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Registration number: 06317114

Treetops Childrens Nursery Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Treetops Childrens Nursery Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 11

 

Treetops Childrens Nursery Limited

Company Information

Chairman

Mrs Suzanne Katherine Baker

Director

Mr Adrian Phillip Baker

Registered office

Beckett House
Wyrefields
Poulton Le Fylde
Lancashire
FY6 8JX

Accountants

Beckett Rawcliffe Limited
Chartered Accountants
Unit 17, Beckett House
Sovereign Court
Wyrefields
Poulton Le Fylde
Lancashire
FY6 8JX

 

Treetops Childrens Nursery Limited

(Registration number: 06317114)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

20,000

25,000

Tangible assets

5

92,555

44,891

 

112,555

69,891

Current assets

 

Debtors

6

6,966

5,288

Cash at bank and in hand

 

53,242

64,972

 

60,208

70,260

Creditors: Amounts falling due within one year

7

(28,606)

(28,281)

Net current assets

 

31,602

41,979

Total assets less current liabilities

 

144,157

111,870

Creditors: Amounts falling due after more than one year

7

(85,256)

(37,085)

Net assets

 

58,901

74,785

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

58,801

74,685

Shareholders' funds

 

58,901

74,785

For the financial year ending 31 October 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 23 February 2024
 

.........................................
Mrs Suzanne Katherine Baker
Chairman

   
     
 

Treetops Childrens Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Beckett House
Wyrefields
Poulton Le Fylde
Lancashire
FY6 8JX

The principal place of business is:
32 Carlin Gate
Blackpool
Lancashire
FY2 9QU

These financial statements were authorised for issue by the director on 23 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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

The financial statements have been prepared on a going concern basis.

Revenue recognition

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.

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.

Tax

The tax expense for the period comprises current 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.

 

Treetops Childrens Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

The current income 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.

Tangible assets

Tangible assets are stated in the balance sheet 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

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:

Asset class

Depreciation method and rate

Building improvements

Straight line over 20 years

Plant & machinery

15% on written down value

Fixtures & fittings

15% on written down value

Office equipment

15% on written down value

Motor vehicles

25% on written down value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 20 years

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 receivables.

 

Treetops Childrens Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Treetops Childrens Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 21 (2022 - 26).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2022

100,000

100,000

At 31 October 2023

100,000

100,000

Amortisation

At 1 November 2022

75,000

75,000

Amortisation charge

5,000

5,000

At 31 October 2023

80,000

80,000

Carrying amount

At 31 October 2023

20,000

20,000

At 31 October 2022

25,000

25,000

 

Treetops Childrens Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2022

19,880

111,272

-

9,711

140,863

Additions

-

2,098

73,068

-

75,166

At 31 October 2023

19,880

113,370

73,068

9,711

216,029

Depreciation

At 1 November 2022

8,880

78,796

-

8,296

95,972

Charge for the year

800

8,042

18,448

212

27,502

At 31 October 2023

9,680

86,838

18,448

8,508

123,474

Carrying amount

At 31 October 2023

10,200

26,532

54,620

1,203

92,555

At 31 October 2022

11,000

32,476

-

1,415

44,891

Included within the net book value of land and buildings above is £(800) (2022 - £(800)) in respect of freehold land and buildings and £11,000 (2022 - £11,800) in respect of long leasehold land and buildings.
 

 

Treetops Childrens Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

6,966

5,221

Other debtors

-

67

 

6,966

5,288

 

Treetops Childrens Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

580

Taxation and social security

4,011

19,461

Accruals and deferred income

5,178

5,880

Other creditors

19,417

2,360

28,606

28,281

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

85,256

37,085

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

27,256

37,085

Hire purchase contracts

58,000

-

85,256

37,085

10

Dividends

Interim dividends paid

 

Treetops Childrens Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

   

2023
£

 

2022
£

Interim dividend of £384.00 (2022 - £686.00) per each Ordinary

 

38,400

 

68,600

         

11

Related party transactions

 

Treetops Childrens Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

22,880

22,880

Expenditure with and payables to related parties

2023

Key management
£

Leases

33,800

2022

Key management
£

Rendering of services

2,814

Leases

33,800

36,614

12

Parent and ultimate parent undertaking

The ultimate controlling party is Suzanne Baker.