Company registration number 07925966 (England and Wales)
STRAWBERRY FIELDS NURSERY SCHOOL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
STRAWBERRY FIELDS NURSERY SCHOOL LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
STRAWBERRY FIELDS NURSERY SCHOOL LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Intangible assets
4
14,586
21,880
Property and equipment
5
30,321
49,185
Investments
6
1,126,866
1,035,521
1,171,773
1,106,586
Current assets
Trade and other receivables
7
57,764
46,804
Cash and cash equivalents
1,618,335
1,213,282
1,676,099
1,260,086
Current liabilities
8
(989,103)
(871,105)
Net current assets
686,996
388,981
Total assets less current liabilities
1,858,769
1,495,567
Provisions for liabilities
(33,120)
(12,067)
Net assets
1,825,649
1,483,500
Equity
Called up share capital
10
1,002
1,002
Retained earnings
1,824,647
1,482,498
Total equity
1,825,649
1,483,500
STRAWBERRY FIELDS NURSERY SCHOOL LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 10 February 2025 and are signed on its behalf by:
Mrs M Turner
Director
Company registration number 07925966 (England and Wales)
STRAWBERRY FIELDS NURSERY SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information
Strawberry Fields Nursery School Limited is a private company limited by shares incorporated in England and Wales. The registered office is Nottinghill Community Church, Kensington Park Road, London, W11 2ES.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of stock market investments at fair value. The principal accounting policies adopted are set out below.
1.2
Revenue
Revenue is recognised for each terms fees and disbursements as accrued and due for the year. Fees paid in advance for subsequent years and deposits held are deferred to the balance sheet.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software
20% on straight line basis
Further development costs in the constructing of the app will be needed in the future but costs to date are being amortized over five years.
1.4
Property and equipment
Property and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
25% on cost from 1 September 2022
Fixtures, fittings & equipment
20% on cost
Computer equipment
50% on cost
Motor vehicles
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
STRAWBERRY FIELDS NURSERY SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies (Continued)
- 4 -
1.5
Non-current investments
Listed invetments are initially measured at transaction price including transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in other comprehensive income except to the extent that a gain reverses a loss previously recognised in profit or loss, or a loss exceeds the accumulated gains recognised in equity; such gains and loss are recognised in profit or loss.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. A defined contribution benefit scheme commenced on 1 September 2017.
STRAWBERRY FIELDS NURSERY SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies (Continued)
- 5 -
1.10
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.11
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
1.12
Strawberry Fields Nursery School Development and Parents Account
Various fundraising activities are held to raise funds for future school development and charitable causes. Gifts are also received for the benefit of the school. These monies are held in separate school bank accounts. These are not recognised as income but deferred to the balance sheet until the corresponding expenditure is made.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
14
14
STRAWBERRY FIELDS NURSERY SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
4
Intangible fixed assets
Other
£
Cost
At 1 September 2023 and 31 August 2024
36,468
Amortisation and impairment
At 1 September 2023
14,588
Amortisation charged for the year
7,294
At 31 August 2024
21,882
Carrying amount
At 31 August 2024
14,586
At 31 August 2023
21,880
5
Property and equipment
Leasehold improvements
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 September 2023
48,694
45,330
46,198
27,670
167,892
Additions
1,338
3,490
4,828
At 31 August 2024
48,694
46,668
49,688
27,670
172,720
Depreciation and impairment
At 1 September 2023
12,174
35,085
45,855
25,593
118,707
Depreciation charged in the year
12,174
4,456
6,369
693
23,692
At 31 August 2024
24,348
39,541
52,224
26,286
142,399
Carrying amount
At 31 August 2024
24,346
7,127
(2,536)
1,384
30,321
At 31 August 2023
36,520
10,245
343
2,077
49,185
6
Fixed asset investments
2024
2023
£
£
Other investments other than loans
1,126,866
1,035,521
STRAWBERRY FIELDS NURSERY SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
6
Fixed asset investments (Continued)
- 7 -
Movements in non-current investments
Investments
£
Cost or valuation
At 1 September 2023
1,035,521
Additions
506,732
Valuation changes
82,018
Movement on dealing account
21,434
Disposals
(518,839)
At 31 August 2024
1,126,866
Carrying amount
At 31 August 2024
1,126,866
At 31 August 2023
1,035,521
7
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
11,314
354
Other receivables
46,450
46,450
57,764
46,804
8
Current liabilities
2024
2023
£
£
Fees in advance and deposits held
642,583
598,395
Other taxation and social security
296,576
244,076
Other payables
49,944
28,634
989,103
871,105
STRAWBERRY FIELDS NURSERY SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 8 -
9
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
1,765
1,073
Investments
31,355
10,994
33,120
12,067
2024
Movements in the year:
£
Liability at 1 September 2023
12,067
Charge to other comprehensive income
21,053
Liability at 31 August 2024
33,120
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary 'A' £1 Shares of £1 each
1,000
1,000
1,000
1,000
Ordinary 'B' £1 Shares of £1 each
1
1
1
1
Ordinary 'C' £1 Shares of £1 each
1
1
1
1
1,002
1,002
1,002
1,002
11
Operating lease commitments
Lessee
The lease was renewed in August 2022 and will expire on 31 July 2027. At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
351,720
421,042
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