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Registered Number: 09175049
England and Wales

 

 

 

CHESTNUT NURSERY SCHOOL (NORFOLK) LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Chestnut Nursery School (Norfolk) Limited for the year ended 31 July 2024.
       
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Chestnut Nursery School (Norfolk) Limited for the year ended 31 July 2024 which comprise of the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.  This report is made solely to the Board of Directors of Chestnut Nursery School (Norfolk) Limited, as a body, in accordance with the terms of our engagement letter dated 1st February 2019. Our work has been undertaken solely to prepare for your approval the accounts of Chestnut Nursery School (Norfolk) Limited and state those matters that we have agreed to state to the Board of Directors of Chestnut Nursery School (Norfolk) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chestnut Nursery School (Norfolk) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Chestnut Nursery School (Norfolk) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Chestnut Nursery School (Norfolk) Limited . You consider that Chestnut Nursery School (Norfolk) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Chestnut Nursery School (Norfolk) Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. 
   
31 July 2024



....................................................
aa Chartered Accountants
Fenlake House,
Fenlake Business Centre,
Fengate,
Peterborough,
PE1 5BQ
27 February 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 4 5,997    18,457 
Tangible fixed assets 5 354,244    244,860 
360,241    263,317 
Current assets      
Debtors: amounts falling due within one year (86,368)   (84,804)
Cash at bank and in hand 747,979    603,167 
661,611    518,363 
Creditors: amount falling due within one year (589,493)   (578,400)
Net current assets 72,118    (60,037)
 
Total assets less current liabilities 432,359    203,280 
Creditors: amount falling due after more than one year (130,145)   (162,002)
Provisions for liabilities (37,220)   (30,318)
Net assets 264,994    10,960 
 

Capital and reserves
     
Called up share capital 6 10,000    10,000 
Profit and loss account 254,994    960 
Shareholders' funds 264,994    10,960 
 


For the 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.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 27 February 2025 and were signed on its behalf by:


-------------------------------
Steven Davies
Director
2
General Information
Chestnut Nursery School (Norfolk) Limited is a private company, limited by shares, registered in England and Wales, registration number 09175049, registration address 177 Earlham Grove Forest Gate, London, E7 9AP.

The presentation currency is £ sterling
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Group accounts
The company is a subsidiary company of Chestnut Nursery School Limited registration number 04424281 and are subject to the small companies regime. The company and its Parent comprise a small group. The Parent company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Going concern basis
The financial statements have been prepared on a going concern basis.    
If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.                       
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 period 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 taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
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 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.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 10% Straight Line
Motor Vehicles 20% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 33.3% Straight Line
Impairment of fixed assets
The company reviews at the end of the reporting period the carrying amounts of tangible and intangible assets to establish whether or not the assets have incurred a impairment loss.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
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.
2.

Average number of employees


Average number of employees during the year was 126 (2023 : 114).
3.

Financial Commitments, Guarantees and Contingencies

Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases as follows:
Particulars 2024
£
 2023
£
Rent due within 1 year318,801 335,068 
Rent due more than 1 year3,656,322 1,551,989 
3,975,123 1,887,057 





4.

Intangible fixed assets

Cost Goodwill   Other   Total
  £   £   £
At 01 August 2023 90,000    275,000    365,000 
Additions    
Disposals    
At 31 July 2024 90,000    275,000    365,000 
Amortisation
At 01 August 2023 85,667    260,876    346,543 
Charge for year 4,000    8,460    12,460 
On disposals    
At 31 July 2024 89,667    269,336    359,003 
Net book values
At 31 July 2024 333    5,664    5,997 
At 31 July 2023 4,333    14,124    18,457 


5.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 August 2023 107,515    5,820    285,563    26,741    425,639 
Additions 147,083    16,000    28,211    5,911    197,205 
Disposals     (16,382)   (3,973)   (20,355)
At 31 July 2024 254,598    21,820    297,392    28,679    602,489 
Depreciation
At 01 August 2023 9,573    4,462    153,339    13,405    180,779 
Charge for year 21,956    4,364    48,957    8,296    83,573 
On disposals     (12,216)   (3,891)   (16,107)
At 31 July 2024 31,529    8,826    190,080    17,810    248,245 
Net book values
Closing balance as at 31 July 2024 223,069    12,994    107,312    10,869    354,244 
Opening balance as at 01 August 2023 97,942    1,358    132,224    13,336    244,860 


6.

Share Capital

Authorised
10,000 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
10,000 Class A shares of £1.00 each 10,000    10,000 
10,000    10,000 

3