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Registered number: 07355206
Little Legs Limited
Financial Statements
For The Year Ended 31 December 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07355206
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 826,856 806,088
826,856 806,088
CURRENT ASSETS
Debtors 5 51,614 37,964
Cash at bank and in hand 128,913 163,999
180,527 201,963
Creditors: Amounts Falling Due Within One Year 6 (157,519 ) (181,938 )
NET CURRENT ASSETS (LIABILITIES) 23,008 20,025
TOTAL ASSETS LESS CURRENT LIABILITIES 849,864 826,113
Creditors: Amounts Falling Due After More Than One Year 7 (187,173 ) (217,268 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (49,811 ) (34,249 )
NET ASSETS 612,880 574,596
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 12 181,941 181,941
Profit and Loss Account 430,839 392,555
SHAREHOLDERS' FUNDS 612,880 574,596
Page 1
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For the year ending 31 December 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
Mrs Tina Lassman
Director
30 April 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Little Legs Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07355206 . The registered office is Unit 3c, The Gattinetts, Hadleigh Road, East Bergholt, Essex, CO7 6QT.
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. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of child care services is recognised as and when the care service has been carried out. 
2.3. 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:
Freehold Remeasurement to fair value
Leasehold Over the term of the lease
Motor Vehicles 25% Straight Line Basis
Fixtures & Fittings 3 Years Straight Line Basis
2.4. 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.
2.5. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 32 (2022: 28)
32 28
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4. Tangible Assets
Land & Property
Freehold Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 January 2023 800,000 3,672 16,780 26,853 847,305
Additions - 5,550 11,000 6,806 23,356
As at 31 December 2023 800,000 9,222 27,780 33,659 870,661
Depreciation
As at 1 January 2023 - 514 16,019 24,684 41,217
Provided during the period - 185 1,107 1,296 2,588
As at 31 December 2023 - 699 17,126 25,980 43,805
Net Book Value
As at 31 December 2023 800,000 8,523 10,654 7,679 826,856
As at 1 January 2023 800,000 3,158 761 2,169 806,088
Cost or valuation as at 31 December 2023 represented by:
Land & Property
Freehold Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
At cost - 9,222 27,780 33,659 70,661
At valuation 800,000 - - - 800,000
800,000 9,222 27,780 33,659 870,661
The directors are of the opinion that there has not been a material change in the fair value of the freehold property. The fair value of the property as at 31st December 2023 has been arrived on the basis of a valuation carried out by the directors who are not professionally qualified valuers. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties. 
If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
Land & Property
Freehold
£
Cost 621,412
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Page 5
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 27,773 -
Prepayments and accrued income 2,831 8,585
Other debtors 100 100
Directors' loan accounts 1,525 5,894
Amounts owed by associates 19,385 23,385
51,614 37,964
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 3,609
Bank loans and overdrafts 45,856 42,734
Corporation tax 18,502 36,054
Other taxes and social security 2,959 16,611
Net wages 22,659 23,012
Other creditors 5,336 36,265
Accruals and deferred income 62,207 23,503
Directors' loan accounts - 150
157,519 181,938
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 187,173 217,268
187,173 217,268
The commercial mortgage due within and after more than one year is secured by a charge against the company's freehold property of 664 Rayleigh Road, Hutton, Brentwood, Essex, CM13 1SJ by Barclays Bank Plc delivered on the 13 November 2010, and a charge also by a director and current shareholder delivered on the 16 November 2010. The mortgage is secured by a personal guarantee from one of the directors, to the sum of £100,000.
A fixed and floating debenture is held over all the company's assets by a director and shareholder delivered on 26 May 2011.
Barclays Bank Plc also hold a fixed and floating debenture and guarantee aver all the company's assets, delivered on 9 November 2010 and 11 May 2012.
8. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Bank loans and overdrafts 205,506 222,503
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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10. Capital Commitments
2023 2022
£ £
At the end of the period 118,750 143,750
At the end of the period, the company had capital commitments contracted for but not provided in these financial statements
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mrs Tina Lassman 5,893 - 4,369 - 1,524
The above loan is unsecured, interest free and repayable on demand.
12. Reserves
Revaluation Reserve
£
As at 1 January 2023 181,941
As at 31 December 2023 181,941
13. Related Party Transactions
Included within other debtors is £19,385 (2022 - £23,385) which is due from a company of which a director has a participating intrest by way of amn interest free loan.
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