Company registration number: 07299870
Framfield Pre-School
Unaudited financial statements
31 August 2022
Framfield Pre-School
| Contents | ||
|---|---|---|
| Page | ||
| Directors and other information | 1 | |
| Directors report | 2 | |
| Statement of comprehensive income | 3 | |
| Statement of financial position | 4 - 5 | |
| Statement of changes in equity | 6 | |
| Notes to the financial statements | 7 - 9 |
Framfield Pre-School
Directors and other information
Directors Mrs S Ridley Mrs C Hayler Mrs J Wilde Secretary Ms S Ridley Company number 07299870 Registered office The Street Framfield East Sussex TN22 5NR
Page 1
Framfield Pre-School
Directors report Year ended 31 August 2022
The directors present their report and the unaudited financial statements of the company for the year ended 31 August 2022.
Directors
The directors who served the company during the year were as follows:
Mrs S Ridley Mrs C Hayler Mrs J Wilde
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 5 May 2023 and signed on behalf of the board by:
Mrs S Ridley Director
Page 2
Framfield Pre-School
Statement of comprehensive income Year ended 31 August 2022
| 2022 | 2021 | 2021 | ||||
|---|---|---|---|---|---|---|
| Note | £ | £ | ||||
| Turnover | 148,962 | 126,995 | ||||
| Cost of sales | ) (1,362 |
(1,333 | ) | |||
| Gross profit | 147,600 | 125,662 | ||||
| Administrative expenses | (145,421 | ) | (118,369 | ) | ||
| Operating profit | 2,179 | 7,293 | ||||
| Other interest receivable and similar income | 29 | 7 | ||||
| Profit before taxation | 5 | 2,208 | 7,300 | |||
| Tax on profit | - | - | ||||
| Profit for the financial year and total | ||||||
| comprehensive income | 2,208 | 7,300 |
All the activities of the company are from continuing operations.
The notes on pages 7 to 9 form part of these financial statements.
Page 3
Framfield Pre-School
Statement of financial position 31 August 2022
| Note Fixed assets Tangible assets 6 Current assets Debtors 7 Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Total assets less current liabilities Net assets Capital and reserves Profit and loss account Shareholders funds |
2022 £ 2,937 355 146,345 146,700 ) (4,078 |
£ 2,937 142,622 145,559 145,559 145,559 145,559 |
2021 £ 3,463 - 141,617 141,617 ) (1,729 |
£ 3,463 139,888 |
|---|---|---|---|---|
| 143,351 | ||||
| 143,351 | ||||
| 143,351 | ||||
| 143,351 |
For the year ending 31 August 2022 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 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'.
The notes on pages 7 to 9 form part of these financial statements.
Page 4
Framfield Pre-School
Statement of financial position (continued) 31 August 2022
These financial statements were approved by the board of directors and authorised for issue on 5 May 2023, and are signed on behalf of the board by:
Mrs S Ridley Director
Company registration number: 07299870
The notes on pages 7 to 9 form part of these financial statements.
Page 5
Framfield Pre-School
Statement of changes in equity Year ended 31 August 2022
| Profit and loss account £ At 1 September 2020 136,051 Profit for the year 7,300 Total comprehensive income for the year 7,300 At 31 August 2021 and 1 September 2021 143,351 Profit for the year 2,208 Total comprehensive income for the year 2,208 At 31 August 2022 145,559 |
Total £ 136,051 7,300 |
|---|---|
| 7,300 | |
| 143,351 2,208 |
|
| 2,208 | |
| 145,559 |
Page 6
Framfield Pre-School
Notes to the financial statements Year ended 31 August 2022
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is The Street, Framfield, East Sussex, TN22 5NR.
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.
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:
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.
Page 7
Framfield Pre-School
Notes to the financial statements (continued) Year ended 31 August 2022
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2021: 11).
5. Profit before taxation
Profit before taxation is stated after charging/(crediting):
| 2022 £ Depreciation of tangible assets 526 Tangible assets Fixtures, fittings and equipment £ Cost At 1 September 2021 and 31 August 2022 24,673 Depreciation At 1 September 2021 21,210 Charge for the year 526 At 31 August 2022 21,736 Carrying amount At 31 August 2022 2,937 At 31 August 2021 3,463 |
2021 £ 614 |
|---|---|
| Total £ 24,673 |
|
| 21,210 526 |
|
| 21,736 | |
| 2,937 | |
| 3,463 |
6. Tangible assets
Page 8
Framfield Pre-School
Notes to the financial statements (continued) Year ended 31 August 2022
| 7. Debtors Other debtors 8. Creditors: amounts falling due within one year Social security and other taxes Other creditors |
2022 £ 355 2022 £ 475 3,603 4,078 |
2021 £ - |
|---|---|---|
| 2021 £ 172 1,557 |
||
| 1,729 |
Page 9
Framfield Pre-School
The following pages do not form part of the statutory accounts.
Framfield Pre-School
Detailed income statement Year ended 31 August 2022
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Turnover | |||
| Fees | 37,850 | 33,946 | |
| Grants received | 107,996 | 91,552 | |
| Donations and fundraising | 1,279 | 492 | |
| Misc income | 1,837 | 1,005 | |
| 148,962 | 126,995 | ||
| Cost of sales | |||
| Purchases | ) (1,362 |
) (1,333 |
|
| ) (1,362 |
) (1,333 |
||
| Gross profit | 147,600 | 125,662 | |
| Gross profit percentage | % 99.1 |
% 99.0 |
|
| Overheads | |||
| Administrative expenses | |||
| Wages and salaries | ) (115,568 |
(112,701 | ) |
| JRS Grant | - | 15,529 | |
| Employer pension contributions | ) (1,903 |
) (1,397 |
|
| Training | ) (480 |
(950 | ) |
| Employers NI contributions | ) (2,162 |
) (1,500 |
|
| Equipment and event expenses | ) (497 |
(596 | ) |
| Food and consumables | ) (664 |
(1,189 | ) |
| Schoolwear | ) (1,128 |
) (989 |
|
| Rent payable | ) (8,395 |
) (5,828 |
|
| Insurance | ) (1,051 |
) (1,049 |
|
| Cleaning & pest control | ) (6,579 |
) (640 |
|
| Repairs and maintenance | ) (8 |
) (335 |
|
| Printing, postage and stationery | ) (803 |
(438 | ) |
| Advertising | ) (60 |
) (30 |
|
| Recruitment | ) (78 |
- | |
| Telephone | ) (490 |
(376 | ) |
| Computer costs | ) (359 |
(695 | ) |
| Storage | ) (1,440 |
) (1,440 |
|
| Legal, professional and complaince fees | ) (1,990 |
) (1,843 |
|
| Accountancy fees | ) (740 |
(710 | ) |
| Bank charges | ) (238 |
(164 | ) |
| Subscriptions | ) (262 |
(414 | ) |
| Depreciation of tangible assets | ) (526 |
(614 | ) |
| ) (145,421 |
(118,369 | ) | |
| Operating profit | 2,179 | 7,293 |
Operating profit
Framfield Pre-School
Detailed income statement (continued) Year ended 31 August 2022
| Operating profit percentage Other interest receivable and similar income Profit before taxation |
2022 £ % 1.5 29 2,208 |
2021 £ % 5.7 7 7,300 |
|---|---|---|