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Registered Number: 04424281
England and Wales

 

 

 

CHESTNUT NURSERY SCHOOLS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Chestnut Nursery Schools Limited for the year ended 31 July 2024.


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Chestnut Nursery Schools Limited for the year ended 31 July 2024 which comprise of the Profit and Loss Account, the Balance Sheet, 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, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.       


This report is made solely to the Board of Directors of Chestnut Nursery Schools Limited, as a body, in accordance with the terms of our engagement letter dated 17th December 2018. Our work has been undertaken solely to prepare for your approval the accounts of Chestnut Nursery Schools Limited and state those matters that we have agreed to state to the Board of Directors of Chestnut Nursery Schools Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chestnut Nursery Schools Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Chestnut Nursery Schools Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Chestnut Nursery Schools Limited . You consider that Chestnut Nursery Schools 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 accounts of Chestnut Nursery Schools 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 accounts for the year ended 31 July 2024.



....................................................
aa Chartered Accountants
5 Blenheim Court
Peppercorn Close
Peterborough
United Kingdom
PE1 2DU
25 April 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 1,561,688    1,637,177 
Investments 5 249,987    249,987 
1,811,675    1,887,164 
Current assets      
Debtors: amounts falling due within one year 890,165    885,755 
Cash at bank and in hand 360,682    420,294 
1,250,847    1,306,049 
Creditors: amount falling due within one year (1,048,935)   (1,189,534)
Net current assets 201,912    116,515 
 
Total assets less current liabilities 2,013,587    2,003,679 
Creditors: amount falling due after more than one year (689,213)   (656,533)
Provisions for liabilities (204,141)   (78,892)
Net assets 1,120,233    1,268,254 
 

Capital and reserves
     
Called up share capital 6 20,000    20,000 
Reserves 7 760,929    760,929 
Profit and loss account 339,304    487,325 
Shareholders' funds 1,120,233    1,268,254 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 25 April 2025 and were signed on its behalf by:


-------------------------------
Steven John Davies
Director
2
General Information
Chestnut Nursery Schools Limited is a private company, limited by shares, registered in England and Wales, registration number 04424281, registration address Oaks Farm Cottage, Felmingham, North Walsham, Norfolk, NR28 0JZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Turnover
Turnover represents the amounts receivable for services delivered in the year.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on the provision of the services), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the period because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the period, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land which is, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Freehold land within land and buildings is £300,000 (2020) (£300,000: 2019) and is not being depreciated. 
Land and Buildings 2% Straight Line
Motor Vehicles 25% Straight Line
Fixtures and Fittings 20% Straight Line
Computer Equipment 33% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees


Average number of employees during the year was 199 (2023 : 199).
3.

Financial Commitments, Guarantees and Contingencies

All loans are secured against the freehold property of the company, and the amount that is due in greater than five years is £362,000 (2023:£383,000).

4.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 August 2023 1,380,665    324,206    260,342    121,146    2,086,359 
Additions 14,970      26,029    18,914    59,913 
Disposals   (30,554)   (72,225)   (57,850)   (160,629)
At 31 July 2024 1,395,635    293,652    214,146    82,210    1,985,643 
Depreciation
At 01 August 2023 137,398    153,583    112,071    46,130    449,182 
Charge for year 5,338    38,445    40,283    15,271    99,337 
On disposals   (29,954)   (60,818)   (33,792)   (124,564)
At 31 July 2024 142,736    162,074    91,536    27,609    423,955 
Net book values
Closing balance as at 31 July 2024 1,252,899    131,578    122,610    54,601    1,561,688 
Opening balance as at 01 August 2023 1,243,267    170,623    148,271    75,016    1,637,177 


5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 August 2023 249,987    249,987 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 July 2024 249,987    249,987 
Investment in subsidiaries
Particulars   2024
£
  2023
£
St Nicholas Education Ltd - 100% shareholding 241,987  241,987 
Chestnut (Norfolk) Ltd - 80% shareholding 8,000  8,000 


6.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
20,000 Ordinary shares of £1.00 each 20,000    20,000 
20,000    20,000 

3