CHARITY REGISTRATION NUMBER: 1029276
East Harptree Nursery Pre-school Unaudited Financial Statements
31 August 2024
CHARLTON BAKER LIMITED
Chartered accountants 7-7c Snuff Street Devizes Wiltshire England SN10 1DU
East Harptree Nursery Pre-school
Financial Statements
Year ended 31 August 2024
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 8 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 18 |
| Notes to the detailed statement of financial activities | 20 |
East Harptree Nursery Pre-school
Trustees' Annual Report
Year ended 31 August 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 August 2024.
Objectives and activities
The charitable objectives of the charity are to enhance the development and education of children under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups.
The aim of East Harptree Nursery is to enhance the development and education of children under the statutory school age. All children are given the opportunity to select from a wide range of activities each day including using the outside area attached to the setting.
The Nursery does operate a Forest School in the nearby Harptree Court, alongside a range of other extra curriculum activities.
The Nursery regularly achieves standards above the national average. In the most recent OFSTED review in January 2020, it retained the Good rating previously awarded. This is a deserved reflection on the consistent hard work and the quality of the service provided by the entire team.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Various activities were organised including a Halloween disco and Easter trail, which raised £770. This was used to purchase resources for the setting.
Financial review
The total income for the year ending 31 August 2024 was £377,854 (2023: £315,043) The surplus for the year was £32,555 (2023: £10,920). A surplus had been built up in previous years to help with the costs of renovating the ground floor of the Village Hall. From September 2022, the new setting has allowed for an increase in child numbers to meet the demand from the local area. Children as young as 6 months can now be cared for during the extended opening hours which includes 10 weeks of the school holidays.
At 31 August 2024 the charity had net assets of £140,489 (2023: £107,934).
Maintaining an annual surplus is critical to the long-term management strategy of the nursery. As the extended opening hours are now more widely known, the number of children being cared for has steadily grown. The Management Team are well aware that the local authority funding from Bath & North East Somerset Early Years Education Services may not always be adequate to cover the associated hourly costs. It regularly reviews the ongoing fees and charges in order to protect the Nursery’s long-term financial position.
1
East Harptree Nursery Pre-school
Trustees' Annual Report (continued)
Year ended 31 August 2024
Financial review (continued)
The Nursery has a hard-working dedicated staff team but also has the support from parent volunteers in some of the aspects of the day-to-day running of the Nursery. Parent volunteers are also involved in running fundraising events.
Reserves Policy
The trustees aim to maintain a minimum of 3 months of staff salaries in reserve as a buffer against unexpected events.
At 31 August 2024, the charity had reserves equivalent to 6.6 months (2023: 5.4 months) salary costs.
Plans for future periods
New Academic/Financial Year 2024/25
The number of children in setting is nearly at the maximum level that the Management Team regard as being appropriate. They want to continue to provide a high-quality experience for all of the children.
In April 2024, the local authority funding was extended to include 2-year-olds. Eligible working parents are able to access up to 15 hours per week of free childcare during term time. The provision of free hours for 3 to 5-year-olds continues, with eligible parents able to access up to 30 hours per week during term time.
In September 2024, the free hours for eligible working parents will be extended to include children aged 9 months up to 2 years.
From September 2025, children of eligible working parents aged 9 months up to 3 years will be able to access up to 30 hours of free childcare during term time.
The Management Team is aware of the possible shortfall that may occur between the monies received in funding from the local authority and the on-going hourly costs. The Nursery will strive to continue to provide an enriching, happy environment for all of the children in its care
Structure, governance and management
The charity is an unincorpoated charity. The Nursey started in December 1982, and became a registered charity on 29 November 1993. The Nursery operates under the “Preschool Learning Alliance” constitution. The constitution was adopted 10 December 1982 and amended on; 7 October 1993, and 13 June 2024.
2
East Harptree Nursery Pre-school
Trustees' Annual Report (continued)
Year ended 31 August 2024
Reference and administrative details
Registered charity name East Harptree Nursery Pre-school Charity registration number 1029276 Principal office The Theatre Middle Street East Harptree Bristol BS40 6AZ United Kingdom The trustees Martha Carter Sara Readman (Appointed 2 October 2023) Mark Gill Elizabeth Banfield (Resigned 21 October 2024) Gillian Hickling Jessica Sheldon Eleanor Hall (Appointed 25 April 2024) Bethany Haylor (Resigned 18 December 2024)
Recruitment and appointment of trustees
The trustees are all volunteers and are nominated by parents, carers and staff.
