Charity registration number 1129278
Company registration number 06593494 (England and Wales)
MEADOW BROOK PLAYCARE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
MEADOW BROOK PLAYCARE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs Sarah Fisk
Ms R Page
Ms H Podger
Mrs E Howard
Miss D Murray
Ms H Wingfield
(Appointed 27 February 2024)
Mr M Burch
(Appointed 27 February 2024)
Ms E Minter
(Appointed 27 February 2024)
Ms T Barker
(Appointed 27 February 2024)
Charity number
1129278
Company number
06593494
Registered office
Blyth House
Rendham Road
Saxmundham
IP17 1WA
Independent examiner
Carl Page FCCA
Ensors Accountants LLP
Blyth House
Rendham Road
Saxmundham
IP17 1WA
MEADOW BROOK PLAYCARE
CONTENTS
Page
Trustees' report
1 - 3
Independent examiner's report
4
Statement of financial activities
5
Balance sheet
6
Notes to the financial statements
7 - 13
MEADOW BROOK PLAYCARE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MAY 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 May 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 governing document, 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

The charity's objectives and principal activities as set out in the Memorandum and Articles of Association continue to be that of offering appropriate play, education, care facilities and training courses, together with the right of parents to take responsibility for and to become involved in the activities of such groups, ensuring that such groups offer opportunities for all children whatever their race, culture, religion, means or ability. The policies adopted in furtherance of these objectives remain in place and there has been no change in these during the year.

To continue to further the charity's objectives and principal activities and ensure that it is available to the wider community:

 

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

MEADOW BROOK PLAYCARE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
Achievements and performance

These accounts reflect eight years of offering full day care places from birth to five years, for fifty weeks per year. We continue to believe that this is a substantial offering for the local community, providing high quality care in a safe and secure environment. Our staff remain highly trained and experienced.

 

We continue to support staff to further their qualifications. This has included individual staff taking training on short courses of interest than can and have benefited other staff members across the setting when learning is fed back to the team and implemented as appropriate. We have supported the learning and development of three staff members enrolling on courses to achieve their Level 5 qualifications.

 

We continue to evolve our curriculum and implementation to best support and nurture the children in our care. We continue to strive for a curriculum at Meadow Brook that enables all children in our care to thrive.

 

As the Early Years sector continues to experience issues with retaining existing staff and employing new staff members as necessary, we have faced some struggles with staffing ourselves. However, we have been able to continue to operate and have used the benefit of welcoming college students to learn with us as a way of supporting the team. As a method of retaining staff and enabling staff to feel supported at work, Meadow Brook has implemented a 'Staff Well Being' amount of money for senior management to spread as necessary throughout the year. We hope that this helps staff to feel valued and thanked for their work.

 

Meadow Brook made the decision this year to reduce the age of the Holiday Club children attending. This has enabled us to ensure that we can have the capacity to move our nursery aged children up within the setting. Meadow Brook has a healthy 110 children on role.

Financial review

The accounts show a net surplus for the year of £72,175 (2023: a net deficit of £(10,104)).

 

As at 31 May 2024, the charity had closing unrestricted funds available of £325,430 (2023: £253,255).

 

Meadow Brook Playcare continues to be the only early years setting within Saxmundham which operates full day care places from birth to five years, however there are other early year providers within the local area with which we compete. As such it is important that we retain sufficient funds to secure our operations and to ensure we can cope if demand fluctuates.

 

We continue to provide a company pension scheme which has increased our costs and we are impacted by the National Living Wage increases.

The trustees have given due consideration to the finances of the charity and the reserves policy as outlined below and are of the opinion that the charity is a going concern.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

Meadow Brook Playcare is a company limited by guarantee in the United Kingdom, registration number 06593494, incorporated on 14 May 2008 and is therefore governed by a Memorandum and Articles of Association. The directors of the company are also trustees of the charity, charity number 1129278. Eligibility for membership of the charity, and membership of the board of trustees is governed by the Memorandum and Articles of Association. There are no restrictions in the governing document on the operation of the charity or on its investment powers, other than those imposed by general charity law.

MEADOW BROOK PLAYCARE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 3 -

The trustees, who are also the directors for the purpose of company law, and who served during the year were:

 

Mrs Sarah Fisk
Mr J Turner-Leeper
(Resigned 28 February 2024)
Ms R Page
Ms H Podger
Mr D Kemp
(Resigned 2 November 2023)
Mrs E Howard
Miss D Murray
Ms H Wingfield
(Appointed 27 February 2024)
Mr M Burch
(Appointed 27 February 2024)
Ms E Minter
(Appointed 27 February 2024)
Ms T Barker
(Appointed 27 February 2024)

When new or additional trustees are required, the beneficiaries and client organisations are invited to submit nominations, and subject to their compliance with the Memorandum and Articles of Association, they are considered by the governing body of trustees for election.

 

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.

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

Ms R Page
Ms T Barker
24 February 2025
MEADOW BROOK PLAYCARE
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF MEADOW BROOK PLAYCARE
- 4 -

I report to the trustees on my examination of the financial statements of Meadow Brook Playcare (the charity) for the year ended 31 May 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity 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 charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’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 that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements 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 financial statements 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 financial statements to be reached.

Carl Page FCCA
Ensors Accountants LLP
Blyth House
Rendham Road
Saxmundham
IP17 1WA
Dated: 24 February 2025
MEADOW BROOK PLAYCARE
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Charitable activities
3
492,726
373,171
Investments
4
932
169
Total income
493,658
373,340
Expenditure on:
Charitable activities
5
421,483
383,444
Total expenditure
421,483
383,444
Net income/(expenditure) and movement in funds
72,175
(10,104)
Reconciliation of funds:
Fund balances at 1 June 2023
253,255
263,359
Fund balances at 31 May 2024
325,430
253,255

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

The notes on pages 7 to 13 form part of these financial statements.

