**Financial Accounts of Norland Fun Club for year ended 31 May 2021**
**Registered Charity 1026429**
**Norland Fun Club Registered Charity 1026429**
## **Annual Report and Financial Statements**
## **for the year ended 31 May 2021**
|**Contents**|**Page**|
|---|---|
|Trustees' Report|3 to 4|
|Examiner's Report|5|
|Income and Expenditure Account|6|
|Balance Sheet|7|
|Notes to the Accounts|8 to 11|
**Prepared by Julie Talbot CPFA MIAB**
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## **Norland Fun Club**
## **Registered Charity 1026429 Trustees' Report for the year ended 31 May 2021**
Norland Fun Club Berrymoor Road Norland Sowerby Bridge HX6 3RN
## **Officers/Trustees**
**Chair** Alyce Holt - Appointed November 2020 **Chair** Sophie O'Mahoney - Appointed September 2016, resigned November 2020 **Treasurer** Emma West - Appointed November 2020 **Treasurer** Amy Haynes - Appointed May 2017, resigned November 2020 **Secretary** Jessica Daniel - Appointed September 2016 **General** Helen Woodcock - Appointed November 2020
**Method of recruitment and appointment of Trustees:** The Trustees of the Charity are appointed by the members at the AGM.
## **Aims and Objectives**
Our primary goal is to ensure that we provide the highest quality childcare that is both accessible and affordable. Our setting will differentiate itself by a passionate attention to detail in everything we do underpinned by our quality programme.
Children will be safe, loved and stimulated in an efficient, well maintained and above all homely environment. We will promote a healthy understanding and respect for natural values in all aspects of the setting.
Above all, we want children to leave our setting with the confidence and skills to help them meet the challenges that lie ahead in the school system and beyond. We passionately believe this to be a joint effort between the setting and parents and to that end we will promote the right environment for that partnership to succeed.
Ultimately, we wish to be a leading exponent of day setting best practices and to achieve this through consideration of the needs of the child, the family, our staff, the community and the environment. The strategy we have adopted to achieve our mission is:
## **Continuous improvements**
To enhance our quality of provision through continuous improvements in:
- Communication and participation.
- Our policies and procedures.
- Management and staff training.
- The quality of our equipment and materials.
- Investing in the building and its fixtures and fittings.
- To manage the balance between business needs and people’s needs.
- To effectively implement childcare strategies and government legislation.
- To maintain setting development plans.
3
## **Norland Fun Club Registered Charity 1026429 Trustees' Report for the year ended 31 May 2021 (cont)**
## **Values**
The values we have adopted to achieve our mission are that we will always strive to:
- Behave ethically.
- Ensure that children and their families are our paramount concern.
- Create a stimulating and comfortable working environment.
- Act with integrity and trust.
- Take pride in everything we do.
- Always strive to improve what we do.
- Value the contributions of employees.
- Encourage and reward the highest standards.
## **Our overall business aims and targets.**
In order for the setting to develop, we need a clear vision of where we want to be and to have sight of the key aims and targets that need to be understood by everyone involved in the setting operations:
- To achieve a sustainable level of financial stability.
- To achieve an ‘outstanding’ rating from Ofsted.
- To maintain an occupancy level of above 90%.
- To attract high quality, motivated, loyal staff.
- To maintain a good working relationship with the local authority, local early years groups and local
- schools.
## **Reserves Policy**
NFC has a reserve policy as follows: - £5,000 to demolish building and return to a field, as per quotations obtained in April 2012.
£16,000 to maintain the running of NFC for 8 weeks in exceptional circumstances if there was no income. Our Aim is to increase these funds to extend this to 12 weeks running costs plus demolition costs steadily over the next 2 years. Subject to increasing running costs, we anticipate circa £32,000.00
These funds have been put in a bank account with Lloyds Bank.
This policy is in line with guidance from the charities commission and the pre-school learning alliance. The reserves policy will be reviewed annually.
## **Going Concern**
The Trustees are satisfied that the Charity remains a 'Going 'Concern'.
