Charity registration number 1096356 (England and Wales)
Company registration number 04451272
BOOMERANG KIDS
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
BOOMERANG KIDS
LEGAL AND ADMINISTRATIVE INFORMATION
Directors' and trustees
Mrs H Hicks
Ms P Rafizadeh-Farahani
Mr R J Rogers
Ms C S Samaroo
Ms M L Rogers
Secretary
Ms M L Rogers
Charity number
1096356
Company number
04451272
Registered office
Saltdean Barn
Oval Park
Arundel Drive West
Brighton
East Sussex
England
BN2 8SJ
Independent examiner
Oliver Read FCCA ACA
James Todd and Co
Drayton House
Drayton Lane
West Sussex
England
PO20 2EW
BOOMERANG KIDS
CONTENTS
Page
Trustees' report
1 - 3
Independent examiner's report
4
Statement of financial activities
5
Balance sheet
6
Statement of cash flows
7
Notes to the financial statements
8 - 17
BOOMERANG KIDS
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 August 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 objects ("the Objects") are:

 

To advance the education of children up to the age of 11, in and around the parish of Saltdean, East Sussex, in particular by:

 

a) the provision of pre-school, after school and other childcare facilities.

b) the provision of relevant training courses for parents, volunteers and staff.

 

The group is registered with Ofsted to have the capacity to supply up to eighty one children each session. These include up to fifteen baby places for children under two years of age.

 

Staff are encouraged to continue their personal development plans and are sponsoring 2 senior members of staff with their university degrees in childcare and education.

 

Public benefit

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

Achievements and performance

The baby room numbers continue to be high and an increase in speech and language delay has been noted across the nursery.

 

The affects of Covid on children's development continues. These children now move up into our pre-school rooms and we continue to support them.

 

Staff well-being continues as a priority. Several staff have requested flexible working hours and adjustments are being worked out, however, these don't always fit with the business needs, and more part-time staff is costly to the setting. Increases in training, uniforms and HR requirements. Small things such as social events, comfortable staff room items and well-being inset days are planned.

 

Nursery work is stressful and low paid, government funding for the 'free' hours is still low. By September 2025 most children will be covered by funding rather than private fees. The announcement in the budget that yet another rise to minimum wage and NI contributions alongside a lower income has caused disappointment and frustration.

 

The added relaxing of staff ratios, meaning more children per staff member to look after, has caused many to re-consider career options and we have decided NOT to change our ratios from our current ones, as we believe it would impact on quality of care and staff well-being.

 

It is not possible to operate at full capacity, empty sessions on odd days are hard to navigate and fill. High numbers of SEN (18) in the setting take time to provide for, as do children with English as an additional language (21). 1 child currently needs 1:1 care, partly financially supported by Brighton Council.

 

The setting looked into innovative ideas to retain staff. Due to high housing costs in the area, we looked into purchasing property and renting to staff at affordable rental. However, the unsettled markets and Charities Aid Foundation bank high costs to arrange the mortgage, made this unviable. The setting continues to have the same issues and is still considering its options around purchasing property.

BOOMERANG KIDS
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -

Two staff have now finished working for the DfE under the ‘Experts and Mentors program’ This was aimed at mitigating the affects of covid on children development. These staff have supported other nurseries and schools in improving practice and outcomes for children. Payment from the DfE for their DfE wages has come via our payroll system and will be identified separately in the accounts for clarity. Other BK staff will then have access to the DfE training programs related to this work.

Financial review

During the year, the charity had a deficit of £13,502 (2023: surplus £39,236), of which £2,704 (2023: surplus £45,594) was a deficit from unrestricted funds, and £10,798 (2023: deficit £6,358) was a deficit from restricted funds. In response to deficits in previous years, the setting has increased its fees from September 2023 and there will be an annual increase every September. Parental contracts have been altered to allow a further mid-year increase, should there be a need for financial sustainability.

