**Charity Registration No. 1015045**
**Company Registration No. 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 2023**
**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 Industrial Park|
||Knitsley Lane|
||Consett|
||Co Durham|
||DH8 7BL|
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 5|
|Independent examiner's report|6|
|Statement of financial activities|7|
|Summary income and expenditure account|8|
|Balance sheet|9 - 10|
|Statement of cash flows|11|
|Notes to the financial statements|12 - 22|
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)**
_**FOR THE YEAR ENDED 31 MARCH 2023**_
The Trustees present their report and financial statements for the year ended 31 March 2023.
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.
- 1 -
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **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”.
## **OVERVIEW**
The year has seen successful operations at the nursery with a complete return to normal activities very much in evidence. Hence the nursery is in a strong position to manage future operations.
During the year we continued with a policy of upgrading and refurbishing the nursery on a strategic basis. This has included improvements to both internal playroom and the external areas where considerable capital expenditure has enhanced them greatly.
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.
In the meantime the numbers of children attending remains healthy with a constant demand for places, partially due to other local nurseries having been closed.
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.
- 2 -
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **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 65:35 split.
## _Financial Position_
Net incoming resources increased by £30,433 on Unrestricted funds to £896,036, whilst endowment Funds have reduced by £32,760 to £603,044. Net current assets at 31 March 2023 amounted to £501,590.
## _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 2023 is £896,036.
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 2023, 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.
## **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
- 3 -
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
The trustees who are also the directors for the purpose of company law, 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, who is 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
- 4 -
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **Dated: 7 August 2023**
- 5 -
**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 Charity) for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of 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 that in any material respect:
- 1 accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Rebecca Davison ACA
12 Bessemer Court Hownsgill Industrial Park Knitsley Lane Consett Co Durham DH8 7BL
Dated: 7 August 2023
- 6 -
## **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 2023**_
|**Unrestricted Endowment**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
-
-
Charitable activities
**3**
544,412
-
Investments
**4**
9,122
-
**Total income**
553,534
-
**Expenditure on:**
Raising funds
**5**
377,493
32,760
Charitable activities
**6**
145,608
-
**Total resources**
**expended**
523,101
32,760
**Net movement in funds**
30,433
(32,760)
Fund balances at 1 April
2022
865,603
635,804
**Fund balances at 31**
**March 2023**
896,036
603,044|**Total** Unrestricted Endowment
funds
funds
**2023**
2022
2022
**£**
**£**
**£**
-
142
-
544,412
613,717
-
9,122
3,469
-
553,534
617,328
-
410,253
396,967
32,760
145,608
140,160
-
555,861
537,127
32,760
(2,327)
80,201
(32,760)
1,501,407
785,402
668,564
1,499,080
865,603
635,804|Total
2022
**£**
142
613,717
3,469|
|---|---|---|
|||617,328|
|||429,727|
|||140,160|
|||569,887|
|||47,441
1,453,966|
|||1,501,407|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 7 -
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY SUMMARY INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
|**All income funds**
**2023**
**£**
Gross income
**553,534**
Total expenditure from income funds
**523,101**
**Net income for the year**
**30,433**|2022
£
617,328
537,127|
|---|---|
||80,201|
- 8 -
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY BALANCE SHEET**
## _**AS AT 31 MARCH 2023**_
|**Notes**
**Fixed assets**
Tangible assets
**11**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
Net current assets
**Total assets less current liabilities**
**Capital funds**
Endowment funds - general
**14**
**Income funds**
Unrestricted funds|**2023**
**£**
**£**
997,490
10,778
531,417
542,195
(40,605)
501,590
1,499,080
603,044
896,036
1,499,080|**2022**
**£**
**£**
992,539
12,639
522,251
534,890
(26,022)
508,868
1,501,407
635,804
865,603
1,501,407|**2022**
**£**
**£**
992,539
12,639
522,251
534,890
(26,022)
508,868
1,501,407
635,804
865,603
1,501,407|
|---|---|---|---|
||||1,501,407|
||||635,804
865,603|
||||1,501,407|
- 9 -
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY BALANCE SHEET (CONTINUED)**
_**AS AT 31 MARCH 2023**_
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 2023.
