OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

CHARITY NUMBER: 1020319

COMPANY NUMBER: 2324172

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2021

For

HIGHBURY COMMUNITY NURSERY

(a company limited by guarantee not having share capital and a registered charity)

HIGHBURY COMMUNITY NURSERY (A COMPANY LIMITED BY GUARANTEE)

CONTENTS

Page
Legal and Administrative Details 1
Trustees’ Report 2
Report of the Independent Examiner 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9

HIGHBURY COMMUNITY NURSERY

(A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE DETAILS

PRINCIPAL OFFICE 15 Aubert Park London N5 1TL CHARITY NUMBER 1020319 COMPANY NUMBER 2324172

The following Committee Members served during the year unless otherwise indicated:

MANAGEMENT COMMITTEE MEMBERS (TRUSTEES AND DIRECTORS)

Geir Freysson (Chair person)
Nadja Alim (Vice chair) - resigned November 2020
Committee Members
Martino Piemontese (Treasurer) - resigned November 2020
Adam Painter (Treasurer) - appointed March 2021
Aisling Morman (Company Secretary)
Raquel Drummond (Premises Director)
Victoria Cowell (Parent Participation)
Fiona Shaw (Parent Participation) - appointed November 2020
Janice O’Neil (Fundraising) - resigned November 2020
Katarzyna Foye (Fundraising) - resigned November 2020
Khush Sinha (Fundraising) - appointed November 2020
Veronika Ilinskaya
 (Garden Maintenance) - resigned November 2020
Janina Ketterer (Garden Maintenance) - appointed November 2020
Maxine Clay (Educational Advisor)
After the year end the following directors After the year end the following directors were appointed:
resigned:
Victoria Cowell resigned November 2021 Julian Triverio (Treasurer) appointed November 2021
Adam Painter resigned November 2021 Tameka Small (Company
appointed November 2021
secretary)
Aisling Morman resigned November 2021 Samantha (Premises) appointed November 2021
Cheong
Raquel Drummond resigned November 2021

Management Committee members are directors of the company for the purposes of the Companies Act 2006 and trustees for the purposes of the Charities Act 2011.

KEY MANAGEMENT
Ann Reid Nursery Manager
Noelle O’Boyce Financial Manager
Catherine Antink Family Liaison Coordinator
Joanne English Nursey Administrator
INDEPENDENT EXAMINER Francis Corbishley
Moore Northern Home Counties Limited,
First Floor,
73-75 High Street,
Stevenage
BANKERS CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill, West Malling
Kent ME19 4JQ

Page 1

HIGHBURY COMMUNITY NURSERY (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT

YEAR ENDED 31 MARCH 2021

The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ending 31 March 2021 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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).

STATUS AND GOVERNING DOCUMENT

Highbury Community Nursery is a registered charity (number 1020319) and a company limited by guarantee without share capital (company number 2324172).

The Nursery is governed by its memorandum and articles of association dated 1 December 1988 amended by special resolution passed 22 December 1992.

OBJECT OF THE CHARITY/PUBLIC BENEFIT

The object of Highbury Community Nursery is:

The trustees have referred to the Charity Commission’s general guidance on public benefit when reviewing its aim and objectives and in planning of future activities.

ORGANISATION

Management of Highbury Community Nursery is the responsibility of the Trustees, who are the directors toGeneral Meeting. The Management Committee meets at least six times a year.

REVIEW OF ACTIVITIES AND FUTURE DEVELOPMENTS

Children

This year has been a somewhat different year due to the global pandemic, which has affected both income and attendance.

We had to restrict our usual exciting adventures this year but hope to return to activities and outings as soon as we are allowed. We did manage to have sports sessions from September as they were outdoors,

Staff/students/training

This year we have said goodbye to a few wonderful staff, we wish them all the very best for the future, we have also welcomed some new vibrant and creative staff who are bringing new activities and sunshine to the nursery.

