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Registration number: 07587744

Buttercup Montessori Kindergarten Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

image-name
 

Buttercup Montessori Kindergarten Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Buttercup Montessori Kindergarten Limited

Company Information

Directors

A Taylor

N Taylor

C Cochrane

E Taylor

Registered office

125 Watchouse Road
Chelmsford
Essex
CM2 8NG

Accountants

Viewpoint Accountants Ltd
Saxon House 27 Duke Street
Chelmsford
Essex
CM1 1HT

 

Buttercup Montessori Kindergarten Limited

(Registration number: 07587744)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

174,124

144,599

Current assets

 

Debtors

6

366,764

48,257

Cash at bank and in hand

 

1,545,371

1,478,881

 

1,912,135

1,527,138

Creditors: Amounts falling due within one year

7

(274,745)

(247,947)

Net current assets

 

1,637,390

1,279,191

Net assets

 

1,811,514

1,423,790

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

1,811,414

1,423,690

Shareholders' funds

 

1,811,514

1,423,790

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 6 August 2024 and signed on its behalf by:
 

.........................................
A Taylor
Director

 

Buttercup Montessori Kindergarten Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
125 Watchouse Road
Chelmsford
Essex
CM2 8NG

These financial statements were authorised for issue by the Board on 6 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Buttercup Montessori Kindergarten Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance method

Furniture, fittings and equipment

25% reducing balance method

Leasehold improvements

20% straight line method

Motor vehicles

25% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Buttercup Montessori Kindergarten Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract
that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares
are issued, any component that creates a financial liability of the company is presented as a liability in the
balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in
the profit and loss account.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 80 (2023 - 88).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

67,032

34,794

 

Buttercup Montessori Kindergarten Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

195,607

66,813

131,009

393,429

Additions

2,580

2,547

91,430

96,557

At 31 March 2024

198,187

69,360

222,439

489,986

Depreciation

At 1 April 2023

190,782

44,401

13,647

248,830

Charge for the year

2,608

12,226

52,198

67,032

At 31 March 2024

193,390

56,627

65,845

315,862

Carrying amount

At 31 March 2024

4,797

12,733

156,594

174,124

At 31 March 2023

4,825

22,412

117,362

144,599

 

Buttercup Montessori Kindergarten Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

2024
£

2023
£

Other debtors

366,764

5,352

Prepayments

-

42,905

366,764

48,257

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

5,778

50,810

Taxation and social security

181,745

113,649

Accruals and deferred income

2,880

3,883

Other creditors

84,342

79,605

274,745

247,947

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares class A of £1 each

48

48

48

48

Ordinary shares class B of £1 each

48

48

48

48

Ordinary shares class C of £1 each

2

2

2

2

Ordinary shares class D of £1 each

2

2

2

2

100

100

100

100

 

Buttercup Montessori Kindergarten Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Directors' loan account

(54,266)

178,512

(171,168)

(46,922)

         
       

 

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Directors' loan account

2,652

116,549

(173,467)

(54,266)

         
       

 


Floating Charge

There is a floating charge held by Barclays over the companys assets to secure a loan held by the directors.