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Registration number: 03926577

Seren Fach Childcare Limited

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 August 2024

 

Seren Fach Childcare Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Seren Fach Childcare Limited

Company Information

Directors

 

Mrs V Raymond

Mrs NJ Davison

Mrs BI Board

Mr P Board

Company secretary

Mr P Board

Registered office

Seren Fach Nursery
School Close
Ponthir
Newport
South Wales
NP18 1GA

 

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Seren Fach Childcare Limited

(Registration number: 03926577)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

469,675

478,441

Current assets

 

Debtors

14,358

8,673

Cash at bank and in hand

 

242,804

347,853

 

257,162

356,526

Prepayments and accrued income

 

2,660

2,522

Creditors: Amounts falling due within one year

(64,146)

(84,202)

Net current assets

 

195,676

274,846

Total assets less current liabilities

 

665,351

753,287

Creditors: Amounts falling due after more than one year

(17,478)

(27,553)

Accruals and deferred income

 

(4,571)

(4,384)

Net assets

 

643,302

721,350

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

643,202

721,250

Shareholders' funds

 

643,302

721,350

 

Seren Fach Childcare Limited

(Registration number: 03926577)
Abridged Balance Sheet as at 31 August 2024

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.

Directors' 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 directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 Board on 30 January 2025 and signed on its behalf by:
 

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

Mrs NJ Davison
Director

 

Seren Fach Childcare Limited

Notes to the Unaudited Abridged 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:
Seren Fach Nursery
School Close
Ponthir
Newport
South Wales
NP18 1GA

These financial statements were authorised for issue by the Board on 30 January 2025.

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 abridged 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 abridged 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.

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 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 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.

 

Seren Fach Childcare Limited

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

Motor vehicles

25% Straight line

Fixtures, fittings and equipment

25% Reducing balance

Short leasehold land and buildings improvements

2% Straight line

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.

 

Seren Fach Childcare Limited

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

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.

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 directors) during the year, was 48 (2023 - 44).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

16,596

16,311

 

Seren Fach Childcare Limited

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

5

Tangible assets

Short leasehold land and buildings improvements
£

Fixtures, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

504,894

129,839

19,222

653,955

Additions

6,672

1,425

-

8,097

Disposals

-

(1,124)

-

(1,124)

At 31 August 2024

511,566

130,140

19,222

660,928

Depreciation

At 1 September 2023

51,778

104,514

19,222

175,514

Charge for the year

10,187

6,409

-

16,596

Eliminated on disposal

-

(857)

-

(857)

At 31 August 2024

61,965

110,066

19,222

191,253

Carrying amount

At 31 August 2024

449,601

20,074

-

469,675

At 31 August 2023

453,116

25,325

-

478,441

Included within the net book value of land and buildings above is £449,601 (2023 - £453,116) in respect of short leasehold land and buildings improvements.
 

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Seren Fach Childcare Limited

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

7

Related party transactions

Key management personnel

Relationship: Directors

Summary of transactions with key management

During the year the directors made unsecured, interest free, repayabe on demand loans to the company. At the balance sheet date the amount owed to the directors was £526 (2023 - £492).