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Registration number: 04430235

Daisykins Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Daisykins Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 10

 

Daisykins Limited

Company Information

Director

Mr Dominic Paul Machan

Registered office

3-5 Whitehall Road
Rugby
Warwickshire
CV21 3AE

Accountants

Lucraft Hodgson & Dawes LLP
2/4 Ash Lane
Rustington
Littlehampton
West Sussex
BN16 3BZ

 

Daisykins Limited

Director's Report for the Year Ended 31 August 2024

The director presents his report and the financial statements for the year ended 31 August 2024.

Director of the company

The director who held office during the year was as follows:

Mr Dominic Paul Machan

Principal activity

The principal activity of the company is the operation of day nursery and provision of pre school care.

Going concern

On the 30th August 2022, the company entered into a Company Voluntary Arrangement (CVA), in which the company reached an agreement with its creditors to make monthly contributions to the arrangement and that the creditors accept a reduced amount to satisfy their claims against the company. At the date of approval, the company has met all of all the obligations which have fallen due.

The Directors anticipate that the company will continue to meet these obligations and the arrangement will prove to be successful, the accounts have therefore been prepared on aging concern basis.

No adjustments have been made in the accounts to reflect the reduction in the liabilities as a result of this arrangement

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 and authorised by the director on 10 December 2024
 

.........................................
Mr Dominic Paul Machan
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Daisykins Limited
for the Year Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Daisykins Limited for the year ended 31 August 2024 as set out on pages 4 to 10 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 Daisykins Limited, 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 Daisykins Limited and state those matters that we have agreed to state to the Board of Directors of Daisykins 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 Daisykins Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Daisykins Limited 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 Daisykins Limited. You consider that Daisykins 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 accounts of Daisykins 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 accounts.

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

Lucraft Hodgson & Dawes LLP
2/4 Ash Lane
Rustington
Littlehampton
West Sussex
BN16 3BZ

10 December 2024

 

Daisykins Limited

(Registration number: 04430235)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

410,308

436,777

Current assets

 

Debtors

5

864,004

877,156

Cash at bank and in hand

 

16,502

14,569

 

880,506

891,725

Creditors: Amounts falling due within one year

6

(275,227)

(130,543)

Net current assets

 

605,279

761,182

Total assets less current liabilities

 

1,015,587

1,197,959

Creditors: Amounts falling due after more than one year

6

(24,064)

(424,078)

Provisions for liabilities

(1,368)

(1,594)

Net assets

 

990,155

772,287

Capital and reserves

 

Called up share capital

7

100

100

Profit and loss account

990,055

772,187

Shareholders' funds

 

990,155

772,287

For the financial year ending 31 August 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 his 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.

Approved and authorised by the director on 10 December 2024
 

.........................................
Mr Dominic Paul Machan
Director

 

Daisykins Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3-5 Whitehall Road
Rugby
Warwickshire
CV21 3AE

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

The financial statements are presented in Sterling, which is the functional currency of the company.

Going concern

On the 30th August 2022, the company entered into a Company Voluntary Arrangement (CVA), in which the company reached an agreement with its creditors to make monthly contributions to the arrangement and that the creditors accept a reduced amount to satisfy their claims against the company. At the date of approval, the company has met all of all the obligations which have fallen due.

The Directors anticipate that the company will continue to meet these obligations and the arrangement will prove to be successful, the accounts have therefore been prepared on aging concern basis.

No adjustments have been made in the accounts to reflect the reduction in the liabilities as a result of this arrangement

 

Daisykins Limited

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

2

Accounting policies (continued)

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 tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Long leasehold

Straight line 10%

Play equipment

Reducing balance 25%

Fixture and fittings

Straight line 25%

Motor vehicles

Straight line 20%

Computer equipment

Straight line 25%

Freehold property

Straight line 3%

 

Daisykins Limited

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

2

Accounting policies (continued)

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Daisykins Limited

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

2

Accounting policies (continued)

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 25 (2023 - 24).

 

Daisykins Limited

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

511,281

89,550

77,315

678,146

Additions

-

289

-

289

At 31 August 2024

511,281

89,839

77,315

678,435

Depreciation

At 1 September 2023

85,864

81,902

73,603

241,369

Charge for the year

23,636

2,193

929

26,758

At 31 August 2024

109,500

84,095

74,532

268,127

Carrying amount

At 31 August 2024

401,781

5,744

2,783

410,308

At 31 August 2023

425,417

7,648

3,712

436,777

Included within the net book value of land and buildings above is £369,184 (2023 - £380,967) in respect of freehold land and buildings and £32,597 (2023 - £44,450) in respect of long leasehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Prepayments

3,305

3,302

Other debtors

860,699

873,854

 

864,004

877,156

 

Daisykins Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

75,096

-

Trade creditors

 

1,453

1,453

Taxation and social security

 

12,757

15,991

Accruals and deferred income

 

38,468

40,473

Other creditors

 

147,453

72,626

 

275,227

130,543

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

24,064

-

Other non-current financial liabilities

 

-

424,078

 

24,064

424,078

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100