Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302022-12-01falseEducation Consultancy55truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10827863 2022-12-01 2023-11-30 10827863 2021-12-01 2022-11-30 10827863 2023-11-30 10827863 2022-11-30 10827863 c:Director1 2022-12-01 2023-11-30 10827863 d:ComputerEquipment 2022-12-01 2023-11-30 10827863 d:ComputerEquipment 2023-11-30 10827863 d:ComputerEquipment 2022-11-30 10827863 d:CurrentFinancialInstruments 2023-11-30 10827863 d:CurrentFinancialInstruments 2022-11-30 10827863 d:Non-currentFinancialInstruments 2023-11-30 10827863 d:Non-currentFinancialInstruments 2022-11-30 10827863 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 10827863 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 10827863 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 10827863 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 10827863 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 10827863 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-11-30 10827863 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 10827863 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-11-30 10827863 d:ShareCapital 2023-11-30 10827863 d:ShareCapital 2022-11-30 10827863 d:RetainedEarningsAccumulatedLosses 2023-11-30 10827863 d:RetainedEarningsAccumulatedLosses 2022-11-30 10827863 c:FRS102 2022-12-01 2023-11-30 10827863 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 10827863 c:AbridgedAccounts 2022-12-01 2023-11-30 10827863 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 10827863 10 2022-12-01 2023-11-30 10827863 11 2022-12-01 2023-11-30 10827863 12 2022-12-01 2023-11-30 10827863 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 10827863









MEDWAY EARLY YEARS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
MEDWAY EARLY YEARS LIMITED
REGISTERED NUMBER: 10827863

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors
  
25,548
39,815

Cash at bank and in hand
  
69,671
69,953

  
95,219
109,768

Creditors: amounts falling due within one year
 7 
(53,356)
(74,250)

Net current assets
  
 
 
41,863
 
 
35,518

Total assets less current liabilities
  
41,863
35,518

Creditors: amounts falling due after more than one year
  
(19,166)
(28,827)

Net assets
  
22,697
6,691


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
22,597
6,591

  
22,697
6,691


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.

The Company has opted not to file the statement of comprehensive income 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: 




Kirsteen Jane Denver-fedder
Director
Date: 4 September 2024
Page 1

 
MEDWAY EARLY YEARS LIMITED
REGISTERED NUMBER: 10827863
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
MEDWAY EARLY YEARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

The entity is a private company limited by shares and incorporated in England & Wales. The company’s
registered office and registration number are on company information page.

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
MEDWAY EARLY YEARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
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.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

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.

 
2.8

Taxation

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.

Page 4

 
MEDWAY EARLY YEARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.9

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%

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.

 
2.10

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.

Page 5

 
MEDWAY EARLY YEARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.13

Financial liabilities

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form.

Financial liabilities within the scope of IAS 39 are initially classified as financial liabilities at fair value through profit or loss, loans and borrowings, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.
The Group determines the classification of its financial liabilities at initial recognition. All financial liabilities are recognised initially at fair value and in the case of loans and borrowings, plus directly attributable transaction costs.
Subsequently, the measurement of financial liabilities depends on their classification as follows:

Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss includes financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss.

Financial liabilities are classified as held for trading if they are acquired for the purpose of repurchasing in the near term. Derivatives, including separately embedded derivatives are also classified as held for trading unless they are designated as effective hedging instruments. Gains or losses on liabilities held for trading are recognised in profit or loss.

Interest bearing loans and borrowings

Obligations for loans and borrowings are recognised when the Group becomes party to the related contracts and are measured initially at the fair value of consideration received less directly attributable transaction costs.
After initial recognition, interest bearing loans and borrowings are subsequently measured at amortised cost using the effective interest method.
Gains and losses arising on the repurchase, settlement or otherwise cancellation of liabilities are recognised respectively in finance revenue and finance cost.

Derecognition of financial liabilities

A liability is derecognised when the contract that gives rise to it is settled, sold, cancelled or expires.
Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such as an exchange or modification, this is treated as a derecognition of the original liability, such that the difference in the respective carrying amounts together with any costs or fees incurred are recognised in profit or loss.

 
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.

Page 6

 
MEDWAY EARLY YEARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

3.


Employees

2023
2022
£
£

Wages and salaries
66,348
56,576

Social security costs
2,784
1,228

Cost of defined contribution scheme
1,527
1,238

70,659
59,042


The average monthly number of employees, including directors, during the year was 5 (2022 - 5).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 December 2022
6,384



At 30 November 2023

6,384



Depreciation


At 1 December 2022
6,384



At 30 November 2023

6,384



Net book value



At 30 November 2023
-



At 30 November 2022
-


5.


Debtors

2023
2022
£
£


Trade debtors
25,448
29,715

Other debtors
100
100

Prepayments and accrued income
-
10,000
Page 7

 
MEDWAY EARLY YEARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.Debtors (continued)


25,548
39,815



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
69,671
69,953

69,671
69,953



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,094
8,740

Corporation tax
33,655
22,452

Other taxation and social security
9,560
42,190

Other creditors
382
233

Accruals and deferred income
665
635

53,356
74,250



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
19,166
28,827

19,166
28,827


Page 8

 
MEDWAY EARLY YEARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
9,094
8,740


9,094
8,740

Amounts falling due 1-2 years

Bank loans
9,491
9,121


9,491
9,121

Amounts falling due 2-5 years

Bank loans
9,675
19,706


9,675
19,706


28,260
37,567



10.


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 £1,527 (2022: £1,238). Contributions totalling £382 (2022: £233) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9