 

At the balance sheet date, total funds stood at £958,940 (2023: £972,442), of which £356,980 (2023: £359,684) was unrestricted funds, and £601,960 (2023: £612,758) was restricted funds in relation to the restricted asset, the barn. At the balance sheet date, a transfer of £9,534 (2023: £13,974) was made from unrestricted funds to restricted funds, to reflect the movement on the loan and the property over which it is secured.

Reserves policy

The trustees wish to hold reserves of at least three months running costs, which equates to approximately £150,000. As at the year-end, the charity had free reserves of £356,980 (2023: £359,684). The trustees are confident that the charity is a going concern as long as financial budgeting and careful financial monitoring continues.

The setting employed graduate staff last year and alongside this to balance the finances, three apprentices. This works well, however, the further increase in the living wage is a concern as it affects more senior staff too. Increasing junior staff wages has a knock on affect across the nursery. The extra six hours study time a week to pay apprentices at the £11.44 per hour (April 2024) adds concerns to the monthly staffing costs with further increase due in April 2025.

Professional advice on a new fees structure has been obtained as the setting recognised the need to get support with financial decisions. The government funding covers more and more age groups of children which is a huge concern as the low rate paid does not cover the settings costs and BK is not allowed under government funding rules, to add parental fee ‘top up’ to mitigate the losses. By September 2025 nearly all children, and therefore all fee income, will be via government funding. This leaves the setting battling with balancing reducing its costs and trying to maintain quality.

Major risks

The trustees annually review the risks that the charity faces. These risks continue to be mainly related to finance. Helen Hicks, founder of Boomerang Kids, is an important part of the charity's risk assessment and considered to be another risk should she leave or retire. The trustees have put in place a senior team to support her in the running of the nursery. They have also arranged flexible working hours.

 

The trustees have a risk management strategy which comprises the following:

 

The trustees are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a company limited by guarantee, company number 04451272, charity registration number 1096356, and is governed by its Memorandum and Articles of Association. The flysheet to the accounts gives details of the charity's principle addresses and those of other relevant organisations.

BOOMERANG KIDS
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -

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:

Mrs H Hicks
Ms P Rafizadeh-Farahani
Mr R J Rogers
Ms C S Samaroo
Ms M L Rogers
Recruitment and appointment of trustees

The Memorandum and Articles of Association provides for a minimum of three trustees. Were there a requirement for new trustees, these would be identified and appointed by the remaining trustees.

 

Training for new and existing trustees is undertaken as required.

 

The chair of trustees is responsible for the induction of any new trustee, which involves awareness of a trustee's responsibility and philosophical approach to the charity. A new trustee would receive copies of the previous year's annual report and accounts, and a copy of the Charity Commission leaflet 'The Essential Trustee: What You Need to Know'.

 

The day-to-day running of the group is delegated to the manager, Mrs H Hicks.

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.

Statement of trustees' responsibilities

The trustees, who are also the directors of Boomerang Kids 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).

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

Mrs H Hicks
Trustee
18 February 2025
BOOMERANG KIDS
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BOOMERANG KIDS
- 4 -

I report to the trustees on my examination of the financial statements of Boomerang Kids (the charity) for the year ended 31 August 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.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 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. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of FCCA ACA, 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 Companies Act 2006.

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 Companies Act 2006 other than any requirement that the financial statements 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 financial statements 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.

Oliver Read FCCA ACA
James Todd and Co
Drayton House
Drayton Lane
West Sussex
PO20 2EW
England
Dated: 12 March 2025
BOOMERANG KIDS
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
7,345
-
7,345
20,500
-
20,500
Charitable activities
4
846,235
-
846,235
848,422
-
848,422
Investments
5
237
-
237
201
-
201
Total income
853,817
-
853,817
869,123
-
869,123
Expenditure on:
Charitable activities
6
846,987
20,332
867,319
809,555
20,332
829,887
Total expenditure
846,987
20,332
867,319
809,555
20,332
829,887
Net income/(expenditure)
6,830
(20,332)
(13,502)
59,568
(20,332)
39,236
Transfers between funds
(9,534)
9,534
-
(13,974)
13,974
-
Net movement in funds
(2,704)
(10,798)
(13,502)
45,594
(6,358)
39,236
Reconciliation of funds:
Fund balances at 1 September 2023
359,684
612,758
972,442
314,090
619,116
933,206
Fund balances at 31 August 2024
356,980
601,960
958,940
359,684
612,758
972,442

