REGISTERED CHARITY NUMBER: 1029589
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2022
for
The Heathers Nursery
Anglian Accountancy Services 2 Boundary Avenue Hellesdon Norwich NR6 5HY
The Heathers Nursery
Contents of the Financial Statements for the Year Ended 31 August 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 15 |
| Detailed Statement of Financial Activities | 16 to 17 |
The Heathers Nursery
Report of the Trustees for the Year Ended 31 August 2022
The trustees present their report with the financial statements of the charity for the year ended 31 August 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charities objects 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. It does this by the operation of a pre-school nursery.
Public benefit
The nursery is open to all children, without any catchment area, nationality, religious or other restriction, from when they are two and a half years old until they are able to enter infant school. Early Years funding was available for all children from the term following their third birthday until they were able to enter infant school and some children were eligible for funding from the term following their second birthday. No children are therefore excluded for financial reason.
Volunteers
The charity is reliant on volunteers in the carrying out of its activities, however measurement issues, including attributing an economic value to the contribution of the parent/guardian volunteers, prevent the inclusion of their contribution in the statement of financial activities.
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The Heathers Nursery
Report of the Trustees for the Year Ended 31 August 2022
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The year started with fewer children than usual, likely due to the Covid effect. Numbers increased rapidly in the Spring term with full days more popular than mornings. A decision was made to increase full day spaces to 30 per day (from 22) to help fill the morning sessions. This did present challenges with so many children staying for lunch with limited space for them to eat. Using both rooms for child lunches meant staff had to have scheduled breaks away from the children and the majority of staff had their lunch with the children.
Staff who had been affected by the Covid outbreak of 2020, returned to work in September and from maternity leave in July.
Christmas Story Café was again cancelled due to Covid restrictions on visitors into nursery.
A Covid outbreak among staff in January meant families were asked to keep children at home if they possibly could so that nursery could open for those families who needed it for work. We avoided having to close nursery at all this year.
The behaviour of children has remained difficult and support from external agencies was received. The levels of SEND within nursery have been the highest ever recorded and the amount of time the referrals, SALT, meetings etc took did have an impact on all staff, particularly for the manager and deputy manager.
A review of the outside area in Spring led to a grant application for artificial grass. Norfolk County Council awarded us the full £4,000 cost of the grass to be fitted in both playgrounds of the nursery during the Easter break, which has dramatically changed how the spaces are used by the children and staff.
Due diligence work with The Wensum Trust continued in the year with a view to joining in 2022/2023.
In June 2022, the water heater/boiler supplying hand washing water failed and was decommissioned. A new heater was fitted in August 2022, replacing the hand washing boiler and kitchen hot water boiler. This was financed from the building repair and replacement fund,
FINANCIAL REVIEW
Financial position
There was an increase in funds in the year of £324 (2021: increase: £819). Funds at the year end totalled £67,786 (2021: £67,462), of which £35,679 (2021: £35,149) related to the general fund and £32,107 (2021: £32,313) to the Building Repair and Replacement designated fund.
Principal funding sources
The principal source of funding during the year was from Norfolk Education grants and nursery fees.
Investment policy and objectives
The investment objectives are to achieve growth, whilst minimising risk. Surplus funds in the general fund are placed in a bank reserve account, together with the funds being accumulated in the building repair and replacement fund.
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The Heathers Nursery
Report of the Trustees for the Year Ended 31 August 2022
FINANCIAL REVIEW
Reserves policy
It is the policy of the trustees to maintain general funds, excluding those funds invested in fixed assets, at a level that equates to three months expenditure, a figure of approximately £38,000. This provides sufficient funds to cover salaries and other costs incurred in the event of a temporary reduction in income.
Free reserves (which excludes fixed assets) in the general fund at the year end amounted to £26,239 and it is the Committee's intention to continue to build free reserves to the required level.
Designated funds amounting to £32,107 have been put aside to provide for major classroom building repair costs as they arise and the eventual replacement of the classroom owned by the nursery. These funds could be used, if required, in the event of a temporary reduction in general reserves,
FUTURE PLANS
The committee will work with the staff team to ensure the nursery remains sustainable in view of the challenges the early year sector faces.
The committee will also continue to work on the move to The Wensum Trust and review the strategy for the future development of the nursery, including reviewing the useful life of the existing building owned by the nursery, and its possible replacement.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The Heathers Nursery, which was established in the 1970s, was registered as a charity on 2 December 1993 and is governed by a constitution adopted on 21 October 1993 and amended on 10 December 1997, 26 September 2002 and 18 October 2012.
Recruitment and appointment of new trustees
At least 60% of the trustees, including co-opted members, must be parents or guardians of children in the nursery. In the event that 60% cannot be achieved, then affiliate members may be elected. The trustees are elected for a period of one year at the annual general meeting. Retiring trustees are eligible for re-election unless they have already served as a trustee for 10 consecutive years.
