Acorns Nursery School
Charity No. 1028177
Trustees' Report and Unaudited Accounts
31 August 2020
Acorns Nursery School Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Statement of Cash flows | 14 |
| Notes to the Accounts | 7 to 13 |
| Detailed Statement of Financial Activities | 15 to 16 |
Page 1
ACORNS NURSERY SCHOOL, SHACKLEFORD
ANNUAL GENERAL MEETING
CHAIRPERSONS REPORT
This is a review of the year to from September 2019 to August 2020
Acorns is a non-profit making registered charity, and needs a committee made up of current parents to fulfill it’s constitution. Cary and the team have been responsible for the running of the nursery during the period 2019 to 2020. The committee is responsible for overseeing the business management and good governance of the nursery. The committee’s main role is to fundraise, to supplement the income of Acorns.
The volunteer committee this year have been: - Co Chairs : Kate Jones and Holly Cook Treasurer: Kate Peters Secretary: Kate Jones
Open Committee Members: Hattie Ward, Louise Charlton, Charlotte Watson, Gemma Johnson and Sarah Dolata
Acorns continues to be an extremely popular choice in the area, mainly driven by word of mouth and siblings of previous attendees, Acorns is unique in that our children benefit from the extensive childcare experience and longevity of the teaching staff as well as a vibrant, diverse and primarily fun education; as well as the ‘Outstanding’ Rating given from Ofsted in July 2015. It was expected that an Ofsted inspection would take place in 2020, but due to the COVID pandemic, this did not materialise.
Acorns has charitable status and therefore a parent committee is a requirement for this. The fixed basic, everyday costs and expenses e.g. the rent on the hall, business rates, insurance, staff salaries, materials and perishables are covered as income from FEE and FEET funding and parents as fees. The investment into the nursery such as new toys and books, garden development or building maintenance and refurbishment are funded by the events organised by the committee, parents and staff.
During this financial year, the nursery was hit by the COVID pandemic and has to shut from March 2020, due to UK lockdown and was not in a position to reopen until September 2020. Therefore, any plans for improvements or maintenance during this period were put on hold.
During the past year, we have made many improvements to the nursery including;
-
Replacing outdoor furniture
-
Addition of new shelving units indoors
-
Additional resources to help children develop pen grip, magnetic construction and social communication games
-
Fogging machine
The COVID pandemic also prevented a number of Acorns established fundraising activities to take place, such as coffee mornings, hampers, quiz nights, summer photographs. Therefore, no fundraising activities took place in the summer term due to the COVID pandemic and lockdown/restrictions in England.
This year the fundraising was made up of the Autumn term Christmas crafts and photographs, organised by the staff team. Also a generous donation from a parent for a sponsored run. The fundraising team were unable to hold any planned events, apart from providing Coffee & Cake twice, because of the closure.
closure. |
|
|---|---|
| Autumn Term | Christmas bundles, sales table and raffle |
| An Acorns parent who completed a half marathon in aid of Acorns | |
| Photographs of children and their families for Christmas | |
| Spring Term | Coffee & Cakes after drop off x 2 |
| Summer Term | No fundraising activities |
In addition, £21.67 was raised via Easyfundraising during the year.
The total for the year’s fundraising was £1,156.81
The Shackleford Fete did not take place in June 2020, so the usual generous donation was not received by Acorns. Fundraising would have expected to raise approx £4K had the year gone to plan.
Summary
This year has been unprecedented in light of the COVID pandemic and has resulted in a significantly reduced amount of fundraising taking place for Acorns, as well as Acorns been shut to all children from March until September 2020.
The committee would like to thank all the staff for their dedication and hard work this year in a very challenging time. The online weekly Tapestry activities and suggestions during the closure period were appreciated by many parents.
The Chairs would also like to thank the other committee members who have supported and assisted in fundraising for Acorns during the year and finally would like to thank all parents, grandparents and carers who continue to support Acorns.
The Committee for 2020 -2021 needs to be appointed and existing members were asked to propose and seconding the following nominations. The outcome of these nominations are outlined below:
New committee nominees and roles.
Chairpersons: Sophie Childs and Stella Doble Propose : Kate Jones 2[nd] : Charlotte Watson
Treasurer: Hattie Ward Propose : Sophie Childs and Holly Cook 2[nd] : Stella Doble and Kate Jones
Secretary: Emma Sergeant Propose: Sophie Childs and Holly Cook 2[nd] : Stella Doble and Kate Jones
Open Committee Members: Charlotte Watson, Sarah Dolata and Selina Warlow Propose: Kate Jones 2[nd] : Holly Cook
AGM Acorns Committee, over Zoom (due to COVID lockdown in England) Tuesday 24[th] November 2020.
