Mid Gavin Nursery Limited Company accounts

COMPANY REGISTRATION NUMBER: SC219812

Mid Gavin Nursery Limited

Unaudited Financial Statements

31 December 2024

Mid Gavin Nursery Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Directors' report	1

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of comprehensive income	3

Statement of financial position	4

Statement of changes in equity	6

Notes to the financial statements	7

Mid Gavin Nursery Limited

Directors' Report

Year ended 31 December 2024

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2024 .

Principal activities

The principal activity of the company during the year was the provision of children's nursery care.

Directors

The directors who served the company during the year were as follows:

Mrs M Richardson
Miss J Richardson

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 26 September 2025 and signed on behalf of the board by:

Mrs M Richardson

Director

Registered office:

6 Fitroy Place

Glasgow

G3 7RH

Mid Gavin Nursery Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Mid Gavin Nursery Limited

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mid Gavin Nursery Limited for the year ended 31 December 2024, which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Mid Gavin Nursery Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Mid Gavin Nursery Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mid Gavin Nursery Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mid Gavin Nursery Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mid Gavin Nursery Limited. You consider that Mid Gavin Nursery Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Mid Gavin Nursery Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

GILLILAND & COMPANY Chartered Accountants

216 West George Street Glasgow G2 2PQ

26 September 2025

Mid Gavin Nursery Limited

Statement of Comprehensive Income

Year ended 31 December 2024

	2024	2023
Note	£	£
Turnover	692,736	740,424

Cost of sales	55,301	52,755
	---------	---------
Gross profit	637,435	687,669

Administrative expenses	525,539	538,595
	---------	---------
Operating profit	111,896	149,074

Interest payable and similar expenses		12,319	7,528
		---------	---------
Profit before taxation	5	99,577	141,546

Tax on profit	( 17,364)	35,078
	---------	---------
Profit for the financial year and total comprehensive income	116,941	106,468
	---------	---------

All the activities of the company are from continuing operations.

The company has no other recognised items of income and expenses other than the results for the year as set out above.

Mid Gavin Nursery Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	6		216,877	225,498

Current assets

Debtors	7	79,864	181,731
Cash at bank and in hand		68,018	49,056
		---------	---------
		147,882	230,787

Creditors: amounts falling due within one year	8	37,730		73,627
		---------		---------
Net current assets			110,152	157,160
			---------	---------
Total assets less current liabilities			327,029	382,658

Creditors: amounts falling due after more than one year	9		78,787	100,953

Provisions

Taxation including deferred tax	1,198	1,602
	---------	---------
Net assets	247,044	280,103
	---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	247,042	280,101
	---------	---------
Shareholders funds	247,044	280,103
	---------	---------

These financial statements have been prepared 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'.

For the year ending 31 December 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 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 .

Mid Gavin Nursery Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

Mrs M Richardson

Director

Company registration number: SC219812

Mid Gavin Nursery Limited

Statement of Changes in Equity

Year ended 31 December 2024

	Called up share capital	Profit and loss account	Total
	£	£	£
At 1 January 2023	2	323,633	323,635

Profit for the year		106,468	106,468
	----	---------	---------
Total comprehensive income for the year	–	106,468	106,468

Issue of bonus shares	–	( 150,000)	( 150,000)
	----	---------	---------
Total investments by and distributions to owners	–	( 150,000)	( 150,000)

At 31 December 2023	2	280,101	280,103

Profit for the year		116,941	116,941
	----	---------	---------
Total comprehensive income for the year	–	116,941	116,941

Issue of bonus shares	–	( 150,000)	( 150,000)
	----	---------	---------
Total investments by and distributions to owners	–	( 150,000)	( 150,000)

	----	---------	---------
At 31 December 2024	2	247,042	247,044
	----	---------	---------

Mid Gavin Nursery Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 6 Fitroy Place, Glasgow, G3 7RH.

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.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for the provision of nursery services.

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.

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:

Freehold property	-	2% straight line
Fixtures & equipment	-	25% reducing balance
Motor Vehicles	-	25% reducing balance
Equipment	-	3 years straight line

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

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 21 (2023: 21 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2024	2023
	£	£
Depreciation of tangible assets	8,621	8,630
	-------	-------

6. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 January 2024 and 31 December 2024	342,700	98,519	3,353	626	445,198
	---------	--------	-------	----	---------
Depreciation
At 1 January 2024	124,272	91,458	3,344	626	219,700
Charge for the year	6,854	1,765	2	–	8,621
	---------	--------	-------	----	---------
At 31 December 2024	131,126	93,223	3,346	626	228,321
	---------	--------	-------	----	---------
Carrying amount
At 31 December 2024	211,574	5,296	7	–	216,877
	---------	--------	-------	----	---------
At 31 December 2023	218,428	7,061	9	–	225,498
	---------	--------	-------	----	---------

7. Debtors

	2024	2023
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	65,969	178,287
Other debtors	13,895	3,444
	--------	---------
	79,864	181,731
	--------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	22,163	22,163
Trade creditors	2,709	2,091
Corporation tax	1,771	34,863
Social security and other taxes	3,062	5,585
Other creditors	8,025	8,925
	--------	--------
	37,730	73,627
	--------	--------

The Bank loans and overdrafts are secured by a Standard Security over the company's Heritable Property and by a Bond and Floating Charge over the company's assets. In addition there is an intercompany bank guarantee in respect of the company's holding company, Somerset Nursery Services Limited.

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

	2024	2023
	£	£
Bank loans and overdrafts	78,787	100,953
	--------	---------

10. Related party transactions

The company was under the control of Somerset Nursery Services Limited, which is under the control of Mrs Mary Richardson and Miss Julie Richardson. The company provided loan funds to Somerset Nursery Services Limited. As at 31st December 2024 £65,968 was due from Somerset Nursery Services Limited (2023: £178,287). During the year the company paid dividends to its parent company of £150,000 (2023: £150,000).

11. Controlling party

The company's parent company is Somerset Nursery Services Limited.