Registered number
06571375
Jack and Jill Preschool Limited
Unaudited Filleted Accounts
31 August 2024
Jack and Jill Preschool Limited
Registered number: 06571375
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 678,489 670,606
Current assets
Debtors 5 26,716 24,143
Cash at bank and in hand 108,993 106,287
135,709 130,430
Creditors: amounts falling due within one year 6 (110,032) (96,624)
Net current assets 25,677 33,806
Total assets less current liabilities 704,166 704,412
Creditors: amounts falling due after more than one year 7 (423,434) (421,956)
Provisions for liabilities (5,029) (8,902)
Net assets 275,703 273,554
Capital and reserves
Called up share capital 100 100
Profit and loss account 275,603 273,454
Shareholders' funds 275,703 273,554
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A Hollingdale
Director
Approved by the board on 24 March 2025
Jack and Jill Preschool Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Motor Vehicles 4-5 years
Fixtures, fittings, tools and equipment 3-10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 26 27
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 15,701
At 31 August 2024 15,701
Amortisation
At 1 September 2023 15,701
At 31 August 2024 15,701
Net book value
At 31 August 2024 -
Goodwill was written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Play and ICT equipment Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 638,515 21,218 32,447 692,180
Additions - 5,241 33,319 38,560
Disposals - - (29,238) (29,238)
At 31 August 2024 638,515 26,459 36,528 701,502
Depreciation
At 1 September 2023 3,515 12,396 5,663 21,574
Charge for the year - 3,296 5,940 9,236
On disposals - - (7,797) (7,797)
At 31 August 2024 3,515 15,692 3,806 23,013
Net book value
At 31 August 2024 635,000 10,767 32,722 678,489
At 31 August 2023 635,000 8,822 26,784 670,606
5 Debtors 2024 2023
£ £
Trade debtors 4,130 3,692
Other debtors 22,586 20,451
26,716 24,143
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 13,988 13,660
Obligations under finance lease and hire purchase contracts 1,611 3,341
Trade creditors 5,400 4,291
Taxation and social security costs 30,866 31,483
Other creditors 58,167 43,849
110,032 96,624
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 401,406 412,678
Obligations under finance lease and hire purchase contracts 22,028 9,278
423,434 421,956
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 415,394 426,338
Bank loans are secured by way of a fixed and floating charge over the company assets.
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr A Hollingdale
Loan to director (6,081) - - (6,081)
Mrs C Hollingdale
Loan to director (6,080) - - (6,080)
(12,161) - - (12,161)
10 Related party transactions
The directors' owed monies to the company as detailed in note 9 to the accounts. These loans are interest free and repayable on demand.
11 Other information
Jack and Jill Preschool Limited is a private company limited by shares and incorporated in England. Its registered office is:
60 Falcondale Road
Westbury on Trym
Bristol
BS9 3JY
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