Clarence House Day Nurseries Ltd 03846861 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the running of children's day nurseries Digita Accounts Production Advanced 6.30.9574.0 true true true 03846861 2023-04-01 2024-03-31 03846861 2024-03-31 03846861 bus:OrdinaryShareClass1 2024-03-31 03846861 core:CurrentFinancialInstruments 2024-03-31 03846861 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 03846861 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 03846861 core:FurnitureFittingsToolsEquipment 2024-03-31 03846861 core:LandBuildings 2024-03-31 03846861 core:OtherPropertyPlantEquipment 2024-03-31 03846861 core:ParentEntities 2024-03-31 03846861 bus:SmallEntities 2023-04-01 2024-03-31 03846861 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03846861 bus:FilletedAccounts 2023-04-01 2024-03-31 03846861 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03846861 bus:RegisteredOffice 2023-04-01 2024-03-31 03846861 bus:Director2 2023-04-01 2024-03-31 03846861 bus:Director3 2023-04-01 2024-03-31 03846861 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 03846861 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03846861 core:Goodwill 2023-04-01 2024-03-31 03846861 core:Buildings 2023-04-01 2024-03-31 03846861 core:FurnitureFittings 2023-04-01 2024-03-31 03846861 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 03846861 core:LandBuildings 2023-04-01 2024-03-31 03846861 core:LeaseholdImprovements 2023-04-01 2024-03-31 03846861 core:MotorVehicles 2023-04-01 2024-03-31 03846861 core:OfficeEquipment 2023-04-01 2024-03-31 03846861 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 03846861 core:PlantMachinery 2023-04-01 2024-03-31 03846861 core:ParentEntities 2023-04-01 2024-03-31 03846861 core:ParentEntities core:RenderingOrReceivingServices 2023-04-01 2024-03-31 03846861 1 2023-04-01 2024-03-31 03846861 countries:England 2023-04-01 2024-03-31 03846861 2023-03-31 03846861 core:FurnitureFittingsToolsEquipment 2023-03-31 03846861 core:LandBuildings 2023-03-31 03846861 core:OtherPropertyPlantEquipment 2023-03-31 03846861 core:ParentEntities 2023-03-31 03846861 2022-04-01 2023-03-31 03846861 2023-03-31 03846861 bus:OrdinaryShareClass1 2023-03-31 03846861 core:CurrentFinancialInstruments 2023-03-31 03846861 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03846861 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 03846861 core:FurnitureFittingsToolsEquipment 2023-03-31 03846861 core:LandBuildings 2023-03-31 03846861 core:OtherPropertyPlantEquipment 2023-03-31 03846861 core:ParentEntities 2023-03-31 03846861 core:ParentEntities 2022-04-01 2023-03-31 03846861 core:ParentEntities core:RenderingOrReceivingServices 2022-04-01 2023-03-31 03846861 2022-03-31 03846861 core:ParentEntities 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03846861

Clarence House Day Nurseries Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

Clarence House Day Nurseries Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 11

 

Clarence House Day Nurseries Ltd

Company Information

Directors

Mr MA Wilsher

Mrs E Wilsher

Registered office

19 The Causeway
Godmanchester
Huntingdon
Cambridgeshire
PE29 2HA

Accountants

Mr John Parker
AIMS Accountants for Business
30 Chestnut Close
Brampton
Huntingdon
Cambridgeshire
United Kingdom
PE28 4TP

 

Clarence House Day Nurseries Ltd

(Registration number: 03846861)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,029,357

2,055,110

Current assets

 

Stocks

5

-

1,758

Debtors

6

16,187

21,737

Cash at bank and in hand

 

211,980

50,903

 

228,167

74,398

Prepayments and accrued income

 

8,137

-

Creditors: Amounts falling due within one year

7.1

(815,572)

(586,039)

Net current liabilities

 

(579,268)

(511,641)

Total assets less current liabilities

 

1,450,089

1,543,469

Creditors: Amounts falling due after more than one year

7.2

(2,043,265)

(1,813,924)

Accruals and deferred income

 

(71,000)

(40,100)

Net liabilities

 

(664,176)

(310,555)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(664,276)

(310,655)

Shareholders' deficit

 

(664,176)

(310,555)

 

Clarence House Day Nurseries Ltd

(Registration number: 03846861)
Abridged Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 November 2024 and signed on its behalf by:
 

.........................................
Mr MA Wilsher
Director

 

Clarence House Day Nurseries Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
19 The Causeway
Godmanchester
Huntingdon
Cambridgeshire
PE29 2HA

These financial statements were authorised for issue by the Board on 28 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Clarence House Day Nurseries Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Changes in accounting policy

The following have been applied for the first time from 1 April 2023 and have had an effect on the financial statements:

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold buildings

No depreciation

Short leasehold property

10% straight line

 

Clarence House Day Nurseries Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Vehicles

25% straight line basis

Office equipment

25% straight line basis

Fixtures & fittings

15% reducing balance basis

Plant & machinery

20% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Written of in period of acquisition

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Clarence House Day Nurseries Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Clarence House Day Nurseries Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 135 (2023 - 101).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

2,075,007

147,208

2,748

2,224,963

Additions

-

591

4,694

5,285

At 31 March 2024

2,075,007

147,799

7,442

2,230,248

Depreciation

At 1 April 2023

82,190

86,674

989

169,853

Charge for the year

20,548

9,199

1,291

31,038

At 31 March 2024

102,738

95,873

2,280

200,891

Carrying amount

At 31 March 2024

1,972,269

51,926

5,162

2,029,357

At 31 March 2023

1,992,817

60,534

1,759

2,055,110

Included within the net book value of land and buildings above is £1,869,531 (2023 - £1,869,531) in respect of freehold land and buildings and £102,738 (2023 - £123,285) in respect of short leasehold land and buildings.
 

 

Clarence House Day Nurseries Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

5

Stocks

2024
£

2023
£

Merchandise

-

1,758

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Creditors

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £100,500 (2023 - £100,500). These loans are secured on the company properties.

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £512,891 (2023 - £581,005). These loans are secured on the company properties.

Creditors include bank loans repayable by instalments of £185,422 (2023 - £208,306 due after more than five years. These loans are secured on the company properties.

Creditors include group loans not repayable by instalments of £1,529,215 (2023 - £1,232,919 due after more than five years.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

 

Clarence House Day Nurseries Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

The total amount of financial commitments not included in the balance sheet is £228,636 (2023 - £258,512). This is for the rents of properties on leases which are of a long term nature. Those properties which do not have an agreed lease are not included.

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

850,000

350,000

Summary of transactions with parent

The company has provided long term finance and this does not carry any interest.
 

Expenditure with and payables to related parties

2024

Parent
£

Rendering of services

84,000

2023

Parent
£

Rendering of services

84,000

Loans from related parties

2024

Parent
£

Total
£

At start of period

1,232,919

1,232,919

Advanced

604,000

604,000

Repaid

(307,704)

(307,704)

At end of period

1,529,215

1,529,215

2023

Parent
£

Total
£

At start of period

736,558

736,558

Advanced

728,146

728,146

Repaid

(231,785)

(231,785)

At end of period

1,232,919

1,232,919

 

Clarence House Day Nurseries Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

11

Parent and ultimate parent undertaking

The company's immediate parent is Wayfarer Investments International Ltd , incorporated in Guernsey.

 The ultimate controlling party is The Wayfarer Trust.