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REGISTERED NUMBER: 06798690 (England and Wales)






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: Mrs C B Cody-Owen
Miss G Pidcock
Mr H J M Cody-Owen
Ms G Cody-Owen





REGISTERED OFFICE: 43 Philip Garth
Outwood
Wakefield
West Yorkshire
WF1 2LS





REGISTERED NUMBER: 06798690 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
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 60,000 70,000
Tangible assets 5 254,258 261,101
314,258 331,101

CURRENT ASSETS
Debtors 6 216,637 192,167
Cash at bank 322,306 263,211
538,943 455,378
CREDITORS
Amounts falling due within one year 7 256,794 323,508
NET CURRENT ASSETS 282,149 131,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

596,407

462,971

CREDITORS
Amounts falling due after more than one year 8 (275,824 ) (191,345 )

PROVISIONS FOR LIABILITIES (2,566 ) (1,987 )
NET ASSETS 318,017 269,639

Future Einsteins (Wakefield) Limited (Registered number: 06798690)

Balance Sheet - continued
29 April 2023

2023 2022
Notes £    £    £    £   

CAPITAL AND RESERVES
Called up share capital 10 101 101
Retained earnings 317,916 269,538
SHAREHOLDERS' FUNDS 318,017 269,639

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 April 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2024 and were signed on its behalf by:





Mrs C B Cody-Owen - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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
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.

Turnover
Turnover represents amounts invoiced during the year for child day-care services.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

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 cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 30 (2022 - 28 ) .

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 200,000
AMORTISATION
At 30 April 2022 130,000
Charge for year 10,000
At 29 April 2023 140,000
NET BOOK VALUE
At 29 April 2023 60,000
At 29 April 2022 70,000

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 30 April 2022 332,314 18,269 5,879 4,117 360,579
Additions - 433 - 2,483 2,916
At 29 April 2023 332,314 18,702 5,879 6,600 363,495
DEPRECIATION
At 30 April 2022 81,912 12,059 2,990 2,517 99,478
Charge for year 6,646 1,635 722 756 9,759
At 29 April 2023 88,558 13,694 3,712 3,273 109,237
NET BOOK VALUE
At 29 April 2023 243,756 5,008 2,167 3,327 254,258
At 29 April 2022 250,402 6,210 2,889 1,600 261,101

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 1,004 824
Amounts due from associated company 212,812 189,000
Other debtors - 1,000
Directors' current accounts 150 -
Prepayments 2,671 1,343
216,637 192,167

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,377 6,954
Trade creditors 11,714 2,300
Amounts owed to associates - 48,310
Tax 25,068 30,121
Social security and other taxes 2,568 2,477
Other creditors 2,926 4,922
Directors' current accounts 45,391 44,510
Accruals and deferred income 91,966 114,298
Deferred government grants 67,784 69,616
256,794 323,508

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 9,377 6,954
Bank loans - 2-5 years 28,132 20,861
Bank loans repayable after more than 5 yrs 238,315 163,530
275,824 191,345

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 285,201 198,299

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: £    £   
1 B Ordinary £1 1 1
100 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
£    £   
Miss G Pidcock
Balance outstanding at start of year - -
Amounts advanced 150 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 150 -