Rainbow Day Nursery (Newcastle) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04990928 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2018

FOR

RAINBOW DAY NURSERY (NEWCASTLE) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S E Massey

A Massey

SECRETARY:

Mrs S E Massey

REGISTERED OFFICE:

21 Castle Hill Road

Newcastle

Staffordshire

ST5 2SX

REGISTERED NUMBER:

04990928 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,474

1,454

2,474

1,454

CURRENT ASSETS

Stocks

1,450

1,400

Debtors

6

9,139

6,756

Cash at bank and in hand

70,742

128,419

81,331

136,575

CREDITORS

Amounts falling due within one year

7

42,720

24,938

NET CURRENT ASSETS

38,611

111,637

TOTAL ASSETS LESS CURRENT LIABILITIES

41,085

113,091

PROVISIONS FOR LIABILITIES

470

185

NET ASSETS

40,615

112,906

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

40,515

112,806

SHAREHOLDERS' FUNDS

40,615

112,906

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 17 July 2018 and were signed on its behalf by:

Mrs S E Massey - Director

A Massey - Director

1.	STATUTORY INFORMATION

Rainbow Day Nursery (Newcastle) 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 the aggregate of childcare nursery fees charged for the year.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten 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.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

Straight line over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

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.

Pension costs and other post-retirement benefits

The company does not operate its own pension scheme but contributes towards the personal pension schemes of its

directors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2017 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2017

and 31 May 2018

150,000

AMORTISATION

At 1 June 2017

and 31 May 2018

150,000

NET BOOK VALUE

At 31 May 2018

-

At 31 May 2017

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 June 2017

2,300

8,218

4,672

15,190

Additions

-

-

2,322

2,322

At 31 May 2018

2,300

8,218

6,994

17,512

DEPRECIATION

At 1 June 2017

2,173

7,191

4,372

13,736

Charge for year

25

204

1,073

1,302

At 31 May 2018

2,198

7,395

5,445

15,038

NET BOOK VALUE

At 31 May 2018

102

823

1,549

2,474

At 31 May 2017

127

1,027

300

1,454

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

9,139

2,953

Other debtors

-

3,803

9,139

6,756

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Tax

5,887

3,289

Other creditors

28,922

18,212

Directors' loan accounts

4,574

1,943

Accrued expenses

3,337

1,494

42,720

24,938

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES