Company Registration No. 05102093 (England and Wales)
LITTLE OWLS NURSERY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2016
LB GROUP
Swift House
Ground Floor
18 Hoffmanns Way
Chelmsford
Essex
UK
CM1 1GU
LITTLE OWLS NURSERY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
LITTLE OWLS NURSERY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JULY 2016
31 July 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
91,530
67,517
Current assets
Debtors
3
107,428
4,790
Cash at bank and in hand
80,765
125,874
188,193
130,664
Creditors: amounts falling due within one year
(98,850)
(96,213)
Net current assets
89,343
34,451
Total assets less current liabilities
180,873
101,968
Provisions for liabilities
(14,400)
(9,300)
166,473
92,668
Capital and reserves
Called up share capital
4
100,000
100,000
Profit and loss account
66,473
(7,332)
Shareholders' funds
166,473
92,668
For the financial year ended 31 July 2016 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 April 2017
M Ashraf
Director
Company Registration No. 05102093
LITTLE OWLS NURSERY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of trade discounts.
of
trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Improvement to premises
straight line over the life of the lease
Plant and machinery
25% straight line
Fixtures, fittings & equipment
15% reducing balance
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.6
Government grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
1.7
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.
LITTLE OWLS NURSERY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 August 2015
233,307
Additions
39,555
Disposals
(11,453)
At 31 July 2016
261,409
Depreciation
At 1 August 2015
165,791
On disposals
(9,789)
Charge for the year
13,877
At 31 July 2016
169,879
Net book value
At 31 July 2016
91,530
At 31 July 2015
67,517
3
Debtors
Debtors include an amount of £92,187 (2015 - £-) which is due after more than one year.
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100,000 Ordinary shares of £1 each
100,000
100,000