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REGISTERED NUMBER: 07252887 (England and Wales)










Little 1 Nursery Ltd

Unaudited Financial Statements

for the Period 1 January 2022 to 31 March 2023






Little 1 Nursery Ltd (Registered number: 07252887)






Contents of the Financial Statements
for the Period 1 January 2022 to 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Little 1 Nursery Ltd

Company Information
for the Period 1 January 2022 to 31 March 2023







DIRECTORS: R L Mirza
B N Mirza





REGISTERED OFFICE: 49 Valley Road
Chandlers Ford
Hampshire
SO53 1GS





REGISTERED NUMBER: 07252887 (England and Wales)

Little 1 Nursery Ltd (Registered number: 07252887)

Balance Sheet
31 March 2023

2023 2021
Notes £    £   
FIXED ASSETS
Intangible assets 4 147,822 165,010
Tangible assets 5 260,403 273,586
408,225 438,596

CURRENT ASSETS
Debtors 6 338 338
Cash at bank 24,612 5,194
24,950 5,532
CREDITORS
Amounts falling due within one year 7 (71,502 ) (78,855 )
NET CURRENT LIABILITIES (46,552 ) (73,323 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

361,673

365,273

CREDITORS
Amounts falling due after more than one year 8 (20,934 ) (34,490 )
NET ASSETS 340,739 330,783

CAPITAL AND RESERVES
Called up share capital 10 4 4
Retained earnings 340,735 330,779
SHAREHOLDERS' FUNDS 340,739 330,783

Little 1 Nursery Ltd (Registered number: 07252887)

Balance Sheet - continued
31 March 2023


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

The members have not required the company to obtain an audit of its financial statements for the period 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by:





R L Mirza - Director


Little 1 Nursery Ltd (Registered number: 07252887)

Notes to the Financial Statements
for the Period 1 January 2022 to 31 March 2023

1. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

2. ACCOUNTING POLICIES

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.

The company's functional and presentational currency is pound sterling.

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.

GOING CONCERN
The financial statements have been prepared on a going concern basis.

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 20 years

TANGIBLE FIXED ASSETS
Tangible assets are stated in the statement of financial position 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 classDepreciation method and rate
Land and Buildings5% SLM basis
Leasehold improvements10% SLM basis


Little 1 Nursery Ltd (Registered number: 07252887)

Notes to the Financial Statements - continued
for the Period 1 January 2022 to 31 March 2023

2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

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.

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.

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.

Little 1 Nursery Ltd (Registered number: 07252887)

Notes to the Financial Statements - continued
for the Period 1 January 2022 to 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 30 (2021 - 38 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 March 2023 275,000
AMORTISATION
At 1 January 2022 109,990
Amortisation for period 17,188
At 31 March 2023 127,178
NET BOOK VALUE
At 31 March 2023 147,822
At 31 December 2021 165,010

5. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 January 2022 345,510
Additions 9,765
Disposals (4,692 )
At 31 March 2023 350,583
DEPRECIATION
At 1 January 2022 71,924
Charge for period 21,911
Eliminated on disposal (3,655 )
At 31 March 2023 90,180
NET BOOK VALUE
At 31 March 2023 260,403
At 31 December 2021 273,586

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Prepayments 338 338

Little 1 Nursery Ltd (Registered number: 07252887)

Notes to the Financial Statements - continued
for the Period 1 January 2022 to 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Bank loans and overdrafts (see note 9) 9,989 9,655
Corporation tax liability 27,415 15,587
Social security and other taxes 14,280 12,845
Other creditors 3,050 18,362
Credit Card 13,304 -
Directors' current accounts 366 9,311
Accruals and deferred income 3,098 13,095
71,502 78,855

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2021
£    £   
Bank loans (see note 9) 20,934 34,490

9. LOANS

An analysis of the maturity of loans is given below:

2023 2021
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,989 9,655

Amounts falling due between two and five years:
Bank loans 20,934 34,490

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2021
value: £    £   
4 Ordinary shares £1 4 4

Little 1 Nursery Ltd (Registered number: 07252887)

Notes to the Financial Statements - continued
for the Period 1 January 2022 to 31 March 2023

11. RELATED PARTY TRANSACTIONS - TRANSACTIONS WITH DIRECTORS

The following advances and credits to directors subsisted during the period ended 31 March 2023 and the year ended 31 December 2021:

2023 2021
£    £   
B N Mirza and R L Mirza
Balance outstanding at start of period (9,311 ) (80,462 )
Amounts advanced 130,667 315,341
Amounts repaid (121,722 ) (244,190 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (366 ) (9,311 )

The company rents one of its nurseries from the director and a charge of £92,400 (2021 : £84,000) has been made for this. The director is owed £366 (2020 : £9,311) at the end of the year end and this shown under other creditors of less than one year.