Silverfin false false 31/08/2024 01/09/2023 31/08/2024 C Barrow 06/02/2023 M Vadhera 06/02/2023 10 April 2025 The principal activity of the company is the provision of nursery care. 03221244 2024-08-31 03221244 bus:Director1 2024-08-31 03221244 bus:Director2 2024-08-31 03221244 2023-08-31 03221244 core:CurrentFinancialInstruments 2024-08-31 03221244 core:CurrentFinancialInstruments 2023-08-31 03221244 core:ShareCapital 2024-08-31 03221244 core:ShareCapital 2023-08-31 03221244 core:RetainedEarningsAccumulatedLosses 2024-08-31 03221244 core:RetainedEarningsAccumulatedLosses 2023-08-31 03221244 core:LandBuildings 2023-08-31 03221244 core:LeaseholdImprovements 2023-08-31 03221244 core:PlantMachinery 2023-08-31 03221244 core:FurnitureFittings 2023-08-31 03221244 core:ComputerEquipment 2023-08-31 03221244 core:LandBuildings 2024-08-31 03221244 core:LeaseholdImprovements 2024-08-31 03221244 core:PlantMachinery 2024-08-31 03221244 core:FurnitureFittings 2024-08-31 03221244 core:ComputerEquipment 2024-08-31 03221244 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-08-31 03221244 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-08-31 03221244 core:ImmediateParent core:CurrentFinancialInstruments 2024-08-31 03221244 core:ImmediateParent core:CurrentFinancialInstruments 2023-08-31 03221244 core:UltimateParent core:CurrentFinancialInstruments 2024-08-31 03221244 core:UltimateParent core:CurrentFinancialInstruments 2023-08-31 03221244 bus:OrdinaryShareClass1 2024-08-31 03221244 2023-09-01 2024-08-31 03221244 bus:FilletedAccounts 2023-09-01 2024-08-31 03221244 bus:SmallEntities 2023-09-01 2024-08-31 03221244 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 03221244 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 03221244 bus:Director1 2023-09-01 2024-08-31 03221244 bus:Director2 2023-09-01 2024-08-31 03221244 core:LandBuildings core:TopRangeValue 2023-09-01 2024-08-31 03221244 core:LeaseholdImprovements 2023-09-01 2024-08-31 03221244 core:PlantMachinery 2023-09-01 2024-08-31 03221244 core:FurnitureFittings 2023-09-01 2024-08-31 03221244 core:ComputerEquipment 2023-09-01 2024-08-31 03221244 2022-09-01 2023-08-31 03221244 core:LandBuildings 2023-09-01 2024-08-31 03221244 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 03221244 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03221244 (England and Wales)

DAYPARK LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH THE REGISTRAR

DAYPARK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024

Contents

DAYPARK LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2024
DAYPARK LIMITED

BALANCE SHEET (continued)

AS AT 31 AUGUST 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,241,427 301,314
1,241,427 301,314
Current assets
Debtors 4 82,700 14,700
Cash at bank and in hand 112,024 62,403
194,724 77,103
Creditors: amounts falling due within one year 5 ( 1,049,415) ( 188,665)
Net current liabilities (854,691) (111,562)
Total assets less current liabilities 386,736 189,752
Provision for liabilities ( 10,190) ( 3,134)
Net assets 376,546 186,618
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 376,446 186,518
Total shareholder's funds 376,546 186,618

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Daypark Limited (registered number: 03221244) were approved and authorised for issue by the Board of Directors on 10 April 2025. They were signed on its behalf by:

M Vadhera
Director
DAYPARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
DAYPARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Daypark Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 125a Kenton Road Gosforth, Newcastle Upon Tyne, NE3 4NQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Leasehold improvements 25 % reducing balance
Plant and machinery 33 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 43 39

3. Tangible assets

Land and buildings Leasehold improve-
ments
Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £ £ £
Cost
At 01 September 2023 308,110 20,816 63,653 50,537 14,396 457,512
Additions 916,192 0 0 52,753 2,034 970,979
At 31 August 2024 1,224,302 20,816 63,653 103,290 16,430 1,428,491
Accumulated depreciation
At 01 September 2023 23,300 19,600 56,138 46,682 10,478 156,198
Charge for the financial year 16,984 304 2,480 9,838 1,260 30,866
At 31 August 2024 40,284 19,904 58,618 56,520 11,738 187,064
Net book value
At 31 August 2024 1,184,018 912 5,035 46,770 4,692 1,241,427
At 31 August 2023 284,810 1,216 7,515 3,855 3,918 301,314

4. Debtors

2024 2023
£ £
Amounts owed by related parties 68,000 0
Prepayments 2,738 2,738
Corporation tax 11,962 11,962
82,700 14,700

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Parent undertakings 214,498 144,498
Amounts owed to Ultimate Parent undertakings 19,000 0
Amounts owed to related parties 100,000 0
Amounts owed to directors 520,000 0
Accruals and deferred income 114,178 3,707
Taxation and social security 79,045 38,334
Other creditors 2,694 2,126
1,049,415 188,665

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100