MEADOW BROOK PLAYCARE
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 6 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
9,790
12,605
Current assets
Debtors
12
4,025
3,632
Cash at bank and in hand
321,789
251,056
325,814
254,688
Creditors: amounts falling due within one year
13
(10,174)
(14,038)
Net current assets
315,640
240,650
Total assets less current liabilities
325,430
253,255
Net assets excluding pension liability
325,430
253,255
The funds of the charity
Unrestricted funds
325,430
253,255
325,430
253,255

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 May 2024.

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 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 24 February 2025
Ms R  Page
Ms T Barker
Company registration number 06593494 (England and Wales)
MEADOW BROOK PLAYCARE
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 7 -
1
Accounting policies
Charity information

Meadow Brook Playcare is a private company limited by guarantee incorporated in England and Wales. The registered office is Blyth House, Rendham Road, Saxmundham, IP17 1WA.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, 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 charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

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. 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.

The Charity does not currently have any restricted funds.

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.

Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

Charitable activities are measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts and other sales related taxes.

1.5
Expenditure

Resources expended are accounted for on an accruals basis. Most expenditure is directly appointed to cost categories on the amount attributable to that activity in the year. Charitable activities costs includes costs of preparation of the statutory accounts.

MEADOW BROOK PLAYCARE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 8 -
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost, 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:

Land and buildings
10% straight line
Plant and machinery
25% 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.

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.

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.

MEADOW BROOK PLAYCARE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 9 -
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.

 

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.

3
Charitable activities
2024
2023
£
£

Grants receivable for core activities

269,008
180,999

Playcare fees

223,718
192,133

Uniforms

-
39
492,726
373,171
4

Investments

2024
2023
£
£
Interest receivable
932
169
MEADOW BROOK PLAYCARE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 10 -
5
Charitable activities
2024
2023
£
£
Staff costs
357,977
318,069
Depreciation and impairment
5,160
3,317

Resources, Ofsted fees and food

15,069
18,110

CRB, recruitment, training and clothing costs

2,129
2,339

Website costs

679
806

Advertising

-
392

Bank charges and sundry expenses

1,704
1,813

Rent

10,185
8,842

Rates

5,254
712

Insurance

711
688

Light, heat and water

6,929
8,769

Waste disposal and cleaning costs    

3,674
5,479

Repairs and maintenance    

2,106
4,933

Telephone, photocopier, stationery and computer software

5,432
3,339

Accountancy, payroll and professional fees

4,474
5,836
421,483
383,444
421,483
383,444
6
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
5,160
3,317
7
Trustees

None of the trustees were reimbursed expenses during the year.

One of the trustees, Emma Howard, was also employed by the charity for the entire year as the manager. The cost relating to her employment for the year, including Employer National Insurance and Employer Pension Contributions was £32,615.

 

There were no other transactions with trustees or any persons closely connected with them or related parties.

MEADOW BROOK PLAYCARE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 11 -
8
Employees
Number of employees
2024
2023

The average monthly number employees during the year was:

19
21
Employment costs
2024
2023
£
£
Wages and salaries
335,314
297,649
Social security costs
16,770
15,838
Other pension costs
5,893
4,582
357,977
318,069

No employees during the year received employee benefits excluding employer pension costs of more than £60,000.

9
Key Management Remuneration

The key management of the charity comprises of the trustees and the manager (also appointed as a trustee during the year) and the duty manager. The total employment benefits for the key management personnel of the school were £59,187 (2023 : £55,468).

10
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.

MEADOW BROOK PLAYCARE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 12 -
11
Tangible fixed assets
Land and buildings
Plant and machinery
Total
£
£
£
Cost
At 1 June 2023
2,258
35,732
37,990
Additions
-
2,346
2,346
Disposals
-
(11,415)
(11,415)
At 31 May 2024
2,258
26,663
28,921
Depreciation and impairment
At 1 June 2023
2,258
23,128
25,386
Depreciation charged in the year
-
5,160
5,160
Eliminated in respect of disposals
-
(11,415)
(11,415)
At 31 May 2024
2,258
16,873
19,131
Carrying amount
At 31 May 2024
-
9,790
9,790
At 31 May 2023
-
12,605
12,605
12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,504
2,260
Prepayments and accrued income
1,521
1,372
4,025
3,632
13
Creditors: amounts falling due within one year
2024
2023
£
£
Other taxation and social security
4,931
9,335
Trade creditors
-
661
Accruals and deferred income
5,243
4,042
10,174
14,038
14
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
5,893
4,582
MEADOW BROOK PLAYCARE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
14
Retirement benefit schemes
(Continued)
- 13 -

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.

15
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 June 2023
Incoming resources
Resources expended
At 31 May 2024
£
£
£
£
General funds
253,255
493,658
(421,483)
325,430
Previous year:
At 1 June 2022
Incoming resources
Resources expended
At 31 May 2023
£
£
£
£
General funds
263,359
373,340
(383,444)
253,255
16
Analysis of net assets between funds
Unrestricted
funds
2024
£
At 31 May 2024:
Tangible assets
9,790
Current assets/(liabilities)
315,640
325,430
Unrestricted
funds
2023
£
At 31 May 2023:
Tangible assets
12,605
Current assets/(liabilities)
240,650
253,255
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