2023-03-31-accounts - The Mall Nursery And Creche

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The Mall Nursery and Creche Registered Charity Number 1031348

TRUSTEES' ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Miller & Co Chartered Accountants Statutory Auditors 5 Imperial Court Laporte Way Luton, Bedfordshire LU4 8FE

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The Mall Nursery and Creche
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CONTENTS
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Letter from our Chair Pages 1-2 Treasurer's Report Page 3 Charity Trustees and Administrative Information Page 4 Trustees’ Report Pages 5-16 Independent Examiner's Report Page 17-18 Financial Statements Pages 19-30

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i The Mall Nursery and Creche CHAIRPERSON’S REPORT 2022/2023

Firstly, | must thank all of the staff for their hard work and support of the children, families and community during this last year. This could not have been done without their dedication and commitment.

What follows is a summary. of what has been happening at the nursery over the last year. For further details for each section please refer to the Trustee's report and the Treasurer's report.

Thishas been a busy year for the Nursery. There has been a consistently large waiting list-and tumover of children. Which is a testament to how the nursery is viewed in the cormmunity. This has been supported by the feedback that has been provided by parents/carers on the daynurseries.co.uk website - (https:/Awww.daynurseries.co.uk/daynursety.ciri/searchazref/50001 016ARNA) These have been very positive for all aspects of the nursery.

There have been several Stay and Play Sessions to support the parents in play and interaction with their children and at the same time see how the nursery operates during a session.

Recruitment has gone well this year where necessary and training and development of the staff continue to be well managed.

The nursery has been able to secure funding to expand the space that is used for the children. This is ongoing.

The nursery continues to support families that are in particular need, in various ways.

Development of nursery resources | This is an ongoing aspect of the nursery. The children have access to various resources and experiences within the setting, this includes outside play where they can garden and inside activities including child-initiated activities and some aduit-ied ones. Resources are replenished as necessary and as the nursery achieved the Eco award last year, recycled materials are also encouraged in activities.

| have visited the Nursery many times during the past year both announced and unannounced. The nursery is always busy, and the children are engaged in various activities. The children respond well to me as do the staff.

The Nursery continues to support local colleges with industry placements for childcare students. This is valuable for both sides but particularly allows us to influence the workforce of the future. They are supportive of the practical aspects of the courses and there are good links with the relevant people in the college. A student rep has been appointed to support the students with their work and for them and the college to have a specific link.

Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348 Page 4

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a . 7 The Mall Nursery and Creche
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The targets that were set last year have mostly been achieved. There are two areas that we should be able to achieve by next year.

We would have liked to have taken on the additional unit, however as stated previously there were some difficulties achieving this, for further information, please see the trustee's report.

We continue to encourage more parents/carers to become members of the committee, this is an ongoing area of development. There are various planned strategies to help with this.

Finances are very good at present please see the treasurers report for further information.

Overall it has been a very good year, the nursery continues to operate successfully under strong leadership. By the next annual report, we should have access to the additional unit so that we can provide even more services for the community.

YvetteWatson Chairperson

30 January 2024

Unit 35, The Mall LU1 2TW., Telephone 01582 458545 Registered Charity Number 1031348

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The Mall Nursery and Creche

TREASURER'S REPORT 2022/2023

The financial year for The Mall Nursery & Creche runs from April 18 to March 31%

The success of the Mall Nursery & Creche relies upon parents choosing to place their children in the care of the management and staff at the nursery. 1am delighted to say that daycare child numbers exceeded expectations as did the demand for extended and casual stay. We were able to accommodate this increased demand with only a small increase in staffing costs. The overall result being an operating surplus for the year. This puts the Mall Nursery & Creche in a strong position fo carry out our plans to expand into an adjoining unit in the Mail. It will require significant capital expenditure and a commitment to additional rental costs but the trustees and management are corifident that our childcare reputation and demand for the service will ensure future viability.

Tammy and Michel maintain strong control over ail costs and are supported a team of practitioners who provide a professional and efficient childcare service. A good example of cost savings is the work that has been undertaken to reduce electricity consumption which is now significantly below expectations. Jen monitors and records expenditure, payroll, etc to ensure that the management team and trustees are kept fully up to date.

| would like to thank Brian Cox and his colleagues at Miller and Co who have independently examined our accounts now for a number of years. In addition, Brian has been extremely hélpful in guiding us through our annual reporting and giving us confidence in our accounting procedures and controls. ,

Brian McFarland Honorary Treasurer 30 January 2024

Unit 35, The Mall LUt 2TW. Telephone 01582 458545 Registered Charity Number 1031348

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The Mall Nursery and Creche

CHARITY TRUSTEES & ADMINISTRATIVE INFORMATION

Management Committee Officers

e Chair — Yvette Watson (Appointed Chair January 2019) e Treasurer — Brian McFarland (Appointed Treasurer September 2007) e Secretary — Jennifer Drummond (Appointed December 2021)
e Tracey Bateman Appointed March 16 * Roy Andrew Greening Appointed June 16
¢ Nursery Manager — Tammy Treagus — BA Hons Child and Adolescents Level 6 (Appointed July 2018)
« Nursery Deputy Manager — Michele Baulcombe (Appointed March 2019) * Room Leader= Shanel Walker (Appointed March 2021, previously Early Years Practitioner appointed March 2019)
- Room Leader — Michelle Gibson (Appointed September 2022) ¢ Business and Finance Assistant -— Jennifer Drummond. (Appointed November 2015)
- 17 Early Years Practitioners * 2 arly Years Appentices

e HSBC,-63 George Street, Luton LU1 2AP

Independent Examiner

e Roger Cox — Miller & Co Chartered Accountants, 5 Imperial Court, Laporte Way, Luton, Beds LU4 8FE

Unit 35, The Mail LU1 2TW. Telephone 01582 458545 Ragistered Charity Number 1031348

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The Mall Nursery and Creche

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023

The trustees present their report along with the financial statements of the charity for the financial year ended 31st March 2023. The trustees have adopted the provisions of theStatement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting . policies set out in note 1 to the accounts and comply with the Charity’s constitution, the Charities Act and 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 published in October 2019.

Structure, Governance and Management

The Mali Nursery and Créche is an unincorporated charity registered in England and Wales, constituted under the Early Years Alliance Model Pre-school Constitution 2011 dated September 2012.

The trustees comprise management committee officers and management committee members as shown on the Charity Trustees and Administrative Information page. Management committee members are elected by members of the charity (parents of users of the Nursery) at fhe Annual General Meeting each year. Trustees also have the powerto co-opt additional trustees as defined in the constitution.

The management committee has the power to raise money, employ staff, fix fees and make payments for the charity. The committee employed a manager, and a deputy manager to administer the day to day running of the charity, althoughthe management committee retains overall authority in administering the charity finances and:decisionmaking processes. As a nursery, we work closely with the local authority who monitor the input of the partner agencies involved in delivering the additional services from the nursery, they and thé Early Years Alliance also act as advisors to our management committee.

Remuneration of key management and bonuses to ail staff is set by the Personnel & Finance Committee consisting of the Chairman, Secretary and: Treasurer. This subcommittee also carries out performance reviews of key personnel. Salaries are set using information from local settings as well'those in the local authority. Living wage/ minimum wage will be taken into consideration and will reflect the age and role of the employee. The total salaries costs for the setting are then fed:into the budget for the coming year to ensure there is viability and sustainability.

