BrightAccountsProduction v1.0.0 v1.0.0 2022-09-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the provision of childcare services. 11 January 2024 33 32 NI629294 2023-08-31 NI629294 2022-08-31 NI629294 2021-08-31 NI629294 2022-09-01 2023-08-31 NI629294 2021-09-01 2022-08-31 NI629294 uk-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 NI629294 uk-curr:PoundSterling 2022-09-01 2023-08-31 NI629294 uk-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 NI629294 uk-bus:AbridgedAccounts 2022-09-01 2023-08-31 NI629294 uk-core:ShareCapital 2023-08-31 NI629294 uk-core:ShareCapital 2022-08-31 NI629294 uk-core:RetainedEarningsAccumulatedLosses 2023-08-31 NI629294 uk-core:RetainedEarningsAccumulatedLosses 2022-08-31 NI629294 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-08-31 NI629294 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-08-31 NI629294 uk-bus:FRS102 2022-09-01 2023-08-31 NI629294 uk-core:Goodwill 2022-09-01 2023-08-31 NI629294 uk-core:Land 2022-09-01 2023-08-31 NI629294 uk-core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 NI629294 uk-core:Goodwill 2022-08-31 NI629294 uk-core:Goodwill 2023-08-31 NI629294 2022-09-01 2023-08-31 NI629294 uk-bus:Director1 2022-09-01 2023-08-31 NI629294 uk-bus:Director2 2022-09-01 2023-08-31 NI629294 uk-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
First Steps Day Care Nursery Ltd.
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 August 2023



First Steps Day Care Nursery Ltd.
Company Registration Number: NI629294
ABRIDGED BALANCE SHEET
as at 31 August 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 6 130,052 139,123
───────── ─────────
 
Current Assets
Debtors 29,136 -
Cash and cash equivalents 23,161 66,954
───────── ─────────
52,297 66,954
───────── ─────────
Creditors: amounts falling due within one year (50,511) (77,991)
───────── ─────────
Net Current Assets/(Liabilities) 1,786 (11,037)
───────── ─────────
Total Assets less Current Liabilities 131,838 128,086
 
Creditors:
amounts falling due after more than one year (18,931) (29,097)
 
Provisions for liabilities (11,747) -
───────── ─────────
Net Assets 101,160 98,989
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 101,060 98,889
───────── ─────────
Shareholders' Funds 101,160 98,989
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 11 January 2024 and signed on its behalf by
           
           
________________________________     ________________________________
Mr. Barry Gray     Mr. Colin Dalton
Director     Director
           



First Steps Day Care Nursery Ltd.
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 August 2023

   
1. General Information
 
First Steps Day Care Nursery Ltd. is a private company limited by shares incorporated in Northern Ireland. 40-41 The Mall, Newry, Co. Down, BT34 1AN, Northern Ireland is the registered office, which is also the principal place of business of the company.

The financial statements cover the individual entity for the 12 month period to 31st August 2023.

The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 August 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006. These are the company's first set of financial statements prepared in accordance with FRS 102.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the value of services supplied by the company, exclusive of trade discounts and value added tax.
 
Intangible assets
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 5 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Long leasehold property - 4% Straight line
  Fixtures, fittings and equipment - 15% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing
Rentals payable under operating leases are dealt with in the Profit and Loss Account as incurred over the period of the rental agreement.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Adoption of FRS 102 Section 1A
 
This is the first set of financial statements prepared by First Steps Day Care Nursery Ltd. in accordance with accounting standards issued by the Financial Reporting Council, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities). The company transitioned from previously extant Irish and UK GAAP to FRS 102 Section 1A as at 1 January 2016.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was as follows:
 
  2023 2022
  Number Number
 
Staff 33 32
  ═════════ ═════════
     
5. Intangible assets
   
  Goodwill
  £
Cost
At 1 September 2022 15,000
  ─────────
 
At 31 August 2023 15,000
  ─────────
Amortisation
 
At 31 August 2023 15,000
  ─────────
Net book value
At 31 August 2023 -
  ═════════
         
6. Tangible assets
  Long Fixtures, Total
  leasehold fittings and  
  property equipment  
  £ £ £
Cost
At 1 September 2022 102,114 70,140 172,254
Additions - 2,748 2,748
  ───────── ───────── ─────────
At 31 August 2023 102,114 72,888 175,002
  ───────── ───────── ─────────
Depreciation
At 1 September 2022 12,252 20,879 33,131
Charge for the financial year 4,085 7,734 11,819
  ───────── ───────── ─────────
At 31 August 2023 16,337 28,613 44,950
  ───────── ───────── ─────────
Net book value
At 31 August 2023 85,777 44,275 130,052
  ═════════ ═════════ ═════════
At 31 August 2022 89,862 49,261 139,123
  ═════════ ═════════ ═════════
       
7. Pension commitments
 
The company operates a defined contribution pension scheme for employees.  The assets of the scheme are held separately from those of the company in an independently administered fund.  At 31st August 2023 unpaid contributions of £2,351 (2022: £2,041) were due to the pension provider. This is included in creditors: amounts falling due within one year.