The staff have attended lots of fabulous training especially over the reduced staff time from March to June, staff managed to complete many sessions as well as updating their knowledge in various areas of

Page 2

HIGHBURY COMMUNITY NURSERY (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT

YEAR ENDED 31 MARCH 2021

early years including safeguarding and planning in the moment training. Staff are continuing to further educate themselves completing educational programmes as well as qualifications. Congratulations to the staff who successfully completed their courses. We will continue to have INSET days which provide both teams building and excellent training.

Achievements

We managed to get through the peak of Covid, staying open to keyworkers and eventually reopening our doors to everyone, we did furlough some staff but continued to pay the majority of the staff throughout Covid.

We continue to use ITERS/ECERS and to ensure we monitor our environment. This continues to influence positive changes on daily practice.

FINANCIAL REVIEW

The principal financial objective for the year continues to be to provide a consistent and high standard of care for the children at our nursery at a reasonable cost, maintaining prudent reserves and managing resources to benefit our community.

Covid-19 significantly affected the nursery’s income in the year. The nursery was only open to families of keyworkers, therefore the income for April 2020 and May 2020 was significantly lower, with income of c£10,000 per month compared to a normal level of c.£60,000 per month. During this period the nursery claimed some of the wages costs via the Coronavirus Job Retention (furlough) scheme and funding of £12,000 was received from the London Borough of Islington to cover income losses. There were cost savings in respect of reduced food and milk costs and resources orders due to the lower number of children in attendance. Once restrictions were lifted the nursery was able to offer more places. However, it took until September 2020 for income to return to pre-covid levels but remained affected due to bubble closures. The nursery has sufficient reserves to cover the losses but has deferred its planned building development works.

As a consequence of Covid-19 in 2020/21 the nursery’s outgoing resources exceeded incoming resources, generating a deficit of £221,865 (2019/20; £11,234).

Total expended resources were similar to the prior year at £1,012,078 (2019/20; £1,011,940).

Staff costs make up the majority of the nursery’s expenses. The nursery continues to pay the London Living wage to all qualified staff, as well as running a pension plan. The nursery maintained the required levels of staffing through the year. Staff costs rose by 6% compared to the prior year (2019/20: 20%).

Total incoming resources (excluding bank interest received) decreased by 26% compared to last year (2019/20 increased by 9%). As explained above Covid-19 significantly affected the Nursery’s income. Fee increases are determined by Islington Council each year. The mix of children attending the nursery also affects how the income varies.

The nursery continues to benefit from Islington Council’s support through grants of £225,728 in the year (2019/20; £210,454).

The depreciation policy of capitalised building works is considered to be prudent and is held in a designated fund 2020/21; £268,887, (2019/20; £286,088).

RESERVES POLICY

In line with the Charities’ Commission’s recommendations for nurseries, the nursery maintained £774,468 of free reserves as at 31 March 2021. This amount exceeds nine months’ average operating expenses.

Page 3

HIGHBURY COMMUNITY NURSERY (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT

YEAR ENDED 31 MARCH 2021

PRINCIPAL RISKS AND UNCERTAINTIES FACING THE CHARITY

The board meet 11 times a year and regularly accesses risk. It maintains a Risk Register covering financial, health and safety, resourcing, and legal risks.

DECISION MAKING

The nursery management and committee regularly solicit and review suggestions from parents and staff for projects with a beneficial and lasting impact on the nursery which are discussed in the regular trustee meetings.

FUNDRAISING

The Nursery and its Management Committee are very pleased with fundraising efforts during the year. These were completed by Management and Development Committee members and were thus at no cost to the Nursery.

INVESTMENT POLICY

Investments are held in accordance with the Trustees’ powers, which enable them to invest monies not required immediately for Highbury Community Nursery charitable objectives, as may be thought fit subject to any conditions required by law. The Trustees’ investment policy is to select investments on a prudent and cautious basis, as these funds are required for the working capital for running the nursery.

The nursery benefits, as do individual and small companies, from the government’s guarantee protection scheme of up to £85,000 per bank. The nursery currently holds a significant amount with one single bank and will review the benefits of diversifying its investment holdings to a number of banks in light of operational efficiency.

