Smilers Nursery Limited
Registered number: 09720137
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,195,925 1,207,221
Current assets
Cash at bank and in hand 312,089 316,022
Creditors: amounts falling due within one year 4 (580,058) (612,425)
Net current liabilities (267,969) (296,403)
Total assets less current liabilities 927,956 910,818
Creditors: amounts falling due after more than one year 5 (512,765) (590,687)
Net assets 415,191 320,131
Capital and reserves
Called up share capital 100 100
Profit and loss account 415,091 320,031
Shareholders' funds 415,191 320,131
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mr Sarbjit Singh Jandoo
Director
Approved by the board on 16 November 2023
Smilers 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. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised when received.
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:
Equipment, fixtures and fittings 20% reducing balance basis
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 45 32
3 Tangible fixed assets
Premises costs Improvements Equipment and fittings Total
£ £ £ £
Cost
At 1 April 2022 1,140,310 19,438 109,335 1,269,083
Stamp Duty - - -
At 31 March 2023 1,140,310 19,438 109,335 1,269,083
Depreciation
At 1 April 2022 8,194 815 52,853 61,862
Charge for the year - - 11,296 11,296
At 31 March 2023 8,194 815 64,149 73,158
Net book value
At 31 March 2023 1,132,116 18,623 45,186 1,195,925
At 31 March 2022 1,132,116 18,623 56,482 1,207,221
4 Creditors: amounts falling due within one year 2023 2022
£ £
Directors' current account 503,116 539,664
Bank loan 29,674 29,674
Corporation tax 22,461 19,474
Other taxes and social security costs 8,814 8,814
Advance fee and parents' deposit held 12,993 11,799
Other creditors and accruals 3,000 3,000
580,058 612,425
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loan 302,765 320,687
Bounce back loan 210,000 270,000
512,765 590,687
6 Controlling party
The directors control the company.
7 Other information
Smilers Nursery Limited is a private company limited by shares and incorporated in England. Its registered office is:
17 Leeland Mansions
Leeland Road
West Ealing
London
W13 9HE
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