Charity registration number NI100480
Company registration number NI039031 (Northern Ireland)
DRUMAHOE CHILDCARE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
DRUMAHOE CHILDCARE LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Catriona Coyle
Lisa Dunn
Robert Dunn
Adrian Johnston
Gillian Simpson
Andrew Tate
Lorna Somers
Kerrie O'Hara
Secretary
Kerrie O'Hara
Charity number
NI100480
Company number
NI039031
Registered office
C/O Londonderry YMCA
51 Glenshane Road
Drumahoe
Londonderry
BT47 3SF
Auditor
PFS & Partners Limited
16 Main Street
Limavady
BT49 0EU
Bankers
Danske Bank
27 Glenshane Rd
Londonderry
BT47 2LN
Solicitors
Turley Legal Ltd
Enterprise Causeway
Knocklynn Road
Coleraine
BT52 1WW
DRUMAHOE CHILDCARE LIMITED
CONTENTS
Page
Trustees' report
1 - 3
Independent auditor's report
4 - 6
Statement of financial activities
7
Balance sheet
8
Statement of cash flows
9
Notes to the financial statements
10 - 19
DRUMAHOE CHILDCARE LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "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
Public benefit

This document has been prepared based on the guidance provided by the Charity Commission for Northern Ireland and Trustees have had regard to the Commission's Public Benefit requirement statutory guidance. The trustees have paid due regard to guidance issued by the Charity Commission for Northern Ireland in deciding what activities the charity should undertake.

Achievements and performance
Significant activities and achievements against objectives

The objectives and activities of the charity are to advance the education of children aged 2 to 11 years old in Drumahoe, County Derry/Londonderry and the wider Derry City and Strabane District Council area, by providing care facilities for children from 7.45am to 6pm.

 

In 2024, Drumahoe Childcare launched its strategic plan, focusing on its vision, mission, and goals for the next three years. The plan aims to enhance and strengthen all aspects of our childcare services.

 

Building a culture of positive wellbeing for both staff and children is reinforced with the appointment of a Mental Health Champion.

 

The fundraising committee held events throughout the year, including, supper with Santa, an Easter hamper, a sponsored walk and the Big Family breakfast. More events have been planned into 2024.

Financial review

Drumahoe Childcare Limited's financial year runs from 1 April to 31 March.

 

The Board of Directors is responsible for the control and management of the organisation's financial budget.

 

Drumahoe Childcare is a "not for profit “organisation that aims to become sustainable without grant assistance, using any surplus to reinvest into services and facilities.

 

Occupancy levels have steadily increased through the year.

 

Funding was received from Bright Start and Derry City and Strabane District Council.

 

We will remain cautious moving into the next financial year given the unpredictability of the economy in recent times.

 

Opportunities for investment and growth will remain an area for exploration.

Reserves policy

Our reserves policy is equivalent to 3 months' operations costs and would cover redundancies should that situation ever arise.

Plans for future periods

With the launch of the strategic plan, we have a clear vision of where we will be moving forward and are focusing on the goals outlined in this.

DRUMAHOE CHILDCARE LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Structure, governance and management

Drumahoe Childcare Limited has a Memorandum and Articles of Association and is incorporated under the Companies Act 2006.

 

We are a Company limited by guarantee, not having a share capital.

 

The organisation is controlled and directed by a Board of Trustees. The Manager is appointed to run the daily activities of the organisation and reports to the Board of Trustees at bi-monthly meetings. The quorum for a meeting is 5.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

 

Catriona Coyle
Lisa Dunn
Robert Dunn
Adrian Johnston
Gillian Simpson
Andrew Tate
Lorna Somers
Kerrie O'Hara
Recruitment and appointment of trustees

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Statement of trustees' responsibilities

The trustees, who are also the directors of Drumahoe Childcare Limited for the purpose 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 which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DRUMAHOE CHILDCARE LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Auditor

In accordance with the company's articles, a resolution proposing that PFS & Partners Limited be reappointed as auditor of the company will be put at a General Meeting.

