Company registration number 11404571 (England and Wales)
BUDS TO BLOSSOMS DAY NURSERIES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
BUDS TO BLOSSOMS DAY NURSERIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
BUDS TO BLOSSOMS DAY NURSERIES LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
68,035
75,967
Current assets
Debtors
6
197,299
125,014
Cash at bank and in hand
634
713
197,933
125,727
Creditors: amounts falling due within one year
7
(165,256)
(104,203)
Net current assets
32,677
21,524
Total assets less current liabilities
100,712
97,491
Creditors: amounts falling due after more than one year
8
(36,083)
(55,503)
Provisions for liabilities
(3,774)
(5,614)
Net assets
60,855
36,374
Capital and reserves
Called up share capital
9
2
2
Profit and loss reserves
60,853
36,372
Total equity
60,855
36,374
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 27 March 2025
Mr L J Fowler
Director
Company Registration No. 11404571
BUDS TO BLOSSOMS DAY NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information
Buds to Blossoms Day Nurseries Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pen Y Lan, 1 Park Place, Beaufort, Ebbw Vale, NP23 5JX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Intangible fixed assets - goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised over its estimated useful life of five years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
10% Straight line
Fixtures and fittings
20% straight line
Computer equipment
20% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
BUDS TO BLOSSOMS DAY NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
1.9
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.
BUDS TO BLOSSOMS DAY NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
26
30
3
Other Operating Income
2024
2023
£
£
Income
Government grants
2,010
2,010
The company received grants from the government of £2,010 (2023: £2,010) to cover the costs of business rates and wages.
4
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
5,000
Amortisation and impairment
At 1 July 2023 and 30 June 2024
5,000
Carrying amount
At 30 June 2024
At 30 June 2023
BUDS TO BLOSSOMS DAY NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
5
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computer equipment
Total
£
£
£
£
Cost
At 1 July 2023
66,419
58,148
6,702
131,269
Additions
4,681
4,277
8,958
Disposals
(1,953)
(1,953)
At 30 June 2024
66,419
60,876
10,979
138,274
Depreciation and impairment
At 1 July 2023
14,945
36,452
3,905
55,302
Depreciation charged in the year
6,642
8,714
1,268
16,624
Eliminated in respect of disposals
(1,687)
(1,687)
At 30 June 2024
21,587
43,479
5,173
70,239
Carrying amount
At 30 June 2024
44,832
17,397
5,806
68,035
At 30 June 2023
51,474
21,696
2,797
75,967
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
4,462
3,421
Other debtors
192,837
121,593
197,299
125,014
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,992
10,261
Corporation tax
90,978
57,731
Other taxation and social security
39,625
14,974
Other creditors
30,661
21,237
165,256
104,203
The secured debts included within other creditors are hire purchase contracts of £6,739 (2023: £6,739), secured over the company's assets.
BUDS TO BLOSSOMS DAY NURSERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
36,083
55,503
The secured debts included within other creditors are hire purchase contracts of £20,920 (2023: £26,955), secured over the company's assets.
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2
2
2
2
10
Directors' transactions
Dividends totalling £24,000 (2023 - £40,000) were paid in the year in respect of shares held by the company's directors.
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Directors
2.25
87,958
86,676
3,118
(36,070)
141,682
87,958
86,676
3,118
(36,070)
141,682