Company Registration No. SC304572 (Scotland)
THE SECRET GARDEN OUTDOOR NURSERY
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2015
THE SECRET GARDEN OUTDOOR NURSERY
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
THE SECRET GARDEN OUTDOOR NURSERY
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2015
30 June 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
4,206
4,815
Current assets
Stocks
716
-
Debtors
5,074
1,955
Cash at bank and in hand
28,122
43,863
33,478
45,818
Creditors: amounts falling due within one year
(5,076)
(7,354)
Net current assets
28,836
38,464
Total assets less current liabilities
33,042
43,279
Provisions for liabilities
(841)
(963)
Accruals and deferred income
(869)
(1,086)
31,332
41,230
Capital and reserves
Profit and loss account
31,332
41,230
Shareholders' funds
31,332
41,230
For the financial year ended 30 June 2015 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 23 March 2016
Catherine Bache
Director
Company Registration No. SC304572
THE SECRET GARDEN OUTDOOR NURSERY
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
on straight line at 25%
Fixtures, fittings & equipment
on reducing balance at 20%
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Revenue recognition
Turnover represents revenue earned under contract to provide nursery services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses.
1.8
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.
1.9
Grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
THE SECRET GARDEN OUTDOOR NURSERY
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 July 2014
12,049
Additions
730
At 30 June 2015
12,779
Depreciation
At 1 July 2014
7,234
Charge for the year
1,339
At 30 June 2015
8,573
Net book value
At 30 June 2015
4,206
At 30 June 2014
4,815
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