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REGISTERED NUMBER: 06798690 (England and Wales)






Future Einsteins (Wakefield) Limited

Financial Statements

for the Year Ended 29 April 2024






Future Einsteins (Wakefield) Limited (Registered number: 06798690)

Contents of the Financial Statements
for the year ended 29 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Future Einsteins (Wakefield) Limited

Company Information
for the year ended 29 April 2024







DIRECTORS: Mrs C B Cody-Owen
Mrs G L Lamport
Mr H J M Cody-Owen
Ms G Cody-Owen





REGISTERED OFFICE: 43 Philip Garth
Outwood
Wakefield
West Yorkshire
WF1 2LS





REGISTERED NUMBER: 06798690 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Future Einsteins (Wakefield) Limited (Registered number: 06798690)

Balance Sheet
29 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 50,000 60,000
Tangible assets 5 247,272 254,258
297,272 314,258

CURRENT ASSETS
Debtors 6 199,513 216,637
Cash at bank 356,132 322,306
555,645 538,943
CREDITORS
Amounts falling due within one year 7 206,951 256,794
NET CURRENT ASSETS 348,694 282,149
TOTAL ASSETS LESS CURRENT
LIABILITIES

645,966

596,407

CREDITORS
Amounts falling due after more than one
year

8

(267,604

)

(275,824

)

PROVISIONS FOR LIABILITIES (2,481 ) (2,566 )
NET ASSETS 375,881 318,017

Future Einsteins (Wakefield) Limited (Registered number: 06798690)

Balance Sheet - continued
29 April 2024

2024 2023
Notes £    £    £    £   

CAPITAL AND RESERVES
Called up share capital 10 101 101
Retained earnings 375,780 317,916
SHAREHOLDERS' FUNDS 375,881 318,017

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by:





Mrs C B Cody-Owen - Director


Future Einsteins (Wakefield) Limited (Registered number: 06798690)

Notes to the Financial Statements
for the year ended 29 April 2024


1. STATUTORY INFORMATION

Future Einsteins (Wakefield) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The functional and presentational currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts invoiced during the year for child day-care services.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Fixed assets are initially recorded at cost.

Financial instruments
The company has elected to apply the provision of Section 11 "Basic Financial Information" and Section 12 "Other Financial Issues" of FRS 102 to all 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Future Einsteins (Wakefield) Limited (Registered number: 06798690)

Notes to the Financial Statements - continued
for the year ended 29 April 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 30 April 2023
and 29 April 2024 200,000
AMORTISATION
At 30 April 2023 140,000
Charge for year 10,000
At 29 April 2024 150,000
NET BOOK VALUE
At 29 April 2024 50,000
At 29 April 2023 60,000

Future Einsteins (Wakefield) Limited (Registered number: 06798690)

Notes to the Financial Statements - continued
for the year ended 29 April 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 30 April 2023 332,314 18,702 5,879 6,600 363,495
Additions - 2,624 - - 2,624
At 29 April 2024 332,314 21,326 5,879 6,600 366,119
DEPRECIATION
At 30 April 2023 88,558 13,694 3,712 3,273 109,237
Charge for year 6,646 1,590 542 832 9,610
At 29 April 2024 95,204 15,284 4,254 4,105 118,847
NET BOOK VALUE
At 29 April 2024 237,110 6,042 1,625 2,495 247,272
At 29 April 2023 243,756 5,008 2,167 3,327 254,258

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,117 1,004
Amounts due from associated company 191,859 212,812
Directors' current accounts - 150
Prepayments 2,537 2,671
199,513 216,637

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,824 9,377
Trade creditors 10,214 11,714
Tax 34,714 25,068
Social security and other taxes - 2,568
Other creditors 1,846 2,926
Directors' current accounts 18,045 45,391
Accruals and deferred income 67,356 91,966
Deferred government grants 65,952 67,784
206,951 256,794

Future Einsteins (Wakefield) Limited (Registered number: 06798690)

Notes to the Financial Statements - continued
for the year ended 29 April 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 8,824 9,377
Bank loans - 2-5 years 26,471 28,132
Bank loans repayable after more than 5 yrs 232,309 238,315
267,604 275,824

Amounts falling due in more than five years:

Repayable by instalments
Bank loans repayable after more than 5 yrs 232,309 238,315

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 276,428 285,201

Bank borrowings are secured by way of a fixed and floating charges over the freehold property and all other assets held by the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 B Ordinary £1 1 1
100 A Ordinary £1 100 100
101 101

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 April 2024 and 29 April 2023:

2024 2023
£    £   
Mrs G L Lamport
Balance outstanding at start of year 150 -
Amounts advanced - 150
Amounts repaid (150 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 150