REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
for |
Orchard Garden Private Day Nursery |
Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
for |
Orchard Garden Private Day Nursery |
Limited |
Orchard Garden Private Day Nursery |
Limited (Registered number: 04839288) |
Contents of the Financial Statements |
for the Year Ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Orchard Garden Private Day Nursery |
Limited |
Company Information |
for the Year Ended 31 July 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
50 Osmaston Road |
Derby |
DE1 2HU |
Orchard Garden Private Day Nursery |
Limited (Registered number: 04839288) |
Balance Sheet |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' DEFICIT | ( |
) | ( |
) |
Orchard Garden Private Day Nursery |
Limited (Registered number: 04839288) |
Balance Sheet - continued |
31 July 2024 |
The director acknowledges her 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 were approved by the director and authorised for issue on |
Orchard Garden Private Day Nursery |
Limited (Registered number: 04839288) |
Notes to the Financial Statements |
for the Year Ended 31 July 2024 |
1. | STATUTORY INFORMATION |
Orchard Garden Private Day Nursery Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
The Company made a profit before taxation for the year of £58,093 (2023: loss £28,919) and notwithstanding the net liabilities at 31 July 2024 of £84,512 (2023: £128,719) the directors have prepared the financial statements on the going concern basis which assumes that the company will continue to trade for the foreseeable future. The validity of the assumption is based on the directors' assessment of future cash flows and revenue projections and for the reasons set out below. |
Cost of living and economic uncertainty in the UK |
The directors believe that from the date of approval of these financial statements the company will have sufficient funds to meet its liabilities as they fall due for the following twelve months. |
The following mitigating actions have been undertaken by the company; |
A significant element of the company's cost base relates to wages and salaries. Where possible, and subject to regulations, staffing levels and the hours of operation could be reduced. |
Essential expenditure to ensure the health and safety of children and staff will continue as necessary. |
The directors have considered all variable expenditure, reducing it where possible and have been able to delay and/or cancel expenditure in several areas. |
Were the company to require access to further liquidity this could be sought through cash injections from the parent undertaking and/or an extension of further lending facilities. Given the company's history of cash generation we would expect to be able to raise such funds as were necessary, however there is no guarantee that such funds will be available. |
The director believes that it remains appropriate to prepare the financial statements on a going concern basis. However, these circumstances represent a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern and, therefore, to continue realising its assets and discharging its liabilities in the normal course of business. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Orchard Garden Private Day Nursery |
Limited (Registered number: 04839288) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
2. | ACCOUNTING POLICIES - continued |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Goodwill arising on business combinations is capitalized, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life. The period chosen for writing off goodwill was 10 years. |
Provision is made for any impairment. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Freehold property and improvements | - |
Fixtures and fittings | - |
Office equipment | - |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
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. |
Orchard Garden Private Day Nursery |
Limited (Registered number: 04839288) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Government grants |
Income from government grants, whether capital grants or revenue grants, is recognised when the company has entitlement to the funds, any performance conditions attached to the grant have been met, it is probable that the income will be received and the amount can be measured reliably. |
Where entitlements occur before the income is received, the income is accrued. Where income is received in advance of the company having entitlement to the funds, the income is deferred. |
Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Loans and Borrowings |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amoritised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
Provisions |
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 August 2023 |
and 31 July 2024 |
AMORTISATION |
At 1 August 2023 |
and 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Orchard Garden Private Day Nursery |
Limited (Registered number: 04839288) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
5. | TANGIBLE FIXED ASSETS |
Freehold |
property | Fixtures |
and | and | Office |
improvements | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2023 |
Additions |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Social security and other taxes |
Other creditors |
Accruals |
Orchard Garden Private Day Nursery |
Limited (Registered number: 04839288) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans - 1-2 years |
Other loans - 2-5 years | 81,638 | 75,121 |
Other loans more 5yrs instal | 165,636 | 190,201 |
Amounts falling due in more than five years: |
Repayable by instalments |
Other loans more 5yrs instal | 165,636 | 190,201 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Other loans |
The loan is secured by a fixed charge on the property at 87 Green Lane, Derby. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 1 | 1 | 1 |
11. | ULTIMATE CONTROLLING PARTY |
ultimate control. The registered office of the parent is: Priestley House Priestley Gardens, Chadwell Heath, Romford, Essex, England, RM6 4SN |