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Registration number: 09295785

Park Hill Nursery Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Park Hill Nursery Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Park Hill Nursery Limited

(Registration number: 09295785)
Statement of Financial Position as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

7,498

8,248

Current assets

 

Debtors

6

44,621

33,902

Cash at bank and in hand

 

36,926

19,109

 

81,547

53,011

Creditors: Amounts falling due within one year

7

(29,567)

(26,656)

Net current assets

 

51,980

26,355

Total assets less current liabilities

 

59,478

34,603

Creditors: Amounts falling due after more than one year

7

-

(1,215)

Net assets

 

59,478

33,388

Capital and reserves

 

Called up share capital

10

10

Profit and loss account

59,468

33,378

Shareholders' funds

 

59,478

33,388

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 26 March 2025 and signed on its behalf by:
 

 

Park Hill Nursery Limited

(Registration number: 09295785)
Statement of Financial Position as at 30 November 2024 (continued)


Mrs Heidi Suzanne Burton
Director


Mr Robert Louis Burton
Director

 

Park Hill Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Sunningmead Community Centre
Lazenby Road
Tiverton
Devon
EX16 4AL

Principal activity

The principal activity of the company is that of a childrens day nursery.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

 

Park Hill Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% Reducing Balance

Motor vehicles

25% Reducing Balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

 

Park Hill Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

Park Hill Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 11).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2023

22,657

22,657

At 30 November 2024

22,657

22,657

Amortisation

At 1 December 2023

22,657

22,657

At 30 November 2024

22,657

22,657

Carrying amount

At 30 November 2024

-

-

5

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

7,528

16,528

24,056

Additions

1,451

-

1,451

At 30 November 2024

8,979

16,528

25,507

Depreciation

At 1 December 2023

4,510

11,298

15,808

Charge for the year

893

1,308

2,201

At 30 November 2024

5,403

12,606

18,009

Carrying amount

At 30 November 2024

3,576

3,922

7,498

At 30 November 2023

3,018

5,230

8,248

 

Park Hill Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

6

Debtors

2024
£

2023
£

Trade debtors

5,455

5,677

Other debtors

39,166

28,225

44,621

33,902

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

1,225

3,594

Trade creditors

 

494

239

Taxation and social security

 

16,753

9,955

Accruals and deferred income

 

1,425

1,355

Other creditors

 

9,670

11,513

 

29,567

26,656

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

1,215

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Park Hill Nursery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

1,215

Current loans and borrowings

2024
£

2023
£

Bank borrowings

1,225

3,594

10

Related party transactions

Transactions with directors

2024

At 1 December 2023
£

Advances to director
£

Repayments by director
£

At 30 November 2024
£

Directors loan account

27,883

39,183

(27,900)

39,166

         
       

 

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Directors loan account

35,368

27,883

(35,368)

27,883