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Registration number: 08610684

YMCW Nursery Limited

trading as Benjamin Rabbit Nursery

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

YMCW Nursery Limited

trading as Benjamin Rabbit Nursery

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

YMCW Nursery Limited

trading as Benjamin Rabbit Nursery

Company Information

Director

YMC Waltham

Registered office

Little Tax Oast
Old Hay
Brenchley
Kent
TN12 7DG

 

YMCW Nursery Limited

trading as Benjamin Rabbit Nursery

(Registration number: 08610684)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

500,291

509,808

Current assets

 

Debtors

5

61,916

46,808

Cash at bank and in hand

 

824,472

585,027

 

886,388

631,835

Creditors: Amounts falling due within one year

6

(136,900)

(146,709)

Net current assets

 

749,488

485,126

Total assets less current liabilities

 

1,249,779

994,934

Creditors: Amounts falling due after more than one year

6

(21,867)

(23,467)

Net assets

 

1,227,912

971,467

Capital and reserves

 

Called up share capital

1

1

Retained earnings

1,227,911

971,466

Shareholders' funds

 

1,227,912

971,467

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

YMCW Nursery Limited

trading as Benjamin Rabbit Nursery

(Registration number: 08610684)
Balance Sheet as at 31 July 2024 (continued)

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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.

Approved and authorised by the director on 27 February 2025
 

.........................................
YMC Waltham
Director

   
     
 

YMCW Nursery Limited

trading as Benjamin Rabbit Nursery

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Little Tax Oast
Old Hay
Brenchley
Kent
TN12 7DG

These financial statements were authorised for issue by the director on 27 February 2025.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of rebates and discounts.

The company recognises revenue only when the amount of revenue can be reliably measured.

The company's turnover comprises fees for the provision of children's nursery services. Nursery fees paid in advance are recorded as deferred income and only recognised as part of income in the period to which they relate.

 

YMCW Nursery Limited

trading as Benjamin Rabbit Nursery

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants relating to tangible fixed assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant is deferred, it is recognised as deferred income and included in creditors. Revenue grants are recognised in the period in which the related cost was incurred.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

The cost of toys, except those relating to outdoor play equipment, are written off as incurred on the basis that their expected useful life does not exceed one year.

Depreciation

Depreciation is charged so as to write off the cost of assets less their estimated residual value over their expected useful economic lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% straight line

Computer equipment

33% straight line

Equipment

20% straight line

Motor vehicles

20% straight line

Premises set-up costs (Chatham)

Over the period of the 25 year lease

Long leasehold land (Holborough)

Over remaining term of the 125 year lease

Long leasehold building (Holborough)

Over estimated 50 year useful life

 

YMCW Nursery Limited

trading as Benjamin Rabbit Nursery

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

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.

Trade debtors

Trade debtors are amounts due from customers for services provided 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.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

YMCW Nursery Limited

trading as Benjamin Rabbit Nursery

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 38 (2023 - 37).

 

YMCW Nursery Limited

trading as Benjamin Rabbit Nursery

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

4

Tangible assets

Leasehold improvements
£

Long leasehold land and buildings
£

Fixtures and fittings
£

Equipment
£

Computer equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

81,220

459,167

6,660

29,556

8,437

28,134

613,174

Additions

-

-

3,500

-

6,714

-

10,214

Disposals

-

-

-

-

(3,597)

-

(3,597)

At 31 July 2024

81,220

459,167

10,160

29,556

11,554

28,134

619,791

Depreciation

At 1 August 2023

45,705

14,774

3,916

19,956

4,881

14,134

103,366

Charge for the year

2,220

7,387

2,308

3,200

3,417

-

18,532

Eliminated on disposal

-

-

-

-

(2,398)

-

(2,398)

At 31 July 2024

47,925

22,161

6,224

23,156

5,900

14,134

119,500

Carrying amount

At 31 July 2024

33,295

437,006

3,936

6,400

5,654

14,000

500,291

At 31 July 2023

35,515

444,393

2,744

9,600

3,556

14,000

509,808

 

YMCW Nursery Limited

trading as Benjamin Rabbit Nursery

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

3,274

6,131

Amounts owed by related parties

3,099

1,959

Prepayments

 

39,162

34,817

Other debtors

 

16,381

3,901

   

61,916

46,808

Details of non-current trade and other debtors

Included within other debtors is an amount receivable in more than one year of £9,865 (2023: £nil).

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

5,492

5,971

Taxation and social security

100,160

110,156

Accruals and deferred income

27,100

27,339

Other creditors

4,148

3,243

136,900

146,709

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Deferred income

21,867

23,467

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £696,000 (2023 - £744,000). In addition, the company has an annual commitment in respect of the staff auto-enrolment pension scheme equal to 3% of the qualifying earnings of the employees who elected to join the scheme. This is equivalent to an estimated annual amount of £7,800 (2023 - £6,700).