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Company registration number: 14186711







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2024


STORTFORD DAYCARE LIMITED






































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STORTFORD DAYCARE LIMITED
 


 
COMPANY INFORMATION


Directors
S Naidu 
V Kapil 
A Sohab 
I Biswas 




Registered number
14186711



Registered office
Richmond House
Walkern Road

Stevenage

SG1 3QP




Accountants
Menzies LLP
Chartered Accountants

Richmond House

Walkern Road

Stevenage

SG1 3QP





 


STORTFORD DAYCARE LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 


STORTFORD DAYCARE LIMITED
REGISTERED NUMBER:14186711



STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
34,200
36,000

Tangible assets
 5 
451,116
119,950

  
485,316
155,950

Current assets
  

Debtors: amounts falling due within one year
 6 
1,879
-

Cash at bank and in hand
  
7,126
147,268

  
9,005
147,268

Creditors: amounts falling due within one year
 7 
(555,319)
(132,604)

Net current (liabilities)/assets
  
 
 
(546,314)
 
 
14,664

Total assets less current liabilities
  
(60,998)
170,614

Creditors: amounts falling due after more than one year
  
(184,000)
(200,000)

  

Net liabilities
  
(244,998)
(29,386)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(245,098)
(29,486)

  
(244,998)
(29,386)


Page 1

 


STORTFORD DAYCARE LIMITED
REGISTERED NUMBER:14186711


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
S Naidu
Director

Date: 5 February 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


STORTFORD DAYCARE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Stortford Daycare 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.
The presentation currency of the financial statements is the Pound Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have undertaken to continue their financial support of the company for the foreseeable future. On this basis they believe it is appropriate to prepare these accounts on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 


STORTFORD DAYCARE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 


STORTFORD DAYCARE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
20%
Fixtures and fittings
-
25%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.



 
2.8

Financial instruments

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 11).


4.


Intangible assets




Goodwill

£



Cost


At 1 May 2023
36,000



At 30 April 2024

36,000



Amortisation


Charge for the year on owned assets
1,800



At 30 April 2024

1,800



Net book value



At 30 April 2024
34,200



At 30 April 2023
36,000

Page 5

 


STORTFORD DAYCARE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
 
           4.Intangible assets (continued)




5.


Tangible fixed assets





Long-term leasehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 May 2023
119,950
-
-
119,950


Additions
313,969
27,331
2,115
343,415



At 30 April 2024

433,919
27,331
2,115
463,365



Depreciation


Charge for the year on owned assets
8,678
3,307
264
12,249



At 30 April 2024

8,678
3,307
264
12,249



Net book value



At 30 April 2024
425,241
24,024
1,851
451,116



At 30 April 2023
119,950
-
-
119,950


6.


Debtors

2024
2023
£
£


Prepayments and accrued income
1,879
-

1,879
-


Page 6

 


STORTFORD DAYCARE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,658
89,704

Amounts owed to associates
121,471
13,415

Other taxation and social security
10,360
-

Other creditors
293,158
29,485

Accruals and deferred income
126,672
-

555,319
132,604



8.


Related party transactions

At the balance sheet date the company owed £121,471 (2023: £13,415) to a connected company. The balance can be creditors due within one year. No Interest is being charged on this loan.
At the balance sheet date the company owed £282,985 (2023: £29,485) to the directors. The balance can be creditors due within one year. No Interest is being charged on this loan.

 
Page 7