TRUSTEES’ APPOINTMENT

Trustees are elected on an annual basis at the AGM. Trustees are select based on the relevant experience they have for the task they are appointed for. With the exception of the trustee who provides specialist educational and curriculum experience all trustees are parents of children attending the nursery.

TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The charity trustees (who are also the directors of the charity or the purposes of company law) are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing the financial statements, the trustees are required to:

Page 4

HIGHBURY COMMUNITY NURSERY

(A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT

YEAR ENDED 31 MARCH 2021

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement as to disclosure to our Independent Examiner

In so far as the trustees are aware at the time of approving our trustees’ annual report:

APPROVAL

This report was approved by the Trustees on 31 January 2021 and by order of the Trustees, signed on their behalf, by:

Geir Freysson (Feb 1, 2022, 4:12pm) Geir Freysson Chair

~~Julian Triverio~~ julien.triverio (Feb 1, 2022, 4:37pm) Treasurer

Page 5

HIGHBURY COMMUNITY NURSERY

(A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HIGHBURY COMMUNITY NURSERY

YEAR ENDED 31 MARCH 2021

I report to the trustees on my examination of the financial statements of Highbury Community Nursery (the charity) for the year ended 31 March 2021.

Responsibilities and basis of report

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

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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.

F J Corbishle y

~~Francis Corbishley~~ Francis Corbishley (Feb 1, 2022, 4:40pm) Independent Examiner Moore Northern Home Counties Limited First Floor 73-75 High Street Stevenage Hertfordshire SG1 3HR

Dated: 01 Feb 2022

Page 6

HIGHBURY COMMUNITY NURSERY

(A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITY YEAR ENDED 31 MARCH 2021

Notes
INCOME
Donations
3
Charitable activities
Grants received
4
Fees charged
Investment income
TOTAL INCOME
EXPENDITURE
6
Cost of charitable activities
TOTAL EXPENDITURE
NET
INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Funds bought forward at 1 April
2020
TOTAL FUNDS BALANCE
CARRIED FORWARD AT
31 MARCH 2021		 2021
Unrestricted
Funds
£
673
171,962
525,484
(644)
697,475
920,047
920,047
(222,572)
997,040
774,468		 2021
Restricted
Funds
£
-
92,738
-
-
92,738
92,031
92,031
707
611
1,318		 2021
Total
£
673
264,700
525,484
(644)
790,213
1,012,078
1,012,078
(221,865)
997,651
775,786		 2020
Total
£
1,424
213,254
782,103
3,925
1,000,706
1,011,940
1,011,940
(11,234)
1,008,885
997,651

There were no recognised gains or losses for 2021 or 2020 other than those included in the Statement of Financial Activities. All income and expenditure derive from continuing activities.

The notes on pages 9 to 17 form part of these financial statements.

Page 7

HIGHBURY COMMUNITY NURSERY

(A COMPANY LIMITED BY GUARANTEE)

Company Number: 02324172

BALANCE SHEET 31 MARCH 2021

Notes
FIXED ASSETS
Tangible assets
8
CURRENT ASSETS
Debtors
9
Cash at bank and in hand
CREDITORS: amounts
falling due within one
year
10
NET CURRENT
ASSETS
NET ASSETS
FUNDS
General Fund
Designated Fund
12
Restricted Funds
11
TOTAL FUNDS
12		 £
22,319
598,978
621,297
114,398		 2021
£
268,887
506,899
775,786
505,581
268,887
1,318
775,786		 £
17,785
801,811
819,596
108,033		 2020
£
286,088
711,563
997,651
710,952
286,088
611
997,651

For the year ending 31 March 2021, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the special provisions applicable to small companies subject to the small companies regime and in accordance with FRS 102 SORP

Approved by the Trustees on 31 January 2022 and signed on their behalf:

Geir Freysson Geir Freysson (Feb 1, 2022, 4:12pm) julien.triverio (Feb 1, 2022, 4:37pm) ~~Julian Triverio~~ Chair Treasurer

The notes on pages 9 to 17 form part of these financial statements.

Page 8

HIGHBURY COMMUNITY NURSERY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2021

___________

1. ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of preparation

The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Highbury Community Nursery meets the definition of a public interest entity under FRS102.