The trustees' report was approved by the Board of Trustees.

Kerrie O'Hara
Lisa Dunn
Trustee
Trustee
16 October 2024
DRUMAHOE CHILDCARE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF DRUMAHOE CHILDCARE LIMITED
- 4 -

Opinion

We have audited the financial statements of Drumahoe Childcare Limited (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended;

-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Act (Northern Ireland) 2008 require us to report to you if, in our opinion:

-

the information given in the financial statements is inconsistent in any material respect with the trustees' report; or

-

sufficient accounting records have not been kept; or

-

the financial statements are not in agreement with the accounting records; or

-

we have not received all the information and explanations we require for our audit.

DRUMAHOE CHILDCARE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF DRUMAHOE CHILDCARE LIMITED
- 5 -
Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 65 of the Charities Act (Northern Ireland) 2008 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

 

We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of legal counsel. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

DRUMAHOE CHILDCARE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF DRUMAHOE CHILDCARE LIMITED
- 6 -

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 8 of the Charities Act (Northern Ireland) 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

James Daniel Brolly (Senior Statutory Auditor)
for and on behalf of PFS & Partners Limited
16 October 2024
Chartered Certified Accountants
Statutory Auditor
16 Main Street
Limavady
BT49 0EU

PFS & Partners Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

DRUMAHOE CHILDCARE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
-
25,655
25,655
-
23,643
23,643
Charitable activities
4
577,924
-
577,924
518,127
-
518,127
Other trading activities
5
-
2,607
2,607
-
2,359
2,359
Investments
6
968
-
968
314
-
314
Total income
578,892
28,262
607,154
518,441
26,002
544,443
Expenditure on:
Raising funds
7
-
981
981
-
613
613
Charitable activities
8
559,411
25,655
585,066
505,566
23,643
529,209
Other expenditure
656
-
656
886
-
886
Total expenditure
560,067
26,636
586,703
506,452
24,256
530,708
Net income and movement in funds
18,825
1,626
20,451
11,989
1,746
13,735
Reconciliation of funds:
Fund balances at 1 April 2023
228,988
1,746
230,734
216,999
-
216,999
Fund balances at 31 March 2024
247,813
3,372
251,185
228,988
1,746
230,734

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

DRUMAHOE CHILDCARE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
15
67,799
68,447
Current assets
Debtors
16
20,895
16,232
Cash at bank and in hand
211,538
195,977
232,433
212,209
Creditors: amounts falling due within one year
18
(37,124)
(29,473)
Net current assets
195,309
182,736
Total assets less current liabilities
263,108
251,183
Creditors: amounts falling due after more than one year
19
(11,923)
(20,449)
Net assets excluding pension liability
251,185
230,734
Net assets
251,185
230,734
The funds of the charity
Restricted income funds
21
3,372
1,746
Unrestricted funds
247,813
228,988
251,185
230,734

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024, although an audit has been carried out under section 65 of the Charities Act (Northern Ireland) 2008.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

The financial statements were approved by the trustees on 16 October 2024
Lisa Dunn
Trustee
Company registration number NI039031 (Northern Ireland)
DRUMAHOE CHILDCARE LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
25
30,620
29,017
Investing activities
Purchase of tangible fixed assets
(7,418)
(6,540)
Investment income received
968
314
Net cash used in investing activities
(6,450)
(6,226)
Financing activities
Repayment of bank loans
(8,526)
(9,131)
Net cash used in financing activities
(8,526)
(9,131)
Net increase in cash and cash equivalents
15,644
13,660
Cash and cash equivalents at beginning of year
195,894
182,234
Cash and cash equivalents at end of year
211,538
195,894
Relating to:
Cash at bank and in hand
211,538
195,977
Bank overdrafts included in creditors payable within one year
-
(83)
DRUMAHOE CHILDCARE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -
1
Accounting policies
Charity information