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

BOOMERANG KIDS
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 6 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
663,364
683,336
Current assets
Debtors
12
6,901
6,648
Cash at bank and in hand
393,200
411,500
400,101
418,148
Creditors: amounts falling due within one year
14
(55,716)
(74,210)
Net current assets
344,385
343,938
Total assets less current liabilities
1,007,749
1,027,274
Creditors: amounts falling due after more than one year
15
(48,809)
(54,832)
Net assets
958,940
972,442
The funds of the charity
Restricted income funds
16
601,960
612,758
Unrestricted funds
17
356,980
359,684
958,940
972,442

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 August 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 18 February 2025
Mrs H Hicks
Trustee
Company registration number 04451272 (England and Wales)
BOOMERANG KIDS
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
20
(7,213)
25,723
Investing activities
Purchase of tangible fixed assets
(1,790)
(971)
Investment income received
237
201
Net cash used in investing activities
(1,553)
(770)
Financing activities
Repayment of bank loans
(9,534)
(13,974)
Net cash used in financing activities
(9,534)
(13,974)
Net (decrease)/increase in cash and cash equivalents
(18,300)
10,979
Cash and cash equivalents at beginning of year
411,500
400,521
Cash and cash equivalents at end of year
393,200
411,500
BOOMERANG KIDS
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 8 -
1
Accounting policies
Charity information

Boomerang Kids is a private company limited by guarantee incorporated in England and Wales. The registered office is 4 Frederick Terrace, Frederick Place, Brighton, East Sussex, BN1 1AX.

1.1
Accounting convention

The financial statements have been prepared in accordance with 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. 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.

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.
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.

BOOMERANG KIDS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 9 -
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 land and buildings
50 years straight line
Fixtures and fittings
3 years straight line

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.

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.

BOOMERANG KIDS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 10 -
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.

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
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
295
-
Government grants
7,050
20,500
7,345
20,500
BOOMERANG KIDS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 11 -
4
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Nursery income
Sale of goods
574,025
619,358
Performance related grants
272,210
229,064
846,235
848,422
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
237
201
6
Expenditure on charitable activities
Nursery running costs
Nursery running costs
2024
2023
£
£
Direct costs
Staff costs
692,023
663,559
Depreciation and impairment
21,762
22,129
Nursery running expenses
144,405
131,647
858,190
817,335
Share of support and governance costs (see note 7)
Governance
9,129
12,552
867,319
829,887
Analysis by fund
Unrestricted funds
846,987
809,555
Restricted funds
20,332
20,332
867,319
829,887
BOOMERANG KIDS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 12 -
7
Support costs allocated to activities
2024
2023
£
£
Governance costs
9,129
12,552
Analysed between:
Nursery running costs
9,129
12,552
2024
2023
Governance costs comprise:
£
£
Legal and professional
131
3,294
Accountancy fees
4,198
4,458
Bookkeeping fees
4,800
4,800
9,129
12,552
8
Directors' and trustees

Mrs H Hicks, a trustee, was paid £50,480 in salary (2023: £49,980), and £5,121 in pension contributions (2023: £5,121) during the year in her capacity as Nursery Manager, as authorised by the trustees and the Charity Commission. In 2023, a further £4,500 was paid to Mrs H Hicks, but this related to work done on behalf of the Department of Education.

 

None of the other trustees (or any persons connected with them) received any remuneration or benefits from the companycharity during the year.