The financial statements have been prepared in sterling which is the functional currency of the charity.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

b) Preparation of the accounts on a going concern basis

In the opinion of the trustees the charity remains a going concern. Whilst the effect of the Coronavirus and lockdown had a significant impact on the charity’s income it has returned to pre-pandemic levels. This combined with healthy general fund reserves gives the trustees confidence about the charity’s future and accordingly the financial statements have been prepared on a going concern basis.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance is deferred until the criteria for income recognition are met.

d) Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably.

Page 9

HIGHBURY COMMUNITY NURSERY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2021

___________ On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

f) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are grants and donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

g) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity’s activities.

These costs have been allocated between cost of raising funds and expenditure on charitable activities.

i) Operating leases

The charity had one operating leases in the year which was in respect of its photocopier

j) Tangible fixed assets

Individual fixed assets costing are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Page 10

HIGHBURY COMMUNITY NURSERY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2021

___________

Asset Category

The rates used during the year were as follows:

Office equipment - 25% straight line Building improvements - lower of the estimated useful life and the remaining term of the lease, and no longer than 20 years

The lease on 15 Aubert Park runs to 2038.

k) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

l) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

m) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

n) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

o) Judgements and key sources of estimation uncertainty Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 8 for the carrying amount of the plant and equipment and note 1.j for the useful economic lives for each class of assets.

Contributions in kind

The value of the contributions in kind are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market.

Page 11

HIGHBURY COMMUNITY NURSERY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2021

___________ There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

p) Employee benefits

2. LEGAL STATUS OF THE CHARITY

The charity is a company limited by guarantee and has no share capital.

3. GRANTS, DONATIONS AND SIMILAR INCOMING RESOURCES

Unrestricted
Fund
2021
£
Income from fundraising events
523
Donations
150
673		 Restricted
Fund
2021
£
-
-
-		 Total
2021
£
523
150
673		 Total
2020
£
564
860
1,424

In 2020 all income from fundraising was attributed to the general fund

4. GRANTS RECEIVED IN RESPECT OF CHARITABLE ACTIVITIES

Unrestricted Fund
Restricted
Fund
2021
2021
£
£
London Borough of Islington
Main Grant
-
35,252
Nursery Education Grant over 3’s
132,990
-
Rebate Grant
-
12,597
Two year old grants
-
26,469
Maternity Grant
-
-
Other LBI Grants
-
18,420
London Metropolitan University
-
-
Coronavirus Job Retention Scheme
38,972
-
171,962
92,738		 Total
2021
£
35,252
132,990
12,597
26,469
-
18,420
-
38,972
264,700		 Total
2020
£
42,601
143,224
8,271
3,240
9,803
3,315
2,800
213,254

In 2020 £146,024 of grant income was attributed to the general fund and £67,230 to the restricted fund.

Page 12

HIGHBURY COMMUNITY NURSERY

(A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2021

___________

5. WAGES AND SALARIES

Employee costs were as follows:
Salaries
Employers National Insurance
Employers Pension Contribution		 2021
£
763.486
15,217
58,527
837,230		 2020
£
720,366
54,548
13,541
788,455

The average number of employees during the year was 35 (2020: 35).

There were no employees with emoluments above £60,000.

The key management personnel comprise the trustees, the nursery manager, the financial manager, the family liaison co-ordinator and the nursery administrator. The total employee benefits of the key management personnel of the charity were £146,451 (2020: £122,012).

The charity trustees were not paid, did not received any other benefits from employment nor payment of expenses from the charity in the year (2020: £nil).

6. ANALYSIS OF EXPENDITURE

Staff costs including, recruitment,
training & welfare
Care and Education costs
Office costs
Professional fees
Premises costs
Restricted Project Costs
Depreciation
Support costs
Governance costs		 2021
£
Cost of
Funds
raising
-
-
-
-
-
-
-
-
-
-
 2021
£
Cost of
Charitable
activities
841,402
37,805
44,550
316
48,997
712
28,701
7,435
2,160
1,012,078		 2021
£
Total
841,402
37,805
44,550
316
48,997
712
28,701
7,435
2,160
1,012,078		 2020
£
Total
808,493
86,638
45,418
1,849
24,969
2,704
27,229
6,840
7,800
1,011,940

Further detail in respect of the expenditure for the year is at Note 16.

