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2022-03-31-accounts

Charity registration number 1015045

Company registration number 02581092 (England and Wales)

HAWKS ROAD COMMUNITY NURSERY LIMITED

T/A TIK-TOK NURSERY

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY LEGAL AND ADMINISTRATIVE INFORMATION

Trustees P J Maughan
A C Miller
F I Milburn
M Nurse
R Richardson
Charity number 1015045
Company number 02581092
Registered office The Boulevard
Holmes Drive
Gateshead
Tyne And Wear
England
NE10 0DJ
Independent examiner Rebecca Davison, ACA
12 Bessemer Court, Hownsgill Ind Park
Consett
Co Durham
DH8 7BL

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Summary income and expenditure account 7
Balance sheet 8
Statement of cash flows 9
Notes to the financial statements 10 - 19

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

The Trustees present their report and financial statements for the year ended 31 March 2021.

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

TIK-TOK was set up as a community nursery in East Gateshead in May 1991 gaining charitable status in 1992. A second Nursery at Hertfordshire House, Pelaw was opened in June 2015 and closed in December 2021 following a strategic review of operations.

TIK-TOK provides high quality affordable childcare to the local community, supporting those parents who wish to either return to work or continue with their education. Its aim is to work in partnership with parents to promote a stimulating and exciting environment where children can progress at their own rate. The purpose built buildings, funded with substantial support from public sector sources, provide us with the opportunity to realise these aspirations. The Company's Memorandum provides for operating as has been described above - it would need to be amended if the Company sought to introduce significant diversity.

Public benefit

The trustees have complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission with regard to public benefit statements. Public benefit is inherent in the objects of the Charity.

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

Achievements and performance

The trustees have complied with their duty in' Section 4 of the 2006 Charities Act and have due regard to guidance published by the Charity Commission. In summary;

We offer free nursery education for 2 year olds who now receive 15 hours of free childcare per week, as required by current government policy and strongly support Gateshead Council's Sure Start Policy.

We also provide up to 30 hours per week free nursery education for 3-5 year olds. We offer these hours flexibly in order to support those parents wishing to return to work or higher education.

We use the funding streams available to us to improve the personal and professional development of all of our staff and continue to implement a rigorous and tailored programme of staff training.

Under the guidance of OFSTED and the Self Evaluation procedure our staff continue to reflect on the service we offer to ensure best practice. Our Special Educational Needs Co-ordinators continue to work closely with the Early Years Inclusion and Child Development Teams to improve outcomes for the children in our care who require additional support.

The most recent Ofsted inspections were: Hawks Road – June 2019 – assessment “Good”.

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

OVERVIEW

The year represented a return to more normal activity following the COVID pandemic though it still affected operations to some extent. While it remains difficult to fully assess the long-term effect of the pandemic, we are confident the organisation is in a strong position to mange future operations.

During the year we continued our policy of upgrading and refurbishing the nursery on a phased basis with expenditure on equipment for the children being prioritised. This has undoubtedly been a factor in our ability to attract new children despite competition from local nurseries.

We undertook a strategic review of operations in late 2021 and made the decision to close the Pelaw setting at the expiry of its lease and consolidate operations in Gateshead.

Future levels of activity will depend on the usual factors: trends in birth rates locally; competition for pre-school children; and the numbers of student parents attending the local college.

We will continue to seek to employ well-qualified, caring staff and will intensify staff training as an essential part of our plans for the future. The investment in well-motivated staff can only have a positive impact on the level of care and education that the nurseries provide and the manner in which it is delivered.

Financial review

Principal funding sources

The key funders of the operations undertaken by the charity are central and local government under their childcare initiatives. The contributions from these bodies are augmented by parental contributions, normally a 55:45 split.

Financial Position

Net incoming resources increased by £80,201 on Unrestricted funds to £865,603, whilst endowment Funds have reduced by £32,760 to £635,804. Net current assets at 31 March 2022 amounted to £508,868.

Reserves Policy

It continues to be the policy of the charitable company to maintain unrestricted funds, which are our free reserves, at a level sufficient to cover fluctuations in income based on projection relating to child numbers on a term by term basis. The amount of such reserves at 31st March 2022 is £865,603.

