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Registration number: 05716314

Little Pip's Nursery Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Little Pip's Nursery Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 7

 

Little Pip's Nursery Limited

(Registration number: 05716314)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

16,000

24,000

Tangible assets

5

1,556,008

1,524,091

 

1,572,008

1,548,091

Current assets

 

Debtors

6

754,258

4,137

Cash at bank and in hand

 

16,835

485,975

 

771,093

490,112

Creditors: Amounts falling due within one year

7

(108,652)

(110,004)

Net current assets

 

662,441

380,108

Total assets less current liabilities

 

2,234,449

1,928,199

Provisions for liabilities

(22,054)

(10,264)

Net assets

 

2,212,395

1,917,935

Capital and reserves

 

Called up share capital

101

101

Retained earnings

2,212,294

1,917,834

Shareholders' funds

 

2,212,395

1,917,935

 

Little Pip's Nursery Limited

(Registration number: 05716314)
Balance Sheet as at 31 March 2023

For the financial year ending 31 March 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 October 2023 and signed on its behalf by:
 

.........................................
L A Norman
Company secretary and director

 

Little Pip's Nursery Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of nursery and related services in the ordinary course of the company’s activities.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Little Pip's Nursery Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

Asset class

Depreciation method and rate

Fixtures and fittings

10% reducing balance basis

Plant and machinery

25% reducing balance basis

Land and buildings

not depreciated

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Grants

Government grants are accounted for as revenue based grants under the accrual model in the period in which they are receivable.

 

Little Pip's Nursery Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 42 (2022 - 40).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

80,100

80,100

At 31 March 2023

80,100

80,100

Amortisation

At 1 April 2022

64,100

64,100

At 31 March 2023

64,100

64,100

Carrying amount

At 31 March 2023

16,000

16,000

At 31 March 2022

24,000

24,000

 

Little Pip's Nursery Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2022

1,425,153

136,363

30,688

1,592,204

Additions

-

38,997

2,943

41,940

At 31 March 2023

1,425,153

175,360

33,631

1,634,144

Depreciation

At 1 April 2022

-

54,490

13,623

68,113

Charge for the year

-

8,207

1,816

10,023

At 31 March 2023

-

62,697

15,439

78,136

Carrying amount

At 31 March 2023

1,425,153

112,663

18,192

1,556,008

At 31 March 2022

1,425,153

81,873

17,065

1,524,091

Included within the net book value of land and buildings above is £1,425,153 (2022 - £1,425,153) in respect of freehold land and buildings.
 

 

Little Pip's Nursery Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

6

Debtors

2023
£

2022
£

Prepayments

4,258

4,137

Other debtors

750,000

-

754,258

4,137

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,106

462

Taxation and social security

101,960

99,384

Other creditors

5,586

10,158

108,652

110,004

8

Related party transactions

Summary of transactions with other related parties

Little Pip’s Nursery Limited have an inter-company loan with JM & LA Property Ltd. Both companies share Mrs L Norman as a Director. At the balance sheet date the amount owed to Little Pips Nursery Limited was £750,000.