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Company registration number: 04001165
Charity number: 1088332






TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2023


YORKIES DAYCARE
(A company limited by guarantee)






































img54c8.png                        

 
YORKIES DAYCARE
 
(A company limited by guarantee)
 

CONTENTS



Page
Reference and administrative details of the Company, its Trustees and advisers
1
Trustees' report
2 - 4
Trustees' responsibilities statement
5
Independent examiner's report
6
Statement of financial activities
7
Balance sheet
8 - 9
Notes to the financial statements
10 - 15

 
YORKIES DAYCARE
 
(A company limited by guarantee)
 

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 AUGUST 2023


Trustees
D Szanto
L Mitchell
D Frainer

Company registered number
04001165

Charity registered number
1088332

Registered office
York Road Nursery
York Road
Hitchin
SG5 1XA

Company secretary
L A Mitchell

Chief executive officer
D Frainer

Accountants
Menzies LLP
Chartered Accountants
Richmond House
Walkern Road
Stevenage
SG1 3QP

Page 1

 
YORKIES DAYCARE
 
(A company limited by guarantee)
 
  
TRUSTEES' REPORT
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 annual report together with the financial statements of the Company for the year 1 September 2022 to 31 August 2023The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 
 

Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
 

Objectives and activities
 

a. Policies and objectives
 

In this financial year we have provided free wraparound care for a total of four children, and we continue to offer places and sessions free of charge when the need arises or in emergencies such as parents or carers requiring childcare arrangements to attend hospital appointments. We also offer respite where close or immediate family members are chronically or gravely ill. We also offer childcare where a parent or carer needs to attend funerals. Many of our parents have no family in the area, we have also provided extra sessions for parents when a new baby has arrived. All of the four children were offered free places due to financial difficulties in either paying for childcare or not being able to access childcare. One child was the subject of a Social work Care order and help was provided to enable much needed session to improve their overall attendance before moving on to school.
We funded a family with extra childcare when the mother recovered from serious illness. All families identified as requiring extra help over holidays and Christmas were referred to North Herts District council for various grants available for families facing hardship. We continue to reinforce our links with the school and currently have two members of staff on the 'Protecting Vulnerable Groups' committee in order that referrals required to support vulnerable families come through in a more timely manner and so that we are on hand to be able to offer space when and where it is needed. The Nursery Pre School which takes funded families is working with us to benchmark help where it may be required when the child moves to Nursery.
We continue to encourage Parents of both Yorkies and the school to speak to us if they have changing or challenging circumstances, for example parental illness, and the effects of redundancy on our families. We expect our charity spaces to be more in demand in the future due to the rising cost of living and feel well placed to help our families in the coming year. Present circumstances surrounding the pandemic have increased the need for charitable spaces and when we have been allowed to open we have managed to prioritise the families that need us the most.
 

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
We have referred to the guidance on public benefit when reviewing our aims and objectives and in planning our future activities in particular, the Trustees consider how planned activities will contribute to the aims and objectives that they have set.
This public benefit statement forms the basis for all judgements regarding operational reports to the Board meetings, in order to be reassured that the facilities and services currently managed by the charity continue to meet these criteria. At these meeting, the Financial Controller also presents the quarterly financial position including taking account of any restricted funds and the Charity's status as a going concern.
 

Page 2

 
YORKIES DAYCARE
 
(A company limited by guarantee)
 
