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