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COMPANY REGISTRATION NUMBER: 10429941
Manor House Kindergarten Ltd
Filleted Unaudited Financial Statements
31 March 2023
Manor House Kindergarten Ltd
Financial Statements
Year ended 31 March 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Manor House Kindergarten Ltd
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
20,000
22,500
Current assets
Debtors
6
13,242
Cash at bank and in hand
30,089
66,718
--------
--------
43,331
66,718
Creditors: amounts falling due within one year
7
16,711
35,532
--------
--------
Net current assets
26,620
31,186
--------
--------
Total assets less current liabilities
46,620
53,686
Creditors: amounts falling due after more than one year
8
24,109
34,020
--------
--------
Net assets
22,511
19,666
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
22,411
19,566
--------
--------
Shareholders funds
22,511
19,666
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Manor House Kindergarten Ltd
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 3 November 2023 , and are signed on behalf of the board by:
S P Sheerin
Director
Company registration number: 10429941
Manor House Kindergarten Ltd
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Manor House, Hartsdown Park, Hartsdown Road, Margate, CT9 5QX, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property
-
10% straight line
Impairment of fixed 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.
Government grants
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2022: 12 ).
5. Tangible assets
Long leasehold property
£
Cost
At 1 April 2022 and 31 March 2023
25,000
--------
Depreciation
At 1 April 2022
2,500
Charge for the year
2,500
--------
At 31 March 2023
5,000
--------
Carrying amount
At 31 March 2023
20,000
--------
At 31 March 2022
22,500
--------
6. Debtors
2023
2022
£
£
Other debtors
13,242
--------
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,912
9,668
Other creditors
6,799
25,864
--------
--------
16,711
35,532
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
24,109
34,020
--------
--------
9. Related party transactions
At the year end the company owed £3,914 (2022: £23,914) to a company associated under common control.
10. Controlling party
The ultimate parent company is Manor House Nursery Group Limited a company registered in England and Wales. The company's registered office is Manor House Hartsdown Park, Hartsdown Road, Margate, England, CT9 5QX.