Registration number:
YMCW Nursery Limited
trading as
for the Year Ended 31 July 2024
YMCW Nursery Limited
trading as Benjamin Rabbit Nursery
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
YMCW Nursery Limited
trading as Benjamin Rabbit Nursery
Company Information
Director |
YMC Waltham |
Registered office |
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YMCW Nursery Limited
trading as Benjamin Rabbit Nursery
(Registration number: 08610684)
Balance Sheet as at 31 July 2024
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2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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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:
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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
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YMCW Nursery Limited
trading as Benjamin Rabbit Nursery
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
YMCW Nursery Limited
trading as Benjamin Rabbit Nursery
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)
Tangible assets |
Leasehold improvements |
Long leasehold land and buildings |
Fixtures and fittings |
Equipment |
Computer equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 August 2023 |
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Additions |
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Disposals |
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At 31 July 2024 |
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Depreciation |
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At 1 August 2023 |
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Charge for the year |
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Eliminated on disposal |
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At 31 July 2024 |
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Carrying amount |
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At 31 July 2024 |
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At 31 July 2023 |
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YMCW Nursery Limited
trading as Benjamin Rabbit Nursery
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)
Debtors |
Current |
Note |
2024 |
2023 |
Trade debtors |
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Amounts owed by related parties |
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Prepayments |
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Other debtors |
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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).
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
2024 |
2023 |
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Due after one year |
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Deferred income |
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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 £