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Company registration number: 4291110
Claverdon Village Nursery Ltd
Unaudited filleted financial statements
31 March 2024
Claverdon Village Nursery Ltd
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 56,392 63,343
_______ _______
56,392 63,343
Current assets
Stocks 800 600
Debtors 6 191,691 131,704
Cash at bank and in hand 50,548 37,340
_______ _______
243,039 169,644
Creditors: amounts falling due
within one year 7 ( 90,712) ( 53,068)
_______ _______
Net current assets 152,327 116,576
_______ _______
Total assets less current liabilities 208,719 179,919
Creditors: amounts falling due
after more than one year 8 ( 42,900) ( 46,200)
Provisions for liabilities ( 1,960) ( 2,523)
_______ _______
Net assets 163,859 131,196
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 162,859 130,196
_______ _______
Shareholders funds 163,859 131,196
_______ _______
For the 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 23 September 2024 , and are signed on behalf of the board by:
A Hemming
Director
Company registration number: 4291110
Claverdon Village Nursery Ltd
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Huxley House, 11 William Street, Redditch, B97 4AJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis unless otherwise specified within these accounting policies.
Turnover
Turnover is recognised at the fair value of childcare services provided during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property - 4 % straight line
Fittings fixtures and equipment - 15 % straight line
Computer equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are valued at cost.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
Trade debtors
Trade debtors are measured at transaction value, less any impairment for doubtful debts.
Trade creditors
Trade creditors are measured at transaction value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 26 (2023: 25 ).
5. Tangible assets
Long leasehold property Short leasehold property Fixtures, fittings and equipment Computer equipment Total
£ £ £ £ £
Cost
At 1 April 2023 117,438 21,408 36,038 21,111 195,995
Additions - - 1,697 - 1,697
_______ _______ _______ _______ _______
At 31 March 2024 117,438 21,408 37,735 21,111 197,692
_______ _______ _______ _______ _______
Depreciation
At 1 April 2023 64,187 21,407 30,721 16,337 132,652
Charge for the year 4,698 - 1,549 2,401 8,648
_______ _______ _______ _______ _______
At 31 March 2024 68,885 21,407 32,270 18,738 141,300
_______ _______ _______ _______ _______
Carrying amount
At 31 March 2024 48,553 1 5,465 2,373 56,392
_______ _______ _______ _______ _______
At 31 March 2023 53,251 1 5,317 4,774 63,343
_______ _______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 2,584 5,000
Amounts owed by group undertakings and undertakings in which the company has a participating interest 47,065 22,726
Other debtors 142,042 103,978
_______ _______
191,691 131,704
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 1,820 2,437
Amounts owed to group undertakings and undertakings in which the company has a participating interest 26,193 -
Social security and other taxes 35,875 37,304
Other creditors 26,824 13,327
_______ _______
90,712 53,068
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 42,900 46,200
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company. The advances are interest free and repayable on demand:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
DLA 65,540 28,932 94,472
DLA 6,000 - 6,000
_______ _______ _______
71,540 28,932 100,472
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
DLA 56,165 9,375 65,540
DLA 6,000 - 6,000
_______ _______ _______
62,165 9,375 71,540
_______ _______ _______
10. Controlling party
The company is a subsidiary of Claverdon Montessori Nursery Ltd. The Registered Office address is: Huxley House, 11 William Street, Redditch B97 4AJ.