Abracadabra Preschool Academy Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08032896 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2017

FOR

ABRACADABRA PRESCHOOL ACADEMY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs S Bhatt

REGISTERED OFFICE:

7 Ash Close

Stanmore

Middlesex

HA7 3RH

REGISTERED NUMBER:

08032896 (England and Wales)

ACCOUNTANTS:

ST-Partnership

Chartered Accountants

Enterprise House

3 Tudor Enterprise Park

Tudor Road

Harrow

Middlesex

HA3 5JQ

FIXED ASSETS

Intangible assets

4

105,000

112,000

Tangible assets

5

23,007

28,409

128,007

140,409

CURRENT ASSETS

Debtors

6

1,682

-

Cash at bank and in hand

119,178

104,078

120,860

104,078

CREDITORS

Amounts falling due within one year

7

27,237

19,949

NET CURRENT ASSETS

93,623

84,129

TOTAL ASSETS LESS CURRENT LIABILITIES

221,630

224,538

PROVISIONS FOR LIABILITIES

775

1,425

NET ASSETS

220,855

223,113

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

220,755

223,013

SHAREHOLDERS' FUNDS

220,855

223,113

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 21 November 2017 and were signed by:

Mrs S Bhatt - Director

1.	STATUTORY INFORMATION

Abracadabra Preschool Academy Limited is a private company, limited by shares , registered in England and

Wales. 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 represents amounts received for services rendered.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty 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.

Toys & Other Equipment

-

33% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2016

and 31 August 2017

140,000

AMORTISATION

At 1 September 2016

28,000

Amortisation for year

7,000

At 31 August 2017

35,000

NET BOOK VALUE

At 31 August 2017

105,000

At 31 August 2016

112,000

5.	TANGIBLE FIXED ASSETS

Toys &

Fixtures

Short

Other

and

leasehold

Equipment

fittings

£

£

£

COST

At 1 September 2016

3,243

20,789

9,353

Additions

-

390

-

Disposals

-

(9,500

)

-

At 31 August 2017

3,243

11,679

9,353

DEPRECIATION

At 1 September 2016

2,072

12,475

4,470

Charge for year

540

2,872

733

Eliminated on disposal

-

(9,500

)

-

At 31 August 2017

2,612

5,847

5,203

NET BOOK VALUE

At 31 August 2017

631

5,832

4,150

At 31 August 2016

1,171

8,314

4,883

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 September 2016

23,765

1,653

58,803

Additions

-

2,485

2,875

Disposals

-

-

(9,500

)

At 31 August 2017

23,765

4,138

52,178

DEPRECIATION

At 1 September 2016

10,398

979

30,394

Charge for year

3,342

790

8,277

Eliminated on disposal

-

-

(9,500

)

At 31 August 2017

13,740

1,769

29,171

NET BOOK VALUE

At 31 August 2017

10,025

2,369

23,007

At 31 August 2016

13,367

674

28,409

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

1,682

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Tax

1,920

17,594

Social security and other taxes

-

401

Other creditors

15,660

-

Directors' current accounts

7,857

154

Accrued expenses

1,800

1,800

27,237

19,949

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs S Bhatt.