Company Registration No. 07816452 (England and Wales)
Willows Childcare Limited
Unaudited accounts
for the year ended 31 March 2024
Willows Childcare Limited
Unaudited accounts
Contents
Willows Childcare Limited
Statement of financial position
as at 31 March 2024
Tangible assets
321,236
337,930
Cash at bank and in hand
1,360
9,449
Creditors: amounts falling due within one year
(43,711)
(52,168)
Net current liabilities
(20,586)
(3,345)
Total assets less current liabilities
300,650
334,585
Creditors: amounts falling due after more than one year
(18,372)
(31,801)
Provisions for liabilities
Deferred tax
(2,321)
(2,739)
Net assets
279,957
300,045
Called up share capital
300
300
Revaluation reserve
158,518
165,504
Profit and loss account
121,139
134,241
Shareholders' funds
279,957
300,045
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. 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2024 and were signed on its behalf by
Victoria Harman
Director
Company Registration No. 07816452
Willows Childcare Limited
Notes to the Accounts
for the year ended 31 March 2024
Willows Childcare Limited is a private company, limited by shares, registered in England and Wales, registration number 07816452. The registered office is Office 5B Block 2 Barrowby Barns, Northgate, West Pinchbeck, Spalding, Lincolnshire, PE11 3TB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and other sales taxes.
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
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
straight line over 25 years
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Willows Childcare Limited
Notes to the Accounts
for the year ended 31 March 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost.
The financial statements have been prepared on the going concern basis.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
357,400
18,365
14,196
27,690
417,651
Disposals
-
(1,241)
-
-
(1,241)
At 31 March 2024
357,400
17,799
14,196
27,840
417,235
At 1 April 2023
35,990
12,907
12,401
18,423
79,721
Charge for the year
14,296
842
449
1,413
17,000
On disposals
-
(722)
-
-
(722)
At 31 March 2024
50,286
13,027
12,850
19,836
95,999
At 31 March 2024
307,114
4,772
1,346
8,004
321,236
At 31 March 2023
321,410
5,458
1,795
9,267
337,930
The land and buildings were revalued on 17 August 2021 by Pygott & Crone Estate Agents on a commercial property basis. The land and buildings were valued at £350,000.
Amounts falling due within one year
Trade debtors
21,600
30,568
Accrued income and prepayments
165
151
Willows Childcare Limited
Notes to the Accounts
for the year ended 31 March 2024
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
13,429
13,085
Taxes and social security
20,033
17,210
Other creditors
2,708
2,433
Deferred income
6,498
17,490
7
Creditors: amounts falling due after more than one year
2024
2023
8
Deferred taxation
2024
2023
Accelerated capital allowances
2,321
2,739
Provision at start of year
2,739
2,355
(Credited)/charged to the profit and loss account
(418)
384
Provision at end of year
2,321
2,739
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Average number of employees
During the year the average number of employees was 17 (2023: 18).