REPORT OF THE DIRECTORS AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020
FOR
NEWBY FUN FACTORY LIMITED
NEWBY FUN FACTORY LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020
| Page | |
|---|---|
| Company Information | 1 |
| Report of the Directors | 2 |
| Income Statement | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 |
| Trading and Profit and Loss Account | 7 |
NEWBY FUN FACTORY LIMITED
COMPANY INFORMATION FOR THE YEAR ENDED 31 JULY 2020
DIRECTORS: H R Stead J K Merritt S Liddle C S Liddle L Ferrey REGISTERED OFFICE: The Green Scarborough North Yorkshire YO12 5JA REGISTERED NUMBER: 04258025 (England and Wales)
Page 1
NEWBY FUN FACTORY LIMITED
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 JULY 2020
The directors present their report with the financial statements of the company for the year ended 31 July 2020.
PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the provision of before and after school/holiday child care. The company is limited by guarantee and does not have any share capital.
DIRECTORS
The directors shown below have held office during the whole of the period from 1 August 2019 to the date of this report.
H R Stead J K Merritt S Liddle C S Liddle L Ferrey
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
ON BEHALF OF THE BOARD:
J K Merritt - Director
27 April 2021
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NEWBY FUN FACTORY LIMITED
INCOME STATEMENT FOR THE YEAR ENDED 31 JULY 2020
| Notes TURNOVER Cost of sales GROSS PROFIT Administrative expenses Other operating income OPERATING PROFIT 4 Interest receivable and similar income PROFIT BEFORE TAXATION Tax on profit PROFIT FOR THE FINANCIAL YEAR |
31.7.20 £ 293,194 13,073 280,121 262,479 17,642 5,853 23,495 263 23,758 - 23,758 |
31.7.19 £ 298,772 13,601 |
|---|---|---|
| 285,171 261,948 |
||
| 23,223 - |
||
| 23,223 214 |
||
| 23,437 - |
||
| 23,437 |
The notes form part of these financial statements
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NEWBY FUN FACTORY LIMITED
BALANCE SHEET 31 JULY 2020
| Notes FIXED ASSETS Tangible assets 5 CURRENT ASSETS Debtors 6 Cash at bank and in hand CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES RESERVES Capital redemption reserve Retained earnings |
31.7.20 £ 1,559 236,652 238,211 12,286 |
£ 4,085 225,925 230,010 928 229,082 230,010 |
31.7.19 £ 4,998 197,838 202,836 2,681 |
£ 6,097 200,155 |
|---|---|---|---|---|
| 206,252 | ||||
| 928 205,324 |
||||
| 206,252 |
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
-
(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Board of Directors and authorised for issue on 27 April 2021 and were signed on its behalf by:
S Liddle - Director
The notes form part of these financial statements
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NEWBY FUN FACTORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020
1. STATUTORY INFORMATION
Newby Fun Factory Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.
ACCOUNTING POLICIES
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings - 33% on reducing balance
Government grants
Grants in relation to tangible fixed assets are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to the profit and loss account.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
3.
EMPLOYEES AND DIRECTORS
The average number of employees during the year was 13 (2019 - 14).
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continued...
NEWBY FUN FACTORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020
4. OPERATING PROFIT
The operating profit is stated after charging:
5.
6.
7.
| 31.7.20 | 31.7.19 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 2,012 | 3,003 |
| TANGIBLE FIXED ASSETS | ||
| Plant and | ||
| machinery | ||
| etc | ||
| £ | ||
| COST | ||
| At 1 August 2019 | ||
| and 31 July 2020 | 16,001 | |
| DEPRECIATION | ||
| At 1 August 2019 | 9,904 | |
| Charge for year | 2,012 | |
| At 31 July 2020 | 11,916 | |
| NET BOOK VALUE | ||
| At 31 July 2020 | 4,085 | |
| At 31 July 2019 | 6,097 | |
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.7.20 | 31.7.19 | |
| £ | £ | |
| Trade debtors | 1,559 | 4,998 |
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.7.20 | 31.7.19 | |
| £ | £ | |
| Taxation and social security | 3,289 | 2,681 |
| Other creditors | 8,997 | - |
| 12,286 | 2,681 |
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NEWBY FUN FACTORY LIMITED
TRADING AND PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 JULY 2020
| Sales Cost of sales Purchases Dinners GROSS PROFIT Other income Government grants Deposit account interest Expenditure Rent Insurance Wages Pensions Telephone Post, stationery and adverts Visits and travelling Software and website Repairs and renewals Training and HR Sundry expenses Accountancy and payroll Finance costs Bank charges Depreciation Fixtures and fittings NET PROFIT |
31.7.20 £ 5,649 7,424 5,853 263 4,680 693 217,401 6,075 3,022 2,968 4,032 9,121 247 8,583 1,278 1,261 |
£ 293,194 13,073 280,121 6,116 286,237 259,361 26,876 1,106 25,770 2,012 23,758 |
31.7.19 £ 5,375 8,226 - 214 1,815 495 222,817 4,403 2,146 3,524 5,333 9,091 - 4,692 2,738 851 |
£ 298,772 13,601 |
|---|---|---|---|---|
| 285,171 214 |
||||
| 285,385 257,905 |
||||
| 27,480 1,040 |
||||
| 26,440 3,003 |
||||
| 23,437 |
This page does not form part of the statutory financial statements
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