Farm Day Nurseries Ltd - Accounts to registrar (filleted) - small 23.2.5

FARM DAY NURSERIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST JULY 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

8

DIRECTORS:

P R Sharp

J Dickson

Mrs S R Elliott

REGISTERED OFFICE:

Thrift Farm

Buckingham Road

Whaddon

Milton Keynes

Buckinghamshire

MK17 0EQ

REGISTERED NUMBER:

12784101 (England and Wales)

ACCOUNTANTS:

HW Bedford Limited

Trading as Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

FIXED ASSETS

Intangible assets

4

19,075

4,984

Tangible assets

5

73,300

59,965

Investments

6

297,128

297,128

389,503

362,077

CURRENT ASSETS

Debtors

7

691,759

227,068

Cash at bank

59,824

13,049

751,583

240,117

CREDITORS

Amounts falling due within one year

8

467,885

60,713

NET CURRENT ASSETS

283,698

179,404

TOTAL ASSETS LESS CURRENT LIABILITIES

673,201

541,481

CREDITORS

Amounts falling due after more than one year

9

600,000

452,501

NET ASSETS

73,201

88,980

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

72,201

87,980

73,201

88,980

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th April 2024 and were signed on its behalf by:

P R Sharp - Director

1.	STATUTORY INFORMATION

Farm Day Nurseries 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

7% on cost

Fixtures and fittings

-

10% on cost

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1st August 2022

5,400

Additions

20,700

At 31st July 2023

26,100

AMORTISATION

At 1st August 2022

416

Amortisation for year

6,609

At 31st July 2023

7,025

NET BOOK VALUE

At 31st July 2023

19,075

At 31st July 2022

4,984

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1st August 2022

32,840

28,533

-

61,373

Additions

5,151

11,952

2,210

19,313

At 31st July 2023

37,991

40,485

2,210

80,686

DEPRECIATION

At 1st August 2022

682

726

-

1,408

Charge for year

2,299

3,464

215

5,978

At 31st July 2023

2,981

4,190

215

7,386

NET BOOK VALUE

At 31st July 2023

35,010

36,295

1,995

73,300

At 31st July 2022

32,158

27,807

-

59,965

6.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1st August 2022

and 31st July 2023

297,128

NET BOOK VALUE

At 31st July 2023

297,128

At 31st July 2022

297,128

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

as restated

£

£

Trade debtors

81,160

287

Amounts owed by joint ventures

572,829

217,950

Other debtors

1,400

1,000

Prepayments and accrued income

36,370

7,831

691,759

227,068

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

as restated

£

£

Other loan - Rollers (UK) Ltd

251,759

-

Trade creditors

52,231

35,241

Social security and other taxes

15,750

3,531

Other creditors

5,787

1,827

Net wages outstanding

72

-

Directors' current accounts

60,000

-

Accruals and deferred income

82,286

20,114

467,885

60,713

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

as restated

£

£

Other loan - Rollers (UK) Ltd

600,000

452,501

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2023

2022

as restated

£

£

Within one year

46,206

39,060

Between one and five years

184,824

156,240

In more than five years

400,452

377,580

631,482

572,880

11.	RELATED PARTY DISCLOSURES

At the balance sheet date there were the following interest free loans owed to the company by joint venture entities:

2023

2022

£

£

Godstone Farm Day Nursery Ltd

169

83,000

Adventure Farm Day Nursery Ltd

179,820

104,950

Mead Open Farm Day Nursery Ltd

119,895

30,000

Rand Farm Park Day Nursery Ltd

147,773

-

Thrift Activity Farm Ltd

19,867

-

Odds Farm Park Day Nursery Ltd

12,993

-

Willows Farm Park Day Nursery Ltd

4,305

-

Adventure Valley Day Nursery Ltd

88,007

-

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Farm Day Nurseries Ltd for the year ended 31st July 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Farm Day Nurseries 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 Farm Day Nurseries Ltd and state those matters that we have agreed to state to the Board of Directors of Farm Day Nurseries Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Farm Day Nurseries Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Farm Day Nurseries 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 loss of Farm Day Nurseries Ltd. You consider that Farm Day Nurseries Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Farm Day Nurseries 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.

HW Bedford Limited

Trading as Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

30th April 2024