| Jack and Jill Preschool Limited |
| Notes to the Accounts |
| for the year ended 31 August 2022 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Government grants |
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Grant income represents amounts claimed under the Government Coronavirus Job Retention Scheme (Furlough). Government grant income is accounted for using the accrual model. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Freehold buildings |
over 50 years |
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Leasehold land and buildings |
over the lease term |
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Plant and machinery |
5-10 years |
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Fixtures, fittings, tools and equipment |
3-10 years |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Financial instruments |
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Financial instrumnets are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets in the company after deducting all of its liabilities. |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Consolidation |
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The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 (2A) of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Employees |
2022 |
|
2021 |
| Number |
Number |
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Average number of persons employed by the company |
28 |
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28 |
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| 3 |
Intangible fixed assets |
£ |
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Goodwill: |
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Cost |
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At 1 September 2021 |
15,701 |
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At 31 August 2022 |
15,701 |
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Amortisation |
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At 1 September 2021 |
15,701 |
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At 31 August 2022 |
15,701 |
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Net book value |
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At 31 August 2022 |
- |
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Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years. |
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| 4 |
Tangible fixed assets |
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Land and buildings |
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Play & ICT equipment |
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Motor vehicles |
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Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 September 2021 |
754,896 |
|
39,975 |
|
3,209 |
|
798,080 |
|
Additions |
- |
|
1,909 |
|
- |
|
1,909 |
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Disposals |
(116,381) |
|
(23,886) |
|
- |
|
(140,267) |
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At 31 August 2022 |
638,515 |
|
17,998 |
|
3,209 |
|
659,722 |
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Depreciation |
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At 1 September 2021 |
119,896 |
|
31,291 |
|
477 |
|
151,664 |
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Charge for the year |
- |
|
2,275 |
|
646 |
|
2,921 |
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On disposals |
(116,381) |
|
(23,886) |
|
- |
|
(140,267) |
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At 31 August 2022 |
3,515 |
|
9,680 |
|
1,123 |
|
14,318 |
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Net book value |
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At 31 August 2022 |
635,000 |
|
8,318 |
|
2,086 |
|
645,404 |
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At 31 August 2021 |
635,000 |
|
8,684 |
|
2,732 |
|
646,416 |
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| 5 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 September 2021 |
333,119 |
|
Disposals |
(333,119) |
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At 31 August 2022 |
- |
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Historical cost |
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At 1 September 2021 |
333,119 |
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The following were subsidiary undertakings of the company: |
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Shares |
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Capital and |
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Profit/(loss) |
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Company |
held |
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Reserves |
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for the year |
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Class |
|
% |
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£ |
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£ |
|
Westbury Medical Limited |
8 Ordinary |
|
100% |
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4 |
|
0 |
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Westbury Medical Limited was a wholly owned subsidiary. A dividend of £330,998 was paid by Westbury Medical Limited in the year. This dividend was credited against the cost of the investment, to leave a balance of £2,121. After this dividend was paid, the capital and reserves of Westbury Medical Limited reduced to £4. On 30th August 2022, Westbury Medical Limited was struck off and dissolved on 6th September 2022. The cost of the investment has been reduced to £0 at 31 August 2022. |
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Under the provisions of Section 399 (2A) of the Companies Act 2006, the company is exempt from preparing consolidated accounts and have not done so, therefore the accounts show information about the company as an individual entity. |
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| 6 |
Debtors |
2022 |
|
2021 |
| £ |
£ |
|
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Trade debtors |
5,970 |
|
1,677 |
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Other debtors |
18,167 |
|
17,904 |
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|
24,137 |
|
19,581 |
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| 7 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
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Bank loans and overdrafts |
13,660 |
|
13,148 |
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Trade creditors |
3,284 |
|
5,387 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
- |
|
331,002 |
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Taxation and social security costs |
36,731 |
|
33,799 |
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Other creditors |
55,160 |
|
61,364 |
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|
108,835 |
|
444,700 |
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| 8 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
| £ |
£ |
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Bank loans |
423,145 |
|
433,672 |
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| 9 |
Loans |
2022 |
|
2021 |
| £ |
£ |
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Creditors include: |
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Secured bank loans |
436,805 |
|
446,820 |
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Bank loans are secured by way of a fixed and floating charge over the company assets. |
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| 10 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Mr A Hollingdale |
|
Loans to directors |
(6,081) |
|
- |
|
- |
|
(6,081) |
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Mrs C Hollingdale |
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Loan to directors |
(6,080) |
|
- |
|
- |
|
(6,080) |
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|
(12,161) |
|
- |
|
- |
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(12,161) |
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| 11 |
Related party transactions |
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The directors' owed monies to the company as detailed in note 10 to the accounts. These loans are interest free and repayable on demand. |
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Westbury Medical Limited was a wholly owned subsidiary. At 31 August 2022, £0 was owed to Westbury Medical Limited (2021 - £331,002). A dividend of £330,998 was paid by Westbury Medical Limited in the year and this has been credited against the cost of the investment. After this dividend was paid, the capital and reserves of Westbury Medical Limited reduced to £4. On 30th August 2022, Westbury Medical Limited was struck off and dissolved on 6th September 2022. |
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| 12 |
Other information |
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Jack and Jill Preschool Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Kitale |
|
Wills Lane |
|
Saville Road |
|
Bristol |
|
BS9 1FH |
