Norbreck Happy Days Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05772494 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

Norbreck Happy Days Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr T D Hoyle

Mrs J Hoyle

Mrs S Mellor

Miss M Hoyle

Mr J Hoyle

SECRETARY:

Mr T D Hoyle

REGISTERED OFFICE:

295/297 Church Street

Blackpool

Lancashire

FY1 3PJ

REGISTERED NUMBER:

05772494 (England and Wales)

ACCOUNTANTS:

CCW Limited

Chartered Accountants

295/297 Church Street

Blackpool

Lancashire

FY1 3PJ

FIXED ASSETS

Intangible assets

4

-

2,083

Tangible assets

5

374,964

413,926

374,964

416,009

CURRENT ASSETS

Stocks

250

250

Debtors

6

675,705

208,252

Cash at bank

191,641

10,754

867,596

219,256

CREDITORS

Amounts falling due within one year

7

1,058,880

601,973

NET CURRENT LIABILITIES

(191,284

)

(382,717

)

TOTAL ASSETS LESS CURRENT LIABILITIES

183,680

33,292

CREDITORS

Amounts falling due after more than one year

8

(94,945

)

-

PROVISIONS FOR LIABILITIES

(12,381

)

(17,135

)

NET ASSETS

76,354

16,157

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

76,254

16,057

SHAREHOLDERS' FUNDS

76,354

16,157

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 19 December 2018 and were signed on its behalf by:

Mr T D Hoyle - Director

Mrs J Hoyle - Director

1.	STATUTORY INFORMATION

Norbreck Happy Days 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 nursery and childcare fees receivable in the year, excluding value added tax.

Goodwill

Goodwill, being amounts paid in connection with the acquisition of three separate businesses in 2006, 2009 and

2012, was amortised evenly over its estimated useful life of five 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.

Freehold property

-

10% on cost

Short leasehold

-

25% on reducing balance

Long leasehold

-

2% on cost

Plant and machinery

-

25% on reducing balance

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 operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 71 (2017 - 62 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

56,308

AMORTISATION

At 1 April 2017

54,225

Amortisation for year

2,083

At 31 March 2018

56,308

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

2,083

5.	TANGIBLE FIXED ASSETS

Freehold

Short

Long

Plant and

property

leasehold

leasehold

machinery

Totals

£

£

£

£

£

COST

At 1 April 2017

131,789

9,120

265,389

198,673

604,971

Additions

-

-

-

1,471

1,471

At 31 March 2018

131,789

9,120

265,389

200,144

606,442

DEPRECIATION

At 1 April 2017

68,195

5,273

7,344

110,233

191,045

Charge for year

11,686

962

5,307

22,478

40,433

At 31 March 2018

79,881

6,235

12,651

132,711

231,478

NET BOOK VALUE

At 31 March 2018

51,908

2,885

252,738

67,433

374,964

At 31 March 2017

63,594

3,847

258,045

88,440

413,926

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

5,400

5,400

Amounts owed by group undertakings

274,743

-

Amounts owed by associates

393,243

200,000

Prepayments

2,319

2,852

675,705

208,252

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans and overdrafts

47,621

478,042

Amounts owed to group undertakings

427,440

-

Amounts owed to associates

75,000

-

Tax

62,482

101,509

Social security and other taxes

3,216

7,255

Directors' loan accounts

429,881

112

Accrued expenses

13,240

15,055

1,058,880

601,973

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans - 1-2 years

52,352

-

Bank loans - 2-5 years

42,593

-

94,945

-

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £100,000 were paid to the directors .

Mr & Mrs T D Hoyle (directors and shareholders) own the freehold premises from which the Company operates.

No rent has been charged in the year ended 31st March 2018 (also none in the year to 31st March 2017).

Norbreck Happy Days Limited has been charged by Happy Days Lancashire Limited for management charges

for the year amounting to £28,000 (2017: £28,478).

Norbreck Happy Days Limited has been charged by HDC Group Limited for management charges for the year

amounting to £5,000. (2017: £Nil)

Dividends paid to Directors during the year were as follows: Mr T D Hoyle £26,000, Mrs J Hoyle £26,000 Mrs S

Mellor £16,000, Miss M Hoyle £16,000, Mr J Hoyle £16,000.