REPORT OF THE DIRECTORS AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
FOR
NEWBY FUN FACTORY LIMITED
NEWBY FUN FACTORY LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
| Page | |
|---|---|
| Company Information | 1 |
| Report of the Directors | 2 |
| Statement of Income and Retained Earnings | 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 2021
DIRECTORS:
H R Stead J K Merritt S Liddle C S Liddle L Ferrey
REGISTERED OFFICE:
REGISTERED NUMBER:
The Green Scarborough North Yorkshire YO12 5JA 04258025 (England and Wales)
Page 1
NEWBY FUN FACTORY LIMITED
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 JULY 2021
The directors present their report with the financial statements of the company for the year ended 31 July 2021.
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 2020 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
26 April 2022
Page 2
NEWBY FUN FACTORY LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE YEAR ENDED 31 JULY 2021
| 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 Retained earnings at beginning of year RETAINED EARNINGS AT END OF YEAR |
31.7.21 £ 275,397 4,293 271,104 245,001 26,103 7,024 33,127 40 33,167 - 33,167 229,082 262,249 |
31.7.20 £ 293,194 13,073 |
|---|---|---|
| 280,121 262,479 |
||
| 17,642 5,853 |
||
| 23,495 263 |
||
| 23,758 - |
||
| 23,758 205,324 |
||
| 229,082 |
The notes form part of these financial statements
Page 3
NEWBY FUN FACTORY LIMITED
BALANCE SHEET 31 JULY 2021
| 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 |
31.7.21 £ - 271,878 271,878 11,438 |
£ 2,737 260,440 263,177 928 262,249 263,177 |
31.7.20 £ 1,558 236,653 238,211 12,286 |
£ 4,085 225,925 |
|---|---|---|---|---|
| 230,010 | ||||
| 928 229,082 |
||||
| 230,010 |
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 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 26 April 2022 and were signed on its behalf by:
S Liddle - Director
The notes form part of these financial statements
Page 4
NEWBY FUN FACTORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
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 Statement of Income and Retained Earnings, 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 14 (2020 - 13).
4. OPERATING PROFIT
The operating profit is stated after charging:
Depreciation - owned assets
31.7.21 31.7.20 £ £ 1,348 2,012
Page 5
continued...
NEWBY FUN FACTORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021
5. TANGIBLE FIXED ASSETS
| 5. | TANGIBLE FIXED ASSETS | ||
|---|---|---|---|
| Plant and | |||
| machinery | |||
| etc | |||
| £ | |||
| COST | |||
| At 1 August 2020 | |||
| and 31 July 2021 | 16,001 | ||
| DEPRECIATION | |||
| At 1 August 2020 | 11,916 | ||
| Charge for year | 1,348 | ||
| At 31 July 2021 | 13,264 | ||
| NET BOOK VALUE | |||
| At 31 July 2021 | 2,737 | ||
| At 31 July 2020 | 4,085 | ||
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.7.21 | 31.7.20 | ||
| £ | £ | ||
| Trade debtors | - | 1,558 | |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.7.21 | 31.7.20 | ||
| £ | £ | ||
| Taxation and social security | 3,511 | 3,289 | |
| Other creditors | 7,927 | 8,997 | |
| 11,438 | 12,286 |
Page 6
NEWBY FUN FACTORY LIMITED
TRADING AND PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 JULY 2021
| 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 Professional fees Finance costs Bank charges Depreciation Fixtures and fittings NET PROFIT |
31.7.21 £ 2,207 2,086 7,024 40 1,980 683 208,682 5,792 3,254 2,297 1,294 6,029 - 6,129 256 1,346 5,078 |
£ 275,397 4,293 271,104 7,064 278,168 242,820 35,348 833 34,515 1,348 33,167 |
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 |
This page does not form part of the statutory financial statements
Page 7