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Registered number: 08527490
Shannon Childcare Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08527490
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1 1
Tangible Assets 5 836,388 852,502
836,389 852,503
CURRENT ASSETS
Debtors 6 149,630 101,887
Cash at bank and in hand 294,169 336,352
443,799 438,239
Creditors: Amounts Falling Due Within One Year 7 (80,569 ) (111,490 )
NET CURRENT ASSETS (LIABILITIES) 363,230 326,749
TOTAL ASSETS LESS CURRENT LIABILITIES 1,199,619 1,179,252
NET ASSETS 1,199,619 1,179,252
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 1,199,519 1,179,152
SHAREHOLDERS' FUNDS 1,199,619 1,179,252
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Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Alyson Shannon
Director
28/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Shannon Childcare Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08527490 . The registered office is Elstree Studios, Shenley Road, Borehamwood, Hertfordshire, WD6 1JG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. 
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not depreciated
Motor Vehicles 33% straight line
Fixtures & Fittings 33% reducing balance
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2023: 19)
18 19
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4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 138,000
As at 31 May 2024 138,000
Amortisation
As at 1 June 2023 137,999
As at 31 May 2024 137,999
Net Book Value
As at 31 May 2024 1
As at 1 June 2023 1
5. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 June 2023 801,681 57,610 90,171 949,462
Additions - - 3,758 3,758
As at 31 May 2024 801,681 57,610 93,929 953,220
Depreciation
As at 1 June 2023 - 14,043 82,917 96,960
Provided during the period - 14,083 5,789 19,872
As at 31 May 2024 - 28,126 88,706 116,832
Net Book Value
As at 31 May 2024 801,681 29,484 5,223 836,388
As at 1 June 2023 801,681 43,567 7,254 852,502
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,498 -
Other debtors 148,132 101,887
149,630 101,887
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 46,787 44,316
Other creditors 17,034 9,737
Taxation and social security 16,748 57,437
80,569 111,490
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Ms Alyson Shannon 64,597 17,922 - - 82,519
The above loan is unsecured.  Interest is charged at 2.25% per annum. 
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