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Registered Number: 08369267
England and Wales

 

 

 

PARK DAY NURSERY (READING) LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 117,152    175,728 
Tangible fixed assets 4 1,746,655    1,790,703 
1,863,807    1,966,431 
Current assets      
Debtors 634,666    205,716 
Cash at bank and in hand 68,434    182,023 
703,100    387,739 
Creditors: amount falling due within one year (411,130)   (357,230)
Net current assets 291,970    30,509 
 
Total assets less current liabilities 2,155,777    1,996,940 
Creditors: amount falling due after more than one year (303,375)   (370,545)
Provisions for liabilities (44,746)   (35,614)
Net assets 1,807,656    1,590,781 
 

Capital and reserves
     
Called up share capital 10,400    10,400 
Profit and loss account 1,797,256    1,580,381 
Shareholders' funds 1,807,656    1,590,781 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 26 March 2025 and were signed on its behalf by:


-------------------------------
S P Brown
Director
1
General Information
Park Day Nursery (Reading) Ltd is a private company, limited by shares, registered in England and Wales, registration number 08369267, registration address Plaistow Green Farm, Lovel Road Winkfield, Windsor, Berkshire, SL4 2ES. The trading address of the company is 8 College Road, Reading, RG6 1QB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
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.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, 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 statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 and 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.
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.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of five years.

If there is an indication that there has been a significant change in amortisation rate or residual value of an asset, the amortisation of that asset is revised prospectively to reflect the new expectations.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold property          - 2% on cost
Fixtures and fittings      - 15% on cost
Motor vehicles                - 20% on cost
Computer equipment   - 33% on cost


At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised costs using the effective interest method.
2.

Average number of employees

Average number of employees during the year was 49 (2023 : 53).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2023 447,880    447,880 
Additions  
Disposals  
At 31 March 2024 447,880    447,880 
Amortisation
At 01 April 2023 272,152    272,152 
Charge for year 58,576    58,576 
On disposals  
At 31 March 2024 330,728    330,728 
Net book values
At 31 March 2024 117,152    117,152 
At 31 March 2023 175,728    175,728 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 April 2023 1,962,983    14,400    34,902    10,299    2,022,584 
Additions     2,866    4,188    7,054 
Disposals        
At 31 March 2024 1,962,983    14,400    37,768    14,487    2,029,638 
Depreciation
At 01 April 2023 212,260    11,520    1,926    6,175    231,881 
Charge for year 39,259    2,880    5,629    3,334    51,102 
On disposals        
At 31 March 2024 251,519    14,400    7,555    9,509    282,983 
Net book values
Closing balance as at 31 March 2024 1,711,464      30,213    4,978    1,746,655 
Opening balance as at 01 April 2023 1,750,723    2,880    32,976    4,124    1,790,703 


5.

Advances and Credits



S P Brown
At the balance sheet date there was an overdrawn balance of £173,696 (2023: £4,368 overdrawn) on S P Brown's director's loan account. The loan is interest free with no fixed date for repayment.

Mrs J Brown
At the balance sheet date there was an overdrawn balance of £82,493 (2023 £15,639 in credit) on Mrs J Brown's loan account. The loan is interest free with no fixed date for repayment.

Current year (2024)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
S P Brown4,368 169,328 173,696 
Mrs J Brown(15,639)136,189 38,057 82,493 
-1127130551703805700256189
Previous year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
S P Brown10,703 25,279 31,614 4,368 
Mrs J Brown(4,944)4,021 14,716 (15,639)
57592930004633000-11271
6.

Debtors : Amounts falling due within one year

.   2024
£
  2023
£
Trade Debtors 57,568  38,273 
Prepayments & Accrued Income 29,352  1,821 
Other Debtors 291,557  165,622 
Directors Current Account 256,189 
634,666  205,716 

7.

Creditors : amount falling due within one year

.   2024
£
  2023
£
Trade Creditors 28,002  31,468 
Bank Loans & Overdrafts (Secured) 26,669  50,185 
Bank Loans & Overdrafts 61,200  61,200 
Corporation Tax 243,002  124,090 
PAYE & Social Security 19,099  13,348 
Accruals & Deferred Income 3,878  26,652 
Other Creditors 29,280  39,016 
Directors Current Accounts 11,271 
411,130  357,230 

8.

Creditors : Amounts falling due after more than one year

.   2023
£
  2023
£
Bank Loans & Overdrafts (secured) 216,675  222,645 
Bank Loans & Overdrafts 86,700  147,900 
303,375  370,545 

9.

Secured debts

The following secured debts are included within creditors:

Particulars   31.03.24
£
  31.03.23
£
Bank loans 243,344  272,830 

The loans are secured by debentures dated 22nd October 2021, 12th March 2013, 18th June 2013 and 1st July 2019 which create a fixed and floating charge over all the assets of the company.
10.

Ultimate controlling party

The company is under the control of Mrs J Brown and S P Brown, who control the majority of the issued share capital.
2