Company registration number 03629368 (England and Wales)
KINGSCLIFFE DAY NURSERY LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
KINGSCLIFFE DAY NURSERY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Information for management
-
KINGSCLIFFE DAY NURSERY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
399,999
434,397
Current assets
Debtors
4
107,158
100,077
Cash at bank and in hand
11,635
89,695
118,793
189,772
Creditors: amounts falling due within one year
5
(47,749)
(87,967)
Net current assets
71,044
101,805
Total assets less current liabilities
471,043
536,202
Creditors: amounts falling due after more than one year
6
(25,952)
(24,779)
Provisions for liabilities
(8,589)
(8,589)
Net assets
436,502
502,834
Capital and reserves
Called up share capital
7
50,000
50,000
Other reserves
198,564
198,564
Profit and loss reserves
8
187,938
254,270
Total equity
436,502
502,834

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

KINGSCLIFFE DAY NURSERY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 3 December 2024
A G Dudley
Director
Company registration number 03629368 (England and Wales)
KINGSCLIFFE DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Kingscliffe Day Nursery Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6 Forest Road, Loughborough, Leicestershire, LE11 3NP.

1.1
Basis of preparation

These financial statements have been prepared in accordance with applicable accounting standards including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
None
Nursery equipment
15% reducing balance
Fixtures and fittings
15% reducing balance
Motor vehicles
25% reducing balance
1.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

KINGSCLIFFE DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

1.7
Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
6
KINGSCLIFFE DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Freehold land and buildings
Nursery equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2023
400,000
79,431
21,227
11,391
512,049
Disposals
-
0
(79,431)
(21,227)
(11,391)
(112,049)
At 31 March 2024
400,000
-
0
-
0
-
0
400,000
Depreciation and impairment
At 1 April 2023
-
0
52,000
16,137
9,515
77,652
Depreciation charged in the year
-
0
4,115
764
375
5,254
Eliminated in respect of disposals
-
0
(56,114)
(16,901)
(9,890)
(82,905)
At 31 March 2024
-
0
1
-
0
-
0
1
Carrying amount
At 31 March 2024
400,000
(1)
-
0
-
0
399,999
At 31 March 2023
400,000
27,431
5,090
1,876
434,397
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
7,256
-
0
Amounts owed by undertakings in which the company has a participating interest
99,900
99,900
Prepayments and accrued income
2
177
107,158
100,077
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,450
24,599
Other borrowings
11,400
-
0
Corporation tax
-
0
15,267
Other taxation and social security
1,834
-
0
Other creditors
24,097
13,268
Accruals and deferred income
4,968
34,833
47,749
87,967
KINGSCLIFFE DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
25,952
24,779
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
10,000 Ordinary shares of £1 each
10,000
10,000
Preference share capital
Issued and fully paid
40,000 Preference shares of £1 each
40,000
40,000
Preference shares classified as equity
40,000
40,000
Total equity share capital
50,000
50,000
8
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
254,270
210,606
(Loss)/profit for the year
(65,332)
67,664
Dividends declared and paid in the year
(1,000)
(24,000)
At the end of the year
187,938
254,270
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