9
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
37
35
Employment costs
2024
2023
£
£
Wages and salaries
651,484
608,492
Social security costs
23,750
39,472
Other pension costs
16,789
15,595
692,023
663,559
There were no employees whose annual remuneration was more than £60,000.
BOOMERANG KIDS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 13 -
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 Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

 

11
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 September 2023
1,016,574
49,591
1,066,165
Additions
-
1,790
1,790
Disposals
-
(14,006)
(14,006)
At 31 August 2024
1,016,574
37,375
1,053,949
Depreciation and impairment
At 1 September 2023
334,896
47,933
382,829
Depreciation charged in the year
20,332
1,430
21,762
Eliminated in respect of disposals
-
(14,006)
(14,006)
At 31 August 2024
355,228
35,357
390,585
Carrying amount
At 31 August 2024
661,346
2,018
663,364
At 31 August 2023
681,678
1,658
683,336
12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
163
78
Prepayments and accrued income
6,738
6,570
6,901
6,648
BOOMERANG KIDS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 14 -
13
Loans and overdrafts
2024
2023
£
£
Bank loans
59,386
68,920
Payable within one year
10,577
14,088
Payable after one year
48,809
54,832
Amounts included above which fall due after five years:
Payable by instalments
-
7,166

The bank loan is secured by a fixed charge over the leasehold premises, Saltdean Barn, limited to £200,000. At the year end the interest rate was 1.6%.

 

14
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
13
10,577
14,088
Other taxation and social security
9,526
11,528
Trade creditors
24,819
38,004
Other creditors
6,314
6,230
Accruals and deferred income
4,480
4,360
55,716
74,210
15
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans
13
48,809
54,832
BOOMERANG KIDS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 15 -
16
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 September 2023
Resources expended
Transfers
At 31 August 2024
£
£
£
£
Barn and garden
612,758
(20,332)
9,534
601,960
Previous year:
At 1 September 2022
Resources expended
Transfers
At 31 August 2023
£
£
£
£
Barn and garden
619,116
(20,332)
13,974
612,758

The restricted fund originally related to grant income that was received to renovate Saltdean Barn and its garden. Now Saltdean Barn and garden has been renovated it now represents the net book value of Saltdean Barn and garden. Subsequently a loan was also taken out for further property improvements which was secured against Saltdean Barn, so it has also been allocated to the restricted fund.

 

The movement in the year reflects the net movement on the asset and loan.

17
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 September 2023
Incoming resources
Resources expended
Transfers
At 31 August 2024
£
£
£
£
£
General funds
359,684
853,817
(846,987)
(9,534)
356,980
Previous year:
At 1 September 2022
Incoming resources
Resources expended
Transfers
At 31 August 2023
£
£
£
£
£
General funds
314,090
869,123
(809,555)
(13,974)
359,684
BOOMERANG KIDS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 16 -
18
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 August 2024:
Tangible assets
2,018
661,346
663,364
Current assets/(liabilities)
354,962
(10,577)
344,385
Long term liabilities
-
(48,809)
(48,809)
356,980
601,960
958,940
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 August 2023:
Tangible assets
1,659
681,677
683,336
Current assets/(liabilities)
358,025
(14,087)
343,938
Long term liabilities
-
(54,832)
(54,832)
359,684
612,758
972,442
19
Related party transactions

There were no disclosable related party transactions during the year (2023 - none), apart from the remuneration disclosed in note 8.

20
Cash (absorbed by)/generated from operations
2024
2023
£
£
(Deficit)/surplus for the year
(13,502)
39,235
Adjustments for:
Investment income recognised in statement of financial activities
(237)
(201)
Depreciation and impairment of tangible fixed assets
21,762
22,129
Movements in working capital:
(Increase)/decrease in debtors
(253)
674
(Decrease) in creditors
(14,983)
(36,114)
Cash (absorbed by)/generated from operations
(7,213)
25,723
BOOMERANG KIDS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 17 -
21
Analysis of changes in net funds
At 1 September 2023
Cash flows
At 31 August 2024
£
£
£
Cash at bank and in hand
411,500
(18,300)
393,200
Loans falling due within one year
(14,088)
3,511
(10,577)
Loans falling due after more than one year
(54,832)
6,023
(48,809)
342,580
(8,766)
333,814
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