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Registered number: 11199827
Leap Frog Nursery Limited
Financial Statements
For The Year Ended 28 February 2024
Cavendish Accountants
Chartered Certified Accountants
CP House
Otterspool Way
Watford
Hertfordshire
WD25 8HR
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 11199827
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,222 4,908
6,222 4,908
CURRENT ASSETS
Debtors 5 154,943 21,066
Cash at bank and in hand 158,454 357,928
313,397 378,994
Creditors: Amounts Falling Due Within One Year 6 (29,437 ) (102,669 )
NET CURRENT ASSETS (LIABILITIES) 283,960 276,325
TOTAL ASSETS LESS CURRENT LIABILITIES 290,182 281,233
Creditors: Amounts Falling Due After More Than One Year 7 (32,462 ) (44,547 )
NET ASSETS 257,720 236,686
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 257,620 236,586
SHAREHOLDERS' FUNDS 257,720 236,686
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For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Miss Amina Bryant
Director
13th September 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Leap Frog Nursery Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11199827 . The registered office is 63 Dennett Road, Croydon, Surrey, CR0 3JD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from from the rendering of childcare services, being direct payments from parents for childcare services and government and local authority grants and funding. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight line
Fixtures & Fittings 25% Straight line
Computer Equipment 25% Reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
...CONTINUED
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2.4. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 24 23
24 23
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 2,148 2,473 2,965 7,586
Additions 707 1,900 782 3,389
As at 28 February 2024 2,855 4,373 3,747 10,975
Depreciation
As at 1 March 2023 834 880 964 2,678
Provided during the period 506 874 695 2,075
As at 28 February 2024 1,340 1,754 1,659 4,753
Net Book Value
As at 28 February 2024 1,515 2,619 2,088 6,222
As at 1 March 2023 1,314 1,593 2,001 4,908
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5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 7,537
Rent deposits 10,625 10,625
Payments to Investec asset finance 4,352 2,904
Directors' loan accounts 139,966 -
154,943 21,066
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) 18,382
Bank loans and overdrafts 6,210 6,210
Corporation tax 21,628 32,181
Other taxes and social security - 1,351
Accruals and deferred income 1,600 41,458
Directors' loan accounts - 3,087
29,437 102,669
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bounce back loan 30,128 35,270
Corporation tax - (10 )
Enterprise Loan 2,334 9,287
32,462 44,547
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 28 February 2024
£ £ £ £ £
Miss Amina Bryant - - - - 139,966
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
2024 2023
£ £
Miss Amina Bryant 25,000 -
Mrs Aisha Bryant-Abdullah 25,000 -
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 50,000 38,000
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