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Registered number: 10482970 SMART PRE-SCHOOL EDUCATION LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
SMART PRE-SCHOOL EDUCATION LIMITED REGISTERED NUMBER:10482970
BALANCE SHEET AS AT 31 AUGUST 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 4 |  | 6,550,200 |  | 379,227
Investment property | 5 |  | 3,787,068 |  | 1,697,568
|  |  | 10,337,268 |  | 2,076,795
Current assets |  |  |  |  |
Debtors | 6 | 179,746 |  | 806,057 |
Cash at bank and in hand |  | 36,441 |  | 14,406 |
|  | 216,187 |  | 820,463 |
Creditors: amounts falling due within one year | 7 | (1,586,311) |  | (1,188,178) |
Net current liabilities |  |  | (1,370,124) |  | (367,715)
Creditors: amounts falling due after more than one year | 8 |  | (8,694,035) |  | (1,597,940)
Net assets |  |  | 273,109 |  | 111,140
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 200 |  | 200
Profit and loss account |  |  | 272,909 |  | 110,940
|  |  | 273,109 |  | 111,140
Page 1
SMART PRE-SCHOOL EDUCATION LIMITED REGISTERED NUMBER:10482970
BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ A Michaelsen
Director
Date: 12 December 2025
The notes on pages 3 to 8 form part of these financial statements. Page 2
SMART PRE-SCHOOL EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
1. | General information
Smart Pre-School Education Limited is a limited liability company incorporated in England. The registered office is 63 High Street, Wimbledon, London, SW19 5EE. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Interest income
Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.
| 2.3 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.4 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred. Page 3
SMART PRE-SCHOOL EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.5 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.6 | Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
| 2.7 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.8 | Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.9 | 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. Page 4
SMART PRE-SCHOOL EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.10 | 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 measured subsequently at amortised cost using the effective interest method.
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
4. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 September 2024 | 379,227
| Additions | 6,170,973
| At 31 August 2025 | 6,550,200
| During the year, the company aquired 100% of the shares of The Gardens Childcare Limited.
Page 5
SMART PRE-SCHOOL EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
5. | Investment property
|  | Long term leasehold investment property
|  | £
| Valuation |
| At 1 September 2024 | 1,697,568
| Additions at cost | 2,089,500
| At 31 August 2025 | 3,787,068
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 179,746 | 806,057
7. | Creditors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 226,365 | 162,863
| Other loans | 334,211 | -
| Other creditors | 996,812 | 996,812
| Accruals and deferred income | 28,923 | 28,503
|  | 1,586,311 | 1,188,178
Page 6
SMART PRE-SCHOOL EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
8. | Creditors: amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 7,367,142 | 1,597,940
| Other loans | 1,326,893 | -
|  | 8,694,035 | 1,597,940
9. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 226,365 | 162,863
| Other loans | 334,211 | -
| Amounts falling due 1-2 years |  |
| Bank loans | 240,171 | 162,863
| Other loans | 298,906 | -
| Amounts falling due 2-5 years |  |
| Bank loans | 811,730 | 1,435,077
| Other loans | 1,027,987 | -
| Amounts falling due after more than 5 years |  |
| Bank loans | 6,315,242 | -
|  | 9,254,612 | 1,760,803
Page 7
SMART PRE-SCHOOL EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
10. | Related party transactions and balances
| Within other creditors there is an amount of £996,812 (2024: £996,812) owed to A Michaelsen and P W Michaelsen, the directors and shareholders of the company. Within accruals and deferred income there is interest payable of £21,306 (2024: £21,306) owed to A Michaelsen and P W Michaelsen, the directors and shareholders of the company. During the year total dividends of £nil (2024: £56,137) was received from Smart Southfields Limited, the 100% owned subsidiary of Smart Pre-School Education Limited. Included in other loan is a loan to The Gardens Childcare Limited of £63,637. This loan has no terms of repayment has no interest charged. Included in other loan is a loan to Smart Southfields Limited of £179,746 (2024: £806,057). This loan has no terms of repayment has no interest charged. Within other creditors is a loan from Maxel Limited of £1,597,467, a related party. This loan has an interest rate charged of 10% over a 5 year term.
11. | Controlling party
The ultimate controlling party is A Michaelsen and P W Michaelsen who have joint control as both directors and shareholders of the company.
Page 8