Registered number:
07523457
LAVENDER HILL DAY NURSERY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
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LAVENDER HILL DAY NURSERY LIMITED
REGISTERED NUMBER:
07523457
BALANCE SHEET
AS AT
31 AUGUST 2020
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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LAVENDER HILL DAY NURSERY LIMITED
REGISTERED NUMBER:
07523457
BALANCE SHEET
(CONTINUED)
AS AT
31 AUGUST 2020
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
:
................................................
R Ford
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The notes on pages 4 to 12 form part of these financial statements.
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LAVENDER HILL DAY NURSERY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED
31 AUGUST 2020
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Comprehensive income for the year
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Total comprehensive income for the year
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Comprehensive income for the year
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Total comprehensive income for the year
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The notes on pages 4 to 12 form part of these financial statements.
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LAVENDER HILL DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
Lavender Hill Day Nursery Limited is private company limited by shares. The company is incorporated in England and Wales and its registered office address is Aston House, Cornwall Avenue, London, N3 1LF. The registered number is 10844034. The company's principal activity is that of a day nursery.
2.
Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest pound.
The following principal accounting policies have been applied:
The Directors have evaluated the impact to the Company in respect of the Covid-19 (Coronavirus)
pandemic, ongoing at the time of approving these financial statements. The nursery was closed during the lockdown periods and the Group sought support under various Government initiatives to support the business during this unprecedented period. The Directors are confident that such support is sufficient to support the business and does not consider there to be a material uncertainty to the Company's ability to continue as a going concern as a result of Covid-19.
The Directors are therefore satisfied that the going concern basis is appropriate for the preparation of
these financial statements.
Fees receivable and charges for services are accounted for in the period in which the service is provided. Where fees are received for a future service period they are included in deferred income.
Grants and other voluntary income are accounted for as and when entitlement arises, the amount can be reliably measured and the economic benefit is considered probable.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
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LAVENDER HILL DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
2.
Accounting policies (continued)
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.
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.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. 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:
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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
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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.
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LAVENDER HILL DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
2.
Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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.
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Cash and cash equivalents
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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.
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.
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LAVENDER HILL DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
2.
Accounting policies (continued)
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Provisions for liabilities
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Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
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The average monthly number of employees, including directors, during the year was 19
(2019 -
23
)
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LAVENDER HILL DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
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Charge for the year on owned assets
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LAVENDER HILL DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
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Amounts owed by group undertakings
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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LAVENDER HILL DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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LAVENDER HILL DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
As at 31 August 2020 date the parent company All About Children Limited had outstanding bank borrowings of £11,500,000 (2019: £7,808,995).
The bank borrowings are secured by a charge on all of the present and future assets together with unlimited multilateral guarantees by the companies listed below:
All About Children Limited
Bambino Hannah House Nursery Limited
Cherry Tree Day Nursery Limited
Children's House Day Nursery Limited
Daybreak Interim Holdings Limited
Daybreak Nurseries Limited
Haddenham Day Nursery Limited
Langley Gorse Day Nursery Limited
Lavender Hill Day Nursery Limited
Little Angels Nurseries Limited
Nature's Nursery (Ascot) Limited
Norwood Manor Day Nursery Limited
Playtime Day Nurseries Limited
Silchester Manor Day Nursery Limited
St Charles Limited
The Little People (Gloucester) Limited
Westfields Day Nursery Limited
RMC Nurseries Limited
Bambino Day Nursery (Wycombe) Limited
Beaconsfiled Day Nurseries Limited
Churchgate Day Nursery Limited
Beech Green Day Nursery Limited
Gingerbread House Day Nursery (Croydon) Limited
SJE Nurseries Limited
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £2,719 (2019: £3,207). Contributions totalling £776 (2019: £1,705) were payable to the fund at the balance sheet date and are included in creditors.
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Related party transactions
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The company has taken advantage of the exemptions in FRS 102 Section 33.1A from the requirement to disclose transactions entered into between wholly owned members of the All About Children Limited group.
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LAVENDER HILL DAY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
The immediate parent undertaking is All About Children Limited.
The ultimate parent undertaking, the smallest and the largest group to consolidate these financial statements is All About Children Limited. Copies of the consolidated financial statements can be obtained from Companies House.
R Ford and his close family control the company as a result of their majority shareholding in the parent company.
The auditors' report on the financial statements for the year ended 31 August 2020 was unqualified.
The audit report was signed on 27 May 2021 by
Alexander Chrysaphiades, FCA
(Senior statutory auditor) on behalf of
Adler Shine LLP
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