Company Registration No. 09435013 (England and Wales)
THE VILLA SCHOOL AND NURSERY HOLDINGS LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2020
PAGES FOR FILING WITH REGISTRAR
THE VILLA SCHOOL AND NURSERY HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
THE VILLA SCHOOL AND NURSERY HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2020
31 March 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Goodwill
3
2
3
Tangible assets
4
4,778,801
4,807,340
Investments
5
100
100
4,778,903
4,807,443
Current assets
Debtors
6
497,724
91,940
Cash at bank and in hand
36
10,553
497,760
102,493
Creditors: amounts falling due within one year
7
(2,356,157)
(1,736,016)
Net current liabilities
(1,858,397)
(1,633,523)
Total assets less current liabilities
2,920,506
3,173,920
Creditors: amounts falling due after more than one year
(2,533,579)
(2,634,204)
Net assets
386,927
539,716
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
386,827
539,616
Total equity
386,927
539,716
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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 and signed by the director and authorised for issue on 12 March 2021
Dr I Stoyanov
Director
Company Registration No. 09435013
THE VILLA SCHOOL AND NURSERY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
- 2 -
1
Accounting policies
Company information
The Villa School and Nursery Holdings Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
131 Downton Avenue, London, SW2 3TX.
1.1
Basis of preparation
These financial statements have been prepared in accordance with applicable accounting standards including 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. These policies have been consistently applied to all years presented unless otherwise stated.
The company has taken advantage of the exemption under section
399
of the
Companies Act 2006 not to prepare consolidated accounts
, on the basis that the group of which this is the parent qualifies as a small group
. The financial statements present information about the company as an individual entity and not about its group
.
1.2
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.
1.3
Tangible fixed assets
Tangible fixed assets are 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
4% per annum on cost of freehold buildings.
No depreciation on land
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset, or the asset's cash generating unit
is estimated
and compared to the carrying amount
in order to determine the extent of the impairment loss (if any).
Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
THE VILLA SCHOOL AND NURSERY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
1
1
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2019 and 31 March 2020
6
Amortisation and impairment
At 1 April 2019
3
Amortisation charged for the year
1
At 31 March 2020
4
Carrying amount
At 31 March 2020
2
At 31 March 2019
3
THE VILLA SCHOOL AND NURSERY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 4 -
4
Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2019
5,055,240
Additions
38,864
At 31 March 2020
5,094,104
Depreciation and impairment
At 1 April 2019
247,900
Depreciation charged in the year
67,403
At 31 March 2020
315,303
Carrying amount
At 31 March 2020
4,778,801
At 31 March 2019
4,807,340
5
Fixed asset investments
2020
2019
£
£
Investments
100
100
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2019 & 31 March 2020
100
Carrying amount
At 31 March 2020
100
At 31 March 2019
100
6
Debtors
2020
2019
Amounts falling due within one year:
£
£
Other debtors
497,724
91,940
THE VILLA SCHOOL AND NURSERY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 5 -
7
Creditors: amounts falling due within one year
2020
2019
£
£
Bank loans
90,040
90,040
Taxation and social security
6,217
6,217
Other creditors
2,259,900
1,639,759
2,356,157
1,736,016
8
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
100
100
9
Directors' transactions
At the year end there is a balance owed from the company director amounting to £497,724 (2019 - £38,633
).
Dividends totalling £Nil (2019 - £Nil) were paid in the year in respect of shares held by the company's directors.