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2022-08-31-accounts

Acorns Nursery School

Charity No. 1028177

Trustees' Report and Unaudited Accounts

31 August 2022

Acorns Nursery School Contents

Pages
Trustees' Annual Report 1
Independent Examiner's Report 2
Statement of Financial Activities 3
Balance Sheet 4
Statement of Cash flows 5
Notes to the Accounts 6
Detailed Statement of Financial Activities 7 to 9

Page 1

Acorns Nursery School Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 August 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1028177

Principal Office

The Village Hall Shackleford GU8 6AE Address Line 5

Trustees

The following trustees served during the year:

H Ward

C Goodwin

G Attrill

Accountants

MHM Accounting Solutions 13 Mapledrakes Close Ewhurst GU6 7QR

Page 2

ACORNS NURSERY SCHOOL, SHACKLEFORD

ANNUAL GENERAL MEETING

CHAIRPERSON’S REPORT

This is a review of the year September 2021 to August 2022.

The Nursery

Acorns continues to be an extremely popular choice in the local area, with the nursery being at full capacity come the end of the summer term. Popularity is mainly driven by word of mouth and siblings of previous attendees. Acorns children benefit from an experienced, enthusiastic staff team, most of whom have been with us for many years. Acorns’ ethos is that children learn best through play when happy and nurtured, gaining social skills and independence to make them confident learners who leave ready for their ongoing education. Strong links to local schools ensure Acorns prepares the children in the best way possible for their next step.

Staff update

Beatty Currier continues to lead the fantastic team. Karen Pybis who joined in March 2021 left at the end of July 2022 to move to the newly established nursery at St James' Primary School in Elstead, as her children are at the school and she lived close by. New staff members will be recruited for 22/23 to replace Karen but also to cover increased demand. Marion and Amy continued to support throughout the year.

The committee

Acorns is a non-profit making registered charity, and needs a committee of current parents to fulfil its constitution. One of the committee’s key roles is to fundraise additional monies to supplement the formal income of Acorns, alongside overseeing the business management and good governance of the nursery.

In summary - 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 part of the voluntary contributions. Usually there is sufficient income to meet this expenditure, however in January 2022 Surrey CC funding didn’t match the nursery’s term dates and a shortfall needed to be filled (without issue). Investment into the nursery to cover new toys and books, garden development or building maintenance/refurbishment etc is funded by events organised by the committee and parents, and donations from local community groups.

The volunteer committee this year has been: -

Chair: Caty Goodwin Treasurer: Hattie Ward Secretary: Gemma Attrill

Open Committee Members: Helen Butcher, Samira Stevenson

Covid-19

Although the main challenges presented by the Covid-19 pandemic had passed by the start of term in September 2021, we still faced on-going challenges and had to maintain some measures to limit transmission. Christmas was particularly challenging, with continuously evolving national restrictions and one of the staff testing positive. Fortunately the nursery continued as usual, thanks in no small part to the staff’s epic efforts and we are all very grateful to them for their efforts through this period. Activities that would have previously been held inside (coffee mornings in particular) were moved into the garden and became highly weather dependent. After much discussion and debate, the Christmas Show did go ahead in the church and was a lovely occasion, albeit with social distancing in place.

Ofsted

An Ofsted inspection was held in October 2021, the first at Acorns since 2015. The Inspector spent the day in the nursery observing the children and staff, as well as talking to parents at drop-off. Acorns achieved an impressive “Good” overall rating, with some fantastic feedback from the assessor and some observations for the staff to help drive continuous improvement.

Open Evening

The staff held an Open Evening in November to show parents what goes on behind closed doors! It was a fantastic opportunity to see the amazing resources available, to ask questions and to understand a bit more why the children enjoy going so much. Later in the year, a Parents Evening was held where a meeting between each child’s parents and their key worker was arranged to discuss progress and any issues either party wanted to raise.

School Preparation

Beatty and Ali spoke to the parents at a school readiness evening about how best to practically and emotionally support their child in the school transition process. Everyone found it highly beneficial and we are still hearing positive feedback from leavers.

