Parklands Day Centre Limited Filleted accounts for Companies House (small and micro)

PARKLANDS DAY CENTRE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05281123

Parklands Day Centre Limited

Company Limited by Guarantee

Filleted Unaudited Financial Statements

28 February 2018

Parklands Day Centre Limited

Company Limited by Guarantee

Financial Statements

Year ended 28 February 2018

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Parklands Day Centre Limited

Company Limited by Guarantee

Statement of Financial Position

28 February 2018

	2018		2017
Note	£	£	£

Current assets

Debtors	6	–	71
Cash at bank and in hand		44,358	18,547
		--------	--------
		44,358	18,618

Creditors: amounts falling due within one year	7	183,676		133,847
		---------		---------
Net current liabilities			139,318	115,229
			---------	---------
Total assets less current liabilities			( 139,318)	( 115,229)
			---------	---------
Net liabilities			( 139,318)	( 115,229)
			---------	---------

Capital and reserves

Profit and loss account	( 139,318)	( 115,229)
	---------	---------
Members deficit	( 139,318)	( 115,229)
	---------	---------

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.

For the year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 30 November 2018 , and are signed on behalf of the board by:

Mr B Deakin
Director

Company registration number: 05281123

Parklands Day Centre Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 28 February 2018

1. General information

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Stanhope Street, Long Eaton, Nottingham, NG10 4QE.

2. Statement of compliance

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

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 and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 as a finance cost in profit or loss in the period in which it arises.

4. Company limited by guarantee

The company is limited by guarantee and does not have any share capital.

In the event of the company being wound up the Member of the Council undertakes to contribute a sum not exceeding £1 to its assets for payment of any outstanding debts and liabilities.

5. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2017: Nil).

6. Debtors

	2018	2017
	£	£
Other debtors	–	71
	----	----

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	9,878	–
Social security and other taxes	7,104	–
Intercompany balances	–	132,617
Other creditors	166,694	1,230
	---------	---------
	183,676	133,847
	---------	---------

8. Directors's responsibilities statement

The directors are responsible for preparing the Strategic Report, Directors’ Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period.

In preparing those financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and estimates that are reasonable and prudent; and

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and the company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

9. Director's advances, credits and guarantees

The directors loan account was in credit at the year end so no disclosure is required.

10. Related party transactions

The company was under the control of the Directors throughout the current and previous year. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.