Davyhulme Nursery Limited - Accounts to registrar (filleted) - small 18.1
Davyhulme Nursery Limited - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| Davyhulme Nursery Limited |
| Unaudited Financial Statements for the Year Ended 31 August 2017 |
| Davyhulme Nursery Limited (Registered number: 09243296) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Davyhulme Nursery Limited |
| Company Information |
| for the Year Ended 31 August 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Davyhulme Nursery Limited (Registered number: 09243296) |
| Balance Sheet |
| 31 August 2017 |
| 31.8.17 | 31.8.16 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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. |
| 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 |
| Davyhulme Nursery Limited (Registered number: 09243296) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2017 |
| 1. | STATUTORY INFORMATION |
| Davyhulme Nursery Limited is a private company, limited by shares and 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 |
| The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies |
| and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and |
| Republic of Ireland ("FRS 102") and the Companies Act 2006. The presentational and functional currency of these financial statements is |
| sterling. All amounts in the financial statements have been rounded to the nearest £1. |
| These financial statements for the year ended 31 August 2017 are the first financial statements of Davyhulme Nursery Limited prepared in |
| accordance with FRS 102. The date of transition to FRS 102 was 1 September 2015. In the transition to FRS 102 from the Financial |
| Reporting Standard for Smaller Entities (effective January 2015) the company has made no measurement and recognition adjustments. |
| Going concern |
| The company's financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or |
| support will be more than adequate for the company's needs. In assessing going concern, the director has a reasonable expectation that the |
| company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the |
| date of approval of these financial statements. |
| Related party exemption |
| The company has taken advantage of the exemption available under FRS 102 not to disclose related party transactions with wholly owned |
| companies within the group. |
| Significant judgements |
| The preparation of financial statements in compliance with FRS 102 requires management to exercise judgement in applying the company's |
| accounting policies. The director is of the opinion that due to the nature of the business, there are no critical accounting estimates or |
| judgements used in the preparation of these financial statements. |
| Turnover |
| Revenue is recognised to the extent that it is probable economic benefits will flow to the company and the revenue can be reliably measured. |
| Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other |
| sales taxes. |
| Revenue from a contract to provide services is recognised in the period in which the services are provided. |
| Intangible assets |
| Goodwill |
| Goodwill represents the difference between the cost of a business combination and the acquirer's interest in the fair value of the identifiable |
| assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less |
| accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to profit or loss over its useful |
| economic life. |
| All intangible assets are considered to have a finite useful life. The estimated useful lives are as follows: |
| Goodwill is 5 years. This was the estimated useful economic life for the goodwill at the time of acquisition. |
| At each reporting date the company assesses whether there is any indication of impairment. If such indications exists, the recoverable |
| amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is |
| recognised immediately as an expense within profit or loss. |
| Davyhulme Nursery Limited (Registered number: 09243296) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Tangible fixed assets are stated at historical cost less accumulated depreciation and any impairment losses. Historical cost includes |
| expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the |
| manner intended by management. |
| Depreciation is charged to profit or loss over the estimated useful economic lives, as follows - |
| - Leasehold improvements - Over 4 years on a straight line basis. |
| - Computer equipment - Over 5 years on a straight line basis. |
| - Plant and machinery - Over 4 years on a straight line basis. |
| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an |
| indication of a significant change since the last reporting date. |
| Repairs and maintenance costs are charged to profit or loss during the period in which they are incurred. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. |
| At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount |
| of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised |
| immediately as an expense within the profit or loss. |
| Basic financial instruments |
| Trade and other debtors / creditors |
| Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are |
| recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised |
| cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing |
| transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments |
| discounted at a market rate of instrument for a similar debt instrument. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of |
| impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss. |
| For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying |
| amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. |
| Impairment of financial assets |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of |
| impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss. |
| For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying |
| amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. |
| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount |
| and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date. |
| Current and deferred taxation |
| Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in profit or loss except to the extent that it relates |
| to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other |
| comprehensive income. |
| Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively |
| enacted at the balance sheet date. |
| Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different |
| from those in which they are recognised in the financial statements. Deferred tax is not recognised on permanent differences arising because |
| certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or |
| smaller than the corresponding income or expense. |
| Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or |
| substantively enacted at the balance sheet date. |
| 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. |
| Davyhulme Nursery Limited (Registered number: 09243296) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Dividends |
| Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity |
| dividends are recognised when approved by the shareholders. |
| 3. | STAFF NUMBERS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 September 2016 |
| and 31 August 2017 |
| AMORTISATION |
| At 1 September 2016 |
| Amortisation for year |
| At 31 August 2017 |
| NET BOOK VALUE |
| At 31 August 2017 |
| At 31 August 2016 |
| 5. | TANGIBLE FIXED ASSETS |
| Leasehold | Plant and | Computer |
| improvements | machinery | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 September 2016 |
| Additions |
| At 31 August 2017 |
| DEPRECIATION |
| At 1 September 2016 |
| Charge for year |
| At 31 August 2017 |
| NET BOOK VALUE |
| At 31 August 2017 |
| At 31 August 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.17 | 31.8.16 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| Davyhulme Nursery Limited (Registered number: 09243296) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.17 | 31.8.16 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Accruals and deferred income |
| 8. | SECURED DEBTS |
| Bank loans and overdrafts are secured by a debenture between Barclays Bank Plc and the company and by a legal charge over the freehold |
| property. |
| 9. | PROVISIONS FOR LIABILITIES |
| 31.8.17 | 31.8.16 |
| £ | £ |
| Deferred tax | 5,057 | 5,472 |
| Deferred tax |
| £ |
| Balance at 1 September 2016 |
| Credit to Statement of Comprehensive Income during year | ( |
) |
| Balance at 31 August 2017 |
| 10. | RELATED PARTY DISCLOSURES |
| During the year the company made loans totalling £100,000 (2016: £0) to First For Childcare 3 Limited in which S Denton is a director. |
| As at 31 August 2017 Davyhulme Nursery Limited was owed £100,000 (2016: £0) from the said company. All balances attract a nil rate of |
| interest and are repayable on demand. |
| During the year the company received loans totalling £80,079 (2016: £0) from Small Wonders Day Nursery Limited in which S Denton is a |
| director. As at 31 August 2017 Davyhulme Nursery Limited owed £80,079 (2016: £0) to the said company. All balances attract a nil rate of |
| interest and are repayable on demand. |
| During the year the company received loans totalling £15,849 (2016: £4,408) from First For Childcare Limited in which S Denton is a |
| director. During the year the company made repayments totalling £3,000 (2016: £0) to First For Childcare Limited. As at 31 August 2017 |
| Davyhulme Nursery Limited owed £17,257 (2016: £4,408) to the said company. All balances attract a nil rate of interest and are repayable |
| on demand |
| The company is a wholly owned subsidiary of First For Childcare 2 Limited whose registered office is Artisan's House, 7 Queensbridge, |
| Northampton, Northamptonshire, NN4 7BF. |