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Registered number: 13564965
Nursery Rhymes Chesterfield Ltd
Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13564965
31 December 2023 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 122,400 137,700
Tangible Assets 5 11,997 9,600
134,397 147,300
CURRENT ASSETS
Debtors 6 35,605 1,217
Cash at bank and in hand 61,714 63,557
97,319 64,774
Creditors: Amounts Falling Due Within One Year 7 (188,267 ) (175,692 )
NET CURRENT ASSETS (LIABILITIES) (90,948 ) (110,918 )
TOTAL ASSETS LESS CURRENT LIABILITIES 43,449 36,382
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,999 ) (1,824 )
NET ASSETS 40,450 34,558
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 40,350 34,458
SHAREHOLDERS' FUNDS 40,450 34,558
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For the year ending 31 December 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss S Odedra
Director
18 September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Nursery Rhymes Chesterfield Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13564965 . The registered office is First Floor, Sterling House, Outrams Wharf, Little Eaton, Derby, DE21 5EL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of ten years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing balance
2.5. 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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2022: 17)
15 17
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4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 153,000
As at 31 December 2023 153,000
Amortisation
As at 1 January 2023 15,300
Provided during the period 15,300
As at 31 December 2023 30,600
Net Book Value
As at 31 December 2023 122,400
As at 1 January 2023 137,700
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2023 12,000
Additions 3,900
As at 31 December 2023 15,900
Depreciation
As at 1 January 2023 2,400
Provided during the period 1,503
As at 31 December 2023 3,903
Net Book Value
As at 31 December 2023 11,997
As at 1 January 2023 9,600
6. Debtors
31 December 2023 31 December 2022
£ £
Due within one year
Prepayments and accrued income 605 1,217
Other debtors 35,000 -
35,605 1,217
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7. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 December 2022
£ £
Corporation tax 4,726 9,848
Other taxes and social security 5,325 2,777
Net wages 17,680 -
Other creditors 3,671 2,683
Accruals and deferred income 2,530 2,531
Directors' loan accounts 104,432 107,812
Amounts owed to group undertakings 49,903 50,041
188,267 175,692
8. Share Capital
31 December 2023 31 December 2022
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
As at the balance sheet date, the company owed £49,902 (2022: £50,041) to Absolute Healthcare Ltd, a company who is controlled by the same controlling party. This amount was unsecured, interest free with no fixed repayment date.
As at the balance sheet date, the company was owed £35,000 (2022: £Nil) by Sigma Consultancy Solutions Ltd, a company who is controlled by the same controlling party. This amount was unsecured, interest free with no fixed repayment date.
As at the balance sheet date the director, Miss S Odedra, was owed £51,715 (2022: £53,743). and Mr S Singh, was owed £52,717 (2022: £54,069) from the company. The amount was unsecured, interest free with no fixed repayment date.
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