The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
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 7 August 2023
A C Miller
## **Trustee**
## **Company Registration No. 02581092**
- 10 -
## **HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY STATEMENT OF CASH FLOWS**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
|**Notes**
**Cash flows from operating activities**
Cash generated from operations
**17**
**Investing activities**
Purchase of tangible fixed assets
Investment income received
**Net cash (used in)/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**|**2023**
**£**
(44,321)
9,122
-|**£**
44,365
(35,199)
-
9,166
522,251
531,417|**2022**
**£**
-
3,469
(1,620)|**£**
89,243
3,469
(1,620)
91,092
431,159
522,251|
|---|---|---|---|---|
- 11 -
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS**
_**FOR THE YEAR ENDED 31 MARCH 2023**_
## **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 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, 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 Charity 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 Charity.
## **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.
- 12 -
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
_**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **(Continued)**
## **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.
## **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 and 10% 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 net income/(expenditure) for the year.
## **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.
- 13 -
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
_**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **(Continued)**
## _**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.
## _**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.
## **1.11 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **2 Donations and legacies**
||**Total**|Unrestricted|
|---|---|---|
|||funds|
||**2023**|2022|
||**£**|£|
|Other|-|142|
- 14 -
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **3 Charitable activities**
||**Unrestricted**|
**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2023**|**2022**|
||**£**|**£**|
|Nursery Fees|538,111|596,808|
|Sundry Income|6,301|16,909|
||544,412|613,717|
## **4 Investments**
|Interest receivable
**Raising funds**
**Unrestricted Endowment**
**funds**
**funds**
**general**
**2023**
**2023**
**£**
**£**
Fundraising and publicity
Depreciation and
impairment
-
32,760
Trading costs
Staff costs
377,493
-
377,493
32,760|**Unrestricted** Unrestricted
**funds**
funds
**2023**
2022
**£**
£
9,122
3,469
**Total** Unrestricted Endowment
Total
funds
funds
general
**2023**
2022
2022
2022
**£**
£
£
£
32,760
-
32,760
32,760
377,493
396,967
-
396,967
410,253
396,967
32,760
429,727|**Unrestricted** Unrestricted
**funds**
funds
**2023**
2022
**£**
£
9,122
3,469
**Total** Unrestricted Endowment
Total
funds
funds
general
**2023**
2022
2022
2022
**£**
£
£
£
32,760
-
32,760
32,760
377,493
396,967
-
396,967
410,253
396,967
32,760
429,727|
|---|---|---|
|||Total
2022
£
32,760|
|||396,967|
|||429,727|
## **5 Raising funds**
- 15 -
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **6 Charitable activities**
|**Charitable**
**expenses**
**Depreciation**
**2023**
**2023**
**£**
**£**
Depreciation and
impairment
-
6,610
Other operating
leases
230
-
Rates and water
7,277
-
Insurance
7,914
-
Light and heat
11,084
-
Telephone
961
-
Postage and
stationary
1,619
-
Sundries
16,774
-
Other Costs - Food
10,791
-
Play Materials &
Equipment
8,426
-
Repairs &
Maintenance
26,011
-
Travel
-
-
Professional Fees
6,146
-
Bank charges
254
-
97,487
6,610
Share of support
costs (see note 7)
39,303
-
Share of governance
costs (see note 7)
2,208
-
138,998
6,610|**Total**
**2023**
**Charitable**
**expenses**
**Depreciation**
**2022**
**2022**
**£**
**£**
**£**
6,610
-
5,952
230
4,629
-
7,277
5,547
-
7,914
8,968
-
11,084
13,371
-
961
1,291
-
1,619
1,866
-
16,774
17,702
-
10,791
10,808
-
8,426
4,103
-
26,011
16,649
-
-
50
-
6,146
6,010
-
254
104
-
104,097
91,098
5,952
39,303
40,060
-
2,208
3,050
-
145,608
134,208
5,952|**Total**
**2022**
**£**
5,952
4,629
5,547
8,968
13,371
1,291
1,866
17,702
10,808
4,103
16,649
50
6,010
104|
|---|---|---|
|||97,050
40,060
3,050|
|||140,160|
- 16 -
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
|**7**
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Staff costs
39,303
-
Professional Fees
-
2,208
39,303
2,208
Analysed between
Charitable activities
39,303
2,208|**2023**Support costs Governance
costs
**£**
£
£
39,303
40,060
-
2,208
-
3,050
41,511
40,060
3,050
41,511
40,060
3,050|2022
£
40,060
3,050|
|---|---|---|
|||43,110|
|||43,110|
Governance costs includes fees for Independent Examination of the accounts of £2,208 (2022- £2,208).
|**8**|**Net movement in funds**|**2023**|**2022**|
|---|---|---|---|
|||**£**|**£**|
||Net movement in funds is stated after charging/(crediting)|||
||Depreciation of owned tangible fixed assets|39,370|38,712|
## 9 **Trustees' Remuneration and Benefits**
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **Trustee' expenses**
During the year there were no travelling and other sundry expenses reimbursed (2022: £50).
