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MEAD OPEN FARM DAY NURSERY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST JULY 2024






MEAD OPEN FARM DAY NURSERY LIMITED (REGISTERED NUMBER: 10482452)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

MEAD OPEN FARM DAY NURSERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2024







DIRECTORS: P R Sharp
M P Heast
Mrs S G Heast
Mrs S R Elliott





REGISTERED OFFICE: C/O Thrift Farm
Buckingham Road
Whaddon
Milton Keynes
Buckinghamshire
MK17 0EQ





REGISTERED NUMBER: 10482452 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

MEAD OPEN FARM DAY NURSERY LIMITED (REGISTERED NUMBER: 10482452)

BALANCE SHEET
31ST JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 251,812 290,174

CURRENT ASSETS
Debtors 5 132,498 126,888
Cash at bank and in hand 82,320 179,178
214,818 306,066
CREDITORS
Amounts falling due within one year 6 331,545 449,694
NET CURRENT LIABILITIES (116,727 ) (143,628 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

135,085

146,546

CREDITORS
Amounts falling due after more than one
year

7

(13,513

)

(23,445

)

PROVISIONS FOR LIABILITIES (5,692 ) (5,707 )
NET ASSETS 115,880 117,394

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 115,780 117,294
115,880 117,394

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MEAD OPEN FARM DAY NURSERY LIMITED (REGISTERED NUMBER: 10482452)

BALANCE SHEET - continued
31ST JULY 2024


The 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th April 2025 and were signed on its behalf by:





P R Sharp - Director


MEAD OPEN FARM DAY NURSERY LIMITED (REGISTERED NUMBER: 10482452)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024

1. STATUTORY INFORMATION

Mead Open Farm Day Nursery Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents amounts derived from the provision of nursery care as the services are provided.

Any income received in advance is deferred and included in current liabilities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 7% on cost
Improvements to property - 25% on cost
Nursery equipment - Straight line over 10 years
Equipment - Straight line over 10 years
Computer equipment - 25% on cost

The directors policy is to only capitalise assets costing £500 or more in value. Items below this value
are treated as revenue expenditure.

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.

MEAD OPEN FARM DAY NURSERY LIMITED (REGISTERED NUMBER: 10482452)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2023 - 44 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Long to Nursery
leasehold property equipment
£    £    £   
COST
At 1st August 2023 366,952 45,748 69,614
Additions - 3,928 3,249
At 31st July 2024 366,952 49,676 72,863
DEPRECIATION
At 1st August 2023 149,683 24,375 33,083
Charge for year 25,686 9,479 7,290
At 31st July 2024 175,369 33,854 40,373
NET BOOK VALUE
At 31st July 2024 191,583 15,822 32,490
At 31st July 2023 217,269 21,373 36,531

Computer
Equipment equipment Totals
£    £    £   
COST
At 1st August 2023 21,393 8,313 512,020
Additions - 836 8,013
At 31st July 2024 21,393 9,149 520,033
DEPRECIATION
At 1st August 2023 10,789 3,916 221,846
Charge for year 2,139 1,781 46,375
At 31st July 2024 12,928 5,697 268,221
NET BOOK VALUE
At 31st July 2024 8,465 3,452 251,812
At 31st July 2023 10,604 4,397 290,174

MEAD OPEN FARM DAY NURSERY LIMITED (REGISTERED NUMBER: 10482452)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 125,259 121,929
Amounts owed by joint ventures 105 196
Other debtors 950 -
Prepayments and accrued income 6,184 4,763
132,498 126,888

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,648 10,648
Trade creditors 30,845 34,254
Amounts owed to joint ventures - 119,895
Corporation tax 67,135 46,275
Social security and other taxes 13,047 9,227
Other creditors 6,306 4,174
Net wages outstanding 66,990 63,696
Directors' current accounts - 120,000
Accruals and deferred income 136,574 41,525
331,545 449,694

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 13,513 23,445

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 59,790 59,790
Between one and five years 239,160 239,160
In more than five years 159,440 219,230
458,390 518,180

Operating lease commitments relate to rent due on company premises.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MEAD OPEN FARM DAY NURSERY LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mead Open Farm Day Nursery Limited for the year ended 31st July 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Mead Open Farm Day Nursery Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mead Open Farm Day Nursery Limited and state those matters that we have agreed to state to the Board of Directors of Mead Open Farm Day Nursery Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mead Open Farm Day Nursery Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mead Open Farm Day Nursery Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mead Open Farm Day Nursery Limited. You consider that Mead Open Farm Day Nursery Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mead Open Farm Day Nursery Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


16th April 2025