The Committee along with the Manager meet at least six times per year as well as the annual AGM. In addition, a sub.committee meets throughout the year as required to organise fundraising events.
The management team comprises:
-
Jessica Sheldon - Manager
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Philippa James - Deputy Manager (resigned January 2024)
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Elaine Fry - Deputy Manager (appointed February 2024)
East Harptree Nursery is situated in the village of East Harptree on the edge of the Chew Valley and the Mendip Hills south of Bristol.
The Nursery is open 48 weeks per year, from 8.00am to 6.00pm Monday – Thursday and 8.00am to 5.00pm on Fridays. It takes children from the age of 6 months to 5 years in a recently renovated dedicated setting.
Independent examiner
Charlton Baker Limited 7-7c Snuff Street Devizes Wiltshire England SN10 1DU
3
East Harptree Nursery Pre-school
Trustees' Annual Report (continued)
Year ended 31 August 2024
The trustees' annual report was approved on 16 June 2025 and signed on behalf of the board of trustees by:
Martha Carter Trustee
4
East Harptree Nursery Pre-school
Independent Examiner's Report to the Trustees of East Harptree Nursery Preschool
Year ended 31 August 2024
I report to the trustees on my examination of the financial statements of East Harptree Nursery Preschool ('the charity') for the year ended 31 August 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
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
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I 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:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do 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.
Charlton Baker Limited Independent Examiner
7-7c Snuff Street Devizes Wiltshire England SN10 1DU
5
East Harptree Nursery Pre-school
Statement of Financial Activities
Year ended 31 August 2024
| 2024 | 2024 | 2023 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 1,095 | 1,095 | 937 |
| Charitable activities | 5 | 376,671 | 376,671 | 314,042 |
| Investment income | 6 | 88 | 88 | 64 |
|
|
|
||
| Total income | 377,854 | 377,854 | 315,043 | |
|
|
|
||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Costs of raising donations and legacies | 7 | 59 | 59 | 641 |
| Expenditure on charitable activities | 8,9 | 343,818 | 343,818 | 303,482 |
|
|
|
||
| Total expenditure | 343,877 | 343,877 | 304,123 | |
|
|
|
||
|
|
|
||
| Net income and net movement in funds | 33,977 | 33,977 | 10,920 | |
|
|
|
||
| Reconciliation of funds | ||||
| Total funds brought forward | 107,934 | 107,934 | 97,014 | |
|
|
|
||
| Total funds carried forward | 141,911 | 141,911 | 107,934 | |
|
|
|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 16 form part of these financial statements.
6
East Harptree Nursery Pre-school
Statement of Financial Position
31 August 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 15 | 61,204 | 68,376 |
| Current assets | |||
| Stocks | 16 | – | 300 |
| Debtors | 17 | 18,255 | 20,997 |
| Cash at bank and in hand | 150,080 | 83,500 | |
|
|
||
| 168,335 | 104,797 | ||
| Creditors: amounts falling due within one year | 18 | 70,545 | 45,656 |
|
|
||
| Net current assets | 97,790 | 59,141 | |
|
|
||
| Total assets less current liabilities | 158,994 | 127,517 | |
| Creditors: amounts falling due after more than one year | 19 | 17,083 | 19,583 |
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|
||
| Net assets | 141,911 | 107,934 | |
|
|
||
| Funds of the charity | |||
| Unrestricted funds | 141,911 | 107,934 | |
|
|
||
| Total charity funds | 22 | 141,911 | 107,934 |
|
|
These financial statements were approved by the board of trustees and authorised for issue on 16 June 2025, and are signed on behalf of the board by:
Martha Carter Trustee
The notes on pages 8 to 16 form part of these financial statements.
