Sparklers Private Nursery Ltd. - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC280045 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2017

FOR

SPARKLERS PRIVATE NURSERY LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs R White

D White

REGISTERED OFFICE:

6th Floor, Gordon Chambers

90 Mitchell Street

Glasgow

G1 3NQ

REGISTERED NUMBER:

SC280045 (Scotland)

ACCOUNTANTS:

Henderson Loggie

Gordon Chambers

90 Mitchell Street

Glasgow

Lanarkshire

G1 3NQ

FIXED ASSETS

Intangible assets

4

19,000

52,500

Tangible assets

5

44,448

47,846

63,448

100,346

CURRENT ASSETS

Debtors

6

162,026

134,261

Cash at bank and in hand

7,553

21,324

169,579

155,585

CREDITORS

Amounts falling due within one year

7

43,657

44,452

NET CURRENT ASSETS

125,922

111,133

TOTAL ASSETS LESS CURRENT LIABILITIES

189,370

211,479

CREDITORS

Amounts falling due after more than one year

8

184,047

196,398

NET ASSETS

5,323

15,081

CAPITAL AND RESERVES

Called up share capital

10

103

103

Retained earnings

11

5,220

14,978

SHAREHOLDERS' FUNDS

5,323

15,081

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 September 2017 and were signed on its behalf by:

Mrs R White - Director

1.	STATUTORY INFORMATION

Sparklers Private Nursery Ltd. is a private company, limited by shares , registered in Scotland. The company's registered

number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on a straight line basis

Fixtures and fittings

-

15% on a straight line basis

Computer equipment

-

33% on a straight line basis

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 29 February 2016

and 28 February 2017

335,000

AMORTISATION

At 29 February 2016

282,500

Charge for year

33,500

At 28 February 2017

316,000

NET BOOK VALUE

At 28 February 2017

19,000

At 28 February 2016

52,500

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 29 February 2016

and 28 February 2017

38,222

60,255

9,471

107,948

DEPRECIATION

At 29 February 2016

6,656

45,764

7,682

60,102

Charge for year

514

2,173

711

3,398

At 28 February 2017

7,170

47,937

8,393

63,500

NET BOOK VALUE

At 28 February 2017

31,052

12,318

1,078

44,448

At 28 February 2016

31,566

14,491

1,789

47,846

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

23,491

19,263

Associated company loan

118,540

95,000

Directors' current accounts

19,995

19,998

162,026

134,261

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

11,562

12,204

Trade creditors

17,719

10,893

Taxation and social security

3,876

5,685

Other creditors

10,500

15,670

43,657

44,452

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

184,047

196,398

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

145,177

157,566

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

1,816

2,458

Bank loans

193,793

206,144

195,609

208,602

The bank loan and overdraft facility is secured by a bond and floating charge over the assets of the company together with a

personal guarantee of the directors for £100,000.

A second security over the assets of the company is held by other creditors.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

2

Ordinary A- J

£1

3

3

103

103

11.

RESERVES

Retained

earnings

£

At 29 February 2016

14,978

Deficit for the year

(9,758

)

At 28 February 2017

5,220

12.	FIRST YEAR ADOPTION

The financial statements of Sparklers Private Nursery Ltd for the year ended 28 February 2017 are the first financial

statements prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of

Ireland. The date of transition to FRS 102 was 1 March 2016. The reported financial position and financial performance for

the previous period have been corrected by the transition to FRS 102.