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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2019 |
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EDINBURGH DAY NURSERIES LTD. |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2019 |
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FOR |
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EDINBURGH DAY NURSERIES LTD. |
EDINBURGH DAY NURSERIES LTD. (REGISTERED NUMBER: SC522766) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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EDINBURGH DAY NURSERIES LTD. |
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COMPANY INFORMATION |
for the Year Ended 31 March 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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EDINBURGH DAY NURSERIES LTD. (REGISTERED NUMBER: SC522766) |
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BALANCE SHEET |
31 March 2019 |
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31.3.19 | 31.3.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at
the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
EDINBURGH DAY NURSERIES LTD. (REGISTERED NUMBER: SC522766) |
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BALANCE SHEET - continued |
31 March 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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EDINBURGH DAY NURSERIES LTD. (REGISTERED NUMBER: SC522766) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2019 |
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1. | STATUTORY INFORMATION |
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Edinburgh Day Nurseries Ltd. is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about Edinburgh Day Nurseries Ltd. as an individual |
company and do not contain consolidated financial information as the parent of a group. The company |
is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare |
consolidated financial statements. |
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Investments in subsidiaries |
Investment in unlisted subsidiary undertakings is recognised at cost less impairment, if any. |
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Basic financial instruments |
Short term debtors are measured at transaction price less any impairment losses for bad or doubtful |
debts. Loans and other financial assets are initially recognised at transaction price including any |
transaction costs and subsequently measured at amortised cost determined using the effective interest |
method, less any impairment losses for bad and doubtful debts. |
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Short term creditors are measured at transaction price. Loans and other financial liabilities are initially |
recognised at transaction price net of any transaction costs and subsequently measured at amortised |
cost determined using the effective interest method. |
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Provisions |
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the |
reporting date as a result of a past event, it is probable that economic benefit will be transferred to |
settle the obligation and the amount of the obligation can be estimated reliably. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
EDINBURGH DAY NURSERIES LTD. (REGISTERED NUMBER: SC522766) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2019 |
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2018 |
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Additions |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Amounts owed by group undertakings |
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Other debtors |
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The inter company loan balance is being repaid by the subsidiary companies on a monthly basis of |
£5,782 (2018 - £4,136) together with additional repayments as circumstances permit in order to meet |
the holding company's bank loan repayment schedule. There are no formal terms for repayment of the |
inter company loans which bear interest at 3% over base rate. Although there is no intention to seek |
full repayment in the short term, the loan balance is treated as a current asset. |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Bank loans and overdrafts |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 312,376 | - |
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The bank loan, renewed since 2018, is repayable by monthly payments of £5,782 (2018 - £4,136) over |
the remaining term (at 31 March 2019) of 9 years and 10 months, the loan bearing interest at 2% over |
base rate. |
EDINBURGH DAY NURSERIES LTD. (REGISTERED NUMBER: SC522766) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2019 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.19 | 31.3.18 |
£ | £ |
Bank loans |
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The company's bankers hold a floating charge over the net assets of the company and ultimately the |
group.The net group indebtedness to the company's bankers at the year end date was £556,273 (2018 |
- £346,448). |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.19 | 31.3.18 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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10. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £58,000 (2018 - £50,000) were paid to the directors . |
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Included within debtors are loans to the subsidiary companies, the balance at the year end being |
£302,018 (2018 - £309,633). The loan balance is subject to interest at 3% over bank base rate and is |
being repaid on a monthly basis with repayments of £5,782 (2018 - £4,136) together with additional |
repayments as circumstances permit. There are no formal terms for repayment and the balance is |
treated as a current asset. |
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Included within creditors is a loan from the directors, the balance at the year end being £219,026 (2018 |
- £281,654). The loan balance is interest free and without formal terms for repayment. Although the |
directors have no intention to seek repayment in the short term, the loan balance is treated as a |
current liability. |