Accounts filed on 31-10-2016

Accounts filed on 31-10-2016

RAINBOW DAY NURSERY (EARLY YEARS CENTRE) LIMITED - Company Information

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049014192015-11-012016-10-31falsetruehttp://www.companieshouse.gov.uk/2015-10-31http://www.companieshouse.gov.uk/pt:PlantMachinery2015-10-31http://www.companieshouse.gov.uk/cd:Director12015-11-012016-10-31http://www.companieshouse.gov.uk/pt:PlantMachinery2016-10-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12015-11-012016-10-31http://www.companieshouse.gov.uk/pt:PlantMachinery2015-11-012016-10-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12016-10-31http://www.companieshouse.gov.uk/pt:PositiveGoodwill2015-10-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12015-10-31http://www.companieshouse.gov.uk/pt:PositiveGoodwill2016-10-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2015-11-012016-10-31http://www.companieshouse.gov.uk/pt:PositiveGoodwill2015-11-012016-10-31http://www.companieshouse.gov.uk/2014-11-012015-10-31http://www.companieshouse.gov.uk/2015-11-012016-10-31http://www.companieshouse.gov.uk/2015-10-31http://www.companieshouse.gov.uk/2016-10-31http://www.companieshouse.gov.uk/cd:EntityAccountantsOrAuditors2015-11-012016-10-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 04901419
Rainbow Day Nursery (Early Years Centre) Limited
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31/10/2016
Prepared By:
DOUGLAS COLMER & CO
Chartered Accountants
Orwell Lodge
13 Lesney Park Road
Erith
Kent
DA8 3DQ
Rainbow Day Nursery (Early Years Centre) Limited
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31/10/2016
INDEX TO THE ACCOUNTS
Abbreviated Balance Sheet2
Notes to the Abbreviated Accounts3
The company's registered number is 04901419
Rainbow Day Nursery (Early Years Centre) Limited
Registered Number: 04901419
BALANCE SHEET AT 31/10/2016
20162015
Notes££
FIXED ASSETS
Tangible assets35,1886,918
CURRENT ASSETS
Debtors (amounts falling due within one year)48,90773,316
Cash at bank and in hand93,710141,965
102,617215,281
CREDITORS: Amounts falling due within one year31,86496,660
NET CURRENT ASSETS70,753118,621
TOTAL ASSETS LESS CURRENT LIABILITIES75,941125,539
PROVISIONS FOR LIABILITIES8631,170
NET ASSETS75,078124,369
CAPITAL AND RESERVES
Called up share capital51,0001,000
Profit and loss account74,078123,369
SHAREHOLDERS' FUNDS75,078124,369
For the year ending 31/10/2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board on 28/04/2017 and signed on their behalf by
S J Fudge
Director
.............................
K L Springhall
Director
Rainbow Day Nursery (Early Years Centre) Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/10/2016
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipment 25%
1c. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.
1d. Pension Costs
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
1e. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
1f. Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.
Rainbow Day Nursery (Early Years Centre) Limited
1g. Leasing Commitments
Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the term of the lease.
Assets held under finance leases, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and are depreciated over their useful lives The capital element of future obligations under the lease is included as a liability in the balance sheet The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
For sale and leaseback agreements the commercial substance of the leaseback is taken into account when deciding on the correct accounting treatment For sale and leaseback agreements which are of a rental nature ("operating leases") any profit or loss on disposal is recognised immediately in the profit and loss account.
Incentives received to enter into a lease agreement are recognised in the profit and loss account over the shorter of the lease term and the period to the next lease review.
1h. Employer Financed Retirement Benefits Scheme
The company operates an employer financed retirement benefits scheme ('the scheme') for the benefit of its officers, employees and their wider families. The scheme consists of two employee benefit trusts called The Rainbow Day Nursery (Early Years Centre) Ltd Employer Financed Retirement Benefits Scheme No.1 and The Rainbow Day Nursery (Early Years Centre) Ltd Employer Financed Retirement Benefits Scheme No. 2.
In accordance with UITF abstract 32 'Employee Benefit Trusts and other intermediate payment arrangements' the company does not include the assets and liabilities of the scheme on its balance sheet to the extent that it considers that it will not retain any economic benefit from the assets of the scheme and will not have control of the rights or other access to those present economic benefits.
2. INTANGIBLE FIXED ASSETS
Purchased
GoodwillTotal
££
Cost
At 01/11/2015140,000140,000
At 31/10/2016140,000140,000
Depreciation
At 01/11/2015140,000140,000
At 31/10/2016140,000140,000
Net Book Amounts
At 31/10/2016--
Rainbow Day Nursery (Early Years Centre) Limited
3. TANGIBLE FIXED ASSETS
Plant and
Machinery Etc.Total
££
Cost
At 01/11/201542,87942,879
At 31/10/201642,87942,879
Depreciation
At 01/11/201535,96135,961
For the year1,7301,730
At 31/10/201637,69137,691
Net Book Amounts
At 31/10/20165,1885,188
At 31/10/20156,9186,918
4. DEBTORS 20162015
££
Amounts falling due within one year:
Other debtors8,90773,316
8,90773,316
5. SHARE CAPITAL 20162015
££
Allotted, issued and fully paid:
1000 Ordinary - A shares of £1 each10001000
1,0001,000
6. RELATED PARTY TRANSACTIONS
The company was owned and controlled by S J Fudge and K L Springhall (directors and equal shareholders) throughout the current and previous year.
During the year the company paid dividends of £55,000 each (2015 - £55,000 each) to S J Fudge and K L Springhall.
During the year the company made payments of £1,053 (2015 - £3,696) to All Seasons Projects Limited, a company owned and controlled by I R Springhall (husband of K L Springhall) for services provided at market rates.