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Registered number: 13918743
Much Woolton Old School Nursery Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 29 February 2024
Alexander Myerson & Co Limited
Alexander House
61 Rodney Street
Liverpool
Merseyside
L1 9ER
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 13918743
29 February 2024 28 February 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 525,767 525,000
525,767 525,000
CURRENT ASSETS
Cash at bank and in hand 47,383 14,117
47,383 14,117
Creditors: Amounts Falling Due Within One Year (199,723 ) (217,557 )
NET CURRENT ASSETS (LIABILITIES) (152,340 ) (203,440 )
TOTAL ASSETS LESS CURRENT LIABILITIES 373,427 321,560
Creditors: Amounts Falling Due After More Than One Year 5 (316,067 ) (309,884 )
NET ASSETS 57,360 11,676
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 57,260 11,576
SHAREHOLDERS' FUNDS 57,360 11,676
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For the year ending 29 February 2024 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 29 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mrs C Rood
Director
1 October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Much Woolton Old School Nursery Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13918743 . The registered office is 61 Rodney Street, Liverpool, Merseyside, L1 9ER.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. 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 not provided
Fixtures & Fittings 25% RB
Computer Equipment 33% SL
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 7)
8 7
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4. Tangible Assets
Total
£
Cost
As at 1 March 2023 525,000
Additions 1,099
As at 29 February 2024 526,099
Depreciation
As at 1 March 2023 -
Provided during the period 332
As at 29 February 2024 332
Net Book Value
As at 29 February 2024 525,767
As at 1 March 2023 525,000
5. Creditors: amounts falling due after five years
Of the creditors falling due after more than one year the following amounts are due after more than five years.
29 February 2024 28 February 2023
£ £
Bank loans 297,387 257,875
6. Secured Creditors
Of the creditors the following amounts are secured.
29 February 2024 28 February 2023
£ £
Bank loans and overdrafts 320,737 322,886
7. Share Capital
29 February 2024 28 February 2023
£ £
Allotted, Called up and fully paid 100 100
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