Registration number: 05179971
Rainbow Pre-School (Stansted)
(A company limited by guarantee)
Annual Report and Unaudited Financial Statements
for the Year Ended 31 August 2021
Mansell & Co Chartered Certified Accountants 5 Ducketts Wharf South Street Bishop's Stortford Hertfordshire CM23 3AR
Rainbow Pre-School (Stansted)
Contents
| Company Information | 1 |
|---|---|
| Directors' Report | 2 |
| Accountants' Report | 3 |
| Profit and Loss Account | 4 |
| Statement of Comprehensive Income | 5 |
| Balance Sheet | 6 |
| Statement of Changes in Equity | 7 |
| Notes to the Unaudited Financial Statements | 8 to 11 |
| Detailed Profit and Loss Account | 12 to 13 |
Rainbow Pre-School (Stansted)
Company Information
Directors C Y Hardy GM Pursglove Registered office The Peter Kirk Centre St Johns Road Stansted Essex CM24 8JP Accountants Mansell & Co Chartered Certified Accountants 5 Ducketts Wharf South Street Bishop's Stortford Hertfordshire CM23 3AR
Page 1
Rainbow Pre-School (Stansted)
Directors' Report for the Year Ended 31 August 2021
The directors present their report and the financial statements for the year ended 31 August 2021.
Director of the company
The directors who held office during the year were as follows:
C Y Hardy
GM Pursglove
Principal activity
The principal activity of the company is pre-school education
Small companies provision statement
This report has 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.
Approved and authorised by the Board on .................... and signed on its behalf by:
......................................... C Y Hardy Director
Page 2
Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of Rainbow Pre-School (Stansted) for the Year Ended 31 August 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Rainbow Pre-School (Stansted) for the year ended 31 August 2021 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html .
This report is made solely to the Board of Directors of Rainbow Pre-School (Stansted), as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Rainbow Pre-School (Stansted) and state those matters that we have agreed to state to the Board of Directors of Rainbow Pre-School (Stansted), as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/ october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rainbow Pre-School (Stansted) and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Rainbow Pre-School (Stansted) has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Rainbow Pre-School (Stansted). You consider that Rainbow Pre-School (Stansted) is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Rainbow Pre-School (Stansted). For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Mansell & Co Chartered Certified Accountants 5 Ducketts Wharf South Street Bishop's Stortford Hertfordshire CM23 3AR Date:.............................
Page 3
Rainbow Pre-School (Stansted)
Profit and Loss Account for the Year Ended 31 August 2021
| Note Turnover Gross surplus Administrative expenses Other operating income Operating (deficit)/surplus Other interest receivable and similar income (Deficit)/surplus before tax 4 (Deficit)/surplus for the financial year The above results were derived from continuing operations. |
2021 £ 68,073 68,073 (76,437) 2,635 (5,729) 12 (5,717) (5,717) |
2020 £ 87,780 |
|---|---|---|
| 87,780 (76,970) 2,531 |
||
| 13,341 185 |
||
| 13,526 | ||
| 13,526 | ||
The company has no recognised gains or losses for the year other than the results above.
The notes on pages 8 to 11 form an integral part of these financial statements. Page 4
Rainbow Pre-School (Stansted)
Statement of Comprehensive Income for the Year Ended 31 August 2021
| (Deficit)/surplus for the year Total comprehensive income for the year |
2021 £ (5,717) (5,717) |
2020 £ 13,526 |
|---|---|---|
| 13,526 |
The notes on pages 8 to 11 form an integral part of these financial statements. Page 5
Rainbow Pre-School (Stansted)
(Registration number: 05179971) Balance Sheet as at 31 August 2021
| Note 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 Creditors: Amounts falling due after more than one year 7 Net assets Capital and reserves Profit and loss account Shareholders' funds |
2021 £ 1,950 794 162,606 163,400 (11,396) 152,004 153,954 (46,585) 107,369 107,369 107,369 |
2020 £ 340 567 169,164 |
|---|---|---|
| 169,731 (12,803) |
||
| 156,928 | ||
| 157,268 (44,182) |
||
| 113,086 | ||
| 113,086 | ||
| 113,086 |
For the financial year ending 31 August 2021 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 accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their 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 Profit and Loss Account has been taken.
