ELEPHANT & CASTLE DAY NURSERY LIMITED

Company Registration Number:
06347659 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

ELEPHANT & CASTLE DAY NURSERY LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Company Information - 3
Profit and Loss Account - 4
Balance sheet - 5
Additional notes - 7
Balance sheet notes - 10

ELEPHANT & CASTLE DAY NURSERY LIMITED

Company Information

for the Period Ended 31 March 2024




Director: MIOARA ISTRATE
MIRON ISTRATE
Registered office: 15
Hampton Street
London
SE17 3AN
Company Registration Number: 06347659 (England and Wales)

ELEPHANT & CASTLE DAY NURSERY LIMITED

Profit and Loss Account

for the Period Ended 31 March 2024


Notes

2024
£

2023
£
Gross Profit or (Loss) 103,964 2,547,350
Income from coronavirus (COVID-19) business support grants 0 0
Administrative Expenses ( 70,929 ) ( 284,084 )
Operating Profit or (Loss) 33,035 2,263,266
Profit or (Loss) Before Tax 33,035 2,263,266
Profit or (Loss) for Period 33,035 2,263,266

The notes form part of these financial statements

ELEPHANT & CASTLE DAY NURSERY LIMITED

Balance sheet

As at 31 March 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 4 1,376,886 1,379,946
Total fixed assets: 1,376,886 1,379,946
Current assets
Cash at bank and in hand: 236 3,859
Total current assets: 236 3,859
Creditors: amounts falling due within one year: 5 ( 100,000 ) ( 1,412,123 )
Net current assets (liabilities): ( 99,764 ) ( 1,408,264 )
Total assets less current liabilities: 1,277,122 ( 28,318 )
Creditors: amounts falling due after more than one year: ( 1,275,803 )
Total net assets (liabilities): 1,319 ( 28,318 )

The notes form part of these financial statements

ELEPHANT & CASTLE DAY NURSERY LIMITED

Balance sheet continued

As at 31 March 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 1,219 ( 28,418 )
Shareholders funds: 1,319 ( 28,318 )

For the year ending 31 March 2024 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 19 August 2024
And Signed On Behalf Of The Board By:

Name: MIOARA ISTRATE
Status: Director

Name: MIRON ISTRATE
Status: Director

The notes form part of these financial statements

ELEPHANT & CASTLE DAY NURSERY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 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

    The turnover is made up the rental activity received from renting the nursery premises to another childcare provider, by a sighed Commercial Lease for 12 years, starting from 01/06/2023.

    Tangible fixed assets depreciation policy

ELEPHANT & CASTLE DAY NURSERY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 0 0

ELEPHANT & CASTLE DAY NURSERY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 3. Off balance sheet disclosure

    No

ELEPHANT & CASTLE DAY NURSERY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Tangible Assets

Total
Cost £
At 01 April 2023 1,392,186
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2024 1,392,186
Depreciation
At 01 April 2023 12,240
Charge for year 3,060
On disposals -
Other adjustments -
At 31 March 2024 15,300
Net book value
At 31 March 2024 1,376,886
At 31 March 2023 1,379,946

ELEPHANT & CASTLE DAY NURSERY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

The Directors provided the company with a Director Loan of 1,185,157.00 through out private funding to buy the land and the nursery premises from Southwark Council - London, in 2011. They continuously financially supported the company with the refurbishment and extension of the nursery premises between 2011 and 2024 and thus, the total Director Loan to the company was £1,375,803.00 at 31/03/2024.
The nursery childcare activity of the company was closed on 16/12/2022 and all employees, excepting the directors and two managers, were made redundant. The two managers resigned in October 2023 and the Directors were no longer paid from 01/04/2024. The company Payroll was also closed from 01/04/2024.
On 01/06/2023, a commercial lease for 12 years was signed with another childcare provider - 1st Place Children and Parents' Centre Ltd - London and the Directors are fulfilling their legal obligations resulted from this lease.
The rent is now the main source of income/ turnover of the company.
The Directors' aim is to recover their Loan to the company yearly in the next year from the rental activity they are are managing now.

ELEPHANT & CASTLE DAY NURSERY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6.1. Loans to Directors

Name of director receiving advance or credit: MIOARA ISTRATE
Description of the transaction:
The Directors provided the company with a Director Loan of £1,375,803.00 through out private funding to buy the land and the nursery premises from Southwark Council - London.
Balance at 01 April 2023 1,412,123
Advances or credits repaid: 36,320
Balance at 31 March 2024 1,375,803