REGISTERED NUMBER: |
The Greenacres Day Nursery School |
Limited |
Financial Statements |
for the Year Ended 31 July 2024 |
REGISTERED NUMBER: |
The Greenacres Day Nursery School |
Limited |
Financial Statements |
for the Year Ended 31 July 2024 |
The Greenacres Day Nursery School |
Limited (Registered number: 03223000) |
Contents of the Financial Statements |
for the year ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
The Greenacres Day Nursery School |
Limited |
Company Information |
for the year ended 31 July 2024 |
Director: |
Registered office: |
Registered number: |
The Greenacres Day Nursery School |
Limited (Registered number: 03223000) |
Balance Sheet |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 7 |
Retained earnings | 8 |
Shareholders' funds | 11 |
The director acknowledges her 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. |
The financial statements were approved by the director and authorised for issue on |
The Greenacres Day Nursery School |
Limited (Registered number: 03223000) |
Notes to the Financial Statements |
for the year ended 31 July 2024 |
1. | Statutory information |
The Greenacres Day Nursery School Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
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, and on a going concern basis as explained further in this note. |
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
(a) Critical judgements in applying the Company's accounting policies |
The Company makes a number of assessments which require judgement in preparing the accounts and can have a significant effect upon the financial statements. However due to the straight forward nature of the Company's business, management does not believe that there are any judgements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
(b) Key accounting estimates and assumptions |
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. However due to the straight forward nature of the Company's business, management does not believe that there are any estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
Turnover |
Turnover represents amount receivable for the provision of a day nursery school net of Value Added Tax and discounts. |
Turnover is recognised on an accruals basis. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
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. |
The Greenacres Day Nursery School |
Limited (Registered number: 03223000) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
2. | Accounting policies - continued |
Going concern |
The financial statements have been prepared on a going concern basis. The director has reviewed and considered relevant information, including the annual budget and future cash flows in making her assessment. The director has tested the cash flow analysis to take into account the impact on their business of possible scenarios, alongside the measures that they can take to mitigate the impacts. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the director has concluded that the Company can continue to adopt the going concern basis in preparing the annual report and accounts. |
Financial instruments |
The Company has chosen to adopt Sections 11 of FRS 102 in respect of financial instruments. |
(i) Financial assets |
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method. |
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. |
If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment. |
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
The Greenacres Day Nursery School |
Limited (Registered number: 03223000) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
2. | Accounting policies - continued |
(ii) Financial liabilities |
Basic financial liabilities, including trade and other payables, bank loans, loans from other 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 receipts discounted at a market rate of interest. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates. |
Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 August 2023 |
Additions |
At 31 July 2024 |
Depreciation |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
Net book value |
At 31 July 2024 |
At 31 July 2023 |
The Greenacres Day Nursery School |
Limited (Registered number: 03223000) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
Directors' loan accounts | 37,548 | 37,548 |
Accruals and deferred income |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
8. | Reserves |
Retained |
earnings |
£ |
At 1 August 2023 |
Profit for the year |
Dividends | ( |
) |
At 31 July 2024 |
9. | Related party disclosures |
The Company is related to Greenacres Day Nursery School (Hampton) Limited by virtue of S Green being a director and shareholder of both companies. |
At the balance sheet date debtors include £94,149 (2023: £94,149) owed by Greenacres Day Nursery School (Hampton) Limited which is unsecured, interest free, and repayable on demand. |
At the balance sheet date creditors include £68,930 (2023: £68,930) owed to a company also controlled by S Green. The balance is unsecured, interest free, and repayable on demand. |
At the balance sheet date other debtors include £52,619 (2023: £34,318) owed by companies also controlled by S Green. The balance is unsecured, interest free, and repayable on demand. |
The Greenacres Day Nursery School |
Limited (Registered number: 03223000) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
10. | Ultimate controlling party |
The controlling party is S Green. |
11. | Reconciliation of movements in shareholders' funds |
2024 | 2023 |
£ | £ |
Profit for the financial year |
Dividends | ( |
) | ( |
) |
Net (reduction)/addition to shareholders' funds | (81,455 | ) | 430,586 |
Opening shareholders' funds | 3,383,666 | 2,953,080 |
Closing shareholders' funds | 3,302,211 | 3,383,666 |