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REGISTERED NUMBER: 07395530















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Flying Start Nurseries (SW) Limited

Flying Start Nurseries (SW) Limited (Registered number: 07395530)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Flying Start Nurseries (SW) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: S R Cowburn
Mrs S W E Cowburn
Mrs S G Rose





REGISTERED OFFICE: 1 Trelawney Road
CAMBORNE
Cornwall
TR14 7LN





REGISTERED NUMBER: 07395530





ACCOUNTANTS: Colin Truscott Accountancy Limited
9 Heron Close
Tresillian
Cornwall
TR2 4BH

Flying Start Nurseries (SW) Limited (Registered number: 07395530)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 59,500 119,000
Tangible assets 5 580,302 603,090
639,802 722,090

CURRENT ASSETS
Stocks 1,500 1,500
Debtors 6 167,703 196,341
Cash at bank and in hand 147,804 221,373
317,007 419,214
CREDITORS
Amounts falling due within one year 7 174,678 282,932
NET CURRENT ASSETS 142,329 136,282
TOTAL ASSETS LESS CURRENT
LIABILITIES

782,131

858,372

CREDITORS
Amounts falling due after more than
one year

8

(404,322

)

(440,229

)

PROVISIONS FOR LIABILITIES 11 (41,244 ) (32,433 )
NET ASSETS 336,565 385,710

Flying Start Nurseries (SW) Limited (Registered number: 07395530)

Balance Sheet - continued
31 March 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 336,465 385,610
SHAREHOLDERS' FUNDS 336,565 385,710

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2023 and were signed on its behalf by:





S R Cowburn - Director


Flying Start Nurseries (SW) Limited (Registered number: 07395530)

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

1. STATUTORY INFORMATION

Flying Start Nurseries (SW) Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is now being amortised over 10 years from 01 April 2014. This is considered by the directors to be a reliable estimate of the useful life of the goodwill

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.
Freehold property - 10% on cost
Equipment - 25% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Flying Start Nurseries (SW) Limited (Registered number: 07395530)

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

2. ACCOUNTING POLICIES - continued
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 profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 83 (2022 - 85 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 700,000
AMORTISATION
At 1 April 2022 581,000
Amortisation for year 59,500
At 31 March 2023 640,500
NET BOOK VALUE
At 31 March 2023 59,500
At 31 March 2022 119,000

Flying Start Nurseries (SW) Limited (Registered number: 07395530)

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

5. TANGIBLE FIXED ASSETS
Freehold Long Motor
property leasehold Equipment vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 361,600 406,632 51,211 4,500 823,943
Additions - 31,148 5,447 - 36,595
Disposals - - (10,925 ) - (10,925 )
At 31 March 2023 361,600 437,780 45,733 4,500 849,613
DEPRECIATION
At 1 April 2022 23,504 161,492 31,357 4,500 220,853
Charge for year 7,232 42,526 9,625 - 59,383
Eliminated on disposal - - (10,925 ) - (10,925 )
At 31 March 2023 30,736 204,018 30,057 4,500 269,311
NET BOOK VALUE
At 31 March 2023 330,864 233,762 15,676 - 580,302
At 31 March 2022 338,096 245,140 19,854 - 603,090

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 621 2,506
Other debtors 158,000 187,601
Accrued income - 569
Prepayments 9,082 5,665
167,703 196,341

Included within other debtors are the following amounts;

A balance is due from Technology for Learning in Childcare (TLC) Limited totalling £158,000 (2022:£178,000), of which Mrs SWE Cowburn is the majority shareholder and director.

Flying Start Nurseries (SW) Limited (Registered number: 07395530)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9)
35,971

34,649
Trade creditors 7,318 10,217
Tax 53,178 67,308
Social security and other taxes 9,104 6,647
Other creditors 12,023 6,679
Directors' current accounts 2,459 122,880
Deferred income 32,187 24,450
Accrued expenses 13,560 5,185
Deferred grants 8,878 4,917
174,678 282,932

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans (see note 9) 404,322 440,229

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 265,651 296,678

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 35,971 34,649

Amounts falling due between one and two years:
Bank loans - 1-2 years 37,344 35,973

Amounts falling due between two and five years:
Bank loans - 2-5 years 101,327 107,578

Amounts falling due in more than five years:

Flying Start Nurseries (SW) Limited (Registered number: 07395530)

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

9. LOANS - continued
2023 2022
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 265,651 296,678

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 440,293 474,878

The bank loan is secured on leasehold property known as land at University College St Mark and St John

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 41,244 32,433

Deferred
tax
£   
Balance at 1 April 2022 32,433
Accelerated capital allowances 1,087
Change in tax rate 7,724
Balance at 31 March 2023 41,244

12. RELATED PARTY DISCLOSURES

During the year £20,000 (2022: £20,000) has been paid for the rental of a property used in the business which is owned by a pension fund belonging to Mr S R Cowburn (Director and Shareholder).


Mrs S W & Mr S R Cowburn loaned funds to the company and at the year end this balance totalled £4,460 (2022: £122,880). Interest totalling £9,076 (2022: £16,000) was paid on this loan during the year.

Flying Start Nurseries (SW) Limited (Registered number: 07395530)

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

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S R Cowburn and Mrs S W Cowburn (directors and shareholders).