Chuckles Childcare Ltd 14118408 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is that of child day care. Digita Accounts Production Advanced 6.30.9574.0 true true true 14118408 2023-06-01 2024-05-31 14118408 2024-05-31 14118408 bus:Director1 2024-05-31 14118408 bus:OrdinaryShareClass1 2024-05-31 14118408 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-05-31 14118408 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 14118408 core:Non-currentFinancialInstruments 2024-05-31 14118408 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 14118408 core:FurnitureFittingsToolsEquipment 2024-05-31 14118408 core:LandBuildings 2024-05-31 14118408 core:MotorVehicles 2024-05-31 14118408 1 2024-05-31 14118408 bus:SmallEntities 2023-06-01 2024-05-31 14118408 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 14118408 bus:FilletedAccounts 2023-06-01 2024-05-31 14118408 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 14118408 bus:RegisteredOffice 2023-06-01 2024-05-31 14118408 bus:Director1 2023-06-01 2024-05-31 14118408 bus:Director2 2023-06-01 2024-05-31 14118408 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 14118408 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-06-01 2024-05-31 14118408 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 14118408 bus:Agent1 2023-06-01 2024-05-31 14118408 core:Buildings 2023-06-01 2024-05-31 14118408 core:FurnitureFittings 2023-06-01 2024-05-31 14118408 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 14118408 core:LandBuildings 2023-06-01 2024-05-31 14118408 core:MotorVehicles 2023-06-01 2024-05-31 14118408 core:OfficeEquipment 2023-06-01 2024-05-31 14118408 1 2023-06-01 2024-05-31 14118408 1 2023-06-01 2024-05-31 14118408 countries:AllCountries 2023-06-01 2024-05-31 14118408 2023-05-31 14118408 core:FurnitureFittingsToolsEquipment 2023-05-31 14118408 core:LandBuildings 2023-05-31 14118408 core:MotorVehicles 2023-05-31 14118408 2022-05-19 2023-05-31 14118408 2023-05-31 14118408 bus:OrdinaryShareClass1 2023-05-31 14118408 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-05-31 14118408 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 14118408 core:Non-currentFinancialInstruments 2023-05-31 14118408 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 14118408 core:FurnitureFittingsToolsEquipment 2023-05-31 14118408 core:LandBuildings 2023-05-31 14118408 core:MotorVehicles 2023-05-31 14118408 1 2023-05-31 14118408 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-05-19 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14118408

Chuckles Childcare Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Chuckles Childcare Ltd

Company Information

Director

Mrs Caroline McCormack-Jones

Registered office

Unit 17 Sovereign Court Wyrefields
Poulton Industrial Estate
Poulton-Le-Fylde
FY6 8JX

Accountants

Beckett Rawcliffe Limited
Unit 17, Beckett House
Sovereign Court
Wyrefields
Poulton Le Fylde
Lancashire
FY6 8JX

 

Chuckles Childcare Ltd

Director's Report for the Year Ended 31 May 2024

The director presents her report and the financial statements for the year ended 31 May 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Robert Vaughn Moorcroft McCormack-Jones (ceased 31 July 2024)

Mrs Caroline McCormack-Jones

Principal activity

The principal activity of the company is that of child day care.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 10 September 2024 and signed on its behalf by:

.........................................
Mrs Caroline McCormack-Jones
Director

   
     
 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Chuckles Childcare Ltd
for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Chuckles Childcare Ltd for the year ended 31 May 2024 as set out on pages 4 to 11 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Chuckles Childcare Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Chuckles Childcare Ltd and state those matters that we have agreed to state to the Board of Directors of Chuckles Childcare Ltd, 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 Chuckles Childcare Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Chuckles Childcare Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Chuckles Childcare Ltd. You consider that Chuckles Childcare Ltd 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 accounts of Chuckles Childcare Ltd. 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 accounts.

......................................

Beckett Rawcliffe Limited
Unit 17, Beckett House
Sovereign Court
Wyrefields
Poulton Le Fylde
Lancashire
FY6 8JX

10 September 2024

 

Chuckles Childcare Ltd

(Registration number: 14118408)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

167,461

96,696

Current assets

 

Cash at bank and in hand

 

3,173

6,366

Creditors: Amounts falling due within one year

6

(9,372)

(64,696)

Net current liabilities

 

(6,199)

(58,330)

Total assets less current liabilities

 

161,262

38,366

Creditors: Amounts falling due after more than one year

6

(111,726)

(18,894)

Net assets

 

49,536

19,472

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

49,535

19,471

Shareholders' funds

 

49,536

19,472

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 September 2024
 

.........................................
Mrs Caroline McCormack-Jones
Director

   
     
 

Chuckles Childcare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
Unit 17 Sovereign Court Wyrefields
Poulton Industrial Estate
Poulton-Le-Fylde
FY6 8JX
England

These financial statements were authorised for issue by the director on 10 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Chuckles Childcare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Buildings

20% staight line over 50 years

Motor vehicles

10% straight line over 10 years

Fixtures and fittings

20% on reducing balance

Office equipment

20% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Chuckles Childcare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 14 (2023 - 10).

 

Chuckles Childcare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

56,652

21,170

25,676

103,498

Additions

74,780

6,769

-

81,549

At 31 May 2024

131,432

27,939

25,676

185,047

Depreciation

At 1 June 2023

-

4,234

2,568

6,802

Charge for the year

2,629

5,588

2,567

10,784

At 31 May 2024

2,629

9,822

5,135

17,586

Carrying amount

At 31 May 2024

128,803

18,117

20,541

167,461

At 31 May 2023

56,652

16,936

23,108

96,696

Included within the net book value of land and buildings above is £128,804 (2023 - £56,652) in respect of freehold land and buildings.
 

 

Chuckles Childcare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Debtors

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

7,134

2,126

Accruals and deferred income

2,043

1,221

Other creditors

195

61,349

9,372

64,696

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

111,726

18,894

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

111,726

-

Hire purchase contracts

-

18,894

111,726

18,894

Bank borrowings

Royal Bank of Scotland is denominated in GBP with a nominal interest rate of 6.0%, and the final instalment is due on . The carrying amount at year end is £111,726 (2023 - £Nil).

Land & Buildings

 

Chuckles Childcare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £16,000.00 (2023 - £4,000.00) per each Ordinary

16,000

4,000

 

 

10

Related party transactions

 

Chuckles Childcare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

11,784

8,777

11

Parent and ultimate parent undertaking

The ultimate controlling party is Caroline McCormack-Jones.