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REGISTERED NUMBER: 04399758 (England and Wales)















SNAPDRAGONS NURSERIES LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024






SNAPDRAGONS NURSERIES LIMITED (REGISTERED NUMBER: 04399758)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Income Statement 6

Other Comprehensive Income 7

Balance Sheet 8

Statement of Changes in Equity 9

Cash Flow Statement 10

Notes to the Cash Flow Statement 11

Notes to the Financial Statements 12


SNAPDRAGONS NURSERIES LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTORS: P H Collard
Mrs R A Collard
J Collard
Mrs J S Biddel
Miss S O Collard
Miss I A Collard
M R Johnson


SECRETARY: P H Collard


REGISTERED OFFICE: 1 Abacus House
Newlands Road
Corsham
Wiltshire
SN13 0BH


REGISTERED NUMBER: 04399758 (England and Wales)


AUDITORS: Richardson Swift Audit Limited
11 Laura Place
Bath
Somerset
BA2 4BL


BANKERS: HSBC Bank Plc
32 High Street
Melksham
Wiltshire
SN12 2DH

SNAPDRAGONS NURSERIES LIMITED (REGISTERED NUMBER: 04399758)

STRATEGIC REPORT
for the Year Ended 30 April 2024

The directors present their strategic report for the year ended 30 April 2024.

REVIEW OF BUSINESS
In 2023-2024, the demand for childcare spaces has continued to rise across all sites. While the first half of the year was impacted at a few locations due to the nationwide shortage of childcare staff, recovery in staffing levels was largely achieved in the latter half of the year. Notably, our Cribbs Causeway site has shown consistent growth, with forecasts indicating a strong year-on-year increase that is expected to continue into the upcoming year.

We remain focused on ensuring that our recruitment and retention strategies are competitive, which has contributed to staffing stabilisation across several sites. This will continue to be a top priority moving forward, as attracting and retaining high-quality staff is crucial to sustaining business growth.

Childcare costs remain a key concern for our parents, and we are committed to ensuring any increases are necessary and justified to maintain competitiveness and value. The government has expanded its nursery funding support for parents, and starting from April, most of our children aged two and above will receive some form of government assistance. By September 2024, this support will extend to children aged nine months and over. We welcome this initiative and aim to offer the same flexibility we currently provide for children aged 3-5.

Although turnover across the group has increased, the pace of growth has been slower than desired due to staffing challenges. However, projections for Autumn 2024 and the following financial quarter are very promising , and we are confident that the business will return to pre-COVID levels of growth.

The group completed the purchase of a new site in Southville, Bristol, in March 2024. Previously Holy Cross church and presbytery, our plans are to refurbish and redevelop the church into a 160 place day nursery. We are hopeful that building works will be completed in time for us to open in late 2025.

PRINCIPAL RISKS AND UNCERTAINTIES
As highlighted earlier, recruitment will remain a key priority this year to support our ongoing growth. Uncertainty around the new government’s policies towards businesses and particularly childcare, may affect prospects for the sector. Additionally, increased Government regulation and persistent inflation continue to pose challenges, though we believe the company is well-positioned to navigate these conditions effectively.

ON BEHALF OF THE BOARD:





P H Collard - Secretary


27 January 2025

SNAPDRAGONS NURSERIES LIMITED (REGISTERED NUMBER: 04399758)

REPORT OF THE DIRECTORS
for the Year Ended 30 April 2024

The directors present their report with the financial statements of the company for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the provision of pre-school nurseries for children.

DIVIDENDS
The total distribution of dividends for the year ended 30 April 2024 will be £ 355,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

P H Collard
Mrs R A Collard
J Collard
Mrs J S Biddel
Miss S O Collard
Miss I A Collard
M R Johnson

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:



P H Collard - Secretary


27 January 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SNAPDRAGONS NURSERIES LIMITED

Opinion
We have audited the financial statements of Snapdragons Nurseries Limited (the 'company') for the year ended 30 April 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SNAPDRAGONS NURSERIES LIMITED


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Our approach was as follows:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity by discussion with directors and consideration of our experience of this and similar sectors.

We determined that the most significant laws and regulations which have a direct impact on the form and content of the financial statements of the entity are the Companies Act and UK GAAP, specifically FRS102.