## **General Notes**
This financial year has been an exceptionally difficult one navigating our way through a global pandemic. Our outgoings are and will continue to be higher given the necessity to hire a portacabin in order that we create space to enable us to continue offering care using ‘bubbles’.
We continue to monitor, adapt and most importantly, provide a safe and nurturing setting to our families.
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## **Norland Fun Club Registered Charity 1026429 Independent Examiner’s report to the Trustees of Norland Fun Club**
I report on the accounts of the charity for the year ended 31 May 2021, which are set out on pages 6 to 9.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 (2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- follow the procedures laid down in the General Directions given by the Charity Commission (under section
- 145(5)(b) of the 2011 Act); and
- state whether particular matters have come to my attention.
## **Basis of independent examiner’s statement**
My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting
- requirements of the 2011 Act have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed: ………………………………………Name: Julie Talbot
Relevant professional qualification or body: CIPFA
Date: 09 February 2022
## **Julie Talbot BA (Hons) CPFA MIAB**
1 Wood Nook Norland Sowerby Bridge West Yorkshire HX6 3RZ
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## **Norland Fun Club**
## **Income and Expenditure Statement 1 June 2020 - 31 May 2021**
|**Income**
Grants and Donations
Income from Investments
Operating activities to further the Charity's objectives
Other income - Fundraising
**Total Income**
**Expenditure**
Payments for generating funds (Fundraising costs)
Charitable activities
**Total Expenditure**
Net Receipts
Cash funds last year end
Cash Funds this year end|**Unrestricted **
**Funds**
**£**
128
4
55,680
0
**55,813**
**£**
0
56,257
**56,257**
-443
47,159
**46,715**|**Restricted**
**Funds**
**£**
0
0
67,462
**67,462**
**£**
0
69,135
**69,135**
-1,673
12,364
**10,691**|**Total**
**31/05/2021**
**£**
128
4
123,142
0
**123,275**
**£**
0
125,392
**125,392**
-2,116
59,523
**57,407**|**Total**
**31/05/2020**
**£**
1,113
13
133,303
538
**134,968**
**£**
10
134,763
**134,773**
194
59,328
**59,523**|
|---|---|---|---|---|
6
## **Norland Fun Club Balance Sheet at 31 May 2021**
|||**31/05/2021**||**31/05/2020**|
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
|**CURRENT ASSETS**|||||
|Debtors|-1,191||113||
|Cash at bank and in hand|76,243||83,260||
|||75,052||83,374|
|**CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR**|14,649||20,851||
|**NET CURRENT ASSETS**||60,403||62,522|
|**CREDITORS:AMOUNTS FALLING DUE AFTER**|3,000||3,000||
|**MORE THAN ONE YEAR**|||||
|**TOTAL ASSETS LESS CURRENT LIABILITIES**||**57,404**||**59,522**|
|**FUNDS**|||||
|Unrestricted funds||46,715||47,159|
|Restricted funds||10,691||12,364|
|**TOTAL FUNDS**||**57,407**||**59,524**|
||||||
## **Approval of the accounts**
The financial statements were approved at a meeting of the trustees and signed on its behalf by:
Signed: …………………………………………………….
Name ……………………………………………………… (Trustee)
Date: ……………………………………………………….