The key funders of the operations undertaken by the charity are central and local government under their respective childcare initiatives. The contributions from these bodies which amount to 58% of our total income, together with the parental contributions ensure the continuous flow of funds to enable the provision of nursery services of the highest quality.

The attainment of high awards from the Ofsted inspections will ensure that the charity remains on the referral lists of the local authority and safeguard future funding.

Investment policy and objectives

Funds that are not immediately required are invested in suitable deposits, attempting to maximise the return, risk free.

Going concern

Given the level of net assets held at 31st March 2022, the trustees consider the charity to be a going concern.

Indemnity

A qualifying third party indemnity is in force for the benefit of the Trustees.

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Structure, governance and management

Hawks Road Community Nursery Limited is a company limited by guarantee, and a registered charity. It operates under the name of TIK - TOK and is governed by its Memorandum and Articles of Association. The Memorandum established the objectives and owners of the charitable company

Charity No. 1015045. Company Registration No. 02581092

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

P J Maughan

A C Miller F I Milburn M Nurse R Richardson

Trustees

Hawks Road Community Nursery Limited adheres to the guidelines issued by the Charity Commission for the induction and training of Trustees.

Trustees are elected by the membership at the Annual General Meeting.

All new trustees are given an induction pack detailing the Charity's constitution, strategic plans, recent annual report and accounts and the Charity Commission leaflet - cc3 (a).

Organisational structure

The day to day management of both nurseries is delegated to a fully qualified Manager ,Ms K Harker and Mrs S Siddons, who are supported by nursery staff working both full and part time fitting in with home commitments (family friendly policies). All other decisions are made by agreement of the Trustees at management committee meetings. In house financial systems are in place and are supervised by a qualified member of staff.

TIK-TOK is registered with Gateshead Social Services working closely to the local authority Guidelines. The nursery is inspected on a regular basis by OFSTED.

The registered office of the charity is :- The Boulevard Holmes Drive Gateshead NE10 0DJ

Risk management

The Trustees are aware of their responsibilities under current Charity legalisation, and the need for a robust and creditable risks policy.

Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Systems have been established to ensure that risks are reviewed on a regular basis and findings reported to the Board.

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

.............................. A C Miller Trustee

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Dated: .........................

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY INDEPENDENT EXAMINER'S REPORT

TO THE OF HAWKS ROAD COMMUNITY NURSERY LIMITED

I report to the on my examination of the financial statements of Hawks Road Community Nursery Limited (the ) for the year ended 31 March 2022.

Responsibilities and basis of report

As the of the (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 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 ’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 ’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 , 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:

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.

Rebecca Davison, ACA

12 Bessemer Court, Hownsgill Ind Park Consett Co Durham DH8 7BL

Dated: .........................

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted
Endowment
funds
funds
2022
2022
Notes
£
£		 Unrestricted
Endowment
funds
funds
2022
2022
Notes
£
£		 Unrestricted
Endowment
funds
funds
2022
2022
Notes
£
£		 Total
Unrestricted
Endowment		 Total
Unrestricted
Endowment		 Total
Unrestricted
Endowment		 Total
funds funds funds funds
2022 2022 2022 2021 2021 2021
£ £ £ £ £ £
Income from:
Donations and legacies
3		 142 - 142 - - -
Charitable activities
4		 613,717 - 613,717 560,619 - 560,619
Investments
5		 3,469 - 3,469 5,900 - 5,900
Total income 617,328 - 617,328 566,519 - 566,519
Expenditure on:
Raising funds
6		 396,967 32,760 429,727 415,331 32,760 448,091
Charitable activities
7		 140,160 - 140,160 105,576 - 105,576
Total expenditure 537,127 32,760 569,887 520,907 32,760 553,667
80,201 45,612
Net movement in funds (32,760) 47,441 (32,760) 12,852
Fund balances at 1 April 2021 785,402 668,564 1,453,966 739,790 701,324 1,441,114
Fund balances at 31 March
2022
865,603 635,804 1,501,407 785,402 668,564 1,453,966

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY SUMMARY INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2022

All income funds
2022
£
Gross income
617,328
Total expenditure from income funds
537,127
Net income for the year
80,201		 All income funds
2022
£
Gross income
617,328
Total expenditure from income funds
537,127
Net income for the year
80,201
2022
£
617,328
537,127
80,201		 2021
£
Gross income 566,519
Total expenditure from income funds 520,907
Net income for the year 45,612

