Acorah Software Products - Accounts Production 15.0.600 false true true 31 March 2023 1 April 2022 false 30 September 2024 1 April 2023 31 March 2024 31 March 2024 04029930 Lindsay Sartori Simon Hill iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04029930 2023-03-31 04029930 2024-03-31 04029930 2023-04-01 2024-03-31 04029930 frs-core:CurrentFinancialInstruments 2024-03-31 04029930 frs-core:ComputerEquipment 2024-03-31 04029930 frs-core:ComputerEquipment 2023-04-01 2024-03-31 04029930 frs-core:ComputerEquipment 2023-03-31 04029930 frs-core:FurnitureFittings 2024-03-31 04029930 frs-core:FurnitureFittings 2023-04-01 2024-03-31 04029930 frs-core:FurnitureFittings 2023-03-31 04029930 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 04029930 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04029930 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 04029930 frs-core:RevaluationReserve 2023-04-01 2024-03-31 04029930 frs-core:RevaluationReserve 2023-03-31 04029930 frs-core:RevaluationReserve 2024-03-31 04029930 frs-core:ShareCapital 2024-03-31 04029930 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04029930 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04029930 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 04029930 frs-bus:SmallEntities 2023-04-01 2024-03-31 04029930 frs-bus:Audited 2023-04-01 2024-03-31 04029930 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04029930 frs-bus:Director1 2023-04-01 2024-03-31 04029930 frs-bus:Director2 2023-04-01 2024-03-31 04029930 frs-core:CurrentFinancialInstruments 9 2024-03-31 04029930 frs-countries:EnglandWales 2023-04-01 2024-03-31 04029930 2022-03-31 04029930 2023-03-31 04029930 2022-04-01 2023-03-31 04029930 frs-core:CurrentFinancialInstruments 2023-03-31 04029930 frs-core:RevaluationReserve 2023-03-31 04029930 frs-core:ShareCapital 2023-03-31 04029930 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 04029930 frs-core:CurrentFinancialInstruments 9 2023-03-31
Registered number: 04029930
Little Treasures Limited
Financial Statements
For The Year Ended 31 March 2024
Godfrey Wilson Limited
Fifth Floor Mariner House
62 Prince Street
Bristol
BS1 4QD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 04029930
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 934,625 952,352
934,625 952,352
CURRENT ASSETS
Debtors 5 118,698 93,365
Cash at bank and in hand 119,067 282,101
237,765 375,466
Creditors: Amounts Falling Due Within One Year 6 (568,009 ) (706,775 )
NET CURRENT ASSETS (LIABILITIES) (330,244 ) (331,309 )
TOTAL ASSETS LESS CURRENT LIABILITIES 604,381 621,043
NET ASSETS 604,381 621,043
CAPITAL AND RESERVES
Called up share capital 7 4 4
Revaluation reserve 8 279,551 284,758
Profit and Loss Account 324,826 336,281
SHAREHOLDERS' FUNDS 604,381 621,043
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These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Lindsay Sartori
Director
30/09/2024
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Little Treasures Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04029930 . The registered office is Broomhall Grange, Norton Road, Worcester, Worcestershire, WR5 2PD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At the time of signing the financial statements, the Directors have considered the continuing effects of inflationary pressures being felt in the wider economy on the going concern position, and consider that this does indicate that the Company will continue to operate for a period of at least 12 months from the date of signing these financial statements. In making this assessment, the Directors have considered the recent changes in funding being provided to childcare settings, and have considered the support that both its parent charity, Worcester YMCA, and ultimate controlling party, Worcestershire YMCA Limited have confirmed they will provide to the Company.
At the balance sheet date the Company held significant cash balances. The Company has significant reserves, which are sufficient to absorb short-term deficits if required.
The financial forecasts prepared show that the Company will be able to pay its liabilities as they fall due with continued Worcester YMCA and Worcestershire YMCA Limited support. On this basis the directors have prepared these financial statements on a going concern basis.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line
Fixtures & Fittings 15% straight line
Computer Equipment 25% straight line
Revaluation of tangible fixed assets
Individual freehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance sheet date.
Fair values are determined from market-based evidence normally undertaken by professionally qualified valuers. The property was last valued in March 2023, being a directors valuation based upon a range of valuations provided to it by a third party RICS Registered Valuers.
Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 36 (2023: 31)
36 31
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost or Valuation
As at 1 April 2023 950,000 66,314 9,816 1,026,130
As at 31 March 2024 950,000 66,314 9,816 1,026,130
Depreciation
As at 1 April 2023 - 63,962 9,816 73,778
Provided during the period 17,370 357 - 17,727
As at 31 March 2024 17,370 64,319 9,816 91,505
Net Book Value
As at 31 March 2024 932,630 1,995 - 934,625
As at 1 April 2023 950,000 2,352 - 952,352
If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
Land & Property
Freehold
£
Cost 665,242
Accumulated depreciation and impairment 67,338
Carrying amount 597,904
5. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 89,970 64,383
Amounts owed by group undertakings 28,728 28,982
118,698 93,365
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 4,469 14,450
Corporation tax - 17,149
Other taxes and social security 27,107 18,781
Other creditors 3,680 1,737
Deferred income 111,722 -
Accruals 17,379 120,403
Amounts owed to group undertakings 403,652 534,255
568,009 706,775
7. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 4 4
8. Reserves
Revaluation Reserve
£
As at 1 April 2023 284,758
Transfer to profit and loss (5,207 )
As at 31 March 2024 279,551
The revaluation reserve arose upon the revaluation of the freehold property. The property was valued by the directors in March 2023. The open market valuation was deemed to be £950,000.
9. Related Party Transactions
Little Treasures Limited is 100% owned by Worcester YMCA (company number 05056873). At 31 March 2024 Little Treasures Limited owed Worcester YMCA £313,893 (2023: £434,255).
Worcester YMCA is also the 100% owner of First Class Nursery (Kidderminister) Limited (company number 08887253). At 31 March 2024 Little Treasures Limited owed First Class Nursery (Kidderminister) Limited £89,759 (2023: £100,000).
Worcestershire YMCA Limited (company number 01944516) is the 100% owner of Worcester YMCA. At 31 March 2024 Little Treasures Limited was owed by Worcestershire YMCA £28,728 (2023: £28,982). 
10. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
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11. Audit Information
The auditors report on the account of Little Treasures Limited for the year ended 31 March 2024 was unqualified
The auditor's report was signed by Robert Wilson FCA (Senior Statutory Auditor) for and on behalf of Godfrey Wilson Limited , Statutory Auditor
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