PRAISE CHILDCARE SERVICES LIMITED

Company Registration Number:
11666728 (England and Wales)

Unaudited abridged accounts for the year ended 30 November 2023

Period of accounts

Start date: 01 December 2022

End date: 30 November 2023

PRAISE CHILDCARE SERVICES LIMITED

Contents of the Financial Statements

for the Period Ended 30 November 2023

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

PRAISE CHILDCARE SERVICES LIMITED

Company Information

for the Period Ended 30 November 2023




Director: Sonia Carrington
Michael Tyndall
Registered office: 9 Honor Oak Road
London
England
SE23 3SQ
Company Registration Number: 11666728 (England and Wales)

PRAISE CHILDCARE SERVICES LIMITED

Directors' Report Period Ended 30 November 2023

The directors present their report with the financial statements of the company for the period ended 30 November 2023

Principal Activities

Childcare, nursery and early years education and development.

Political and charitable donations

None

Company policy on the employment of disabled persons

It is the company's policy to give employment to all where economically feasible.

Directors

The directors shown below have held office during the whole of the period from 01 December 2022 to 30 November 2023
Sonia Carrington
Michael Tyndall

This report was approved by the board of directors on 30 June 2024
And Signed On Behalf Of The Board By:

Name: Sonia Carrington
Status: Director

Name: Michael Tyndall
Status: Director

PRAISE CHILDCARE SERVICES LIMITED

Profit and Loss Account

for the Period Ended 30 November 2023


Notes

2023
£

2022
£
Gross Profit or (Loss) 260,794 182,024
Administrative Expenses ( 251,294 ) ( 183,688 )
Operating Profit or (Loss) 9,500 ( 1,664 )
Profit or (Loss) Before Tax 9,500 ( 1,664 )
Tax on Profit ( 1,805 ) -
Profit or (Loss) for Period 7,695 ( 1,664 )

The notes form part of these financial statements

PRAISE CHILDCARE SERVICES LIMITED

Balance sheet

As at 30 November 2023


Notes

2023
£

2022
£
Fixed assets
Tangible assets: 4 2,040 2,550
Total fixed assets: 2,040 2,550
Current assets
Cash at bank and in hand: 46,687 71,664
Total current assets: 46,687 71,664
Creditors: amounts falling due within one year: 5 ( 5,305 ) ( 3,500 )
Net current assets (liabilities): 41,382 68,164
Total assets less current liabilities: 43,422 70,714
Creditors: amounts falling due after more than one year: 6 ( 30,105 ) ( 53,265 )
Provision for liabilities: ( 11,827 )
Total net assets (liabilities): 13,317 5,622

The notes form part of these financial statements

PRAISE CHILDCARE SERVICES LIMITED

Balance sheet continued

As at 30 November 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 350 350
Profit and loss account: 12,967 5,272
Shareholders funds: 13,317 5,622

For the year ending 30 November 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 30 June 2024
And Signed On Behalf Of The Board By:

Name: Sonia Carrington
Status: Director

Name: Michael Tyndall
Status: Director

The notes form part of these financial statements

PRAISE CHILDCARE SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    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 is reduced for estimated customer returns, rebates and other similar allowances.

    Sale of goods

    Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

    Rendering of services

    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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

    Tangible fixed assets depreciation policy

    Depreciation is on a straight line basis at 20%

    Other accounting policies

    1.3. 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 year 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 asset reflects 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.

PRAISE CHILDCARE SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 10 10

PRAISE CHILDCARE SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 3. Off balance sheet disclosure

    No

PRAISE CHILDCARE SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

4. Tangible Assets

Total
Cost £
At 01 December 2022 2,550
Additions -
Disposals -
Revaluations -
Transfers -
At 30 November 2023 2,550
Depreciation
At 01 December 2022 -
Charge for year 510
On disposals -
Other adjustments -
At 30 November 2023 510
Net book value
At 30 November 2023 2,040
At 30 November 2022 2,550

PRAISE CHILDCARE SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

5. Creditors: amounts falling due within one year note

Accountant 3500
CT 1805

PRAISE CHILDCARE SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

6. Creditors: amounts falling due after more than one year note

Monies owed for setting up the nursery and works expended