Registered number
10422992
Ladybugs Nursery and Pre-School Ltd
Filleted Accounts
31 October 2021
Ladybugs Nursery and Pre-School Ltd
Registered number: 10422992
Balance Sheet
as at 31 October 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 456 503
Current assets
Cash at bank and in hand 10,730 10,839
Creditors: amounts falling due within one year 4 (7,599) (4,086)
Net current assets 3,131 6,753
Net assets 3,587 7,256
Capital and reserves
Called up share capital 2 2
Profit and loss account 3,585 7,254
Shareholders' funds 3,587 7,256
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sharon Fellows
Director
Approved by the board on 13 September 2022
Ladybugs Nursery and Pre-School Ltd
Notes to the Accounts
for the year ended 31 October 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and fittings 15% reducing balance
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2020 819
At 31 October 2021 819
Depreciation
At 1 November 2020 316
Charge for the year 47
At 31 October 2021 363
Net book value
At 31 October 2021 456
At 31 October 2020 503
4 Creditors: amounts falling due within one year 2021 2020
£ £
Trade creditors 935 -
Taxation and social security costs 2,430 2,145
Other creditors 4,234 1,941
7,599 4,086
5 Other information
Ladybugs Nursery and Pre-School Ltd is a private company limited by shares and incorporated in England. Its registered office is:
C/O P1 Accounting Services Ltd
8 The Parade
Shifnal
Shropshire
TF11 8DL
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