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REGISTERED NUMBER: OC393735 (England and Wales)









Unaudited Financial Statements

for the Period

1 September 2023 to 31 March 2024

for

Children's Corner Childcare LLP

Children's Corner Childcare LLP (Registered number: OC393735)






Contents of the Financial Statements
for the Period 1 September 2023 to 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Children's Corner Childcare LLP (Registered number: OC393735)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 144,784 171,080

CURRENT ASSETS
Stocks 5,690 5,415
Debtors 5 254,235 233,281
Cash at bank and in hand 103,620 129,272
363,545 367,968
CREDITORS
Amounts falling due within one year 6 367,538 344,353
NET CURRENT (LIABILITIES)/ASSETS (3,993 ) 23,615
TOTAL ASSETS LESS CURRENT
LIABILITIES

140,791

194,695

CREDITORS
Amounts falling due after more than one
year

7

139,821

193,346
NET ASSETS ATTRIBUTABLE TO
MEMBERS

970

1,349

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

970

1,349

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 970 1,349
Amounts due from members 5 (243,840 ) (209,487 )
(242,870 ) (208,138 )

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the period ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Children's Corner Childcare LLP (Registered number: OC393735)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 6 September 2024 and were signed by:





L A Dawson - Designated member

Children's Corner Childcare LLP (Registered number: OC393735)

Notes to the Financial Statements
for the Period 1 September 2023 to 31 March 2024

1. STATUTORY INFORMATION

Children's Corner Childcare LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC393735

Registered office: 28 Broomfield
Adel
Leeds
West Yorkshire
LS16 6AF

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. 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 have been prepared under the historical cost convention.

Going concern
The financial statements show that at the balance sheet date the LLP had net liabilities. However, the members believe that it is appropriate to prepare the accounts on a going concern basis, as they are willing and able to financially support the LLP in meeting its obligations as they fall due.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and value added tax.

Turnover from the supply of services represents the value of services provided to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Tangible fixed assets
Tangible fixed assets are stated at purchase cost, net of depreciation.

Depreciation is provided on all tangible assets at rates calculated to write off the cost less estimated residual value of each asset on a straight line basis over its expected useful life as follows:

Improvements to property- 10% on cost
Fixtures and fittings- 10% and 33% on cost and 15% on reducing balance
Motor vehicles- 25% on reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Stocks
Stock and work in progress are valued at the lower of cost and new realisable value, after due regard for obsolete and slow moving stocks.

Children's Corner Childcare LLP (Registered number: OC393735)

Notes to the Financial Statements - continued
for the Period 1 September 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

Where material, the cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Financial instruments
Financial assets and financial liabilities are recognised when the LLP becomes a party to the contractual provisions of the instrument.

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 LLP after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - other debtors, cash and bank balances, trade creditors, other creditors and bank loans.

Other debtors, cash and bank balances, trade creditors and other creditors are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest and subsequently measured at amortised cost using the effective interest method.

Children's Corner Childcare LLP (Registered number: OC393735)

Notes to the Financial Statements - continued
for the Period 1 September 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets
An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had impairment not been recognised.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 96 (2023 - 105 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 March 2024 366,884
DEPRECIATION
At 1 September 2023 195,804
Charge for period 26,296
At 31 March 2024 222,100
NET BOOK VALUE
At 31 March 2024 144,784
At 31 August 2023 171,080

The net book value of tangible fixed assets includes £ 101,863 (2023 - £ 119,254 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 254,235 233,281

Children's Corner Childcare LLP (Registered number: OC393735)

Notes to the Financial Statements - continued
for the Period 1 September 2023 to 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 66,915 66,015
Hire purchase contracts 24,241 24,241
Trade creditors 1,816 20,697
Taxation and social security 15,537 18,242
Other creditors 259,029 215,158
367,538 344,353

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 52,259 91,644
Hire purchase contracts 87,562 101,702
139,821 193,346

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 119,174 157,659
Hire purchase contracts 111,803 125,943
230,977 283,602

Hire purchase contracts are secured against the assets to which they relate.

Bank loans are secured over the assets of the LLP by way of debenture.

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members' (other than members' capital classified as debt) would rank pari passu in relation to other creditors in the event of a winding-up.