Page 13

HIGHBURY COMMUNITY NURSERY

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2021

___________

7. ANALYSIS OF SUPPORT AND GOVERNANCE COSTS

Support Costs
Governance
costs
£
£
Auditors fees
-
-
Independent Examination
-
2,160
Payroll and accounting services
7,435
-
7,435
2,160
8. TANGIBLE FIXED ASSETS
Building
Development
Works & Soft
Play Area
COST
£
At 1 April 2020
913,074
Additions in period
10,033
At 31 March 2021
923,107
DEPRECIATION
At 1 April 2020
657,364
Provision in period
15,632
At 31 March 2021
672,996
Net book value at 31 March 2021
250,111
Net book value at 31 March 2020
255,710
9.DEBTORS
Prepayments
Nursery fees
Other		 Support Costs
Governance
costs
£
£
Auditors fees
-
-
Independent Examination
-
2,160
Payroll and accounting services
7,435
-
7,435
2,160
8. TANGIBLE FIXED ASSETS
Building
Development
Works & Soft
Play Area
COST
£
At 1 April 2020
913,074
Additions in period
10,033
At 31 March 2021
923,107
DEPRECIATION
At 1 April 2020
657,364
Provision in period
15,632
At 31 March 2021
672,996
Net book value at 31 March 2021
250,111
Net book value at 31 March 2020
255,710
9.DEBTORS
Prepayments
Nursery fees
Other
2021
Total
£
-
2,160
7,435
9,595
Furniture
&
Equipment
£
88,348
1,467
89,815
57,970
13,069
71,039
18,776
30,378
2021
£
2,862
19,078
379
22,319		 2020
Total
£
7,800
-
6,840
14,640
Total
£
1,001,422
11,500
1,012,922
715,334
28,701
744,035
268,887
286,088
2020
£
921
16,227
637
923,107
657,364
15,632
672,996
250,111
255,710
17,785

Page 14

HIGHBURY COMMUNITY NURSERY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2021

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Social Security
Trade creditors
Other creditors
Fees paid in advance
Parents’ deposits
Accruals		 2021
£
15,276
-
5,552
4,043
68,597
20,930
114,398		 2020
£
13,191
2,640
10,738
8,060
62,064
11,340
108,033

11. RESTRICTED FUNDS


London Borough of Islington
Main Grant
Rebate Grant
Two year old grants
Other LBI Grants
Total
London Borough of Islington
Main Grant
Rebate Grant
Two year old grants
Maternity Grant
Other LBI Grants
Total		 Balance at
1 April
2020
£
-
-
-
611
611
Balance at
1 April
2019
£
-
-
-
-
-
-		 Movement of Funds
Resources
Resources
Arising
Used
£
£
35,252
(35,252)
12,597
(12,597)
26,469
(26,469)
18,420
(17,713)
92,738
(92,031)
Movement of Funds
Resources
Resources
Arising
Used
£
£
42,601
(42,601)
8,271
(8,271)
3,240
(3,240)
9,803
(9,803)
3,315
(2,704)
67,230
(66,619)		 Balance at
31 March
2021
£
-
-
-
1,318
1,318
Balance at
31 March
2020
£
-
-
-
-
611
611

Name of restricted fund

London Borough of Islington Main Grant

Rebate Grant

Description, nature and purposes of the fund

Page 15

HIGHBURY COMMUNITY NURSERY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2021

___________

12. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible Fixed
Net current
Assets
Assets
2021
2021
£
£
Unrestricted Funds
-
505,581
Designated Funds
268,887
-
Restricted Funds
-
1,318
Total
268,887
506,899		 Total
2021
£
505,581
268,887
1,318
775,786		 Total
2020
£
710,952
286,088
611
997,651

A transfer of £17,202 (2020: £57,605) was made from designated funds to unrestricted funds (2020: from the unrestricted funds to the designated funds) to cover funds for fixed assets depreciation & costs incurred in the year. Tangible fixed assets are held in a designated fund, this enables the charity to give a fair view of its free reserves/general funds.

