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Registered number: 07162426
Right Start Day Nurseries (Greater Manchester) Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
Whittles LLP
1 Richmond Road
Lytham St Annes
Lancashire
FY8 1PE
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07162426
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 7,714 8,729
7,714 8,729
CURRENT ASSETS
Debtors 6 100,652 89,042
Cash at bank and in hand 8,477 17,849
109,129 106,891
Creditors: Amounts Falling Due Within One Year 7 (33,486 ) (14,534 )
NET CURRENT ASSETS (LIABILITIES) 75,643 92,357
TOTAL ASSETS LESS CURRENT LIABILITIES 83,357 101,086
NET ASSETS 83,357 101,086
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 83,257 100,986
SHAREHOLDERS' FUNDS 83,357 101,086
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For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R Woodmason
Director
Mr D Stoker
Director
16/04/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Right Start Day Nurseries (Greater Manchester) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07162426 . The registered office is 1 Richmond Road, Lytham St Annes, FY8 1PE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Turnover represents nursery and childcare fees received or receivable.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of ten years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% straight line
Fixtures & Fittings 15% reducing balance
2.5. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2022: 16)
16 16
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2022 43,499
As at 31 July 2023 43,499
Amortisation
As at 1 August 2022 43,499
As at 31 July 2023 43,499
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 August 2022 3,110 34,178 37,288
Additions - 219 219
As at 31 July 2023 3,110 34,397 37,507
Depreciation
As at 1 August 2022 311 28,248 28,559
Provided during the period 311 923 1,234
As at 31 July 2023 622 29,171 29,793
Net Book Value
As at 31 July 2023 2,488 5,226 7,714
As at 1 August 2022 2,799 5,930 8,729
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 10,971 18,187
Other taxes and social security - 195
Amounts owed by group undertakings 89,681 70,660
100,652 89,042
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 1
Corporation tax 5,375 10,412
Other taxes and social security 2,271 -
Other creditors 20,532 228
Accruals and deferred income - 3,893
Directors' loan accounts 624 -
Amounts owed to group undertakings 4,684 -
33,486 14,534
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 5