General Information
Park Day Nursery (Reading) Ltd is a private company, limited by shares, registered in England and Wales, registration number 08369267, registration address Plaistow Green Farm, Lovel Road, Winkfield, Windsor, Berkshire, SL4 2ES. The trading address of the company is 8 College Road, Reading, RG6 1QB.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year and and that are expected to apply to the reversal of the timing difference.
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.
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.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of five years.
If there is an indication that there has been a significant change in amortisation rate or residual value of an asset, the amortisation of that asset is revised prospectively to reflect the new expectations.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold property - 2% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised costs using the effective interest method.
|
| 2. |
Average number of employees
Average number of employees during the year was 48 (2024 : 49).
|
| 3. |
Intangible fixed assets
| Cost |
Goodwill |
|
Total |
| |
£ |
|
£ |
| At 01 April 2024 |
447,880 |
|
447,880 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 March 2025 |
447,880 |
|
447,880 |
| Amortisation |
| At 01 April 2024 |
330,728 |
|
330,728 |
| Charge for year |
58,576 |
|
58,576 |
| On disposals |
- |
|
- |
| At 31 March 2025 |
389,304 |
|
389,304 |
| Net book values |
| At 31 March 2025 |
58,576 |
|
58,576 |
| At 31 March 2024 |
117,152 |
|
117,152 |
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Land and buildings |
|
Plant and machinery etc |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 April 2024 |
1,962,983 |
|
66,655 |
|
2,029,638 |
| Additions |
- |
|
59,434 |
|
59,434 |
| Disposals |
- |
|
- |
|
- |
| At 31 March 2025 |
1,962,983 |
|
126,089 |
|
2,089,072 |
| Depreciation |
| At 01 April 2024 |
251,519 |
|
31,464 |
|
282,983 |
| Charge for year |
39,260 |
|
9,331 |
|
48,591 |
| On disposals |
- |
|
- |
|
- |
| At 31 March 2025 |
290,779 |
|
40,795 |
|
331,574 |
| Net book values |
| Closing balance as at 31 March 2025 |
1,672,204 |
|
85,294 |
|
1,757,498 |
| Opening balance as at 01 April 2024 |
1,711,464 |
|
35,191 |
|
1,746,655 |
|
| 5. |
Advances and Credits
S P Brown At the balance sheet date there was an overdrawn balance of £393,716 (2024: £173,696 overdrawn) on S P Brown's director's loan account. The loan is interest free with no fixed date for repayment. Mrs J Brown At the balance sheet date there was an overdrawn balance of £82,842 (2024 £82,493 overdrawn) on Mrs J Brown's loan account. The loan is interest free with no fixed date for repayment. | Brought Forward
£ | Amount
£ | Interest
£ | Repaid
£ | Written Off
£ | Waived
£ | Carry Forward
£ |
|---|
| S P Brown | 173,696 | | 305,763 | | 0 | | 85,743 | | 0 | | 0 | | 393,716 | | Mrs J Brown | 82,493 | | 28,046 | | 0 | | 27,697 | | 0 | | 0 | | 82,842 | | 256189 | | 333809 | | 0 | | 113440 | | 0 | | 0 | | 476558 |
| Brought Forward
£ | Amount
£ | Interest
£ | Repaid
£ | Written Off
£ | Waived
£ | Carry Forward
£ |
|---|
| S P Brown | 4,368 | | 169,328 | | 0 | | 0 | | 0 | | 0 | | 173,696 | | Mrs J Brown | (15,639) | | 136,189 | | 0 | | 38,057 | | 0 | | 0 | | 82,493 | | -11271 | | 305517 | | 0 | | 38057 | | 0 | | 0 | | 256189 |
|
| 6. |
Debtors : Amounts falling due within one year
| . |
|
2025
£ |
|
2024
£ |
| Trade Debtors |
|
16,171 |
|
57,568 |
| Other Debtors |
|
771,137 |
|
577,098 |
|
|
787,308 |
|
634,666 |
|
| 7. |
Creditors : amount falling due within one year
| . |
|
2025
£ |
|
2024
£ |
| Trade Creditors |
|
32,597 |
|
28,002 |
| Bank Loans & Overdrafts |
|
86,100 |
|
87,869 |
| Taxation and Social Security |
|
319,172 |
|
262,101 |
| Other Creditors |
|
62,474 |
|
33,158 |
|
|
500,343 |
|
411,130 |
|
| 8. |
Creditors : Amounts falling due after more than one year
| . |
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts |
|
237,510 |
|
303,375 |
|
|
237,510 |
|
303,375 |
|
| 9. |
Secured debts
The following secured debts are included within creditors:
| Particulars |
|
31.03.25
£ |
|
31.03.24
£ |
| Bank loans |
|
236,910 |
|
243,344 |
The loans are secured by debentures dated 22nd October 2021, 12th March 2013, 18th June 2013 and 1st July 2019 which create a fixed and floating charge over all the assets of the company.
|
| 10. |
Ultimate controlling party
The company is under the control of Mrs J Brown and S P Brown, who control the majority of the issued share capital.
|
2
|