We determined that the most significant operational laws and regulations for the entity are safeguarding and health and safety regulations.

Based on the results or our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above, with no issues arising.

We gained an understating of the entity's policy and procedures by discussion with directors and key personnel and substantive audit work, including walk through tests of key processes.

We assessed the risk of material misstatement in respect of fraud through our planning processes, and no significant risks were identified.

We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries into our audit approach.

Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Catherine Edwards BSc FCA (Senior Statutory Auditor)
for and on behalf of Richardson Swift Audit Limited
11 Laura Place
Bath
Somerset
BA2 4BL

29 January 2025

SNAPDRAGONS NURSERIES LIMITED (REGISTERED NUMBER: 04399758)

INCOME STATEMENT
for the Year Ended 30 April 2024

30/4/24 30/4/23
Notes £    £   

TURNOVER 3 12,292,180 11,182,517

Cost of sales 8,917,957 8,029,575
GROSS PROFIT 3,374,223 3,152,942

Administrative expenses 2,313,207 2,240,338
1,061,016 912,604

Other operating income 4 97,525 103,655
OPERATING PROFIT 6 1,158,541 1,016,259

Interest receivable and similar income 56,451 18,397
1,214,992 1,034,656

Interest payable and similar expenses 7 131,431 113,071
PROFIT BEFORE TAXATION 1,083,561 921,585

Tax on profit 8 454,496 217,628
PROFIT FOR THE FINANCIAL YEAR 629,065 703,957

SNAPDRAGONS NURSERIES LIMITED (REGISTERED NUMBER: 04399758)

OTHER COMPREHENSIVE INCOME
for the Year Ended 30 April 2024

30/4/24 30/4/23
Notes £    £   

PROFIT FOR THE YEAR 629,065 703,957


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

629,065
Prior year adjustment (38,721 )
TOTAL COMPREHENSIVE INCOME SINCE
LAST ANNUAL REPORT

665,236

SNAPDRAGONS NURSERIES LIMITED (REGISTERED NUMBER: 04399758)

BALANCE SHEET
30 April 2024

30/4/24 30/4/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 2,520,891 1,903,760
Investments 11 2,000 2,000
2,522,891 1,905,760

CURRENT ASSETS
Debtors 12 293,813 985,559
Cash at bank and in hand 1,697,118 811,960
1,990,931 1,797,519
CREDITORS
Amounts falling due within one year 13 1,751,980 1,227,936
NET CURRENT ASSETS 238,951 569,583
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,761,842

2,475,343

CREDITORS
Amounts falling due after more than one
year

14

(1,643,995

)

(1,823,700

)

PROVISIONS FOR LIABILITIES 18 (257,397 ) (65,258 )
NET ASSETS 860,450 586,385

CAPITAL AND RESERVES
Called up share capital 19 145 145
Other reserve 20 1,795,684 1,795,684
Retained earnings 20 (935,379 ) (1,209,444 )
SHAREHOLDERS' FUNDS 860,450 586,385

The financial statements were authorised for issue and approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:




P H Collard - Director



Mrs R A Collard - Director


SNAPDRAGONS NURSERIES LIMITED (REGISTERED NUMBER: 04399758)

STATEMENT OF CHANGES IN EQUITY
for the Year Ended 30 April 2024

Called up
share Retained Other Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 May 2022 145 (1,497,680 ) 1,795,684 298,149
Prior year adjustment - (38,721 ) - (38,721 )
As restated 145 (1,536,401 ) 1,795,684 259,428

Changes in equity
Dividends - (377,000 ) - (377,000 )
Total comprehensive income - 703,957 - 703,957
Balance at 30 April 2023 145 (1,209,444 ) 1,795,684 586,385

Changes in equity
Dividends - (355,000 ) - (355,000 )
Total comprehensive income - 629,065 - 629,065
Balance at 30 April 2024 145 (935,379 ) 1,795,684 860,450

SNAPDRAGONS NURSERIES LIMITED (REGISTERED NUMBER: 04399758)

CASH FLOW STATEMENT
for the Year Ended 30 April 2024

30/4/24 30/4/23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,963,246 1,326,527
Interest paid (131,432 ) (113,071 )
Tax paid (254,805 ) (477,080 )
Interest paid on late tax 49 646
Net cash from operating activities 1,577,058 737,022

