Company Registration No. 05492605 (England and Wales)
THE DAISY CHAIN NURSERY
(EMSWORTH) LIMITED
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
19 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
THE DAISY CHAIN NURSERY (EMSWORTH) LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
THE DAISY CHAIN NURSERY (EMSWORTH) LTD
Company Registration No. 05492605
BALANCE SHEET
AS AT
19 NOVEMBER 2023
19 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
9,691
9,214
Current assets
Debtors
4
10,266
238,707
Cash at bank and in hand
337,861
259,761
348,127
498,468
Creditors: amounts falling due within one year
5
(117,345)
(41,365)
Net current assets
230,782
457,103
Total assets less current liabilities
240,473
466,317
Provisions for liabilities
(231)
(231)
Net assets
240,242
466,086
Capital and reserves
Called up share capital
6
200
220
Profit and loss reserves
240,042
465,866
Total equity
240,242
466,086
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 period ended 19 November 2023 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 members have not required the company to obtain an audit of its financial statements for the period 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 DAISY CHAIN NURSERY (EMSWORTH) LTD
Company Registration No. 05492605
BALANCE SHEET (CONTINUED)
AS AT
19 NOVEMBER 2023
19 November 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 19 November 2024 and are signed on its behalf by:
C Wilson
Director
THE DAISY CHAIN NURSERY (EMSWORTH) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 19 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information
The Daisy Chain Nursery (Emsworth) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1 Pride Point Drive, Pride Park, Derby, DE24 8BX.
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
Going concern
The accounts show the company has a strong financial bases, and therefore, the directors have a reasonable expectation that the company have adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Reporting period
These accounts show the period from 01 January 2023 to 19 November 2023, the accounts cover a period of 10 months and 19 days.
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for primary education services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently 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:
Leasehold land and buildings
over 15 years
Plant and equipment
15% on cost
Fixtures and fittings
25% on cost
Computers
25% on cost
Motor vehicles
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
THE DAISY CHAIN NURSERY (EMSWORTH) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 19 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments
Basic financial assets
Basic financial assets, which include debtors 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measure initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
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.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
THE DAISY CHAIN NURSERY (EMSWORTH) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 19 NOVEMBER 2023
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
2022
Number
Number
Total
34
35
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
13,861
84,552
98,413
Additions
1,871
1,871
At 19 November 2023
13,861
86,423
100,284
Depreciation and impairment
At 1 January 2023
6,057
83,142
89,199
Depreciation charged in the period
535
859
1,394
At 19 November 2023
6,592
84,001
90,593
Carrying amount
At 19 November 2023
7,269
2,422
9,691
At 31 December 2022
7,804
1,410
9,214
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,271
2,270
Other debtors
7,995
4,687
10,266
6,957
2023
2022
Amounts falling due after more than one year:
£
£
Other debtors
231,750
Total debtors
10,266
238,707
THE DAISY CHAIN NURSERY (EMSWORTH) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 19 NOVEMBER 2023
- 6 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,071
Taxation and social security
34,517
25,976
Other creditors
82,828
13,318
117,345
41,365
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of 10p each
2,000
2,000
200
200
Ordinary A Shares of 0p each
-
100
-
10
Ordinary B Shares of 0p each
-
100
-
10
2,000
2,200
200
220
7
Related party transactions
At the balance sheet date the company owed the directors S & K Curtis, £251 (2022 - £251). This loan is interest free and repayable on demand.