Brittons Daycare Limited Company Accounts

Brittons Daycare Limited Company Accounts

BRITTONS DAYCARE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08640035
Brittons Daycare Limited
Filleted Unaudited Financial Statements
31 March 2017
Brittons Daycare Limited
Financial Statements
Period from 1 September 2016 to 31 March 2017
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Brittons Daycare Limited
Statement of Financial Position
31 March 2017
31 Mar 17
31 Aug 16
Note
£
£
£
£
Fixed assets
Intangible assets
5
3,260
4,600
Tangible assets
6
1,711
1,686
-------
-------
4,971
6,286
Current assets
Debtors
7
355
501
Cash at bank and in hand
27,213
14,085
--------
--------
27,568
14,586
Creditors: amounts falling due within one year
8
13,649
5,371
--------
--------
Net current assets
13,919
9,215
--------
--------
Total assets less current liabilities
18,890
15,501
--------
--------
Net assets
18,890
15,501
--------
--------
Capital and reserves
Called up share capital
9
1
1
Profit and loss account
18,889
15,500
--------
--------
Shareholders funds
18,890
15,501
--------
--------
These 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 statement of comprehensive income has not been delivered.
For the period ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Brittons Daycare Limited
Statement of Financial Position (continued)
31 March 2017
These financial statements were approved by the board of directors and authorised for issue on 18 December 2017 , and are signed on behalf of the board by:
Mr S Sergeant
Director
Company registration number: 08640035
Brittons Daycare Limited
Notes to the Financial Statements
Period from 1 September 2016 to 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 87 Burnham Green Road, Welwyn, Hertfordshire, AL6 0NH, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The 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 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 September 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 12.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
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
-
20% 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.
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:
Equipment
-
20 % straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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 period amounted to 9 (2016: 9 ).
5. Intangible assets
Goodwill
£
Cost
At 1 September 2016 and 31 March 2017
11,500
--------
Amortisation
At 1 September 2016
6,900
Charge for the period
1,340
--------
At 31 March 2017
8,240
--------
Carrying amount
At 31 March 2017
3,260
--------
At 31 August 2016
4,600
--------
6. Tangible assets
Equipment
Total
£
£
Cost
At 1 September 2016
2,473
2,473
Additions
355
355
-------
-------
At 31 March 2017
2,828
2,828
-------
-------
Depreciation
At 1 September 2016
787
787
Charge for the period
330
330
-------
-------
At 31 March 2017
1,117
1,117
-------
-------
Carrying amount
At 31 March 2017
1,711
1,711
-------
-------
At 31 August 2016
1,686
1,686
-------
-------
7. Debtors
31 Mar 17
31 Aug 16
£
£
Other debtors
355
501
----
----
8. Creditors: amounts falling due within one year
31 Mar 17
31 Aug 16
£
£
Accruals and deferred income
6,872
1,375
Corporation tax
6,005
3,580
Social security and other taxes
235
–
Director loan accounts
537
416
--------
-------
13,649
5,371
--------
-------
9. Called up share capital
Issued, called up and fully paid
31 Mar 17
31 Aug 16
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
10. Other financial commitments
Total financial commitments, guarantees and contingencies which are not in the balance sheet amount to £1,170 (2016 - £1,170).
11. Related party transactions
During the period the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
31 Mar 17
31 Aug 16
31 Mar 17
31 Aug 16
£
£
£
£
Other related parties
–
–
( 537)
( 416)
----
----
----
----
12. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 September 2015.
No transitional adjustments were required in equity or profit or loss for the year.