Cash flows from investing activities
Purchase of tangible fixed assets (955,650 ) (152,756 )
Sale of tangible fixed assets 14,000 -
Interest earned on early tax payments (12,618 ) -
Interest received 56,451 18,397
Net cash from investing activities (897,817 ) (134,359 )

Cash flows from financing activities
Loan repayments in year (177,279 ) (1,398,185 )
Amount introduced by directors 105,648 56,397
Amount withdrawn by directors (118,173 ) (59,098 )
Payments on account 42,959 50,221
Snapdragons Holdings Ltd 707,762 614,474
Equity dividends paid (355,000 ) (377,000 )
Net cash from financing activities 205,917 (1,113,191 )

Increase/(decrease) in cash and cash equivalents 885,158 (510,528 )
Cash and cash equivalents at beginning
of year

2

811,960

1,322,488

Cash and cash equivalents at end of year 2 1,697,118 811,960

SNAPDRAGONS NURSERIES LIMITED (REGISTERED NUMBER: 04399758)

NOTES TO THE CASH FLOW STATEMENT
for the Year Ended 30 April 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

30/4/24 30/4/23
£    £   
Profit before taxation 1,083,561 921,585
Depreciation charges 329,428 321,663
Profit on disposal of fixed assets (4,909 ) -
Advance Payment Work Completed (50,221 ) (42,812 )
Finance costs 131,431 113,071
Finance income (56,451 ) (18,397 )
1,432,839 1,295,110
Increase in trade and other debtors (1,954 ) (5,238 )
Increase in trade and other creditors 532,361 36,655
Cash generated from operations 1,963,246 1,326,527

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 April 2024
30/4/24 1/5/23
£    £   
Cash and cash equivalents 1,697,118 811,960
Year ended 30 April 2023
30/4/23 1/5/22
£    £   
Cash and cash equivalents 811,960 1,322,488


3. ANALYSIS OF CHANGES IN NET DEBT

At 1/5/23 Cash flow At 30/4/24
£    £    £   
Net cash
Cash at bank and in hand 811,960 885,158 1,697,118
811,960 885,158 1,697,118
Debt
Debts falling due within 1 year (174,854 ) (2,425 ) (177,279 )
Debts falling due after 1 year (1,823,700 ) 179,705 (1,643,995 )
(1,998,554 ) 177,280 (1,821,274 )
Total (1,186,594 ) 1,062,438 (124,156 )

SNAPDRAGONS NURSERIES LIMITED (REGISTERED NUMBER: 04399758)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Snapdragons Nurseries Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future period where the revision affects both current and future periods.

Critical Judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Impairment of assets
The tangible fixed assets are periodically reviewed for impairment by the directors based on their knowledge and judgements.

Key Sources of Estimation Uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows;

Depreciation and amortisation
The directors use their knowledge of the business and the industry to estimate the useful life and residual value of tangible assets in order to arrive at applicable depreciation and amortisation rates. In accordance with section 17 of FRS 102, the directors review and update these estimates if there are indicators that current estimates should change.

It must be noted that there is inherent uncertainty within these estimates as factors such as unexpected wear and tear, technological advancement and changes in market prices may result in future changes to the appropriate rate of deprecation.

Turnover
Turnover is recognised over the period of nursery care for babies and children. Turnover is measured at the fair value of consideration received or receivable excluding any discounts and represents invoiced fees and grant funding receivable.

Tangible fixed assets
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Improvements to property - 1.33% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Long leasehold improvements are depreciated over the length of the lease remaining.

Land is not depreciated.

SNAPDRAGONS NURSERIES LIMITED (REGISTERED NUMBER: 04399758)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

Going concern
The directors have assessed whether the company is a going concern and have considered all available information about the future. Based on this assessment, the directors are confident of the company's ability to continue as a going concern.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

SNAPDRAGONS NURSERIES LIMITED (REGISTERED NUMBER: 04399758)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

30/4/24 30/4/23
£    £   
Nursery Fees 12,218,040 11,130,972
Registration Fees 74,140 51,545
12,292,180 11,182,517

4. OTHER OPERATING INCOME
30/4/24 30/4/23
£    £   
Rents received 4,750 9,150
Sundry receipts 442 232
Grants received 88,513 93,333
Other grants received 3,820 940
97,525 103,655

Other operating income includes Local Council Supports Grants and Training Grants received.