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY BALANCE SHEET

AS AT 31 MARCH 2022

Notes 2022 2022 2021 2021
£ £ £ £
Fixed assets
Tangible assets
12
Current assets		 12,639
522,251
534,890
(26,022)		 992,539
508,868
1,501,407		 12,532
431,159
443,691
(20,976)		 1,031,251
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets 422,715
Total assets less current liabilities
1,453,966
Capital funds
Endowment funds - general
15		 635,804
865,603
1,501,407		 668,564
Income funds
Unrestricted funds 785,402
1,453,966

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022.

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 member has 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 on .........................

..............................

A C Miller Trustee

Company registration number 02581092

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2022

Notes
Cash flows from operating activities
Cash generated from operations
18
Investing activities		 2022 2021 £
34,779
5,900
£ £ £
3,469
(1,620)		 89,243
3,469
(1,620)
91,092
431,159
522,251		 5,900
(3,888)
Investment income received
Net cash generated from investing
activities
Financing activities
Payment of obligations under finance leases
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
(3,888)
36,791
394,368
431,159

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

Hawks Road Community Nursery Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The Boulevard, Holmes Drive, Gateshead, Tyne And Wear, NE10 0DJ, England.

1.1 Accounting convention

The financial statements have been prepared in accordance 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)". The is a Public Benefit Entity as defined by FRS 102.

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

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

1.2 Going concern

At the time of approving the financial statements, the have a reasonable expectation that the has adequate resources to continue in operational existence for the foreseeable future. Thus the 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 in furtherance of their charitable objectives.

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

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the .

1.4 Income

Income is recognised when the 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 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 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

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 costs 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.

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

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 2% on cost Plant and equipment 20% on cost and 10% on cost

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 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 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 's balance sheet when the 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.

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the ’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 is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

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

1.12 Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net income/(expenditure) for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2 Critical accounting estimates and judgements

In the application of the ’s accounting policies, the 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 Donations and legacies

Unrestricted Total
funds
2022 2021
£ £
Other 142 -

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

4 Charitable activities

Unrestricted
funds
Unrestricted
funds
2022
2021
£
£
Nursery Fees
596,808
492,202
Sundry Income
16,909
68,417
613,717
560,619		 Unrestricted
funds
Unrestricted
funds
2022
2021
£
£
Nursery Fees
596,808
492,202
Sundry Income
16,909
68,417
613,717
560,619		 Unrestricted
funds
Unrestricted
funds
2022
2021
£
£
Nursery Fees
596,808
492,202
Sundry Income
16,909
68,417
613,717
560,619
2022 2021
£ £
596,808 492,202
16,909 68,417
613,717 560,619

5 Investments

Unrestricted
Unrestricted
funds
funds
2022
2021
£
£		 Unrestricted
Unrestricted
funds
funds
2022
2021
£
£		 Unrestricted
Unrestricted
funds
funds
2022
2021
£
£		 Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
funds funds
2022 2021
£ £
Interest receivable 3,469 5,900
Raising funds
Unrestricted
Endowment
funds
funds
general
2022
2022
£
£
Fundraising and publicity
Depreciation and
impairment
-
32,760
Total
Unrestricted
Endowment		 Total
funds funds
general		 funds funds
general
2022 2022 2022 2021 2021 2021
£ £ £ £ £ £
- 32,760 32,760 - 32,760 32,760
Trading costs
Staff costs 396,967 - 396,967 415,331 - 415,331
396,967 32,760 429,727 415,331 32,760 448,091

