IRIS Accounts Production v24.1.0.578 Other Company accounts True false Pounds 1.9.22 31.8.23 31.8.23 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh073125572022-08-31073125572023-08-31073125572022-09-012023-08-31073125572021-08-31073125572021-09-012022-08-31073125572022-08-3107312557ns0:CharitableCompanyLimitedByGuarantee2022-09-012023-08-3107312557ns15:PoundSterling2022-09-012023-08-3107312557ns11:FRS1022022-09-012023-08-3107312557ns11:IndependentExaminationCharity2022-09-012023-08-3107312557ns11:SmallCompaniesRegimeForAccounts2022-09-012023-08-3107312557ns11:FullAccounts2022-09-012023-08-3107312557ns11:CharitiesSORP2022-09-012023-08-3107312557ns16:EnglandWales2022-09-012023-08-3107312557ns11:RegisteredOffice2022-09-012023-08-3107312557ns0:Trustee22022-09-012023-08-3107312557ns0:Trustee32022-09-012023-08-3107312557ns0:Trustee42022-09-012023-08-3107312557ns0:Trustee52022-09-012023-08-3107312557ns0:Trustee12022-09-012023-08-3107312557ns0:Activity82022-09-012023-08-3107312557ns0:Activity82021-09-012022-08-3107312557ns10:WithinOneYear2023-08-3107312557ns10:WithinOneYear2022-08-3107312557ns0:TotalUnrestrictedFunds2023-08-3107312557ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-09-012023-08-3107312557ns10:FurnitureFittingsToolsEquipment2022-09-012023-08-3107312557ns10:ComputerEquipment2022-09-012023-08-310731255722022-09-012023-08-3107312557ns10:OwnedAssets2022-09-012023-08-3107312557ns10:OwnedAssets2021-09-012022-08-3107312557ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-08-3107312557ns10:FurnitureFittings2022-08-3107312557ns10:ComputerEquipment2022-08-3107312557ns10:FurnitureFittings2022-09-012023-08-3107312557ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-08-3107312557ns10:FurnitureFittings2023-08-3107312557ns10:ComputerEquipment2023-08-3107312557ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-08-3107312557ns10:FurnitureFittings2022-08-3107312557ns10:ComputerEquipment2022-08-3107312557ns10:BetweenOneFiveYears2023-08-3107312557ns10:BetweenOneFiveYears2022-08-31
REGISTERED COMPANY NUMBER: 07312557 (England and Wales)
REGISTERED CHARITY NUMBER: 1143491














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 August 2023

for

Enchanted Wood Day Nursery Ltd

Enchanted Wood Day Nursery Ltd






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3 to 4

Statement of Financial Activities 5

Balance Sheet 6 to 7

Cash Flow Statement 8

Notes to the Cash Flow Statement 9

Notes to the Financial Statements 10 to 15

Enchanted Wood Day Nursery Ltd (Registered number: 07312557)

Report of the Trustees
for the Year Ended 31 August 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 August 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 Enchanted Wood Day Nursery Limited aims to provide a safe, healthy and nurturing environment for children aged 0-4 years in the local community by the operation of an innovative daycare nursery with a specialism of natural environments and equipment.

Significant activities
The Enchanted Wood Day Nursery offers early years educational opportunities for local children from 7,30am to 6pm all year round 51 weeks a year.

The nursery also provides training opportunities for aspiring child care professionals to undertake apprentice qualifications during employment at the nursery.

Public benefit
The Trustees have paid due consideration to the guidance from the Charity Commission and confirm they are satisfied the charity provides satisfactory benefit to the public.

FINANCIAL REVIEW
Reserves policy
The charity aims to hold cash reserves equal to three months of operating expenditure. The charity is working towards this policy.

Going concern
The Trustees have considered going concern of the charity and despite a challenging period for cashflow after the year end, the charity has managed to navigate the following 12 months successfully.

Good cashflow management and a spending review has meant the Trustees consider the charity continues to be 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
New trustees are sought from recommended professionals with relevant skills in finance and childcare whilst ensuring no personal links to existing staff or beneficiaries.

Organisational structure
The trustees delegate the day to day running of the nursery to qualified childcare professionals.

Nursery Manager - Miss E Parsons

Deputy Manager - Ms J Jones

Deputy Manager - Ms K Bachelor

Outsourced professionals are used in specialist areas of Bookkeeping and Human Resources.

Induction and training of new trustees
New trustees obtain induction and training from prepared manuals with provide guidance and education in respect of trustees responsibilities. A copy of the financial control system manual is also provided as part of the induction.

Enchanted Wood Day Nursery Ltd (Registered number: 07312557)

Report of the Trustees
for the Year Ended 31 August 2023


STRUCTURE, GOVERNANCE AND MANAGEMENT
Related parties
A register of related parties is maintained by the trustees and adequate safeguards taken during meetings and decision making situations to avoid conflict of interest.

Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.


