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2022-12-31-accounts

REGISTERED COMPANY NUMBER: 02573297 (England and Wales) REGISTERED CHARITY NUMBER: 1001917

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2022

for

Maldwyn Nursery & Family Centre

Morgan Griffiths LLP Chartered Accountants Cross Chambers

9 High Street Newtown Powys SY16 2NY

Maldwyn Nursery & Family Centre

Contents of the Financial Statements for the Year Ended 31 December 2022

Page
Report of the Trustees 1 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Cash Flow Statement 11
Notes to the Cash Flow Statement 12
Notes to the Financial Statements 13 to 20

Maldwyn Nursery & Family Centre (Registered number: 02573297)

Report of the Trustees for the Year Ended 31 December 2022

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 31 December 2022. 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

Our aims and objectives are:

Public benefit

We are confident that the Charity has achieved its primary purpose of providing affordable childcare. This is apparent when comparing costs and standards with those of other providers in the area and is especially true when comparing like for like fees as our nursery does not charge for extras. In addition, our Estyn and CIW inspections indicated that we provide a good level of childcare.

The Nursery continues to operate an inclusive policy, welcoming all children through its doors. Assistance is provided with fees, where appropriate, and we work closely with local social services' staff to provide emergency places when required.

The trustees have had regard to the Charity Commission's guidance on public benefit when exercising any powers or duties to which the guidance is relevant.

Page 1

Maldwyn Nursery & Family Centre (Registered number: 02573297)

Report of the Trustees for the Year Ended 31 December 2022

ACHIEVEMENT AND PERFORMANCE

Charitable activities

This year we held two fundraising events. We held our annual get active week and as part of this challenged both children and staff to a 'walkathon'. The staff challenge was to complete the Welsh 3 peaks in 3 teams on Saturday 19th March. The children and families challenge was to accumulatively walk the distance of the 3 peaks which is a total of 131 miles. They smashed this target and we raised in total £1,211. In December 2022 we made a winter hamper to raffle off and this raised £61.20.

Services that we provide:

We offer after school services during term times. We collect the children by foot, children from Ysgol Calon Yr Dderwen (previously Ladywell Green School, Hafren School) Ysgol Dafydd Llwyd, Penygloddfa School and St Mary's Roman Catholic School.

We also welcome children from other schools, but parents will need to arrange delivery and pick up of children to Nursery premises.

This year saw an increase in enquiries for afterschool club. We make every effort possible to support the local families and families already accessing the nursery and for this reason we expanded our club numbers to be able to offer the spaces. Due to our club room having a limit of 16 children, we rented the school hall from Ysgol Calon Y Dderwen which is just down the road from the nursery. This is where we based our afterschool club until 5pm. The children enjoyed the spacious hall and various activities and opportunities this space provided.

Our users continue to rate us very highly and are appreciative of the efforts and flexibility shown by the staff and the nursery as a whole.

We had our CIW inspection in October 2019 where we were rated GOOD in all 6 focus areas which we are really proud of.

Once again, our thanks go to all staff for their determination and hard work.

A highly motivated and skilled workforce is essential to comply with CIW and Health & Safety regulations and we are fortunate in having a professional and loyal workforce.

FINANCIAL REVIEW

Financial position

The statement of Financial Activities show a surplus for the year of £62,491 (2021: 37,805), and reserves now stand at £229,163 (2021: £166,672).

Principal funding sources

The principal funding source of the Nursery remains fees and there is no reason why we cannot remain a thriving, sustainable venture. We are not dependent on grants for sustainability and are, thus, less dependent on political whims. Our fees remain lower than all other nurseries in the area, continuing to give excellent value for money. We continue to be a significant local employer and remain confident as to the future viability of the charity.

Page 2

Maldwyn Nursery & Family Centre (Registered number: 02573297)

Report of the Trustees for the Year Ended 31 December 2022

FINANCIAL REVIEW

Investment policy and objectives

Under the memorandum and articles of association, the charity has the power to make any investments, which the Trustees see fit. Aside from retaining a prudent amount in reserves each year, the charity's funds are all spent in the short term. There are no funds available for long term investment.

Funds surplus to day-to-day needs, which are held in Barclays Bank, are invested in COIF Charity Fund. Since these funds constitute our reserves it is important that they are invested in low risk category and that they can be accessed in the short term. They are therefore invested in the deposit account and funds are available without notice.