6 Raising funds

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

7 Charitable activities

Charitable
expenses
Depreciation
2022
2022
£
£
Depreciation and
impairment
-
5,952
Other operating
leases
4,629
-
Rates and water
5,547
-
Insurance
8,968
-
Light and heat
13,371
-
Telephone
1,291
-
Postage and
stationary
1,866
-
Sundries
17,702
-
Other Costs - Food
10,808
-
Play Materials &
Equipment
4,103
-
Repairs &
Maintenance
16,649
-
Travel
50
-
Bad and doubtful
debts
-
-
Professional Fees
6,010
-
Bank charges
104
-
91,098
5,952
Share of support
costs (see note 8)
43,110
-
134,208
5,952		 Charitable
expenses
Depreciation
2022
2022
£
£
Depreciation and
impairment
-
5,952
Other operating
leases
4,629
-
Rates and water
5,547
-
Insurance
8,968
-
Light and heat
13,371
-
Telephone
1,291
-
Postage and
stationary
1,866
-
Sundries
17,702
-
Other Costs - Food
10,808
-
Play Materials &
Equipment
4,103
-
Repairs &
Maintenance
16,649
-
Travel
50
-
Bad and doubtful
debts
-
-
Professional Fees
6,010
-
Bank charges
104
-
91,098
5,952
Share of support
costs (see note 8)
43,110
-
134,208
5,952		 Charitable
expenses
Depreciation
2022
2022
£
£
Depreciation and
impairment
-
5,952
Other operating
leases
4,629
-
Rates and water
5,547
-
Insurance
8,968
-
Light and heat
13,371
-
Telephone
1,291
-
Postage and
stationary
1,866
-
Sundries
17,702
-
Other Costs - Food
10,808
-
Play Materials &
Equipment
4,103
-
Repairs &
Maintenance
16,649
-
Travel
50
-
Bad and doubtful
debts
-
-
Professional Fees
6,010
-
Bank charges
104
-
91,098
5,952
Share of support
costs (see note 8)
43,110
-
134,208
5,952		 Charitable
expenses
Depreciation
2022
2022
£
£
Depreciation and
impairment
-
5,952
Other operating
leases
4,629
-
Rates and water
5,547
-
Insurance
8,968
-
Light and heat
13,371
-
Telephone
1,291
-
Postage and
stationary
1,866
-
Sundries
17,702
-
Other Costs - Food
10,808
-
Play Materials &
Equipment
4,103
-
Repairs &
Maintenance
16,649
-
Travel
50
-
Bad and doubtful
debts
-
-
Professional Fees
6,010
-
Bank charges
104
-
91,098
5,952
Share of support
costs (see note 8)
43,110
-
134,208
5,952		 Charitable
expenses
Depreciation
2022
2022
£
£
Depreciation and
impairment
-
5,952
Other operating
leases
4,629
-
Rates and water
5,547
-
Insurance
8,968
-
Light and heat
13,371
-
Telephone
1,291
-
Postage and
stationary
1,866
-
Sundries
17,702
-
Other Costs - Food
10,808
-
Play Materials &
Equipment
4,103
-
Repairs &
Maintenance
16,649
-
Travel
50
-
Bad and doubtful
debts
-
-
Professional Fees
6,010
-
Bank charges
104
-
91,098
5,952
Share of support
costs (see note 8)
43,110
-
134,208
5,952		 Total
2022
Charitable
expenses
Depreciation		 Total
2022
Charitable
expenses
Depreciation		 Total
2022
Charitable
expenses
Depreciation		 Total
2021
£
5,952
4,625
3,025
8,228
10,675
1,237
1,866
10,840
6,667
921
10,261
114
2022 2022 2021 2021
£ £ £ £ £
- 5,952 5,952 - 5,952
4,629 - 4,629 4,625 -
5,547 - 5,547 3,025 -
8,968 - 8,968 8,228 -
13,371 - 13,371 10,675 -
1,291 - 1,291 1,237 -
1,866 - 1,866 1,866 -
17,702 - 17,702 10,840 -
10,808 - 10,808 6,667 -
4,103 - 4,103 921 -
16,649 - 16,649 10,261 -
50 - 50 114 -
- -
- - (1,503) (1,503)
6,010 - 6,010 4,503 - 4,503
189
67,600
37,976
105,576
2021
£
36,176
1,800
37,976
37,976
104 - 104 189 -
91,098 5,952 97,050 61,648 5,952
43,110 - 43,110 37,976 -
134,208 5,952 140,160 99,624 5,952
8
Support costs
Staff costs
Accountancy Fees
Analysed between
Charitable activities		 Support
costs
Governance
costs		 2022
Support costs
Governance
costs
£ £ £ £ £
40,060 - 40,060 36,176 -
3,050 - 3,050 1,800 -
43,110 - 43,110 37,976 -
43,110 - 43,110 37,976 -

Governance costs includes payments to the auditors of £3,050 (2021- £1,800) for audit fees.

