Registered number
08642052
Millbank Nursery Schools Limited
Filleted Accounts
31 August 2024
Millbank Nursery Schools Limited
Registered number: 08642052
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 24,600 26,650
Tangible assets 4 27,150 28,113
51,750 54,763
Current assets
Debtors 5 215,604 211,453
Cash at bank and in hand 74,278 1,861
289,882 213,314
Creditors: amounts falling due within one year 6 (32,106) (17,222)
Net current assets 257,776 196,092
Total assets less current liabilities 309,526 250,855
Creditors: amounts falling due after more than one year 7 (27,265) (27,265)
Net assets 282,261 223,590
Capital and reserves
Called up share capital 200 200
Profit and loss account 282,061 223,390
Shareholders' funds 282,261 223,590
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Nash
Director
Approved by the board on 4 October 2024
Millbank Nursery Schools Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 13
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 41,000
At 31 August 2024 41,000
Amortisation
At 1 September 2023 14,350
Provided during the year 2,050
At 31 August 2024 16,400
Net book value
At 31 August 2024 24,600
At 31 August 2023 26,650
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Land and buildings Equipment Total
£ £ £
Cost
At 1 September 2023 18,813 43,046 61,859
Additions - 3,116 3,116
At 31 August 2024 18,813 46,162 64,975
Depreciation
At 1 September 2023 - 33,746 33,746
Charge for the year - 4,079 4,079
At 31 August 2024 - 37,825 37,825
Net book value
At 31 August 2024 18,813 8,337 27,150
At 31 August 2023 18,813 9,300 28,113
5 Debtors 2024 2023
£ £
Trade debtors (378) 2,471
Other debtors 215,982 208,982
215,604 211,453
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 326 2,834
Amounts owed to group undertakings and undertakings in which the company has a participating interest (540) 695
Taxation and social security costs 30,267 12,148
Other creditors 2,053 1,545
32,106 17,222
7 Creditors: amounts falling due after one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 27,265 27,265
8 Controlling party
The ultimate controlling parties are the directors of the company.
9 Other information
Millbank Nursery Schools Limited is a private company limited by shares and incorporated in England. Its registered office is:
34 Croydon Road
Caterham
Surrey
CR3 6QB
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