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Registered number: 06888974
Abbotswood Day Nursery Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06888974
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 581,303 569,878
581,303 569,878
CURRENT ASSETS
Debtors 6 195,597 236,005
Cash at bank and in hand 81,846 33,780
277,443 269,785
Creditors: Amounts Falling Due Within One Year 7 (223,544 ) (192,635 )
NET CURRENT ASSETS (LIABILITIES) 53,899 77,150
TOTAL ASSETS LESS CURRENT LIABILITIES 635,202 647,028
Creditors: Amounts Falling Due After More Than One Year 8 (499,089 ) (515,616 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (902 )
NET ASSETS 136,113 130,510
CAPITAL AND RESERVES
Called up share capital 10 120 70
Profit and Loss Account 135,993 130,440
SHAREHOLDERS' FUNDS 136,113 130,510
Page 1
Page 2
For the year ending 31 March 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.
On behalf of the board
Miss Laura Simmons
Director
9th October 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Abbotswood Day Nursery Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06888974 . The registered office is 25 Ringwood Road, Alderholt, Dorset, SP6 3DF.
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 comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of, 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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
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 10% on cost
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:
Leasehold none
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.5. Leasing and Hire Purchase Contracts
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease
obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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2.6. Financial Instruments
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 services performed in the ordinary course of business.
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.
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.
2.7. Taxation
The tax expense for the period comprises current and deferred 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.
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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
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.
2.8. Pensions
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. Average Number of Employees
Average number of employees, including directors, during the year was: 42 (2023: 42)
42 42
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4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 75,000
As at 31 March 2024 75,000
Amortisation
As at 1 April 2023 75,000
As at 31 March 2024 75,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 493,973 75,697 57,246 1,153 628,069
Additions 23,920 - 8,642 - 32,562
As at 31 March 2024 517,893 75,697 65,888 1,153 660,631
Depreciation
As at 1 April 2023 - 9,462 48,513 216 58,191
Provided during the period - 16,559 4,344 234 21,137
As at 31 March 2024 - 26,021 52,857 450 79,328
Net Book Value
As at 31 March 2024 517,893 49,676 13,031 703 581,303
As at 1 April 2023 493,973 66,235 8,733 937 569,878
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 82
Other debtors 195,597 235,923
195,597 236,005
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 7,267 7,267
Bank loans and overdrafts 25,755 25,755
Other creditors 62,571 87,465
Taxation and social security 127,951 72,148
223,544 192,635
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 38,334 45,601
Bank loans 460,755 470,015
499,089 515,616
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 7,267 7,267
Later than one year and not later than five years 38,334 45,601
45,601 52,868
45,601 52,868
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 120 70
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