2022-05-31-accounts - Norland Fun Club

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Financial Accounts of Norland Fun Club for year ended 31 May 2022

Registered Charity 1026429

Registered Charity 1026429

Norland Fun Club

Annual Report and Financial Statements

for the year ended 31 May 2022

Contents	Page
Trustees' Report	3-4
Examiner's Report	5
Income and Expenditure Account	6
Balance Sheet	7
I & E Detailed	8
Notes to the Accounts	9-11

Prepared by Julie Talbot CPFA

Norland Fun Club

Registered Charity 1026429 Trustees' Report for the year ended 31 May 2022

Norland Fun Club Berrymoor Road Norland Sowerby Bridge HX6 3RN

Officers/Trustees

Chair Alyce Holt - Appointed November 2020 Treasurer Sofia Davies - Appointed September 2021 Secretary Jessica Daniel - Appointed September 2016 General Helen Woodcock - Appointed November 2020 General Alison Whitaker - Appointed April 2022

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.

Norland Fun Club

Registered Charity 1026429

Trustees' Report for the year ended 31 May 2022 (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

We continue to monitor, adapt and most importantly, provide a safe and nurturing setting to our families.

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 2022, 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 in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

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
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: 17 March 2023

Julie Talbot BA (Hons) CPFA

1 Wood Nook Norland Sowerby Bridge West Yorkshire HX6 3RZ

I have not received any remuneration for undertaking this IE.

Norland Fun Club Income and Expenditure Statement 1 June 2021 - 31 May 2022

Unrestricted	Unrestricted	Restricted	Total	Total
	Funds	Funds	31/05/2022	31/05/2021
Income	£	£	£	£
Grants and Donations	0	0	0	128
Income from Investments	2	0	2	4
Operating activities to further the Charity's objective	62,918	71,673	134,592	116,341
Other income - Fundraising	2,105	0	2,105	0
Total Income	65,026	71,673	136,699	116,473
Expenditure	£	£	£	£
Payments for generating funds (Fundraising costs)	0	0	0	0
Charitable activities	81,866	68,855	150,721	123,490
Total Expenditure	81,866	68,855	150,721	123,490
Net	-16,840	2,818	-14,022	-7,017
Balance B/F	65,487	10,691	76,178	83,195
Balance C/F	48,647	13,509	62,156	76,178

The 2020/21 Accounts have been re-stated (changed from accruals to cash basis)

Norland Fun Club Balance Sheet at 31 May 2022

	31/05/2022		31/05/2021
	£		£
Current Assets
Current Bank Account	34,754		53,517
Savings Bank Account	24,558		21,056
Fundraising Account	2,571		1,060
Pe�y Cash	272		545
		62,156		76,178
FUNDS
Unrestricted funds		48,647		65,487
Restricted funds		13,509		10,691
TOTAL FUNDS		62,156		76,178

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.

The 2020/21 Accounts have been re-stated (changed from accruals to cash basis)

Norland Fun Club Notes to the Accounts

Detailed Income and Expenditure Statement 1 June 2021- 31 May 2022

1 June 2021- 31 May 2022
Income 2021/22 £ Restricted Unrestricted Expenditure Donations EYF 71,673 BAAS 34,505 Pre-school 25,593 Trips Goods for resale Fundraising 2,105 Uniform 604 Furlough (CJRS) 2,217 Wages/NI 119,669 Pension (Employer) 4,322 Equipment/toys/crafts 806 Software and Subs 1,980 Food 2,388 Goods for resale (Uniform) 560 Office/Stationery 3,823 Travel and Entertainment 886 Training 424 Rents / Rates 3,248 Repairs 5,559 Elec/Gas/Water 2,418 Nappy disposal 320 Telephone 1,202 Crafts 847 Bank charges 89 Insurance 1,184 Accountancy/Legal fees 325 Marketing - Fundraising costs - Sundry expenses 351 Gifts/Donations 322 Bad Debt - surplus/deficit Interest payable Interest receivable Net surplus/(deficit) -	2020/21 £ 128 66,362 20,560 13,901 - 416 15,239
	136,697 90,547 8,796 2,215 2,135 1,646 780 5,157 100 455 3,813 1,097 1,556 306 1,400 1,094 90 1,123 325 180 - 810 - - 150,721 (14,024) - 2 (14,022)	116,605

		123,626

		(7,021)
		- 4
		(7,017)

The 2020/21 Accounts have been re-stated (changed from accruals to cash basis)

Norland Fun Club Notes to the Accounts Accounting Polices 1 June 2021 - 31 May 2022

Basis of accoun�ng

The Accounts are prepared on a cash basis

There has been a change to the accounting policies since last year in that 20/21 was prepared on an accrual basis.

The 2020/21 Accounts have been re-stated on a cash basis

Taxa�on

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 accoun�ng

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.

Norland Fun Club Notes to the Accounts Continued

1 June 2021 - 31 May 2022

2 Grants and dona�ons	2022	2022	2022	2021
	Unrestricted	Restricted	Total	Total
	funds	funds	funds	funds
	£	£	£	£
CMBC - Children & Young People's Services	0	71,673	71,673	66,362
Other grants	0	0	0	0
Dona�ons	0	0	0	128
	2	71,673	71,673	66,489
3 Staf costs and numbers		2022	2021
			£
Staf remunera�on		119,052	90,547
Social security costs (NI)		617	-
Pensions*		4,322	8,796
		123,990	99,344

employer

The average number employees during the year was 11 (2021:8). There were no employees with emoluments above £60,000

4 Restricted funds	Balance b/f	Incoming	Outgoing	Balance c/f
	£	£	£	£
CMBC - Early Educa�on Funding (*)	10,691	71,673	68,855	13,509
	10,691	71,673	68,855	13,509
Fund name	Purpose of restric�on

Purpose of restric�on

CMBC - Early Educa�on Funding: For the supply of free early years provision for 2 to 4 year olds.

5 Trustee expenses

6 Related party transac�ons

Norland Fun Club Notes to the Accounts Continued 1 June 2021 - 31 May 2022

7 Amounts owed at 31/05/2022

2021/22 2020/21

Accrued Expenditure

Receipts in Advance HMRC Pensions IE EYF BAAS	0 1,579 0 234 0 325
	- 2,138
	13,509 12,021 0 490
	13,509 12,511

7 Amounts owed at 31/05/2022

Prepayments
	2021/22	2020/21
Insurance	1,027	927

The 2020/21 Accounts have been re-stated (changed from accruals to cash basis)