Trustees’ Induction and Training

Induction for new members of the management committee includes meetings with existing management committee officers and members, and information on governance, powers and responsibilities, recent minutes, annual report, our trust deed and the Charity Commission's guidance including “The Essential Trustee: What you Need to Know’ and “Public Benefit”. Management committee members are supported by training and advice from Early Years Alliance. Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348

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The Mall Nursery and Creche

When recruiting and appointing new trustee members several factors are taken into consideration. To actively encourage parent participation within the committee advertisements have been placed in the nursery reception, these highlight the significances that parent contributions and views have when reflecting on aspects that could be adapted and altered to further improve the nursery. New trustees are voted in at the yearly AGM meetings, they require 3 votes to be elected. Following these steps ensures it is a fairer process for selection and remains unbiased. After trustee members have been appointed a DBS check will be conducted and an EY2 Form will be completed to inform Ofsted of new committee members.

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Risk|Management|.| |The|charity|trustees|have|considered|the|major|risks|to which the|charity|is exposed| |arid|have|reviewed|those|risks|and|established|systems|and|procedures|to|manage| |those|risks.| |(Finance|Risk|||Methodsiskto|minimise| || Fafl in numbers of|||Monitoring|of numbers to ensure|running|at full||| |||children and families|| occupancy.|a| |||attending.|Amarketing strategy,||| |||||Maintain close working relationship with the local||| |To éffér flexible hour and session times.|:| |||Ensure|we maintain a|good|reputation.|:| |Leng|ong|sustainability fundiesetve|iskept _.|| |Not havingadequate|Torecruitenough staff|to have additionalstaff|above| |||staffing fevels to cover|—||required|ratio levels.||| |Child/Adult ratio|||To|offer|staff incentives and bonusesto ensure we|retain| |||requirements|of the EYFS|||staff secruited.| |——|__.||Management|will|cover|staff|absences when needed.|__| |[Receiving an inspection|| Employing|Management with previous experienceof| |||resulting in alessthana|||running.a similar setting.| |‘Good’|rating can mean|||Ensuririg staff|altend|reguiar|training and have a full and| |immediate withdrawal of|—|rélevent|Early Years qualifications.|Management will| |||two-year-old funding|||moniter|staffs|practice and procedures to ensure that||| |||high|quality care and|education is provided|to all|children| |A|drop|in|additional|| Ensuringa sustainability fund/reserve|is|[kept.][ |]| ||income|form|creche/|drop|| Holiday club will be offered to children up to age 7yrs| |To ensure creche|is|fully|advertised.| |Fundraising throughout the year.| |increase|—in|utility||fo ensure we are following|our|Eco|policy of switch,|off,||| |{|bills/rent/rates|tum|down|reuse.|I| |To change|alll taps to concussive taps|in|all areas to|L| |reducewater waste.|L| |||Censored lighting|installed throughout nursery to reduce||| |electric usage.| |__.|| Reduced rent,|Reduced|rates.||.|a| |Unit|35,|The Mall|LU1|2TW.|Telephone|01582 458545| |Registered|Charity Number|1031348|

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The Mail Nursery and Creche

By ensuring the above methods are implemented this will minimise these risks.

Organisational Structure

Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348

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The Mall Nursery and Creche

Our Mission and Alm at the Mall Nursery and Créche

Our setting alms to:

Provide high quality care and education for children below statutory school age.
Work in partnership with parents to help children to learn and develop.
Add to the life and well-being of the local community.
Improve outcomes for young children and their families.
Offer children and their parents a service that promotes equality and values

diversity.

Our mission is to:

To have high expectation of every child and strive to help them succeed.
To create an environment that will encourage parents to work in partnership
with us.
To create flexible childcare to suit parents/ carers needs at the most
reasonable cost achievable.
Tocreate a learning environment where students can thrive.

In addition, through our services we will support and inform parents also providing access to additional services via our partners to becomea ‘one stop shop’ for parents and families.

Our responsibilities and work

Public Benefit

e Inall aspects of running our organisation the management committee keep in mind and have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission. Guidance on public benefit issued by the Charity Commission is to: be included. in management committee inductions to ensure all trustees. are aware of and apply it when working with managers to decide upon future activities, policies and procedures.

Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348

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The Mall Nursery and Creche

The focus of our work continues to be split into 2 areas: -

e Child care and education provided through our day care nursery which is open 8.00am - 5.30pm Monday — Friday.

Staffed by qualified early years practitioners we work closely with parents and are open to children from the ages of 2yrs — Syrs.

Free nursery education is provided for ages 3+ and qualifying 2-year-olds via the government's schemes. Additional care is available at low cost and is . payable by the hour (Currently £5.50ph). Payment in advance and deposits are NOT required making childcare both flexible and affordable to meet the needs ofparents/carers in our coramunity. Our services are accessed by many oné patent families, families with no-or little income, families new to the UK whose first language is not English, parents who were deprived as children themselves, under achievers, teenage parents, parents, and children with disabilities. By enabling even, the most disadvantaged children to achieve as much as they are able before they leave us for statutory education, we aim to reduce the effects of poverty and deprivation and improve outcomes for all children and the wider community in which we all live.

_ 6 is provided to children from age Zyrs up to 7yrs 11 months. We continue to offer a shoppers creche for families that require care while they are doing their shopping in the centre. Qur holiday club takes place
out of term time and offers care to families that require care during the school holidays. Through our work with these families, we advance the education of their children through play and the Early Years Foundation stage. Our work with parents achieves outcomes for the parents allow them to continue work and improving lifé.chances for the whole family.

Our Community

» As.acharity, we welcome the financial support we receive from our community: - rent-free accommodation for Unit 35 from The Mall and other organisational support from The Mall Shopping Centre; - the local authority providing support and government funding; - fundraising and donations; We acknowledge our duty to spend these funds wisely for the benefit of all our users.
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e We welcome all families of young children regardless of personal background, faith, gender or personal circumstances. We have staff who speak the languages of our community which is very diverse. We believe this philosophy of openness to all enriches everyone through the sharing of skills, aptitudes and life experiences.

Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348 Page 9

The Mall Nursery and Creche

Activities, Achievements and Performances.

Achievement against targets for the year 2022/2023 was good and we received a large amount of grant funding money which was used to make improvements both internally and externally, increase the size of the floor space in nursery. We were also able fo redecorate the nursery and make some much-needed improvements. We were able to create a more relaxed neutral learning environment by redecorating the nursery playrooms. Some additions were made to the outside environment to allow us to continue with our ongoing Eco targets with the children now growing a variety of fruits and vegetables but on a much larger scale.

Our oore services, the day care nursery, educational sessions, shoppers’ créche were operated successfully throughout the year. Levels of intake have been extremely high with demand, particularly for 2-yeat-old places, exceeding availability and we once again have a waiting list.

Our morning and afternoon education sessions provided places for 120+ 3-4-yearolds and we were able to increase spaces for funded 2-year-olds to meet local demands.

During the year we have also provided places for children whose parents are, undertaking training via Job-Centre Plus, or students who qualify for childcare grants or funding. Some children have been placed with us via referrals from social care and health and our expertise in supporting these families is widely recognised. Our ability — to react quickly, be flexible and provide care by. the half hour has enabled us to provide emergency and short-term care including looking after children whose parents may be attending court or during periods of crisis.

The past year has been extremely busy and exciting for the nursery.

Our nursery trip to Gulliver's Land was successful and both staff and children thoroughly enjoyed the day, and both had lots of fun. Ail funded children 2-, 3- and 4- year-olds and extended day care children were invitedto attend with their parents and nursery subsidising the cost-of the trip. We will continue to offer.a free end of year trip and consider offering more free outings throughout the year in relation to the subject topics being covered in the. children’s learning. This has a positive impact en our culture capital ensuring even those from the most. deprived backgrounds can attend trips and outings that they may not normally be able to aceess due to their farnily’s financial circumstances.

