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Company registration number: 07797286
Boys & Girls Nursery (Croxley Green) Limited
Unaudited filleted financial statements
30 November 2021
Boys & Girls Nursery (Croxley Green) Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Boys & Girls Nursery (Croxley Green) Limited
Directors and other information
Directors Mr J Kirby
Mrs N Kirby
Company number 07797286
Registered office Woodshots Meadow
Watford
WD18 8YS
Woodshots Meadow
Watford
WD18 8YS
Accountants Pritchard Fellows & Co. Limited
Avery House
8 Avery Hill Road
New Eltham
SE9 2BD
Boys & Girls Nursery (Croxley Green) Limited
Statement of financial position
30 November 2021
2021 2020
Note £ £ £ £
Fixed assets
Tangible assets 5 12,231 15,775
_______ _______
12,231 15,775
Current assets
Debtors 6 153,205 132,567
Cash at bank and in hand 73,190 49,951
_______ _______
226,395 182,518
Creditors: amounts falling due
within one year 7 ( 195,805) ( 178,549)
_______ _______
Net current assets 30,590 3,969
_______ _______
Total assets less current liabilities 42,821 19,744
_______ _______
Net assets 42,821 19,744
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 42,819 19,742
_______ _______
Shareholders funds 42,821 19,744
_______ _______
For the year ending 30 November 2021 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 December 2021 , and are signed on behalf of the board by:
Mr J Kirby
Director
Company registration number: 07797286
Boys & Girls Nursery (Croxley Green) Limited
Notes to the financial statements
Year ended 30 November 2021
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Boys & Girls Nursery (Croxley Green) Limited, Woodshots Meadow, Watford, WD18 8YS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property - Estimated Useful life
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Basic financial instruments in debtors and creditors with no stated interest rate, and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement in other administrative expenses.Other financial assets and liabilities, such as loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 29 (2020: 28 ).
5. Tangible assets
Short leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 December 2020 544,464 28,046 572,510
Additions - 400 400
_______ _______ _______
At 30 November 2021 544,464 28,446 572,910
_______ _______ _______
Depreciation
At 1 December 2020 544,464 12,271 556,735
Charge for the year - 3,944 3,944
_______ _______ _______
At 30 November 2021 544,464 16,215 560,679
_______ _______ _______
Carrying amount
At 30 November 2021 - 12,231 12,231
_______ _______ _______
At 30 November 2020 - 15,775 15,775
_______ _______ _______
6. Debtors
2021 2020
£ £
Trade debtors 21,355 13,150
Amounts owed by group undertakings 131,850 119,417
_______ _______
153,205 132,567
_______ _______
7. Creditors: amounts falling due within one year
2021 2020
£ £
Corporation tax 53,240 75,310
Social security and other taxes 15,994 8,664
Other creditors 126,571 94,575
_______ _______
195,805 178,549
_______ _______
8. Controlling party
The company is a wholly owned subsidiary of Boys & Girls Nursery Limited, a company registered in England & Wales.