5. EMPLOYEES AND DIRECTORS
30/4/24 30/4/23
£    £   
Wages and salaries 7,717,476 6,945,936
Social security costs 489,863 441,838
Other pension costs 421,080 399,619
8,628,419 7,787,393

The average number of employees during the year was as follows:
30/4/24 30/4/23

Nursery staff 387 373
Management staff 32 40
419 413

30/4/24 30/4/23
£    £   
Directors' remuneration 61,705 78,626
Directors' pension contributions to money purchase schemes 300,000 300,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 6 6

SNAPDRAGONS NURSERIES LIMITED (REGISTERED NUMBER: 04399758)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

5. EMPLOYEES AND DIRECTORS - continued

The company recognises a provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward in line with the company's holiday year ended 31 December. The provision is measured at the salary cost payable for the period of absence.

6. OPERATING PROFIT

The operating profit is stated after charging/crediting):

30/4/2430/4/23
££
Hire of plant and machinery11,0398,874
Other operating leases408,397345,769
Depreciation - owned assets329,428321,663
Profit on disposal of fixed assets(4,909)-
Auditors' remuneration6,4006,250

7. INTEREST PAYABLE AND SIMILAR EXPENSES
30/4/24 30/4/23
£    £   
Bank loan interest 131,358 112,399
HMRC interest paid 73 672
131,431 113,071

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30/4/24 30/4/23
£    £   
Current tax:
UK corporation tax 262,357 201,535

Deferred tax 192,139 16,093
Tax on profit 454,496 217,628

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

30/4/24 30/4/23
£    £   
Profit before tax 1,083,561 921,585
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19.493%)

270,890

179,645

Effects of:
Expenses not deductible for tax purposes 2,978 6,230
Capital allowances in excess of depreciation (10,284 ) -
Depreciation in excess of capital allowances - 15,761
Deferred tax 192,139 16,093

Group relief - (101 )

Profit on disposal of assets (1,227 ) -
Total tax charge 454,496 217,628

SNAPDRAGONS NURSERIES LIMITED (REGISTERED NUMBER: 04399758)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

9. DIVIDENDS
30/4/24 30/4/23
£    £   
Interim 355,000 377,000

10. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1 May 2023 2,217,246 156,623 184,105
Additions 78,371 593,693 35,233
Disposals - - -
At 30 April 2024 2,295,617 750,316 219,338
DEPRECIATION
At 1 May 2023 868,813 2,519 112,185
Charge for year 112,932 5,182 26,996
Eliminated on disposal - - -
At 30 April 2024 981,745 7,701 139,181
NET BOOK VALUE
At 30 April 2024 1,313,872 742,615 80,157
At 30 April 2023 1,348,433 154,104 71,920

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 1,098,487 274,248 203,458 4,134,167
Additions 113,728 111,899 22,726 955,650
Disposals - (36,899 ) - (36,899 )
At 30 April 2024 1,212,215 349,248 226,184 5,052,918
DEPRECIATION
At 1 May 2023 918,840 170,032 158,018 2,230,407
Charge for year 120,124 41,673 22,521 329,428
Eliminated on disposal - (27,808 ) - (27,808 )
At 30 April 2024 1,038,964 183,897 180,539 2,532,027
NET BOOK VALUE
At 30 April 2024 173,251 165,351 45,645 2,520,891
At 30 April 2023 179,647 104,216 45,440 1,903,760

SNAPDRAGONS NURSERIES LIMITED (REGISTERED NUMBER: 04399758)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

11. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 May 2023
and 30 April 2024 2,000
NET BOOK VALUE
At 30 April 2024 2,000
At 30 April 2023 2,000

Investments are held at cost.

