Company registration number 04353880 (England and Wales)
SUNNYBANK CHILDREN'S NURSERY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
SUNNYBANK CHILDREN'S NURSERY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SUNNYBANK CHILDREN'S NURSERY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
18,887
339,671
Current assets
Debtors
4
10,172
2,636
Cash at bank and in hand
85,665
99,295
95,837
101,931
Creditors: amounts falling due within one year
5
(38,627)
(253,133)
Net current assets/(liabilities)
57,210
(151,202)
Total assets less current liabilities
76,097
188,469
Creditors: amounts falling due after more than one year
6
-
0
(112,500)
Provisions for liabilities
(1,696)
(26,242)
Net assets
74,401
49,727
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
73,401
48,727
Total equity
74,401
49,727

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 29 October 2024 and are signed on its behalf by:
Mr E J Jenkins
Director
Company registration number 04353880 (England and Wales)
SUNNYBANK CHILDREN'S NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Sunnybank Children's Nursery Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Stow Park Avenue, Newport, Gwent, NP20 4FH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
1% of cost. Land is not depreciated
Fixtures and fittings
25% reducing balance
Computers
25% reducing balance
Motor vehicles
25% reducing balance
1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

SUNNYBANK CHILDREN'S NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
17
15
SUNNYBANK CHILDREN'S NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2023
407,956
75,969
10,498
13,695
508,118
Additions
-
0
4,101
355
-
0
4,456
Disposals
(407,956)
-
0
-
0
-
0
(407,956)
At 31 March 2024
-
0
80,070
10,853
13,695
104,618
Depreciation and impairment
At 1 April 2023
87,803
62,336
8,464
9,844
168,447
Depreciation charged in the year
-
0
3,608
516
963
5,087
Eliminated in respect of disposals
(87,803)
-
0
-
0
-
0
(87,803)
At 31 March 2024
-
0
65,944
8,980
10,807
85,731
Carrying amount
At 31 March 2024
-
0
14,126
1,873
2,888
18,887
At 31 March 2023
320,153
13,633
2,034
3,851
339,671
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
890
2,636
Other debtors
9,282
-
0
10,172
2,636
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
-
0
15,461
Trade creditors
-
0
49,837
Corporation tax
29,448
20,005
Other taxation and social security
5,079
3,733
Other creditors
4,100
164,097
38,627
253,133
SUNNYBANK CHILDREN'S NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
112,500
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
8
Directors' transactions

Dividends totalling £363,162 (2023 - £75,000) were paid in the year in respect of shares held by the company's directors.

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
-
(123,092)
171,398
(48,306)
-
(123,092)
171,398
(48,306)
-
9
Parent company

From 30 June 2023, Sunnybank Children's Nursery Limited is wholly owned by Expanding Horizons Limited and its registered office is Suite 3, Raglan House, Llantarnam Industrial Park, Cwmbran, Wales, NP44 3AB.

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