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REGISTERED NUMBER: 12486438 (England and Wales)









SPRINGBOARD EDUCATION AND CARE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






SPRINGBOARD EDUCATION AND CARE LTD (REGISTERED NUMBER: 12486438)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPRINGBOARD EDUCATION AND CARE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: R Byng





REGISTERED OFFICE: Churchgate House
3 Church Road
Whitchurch
Cardiff
SOUTH GLAMORGAN
CF14 2DX





REGISTERED NUMBER: 12486438 (England and Wales)

SPRINGBOARD EDUCATION AND CARE LTD (REGISTERED NUMBER: 12486438)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 982,595 603,949

CURRENT ASSETS
Debtors 5 117,375 140,060
Cash at bank and in hand 34,292 318,887
151,667 458,947
CREDITORS
Amounts falling due within one year 6 799,247 756,835
NET CURRENT LIABILITIES (647,580 ) (297,888 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

335,015

306,061

CREDITORS
Amounts falling due after more than one
year

7

(36,204

)

-

PROVISIONS FOR LIABILITIES 9 (8,902 ) (12,054 )
NET ASSETS 289,909 294,007

SPRINGBOARD EDUCATION AND CARE LTD (REGISTERED NUMBER: 12486438)

BALANCE SHEET - continued
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 200 200
Retained earnings 289,709 293,807
SHAREHOLDERS' FUNDS 289,909 294,007

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 director and authorised for issue on 7 November 2024 and were signed by:





R Byng - Director


SPRINGBOARD EDUCATION AND CARE LTD (REGISTERED NUMBER: 12486438)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Springboard Education and Care Ltd 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 presentation currency of the financial statements is the Pound Sterling (£).


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 financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making his assessment, the director has reviewed the balance sheet, the likely future cashflows of the business and has considered the facilities that are available to the company along with his continued support.

At the date of approving the financial statements the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate id revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for the services provided to the customer during the normal course of business. Turnover is recognised at the point when all benefits of the services provided are transferred to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost


SPRINGBOARD EDUCATION AND CARE LTD (REGISTERED NUMBER: 12486438)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

SPRINGBOARD EDUCATION AND CARE LTD (REGISTERED NUMBER: 12486438)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliable estimated.

Where there are a number of similar obligations, the likelihood that an outflow of economic benefits will be required in settlement is determined by considering the class of obligation as a whole. A provision is recognised even if the likelihood of an outflow with respect of any one item in the same class of obligations may be small.

Provisions are not made for future operating losses.

Provisions are measures at the present value of the cost expected to be required to settle the obligation using a pre-tax rate that reflects current market assessment of the time value of money and the risks specific to the obligation. The increase in the provision due to the passing of time is recognised as a cost in the income statement.

SPRINGBOARD EDUCATION AND CARE LTD (REGISTERED NUMBER: 12486438)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".
Financial instruments are recognised 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.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 25 ) .

SPRINGBOARD EDUCATION AND CARE LTD (REGISTERED NUMBER: 12486438)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 543,970 65,703 11,795 6,934 628,402
Additions 348,542 285 46,191 1,881 396,899
Disposals - - (3,495 ) - (3,495 )
At 29 February 2024 892,512 65,988 54,491 8,815 1,021,806
DEPRECIATION
At 1 March 2023 - 19,779 1,777 2,897 24,453
Charge for year - 9,213 4,079 2,525 15,817
Eliminated on disposal - - (1,059 ) - (1,059 )
At 29 February 2024 - 28,992 4,797 5,422 39,211
NET BOOK VALUE
At 29 February 2024 892,512 36,996 49,694 3,393 982,595
At 28 February 2023 543,970 45,924 10,018 4,037 603,949

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 46,191
At 29 February 2024 46,191
DEPRECIATION
Charge for year 2,183
At 29 February 2024 2,183
NET BOOK VALUE
At 29 February 2024 44,008

SPRINGBOARD EDUCATION AND CARE LTD (REGISTERED NUMBER: 12486438)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 116,932 139,647
Other debtors 443 413
117,375 140,060

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 5,343 -
Trade creditors 33,732 5,387
Taxation and social security 73,691 75,218
Other creditors 686,481 676,230
799,247 756,835

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 36,204 -

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 5,343 -
Between one and five years 36,204 -
41,547 -

SPRINGBOARD EDUCATION AND CARE LTD (REGISTERED NUMBER: 12486438)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 4,493 -
Between one and five years 10,110 -
14,603 -

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 8,902 12,054

Deferred
tax
£   
Balance at 1 March 2023 12,054
Decelerated capital allowances (3,152 )
Balance at 29 February 2024 8,902

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
75 Ordinary C £1 75 75
25 Ordinary D £1 25 25
200 200

11. TRANSACTIONS WITH DIRECTORS

Included in creditors, amounts falling due within one year is an amount owed to the director of £8,409 (2023 - £4,705).

All amounts owed to the director are considered interest free and repayable on demand.

SPRINGBOARD EDUCATION AND CARE LTD (REGISTERED NUMBER: 12486438)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

12. RELATED PARTY DISCLOSURES

Included in creditors, amounts falling due within one year is an amount owed to a shareholder of the company of £660,243 (2023 - £660,243).

All amounts owed to the shareholder are considered interest free and repayable on demand.