REGISTERED NUMBER: |
The Foundations For Learning Partnership |
Limited |
Financial Statements |
for the Year Ended 31 August 2023 |
REGISTERED NUMBER: |
The Foundations For Learning Partnership |
Limited |
Financial Statements |
for the Year Ended 31 August 2023 |
The Foundations For Learning Partnership |
Limited (Registered number: 03536600) |
Contents of the Financial Statements |
for the year ended 31 August 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
The Foundations For Learning Partnership |
Limited |
Company Information |
for the year ended 31 August 2023 |
Directors: |
Registered office: |
Registered number: |
The Foundations For Learning Partnership |
Limited (Registered number: 03536600) |
Balance Sheet |
31 August 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
Net assets |
Reserves |
Share premium |
Revaluation reserve | 9 |
Retained earnings | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The Foundations For Learning Partnership |
Limited (Registered number: 03536600) |
Balance Sheet - continued |
31 August 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
The Foundations For Learning Partnership |
Limited (Registered number: 03536600) |
Notes to the Financial Statements |
for the year ended 31 August 2023 |
1. | Statutory information |
The Foundations For Learning Partnership Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is recognised at the fair value of the consideration received or receivable for Nursery services |
provided in the normal course of business . |
Rental income is accounted for on a rent receivable basis |
Intangible fixed assets - goodwill |
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value |
of net assets of the nursery business acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life. |
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to |
benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for |
impairment at least annually, or more frequently when there is an indication that the unit may be impaired. |
If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the |
impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and |
then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit. |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of |
depreciation and any impairment losses |
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over |
their useful lives on the following bases: |
Land and buildings - Freehold Land not depreciated |
Permanent buildings - 2 % on cost per annum |
Land and buildings Leasehold - 10 % on cost per annum |
Fixtures & Fittings - 10% on cost per annum ( as part of an acquisition 10% - 25% ) |
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 . |
The Foundations For Learning Partnership |
Limited (Registered number: 03536600) |
Notes to the Financial Statements - continued |
for the year ended 31 August 2023 |
2. | Accounting policies - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Going concern |
These financial statements have been prepared on a going concern basis. |
The current economic conditions present increased risks for all businesses. In response to such conditions, the directors have carefully considered these risks including an assessment on uncertainty on future trading |
projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis. |
Based on assessment, the directors consider that the Company maintains an appropriate level of liquidity, |
sufficient to meet the demands of the business including any capital and servicing obligations and external |
debt liabilities. |
In addition, the Company's assets are assessed for recoverability on a regular basis, and the directors consider that the Company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis. |
The directors have a reasonable expectation that the Company has adequate resources to continue in |
operational existence for the foreseeable future and that there are no material uncertainties that lead to |
significant doubts upon the Company's ability to continue as a going concern. Thus the directors have |
continued to adopt the going concern basis of accounting in preparing these financial statements |
3. | Employees and directors |
The average number of employees during the year was |
4. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1 September 2022 |
and 31 August 2023 |
Amortisation |
At 1 September 2022 |
and 31 August 2023 |
Net book value |
At 31 August 2023 |
At 31 August 2022 |
The Foundations For Learning Partnership |
Limited (Registered number: 03536600) |
Notes to the Financial Statements - continued |
for the year ended 31 August 2023 |
5. | Tangible fixed assets |
Fixtures |
Freehold | Long | and |
property | leasehold | fittings | Totals |
£ | £ | £ | £ |
Cost |
At 1 September 2022 |
and 31 August 2023 |
Depreciation |
At 1 September 2022 |
Charge for year |
At 31 August 2023 |
Net book value |
At 31 August 2023 |
At 31 August 2022 |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
8. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
The Foundations For Learning Partnership |
Limited (Registered number: 03536600) |
Notes to the Financial Statements - continued |
for the year ended 31 August 2023 |
9. | Reserves |
Revaluation |
reserve |
£ |
At 1 September 2022 |
and 31 August 2023 |