Our planning and curriculum have continued to be a great success and the EYFS guidelines are now embedded through the nursery. All Key persons are continuing to focus on the children’s interest and Individual needs which has led to lots of new and exciting activities in the room. These interests were also used to extend the role play area which regularly changes its purpose. In the last year we have had a launderette, vets, the beach, hairdressers. beauty salon and several others. This has proved very popular with staff and children alike.

Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348 Page 10

% The Mall Nursery and Creche

This year following the learning journey of some of our regular children has shown that they have developed more social skills and communication in English to get along with their friends and continue to learn through play. Due fo our town centre location and non-connection with any specific school, families come fo us from across Luton and a few from beyond Luton’s borders.

See chart below for breakdown.

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The Manager, deputy and supervisors have been monitoring closely each child’s progress with a cohort system which enables the Key person to monitor areas for each individual key child. This monitoring has helped staff recognise areas in which children need extra support, ifthey are at risk of delay and this is planned for using the child's interests. This has been made even easy and more productive with the purchase of the Famly software meaning the computer can easily produce reports and assist in calculating results.

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Unit 35, The Mali LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348

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The Mall Nursery and Creche

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||||||||| |---|---|---|---|---|---|---|---| |Review of Targets|for2022-2023|ee| |To|continue toencourage|parents and|Parents|continue to|be|[encouraged]|[to]| |careers|to play a more active|role inthe|—|join our parent forum and participate|in| |nursery.|||having a role| |proved|[challenging]|on the committee. This dueto parents|has|—| |||having other commitments andfindit|=|| |difficult|tojoin meetings atthe planned||| |||dates|and|times.|/| |We continue|to|offer more opportunities||| |for|parents to get involved|in their| |||children’s|learning|by affering stay and|=|| |||playmusri’e/ sessionsdad's day and thiseventsgivessuchparentsas|the| |“opportunityto|come|info the|setting and||| |[To secure the suggested additional|peihiind|igen|ed challenges|with|=||| |||space for expansion|||<amany|oustagies. dditionalto|overcome.epace. TheWith| |previoustenantsdid|not|vacate|the| |.| || premisses|when|they|were required to| || which| |put|@|delay on|us|[obtaining][ that]| |||| additional| |||space.|We|continued| |digoussionswith|Mall|[Managementto]|=|| |erisurewe|were|still|able toSeoure that| |spateshold| |endfinaligedof|2023.|Onesbe|thisavailablehas beento us by the|:| |||building|work willbe-ebleto| |||take place.tomake|the required| |adaptationsto|ensute|it|is fully compliant||:| |||eceupanicy,|we advertised and fecruited|—| |||two|eatly years practitioners,one| |‘unguatiied room support and fwo|:| |apparuntiesWe|will|continue whento|postionsoffer|jo|become| |||available and with the aim of creatinga|=|| |||biggér space more positions will become||| |availableto ensure adult/child|ratios|are| |—_-|__|maintained.|arti| |Promote continued|Personal,|—|We were|able teencourage|our staff|with| |Professional Development.|level 2 qualifications to access further|=|| |studies| |the|nexttolevel. increaseNursery theircontributed qualificationto to this| |||training to ensure|staff were able|to| |access this|training|at no cost to them|

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Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348

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	The Mall Nurseryand Creche	The Mall Nurseryand Creche
= 4		~~”	All staffarerequired to attend allcore	trainingsuch asSafeguarding and First aid. Itissignificantforstaffto undertake	appropriatetrainingtoenhancepractice andprofessionaldevelopment. Training ‘needsofstaffareclosélymonitoredby	Nursery Management andthe required training isbookedforthe nextavailable
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				accesssimilarexperiencestothose morepriviléged.Wehaveartanged trips atlittleorocosttoparentsandhave	had in settingentertainmentsuch as,the	paritomnime, bouncycastle,facepainting
		ete.
Targets for2023-2024 Toencourage more parents tojoinour	parentscommittee		nsnesntii	Parentswillbeinformedduring their child’sinductiondayofourmanagement committeeandtheir rolewhen taking an
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Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348 Page 13

The Mall Nursery and Creche

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|||||||||| |---|---|---|---|---|---|---|---|---| |Tee|eT|provide|hot|lunches|to|all children|not| |just those|identified|as|vulnerable.||| |We|will aim|to|achieve|providing|all||| |“Continue with our Eco work and|reducing|| We aim to achieve the Green Flag| |our carbon|footprint|Eco award again this year by| |continuing|our work with|the|children| |||on|Biodiversity|and healthy|lifestyles.| |We|will|continue|to grow|our own|.| |||fruitsarea,|andWe|willvegetables teach|thein|childrenour outside|{| |about|lifecycles|of butterflies and|iW| |purchase the|resources|needed|to|=|| |alow|the children|to actively watch||| |each|siep.and the changes|that|I| |||happen. We will also plant more| |||flowers which attachedthe bees and| ||||butterfliesand|continue to ourto work rooftop on outdoor our Eco area:| |||code of ‘switch|off|‘tum down’|reuse’.||| |We will|offer|clothes swap sessions| |||for our parents.and ask for donations| |||of 30|plastic|bottles for a|free creche||| |space voucher. To access additional| |:|||funding from outside agencies to| |||support further developments and| |ce|CCS relatos|to|ur Eco aims.|___| |[To|identify an appropriate area|to havea|||By|creating|asensory area|within the||| |sensory|room.|nursery, we will be able to-offer our| |||children|identified with|Special| |educational needs a more engaging| |' space.andto alien|with our mission| |of ensuring every|child that aflends| |our|setting|is|provided with the same||| |leaning|opportunities|regardiess|of| |‘their background,|age,|and stage of||| |abilities.|This will|create|better||| |leaming outcomes for all|children|in|a||| |||eee|——|| more|relaxed|engaging|environment.| |||Staff to access training|In|relation|to the|Management to access training on.| |EYFS|updates|||the new EYFS requirements thatare||| |||due|to come|into|effect|in|January|

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The financial aspect of these targets has been taken into consideration, the expense for the overall cost of building work, installing a fully working kitchen and the cost of equipment for the sensory room will be quite significant. Based on this, additional funding will be sought where needed for smaller projects like our Eco work. To ensure that the nursery remains sustainable we will work towards the targets highlighted

Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348

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The Mall Nursery and Creche

above, these will be costly and there is a budget to adhere to. Further developments for the nursery will be detailed during the next financial year.

Financial Review

Income for the centre during the financial year 2022/23 came from the funding of nursery education placés and parent fees.

Fees and grant income are supplemented by support from The Mall with their continuing donation of unit 35 rent free and other initiatives or gifts in kind including many items sourced from In Kind Direct. The addéd value of donations, gifts in kind, free or reduced cost support and goodwill from employees at The Mail and others in ourcommunity enable us to provide our users with quality services at value for money cost. Our thanks go to all concerned and we could not opérate at the same level without your ongoing support.

The results for the year ended 31 March 2023 are set out in the statement of financial activities on page 19. The position at the end of the period is shown in the balance sheet on page 20.

The charity has one major source of income: Government Nursery Grants and one major expense: Staff wages. Grant income is dependent upon child registrations and this cannot be determined until the start of each term. However, there is comfort in knowing that there is good demand for places, and the setting currently has lengthy waiting lists for 2- and 3-year-old children.

