REGISTERED NUMBER: |
Financial Statements for the Year Ended 20 December 2023 |
for |
Top Class Nursery Holdings Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 20 December 2023 |
for |
Top Class Nursery Holdings Limited |
Top Class Nursery Holdings Limited (Registered number: 07441333) |
Contents of the Financial Statements |
for the Year Ended 20 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Top Class Nursery Holdings Limited |
Company Information |
for the Year Ended 20 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
116 Duke Street |
Liverpool |
Merseyside |
L1 5JW |
Top Class Nursery Holdings Limited (Registered number: 07441333) |
Balance Sheet |
20 December 2023 |
20.12.23 | 20.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Top Class Nursery Holdings Limited (Registered number: 07441333) |
Balance Sheet - continued |
20 December 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Top Class Nursery Holdings Limited (Registered number: 07441333) |
Notes to the Financial Statements |
for the Year Ended 20 December 2023 |
1. | STATUTORY INFORMATION |
Top Class Nursery Holdings Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable on net rental income, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised as the rents become due. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
The investment property is measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss in the period in which they arise. |
Deferred tax is charged to the profit and loss if the fair value of investment properties is higher than cost. |
Financial instruments |
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Top Class Nursery Holdings Limited (Registered number: 07441333) |
Notes to the Financial Statements - continued |
for the Year Ended 20 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST OR VALUATION |
At 21 December 2022 |
and 20 December 2023 |
NET BOOK VALUE |
At 20 December 2023 |
At 20 December 2022 |
Cost or valuation at 20 December 2023 is represented by: |
Shares in |
group |
undertakings |
£ |
Valuation in 2016 | 870,000 |
Cost | 90,000 |
960,000 |
Top Class Nursery Holdings Limited (Registered number: 07441333) |
Notes to the Financial Statements - continued |
for the Year Ended 20 December 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 21 December 2022 |
Additions |
Revaluations | 35,414 |
At 20 December 2023 |
NET BOOK VALUE |
At 20 December 2023 |
At 20 December 2022 |
Fair value at 20 December 2023 is represented by: |
£ |
Valuation in 2016 | 454,261 |
Valuation in 2023 | 35,414 |
Cost | 670,325 |
1,160,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
20.12.23 | 20.12.22 |
£ | £ |
Amounts owed by associates |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
20.12.23 | 20.12.22 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
20.12.23 | 20.12.22 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 277,102 | 302,983 |
Top Class Nursery Holdings Limited (Registered number: 07441333) |
Notes to the Financial Statements - continued |
for the Year Ended 20 December 2023 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
20.12.23 | 20.12.22 |
£ | £ |
Bank loans | 426,306 | 452,188 |
A fixed charge over the assets of the company is held by Assetz Capital Trust Company Limited. |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The directors operate a current account to which transactions of a private nature are posted. As at the year end an amount of £425,019, (2022 £377,262) and £76,585, (2022 £65,975) was included in other debtors, in respect of Mrs E Ludden and Mr T Ludden. |
Interest has been charged at 2.25%. |
11. | RELATED PARTY DISCLOSURES |
Included within other creditors is an amount of £137,998, (2022 £110,616) owed to Top Class Day Nursery Limited, a company under the control of Mrs E Ludden. |
Included within other debtors is an amount of £17,737, (2022 £,16,038), owing from APFS Limited, a company under the control of Mr T Ludden. |
Included within other debtors is an amount of £4,700, (2022 £3,500), owing from 44 Olive Lane Management Company Limited, a company under the control of Mr T Ludden. |
All loans are interest free and repayable on demand. |