Achievements and performance
 

a. Main achievements of the Company
 

Yorkies are providing remuneration towards repairs and renewals at York Road Nursery School as the school has suffered from Education Budget cuts and the fabric of the building was old and in need of repair. That continues this year with money benchmarked for the full decoration of the nursery which has now taken place and the continued development of the garden. We have also continued to renovate the classrooms that Yorkies use to incorporate better storage for art areas, and the renovation of a small  unused area is ongoing to create a child sized kitchen where the child will themselves be able to cook and prepare simple food under the supervision of adults. We are still making provision to support the school in replacing worn out and broken furniture in the nursery. 
We have also provided free of charge, staff to the Nursery where certain children with special needs that didn’t have recourse to funds ( delayed EHCP plans) where children required one to one assistance at Nursery and the school budget in the absence of EHCP plans could not afford to employ an extra member of staff. We did this for two children who attend the Nursery. We partially funded the creation of a school owned food bank for parents to use free of charge should they need to. We continue to stock this food bank with any unused food throughout the week.  
We aim to continue to share our equipment and expertise with the local community, both through the Nursery School and community activities through the Family Centre. These include 'stay and play' sessions.
The trustees have complied with their duty in having due regard to the guidance on public benefit, as published by the Charity Commission, in exercising their powers and duties.
 

b. Developmental achievements
 

In addition to financial achievements, developmental achievement by the children that attended Yorkies in this year showed outstanding progress for all children in the Early Years Foundation Stage.
 

Financial review
 

a. Going concern
 

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
 

b. Reserves policy
 

The Memorandum of Association has established that where the financial balances (sum of unrestricted funding and restricted salary funds) fall below a value equivalent to two months wage costs against known projected income figures a committee meeting will be convened, with H.C.C Early Childhood Unit invited to attend. The trustees will consider how funds can be replaced. Currently the financial balances are £158,698 (2022 - £139,887) which is above the value of 5 (2022 - 5) months' wages costs against known projected income figures.
 

c. Financial position
 

This year total incoming resources amounted to £293,865 (2022 - £274,722), whilst total expenditure amounted to £275,054 (2022 - £237,414). This resulted in net income for the year of £18,811 compared to a net income of £37,308 in 2022.
The trustees are grateful to all those who have contributed in any way to achievement of these results.
 
 

Structure, governance and management
 

Page 3

 
YORKIES DAYCARE
 
(A company limited by guarantee)
 
Structure, governance and management (continued)

a. 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.
 

b. Recruitment and appointment of new trustees
 

New trustees are nominated by members of the board of trustees, interviewed by a panel of trustees and appointed where they have the necessary skills to contribute to the charity's management and development.
 

 

Approved by order of the members of the board of Trustees and signed on their behalf by:



................................................
L Mitchell
Date: 19 September 2024

Page 4

 
YORKIES DAYCARE
 
(A company limited by guarantee)
 

STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 AUGUST 2023

The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).


Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.


The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


Page 5

 
YORKIES DAYCARE

(A company limited by guarantee)
 
 
 
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 AUGUST 2023

Independent examiner's report to the Trustees of Yorkies Daycare ('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 Trustees of the Company (and 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 the Company's accounts 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 statement


Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA, 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.


This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.




Signed:      Dated: 19 September 2024

 
S L Cuzner     FCCA ACA

 
Richmond House
Walkern Road
Stevenage
SG1 3QP
Page 6

 
YORKIES DAYCARE
 
(A company limited by guarantee)

 
 
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 AUGUST 2023

Unrestricted funds
2023
Total
funds
2023
Total
funds
2022
Note
        £
        £
        £

Income from:






Charitable activities

2

291,500

291,500

273,757
 
Other trading activities

3

2,365

2,365

965
 
Total income
293,865
293,865
274,722
Expenditure on:






Raising funds


197,067

197,067

182,510
 
Charitable activities

4

73,061

73,061

51,465
 
Total expenditure
270,128
270,128
233,975

Net income before net losses on investments

  

23,737

23,737

40,747
 
Net losses on investments

  

(4,926)

(4,926)

(3,439)
 
Net movement in funds
  
18,811
18,811
37,308

Reconciliation of funds:

  




Total funds brought forward

  

139,887

139,887

102,579
 
Net movement in funds

  

18,811

18,811

37,308
 
Total funds carried forward
  
158,698
158,698
139,887

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 10 to 15 form part of these financial statements.

