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REGISTERED COMPANY NUMBER: 10881835 (England and Wales)
REGISTERED CHARITY NUMBER: 1196818














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2023

for

OXFORD GEMS NURSERY LIMITED

OXFORD GEMS NURSERY LIMITED

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023










Page

Report of the Trustees 1 to 2

Statement of Financial Activities 3

Balance Sheet 4

Notes to the Financial Statements 5 to 9

OXFORD GEMS NURSERY LIMITED (REGISTERED NUMBER: 10881835)

Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2023



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
- To provide early learning facilities to ages from 2 to 5 years of age.

- The main activities for the public benefit is to provide a safe and harmonious environment to develop and educate children of ages 2-5 prior to moving into the mainstream primary education.

- The Trustees have had regard to the guidance issued by the Charity Commission on public benefit.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
This is the 6th year of operations since the Nursery was active from 2018.

Over the period of this report the Nursery has succeeded in achieving its objectives as the Nursery numbers have increased significantly and majority of the intakes are from the surrounding areas thus decreasing the carbon footprint as parents are travelling much less in distance for Nursery facilities.

The feedback has been positive from parents and surrounding community as a once derelict property has been utilised for the benefit of the community.

FINANCIAL REVIEW
Financial position
The Charity is in a positive financial status.

Principal funding sources
The Charities principal source of fund is from Lancashire County Council Vouchers - pre-school government grant.

Reserves policy
The reserves held are for two folds:

a) Timing of operational costs post monies received from LCC.
b) being held for future improvements for the benefit of the children, ie a more user friendly outdoor play area

The reserves balance held as at 31/03/23 is £7,668.

Going concern
There are currently no uncertainties relating to the Charity continuing as a going concern.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees
On a Trustee/Director leaving the institute applications are invited and if the applicant meets the criteria appointment is approved by at least 3 of the Trustees.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
10881835 (England and Wales)

OXFORD GEMS NURSERY LIMITED (REGISTERED NUMBER: 10881835)

Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2023


Registered Charity number
1196818

Registered office
Pegasus House
5 Winckley Court
Mount Street
Preston
PR1 8BU

Trustees
F A Ali
K Asmal
I Desai
S Umar
H R Patel

Company Secretary

Approved by order of the board of trustees on 15 October 2023 and signed on its behalf by:





I Desai - Trustee

OXFORD GEMS NURSERY LIMITED

Statement of Financial Activities
FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 86,762 49,826

EXPENDITURE ON
Charitable activities
Provision 77,612 59,149

NET INCOME/(EXPENDITURE) 9,150 (9,323 )


RECONCILIATION OF FUNDS
Total funds brought forward (1,482 ) 7,841

TOTAL FUNDS CARRIED FORWARD 7,668 (1,482 )

OXFORD GEMS NURSERY LIMITED (REGISTERED NUMBER: 10881835)

Balance Sheet
31 MARCH 2023

2023 2022
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Tangible assets 6 4,068 4,786

CURRENT ASSETS
Cash at bank and in hand 21,334 9,582

CREDITORS
Amounts falling due within one year 7 (17,734 ) (15,850 )

NET CURRENT ASSETS/(LIABILITIES) 3,600 (6,268 )

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,668

(1,482

)

NET ASSETS/(LIABILITIES) 7,668 (1,482 )
FUNDS 8
Unrestricted funds 7,668 (1,482 )
TOTAL FUNDS 7,668 (1,482 )

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


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


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that 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 charitable company as at the end of each financial year and of its surplus or deficit 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 charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 15 October 2023 and were signed on its behalf by:





I Desai - Trustee

OXFORD GEMS NURSERY LIMITED

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

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



Fixtures & Fittings - 15% RB

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.


OXFORD GEMS NURSERY LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£    £   
Depreciation - owned assets 718 844
Other operating leases 7,500 12,500

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.


4. STAFF COSTS

The average monthly number of employees during the year was as follows:

2023 2022
Average number of employees 9 6

No employees received emoluments in excess of £60,000.

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 49,826

EXPENDITURE ON
Charitable activities
Provision 59,149

NET INCOME/(EXPENDITURE) (9,323 )


RECONCILIATION OF FUNDS
Total funds brought forward 7,841

TOTAL FUNDS CARRIED FORWARD (1,482 )

OXFORD GEMS NURSERY LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022 and 31 March 2023 9,168
DEPRECIATION
At 1 April 2022 4,382
Charge for year 718
At 31 March 2023 5,100
NET BOOK VALUE
At 31 March 2023 4,068
At 31 March 2022 4,786

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - (1 )
Social security and other taxes 1,072 (160 )
Other creditors 15,366 15,291
Accrued expenses 1,296 720
17,734 15,850

8. MOVEMENT IN FUNDS
Net
movement At
At 1/4/22 in funds 31/3/23
£    £    £   
Unrestricted funds
General fund (1,482 ) 9,150 7,668

TOTAL FUNDS (1,482 ) 9,150 7,668

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 86,762 (77,612 ) 9,150

TOTAL FUNDS 86,762 (77,612 ) 9,150


OXFORD GEMS NURSERY LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1/4/21 in funds 31/3/22
£    £    £   
Unrestricted funds
General fund 7,841 (9,323 ) (1,482 )

TOTAL FUNDS 7,841 (9,323 ) (1,482 )

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 49,826 (59,149 ) (9,323 )

TOTAL FUNDS 49,826 (59,149 ) (9,323 )

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1/4/21 in funds 31/3/23
£    £    £   
Unrestricted funds
General fund 7,841 (173 ) 7,668

TOTAL FUNDS 7,841 (173 ) 7,668

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 136,588 (136,761 ) (173 )

TOTAL FUNDS 136,588 (136,761 ) (173 )


OXFORD GEMS NURSERY LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.