REGISTERED NUMBER: |
THE NURSERY SCHOOL COMPANY HOLDINGS LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
REGISTERED NUMBER: |
THE NURSERY SCHOOL COMPANY HOLDINGS LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
THE NURSERY SCHOOL COMPANY HOLDINGS LTD (REGISTERED NUMBER: 13806592) |
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 | 8 |
THE NURSERY SCHOOL COMPANY HOLDINGS LTD |
COMPANY INFORMATION |
for the year ended 31 January 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Ashbourne House |
The Guildway |
Old Portsmouth Road |
Guildford |
Surrey |
GU3 1LR |
THE NURSERY SCHOOL COMPANY HOLDINGS LTD (REGISTERED NUMBER: 13806592) |
BALANCE SHEET |
31 January 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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 HOLDINGS LTD (REGISTERED NUMBER: 13806592) |
BALANCE SHEET - continued |
31 January 2024 |
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 |
THE NURSERY SCHOOL COMPANY HOLDINGS LTD (REGISTERED NUMBER: 13806592) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 January 2024 |
1. | STATUTORY INFORMATION |
The Nursery School Company Holdings Ltd is a |
The company's principal place of business is Charlwood Road, Lowfield Heath, Crawley, RH11 0QA. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
Goodwill |
Goodwill purchased on business combinations and acquisitions is the excess of the cost of the acquisition over the interest in the net fair value of identifiable assets and liabilities acquired, and is capitalised as an asset on the balance sheet and is recognised as an intangible fixed asset. |
Goodwill is amortised over its estimated useful life of 10 years and the amortisation charge is included in administrative expenses. This length of time is presumed to be the maximum useful life of purchased goodwill because it is difficult to make projections beyond this period. Goodwill is reviewed for impairment at the end of the first full financial year following each acquisition and subsequently as and when necessary if circumstances emerge that the carrying value may not be recoverable. |
THE NURSERY SCHOOL COMPANY HOLDINGS LTD (REGISTERED NUMBER: 13806592) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 January 2024 |
2. | ACCOUNTING POLICIES - continued |
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 improvements - 15 years, straight line |
Plant & machinery - 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. |
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 |
THE NURSERY SCHOOL COMPANY HOLDINGS LTD (REGISTERED NUMBER: 13806592) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 January 2024 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 February 2023 |
and 31 January 2024 |
AMORTISATION |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
5. | TANGIBLE FIXED ASSETS |
Improvements | Plant and | Computer |
to property | machinery | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 February 2023 |
Additions |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
THE NURSERY SCHOOL COMPANY HOLDINGS LTD (REGISTERED NUMBER: 13806592) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 January 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
10. | DEFERRED TAX |
Included within other debtors is a deferred tax asset of £4,266 (2023: £20,160). This is made up of capital allowances of £49,280 (2023: £33,840) offset by £53,546 (2023: £54,000) of taxable losses. |
11. | RELATED PARTY DISCLOSURES |
Included within other creditors due after more than one year is an amount of £628,921 (2023: £542,313) payable to The Nursery School Company 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 creditors is an amount of £22,352 (2023: £22,352) payable to Cortona Property Group Limited which has a director in common. No interest is charged and the loan is repayable on demand. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
THE NURSERY SCHOOL COMPANY HOLDINGS LTD |
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 Holdings Ltd 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 Holdings Ltd, 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 Holdings Ltd and state those matters that we have agreed to state to the Board of Directors of The Nursery School Company Holdings Ltd, 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 Holdings Ltd 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 Holdings Ltd 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 Holdings Ltd. You consider that The Nursery School Company Holdings 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 financial statements of The Nursery School Company Holdings 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 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. |
Chartered Accountants |
Ashbourne House |
The Guildway |
Old Portsmouth Road |
Guildford |
Surrey |
GU3 1LR |