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Company registration number: 06675723
Boys & Girls Nursery Limited
Unaudited filleted financial statements
30 November 2021
Boys & Girls Nursery Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Boys & Girls Nursery Limited
Directors and other information
Directors Mr J Kirby
Mrs N Kirby
Company number 06675723
Registered office 34 High Road
Bushey Heath
Hertfordshire
WD23 1GG
Business address 34 High Road
Bushey Heath
Hertfordshire
WD23 1GG
Accountants Pritchard Fellows & Co. Limited
Avery House
8 Avery Hill Road
New Eltham
SE9 2BD
Boys & Girls Nursery Limited
Statement of financial position
30 November 2021
2021 2020
Note £ £ £ £
Fixed assets
Tangible assets 5 2,623,121 2,679,047
Investments 6 8 8
_______ _______
2,623,129 2,679,055
Current assets
Debtors 7 2,318,660 2,126,937
Cash at bank and in hand 654,815 1,566,885
_______ _______
2,973,475 3,693,822
Creditors: amounts falling due
within one year 8 ( 666,884) ( 661,682)
_______ _______
Net current assets 2,306,591 3,032,140
_______ _______
Total assets less current liabilities 4,929,720 5,711,195
Creditors: amounts falling due
after more than one year 9 ( 1,416,146) ( 2,695,490)
_______ _______
Net assets 3,513,574 3,015,705
_______ _______
Capital and reserves
Called up share capital 6 6
Profit and loss account 3,513,568 3,015,699
_______ _______
Shareholders funds 3,513,574 3,015,705
_______ _______
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: 06675723
Boys & Girls Nursery 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 Limited, 34 High Road, Bushey Heath, Hertfordshire, WD23 1GG.
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:
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 20 % 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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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 13 (2020: 13 ).
5. Tangible assets
Freehold property Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 December 2020 2,039,616 1,054,474 88,595 3,182,685
Additions - 23,608 104,081 127,689
Disposals - - ( 75,500) ( 75,500)
_______ _______ _______ _______
At 30 November 2021 2,039,616 1,078,082 117,176 3,234,874
_______ _______ _______ _______
Depreciation
At 1 December 2020 - 444,334 59,304 503,638
Charge for the year - 134,913 21,168 156,081
Disposals - - ( 47,966) ( 47,966)
_______ _______ _______ _______
At 30 November 2021 - 579,247 32,506 611,753
_______ _______ _______ _______
Carrying amount
At 30 November 2021 2,039,616 498,835 84,670 2,623,121
_______ _______ _______ _______
At 30 November 2020 2,039,616 610,140 29,291 2,679,047
_______ _______ _______ _______
6. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 December 2020 and 30 November 2021 8 8
_______ _______
Impairment
At 1 December 2020 and 30 November 2021 - -
_______ _______
Carrying amount
At 30 November 2021 8 8
_______ _______
At 30 November 2020 8 8
_______ _______
7. Debtors
2021 2020
£ £
Other debtors 2,318,660 2,126,937
_______ _______
8. Creditors: amounts falling due within one year
2021 2020
£ £
Bank loans and overdrafts 107,509 90,137
Trade creditors 6,295 -
Amounts owed to group undertakings 492,239 546,342
Social security and other taxes 14,909 13,309
Other creditors 45,932 11,894
_______ _______
666,884 661,682
_______ _______
9. Creditors: amounts falling due after more than one year
2021 2020
£ £
Bank loans and overdrafts 1,043,496 2,344,955
Other creditors 372,650 350,535
_______ _______
1,416,146 2,695,490
_______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2021
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr J Kirby 77,618 ( 78,884) ( 1,266)
Mrs N Kirby 77,618 ( 78,884) ( 1,266)
_______ _______ _______
155,236 ( 157,768) ( 2,532)
_______ _______ _______
2020
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr J Kirby 625,621 ( 548,003) 77,618
Mrs N Kirby 625,621 ( 548,003) 77,618
_______ _______ _______
1,251,242 ( 1,096,006) 155,236
_______ _______ _______