Peek-A-Boo Nursery (Edinburgh) Limited Filleted accounts for Companies House (small and micro)

PEEK-A-BOO NURSERY (EDINBURGH) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: SC455936

Peek-A-Boo Nursery (Edinburgh) Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2019

Peek-A-Boo Nursery (Edinburgh) Limited

Statement of Financial Position

31 December 2019

	2019		2018
Note	£	£	£

Fixed assets

Intangible assets	5	150,000	187,500
Tangible assets	6	14,966	14,842
		---------	---------
		164,966	202,342

Current assets

Debtors	7	2,185	4,343
Cash at bank and in hand		107,399	61,824
		---------	--------
		109,584	66,167

Creditors: amounts falling due within one year	8	48,283		40,833
		---------		--------
Net current assets			61,301	25,334
			---------	---------
Total assets less current liabilities			226,267	227,676

Provisions	1,788	1,710
	---------	---------
Net assets	224,479	225,966
	---------	---------

Capital and reserves

Called up share capital	9	100	100
Profit and loss account		224,379	225,866
		---------	---------
Shareholder funds		224,479	225,966
		---------	---------

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 income and retained earnings has not been delivered.

For the year ending 31 December 2019 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 .

Peek-A-Boo Nursery (Edinburgh) Limited

Statement of Financial Position (continued)

31 December 2019

These financial statements were approved by the board of directors and authorised for issue on 30 January 2020 , and are signed on behalf of the board by:

S Peek
Director

Company registration number: SC455936

Peek-A-Boo Nursery (Edinburgh) Limited

Notes to the Financial Statements

Year ended 31 December 2019

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 61 Dublin Street, Edinburgh, EH3 6NL.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (FRS 102) Section 1A for small entities.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit and loss . The financial statements are prepared in sterling, which is the functional currency of the entity. Going Concern The financial statements have been prepared on a going concern basis. The director has assessed the Company's ability to continue as a going concern and has reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus she continues to adopt the going concern basis of accounting the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

Goodwill is reviewed annually for impairment.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation. Tangible assets are reviewed annually for impairment.

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:

Fixtures and Fittings	-	20% reducing balance
Motor Vehicles	-	25% reducing balance

Impairment of fixed assets

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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets, which include other debtors and cash, 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. Basic financial liabilities, which include other creditors, 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. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.

Defined contribution pensions

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

4. Average number of staff

The average number of persons employed by the company during the year amounted to 21 (2018: 22 ).

5. Intangible assets

	Goodwill
	£

Cost
At 1 January 2019 and 31 December 2019	375,000
	---------
Amortisation
At 1 January 2019	187,500
Charge for the year	37,500
	---------
At 31 December 2019	225,000
	---------
Carrying amount
At 31 December 2019	150,000
	---------
At 31 December 2018	187,500
	---------

6. Tangible assets

Fixtures and fittings	Motor vehicles	Total
£	£	£

Cost
At 1 January 2019	31,078	651	31,729
Additions	3,786	–	3,786
Disposals	( 207)	–	( 207)
	--------	----	--------
At 31 December 2019	34,657	651	35,308
	--------	----	--------
Depreciation
At 1 January 2019	16,391	496	16,887
Charge for the year	3,527	39	3,566
Disposals	( 111)	–	( 111)
	--------	----	--------
At 31 December 2019	19,807	535	20,342
	--------	----	--------
Carrying amount
At 31 December 2019	14,850	116	14,966
	--------	----	--------
At 31 December 2018	14,687	155	14,842
	--------	----	--------

7. Debtors

	2019	2018
	£	£

Trade debtors	1,009	3,209
Other debtors	1,176	1,134
	-------	-------
	2,185	4,343
	-------	-------

8. Creditors: amounts falling due within one year

	2019	2018
	£	£

Trade creditors	3,703	4,167
Corporation tax	22,232	20,365
Social security and other taxes	5,826	6,109
Other creditors	16,522	10,192
	--------	--------
	48,283	40,833
	--------	--------

9. Called up share capital

Issued, called up and fully paid

2019		2018
No.	£	No.	£

Ordinary shares of £ 1 each	100	100.00	100	100.00
	----	--------	----	--------