Company registration number 13581357 (England and Wales)
LITTLE TIGERS (PARK ROYAL) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
LITTLE TIGERS (PARK ROYAL) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
LITTLE TIGERS (PARK ROYAL) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
3
12,040
15,684
Tangible assets
4
1,015,964
1,070,345
1,028,004
1,086,029
Current assets
Debtors
5
191,962
150,806
Cash at bank and in hand
40,871
11,670
232,833
162,476
Creditors: amounts falling due within one year
6
(111,382)
(1,573,085)
Net current assets/(liabilities)
121,451
(1,410,609)
Net assets/(liabilities)
1,149,455
(324,580)
Capital and reserves
Called up share capital
7
1,000,100
100
Profit and loss reserves
149,355
(324,680)
Total equity
1,149,455
(324,580)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved and signed by the director and authorised for issue on 14 May 2024
C Holmes
Director
Company Registration No. 13581357
LITTLE TIGERS (PARK ROYAL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Little Tigers (Park Royal) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 102 Abinger Road, Chiswick, London, United Kingdom, W4 1EX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the value of services supplied by the company and income from revenue grants in relation to the nursery.

 

The parents of new starters pay a deposit equivalent to two weeks' fees in advance. These fees are non-refundable. The prepayment of these fees is recognised as income in the final month of the child's stay and is accounted for in deferred income until that time.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Nursery Branding
33% on cost
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Over the remaining lease term
Fixtures and fittings
33% on cost
Computers
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

LITTLE TIGERS (PARK ROYAL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

LITTLE TIGERS (PARK ROYAL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
16
12
3
Intangible fixed assets
Nursery Branding
£
Cost
At 1 January 2023
22,208
Additions
7,075
At 31 December 2023
29,283
Amortisation and impairment
At 1 January 2023
6,524
Amortisation charged for the year
10,719
At 31 December 2023
17,243
Carrying amount
At 31 December 2023
12,040
At 31 December 2022
15,684
LITTLE TIGERS (PARK ROYAL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Tangible fixed assets
(as restated)
Leasehold land and buildings
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 January 2023
1,012,059
80,567
10,438
1,103,064
Additions
18,774
-
0
-
0
18,774
At 31 December 2023
1,030,833
80,567
10,438
1,121,838
Depreciation and impairment
At 1 January 2023
-
0
29,549
3,170
32,719
Depreciation charged in the year
42,735
26,916
3,504
73,155
At 31 December 2023
42,735
56,465
6,674
105,874
Carrying amount
At 31 December 2023
988,098
24,102
3,764
1,015,964
At 31 December 2022
1,012,059
51,018
7,268
1,070,345
5
Debtors
(as restated)
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
22,492
14,930
Other debtors
169,470
135,876
191,962
150,806
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
7,081
4,668
Amounts owed to group undertakings
-
0
1,468,274
Taxation and social security
6,282
7,759
Other creditors
98,019
92,384
111,382
1,573,085
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
LITTLE TIGERS (PARK ROYAL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
7
Called up share capital
(Continued)
- 6 -
2023
2022
2023
2022
Preference share capital
Number
Number
£
£
Issued and fully paid
Preference shares of £1 each
1,000,000
-
1,000,000
-
Preference shares classified as equity
1,000,000
-
Total equity share capital
1,000,100
100

During the year 1,000,000 redeemable £1 preference shares was issued.

8
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
2,775,485
-
0
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
David Lawrence BSc (Hons) FCA
Statutory Auditor:
Azets Audit Services
10
Prior period adjustment

A deposit in respect of the leasehold was previously recognised as being capitalised under leasehold improvements, it has since been established that it is refundable. Therefore a prior year adjustment of £120,000 has been made to reflect this by removing the balance within tangible fixed assets and including it as an other debtor.

 

2023-12-312023-01-01false29 August 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityThis audit opinion is unqualifiedC Holmesfalsefalse135813572023-01-012023-12-31135813572023-12-31135813572022-12-3113581357core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-12-3113581357core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-12-3113581357core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-12-3113581357core:FurnitureFittings2023-12-3113581357core:ComputerEquipment2023-12-3113581357core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-12-3113581357core:FurnitureFittings2022-12-3113581357core:ComputerEquipment2022-12-3113581357core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3113581357core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3113581357core:CurrentFinancialInstruments2023-12-3113581357core:CurrentFinancialInstruments2022-12-3113581357core:ShareCapital2023-12-3113581357core:ShareCapital2022-12-3113581357core:RetainedEarningsAccumulatedLosses2023-12-3113581357core:RetainedEarningsAccumulatedLosses2022-12-3113581357bus:Director12023-01-012023-12-3113581357core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3113581357core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-01-012023-12-3113581357core:LandBuildingscore:LongLeaseholdAssets2023-01-012023-12-3113581357core:FurnitureFittings2023-01-012023-12-3113581357core:ComputerEquipment2023-01-012023-12-31135813572021-10-012022-12-3113581357core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-12-3113581357core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-12-3113581357core:FurnitureFittings2022-12-3113581357core:ComputerEquipment2022-12-31135813572022-12-3113581357core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-01-012023-12-3113581357core:WithinOneYear2023-12-3113581357core:WithinOneYear2022-12-3113581357bus:PrivateLimitedCompanyLtd2023-01-012023-12-3113581357bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3113581357bus:FRS1022023-01-012023-12-3113581357bus:Audited2023-01-012023-12-3113581357bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP