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Registered number: 08283256
Little Stars Childcare (Cardiff) Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Lewis Ballard BBB Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08283256
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,201 8,299
7,201 8,299
CURRENT ASSETS
Debtors 5 45,282 50,211
Cash at bank and in hand 5,000 9,618
50,282 59,829
Creditors: Amounts Falling Due Within One Year 6 (36,448 ) (34,325 )
NET CURRENT ASSETS (LIABILITIES) 13,834 25,504
TOTAL ASSETS LESS CURRENT LIABILITIES 21,035 33,803
Creditors: Amounts Falling Due After More Than One Year 7 (10,501 ) (17,382 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (553 ) (1,011 )
NET ASSETS 9,981 15,410
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 9,979 15,408
SHAREHOLDERS' FUNDS 9,981 15,410
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Rebecca Bound
Director
21/02/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Little Stars Childcare (Cardiff) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08283256 . The registered office is Unit 13, Llandough Trading Estate,, Penarth Road, Cardiff, CF11 8RR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 25% Reducing Balance Basis
Motor Vehicles 25% Reducing Balance Basis
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 8 6
8 6
4. Tangible Assets
Land & Property
Freehold Motor Vehicles Total
£ £ £
Cost
As at 1 December 2022 13,561 3,145 16,706
Additions - 2,499 2,499
Disposals - (3,145 ) (3,145 )
As at 30 November 2023 13,561 2,499 16,060
Depreciation
As at 1 December 2022 6,251 2,156 8,407
Provided during the period 1,827 781 2,608
Disposals - (2,156 ) (2,156 )
As at 30 November 2023 8,078 781 8,859
Net Book Value
As at 30 November 2023 5,483 1,718 7,201
As at 1 December 2022 7,310 989 8,299
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 11,208 15,751
Prepayments and accrued income 3,504 4,593
Other debtors 30,568 29,867
Other taxes and social security 2 -
45,282 50,211
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 7,472 7,454
Corporation tax 4,159 5,955
Other taxes and social security - 421
Net wages 31 -
Pension 567 474
Deferred income 22,860 15,757
Accrued expenses 905 354
Directors' loan accounts 454 3,910
36,448 34,325
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 10,501 17,382
10,501 17,382
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
9. Related Party Transactions
As at the balance sheet date the company owed the directors £454 (2022: £3,910).
As at the balance sheet date the company was owed £30,568 (2022: £29,867) from Planet Sports and Community CIC of which Rebecca Bound and Denise Morgan are both directors and 50% shareholders.
10. Ultimate Controlling Party
The company's ultimate controlling party are Mrs Rebecca L Bound and Mrs Denise M Morgan by virtue of their ownership of 100% of the issued share capital in the company.
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