Drumahoe Childcare Limited is a private company limited by guarantee incorporated in Northern Ireland. The registered office is C/O Londonderry YMCA, 51 Glenshane Road, Drumahoe, Londonderry, BT47 3SF.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
DRUMAHOE CHILDCARE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 11 -
1.5
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 are allocated on the portion of the asset’s use.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
5% straight line
Fixtures, fittings & equipment
25% reducing balance
Play park
10% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

DRUMAHOE CHILDCARE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 12 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

DRUMAHOE CHILDCARE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 13 -
3
Income from donations and legacies
Restricted
Restricted
funds
funds
2024
2023
£
£

Grants receivable

25,655
23,643
Grants receivable for core activities
Bright Start
21,655
21,654
DCSDC
4,000
1,989
25,655
23,643
4
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£

Childcare income

577,924
513,974
Other income
-
4,153
577,924
518,127
5
Income from other trading activities
Restricted
Restricted
funds
funds
2024
2023
£
£
Fundraising events
2,607
2,359
6
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
968
314
DRUMAHOE CHILDCARE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 14 -
7
Expenditure on raising funds
Restricted
Restricted
funds
funds
2024
2023
£
£
Fundraising and publicity
Other fundraising costs
981
613
8
Charitable activities
2024
2023
£
£
Childcare
579,666
523,809
Share of governance costs (see note 10)
5,400
5,400
585,066
529,209
Analysis by fund
Unrestricted funds
559,411
505,566
Restricted funds
25,655
23,643
585,066
529,209
9
Description of charitable activities
Charitable activities

Childcare

We provide care facilities for up to 100  children on a daily basis, Monday to Friday. We operate a daycare facility and an out of schools.  We open daycare at 8am to 6pm every day throughout the year.  Our out of schools opens at 2pm to 6pm weekdays but during the summer and school holidays, we open at 8am. We pick up and drop off daycare children for nursery and preschool while out of school children  are collected from their schools at 2pm, 3pm and when activities are taking place, 4pm. They are brought to the club where they are given a snack and then go to their separate rooms. We operate 5 rooms:  daycare has 2 rooms with children aged from 2 to 4 years.  Out of schools has 3 rooms: P1-2, P3-4 and P5-7. There are room leaders and playworkers in each room. The planning of activities are carried out with the involvement of the children. All activities are age appropriate. We have a sports hall and  play parks so that activities for their physical well being are provided all year round.  This also improves their social well being and interpersonal skills.  Parents then collect their children from us at whatever time suits. During the summer our activities are much more extensive and would also involve trips off site.   

 

 

DRUMAHOE CHILDCARE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 15 -
10
Support costs allocated to activities
2024
2023
£
£
Governance costs
5,400
5,400
Analysed between:
Charitable activities
5,400
5,400
11
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
4,200
4,200
Depreciation of owned tangible fixed assets
8,064
7,094
12
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
13
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Childcare staff
28
27
Employment costs
2024
2023
£
£
Wages and salaries
419,272
382,292
Social security costs
21,169
19,022
Other pension costs
4,581
4,081
445,022
405,395
There were no employees whose annual remuneration was more than £60,000.
14
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

DRUMAHOE CHILDCARE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 16 -
15
Tangible fixed assets
Leasehold improvements
Fixtures, fittings & equipment
Play park
Total
£
£
£
£
Cost
At 1 April 2023
47,000
67,918
28,934
143,852
Additions
-
7,418
-
7,418
At 31 March 2024
47,000
75,336
28,934
151,270
Depreciation and impairment
At 1 April 2023
5,875
55,675
13,857
75,407
Depreciation charged in the year
2,350
4,206
1,508
8,064
At 31 March 2024
8,225
59,881
15,365
83,471
Carrying amount
At 31 March 2024
38,775
15,455
13,569
67,799
At 31 March 2023
41,125
12,245
15,077
68,447
16
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
11,816
10,818
Other debtors
9,079
5,414
20,895
16,232
17
Loans and overdrafts
2024
2023
£
£
Bank overdrafts
-
83
Bank loans
21,940
30,466
21,940
30,549
Payable within one year
10,017
10,100
Payable after one year
11,923
20,449
DRUMAHOE CHILDCARE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 17 -
18
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans and overdrafts
17
10,017
10,100
Other taxation and social security
4,726
2,786
Trade creditors
83
31
Other creditors
13,523
11,156
Accruals and deferred income
8,775
5,400
37,124
29,473
19
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans
17
11,923
20,449
20
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
4,581
4,081

