Registered number
07516348
Welcome House Day Nursery Ltd
Filleted Accounts
31 March 2024
Welcome House Day Nursery Ltd
Registered number: 07516348
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 3,531 3,299
Current assets
Debtors 5 7,942 5,725
Cash at bank and in hand 585,042 497,702
592,984 503,427
Creditors: amounts falling due within one year 6 (72,012) (60,506)
Net current assets 520,972 442,921
Total assets less current liabilities 524,503 446,220
Provisions for liabilities (847) (627)
Net assets 523,656 445,593
Capital and reserves
Called up share capital 150 150
Profit and loss account 523,506 445,443
Shareholders' funds 523,656 445,593
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs V H Baldwin
Director
Approved by the board on 17 November 2024
Welcome House Day Nursery Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 13
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 57,500
At 31 March 2024 57,500
Amortisation
At 1 April 2023 57,500
At 31 March 2024 57,500
Net book value
At 31 March 2024 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 17,255
Additions 1,406
At 31 March 2024 18,661
Depreciation
At 1 April 2023 13,956
Charge for the year 1,174
At 31 March 2024 15,130
Net book value
At 31 March 2024 3,531
At 31 March 2023 3,299
5 Debtors 2024 2023
£ £
Trade debtors 5,216 3,223
Other debtors 2,726 2,502
7,942 5,725
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 10,056 10,493
Taxation and social security costs 39,591 23,506
Other creditors 22,365 26,507
72,012 60,506
7 Related party transactions 2024 2023
£ £
Mrs V H Baldwin
Director
Rent paid to Mr & Mrs Baldwin 19,200 19,200
Mrs B E Stanley
Director
Rent paid to Mrs B E Stanley 2,500 1,200
8 Other information
Welcome House Day Nursery Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Demar House, 14 Church Road
East Wittering
Chichester
West Sussex
PO20 8PS
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