MILLERS DENE DAY CARE CIC A PRIVATE LIMITED COMPANY
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
Company Registration Number 07233877
MILLERS DENE DAY CARE CIC
A PRIVATE LIMITED COMPANY
ANNUAL REPORT AND FINANCIAL STATEMENTS
For the year ended 31 March 2021
| Contents | Page | |
|---|---|---|
| Directors' report | 1 to | 2 |
| Profit and loss account | 3 | |
| Balance sheet | 4 | |
| Notes to the financial statements | 5 to | 8 |
MILLERS DENE DAY CARE CIC
A PRIVATE LIMITED COMPANY
DIRECTORS' REPORT
For the year ended 31 March 2021
The directors present their annual report and unaudited financial statements of Millers Dene Day Care CIC for the year ended 31 March 2021, which are set out on pages 3 to 8
Status
A private company limited by guarantee without share capital, Community Interest Company (CIC). , first registered on 23 April 2010, number 07233877.
Registered Office
Walkergate Early Years Centre Shields Road Newcastle upon Tyne Tyne & Wear NE6 4XW
Directors
Toni Blench Bernadette Matthews Samantha Sampson Hollie Jane Cox
Accountants
Connected Voice Business Services Ltd Higham House Higham Place Newcastle upon Tyne NE1 8AF
1
MILLERS DENE DAY CARE CIC
A PRIVATE LIMITED COMPANY
DIRECTORS' REPORT
For the year ended 31 March 2021
Principle Activities
The principal activity of the company is the provision of pre-school education for children aged between two and four years old.
Directors
The following directors have held office during the year and up to the date of signature of the financial statements, are as follows:
Tone Blench Bernadette Matthews Samantha Sampson Hollie Jane Cox
Statement of Directors' Responsibilities
The directors are responsible for preparing the Director's Report and the financial statements in accordance with applicable law 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 these financial statements, the directors are required to :
-
●Select suitable accounting policies and then apply them consistently.
-
●Make judgements 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.
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 on
Mrs Hollie Jane Cox Director
11/11/2021
and signed by its order.
2
MILLERS DENE DAY CARE CIC
A Private Limited Company
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING THE INCOME & EXPENDITURE ACCOUNT)
For the year ended 31 March 2021
| Operating Profit / (loss) 4 Profit / (loss) on ordinary activities before taxation Tax on profit on ordinary activities Profit / (loss) for the financial year Turnover Cost of sales Notes Administrative expenses Gross profit Interest receivable and other income |
Total 2021 £ 320,793 ( 184,329 ) 136,464 ( 136,526 ) ( 62 ) 62 - - - |
Total 2020 £ |
|---|---|---|
| 353,352 ( 228,883 ) |
||
| 124,469 ( 125,026 ) |
||
| ( 557 ) | ||
| 557 | ||
| - - |
||
| - |
3
MILLERS DENE DAY CARE CIC
A Private Limited Company
Company Registration Number 07233877
BALANCE SHEET
As at 31 March 2021
| Notes Current assets Debtors 5 Cash at bank and in hand Total current assets Creditors: amounts falling due within one year 6 Net current assets Total assets less current liabilities Total net assets or liabilities Funds Profit and loss 8 |
£ 9,363 13,407 22,770 ( 22,770 ) |
Total 2021 £ - - - - - |
£ 3,620 18,098 21,718 ( 21,718 ) |
Total 2020 £ |
|---|---|---|---|---|
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - |
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
The members have not required the company to obtain an audit of its financial statements for the period 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.
These financial statements were approved by the Board on:
These financial statements were approved by the Board on: 11/11/2021 and are signed on its behalf by: Samantha Sampson Director
4
MILLERS DENE DAY CARE CIC
A Private Limited Company
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2021
1 Accounting Policies
Company information
Millers Dene Day Care CIC is a private company limited by guarantee without share capital, Community Interest Company (CIC). The registered office is Walkergate Early Years Centre, Shields Road, Newcastle Upon Tyne, Tyne and Wear, NE6 4XW.
1.1 Accounting convention
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared on historical cost convention. The principle accounting policies adopted are set out below.
1.2 Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Directors have revised their forecasts to take into account the impact on the business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts
1.3 Turnover
Turnover represents amounts receivable for goods and services gross of VAT. Revenue is recognised in the accounts when invoiced unless it relates to future accounting periods, in which case it is deferred and included in creditors.
1.4 Work in progress
Work in progress is recognised based on the time allocated to a job but not yet invoiced.
1.5 Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.
1.6 Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and gross of VAT.
Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on the completion of the work carried out); 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.
5
MILLERS DENE DAY CARE CIC
A Private Limited Company
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2021
1.7 Exemption from preparing a cash flow statement
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Connected Voice which can be obtained from Charity Commission. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
-
Disclosures in respect of each class of share capital have not been presented.
