CLK Childcare Ltd Small abridged accounts

C L K CHILDCARE LTD - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2016-04-01 Sage Accounts Production Advanced 2017 Update 2 - FRS xbrli:pure xbrli:shares iso4217:GBP 04322936 2016-04-01 2017-03-31 04322936 2017-03-31 04322936 2016-03-31 04322936 2015-04-01 2016-03-31 04322936 2016-03-31 04322936 core:NetGoodwill 2016-04-01 2017-03-31 04322936 core:LandBuildings 2016-04-01 2017-03-31 04322936 core:PlantMachinery 2016-04-01 2017-03-31 04322936 core:FurnitureFittings 2016-04-01 2017-03-31 04322936 bus:Director1 2016-04-01 2017-03-31 04322936 core:WithinOneYear 2017-03-31 04322936 core:WithinOneYear 2016-03-31 04322936 core:AfterOneYear 2017-03-31 04322936 core:AfterOneYear 2016-03-31 04322936 core:ShareCapital 2017-03-31 04322936 core:ShareCapital 2016-03-31 04322936 core:RetainedEarningsAccumulatedLosses 2017-03-31 04322936 core:RetainedEarningsAccumulatedLosses 2016-03-31 04322936 bus:FRS102 2016-04-01 2017-03-31 04322936 bus:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 04322936 bus:AbridgedAccounts 2016-04-01 2017-03-31 04322936 bus:SmallCompaniesRegimeForAccounts 2016-04-01 2017-03-31 04322936 bus:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31

Statement of Consent to Prepare Abridged Financial Statements

All of the members of CLK Childcare Ltd have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 04322936

CLK Childcare Ltd

Filleted Unaudited Abridged Financial Statements

31 March 2017

CLK Childcare Ltd

Abridged Financial Statements

Year ended 31 March 2017

Contents	Page

Abridged statement of financial position	1

Notes to the abridged financial statements	3

CLK Childcare Ltd

Abridged Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£

Fixed assets

Intangible assets	5	49,998	59,998
Tangible assets	6	472,614	487,582
		---------	---------
		522,612	547,580

Current assets

Debtors	84,489	410,271
Cash at bank and in hand	616	22,128
	--------	---------
	85,105	432,399

Creditors: amounts falling due within one year	393,075		714,593
	---------		---------
Net current liabilities		307,970	282,194
		---------	---------
Total assets less current liabilities		214,642	265,386

Creditors: amounts falling due after more than one year	7	84,234	100,000
		---------	---------
Net assets		130,408	165,386
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	130,308	165,286
	---------	---------
Members funds	130,408	165,386
	---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

CLK Childcare Ltd

Abridged Statement of Financial Position (continued)

31 March 2017

These abridged financial statements were approved by the board of directors and authorised for issue on 24 October 2017 , and are signed on behalf of the board by:

Mrs C L Koskie

Director

Company registration number: 04322936

CLK Childcare Ltd

Notes to the Abridged Financial Statements

Year ended 31 March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Prince of Wales House, 18/19 Salmon Fields Business Village, Salmon Fields, Royton, Oldham, OL2 6HT.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Tennants Additions	-	4% straight line
Plant & Machinery	-	25% reducing balance
Fixtures & Fittings	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 40 (2016: 34 ).

5. Intangible assets

	£
Cost
At 1 April 2016 and 31 March 2017	200,000
	---------
Amortisation
At 1 April 2016	140,002
Charge for the year	10,000
	---------
At 31 March 2017	150,002
	---------
Carrying amount
At 31 March 2017	49,998
	---------
At 31 March 2016	59,998
	---------

6. Tangible assets

	£
Cost
At 1 April 2016	620,051
Additions	11,392
Disposals	( 2,070)
	---------
At 31 March 2017	629,373
	---------
Depreciation
At 1 April 2016	132,469
Charge for the year	25,660
Disposals	( 1,370)
	---------
At 31 March 2017	156,759
	---------
Carrying amount
At 31 March 2017	472,614
	---------
At 31 March 2016	487,582
	---------

7. Creditors: amounts falling due after more than one year

The bank loan is secured by a fixed and floating charge over all of the property or undertaking of the company, the charge also contains a negative pledge.

8. Directors' advances, credits and guarantees

Included within debtors due within one year are loans to the directors totalling £14,673 (2016: £85'607) on which interest is being charged at 4%. The loans are repayable in full or in part on demand. Dividend totalling £45,000 (2016: £45,000) were paid in the year in respect of shares held by the Company's directors.

9. Related party transactions

The company was under the control of Mrs C L Koskie throughout the current and previous year. Mrs C L Koskie is the managing director and majority shareholder.

10. Transition to FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.

No transitional adjustments were required in equity or profit or loss for the year.