REGISTERED NUMBER: OC365732 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Childcare (East Midlands) LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs S E Mills

Mr H Mills

REGISTERED OFFICE:

Cherubs Day Nursery

Longdale Lane

Ravenshead

Nottinghamshire

NG15 9AH

REGISTERED NUMBER:

OC365732 (England and Wales)

ACCOUNTANTS:

Franklins

18 St Christopher's Way

Pride Park

Derby

Derbyshire

DE24 8JY

FIXED ASSETS

Intangible assets

4

17,533

24,128

Tangible assets

5

3,363,968

3,391,820

Investment property

6

558,093

558,093

3,939,594

3,974,041

CURRENT ASSETS

Stocks

7

13,768

13,708

Debtors

8

568,660

651,449

Cash at bank

132,401

381,978

714,829

1,047,135

CREDITORS

Amounts falling due within one year

9

616,024

515,470

NET CURRENT ASSETS

98,805

531,665

TOTAL ASSETS LESS CURRENT LIABILITIES

4,038,399

4,505,706

CREDITORS

Amounts falling due after more than one year

10

3,662,381

14,320

NET ASSETS ATTRIBUTABLE TO MEMBERS

376,018

4,491,386

LOANS AND OTHER DEBTS DUE TO MEMBERS

1,106

547,750

MEMBERS' OTHER INTERESTS

Capital accounts

190,302

3,759,026

Revaluation reserve

11

184,610

184,610

376,018

4,491,386

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

1,106

547,750

Members' other interests

374,912

3,943,636

Amounts due from members

8

(190,007

)

(573,842

)

186,011

3,917,544

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 11 September 2025 and were signed by:

Mrs S E Mills - Designated member

1.	STATUTORY INFORMATION

Childcare (East Midlands) LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the use of fair values for certain financial instruments in accordance with the accounting policies set out below.

Turnover

Turnover represents net invoiced sales of child care services, excluding value added tax. Turnover is recognised when the likelihood of economic benefits flowing to the LLP is probable.

Goodwill

Goodwill, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property

-

no depreciation charged

Improvements to property

-

2% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value. No stocks are purchased for resale.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Taxation

Taxation on all of the LLP's profits are solely the personal liabilities of individual members. Consequently, neither taxation nor related deferred taxation arising in the LLP are accounted for in these financial statements. Amounts retained for tax are treated in the same way as other profits of the LLP and so are included in members' other interests or in loans and other debts due to members depending on whether or not division of profits has occurred.

Financial instruments

The LLP enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from and to related parties.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are amounts due for services rendered in the ordinary course of business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the LLP will not be able to collect all amounts due according to the original terms of the debtor.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade creditors are classified as current liabilities of the LLP and does not have an unconditional right, at the end of the reporting date, 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 at the transaction price.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 226 (2024 - 224 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

1,552,572

AMORTISATION

At 1 April 2024

1,528,444

Amortisation for year

6,595

At 31 March 2025

1,535,039

NET BOOK VALUE

At 31 March 2025

17,533

At 31 March 2024

24,128

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

Motor

property

property

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

2,496,017

765,629

687,544

128,382

4,077,572

Additions

-

33,602

53,790

-

87,392

Disposals

-

-

-

(40,190

)

(40,190

)

At 31 March 2025

2,496,017

799,231

741,334

88,192

4,124,774

DEPRECIATION

At 1 April 2024

97,498

38,336

474,017

75,901

685,752

Charge for year

-

15,985

66,829

6,683

89,497

Eliminated on disposal

-

-

-

(14,443

)

(14,443

)

At 31 March 2025

97,498

54,321

540,846

68,141

760,806

NET BOOK VALUE

At 31 March 2025

2,398,519

744,910

200,488

20,051

3,363,968

At 31 March 2024

2,398,519

727,293

213,527

52,481

3,391,820

It has been agreed that the freehold property introduced and recognised on the balance sheet of the LLP on 31st August 2011 is not intended to be an asset of the LLP but it is agreed that each of the members will retain and ringfence their respective ownership of the freehold property after 31st August 2011.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

558,093

NET BOOK VALUE

At 31 March 2025

558,093

At 31 March 2024

558,093

Fair value at 31 March 2025 is represented by:

£

Valuation in 2021

550,000

Valuation in 2022

35,000

Valuation in 2024

(26,907

)

558,093

If the investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

376,092

376,092

Aggregate depreciation

(37,609

)

(37,609

)

The investment property was valued on an open market basis on 31 March 2025 by Mrs Susan Mills .

7.

STOCKS

2025

2024

£

£

Stocks

13,768

13,708

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,731

4,737

Amounts owed by associates

367,758

-

Amounts due from members

190,007

573,842

Other debtors

-

61,427

Prepayments and accrued income

9,164

11,443

568,660

651,449

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Finance leases

5,394

5,035

Trade creditors

20,482

18,907

Social security and other taxes

41,747

23,534

Other creditors

493,947

397,949

Accruals and deferred income

54,454

70,045

616,024

515,470

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans more 5 yr by instal

3,654,000

-

Finance leases

6,747

12,141

Accruals and deferred income

1,634

2,179

3,662,381

14,320

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

3,654,000

-

11.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

184,610

12.	RELATED PARTY DISCLOSURES

During the year a company under common control with common directors/members was also a member of the LLP. At the end of the period the LLP owed a balance of £190,302 (2024: £3,759,026) to the related party. The outstanding balance has been provided free from interest and is repayable on demand.

During the year the LLP traded with two companies in which Mrs S Mills is a director and has significant influence. During the period one company charged the LLP £776,917 (2024: £501,719) in respect to repairs and renewals expenditure. All transactions were carried out on an arms length basis. At the end of the period the LLP was owed a balance of £30,644 (2024: £Nil) from these companies. The outstanding balance has been provided free from interest and is repayable on demand.

At the end of the period the LLP was owed a balance of £337,114 (2024: £Nil) from two companies under common control and with common directors as the LLP. The outstanding balance has been provided free from interest and is repayable on demand.

13.	MEMBERS INTERESTS

Loans and other debts due to members rank pari passu with unsecured creditors and may be set off against amounts due from members included in debtors. Members' other interest rank pari passu with unsecured creditors.