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Hilary's Childminders Limited

Registered Number
08147051
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

Hilary's Childminders Limited
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

Hilary Luff
Paul Luff

Registered Address

Woodbank Cottage
220 Watling Street South
Church Stretton
SY6 6PH

Registered Number

08147051 (England and Wales)
Hilary's Childminders Limited
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets38,4809,540
Tangible assets412,08215,471
20,56225,011
Current assets
Debtors4,03912,593
Cash at bank and on hand2,3183,092
6,35715,685
Creditors amounts falling due within one year5(15,908)(14,521)
Net current assets (liabilities)(9,551)1,164
Total assets less current liabilities11,01126,175
Creditors amounts falling due after one year6(5,000)(11,000)
Provisions for liabilities7(2,416)(2,939)
Net assets3,59512,236
Capital and reserves
Called up share capital100100
Profit and loss account3,49512,136
Shareholders' funds3,59512,236
The financial statements were approved and authorised for issue by the Board of Directors on 10 December 2024, and are signed on its behalf by:
Paul Luff
Director
Registered Company No. 08147051
Hilary's Childminders Limited
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: Goodwill (5% straight line)
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Vehicles25
Office Equipment15
Government grants or assistance
Government revenue grants are recognised in the financial statements in the period in which they are received. Any related expenditure is not offset but recognised separately within the same financial period as the income is received.
2.Average number of employees

20242023
Average number of employees during the year66
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 September 2321,20021,200
At 31 August 2421,20021,200
Amortisation and impairment
At 01 September 2311,66011,660
Charge for year1,0601,060
At 31 August 2412,72012,720
Net book value
At 31 August 248,4808,480
At 31 August 239,5409,540
4.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 September 2318,99513,12232,117
At 31 August 2418,99513,12232,117
Depreciation and impairment
At 01 September 238,3118,33516,646
Charge for year2,6717183,389
At 31 August 2410,9829,05320,035
Net book value
At 31 August 248,0134,06912,082
At 31 August 2310,6844,78715,471
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables66807
Bank borrowings and overdrafts6,0006,000
Taxation and social security6,6897,318
Other creditors2,757-
Accrued liabilities and deferred income396396
Total15,90814,521
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. Bank and other borrowings relate to a Bounce Bank Loan which is 100% secured by the Government. The interest rate is fixed at 2.5% and the final instalment is due in May 2026.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts5,00011,000
Total5,00011,000
Bank and other borrowings relate to a Bounce Bank Loan which is 100% secured by the Government. The interest rate is fixed at 2.5% and the final instalment is due in May 2026.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)2,4162,939
Total2,4162,939
8.Related party transactions
At the year end, the Company was owed £1,061 (2023 - £9,045) by the Directors. The monies having been advanced to assist the Directors in carrying out their duties and were repayable upon demand. The loan was made on an unsecured, interest free basis and repayment was made within 9 months of the year end.