We Care For Children Edinburgh LTD. SC529716 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is that of childcare nursery services. Digita Accounts Production Advanced 6.30.9574.0 true true SC529716 2022-11-01 2023-10-31 SC529716 2023-10-31 SC529716 bus:OrdinaryShareClass1 2023-10-31 SC529716 core:CurrentFinancialInstruments 2023-10-31 SC529716 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 SC529716 core:Goodwill 2023-10-31 SC529716 bus:SmallEntities 2022-11-01 2023-10-31 SC529716 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 SC529716 bus:FilletedAccounts 2022-11-01 2023-10-31 SC529716 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 SC529716 bus:RegisteredOffice 2022-11-01 2023-10-31 SC529716 bus:Director1 2022-11-01 2023-10-31 SC529716 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 SC529716 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 SC529716 bus:Agent1 2022-11-01 2023-10-31 SC529716 core:Goodwill 2022-11-01 2023-10-31 SC529716 core:OtherRelatedParties 2022-11-01 2023-10-31 SC529716 countries:Scotland 2022-11-01 2023-10-31 SC529716 2022-10-31 SC529716 core:Goodwill 2022-10-31 SC529716 2021-11-01 2022-10-31 SC529716 2022-10-31 SC529716 bus:OrdinaryShareClass1 2022-10-31 SC529716 core:CurrentFinancialInstruments 2022-10-31 SC529716 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 SC529716 core:Goodwill 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC529716

We Care For Children Edinburgh LTD.

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

We Care For Children Edinburgh LTD.

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

We Care For Children Edinburgh LTD.

Company Information

Director

Mrs S Fairley

Registered office

 

Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

Accountants

Glen Drummond Ltd
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
We Care For Children Edinburgh LTD.
for the Year Ended 31 October 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of We Care For Children Edinburgh LTD. for the year ended 31 October 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of We Care For Children Edinburgh LTD., as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of We Care For Children Edinburgh LTD. and state those matters that we have agreed to state to the Board of Directors of We Care For Children Edinburgh LTD., as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than We Care For Children Edinburgh LTD. and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that We Care For Children Edinburgh LTD. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of We Care For Children Edinburgh LTD.. You consider that We Care For Children Edinburgh LTD. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of We Care For Children Edinburgh LTD.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Glen Drummond Ltd
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

10 October 2024

 

We Care For Children Edinburgh LTD.

(Registration number: SC529716)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

17,500

21,000

Current assets

 

Debtors

5

133,231

168,093

Creditors: Amounts falling due within one year

6

(45,193)

(37,555)

Net current assets

 

88,038

130,538

Net assets

 

105,538

151,538

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

105,438

151,438

Shareholders' funds

 

105,538

151,538

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 October 2024
 

 

We Care For Children Edinburgh LTD.

(Registration number: SC529716)
Balance Sheet as at 31 October 2023

.........................................
Mrs S Fairley
Director

 

We Care For Children Edinburgh LTD.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

These financial statements were authorised for issue by the director on 10 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration derived from that of childcare nursery services. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

 

We Care For Children Edinburgh LTD.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

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

Straight line over 10 years

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

 

We Care For Children Edinburgh LTD.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 9 (2022 - 11).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2022

35,000

35,000

At 31 October 2023

35,000

35,000

Amortisation

At 1 November 2022

14,000

14,000

Amortisation charge

3,500

3,500

At 31 October 2023

17,500

17,500

Carrying amount

At 31 October 2023

17,500

17,500

At 31 October 2022

21,000

21,000

5

Debtors

2023
£

2022
£

Trade debtors

12,667

18,753

Prepayments

1,667

-

Other debtors

118,897

149,340

133,231

168,093

 

We Care For Children Edinburgh LTD.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

717

12,793

Accruals and deferred income

42,608

24,027

Other creditors

1,868

735

45,193

37,555

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Related party transactions


 

The company operates a loan account with We Care For Children Limited, a company controlled by Mrs S Fairley.

During the year, We Care For Children Limited repaid loans totalling £42,855 to the company. At the year end, the balance due from We Care For Children Limited was £102,785 (2022 - £145,640). This loan is unsecured, interest free and has no fixed repayment terms.