7
East Harptree Nursery Pre-school
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is The Theatre, Middle Street, East Harptree, Bristol, DS40 6AZ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Disclosure exemptions
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
Judgements and key sources of estimation uncertainty
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The trustees use their knowledge of the charity to estimate the useful life and residual of tangible fixed assets in order to arrive at applicable depreciation rates. In accordance with section 17 of FRS02, the trustees review and update these estimates if there are indicators that current estimates should change. During the year there was no change in the depreciation rates.
8
East Harptree Nursery Pre-school
Notes to the Financial Statements (continued)
Year ended 31 August 2024
3. Accounting policies (continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Resources expended
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
9
East Harptree Nursery Pre-school
Notes to the Financial Statements (continued)
Year ended 31 August 2024
3. Accounting policies (continued)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Leasehold improvements | - | 5-10 years straight line |
|---|---|---|
| Fixtures and fittings | - | 5 years straight line |
| Computers | - | 3 years straight line |
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
10
East Harptree Nursery Pre-school
Notes to the Financial Statements (continued)
Year ended 31 August 2024
3. Accounting policies (continued)
Financial instruments (continued)
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 1,095 | 1,095 | 937 | 937 | |
|
|
|
|
||
| 5. | Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Government funding for fees | 131,672 | 131,672 | 122,473 | 122,473 | |
| Private fee income | 244,999 | 244,999 | 191,569 | 191,569 | |
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|
|
|
||
| 376,671 | 376,671 | 314,042 | 314,042 | ||
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|
|
11
East Harptree Nursery Pre-school
Notes to the Financial Statements (continued)
Year ended 31 August 2024
6. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 88 | 88 | 64 | 64 | |
|
|
|
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||
| 7. | Costs of raising donations and | legacies | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Fundraising costs | 59 | 59 | 641 | 641 | |
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| 8. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Direct costs | 333,869 | 333,869 | 290,874 | 290,874 | |
| Support costs | 9,949 | 9,949 | 12,608 | 12,608 | |
|
|
|
|
||
| 343,818 | 343,818 | 303,482 | 303,482 | ||
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| 9. | Expenditure on charitable activities by activity type | ||||
| Activities | |||||
| undertaken | Total funds | Total fund | |||
| directly | Support costs | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Direct costs | 333,869 | 6,807 | 340,676 | 295,265 | |
| Governance costs | – | 3,142 | 3,142 | 8,217 | |
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| 333,869 | 9,949 | 343,818 | 303,482 | ||
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| 10. | Analysis of support costs | ||||
| Support costs | Total 2024 | Total 2023 | |||
| £ | £ | £ | |||
| Insurance | 1,586 | 1,586 | 1,061 | ||
| Legal and professional fees | 4,847 | 4,847 | 3,183 | ||
| Subscriptions | 374 | 374 | 147 | ||
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| 6,807 | 6,807 | 4,391 | |||
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|
|
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East Harptree Nursery Pre-school
Notes to the Financial Statements (continued)
Year ended 31 August 2024
11. Net income
Net income is stated after charging/(crediting):
| Net income is stated after charging/(crediting): | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Depreciation of tangible fixed assets | 8,801 | 8,601 |
| Fees payable for the audit of the financial statements | 1,438 | 2,402 |
|
|
|
| Independent examination fees | ||
| 2024 | 2023 | |
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 1,440 |
2,400 |
12. Independent examination fees
In addition are fees payable to the independent examiner of £1,704 (2023: £2,220) in respect of accountancy services and £nil (2023: £3,595) for other services.
13. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 239,691 | 230,276 |
| Social security costs | 13,777 | 6,345 |
| Employer contributions to pension plans | 3,970 | 3,770 |
| Other employee benefits | 4,003 | 1,832 |
|
|
|
| 261,441 | 242,223 | |
|
|
The average head count of employees during the year was 19 (2023: 17).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £55,236 (2023:£46,851).
14. Trustee remuneration and expenses
None of the trustees (or any persons connected with them) received any benefits or reimbursed expenses from the charity during the year.
One trustee was paid remuneration of £29,105 (2023: £26,775) in relation to their role of manager of the nursery.
