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Registered number: 07707020













THE GARDENS CHILDCARE LIMITED
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024


 
THE GARDENS CHILDCARE LIMITED
REGISTERED NUMBER:07707020


BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
20,896
29,229

  
20,896
29,229

Current assets
  

Debtors: amounts falling due within one year
 5 
109,931
1,537,402

Cash at bank and in hand
  
448,045
652,808

  
557,976
2,190,210

Creditors: amounts falling due within one year
 6 
(520,128)
(1,724,089)

Net current assets
  
 
 
37,848
 
 
466,121

Total assets less current liabilities
  
58,744
495,350

  

Net assets
  
58,744
495,350


Capital and reserves
  

Called up share capital 
  
200
200

Share premium account
  
34,942
34,942

Profit and loss account
  
23,602
460,208

  
58,744
495,350

Page 1


 
THE GARDENS CHILDCARE LIMITED
REGISTERED NUMBER:07707020

    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S H M Bokaie
Director

Date: 2 October 2024

The notes on pages 3 to 8 form part of these financial statements.
Page 2


 
THE GARDENS CHILDCARE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

The Gardens Childcare Limited is a limited liability company incorporated and dominciled in England and Wales. The address of its registered office is 62 Standen Road, London, SW18 5TG. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3


 
THE GARDENS CHILDCARE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
25%
straight line
Fixtures and fittings
-
25%
straight line
Office equipment
-
10%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4


 
THE GARDENS CHILDCARE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 31 (2023 - 25).

Page 5


 
THE GARDENS CHILDCARE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Leasehold improvements
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 August 2023
678,408
68,345
20,110
766,863


Additions
-
830
3,565
4,395


Disposals
-
-
(976)
(976)



At 31 July 2024

678,408
69,175
22,699
770,282



Depreciation


At 1 August 2023
666,778
59,719
11,137
737,634


Charge for the year on owned assets
6,776
3,234
1,864
11,874


Disposals
-
-
(122)
(122)



At 31 July 2024

673,554
62,953
12,879
749,386



Net book value



At 31 July 2024
4,854
6,222
9,820
20,896



At 31 July 2023
11,630
8,626
8,973
29,229

Page 6


 
THE GARDENS CHILDCARE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
-
13,503

Amounts owed by group undertakings
-
1,432,470

Other debtors
104,750
85,436

Prepayments and accrued income
1,309
957

Deferred taxation
3,872
5,036

109,931
1,537,402



6.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
-
11,403

Amounts owed to group undertakings
-
1,300,842

Corporation tax
167,561
95,919

Other taxation and social security
23,902
21,506

Other creditors
216,795
183,454

Accruals and deferred income
111,870
110,965

520,128
1,724,089


Page 7


 
THE GARDENS CHILDCARE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Deferred taxation




2024


£






At beginning of year
5,036


Charged to profit or loss
(1,164)



At end of year
3,872

The deferred tax asset is made up as follows:

2024
2023
£
£


Tax losses carried forward
3,872
5,036

3,872
5,036


8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £20,290 (2023 - £96,660).
Contributions totalling £4,595 (2023 - £3,654) were payable to the fund at the balance sheet date and are included in creditors.


9.


Related party transactions

At the balance sheet date The Gardens Solo Limited, a connected company, owed £nil to the company (2023:  £1,432,470). The loan is repayable on demand.
The company owes Gardens Enterprises Limited, a connected company, £nil at the balance sheet date (2023:  £1,300,842). The loan is repayable on demand.
At the balance sheet date the company was owed £54,530 (2023: £53,316) from SHM Bokaie, the company director.  This loan is an interest bearing loan of 2.25%.


10.


Controlling party

The ultimate controlling party is S H M Bokaie who is the controlling party of The Gardens Solo Limited, the company's ultimate parent undertaking. 
 
Page 8