- 17 -
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **10 Employees**
The average monthly number of employees during the year was:
|Core Staff
Nursery Staff
Total
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2023**
**Number**
2
24
26
**2023**
**£**
391,309
17,198
8,289
416,796|**2022**
**Number**
2
26|
|---|---|---|
|||28|
|||**2022**
**£**
411,937
14,877
10,213|
|||437,027|
There were no employees whose annual remuneration was £60,000 or more.
- 18 -
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
|**11**
**Tangible fixed assets**
**Leasehold land**
**and buildings**
**£**
**Cost**
At 1 April 2022
1,637,994
Additions
44,321
At 31 March 2023
1,682,315
**Depreciation and impairment**
At 1 April 2022
663,552
Depreciation charged in the year
34,791
At 31 March 2023
698,343
**Carrying amount**
At 31 March 2023
983,972
At 31 March 2022
974,442
**12**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income|**Plant and**
**equipment**
**£**
56,667
-
56,667
38,570
4,579
43,149
13,518
18,097
**2023**
**£**
-
4,131
6,647
10,778|**Total**
**£**
1,694,661
44,321|
|---|---|---|
|||1,738,982|
|||702,122
39,370|
|||741,492|
|||997,490|
|||992,539|
|||**2022**
**£**
1,395
2,116
9,128|
|||12,639|
- 19 -
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **13 Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**|||
|---|---|---|
|Trade creditors
Other creditors
Accruals and deferred income|**2023**
**£**
2,783
35,034
2,788
40,605|**2022**
**£**
1,671
18,722
5,629|
|||26,022|
Included within accrued expenses is an amount of £1,474 (2022 £1,744) relating to pension commitments. Included within accrued expenses is an amount of £3,480 (2022 £4,510) relating to PAYE. Included within other creditors is an amount of £27,606 (2022 £9,855) relating to incoming resources deferred in the current year. This is a combination of GMBC funding and childcare vouchers received in advance for April 2023 fees.
- 20 -
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **14 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.
|**Balance at**
**1 April 2021**
**£**
668,564
-
668,564|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**Revaluations**
**gains and losses**
**Balance at**
**1 April 2022**
**£**
**£**
**£**
**£**
**£**
-
(32,760)
-
-
635,804
-
(32,760)
-
-
635,804|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**Revaluations**
**gains and losses**
**Balance at**
**31 March 2023**
**£**
**£**
**£**
**£**
**£**
-
(32,760)
-
-
603,044
-
(32,760)
-
-
603,044|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**Revaluations**
**gains and losses**
**Balance at**
**31 March 2023**
**£**
**£**
**£**
**£**
**£**
-
(32,760)
-
-
603,044
-
(32,760)
-
-
603,044|
|---|---|---|---|
||||603,044|
- 21 -
**HAWKS ROAD COMMUNITY NURSERY LIMITED T/A TIK-TOK NURSERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **15 Analysis of net assets between funds**
|**Unrestricted**
**funds**
**Endowment**
**funds**
**2023**
**2023**
**£**
**£**
Fund balances at 31
March 2023 are
represented by:
Tangible assets
394,446
603,044
Current
assets/(liabilities)
501,590
-
896,036
603,044|**Total** Unrestricted
funds
Endowment
funds
**2023**
2022
2022
**£**
£
£
997,490
356,735
635,804
501,590
508,868
-
1,499,080
865,603
635,804|Total
2022
£
992,539
508,868|
|---|---|---|
|||1,501,407|
## **16 Related party transactions**
There were no disclosable related party transactions during the year (2022 - none).
## **17 Cash generated from operations**
|**Cash generated from operations**
(Deficit)/surpus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in debtors
Increase in creditors
**Cash generated from operations**|**2023**
**£**
(2,327)
(9,122)
39,370
1,861
14,583
44,365|**2022**
**£**
47,441
(3,469)
38,712
(107)
6,666|
|---|---|---|
|||89,243|
## 18 **Analysis of changes in net funds**
The Charity had no debt during the year.
- 22 -