Organisational structure
The charity has a committee (board of trustees) consisting of Chair, Secretary and Treasurer and not less than 2 nor more than 9 elected members. If the committee so decides, it may have not more than 3 members co-opted by the committee. The committee meets monthly and the day to day running of the nursery rests with the nursery manager, as assisted by twelve staff, together with unpaid helpers
Induction and training of new trustees
New trustees are encouraged to read the charity's constitution, the last financial statements of the charity and the Charity Commission guidance, CC3, 'The Essential Trustee: what you need to know, what you need to do' and the Charity Governance Code.
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The Heathers Nursery
Report of the Trustees for the Year Ended 31 August 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Key management remuneration
The key management personnel consists of the Nursery Manager and the Administration Manager. They are remunerated at a rate which is based on the prevailing rate for the sector.
Risk management
The trustees have reviewed and identified the risks that the nursery faces and have systems to monitor and control these risks to mitigate any impact they may have on the nursery in the future. These systems are reviewed on a regular basis.
.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1029589
Principal address
Bracken Avenue Hellesdon Norwich Norfolk NR6 6LS
Trustees
C Kiddell (Chairman) R Kettle K Barry-Winson (Treasurer) C Dagraca (Secretary) S Ford (resigned 24.11.21) M Chhetry (appointed 24.11.21) L Mortimer-Gray (appointed 24.11.21) F Johnson (appointed 24.11.21)
Independent Examiner
Nigel Whitlam Anglian Accountancy Services 2 Boundary Avenue Hellesdon Norwich NR6 5HY
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The Heathers Nursery
Report of the Trustees for the Year Ended 31 August 2022
Approved by order of the board of trustees on 20[th] October 2022 and signed on its behalf by:
............................................................ C Kiddell (Chairman) - Trustee
Page 5
Independent Examiner's Report to the Trustees of The Heathers Nursery
Independent examiner's report to the trustees of The Heathers Nursery
I report to the charity trustees on my examination of the accounts of The Heathers Nursery (the Trust) for the year ended 31 August 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all 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 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 Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts 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.
Nigel Whitlam Anglian Accountancy Services 2 Boundary Avenue Hellesdon Norwich NR6 5HY
Date: 1[st] November 2022
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The Heathers Nursery
Statement of Financial Activities for the Year Ended 31 August 2022
| 31.8.22 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 327 Charitable activities Nursery operations 149,066 Other trading activities 2 2,557 Investment income 3 30 Total 151,980 EXPENDITURE ON Raising funds 72 Charitable activities Nursery operations 151,584 Total 151,656 NET INCOME 324 RECONCILIATION OF FUNDS Total funds brought forward 67,462 TOTAL FUNDS CARRIED FORWARD 67,786 |
31.8.21 Total funds £ 1,000 152,567 3,382 10 |
|---|---|
| 156,959 | |
| 35 156,105 |
|
| 156,140 | |
| 819 66,643 |
|
| 67,462 |
The notes form part of these financial statements
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The Heathers Nursery
Balance Sheet 31 August 2022
| 31.8.22 Unrestricted funds Notes £ FIXED ASSETS Tangible assets 8 10,385 CURRENT ASSETS Cash at bank and in hand 58,179 CREDITORS Amounts falling due within one year 9 (778) NET CURRENT ASSETS 57,401 TOTAL ASSETS LESS CURRENT LIABILITIES 67,786 NET ASSETS 67,786 FUNDS 11 Unrestricted funds 67,786 TOTAL FUNDS 67,786 |
31.8.21 Total funds £ 8,359 59,558 (455) 59,103 67,462 67,462 67,462 67,462 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 20[th] October 2022 and were signed on its behalf by:
.............................................
C Kiddell (Chairman) - Trustee
The notes form part of these financial statements
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The Heathers Nursery
Notes to the Financial Statements for the Year Ended 31 August 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment
- 20% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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continued...
The Heathers Nursery
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 31.8.22 | 31.8.21 | ||
| £ | £ | ||
| Fundraising events | 2,037 | 1,527 | |
| Training income | 520 | 1,855 | |
| 2,557 | 3,382 | ||
| 3. | INVESTMENT INCOME | ||
| 31.8.22 | 31.8.21 | ||
| £ | £ | ||
| Bank interest receivable | 30 | 10 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.
5. STAFF COSTS
| Wages and salaries Other pension costs |
31.8.22 £ 126,609 1,544 128,153 |
31.8.21 £ 128,881 1,561 130,442 |
|---|---|---|
The average monthly number of employees during the year was as follows:
| Direct Administration |
31.8.22 14 1 15 |
31.8.21 12 1 13 |
|---|---|---|
No employees received emoluments in excess of £60,000.
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The Heathers Nursery
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |
|---|---|---|
| Unrestricted | ||
| funds | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 1,000 | |
| Charitable activities | ||
| Nursery operations | 152,567 | |
| Other trading activities | 3,382 | |
| Investment income | 10 | |
| Total | 156,959 | |
| EXPENDITURE ON | ||
| Raising funds | 35 | |
| Charitable activities | ||
| Nursery operations | 156,105 | |
| Total | 156,140 | |
| NET INCOME | 819 | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 66,643 | |
| TOTAL FUNDS CARRIED FORWARD | 67,462 |
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The Heathers Nursery
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
7. GOING CONCERN
There are no material uncertainties about the charity's ability to continue.
