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Registration number: 07410939

Playhouse Day Nursery (Cheltenham) Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

Playhouse Day Nursery (Cheltenham) Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

Playhouse Day Nursery (Cheltenham) Ltd

Company Information

Director

Mrs R Corbett

Company secretary

Mr L P Corbett

Registered office

287 Hatherley Road
Hatherley
Cheltenham
Gloucestershire
GL51 6HT

Accountants

Holberton & Co
Nortonbury House
37 High Street
Tewkesbury
Gloucestershire
GL20 5BB

 

Playhouse Day Nursery (Cheltenham) Ltd

(Registration number: 07410939)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

39,375

45,000

Tangible assets

5

26,177

25,467

 

65,552

70,467

Current assets

 

Cash at bank and in hand

 

100,233

125,586

Prepayments and accrued income

 

51

51

Creditors: Amounts falling due within one year

(22,339)

(24,144)

Net current assets

 

77,945

101,493

Total assets less current liabilities

 

143,497

171,960

Creditors: Amounts falling due after more than one year

(20,000)

(30,000)

Provisions for liabilities

(5,620)

(5,620)

Accruals and deferred income

 

(4,100)

-

Net assets

 

113,777

136,340

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

113,677

136,240

Shareholders' funds

 

113,777

136,340

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 September 2024
 

 

Playhouse Day Nursery (Cheltenham) Ltd

(Registration number: 07410939)
Abridged Balance Sheet as at 31 December 2023

.........................................
Mrs R Corbett
Director

   
     
 

Playhouse Day Nursery (Cheltenham) Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in Other.

The address of its registered office is:
287 Hatherley Road
Hatherley
Cheltenham
Gloucestershire
GL51 6HT

The principal place of business is:
287 Hatherley Road
Hatherley
Cheltenham
Gloucestershire
GL51 6HT

These financial statements were authorised for issue by the director on 26 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Playhouse Day Nursery (Cheltenham) Ltd

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% Reducing balance

Office equipment

25% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% of cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Playhouse Day Nursery (Cheltenham) Ltd

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 14 (2022 - 10).

 

Playhouse Day Nursery (Cheltenham) Ltd

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

4

Intangible assets

Total
£

Cost or valuation

At 1 January 2023

112,500

At 31 December 2023

112,500

Amortisation

At 1 January 2023

67,500

Amortisation charge

5,625

At 31 December 2023

73,125

Carrying amount

At 31 December 2023

39,375

At 31 December 2022

45,000

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

93,390

93,390

Additions

6,218

6,218

At 31 December 2023

99,608

99,608

Depreciation

At 1 January 2023

67,923

67,923

Charge for the year

5,508

5,508

At 31 December 2023

73,431

73,431

Carrying amount

At 31 December 2023

26,177

26,177

At 31 December 2022

25,467

25,467

6

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

 

Playhouse Day Nursery (Cheltenham) Ltd

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

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Dividends

2023

2022

£

£

Interim dividend of £635.00 (2022 - £400.00) per ordinary share

63,500

40,000

 

 

9

Related party transactions

 

Playhouse Day Nursery (Cheltenham) Ltd

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

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

12,570

12,570