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REGISTERED NUMBER: SC533766















RIVERSIDE CHILDCARE LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024






RIVERSIDE CHILDCARE LTD (REGISTERED NUMBER: SC533766)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


RIVERSIDE CHILDCARE LTD (REGISTERED NUMBER: SC533766)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 360,456 509,456
Tangible assets 5 344,285 364,764
704,741 874,220

CURRENT ASSETS
Debtors 6 1,150,020 97,616
Cash at bank 101,289 873,357
1,251,309 970,973
CREDITORS
Amounts falling due within one year 7 621,561 561,194
NET CURRENT ASSETS 629,748 409,779
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,334,489

1,283,999

CREDITORS
Amounts falling due after more than one
year

8

(782,466

)

(836,567

)

PROVISIONS FOR LIABILITIES (4,816 ) (7,829 )
NET ASSETS 547,207 439,603

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 547,201 439,597
SHAREHOLDERS' FUNDS 547,207 439,603

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RIVERSIDE CHILDCARE LTD (REGISTERED NUMBER: SC533766)

BALANCE SHEET - continued
30 APRIL 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 January 2025 and were signed on its behalf by:





M A Adrees - Director


RIVERSIDE CHILDCARE LTD (REGISTERED NUMBER: SC533766)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Riverside Childcare Ltd is a private company, limited by shares, registered in Scotland. The registered office is Caledonia House, 89 Seaward Street, Glasgow, Scotland, G41 1HJ.

The financial statements are presented in Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard. The financial statements have been prepared under the historical cost convention.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements.

Turnover
Turnover represents invoiced value of services rendered. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the services have been passed to the buyer.

Intangible fixed assets
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the balance sheet and amortised over its estimated useful life up to a maximum of 10 years. This length of time is presumed to be the maximum useful life of purchased goodwill because it is difficult to make projections beyond this period. Goodwill is reviewed for impairment at the end of the first full financial year following each acquisition and subsequently, as and when necessary, if circumstances emerge that indicate that the carrying value may not be recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33.3% on cost, 25% on cost and 25% on reducing balance

Fixed assets are included in the balance sheet at cost less accumulated depreciation and accumulated impairment losses.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

RIVERSIDE CHILDCARE LTD (REGISTERED NUMBER: SC533766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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

Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 38 ) .

RIVERSIDE CHILDCARE LTD (REGISTERED NUMBER: SC533766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 1,489,999
AMORTISATION
At 1 May 2023 980,543
Charge for year 149,000
At 30 April 2024 1,129,543
NET BOOK VALUE
At 30 April 2024 360,456
At 30 April 2023 509,456

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 377,684 122,881 500,565
Additions - 3,226 3,226
At 30 April 2024 377,684 126,107 503,791
DEPRECIATION
At 1 May 2023 49,073 86,728 135,801
Charge for year 7,554 16,151 23,705
At 30 April 2024 56,627 102,879 159,506
NET BOOK VALUE
At 30 April 2024 321,057 23,228 344,285
At 30 April 2023 328,611 36,153 364,764

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 60,412 5,625
Other debtors 1,089,608 91,991
1,150,020 97,616

RIVERSIDE CHILDCARE LTD (REGISTERED NUMBER: SC533766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 54,100 54,100
Trade creditors 1,899 -
Taxation and social security 125,750 82,013
Other creditors 439,812 425,081
621,561 561,194

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 782,466 836,567

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 836,566 890,667

The bank loan is secured by a floating charge over all the company assets.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
M A Adrees
Balance outstanding at start of year 87,506 (105 )
Amounts advanced 10,346 87,611
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 97,852 87,506

Interest is charged at a commercial rate, with no fixed repayment terms of repayment.

11. RELATED PARTY DISCLOSURES

At the balance sheet date, included within other creditors is a balance of £408,623 (2023: £343,623) due to a company controlled by the directors.

Also at the balance sheet date, included within other debtors is a balance of £965,628 (2023: nil) due from a company controlled by the directors.


The balances are interest free, unsecured with no fixed repayment terms.