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Registration number: 05239734

Blue Sky Day Nursery Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Blue Sky Day Nursery Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Blue Sky Day Nursery Limited

(Registration number: 05239734)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

50,800

63,550

Tangible assets

5

163,009

176,333

 

213,809

239,883

Current assets

 

Debtors

6

174,068

132,838

Cash at bank and in hand

 

335,179

183,494

 

509,247

316,332

Creditors: Amounts falling due within one year

7

(154,881)

(169,788)

Net current assets

 

354,366

146,544

Total assets less current liabilities

 

568,175

386,427

Provisions for liabilities

(25,444)

(25,214)

Net assets

 

542,731

361,213

Capital and reserves

 

Called up share capital

8

20

20

Retained earnings

542,711

361,193

Shareholders' funds

 

542,731

361,213

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Blue Sky Day Nursery Limited

(Registration number: 05239734)
Balance Sheet as at 31 July 2024

Approved and authorised by the Board on 18 November 2024 and signed on its behalf by:
 

.........................................
Mrs V Pooleman
Company secretary and director

 

Blue Sky Day Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Pavers
Main Street
Hayton
York
YO42 1RJ
England

These financial statements were authorised for issue by the Board on 18 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Blue Sky Day Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

15% reducing balance

Motor vehicles

20% reducing balance

Goodwill

Goodwill is amortised over its useful life, which shall not exceed five years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Blue Sky Day Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 93 (2023 - 66).

 

Blue Sky Day Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2023

64,500

64,500

At 31 July 2024

64,500

64,500

Amortisation

At 1 August 2023

950

950

Amortisation charge

12,750

12,750

At 31 July 2024

13,700

13,700

Carrying amount

At 31 July 2024

50,800

50,800

At 31 July 2023

63,550

63,550

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

333,864

10,640

344,504

Additions

10,174

4,795

14,969

At 31 July 2024

344,038

15,435

359,473

Depreciation

At 1 August 2023

161,888

6,283

168,171

Charge for the year

27,040

1,253

28,293

At 31 July 2024

188,928

7,536

196,464

Carrying amount

At 31 July 2024

155,110

7,899

163,009

At 31 July 2023

171,976

4,357

176,333

 

Blue Sky Day Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

27,728

11,634

Amounts owed by related parties

9

89,518

89,518

Other debtors

 

10,029

11,779

Prepayments

 

46,793

19,907

 

174,068

132,838

 

Blue Sky Day Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

34,261

16,365

Taxation and social security

90,907

33,807

Accruals and deferred income

4,360

10,665

Other creditors

25,353

108,951

154,881

169,788

Creditors: amounts falling due after more than one year

2024
£

2023
£

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

10

10

10

10

Ordinary A of £1 each

10

10

10

10

20

20

20

20

9

Related party transactions

Rent is paid to Mrs V Atkin-Pooleman, the director and shareholder, for the Market Weighton trade premises. Rent paid in the current financial year was £77,620 (2023: £49,200).

Mrs V Atkin-Pooleman, the director and shareholder, has a loan to the company that remained in credit throughout the year. Interest has not been charged on the loan.


 

Blue Sky Day Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

107,572

-

Contributions paid to money purchase schemes

1,456

-

109,028

-

Summary of transactions with associates

The company made a loan to Blue Bobbin Ltd during the year. Interest has not ben charged on the loan.
 

Loans to related parties

2024

Associates
£

Total
£

At start of period

89,518

89,518

At end of period

89,518

89,518

2023

Associates
£

Total
£

Advanced

89,518

89,518

At end of period

89,518

89,518