Registered number
06020111
Childcare Limited
Filleted Report and Accounts
31 December 2023
Childcare Limited
Registered number: 06020111
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 8,060 11,947
Tangible assets 4 906 1,723
Investments 5 1 1
8,967 13,671
Current assets
Stocks 466,298 466,298
Debtors 6 163,885 151,057
Paypal and braintree 18,105 23,542
Cash at bank and in hand 1,494,142 1,456,524
2,142,430 2,097,421
Creditors: amounts falling due within one year 7 (716,686) (663,014)
Net current assets 1,425,744 1,434,407
Total assets less current liabilities 1,434,711 1,448,078
Provisions for liabilities (2,241) (3,417)
Net assets 1,432,470 1,444,661
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,432,469 1,444,660
Shareholder's funds 1,432,470 1,444,661
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
R Conway
Director
Approved by the board on 25 September 2024
Childcare 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. In accordance with the requirements of FRS102, the residual value is taken as zero. In addition, as the company is unable to make a reliable estimate of the useful life, the amortisation period has been taken to be ten years, over which the asset is being amortised in equal annual instalments.
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:
Plant and machinery over 3 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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 6 6
3 Intangible fixed assets £
Trademarks, domain names and social media
Cost
At 1 January 2023 150,825
At 31 December 2023 150,825
Amortisation
At 1 January 2023 138,878
Provided during the year 3,887
At 31 December 2023 142,765
Net book value
At 31 December 2023 8,060
At 31 December 2022 11,947
Amortisation provided during the year includes £nil (2022 - £428) relating to impairment of a trademark.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 15,446
Additions 648
At 31 December 2023 16,094
Depreciation
At 1 January 2023 13,723
Charge for the year 1,465
At 31 December 2023 15,188
Net book value
At 31 December 2023 906
At 31 December 2022 1,723
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 1
At 31 December 2023 1
The wholly owned subsidiary undertaking which has never traded, continues to be dormant.
6 Debtors 2023 2022
£ £
Trade debtors 87,681 70,633
Other debtors including prepayments and accrued income 76,204 80,424
163,885 151,057
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 137,744 214,053
Corporation tax 4,000 52,085
Other taxes and social security costs 286,731 330,477
Accruals and deferred income 288,211 66,399
716,686 663,014
8 Events after the reporting date
There are no post balance sheet events to be reflected or disclosed within these financial statements.
9 Contingent liabilities
There are no contingent liabilities as at the year end required to be reflected in or disclosed in these financial statements.
10 Other information
Childcare Limited is a private company limited by shares and incorporated in England. Its company number is 06020111 and registered office is at:
167-169 Great Portland Street
5th Floor
London
W1W 5PF
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