Company registration number 11243496 (England and Wales)
TODDLERS NURSERY SCHOOL (GROBY) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
TODDLERS NURSERY SCHOOL (GROBY) LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
TODDLERS NURSERY SCHOOL (GROBY) LTD
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,445
1,358
Current assets
Stocks
5
2,500
2,645
Debtors
6
3,168
33,553
Cash at bank and in hand
537,740
635,284
543,408
671,482
Creditors: amounts falling due within one year
7
(80,828)
(102,797)
Net current assets
462,580
568,685
Total assets less current liabilities
464,025
570,043
Creditors: amounts falling due after more than one year
8
(3,484)
(2,205)
Provisions for liabilities
(274)
(258)
Net assets
460,267
567,580
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
460,167
567,480
Total equity
460,267
567,580

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

TODDLERS NURSERY SCHOOL (GROBY) LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 September 2023 and are signed on its behalf by:
Ms D Kerr
Director
Company registration number 11243496 (England and Wales)
TODDLERS NURSERY SCHOOL (GROBY) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Toddlers Nursery School (Groby) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 3 Pendleton Close, Queniborough, Leicestershire, LE7 3AB.

1.1
Accounting convention

These financial statements have been prepared in accordance with 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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
33.33% Straight Line
Fixtures and fittings
25% Straight Line
Computers
25% NBV

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

TODDLERS NURSERY SCHOOL (GROBY) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.4
Impairment of fixed assets

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each reporting date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents 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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

TODDLERS NURSERY SCHOOL (GROBY) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
1.7
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value which is normally the transaction price excluding transaction costs. Such assets are subsequently measured at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Derivative financial instruments are initially measured at fair value at the date on which a derivative contract is entered into and are subsequently measured at fair value through profit or loss.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

TODDLERS NURSERY SCHOOL (GROBY) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Company contributions to defined contribution plans for the benefit of employee's are expensed as they become payable.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
27
32
TODDLERS NURSERY SCHOOL (GROBY) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
4
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 April 2022
9,546
3,457
989
13,992
Additions
-
0
748
332
1,080
At 31 March 2023
9,546
4,205
1,321
15,072
Depreciation and impairment
At 1 April 2022
9,546
2,841
247
12,634
Depreciation charged in the year
-
0
724
269
993
At 31 March 2023
9,546
3,565
516
13,627
Carrying amount
At 31 March 2023
-
0
640
805
1,445
At 31 March 2022
-
0
616
742
1,358
5
Stocks
2023
2022
£
£
Stocks
2,500
2,645
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,055
31,744
Corporation tax recoverable
11
-
0
Other debtors
2,102
1,809
3,168
33,553
TODDLERS NURSERY SCHOOL (GROBY) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,184
2,372
Corporation tax
-
0
77,475
Other taxation and social security
2,452
3,400
Other creditors
76,192
19,550
80,828
102,797
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
3,484
2,205
2023-03-31 2022-04-01 false 29 September 2023 CCH Software CCH Accounts Production 2023.200 No description of principal activity Mr B Durkin Ms D Kerr 11243496 2022-04-01 2023-03-31 11243496 2023-03-31 11243496 2022-03-31 11243496 core:LandBuildings core:LeasedAssetsHeldAsLessee 2023-03-31 11243496 core:FurnitureFittings 2023-03-31 11243496 core:ComputerEquipment 2023-03-31 11243496 core:LandBuildings core:LeasedAssetsHeldAsLessee 2022-03-31 11243496 core:FurnitureFittings 2022-03-31 11243496 core:ComputerEquipment 2022-03-31 11243496 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11243496 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 11243496 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 11243496 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 11243496 core:CurrentFinancialInstruments 2023-03-31 11243496 core:CurrentFinancialInstruments 2022-03-31 11243496 core:ShareCapital 2023-03-31 11243496 core:ShareCapital 2022-03-31 11243496 core:RetainedEarningsAccumulatedLosses 2023-03-31 11243496 core:RetainedEarningsAccumulatedLosses 2022-03-31 11243496 bus:Director2 2022-04-01 2023-03-31 11243496 core:LandBuildings core:LongLeaseholdAssets 2022-04-01 2023-03-31 11243496 core:FurnitureFittings 2022-04-01 2023-03-31 11243496 core:ComputerEquipment 2022-04-01 2023-03-31 11243496 2021-04-01 2022-03-31 11243496 core:LandBuildings core:LeasedAssetsHeldAsLessee 2022-03-31 11243496 core:FurnitureFittings 2022-03-31 11243496 core:ComputerEquipment 2022-03-31 11243496 2022-03-31 11243496 core:LandBuildings core:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 11243496 core:WithinOneYear 2023-03-31 11243496 core:WithinOneYear 2022-03-31 11243496 core:Non-currentFinancialInstruments 2023-03-31 11243496 core:Non-currentFinancialInstruments 2022-03-31 11243496 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11243496 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 11243496 bus:FRS102 2022-04-01 2023-03-31 11243496 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11243496 bus:Director1 2022-04-01 2023-03-31 11243496 bus:FullAccounts 2022-04-01 2023-03-31 xbrli:pure xbrli:shares iso4217:GBP