Registered number
04341743
Early Learners Nursery Ltd
Filleted Accounts
31 December 2023
Early Learners Nursery Ltd
Registered number: 04341743
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 561,369 570,241
Current assets
Debtors 5 377,866 517,579
Cash at bank and in hand 257 955
378,123 518,534
Creditors: amounts falling due within one year 6 (257,432) (123,960)
Net current assets 120,691 394,574
Total assets less current liabilities 682,060 964,815
Creditors: amounts falling due after more than one year 7 (429,232) (614,615)
Provisions for liabilities (6,301) (5,846)
Net assets 246,527 344,354
Capital and reserves
Called up share capital 100 100
Profit and loss account 246,427 344,254
Shareholders' funds 246,527 344,354
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.
Hayden McCann
Director
Approved by the board on 9 March 2024
Early Learners Nursery Ltd
Notes to the Accounts
for the year ended 31 December 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:
Plant and machinery 20% reducing balance
Motor vehicle 20% reducing balance
Leasehold Improvement 10% reducing balance
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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 18 21
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 30,000
At 31 December 2023 30,000
Amortisation
At 1 January 2023 30,000
At 31 December 2023 30,000
Net book value
At 31 December 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 549,883 117,201 76,397 743,481
Additions - 11,531 - 11,531
At 31 December 2023 549,883 128,732 76,397 755,012
Depreciation
At 1 January 2023 50,548 97,029 25,663 173,240
Charge for the year 3,924 6,332 10,147 20,403
At 31 December 2023 54,472 103,361 35,810 193,643
Net book value
At 31 December 2023 495,411 25,371 40,587 561,369
At 31 December 2022 499,335 20,172 50,734 570,241
5 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 376,613 517,174
Other debtors 1,253 405
377,866 517,579
Amounts due after more than one year included above 126,685 128,685
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 34,853 73,362
Obligations under finance lease and hire purchase contracts 9,287 11,155
Trade creditors 807 2,268
Taxation and social security costs 26,217 3,274
Other creditors 186,268 33,901
257,432 123,960
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 383,801 376,869
Obligations under finance lease and hire purchase contracts 35,854 42,270
Other creditors 9,577 195,476
429,232 614,615
8 Other information
Early Learners Nursery Ltd is a private company limited by shares and incorporated in England. Its registered office is:
255 Poulton Road
Wallasey
Wirral
CH44 4BT
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