13
East Harptree Nursery Pre-school
Notes to the Financial Statements (continued)
Year ended 31 August 2024
15. Tangible fixed assets
| Long | |||||
|---|---|---|---|---|---|
| leasehold | Fixtures and | ||||
| property | fittings | Equipment | Total | ||
| £ | £ | £ | £ | ||
| Cost | |||||
| At 1 September 2023 | 75,834 | 960 | 600 | 77,394 | |
| Additions | – | 786 | 843 | 1,629 | |
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||
| At 31 August 2024 | 75,834 | 1,746 | 1,443 | 79,023 | |
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| Depreciation | |||||
| At 1 September 2023 | 8,626 | 192 | 200 | 9,018 | |
| Charge for the year | 7,792 | 528 | 481 | 8,801 | |
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||
| At 31 August 2024 | 16,418 | 720 | 681 | 17,819 | |
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| Carrying amount | |||||
| At 31 August 2024 | 59,416 | 1,026 | 762 | 61,204 | |
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| At 31 August 2023 | 67,208 | 768 | 400 | 68,376 | |
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| 16. | Stocks | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Raw materials and consumables | – | 300 | |||
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||||
| 17. | Debtors | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Trade debtors | 16,035 | 9,562 | |||
| Prepayments and accrued income | 2,220 | 11,435 | |||
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||||
| 18,255 | 20,997 | ||||
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||||
| 18. | Creditors: amounts falling due within one year | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Bank loans and overdrafts | 2,500 | 2,500 | |||
| Trade creditors | 8,866 | 11,905 | |||
| Accruals and deferred income | 52,037 | 26,742 | |||
| Social security and other taxes | 7,142 | 4,509 | |||
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||||
| 70,545 | 45,656 | ||||
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||||
| 19. | Creditors: amounts falling due after more than one | year | |||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Bank loans and overdrafts | 17,083 | 19,583 | |||
|
|
14
East Harptree Nursery Pre-school
Notes to the Financial Statements (continued)
Year ended 31 August 2024
19. Creditors: amounts falling due after more than one year (continued)
Included within creditors: amounts falling due after more than one year is an amount of £7,084 (2023: £9,584) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The loan was made on a free-interest basis, and is repayable in monthly instalments. The loan is not secured.
20. Deferred income
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Amount deferred in year | 43,078 |
18,527 |
21. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £3,970 (2023: £3,770).
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
At the year end, the charity had outstanding commitments of £966 in relation to the pension contribution scheme (2023: £806).
22. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | At | |||||
| 1 | September | 31 August | 20 | |||
| 2023 | Income | Expenditure | 24 | |||
| £ | £ | £ | £ | |||
| General funds | 107,934 | 377,854 | (343,877) | 141,911 | ||
|
|
|
|
|||
| At | At | |||||
| 1 | September | 31 August | 20 | |||
| 2022 | Income | Expenditure | 23 | |||
| £ | £ | £ | £ | |||
| General funds | 97,014 |
315,043 |
(304,123) |
107,934 |
15
East Harptree Nursery Pre-school
Notes to the Financial Statements (continued)
Year ended 31 August 2024
23. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2024 | |
| £ | £ | |
| Tangible fixed assets | 61,204 | 61,204 |
| Current assets | 168,335 | 168,335 |
| Creditors less than 1 year | (70,545) | (70,545) |
| Creditors greater than 1 year | (17,083) | (17,083) |
|
|
|
| Net assets | 141,911 | 141,911 |
|
|
|
| Unrestricted | Total Funds | |
| Funds | 2023 | |
| £ | £ | |
| Tangible fixed assets | 68,376 | 68,376 |
| Current assets | 104,796 | 104,796 |
| Creditors less than 1 year | (45,655) | (45,655) |
| Creditors greater than 1 year | (19,583) | (19,583) |
|
|
|
| Net assets | 107,934 | 107,934 |
|
|
24. Operating lease commitments
The total future minimum lease payments under non-cancellable operating leases are as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Not later than 1 year | 9,500 | 9,500 |
| Later than 1 year and not later than 5 years | 38,000 | 38,000 |
| Later than 5 years | 28,500 | 38,000 |
|
|
|
| 76,000 | 85,500 | |
|
|
Lease payments of £9,500 were recognised as charitable expenditure in the year.
25. Related parties
During the year payments of £2,021 (2023: £262) were paid to Gill Financial Control Solutions, a business owned by Mrs L Gill, the wife of a trustee, for bookkeeping services. A balance of £140 (2023: £140) was owed to the business at 31 August 2024 and is included in trade creditors.
