REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 29 May 2024 |
for |
BABY SIENNA LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 29 May 2024 |
for |
BABY SIENNA LTD |
BABY SIENNA LTD (REGISTERED NUMBER: 09583262) |
Contents of the Financial Statements |
for the Year Ended 29 May 2024 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 3 |
BABY SIENNA LTD (REGISTERED NUMBER: 09583262) |
Statement of Financial Position |
29 May 2024 |
29.5.24 | 29.5.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
BABY SIENNA LTD (REGISTERED NUMBER: 09583262) |
Statement of Financial Position - continued |
29 May 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
BABY SIENNA LTD (REGISTERED NUMBER: 09583262) |
Notes to the Financial Statements |
for the Year Ended 29 May 2024 |
1. | STATUTORY INFORMATION |
Baby Sienna Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 09583262 and the registered office address is 21 Gloucester Way, Cannock, Staffordshire, WS11 7YN. |
2. | STATEMENT OF COMPLIANCE |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
The preparation of the financial statements in conformity with generally accepted accounting principles requires the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. Management considers that certain accounting assumptions relating to revenue, taxation and provisions are its critical accounting policies. |
Turnover |
Turnover represents the invoiced amounts of fees for nursery services provided under contracts to the extent that there is a right to consideration and is recorded at the value of consideration due. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
The franchise fee is amortised evenly over its estimated useful life of 10 years in line with the franchise agreement. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Freehold property - No depreciation is provided on land and none on buildings as the residual value is believed to be equal to cost. |
Stocks |
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
BABY SIENNA LTD (REGISTERED NUMBER: 09583262) |
Notes to the Financial Statements - continued |
for the Year Ended 29 May 2024 |
3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Going concern |
The financial statements have been prepared on a going concern basis, despite the net current liability position. |
The creditors include £61,976 deferred income to be released by August 2024 and a Directors Loan Account of £10,197 which will not be drawn until sufficient cash to do so. |
The company is fully supported by the directors, and they have assessed the current trading conditions which are improving. |
In making this assessment the directors have considered the likely trading conditions for a period of twelve months from the date of the approval of these accounts. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
BABY SIENNA LTD (REGISTERED NUMBER: 09583262) |
Notes to the Financial Statements - continued |
for the Year Ended 29 May 2024 |
5. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 30 May 2023 |
and 29 May 2024 |
AMORTISATION |
At 30 May 2023 |
Charge for year |
At 29 May 2024 |
NET BOOK VALUE |
At 29 May 2024 |
At 29 May 2023 |
6. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
COST |
At 30 May 2023 |
and 29 May 2024 |
DEPRECIATION |
At 30 May 2023 |
Charge for year |
At 29 May 2024 |
NET BOOK VALUE |
At 29 May 2024 |
At 29 May 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.5.24 | 29.5.23 |
£ | £ |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.5.24 | 29.5.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
BABY SIENNA LTD (REGISTERED NUMBER: 09583262) |
Notes to the Financial Statements - continued |
for the Year Ended 29 May 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29.5.24 | 29.5.23 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 237,777 | 251,563 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
29.5.24 | 29.5.23 |
£ | £ |
Bank loans |
The bank loans are secured by a fixed and floating charge over property, known as Ashmore Community Centre, Wolverhampton and floating charges covering the property or undertaking of the company. |