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Amounts owed by group undertakings 268,766 976,528
Other debtors 2,390 1,253
Directors' current accounts 14,062 -
Prepayments and accrued income 8,595 7,778
293,813 985,559

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Bank loans and overdrafts (see note 15) 177,279 174,854
Payments on account 42,959 50,221
Trade creditors 96,863 79,129
Tax 51,648 56,665
Social security and other taxes 109,255 104,937
Other creditors 863,525 480,863
Directors' current accounts 114,466 112,929
Accruals and deferred income 295,985 168,338
1,751,980 1,227,936

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30/4/24 30/4/23
£    £   
Bank loans (see note 15) 1,643,995 1,823,700

15. LOANS

An analysis of the maturity of loans is given below:

30/4/24 30/4/23
£    £   
Amounts falling due within one year or on demand:
Bank loans 177,279 174,854

Amounts falling due between two and five years:
Bank loans - 2-5 years 709,118 699,417

Amounts falling due in more than five years:

SNAPDRAGONS NURSERIES LIMITED (REGISTERED NUMBER: 04399758)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

15. LOANS - continued
30/4/24 30/4/23
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 934,877 1,124,283

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30/4/24 30/4/23
£    £   
Within one year 417,401 325,352
Between one and five years 1,936,832 1,284,696
In more than five years 1,438,798 1,254,985
3,793,031 2,865,033

17. SECURED DEBTS

The following secured debts are included within creditors:

30/4/24 30/4/23
£    £   
Bank loans 1,821,274 1,998,554

The bank loans are secured via charges against the land and freehold properties listed as follows:

Henley lodge, Weston, Bath.
98 Redland Road, Redland, Bristol

The company has a loan with HSBC with an interest rate of Base Rate+ 1.75%.

Upon the transfer of the properties to Snapdragons (Holdings) Ltd, it was agreed to leave the loans as they were and the Bank has taken a new cross guarantee between Holdings and Snapdragons Nurseries Ltd along with the new legal charges.

The restructure has resulted in new security arrangements but not new loans.

18. PROVISIONS FOR LIABILITIES
30/4/24 30/4/23
£    £   
Deferred tax 257,397 65,258

Deferred
tax
£   
Balance at 1 May 2023 65,258
Provided during year 192,139
Accelerated capital allowances
Potential CGTon property
Balance at 30 April 2024 257,397

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/4/24 30/4/23
value: £    £   
14,500 Ordinary 1p 145 145

SNAPDRAGONS NURSERIES LIMITED (REGISTERED NUMBER: 04399758)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

19. CALLED UP SHARE CAPITAL - continued

Attached to the above shares are the following rights, preferences and restrictions:

Ordinary - Full voting rights, right to receive dividends and participate in any distributions.

20. RESERVES
Retained Other
earnings reserve Totals
£    £    £   

At 1 May 2023 (1,209,444 ) 1,795,684 586,240
Profit for the year 629,065 629,065
Dividends (355,000 ) (355,000 )
At 30 April 2024 (935,379 ) 1,795,684 860,305

Other reserves consist of the reduction in capital transaction, which took place during the year ending 30 April 2022. These are distributable reserves.

21. PARENT COMPANY

The parent company is Snapdragons (Holdings) Ltd.

22. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

30/4/24 30/4/23
£    £   
P H Collard
Balance outstanding at start of year (15,802 ) 8,957
Amounts advanced 227,564 127,379
Amounts repaid (197,700 ) (152,138 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,062 (15,802 )

Mrs J S Biddel
Balance outstanding at start of year (2,893 ) (17,120 )
Amounts advanced 76,342 100,727
Amounts repaid (82,500 ) (86,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (9,051 ) (2,893 )

J Collard
Balance outstanding at start of year (30,800 ) (47,964 )
Amounts advanced 76,349 103,923
Amounts repaid (82,500 ) (86,759 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (36,951 ) (30,800 )

SNAPDRAGONS NURSERIES LIMITED (REGISTERED NUMBER: 04399758)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

22. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Miss S O Collard
Balance outstanding at start of year (45,261 ) (24,511 )
Amounts advanced 61,813 50,250
Amounts repaid (70,948 ) (71,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (54,396 ) (45,261 )

Miss I A Collard
Balance outstanding at start of year (18,226 ) (34,991 )
Amounts advanced 31,160 53,765
Amounts repaid (27,000 ) (37,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (14,066 ) (18,226 )

23. RELATED PARTY DISCLOSURES

Rent amounting to £358,147 (2023 £320,519) was paid to other related parties in relation to four properties that were used by the company as nurseries.

Included in debtors is a balance owed from Snapdragons (Holdings) Ltd of £268,766 (2023 £976,528)