Company Registration No. 04611107 (England and Wales)
SANDHILL LITTLE ANGELS NURSERY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
PAGES FOR FILING WITH REGISTRAR
SANDHILL LITTLE ANGELS NURSERY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SANDHILL LITTLE ANGELS NURSERY LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2019
30 September 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
12,688
14,588
Current assets
Debtors
4
17,270
57,606
Cash at bank and in hand
70,214
24,245
87,484
81,851
Creditors: amounts falling due within one year
5
(28,275)
(9,893)
Net current assets
59,209
71,958
Total assets less current liabilities
71,897
86,546
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
71,895
86,544
Total equity
71,897
86,546
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 19 June 2020 and are signed on its behalf by:
Mrs N Ross
Director
Company Registration No. 04611107
SANDHILL LITTLE ANGELS NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 2 -
1
Accounting policies
Company information
Sandhill Little Angels Nursery Limited is a
private
company
limited by shares
incorporated in England and Wales, company number 04611107. The registered office is
The Sandhill Centre, Grindon Lane, Grindon, Sunderland, SR3 4EN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
A
true
t the time of approving the financial statements
,
t
he directors have a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
10% Straight Line
Fixtures, fittings & equipment
25% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand
.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
SANDHILL LITTLE ANGELS NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are
measured at transaction price including transaction costs
. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities are classified according to the substance of the contractual arrangements entered into.
Basic financial liabilities
Basic financial liabilities, including creditors are recognised at transaction price.
Financial liabilities classified as payable within one year are not amortised.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable
.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2019
2018
Number
Number
Total
26
26
SANDHILL LITTLE ANGELS NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 4 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2018
14,196
20,173
34,369
Additions
-
871
871
At 30 September 2019
14,196
21,044
35,240
Depreciation and impairment
At 1 October 2018
1,420
18,361
19,781
Depreciation charged in the year
1,420
1,351
2,771
At 30 September 2019
2,840
19,712
22,552
Carrying amount
At 30 September 2019
11,356
1,332
12,688
At 30 September 2018
12,776
1,812
14,588
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
17,270
51,606
Other debtors
-
6,000
17,270
57,606
5
Creditors: amounts falling due within one year
2019
2018
£
£
Corporation tax
4,136
3,310
Other taxation and social security
2,622
2,577
Other creditors
21,517
4,006
28,275
9,893
6
Called up share capital
2019
2018
£
£
Ordinary share capital
2 Ordinary Shares of £1 each
2
2
SANDHILL LITTLE ANGELS NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 5 -
7
Related party transactions
During the year the company entered into the following transactions with related parties:
The directors of Sandhills Little Angels Nursery Limited are both directors in an another company. The entities operate from different sites but share certain income and expenses. At the year end the company was owed £14,340 by this connected company.
8
Directors' transactions
Included within other creditors, is a balance of £
12,900
(2018: £
6,000 included in debtors
) due to the directors. This loan is interest free and repayable on demand.