16 false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2021 - FRS102_2021 93,671 28,101 9,367 37,468 56,203 65,570 25,370 13,833 2,885 16,718 8,652 11,537 xbrli:pure xbrli:shares iso4217:GBP 11942876 2022-10-01 2023-09-30 11942876 2023-09-30 11942876 2022-09-30 11942876 2021-10-01 2022-09-30 11942876 2022-09-30 11942876 core:NetGoodwill 2022-10-01 2023-09-30 11942876 bus:Director2 2022-10-01 2023-09-30 11942876 core:NetGoodwill 2022-09-30 11942876 core:NetGoodwill 2023-09-30 11942876 core:WithinOneYear 2023-09-30 11942876 core:WithinOneYear 2022-09-30 11942876 core:AfterOneYear 2023-09-30 11942876 core:AfterOneYear 2022-09-30 11942876 core:ShareCapital 2023-09-30 11942876 core:ShareCapital 2022-09-30 11942876 core:RetainedEarningsAccumulatedLosses 2023-09-30 11942876 core:RetainedEarningsAccumulatedLosses 2022-09-30 11942876 core:NetGoodwill 2022-09-30 11942876 bus:SmallEntities 2022-10-01 2023-09-30 11942876 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 11942876 bus:FullAccounts 2022-10-01 2023-09-30 11942876 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 11942876 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 11942876 core:FurnitureFittingsToolsEquipment 2022-10-01 2023-09-30 11942876 core:FurnitureFittingsToolsEquipment 2023-09-30 11942876 core:FurnitureFittingsToolsEquipment 2022-09-30
COMPANY REGISTRATION NUMBER: 11942876
OWLS NEST NURSERY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 September 2023
OWLS NEST NURSERY LIMITED
STATEMENT OF FINANCIAL POSITION
30 September 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Intangible assets
5
56,203
65,570
Tangible assets
6
8,652
11,537
--------
--------
64,855
77,107
CURRENT ASSETS
Debtors
7
2,146
3,595
Cash at bank and in hand
44,379
43,390
--------
--------
46,525
46,985
CREDITORS: amounts falling due within one year
8
57,974
14,648
--------
--------
NET CURRENT (LIABILITIES)/ASSETS
( 11,449)
32,337
--------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
53,406
109,444
CREDITORS: amounts falling due after more than one year
9
53,304
99,336
--------
---------
NET ASSETS
102
10,108
--------
---------
CAPITAL AND RESERVES
Called up share capital fully paid
100
100
Profit and loss account
2
10,008
----
--------
SHAREHOLDERS FUNDS
102
10,108
----
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
OWLS NEST NURSERY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 19 January 2024 , and are signed on behalf of the board by:
Mrs R E M Miola
Director
Company registration number: 11942876
OWLS NEST NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England. The address of the registered office is 164 Broadway East, Abington, Northampton, NN3 2PT.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis and are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 16 (2022: 16 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 October 2022 and 30 September 2023
93,671
--------
Amortisation
At 1 October 2022
28,101
Charge for the year
9,367
--------
At 30 September 2023
37,468
--------
Carrying amount
At 30 September 2023
56,203
--------
At 30 September 2022
65,570
--------
6. TANGIBLE ASSETS
Equipment
£
Cost
At 1 October 2022 and 30 September 2023
25,370
--------
Depreciation
At 1 October 2022
13,833
Charge for the year
2,885
--------
At 30 September 2023
16,718
--------
Carrying amount
At 30 September 2023
8,652
--------
At 30 September 2022
11,537
--------
7. DEBTORS
2023
2022
£
£
Trade debtors
2,146
3,595
-------
-------
8. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
3,221
3,910
Corporation tax
9,869
5,596
Social security and other taxes
318
2,238
Other creditors
44,566
2,904
--------
--------
57,974
14,648
--------
--------
9. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
53,304
55,836
Other creditors
43,500
--------
--------
53,304
99,336
--------
--------