Fundraising

Following a tough year with reduced ability to raise money for the nursery and a depletion in reserve funds, the year started slowly but picked up by the summer with a huge total of £5657.75 raised. This was achieved due to fundraising activities throughout the year by parents and staff, as well as the nursery receiving generous donations from Puttenham Bonfire (£500) and Shackleford Fete (£2000), where the staff ran a spectacular cake stall and children's activity table, as well as a "Tuck Shop" manned by the Acorns children and parents. Also to note, they all performed the Funky Monkey and Shopping Song in the main arena to kick off the fete which was very much enjoyed by all spectators!

The staff organised a monthly Tuck Shop too, which was run by the children and was a huge hit. Each month a different “treat” was on offer - from snacks and sweets, to books, to hair clips and toy cars. It was a lovely way for the older children to run the shop - and an occasion for all the children to experience shopping on a small scale. It has taken a lot of effort from the staff and provided some challenges but has been an enjoyable experience for the children. All funds raised have been saved and will be spent on a special experience for the children, which is yet to be arranged.

Unfortunately a couple of events that were planned didn’t go ahead due to lack of participation (Wreath Making Dec 2021 and ‘Wine and West End’ May 2022). This may have been due to reticence following the easing of Covid restrictions, or under-promotion/late notice. We will learn from this and hopefully see more interest in similar activities next year.

Autumn Term Coffee morning
Cake sale
Christmas hamper raffle
Christmas bundles
Spring Term Winter Warmer coffee morning and cake sale
Dads’ Stay and Play
Coffee morning and cake sale
Easter Family Fun Day
Summer Term Shackleford fete
Sale of Children's “End of Year” photographs
Jubilee Hamper raffle
Leavers Art Gallery evening

The money raised was used in many ways to make improvements to the nursery and the children’s experience including;

As well as raising money for the nursery itself, Acorns participates in national charitable activities and raised money this year for Children in Need, MacMillan, the Children’s Trust and Save the Children.

Summary

As my first year as Chair (and also as an Acorns parent), I have been blown away by the nursery staff. Following a tough time through the pandemic, Covid still loomed over us for much of the year, yet they continued with resilience to provide the children with a safe, reliable and as “normal” an environment as possible. Each staff member knows every child and it is no wonder that demand for spaces at Acorns continues to increase. I would like to take this opportunity to say a big thank you to all the staff on behalf of all the parents.

Acorns offers a very special start to our children’s education and alongside our staff, we as parents must share the responsibility to ensure this can continue. On that note, it must also be said that the parents and carers are an important part of the nursery community and everyone’s support is fantastic - and very much appreciated by the committee and the staff. I hope that we can all continue to work together to provide the most enjoyable, educational and nurturing place for our children.

Committee 2022-2023

The Committee for 2022 -2023 needs to be appointed. Members have been proposed and seconded as below:

New committee nominees and roles

Chair: Caty Goodwin (staying in existing role) Propose : Gemma Attrill 2[nd] : Tamsyn Houlden-Stanley Treasurer: Tamsyn Houlden-Stanley Propose : Caty Goodwin 2[nd] : Gemma Attrill Secretary: Gemma Attrill (staying in existing role) Propose: Caty Goodwin 2[nd] : Tamsyn Houlden-Stanley Open Committee Members: Jenny Orpin, Helen Butcher Propose: Caty Goodwin 2[nd] : Gemma Attrill

AGM, Acorns Committee, Acorns Nursery School, Shackleford Monday 20[st] February 2023

In Attendance : Caty Goodwin Gemma Attrill Tamsyn Houlden-Stanley Karen Bennett Beatty Currier

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 financial statements of Acorns Nursery School for the year ended 31 August 2022 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 financial statements 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 financial statements 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:

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 financial statements to be reached.

