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Registered number: 13117894
Hatching Dragons Southwark Limited
Financial Statements
For The Year Ended 30 June 2024
KJW Accountancy Services (Cotswolds) Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13117894
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 100,796 117,380
100,796 117,380
CURRENT ASSETS
Debtors 5 90,239 62,183
Cash at bank and in hand 98,965 71,597
189,204 133,780
Creditors: Amounts Falling Due Within One Year 6 (241,241 ) (145,974 )
NET CURRENT ASSETS (LIABILITIES) (52,037 ) (12,194 )
TOTAL ASSETS LESS CURRENT LIABILITIES 48,759 105,186
Creditors: Amounts Falling Due After More Than One Year 7 (324,927 ) (355,815 )
NET LIABILITIES (276,168 ) (250,629 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (276,169 ) (250,630 )
SHAREHOLDERS' FUNDS (276,168) (250,629)
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
C John
Director
21/03/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Hatching Dragons Southwark Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13117894 . The registered office is 4th Floor, Silverstream House, 45 Fitzroy Street, Fitzrovia, London, W1T 6EB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the
Company and the revenue can be reliably measured. Turnover is measured as the fair value of the
consideration received or receivable, excluding discounts, rebates, value added tax and other sales
taxes.
Turnover represents revenue received for attendance at the school facilities. The income is
recognised in the period the children attend.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Improvements to property Straight line over 20 years
Fixtures & Fittings 33% on cost
Computer Equipment 33% on cost
2.4. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.5. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2023: 13)
18 13
4. Tangible Assets
Land & Property
Improvements to property Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 112,934 44,106 2,078 159,118
Additions - 527 - 527
As at 30 June 2024 112,934 44,633 2,078 159,645
...CONTINUED
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Page 4
Depreciation
As at 1 July 2023 12,839 28,029 870 41,738
Provided during the period 5,647 10,823 641 17,111
As at 30 June 2024 18,486 38,852 1,511 58,849
Net Book Value
As at 30 June 2024 94,448 5,781 567 100,796
As at 1 July 2023 100,095 16,077 1,208 117,380
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 9,810 -
Prepayments and accrued income 35,429 17,183
45,239 17,183
Due after more than one year
Rent Deposits 45,000 45,000
90,239 62,183
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 105,387 44,828
Other taxes and social security 4,357 3,516
Pensions payable 1,537 588
Nursery Deposits Held 65,800 46,374
Accruals and deferred income 62,600 49,468
Accrued expenses 1,560 1,200
241,241 145,974
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to related parties 324,927 355,815
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1 Ordinary A shares of £ 1.00 each 1 1
9. Related Party Transactions
The company is a wholly owned subsidiary of Hatching Dragons Ltd, Registered Number 08847709.
Included in creditors is an amount of £324,927 (2023 - £355,815) owed to Hatching Dragons Ltd.
This loan is interest free and has no fixed term for repayment.
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