Registered number
06502249
The Squirrels Childcare Centre Limited
Filleted Accounts
31 March 2023
The Squirrels Childcare Centre Limited
Registered number: 06502249
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 43,917 41,649
Current assets
Stocks 100 100
Debtors 4 58,000 42,670
Cash at bank and in hand 25,973 12,124
84,073 54,894
Creditors: amounts falling due within one year 5 (34,527) (61,637)
Net current assets/(liabilities) 49,546 (6,743)
Total assets less current liabilities 93,463 34,906
Provisions for liabilities (3,839) (3,314)
Net assets 89,624 31,592
Capital and reserves
Called up share capital 120 120
Profit and loss account 89,504 31,472
Shareholders' funds 89,624 31,592
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 members have 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.
Brian Hodgkinson
Director
Approved by the board on 3 March 2024
The Squirrels Childcare Centre Limited
Notes to the Accounts
for the period from 1 August 2022 to 31 March 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 (as applied to small entities by section 1A of the standard).
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:
Leasehold land and buildings 3% straight line basis
Plant and machinery etc 20% on reducing balance
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. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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 14 13
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2022 24,893 40,223 65,116
Additions - 6,570 6,570
Disposals - (1,777) (1,777)
At 31 March 2023 24,893 45,016 69,909
Depreciation
At 1 August 2022 685 22,782 23,467
Charge for the period 498 2,685 3,183
On disposals - (658) (658)
At 31 March 2023 1,183 24,809 25,992
Net book value
At 31 March 2023 23,710 20,207 43,917
At 31 July 2022 24,208 17,441 41,649
4 Debtors 2023 2022
£ £
Trade debtors 22,099 21,335
Other debtors 35,901 21,335
58,000 42,670
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 26,209 12,541
Other creditors 8,318 49,096
34,527 61,637
6 Other information
The Squirrels Childcare Centre Limited is a private company limited by shares and incorporated in England. Its registered office is:
49 Toronto Avenue
Bispham
Blackpool
Lancashire
FY2 0PD
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