22 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 06373986 2023-01-01 2023-12-31 06373986 2023-12-31 06373986 2022-12-31 06373986 2022-01-01 2022-12-31 06373986 2022-12-31 06373986 2021-12-31 06373986 core:LandBuildings core:LongLeaseholdAssets 2023-01-01 2023-12-31 06373986 core:PlantMachinery 2023-01-01 2023-12-31 06373986 bus:Director1 2023-01-01 2023-12-31 06373986 core:LandBuildings 2022-12-31 06373986 core:PlantMachinery 2022-12-31 06373986 core:LandBuildings 2023-12-31 06373986 core:PlantMachinery 2023-12-31 06373986 core:LandBuildings 2023-01-01 2023-12-31 06373986 core:WithinOneYear 2023-12-31 06373986 core:WithinOneYear 2022-12-31 06373986 core:WithinOneYear 2021-12-31 06373986 core:AfterOneYear 2021-12-31 06373986 core:IncreaseDecreaseDueToTransitionFromPreviousStandard 2022-12-31 06373986 core:ShareCapital 2023-12-31 06373986 core:ShareCapital 2022-12-31 06373986 core:RetainedEarningsAccumulatedLosses 2023-12-31 06373986 core:RetainedEarningsAccumulatedLosses 2022-12-31 06373986 core:PreviouslyStatedAmount 2022-12-31 06373986 core:BetweenOneFiveYears 2023-12-31 06373986 core:BetweenOneFiveYears 2022-12-31 06373986 core:MoreThanFiveYears 2023-12-31 06373986 core:MoreThanFiveYears 2022-12-31 06373986 core:LandBuildings 2022-12-31 06373986 core:PlantMachinery 2022-12-31 06373986 bus:Director1 2022-12-31 06373986 bus:Director1 2023-12-31 06373986 bus:Director1 2021-12-31 06373986 bus:Director1 2022-12-31 06373986 bus:Director1 2022-01-01 2022-12-31 06373986 bus:SmallEntities 2023-01-01 2023-12-31 06373986 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06373986 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06373986 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06373986 bus:FullAccounts 2023-01-01 2023-12-31 06373986 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 06373986 core:OtherPropertyPlantEquipment 2022-12-31 06373986 core:OtherPropertyPlantEquipment 2023-12-31
COMPANY REGISTRATION NUMBER: 06373986
START RIGHT NURSERY (ANCASTER) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2023
START RIGHT NURSERY (ANCASTER) LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
FIXED ASSETS
Tangible assets
5
118,742
124,872
CURRENT ASSETS
Debtors
6
20,229
61,603
Cash at bank and in hand
304,626
183,206
---------
---------
324,855
244,809
CREDITORS: amounts falling due within one year
7
( 146,568)
( 160,232)
---------
---------
NET CURRENT ASSETS
178,287
84,577
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
297,029
209,449
PROVISIONS
Taxation including deferred tax
( 1,079)
( 1,492)
---------
---------
NET ASSETS
295,950
207,957
---------
---------
START RIGHT NURSERY (ANCASTER) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
2023
2022
Note
£
£
£
CAPITAL AND RESERVES
Called up share capital
200
200
Profit and loss account
295,750
207,757
---------
---------
SHAREHOLDERS FUNDS
295,950
207,957
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 8 August 2024 , and are signed on behalf of the board by:
L Lukies
Director
Company registration number: 06373986
START RIGHT NURSERY (ANCASTER) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12a Ermine Street, Ancaster, Grantham, Lincs, NG32 3PP.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2022. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. No critical judgements were required in order to apply the company's accounting policies, and there are no key sources of estimation uncertainty.
Revenue recognition
The turnover shown in the profit and loss account represents the value of all work done during the period, exclusive of Value Added Tax. Turnover is recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the sale have been transferred to the customer.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
4% straight line
Fixtures and office equipment
-
25% straight line
Play equipment
-
10% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 22 (2022: 22 ).
5. TANGIBLE ASSETS
Land and buildings
Plant and machinery
Equipment
Total
£
£
£
£
Cost
At 1 January 2023
182,826
32,275
8,786
223,887
Additions
2,000
1,752
3,752
Disposals
( 2,369)
( 1,240)
( 3,609)
---------
--------
-------
---------
At 31 December 2023
184,826
31,658
7,546
224,030
---------
--------
-------
---------
Depreciation
At 1 January 2023
63,780
26,785
8,450
99,015
Charge for the year
7,340
2,286
44
9,670
Disposals
( 2,157)
( 1,240)
( 3,397)
---------
--------
-------
---------
At 31 December 2023
71,120
26,914
7,254
105,288
---------
--------
-------
---------
Carrying amount
At 31 December 2023
113,706
4,744
292
118,742
---------
--------
-------
---------
At 31 December 2022
119,046
5,490
336
124,872
---------
--------
-------
---------
6. DEBTORS
2023
2022
£
£
Trade debtors
2,648
2,947
Other debtors
17,581
58,656
--------
--------
20,229
61,603
--------
--------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,900
4,569
Corporation tax
26,637
49,525
Social security and other taxes
7,276
5,794
Other creditors
108,755
100,344
---------
---------
146,568
160,232
---------
---------
8. OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
21,000
21,000
Later than 1 year and not later than 5 years
84,000
84,000
Later than 5 years
315,000
336,000
---------
---------
420,000
441,000
---------
---------
9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
L Lukies
41,663
18,487
( 59,000)
1,150
--------
--------
--------
-------
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
L Lukies
37,444
43,434
( 39,215)
41,663
--------
--------
--------
--------
10. CONTROLLING PARTY
The company is under the control of the director.
11. TRANSITION TO FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2022.
Reconciliation of equity
1 January 2022
31 December 2022
As previously stated
Effect of transition
FRS 102 (as restated)
As previously stated
Effect of transition
FRS 102 (as restated)
£
£
£
£
£
£
Fixed assets
130,934
130,934
124,872
124,872
Current assets
176,880
176,880
244,809
244,809
Creditors: amounts falling due within one year
( 160,790)
( 160,790)
( 160,232)
( 160,232)
---------
----
---------
---------
----
---------
Net current assets
16,090
16,090
84,577
84,577
---------
----
---------
---------
----
---------
Total assets less current liabilities
147,024
147,024
209,449
209,449
Creditors: amounts falling due after more than one year
( 34,487)
( 34,487)
Provisions
( 1,492)
( 1,492)
---------
----
---------
---------
-------
---------
Net assets
112,537
112,537
209,449
( 1,492)
207,957
---------
----
---------
---------
-------
---------
---------
----
---------
---------
-------
---------
Capital and reserves
112,537
112,537
209,449
( 1,492)
207,957
---------
----
---------
---------
-------
---------
The adoption of FRS 102 has resulted in a decrease in the brought forward profit and loss reserves of £1,492 due to the recognition of a deferred tax liability. This is the result of deferred tax not being required under FRS 105 which were the previous accounting standards followed by the entity.