Aggregate compensation of key management personnel is disclosed in the employees note.
16
East Harptree Nursery Pre-school
Management Information
Year ended 31 August 2024
The following pages do not form part of the financial statements.
17
East Harptree Nursery Pre-school
Detailed Statement of Financial Activities
Year ended 31 August 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | 1,095 | 937 |
|
|
|
| Charitable activities | ||
| Government funding for fees | 131,672 | 122,473 |
| Private fee income | 244,999 | 191,569 |
|
|
|
| 376,671 | 314,042 | |
|
|
|
| Investment income | ||
| Bank interest receivable | 88 | 64 |
|
|
|
|
|
|
| Total income | 377,854 | 315,043 |
|
|
|
| Expenditure | ||
| Costs of raising donations and legacies | ||
| Purchases | 59 | 641 |
|
|
|
| Expenditure on charitable activities | ||
| Wages and salaries | 239,691 | 230,276 |
| Employer's NIC | 13,777 | 6,345 |
| Pension costs | 3,970 | 3,770 |
| Other post-retirement benefits | 4,003 | 1,832 |
| Rent | 12,882 | 17,378 |
| Light and heat | 2,557 | 2,102 |
| Repairs and maintenance | 14,919 | 1,003 |
| Insurance | 1,586 | 1,061 |
| Other establishment | 3,108 | 8,002 |
| Other motor/travel costs | 109 | – |
| Legal and professional fees | 7,989 | 11,400 |
| Telephone | 898 | 897 |
| Other office costs | 2,014 | 1,643 |
| Depreciation | 8,801 | 8,601 |
| Impairment | – | 202 |
| Other interest payable and similar charges | 60 | 94 |
| Child experience | 18,380 | 5,511 |
| Play equipment | 4,838 | 1,884 |
| Computer software | 3,862 | 1,334 |
| Subscriptions | 374 | 147 |
|
|
|
| 343,818 | 303,482 | |
|
|
|
|
|
|
| Total expenditure | 343,877 |
304,123 |
18
Detailed Statement of Financial Activities (continued)
East Harptree Nursery Pre-school
Year ended 31 August 2024
Net income
| 2024 | 2023 |
|---|---|
| £ | £ |
|
|
| 33,977 | 10,920 |
|
|
19
East Harptree Nursery Pre-school
Notes to the Detailed Statement of Financial Activities
Year ended 31 August 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Costs of raising donations and legacies | ||
| Fundraising costs | ||
| Fundraising costs | 59 | 641 |
|
|
|
|
|
|
| Costs of raising donations and legacies | 59 | 641 |
|
|
|
| Expenditure on charitable activities | ||
| Direct costs | ||
| Activities undertaken directly | ||
| Wages/salaries | 239,691 | 230,276 |
| Employer's NIC | 13,777 | 6,345 |
| Pension costs | 3,970 | 3,770 |
| Other employee benefits | 4,003 | 1,832 |
| Rent | 12,882 | 17,378 |
| Light & heat | 2,557 | 2,102 |
| Repairs & maintenance | 14,919 | 1,003 |
| Cleaning | 3,108 | 8,002 |
| Travel costs | 109 | – |
| Telephone | 898 | 897 |
| Printing, postage, stationery and advertising | 2,014 | 1,643 |
| Depreciation | 8,801 | 8,601 |
| Bad debt expense | – | 202 |
| Bank fees | 60 | 94 |
| Child experience | 18,380 | 5,511 |
| Play equipment | 4,838 | 1,884 |
| Computer software | 3,862 | 1,334 |
|
|
|
| 333,869 | 290,874 | |
|
|
|
| Support costs | ||
| Insurance | 1,586 | 1,061 |
| Legal and professional fees | 4,847 | 3,183 |
| Subscriptions | 374 | 147 |
|
|
|
| 6,807 | 4,391 | |
|
|
|
| Governance costs | ||
| Accountancy fees | 1,704 | 5,815 |
| Independent examiner fees | 1,438 | 2,402 |
|
|
|
| 3,142 | 8,217 | |
|
|
|
|
|
|
| Expenditure on charitable activities | 343,818 | 303,482 |
|
|
20