Little PalsChildren’s Centre Nursery Annual Report of the Trustees for the year From 1 April 2020 to 31 March 2021
Reference and Administration
Little Pals Children’s Centre Nursery Registered Company No. 6851649, Registered Charity No. 1130074 Registered Office: Clacton Coastal Academy, Jaywick Lane, Clactonon-Sea, Essex CO16 8BE
Trustees for the year 2020/2021: Gillian Smith, Andrew Mowle, Paul Kilshaw, Katherine Wright, Rosemary Kilshaw.
Structure, Governance and Management.
Little Pals Children’s Centre Nursery is a Limited Company for charitable purposes.
Objectives and Activities.
Through operating a pre-school or other facilities to enhance the development and education of the children primarily under statutory school age within the Tendring District and the surrounding area by encouraging parents to understand and provide for the needs of their children through community groups and by:
-
(a)Offering appropriate play facilities and training courses, together with the right of parents to take responsibility for and to become involved in the activities of such groups, ensuring that such groups offer opportunities for all children whatever their race, culture, religion, means or ability.
-
(b)Encouraging the study of the needs of such children and their families and promoting public interest in and recognition of such needs in the local areas.
-
(c) Instigating and adhering to and furthering the aims of the charity.
Review of the year.
The year has been dominated by the advent of the Covid-19 Pandemic and its drastic influence on the lives of us all. This has been particularly noticeable in the area in which we operate as it has significant pockets of high levels of child poverty and deprivation. As the year has progressed and the effects of the Pandemic on families have become ever more apparent we have responded by securing several grants to help young families in need in terms of their general health and wellbeing and our staff have been very active in supplying food, support and assistance where required to these families in need.
The Hemmington House Centre which we opened in Jaywick, which is one of the most deprived wards in England, is secured for the long term and we have been carrying out extensive improvements to the building and the provision of services as part of making it a Centre of Excellence and this is proving to be successful in part in meeting some of the needs of this very deprived area. We are still actively seeking funding from various organisations to further enhance or service provision over the area in which we serve.
The highest priority as always is to maintain an excellent standard of service for children and parents/carers, good staff relations and creating a robust and efficient management structure whilst maintaining financial viability. Finance
The financial position in operational terms is good and we have a strong reserves policy to develop our service further and also to cover variations in a very competitive market. We continue to exercise tight controls on expenditure and maximise income.
Board of Trustees for The Lt Pals Children’s Centre Nursery
Company registration number: 06851649
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED Trading as LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Unaudited financial statements
31 March 2021
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Contents
| Page | |
|---|---|
| Directors and other information | 1 |
| Directors report | 2 |
| Statement of comprehensive income | 3 |
| Statement of financial position | 4 - 5 |
| Statement of changes in equity | 6 |
| Notes to the financial statements | 7 - 10 |
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Directors and other information
Directors
Mr Andrew Mowle Mrs Gillian Smith
Company number 06851649
Business address
Tendering Education Centre Jaywick Lane Clacton On Sea Essex CO16 8BE
Page 1
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Directors report Year ended 31 March 2021
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2021.
Directors
The directors who served the company during the year were as follows:
Mr Andrew Mowle Mrs Gillian Smith
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on .............................. and signed on behalf of the board by:
Mr Andrew Mowle Director
Mrs Gillian Smith Director
Page 2
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Statement of comprehensive income Year ended 31 March 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Turnover | 520,866 | 400,966 | |||
| Cost of sales | - | - | |||
| Administrative expenses | (444,687 | ) | (398,516 | ) | |
| Operating profit | 76,179 | 2,450 | |||
| Other interest receivable and similar income | 28 | 40 | |||
| Profit before taxation | 5 | 76,207 | 2,490 | ||
| Tax on profit | - | - | |||
| Profit for the financial year and total | |||||
| comprehensive income | 76,207 | 2,490 |
All the activities of the company are from continuing operations.
The notes on pages 7 to 10 form part of these financial statements.
