Millies Day Nursery Borehamwood Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

1. General Information

Millies Day Nursery Borehamwood Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13293007 . The registered office is 145-147 Hatfield Road, St Albans, Herfordshire, AL1 4JY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Improvements	10% Straight Line
Motor Vehicles	25% Straight Line
Fixtures & Fittings	25% Straight Line
Computer Equipment	25% Straight Line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Millies Day Nursery Borehamwood Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was:

	2025	2024
Office and administration	18	14

	18	14

4. Tangible Assets

	Land & Property
	Improvements	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2024	101,349	119,348	63,535	4,986	289,218
Additions	9,047	-	400	4,410	13,857

As at 31 March 2025	110,396	119,348	63,935	9,396	303,075

Depreciation
As at 1 April 2024	26,660	7,818	37,581	859	72,918
Provided during the period	10,865	29,837	15,909	2,349	58,960

As at 31 March 2025	37,525	37,655	53,490	3,208	131,878

Net Book Value
As at 31 March 2025	72,871	81,693	10,445	6,188	171,197

As at 1 April 2024	74,689	111,530	25,954	4,127	216,300

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	22,786	-
Prepayments and accrued income	16,663	-
Rent Deposit	16,973	16,973

	56,422	16,973

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Millies Day Nursery Borehamwood Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	13,409	13,409
Trade creditors	15,469	228
Corporation tax	9,995	-
Other taxes and social security	8,008	4,722
Pension Fund	1,399	819
Deferred Income	43,338	-
Advances Received	-	10,524
Directors' loan accounts	27,071	24,353
Amounts owed to associates	83,706	86,826

	202,395	140,881

Included within Amounts owed to associates is a balance of £83,706 (2024:£86,826), which is owed to Millie's Day Nursery Ltd of which, Michelle Ryan is also a director.

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	69,252	82,661

8. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	13,409	13,409
Later than one year and not later than five years	69,252	82,661

	82,661	96,070

	82,661	96,070

9. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
2 Ordinary Shares of £ 1.00 each	2	2

10. Directors Advances, Credits and Guarantees

Included within Creditors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mrs Michelle Ryan	(12,176 )	321	(1,681 )	-	(13,536 )
Mr Richard Ryan	(12,176 )	321	(1,680 )	-	(13,535 )

The above loan is unsecured, interest free and repayable on demand.

11. Ultimate Controlling Party

The company's ultimate controlling parties are Richard Ryan and Michelle Ryan by virtue of their ownership of 100% of the issued share capital in the company.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		171,197		216,300

			171,197		216,300
CURRENT ASSETS
Debtors	5	56,422		16,973
Cash at bank and in hand		187,968		77,585

		244,390		94,558
Creditors: Amounts Falling Due Within One Year	6	(202,395 )		(140,881 )

NET CURRENT ASSETS (LIABILITIES)			41,995		(46,323 )

TOTAL ASSETS LESS CURRENT LIABILITIES			213,192		169,977

Creditors: Amounts Falling Due After More Than One Year	7		(69,252 )		(82,661 )

NET ASSETS			143,940		87,316

CAPITAL AND RESERVES
Called up share capital	9		2		2
Profit and Loss Account			143,938		87,314

SHAREHOLDERS' FUNDS			143,940		87,316