Company registration number 07330422 (England and Wales)
LITTLE EXPLORERS DAY CARE NURSERY (ROTHERHAM) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
LITTLE EXPLORERS DAY CARE NURSERY (ROTHERHAM) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
LITTLE EXPLORERS DAY CARE NURSERY (ROTHERHAM) LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
40,765
44,842
Tangible assets
4
418,646
413,480
459,411
458,322
Current assets
Debtors
5
9,657
10,148
Cash at bank and in hand
227,184
146,203
236,841
156,351
Creditors: amounts falling due within one year
6
(104,764)
(106,605)
Net current assets
132,077
49,746
Total assets less current liabilities
591,488
508,068
Creditors: amounts falling due after more than one year
7
(93,380)
(112,426)
Provisions for liabilities
(12,800)
(11,000)
Net assets
485,308
384,642
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
485,307
384,641
Total equity
485,308
384,642
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her 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 year 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.
LITTLE EXPLORERS DAY CARE NURSERY (ROTHERHAM) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 19 November 2024
J L Stuart-Harris
Director
Company registration number 07330422 (England and Wales)
LITTLE EXPLORERS DAY CARE NURSERY (ROTHERHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
Little Explorers Day Care Nursery (Rotherham) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 230 Wales Road, Kiveton Park, Sheffield, S26 5RE. The business address is 230 Wales Road, Kiveton Park, Sheffield S26 5RE.
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
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.
Revenue from the sale of services is recognised when the significant risks and rewards of ownership of the service have been passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the cost incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Freehold property
Nil
Fixtures, fittings & equipment
20% reducing balance
The freehold property is not depreciated. It is the company's policy to maintain the property in a good state of repair and as a consequence the value of the property is not being reduced significantly by the passage of time. Hence in the view of the director any element of depreciation is immaterial.
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.
LITTLE EXPLORERS DAY CARE NURSERY (ROTHERHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.6
Cash and cash equivalents
Cash and cash equivalents 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.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet 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 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.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
LITTLE EXPLORERS DAY CARE NURSERY (ROTHERHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
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.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
24
24
3
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
81,535
Amortisation
At 1 October 2023
36,693
Amortisation charged for the year
4,077
At 30 September 2024
40,770
Carrying amount
At 30 September 2024
40,765
At 30 September 2023
44,842
LITTLE EXPLORERS DAY CARE NURSERY (ROTHERHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
4
Tangible fixed assets
Freehold property
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 October 2023
399,779
50,054
449,833
Additions
8,503
8,503
At 30 September 2024
399,779
58,557
458,336
Depreciation
At 1 October 2023
36,353
36,353
Depreciation charged in the year
3,337
3,337
At 30 September 2024
39,690
39,690
Carrying amount
At 30 September 2024
399,779
18,867
418,646
At 30 September 2023
399,779
13,701
413,480
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
583
1,333
Other debtors
9,074
8,815
9,657
10,148
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
28,841
28,921
Trade creditors
6,920
10,256
Corporation tax
36,400
24,279
Other taxation and social security
5,780
5,666
Directors loan account
15,875
27,504
Accruals and deferred income
10,948
9,979
104,764
106,605
LITTLE EXPLORERS DAY CARE NURSERY (ROTHERHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
6
Creditors: amounts falling due within one year
(Continued)
- 7 -
Included in bank loans are loans which are secured by a fixed and floating charge on the assets of the company and its freehold property.
Included in other creditors is an unsecured, interest free loan of £15,875 (2023: £27,504) from the director which is repayable on demand.
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
93,380
112,426
Included in bank loans are loans which are secured by a fixed and floating charge on the assets of the company and its freehold property.
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1