-
No cash flow statement has been presented for the company.
-
Disclosures in respect of financial instruments have not been presented.
-
Disclosures in respect of share-based payments have not been presented.
-
No disclosure has been given for the aggregate remuneration of key management personnel.
1.8 Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and section 12 ‘Other Financial Issues’ of FRS102 to all of its financial instruments.
Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
6
MILLERS DENE DAY CARE CIC
A Private Limited Company
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2021
2 Statutory information
Millers Dene Day Care CICis a private company limited by guarantee without share capital, Community Interest Company (CIC), domiciled in England and Wales, company registration number 07233877. The registered office is Walkergate Early Years Centre, Shields Road, Newcastle upon Tyne, NE6 4XW.
| 3 Directors Directors salaries Directors National Insurance Directors Pension |
2021 £ 49,956 4,467 1,118 55,541 |
2020 £ |
|---|---|---|
| 49,043 4,436 1,113 |
||
| 54,592 |
4 Taxation on ordinary activities
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is the same as the standard rate of corporation tax in the UK of 19%.
| Profit / (loss) on ordinary activities before taxation Profit / (loss) on ordinary activities by rate of tax Debtors and prepayments (receivable within 1 year) Trade debtors Other debtors |
2021 £ - - 2021 £ 1,188 8,175 9,363 |
2020 £ |
|---|---|---|
| - | ||
| - | ||
| 2020 £ |
||
| 3,620 - |
||
| 3,620 |
5 Debtors and prepayments (receivable within 1 year)
6 Creditors and accruals (payable within 1 year)
| Trade creditors Other creditors Accruals Social security and pension |
2021 £ 10,820 10,398 1,548 4 22,770 |
2020 £ |
|---|---|---|
| 8,414 10,813 1,548 943 |
||
| 21,718 |
7 Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
7
MILLERS DENE DAY CARE CIC
A Private Limited Company
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2021
8 Profit and loss account
| Profit and loss account | ||
|---|---|---|
| Balance brought forward Profit / (loss) for the year Balance carried forward |
2021 £ - - - |
2020 £ |
| - - |
||
| - |
9 Related party transactions and control relationships
The charitable assets of Millers Dene Day Care are protected by way of a charitable trust managed by Millers Dene Day Care CIC as a charitable trustee. Millers Dene Day Care Trust received a charge from Millers Dene Day Care CIC of £47,702 for the year relating to a contribution to childrens activities/ resources, fixed assets and an apportionment of staff salaries..
10 Employee numbers
The average number of persons employed by the company during the year amounted to 19 (2020: 19).
8
MILLERS DENE DAY CARE CIC
A Private Limited Company
DETAILED PROFIT AND LOSS
For the year ended 31 March 2021
| Income Business interuption funding HMRC Job Retention Scheme Insurance claims Deprivation funding / pupil premium Expenditure Cost of Sales Gross profit Administrative Operating Surplus Balance on ordinary actives before taxation Tax on balance on ordinary activities Balance on ordinary actives after taxation Balance for the financial year Accountancy Professional fees Office equipment Maintenance Premises expenses Cleaning and hygiene Caretaking services Security and insurance Bank charges and interest Management and admin salaries Rent rates Heat, light and power Travelling Print, stationery and telephone Community event / play-scheme costs Other salary costs 2 Year Funding 3 Year Funding Special Educational Needs Income from raffles / fundraising Nursery meal preparation Parent fees Other income Bank interest Project salaries Other expenses Publications and subscriptions Children's activity / resources costs |
2021 £ 57,101 79,664 6,689 212 83,693 25,000 56,997 6,521 852 4,064 62 320,855 174,637 935 2,352 56 - 31 6,318 184,329 136,526 80,262 793 3,009 - 11,403 1,281 448 6,455 8,358 12,510 3,605 336 1,548 6,518 136,526 - - - - - |
2020 £ |
|---|---|---|
| 80,535 35,158 5,890 1,324 223,981 - - - 2,748 3,716 557 |
||
| 353,909 195,721 14,730 2,612 140 - 259 15,421 |
||
| 228,883 | ||
| 125,026 | ||
| 79,681 2,101 5,813 109 8,639 206 887 4,484 4,163 9,817 5,033 500 1,470 2,123 |
||
| 125,026 | ||
| - | ||
| - - |
||
| - | ||
| - |
This page does not form part of the statutory financial statements.
9
MILLERS DENE DAY CARE CIC
A PRIVATE LIMITED COMPANY
ACCOUNTANTS' REPORT
For the year ended 31 March 2021
As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2021 set out on pages 3 to 10 and you consider that the company is exempt from audit.
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
Connected Voice Buiness Services LTD Higham House Higham Place Newcastle upon Tyne NE1 8AF 11/11/2021
This page does not form part of the statutory financial statements.