Padnell Pre-School
Registered number: 07556426
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,403 2,806
1,403 2,806
Current assets
Stocks 605 521
Debtors 4 3,339 5,663
Cash at bank and in hand 54,819 47,430
58,763 53,614
Creditors: amounts falling due within one year 5 (4,262) (4,330)
Net current assets 54,501 49,284
Total assets less current liabilities 55,904 52,090
Provisions for liabilities - -
Net assets 55,904 52,090
Capital and reserves
Unrestricted Funds 55,904 52,032
Restricted Funds - 58
Shareholder's funds 55,904 52,090
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Hannah Shepherd
Director
Approved by the board on 28 February 2024
Padnell Pre-School
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment over 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. The company is registered as a charity and is exempt from corporation tax on it's main activities.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 11 10
3 Tangible fixed assets
Equipment Total
£ £
Cost
At 1 September 2022 14,029 14,029
Additions - -
Surplus on revaluation - -
Disposals - -
At 31 August 2023 14,029 14,029
Depreciation
At 1 September 2022 11,223 11,223
Charge for the year 1,403 1,403
Surplus on revaluation - -
On disposals - -
At 31 August 2023 12,626 12,626
Net book value
At 31 August 2023 1,403 1,403
At 31 August 2022 2,806 2,806
4 Debtors 2023 2022
£ £
Trade debtors 1,151 3,198
Other debtors 2,188 2,465
3,339 5,663
Amounts due after more than one year included above - -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,879 3,135
Other taxes and social security costs 708 422
Other creditors 675 773
4,262 4,330
6 Creditors: amounts falling due after one year 2023 2022
£ £
Trade creditors - -
Other creditors - -
- -
7 Other information
Padnell Pre-School is a private company limited by guarantee and incorporated in England. Its registered office is:
Padnell Avenue
Cowplain
Waterlooville
Hampshire
PO8 8DS
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