Registered number
04607295
BRIGHTER BEGINNINGS DAY NURSERY LIMITED
Filleted Accounts
31 December 2023
BRIGHTER BEGINNINGS DAY NURSERY LIMITED
Registered number: 04607295
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 101,562 117,812
Tangible assets 4 351,314 362,744
452,876 480,556
Current assets
Cash at bank and in hand 430,266 555,310
Creditors: amounts falling due within one year 5 (213,751) (167,189)
Net current assets 216,515 388,121
Total assets less current liabilities 669,391 868,677
Creditors: amounts falling due after more than one year 6 - (83,627)
Provisions for liabilities (5,196) (5,196)
Net assets 664,195 779,854
Capital and reserves
Called up share capital 202 202
Profit and loss account 663,993 779,652
Shareholders' funds 664,195 779,854
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Race
Director
Approved by the board on 24 September 2024
BRIGHTER BEGINNINGS DAY NURSERY LIMITED
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 246 264
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 325,000
At 31 December 2023 325,000
Amortisation
At 1 January 2023 207,188
Provided during the year 16,250
At 31 December 2023 223,438
Net book value
At 31 December 2023 101,562
At 31 December 2022 117,812
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 188,480 844,630 1,033,110
Additions 18,624 102,709 121,333
At 31 December 2023 207,104 947,339 1,154,443
Depreciation
At 1 January 2023 47,954 622,412 670,366
Charge for the year 4,142 128,621 132,763
At 31 December 2023 52,096 751,033 803,129
Net book value
At 31 December 2023 155,008 196,306 351,314
At 31 December 2022 140,526 222,218 362,744
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 27,881 32,064
Trade creditors 21,886 99
Taxation and social security costs 53,497 36,267
Other creditors 110,487 98,759
213,751 167,189
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - 83,627
7 Other information
BRIGHTER BEGINNINGS DAY NURSERY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Newhall Lodge
Stocks Lane
Over Peover
Knutsford
WA16 9HA
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