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REGISTERED NUMBER: OC310187
Fun4Kids Childcare LLP
Filleted Unaudited Financial Statements
30 November 2023
Fun4Kids Childcare LLP
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
541
642
Current assets
Debtors
6
22,497
24,902
Cash at bank and in hand
65
--------
--------
22,497
24,967
Creditors: amounts falling due within one year
7
12,240
11,481
--------
--------
Net current assets
10,257
13,486
--------
--------
Total assets less current liabilities
10,798
14,128
Creditors: amounts falling due after more than one year
8
10,615
13,945
--------
--------
Net assets
183
183
--------
--------
Represented by:
Loans and other debts due to members
Other amounts
9
183
183
----
----
Members' other interests
Other reserves
----
----
183
183
----
----
Total members' interests
Amounts due from members
(22,153)
(24,581)
Loans and other debts due to members
9
183
183
Members' other interests
--------
--------
(21,970)
(24,398)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
Fun4Kids Childcare LLP
Statement of Financial Position (continued)
30 November 2023
For the year ending 30 November 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the members and authorised for issue on 11 September 2024 , and are signed on their behalf by:
Miss NA Ditchfield
Mr GK Jones
Designated Member
Designated Member
Registered number: OC310187
Fun4Kids Childcare LLP
Notes to the Financial Statements
Year ended 30 November 2023
1.
General information
The LLP is registered in England and Wales. The address of the registered office is The Moorings, Dane Road Industrial Estate, Dane Road, Sale, Cheshire, M33 7BP.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings
-
50% straight line
Equipment
-
50% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 8 (2022: 9 ).
5.
Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 December 2022 and 30 November 2023
11,188
3,899
15,087
--------
-------
--------
Depreciation
At 1 December 2022
10,614
3,831
14,445
Charge for the year
50
51
101
--------
-------
--------
At 30 November 2023
10,664
3,882
14,546
--------
-------
--------
Carrying amount
At 30 November 2023
524
17
541
--------
-------
--------
At 30 November 2022
574
68
642
--------
-------
--------
6.
Debtors
2023
2022
£
£
Other debtors
22,497
24,902
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
7,669
5,963
Social security and other taxes
1,531
1,658
Other creditors
3,040
3,860
--------
--------
12,240
11,481
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
10,615
13,945
--------
--------
9.
Loans and other debts due to members
2023
2022
£
£
Amounts owed to members in respect of profits
183
183
----
----