Registered number
SC205489
First Nursery Limited
Filleted Accounts
31 March 2025
First Nursery Limited
Registered number: SC205489
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 133,407 139,094
Investments 4 445,354 -
578,761 139,094
Current assets
Debtors 5 6,401 11,692
Cash at bank and in hand 50,474 84,473
56,875 96,165
Creditors: amounts falling due within one year 6 (160,968) (68,061)
Net current (liabilities)/assets (104,093) 28,104
Total assets less current liabilities 474,668 167,198
Creditors: amounts falling due after more than one year 7 (345,788) (19,468)
Net assets 128,880 147,730
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 127,880 146,730
Shareholder's funds 128,880 147,730
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Saima Zafar
Director
Approved by the board on 16 June 2025
First Nursery Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
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:
Freehold buildings 2% Straight line
Fixtures, fittings, tools and equipment 25% Reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 32 30
3 Tangible fixed assets
Land and buildings Fixtures, fittings & equipment Total
£ £ £
Cost
At 1 April 2024 245,601 88,611 334,212
Additions - 1,316 1,316
At 31 March 2025 245,601 89,927 335,528
Depreciation
At 1 April 2024 114,871 80,247 195,118
Charge for the year 4,912 2,091 7,003
At 31 March 2025 119,783 82,338 202,121
Net book value
At 31 March 2025 125,818 7,589 133,407
At 31 March 2024 130,730 8,364 139,094
4 Investments
Other
investments
£
Cost
Additions 445,354
At 31 March 2025 445,354
5 Debtors 2025 2024
£ £
Trade debtors 4,644 10,226
Other debtors 1,757 1,466
6,401 11,692
6 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 2,798 1,827
Accruals 884 13,348
Taxation and social security costs 17,793 20,242
Other creditors 139,493 32,644
160,968 68,061
7 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 326,643 -
Other creditors 19,145 19,468
345,788 19,468
8 Loans 2025 2024
£ £
Creditors include:
Secured bank loans 326,643 -
The Atom Bank loan contains a floating charge secured over the assets of the Nursery.
9 Controlling party
The director, Mrs S Zafar, and her husband, hold a 100% beneficial interest in the share capital of the company.
10 Other information
First Nursery Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
Kingsland Square
Peebles
EH45 8EZ
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