Company registration number 05403936 (England and Wales)
RAGAMUFFINS DAY NURSERIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2024
PAGES FOR FILING WITH REGISTRAR
RAGAMUFFINS DAY NURSERIES LIMITED
COMPANY INFORMATION
Directors
Mrs S J Mahon
Mr L M P Mahon
Secretary
Mr L M P Mahon
Company number
05403936
Registered office
265 Birchfield Road
Webheath
Redditch
Worcestershire
B97 4NB
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Barclays Bank Plc
Leicester
Leicestershire
LE87 2BB
RAGAMUFFINS DAY NURSERIES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
RAGAMUFFINS DAY NURSERIES LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RAGAMUFFINS DAY NURSERIES LIMITED FOR THE YEAR ENDED 30 MAY 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ragamuffins Day Nurseries Limited for the year ended 30 May 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Ragamuffins Day Nurseries Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ragamuffins Day Nurseries Limited and state those matters that we have agreed to state to the board of directors of Ragamuffins Day Nurseries Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ragamuffins Day Nurseries Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Ragamuffins Day Nurseries Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ragamuffins Day Nurseries Limited. You consider that Ragamuffins Day Nurseries Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ragamuffins Day Nurseries Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
18 December 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
RAGAMUFFINS DAY NURSERIES LIMITED
BALANCE SHEET
AS AT 30 MAY 2024
30 May 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
23,500
35,250
Tangible assets
4
477,197
373,000
500,697
408,250
Current assets
Debtors
5
685,229
441,233
Cash at bank and in hand
721,015
691,630
1,406,244
1,132,863
Creditors: amounts falling due within one year
6
(297,842)
(258,834)
Net current assets
1,108,402
874,029
Total assets less current liabilities
1,609,099
1,282,279
Provisions for liabilities
7
(4,758)
(5,162)
Net assets
1,604,341
1,277,117
Capital and reserves
Called up share capital
8
102
102
Profit and loss reserves
1,604,239
1,277,015
Total equity
1,604,341
1,277,117

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

For the financial year ended 30 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their 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.

RAGAMUFFINS DAY NURSERIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 MAY 2024
30 May 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 18 December 2024 and are signed on its behalf by:
Mr L M P Mahon
Director
Company registration number 05403936 (England and Wales)
RAGAMUFFINS DAY NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2024
- 4 -
1
Accounting policies
Company information

Ragamuffins Day Nurseries Limited is a private company limited by shares incorporated in England and Wales. The registered office is 265 Birchfield Road, Webheath, Redditch, Worcestershire, United Kingdom, B97 4NB.

1.1
Accounting convention

These financial statements have been prepared in accordance with 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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

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.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently 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
Nil
Leasehold improvements
5% on cost
Plant and equipment
25% on reducing balance
Fixtures and fittings
15% on reducing balance
Computer equipment
25% on cost
Motor vehicles
25% on reducing balance

No depreciation is provided on freehold property. This treatment may be a departure from the requirements of Companies Act 2006 concerning depreciation of fixed assets, however, the company follows a program of regular refurbishment and maintenance of its properties, which includes the reinstatement of the fabric of the buildings where necessary in order to maintain them to a high standard. Accordingly, in the opinion of the directors, any element of depreciation would be immaterial and no provision has been made, as the residual value would be in excess of cost.

1.5
Taxation

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

RAGAMUFFINS DAY NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MAY 2024
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. 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. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

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

2024
2023
Number
Number
Total
46
47
RAGAMUFFINS DAY NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MAY 2024
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 31 May 2023 and 30 May 2024
192,500
Amortisation and impairment
At 31 May 2023
157,250
Amortisation charged for the year
11,750
At 30 May 2024
169,000
Carrying amount
At 30 May 2024
23,500
At 30 May 2023
35,250
RAGAMUFFINS DAY NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MAY 2024
- 7 -
4
Tangible fixed assets
Freehold land and buildings
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 31 May 2023
340,275
35,522
22,944
64,306
7,095
-
0
470,142
Additions
-
0
13,186
-
0
3,851
1,534
123,154
141,725
At 30 May 2024
340,275
48,708
22,944
68,157
8,629
123,154
611,867
Depreciation and impairment
At 31 May 2023
-
0
21,244
19,088
49,939
6,871
-
0
97,142
Depreciation charged in the year
-
0
2,435
963
2,734
607
30,789
37,528
At 30 May 2024
-
0
23,679
20,051
52,673
7,478
30,789
134,670
Carrying amount
At 30 May 2024
340,275
25,029
2,893
15,484
1,151
92,365
477,197
At 30 May 2023
340,275
14,278
3,856
14,367
224
-
0
373,000
RAGAMUFFINS DAY NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MAY 2024
- 8 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,602
1,496
Other debtors
683,627
439,737
685,229
441,233
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
71,713
40,371
Taxation and social security
118,657
133,567
Other creditors
107,472
84,896
297,842
258,834
7
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
4,758
5,162
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
100
100
100
100
Ordinary B of £1 each
1
1
1
1
Ordinary D of £1 each
1
1
1
1
102
102
102
102
9
Ultimate controlling party

The ultimate controlling party is Mr L M P Mahon and Mrs S J Mahon.

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