With plans to expand the nursery there are numerous factors that could potentially affect the future financial performance of the setting. This includes building work that will need to be carried out to ensure the premises is secure and safe for children, staff, and parents to access. Furthermore, once we have consent to trade from this space, we will incur several charges such as: rent, service charge, increased rates, and any further maintenance cost. Expanding the setting will also require the hiring of additional staff to maintain ratios for the increase in children that can be enrolled onio our registers.

Moreover, the setting also provides free hot lunches to vulnerable children who have been identified with child protection or a childin need concems. To ensure that every child is provided with the same opportunities the nursery also made the decision to cover a large percentage of the cost of the trip, asking parents to contribute £20. This granted 2 seats tickets on the coach as well as access to Gulliver's Land. However, on future trips the nursery will substitute the entire cost, this will ensure that even our lowest income families:are still able to attend should they wish to do so. if every child on our register decided to attend the end of year trip with their parent this would increase the cost significantly (once nursery begins covering the full bill).

Investment policy

The Charity holds cash on deposit with Santander. This cash has a maturity date of less than one year. The Charity holds this money for investment purposes rather than to meet short term cash commitments as they fall due.

Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1037348

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The Mall Nursery and Creche

Reserves

The trustees aim to maintain free reserves in unrestricted funds at a level which equates to eight months of total projected charitable expenditure. At 31st March 2023, this was £294,000. The trustees agree that this amount would reflect sufficient time to seek alternative funding should existing funding sources cease, as well as taking: account of the increased future lease and other costs resultant from expanding into an adjacent unit. The total held as unrestricted funds at 81 March 2023 was £452,459 (2022: £368,265). Within these unrestricted funds there was £4,197 (2022: £10,658) related to fixed assets and £10,400 designated funds relating fo the future depreciation on the building improvements to the new unit 19 expansion to be written off over the 5 yearterm of the lease. Therewere also restricted funds of £604 (2022: £1,317). This results in £437,862 (2022: £357,607) of free reserves. This is £143,862 mare than the reserves poliey however there are anticipated costs of circa £100,000 to be incurred in the next accounting period relating to the new unit and additional annual costs of approximately a further £30,000 which will need to be covered by these reserves.

Approved by the trustees on 30 January 2024 and signed on their behalf by:

Yvette Watson Chairperson

30 January 2024

Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348 Page 16

JHE MALL NURSERY AND CRECHE

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE MALL NURSERY AND CRECHE

J report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2023 which are set out on pages 19 to 30,

Responsibilities aad 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 2017 (‘the Act’). [report in reapect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination Thave followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act

Independent examiner's statensent Since the charity's goss income exceeded £250,000 your éxaminer must be & member of « body listed in.section 145 of the Act. I confirm that lam qualified to undertake the examination because J a member of The Institute of Chertered Accountants in England and Wales, which is one of the listed bodies. Your attention ig to drawn to the fact that the charity has prépared the accounts (financial statements) in accordance with Accounting and Reporting by Charities preparing their accouais imaccordance with the Financial Reporting Standard applicable inthe UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn. We understand that this has been done in order for the accounts to provide a true and fair view in accerdance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or afier | January 2015. }have completed my examination. | 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 nol kept in respect ofthe charity as required by section 130 of the Act; or 2 the sccotmis do not accord with those records; or 3. thé accounts do not comply with the applicable requirements concerning the form arid content efaccounts set out in the Charities (Accounts:and Reports) Regulations 2008. other than any requirementthat the accounts give @ ‘true and fair view’whichis not a matter considered as part of an independent examination.

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THE MALL NURSERY AND: CRECHE

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE MALL NURSERY. AND CRECHE (confined)

Thave 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.

RA Cox FCA Milfer & Co Chartered Accountants 5 Imperial Court Laporte Way, Luton | Bedfordshire LU4 8FE

30 January 2024

Page 18

THE MALL NURSERY AND CRECHE

STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2023

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||||||||| |---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Total| |7|Fonds|Funds|2023|2022| |Notes|£|£|£|£| |Income|from:| |Donations|and|fegucies:| |Donated facilities|3a|38,000|Fa|38,000|38,0)| |Grants|3b|399,937|16,167|416,104|350,109| |Other|wading|activities:| |Fundraising|527|-|527|574| |Investments|4|906|-|906|25| |Charitable|aotivities:| |Fees|- sessions|53,622|-|§3,622|39,033| |Fees|- activities|-|.|-|-| |Other income|5,000|-|5,000|4,000| |Total|497,992|-|16,167|-_|§ t4159|—|431741| |Expenditure|on:| |Charitable|activities:| |Sessions|5|407,700|11,338|419,038|350,049| |Activities|5|3,349|8,291|11,640|9,006| |Total|411,049.|19,629,|430,678|SBS| |Net income / (expetiditure)|86,943|(3,462)|83,481|72,086| |Transfers between|funds|14|&15|(2,749)|2,749|-|-| |Net Movement|in|funds|84,194|(713)|$3,481|72,086| |Reconciliation|of finds:| |‘Tota? fands brought|forward|14 &|15|368,265|1,317|369,582|297,496| |Total funds carried forward|14&|15|452,459.|‘604,|453.063.|369,582|

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The notes fortn part of these financial statements

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THE MALL NURSERY AND CRECHE

Registered Charity Namber 1031348

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;
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|||||||| |---|---|---|---|---|---|---| |BALANCE|SHEET| |as|at|31|March|2023| |2023...|;|;|2022.| |Notes|£|£|£|£| |FIXED|ASSETS:| |Tangible assets|9|14,597|10,638| |CURRENT ASSETS:| |Debtors|3|||1,416|2,563| |Investments|10|52,292|52,204| |Cash at bank and in hand|403,383|326,689| |457,09)|381,456| |CURRENT|LIABILITIES| |CREDITORS:|Amounts falling due|within one year|12|.|ce 8,625).|(22,532)| |NET CURRENT ASSETS|438,466|358,924| |NEY ASSETS|453,063,|369,582| |FUNDS OF THE|CHARITY:| |Unrestricted|funds:| |General|14|452,459|368,265| |Restricled|funds:| |Projects|15|604|1,317| |TOTAL FUNDS|453.063|369,582|.| |Approved by the Trustees and|authorised|for|issue on 30 January 2024 and signed on|their behalf by:| |Chairperson|y|i|saad|:| |30 Janvary 2024| |The notes|form|part of these|fmancial|statements|

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THE MALL NURSERY AND CRECHE

STATEMENT OF CASH FLOWS for the Year Ended 31 March 2023

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Notes
Net cash flew from operating activities 1
Cash flow from Investing activities
Purchase of tangible fixed assets
InterestNet cash flowreceived from investing activities
Tncréase/ (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning ofyear
Cash and cash equivalents al end of year 2
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ence	ence	eens a	eens a
	£		£
—_	87,953		_ 86103
	(42,077)		(4,265)
	906...		ae)
vswatdWAN),		.	(4,240)
	16,782		81,863
	378,893		297,030
	455,675,		378,893

The notes form part of these financial staternents

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THE MALL NURSERY AND CRECHE

NOTES TO THE STATEMENT OF CASH FLOWS

for the Year Ended 31 March 2023

t

RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

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||||||| |---|---|---|---|---|---| |2023|2022| |£|£| |Net income|for|the year|83,481|72,086| |Interest|receivable|(906)|(25)| |Depreciation|of|tangible|fixed assets|8,138|7,936| |(Increase)|/ decrease|in debtors|1147|56| |Increase / (decrease)|in creditors|3,907)|.|6,050|

