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Company No: 08143290 (England and Wales)

CHIPMUNKS DAY NURSERY LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

CHIPMUNKS DAY NURSERY LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

CHIPMUNKS DAY NURSERY LIMITED

BALANCE SHEET

As at 31 August 2023
CHIPMUNKS DAY NURSERY LIMITED

BALANCE SHEET (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 45,650 11,875
45,650 11,875
Current assets
Stocks 5 1,000 1,000
Debtors 6 35,934 25,969
Cash at bank and in hand 608,445 759,585
645,379 786,554
Creditors: amounts falling due within one year 7 ( 101,335) ( 108,156)
Net current assets 544,044 678,398
Total assets less current liabilities 589,694 690,273
Provision for liabilities ( 8,674) ( 2,256)
Net assets 581,020 688,017
Capital and reserves
Called-up share capital 100 100
Profit and loss account 580,920 687,917
Total shareholders' funds 581,020 688,017

For the financial 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 financial statements of Chipmunks Day Nursery Limited (registered number: 08143290) were approved and authorised for issue by the Board of Directors on 04 March 2024. They were signed on its behalf by:

Mr I V Wells
Director
CHIPMUNKS DAY NURSERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
CHIPMUNKS DAY NURSERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Chipmunks Day Nursery Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 20 % reducing balance
Fixtures and fittings 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Government grants

Government grants are recognised based on the accrual model.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 43 50

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 September 2022 375,000 375,000
At 31 August 2023 375,000 375,000
Accumulated amortisation
At 01 September 2022 375,000 375,000
At 31 August 2023 375,000 375,000
Net book value
At 31 August 2023 0 0
At 31 August 2022 0 0

4. Tangible assets

Vehicles Fixtures and fittings Total
£ £ £
Cost
At 01 September 2022 24,000 28,888 52,888
Additions 40,176 0 40,176
Disposals ( 24,000) 0 ( 24,000)
At 31 August 2023 40,176 28,888 69,064
Accumulated depreciation
At 01 September 2022 18,967 22,046 41,013
Charge for the financial year 1,007 1,368 2,375
Disposals ( 19,974) 0 ( 19,974)
At 31 August 2023 0 23,414 23,414
Net book value
At 31 August 2023 40,176 5,474 45,650
At 31 August 2022 5,033 6,842 11,875

5. Stocks

2023 2022
£ £
Stocks 1,000 1,000

6. Debtors

2023 2022
£ £
Trade debtors 15,018 20,554
Corporation tax 13,316 0
Other debtors 7,600 5,415
35,934 25,969

7. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 13,305 25,640
Other creditors 88,030 82,516
101,335 108,156

8. Related party transactions

Transactions with the entity's directors

During the year the directors maintained an interest-free loan account with the company which was repayable on demand.

At the balance sheet date the amount due to the company was £1,923 (2022 - due to the directors - £9,249).