Culcheth Day Nursery Limited
Culcheth Day Nursery Limited
Registered number: 7079685
Unaudited Financial Statements
For The Year Ended 31 March 2018
Culcheth Day Nursery Limited
Unaudited Financial Statements
For The Year Ended 31 March 2018
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Culcheth Day Nursery Limited
Balance Sheet
As at
31 March 2018
Balance Sheet
Registered number:
7079685
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2018 | 2017 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 4 |
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| Tangible Assets | 5 |
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| CURRENT ASSETS | |||||
| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 8 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 10 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 11 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 147,022 | 126,599 | |||
Page 1
Culcheth Day Nursery Limited
Balance Sheet (continued)
As at
31 March 2018
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 6 form part of these financial statements.
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Culcheth Day Nursery Limited
Notes to the Financial Statements
For The Year Ended 31 March 2018
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Going Concern Disclosure
Having considered the future trading prospects of the company, and the cash resources available, the director is of the opinion that the financial statements should be prepared on a going concern basis.
1.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer rebates and other similar allowances.
1.4.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
1.5.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold |
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| Plant & Machinery |
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1.6.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
1.7.
Pensions
The company operates defined pension contribution schemes. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the schemes.
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Culcheth Day Nursery Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2018
4.
Intangible Assets
| Goodwill | |||
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| Amortisation | |||
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| Provided during the period |
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| Net Book Value | |||
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5.
Tangible Assets
| Land & Property | |||
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| Leasehold | Plant & Machinery | Total | |
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| Additions |
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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6.
Debtors
| 2018 | 2017 | ||
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| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
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Page 4
Culcheth Day Nursery Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2018
7.
Creditors: Amounts Falling Due Within One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Bank loans and overdrafts |
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| Corporation tax |
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| Other taxes and social security |
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| Accruals and deferred income |
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| Director's loan account |
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8.
Creditors: Amounts Falling Due After More Than One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Bank loans |
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9.
Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
| 2018 | 2017 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts | 44,870 | 61,185 |
10.
Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
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| £ | £ | ||
| Deferred tax |
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Culcheth Day Nursery Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2018
12.
Other Commitments
At the end of the period the company had minimum lease payments under non-cancellable leases as follows:
| Land and buildings | ||
|---|---|---|
| 2018 | 2017 | |
| £ | £ | |
| Between 1 and 5 years | 31,400 | 49,000 |
| 31,400 | 49,000 | |
13.
Pension Commitments
The company operates defined contribution pension schemes for the director and employees. The assets of the schemes are held separately from those of the company in independently administered funds.
14.
Directors Advances, Credits and Guarantees
Dividends paid to directors
| 2018 | 2017 | |
|---|---|---|
| £ | £ | |
| Mrs Debbie Byrne-Davies | 33,500 | 7,500 |
15.
Dividends
| 2018 | 2017 | ||
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| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
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| 55,833 | 12,500 | ||
16.
General Information
Culcheth Day Nursery Limited is a private company, limited by shares, incorporated in England & Wales, registered number 7079685 . The registered office is Warrington Road, Culcheth, Warrington, Cheshire, WA3 5HH.
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