REGISTERED NUMBER: |
Future Einsteins (Wakefield) Limited |
Financial Statements |
for the Year Ended 29 April 2023 |
REGISTERED NUMBER: |
Future Einsteins (Wakefield) Limited |
Financial Statements |
for the Year Ended 29 April 2023 |
Future Einsteins (Wakefield) Limited (Registered number: 06798690) |
Contents of the Financial Statements |
for the Year Ended 29 April 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Future Einsteins (Wakefield) Limited |
Company Information |
for the Year Ended 29 April 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
33 George Street |
Wakefield |
West Yorkshire |
WF1 1LX |
Future Einsteins (Wakefield) Limited (Registered number: 06798690) |
Balance Sheet |
29 April 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
Future Einsteins (Wakefield) Limited (Registered number: 06798690) |
Balance Sheet - continued |
29 April 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Future Einsteins (Wakefield) Limited (Registered number: 06798690) |
Notes to the Financial Statements |
for the Year Ended 29 April 2023 |
1. | STATUTORY INFORMATION |
Future Einsteins (Wakefield) Limited is a |
The functional and presentational currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts invoiced during the year for child day-care services. |
Goodwill |
Tangible fixed assets |
Freehold property | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Fixed assets are initially recorded at cost. |
Government grants |
Grants receivable in relation to revenue expenditure, including the Coronavirus Job Retention Scheme, are credited to profit and loss in the period to which they relate. |
Grants receivable for the purpose of immediate financial support with regards to the Covid-19 pandemic, where there are no further related costs, are recognised in income in the period in which they are receivable. |
Grants received in relation to capital expenditure are included within creditors and released to the profit and loss account in line with the depreciation charged on the relevant capital items. |
Future Einsteins (Wakefield) Limited (Registered number: 06798690) |
Notes to the Financial Statements - continued |
for the Year Ended 29 April 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the provision of Section 11 "Basic Financial Information" and Section 12 "Other Financial Issues" of FRS 102 to all its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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 |
Future Einsteins (Wakefield) Limited (Registered number: 06798690) |
Notes to the Financial Statements - continued |
for the Year Ended 29 April 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 30 April 2022 |
and 29 April 2023 |
AMORTISATION |
At 30 April 2022 |
Charge for year |
At 29 April 2023 |
NET BOOK VALUE |
At 29 April 2023 |
At 29 April 2022 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Motor | Computer |
property | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 30 April 2022 |
Additions |
At 29 April 2023 |
DEPRECIATION |
At 30 April 2022 |
Charge for year |
At 29 April 2023 |
NET BOOK VALUE |
At 29 April 2023 |
At 29 April 2022 |
Future Einsteins (Wakefield) Limited (Registered number: 06798690) |
Notes to the Financial Statements - continued |
for the Year Ended 29 April 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts due from associated company |
Other debtors |
Directors' current accounts | 150 | - |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to associates | - | 48,310 |
Tax |
Social security and other taxes |
Other creditors |
Directors' current accounts | 45,391 | 44,510 |
Accruals and deferred income |
Deferred government grants |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Bank loans - 2-5 years |
Bank loans repayable after more than 5 yrs |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans repayable after more than 5 yrs | 238,315 | 163,530 |
Future Einsteins (Wakefield) Limited (Registered number: 06798690) |
Notes to the Financial Statements - continued |
for the Year Ended 29 April 2023 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
Bank borrowings are secured by way of a fixed and floating charges over the freehold property and all other assets held by the company. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
B Ordinary | £1 | 1 | 1 |
A Ordinary | £1 | 100 | 100 |
101 | 101 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the year ended 29 April 2023 and the period ended 29 April 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |