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REGISTERED COMPANY NUMBER: 04256196 (England and Wales)
REGISTERED CHARITY NUMBER: 1093661














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

HADLEY UNDER AND OVER 5'S
LIMITED

HADLEY UNDER AND OVER 5'S
LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2024




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 12

HADLEY UNDER AND OVER 5'S
LIMITED (REGISTERED NUMBER: 04256196)

REPORT OF THE TRUSTEES
for the Year Ended 31st March 2024


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 31st March 2024. 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 Charitable objects are:

- to advance the education of children through the provision of nursery and pre-school care, and, after school provision which stimulates their growth and development through the safe and stimulating play,

- in the interest of social welfare, to promote and provide recreational facilities and leisure time activities for children so their conditions of life may be improved.

Public benefit
The main activity is undertaken to further our charitable objective for the public benefit.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity continues to provide a nursery to meet its charitable objectives.

FINANCIAL REVIEW
Financial position
The Trustees recognise that it is a challenging financial environment that the charity is in and that there is a continual need to have close monitoring of the financial position, especially of the level of fees received compared to wages.

The current situation remains satisfactory.

Reserves policy
The trustees have established a policy where the general fund "free reserves" should hold at least the equivalent of the cost of three months (and ideally six months) overheads to enable the charity to continue if there was a short term significant drop in income or donations.

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.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04256196 (England and Wales)

Registered Charity number
1093661

Registered office
The Old School Buildings
Hadley Park Road
Telford
Shropshire
TF1 6PW


HADLEY UNDER AND OVER 5'S
LIMITED (REGISTERED NUMBER: 04256196)

REPORT OF THE TRUSTEES
for the Year Ended 31st March 2024

Trustees
Mrs S J Phillips Independent consultant
Mrs J A Olliver Employed
Mrs M Buttery Trustee

Independent Examiner
D E Ball & Co Limited
Chartered Accountants
15 Bridge Road
Wellington
Telford
Shropshire
TF1 1EB

Approved by order of the board of trustees on 24th October 2024 and signed on its behalf by:





Mrs S J Phillips - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
HADLEY UNDER AND OVER 5'S
LIMITED

Independent examiner's report to the trustees of Hadley Under and Over 5's Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2024.

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 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.








Russell Ball

D E Ball & Co Limited
Chartered Accountants
15 Bridge Road
Wellington
Telford
Shropshire
TF1 1EB

24th October 2024

HADLEY UNDER AND OVER 5'S
LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31st March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies - - - 206

Charitable activities
Nursery 285,107 - 285,107 254,116

Other trading activities 2 - - - 4,185
Investment income 3 608 - 608 70
Total 285,715 - 285,715 258,577

EXPENDITURE ON
Raising funds - - - 10,561

Charitable activities
Nursery 250,414 - 250,414 259,206
Total 250,414 - 250,414 269,767

NET INCOME/(EXPENDITURE) 35,301 - 35,301 (11,190 )


RECONCILIATION OF FUNDS
Total funds brought forward 125,054 55,363 180,417 191,607

TOTAL FUNDS CARRIED FORWARD 160,355 55,363 215,718 180,417

HADLEY UNDER AND OVER 5'S
LIMITED (REGISTERED NUMBER: 04256196)

BALANCE SHEET
31st March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 61,578 55,363 116,941 124,319

CURRENT ASSETS
Debtors 9 2,104 - 2,104 2,280
Cash at bank and in hand 100,264 - 100,264 57,624
102,368 - 102,368 59,904

CREDITORS
Amounts falling due within one year 10 (3,591 ) - (3,591 ) (3,806 )

NET CURRENT ASSETS 98,777 - 98,777 56,098

TOTAL ASSETS LESS CURRENT LIABILITIES 160,355 55,363 215,718 180,417

NET ASSETS 160,355 55,363 215,718 180,417
FUNDS 11
Unrestricted funds 160,355 125,054
Restricted funds 55,363 55,363
TOTAL FUNDS 215,718 180,417

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.


