15 false false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 207,000 147,000 10,000 157,000 50,000 60,000 xbrli:pure xbrli:shares iso4217:GBP 05251535 2022-09-01 2023-08-31 05251535 2023-08-31 05251535 2022-08-31 05251535 2021-09-01 2022-08-31 05251535 2022-08-31 05251535 2021-08-31 05251535 core:NetGoodwill 2022-09-01 2023-08-31 05251535 core:FurnitureFittings 2022-09-01 2023-08-31 05251535 bus:Director3 2022-09-01 2023-08-31 05251535 core:NetGoodwill 2022-08-31 05251535 core:NetGoodwill 2023-08-31 05251535 core:FurnitureFittings 2022-08-31 05251535 core:FurnitureFittings 2023-08-31 05251535 core:WithinOneYear 2023-08-31 05251535 core:WithinOneYear 2022-08-31 05251535 core:AfterOneYear 2023-08-31 05251535 core:AfterOneYear 2022-08-31 05251535 core:ShareCapital 2023-08-31 05251535 core:ShareCapital 2022-08-31 05251535 core:RetainedEarningsAccumulatedLosses 2023-08-31 05251535 core:RetainedEarningsAccumulatedLosses 2022-08-31 05251535 core:NetGoodwill 2022-08-31 05251535 core:FurnitureFittings 2022-08-31 05251535 bus:SmallEntities 2022-09-01 2023-08-31 05251535 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 05251535 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 05251535 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 05251535 bus:FullAccounts 2022-09-01 2023-08-31 05251535 core:OfficeEquipment 2022-09-01 2023-08-31 05251535 core:OfficeEquipment 2023-08-31 05251535 core:OfficeEquipment 2022-08-31
COMPANY REGISTRATION NUMBER: 05251535
Teddy Bears Nursery Limited
Filleted Unaudited Financial Statements
31 August 2023
Teddy Bears Nursery Limited
Financial Statements
Year ended 31 August 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Teddy Bears Nursery Limited
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
50,000
60,000
Tangible assets
6
3,343
4,457
--------
--------
53,343
64,457
Current assets
Debtors
7
1,283
1,153
Cash at bank and in hand
39,331
25,529
--------
--------
40,614
26,682
Creditors: amounts falling due within one year
8
30,652
37,257
--------
--------
Net current assets/(liabilities)
9,962
( 10,575)
--------
--------
Total assets less current liabilities
63,305
53,882
Creditors: amounts falling due after more than one year
9
33,224
38,531
Provisions
Taxation including deferred tax
635
847
--------
--------
Net assets
29,446
14,504
--------
--------
Capital and reserves
Called up share capital
3
3
Profit and loss account
29,443
14,501
--------
--------
Shareholder funds
29,446
14,504
--------
--------
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 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has 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 .
Teddy Bears Nursery Limited
Statement of Financial Position (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 9 November 2023 , and are signed on behalf of the board by:
D Whipps
Director
Company registration number: 05251535
Teddy Bears Nursery Limited
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Warlies Park House, Horseshoe Hill, Upshire, Essex, EN9 3SL, United Kingdom.
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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:
Fixtures and fittings
-
25% reducing balance
Office equipment
-
25% reducing balance
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
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 15 (2022: 15 ).
5. Intangible assets
Goodwill
£
Cost
At 1 September 2022 and 31 August 2023
207,000
---------
Amortisation
At 1 September 2022
147,000
Charge for the year
10,000
---------
At 31 August 2023
157,000
---------
Carrying amount
At 31 August 2023
50,000
---------
At 31 August 2022
60,000
---------
6. Tangible assets
Fixtures and fittings
Office equipment
Total
£
£
£
Cost
At 1 September 2022 and 31 August 2023
41,454
5,584
47,038
--------
-------
--------
Depreciation
At 1 September 2022
38,198
4,383
42,581
Charge for the year
814
300
1,114
--------
-------
--------
At 31 August 2023
39,012
4,683
43,695
--------
-------
--------
Carrying amount
At 31 August 2023
2,442
901
3,343
--------
-------
--------
At 31 August 2022
3,256
1,201
4,457
--------
-------
--------
7. Debtors
2023
2022
£
£
Other debtors
1,283
1,153
-------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,308
5,177
Corporation tax
3,995
1,234
Social security and other taxes
3,723
2,895
Other creditors
17,626
27,951
--------
--------
30,652
37,257
--------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
33,224
38,531
--------
--------
10. Related party transactions
At the year end the company owed the directors £11,173 (2022: £19,981).