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CASH AND CASH EQUIVALENTS

The amounts disclosed on the statement of cash flows in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |2023|2022| |£|£| |Cash|at bank and|in hand|403,383|326,689| |Investments|42,292|52,204| |Cash and|cash equivaients:|at ead|of year|.|455|6715.|a|eg|b|823|.|

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ANALYSIS OF CHANGES IN NET FUNDS

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||||||| |---|---|---|---|---|---| |At|1.4.22|Cash|flew|At 313,23| |£|£|£| |Net|eash| |Cash and cash|equivalents|378,893|76,782|-|435,678| |Total|ee|3FS 803|eae!||76,782|«inane“453,675AES|

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The notes form part of these financial statements

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THE MALL NURSERY AND CRECHE

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NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023
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1
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ACCOUNTING POLICIES

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(a) CharityThe Mail NurseryInformation and Creche is a charity registered in England and Wales (No. 4031348). Details of the registered office
ave given or the charity information page of the financial statements. The charity's operations and principal activities
are described in the Trustces' Report.
(b) Basis of Preparation
Gi) These financial statements have been prepared on an accruals basis and include income and expenditure as it is earned
or incurred, rather than as cash is received or paid.
(ii) These. financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing their accounts in accordarice with the Financial Reporting Standard
applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the
United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Aecepted Accounting Practice.
(iii) These financial statements have been prepared:te give a true and fair’ view and have departed from Charities (Accounts
and Reports) Regulations 2008 onty tothe extent required to provide a ‘true and fair’ view. This departure has involved
following the Accounting and Reporting by Charities: Statement ofRecommended Practice applicable to charities preparing
their accounts in accordance with the Financial Reporting Standard appticable in tht UK and Republic of Ireland issued 16
Qctober 2019 rather than the Accountingand Reporting by Charities; Statement of Recotnmended Practice effective from
| April 2005 which has since been withdrawn.
(iv) The Charity constitutes # public benefit entity as defined by FRS 102.
(v) These financial statements are prepared'on a going concen basis under the historical cost convention. The presentation
currency is the Pound Sterling rounded to the nearest £1.
ic) Gotag Concern
The Trustees:are net aware of any mmterial uncertainties related to events or conditions thal may cast significantdoubt
about the ability of ihe charity to’continue as a going concém and have @reasonuble-expectation that the charity has
ailequate resources to contifut in operational existence for the foreseeable future. Thus they continue to adopt the going
coricenr basis of accounting, in preparing the annuat financial statements. :
(d) Fond Accounting
(i) The genera} fund consists of funds which the charity may use for its purposes at its discretion.
(ii) The designated funds comprise unrestricted funds that have been set aside by the trustees foy particular purposes.
(ii) The restricted funds are those where the donor has invposed specific restrictions on the use of funds which are legally binding.
(e} Income
All income is ingluded in the Statement of Financial Activities when the charity is entitled to the income and the amount
can be reasanably quantified.
The following specific poticies are applied to particular categories of ineome:
- fncome from. donations and legacies is received by way of grants, donations and gifts and is ‘ineladed in fh in the
Statement of Financial Activities when receivable. Grants, where entitlement is mot conditional on the delivery ofa
spécific performance by the charity, aré recognised when the charity becomes uncoriditionally entitled to the grant.
Inéoine from grants, where related to performance and specific deliveribles, is accounted for as the charity eams the right
to consideration By its performance. Government grants are recognised using the performance model and are
recognised in income when the proceeds are received or receivable,
- Donated services and facilities are included at the value'to the charity. when the benefit to the charity is reasonably
quantifiable and material. The value of services provided by volunteers has not been included in the financial statements.
- Tavestmentt income is included when receivable.
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THE MALL NURSERY AND CRECHE
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NOTES TO THE FINANCIAL STATEMENTS

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for the Year Ended 31 March 2023
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1
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ACCOUNTING POLICIES (continued)
(f) Expenditure
Expenditure is allocated to the particular activity where the cost relates directly to that activity. Expenditure is recognised
when # Hability is incurred.
Charitable Activities include expenditure associated with direct services and membership support.
(g) Support Costs
Support costs are those functions that assist the. work of the charity but do noi directly undertake charitable activities.
Support costs are outlined a note 5. Support costs are allocated to cBaritable activities on a Feasonable and consistent
basis, based on time and resource spent on each area,
Goverance costs include expenditure incurred in the governance of the charity anid its assets and are primarily associated
with constitutional and statutory requirements.
(h) Fixed Assets
(i) These are capitalised if they oan be used for more than | year and cost at least £500, They are valued at cost.
(ii) Depreciation is applied at the folowing annual rates in order to write off assets over their estimated lives:
Equipment 3-4 years straight fine basis
Building Improvements life of lease straight line basis
(i) Investments
Current asset investments are valued at cost as the investment is cash-held on fixed term deposit on which there is no
capital growth or less. Interest receivable on these deposits is recognised in the period to which it relates.
() Pensions
Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity contribution
is restricted to the contributions disclosed imnote 6, There were no outstanding contributions at the year end.
(k) Operating Leases
Rentals applicable to operating leases, where substantially all of the benefits attd risks of ownership remain with the
lessor, are charged in the Statement of Financial Activities on a straight line basis over the period of the lease.
(PD Financial Instraments
The charity hes elected to apply the provisions of Section It "Basic Financial Instruments” atid Section 12 “Other
Financial lngtruments Issues" of FRS 102, in full, to all of its financial instruments.
Financial instruments are classified and accourited for according to the substance of the contractual arrangement as
finacial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual
interest in the assets of the entity after deducting all of its liabilities.
Financial assets
Basic financial assets, which include trade debtors and staff loans are initially measured at transaction price including
transaction costs and are subsequently carried at amortised cost.
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THE MALL NURSERY AND CRECHE

NOTES FO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2023

ACCOUNTING POLICIES (continued)

() Financial Instrenrents (continued)

FinancialBasic financialliabilitiesliabilities, which include trade creditors, other creditors and accruals, are initially measured attransaction price and subsequently measured at amortised cost.

Critical Accowating Estimates and Areas of Judgement 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 arid liabilities that are Hot readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant.

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.

The Trustees do not consider that there are any critical estimates or aréas ofjudgement that need to be brought to the attention of the readers of the financial statements.

Income

{a} Donated Facilith’s Use of the:nursery/creche area at The Mall Luton is provided free of charge by The Mall. The equivalent commercial cost is quoted in both income and expenditure.

(b)	Grants	Unrestricted Funds £	Restricted Fauds z	Total 2023 £	Total 2022 £
	LutonBoroughCouncil(LBC) LBC:SpecialEducations!NeedsGrant(SEN) LBC:BarlyYearsPupilPremiumGrant(EYPP) Other	396,937 - . 3,000	- 6,150 10,017 -	396,937 6,150 16,017 3,000	332,439 4,615 9,055 4,000

In the prior year income fron grasts was £350,109 of which £13,670 was attributable to restricted funds and £336,439 was attributable to unrestricted funds.

Jecome from Investments

Bank interest

		2023	1022
		£	£
oe	rags	906,	25

In the current and prior year all income received was attributable to unrestricted funds.