HADLEY UNDER AND OVER 5'S
LIMITED (REGISTERED NUMBER: 04256196)

BALANCE SHEET - continued
31st March 2024

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 24th October 2024 and were signed on its behalf by:





J A Olliver - Trustee





S J Phillips - Trustee

HADLEY UNDER AND OVER 5'S
LIMITED

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2024

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.


Improvements to Freehold Property - at varying rates on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 20% on reducing balance

Freehold property is not depreciated. The Trustees are of the view that the level of ongoing repair and maintenance of the property will result in the residual value of the property at the end of its useful life being greater than its original cost. This is reviewed annually by the Trustees.

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.

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.


HADLEY UNDER AND OVER 5'S
LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024

2. OTHER TRADING ACTIVITIES
31.3.24 31.3.23
£    £   
Shop takings - 4,185

3. INVESTMENT INCOME
31.3.24 31.3.23
£    £   
Deposit account interest 608 70

4. NET INCOME/(EXPENDITURE)

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

31.3.24 31.3.23
£    £   
Depreciation - owned assets 7,933 9,257

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023.


6. STAFF COSTS

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

31.3.24 31.3.23
Nursery staff 13 16

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


HADLEY UNDER AND OVER 5'S
LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 206 - 206

Charitable activities
Nursery 254,116 - 254,116

Other trading activities 4,185 - 4,185
Investment income 70 - 70
Total 258,577 - 258,577

EXPENDITURE ON
Raising funds 10,561 - 10,561

Charitable activities
Nursery 259,206 - 259,206
Total 269,767 - 269,767

NET INCOME/(EXPENDITURE) (11,190 ) - (11,190 )


RECONCILIATION OF FUNDS
Total funds brought forward 136,244 55,363 191,607

TOTAL FUNDS CARRIED FORWARD 125,054 55,363 180,417


HADLEY UNDER AND OVER 5'S
LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024

8. TANGIBLE FIXED ASSETS
Improvements
to Fixtures
Freehold Freehold and Computer
property Property fittings equipment Totals
£    £    £    £    £   
COST
At 1st April 2023 56,966 176,037 54,835 15,755 303,593
Additions - - 555 - 555
At 31st March 2024 56,966 176,037 55,390 15,755 304,148
DEPRECIATION
At 1st April 2023 - 113,565 53,191 12,518 179,274
Charge for year - 6,824 461 648 7,933
At 31st March 2024 - 120,389 53,652 13,166 187,207
NET BOOK VALUE
At 31st March 2024 56,966 55,648 1,738 2,589 116,941
At 31st March 2023 56,966 62,472 1,644 3,237 124,319

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Prepayments 2,104 2,280

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Accrued expenses 3,591 3,806

11. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 125,054 35,301 160,355

Restricted funds
Building 55,363 - 55,363

TOTAL FUNDS 180,417 35,301 215,718

HADLEY UNDER AND OVER 5'S
LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024

11. MOVEMENT IN FUNDS - continued

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 285,715 (250,414 ) 35,301

TOTAL FUNDS 285,715 (250,414 ) 35,301


Comparatives for movement in funds

Net
movement At
At 1.4.22 in funds 31.3.23
£    £    £   
Unrestricted funds
General fund 136,244 (11,190 ) 125,054

Restricted funds
Building 55,363 - 55,363

TOTAL FUNDS 191,607 (11,190 ) 180,417

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 258,577 (269,767 ) (11,190 )

TOTAL FUNDS 258,577 (269,767 ) (11,190 )

HADLEY UNDER AND OVER 5'S
LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024

11. MOVEMENT IN FUNDS - continued

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

Net
movement At
At 1.4.22 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 136,244 24,111 160,355

Restricted funds
Building 55,363 - 55,363

TOTAL FUNDS 191,607 24,111 215,718

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 544,292 (520,181 ) 24,111

TOTAL FUNDS 544,292 (520,181 ) 24,111

The Restricted Fund represents amounts donated specifically towards the purchase of the nursery building.

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st March 2024.