10 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 2021 - FRS102_2021 2,500 500 250 750 1,750 2,000 3,000 1,080 384 1,464 1,536 1,920 xbrli:pure xbrli:shares iso4217:GBP 13154829 2022-09-01 2023-08-31 13154829 2023-08-31 13154829 2022-08-31 13154829 2021-09-01 2022-08-31 13154829 2022-08-31 13154829 core:NetGoodwill 2022-09-01 2023-08-31 13154829 bus:Director1 2022-09-01 2023-08-31 13154829 core:NetGoodwill 2022-08-31 13154829 core:NetGoodwill 2023-08-31 13154829 core:WithinOneYear 2023-08-31 13154829 core:WithinOneYear 2022-08-31 13154829 core:ShareCapital 2023-08-31 13154829 core:ShareCapital 2022-08-31 13154829 core:RetainedEarningsAccumulatedLosses 2023-08-31 13154829 core:RetainedEarningsAccumulatedLosses 2022-08-31 13154829 core:NetGoodwill 2022-08-31 13154829 bus:Director1 2022-08-31 13154829 bus:Director1 2023-08-31 13154829 bus:Director1 2021-08-31 13154829 bus:Director1 2022-08-31 13154829 bus:Director1 2021-09-01 2022-08-31 13154829 bus:SmallEntities 2022-09-01 2023-08-31 13154829 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 13154829 bus:FullAccounts 2022-09-01 2023-08-31 13154829 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 13154829 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 13154829 core:OfficeEquipment 2022-09-01 2023-08-31 13154829 core:OfficeEquipment 2023-08-31 13154829 core:OfficeEquipment 2022-08-31
COMPANY REGISTRATION NUMBER: 13154829
Shirley Preschool Limited
Filleted Unaudited Financial Statements
31 August 2023
Shirley Preschool Limited
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
5
1,750
2,000
Tangible assets
6
1,536
1,920
-------
-------
3,286
3,920
Current assets
Stocks
2,750
650
Debtors
7
17,220
9,600
Cash at bank and in hand
8,478
19,169
--------
--------
28,448
29,419
Creditors: amounts falling due within one year
8
31,264
32,422
--------
--------
Net current liabilities
2,816
3,003
-------
-------
Total assets less current liabilities
470
917
----
----
Net assets
470
917
----
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
370
817
----
----
Shareholder funds
470
917
----
----
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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Shirley Preschool Limited
Statement of Financial Position (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 13 March 2024 , and are signed on behalf of the board by:
Mr A B F Hiscock
Director
Company registration number: 13154829
Shirley Preschool 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 England and Wales. The address of the registered office is 36a Hiltingbury Road, Chandlers Ford, Eastleigh, Hampshire, SO53 5SS, 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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Equipment
-
20% 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2022: 12 ).
5. Intangible assets
Goodwill
£
Cost
At 1 September 2022 and 31 August 2023
2,500
-------
Amortisation
At 1 September 2022
500
Charge for the year
250
-------
At 31 August 2023
750
-------
Carrying amount
At 31 August 2023
1,750
-------
At 31 August 2022
2,000
-------
6. Tangible assets
Equipment
£
Cost
At 1 September 2022 and 31 August 2023
3,000
-------
Depreciation
At 1 September 2022
1,080
Charge for the year
384
-------
At 31 August 2023
1,464
-------
Carrying amount
At 31 August 2023
1,536
-------
At 31 August 2022
1,920
-------
7. Debtors
2023
2022
£
£
Other debtors
17,220
9,600
--------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
787
2,993
Corporation tax
11,093
16,371
Other creditors
19,384
13,058
--------
--------
31,264
32,422
--------
--------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr A B F Hiscock
( 6,816)
( 853)
( 7,669)
-------
----
----
-------
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr A B F Hiscock
( 9,554)
2,738
( 6,816)
-------
----
-------
-------