Hopes And Dreams Babysitters Limited - Period Ending 2020-08-31

Hopes And Dreams Babysitters Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 6

Hopes And Dreams Babysitters Limited

Company Information

Directors

A N Hassan J A Pickles

Registered office

5th Floor South 14-16 Waterloo Place London SW1Y 4AR

Bankers

HSBC Bank PLC 60 Queen Victoria Street London EC42 4TR

Auditors

Hazlewoods LLP Windsor House Bayshill Road Cheltenham GL50 3AT

Hopes And Dreams Babysitters Limited

(Registration number: 03265972)
Balance Sheet as at 31 August 2020

	Note	31 August 2020  £	Unaudited 31 October 2019  £
Current assets
Debtors	5	-	681
Cash at bank and in hand		-	11,850
		-	12,531
Creditors: Amounts falling due within one year	6	-	(175)
Net assets		-	12,356
Capital and reserves
Called up share capital		100	100
Profit and loss account		(100)	12,256
Total equity		-	12,356

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 January 2021 and signed on its behalf by:
 

.........................................

J A Pickles
Director

Hopes And Dreams Babysitters Limited

Notes to the Financial Statements for the Period from 1 November 2019 to 31 August 2020

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5th Floor South
14-16 Waterloo Place
London
SW1Y 4AR

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Name of parent of group
The parent of the smallest group in which these financial statements are consolidated is Dukes Education Holdings Limited. The parent of the largest group in which these financial statements are consolidated is Grove Education Partners Midco Limited. The financial statements of both companies are available on request from the registered office.

Disclosure of long or short period

The financial statements cover a period of 305 days. The accounting period has been shortened to bring the year end in line with that of its ultimate parent undertaking, Grove Education Partners Holdco Limited.

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 sales/value added tax, returns, rebates and discounts and after eliminating sales within the company. 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.

Hopes And Dreams Babysitters Limited

Notes to the Financial Statements for the Period from 1 November 2019 to 31 August 2020

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

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.

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 expense 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.

Hopes And Dreams Babysitters Limited

Notes to the Financial Statements for the Period from 1 November 2019 to 31 August 2020

Financial instruments (continued)

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.

3

Staff numbers

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

	1 November 2019 to 31 August 2020  No.	Unaudited Year ended 31 October 2019  No.
Average number of employees	5	1

4

Exceptional items

	1 November 2019 to 31 August 2020  £	Unaudited Year ended 31 October 2019  £
Other exceptional item	16,071	(254,282)

The exceptional expenses in the current year relate to expenses incurred as a result of the business ceasing operations. In the prior year the exceptional credit relates to the write off of an intercompany loan.

Hopes And Dreams Babysitters Limited

Notes to the Financial Statements for the Period from 1 November 2019 to 31 August 2020

5

Debtors

	31 August 2020  £	Unaudited 31 October 2019  £
Trade debtors	-	681

6

Creditors

	31 August 2020  £	Unaudited 31 October 2019  £
Due within one year
Deferred income	-	175

7

Contingent liabilities

The company is bound by an intra-group cross guarantee in respect of bank debt with other members of the group headed by its parent undertaking at the balance sheet date, Dukes Education Group Limited. The amount guaranteed is £110,000,000 (2019 - 79,990,000).

8

Parent and ultimate parent undertaking

The company's immediate parent is Little Dukes Limited, incorporated in England and Wales.

 The ultimate parent is Grove Education Partners Holdco Limited, incorporated in Guernsey. This company is considered to have no single controlling party.

 

9

Audit report

The Independent Auditor's Report was unqualified. The corresponding figures for the year ended 31 October 2019 shown in the financial statements are derived from the financial statements prepared for that period that were not audited. The name of the Senior Statutory Auditor who signed the audit report on 25 January 2021 was Simon Worsley , who signed for and on behalf of Hazlewoods LLP.