2022-04-012023-03-312023-03-31false04295494Smallworld Pre-School & Link Clubs 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Smallworld Pre-School & Link Clubs Limited

Registered Number
04295494
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

Smallworld Pre-School & Link Clubs Limited
Company Information
for the year from 1 April 2022 to 31 March 2023

Director

Maria Frances Baker

Registered Address

Mason Court Gillan Way
Penrith 40 Business Park
Penrith
CA11 9GR

Place of Business

Newlands Lane

Workington

CA14 3JG


Registered Number

04295494 (England and Wales)
Smallworld Pre-School & Link Clubs Limited
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets89,88210,257
9,88210,257
Current assets
Debtors1133,76150,663
Cash at bank and on hand44
33,76550,667
Creditors amounts falling due within one year12(22,919)(20,036)
Net current assets (liabilities)10,84630,631
Total assets less current liabilities20,72840,888
Creditors amounts falling due after one year13(19,878)(41,627)
Net assets850(739)
Capital and reserves
Called up share capital22
Profit and loss account848(741)
Shareholders' funds850(739)
The financial statements were approved and authorised for issue by the Director on 11 October 2023, and are signed on its behalf by:
Maria Frances Baker
Director
Registered Company No. 04295494
Smallworld Pre-School & Link Clubs Limited
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings15
Office Equipment25
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Government grants and other government assistance policy
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
Valuation of financial instruments policy
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in notes. Prepayments are not financial instruments. Cash at bank – is classified as a basic financial instrument and is measured at face value. Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed in notes. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
5.Critical estimates and judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements There are no judgements (apart from those involving estimations) that management have made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements.
6.Sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
7.Employee information

20232022
Average number of employees during the year67
8.Property, plant and equipment

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 2251,45812,6682,4215,00671,553
At 31 March 2351,45812,6682,4215,00671,553
Depreciation and impairment
At 01 April 2242,92411,6632,3284,38161,296
Charge for year-19914162375
At 31 March 2342,92411,8622,3424,54361,671
Net book value
At 31 March 238,534806794639,882
At 31 March 228,5341,0059362510,257
Barclays Bank PLC hold a fixed charge and a floating charge that covers all the property or undertaking of the company. The charge was created on the 2 July 2013.
9.Provisions for impairment of tangible assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
10.Directors advances, credits and guarantees
Included within other debtors falling due within one year is £21,068 (2022 - £37,287) being the amount owed by the director. The total net amount repaid during the year was £16,219. These amounts were paid within nine months of the financial year end. The loans were charged the official rate of interest were applicable and are repayable on demand.
11.Debtors

2023

2022

££
Other debtors33,76150,663
Total33,76150,663
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
12.Creditors within one year

2023

2022

££
Bank borrowings and overdrafts10,800-
Taxation and social security6,18313,847
Other creditors3,8364,089
Accrued liabilities and deferred income2,1002,100
Total22,91920,036
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
13.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts19,87841,627
Total19,87841,627