Company registration number 02225105 (England and Wales)
WHITEHOUSE DAY NURSERY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
WHITEHOUSE DAY NURSERY LIMITED
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 9
WHITEHOUSE DAY NURSERY LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WHITEHOUSE DAY NURSERY LIMITED FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Whitehouse Day Nursery Limited for the year ended 31 December 2023 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Whitehouse Day Nursery Limited, as a body, in accordance with the terms of our engagement letter dated 26 September 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Whitehouse Day Nursery Limited and state those matters that we have agreed to state to the board of directors of Whitehouse Day Nursery Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Whitehouse Day Nursery Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Whitehouse Day Nursery Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Whitehouse Day Nursery Limited. You consider that Whitehouse Day Nursery Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Whitehouse Day Nursery Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

HSKS Greenhalgh Ltd
26 September 2024
HSKS Greenhalgh Ltd is part of the Dains Group
3rd Floor
Butt Dyke House
33 Park Row
Nottingham
NG1 6EE
WHITEHOUSE DAY NURSERY LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
5
1,802,305
1,857,222
Investment property
6
400,000
400,000
Investments
7
1
1
2,202,306
2,257,223
Current assets
Debtors
8
3,074,886
2,240,595
Cash at bank and in hand
162,254
186,870
3,237,140
2,427,465
Creditors: amounts falling due within one year
9
(791,754)
(660,058)
Net current assets
2,445,386
1,767,407
Total assets less current liabilities
4,647,692
4,024,630
Creditors: amounts falling due after more than one year
10
(1,798,960)
(1,336,340)
Provisions for liabilities
(53,945)
(63,486)
Net assets
2,794,787
2,624,804
Capital and reserves
Called up share capital
337
337
Capital redemption reserve
63
63
Other reserves
276,503
276,503
Profit and loss reserves
2,517,884
2,347,901
Total equity
2,794,787
2,624,804
WHITEHOUSE DAY NURSERY LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 3 -

For the financial year ended 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 25 September 2024 and are signed on its behalf by:
Mrs L P Morgan
Director
Company registration number 02225105 (England and Wales)
WHITEHOUSE DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information

Whitehouse Day Nursery Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 Prime Parkway, Prime Enterprise Park, Derby, DE1 3QB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

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

1.3
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business during the year ended 31 December 2013 was amortised in full in the year of acquisition.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% on cost
Leasehold improvements
2% on cost
Plant and equipment
15% on reducing balance
Fixtures and fittings
15% on reducing balance
Computers
15% on reducing balance
Motor vehicles
25% on reducing balance
Studio equipment
15% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

WHITEHOUSE DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

WHITEHOUSE DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 6 -
1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
161
158
4
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
5,000
Amortisation and impairment
At 1 January 2023 and 31 December 2023
5,000
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
-
0
WHITEHOUSE DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Studio equipment
Total
£
£
£
£
Cost
At 1 January 2023
2,267,820
365,312
4,528
2,637,660
Additions
-
0
8,481
-
0
8,481
At 31 December 2023
2,267,820
373,793
4,528
2,646,141
Depreciation and impairment
At 1 January 2023
519,353
260,408
677
780,438
Depreciation charged in the year
45,357
17,466
575
63,398
At 31 December 2023
564,710
277,874
1,252
843,836
Carrying amount
At 31 December 2023
1,703,110
95,919
3,276
1,802,305
At 31 December 2022
1,748,467
104,904
3,851
1,857,222
6
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
400,000

Investment property is shown at the directors' estimation of market value, based on a professional valuation by Eddisons professional valuers on 20 October 2020 and with regard to similar properties in the area. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2023
2022
£
£
Cost
420,201
420,201
Accumulated depreciation
-
-
Carrying amount
420,201
420,201
7
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
1
1
WHITEHOUSE DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
8
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
861
1,032
Amounts owed by group undertakings
1,517,485
1,615,085
Other debtors
1,556,540
624,478
3,074,886
2,240,595
9
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
272,527
183,716
Trade creditors
59,433
49,367
Corporation tax
97,068
65,037
Other taxation and social security
34,997
29,673
Other creditors
327,729
332,265
791,754
660,058
10
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
1,798,960
1,336,340

The loans are secured by legal charges over the company's freehold and investment properties.

Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable by instalments
-
290,272
11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
88,200
2,520
Lessor
WHITEHOUSE DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
11
Operating lease commitments
(Continued)
- 9 -

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2023
2022
£
£
163,200
8,491
12
Directors' transactions

During the year loans existed between the company and it’s directors. The balance owed to the company at 31 December 2023 was £25,587 (2022: £7,301). Interest was charged on the loans at 2% to 5 April 2023 and 2.25% thereafter.

 

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