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Company registration number: SC263422
The Daisychain Nursery Kirkcaldy Limited
Unaudited filleted financial statements
30 June 2024
The Daisychain Nursery Kirkcaldy Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
The Daisychain Nursery Kirkcaldy Limited
Directors and other information
Directors Janette Littwin
Jan Littwin
Erin Bruce
Lynn Littwin
Secretary Lynn Littwin
Company number SC263422
Registered office 144 Commercial Street
Kirkcaldy
Fife
KY1 2NU
Accountants Paterson Boyd & Co
18 North Street
Glenrothes
Fife
KY7 5NA
Bankers The Royal Bank of Scotland
23/25 Rosslyn Street
Kirkcaldy
Fife
KY1 3HW
The Daisychain Nursery Kirkcaldy Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of The Daisychain Nursery Kirkcaldy Limited
Year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Daisychain Nursery Kirkcaldy Limited for the year ended 30 June 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the board of directors of The Daisychain Nursery Kirkcaldy Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Daisychain Nursery Kirkcaldy Limited and state those matters that we have agreed to state to the board of directors of The Daisychain Nursery Kirkcaldy Limited as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Daisychain Nursery Kirkcaldy Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that The Daisychain Nursery Kirkcaldy 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 The Daisychain Nursery Kirkcaldy Limited. You consider that The Daisychain Nursery Kirkcaldy 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 The Daisychain Nursery Kirkcaldy 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.
Paterson Boyd & Co
Chartered Certified Accountants
18 North Street
Glenrothes
Fife
KY7 5NA
17 April 2025
The Daisychain Nursery Kirkcaldy Limited
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 885,585 891,429
_______ _______
885,585 891,429
Current assets
Debtors 7 7,972 9,394
Cash at bank and in hand 234,977 257,079
_______ _______
242,949 266,473
Creditors: amounts falling due
within one year 8 ( 63,241) ( 101,965)
_______ _______
Net current assets 179,708 164,508
_______ _______
Total assets less current liabilities 1,065,293 1,055,937
Provisions for liabilities ( 25,704) ( 26,963)
_______ _______
Net assets 1,039,589 1,028,974
_______ _______
Capital and reserves
Called up share capital 9 1,000 1,000
Profit and loss account 1,038,589 1,027,974
_______ _______
Shareholders funds 1,039,589 1,028,974
_______ _______
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.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 17 April 2025 , and are signed on behalf of the board by:
Janette Littwin
Director
Company registration number: SC263422
The Daisychain Nursery Kirkcaldy Limited
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 144 Commercial Street, Kirkcaldy, Fife, KY1 2NU.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the total invoice value of sales made during the year and derives from the provision of services falling withing the company's ordinary activities.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land and buildings - Nil
Fittings fixtures and equipment - 20% reducing balance
Computer equipment - Straight line over three years
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 53 (2023: 48 ).
5. Directors' remuneration
The directors aggregate remuneration in respect of qualifying services was:
2024 2023
£ £
Remuneration 158,892 135,909
Company contributions to pension schemes in respect of qualifying services 1,939 1,490
_______ _______
160,831 137,399
_______ _______
6. Tangible assets
Freehold property Short leasehold property Fixtures, fittings and equipment Motor vehicles Computer equipment Total
£ £ £ £ £ £
Cost
At 1 July 2023 and 30 June 2024 863,692 32,490 49,398 10,500 1,707 957,787
_______ _______ _______ _______ _______ _______
Depreciation
At 1 July 2023 - 32,490 27,567 4,594 1,707 66,358
Charge for the year - - 4,367 1,477 - 5,844
_______ _______ _______ _______ _______ _______
At 30 June 2024 - 32,490 31,934 6,071 1,707 72,202
_______ _______ _______ _______ _______ _______
Carrying amount
At 30 June 2024 863,692 - 17,464 4,429 - 885,585
_______ _______ _______ _______ _______ _______
At 30 June 2023 863,692 - 21,831 5,906 - 891,429
_______ _______ _______ _______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 1,678 3,549
Other debtors 6,294 5,845
_______ _______
7,972 9,394
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 1,196 12,371
Corporation tax 28,861 47,538
Social security and other taxes - 2,614
Other creditors 33,184 39,442
_______ _______
63,241 101,965
_______ _______
The Royal Bank of Scotland holds a standard security over the company's premises at Commercial Street and Loughborough Road as well as a bond and floating charge over the whole property of the company. The Royal Bank of Scotland also holds a directors' guarantee of £131,500.
9. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 1,000 1,000 1,000 1,000
_______ _______ _______ _______