Page 3
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Statement of financial position 31 March 2021
| Note Fixed assets Tangible assets 6 Current assets Debtors 7 Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 9 Net assets Capital and reserves Called up share capital Profit and loss account Shareholders funds |
2021 £ £ 58,568 58,568 1 430,517 430,518 ) (15,817 414,701 473,269 ) (16,000 457,269 1 457,268 457,269 |
2020 £ £ 22,676 22,676 1 361,735 361,736 ) (3,350 358,386 381,062 - 381,062 1 381,061 381,062 |
2020 £ £ 22,676 22,676 1 361,735 361,736 ) (3,350 358,386 381,062 - 381,062 1 381,061 381,062 |
|---|---|---|---|
| 381,062 - |
|||
| 381,062 | |||
| 1 381,061 |
|||
| 381,062 |
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The notes on pages 7 to 10 form part of these financial statements.
Page 4
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Statement of financial position (continued) 31 March 2021
These financial statements were approved by the board of directors and authorised for issue on 10 August 2021, and are signed on behalf of the board by:
Mr Andrew Mowle Mrs Gillian Smith Director Director
Company registration number: 06851649
The notes on pages 7 to 10 form part of these financial statements.
Page 5
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Statement of changes in equity Year ended 31 March 2021
| Called up share capital Profit and loss account £ £ At 1 April 2019 1 378,571 Profit for the year 2,490 Total comprehensive income for the year - 2,490 At 31 March 2020 and 1 April 2020 1 381,061 Profit for the year 76,207 Total comprehensive income for the year - 76,207 At 31 March 2021 1 457,268 |
Total £ 378,572 2,490 |
|---|---|
| 2,490 | |
| 381,062 76,207 |
|
| 76,207 | |
| 457,269 |
Page 6
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Notes to the financial statements Year ended 31 March 2021
1. General information
The company is a private company limited by shares, registered in . The address of the registered office is .
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Page 7
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Notes to the financial statements (continued) Year ended 31 March 2021
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Page 8
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Notes to the financial statements (continued) Year ended 31 March 2021
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2020: Nil).
5. Profit before taxation
Profit before taxation is stated after charging/(crediting):
| Profit before taxation is stated after charging/(crediting): | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Depreciation of tangible assets | 18,588 | 7,538 |
Page 9
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Notes to the financial statements (continued) Year ended 31 March 2021
| 6. Tangible assets Freehold property Fixtures, fittings and equipment £ £ Cost At 1 April 2020 10,363 24,972 Additions - 37,933 At 31 March 2021 10,363 62,905 Depreciation At 1 April 2020 8,759 4,994 Charge for the year 1,604 12,581 At 31 March 2021 10,363 17,575 Carrying amount At 31 March 2021 - 45,330 At 31 March 2020 1,604 19,978 7. Debtors Other debtors 8. Creditors: amounts falling due within one year Other creditors 9. Creditors: amounts falling due after more than one year Bank loans and overdrafts |
Motor vehicles £ 9,725 16,548 26,273 8,631 4,404 13,035 13,238 1,094 2021 £ 1 2021 £ 15,817 2021 £ 16,000 |
Total £ 45,060 54,481 |
|---|---|---|
| 99,541 | ||
| 22,384 18,589 |
||
| 40,973 | ||
| 58,568 | ||
| 22,676 | ||
| 2020 £ 1 |
||
| 2020 £ 3,350 |
||
| 2020 £ - |
Page 10
Company registration number: 06851649
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED Trading as LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Unaudited financial statements
31 March 2021
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Contents
| Page | |
|---|---|
| Directors and other information | 1 |
| Directors report | 2 |
| Statement of comprehensive income | 3 |
| Statement of financial position | 4 - 5 |
| Statement of changes in equity | 6 |
| Notes to the financial statements | 7 - 10 |
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Directors and other information
Directors
Mr Andrew Mowle Mrs Gillian Smith
Company number 06851649
Business address
Tendering Education Centre Jaywick Lane Clacton On Sea Essex CO16 8BE
Page 1
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Directors report Year ended 31 March 2021
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2021.
