Company Registration No. SC308397 (Scotland)
OLD DOUNE ROAD NURSERY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2020
PAGES FOR FILING WITH REGISTRAR
OLD DOUNE ROAD NURSERY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
OLD DOUNE ROAD NURSERY LIMITED
BALANCE SHEET
AS AT
30 JUNE 2020
30 June 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
338,889
341,926
Current assets
Debtors
4
18,284
4,148
Cash at bank and in hand
71,086
29,790
89,370
33,938
Creditors: amounts falling due within one year
5
(62,766)
(62,273)
Net current assets/(liabilities)
26,604
(28,335)
Total assets less current liabilities
365,493
313,591
Creditors: amounts falling due after more than one year
6
(49,167)
-
Provisions for liabilities
(5,722)
(7,381)
Net assets
310,604
306,210
Capital and reserves
Called up share capital
7
62,500
62,500
Profit and loss reserves
248,104
243,710
Total equity
310,604
306,210
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 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her 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.
OLD DOUNE ROAD NURSERY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2020
30 June 2020
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 25 February 2021
Ms Lorna Jack
Director
Company Registration No. SC308397
OLD DOUNE ROAD NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2020
- 3 -
1
Accounting policies
Company information
Old Doune Road Nursery Limited is a
private
company
limited by shares
incorporated in Scotland.
The registered office is
18 Strathallan Road, Bridge of Allan, United Kingdom, FK9 4BS.
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.
1.2
Turnover
Turnover
is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
1.3
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:
Freehold property
1% on cost
Property improvements
10% on cost
Fixtures & fittings
15% on reducing balance
Computer equipment
33% on cost
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
.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
OLD DOUNE ROAD NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2020
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 21 (2019 - 21
).
3
Tangible fixed assets
Freehold property
Property improvements
Fixtures & fittings
Computer equipment
Total
£
£
£
£
£
Cost
At 1 July 2019
357,649
12,519
42,931
2,341
415,440
Additions
-
3,757
1,266
260
5,283
At 30 June 2020
357,649
16,276
44,197
2,601
420,723
Depreciation and impairment
At 1 July 2019
45,299
1,920
24,022
2,273
73,514
Depreciation charged in the year
3,576
1,628
3,026
90
8,320
At 30 June 2020
48,875
3,548
27,048
2,363
81,834
Carrying amount
At 30 June 2020
308,774
12,728
17,149
238
338,889
At 30 June 2019
312,350
10,599
18,909
68
341,926
OLD DOUNE ROAD NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2020
- 5 -
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Other debtors
-
2,999
Prepayments and accrued income
18,284
1,149
18,284
4,148
5
Creditors: amounts falling due within one year
2020
2019
£
£
Bank loans
833
10,077
Trade creditors
2,130
-
Amounts owed to group undertakings
4,828
28,418
Corporation tax
1,354
560
Other taxation and social security
10,392
1,926
Other creditors
-
4,926
Accruals and deferred income
43,229
16,366
62,766
62,273
6
Creditors: amounts falling due after more than one year
2020
2019
£
£
Bank loans and overdrafts
49,167
-
7
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
62,500 Ordinary of £1 each
62,500
62,500
8
Related party transactions
The Company is a wholly owned subsidiary of Lecropt Ltd.
At the year end the Company owed £4,828 (2019 - £28,418) to Lecropt Ltd.