Reserves policy

The Charity's funds have all been applied in accordance with its objectives. The Charity's assets are all being maintained in the furtherance of these objectives.

The Trustees and Directors have established a policy whereby the unrestricted funds not committed or invested in tangible or intangible fixed assets (i.e. free reserves) held by the Charity should be sufficient to cover salaries for a period of three months operational costs. This is estimated to be in the region of £101,400. Net current assets on the balance sheet, being free reserves, currently stand at £178,429 (2021 £116,181. Efforts continue to build free reserves in a sustainable manner and this will remain under review by the Management & Committee. Management & Committee are working on how we can raise these funds to the desirable amount and are confident we can see some improvement on this in the future.

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the nursery has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

Management and trustees regularly risk assess any potential concerns that may affect the business and operations.

Page 3

Maldwyn Nursery & Family Centre (Registered number: 02573297)

Report of the Trustees for the Year Ended 31 December 2022

FUTURE PLANS

We always aim to improve our Nursery and the opportunities we can provide to the children in our care. Our future development plans are based on our Nursery's aims and objectives:

T o create a warm, welcoming, safe, caring and stimulating environment where each child can develop their social, emotional and educational potential, whilst becoming independent young learners.

This year we continue to improve the overall look of the building including the updating fixtures and fittings. We replaced some internal doors and general maintenance. We continually refresh the resources and play opportunities available to the children. Staff have attended training to support the learning and development of the children including Incredible Beginnings, Learning Language and Loving it, Elklan and Adventures with Alice. Leaders visited other settings in the local area to get ideas and share knowledge.

To work in partnership with parents and carers, sharing our professional understanding with their specialised knowledge of their children's development.

We have continued to use the SeeSaw app through this year and we have received positive feedback from families. The keyworkers within the room have used this as a tool to share photos, learning, achievements and communication. It enables the families to directly message the keyworker and staff working with their child. We have also been able to communicate any changes within the nursery, activities or parent notices directly to the parents so they can always see what is happening at Maldwyn Nursery and be part of our future progression.

We held a parent/family open session on a Saturday morning to be inclusive of all families who may have work commitments allowing them to come into the setting, see their child's learning and development progress and talk to the keyworkers.

The nursery still uses Parenta to send invoices with parents and all the children's contact information is stored.

. To offer a rich, stimulating, challenging balanced curriculum based on the New Curriculum in Wales. We implement the principles of the New Curriculum with an emphasis on Child Led learning, children's choice and in the moment planning.

We have 3+ funding for children available from the term after they turn 3 until starting school and work closely with Powys Childcare team to ensure they are accessing high quality childcare and getting them prepared for school.

Flying start is implemented within the two's room for some children and child led learning is prevalent throughout the room. We have regular meetings and engage with Powys Flying Start Team and Powys Advisory teacher which allows us to continually improve and provide in line with their expectations.

To provide high quality, affordable childcare, where everyone is welcome.

We ensure that the individual's rights to equal opportunities are met regardless of race, religion, gender and ability.

We continue to offer the Childcare Offer for our 3 and 4 year olds accessing our 3 year old room. This allows working parents of 3 and 4 year olds to be able to access funding to cover up to 30 hours of their childcare costs which helps many of our families financially.

Throughout the next year we will continue to ensure our prices remain affordable without compromising the care of the children we care for, we will always look to support parents throughout any hardship they may experience so that the child is always best cared for. We will continue to provide equal opportunities throughout entrance to the nursery, activities within the nursery and the care the children receive, always planning our environment so that it's suitable for a mixture of ages and abilities so that all children are supported and challenged to further their development through play, fun and laughter. We continue to offer a 50% discount retainer fee on sessions not attended due to sickness, holidays or absences allowing more flexibility for families. All costs for food, snacks and drinks is also included in the session cost.

Page 4

Maldwyn Nursery & Family Centre (Registered number: 02573297)

Report of the Trustees for the Year Ended 31 December 2022

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.

The subscribing members of the company undertake to contribute £1 each in the event of its winding up.

Recruitment and appointment of new trustees

The Board has the power to appoint additional trustees as it considers fit to do so. No trustee has any beneficial interest in the company.

The Directors of the company are also Charity Trustees for the purpose of Charity law and under the Company's Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are elected to serve for a period of one year and must be re-elected at the next Annual General meeting.

