Registration number:
About Children Limited
for the Year Ended 31 March 2018
(taking advantage of s444 of the Companies Act 2006)
Chartered Accountants & Business Advisers
Lowther House
Lowther Street
Kendal
Cumbria
LA9 4DX
About Children Limited
(Registration number: 07120798)
Balance Sheet as at 31 March 2018
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Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Revaluation reserve |
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Profit and loss account |
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Total equity |
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Page 1 |
About Children Limited
(Registration number: 07120798)
Balance Sheet as at 31 March 2018
For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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• |
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• |
The director acknowledges her 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 Directors' report and Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Director
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Page 2 |
About Children Limited
Notes to the Financial Statements for the Year Ended 31 March 2018
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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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.
Tangible assets
Tangible assets are stated in the statement of financial position 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:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
10% reducing balance |
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Page 3 |
About Children Limited
Notes to the Financial Statements for the Year Ended 31 March 2018
Borrowings
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.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 April 2017 |
- |
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Additions |
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- |
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At 31 March 2018 |
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Depreciation |
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At 1 April 2017 |
- |
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Charge for the year |
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At 31 March 2018 |
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Carrying amount |
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At 31 March 2018 |
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At 31 March 2017 |
- |
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Included within the net book value of land and buildings above is £336,195 (2017 - £Nil) in respect of freehold land and buildings.
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Page 4 |
About Children Limited
Notes to the Financial Statements for the Year Ended 31 March 2018
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Debtors |
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2018 |
2017 |
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Trade debtors |
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Other debtors |
- |
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Total current trade and other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2018 |
2017 |
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Due within one year |
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Bank loans and overdrafts |
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- |
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Trade creditors |
- |
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Taxation and social security |
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Other creditors |
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Accruals and deferred income |
1,229 |
900 |
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Due after one year |
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Loans and borrowings |
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- |
Creditors: amounts falling due after more than one year
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Note |
2018 |
2017 |
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Due after one year |
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Loans and borrowings |
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- |
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Page 5 |
About Children Limited
Notes to the Financial Statements for the Year Ended 31 March 2018
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Loans and borrowings |
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2018 |
2017 |
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Non-current loans and borrowings |
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Bank borrowings |
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- |
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2018 |
2017 |
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Current loans and borrowings |
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Bank borrowings |
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- |
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Page 6 |