Silverfin false false 31/08/2023 01/09/2022 31/08/2023 CJ Stoneham 17/07/2012 14 March 2024 The principal activity of the Company during the financial year was the provision of childcare services. 08149850 2023-08-31 08149850 bus:Director1 2023-08-31 08149850 2022-08-31 08149850 core:CurrentFinancialInstruments 2023-08-31 08149850 core:CurrentFinancialInstruments 2022-08-31 08149850 core:ShareCapital 2023-08-31 08149850 core:ShareCapital 2022-08-31 08149850 core:RetainedEarningsAccumulatedLosses 2023-08-31 08149850 core:RetainedEarningsAccumulatedLosses 2022-08-31 08149850 core:Goodwill 2022-08-31 08149850 core:Goodwill 2023-08-31 08149850 core:FurnitureFittings 2022-08-31 08149850 core:OfficeEquipment 2022-08-31 08149850 core:FurnitureFittings 2023-08-31 08149850 core:OfficeEquipment 2023-08-31 08149850 2022-09-01 2023-08-31 08149850 bus:FilletedAccounts 2022-09-01 2023-08-31 08149850 bus:SmallEntities 2022-09-01 2023-08-31 08149850 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 08149850 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 08149850 bus:Director1 2022-09-01 2023-08-31 08149850 core:Goodwill core:TopRangeValue 2022-09-01 2023-08-31 08149850 core:FurnitureFittings core:TopRangeValue 2022-09-01 2023-08-31 08149850 core:OfficeEquipment 2022-09-01 2023-08-31 08149850 2021-09-01 2022-08-31 08149850 core:FurnitureFittings 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Company No: 08149850 (England and Wales)

PAVILION PETTS WOOD LTD

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

PAVILION PETTS WOOD LTD

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

PAVILION PETTS WOOD LTD

BALANCE SHEET

As at 31 August 2023
PAVILION PETTS WOOD LTD

BALANCE SHEET (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 5 1,016 1,354
1,016 1,354
Current assets
Debtors 6 898 794
Cash at bank and in hand 262,951 206,725
263,849 207,519
Creditors: amounts falling due within one year 7 ( 27,735) ( 15,579)
Net current assets 236,114 191,940
Total assets less current liabilities 237,130 193,294
Provision for liabilities 0 ( 338)
Net assets 237,130 192,956
Capital and reserves
Called-up share capital 100 100
Profit and loss account 237,030 192,856
Total shareholder's funds 237,130 192,956

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.

Director's responsibilities:

The financial statements of Pavilion Petts Wood Ltd (registered number: 08149850) were approved and authorised for issue by the Director on 14 March 2024. They were signed on its behalf by:

CJ Stoneham
Director
PAVILION PETTS WOOD LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
PAVILION PETTS WOOD LTD

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

Pavilion Petts Wood Ltd (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:
The Pavilion Wood Ride
Petts Wood
Orpington
Kent
England,
BR5 1PY
United Kingdom.

These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including section 1A of Financial Reporting Standard 102 - 'The Financial Reporting standard applicable in the United Kingdom and Republic of Ireland' 'FRS 102', and with the Companies Act 2006.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director therefore continues to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either other creditors or other debtors in the Balance Sheet.

Taxation

Current tax
The tax expense for the period comprises current corporation tax. Tax is recognised in profit or loss, 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.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable 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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. 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.

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 assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Fixtures and fittings 4 years straight line
Office equipment 25 % 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.

Trade and other debtors

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, except where the effect of discounting would be immaterial. In such cases debtors are stated at transaction price less impairment losses. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the transaction.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade and other creditors

Trade and other creditors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be immaterial. In such cases creditors are stated at transaction price.

Government grants

The company has adopted the accrual model for accounting for government grants. Grants relating to revenue are recognised in income on a systematic basis over the same period as the related costs for which the grant is intended to compensate. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 15 15

4. Intangible assets

Goodwill Total
£ £
Cost
At 01 September 2022 120,000 120,000
At 31 August 2023 120,000 120,000
Accumulated amortisation
At 01 September 2022 120,000 120,000
At 31 August 2023 120,000 120,000
Net book value
At 31 August 2023 0 0
At 31 August 2022 0 0

5. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 September 2022 1,280 3,861 5,141
At 31 August 2023 1,280 3,861 5,141
Accumulated depreciation
At 01 September 2022 1,235 2,552 3,787
Charge for the financial year 11 327 338
At 31 August 2023 1,246 2,879 4,125
Net book value
At 31 August 2023 34 982 1,016
At 31 August 2022 45 1,309 1,354

6. Debtors

2023 2022
£ £
Trade debtors 104 0
Other debtors 794 794
898 794

7. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 11,717 654
Other creditors 16,018 14,925
27,735 15,579

8. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Directors loan account 12,728 11,596