As a part of wider risk management all financial and operational controls have been fully reviewed after the year end to consider improvements needed.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07312557 (England and Wales)

Registered Charity number
1143491

Registered office
The Enchanted Wood Day Nursery
Daws Heath Road
Benfleet
Essex
SS7 2TD

Trustees
A Cross (appointed 14.11.2023)
E Parsons (appointed 14.11.2023)
H Johnson (appointed 14.11.2023)
C Riley (appointed 14.11.2023)
D McKeown (appointed 15.2.2024)

Independent Examiner
Butlers Chartered Accountants
1434 London Road
Leigh on Sea
Essex
SS9 2UL

Approved by order of the board of trustees on 13 August 2024 and signed on its behalf by:





D McKeown - Trustee

Independent Examiner's Report to the Trustees of
Enchanted Wood Day Nursery Ltd

Independent examiner's report to the trustees of Enchanted Wood Day Nursery Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 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
Enchanted Wood Day Nursery Ltd


Independent examiner's statement - matters of concern identified
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 have identified the following matters of concern in my report:

During the year under investigation the Trustees have bought to my attention a suspected fraud estimated to be in the region of £118,183 in the current and £74,699 in the preceding year. The matter has been reported to police and an investigation is ongoing.

Sufficient controls were not in place during the year to ensure accounting records were complete and therefore, complete records were not available to check all transactions.

The matter has been reported to Charity Commissioners in advance of this report by the Trustees of Enchanted Wood Day Nursery Limited. The Trustees have taken decisive action to appoint a new Chairman to oversee the charity and are undertaking work with new advisors to develop new financial controls to protect from risk in future.

I confirm that no other matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:

1. except for the matter of concern noted above 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; and
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 confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.








Hayley Meagher FCA
The Institute of Chartered Accountants in England and Wales

Butlers Chartered Accountants
1434 London Road
Leigh on Sea
Essex
SS9 2UL

31 July 2024

Enchanted Wood Day Nursery Ltd

Statement of Financial Activities
for the Year Ended 31 August 2023

31.8.23 31.8.22
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Charitable activities 3
Nursery and preschool 585,094 551,758

Other trading activities 2 139 -
Total 585,233 551,758

EXPENDITURE ON
Charitable activities 4
Nursery and preschool 517,811 521,168

Other 118,183 74,699
Total 635,994 595,867

NET INCOME/(EXPENDITURE) (50,761 ) (44,109 )


RECONCILIATION OF FUNDS
Total funds brought forward 23,711 67,820

TOTAL FUNDS CARRIED FORWARD (27,050 ) 23,711

Enchanted Wood Day Nursery Ltd (Registered number: 07312557)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Tangible assets 11 7,053 231

CURRENT ASSETS
Debtors 12 27,846 16,185
Cash at bank 1,050 20,831
28,896 37,016

CREDITORS
Amounts falling due within one year 13 (62,999 ) (13,536 )

NET CURRENT ASSETS/(LIABILITIES) (34,103 ) 23,480

TOTAL ASSETS LESS CURRENT
LIABILITIES

(27,050

)

23,711

NET ASSETS (27,050 ) 23,711
FUNDS 15
Unrestricted funds (27,050 ) 23,711
TOTAL FUNDS (27,050 ) 23,711

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


The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.


Enchanted Wood Day Nursery Ltd (Registered number: 07312557)

Balance Sheet - continued
31 August 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 13 August 2024 and were signed on its behalf by:





D McKeown - Trustee

Enchanted Wood Day Nursery Ltd

Cash Flow Statement
for the Year Ended 31 August 2023

31.8.23 31.8.22
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 (10,917 ) (34,087 )
Interest paid (48 ) -
Net cash used in operating activities (10,965 ) (34,087 )

Cash flows from investing activities
Purchase of tangible fixed assets (8,816 ) -
Net cash (used in)/provided by investing activities (8,816 ) -

Change in cash and cash equivalents in
the reporting period

(19,781

)

(34,087

)
Cash and cash equivalents at the
beginning of the reporting period

20,831

54,918
Cash and cash equivalents at the end of
the reporting period

1,050

20,831

Enchanted Wood Day Nursery Ltd

Notes to the Cash Flow Statement
for the Year Ended 31 August 2023

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING
ACTIVITIES
31.8.23 31.8.22
£    £   
Net expenditure for the reporting period (as per the Statement of
Financial Activities)

(50,761

)

(44,109

)
Adjustments for:
Depreciation charges 1,995 615
Interest paid 48 -
Rounding (1 ) -
(Increase)/decrease in debtors (11,661 ) 2,473
Increase in creditors 49,463 6,934
Net cash used in operations (10,917 ) (34,087 )


2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.22 Cash flow At 31.8.23
£    £    £   
Net cash
Cash at bank 20,831 (19,781 ) 1,050
20,831 (19,781 ) 1,050
Total 20,831 (19,781 ) 1,050

Enchanted Wood Day Nursery Ltd

Notes to the Financial Statements
for the Year Ended 31 August 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.

The financial statements have been prepared on a going concern basis. This assumes that the charity will continue in existence for the foreseeable future.

