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Company registration number: 11725604
Littleways Daisybank Limited
Unaudited filleted financial statements
30 August 2024
Littleways Daisybank Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Littleways Daisybank Limited
Directors and other information
Directors Mrs Monisola Alao
Company number 11725604
Registered office 8-10 Gatley Road
Cheadle
Cheshire
SK8 1PY
Business address 78a Daisy Bank Road
Longsight
Manchester
M14 5GL
Accountants Langers
8-10 Gatley Road
Cheadle
Cheshire
SK8 1PY
Littleways Daisybank Limited
Statement of financial position
30 August 2024
30/08/24 31/08/23
Note £ £ £ £
Fixed assets
Tangible assets 5 4,641 8,159
_______ _______
4,641 8,159
Current assets
Debtors 6 4,939 3,639
_______ _______
4,939 3,639
Creditors: amounts falling due
within one year 7 ( 113,164) ( 87,596)
_______ _______
Net current liabilities ( 108,225) ( 83,957)
_______ _______
Total assets less current liabilities ( 103,584) ( 75,798)
_______ _______
Net liabilities ( 103,584) ( 75,798)
_______ _______
Capital and reserves
Called up share capital 8 100 100
Profit and loss account ( 103,684) ( 75,898)
_______ _______
Shareholders deficit ( 103,584) ( 75,798)
_______ _______
For the period ending 30 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 May 2025 , and are signed on behalf of the board by:
Mrs Monisola Alao
Director
Company registration number: 11725604
Littleways Daisybank Limited
Notes to the financial statements
Period ended 30 August 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 8-10 Gatley Road, Cheadle, Cheshire, SK8 1PY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on the going concern basis, on the understanding that the parent company will continue to financially support the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % straight line
Fittings fixtures and equipment - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 21 (2023: 22 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 September 2023 13,486 8,274 21,760
Additions 648 720 1,368
_______ _______ _______
At 30 August 2024 14,134 8,994 23,128
_______ _______ _______
Depreciation
At 1 September 2023 7,647 5,952 13,599
Charge for the year 3,533 1,355 4,888
_______ _______ _______
At 30 August 2024 11,180 7,307 18,487
_______ _______ _______
Carrying amount
At 30 August 2024 2,954 1,687 4,641
_______ _______ _______
At 31 August 2023 5,839 2,322 8,161
_______ _______ _______
6. Debtors
30/08/24 31/08/23
£ £
Trade debtors 4,518 -
Other debtors 421 3,639
_______ _______
4,939 3,639
_______ _______
7. Creditors: amounts falling due within one year
30/08/24 31/08/23
£ £
Trade creditors 2,807 6,929
Other creditors 110,357 80,667
_______ _______
113,164 87,596
_______ _______
8. Called up share capital
Issued, called up and fully paid
30/08/24 31/08/23
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
9. Related party transactions
At the year end 31st August 2024 the company owed Littleways Day Nursery Limited, a company owned by the director, £100,208 (2023 £69,189). This is classified in creditors due within one year and no interest has been charged.
10. Controlling party
The company is owned by Littleways Day Nursery Limited who holds 100% of the shares.