The Island Day Nursery Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05581960

THE ISLAND DAY NURSERY LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 January 2025

THE ISLAND DAY NURSERY LIMITED

STATEMENT OF FINANCIAL POSITION

31 January 2025

	2025		2024
Note	£	£	£

Fixed assets

Intangible assets	5	11,138	12,995
Tangible assets	6	83,632	95,706
		--------	---------
		94,770	108,701

Current assets

Debtors	7	52,209	50,821
Cash at bank and in hand		235,330	95,224
		---------	---------
		287,539	146,045

Creditors: amounts falling due within one year	8	235,899		151,932
		---------		---------
Net current assets/(liabilities)			51,640	( 5,887)
			---------	---------
Total assets less current liabilities			146,410	102,814

Creditors: amounts falling due after more than one year	9	78,742	124,092
		---------	---------
Net assets/(liabilities)		67,668	( 21,278)
		---------	---------

Capital and reserves

Called up share capital	10	100	100
Profit and loss account		67,568	( 21,378)
		--------	--------
Shareholders funds/(deficit)		67,668	( 21,278)
		--------	--------

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.

For the year ending 31 January 2025 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 year 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 .

THE ISLAND DAY NURSERY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 January 2025

These financial statements were approved by the board of directors and authorised for issue on 4 September 2025 , and are signed on behalf of the board by:

Mr R M Cullen	Mrs R A Cullen
Director	Director

Company registration number: 05581960

THE ISLAND DAY NURSERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 JANUARY 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, Blisworth Hill Farm , Stoke Road, Blisworth, Northampton, Northants, NN7 3DB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Revenue recognition

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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	4% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

Leasehold property	-	4% straight line
Fixtures and fillings	-	20% straight line
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 as a finance cost 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 year amounted to 38 (2024: 35 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 February 2024 and 31 January 2025	46,410
	--------
Amortisation
At 1 February 2024	33,415
Charge for the year	1,857
	--------
At 31 January 2025	35,272
	--------
Carrying amount
At 31 January 2025	11,138
	--------
At 31 January 2024	12,995
	--------

6. Tangible assets

	Long leasehold property	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 February 2024	248,760	34,872	43,035	326,667
Disposals	–	( 34,872)	–	( 34,872)
	---------	--------	--------	---------
At 31 January 2025	248,760	–	43,035	291,795
	---------	--------	--------	---------
Depreciation
At 1 February 2024	161,545	34,872	34,544	230,961
Charge for the year	9,951	–	2,123	12,074
Disposals	–	( 34,872)	–	( 34,872)
	---------	--------	--------	---------
At 31 January 2025	171,496	–	36,667	208,163
	---------	--------	--------	---------
Carrying amount
At 31 January 2025	77,264	–	6,368	83,632
	---------	--------	--------	---------
At 31 January 2024	87,215	–	8,491	95,706
	---------	--------	--------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 31 January 2025	6,232
	-------
At 31 January 2024	8,310
	-------

7. Debtors

	2025	2024
	£	£
Trade debtors	253	2,333
Other debtors	51,956	48,488
	--------	--------
	52,209	50,821
	--------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	32,204	32,204
Trade creditors	12,590	6,460
Accruals and deferred income	154,593	92,198
Corporation tax	24,097	8,066
Social security and other taxes	8,429	6,675
Obligations under finance leases and hire purchase contracts	–	2,342
Other creditors	3,986	3,987
	---------	---------
	235,899	151,932
	---------	---------

Included within creditors due within 1 year are secured debts of £Nil (2024: £2,342). These debts are secured on the assets they relate to.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	78,742	110,946
Obligations under finance leases and hire purchase contracts	–	13,146
	--------	---------
	78,742	124,092
	--------	---------

Included within creditors due after 1 year are secured debts of £Nil (2024: £13,146). These debts are secured on the assets they relate to.

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

11. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr R M Cullen	23,471	31,057	( 26,001)	28,527
	--------	--------	--------	--------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr R M Cullen	13,912	10,960	( 1,401)	23,471
	--------	--------	-------	--------