Kids Zone (Notts) Ltd - Period Ending 2018-03-31
Kids Zone (Notts) Ltd - Period Ending 2018-03-31
Registration number:
Kids Zone (Notts) Ltd
for the Year Ended 31 March 2018
Chartered Accountants
17 Brunts St
Mansfield
Nottinghamshire
NG18 1AX
Kids Zone (Notts) Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Kids Zone (Notts) Ltd
Company Information
Director |
Mr G Murray |
Registered office |
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Accountants |
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Page 1 |
Kids Zone (Notts) Ltd
(Registration number: 4710497)
Balance Sheet as at 31 March 2018
Note |
2018 |
2017 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Mr G Murray
Director
Page 2 |
Kids Zone (Notts) Ltd
Notes to the Financial Statements for the Year Ended 31 March 2018
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
United Kingdom
The principal place of business is:
3 Albion Close
Worksop
Nottinghamshire
S80 1RA
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 3 |
Kids Zone (Notts) Ltd
Notes to the Financial Statements for the Year Ended 31 March 2018
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
6.67% straight line basis |
Furniture and fittings |
50% straight line basis |
Motor vehicles |
50% straight line basis |
Office equipment |
100% straight line basis |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
Trade creditors
Trade creditors are not interest bearing and are stated at their nominal value.
Borrowings
Loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Page 4 |
Kids Zone (Notts) Ltd
Notes to the Financial Statements for the Year Ended 31 March 2018
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 April 2017 |
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At 31 March 2018 |
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Amortisation |
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At 1 April 2017 |
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Amortisation charge |
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At 31 March 2018 |
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Carrying amount |
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At 31 March 2018 |
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At 31 March 2017 |
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The aggregate amount of research and development expenditure recognised as an expense during the period is £Nil (2017 - £Nil).
Page 5 |
Kids Zone (Notts) Ltd
Notes to the Financial Statements for the Year Ended 31 March 2018
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 April 2017 |
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Additions |
- |
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- |
- |
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Disposals |
- |
( |
- |
- |
( |
At 31 March 2018 |
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Depreciation |
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At 1 April 2017 |
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Charge for the year |
- |
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Eliminated on disposal |
- |
( |
- |
- |
( |
At 31 March 2018 |
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Carrying amount |
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At 31 March 2018 |
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- |
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At 31 March 2017 |
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Included within the net book value of land and buildings above is £227,159 (2017 - £227,159) in respect of freehold land and buildings.
Page 6 |
Kids Zone (Notts) Ltd
Notes to the Financial Statements for the Year Ended 31 March 2018
Debtors |
2018 |
2017 |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £12,916 (2017 - £12,916).
Creditors include other secured loans of £5,297 (2017 - £14,796).
Creditors: amounts falling due after more than one year
Note |
2018 |
2017 |
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Due after one year |
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Loans and borrowings |
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Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £118,908 (2017 - £128,990).
Creditors include other secured loans of £11,498 (2017 - £16,501).
Page 7 |
Kids Zone (Notts) Ltd
Notes to the Financial Statements for the Year Ended 31 March 2018
Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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6,000 |
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6,000 |
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5,000 |
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5,000 |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Page 8 |