Directors
The directors who served the company during the year were as follows:
Mr Andrew Mowle Mrs Gillian Smith
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on .............................. and signed on behalf of the board by:
Mr Andrew Mowle Director
Mrs Gillian Smith Director
Page 2
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Statement of comprehensive income Year ended 31 March 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Turnover | 520,866 | 400,966 | |||
| Cost of sales | - | - | |||
| Administrative expenses | (444,687 | ) | (398,516 | ) | |
| Operating profit | 76,179 | 2,450 | |||
| Other interest receivable and similar income | 28 | 40 | |||
| Profit before taxation | 5 | 76,207 | 2,490 | ||
| Tax on profit | - | - | |||
| Profit for the financial year and total | |||||
| comprehensive income | 76,207 | 2,490 |
All the activities of the company are from continuing operations.
The notes on pages 7 to 10 form part of these financial statements.
Page 3
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Statement of financial position 31 March 2021
| Note Fixed assets Tangible assets 6 Current assets Debtors 7 Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 9 Net assets Capital and reserves Called up share capital Profit and loss account Shareholders funds |
2021 £ £ 58,568 58,568 1 430,517 430,518 ) (15,817 414,701 473,269 ) (16,000 457,269 1 457,268 457,269 |
2020 £ £ 22,676 22,676 1 361,735 361,736 ) (3,350 358,386 381,062 - 381,062 1 381,061 381,062 |
2020 £ £ 22,676 22,676 1 361,735 361,736 ) (3,350 358,386 381,062 - 381,062 1 381,061 381,062 |
|---|---|---|---|
| 381,062 - |
|||
| 381,062 | |||
| 1 381,061 |
|||
| 381,062 |
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The notes on pages 7 to 10 form part of these financial statements.
Page 4
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Statement of financial position (continued) 31 March 2021
These financial statements were approved by the board of directors and authorised for issue on 10 August 2021, and are signed on behalf of the board by:
Mr Andrew Mowle Mrs Gillian Smith Director Director
Company registration number: 06851649
The notes on pages 7 to 10 form part of these financial statements.
Page 5
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Statement of changes in equity Year ended 31 March 2021
| Called up share capital Profit and loss account £ £ At 1 April 2019 1 378,571 Profit for the year 2,490 Total comprehensive income for the year - 2,490 At 31 March 2020 and 1 April 2020 1 381,061 Profit for the year 76,207 Total comprehensive income for the year - 76,207 At 31 March 2021 1 457,268 |
Total £ 378,572 2,490 |
|---|---|
| 2,490 | |
| 381,062 76,207 |
|
| 76,207 | |
| 457,269 |
Page 6
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Notes to the financial statements Year ended 31 March 2021
1. General information
The company is a private company limited by shares, registered in . The address of the registered office is .
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Page 7
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Notes to the financial statements (continued) Year ended 31 March 2021
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Page 8
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Notes to the financial statements (continued) Year ended 31 March 2021
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2020: Nil).
5. Profit before taxation
Profit before taxation is stated after charging/(crediting):
| Profit before taxation is stated after charging/(crediting): | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Depreciation of tangible assets | 18,588 | 7,538 |
Page 9
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED
Notes to the financial statements (continued) Year ended 31 March 2021
| 6. Tangible assets Freehold property Fixtures, fittings and equipment £ £ Cost At 1 April 2020 10,363 24,972 Additions - 37,933 At 31 March 2021 10,363 62,905 Depreciation At 1 April 2020 8,759 4,994 Charge for the year 1,604 12,581 At 31 March 2021 10,363 17,575 Carrying amount At 31 March 2021 - 45,330 At 31 March 2020 1,604 19,978 7. Debtors Other debtors 8. Creditors: amounts falling due within one year Other creditors 9. Creditors: amounts falling due after more than one year Bank loans and overdrafts |
Motor vehicles £ 9,725 16,548 26,273 8,631 4,404 13,035 13,238 1,094 2021 £ 1 2021 £ 15,817 2021 £ 16,000 |
Total £ 45,060 54,481 |
|---|---|---|
| 99,541 | ||
| 22,384 18,589 |
||
| 40,973 | ||
| 58,568 | ||
| 22,676 | ||
| 2020 £ 1 |
||
| 2020 £ 3,350 |
||
| 2020 £ - |
Page 10