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THE MALL NURSERY AND CRECHE

NOTES TO THE FENANCIAL STATEMENTS

for the Year Ended 31 March 2023

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||||||||| |---|---|---|---|---|---|---|---| |Charitable Expenditure Including Sapport Costs|Direct|Support|Total|Total| |Casts|Costs|2023|2022| |£|£|£|&| |Sessions|275,78)|143,257|449,038|350,049| |Activities|11,640|-|11,640|9,606| |RE|neEs| |Support Cost Analysis|2023|2022| |£|£| |Staff Costs|- wages and salaries|$6,353|72,838| |Depreciation|8,138|7,936| |Rates|3,747|894| |Rent|38,0008|38,000| |Training and Development|3,149|1,999| |Govemance Costs|- accountancy|fees|3,870|3,370| |——|43257|:|123,237| |£19,629 (2022:|£12,746)|of|the total|expenditure on charitable activities was|attributable to|restricted|funds and| |£411,049 (2022:|£346,909)|was|attributable-to|urresiricted|funds.| |Employees|2023|2022| |£|£| |Wages and salaries|301,188|243,074| |Social|security casts|4,894|12,210| |Other pension costs|4,535|3,052| |9S|2|scncanmaisbocas| |The average number of persons employed|by|the|charity|daring the year|was:| |2023|2022| |No.|Na.| |Management and|administration|3|3| |Charitable activities|18|17| |peernnnenn|omeirieiie|iceconteelanenememmanuadiil| |2b|20| |No employee|received|remuneration|in excess of £60,000|(2022:|none}|

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THE MALL NURSERY AND CRECHE

NOYES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 March 2023

Employees (Continued)

‘The key management personnel of the charity comprise the Trustees, the Nursery Manager andthe Deputy Manager. The total employee benefits of the key management personnel during the year were £67,274 (2022: £58,351).

Net Expenditere for the Year

Netexpenditure is stuted after charging/(crediting):
			2023	2022
			£	£
Independent Examiner'sFee Independentexamination Accountancy Depreciation			1,500 2,370 8,138	1,428 2,142 7,936
‘Trustees’ Remuneration and Expenses
Notrusteereceivedremuneration orwasreimbursed expenses intheyearunderreview.(2022: £nil).
TangibleFixed Assets	improvements £		Equipment £	Total £
Cost At 1] April2022 Additions		92,040 10,400 -	38,953 1,677 -	130,993 12,077 -
Disposals
At 31March2023	_	102,440	_ 45,530	143,070
Accumulated depreciarion At 1 Apri}2022 Chargeforperiod		87,104 3,291 ~	33,231 4,847 -	120,335 8,138 -
Eliminatedon disposals
At31March2023	,	90395... 38,078		i23473
Net Book Value At34March2023	guages	12,045	— 2332.	14597
At31March2022		4.236	5,722	10.658

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THE MALL NURSERY AND CRECHE

NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2023

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||||| |---|---|---|---| |10|havestinents| |,|2023|2022| |£|£| |Cash on deposit|$2,292|52,204| |m3]|Debtors|2023|2022| |£|£| |Other debtors|1,215|2,563| |Prepayments and accrued income|°|201|-| |:|itis|2 p53| |2|Creditors: Amounts Falling Due Within One Year|2023|2022| |£|£| |Trade|creditors|156|1| |Other creditors|44,319|14,987| |Accruals|3,750|7,084| |‘aaamnleniaaign i:ieremmeitiin:|—_-pailatptaiareCemeTmmmemenentta|

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THE MALL NURSERY AND CRECHE

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 March 2123

AnalysisofNetAssetsBetweenFunds					Unrestricted Fonds i	Restricted Funds z		Total 2023 £
Fixedassets					14,597 456,487	- 604		14,597 457,091
Current assets Currentliabilities					(38,625)	-		(18,625)
AnalysisofNetAssetsBetweenFunds-PriorYear					Unrestricted Faas £	Restricted Funds £		Total 2022 £
Fixed. assets Currentassets Currentliabilities					10,658 380,139 (22,532)	“ 1,317 -		J0,658 381,456 (22,532)
					368265	. 13Ne		369582
UnrestrictedFunds	Balance 01-Apr-22 £			Income £	Expenditure £	Gains,losses & transfers £		Balance 31-Mar-23 £
Generalfunds Designated funds	sean	368,265 - ee 368,265	;	497,992 . seve RSNA 497,992	(411,049) - wisi we {31i042) .	(13,1495 10,400 Anata a . (2,749).	-	442,059 10,400 . 452.459.	.
UnrestrictedFunds-PriorYear		Balance 01-Apr-21 £		Tneome £	Expenditdre £	Gains,losses &transfers £		Balance 31-Mar-22 £
General funds		297,103		418,071	(346,909)	-		368,265
		231,103		-418.071	a(346,902)	-		368265

General funds are unrestricted funds that the Trustees are free to use in accordance with the charitable objects.

DesignatedThe designatedfunds fund represents the future depreciation attributable to the leasehold improvements to Unit 19 to be written off over the 5 year term of the lease. Depreciation will commence in the next fineficial year upon the opening of the new facility.

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THE MALL NURSERY AND CRECHE

NOTES TO FHE FINANCIAL STATEMENTS

for the Year Ended 31 March 2023

Restricted Funds

Restricted Funds
		Balance	Income:		Expenditi re	Gains, losses	Balance
		01-Apr-22				& transfers	31-Mar-23
		£	£		£	£	£
SEN Grant fund EYPPGrantFund		236 1,081	6,150 10,017		(9,135) (16,494)	2,749 .	- 604
		1337.	.	16,167		— (£5,629)	2.749
Restricted Funds - PriorYear
		Balance	Income		Expenditure	Gains, losses	Balance
		01-Apr-21				& transfers	31-Mar-22
		£	i		£	£	£
SENGrant fund		-	4,618		(4,379)	-	236
EYPP Grant Fund		393	9,055		(8,367)	-	1,081
	muy	=,393...	13.670.	-	(42746	-	inciee

SEN Grant Fund - Special Educational Needs funding is spesifically granted to provide 1 on 1 support for children with additional needs,

EYPP Grant Fund - Early Yéars Pupil Premium funding was received to help support children.who meet the pupil preminih criteria.

16 Related Party Transactions

There have been no related party transactions in the reporting period that require disclosure (2022: none).

Financial instruments

The income attributable to the charity’s financial assets monsured at amortised coat and the total interest income for financial agsets that are not measured at fair value was £906 (2022: £25).

Page 30

The Mall Nursery and Creche Registered Charity Number 1031348

TRUSTEES' ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Miller & Co Chartered Accountants Statutory Auditors 5 Imperial Court Laporte Way Luton, Bedfordshire LU4 8FE

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The Mall Nursery and Creche
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CONTENTS
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i The Mall Nursery and Creche CHAIRPERSON’S REPORT 2022/2023

What follows is a summary. of what has been happening at the nursery over the last year. For further details for each section please refer to the Trustee's report and the Treasurer's report.

There have been several Stay and Play Sessions to support the parents in play and interaction with their children and at the same time see how the nursery operates during a session.

Recruitment has gone well this year where necessary and training and development of the staff continue to be well managed.

The nursery has been able to secure funding to expand the space that is used for the children. This is ongoing.

The nursery continues to support families that are in particular need, in various ways.

Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348 Page 4

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a . 7 The Mall Nursery and Creche
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The targets that were set last year have mostly been achieved. There are two areas that we should be able to achieve by next year.

We would have liked to have taken on the additional unit, however as stated previously there were some difficulties achieving this, for further information, please see the trustee's report.

We continue to encourage more parents/carers to become members of the committee, this is an ongoing area of development. There are various planned strategies to help with this.

Finances are very good at present please see the treasurers report for further information.

