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Registered number: 08847709
Hatching Dragons Ltd
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—5
Page 1
Balance Sheet
Registered number: 08847709
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 260,243 279,231
260,243 279,231
CURRENT ASSETS
Debtors 5 665,903 684,008
Cash at bank and in hand 254,210 203,530
920,113 887,538
Creditors: Amounts Falling Due Within One Year 6 (395,710 ) (343,829 )
NET CURRENT ASSETS (LIABILITIES) 524,403 543,709
TOTAL ASSETS LESS CURRENT LIABILITIES 784,646 822,940
Creditors: Amounts Falling Due After More Than One Year 7 (76,666 ) (185,126 )
NET ASSETS 707,980 637,814
CAPITAL AND RESERVES
Called up share capital 8 123,574 123,574
Share premium account 1,758,437 1,758,437
Profit and Loss Account (1,174,031 ) (1,244,197 )
SHAREHOLDERS' FUNDS 707,980 637,814
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 C T John
Director
26/03/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Hatching Dragons Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08847709 . 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.
The following criteria must also be met before revenue is recognised:
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:
Short leasehold in accordance with the property
Nursery Equipment 33% on cost
Fixtures & Fittings 20% 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.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet 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 end 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.
2.6. Pensions
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2023: 25)
18 25
Page 3
Page 4
4. Tangible Assets
Land & Property
Short leasehold Nursery Equipment Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 312,028 47,776 21,771 21,761 403,336
Additions - 2,104 - 3,730 5,834
As at 30 June 2024 312,028 49,880 21,771 25,491 409,170
Depreciation
As at 1 July 2023 47,631 39,080 17,320 20,074 124,105
Provided during the period 15,727 5,137 2,340 1,618 24,822
As at 30 June 2024 63,358 44,217 19,660 21,692 148,927
Net Book Value
As at 30 June 2024 248,670 5,663 2,111 3,799 260,243
As at 1 July 2023 264,397 8,696 4,451 1,687 279,231
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 23,687 3,426
Other debtors 66,457 54,346
90,144 57,772
Due after more than one year
Amounts owed by group undertakings 355,559 406,036
Other debtors 220,200 220,200
575,759 626,236
665,903 684,008
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 53,208 48,679
Bank loans and overdrafts 50,000 50,000
Other creditors 289,894 234,822
Taxation and social security 2,608 10,328
395,710 343,829
Page 4
Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 1-2 years 70,833 50,000
Bank loans - 2-5 years - 70,833
Other creditors 5,833 64,293
76,666 185,126
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
122,157 A Ordinary of £ 1.00 each 122,157 122,157
1,417 B Founder of £ 1.00 each 1,417 1,417
123,574 123,574
9. Related Party Transactions
During the year, the company loaned fully owned subsidiary Hatching Dragons Southwark Limited (13117894)
£324,926 (2023 - £355,814)
This loan is interest free and has no fixed date for repayment.
During the year, the company loaned fully owned subsidiary HD City Ltd (13749453) £32,807
(2023 - £50,221) This loan is interest free and has no fixed date for repayment.
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