13. TAXATION

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

14. RELATED PARTY TRANSACTIONS

The trustees did not receive remuneration in the year.

Trustees must be parents of the Nursery under the constitution. As parents the trustees paid fees in respect of their children. These fees are calculated in the same way as for other parents. No amounts were written off in respect of these fees due to non-payment or for any other reason.

15. COMMITMENTS

At 31 March 2021 the company had commitments under non-cancellable operating leases as follows:

Operating leases:
Within one year
Within two to five years		 2021
£
11,540
15,939
27,479		 2020
£
11,543
27,479
39,019

Page 16

HIGHBURY COMMUNITY NURSERY

(A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

___________ 16. DETAILED EXPENDITURE IN YEAR

Staff costs including training & welfare
Salary costs
Staff pension
Staff Training & welfare
Recruitment
Care and Education costs
Food and Milk
Curriculum & books
Toys and Learning Materials
Travel and Outings
Office costs
Subscriptions
Telephone
Postage and stationery
Office equipment & software
Web design
Bank charges
Insurance
General expenses
Professional fees
Legal fees
Premises costs
Covid costs
Repairs, renewals and maintenance
Cleaning
Heat and light
Water
Fundraising
Depreciation
Restricted Project Costs
Support costs
Management accounts
Staff admin costs
Governance costs
Independent Examination
Auditors fees		 2021
£
£
822,013
15,217
4,030
142
841,402
27,234
1,577
8,834
160
37,805
2,569
12,298
1,481
23,673
-
3,426
510
593
44,550
316
3,757
8,690
25,938
8,075
2,537
48,997
28,701
712
4,445
2,990
7,435
2,160
-
2,160
1,012,078		 2020
£
£
774,915
13,541
13,106
6,931
808,493
38,749
6,490
35,100
6,299
86,638
3,328
6,423
1,904
28,341
2,759
1,792
508
363
45,418
1,849
4,648
11,381
7,005
1,935
24,969
27,229
2,704
4,260
2,580
6,840
-
7,800
7,800
1,011,940		 2020
£
£
774,915
13,541
13,106
6,931
808,493
38,749
6,490
35,100
6,299
86,638
3,328
6,423
1,904
28,341
2,759
1,792
508
363
45,418
1,849
4,648
11,381
7,005
1,935
24,969
27,229
2,704
4,260
2,580
6,840
-
7,800
7,800
1,011,940
27,234
1,577
8,834
160		 38,749
6,490
35,100
6,299
2,569
12,298
1,481
23,673
-
3,426
510
593		 3,328
6,423
1,904
28,341
2,759
1,792
508
363
3,757
8,690
25,938
8,075
2,537		 4,648
11,381
7,005
1,935
4,445
2,990		 4,260
2,580
2,160
-		 -
7,800
1,011,940

Page 17

Issuer

Moore Northern Home Counties Limited

Document generated Mon, 31st Jan 2022 11:39:28 UTC

Document fingerprint e10ae6e154f1c353b20dd5c59acfeaf6

Parties involved with this document

Document processed

Party + Fingerprint

Tue, 1st Feb 2022 16:12:12 UTC Tue, 1st Feb 2022 16:37:35 UTC Tue, 1st Feb 2022 16:40:53 UTC

Geir Freysson - Signer (106c027f6eabb69e236a3b1813b69862) julien.triverio - Signer (8d045509856996956b93a352d4b5691a) Francis Corbishley - Signer (33a127a7ae44e810ddeb068a166937d2)

Audit history log

Date

Action

Tue, 1st Feb 2022 16:40:53 UTC Tue, 1st Feb 2022 16:40:53 UTC Tue, 1st Feb 2022 16:40:14 UTC Tue, 1st Feb 2022 16:37:35 UTC Tue, 1st Feb 2022 16:37:35 UTC

