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Registration number: 11018027 (England and Wales)

Prepared for the registrar
Pinecones Day Nursery Limited
Annual Report and Unaudited Financial Statements
for the Period from 1 September 2024 to 30 November 2025

Pinecones Day Nursery Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 7

Pinecones Day Nursery Limited

Company Information

Directors | E Burgess W R Thresher

Registered office | Suite 3 Wentworth Lodge Great North Road Welwyn Garden City England AL8 7SR

Accountants | Hazlewoods LLP Windsor House Bayshill Road Cheltenham GL50 3AT

Pinecones Day Nursery Limited

(Registration number: 11018027) (England and Wales)
Balance Sheet as at 30 November 2025

| Note | 30 November 2025 £ | 31 August 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 33,251 | 50,175
Current assets |  |  |
Debtors | 5 | - | 104,164
Cash at bank and in hand |  | 337,447 | 577
|  | 337,447 | 104,741
Creditors: Amounts falling due within one year | 6 | (90,218) | (33,156)
Net current assets |  | 247,229 | 71,585
Total assets less current liabilities |  | 280,480 | 121,760
Creditors: Amounts falling due after more than one year | 6 | (26,360) | (31,371)
Deferred tax liabilities |  | (8,313) | -
Net assets |  | 245,807 | 90,389
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | 245,707 | 90,289
Shareholders' funds |  | 245,807 | 90,389

For the financial period ending 30 November 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 accounts for the period in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 August 2026 and signed on its behalf by:

W R Thresher
Director

Pinecones Day Nursery Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2024 to 30 November 2025

| 1 | General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
Suite 3 Wentworth Lodge
Great North Road
Welwyn Garden City
England
AL8 7SR

| 2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Disclosure of long or short period

The financial statements cover a period of 455 days. The accounting period has been lengthened to bring the year end in line with the date of acquisition by LGDN Bidco Limited, the company's new intermediate parent undertaking.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of discounts. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Pinecones Day Nursery Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2024 to 30 November 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Fixtures, fittings and equipment | Straight line over 5 years

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Pinecones Day Nursery Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2024 to 30 November 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Pinecones Day Nursery Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2024 to 30 November 2025

| 3 | Staff numbers

The average number of persons employed by the company (including directors) during the period, was as follows:

| 1 September 2024 to 30 November 2025 No. | Year ended 31 August 2024 No.
Average number of employees | 21 | 26

| 4 | Tangible assets

| Furniture, fittings and equipment £
Cost
At 1 September 2024 and at 30 November 2025 | 67,696
Depreciation
At 1 September 2024 | 17,521
Charge for the period | 16,924
At 30 November 2025 | 34,445
Carrying amount
At 30 November 2025 | 33,251
At 31 August 2024 | 50,175

| 5 | Debtors

| 30 November 2025 £ | 31 August 2024 £
Other debtors | - | 104,164

| 6 | Creditors

| 30 November 2025 £ | 31 August 2024 £
Due within one year |  |
Taxation and social security | 60,942 | 13,031
Accruals and deferred income | 866 | 20,124
Other creditors | 28,410 | 1
| 90,218 | 33,156

| Note | 30 November 2025 £ | 31 August 2024 £
Due after one year |  |  |
Loans and borrowings | 7 | 26,360 | 31,371

Pinecones Day Nursery Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2024 to 30 November 2025

| 7 | Loans and borrowings

Non-current loans and borrowings

| 30 November 2025 £ | 31 August 2024 £
Bank borrowings | 26,360 | 31,371

| 8 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of operating lease commitments not included in the balance sheet is £129,500 (2024 - £155,750).

| 9 | Parent and ultimate parent undertaking

Until 12 August 2025, the immediate parent was Naturally Curious Childcare Limited. The ultimate parent was Errenas (NCC) Limited. The ultimate controlling party was N N Dudman.
Between 12 August 2025 and 20 August 2025, the immediate parent was Errenas (NCC) Limited.
Since this date, the company's immediate parent is Alletun Limited, incorporated in the United Kingdom.
Since 1 December 2025, the ultimate parent is Family First Topco Limited, incorporated in the United Kingdom.
The ultimate controlling party is August Equity Partners V General Partners LLP.

| 10 | Disclosure under Section 444 (5B) CA 2006

As permitted by Section 444 CA 2006, these accounts do not contain a copy of the company’s Profit and Loss account or a copy of the Directors’ Report. These accounts are unaudited.