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REGISTERED NUMBER: SC289295 (Scotland)










Financial Statements

For The Year Ended 31 December 2023

for

Kool Kidz (Scotland) Ltd.

Kool Kidz (Scotland) Ltd. (Registered number: SC289295)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kool Kidz (Scotland) Ltd.

Company Information
For The Year Ended 31 December 2023







DIRECTORS: J Whelehan
A Malloy





SECRETARY: J Whelehan





REGISTERED OFFICE: Unit 1-2
Chryston Business Park
Cloverhill Place
Glasgow
North Lanarkshire
G69 9DQ





REGISTERED NUMBER: SC289295 (Scotland)





ACCOUNTANTS: Cahill Jack Associates Limited
91 Alexander Street
Airdrie
North Lanarkshire
ML6 0BD

Kool Kidz (Scotland) Ltd. (Registered number: SC289295)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 422,139 431,186

CURRENT ASSETS
Debtors 5 10,131 8,944
Cash at bank and in hand 240,575 227,417
250,706 236,361
CREDITORS
Amounts falling due within one year 6 18,173 102,671
NET CURRENT ASSETS 232,533 133,690
TOTAL ASSETS LESS CURRENT
LIABILITIES

654,672

564,876

CREDITORS
Amounts falling due after more than one
year

7

(14,155

)

(24,000

)

PROVISIONS FOR LIABILITIES (15,617 ) (15,617 )
NET ASSETS 624,900 525,259

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 9 79,635 79,635
Retained earnings 544,265 444,624
SHAREHOLDERS' FUNDS 624,900 525,259

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Kool Kidz (Scotland) Ltd. (Registered number: SC289295)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 February 2024 and were signed on its behalf by:





J Whelehan - Director


Kool Kidz (Scotland) Ltd. (Registered number: SC289295)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Kool Kidz (Scotland) Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made are described below:

Estimated useful lives and residual values of fixed assets
As described under the Tangible Fixed Asset heading of this accounting policies note, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as applicable. The reviews take into account estimated useful lives used by other companies operating within the same sector and actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

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 rendering of nursery services.

Revenue from agreement to provide services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on reducing balance
Improvements to property - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Government grants
Grants considered to be revenue in nature are credited to the profit and loss account in the same period as the related expenditure.

Financial instruments
The following assets and liabilities are classified as basic financial instruments - trade creditors, loans from related companies and directors loans.

Directors' loans and loans from related companies, being repayable on demand, and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.


Kool Kidz (Scotland) Ltd. (Registered number: SC289295)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 500,000 8,000 5,095 7,058 520,153
DEPRECIATION
At 1 January 2023 71,985 5,964 5,095 5,923 88,967
Charge for year 8,560 203 - 284 9,047
At 31 December 2023 80,545 6,167 5,095 6,207 98,014
NET BOOK VALUE
At 31 December 2023 419,455 1,833 - 851 422,139
At 31 December 2022 428,015 2,036 - 1,135 431,186

Kool Kidz (Scotland) Ltd. (Registered number: SC289295)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,131 8,944

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Taxation and social security 37,343 28,011
Other creditors (29,170 ) 64,660
18,173 102,671

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,155 24,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 24,155 34,000

The BBL loan is supported by a 100% guarantee from the UK Government.

9. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 79,635

10. RELATED PARTY DISCLOSURES

The company trades with one other company which is under common control.All transactions are at arms length on the basis of open market value.