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Registered number: 3396449
Stepping Stones Nurseries Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 3396449
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 3,007,664 2,937,852
3,007,664 2,937,852
CURRENT ASSETS
Debtors 6 104,774 62,406
Cash at bank and in hand 1,430,214 945,049
1,534,988 1,007,455
Creditors: Amounts Falling Due Within One Year 7 (2,044,421 ) (1,676,374 )
NET CURRENT ASSETS (LIABILITIES) (509,433 ) (668,919 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,498,231 2,268,933
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (32,683 ) (23,443 )
NET ASSETS 2,465,548 2,245,490
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 2,465,546 2,245,488
SHAREHOLDERS' FUNDS 2,465,548 2,245,490
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Neil Ritchie
Director
28/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Stepping Stones Nurseries Limited is a private company, limited by shares, incorporated in England & Wales, registered number 3396449 . The registered office is Lingley Green Avenue, Great Sankey, Warrington, WA5 3UZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of three years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on cost
Leasehold over the life of the lease
Plant & Machinery 25% on cost
Motor Vehicles 25% on cost
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 158 (2023: 142)
158 142
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 647,910
As at 31 May 2024 647,910
Amortisation
As at 1 June 2023 647,910
As at 31 May 2024 647,910
Net Book Value
As at 31 May 2024 -
As at 1 June 2023 -
5. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles Total
£ £ £ £ £
Cost
As at 1 June 2023 523,574 2,624,484 335,905 5,987 3,489,950
Additions - 81,262 14,166 - 95,428
As at 31 May 2024 523,574 2,705,746 350,071 5,987 3,585,378
Depreciation
As at 1 June 2023 162,961 47,246 335,905 5,986 552,098
Provided during the period 10,471 11,603 3,542 - 25,616
As at 31 May 2024 173,432 58,849 339,447 5,986 577,714
Net Book Value
As at 31 May 2024 350,142 2,646,897 10,624 1 3,007,664
As at 1 June 2023 360,613 2,577,238 - 1 2,937,852
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 104,774 62,406
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 546,943 374,909
Corporation tax 117,445 32,185
Other taxes and social security 50,533 44,467
Accruals and deferred income 788,076 696,389
Amounts owed to group undertakings 541,424 528,424
2,044,421 1,676,374
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Accelerated capital allowances 32,683 23,443
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Other Commitments
At the end of the period the company had minimum lease payments under non-cancellable leases as follows:
2024 2023
£ £
Not later than one year 39,000 43,000
Later than one year and not later than five years 93,500 101,833
132,500 144,833
Page 5