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REGISTERED NUMBER: 08382129 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

PATCHWORK NURSERY LIMITED

PATCHWORK NURSERY LIMITED (REGISTERED NUMBER: 08382129)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PATCHWORK NURSERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: Mrs K G Hopps





REGISTERED OFFICE: 36 Belmont Park Avenue
Maidenhead
Berkshire
SL6 6JS





REGISTERED NUMBER: 08382129 (England and Wales)

PATCHWORK NURSERY LIMITED (REGISTERED NUMBER: 08382129)

BALANCE SHEET
31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 68,281 65,280
68,281 65,280

CURRENT ASSETS
Debtors 6 60,995 41,386
Cash at bank 1,112,203 1,130,667
1,173,198 1,172,053
CREDITORS
Amounts falling due within one year 7 164,780 123,756
NET CURRENT ASSETS 1,008,418 1,048,297
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,076,699

1,113,577

PROVISIONS FOR LIABILITIES 15,335 5,746
NET ASSETS 1,061,364 1,107,831

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,061,264 1,107,731
SHAREHOLDERS' FUNDS 1,061,364 1,107,831

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

PATCHWORK NURSERY LIMITED (REGISTERED NUMBER: 08382129)

BALANCE SHEET - continued
31 DECEMBER 2022


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2023 and were signed by:





Mrs K G Hopps - Director


PATCHWORK NURSERY LIMITED (REGISTERED NUMBER: 08382129)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Patchwork Nursery Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office are as below:

Registered number: 08382129

Registered office: 36 Belmont Park Avenue
Maidenhead
Berkshire
SL6 6JS

The presentation currency of the financial statements is the Pound Sterling (£).

The principal activity of the company is that of the provision of Montessori nursery school education.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue (described as turnover) represents invoiced sales to external customers excluding VAT. Revenue is reduced for refunds and other similar allowances. Revenue is recognised at the point of sale when services are rendered.

Goodwill
Goodwill arising on an acquisition of a trade is the difference between the fair value of consideration paid and the fair value of the assets and liabilities acquired. Positive goodwill is capitalised and amortised through the profit and loss account over the director's estimate of its useful economic life which had been estimated at 5 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on reducing balance and Straight line over 10 years
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance


PATCHWORK NURSERY LIMITED (REGISTERED NUMBER: 08382129)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risk and reward of ownership of the leased asset to the company. All other leases are classified as operating leases.

Assets held under finance leases are recognised initially at the fair value of the leased asset st the inception of the lease. The corresponding liability to the lessor is recognised within finance lease obligations. Lease payments are apportioned between finance charges and reduction of the lease obligations using the effective interest method so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are charged to the profit or loss.

Assets held under finance leases and hire purchase contracts are included in the tangible assets and depreciated and assessed for impairment losses in accordance with the stated policy for tangible assets.

Rental payable under operating leases are charged to the profit or loss in a straight-line basis over the lease term. The aggregate benefit of lease incentives are recognised as a reduction to the expense and credited to profit or loss on a straight line basis over the lease term.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

PATCHWORK NURSERY LIMITED (REGISTERED NUMBER: 08382129)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

Short term debtors are measured at transaction price, less any impairment. Short term creditors are measured at transaction price.

Going concern
After reviewing the company's forecasts and projections, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2021 - 40 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 December 2022 1,280,000
AMORTISATION
At 1 January 2022
and 31 December 2022 1,280,000
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 -

PATCHWORK NURSERY LIMITED (REGISTERED NUMBER: 08382129)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

5. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST
At 1 January 2022 88,610 19,887 57,361
Additions - - 17,231
Disposals - - (5,905 )
At 31 December 2022 88,610 19,887 68,687
DEPRECIATION
At 1 January 2022 83,412 12,183 44,338
Charge for year 5,198 770 4,411
Eliminated on disposal - - (4,537 )
At 31 December 2022 88,610 12,953 44,212
NET BOOK VALUE
At 31 December 2022 - 6,934 24,475
At 31 December 2021 5,198 7,704 13,023

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2022 100,328 1,070 267,256
Additions 4,661 - 21,892
Disposals (1,521 ) - (7,426 )
At 31 December 2022 103,468 1,070 281,722
DEPRECIATION
At 1 January 2022 61,053 990 201,976
Charge for year 6,657 20 17,056
Eliminated on disposal (1,054 ) - (5,591 )
At 31 December 2022 66,656 1,010 213,441
NET BOOK VALUE
At 31 December 2022 36,812 60 68,281
At 31 December 2021 39,275 80 65,280

PATCHWORK NURSERY LIMITED (REGISTERED NUMBER: 08382129)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 49,056 28,128
Other debtors 11,939 13,258
60,995 41,386

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 29,318 18,687
Taxation and social security 83,509 81,035
Other creditors 51,953 24,034
164,780 123,756

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.22 31.12.21
£    £   
Within one year 33,000 87,500
Between one and five years 150,000 150,000
In more than five years 112,500 142,500
295,500 380,000