8. TANGIBLE FIXED ASSETS
| Short leasehold (Classroom) Equipment £ £ COST At 1 September 2021 40,957 18,927 Additions - 6,168 Disposals - (4,387) At 31 August 2022 40,957 20,708 DEPRECIATION At 1 September 2021 40,957 10,568 Charge for year - 4,142 Eliminated on disposal - (4,387) At 31 August 2022 40,957 10,323 NET BOOK VALUE At 31 August 2022 - 10,385 At 31 August 2021 - 8,359 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.22 £ Taxation and social security 308 Other creditors 470 778 |
Short leasehold (Classroom) Equipment £ £ COST At 1 September 2021 40,957 18,927 Additions - 6,168 Disposals - (4,387) At 31 August 2022 40,957 20,708 DEPRECIATION At 1 September 2021 40,957 10,568 Charge for year - 4,142 Eliminated on disposal - (4,387) At 31 August 2022 40,957 10,323 NET BOOK VALUE At 31 August 2022 - 10,385 At 31 August 2021 - 8,359 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.22 £ Taxation and social security 308 Other creditors 470 778 |
Totals £ 59,884 6,168 (4,387) 61,665 51,525 4,142 (4,387) 51,280 10,385 8,359 31.8.21 £ - 455 455 |
|---|---|---|
| 31.8.22 £ 308 470 778 |
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The Heathers Nursery
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
10. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| 31.8.22 | 31.8.21 | |
|---|---|---|
| £ | £ | |
| Within one year | 800 | 800 |
| Between one and five years | 2,400 | 3,200 |
| 3,200 | 4,000 |
11. MOVEMENT IN FUNDS
| Unrestricted funds General fund Building repair and replacement fund TOTAL FUNDS |
Net movement At 1.9.21 in funds £ £ 35,149 530 32,313 (206) 67,462 324 67,462 324 |
At 31.8.22 £ 35,679 32,107 67,786 67,786 |
|---|---|---|
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Building repair and replacement fund TOTAL FUNDS |
Incoming resources £ 151,950 30 151,980 151,980 |
Resources expended £ (151,420) (236) (151,656) (151,656) |
Movement in funds £ 530 (206) 324 324 |
|---|---|---|---|
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The Heathers Nursery
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1.9.20 in funds £ £ Unrestricted funds General fund 34,337 812 Building repair and replacement fund 32,306 7 66,643 819 TOTAL FUNDS 66,643 819 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 156,952 (156,140) Building repair and replacement fund 7 - 156,959 (156,140) TOTAL FUNDS 156,959 (156,140) A current year 12 months and prior year 12 months combined position is as follows: Net movement At 1.9.20 in funds £ £ Unrestricted funds General fund 34,337 1,342 Building repair and replacement fund 32,306 (199) 66,643 1,143 TOTAL FUNDS 66,643 1,143 |
At 31.8.21 £ 35,149 32,313 67,462 67,462 Movement in funds £ 812 7 819 819 At 31.8.22 £ 35,679 32,107 67,786 67,786 |
|---|---|
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The Heathers Nursery
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Building repair and replacement fund TOTAL FUNDS |
Incoming resources £ 308,902 37 308,939 308,939 |
Resources expended £ (307,560) (236) (307,796) (307,796) |
Movement in funds £ 1,342 (199) 1,143 1,143 |
|---|---|---|---|
12. RELATED PARTY DISCLOSURES
There were no related party disclosures for the year ended 31 August 2021.
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The Heathers Nursery
Detailed Statement of Financial Activities for the Year Ended 31 August 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Other trading activities Fundraising events Training income Investment income Bank interest receivable Charitable activities Nursery fees Norfolk Education grants Total incoming resources EXPENDITURE Raising donations and legacies Fundraising Charitable activities Staff salaries Pensions Rent, rates and insurance Light and heat Sundries Courses Subscriptions Outings and parties Repairs and renewals Consumables Administration Carried forward |
31.8.22 £ 327 2,037 520 2,557 30 12,830 136,236 149,066 151,980 72 123,504 1,544 5,699 1,411 2,034 1,822 425 170 1,744 2,735 2,590 143,678 |
31.8.21 £ 1,000 1,527 1,855 3,382 10 5,553 147,014 152,567 156,959 35 125,618 1,561 4,575 1,139 1,436 2,709 514 - 4,847 2,813 3,268 148,480 |
|---|---|---|
This page does not form part of the statutory financial statements
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The Heathers Nursery
| Detailed Statement of Financial Activities for the Year Ended 31 August 2022 Charitable activities Brought forward EYPP expenditure Depreciation of equipment Support costs Governance costs Staff salaries Accountancy and legal fees Total resources expended Net income |
31.8.22 £ 143,678 189 4,142 148,009 3,105 470 3,575 151,656 324 |
31.8.21 £ 148,480 120 3,787 152,387 3,263 455 3,718 156,140 819 |
|---|---|---|
This page does not form part of the statutory financial statements
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