Registered number: 08139506
PIONEER CHILDCARE LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 30 JUNE 2024
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PIONEER CHILDCARE LIMITED
REGISTERED NUMBER: 08139506
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024
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Creditors: amounts falling due within one year
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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M Clare
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The notes on pages 3 to 8 form part of these financial statements.
Page 1
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PIONEER CHILDCARE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 JUNE 2024
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At 1 September 2022 (as previously stated)
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Prior year adjustment - correction of error
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At 1 September 2022 (as restated)
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Profit for the year (as restated)
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The notes on pages 3 to 8 form part of these financial statements.
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Page 2
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PIONEER CHILDCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
Pioneer Childcare Limited is a private company, limited by shares, and incorporated in England and Wales. The Company's registered number is 08139506 and registered office address is 2 Delaware Road, Haywards Heath, England, RH16 3UX.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The company has net current assets of £828,748 (2023: £295,454, net current assets) and total net assets of £847,253 (2023: £315,878 total net assets restated) at the Statement of Financial Position date. The financial statements have been prepared on a going concern basis. The directors have considered relevant information, including the annual budget, forecast future cash flows, continued profitability, and the impact of subsequent events in making their assessment.
Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the directors' report and accounts.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.
Page 3
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PIONEER CHILDCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
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Fixtures, fittings, tools and equipment
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Page 4
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PIONEER CHILDCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
2.Accounting policies (continued)
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Short-term debtors are measured at transaction price, less any impairment.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The average monthly number of employees, including directors, during the period was 216 (year ended 31 August 2023: 140).
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Page 5
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PIONEER CHILDCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
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At 1 September 2023 (as previously stated)
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Prior Year Adjustment (see note 8)
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At 1 September 2023 (as restated)
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At 1 September 2023 (as previously stated)
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Prior Year Adjustment (see note 8)
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At 1 September 2023 (as restated)
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At 31 August 2023 (as restated)
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Page 6
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PIONEER CHILDCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
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Fixtures, fittings, tools and equipment
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Amounts owed by group undertakings
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Amounts owed by group undertakings are interest free, and payable on demand.
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Page 7
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PIONEER CHILDCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
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Creditors: amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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The 2023 balances have been restated. An intangible asset balance of £283,609 had been recognised in respect of an investment in Class of Their Own Limited. This balance was in relation to the investment made by the Company in Class of Their Own Limited which has subsequently been liquidated. The prior period financial information has been adjusted to remove this intangible asset from the Stateemnt of Financial Position as it no longer existed following the liquidiation of Class of Their Own Limited.
The effect of this adjustment on the 31 August 2023 financial information is to reduce intangible assets by £283,609, increase administration expenses by £32,435 and to reduce the brought forward retained earnings in equity by £251,174.
The Company's immediate parent company is JAG UK Bidco Limited, a company incorporated in England and Wales.
The Company's ultimate parent company is Panther Topco Pty Ltd, a company incorporated in Australia. Its registered office address is 126-130 Phillip Street, Sydney, New South Wales, Australia.
There is no ultimate controlling party.
The auditors' report on the financial statements for the period ended 30 June 2024 was unqualified.
The audit report was signed on 24 March 2025 by Michael Crowson (Senior Statutory Auditor) on behalf of HaysMac LLP.
Page 8
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