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REGISTERED NUMBER: 05597347 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Cygnets Day Nurseries (Bournemouth) Ltd
Trading as
The Corner House Day Nursery

Cygnets Day Nurseries (Bournemouth) Ltd (Registered number: 05597347)
Trading as The Corner House Day Nursery






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Cygnets Day Nurseries (Bournemouth) Ltd
Trading as The Corner House Day Nursery

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs M Cusworth
Ms B Clark
Mr D J Cusworth
Mr O Cusworth





SECRETARY: Mrs M Cusworth





REGISTERED OFFICE: Hartwood House
High Street
Bordon
Hampshire
GU35 OAU





REGISTERED NUMBER: 05597347 (England and Wales)





ACCOUNTANTS: Ward Goodman
4 Cedar Park
Cobham Road
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7SF

Cygnets Day Nurseries (Bournemouth) Ltd (Registered number: 05597347)
Trading as The Corner House Day Nursery

Abridged Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 98
Tangible assets 5 846,152 847,751
846,152 847,849

CURRENT ASSETS
Stocks 250 250
Debtors 6 80,415 -
Prepayments and accrued income 5,467 4,100
Cash at bank and in hand 232,345 234,609
318,477 238,959
CREDITORS
Amounts falling due within one year 87,334 68,534
NET CURRENT ASSETS 231,143 170,425
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,077,295

1,018,274

CREDITORS
Amounts falling due after more than one year (32,690 ) (59,844 )

PROVISIONS FOR LIABILITIES (87,495 ) (87,895 )

ACCRUALS AND DEFERRED INCOME (25,573 ) (34,035 )
NET ASSETS 931,537 836,500

Cygnets Day Nurseries (Bournemouth) Ltd (Registered number: 05597347)
Trading as The Corner House Day Nursery

Abridged Statement of Financial Position - continued
31 December 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable reserves 257,872 257,872
Retained earnings 673,565 578,528
SHAREHOLDERS' FUNDS 931,537 836,500

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





Mrs M Cusworth - Director


Cygnets Day Nurseries (Bournemouth) Ltd (Registered number: 05597347)
Trading as The Corner House Day Nursery

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Cygnets Day Nurseries (Bournemouth) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of fifteen years.

The goodwill was fully written down in the financial year ended 31 December 2023.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost

The directors are satisfied that the market valuation of the freehold land and property has not materially changed from the previous financial year. As a result, the directors have continued in not applying depreciation in this financial year following a review for any impairments so that the property may be depreciated over its useful life in accordance with the accounting policy set out from the beginning.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Cygnets Day Nurseries (Bournemouth) Ltd (Registered number: 05597347)
Trading as The Corner House Day Nursery

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial in such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 17 ) .

Cygnets Day Nurseries (Bournemouth) Ltd (Registered number: 05597347)
Trading as The Corner House Day Nursery

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 140,000
AMORTISATION
At 1 January 2023 139,902
Amortisation for year 98
At 31 December 2023 140,000
NET BOOK VALUE

At 31 December 2023 -
At 31 December 2022 98

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 January 2023 906,513
Additions 2,881
At 31 December 2023 909,394
DEPRECIATION
At 1 January 2023 58,762
Charge for year 4,480
At 31 December 2023 63,242
NET BOOK VALUE
At 31 December 2023 846,152
At 31 December 2022 847,751

Cost or valuation at 31 December 2023 is represented by:

Totals
£   
Valuation in 2006 70,000
Valuation in 2017 200,000
Cost 565,564
835,564

Cygnets Day Nurseries (Bournemouth) Ltd (Registered number: 05597347)
Trading as The Corner House Day Nursery

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

If freehold land and building had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 496,170 496,170

Value of land in freehold land and buildings 840,000 840,000

Freehold land and building were valued on an open market basis on 31 December 2023 by the directors of the company .

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other debtors 20,147 -

7. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 26,997 26,997

Amounts falling due between one and two years:
Bank loans - 1-2 years 26,997 26,997

Amounts falling due between two and five years:
Bank loans - 2-5 years 5,693 32,847

8. PENSION COMMITMENTS

The company operates a money purchase pension scheme on behalf of its directors and employees. The assets of the scheme are held separately in an independently administered fund. At the balance sheet date, unpaid contributions of £1,513 (2022 - £1,430) were due to the fund. These are included within creditors.

9. OTHER FINANCIAL COMMITMENTS

The company had bank loans at the financial year end totalling £59,687 (2022 - £86,841) which are secured on a fixed and floating charge over the assets of the company. The company also had credit card liabilities of £1,920 (2022 - £1,417).

There were no other commitments, contingencies or guarantees made on behalf of directors.

Cygnets Day Nurseries (Bournemouth) Ltd (Registered number: 05597347)
Trading as The Corner House Day Nursery

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. OFF-BALANCE SHEET ARRANGEMENTS

There were no off-balance sheet arrangements at the financial year end.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mrs M Cusworth
Balance outstanding at start of year - -
Amounts advanced 9,745 -
Amounts repaid (50 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,695 -

Mr J Elkes
Balance outstanding at start of year - 510
Amounts advanced 36,105 30
Amounts repaid - (540 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 36,105 -

Ms B Clark
Balance outstanding at start of year - -
Amounts advanced 14,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,000 -

Loans to the directors are unsecured, interest free and repayable on demand.
The loan in relation to J Elkes is due for repayment from the Estate of Mr J Elkes.