Company Registration No. 11841104 (England and Wales)
ADVENTURE AWAITS DAY NURSERY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 NOVEMBER 2022
PAGES FOR FILING WITH REGISTRAR
ADVENTURE AWAITS DAY NURSERY LTD
COMPANY INFORMATION
Directors
Mr B Eaves
Mrs R E Eaves
Company number
11841104
Registered office
62 Birchfield Road
Redditch
B97 4LH
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Barclays Bank Plc
Leicester
Leicestershire
LE87 2BB
ADVENTURE AWAITS DAY NURSERY LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
ADVENTURE AWAITS DAY NURSERY LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ADVENTURE AWAITS DAY NURSERY LTD FOR THE PERIOD ENDED 29 NOVEMBER 2022
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Adventure Awaits Day Nursery Ltd for the period ended 29 November 2022 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of Adventure Awaits Day Nursery Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Adventure Awaits Day Nursery Ltd and state those matters that we have agreed to state to the Board of Directors of Adventure Awaits Day Nursery Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Adventure Awaits Day Nursery Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Adventure Awaits Day Nursery Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Adventure Awaits Day Nursery Ltd. You consider that Adventure Awaits Day Nursery Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Adventure Awaits Day Nursery Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
30 August 2023
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
ADVENTURE AWAITS DAY NURSERY LTD
BALANCE SHEET
AS AT 29 NOVEMBER 2022
29 November 2022
- 2 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
202,768
37,426
Current assets
Debtors
4
40,079
40,079
Cash at bank and in hand
16,888
25,551
56,967
65,630
Creditors: amounts falling due within one year
5
(192,642)
(67,660)
Net current liabilities
(135,675)
(2,030)
Total assets less current liabilities
67,093
35,396
Creditors: amounts falling due after more than one year
6
(19,877)
(28,000)
Provisions for liabilities
7
(38,465)
(7,038)
Net assets
8,751
358
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
8,651
258
Total equity
8,751
358
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 29 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ADVENTURE AWAITS DAY NURSERY LTD
BALANCE SHEET (CONTINUED)
AS AT 29 NOVEMBER 2022
29 November 2022
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 30 August 2023 and are signed on its behalf by:
Mr B Eaves
Mrs R E Eaves
Director
Director
Company Registration No. 11841104
ADVENTURE AWAITS DAY NURSERY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 NOVEMBER 2022
- 4 -
1
Accounting policies
Company information
Adventure Awaits Day Nursery Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 62 Birchfield Road, Redditch, B97 4LH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% on reducing balance
Computer equipment
33% on cost
Motor vehicles
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
ADVENTURE AWAITS DAY NURSERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 NOVEMBER 2022
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
1.8
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 24 (2021 - 17).
ADVENTURE AWAITS DAY NURSERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 NOVEMBER 2022
- 6 -
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2021
37,258
4,554
41,812
Additions
1,927
2,685
164,765
169,377
At 29 November 2022
39,185
7,239
164,765
211,189
Depreciation and impairment
At 1 December 2021
2,259
2,127
4,386
Depreciation charged in the period
1,623
2,412
4,035
At 29 November 2022
3,882
4,539
8,421
Carrying amount
At 29 November 2022
35,303
2,700
164,765
202,768
At 30 November 2021
34,999
2,427
37,426
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
40,079
40,079
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
8,123
8,000
Trade creditors
1,494
685
Taxation and social security
45,395
34,543
Other creditors
137,630
24,432
192,642
67,660
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
19,877
28,000
ADVENTURE AWAITS DAY NURSERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 NOVEMBER 2022
- 7 -
7
Provisions for liabilities
2022
2021
£
£
Deferred tax liabilities
38,465
7,038
8
Secured debts
The following secured debts are included within creditors:
2022
2021
£
£
Bank loans
28,000
36,000
Bank loans are secured by way of a government backed-guarantee.
9
Called up share capital
2022
2021
£
£
Ordinary share capital
Issued and fully paid
60 Ordinary A of £1 each
60
60
40 Ordinary B of £1 each
40
40
100
100
10
Ultimate controlling party
The ultimate controlling party is Mrs R E Eaves.
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