The board aims to provide a balance of business, family user and childcare skills on the Management Committee.

Organisational structure and decision making

The Management Committee meet bi-monthly and are responsible for the strategic direction and policy of the Charity. Currently the Committee has several members from a variety of professional backgrounds relevant to the work of the Charity. The Company Secretary and a Staff Representative also sit on the Committee but have no voting rights.

A system of delegation is in place and day to day responsibility for the provisions of the services rest with the Manager along with the Management Team. The manager is the Responsible Individual, personal in charge, safeguarding officer, ALNCO and health and safety officer and is responsible for ensuring the Nursery delivered the services specified, all financial matters and ensuring that key performance indicators are met individual supervision of the staff and ensuring that the team continue to develop their skills and working practices in line with good practice. The deputy manager is also responsible individual, person in charge and deputy safeguarding officer. The deputy manager supports the manager with all day-to-day tasks, including running the nursery in the managers absence. We have a named deputy who takes on these responsibility in the absence of both management.

The trustees have considered the salary of key management personnel in line with best practice.

Induction and training of new trustees

Most trustees are already familiar with the practical work of the Charity as they are usually users of the Nursery's services.

They will be personally introduced to members of the Board by the Chairman and they will give a brief verbal introduction of her/him self. They will receive a copy of the Committee Members Handbook which contains information on Directors' duties and responsibilities along with the Charity Commission's handout and brief details of the Nursery's services.

Related parties

The Charity ensures that necessary disclosures of any interest are made and registered as necessary at Committee meetings. In so far as it is complimentary to the Charity's objectives, the Charity is guided by both local and national policy.

Page 5

Maldwyn Nursery & Family Centre (Registered number: 02573297)

Report of the Trustees for the Year Ended 31 December 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management

A review of potential risks to the Charity was carried out which highlighted the following as the major risks:

All policies and Procedures and Risk Assessments are regularly updated and are reviewed at least annually.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

02573297 (England and Wales)

Registered Charity number

1001917

Registered office

Maldwyn Nursery Park Lane Newtown Powys SY16 1DE

Trustees

H Summers M J Wright (resigned 6.6.22) W D Richards S Price E Thomas J A White I B Hancocks Nursery Manager H Richards C Higgins

Independent Examiner

Morgan Griffiths LLP Chartered Accountants Cross Chambers 9 High Street Newtown Powys SY16 2NY

Page 6

Maldwyn Nursery & Family Centre (Registered number: 02573297)

Report of the Trustees for the Year Ended 31 December 2022

REFERENCE AND ADMINISTRATIVE DETAILS Senior Management Mr Ian Hancocks - Nursery Manager Miss Chelsea Thorley - Deputy Manager

Approved by order of the board of trustees on 27 September 2023 and signed on its behalf by:

I B Hancocks - Trustee

Page 7

Independent Examiner's Report to the Trustees of Maldwyn Nursery & Family Centre

Independent examiner's report to the trustees of Maldwyn Nursery & Family Centre ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.

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.

Thomas Landers BA FCA

Morgan Griffiths LLP Chartered Accountants Cross Chambers 9 High Street Newtown Powys SY16 2NY

27 September 2023

Page 8

Maldwyn Nursery & Family Centre

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 December 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Childcare
Investment income
3
Total
EXPENDITURE ON
Charitable activities
5
Childcare
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 31.12.22
Unrestricted
Restricted
Total
fund
funds
funds
£
£
£
125
-
125
509,073
-
509,073
403
-
403
509,601
-
509,601
447,110
-
447,110
62,491
-
62,491
166,672
-
166,672
229,163
-
229,163		 31.12.21
Total
funds
£
-
426,867
2
426,869
389,064
37,805
128,867
166,672

The notes form part of these financial statements

Page 9

Maldwyn Nursery & Family Centre (Registered number: 02573297)

Balance Sheet 31 December 2022

Notes
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
17
Unrestricted funds
TOTAL FUNDS		 31.12.22
£
50,734
89,740
98,834
188,574
(10,145)
178,429
229,163
229,163
229,163
229,163		 31.12.21
£
50,491
66,882
55,810
122,692
(6,511)
116,181
166,672
166,672
166,672
166,672

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

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 27 September 2023 and were signed on its behalf by:

