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Registration number: 04479406

Square One Nursery School Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Square One Nursery School Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Square One Nursery School Limited

Company Information
__________________________________________________________________________

Director

Deirdre King

Company secretary

Michelle Pittam

Registered office

342 Regents Park Road
Finchley
London
N3 2LJ


 

Accountants

Brooks Green
Chartered AccountantsAbbey House
342 Regents Park Road
London
N3 2LJ

 

Square One Nursery School Limited

(Registration number: 04479406)
Balance Sheet as at 31 July 2024
__________________________________________________________________________

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

3

 

132

 

177

Current assets

   

 

Debtors

4

319

 

522

 

Cash at bank and in hand

 

1,048

 

3,322

 

 

1,367

 

3,844

 

Creditors: Amounts falling due within one year

5

(21,226)

 

(35,522)

 

Net current liabilities

   

(19,859)

 

(31,678)

Net liabilities

   

(19,727)

 

(31,501)

Capital and reserves

   

 

Called up share capital

6

2

 

2

 

Retained earnings

(19,729)

 

(31,503)

 

Shareholders' deficit

   

(19,727)

 

(31,501)

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 April 2025
 

.........................................
Deirdre King
Director

 

Square One Nursery School Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
__________________________________________________________________________

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings, tools & equipment

25% RB

 

Square One Nursery School Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
__________________________________________________________________________

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

 

Square One Nursery School Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
__________________________________________________________________________

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

14,752

14,752

At 31 July 2024

14,752

14,752

Depreciation

At 1 August 2023

14,575

14,575

Charge for the year

45

45

At 31 July 2024

14,620

14,620

Carrying amount

At 31 July 2024

132

132

At 31 July 2023

177

177

4

Debtors

Current

2024
£

2023
£

Prepayments

319

319

Other debtors

-

203

 

319

522

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

12,869

17,019

Trade creditors

 

3,700

5,400

Taxation and social security

 

2,772

-

Accruals and deferred income

 

1,650

13,052

Other creditors

 

235

51

 

21,226

35,522

 

Square One Nursery School Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
__________________________________________________________________________

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ortdinary share capital of £1 each

2

2

2

2