Registered number
04525390
Shibden Head Day Nursery Limited
Unaudited Filleted Accounts
31 August 2024
Shibden Head Day Nursery Limited
Registered number: 04525390
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 883,239 910,713
Current assets
Cash at bank and in hand 45 2,797
Creditors: amounts falling due within one year 4 (178,486) (115,320)
Net current liabilities (178,441) (112,523)
Total assets less current liabilities 704,798 798,190
Creditors: amounts falling due after more than one year 5 (618,694) (652,650)
Net assets 86,104 145,540
Capital and reserves
Share premium 100 100
Profit and loss account 86,004 145,440
Shareholders' funds 86,104 145,540
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Wray
Director
Approved by the board on 2 October 2024
Shibden Head Day Nursery Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Property & property improvements over 50 years
Motor vehicles over 5 years
Computer equipment over 3 years
Furniture, equipment and toys 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 26 34
3 Tangible fixed assets
Property & property improvement Furniture, equipment & toys Commercial vehicles Total
£ £ £ £
Cost
At 1 September 2023 1,070,038 72,626 23,500 1,166,164
At 31 August 2024 1,070,038 72,626 23,500 1,166,164
Depreciation
At 1 September 2023 177,195 62,156 16,100 255,451
Charge for the year 21,400 2,374 3,700 27,474
At 31 August 2024 198,595 64,530 19,800 282,925
Net book value
At 31 August 2024 871,443 8,096 3,700 883,239
At 31 August 2023 892,843 10,470 7,400 910,713
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 71,301 27,457
Trade creditors 1,840 2,648
Taxation and social security costs 25,539 15,339
Directors loan 71,808 61,408
Accruals 6,700 6,700
Other creditors 1,298 1,768
178,486 115,320
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 618,694 652,650
6 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 489,642 545,621
Secured bank loans 633,534 651,833
Bank loans are secured by way of charges over freehold land and buildings and by way of debenture.
7 Other information
Shibden Head Day Nursery Limited is a private company limited by shares and incorporated in England. Its registered office is:
49 Halifax Road
Ambler Thorn
Queensbury
Bradford
BD13 2DT
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