Tue, 1st Feb 2022 16:37:35 UTC Tue, 1st Feb 2022 16:36:49 UTC Tue, 1st Feb 2022 16:33:37 UTC Tue, 1st Feb 2022 16:33:29 UTC Tue, 1st Feb 2022 16:33:19 UTC Tue, 1st Feb 2022 16:12:40 UTC Tue, 1st Feb 2022 16:12:13 UTC Tue, 1st Feb 2022 16:12:12 UTC

Tue, 1st Feb 2022 16:12:12 UTC Tue, 1st Feb 2022 16:09:34 UTC Tue, 1st Feb 2022 16:09:20 UTC Tue, 1st Feb 2022 12:13:22 UTC

The envelope has been signed by all parties. (83.219.51.124) Francis Corbishley signed the envelope. (83.219.51.124) Francis Corbishley viewed the envelope. (83.219.51.124) Document emailed to francis.corbishley@moorenhc.co.uk (18.134.9.53) Sent the envelope to Francis Corbishley (francis.corbishley@moorenhc.co.uk) for signing. (78.110.164.38) julien.triverio signed the envelope. (78.110.164.38) julien.triverio viewed the envelope. (78.110.164.38) julien.triverio viewed the envelope. (78.110.164.38)

julien.triverio opened the document email. (66.249.93.213) julien.triverio opened the document email. (66.249.93.213) Geir Freysson opened the document email. (66.249.93.201) Document emailed to julien.triverio@gmail.com (13.40.24.215) Sent the envelope to julien.triverio (julien.triverio@gmail.com) for signing. (37.60.109.41)

Geir Freysson signed the envelope. (37.60.109.41) Geir Freysson viewed the envelope. (37.60.109.41) Geir Freysson opened the document email. (66.249.93.214) Document emailed to geir.freysson@gmail.com (13.40.191.38)

Tue, 1st Feb 2022 12:13:22 UTC Mon, 31st Jan 2022 13:52:16 UTC Mon, 31st Jan 2022 11:51:35 UTC Mon, 31st Jan 2022 11:51:34 UTC

Mon, 31st Jan 2022 11:51:34 UTC

Mon, 31st Jan 2022 11:49:01 UTC

Sent Geir Freysson a reminder to sign the document. (83.219.51.124) Geir Freysson opened the document email. (66.249.93.214) Document emailed to geir.freysson@gmail.com (18.130.198.109) Sent the envelope to Geir Freysson (geir.freysson@gmail.com) for signing. (83.219.51.124)

The document was resent to geir.freysson@gmail.com after it initially bounced because: Incorrect spelling of email address (83.219.51.124) Party email (grei.freysson@gmail.com) has bounced back. The reason given is: 550 5.1.1 The email account that you tried to reach does not exist. Please try double-checking the recipient's email address for typos or unnecessary spaces. Learn more at

https://support.google.com/mail/?p=NoSuchUser g19si2645116qkp.152 - gsmtp (167.89.119.44)

Mon, 31st Jan 2022 11:48:54 UTC Mon, 31st Jan 2022 11:48:54 UTC

Mon, 31st Jan 2022 11:45:32 UTC Mon, 31st Jan 2022 11:44:14 UTC Mon, 31st Jan 2022 11:44:14 UTC Mon, 31st Jan 2022 11:40:41 UTC

Mon, 31st Jan 2022 11:39:51 UTC Mon, 31st Jan 2022 11:39:28 UTC

Document emailed to grei.freysson@gmail.com (18.132.97.250) Sent the envelope to Geir Freysson (grei.freysson@gmail.com) for signing. (83.219.51.124)

Francis Corbishley has been assigned to this envelope (83.219.51.124) julien.triverio has been assigned to this envelope (83.219.51.124) Geir Freysson has been assigned to this envelope (83.219.51.124) Document generated with fingerprint e10ae6e154f1c353b20dd5c59acfeaf6 (83.219.51.124)

Document generated with fingerprint

365383b9fe01aa4f0e9e0a141cc60153 (83.219.51.124) Envelope generated by Vivienne Start (83.219.51.124)