YvetteWatson Chairperson

30 January 2024

Unit 35, The Mall LU1 2TW., Telephone 01582 458545 Registered Charity Number 1031348

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The Mall Nursery and Creche

TREASURER'S REPORT 2022/2023

The financial year for The Mall Nursery & Creche runs from April 18 to March 31%

Brian McFarland Honorary Treasurer 30 January 2024

Unit 35, The Mall LUt 2TW. Telephone 01582 458545 Registered Charity Number 1031348

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The Mall Nursery and Creche

CHARITY TRUSTEES & ADMINISTRATIVE INFORMATION

Management Committee Officers

e Chair — Yvette Watson (Appointed Chair January 2019) e Treasurer — Brian McFarland (Appointed Treasurer September 2007) e Secretary — Jennifer Drummond (Appointed December 2021)
e Tracey Bateman Appointed March 16 * Roy Andrew Greening Appointed June 16
¢ Nursery Manager — Tammy Treagus — BA Hons Child and Adolescents Level 6 (Appointed July 2018)
« Nursery Deputy Manager — Michele Baulcombe (Appointed March 2019) * Room Leader= Shanel Walker (Appointed March 2021, previously Early Years Practitioner appointed March 2019)
- Room Leader — Michelle Gibson (Appointed September 2022) ¢ Business and Finance Assistant -— Jennifer Drummond. (Appointed November 2015)
- 17 Early Years Practitioners * 2 arly Years Appentices

e HSBC,-63 George Street, Luton LU1 2AP

Independent Examiner

e Roger Cox — Miller & Co Chartered Accountants, 5 Imperial Court, Laporte Way, Luton, Beds LU4 8FE

Unit 35, The Mail LU1 2TW. Telephone 01582 458545 Ragistered Charity Number 1031348

Page 4

The Mall Nursery and Creche

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023

Structure, Governance and Management

The Mali Nursery and Créche is an unincorporated charity registered in England and Wales, constituted under the Early Years Alliance Model Pre-school Constitution 2011 dated September 2012.

Trustees’ Induction and Training

Page 5

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The Mall Nursery and Creche

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The Mail Nursery and Creche

By ensuring the above methods are implemented this will minimise these risks.

Organisational Structure

Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348

Page 7

| |

The Mall Nursery and Creche

Our Mission and Alm at the Mall Nursery and Créche

Our setting alms to:

Provide high quality care and education for children below statutory school age.
Work in partnership with parents to help children to learn and develop.
Add to the life and well-being of the local community.
Improve outcomes for young children and their families.
Offer children and their parents a service that promotes equality and values

diversity.

Our mission is to:

To have high expectation of every child and strive to help them succeed.
To create an environment that will encourage parents to work in partnership
with us.
To create flexible childcare to suit parents/ carers needs at the most
reasonable cost achievable.
Tocreate a learning environment where students can thrive.

In addition, through our services we will support and inform parents also providing access to additional services via our partners to becomea ‘one stop shop’ for parents and families.

Our responsibilities and work

Public Benefit

e Inall aspects of running our organisation the management committee keep in mind and have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission. Guidance on public benefit issued by the Charity Commission is to: be included. in management committee inductions to ensure all trustees. are aware of and apply it when working with managers to decide upon future activities, policies and procedures.

Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348

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. .

The Mall Nursery and Creche

The focus of our work continues to be split into 2 areas: -

e Child care and education provided through our day care nursery which is open 8.00am - 5.30pm Monday — Friday.

Staffed by qualified early years practitioners we work closely with parents and are open to children from the ages of 2yrs — Syrs.

_ 6 is provided to children from age Zyrs up to 7yrs 11 months. We continue to offer a shoppers creche for families that require care while they are doing their shopping in the centre. Qur holiday club takes place
out of term time and offers care to families that require care during the school holidays. Through our work with these families, we advance the education of their children through play and the Early Years Foundation stage. Our work with parents achieves outcomes for the parents allow them to continue work and improving lifé.chances for the whole family.

Our Community

» As.acharity, we welcome the financial support we receive from our community: - rent-free accommodation for Unit 35 from The Mall and other organisational support from The Mall Shopping Centre; - the local authority providing support and government funding; - fundraising and donations; We acknowledge our duty to spend these funds wisely for the benefit of all our users.
:
e We welcome all families of young children regardless of personal background, faith, gender or personal circumstances. We have staff who speak the languages of our community which is very diverse. We believe this philosophy of openness to all enriches everyone through the sharing of skills, aptitudes and life experiences.

Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348 Page 9

The Mall Nursery and Creche

Activities, Achievements and Performances.

Our morning and afternoon education sessions provided places for 120+ 3-4-yearolds and we were able to increase spaces for funded 2-year-olds to meet local demands.

The past year has been extremely busy and exciting for the nursery.

Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348 Page 10

% The Mall Nursery and Creche

See chart below for breakdown.

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Unit 35, The Mali LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348

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The Mall Nursery and Creche

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Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348

Page 12

	The Mall Nurseryand Creche	The Mall Nurseryand Creche
= 4		~~”	All staffarerequired to attend allcore	trainingsuch asSafeguarding and First aid. Itissignificantforstaffto undertake	appropriatetrainingtoenhancepractice andprofessionaldevelopment. Training ‘needsofstaffareclosélymonitoredby	Nursery Management andthe required training isbookedforthe nextavailable
{Appointastudentrep 4	:		’Wenowhaveadesignated staffmember toact as our studentrep. This allows anyonecompletingtheirstudieswithus tohavea keymemberofstaffthatthey	are able to talk to Gbout anycourse
“Topromoting culture capital :		Wecontinue toensure ailchildrenare givenacessto the saiie opportunities ensuringéven our moredeprived
				accesssimilarexperiencestothose morepriviléged.Wehaveartanged trips atlittleorocosttoparentsandhave	had in settingentertainmentsuch as,the	paritomnime, bouncycastle,facepainting
		ete.
Targets for2023-2024 Toencourage more parents tojoinour	parentscommittee		nsnesntii	Parentswillbeinformedduring their child’sinductiondayofourmanagement committeeandtheir rolewhen taking an
a 1 :		activepartin nursery life. Awelcome gift intheformof ahamper	willbegiven tothosewho arewillingto joinandan incentivesmallvoucherfor	everymeetingattended. Which willalsocontinue tosupport small
"Tofinalisetheprocessforconsentto tradeforthe additionalspaceforthe expansion ei nn neon Rare inn ene			Duetothecontinuing high demand from the localcommunitytoaccessour	provision,wewillcontinuediscussions	with Mall Managementto.ensurewe ‘secure the space (unit 19) toexpand our npPROVISION. i ipasnaiieeennnannd anes HISwillenableus fo beable to

Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348 Page 13

The Mall Nursery and Creche

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Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348

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The Mall Nursery and Creche

above, these will be costly and there is a budget to adhere to. Further developments for the nursery will be detailed during the next financial year.

Financial Review

Income for the centre during the financial year 2022/23 came from the funding of nursery education placés and parent fees.

The results for the year ended 31 March 2023 are set out in the statement of financial activities on page 19. The position at the end of the period is shown in the balance sheet on page 20.

Investment policy

Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1037348

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The Mall Nursery and Creche

Reserves

Approved by the trustees on 30 January 2024 and signed on their behalf by:

Yvette Watson Chairperson

30 January 2024

Unit 35, The Mall LU1 2TW. Telephone 01582 458545 Registered Charity Number 1031348 Page 16

JHE MALL NURSERY AND CRECHE

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE MALL NURSERY AND CRECHE

J report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2023 which are set out on pages 19 to 30,

accounting records were nol kept in respect ofthe charity as required by section 130 of the Act; or 2 the sccotmis do not accord with those records; or 3. thé accounts do not comply with the applicable requirements concerning the form arid content efaccounts set out in the Charities (Accounts:and Reports) Regulations 2008. other than any requirementthat the accounts give @ ‘true and fair view’whichis not a matter considered as part of an independent examination.