I B Hancocks - Trustee

The notes form part of these financial statements

Page 10

Maldwyn Nursery & Family Centre

Cash Flow Statement for the Year Ended 31 December 2022

31.12.22 31.12.21
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 46,302 21,666
Net cash provided by operating activities 46,302 21,666
Cash flows from investing activities
Purchase of tangible fixed assets (3,681) (10,191)
Interest received 403 2
Net cash used in investing activities (3,278) (10,189)
Change in cash and cash equivalents
in the reporting period 43,024 11,477
Cash and cash equivalents at the
beginning of the reporting period 55,810 44,333
Cash and cash equivalents at the end
of the reporting period 98,834 55,810

The notes form part of these financial statements

Page 11

Maldwyn Nursery & Family Centre

Notes to the Cash Flow Statement for the Year Ended 31 December 2022

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
31.12.22 31.12.21
£ £
Net income for the reporting period (as per the Statement of
Financial Activities) 62,491 37,805
Adjustments for:
Depreciation charges 3,438 2,797
Interest received (403) (2)
Increase in debtors (22,858) (15,300)
Increase/(decrease) in creditors 3,634 (3,634)
Net cash provided by operations 46,302 21,666
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.22 Cash flow At 31.12.22
£ £ £
Net cash
Cash at bank and in hand 55,810 43,024 98,834
55,810 43,024 98,834
Debt
Debts falling due within 1 year (4,685) - (4,685)
(4,685) - (4,685)
Total 51,125 43,024 94,149

The notes form part of these financial statements

Page 12

Maldwyn Nursery & Family Centre

Notes to the Financial Statements for the Year Ended 31 December 2022

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 property - 4% on reducing balance Plant and machinery - 25% on reducing balance Fixtures and fittings - 25% on reducing balance Computer equipment - 25% on reducing balance

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.

Page 13

continued...

Maldwyn Nursery & Family Centre

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

2.
DONATIONS AND LEGACIES
Donations
3.
INVESTMENT INCOME
Deposit account interest
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Childcare fees
Childcare
Other income
Childcare
Grants
Childcare
HMRC JRS grant
Childcare
Grants received, included in the above, are as follows:
Flying Start
PCC - Childcare Offer
PCC - Cwtch
PCC - Child Development
Action for Children
PCC - Early Years Development
PCC - Early Years Pupil Development
PCC - EYEA
PCC - RRRS
PCC - Other		 31.12.22
£
125
31.12.22
£
403
31.12.22
£
432,611
2,972
73,490
-
509,073
31.12.22
£
44,467
7,599
1,430
2,720
-
420
4,600
5,147
5,188
1,919
73,490		 31.12.21
£
-
31.12.21
£
2
31.12.21
£
337,615
2,767
65,264
21,221		 31.12.21
£
-
31.12.21
£
2
31.12.21
£
337,615
2,767
65,264
21,221
426,867
31.12.21
£
44,819
12,762
2,159
2,720
2,804
-
-
-
-
-
65,264
65,264

Page 14

continued...

Maldwyn Nursery & Family Centre

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

5. CHARITABLE ACTIVITIES COSTS

Childcare
6.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Trustees' remuneration etc
Staff costs
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Sundries
Food
Cleaning & Consumables
Toys
Trips and Drama
Repairs and Renewals
Bank charges
Advertising
Administration
Training
Depreciation
7.
SUPPORT COSTS
Childcare
8.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 Direct
Costs (see
note 6)
£
444,830		 Support
costs (see
note 7)
£
2,280
31.12.22
£
36,592
329,024
5,259
4,015
1,587
1,597
1,354
2,392
13,660
7,976
12,434
977
19,244
173
195
3,504
1,409
3,438
444,830
31.12.22
£
3,438		 Totals
£
447,110
31.12.21
£
32,457
289,638
6,621
3,461
12,484
1,185
1,099
1,359
12,105
5,761
11,467
252
4,079
174
-
2,323
302
2,797
387,564
Governance
costs
£
2,280
31.12.21
£
2,794

Page 15

continued...

Maldwyn Nursery & Family Centre

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

9. TRUSTEES' REMUNERATION AND BENEFITS

TRUSTEES' REMUNERATION AND BENEFITS
31.12.22 31.12.21
£ £
Trustees' salaries 32,409 28,996
Trustees' social security 3,394 2,779
Trustees' pension contributions to money purchase schemes 789 682
36,592 32,457

The above remuneration was paid to Mr I Hancock purely in respect of his employment as nursery manager. No element of this remuneration is in relation to his trusteeship.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.