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

9 Net movement in funds 2022 2021
£ £
Net movement in funds is stated after charging/(crediting)
Depreciation of owned tangible fixed assets 38,712 38,712

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustee' expenses

During the year travelling and other sundry expenses totalling £50 (2021: £114) were reimbursed to one trustee.

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

11 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
Core Staff 2 2
Nursery Staff 26 32
Total 28 34
Employment costs 2022 2021
£ £
Wages and salaries 411,937 424,584
Social security costs 14,877 15,548
Other pension costs 10,213 11,375
437,027 451,507

There were no employees whose annual remuneration was £60,000 or more.

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

12
Tangible fixed assets
Cost
At 1 April 2021
At 31 March 2022
Depreciation and impairment
At 1 April 2021
Depreciation charged in the year
At 31 March 2022
Carrying amount
At 31 March 2022
At 31 March 2021
13
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 Leasehold
land and
buildings		 Plant and
equipment		 Total
£ £ £
1,637,994 56,667 1,694,661
1,637,994 56,667 1,694,661
630,792 32,618 663,410
32,760 5,952 38,712
663,552 38,570 702,122
974,442 18,097 992,539
1,007,202 24,049 1,031,251
2022 2021
£ £
1,395 220
2,116 5,170
9,128 7,142
12,639 12,532
14
Creditors: amounts falling due within one year
Notes
Obligations under finance leases
Trade creditors
Other creditors
Accruals and deferred income		 2022 2021
£ £
- 1,620
1,671 671
18,722 13,895
5,629 4,790
26,022 20,976

Included within accrued expenses is an amount of £1,744 (2021 £2,065) relating to pension commitments. Included within accrued expenses is an amount of £4,510 (2021 £0) relating to PAYE. Included within accrued expenses is an amount of £81 (2021 £0) relating to attachment of earnings. Included within other creditors is an amount of £9,855 (2021 £10,455) relating to incoming resources deferred in the current year. This is a combination of GMBC funding and childcare vouchers received in advance for April 2022 fees.

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

15 Endowment funds

Endowment funds represent assets which must be held permanently by the charitable company. Income arising on the endowment funds can be used in accordance with the objects of the charitable company and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

Movement in funds Movement in funds Movement in funds Movement in funds Movement in funds Movement in funds Movement in funds Movement in funds Movement in funds Movement in funds
Balance at
1 April 2020
r		 Incoming
esources
Resources
expended		 Transfers
Revaluations
gains and
losses
Balance at
1 April 2021
r		 Incoming
esources
Resources
expended		 Transfers
Revaluations
gains and
losses
Balance at
31 March 2022
£ £ £ £ £ £ £ £ £ £ £
-
-		 -
-
701,324 (32,760) - - 668,564 (32,760) - - 635,804
701,324 (32,760) - - 668,564 (32,760) - - 635,804

HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

16
Analysis of net assets between funds		 16
Analysis of net assets between funds		 16
Analysis of net assets between funds
Unrestricted
funds
Endowment
funds
2022
2022
£
£
Fund balances at 31
March 2022 are
represented by:
Tangible assets
356,735
635,804
Current assets/(liabilities)
508,868
-
865,603
635,804		 Total
Unrestricted
funds
Endowment
funds		 Total
2022 2022 2022 2021 2021 2021
£ £ £ £ £ £
356,735 635,804 992,539 362,687 668,564 1,031,251
508,868 - 508,868 422,715 - 422,715
865,603 635,804 1,501,407 785,402 668,564 1,453,966

17 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

18
Cash generated from operations		 18
Cash generated from operations		 2022 2021
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in stocks
(Increase) in debtors
Increase/(decrease) in creditors
Cash generated from operations		 £ £
47,441 12,852
(3,469) (5,900)
38,712 38,712
- 1
(107) (1,348)
6,666 (9,538)
89,243 34,779
19
Analysis of changes in net funds
At 1 April 2021
£
Cash at bank and in hand
431,159
Obligations under finance leases
(1,620)
429,539		 Cash flows
At 31		 March 2022
£ £ £
431,159 91,092 522,251
(1,620) 1,620 -
429,539 92,712 522,251