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Registration number: 07133192

Reedley Childcare Limited

Unaudited Filleted Financial Statements

for the Year Ended 27 February 2024

 

Reedley Childcare Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 7

 

Reedley Childcare Limited

(Registration number: 07133192)
Balance Sheet as at 27 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

173,478

174,929

Current assets

 

Debtors

5

178,189

126,989

Cash at bank and in hand

 

497

144

 

178,686

127,133

Creditors: Amounts falling due within one year

6

(193,443)

(139,328)

Net current liabilities

 

(14,757)

(12,195)

Total assets less current liabilities

 

158,721

162,734

Creditors: Amounts falling due after more than one year

6

(98,524)

(108,511)

Net assets

 

60,197

54,223

Capital and reserves

 

Called up share capital

101

101

Revaluation reserve

48,790

48,790

Retained earnings

11,306

5,332

Shareholders' funds

 

60,197

54,223

 

Reedley Childcare Limited

(Registration number: 07133192)
Balance Sheet as at 27 February 2024

For the financial year ending 27 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 October 2024 and signed on its behalf by:
 

.........................................
A Kinder
Director

 

Reedley Childcare Limited

Notes to the Financial Statements for the Year Ended 27 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 3
31-33 Kenyon Road
Lomeshaye
Nelson
Lancashire
BB9 5SP
England

These financial statements were authorised for issue by the Board on 16 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 Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

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

Going concern

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, 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.

Tax

The tax expense for the period comprises current 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.

 

Reedley Childcare Limited

Notes to the Financial Statements for the Year Ended 27 February 2024

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.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

15% reducing balance

Land and buildings leasehold

15% reducing balance

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 merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Reedley Childcare Limited

Notes to the Financial Statements for the Year Ended 27 February 2024

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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

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.

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

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 26 (2023 - 26).

 

Reedley Childcare Limited

Notes to the Financial Statements for the Year Ended 27 February 2024

4

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 28 February 2023

169,170

20,521

189,691

At 27 February 2024

169,170

20,521

189,691

Depreciation

At 28 February 2023

3,638

11,124

14,762

Charge for the year

79

1,372

1,451

At 27 February 2024

3,717

12,496

16,213

Carrying amount

At 27 February 2024

165,453

8,025

173,478

At 27 February 2023

165,532

9,397

174,929

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

490

6,340

Amounts owed by group undertakings and undertakings in which the company has a participating interest

177,699

120,649

 

178,189

126,989

 

Reedley Childcare Limited

Notes to the Financial Statements for the Year Ended 27 February 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

43,183

61,334

Trade creditors

 

2,752

2,137

Taxation and social security

 

74,316

44,541

Accruals and deferred income

 

2,900

3,736

Other creditors

 

70,292

27,580

 

193,443

139,328


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £7,782 (2023 - £7,782).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

98,524

108,511


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £71,256 (2023 - £76,326).

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

84,591

54,785

Other borrowings

13,933

53,726

98,524

108,511

Current loans and borrowings

2024
£

2023
£

Bank borrowings

17,782

17,782

Bank overdrafts

8,075

27,592

Other borrowings

17,326

15,960

43,183

61,334