10. STAFF COSTS

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

31.12.22 31.12.21
Nursery manager 1 1
Nursery staff 28 25
29 26

The charity considers its key management personnel comprise the senior management listed on page 7. The total employment benefits including employer pension contributions of the key management personnel for the year ended 31 December 2022 were £55,933 (2021: £47,248).

The number of employees whose emoluments as defined for taxation purposes amounted to over £60,000 in either period was nil.

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Charitable activities
Childcare
Investment income
Total
EXPENDITURE ON
Charitable activities
Childcare
NET INCOME		 Unrestricted
fund
£
426,867
2
426,869
389,064
37,805		 Restricted
funds
£
-
-
-
-
-		 Total
funds
£
426,867
2
426,869
389,064
37,805

Page 16

continued...

Maldwyn Nursery & Family Centre

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
fund
funds
£
£
RECONCILIATION OF FUNDS
Total funds brought forward
128,867
-
TOTAL FUNDS CARRIED FORWARD
166,672
-
12.
TANGIBLE FIXED ASSETS
Improvements
Fixtures
to
Plant and
and
Computer
property
machinery
fittings
equipment
£
£
£
£
COST
At 1 January 2022
100,562
45,082
5,030
9,341
Additions
-
2,159
-
1,522
At 31 December 2022
100,562
47,241
5,030
10,863
DEPRECIATION
At 1 January 2022
52,444
44,189
4,740
8,151
Charge for year
1,924
763
73
678
At 31 December 2022
54,368
44,952
4,813
8,829
NET BOOK VALUE
At 31 December 2022
46,194
2,289
217
2,034
At 31 December 2021
48,118
893
290
1,190
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22
£
Trade debtors
89,740
Other debtors
-
89,740		 Total
funds
£
128,867
166,672
Totals
£
160,015
3,681
163,696
109,524
3,438
112,962
50,734
50,491
31.12.21
£
64,162
2,720
66,882		 Total
funds
£
128,867
166,672

Page 17

continued...

Maldwyn Nursery & Family Centre

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 15)
Trade creditors
Social security and other taxes
Accrued expenses
15.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Other loans
16.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Restricted
fund
funds
£
£
Fixed assets
50,734
-
Current assets
188,574
-
Current liabilities
(10,145)
-
229,163
-
17.
MOVEMENT IN FUNDS
At 1.1.22
£
Unrestricted funds
General fund
166,672
TOTAL FUNDS
166,672
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
509,601
TOTAL FUNDS
509,601		 31.12.22
£
4,685
326
3,634
1,500
10,145
31.12.22
£
4,685
31.12.22
Total
funds
£
50,734
188,574
(10,145)
229,163
Net
movement
in funds
£
62,491
62,491
Resources
expended
£
(447,110)
(447,110)		 31.12.21
£
4,685
326
-
1,500
6,511
31.12.21
£
4,685
31.12.21
Total
funds
£
50,491
122,692
(6,511)
166,672
At
31.12.22
£
229,163
229,163
Movement
in funds
£
62,491
62,491

Page 18

continued...

Maldwyn Nursery & Family Centre

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.1.21
£
Unrestricted funds
General fund
128,867
TOTAL FUNDS
128,867
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
426,869
TOTAL FUNDS
426,869		 Net
movement
in funds
£
37,805
37,805
Resources
expended
£
(389,064)
(389,064)		 At
31.12.21
£
166,672
166,672
Movement
in funds
£
37,805
37,805

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

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.1.21
£
128,867
128,867		 Net
movement
in funds
£
100,296
100,296		 At
31.12.22
£
229,163
229,163

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
936,470
936,470		 Resources
expended
£
(836,174)
(836,174)		 Movement
in funds
£
100,296
100,296

Page 19

continued...

Maldwyn Nursery & Family Centre

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

18. RELATED PARTY DISCLOSURES

Nursery fees amounting to £15,719 (2021 £1,286) were paid by trustees and the senior management, of which £799 (2021 Nil) was outstanding at the year end. No beneficial interest is held in these related party transactions.

The charity made no repayments (2021: Nil) against an interest-free loan, with no fixed repayment date, from M Jarvis (former Company Secretary). The balance at the year end was £4,685 (2021 £4,685).

Page 20