The Gooseberry Bush Day Nursery Ltd - Period Ending 2018-08-31

The Gooseberry Bush Day Nursery Ltd - Period Ending 2018-08-31


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Registration number: 4786060

The Gooseberry Bush Day Nursery Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 July 2017 to 31 August 2018

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Pillow May Ltd
The Coach House
Bremhill Grove Farm
East Tytherton
Chippenham
Wiltshire
SN15 4LX

 

The Gooseberry Bush Day Nursery Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

The Gooseberry Bush Day Nursery Ltd

Company Information

Directors

Ms C Stringer

Mr A Owen

Registered office

Kemble Airfield Enterprise Park
Kemble
Cirencester
GL7 6BQ

Accountants

Pillow May Ltd
The Coach House
Bremhill Grove Farm
East Tytherton
Chippenham
Wiltshire
SN15 4LX

 

The Gooseberry Bush Day Nursery Ltd

(Registration number: 4786060)
Balance Sheet as at 31 August 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

36,989

19,338

Current assets

 

Debtors

5

17,270

6,688

Cash at bank and in hand

 

120,065

56,747

 

137,335

63,435

Creditors: Amounts falling due within one year

6

(81,353)

(69,982)

Net current assets/(liabilities)

 

55,982

(6,547)

Total assets less current liabilities

 

92,971

12,791

Provisions for liabilities

(7,028)

(2,973)

Net assets

 

85,943

9,818

Capital and reserves

 

Called up share capital

99

99

Capital redemption reserve

1

1

Profit and loss account

85,843

9,718

Total equity

 

85,943

9,818

For the financial period ending 31 August 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their 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.

 

The Gooseberry Bush Day Nursery Ltd

(Registration number: 4786060)
Balance Sheet as at 31 August 2018

Approved and authorised by the Board on 21 November 2018 and signed on its behalf by:
 

.........................................

Ms C Stringer
Director

 

The Gooseberry Bush Day Nursery Ltd

Notes to the Financial Statements for the Period from 1 July 2017 to 31 August 2018

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Kemble Airfield Enterprise Park
Kemble
Cirencester
GL7 6BQ

These financial statements were authorised for issue by the Board on 21 November 2018.

2

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 and deferred 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 Gooseberry Bush Day Nursery Ltd

Notes to the Financial Statements for the Period from 1 July 2017 to 31 August 2018

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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 under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Fixtures and fittings

15% reducing balance

Motor vehicles

25% reducing balance

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.

 

The Gooseberry Bush Day Nursery Ltd

Notes to the Financial Statements for the Period from 1 July 2017 to 31 August 2018

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

The Gooseberry Bush Day Nursery Ltd

Notes to the Financial Statements for the Period from 1 July 2017 to 31 August 2018

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 30 (2017 - 33).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2017

71,827

-

71,827

Additions

4,533

28,209

32,742

Disposals

(22,831)

-

(22,831)

At 31 August 2018

53,529

28,209

81,738

Depreciation

At 1 July 2017

52,490

-

52,490

Charge for the period

3,821

4,702

8,523

Eliminated on disposal

(16,264)

-

(16,264)

At 31 August 2018

40,047

4,702

44,749

Carrying amount

At 31 August 2018

13,482

23,507

36,989

At 30 June 2017

19,338

-

19,338

5

Debtors

2018
£

2017
£

Trade debtors

-

286

Prepayments

2,046

1,627

Other debtors

15,224

4,775

17,270

6,688

 

The Gooseberry Bush Day Nursery Ltd

Notes to the Financial Statements for the Period from 1 July 2017 to 31 August 2018

6

Creditors

Creditors: amounts falling due within one year

Note

2018
£

2017
£

Due within one year

 

Bank loans and overdrafts

7

22

-

Trade creditors

 

2,727

3,106

Taxation and social security

 

-

6,086

Accruals and deferred income

 

55,243

35,045

Other creditors

 

23,361

25,745

 

81,353

69,982

7

Loans and borrowings

2018
£

2017
£

Current loans and borrowings

Other borrowings

22

-

8

Related party transactions

Directors' remuneration

The directors' remuneration for the period was as follows:

2018
£

2017
£

Remuneration

50,587

29,500

Contributions paid to money purchase schemes

8,000

12,000

58,587

41,500