REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
Halesfield Day Nursery Centre |
(A Company Limited by Guarantee) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
Halesfield Day Nursery Centre |
(A Company Limited by Guarantee) |
Halesfield Day Nursery Centre |
Contents of the Financial Statements |
for the year ended 31 March 2023 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 | to | 5 |
Statement of Financial Activities | 6 |
Statement of Financial Position | 7 | to | 8 |
Notes to the Financial Statements | 9 | to | 15 |
Halesfield Day Nursery Centre (Registered number: 03719984) |
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 |
The objects of the charity are "to provide care and advance the education of children". This is carried out at a site in Halesfield, Telford, where full time and wrap-around care is provided for children up to the age of 11 years all year round. |
Public benefit |
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The nursery has continued to be busy and thriving. Childrens population numbers have remained stable, but nursery is becoming increasingly busy especially as we head towards the summer term. Fees were increased substantially this final term to co-inside with the rising overheads, but this has not deterred parents, and many have increased their sessions as they return back to work. Hopefully this will help nursery to build up reserves once again. Something that is required as the future of early Years remains very turbulent and many settings are really feeling the financial struggle. |
The nursery has really managed to enhance the building and classroom environments thanks to the recruitment of a part time caretaker. Rooms have been painted and decorated and fully reflect our Hygge approach with neutral décor and a bringing the outside inside theme. Feedback from staff and parents has been great and we have noticed a difference in the environment, it is far more relaxing and conducive to learning so the children have benefited immensely. We are still working towards our Hygge accreditation but feel confident this will be completed in the next few months. |
The nursery was pleased to have completed their "Just Quality" accreditation in July 2023. This really helped prepare the setting and staff for our Ofsted inspection in the October- where the nursery was rated Good. The inspection itself was full of so many positives which highlighted that the nursery is moving forward and progressing with the changes in Early Years very well. |
The DfE have been investing in Early Years to help with Covid Recovery, they have invested in training to aid settings specifically supporting those children that have missed out and are developmentally behind. Nursery has benefitted from this with a series of Communication qualifications aimed at staff to support children's language and development. Through this the setting gained "Communication Friendly Status" and developed lots of techniques for supporting children's early language so left us with a long-lasting legacy too. |
The nursery plans to continue its cosmetic enhancements, ensuring the whole nursery will have been completely refurbished and looking Hygge. There will also be scope for the nursery to access more training and funding from the DfE, which we hope to access to further support the development of nursery and the quality of teaching. |
Halesfield Day Nursery Centre (Registered number: 03719984) |
Report of the Trustees |
for the year ended 31 March 2023 |
FINANCIAL REVIEW |
The results of the year are shown in the Statement of Financial Activities on page 6. |
The Trustees are of the opinion that the charity should have unrestricted reserves equivalent to approximately three to six months expenditure and the charity intends to build up the free reserves and maintain them at such a level. |
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. |
To oversee the operation of the charity, the board of Trustees employs a Charity Manager who is assisted by a small management team at the nursery. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
R S Harvey | resigned 28 October 2022 |
A Jones |
A E Pemberton | resigned 28 October 2022 |
S H Coulson | resigned 28 October 2022 |
C Dinwiddy |
V R Aston-Hicks | appointed 01 July 2022 |
M Kite | appointed 25 November 2022 |
Independent Examiner |
D C Blofield BSc FCA MEWI |
Caerwyn Jones |
Chartered Accountants |
Emstrey House |
Shrewsbury Business Park |
Shrewsbury |
Shropshire |
SY2 6LG |
Halesfield Day Nursery Centre (Registered number: 03719984) |
Report of the Trustees |
for the year ended 31 March 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Bankers |
Telford Shopping Centre |
Telford |
Shropshire |
TF3 4AE |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Halesfield Day Nursery Centre |
Independent examiner's report to the trustees of Halesfield Day Nursery Centre ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent Examiner's Report to the Trustees of |
Halesfield Day Nursery Centre |
Independent examiner's statement |
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
D C Blofield BSc FCA MEWI |
Caerwyn Jones |
Chartered Accountants |
Emstrey House |
Shrewsbury Business Park |
Shrewsbury |
Shropshire |
SY2 6LG |
15 November 2023 |
Halesfield Day Nursery Centre |
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 |
Other trading activities | 2 |
Investment income | 3 |
Other income |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 144,859 |
Halesfield Day Nursery Centre (Registered number: 03719984) |
Statement of Financial Position |
31 March 2023 |
2023 | 2022 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 10 |
Unrestricted funds | 144,859 |
TOTAL FUNDS | 144,859 |
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. |
Halesfield Day Nursery Centre (Registered number: 03719984) |
Statement of Financial Position - continued |
31 March 2023 |
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 |
Halesfield Day Nursery Centre |
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. |
Leasehold property | - |
Fixtures and fittings | - |
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. |
Operating lease agreements |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. |
Halesfield Day Nursery Centre |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
1. | ACCOUNTING POLICIES - continued |
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. |
Financial instruments |
The charitable company has financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
Basic financial assets, including trade other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss. |
Financial assets are derecognised when (a) a contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party. |
Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
2. | OTHER TRADING ACTIVITIES |
2023 | 2022 |
£ | £ |
Fundraising events |
Fees and education grants received | 330,522 | 346,326 |
3. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Deposit account interest |
Halesfield Day Nursery Centre |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
4. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
Other operating leases | 1,200 | 1,200 |
Surplus on disposal of fixed assets | ( |
) |
Independent examination | 1,000 | 1,000 |
5. | 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. |
6. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
Nursery employees |
Halesfield Day Nursery Centre |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
7. | TANGIBLE FIXED ASSETS |
Fixtures |
Leasehold | and |
property | fittings | Totals |
£ | £ | £ |
COST |
At 1 April 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
Prepayments |
Halesfield Day Nursery Centre |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Other creditors |
Accrued expenses |
10. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 144,859 | (13,555 | ) | 131,304 |
TOTAL FUNDS | (13,555 | ) | 131,304 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 339,374 | (352,929 | ) | (13,555 | ) |
TOTAL FUNDS | ( |
) | (13,555 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.21 | in funds | 31.3.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 121,854 | 23,005 | 144,859 |
TOTAL FUNDS | 121,854 | 23,005 | 144,859 |
Halesfield Day Nursery Centre |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
10. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 363,014 | (340,009 | ) | 23,005 |
TOTAL FUNDS | 363,014 | (340,009 | ) | 23,005 |
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 | 121,854 | 9,450 | 131,304 |
TOTAL FUNDS | 121,854 | 9,450 | 131,304 |
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 | 702,388 | (692,938 | ) | 9,450 |
TOTAL FUNDS | 702,388 | (692,938 | ) | 9,450 |
Halesfield Day Nursery Centre |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
11. | RELATED PARTY DISCLOSURES |