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REGISTERED NUMBER: 11133826 (England and Wales)








THE NURSERY SCHOOL COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






THE NURSERY SCHOOL COMPANY LIMITED (REGISTERED NUMBER: 11133826)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

THE NURSERY SCHOOL COMPANY LIMITED

COMPANY INFORMATION
for the year ended 31 January 2024







DIRECTORS: C Potton
O J Potton





REGISTERED OFFICE: Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
GU3 1LR





REGISTERED NUMBER: 11133826 (England and Wales)





ACCOUNTANTS: Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR

THE NURSERY SCHOOL COMPANY LIMITED (REGISTERED NUMBER: 11133826)

BALANCE SHEET
31 January 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 845,270 835,296

CURRENT ASSETS
Debtors: amounts falling due within one year 5 58,347 22,746
Debtors: amounts falling due after more than
one year

5

628,921

542,313
Cash at bank and in hand 125,922 87,646
813,190 652,705
CREDITORS
Amounts falling due within one year 6 (357,949 ) (174,922 )
NET CURRENT ASSETS 455,241 477,783
TOTAL ASSETS LESS CURRENT LIABILITIES 1,300,511 1,313,079

CREDITORS
Amounts falling due after more than one year 7 (1,568,668 ) (1,594,644 )
NET LIABILITIES (268,157 ) (281,565 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (268,257 ) (281,665 )
(268,157 ) (281,565 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

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.

THE NURSERY SCHOOL COMPANY LIMITED (REGISTERED NUMBER: 11133826)

BALANCE SHEET - continued
31 January 2024


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

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 24 October 2024 and were signed on its behalf by:




O J Potton - Director



C Potton - Director


THE NURSERY SCHOOL COMPANY LIMITED (REGISTERED NUMBER: 11133826)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2024


1. STATUTORY INFORMATION

The Nursery School Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's principal place of business is 12 Manor Road, Worthing, West Sussex, BN11 3RT.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern
The directors consider that the company remains a going concern and are committed to financially supporting the business in the initial establishment and growth phase. The financial statements have therefore, been prepared on a going concern basis.

Turnover
Turnover represents the fair value of consideration receivable from the provision of nursery school daycare and early education in the ordinary course of business.

Turnover comprises of the following:

Turnover from nursery school daycare and early education represents the fees received from children who attend the nursery for full or half day sessions over the course of the child's nursery attendance.
A fee is incurred as soon as a child is registered at the nursery to reflect the up front administrative costs for registering the child.

Turnover from local authorities relates to revenue grants receivable which are accounted for under the accruals model, recognised when the company is entitled to the income and the grant can be reliably estimated.

Other income includes fees received from management charges.

Tangible fixed assets
Tangible fixed assets are stated at their cost price less accumulated depreciation. The asset's residual values, useful lives and depreciation methods are reviewed if there is an indication of significant change since the last reporting date.

Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its estimated useful life, as follows:

Freehold property - 50 years, straight line
Freehold property improvements - 10 years, straight line
Leasehold improvements - over the term of the lease from when first brought into use
Plant & machinery - 5 years, straight line
Fixtures and fittings - 5/10 years, straight line
Computer equipment - 3 years, straight line

On disposal, the difference between net proceeds and the carrying amount of the asset is recognised in the profit and loss account and is included within administrative expenses.

THE NURSERY SCHOOL COMPANY LIMITED (REGISTERED NUMBER: 11133826)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified by the directors as basic or non-basic, following the conditions in FRS102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest rate method. The company has no non-basic financial instruments.

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.

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.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 21 ) .

THE NURSERY SCHOOL COMPANY LIMITED (REGISTERED NUMBER: 11133826)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024


4. TANGIBLE FIXED ASSETS
Freehold
Freehold Leasehold property
property Improvements improvements
£ £ £
COST
At 1 February 2023 681,062 - 116,079
Additions - 21,087 3,720
At 31 January 2024 681,062 21,087 119,799
DEPRECIATION
At 1 February 2023 6,288 - 16,342
Charge for year 3,405 - 11,980
At 31 January 2024 9,693 - 28,322
NET BOOK VALUE
At 31 January 2024 671,369 21,087 91,477
At 31 January 2023 674,774 - 99,737

Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
COST
At 1 February 2023 6,867 64,432 8,222 876,662
Additions 399 13,377 - 38,583
At 31 January 2024 7,266 77,809 8,222 915,245
DEPRECIATION
At 1 February 2023 1,893 12,208 4,635 41,366
Charge for year 1,454 9,436 2,334 28,609
At 31 January 2024 3,347 21,644 6,969 69,975
NET BOOK VALUE
At 31 January 2024 3,919 56,165 1,253 845,270
At 31 January 2023 4,974 52,224 3,587 835,296

5. DEBTORS
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 24,083 -
Other debtors 34,264 22,746
58,347 22,746

THE NURSERY SCHOOL COMPANY LIMITED (REGISTERED NUMBER: 11133826)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024


5. DEBTORS - continued
2024 2023
£ £
Amounts falling due after more than one year:
Other debtors 628,921 542,313

Aggregate amounts 687,268 565,059

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors - 3,037
Taxation and social security 12,710 443
Other creditors 345,239 171,442
357,949 174,922

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Other creditors 1,568,668 1,594,644

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 93,536 8,536
Between one and five years 354,938 23,473
In more than five years 1,700,000 -
2,148,474 32,009

9. RELATED PARTY DISCLOSURES

Included within other debtors due after more than one year is an amount of £628,921 (2023 - £542,313) receivable from The Nursery School Company Holdings Limited which has a director in common. Interest is charged at 7.5% per annum and the loan is repayable in more than one year.

Included within other debtors is an amount of £6,670 (2023 - £1,225 owed to Cortona Property Group) owed from Cortona Property Group Limited which has a director in common. No interest is charged and the loan is repayable on demand.

Included within other creditors is an amount of £1,668,668 (2023 - £1,694,644) payable to the directors of which £100,000 (2023: £100,000) is payable within one year and the balance repayable after one year. Interest has been charged at 7.5% per annum.

THE NURSERY SCHOOL COMPANY LIMITED (REGISTERED NUMBER: 11133826)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024


10. POST BALANCE SHEET EVENTS

On 8 January 2024, the company secured a loan facility of £350,000. Following the year-end, on 7 February 2024 the company drew £250,000 from this loan facility. The loan has a three-year repayment term, with the full amount repayable by 8 January 2027. Interest on the loan is charged at 10% per annum over the three-year period.

The loan is secured by way of a fixed and floating charge over the property held by the company.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
THE NURSERY SCHOOL COMPANY LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Nursery School Company Limited for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet and the related notes 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 in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The Nursery School Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Nursery School Company Limited and state those matters that we have agreed to state to the Board of Directors of The Nursery School Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Nursery School Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Nursery School Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Nursery School Company Limited. You consider that The Nursery School Company Limited 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 financial statements of The Nursery School Company Limited. 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 financial statements.

This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Director, who obtain access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk.






Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR


24 October 2024