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Registration number: 03597667

Solent Childrens Centre Limited

trading as The Solent Children's Centre Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Solent Childrens Centre Limited

trading as The Solent Children's Centre Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Solent Childrens Centre Limited

trading as The Solent Children's Centre Limited

(Registration number: 03597667)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

350,194

350,000

Current assets

 

Cash at bank and in hand

 

13,044

43,080

Creditors: Amounts falling due within one year

6

(60,039)

(48,987)

Net current liabilities

 

(46,995)

(5,907)

Total assets less current liabilities

 

303,199

344,093

Creditors: Amounts falling due after more than one year

6

(63,811)

(63,811)

Net assets

 

239,388

280,282

Capital and reserves

 

Called up share capital

7

400

400

Retained earnings

238,988

279,882

Shareholders' funds

 

239,388

280,282

For the financial year ending 31 July 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 1 November 2023 and signed on its behalf by:
 

.........................................
Ms G Benson
Company secretary and director

 

Solent Childrens Centre Limited

trading as The Solent Children's Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
30 St Giles'
Oxford
OX1 3LE

The principal place of business is:
31 Ramley Road
Pennington
Lymington
Hampshire
SO41 8HF

These financial statements were authorised for issue by the Board on 1 November 2023.

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 services in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Solent Childrens Centre Limited

trading as The Solent Children's Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

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:

Asset class

Depreciation method and rate

Tangible assets

25% Reducing Balance

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 debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

Solent Childrens Centre Limited

trading as The Solent Children's Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 24 (2022 - 23).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2022

350,000

5,159

355,159

Additions

-

259

259

At 31 July 2023

350,000

5,418

355,418

Depreciation

At 1 August 2022

-

5,159

5,159

Charge for the year

-

65

65

At 31 July 2023

-

5,224

5,224

Carrying amount

At 31 July 2023

350,000

194

350,194

At 31 July 2022

350,000

-

350,000

Included within the net book value of land and buildings above is £350,000 (2022 - £350,000) in respect of freehold land and buildings.
 

5

Debtors

2023
£

2022
£

-

-

 

Solent Childrens Centre Limited

trading as The Solent Children's Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

2,825

-

Taxation and social security

 

5,672

3,126

Accruals and deferred income

 

19,767

28,665

Other creditors

 

31,775

17,196

 

60,039

48,987

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

63,811

63,811

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Allotted, called up and fully paid of £1 each

400

400

400

400

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

63,811

63,811

 

Solent Childrens Centre Limited

trading as The Solent Children's Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

2023
£

2022
£

Current loans and borrowings

Other borrowings

2,825

-

9

Related party transactions

Summary of transactions with other related parties

At the year end the company owed directors £20,502 (2022: £16,226)