Company Registration No. SC167570 (Scotland)
ABACUS NURSERY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
ABACUS NURSERY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABACUS NURSERY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
588,363
602,691
Current assets
Debtors
6,005
11,117
Cash at bank and in hand
23,168
19,539
29,173
30,656
Creditors: amounts falling due within one year
3
(114,024)
(95,853)
Net current liabilities
(84,851)
(65,197)
Total assets less current liabilities
503,512
537,494
Creditors: amounts falling due after more than one year
4
(66,447)
(79,239)
437,065
458,255
Capital and reserves
Called up share capital
5
10,526
10,526
Share premium account
40,474
40,474
Revaluation reserve
338,563
346,087
Profit and loss account
47,502
61,168
Shareholders' funds
437,065
458,255
For the financial year ended 31 August 2016 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 20 December 2016
Mrs F Armit
Director
Company Registration No. SC167570
ABACUS NURSERY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for the service and operation of a childrens' nursery.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
2% straight line
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 September 2015
730,667
Disposals
(18,693)
At 31 August 2016
711,974
Depreciation
At 1 September 2015
127,976
On disposals
(18,487)
Charge for the year
14,122
At 31 August 2016
123,611
Net book value
At 31 August 2016
588,363
At 31 August 2015
602,691
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £12,800 (2015 - £12,808).
ABACUS NURSERY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 3 -
4
Creditors: amounts falling due after more than one year
2016
2015
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
22,679
32,335
The aggregate amount of creditors for which security has been given amounted to £66,447 (2015 - £79,239).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
10,526 Ordinary Shares of £1 each
10,526
10,526