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Registered number: 14143039









LITTLE ELMS DAYCARE NURSERY PROPERTY HOLDING COMPANY BROMLEY LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
LITTLE ELMS DAYCARE NURSERY PROPERTY HOLDING COMPANY BROMLEY LIMITED
REGISTERED NUMBER: 14143039

BALANCE SHEET
AS AT 31 MAY 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Investment property
  
2,200,000
1,505,813

  
2,200,000
1,505,813

Current assets
  

Debtors: amounts falling due within one year
 5 
990,100
100

Cash at bank and in hand
  
100
-

  
990,200
100

Creditors: amounts falling due within one year
 7 
(1,639,153)
(1,505,813)

Net current liabilities
  
 
 
(648,953)
 
 
(1,505,713)

Total assets less current liabilities
  
1,551,047
100

Creditors: amounts falling due after more than one year
  
(877,869)
-

Provisions for liabilities
  

Deferred tax
  
(173,547)
-

  
 
 
(173,547)
 
 
-

Net assets
  
499,631
100


Capital and reserves
  

Called up share capital 
 12 
100
100

Revaluation reserve
 13 
520,640
-

Profit and loss account
 13 
(21,109)
-

  
499,631
100

Page 1

 
LITTLE ELMS DAYCARE NURSERY PROPERTY HOLDING COMPANY BROMLEY LIMITED
REGISTERED NUMBER: 14143039
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

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 profit and loss account 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 on 22 February 2025.




M Lancaster
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
LITTLE ELMS DAYCARE NURSERY PROPERTY HOLDING COMPANY BROMLEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Little Elms Daycare Nursery Property Holding Company Bromley Limited is a private company, limited by shares, registered in England and Wales. Its registered office address is 29 Beckenham Road, Beckenham, Kent, BR3 4PR. The company's principal activity is that of property holding.

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 reviewed and considered the company working capital requirements and the directors are of the opinion that the company will be able to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements. They therefore consider it appropriate to continue to prepare the financial statements 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

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
LITTLE ELMS DAYCARE NURSERY PROPERTY HOLDING COMPANY BROMLEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet 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 balance sheet 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 balance sheet date.


 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
LITTLE ELMS DAYCARE NURSERY PROPERTY HOLDING COMPANY BROMLEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Investment property


Investment property

£



Valuation


At 1 June 2023
1,505,813


Surplus on revaluation
694,187



At 31 May 2024
2,200,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.





Page 5

 
LITTLE ELMS DAYCARE NURSERY PROPERTY HOLDING COMPANY BROMLEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
990,000
-

Other debtors
100
100

990,100
100



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
100
-



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
116,490
-

Amounts owed to group undertakings
35,683
-

Other creditors
1,470,780
1,505,813

Accruals and deferred income
16,200
-

1,639,153
1,505,813



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
877,869
-


Page 6

 
LITTLE ELMS DAYCARE NURSERY PROPERTY HOLDING COMPANY BROMLEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
116,490
-

Amounts falling due 1-2 years

Bank loans
116,490
-

Amounts falling due 2-5 years

Bank loans
761,379
-


994,359
-


During the year, the Company entered into a bank loan agreement. The loan is secured over the assets over the business and is repayable on or before March 2029.


10.


Secured debts

The loan is secured by way of a fixed charge over property, other debts, chattels, goodwill and uncalled capital and a floating charge over all assets.


11.


Deferred taxation




2024


£






Charged to profit or loss
173,547



At end of year
173,547

The deferred taxation balance is made up as follows:

2024
2023
£
£


Deferred tax on revaluation of investment property
173,547
-

Page 7

 
LITTLE ELMS DAYCARE NURSERY PROPERTY HOLDING COMPANY BROMLEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



13.


Reserves

Revaluation reserve

The revaluation reserve comprises of accumulated revaluation gains and losses, net of any deferred tax and other adjustments.

Profit and loss account

The profit and loss account represents cumulative distributable profits and losses net of dividends and other adjustments.


14.


Prior year adjustment

The comparative figures for the year ended 31 May 2023 and 31 May 2022 have been restated to correctly reclassify freehold property included within tangible fixed assets, to investment property, in order to comply with the requirements of Financial Reporting Standard FRS102 – Section 1A.


15.


Related party transactions

The Company has taken advantage of the exemption, under FRS 102 paragraph 1.12 and paragraph 33.1A from disclosing transactions with key management and from disclosing other related party transactions as they are with other companies that are wholly owned within the group.
At the year end, included within other creditors, are amounts of £1,470,780 
(2023 - £1,505,813) due to a Company under the control of the directors.


16.


Controlling party

The ultimate controlling party is M Lancaster and S Lancaster.
The ultimate parent company is Little Elms Daycare Nurseries Property Holding Company Limited. Its registered office is 29 Beckenham Road, Beckenham, Kent, England, BR3 4PR.


17.


Auditors' information

The auditors' report on the financial statements for the year ended 31 May 2024 was unqualified.

The audit report was signed on 24 February 2025 by Adam Dodds (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 8