In Attendance:
Kate Jones (co-Chair) Holly Cook (co-Chair) Cary Dale (Acorns Representative/Leader) Wendy Hammond (Acorns Representative/Bookkeeper) Beatty Currier (Acorns Representative) Charlotte Watson (parent) Sophie Childs (parent) Stella Doble (parent) Hattie Ward (parent) Adam Venus (parent) Daniella Venus (parent) Samira Abdullah Stevenson (parent) Emma Sergeant (parent) Gail McLaughlan (parent) Allie Leighton (parent) Ross Leighton (parent)
Acorns Nursery School Independent Examiners Report
Independent Examiner's Report to the trustees of Acorns Nursery School
I report to the trustees on my examination of the accounts of Acorns Nursery School for the year ended 31 August 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 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 can 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:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
M H Matthews FCCA ACCA MHM Accounting Solutions 13 Mapledrakes Close Ewhurst
GU6 7QR 31 August 2020
Page 0
Acorns Nursery School Statement of Financial Activities for the year ended 31 August 2020
| Notes Income and endowments from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Total Expenditure on: Other 6 Total Net gains on investments Net expenditure 7 Transfers between funds Net expenditure before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricte d funds 2020 £ 368 1,157 114,522 |
Total funds 2020 £ 368 1,157 114,522 |
Total funds 2019 £ 2,124 3,582 129,611 |
|---|---|---|---|
| 116,047 125,786 |
116,047 125,786 |
135,317 147,073 |
|
| 125,786 - |
125,786 - |
147,073 - |
|
| (9,739) - |
(9,739) - |
(11,756) - |
|
| (9,739) | (9,739) | (11,756) | |
| (9,739) 45,088 |
(9,739) 45,088 |
(11,756) 56,844 |
|
| 35,349 | 35,349 | 45,088 |
Page 1
Acorns Nursery School Balance Sheet
at 31 August 2020
| Charity No. 1028177 Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors:Amount falling due within one year 11 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 12 Unrestricted funds 12 General funds Reserves 12 Total funds Approved by the trustees on 31 August 2020 |
2020 £ 6,304 6,304 - 32,161 32,161 (3,116) 29,045 35,349 35,349 35,349 35,349 35,349 35,349 |
2019 £ 21,551 |
|---|---|---|
| 21,551 (287) 26,391 |
||
| 26,104 (2,567) |
||
| 23,537 45,088 |
||
| 45,088 | ||
| 45,088 | ||
| 45,088 | ||
| 45,088 | ||
| 45,088 | ||
And signed on their behalf by:
K. Jones Trustee 31 August 2020
Page 2
Acorns Nursery School Notes to the Accounts
for the year ended 31 August 2020
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 3
Acorns Nursery School Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Intangible fixed assets and amortisation
Intangible fixed assets (including purchased goodwill, patents and trademarks) are carried at cost less accumulated amortisation and impairment losses.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Page 4
Acorns Nursery School Notes to the Accounts
Trade and other creditors
Short term creditors are measured at the transaction price. Other 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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
Page 5
Acorns Nursery School Notes to the Accounts
2 Statement of Financial Activities - prior year
| 2 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Donations and legacies Charitable activities Other trading activities Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Donations |
Unrestricted £ 368 368 |
Unrestricted funds 2019 £ 2,124 3,582 129,611 135,317 147,073 147,073 (11,756) (11,756) (11,756) 56,844 45,088 Total 2020 £ 368 368 |
Total funds 2019 £ 2,124 3,582 129,611 |
| 135,317 147,073 |
|||
| 147,073 | |||
| (11,756) | |||
| (11,756) | |||
| (11,756) 56,844 |
|||
| 45,088 | |||
| Total 2019 £ 2,124 |
|||
| 2,124 |
- 4 Income from charitable activities
Fund raising
| Unrestricted £ 1,157 - 1,157 |
Total 2020 £ 1,157 - 1,157 |
Total 2019 £ 3,323 259 |
|---|---|---|
| 3,582 |
Page 6
Acorns Nursery School Notes to the Accounts
5 Income from other trading activities
| Fees Registrations Discounts Sweatshirts 6 Other expenditure Educational Products Other interest payable Employee costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 7 Net expenditure before transfers This is stated after charging: Depreciation of owned fixed assets 8 Staff costs Salaries and wages Social security costs Pension costs |
Unrestricted £ 114,357 180 (200) 185 114,522 Unrestricted £ 1,671 - (1) 99,380 13,977 3,879 5,920 960 125,786 2020 £ 3,879 88,525 5,003 1,346 94,874 |
Total 2020 £ 114,357 180 (200) 185 114,522 Total 2020 £ 1,671 - (1) 99,380 13,977 3,879 5,920 960 125,786 |
Total 2019 £ 131,284 520 (1,715) (478) |
|---|---|---|---|
| 129,611 | |||
| Total 2019 £ 2,752 28 (1) 113,486 15,633 8,389 5,766 1,020 |
|||
| 147,073 | |||
| 2019 £ 8,389 105,387 3,743 971 |
|||
| 110,101 |
No employee received emoluments in excess of £60,000.
