RD Childcare Limited 30/06/2023 iXBRL

RD Childcare Limited 30/06/2023 iXBRL

RD CHILDCARE LIMITED - Company Information

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23 30/06/2023 2023-06-30 false false false false false false false false false false true false false true false false false true true true false No description of principal activities is disclosed 2022-07-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 05104991 2022-07-01 2023-06-30 05104991 2023-06-30 05104991 2022-06-30 05104991 2021-07-01 2022-06-30 05104991 2022-06-30 05104991 core:NetGoodwill 2022-07-01 2023-06-30 05104991 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 05104991 core:MotorVehicles 2022-07-01 2023-06-30 05104991 bus:Director1 2022-07-01 2023-06-30 05104991 core:NetGoodwill 2023-06-30 05104991 core:LandBuildings core:OwnedOrFreeholdAssets 2022-06-30 05104991 core:FurnitureFittingsToolsEquipment 2022-06-30 05104991 core:MotorVehicles 2022-06-30 05104991 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 05104991 core:FurnitureFittingsToolsEquipment 2023-06-30 05104991 core:MotorVehicles 2023-06-30 05104991 core:WithinOneYear 2023-06-30 05104991 core:WithinOneYear 2022-06-30 05104991 core:ShareCapital 2023-06-30 05104991 core:ShareCapital 2022-06-30 05104991 core:RetainedEarningsAccumulatedLosses 2023-06-30 05104991 core:RetainedEarningsAccumulatedLosses 2022-06-30 05104991 core:NetGoodwill 2022-06-30 05104991 core:LandBuildings core:OwnedOrFreeholdAssets 2022-06-30 05104991 core:FurnitureFittingsToolsEquipment 2022-06-30 05104991 bus:SmallEntities 2022-07-01 2023-06-30 05104991 bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 05104991 bus:FullAccounts 2022-07-01 2023-06-30 05104991 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 05104991 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30
Company registration number: 05104991
RD Childcare Limited
Unaudited filleted financial statements
30 June 2023
RD Childcare Limited
Contents
Statement of financial position
Notes to the financial statements
RD Childcare Limited
Statement of financial position
30 June 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 940,795 921,645
_______ _______
940,795 921,645
Current assets
Stocks 15,765 22,800
Debtors 120,591 104,409
Cash at bank and in hand 354,922 378,470
_______ _______
491,278 505,679
Creditors: amounts falling due
within one year ( 154,538) ( 146,914)
_______ _______
Net current assets 336,740 358,765
_______ _______
Total assets less current liabilities 1,277,535 1,280,410
_______ _______
Net assets 1,277,535 1,280,410
_______ _______
Capital and reserves
Called up share capital 1,519,980 1,519,980
Profit and loss account ( 242,445) ( 239,570)
_______ _______
Shareholders funds 1,277,535 1,280,410
_______ _______
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 21 March 2024 , and are signed on behalf of the board by:
R Davis
Director
Company registration number: 05104991
RD Childcare Limited
Notes to the financial statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England & Wales.. The address of the registered office is 400 Dashwood Lang Road, Weybridge, Surrey, KT15 2HJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible 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:
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 25 % straight line
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.
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets .
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 23 (2022: 24 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 July 2022 and 30 June 2023 36,000 36,000
_______ _______
Amortisation
At 1 July 2022 and 30 June 2023 36,000 36,000
_______ _______
Carrying amount
At 30 June 2023 - -
_______ _______
At 30 June 2022 - -
_______ _______
6. Tangible assets
Freehold property Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 July 2022 900,992 589,110 36,683 1,526,785
Additions - 41,842 - 41,842
_______ _______ _______ _______
At 30 June 2023 900,992 630,952 36,683 1,568,627
_______ _______ _______ _______
Depreciation
At 1 July 2022 - 568,457 36,683 605,140
Charge for the year - 22,692 - 22,692
_______ _______ _______ _______
At 30 June 2023 - 591,149 36,683 627,832
_______ _______ _______ _______
Carrying amount
At 30 June 2023 900,992 39,803 - 940,795
_______ _______ _______ _______
At 30 June 2022 900,992 20,653 - 921,645
_______ _______ _______ _______
7. Controlling party
In the director's opinion the company is ultimately controlled by R Davis .