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THE MALL NURSERY AND: CRECHE

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE MALL NURSERY. AND CRECHE (confined)

RA Cox FCA Milfer & Co Chartered Accountants 5 Imperial Court Laporte Way, Luton | Bedfordshire LU4 8FE

30 January 2024

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THE MALL NURSERY AND CRECHE

STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2023

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The notes fortn part of these financial statements

Page 19

THE MALL NURSERY AND CRECHE

Registered Charity Namber 1031348

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THE MALL NURSERY AND CRECHE

STATEMENT OF CASH FLOWS for the Year Ended 31 March 2023

ence	ence	eens a	eens a
	£		£
—_	87,953		_ 86103
	(42,077)		(4,265)
	906...		ae)
vswatdWAN),		.	(4,240)
	16,782		81,863
	378,893		297,030
	455,675,		378,893

The notes form part of these financial staternents

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THE MALL NURSERY AND CRECHE

NOTES TO THE STATEMENT OF CASH FLOWS

for the Year Ended 31 March 2023

t

RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

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CASH AND CASH EQUIVALENTS

The amounts disclosed on the statement of cash flows in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

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ANALYSIS OF CHANGES IN NET FUNDS

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The notes form part of these financial statements

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THE MALL NURSERY AND CRECHE

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NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023
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1
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ACCOUNTING POLICIES

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‘ .

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THE MALL NURSERY AND CRECHE
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NOTES TO THE FINANCIAL STATEMENTS

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for the Year Ended 31 March 2023
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THE MALL NURSERY AND CRECHE

NOTES FO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2023

ACCOUNTING POLICIES (continued)

() Financial Instrenrents (continued)

FinancialBasic financialliabilitiesliabilities, which include trade creditors, other creditors and accruals, are initially measured attransaction price and subsequently measured at amortised cost.

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.

The Trustees do not consider that there are any critical estimates or aréas ofjudgement that need to be brought to the attention of the readers of the financial statements.

Income

{a} Donated Facilith’s Use of the:nursery/creche area at The Mall Luton is provided free of charge by The Mall. The equivalent commercial cost is quoted in both income and expenditure.

(b)	Grants	Unrestricted Funds £	Restricted Fauds z	Total 2023 £	Total 2022 £
	LutonBoroughCouncil(LBC) LBC:SpecialEducations!NeedsGrant(SEN) LBC:BarlyYearsPupilPremiumGrant(EYPP) Other	396,937 - . 3,000	- 6,150 10,017 -	396,937 6,150 16,017 3,000	332,439 4,615 9,055 4,000

In the prior year income fron grasts was £350,109 of which £13,670 was attributable to restricted funds and £336,439 was attributable to unrestricted funds.

Jecome from Investments

Bank interest

		2023	1022
		£	£
oe	rags	906,	25

In the current and prior year all income received was attributable to unrestricted funds.

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THE MALL NURSERY AND CRECHE

NOTES TO THE FENANCIAL STATEMENTS

for the Year Ended 31 March 2023

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THE MALL NURSERY AND CRECHE

NOYES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 March 2023

Employees (Continued)

Net Expenditere for the Year

Netexpenditure is stuted after charging/(crediting):
			2023	2022
			£	£
Independent Examiner'sFee Independentexamination Accountancy Depreciation			1,500 2,370 8,138	1,428 2,142 7,936
‘Trustees’ Remuneration and Expenses
Notrusteereceivedremuneration orwasreimbursed expenses intheyearunderreview.(2022: £nil).
TangibleFixed Assets	improvements £		Equipment £	Total £
Cost At 1] April2022 Additions		92,040 10,400 -	38,953 1,677 -	130,993 12,077 -
Disposals
At 31March2023	_	102,440	_ 45,530	143,070
Accumulated depreciarion At 1 Apri}2022 Chargeforperiod		87,104 3,291 ~	33,231 4,847 -	120,335 8,138 -
Eliminatedon disposals
At31March2023	,	90395... 38,078		i23473
Net Book Value At34March2023	guages	12,045	— 2332.	14597
At31March2022		4.236	5,722	10.658

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THE MALL NURSERY AND CRECHE

NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2023

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THE MALL NURSERY AND CRECHE

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 March 2123

AnalysisofNetAssetsBetweenFunds					Unrestricted Fonds i	Restricted Funds z		Total 2023 £
Fixedassets					14,597 456,487	- 604		14,597 457,091
Current assets Currentliabilities					(38,625)	-		(18,625)
AnalysisofNetAssetsBetweenFunds-PriorYear					Unrestricted Faas £	Restricted Funds £		Total 2022 £
Fixed. assets Currentassets Currentliabilities					10,658 380,139 (22,532)	“ 1,317 -		J0,658 381,456 (22,532)
					368265	. 13Ne		369582
UnrestrictedFunds	Balance 01-Apr-22 £			Income £	Expenditure £	Gains,losses & transfers £		Balance 31-Mar-23 £
Generalfunds Designated funds	sean	368,265 - ee 368,265	;	497,992 . seve RSNA 497,992	(411,049) - wisi we {31i042) .	(13,1495 10,400 Anata a . (2,749).	-	442,059 10,400 . 452.459.	.
UnrestrictedFunds-PriorYear		Balance 01-Apr-21 £		Tneome £	Expenditdre £	Gains,losses &transfers £		Balance 31-Mar-22 £
General funds		297,103		418,071	(346,909)	-		368,265
		231,103		-418.071	a(346,902)	-		368265

General funds are unrestricted funds that the Trustees are free to use in accordance with the charitable objects.

DesignatedThe designatedfunds fund represents the future depreciation attributable to the leasehold improvements to Unit 19 to be written off over the 5 year term of the lease. Depreciation will commence in the next fineficial year upon the opening of the new facility.

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THE MALL NURSERY AND CRECHE

NOTES TO FHE FINANCIAL STATEMENTS

for the Year Ended 31 March 2023

Restricted Funds

Restricted Funds
		Balance	Income:		Expenditi re	Gains, losses	Balance
		01-Apr-22				& transfers	31-Mar-23
		£	£		£	£	£
SEN Grant fund EYPPGrantFund		236 1,081	6,150 10,017		(9,135) (16,494)	2,749 .	- 604
		1337.	.	16,167		— (£5,629)	2.749
Restricted Funds - PriorYear
		Balance	Income		Expenditure	Gains, losses	Balance
		01-Apr-21				& transfers	31-Mar-22
		£	i		£	£	£
SENGrant fund		-	4,618		(4,379)	-	236
EYPP Grant Fund		393	9,055		(8,367)	-	1,081
	muy	=,393...	13.670.	-	(42746	-	inciee

SEN Grant Fund - Special Educational Needs funding is spesifically granted to provide 1 on 1 support for children with additional needs,

EYPP Grant Fund - Early Yéars Pupil Premium funding was received to help support children.who meet the pupil preminih criteria.

16 Related Party Transactions

There have been no related party transactions in the reporting period that require disclosure (2022: none).

Financial instruments

The income attributable to the charity’s financial assets monsured at amortised coat and the total interest income for financial agsets that are not measured at fair value was £906 (2022: £25).

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THE MALL NURSERY AND CRECHE

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE MALL NURSERY AND CRECHE (continued)

Thave 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.

RA Cox FCA

Miller & Co Chartered Accountants 5 Imperial Court

Laporte Way, Luton Bedfordshire LU4 8FE

30 January 2024

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