Page 7

 
YORKIES DAYCARE
 
(A company limited by guarantee)
REGISTERED NUMBER: 04001165

 
 
BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 8 
52,948
56,449

  
52,948
56,449

Current assets
  

Debtors
 9 
82
38,847

Cash at bank and in hand
  
127,096
71,619

  
127,178
110,466

Creditors: amounts falling due within one year
 10 
(21,428)
(27,028)

Net current assets 
  
 
 
105,750
 
 
83,438

Total assets less current liabilities
  
158,698
139,887

Net assets excluding pension asset 
  
158,698
139,887

Total net assets 
  
158,698
139,887


Charity funds
  

Restricted funds
  
-
-

Unrestricted funds
  
158,698
139,887

Total funds
  
158,698
139,887

Page 8

 
YORKIES DAYCARE
 
(A company limited by guarantee)
REGISTERED NUMBER: 04001165

 
 
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

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

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:




................................................
L Mitchell
Date: 19 September 2024

The notes on pages 10 to 15 form part of these financial statements.

Page 9

 
YORKIES DAYCARE

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.Accounting policies

  
1.1

Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Yorkies Daycare meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

  
1.2

Going concern

The financial statements have been apporpriately prepared on a going concern basis.

  
1.3

Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

  
1.4

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

  
1.5

Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

  
1.6

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 10

 
YORKIES DAYCARE

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.Accounting policies (continued)

  
1.7

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.


1.8

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

  
1.9

Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

  
1.10

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.


2.

Income from charitable activities




Unrestricted funds
2023
Total
funds
2023
Total
funds
2022
        £
        £
        £




Income from charitable activities

291,500

291,500

273,757
 

Page 11

 
YORKIES DAYCARE

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

3.

Income from other trading activities

Income from fundraising events




Unrestricted funds
2023
Total
funds
2023
Total
funds
2022
        £
        £
        £




Interest received

373

373

762
 
Dividends received

1,992

1,992

203
 


2,365
2,365
965


4.

Analysis of expenditure on charitable activities


Summary by fund type




Unrestricted funds
2023
Total
2023
Total
2022
        £
        £
        £




Direct costs

73,061

73,061

51,465
 


5.



Staff costs


2023
2022
£
£


Wages and salaries
151,630
138,182

151,630
138,182

The average number of persons employed by the Company during the year was as follows:


2023
2022

No.
No.


Staff
15
16

No employee received remuneration amounting to more than £60,000 in either year.




Page 12

 
YORKIES DAYCARE

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Trustees' remuneration and expenses

During the year, one or more Trustees has been paid remuneration or has received other benefits from an employment with the Company. The value of Trustees' remuneration and other benefits was as follows:

2023
2022
£
£
D Szanto

Remuneration
298
1,355
L Mitchell

Remuneration
16,306
15,839
D Frainer

Remuneration
13,175
12,197

During the year ended 31 August 2023, no Trustee expenses have been incurred (2022 - £NIL).


7.


Tangible fixed assets




Long-term leasehold property
Fixtures and fittings
Total

£
£
£


Cost or valuation

At 1 September 2022
14,985
3,554
18,539


At 31 August 2023

14,985
3,554
18,539


Depreciation

At 1 September 2022
14,985
3,554
18,539


At 31 August 2023

14,985
3,554
18,539


Net book value


At 31 August 2023
-
-
-


At 31 August 2022
-
-
-

Page 13

 
YORKIES DAYCARE

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Fixed asset investments





Listed investments

£



Cost or valuation



At 1 September 2022
56,449


Revaluations
(3,501)



At 31 August 2023

52,948




Net book value




At 31 August 2023
52,948



At 31 August 2022
56,449


9.



Debtors


2023
2022
£
£


Due within one year

Trade debtors
(100)
34,351

Prepayments and accrued income
182
4,496

82
38,847

Page 14

 
YORKIES DAYCARE

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

10.



Creditors: Amounts falling due within one year


2023
2022
£
£


Trade creditors
2,168
-

Tax due to HMRC
1,503
1,111

Other creditors (incl directors loans)
1,558
2,484

Accruals and deferred income
16,199
23,433

21,428
27,028



11.


Related party transactions


The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Company at 31 August 2023.

Page 15