The validity of this assumption depends on the continued financial support of the suppliers of the charity by way of extended credit terms over the 12 months after the balance sheet date.

If the company were unable to continue in operational existence, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, and to provide for any further liabilities that might arise and to reclassify fixed assets as current assets. Long term liabilities would also have to be reclassified as current liabilities.

The Trustees believe that it is appropriate for the financial statements to be prepared on the going concern basis

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.


Improvements to property - 20% on cost
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on cost

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.

Enchanted Wood Day Nursery Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 August 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.

2. OTHER TRADING ACTIVITIES
31.8.23 31.8.22
£    £   
Fundraising events 139 -

3. INCOME FROM CHARITABLE ACTIVITIES
31.8.23 31.8.22
Activity £    £   
Nursery fees Nursery and preschool 451,192 408,629
Nursery fees - Government Nursery and preschool 131,652 141,679
Registration fees Nursery and preschool 2,250 1,450
585,094 551,758

4. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 5) Totals
£    £    £   
Nursery and preschool 512,858 4,953 517,811

5. SUPPORT COSTS
Governance
Finance costs Totals
£    £    £   
Nursery and preschool 1,416 3,537 4,953

6. NET INCOME/(EXPENDITURE)

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

31.8.23 31.8.22
£    £   
Auditors' remuneration for non audit work 537 3,742
Other assurance services 3,000 -
Depreciation - owned assets 1,994 615
Other operating leases 31,306 32,445


Enchanted Wood Day Nursery Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

7. TRUSTEES' REMUNERATION AND BENEFITS

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


During the year Trustee, Ms E Parsons, received remuneration of £37,186 ( 2022: unknown) in the year.

Trustees' expenses

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


8. STAFF COSTS
31.8.23 31.8.22
£    £   
Wages and salaries 324,509 334,992
Social security costs 17,555 -
Other pension costs 6,928 -
348,992 334,992

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

31.8.23 31.8.22
Nursery professionals 20 20

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

9. EXCEPTIONAL ITEMS

Exceptional items include expenses from the charity of which are unexplained at the date of these accounts being signed. Police investigation into these expenses is ongoing.

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Charitable activities
Nursery and preschool 551,758

EXPENDITURE ON
Charitable activities
Nursery and preschool 521,168

Other 74,699
Total 595,867

NET INCOME/(EXPENDITURE) (44,109 )


Enchanted Wood Day Nursery Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
fund
£   

RECONCILIATION OF FUNDS
Total funds brought forward 67,820

TOTAL FUNDS CARRIED FORWARD 23,711

11. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 September 2022 - 35,000 3,073 38,073
Additions 8,069 747 - 8,816
At 31 August 2023 8,069 35,747 3,073 46,889
DEPRECIATION
At 1 September 2022 - 35,000 2,842 37,842
Charge for year 1,614 149 231 1,994
At 31 August 2023 1,614 35,149 3,073 39,836
NET BOOK VALUE
At 31 August 2023 6,455 598 - 7,053
At 31 August 2022 - - 231 231

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 27,521 11,165
Other debtors - 4,000
Prepayments and accrued income 325 1,020
27,846 16,185


Enchanted Wood Day Nursery Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 13,548 -
Social security and other taxes 5,696 4,404
Other creditors 38,229 5,390
Accruals and deferred income 5,526 3,742
62,999 13,536

14. LEASING AGREEMENTS

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

31.8.23 31.8.22
£    £   
Between one and five years 33,400 33,400

The lease above is in relation to the property under lease to the charity until 1st September 2026.

15. MOVEMENT IN FUNDS
Net
movement At
At 1.9.22 in funds 31.8.23
£    £    £   
Unrestricted funds
General fund 23,711 (50,761 ) (27,050 )

TOTAL FUNDS 23,711 (50,761 ) (27,050 )

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 585,233 (635,994 ) (50,761 )

TOTAL FUNDS 585,233 (635,994 ) (50,761 )


Comparatives for movement in funds

Net
movement At
At 1.9.21 in funds 31.8.22
£    £    £   
Unrestricted funds
General fund 67,820 (44,109 ) 23,711

TOTAL FUNDS 67,820 (44,109 ) 23,711

Enchanted Wood Day Nursery Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

15. 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 551,758 (595,867 ) (44,109 )

TOTAL FUNDS 551,758 (595,867 ) (44,109 )

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

Net
movement At
At 1.9.21 in funds 31.8.23
£    £    £   
Unrestricted funds
General fund 67,820 (94,870 ) (27,050 )

TOTAL FUNDS 67,820 (94,870 ) (27,050 )

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 1,136,991 (1,231,861 ) (94,870 )

TOTAL FUNDS 1,136,991 (1,231,861 ) (94,870 )

16. RELATED PARTY DISCLOSURES

The charity's premises are located on the grounds of The Deanes School which is part of the South East Essex Academy Trust.

Mr D. McKeown, Trustee (at time of signing these accounts) of The Enchanted Wood Day Nursery Ltd is the Headmaster of The Deanes School.

Rent paid to The Deanes School during the year totalled £31,306 ( £32,445).