Registered number
08263826
Early Learners Nursery Middlewich Ltd
Filleted Accounts
31 December 2023
Early Learners Nursery Middlewich Ltd
Registered number: 08263826
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 542,815 523,272
Current assets
Debtors 5 2,014 11,168
Cash at bank and in hand 1 145
2,015 11,313
Creditors: amounts falling due within one year 6 (162,654) (257,315)
Net current liabilities (160,639) (246,002)
Total assets less current liabilities 382,176 277,270
Creditors: amounts falling due after more than one year 7 (210,743) (226,435)
Provisions for liabilities (2,987) (2,606)
Net assets 168,446 48,229
Capital and reserves
Called up share capital 300 300
Profit and loss account 168,146 47,929
Shareholders' funds 168,446 48,229
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.
Hayden McCann
Director
Approved by the board on 20 February 2024
Early Learners Nursery Middlewich Ltd
Notes to the Accounts
for the year ended 31 December 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:
Plant and machinery 20% reducing balance
Motor vehciles 20% reducing balance
Land and Buildings 2% Straight line
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 15 14
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 20,240
At 31 December 2023 20,240
Amortisation
At 1 January 2023 20,240
At 31 December 2023 20,240
Net book value
At 31 December 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 570,066 61,463 - 631,529
Additions - - 31,399 31,399
At 31 December 2023 570,066 61,463 31,399 662,928
Depreciation
At 1 January 2023 60,497 47,760 - 108,257
Charge for the year 8,214 3,642 - 11,856
At 31 December 2023 68,711 51,402 - 120,113
Net book value
At 31 December 2023 501,355 10,061 31,399 542,815
At 31 December 2022 509,569 13,703 - 523,272
5 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 8,153
Other debtors 2,014 3,015
2,014 11,168
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 58,852 37,257
Trade creditors 73 85
Amounts owed to group undertakings and undertakings in which the company has a participating interest 47,430 166,413
Taxation and social security costs 4,037 2,779
Other creditors 52,262 50,781
162,654 257,315
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 210,743 226,435
8 Other information
Early Learners Nursery Middlewich Ltd is a private company limited by shares and incorporated in England. Its registered office is:
255 Poulton Road
Wallasey
Wirral
CH44 4BT
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