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## **Norland Fun Club Notes to the Accounts Detailed Income and Expenditure Statement 1 June 2020 - 31 May 2021**
|**Income**
**2020/21**
**£**
**Restricted**
Donations
128
EYF
67,462
EYF Deprivation
-
**Unrestricted**
BAAS
19,635
Pre-school
13,545
Trips
-
Goods for resale
-
Fundraising
-
Uniform
416
Furlough (CJRS)
17,083
Business Support Grant
5,000
Other revenue Insurance Claim
0
**Expenditure**
Wages/NI
91,477
Pension
8,791
Equipment/toys/crafts
2,215
Software and Subs
2,135
Qual Exps
-
Depr expr
-
Action Kids/Provision Sports
-
Summer Club Expenditure
-
Trips incl travel
-
Food
1,646
Goods for resale
780
Office/Stationery
5,157
Travel
100
Training
455
Rents / Rates
3,813
Repairs
1,097
Elec/ Gas
1,650
Water
360
Nappy disposal
306
Telephone
1,400
Crafts
1,094
Bank charges
90
Insurance
1,548
Accountancy/Legal fees
325
Marketing
180
Fundraising costs
-
Sundry expenses
774
Bad Debt
-
surplus/deficit
Interest payable
Interest receivable
Net surplus/(deficit)
Corp tax
Dividend
Net surplus/(deficit)|**2019/20**
**£**
1,113
59,310
121
36,865
22,959
-
-
538
458
8,590
5,000
-
123,270
98,888
9,638
426
1,884
-
-
531
317
52
3,148
461
3,618
871
823
1,428
4,692
1,447
491
170
1,426
1,558
81
1,593
516
490
10
213
-
125,392
2,123
-
-
-
4
2,118
-
-
-
2,118
-|134,954
134,773
181
-
-
13
194
-
-
194|
|---|---|---|
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## **Norland Fun Club Notes to the Accounts Detailed Balance Sheet at 31 May 2021**
|**2020/21**
**£**
**Current assets**
**Unrestricted**
Current account
53,517
Fundraising account
1,060
Reserves
17,000
Reserve interest
4,056
Petty cash
611
Debtors
2,583
-
Accrued income/p paid
927
**Restricted**
EEF Quality
-
EEF Deprivation
-
EEF 10%
465
**Current liabilities**
**Unrestricted**
Inland revenue
1,579
Net pay
-
Accrued exps/ p paid
559
Fundraising to spend
-
RIA (Deferred income)
490
Corporation Tax
-
**Restricted**
EYF
12,021
**Long term liabilities**
Contingency
3,000
**Net assets**
Surplus for period
Accumulated fund|**2019/20**
**£**
59,970
3,167
17,000
2,652
472
1,793
-
1,906
-
-
0
75,053
649
-
565
-
6,980
-
12,657
14,649
3,000
57,404
2,118
-
59,523
57,405|83,374
20,851
59,522
194
59,329
59,523|
|---|---|---|
Norland Fun Club owns an asset being the Building it operates from. This has an estimated value of £70,000.
Assets recognised but not valued includes play equipment and computer equipment.
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## **Norland Fun Club Notes to the Accounts Accounting Polices**
**1 June 2020 - 31 May 2021**
## **Basis of accounting**
The Accounts are prepared on an accruals basis
There has been no change to the accounting policies since last year.
## **Taxation**
As a registered charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Further examination of the nature and purpose of each fund is included in the notes to the accounts.
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## **Norland Fun Club**
## **Notes to the Accounts Continued 1 June 2020 - 31 May 2021**
|**2 Grants and donations**|**2021**|**2021**|**2021**|**2020**|
|---|---|---|---|---|
||**Unrestricted**|**Restricted**|**Total**|**Total**|
||**funds**|**funds**|**funds**|**funds**|
||**£**|**£**|**£**|**£**|
|CMBC - Children & Young People's Services|0|67,462|67,462|59,431|
|Other grants|0|0|0|0|
|Donations|128|0|128|1,113|
||**128**|**67,462**|**67,590**|**60,544**|
|**3 Staff costs and numbers**|||**2021**|**2020**|
|Staff remuneration|||**£**
90,877|**£**
97,306|
|Social security costs|||0|1,729|
|Pensions|||9,594|9,661|
||||**100,471**|**108,696**|
|The average number employees during the year was 8 (2020:8).|||||
|There were no employees with emoluments above £60,000|||||
|**4 Restricted funds**|**Balance b/f**|**Incoming**|**Outgoing**|**Balance c/f**|
|CMBC - Early Education Funding (*)|**£**
11,363|**£**
67,462|**£**
68,135|**£**
10,689|
|Norland Scarecrow committee|1,000|0|1,000|0|
||**12,363**|**67,462**|**69,135**|**10,690**|
## **Fund name Purpose of restriction**
CMBC - Early Education Funding Norland Scarecrow committee
For the supply of free early years provision for 2 to 4 year olds. For outside equipment
## **5 Trustee expenses**
No trustee received any expenses during this or the previous financial year.
## **6 Related party transactions**
There were no related party transactions during this or the previous financial year
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