TOWNSEND_MONTESSORI_NURSE - Accounts

TOWNSEND MONTESSORI NURSERIES LTD - Company Information

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Company Registration No. 06525217 (England and Wales)

TOWNSEND MONTESSORI NURSERIES LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

Faulkner House

Victoria Street

Rayner Essex LLP

St Albans

Chartered Accountants

Herts

AL1 3SE

TOWNSEND MONTESSORI NURSERIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

TOWNSEND MONTESSORI NURSERIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

171,000

180,500

Tangible assets

1,164,007

1,203,818

1,335,007

1,384,318

Current assets

Debtors

993,367

186,140

Cash at bank and in hand

76,860

387,112

1,070,227

573,252

Creditors: amounts falling due within one year

(735,518)

(235,312)

Net current assets

334,709

337,940

Total assets less current liabilities

1,669,716

1,722,258

Creditors: amounts falling due after more than one year

(587,392)

(653,132)

1,082,324

1,069,126

Capital and reserves

Called up share capital

Profit and loss account

1,082,322

1,069,124

Shareholders' funds

1,082,324

1,069,126

TOWNSEND MONTESSORI NURSERIES LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2014

- 2 -

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 29 December 2014

Miss P Townsend

Director

Company Registration No. 06525217

TOWNSEND MONTESSORI NURSERIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

Nil

Land and buildings Leasehold

Nil

Fixtures, fittings and equipment

25% straight line

Motor vehicles

25% reducing balance

1.6

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.8

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

TOWNSEND MONTESSORI NURSERIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2013

190,000

1,385,824

1,575,824

Additions

16,469

At 31 March 2014

190,000

1,402,293

1,592,293

Depreciation

At 1 April 2013

9,500

182,006

191,506

Charge for the year

9,500

56,280

65,780

At 31 March 2014

19,000

238,286

257,286

Net book value

At 31 March 2014

171,000

1,164,007

1,335,007

At 31 March 2013

180,500

1,203,818

1,384,318

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £35,000 (2013 - £-).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £587,392 (2013 - £653,132).

Share capital

2014

2013

Allotted, called up and fully paid

2 Ordinary shares of £1 each

TOWNSEND MONTESSORI NURSERIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 5 -

Related party relationships and transactions

Loans to/from the director

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Director's loan account

43,245

(43,887)

(642)

43,245

(43,887)

(642)