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Registration number: 06763730

Canterbury Road Day Nursery Ltd
Annual Report and
Unaudited Financial Statements

31 December 2021

 

Canterbury Road Day Nursery Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Canterbury Road Day Nursery Ltd

Balance Sheet
31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

780,545

774,279

Current assets

 

Debtors

5

55,382

4,850

Cash at bank and in hand

 

169,894

161,273

 

225,276

166,123

Creditors: Amounts falling due within one year

6

(117,607)

(134,289)

Net current assets

 

107,669

31,834

Total assets less current liabilities

 

888,214

806,113

Creditors: Amounts falling due after more than one year

6

(268,490)

(288,146)

Net assets

 

619,724

517,967

Capital and reserves

 

Called up share capital

2

2

Other reserves

189,675

189,675

Profit and loss account

430,047

328,290

Shareholders' funds

 

619,724

517,967

 

Canterbury Road Day Nursery Ltd

Balance Sheet
31 December 2021

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 12 September 2022 and signed on its behalf by:
 

.........................................
Mr S B Mcdermottroe
Director

Company Registration Number: 06763730

 

Canterbury Road Day Nursery Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Tower House
269 Walmersley Road
Bury
Lancashire
BL9 6NX

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Canterbury Road Day Nursery Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 December 2021

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

15% Reducing-Balance

Motor Vehicles

15% Reducing-Balance

Toys & Equipment

15% Reducing-Balance

Computer Equipment

15% Reducing-Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Canterbury Road Day Nursery Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 December 2021

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Canterbury Road Day Nursery Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 December 2021

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 31 (2020 - 39).

 

Canterbury Road Day Nursery Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 December 2021

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Motor vehicles
 £

Other tangible assets
 £

Total
£

Cost or valuation

At 1 January 2021

754,445

52,039

2,268

57,665

866,417

Additions

-

476

-

9,333

9,809

At 31 December 2021

754,445

52,515

2,268

66,998

876,226

Depreciation

At 1 January 2021

-

41,729

1,742

48,667

92,138

Charge for the year

-

1,593

79

1,871

3,543

At 31 December 2021

-

43,322

1,821

50,538

95,681

Carrying amount

At 31 December 2021

754,445

9,193

447

16,460

780,545

At 31 December 2020

754,445

10,310

526

8,998

774,279

Included within the net book value of land and buildings above is £754,445 (2020 - £754,445) in respect of freehold land and buildings.
 

 

Canterbury Road Day Nursery Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 December 2021

5

Debtors

2021
£

2020
£

Trade debtors

6,308

4,770

Other debtors

49,074

80

55,382

4,850

6

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Trade creditors

1,063

1,860

Taxation and social security

86,280

58,342

Accruals and deferred income

1,950

1,200

Other creditors

28,314

72,887

117,607

134,289

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

7

268,490

288,146

7

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

223,502

238,146

Other borrowings

44,988

50,000

268,490

288,146

 

Canterbury Road Day Nursery Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 December 2021

8

Related party transactions

Directors' remuneration

The directors are remunerated by the company. The directors consider that their remuneration meets the criteria of being under normal market conditions.
The directors who are also shareholders receive dividends as part of this remuneration package.