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Registered number: 04717830
Kings Farm Day Nursery Limited
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: 04717830
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 2,565 2,468
2,565 2,468
CURRENT ASSETS
Debtors 6 50,000 50,000
Cash at bank and in hand 10,428 10,904
60,428 60,904
Creditors: Amounts Falling Due Within One Year 7 (83,731 ) (72,587 )
NET CURRENT ASSETS (LIABILITIES) (23,303 ) (11,683 )
TOTAL ASSETS LESS CURRENT LIABILITIES (20,738 ) (9,215 )
Creditors: Amounts Falling Due After More Than One Year 8 (10,682 ) (20,827 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,971 ) (6,221 )
NET LIABILITIES (34,391 ) (36,263 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (34,392 ) (36,264 )
SHAREHOLDERS' FUNDS (34,391) (36,263)
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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
Mrs E Potts
Director
23 January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Kings Farm Day Nursery Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04717830 . The registered office is 550 Valley Road, Basford, Nottingham, Nottinghamshire, NG5 1JJ.
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. Going Concern Disclosure
At 31st May 2024, the company had net liabilities of £34,391. The company is reliant on the continued support of the director. The director has confirmed her intention to support the company for at least twelve months from the date of signing the accounts.
On the above basis, the directors consider that the accounts should be prepared on a going concern basis.
2.3. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
2.4. 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. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.5. 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:
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
Computer Equipment 25% Reducing balance
2.6. 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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 14)
14 14
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 58,715
As at 31 May 2024 58,715
Amortisation
As at 1 June 2023 58,715
As at 31 May 2024 58,715
Net Book Value
As at 31 May 2024 -
As at 1 June 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 10,677 11,041 23,954 7,447 53,119
Additions - - 965 - 965
As at 31 May 2024 10,677 11,041 24,919 7,447 54,084
Depreciation
As at 1 June 2023 10,452 10,323 23,421 6,455 50,651
Provided during the period 57 186 377 248 868
As at 31 May 2024 10,509 10,509 23,798 6,703 51,519
Net Book Value
As at 31 May 2024 168 532 1,121 744 2,565
As at 1 June 2023 225 718 533 992 2,468
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 50,000 50,000
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,575 15,171
Bank loans and overdrafts 9,946 9,724
Other taxes and social security 23,913 10,449
Credit card 5,040 5,627
R M Potts loan 3,500 3,500
Accruals and deferred income 14,780 12,604
Director's loan account 2,802 1,337
Amounts owed to group undertakings 14,175 14,175
83,731 72,587
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,682 20,827
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Related Party Transactions
At the balance sheet date, the company owed the director £2,802 (2023:£1,336). The amount is unsecured, interest free, with no fixed repayment date. 
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