Registered number
SC219870
Tiny Tots Nursery Limited
Filleted Accounts
31 March 2023
Tiny Tots Nursery Limited
Registered number: SC219870
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 558,066 518,845
Current assets
Debtors 4 266,478 211,126
Cash at bank and in hand 126,118 27,785
392,596 238,911
Creditors: amounts falling due within one year 5 (76,640) (112,899)
Net current assets 315,956 126,012
Net assets 874,022 644,857
Capital and reserves
Called up share capital 100 100
Revaluation reserve 6 (232,400) (232,400)
Profit and loss account 1,106,322 877,157
Shareholder's funds 874,022 644,857
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Faisal Mohammed
Director
Approved by the board on 22 June 2023
Tiny Tots Nursery Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 0%
Property improvements 10% Reducing balance
Motor vehicles 20% Reducing balance
Fixtures & Fittings 20% Reducing balance
Computer Equipment 25% Straight line
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 32 34
3 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 494,911 41,651 34,378 570,940
Additions - 63,561 - 63,561
At 31 March 2023 494,911 105,212 34,378 634,501
Depreciation
At 1 April 2022 16,854 26,583 8,658 52,095
Charge for the year 14,140 5,056 5,144 24,340
At 31 March 2023 30,994 31,639 13,802 76,435
Net book value
At 31 March 2023 463,917 73,573 20,576 558,066
At 31 March 2022 478,057 15,068 25,720 518,845
4 Debtors 2023 2022
£ £
Trade debtors 612 1,602
Prepaid expenses 4,838 4,838
Other debtors 261,028 204,686
266,478 211,126
5 Creditors: amounts falling due within one year 2023 2022
£ £
Prepaid income 16,421 4,583
Taxation and social security costs 54,604 100,140
Accruals 5,615 8,176
76,640 112,899
6 Revaluation reserve 2023 2022
£ £
At 1 April 2022 (232,400) (232,400)
At 31 March 2023 (232,400) (232,400)
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Faisal Mohammed
Director loan 54,687 40,000 - 94,687
54,687 40,000 - 94,687
A further £40,000 was advanced to the director during the year. The director repaid £40,000 to company prior to 9 months of the company's year end.
8 Controlling party
The company was ultimately controlled by the director, Faisal Mohammed.
9 Other information
Tiny Tots Nursery Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
7 Kenilworth Court
Greenfields
Cumbernauld
North Lanarkshire
G67 1BP
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