Approved and authorised by the Board on .................... and signed on its behalf by:
......................................... C Y Hardy Director
The notes on pages 8 to 11 form an integral part of these financial statements. Page 6
Rainbow Pre-School (Stansted)
Statement of Changes in Equity for the Year Ended 31 August 2021
| At 1 September 2020 Deficit for the year Total comprehensive income At 31 August 2021 At 1 September 2019 Surplus for the year Total comprehensive income At 31 August 2020 |
Profit and loss account £ 113,086 (5,717) (5,717) 107,369 Profit and loss account £ 99,560 13,526 13,526 113,086 |
Total £ 113,086 (5,717) |
|---|---|---|
| (5,717) | ||
| 107,369 | ||
| Total £ 99,560 13,526 |
||
| 13,526 | ||
| 113,086 |
The notes on pages 8 to 11 form an integral part of these financial statements. Page 7
Rainbow Pre-School (Stansted)
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021
1 General information
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.
The address of its registered office is: The Peter Kirk Centre St Johns Road Stansted Essex CM24 8JP
These financial statements were authorised for issue by the Board on ........... .
2 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 balance sheet 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:
Asset class
Fixtures and fittings
Depreciation method and rate 25% reducing balance
Page 8
Rainbow Pre-School (Stansted)
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
3 Staff numbers
The average number of persons employed by the company (including directors) during the year, was 7 (2020 - 8).
4 Loss/profit before tax
Arrived at after charging/(crediting)
| Depreciation expense | 2021 £ 651 |
2020 £ 114 |
|---|---|---|
Page 9
Rainbow Pre-School (Stansted)
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021
5 Tangible assets
| Cost or valuation At 1 September 2020 Additions At 31 August 2021 Depreciation At 1 September 2020 Charge for the year At 31 August 2021 Carrying amount At 31 August 2021 At 31 August 2020 6 Debtors Prepayment insurance Total current trade and other debtors 7 Creditors Creditors: amounts falling due within one year Due within one year Taxation and social security Accruals and deferred income |
Fixtures and fittings £ 3,962 2,261 |
Total £ 3,962 2,261 6,223 3,622 651 4,273 1,950 340 2020 £ 567 |
||
|---|---|---|---|---|
| 6,223 | ||||
| 3,622 651 |
||||
| 4,273 | ||||
| 1,950 | ||||
| 340 | ||||
| 2021 £ 794 794 2021 £ 586 10,810 11,396 |
||||
| 567 | ||||
| 2020 £ 555 12,248 |
||||
| 12,803 |
Page 10
Rainbow Pre-School (Stansted)
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021
Creditors: amounts falling due after more than one year
| Creditors: amounts falling due after more than one year | ||
|---|---|---|
| Due after one year Deferred income Other non-current financial liabilities |
2021 £ 10,413 36,172 46,585 |
2020 £ 8,130 36,052 |
| 44,182 |
Page 11
Rainbow Pre-School (Stansted)
Detailed Profit and Loss Account for the Year Ended 31 August 2021
| Turnover (analysed below) Gross surplus (%) Administrative expenses Employment costs (analysed below) Establishment costs (analysed below) General administrative expenses (analysed below) Finance charges (analysed below) Depreciation costs (analysed below) Other operating income (analysed below) Operating (deficit)/surplus Other interest receivable and similar income (analysed below) (Deficit)/surplus before tax |
2021 £ 68,073 100% (64,020) (4,201) (7,481) (84) (651) (76,437) 2,635 (5,729) 12 (5,717) |
2020 £ 87,780 |
|---|---|---|
| 100% (64,416) (4,608) (7,772) (60) (114) |
||
| (76,970) 2,531 |
||
| 13,341 185 |
||
| 13,526 |
This page does not form part of the statutory financial statements. Page 12
Rainbow Pre-School (Stansted)
Detailed Profit and Loss Account for the Year Ended 31 August 2021
| Turnover Net receipts from parents - Sundry income Funding received Employment costs Wages and national insurance Pension cost Staff recruitment and training Establishment costs Rent Utilities and waste Insurance Consumables, renewals and maintenance General administrative expenses Administrative expenses Sundry Cleaning Uniform Advertising Gifts to helpers / Entertaining Accountancy charges Legal and professional fees Finance charges Bank charges Depreciation costs Depn - Fixtures and fittings Other operating income Grants receivable - HMRC Other interest receivable and similar income Interest received |
2021 £ 60,674 7,399 68,073 (62,679) (778) (563) (64,020) (1,334) (715) (1,134) (1,018) (4,201) (4,696) (1) (1,053) (269) (260) (602) (600) - (7,481) (84) (651) 2,635 12 |
2020 £ 67,712 20,068 |
|---|---|---|
| 87,780 | ||
| (62,949) (1,307) (160) |
||
| (64,416) | ||
| (1,334) (545) (1,309) (1,420) |
||
| (4,608) | ||
| (5,924) (8) (832) - - (90) (750) (168) |
||
| (7,772) | ||
| (60) | ||
| (114) | ||
| 2,531 | ||
| 185 |
This page does not form part of the statutory financial statements. Page 13