M H Matthews FCCA Association of Chartered Certified Accountants MHM Accounting Solutions 13 Mapledrakes Close Ewhurst

GU6 7QR 31 August 2022

Page 4

Acorns Nursery School Statement of Financial Activities for the year ended 31 August 2022

Notes
Income and endowments
from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Other
6
Total
Expenditure on:
Other
7
Total
Net gains on investments
Net income
8
Transfers between funds
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		 Unrestricted
funds		 Total funds Total funds
2022 2022 2021
£ £ £
2,247 2,247 2,414
3,411 3,411 2,980
85,309 85,309 121,000
66,245 66,245 24,746
157,212 157,212 151,140
145,207 145,207 139,681
145,207 145,207 139,681
- - -
12,005 12,005 11,459
- - -
12,005 12,005 11,459
12,005 12,005 11,459
46,809 46,809 35,350
58,814 58,814 46,809

Page 5

Acorns Nursery School Balance Sheet

at 31 August 2022

Charity No. 1028177
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors:Amount falling due within one year
12
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
13
Unrestricted funds
13
General funds
Reserves
13
Total funds
Approved by the trustees on 31 August 2022		 2022
£
14,146
14,146
838
62,568
63,406
(18,738)
44,668
58,814
58,814
58,814
58,814
58,814
58,814		 2021
£
5,172
5,172
402
53,428
53,830
(12,193)
41,637
46,809
46,809
46,809
46,809
46,809
46,809

And signed on their behalf by:

C.Goodwin

Trustee 31 August 2022

Page 6

Acorns Nursery School Notes to the Accounts

for the year ended 31 August 2022

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

Income

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 7

Acorns Nursery School Notes to the Accounts

Expenditure

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.

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.

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.

Page 8

Acorns Nursery School Notes to the Accounts

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.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 9

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
Other
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
4
Income from charitable activities
Fund raising		 Unrestricted
£
2,247
2,247
Unrestricted
£
3,411
3,411		 Unrestricted
funds
2021
£
2,414
2,980
121,000
24,746
151,140
139,681
139,681
11,459
11,459
11,459
35,350
46,809
Total
2022
£
2,247
2,247
Total
2022
£
3,411
3,411		 Total funds
2021
£
2,414
2,980
121,000
24,746
151,140
139,681
139,681
11,459
11,459
11,459
35,350
46,809
Total
2021
£
2,414
2,414
Total
2021
£
2,980
2,980

Page 10

Acorns Nursery School Notes to the Accounts

5
Income from other trading activities
Fees
Registrations
Discounts
Sweatshirts
6
Other income
Grants
Covid Grants
7
Other expenditure
Educational Products
Employee costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
8
Net income before transfers
This is stated after charging:
Depreciation of owned fixed assets
9
Staff costs
Salaries and wages
Social security costs
Pension costs		 Unrestricted
£
86,235
1,445
(3,129)
758
85,309
Unrestricted
£
66,245
-
66,245		 Total
2022
£
86,235
1,445
(3,129)
758
85,309
Total
2022
£
66,245
-
66,245		 Total
2021
£
121,986
500
(2,361)
875
121,000
Total
2021
£
20,147
4,599
24,746
Unrestricted
£
7,450
1,450
104,337
17,605
931
6,798
6,636
145,207
2022
£
931
2022
99,209
414
2,468
102,091		 Total
2022
£
7,450
1,450
104,337
17,605
931
6,798
6,636
145,207		 Total
2021
£
6,773
388
107,609
12,724
1,135
5,151
5,901
139,681
2021
£
1,135
2021
104,378
1,076
1,637
107,091

No employee received emoluments in excess of £60,000.

Page 11

Acorns Nursery School Notes to the Accounts

10 Tangible fixed assets

Cost or revaluation
At 1 September 2021
Additions
At 31 August 2022
Depreciation and
impairment
At 1 September 2021
Depreciation charge for the
year
At 31 August 2022
Net book values
At 31 August 2022
At 31 August 2021
11 Debtors
Trade debtors
12 Creditors:
amounts falling due within one year
Trade creditors
Other taxes and social security
Other creditors
Accruals
Deferred income
13 Movement in funds
Restricted funds:
Unrestricted funds:
General funds
Total funds		 2022
£
838
838
2022
£
9,904
618
506		 £
33,566
9,904
43,470
28,393
931
29,324
14,146
5,173		 £
33,566
9,904
43,470
28,393
931
29,324
14,146
5,173
2021
£
402
402
2021
£
-
711
-
6,360 10,132
1,350 1,350
At 1
September
2021
46,809
46,809		 18,738
Incoming
resources
(including
other
gains/losses
)
£
157,212
157,212		 Resources
expended
£
(145,207)
(145,207)		 12,193
At 31
August
2022
£
58,814
58,814

