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Company No: 05725120 (England and Wales)

ALL MY FRIENDS CHILDCARE LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

ALL MY FRIENDS CHILDCARE LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

ALL MY FRIENDS CHILDCARE LIMITED

BALANCE SHEET

As at 31 July 2024
ALL MY FRIENDS CHILDCARE LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Tangible assets 5 395,567 403,750
395,567 403,750
Current assets
Stocks 3,500 3,500
Debtors 6 8,784 9,985
Cash at bank and in hand 40,111 53
52,395 13,538
Creditors: amounts falling due within one year 7 ( 740,640) ( 786,696)
Net current liabilities (688,245) (773,158)
Total assets less current liabilities (292,678) (369,408)
Creditors: amounts falling due after more than one year 8 ( 571,916) ( 473,625)
Provision for liabilities 102,250 102,250
Net liabilities ( 762,344) ( 740,783)
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account ( 762,444 ) ( 740,883 )
Total shareholders' deficit ( 762,344) ( 740,783)

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.

Directors' responsibilities:

The financial statements of All My Friends Childcare Limited (registered number: 05725120) were approved and authorised for issue by the Board of Directors on 28 April 2025. They were signed on its behalf by:

Mrs K Heaton-Jones
Director
ALL MY FRIENDS CHILDCARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
ALL MY FRIENDS CHILDCARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

All My Friends Childcare Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 87 Barnwood Road, Gloucester, GL2 0SF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Prior year adjustment

Prior year accounts have been restated to correct for income incorrectly recognised that should have been deferred and for loan interest not previously accounted for. This has been disclosed in full in note 2.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings 2 - 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at X.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Prior year adjustment

Prior year accounts have been restated to correct for income incorrectly recognised that should have been deferred and for loan interest not previously accounted for.

As previously reported Adjustment As restated
Year ended 31 July 2023 £ £ £
Deferred income 0 38,013 38,013
Creditors: amounts falling due after more than one year 459,341 14,284 473,625
Retained earnings (688,586) (52,297) (740,883)

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 31 35

4. Intangible assets

Goodwill Total
£ £
Cost
At 01 August 2023 385,175 385,175
At 31 July 2024 385,175 385,175
Accumulated amortisation
At 01 August 2023 385,175 385,175
At 31 July 2024 385,175 385,175
Net book value
At 31 July 2024 0 0
At 31 July 2023 0 0

5. Tangible assets

Land and buildings Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 August 2023 582,124 21,907 92,703 7,012 703,746
Additions 0 0 693 3,087 3,780
Disposals 0 ( 4,999) 0 0 ( 4,999)
At 31 July 2024 582,124 16,908 93,396 10,099 702,527
Accumulated depreciation
At 01 August 2023 187,297 19,888 87,151 5,660 299,996
Charge for the financial year 7,897 208 1,562 1,110 10,777
Disposals 0 ( 3,813) 0 0 ( 3,813)
At 31 July 2024 195,194 16,283 88,713 6,770 306,960
Net book value
At 31 July 2024 386,930 625 4,683 3,329 395,567
At 31 July 2023 394,827 2,019 5,552 1,352 403,750

6. Debtors

2024 2023
£ £
Trade debtors 786 9,865
Other debtors 7,998 120
8,784 9,985

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts (secured) 36,000 69,854
Trade creditors 4,875 11,879
Amounts owed to directors 608,491 616,526
Other loans 0 4,593
Accruals and deferred income 4,799 41,019
Other taxation and social security 6,542 9,311
Other creditors 79,933 33,514
740,640 786,696

The bank loans and other loans are secured against the property owned by the company, life policy where the director is a beneficiary and an additional personal guarantee by the directors.

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 415,681 473,625
Other loans (secured) 156,235 0
571,916 473,625

The bank loans and other loans are secured against the property owned by the company, life policy where the director is a beneficiary and an additional personal guarantee by the directors.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
75 Ordinary A shares of £ 1.00 each 75 75
25 Ordinary B shares of £ 1.00 each 25 25
100 100