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Registered number: 05165538
Russell Nursery School Limited
Financial Statements
For The Year Ended 30 June 2024
Sturgess Hutchinson
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 05165538
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 1,006,259 1,036,044
Investments 6 1,120,181 1,120,181
2,126,440 2,156,225
CURRENT ASSETS
Stocks 7 375 375
Debtors 8 1,200 1,200
Cash at bank and in hand 106,722 75,121
108,297 76,696
Creditors: Amounts Falling Due Within One Year 9 (432,437 ) (235,943 )
NET CURRENT ASSETS (LIABILITIES) (324,140 ) (159,247 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,802,300 1,996,978
Creditors: Amounts Falling Due After More Than One Year 10 (1,283,035 ) (1,425,220 )
NET ASSETS 519,265 571,758
CAPITAL AND RESERVES
Called up share capital 12 2 2
Profit and Loss Account 519,263 571,756
SHAREHOLDERS' FUNDS 519,265 571,758
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
Mr M Ravat
Director
26/03/2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Russell Nursery School Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05165538 . The registered office is 21 New Walk, Leicester, LE1 6TE.
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 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. 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:
Freehold 2% straight line
Plant & Machinery 20% reducing balance
2.5. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.10. Investments in subsiduaries
Investments in subsiduary undertakings are recognised at cost.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 52 (2023: 57)
52 57
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4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 504,547
As at 30 June 2024 504,547
Amortisation
As at 1 July 2023 504,547
As at 30 June 2024 504,547
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 July 2023 1,385,703 186,901 1,572,604
As at 30 June 2024 1,385,703 186,901 1,572,604
Depreciation
As at 1 July 2023 360,018 176,542 536,560
Provided during the period 27,713 2,072 29,785
As at 30 June 2024 387,731 178,614 566,345
Net Book Value
As at 30 June 2024 997,972 8,287 1,006,259
As at 1 July 2023 1,025,685 10,359 1,036,044
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Page 6
6. Investments
Subsidiaries
£
Cost
As at 1 July 2023 1,120,181
As at 30 June 2024 1,120,181
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 1,120,181
As at 1 July 2023 1,120,181
7. Stocks
2024 2023
£ £
Stock 375 375
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,200 1,200
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 144,700 146,201
Amounts owed to group undertakings 30,331 8,645
Other creditors 187,046 62,618
Taxation and social security 70,360 18,479
432,437 235,943
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,283,035 1,425,220
Of the creditors falling due after more than one year the following amounts are due after more than five years.
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2024 2023
£ £
Bank loans 794,776 837,500
11. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 1,339,735 1,435,420
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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