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Registered number: 08314671
S & D Childcare Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08314671
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 15,027 16,777
Tangible Assets 5 32,392 32,843
47,419 49,620
CURRENT ASSETS
Stocks 40,000 30,000
Debtors 6 102,752 89,277
Cash at bank and in hand 128 153
142,880 119,430
Creditors: Amounts Falling Due Within One Year 7 (128,269 ) (139,794 )
NET CURRENT ASSETS (LIABILITIES) 14,611 (20,364 )
TOTAL ASSETS LESS CURRENT LIABILITIES 62,030 29,256
Creditors: Amounts Falling Due After More Than One Year 8 (55,832 ) (21,778 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,748 ) (5,734 )
NET ASSETS 450 1,744
CAPITAL AND RESERVES
Called up share capital 2 2
Profit and Loss Account 448 1,742
SHAREHOLDERS' FUNDS 450 1,744
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr David Shapter
Director
16 October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
S & D Childcare Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08314671 . The registered office is 2 Old Oaks Close, Bridgwater, TA6 3UR.
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, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
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 over the life of the lease
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 33% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 33 (2023: 28)
33 28
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 35,000
As at 31 March 2024 35,000
Amortisation
As at 1 April 2023 18,223
Provided during the period 1,750
As at 31 March 2024 19,973
Net Book Value
As at 31 March 2024 15,027
As at 1 April 2023 16,777
5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 23,695 19,800 23,104 7,269 73,868
Additions - 10,000 8,732 1,776 20,508
Disposals (22,380 ) - (15,787 ) (7,269 ) (45,436 )
As at 31 March 2024 1,315 29,800 16,049 1,776 48,940
Depreciation
As at 1 April 2023 17,126 6,497 13,363 4,039 41,025
Provided during the period 117 4,159 1,521 154 5,951
Disposals (16,644 ) - (9,745 ) (4,039 ) (30,428 )
As at 31 March 2024 599 10,656 5,139 154 16,548
Net Book Value
As at 31 March 2024 716 19,144 10,910 1,622 32,392
As at 1 April 2023 6,569 13,303 9,741 3,230 32,843
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6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 2,228 404
Other debtors 8,216 7,110
Corporation tax recoverable assets 32,649 29,901
Net wages - 345
Director's loan account 59,659 51,517
102,752 89,277
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,735 402
Bank loans and overdrafts 68,207 77,423
Corporation tax 14,463 23,949
Other taxes and social security 15,942 14,824
Other creditors 21,650 18,650
Accruals and deferred income 3,272 4,546
128,269 139,794
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 55,832 21,778
55,832 21,778
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 98,220 69,364
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr David Shapter 51,517 83,469 75,327 - 59,659
The above loan is unsecured and repayable on demand. When overdrawn, interest has been charged on the loan at the official HMRC rates.
11. Related Party Transactions
During the period the company maintained existing loans and received new loans from family members of the Director. The loans are interest free and repayable on demand. At the balance sheet date the amount owed by the company was £21,650 (2023 - £18,650).
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