18 18 Paint Pots Montessori Schools Limited 05446065 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is the running of Montessori Schools Digita Accounts Production Advanced 6.30.9574.0 true true 05446065 2023-09-01 2024-08-31 05446065 2024-08-31 05446065 bus:OrdinaryShareClass1 2024-08-31 05446065 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2024-08-31 05446065 core:CurrentFinancialInstruments 2024-08-31 05446065 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 05446065 core:FurnitureFittingsToolsEquipment 2024-08-31 05446065 bus:SmallEntities 2023-09-01 2024-08-31 05446065 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 05446065 bus:FilletedAccounts 2023-09-01 2024-08-31 05446065 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 05446065 bus:RegisteredOffice 2023-09-01 2024-08-31 05446065 bus:CompanySecretary1 2023-09-01 2024-08-31 05446065 bus:Director2 2023-09-01 2024-08-31 05446065 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 05446065 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05446065 bus:Agent1 2023-09-01 2024-08-31 05446065 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 05446065 countries:AllCountries 2023-09-01 2024-08-31 05446065 2023-08-31 05446065 core:FurnitureFittingsToolsEquipment 2023-08-31 05446065 2022-09-01 2023-08-31 05446065 2023-08-31 05446065 bus:OrdinaryShareClass1 2023-08-31 05446065 core:CurrentFinancialInstruments 2023-08-31 05446065 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 05446065 core:FurnitureFittingsToolsEquipment 2023-08-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 05446065

Paint Pots Montessori Schools Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Paint Pots Montessori Schools Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2 to 3

Approval - vertical

3

Notes to the Unaudited Financial Statements

4 to 9

 

Paint Pots Montessori Schools Limited

Company Information
__________________________________________________________________________

Director

G Hood

Company secretary

J Seagrim

Registered office

Abbey House
342 Regents Park Road
N3 2LJ


 

Accountants

Brooks Green
Chartered AccountantsAbbey House
342 Regents Park Road
London
N3 2LJ

 

Paint Pots Montessori Schools Limited

(Registration number: 05446065)
Balance Sheet as at 31 August 2024
__________________________________________________________________________

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

3

 

57,722

 

61,437

Other financial assets

4

 

42,167

 

42,167

   

99,889

 

103,604

Current assets

   

 

Stocks

5

5,339

 

4,359

 

Debtors

6

149,269

 

136,889

 

Cash at bank and in hand

 

42,956

 

94,196

 

 

197,564

 

235,444

 

Creditors: Amounts falling due within one year

7

(468,995)

 

(520,001)

 

Net current liabilities

   

(271,431)

 

(284,557)

Net liabilities

   

(171,542)

 

(180,953)

Capital and reserves

   

 

Called up share capital

8

1

 

1

 

Retained earnings

(171,543)

 

(180,954)

 

Shareholders' deficit

   

(171,542)

 

(180,953)

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 her 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Paint Pots Montessori Schools Limited

(Registration number: 05446065)
Balance Sheet as at 31 August 2024
__________________________________________________________________________

Approved and authorised by the director on 13 February 2025
 


G Hood

Director

 

Paint Pots Montessori Schools Limited

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

1

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Going concern

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.

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

Furniture, fittings and equipment

25% on reducing balance basis

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.

 

Paint Pots Montessori Schools Limited

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

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

 

Paint Pots Montessori Schools Limited

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

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.

 

Paint Pots Montessori Schools Limited

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

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 18 (2023 - 18).

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

171,946

171,946

Additions

10,698

10,698

At 31 August 2024

182,644

182,644

Depreciation

At 1 September 2023

105,681

105,681

Charge for the year

19,241

19,241

At 31 August 2024

124,922

124,922

Carrying amount

At 31 August 2024

57,722

57,722

At 31 August 2023

61,437

61,437

 

Paint Pots Montessori Schools Limited

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

4

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 September 2023

42,167

42,167

At 31 August 2024

42,167

42,167

Impairment

Carrying amount

At 31 August 2024

42,167

42,167

5

Stocks

2024
£

2023
£

Other inventories

5,339

4,359

 

Paint Pots Montessori Schools Limited

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

6

Debtors

2024
£

2023
£

Trade debtors

128,307

111,114

Other debtors

20,962

25,775

149,269

136,889


 

Current

2024
£

2023
£

Trade debtors

128,307

111,114

Prepayments

-

2,688

Other debtors

20,962

23,087

 

149,269

136,889

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

18,957

28,950

Trade creditors

 

4,509

14,131

Taxation and social security

 

13,302

12,254

Accruals and deferred income

 

5,146

5,449

Other creditors

 

427,081

459,217

 

468,995

520,001

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1