Page 7
Acorns Nursery School Notes to the Accounts
- 9 Tangible fixed assets
| Cost or revaluation At 1 September 2019 Disposals At 31 August 2020 Depreciation and impairment At 1 September 2019 Depreciation charge for the year At 31 August 2020 Net book values At 31 August 2020 At 31 August 2019 10 Debtors Trade debtors 11 Creditors: amounts falling due within one year Other taxes and social security Accruals and deferred income 12 Movement in funds Restricted funds: Unrestricted funds: General funds Revaluation Reserves: Total funds |
At 1 September 2019 45,088 45,088 |
2020 £ - - 2020 £ 1,082 2,034 3,116 Incoming resources (including other gains/losses ) £ 116,047 116,047 |
£ 33,566 (11,369) 22,197 12,014 3,879 15,893 6,304 21,552 Resources expended £ (125,786) (125,786) |
£ 33,566 (11,369) |
|---|---|---|---|---|
| 22,197 | ||||
| 12,014 3,879 |
||||
| 15,893 | ||||
| 6,304 | ||||
| 21,552 | ||||
| 2019 £ (287) |
||||
| (287) | ||||
| 2019 £ 831 1,736 |
||||
| 2,567 | ||||
| At 31 August 2020 £ 35,349 |
||||
| 35,349 |
Page 8
Acorns Nursery School Notes to the Accounts
13 Analysis of net assets between funds
| 13 Analysis of net assets between funds | ||||
|---|---|---|---|---|
| Fixed assets Net current assets 14 Reconciliation of net debt Cash and cash equivalents Net debt |
At 1 September 2019 £ |
Cash flows £ |
Unrestricted funds £ 6,304 29,045 35,349 New HP/Finance leases £ |
Total £ 6,304 29,045 |
| 35,349 | ||||
| At 31 August 2020 £ |
||||
| 26,391 | 5,770 | 32,161 | ||
| 26,391 26,391 |
5,770 5,770 |
- - |
32,161 | |
| 32,161 | ||||
| 15 Commitments Operating lease commitments Annual commitments under non-cancellable operating leases 2020 Land and buildings £ Operating leases with expiry date: Pension commitments The pension cost charge to the charity amounted to: |
are as follows: 2020 Other £ 2020 £ 1,346 |
2019 Land and buildings £ |
2019 Other £ 2019 £ 971 |
Page 9
Acorns Nursery School Statement of Cash flows for the year ended 31 August 2020
| Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment (Increase)/Decrease in trade and other receivables Increase in trade and other payables Net cash (used in)/provided by operating activities Cash flows from investing activities Proceeds from sales of property, plant and equipment Net cash from/(used in) investing activities Net cash from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2020 £ (9,739) 3,879 (287) 549 (5,598) 11,369 11,369 - 5,771 26,391 32,162 |
2019 £ (11,756) 8,389 287 4,470 |
|---|---|---|
| 1,390 - |
||
| (7,700) | ||
| - | ||
| (6,310) | ||
| 32,701 | ||
| 26,391 | ||
| Components of cash and cash equivalents | ||
| Cash and bank balances | 32,161 | 26,391 |
| 32,161 | 26,391 |
Page 10
Acorns Nursery School Detailed Statement of Financial Activities
for the year ended 31 August 2020
| Income and endowments from: Donations and legacies Donations Charitable activities Fund raising Other trading activities Fees Registrations Discounts Sweatshirts Total income and endowments Expenditure on: Other expenditure Educational Products Other interest payable Employee costs Salaries/wages Employer's NIC Pension costs Staff training Staff welfare Premises costs Rent Rates Premises cleaning Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of Bad debts |
Unrestricted funds 2020 £ 368 368 1,157 - 1,157 114,357 180 (200) 185 114,522 116,047 1,671 - (1) 1,670 88,525 5,003 1,346 4,057 449 99,380 9,944 - 1,745 2,288 13,977 3,879 591 |
Total funds 2020 £ 368 368 1,157 - 1,157 114,357 180 (200) 185 114,522 116,047 1,671 - (1) 1,670 88,525 5,003 1,346 4,057 449 99,380 9,944 - 1,745 2,288 13,977 3,879 591 |
Total funds 2019 £ 2,124 |
|---|---|---|---|
| 2,124 | |||
| 3,323 259 |
|||
| 3,582 | |||
| 131,284 520 (1,715) (478) |
|||
| 129,611 | |||
| 135,317 2,752 28 (1) |
|||
| 2,779 | |||
| 105,387 3,743 971 3,385 - |
|||
| 113,486 | |||
| 10,185 3,267 1,473 708 |
|||
| 15,633 | |||
| 8,389 - |
Page 11
Acorns Nursery School Detailed Statement of Financial Activities
| General insurances Information and publications Postage and couriers Software, IT support and related costs Stationery and printing Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net losses on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
45,088 35,349 |
- - |
1,379 - 62 1,165 380 1,379 964 9,799 960 960 125,786 125,786 - (9,739) (9,739) - (9,739) - - |
1,379 - 62 1,165 380 1,379 964 9,799 960 960 125,786 125,786 - (9,739) (9,739) - (9,739) 45,088 35,349 |
1,247 72 143 1,091 1,294 768 1,151 |
|---|---|---|---|---|---|
| 14,155 | |||||
| 1,020 | |||||
| 1,020 | |||||
| 147,073 | |||||
| 147,073 - |
|||||
| (11,756) | |||||
| (11,756) - |
|||||
| (11,756) | |||||
| 56,844 | |||||
| 45,088 |
Page 12