Registered number: 07015915
BUSY BEES PRE-SCHOOL (SOUTH OXHEY) LTD DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
T Casillas & Co
Chartered Accountants
P O Box 761 Pinner Middlesex HA5 9SB
Busy Bees Pre-School (South Oxhey) Ltd Directors' Report and Unaudited Financial Statements For The Year Ended 31 December 2020
Contents
| Page | |
|---|---|
| Company Information | 1 |
| Directors' Report | 2 |
| Accountant's Report | 3 |
| Profit and Loss Account | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 |
| The following pages do not form part of the statutory accounts: | |
| Trading Profit and Loss Account | 7 |
Busy Bees Pre-School (South Oxhey) Ltd Company Information For The Year Ended 31 December 2020
| Directors | Ms Margaret Flaherty |
|---|---|
| Ms Katie Maj | |
| Ms Rachel Allchin | |
| Mr Paul Tate | |
| Company Number | 07015915 |
| Registered Office | 45 Oakdale Road |
| Watford | |
| WD19 6JX | |
| Accountants | T Casillas & Co |
| Chartered Accountants | |
| P O Box 761 | |
| Pinner | |
| Middlesex | |
| HA5 9SB |
Page 1
Busy Bees Pre-School (South Oxhey) Ltd Company No. 07015915 Directors' Report For The Year Ended 31 December 2020
The directors present their report and the financial statements for the year ended 31 December 2020.
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and accounting estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Directors
The directors who held office during the year were as follows: Ms Margaret Flaherty Ms Katie Maj Ms Rachel Allchin Mr Paul Tate
Small Company Rules
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.
On behalf of the board
Ms Margaret Flaherty
Director
26/08/2021
Page 2
Busy Bees Pre-School (South Oxhey) Ltd Accountant's Report For The Year Ended 31 December 2020
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of Busy Bees Pre-School (South Oxhey) Ltd For The Year Ended 31 December 2020
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Busy Bees Pre-School (South Oxhey) Ltd For The Year Ended 31 December 2020 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-andguidance.
This report is made solely to the directors of Busy Bees Pre-School (South Oxhey) Ltd, as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Busy Bees Pre-School (South Oxhey) Ltd and state those matters that we have agreed to state to the directors of Busy Bees Pre-School (South Oxhey) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Busy Bees Pre-School (South Oxhey) Ltd and its directors, as a body, for our work or for this report.
It is your duty to ensure that Busy Bees Pre-School (South Oxhey) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Busy Bees PreSchool (South Oxhey) Ltd. You consider that Busy Bees Pre-School (South Oxhey) Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Busy Bees Pre-School (South Oxhey) Ltd. 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 financial statements.
26/08/2021
T Casillas & Co Chartered Accountants
P O Box 761 Pinner Middlesex HA5 9SB
Page 3
Busy Bees Pre-School (South Oxhey) Ltd Profit and Loss Account For The Year Ended 31 December 2020
| Notes TURNOVER GROSS PROFIT Distribution costs OPERATING LOSS AND LOSS FOR THE FINANCIAL YEAR |
2020 £ 72,414 72,414 (80,158) (7,744) |
2019 £ 95,251 |
|---|---|---|
| 95,251 (100,311) |
||
| (5,060) |
The notes on page 6 form part of these financial statements.
Page 4
Busy Bees Pre-School (South Oxhey) Ltd Balance Sheet As at 31 December 2020
| Notes CURRENT ASSETS Cash at bank and in hand NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS Profit and Loss Account SHAREHOLDERS' FUNDS |
2020 £ £ 6,457 6,457 6,457 6,457 6,457 6,457 6,457 |
2020 £ £ 6,457 6,457 6,457 6,457 6,457 6,457 6,457 |
2019 £ £ 14,201 14,201 14,201 14,201 14,201 14,201 14,201 |
2019 £ £ 14,201 14,201 14,201 14,201 14,201 14,201 14,201 |
|---|---|---|---|---|
| 6,457 | 14,201 | |||
| 6,457 | 14,201 | |||
| 6,457 | 14,201 | |||
| 6,457 | 14,201 | |||
| 6,457 | 14,201 |
For the year ending 31 December 2020 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 in accordance with section 476 of the Companies Act 2006.
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Ms Margaret Flaherty
Director
26/08/2021
The notes on page 6 form part of these financial statements.
Page 5
Busy Bees Pre-School (South Oxhey) Ltd Notes to the Financial Statements For The Year Ended 31 December 2020
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 4 (2019: 5)
3. General Information
Busy Bees Pre-School (South Oxhey) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07015915. The registered office is 45 Oakdale Road, Watford, WD19 6JX. The company is a registered charity number 1132737.
Page 6
Busy Bees Pre-School (South Oxhey) Ltd Trading Profit and Loss Account For The Year Ended 31 December 2020
| TURNOVER Fees GROSS PROFIT Distribution Costs Wages Staff training and uniforms Legal & professional costs Insurance costs Office expenses Premises expenses Supplies OPERATING LOSS AND LOSS FOR THE FINANCIAL YEAR |
2020 £ £ 72,414 72,414 54,014 85 3,313 1,046 1,442 11,186 9,072 (80,158) (7,744) |
2020 £ £ 72,414 72,414 54,014 85 3,313 1,046 1,442 11,186 9,072 (80,158) (7,744) |
2019 £ £ 95,251 95,251 76,750 109 3,619 1,035 3,208 5,357 10,233 (100,311) (5,060) |
2019 £ £ 95,251 95,251 76,750 109 3,619 1,035 3,208 5,357 10,233 (100,311) (5,060) |
|---|---|---|---|---|
| (7,744) | (5,060) |
Page 7