Page 12

Acorns Nursery School Notes to the Accounts

14 Analysis of net assets between funds

14 Analysis of net assets between funds
Fixed assets
Net current assets
15 Reconciliation of net debt
Cash and cash equivalents
Net debt		 Unrestricted
funds
£
14,146
50,470
64,616
At 1
September
2021
£		 Restricted
funds
£
-
(5,802)
(5,802)
Cash flows
£		 Total
£
14,146
44,668
58,814
At 31
August
2022
£
53,428 9,140 62,568
53,428
53,428		 9,140
9,140		 62,568
62,568
16 Commitments
Operating lease commitments
Annual commitments under non-cancellable operating leases
2022
Land and
buildings
£
Operating leases with expiry date:
Pension commitments
The pension cost charge to the charity
amounted to:		 are as follows:
2022
Other
£
2022
£
2,468		 2021
Land and
buildings
£		 2021
Other
£
2021
£
1,637

Page 13

Acorns Nursery School Statement of Cash flows for the year ended 31 August 2022

Cash flows from operating activities
Net income per Statement of Financial Activities
Adjustments for:
Depreciation of property, plant and equipment
Dividends, interest and rents from investments
Increase in trade and other receivables
Increase in trade and other payables
Net cash used in operating activities
Cash flows from investing activities
Payments for property, plant and equipment
Dividends, interest and rents from investments
Net cash from investing activities
Net cash from financing activities
Net increase 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		 2022
£
12,005
931
(66,245)
(436)
6,545
(47,200)
(9,904)
66,245
56,341
-
9,141
53,428
62,569		 2021
£
11,459
1,135
(24,746)
(402)
9,078
(3,476)
-
24,746
24,746
-
21,270
32,161
53,431
Components of cash and cash equivalents
Cash and bank balances 62,568 53,428
62,568 53,428

Page 14

Acorns Nursery School Detailed Statement of Financial Activities

for the year ended 31 August 2022

Income and endowments from:
Donations and legacies
Donations
Charitable activities
Fund raising
Other trading activities
Fees
Registrations
Discounts
Sweatshirts
Other
Grants
Covid Grants
Total income and endowments
Expenditure on:
Other expenditure
Educational Products
Employee costs
Salaries/wages
Employer's NIC
Pension costs
Staff training
Staff welfare
Premises costs
Rent
Premises cleaning
Premises repairs and
maintenance
General administrative costs,
including depreciation and
amortisation
Depreciation of		 Unrestricted
funds
2022
£
2,247
2,247
3,411
3,411
86,235
1,445
(3,129)
758
85,309
66,245
-
66,245
157,212
7,450
1,450
8,900
99,209
414
2,468
1,910
336
104,337
14,364
2,406
835
17,605
931		 Total funds
2022
£
2,247
2,247
3,411
3,411
86,235
1,445
(3,129)
758
85,309
66,245
-
66,245
157,212
7,450
1,450
8,900
99,209
414
2,468
1,910
336
104,337
14,364
2,406
835
17,605
931		 Total funds
2021
£
2,414
2,414
2,980
2,980
121,986
500
(2,361)
875
121,000
20,147
4,599
24,746
151,140
6,773
388
7,161
104,378
1,076
1,637
155
363
107,609
10,547
1,528
649
12,724
1,135

Page 15

Acorns Nursery School Detailed Statement of Financial Activities

Bank charges
General insurances
Postage and couriers
Software, IT support and related
costs
Subscriptions
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Audit/Independent examination
fees
Accountancy and bookkeeping
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net losses on investments
Net income
Net income before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 (6)
917
1,845
1,057
621
62
2,302
7,729
360
3,808
2,468
6,636
145,207
145,207
-
12,005
12,005
-
12,005
46,809
58,814		 (6)
917
1,845
1,057
621
62
2,302
7,729
360
3,808
2,468
6,636
145,207
145,207
-
12,005
12,005
-
12,005
46,809
58,814		 -
900
760
578
526
620
1,767
6,286
360
5,541
-
5,901
139,681
139,681
-
11,459
11,459
-
11,459
35,350
46,809

Page 16