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

21
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April 2023
Incoming resources
Resources expended
At 31 March 2024
£
£
£
£
Bright Start
-
21,655
(21,655)
-
DCSDC
-
4,000
(4,000)
-
Fundraising income
1,746
2,607
(981)
3,372
1,746
28,262
(26,636)
3,372
DRUMAHOE CHILDCARE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
21
Restricted funds
(Continued)
- 18 -
Previous year:
At 1 April 2022
Incoming resources
Resources expended
At 31 March 2023
£
£
£
£
Bright Start
-
21,654
(21,654)
-
DCSDC
-
1,989
(1,989)
-
Fundraising income
-
2,359
(613)
1,746
-
26,002
(24,256)
1,746
22
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2023
Incoming resources
Resources expended
At 31 March 2024
£
£
£
£
General funds
228,988
578,892
(560,067)
247,813
Previous year:
At 1 April 2022
Incoming resources
Resources expended
At 31 March 2023
£
£
£
£
General funds
216,999
518,441
(506,452)
228,988
23
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 March 2024:
Tangible assets
67,799
-
67,799
Current assets/(liabilities)
191,937
3,372
195,309
Long term liabilities
(11,923)
-
(11,923)
247,813
3,372
251,185
DRUMAHOE CHILDCARE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
23
Analysis of net assets between funds
(Continued)
- 19 -
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 March 2023:
Tangible assets
68,447
-
68,447
Current assets/(liabilities)
180,990
1,746
182,736
Long term liabilities
(20,449)
-
(20,449)
228,988
1,746
230,734
24
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

25
Cash generated from operations
2024
2023
£
£
Surplus for the year
20,451
13,735
Adjustments for:
Investment income recognised in statement of financial activities
(968)
(314)
Depreciation and impairment of tangible fixed assets
8,064
7,095
Movements in working capital:
(Increase)/decrease in debtors
(4,663)
9,021
Increase/(decrease) in creditors
7,736
(520)
Cash generated from operations
30,620
29,017
26
Analysis of changes in net funds
At 1 April 2023
Cash flows
At 31 March 2024
£
£
£
Cash at bank and in hand
195,977
15,561
211,538
Bank overdrafts
(83)
83
-
195,894
15,644
211,538
Loans falling due within one year
(10,017)
-
(10,017)
Loans falling due after more than one year
(20,449)
8,526
(11,923)
165,428
24,170
189,598
2024-03-312023-04-01falsefalseCCH SoftwareiXBRL Review & Tag 2024.2NI0390312023-04-012024-03-31NI039031bus:Director12023-04-012024-03-31NI039031bus:Director22023-04-012024-03-31NI039031bus:Director32023-04-012024-03-31NI039031bus:Director42023-04-012024-03-31NI039031bus:Director52023-04-012024-03-31NI039031bus:Director62023-04-012024-03-31NI039031bus:Director72023-04-012024-03-31NI039031bus:CompanySecretary12023-04-012024-03-31NI039031bus:CompanySecretaryDirector12023-04-012024-03-31NI0390312024-03-31NI0390312023-03-31NI0390312022-04-012023-03-31NI039031bus:FRS1022023-04-012024-03-31NI039031bus:Audited2023-04-012024-03-31NI039031bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP