2023-07-31-accounts - Noah's Ark Nursery Group

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NOAH'S ARK NURSERY GROUP

REGISTERED CHARITY : 1022584

TRUSTEES REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 JULY 2023

NOAH'S ARK NURSERY GROUP

Legal and administrative information

Trustees:

Chair: Claire Ashworth Treasurer: Kate Verhaag Secretary: Laura Richardson Sophy Moynaugh Janice McShane - retired 31 July 2022 Fleur Robinson Georgia Murray-Timms - appointed 12 March 2024 Christine Tulley - appointed 12 March 2024

Registered Address:

Village Hall, Nayland Road, Bures, CO8 5BX

Bankers:

Lloyds Bank plc, 27 High Street, Colchester CO1 1DU

NOAH'S ARK NURSERY GROUP

Report of the Trustees for the year ended 31 July 2023

The Trustees present their report with the financial statements of the Nursery for the year ended 31 July 2023. The financial statements have been prepared in accordance with the accounting requirements of the Charities Act 2011 based on and income and expenses report.

Objectives

The mission statement of Noah’s Ark Nursery is ‘To provide a high-quality playgroup that is affordable and accessible to all’. It has been at the heart of Bures village life since January 1971 and is led by a Voluntary Committee. They aim to prepare children for future learning by supporting them in building a firm foundation through productive play-based activities.

Structure, Governance and Management

Noah’s Ark Nursery Group is run by a voluntary committee of between 5-12 people and operates under the Pre-School Learning Alliance 2011 Constitution.

The Trustees meet 2-4 times a year with a bookkeeper responsible for dealing with monthly reports and payroll matters, including tax, national insurance and all auto enrolment pensions contribution records and payments.

The manager, Leanne, assisted by her deputy manager, Chloe, deals with liaising with prospective parents, managing income and all staff matters.

The Nursery operates in Bures Village hall, during Suffolk school term time and provides a daytime early years nursery, as well as an after school club for children from the local primary school.

In Summer 2023 a summer holiday club was trialled over 2 weeks of the holidays to review uptake and viability. It was a success and is being brought back in the same format in 2024.

Community

The team at Noah’s Ark have carried out some brilliant fundraising this year, from ‘Bear Hunts’ to messy play and the tuck shop. Through this and donations they have managed to raise £4,980.

Achievements and Performance

The team at Noah’s Ark have worked incredibly hard this last year - through fundraising, training and trialling the new summer holiday club.

NOAH'S ARK NURSERY GROUP

Report of the Trustees for the year ended 31 July 2023 (continued)

Financial review

The net incoming fees and donations amounted to £161,940 (2022: £113,142 ), nursery running expenses amounted to £128,852 (2022: £120,427 ) with s surplus incoming of £33,088 (2022: deficit £7,285). This includes interest on bank balances of £114 (2022: £3).

The balance on accumulated funds at the year end amounted to £83,220 (2022: £50,132).

Risk management

The Trustees have assessed the major risks to which the Nursery is exposed, in particular those related to the operations and finances of the Nursery, and are satisfied that there are systems in place to mitigate exposure to those risks.

Reserves policy

The unrestricted funds represent the funds arising from past charitable activities, running the Nursery and considering liabilities which fall due after the accounting year end and in planning for the following academic year.

Consideration of the general reserves are held to cover necessary Nursery running costs, which, for the last two years, have been running in excess of £120,500 per annum. Happily, the funds have been rebuilt since the excess of expenses over income in 2021. There has been sensible provision for the expected running costs in the future, so funds are healthy. However, the team cannot be complacent and need to continue to monitor the position closely. The management of the Nursery requires close planning to ensure that the fees charged together with Early Years Funding adequately covers the staffing costs whilst bearing in mind all payroll legislation on employment costs. Within their planning the Trustees are aware of their responsibilities and have acted in reference to the guidance contained in the Charity Commission's general guidance on public benefit.

The Trustees' responsibilities in relation to the financial statements

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Committee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Committee is required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993 and trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees on 24 May 2024 and signed on their behalf:

Claire Ashworth - Chair

Independent Examiner's Report to the Trustees of

NOAH'S ARK NURSERY GROUP

I report to the trustees on my examination of the accounts of Noah's Ark Nursery Group for the year ended 31 July 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material 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 Trust as required by section 130 of the Act: or
2 the accounts do not accord with those records.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

L C Tippett ACA

Chartered Accountant

121 Colchester Road

West Bergholt Colchester CO6 3JX

24 May 2024

NOAH'S ARK NURSERY GROUP RECEIPTS and PAYMENTS ACCOUNT for the YEAR ENDED 31st July 2023

Receipts Fees EYDP grants Coronavirus support Fundraising and donations Interest received Total receipts Payments Rent Wages and staff cover Training courses and travelling expenses Insurance, PLA membership and inspections Outings and entertainment Toys and equipment Craft Clothing Milk and refreshments Repairs and renewals Cleaning and first aid Telephone Office expenses Tapestry and Nursery in a box Bookkeeping and accountancy Advertising and publications Fundraising expenses Total Payments Net receipts / (payments) Bank and cash balances brought forward Bank and cash balances carried forward	£ £ 65,922 90,924 - 4,980 114 161,940 15,346 101,259 823 1,003 572 2,598 494 306 2,095 14 445 337 676 1,878 - 359 647 128,852 33,088 50,132 83,220 2023	£ £ 51,408 60,228 128 1,375 3 113,142 12,244 100,485 172 1,078 500 520 241 336 905 98 300 246 903 1,417 45 592 345 120,427 (7,285) 57,417 50,132 2022

NOAH'S ARK NURSERY GROUP Statement of Assets and Liabilities as at 31st July 2023

Bank balances Bank current account Bank deposit account Petty cash Total reserves	£ £ 56,977 26,220 23 83,220 2023	£ £ 23,955 26,106 71 50,132 2022

for and on behalf of the Committee:

Claire Ashworth - Chair Kate Verhaag - Treasurer Date 24 May 2024 Date 24 May 2024