## **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