What a Hoot Day Nursery Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08729870 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

WHAT A HOOT DAY NURSERY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

H M Hurst

W Buchan

N Barnes

REGISTERED OFFICE:

Albion Activity Centre

Albion Way

Blyth

NE24 5BL

REGISTERED NUMBER:

08729870 (England and Wales)

ACCOUNTANTS:

Ribchesters

Chartered Accountants

Finchale House

Belmont Business Park

Durham

DH1 1TW

FIXED ASSETS

Tangible assets

4

1,003,434

884,292

CURRENT ASSETS

Debtors

5

33,222

29,657

Cash at bank

9,192

-

42,414

29,657

CREDITORS

Amounts falling due within one year

6

762,725

325,508

NET CURRENT LIABILITIES

(720,311

)

(295,851

)

TOTAL ASSETS LESS CURRENT LIABILITIES

283,123

588,441

CREDITORS

Amounts falling due after more than one year

7

(226,699

)

(669,127

)

PROVISIONS FOR LIABILITIES

(5,858

)

(5,565

)

NET ASSETS/(LIABILITIES)

50,566

(86,251

)

CAPITAL AND RESERVES

Called up share capital

9

1,250

1,250

Retained earnings

49,316

(87,501

)

SHAREHOLDERS' FUNDS

50,566

(86,251

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by:

H M Hurst - Director

1.	STATUTORY INFORMATION

What a Hoot Day Nursery Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated

depreciation and impairment losses.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation

less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other

comprehensive income and accumulated in capital and reserves, except to the extent it reverses a

revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the

carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to

the extent of any previously recognised revaluation increase accumulated in capital and reserves in

respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains

accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or

loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,

over the useful economic life of that asset as follows:

Freehold property - Not depreciated

Nursery equipment - 20% reducing balance

Fittings fixtures and equipment - 20% reducing balance

The freehold property is not depreciated contrary to the requirements of FRS102, section 1A and the

Companies Act 2006, because in the opinion of the directors, the lives are so long that any charge

would be immaterial. An impairment review is undertaken at each balance sheet date in order to

establish that the carrying amount is not less than the recoverable amount.

If there is an indication that there has been a significant change in depreciation rate, useful life or

residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount

being estimated where such indicators exist. Where the carrying value exceeds the recoverable

amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at

each reporting date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2022 - 35 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 November 2022

855,000

81,442

936,442

Revaluations

125,000

-

125,000

At 31 October 2023

980,000

81,442

1,061,442

DEPRECIATION

At 1 November 2022

-

52,150

52,150

Charge for year

-

5,858

5,858

At 31 October 2023

-

58,008

58,008

NET BOOK VALUE

At 31 October 2023

980,000

23,434

1,003,434

At 31 October 2022

855,000

29,292

884,292

Cost or valuation at 31 October 2023 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2023

980,000

-

980,000

Cost

-

81,442

81,442

980,000

81,442

1,061,442

If freehold property had not been revalued they would have been included at the following historical cost:

2023

2022

£

£

Cost

1,110,977

1,110,977

The freehold property was valued on an open market basis basis on 15 March 2023 by Rickard Chartered Surveyors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

26,413

23,426

Other debtors

6,809

6,231

33,222

29,657

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

4,100

78,111

Trade creditors

18,022

8,901

Taxation and social security

11,887

10,167

Other creditors

728,716

228,329

762,725

325,508

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

226,699

669,127

8.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

230,799

793,976

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

1,250

Ordinary

£1

1,250

1,250

10.	RELATED PARTY DISCLOSURES

During the year the directors maintained an interest free loan to the company. At 31 October 2023 the balance of the loan was £185,000 (2022: £69,150).

The company has transactions with other companies where one or more directors are directors and/or

shareholders in those companies. The total balances due to these other companies at the balance sheet date was £375,000 (2022: £54,296). No interest is due on these balances.