Company registration number 10879037 (England and Wales)
LITTLE DARLINGS NURSERY WALES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
LITTLE DARLINGS NURSERY WALES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
LITTLE DARLINGS NURSERY WALES LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
5,000
6,000
Tangible assets
4
5,540
6,676
10,540
12,676
Current assets
Debtors
5
19,836
93,520
Investments
6
92,845
Cash at bank and in hand
56,800
44,271
169,481
137,791
Creditors: amounts falling due within one year
7
(114,950)
(86,769)
Net current assets
54,531
51,022
Total assets less current liabilities
65,071
63,698
Creditors: amounts falling due after more than one year
8
(18,455)
(19,534)
Provisions for liabilities
1,378
1,701
Net assets
47,994
45,865
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
47,894
45,765
Total equity
47,994
45,865
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 5 March 2025 and are signed on its behalf by:
Mr C J Baker
Director
Company registration number 10879037 (England and Wales)
LITTLE DARLINGS NURSERY WALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information
Little Darlings Nursery Wales Limited is a private company limited by shares incorporated in England and Wales. The registered office is Eastmoors Road, Ocean Park, Cardiff, CF24 5XH.
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. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.4
Tangible fixed assets
Tangible fixed assets are measured at cost, 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:
Plant and equipment
20% straight line
Computers
20% straight line
Motor vehicles
20% straight line
LITTLE DARLINGS NURSERY WALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors and creditors with no stated interest rate and recoverable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.6
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 profit and loss account 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.
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 profit and loss account, 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.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
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.
LITTLE DARLINGS NURSERY WALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
1.10
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
17
18
3
Intangible fixed assets
Goodwill
£
Cost
At 1 August 2023 and 31 July 2024
10,000
Amortisation and impairment
At 1 August 2023
4,000
Amortisation charged for the year
1,000
At 31 July 2024
5,000
Carrying amount
At 31 July 2024
5,000
At 31 July 2023
6,000
LITTLE DARLINGS NURSERY WALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
4
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2023
26,512
4,800
31,312
Additions
5,338
5,338
At 31 July 2024
26,512
5,338
4,800
36,650
Depreciation and impairment
At 1 August 2023
20,796
3,840
24,636
Depreciation charged in the year
5,302
212
960
6,474
At 31 July 2024
26,098
212
4,800
31,110
Carrying amount
At 31 July 2024
414
5,126
5,540
At 31 July 2023
5,716
960
6,676
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
13,550
Other debtors
6,286
93,520
19,836
93,520
6
Current asset investments
2024
2023
£
£
Other investments
92,845
LITTLE DARLINGS NURSERY WALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
226
Amounts owed to group undertakings
41,114
Corporation tax
14,620
997
Other taxation and social security
3,440
2,796
Other creditors
45,776
72,750
114,950
86,769
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
18,455
19,534
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
10
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
154,757
201,124
11
Related party transactions
During the year, the company loaned money from The Learning Tree Day Nurseries Ltd. At the year end the amount owed to The Learning Tree Day Nurseries Ltd was £41,210 (2023 - £0), this amount is included in creditors: amounts falling due within one year. Mr C J Baker is a director of both The Learning Tree Day Nurseries Ltd and Little Darlings Nursery Wales Limited.
12
Directors' transactions
Dividends totalling £40,538 (2023 - £0) were paid in the year in respect of shares held by the company's director.
Advances or credits have been granted by the company to its directors as follows:
LITTLE DARLINGS NURSERY WALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
12
Directors' transactions
(Continued)
- 7 -
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Loan
-
92,845
50,324
(143,169)
-
92,845
50,324
(143,169)
-