Kedleston (Wood Grove Childcare) Limited 00966484 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is the operation of a children's home to young children with social, emotional and mental health needs. Digita Accounts Production Advanced 6.30.9574.0 true true 00966484 2024-01-01 2024-12-31 00966484 2024-12-31 00966484 bus:Consolidated 2024-12-31 00966484 core:RetainedEarningsAccumulatedLosses 2024-12-31 00966484 core:ShareCapital 2024-12-31 00966484 core:CurrentFinancialInstruments 2024-12-31 00966484 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 00966484 core:FurnitureFittingsToolsEquipment 2024-12-31 00966484 core:LandBuildings 2024-12-31 00966484 core:MotorVehicles 2024-12-31 00966484 bus:SmallEntities 2024-01-01 2024-12-31 00966484 bus:Audited 2024-01-01 2024-12-31 00966484 bus:FilletedAccounts 2024-01-01 2024-12-31 00966484 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 00966484 bus:RegisteredOffice 2024-01-01 2024-12-31 00966484 bus:CompanySecretary1 2024-01-01 2024-12-31 00966484 bus:Director2 2024-01-01 2024-12-31 00966484 bus:Director3 2024-01-01 2024-12-31 00966484 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 00966484 core:Buildings 2024-01-01 2024-12-31 00966484 core:FurnitureFittings 2024-01-01 2024-12-31 00966484 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 00966484 core:LandBuildings 2024-01-01 2024-12-31 00966484 core:LeaseholdImprovements 2024-01-01 2024-12-31 00966484 core:MotorVehicles 2024-01-01 2024-12-31 00966484 core:PlantMachinery 2024-01-01 2024-12-31 00966484 countries:EnglandWales 2024-01-01 2024-12-31 00966484 2023-12-31 00966484 core:RetainedEarningsAccumulatedLosses 2023-12-31 00966484 core:ShareCapital 2023-12-31 00966484 core:CurrentFinancialInstruments 2023-12-31 00966484 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 00966484 core:FurnitureFittingsToolsEquipment 2023-12-31 00966484 core:LandBuildings 2023-12-31 00966484 core:MotorVehicles 2023-12-31 00966484 2023-01-01 2023-12-31 00966484 2023-12-31 00966484 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 00966484 core:FurnitureFittingsToolsEquipment 2023-12-31 00966484 core:LandBuildings 2023-12-31 00966484 core:MotorVehicles 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 00966484

Prepared for the registrar

Kedleston (Wood Grove Childcare) Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2024

 

Kedleston (Wood Grove Childcare) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Kedleston (Wood Grove Childcare) Limited

Company Information

Directors

P Brosnan

A R Hurran

Company secretary

A R Hurran

Registered office

Unit 7
Brook Business Centre
Cowley Mill Road
Uxbridge
Middlesex
UB8 2FX

Auditors

Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

Kedleston (Wood Grove Childcare) Limited

(Registration number: 00966484)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

3,503,473

3,956,668

Current assets

 

Debtors

7

1,100,905

1,784,036

Cash at bank and in hand

 

294,280

343,387

 

1,395,185

2,127,423

Creditors: Amounts falling due within one year

8

(3,749,612)

(5,444,384)

Net current liabilities

 

(2,354,427)

(3,316,961)

Total assets less current liabilities

 

1,149,046

639,707

Deferred tax liabilities

(30,036)

(74,942)

Net assets

 

1,119,010

564,765

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

1,118,910

564,665

Shareholders' funds

 

1,119,010

564,765

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 June 2025 and signed on its behalf by:
 


P Brosnan
Director

 

Kedleston (Wood Grove Childcare) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 7
Brook Business Centre
Cowley Mill Road
Uxbridge
Middlesex
UB8 2FX

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Name of parent of group

These financial statements are consolidated in the financial statements of Kedleston Schools Limited, Kedleston Group Limited and Kyanite Limited.

The financial statements of Kedleston Schools Limited and Kedleston Group Limited may be obtained from Companies House. The financial statements of Kyanite Limited may be obtained from One The Esplanade, St Helier, JE2 3QA upon written request to the Directors.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

 

Kedleston (Wood Grove Childcare) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

2% straight line with a 20% residual value

Leasehold property

Over the period of the lease

Plant and machinery

20% straight line

Motor vehicles

33% straight line

Fixtures and fittings

20%-33% straight line

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Kedleston (Wood Grove Childcare) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

Kedleston (Wood Grove Childcare) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

 

3

Exceptional items

2024
 £

2023
 £

Exceptional items

26,446

-

Exceptional items in the current year consist of redundancy costs.

 

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was as follows:

Auditors' remuneration has been borne by a related party.

 

6

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost

At 1 January 2024

3,674,205

481,808

257,506

4,413,519

Additions

22,160

52,866

64,669

139,695

Disposals

(375,138)

(278,680)

(37,275)

(691,093)

At 31 December 2024

3,321,227

255,994

284,900

3,862,121

Depreciation

At 1 January 2024

179,160

202,767

74,924

456,851

Charge for the year

57,863

76,693

85,362

219,918

Eliminated on disposal

(110,136)

(179,492)

(28,493)

(318,121)

At 31 December 2024

126,887

99,968

131,793

358,648

Carrying amount

At 31 December 2024

3,194,340

156,026

153,107

3,503,473

At 31 December 2023

3,495,045

279,041

182,582

3,956,668

 

7

Debtors

2024
 £

2023
 £

Trade debtors

216,340

826,458

Amounts owed by group undertakings

807,556

903,556

Other debtors

19,197

374

Prepayments

57,812

53,648

 

1,100,905

1,784,036

 

Kedleston (Wood Grove Childcare) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

 

8

Creditors

2024
 £

2023
 £

Due within one year

Trade creditors

39,012

33,403

Amounts due to group undertakings

3,572,966

4,863,973

Social security and other taxes

54,966

58,593

Outstanding defined contribution pension costs

8,734

10,215

Other creditors

12,425

8,896

Accrued expenses

61,509

68,723

Deferred income

-

400,581

3,749,612

5,444,384

 

9

Contingent liabilities

The company is bound by an intra-group cross guarantee in respect of bank debt with other members of the group at the balance sheet date. The amount guaranteed is £62,591,566 (2023 - £63,000,000).

 

10

Parent and ultimate parent undertaking

The company's immediate parent is Kedleston Schools Limited, incorporated in England and Wales.

 The ultimate parent is Kyanite Limited, incorporated in Jersey.

 There is considered to be no single controlling party.

 

11

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 9 June 2025 was Martin Howard, who signed for and on behalf of Hazlewoods LLP.