Accounts filed on 31-10-2017

Accounts filed on 31-10-2017

RAINBOW DAY NURSERY (EARLY YEARS CENTRE) LIMITED - Company Information

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Registered number: 04901419
Rainbow Day Nursery (Early Years Centre) Limited
ACCOUNTS
FOR THE YEAR ENDED 31/10/2017
Prepared By:
Douglas Colmer & Co
Chartered Accountants
Orwell Lodge
13 Lesney Park Road
Erith
Kent
DA8 3DQ
Rainbow Day Nursery (Early Years Centre) Limited
ACCOUNTS
FOR THE YEAR ENDED 31/10/2017
DIRECTORS
S J Fudge
K L Springhall
SECRETARY
K L Springhall
REGISTERED OFFICE
Summerhill Road
Dartford
Kent
DA1 2LP
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 04901419
ACCOUNTANTS
Douglas Colmer & Co
Chartered Accountants
Orwell Lodge
13 Lesney Park Road
Erith
Kent
DA8 3DQ
Rainbow Day Nursery (Early Years Centre) Limited
ACCOUNTS
FOR THEYEARENDED31/10/2017
CONTENTS
Page
Directors' Report-
Strategic Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
Rainbow Day Nursery (Early Years Centre) Limited
BALANCE SHEET AT 31/10/2017
20172016
Notes££
FIXED ASSETS
Tangible assets34,4455,188
CURRENT ASSETS
Debtors47,8708,907
Cash at bank and in hand147,43293,710
155,302102,617
CREDITORS: Amounts falling due within one year553,74831,864
NET CURRENT ASSETS101,55470,753
TOTAL ASSETS LESS CURRENT LIABILITIES105,99975,941
PROVISIONS FOR LIABILITIES AND CHARGES7752863
NET ASSETS105,24775,078
CAPITAL AND RESERVES
Called up share capital81,0001,000
Profit and loss account104,24774,078
SHAREHOLDERS' FUNDS105,24775,078
For the year ending 31/10/2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 16/07/2018 and signed on their behalf by
.............................
S J Fudge
Director
.............................
K L Springhall
Director
Rainbow Day Nursery (Early Years Centre) Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/10/2017
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipmentreducing balance 25%
1c. Pension Costs
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
1d. Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.
1e. Leasing Commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.
Rainbow Day Nursery (Early Years Centre) Limited
1f. Employer Financed Retirement Benefits Scheme
The company operates an employer financed retirement benefits scheme ('the scheme') for the benefit of its officers, employees and their wider families. The scheme consists of two employee benefit trusts called The Rainbow Day Nursery (Early Years Centre) Ltd Employer Financed Retirement Benefits Scheme No. 1 and The Rainbow Day Nursery (Early Years Centre Ltd) Employer Financed Retirement Benefits Scheme No. 2.
In accordance with UITF abstract 32 'Employee Benefit Trusts and other intermediate payment arrangements' the company does not include the assets and liabilities of the scheme on its balance sheet to the extent that it considers that it will not retain any economic benefit from the assets of the scheme and will not have control of the rights or other access to those present economic benefits.
2. INTANGIBLE FIXED ASSETS
Purchased
GoodwillTotal
££
Cost
At 01/11/2016140,000140,000
At 31/10/2017140,000140,000
Depreciation
At 01/11/2016140,000140,000
At 31/10/2017140,000140,000
Net Book Amounts
At 31/10/2017--
3. TANGIBLE FIXED ASSETS
EquipmentTotal
££
Cost
At 01/11/201642,87942,879
Additions740740
At 31/10/201743,61943,619
Depreciation
At 01/11/201637,69137,691
For the year1,4831,483
At 31/10/201739,17439,174
Net Book Amounts
At 31/10/20174,4454,445
At 31/10/20165,1885,188
Rainbow Day Nursery (Early Years Centre) Limited
4. DEBTORS 20172016
££
Amounts falling due within one year
Debtors and prepayments7,8708,907
7,8708,907
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20172016
££
UK corporation tax33,70715,485
PAYE control5,7385,661
Other creditors14,30310,718
53,74831,864
6. EMPLOYEES
20172016
No.No.
Average number of employees3131
7. PROVISIONS FOR LIABILITIES 20172016
££
Deferred taxation752863
752863
8. SHARE CAPITAL 20172016
££
Allotted, issued and fully paid:
1000 Ordinary A shares of £1 each10001000
1,0001,000
Rainbow Day Nursery (Early Years Centre) Limited
9. OTHER FINANCIAL COMMITMENTS
At 31/10/2017 the company was committed to making the following payments under non-cancellable operating leases:
20172016
££
Operating Leases which expire:
Within two to five years720827
After 5 years37,00037,000
10. RELATED PARTY TRANSACTIONS
The company was owned and controlled by S J Fudge and K L Springhall (directors and equal shareholders) throughout the current and previous year.
During the year the company paid dividends of £55,000 each (2016 - £55,000 each) to S J Fudge and K L Springhall.
During the year the company made payments of £1,610 (2016 - £1,053) to I R Springhall for services provided at market rates.