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Registered number: 03237891









CLOWNS NURSERY CARE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CLOWNS NURSERY CARE LIMITED
REGISTERED NUMBER: 03237891

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
114,481
124,361

  
114,481
124,361

Current assets
  

Debtors: amounts falling due within one year
 5 
1,535,567
2,008,279

Current asset investments
 6 
1,265,889
1,216,513

Cash at bank and in hand
 7 
1,680,981
1,738,393

  
4,482,437
4,963,185

Creditors: amounts falling due within one year
 8 
(1,217,240)
(1,209,154)

Net current assets
  
 
 
3,265,197
 
 
3,754,031

Total assets less current liabilities
  
3,379,678
3,878,392

Creditors: amounts falling due after more than one year
 9 
(34,425)
(41,947)

Provisions for liabilities
  

Deferred tax
 10 
(20,252)
(15,412)

  
 
 
(20,252)
 
 
(15,412)

Net assets
  
3,325,001
3,821,033


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
3,324,901
3,820,933

  
3,325,001
3,821,033


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
CLOWNS NURSERY CARE LIMITED
REGISTERED NUMBER: 03237891
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






D Landy
Director
Date: 31 July 2024

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
CLOWNS NURSERY CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Clowns Nursery Care Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is Cinderella Path 153 North End Road, Golders Green, London, NW11 7HZ.
The company's principal activity is that of a Children's Nursery .
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises the invoiced value of nursery and pre-school care services supplied by the company, net of Value Added Tax and trade discounts. Nursery and pre-school fees are recognised when the company has entitlement to the fees, receipt is probable and the amount can be reliably measured.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
CLOWNS NURSERY CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Items in excess of £500 are treated as capital assets.

Page 4

 
CLOWNS NURSERY CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Reducing Balance
Fixtures and fittings
-
15%
Reducing Balance
Office equipment
-
33%
Straight Line
Computer equipment
-
33%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
CLOWNS NURSERY CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 60 (2022 - 59).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
102,316
397,597
47,114
14,975
562,002


Additions
-
-
3,897
26,982
30,879



At 31 December 2023

102,316
397,597
51,011
41,957
592,881



Depreciation


At 1 January 2023
45,162
363,633
21,445
7,401
437,641


Charge for the year on owned assets
14,289
5,095
9,857
11,518
40,759



At 31 December 2023

59,451
368,728
31,302
18,919
478,400



Net book value



At 31 December 2023
42,865
28,869
19,709
23,038
114,481



At 31 December 2022
57,154
33,964
25,669
7,574
124,361

Page 6

 
CLOWNS NURSERY CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
1,496,053
1,973,846

Prepayments and accrued income
39,514
34,433

1,535,567
2,008,279



6.


Current asset investments

2023
2022
£
£

Listed investments
1,265,889
1,216,513

1,265,889
1,216,513



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,680,981
1,738,393

1,680,981
1,738,393



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
371,377
318,007

Other taxation and social security
50,304
42,192

Obligations under finance lease and hire purchase contracts
7,521
6,271

Other creditors
728,210
790,544

Accruals and deferred income
59,828
52,140

1,217,240
1,209,154


Page 7

 
CLOWNS NURSERY CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
34,425
41,947

34,425
41,947



10.


Deferred taxation




2023


£






At beginning of year
(15,412)


Charged to profit or loss
(4,840)



At end of year
(20,252)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(20,252)
(15,412)

(20,252)
(15,412)


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £34,261.48 (2022: £33,989). Contributions totaling £8,221 (2022: £8,249) were payable to the fund at the balance sheet date and are included in creditors.


12.


Related party transactions

At the balance sheet date, £1,513 (2022: £511,550) was due from companies under common control.
At the year end, £1,126,122 (2022: £1,102,015) was due from a director to the company.

 
Page 8