REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Cygnets Day Nurseries (Bournemouth) Ltd |
Trading as |
The Corner House Day Nursery |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Prepayments and accrued income |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
NET ASSETS |
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 |
Non distributable reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
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 |
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 |
AMORTISATION |
At 1 January 2023 |
Amortisation for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
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 |
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 |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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. |