Tree Tops Montessori Nursery Limited 31/05/2018 iXBRL

Tree Tops Montessori Nursery Limited 31/05/2018 iXBRL

TREE TOPS MONTESSORI NURSERY LTD - Company Information

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31/05/2018 2018-05-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2017-06-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 05240535 2017-06-01 2018-05-31 05240535 2018-05-31 05240535 2017-05-31 05240535 2016-06-01 2017-05-31 05240535 2017-05-31 05240535 bus:Director1 2017-06-01 2018-05-31 05240535 core:LandBuildings core:OwnedOrFreeholdAssets 2017-05-31 05240535 core:PlantMachinery 2017-05-31 05240535 core:FurnitureFittingsToolsEquipment 2017-05-31 05240535 core:LandBuildings core:OwnedOrFreeholdAssets 2018-05-31 05240535 core:PlantMachinery 2018-05-31 05240535 core:FurnitureFittingsToolsEquipment 2018-05-31 05240535 core:WithinOneYear 2018-05-31 05240535 core:WithinOneYear 2017-05-31 05240535 core:ShareCapital 2018-05-31 05240535 core:ShareCapital 2017-05-31 05240535 core:RetainedEarningsAccumulatedLosses 2018-05-31 05240535 core:RetainedEarningsAccumulatedLosses 2017-05-31 05240535 core:LandBuildings core:OwnedOrFreeholdAssets 2017-06-01 2018-05-31 05240535 core:FurnitureFittingsToolsEquipment 2017-06-01 2018-05-31 05240535 core:LandBuildings core:OwnedOrFreeholdAssets 2017-05-31 05240535 core:FurnitureFittingsToolsEquipment 2017-05-31 05240535 bus:SmallEntities 2017-06-01 2018-05-31 05240535 bus:AuditExempt-NoAccountantsReport 2017-06-01 2018-05-31 05240535 bus:FullAccounts 2017-06-01 2018-05-31 05240535 bus:SmallCompaniesRegimeForAccounts 2017-06-01 2018-05-31 05240535 bus:PrivateLimitedCompanyLtd 2017-06-01 2018-05-31
Company registration number: 05240535
Tree Tops Montessori Nursery Limited
Financial statements
31 May 2018
Tree Tops Montessori Nursery Limited
Contents
Statement of financial position
Notes to the financial statements
Tree Tops Montessori Nursery Limited
Statement of financial position
31st May 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 5 258,990 268,094
_______ _______
258,990 268,094
Current assets
Debtors 6 2,910 2,954
Cash at bank and in hand 492,438 485,099
_______ _______
495,348 488,053
Creditors: amounts falling due
within one year 7 ( 58,724) ( 72,497)
_______ _______
Net current assets 436,624 415,556
_______ _______
Total assets less current liabilities 695,614 683,650
_______ _______
Net assets 695,614 683,650
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 695,514 683,550
_______ _______
Shareholders funds 695,614 683,650
_______ _______
For the year ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 10 October 2018 , and are signed on behalf of the board by:
Mrs S.J. Butler
Director
Company registration number: 05240535
Tree Tops Montessori Nursery Limited
Notes to the financial statements
Year ended 31st May 2018
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 6 The Terrace, Rugby Road, Lutterworth, Leicestershire, LE17 4BW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 22 (2017: 24 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1st June 2017 and 31st May 2018 320,413 23,193 12,197 355,803
_______ _______ _______ _______
Depreciation
At 1st June 2017 52,606 23,193 11,910 87,709
Charge for the year 8,817 - 287 9,104
_______ _______ _______ _______
At 31st May 2018 61,423 23,193 12,197 96,813
_______ _______ _______ _______
Carrying amount
At 31st May 2018 258,990 - - 258,990
_______ _______ _______ _______
At 31st May 2017 267,807 - 287 268,094
_______ _______ _______ _______
6. Debtors
2018 2017
£ £
Other debtors 2,910 2,954
_______ _______
7. Creditors: amounts falling due within one year
2018 2017
£ £
Corporation tax 51,776 69,458
Social security and other taxes 4,044 16
Other creditors 2,904 3,023
_______ _______
58,724 72,497
_______ _______