REGISTERED CHARITY NUMBER: 1036866
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
FOR
RED SQUIRRELS NURSERY
RED SQUIRRELS NURSERY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
RED SQUIRRELS NURSERY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021
The trustees present their report with the financial statements of the charity for the year ended 31 July 2021. 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 objects of the charity as contained within its trust constitution is to enhance the development and education of children under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups.
The aims of the charity are:
a. To provide high quality day care and education for children aged 2 to 5.
b. To help all children, regardless of sex, religious beliefs or ability to feel secure, happy and enjoy coming to nursery and gain in confidence.
c. To enable all children to fulfil their potential, whatever their ability.
d. To work through praise and encouragement, expect good standards of behaviour and enable children to work individually and together.
e. Through play, provide a stimulating and wide range of experiences and challenges to enable children to develop as active learners, to give a sound preparation for school life.
f. To enable children to leave the nursery and start primary school as happy, considerate and enquiring pupils.
g. To encourage parents to be involved in all aspects of their child's development.
ACHIEVEMENT AND PERFORMANCE
Review of Progress and Achievements
Building
The nursery and its covered outdoor area are organised to deliver the required six areas of learning in line with the EYFS.
Staff Training
The staff have continued to follow a training programme to ensure that they are up to date with all core training. Every member of staff holds a recognised first aid qualification.
Ofsted Inspection
The nursery has worked hard to implement the recommendations made in the last Ofsted report (March 2017 ), which graded the nursery as 'good'. An Action Plan has been drawn up and procedures have been put in place to satisfy the recommendations.
The Ofsted Inspector made two recommendations for the nursery to act upon:
a. Strengthen supervision systems further and ensure that targets set for staff development are more securely linked to improving outcomes for children.
b. Strengthen further the use of professional development opportunities to raise the quality of teaching to an even higher level.
Page 1
RED SQUIRRELS NURSERY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021
FINANCIAL REVIEW
The statement of financial activities shows a profit of £9,068.
The accounts show a profit this year, which is due to the increased income from more children attending the nursery, and the fantastic efforts the staff have made to keep the nursery running efficiently. When the nursery re-opened in September 2020 it had a new staff and management structure. It now works together with the Primary school with some pre-school children spending time in class one. The committee hopes that this collaboration will continue to attract more families to the nursery and therefore help it to run profitably.
The nursery monitors the budget closely to ensure appropriate spending. It has been a successful year despite the pandemic, and we are optimistic that this year will see the nursery as a whole, grow and progress.
The nursery now has four regular members of staff, including a manager, a deputy manager and an apprentice. We are pleased to offer a five day week, and will monitor this in line with the budget, and the number of children requiring childcare. Over the next year we will again monitor the budget closely and continue to try and attract new children to our nursery. We look forward to a successful year.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The charity operates from its own purpose-built accommodation on the site of Warcop C of E Primary School. A rent is paid to the school for use of the site and the school provides the nursery with certain services.
The nursery is a provider of education and care for children aged 2 to 5 years who travel from surrounding towns and villages. The charity is registered as a provider with OFSTED. We are also registered with the current Government Grant Scheme for eligible children to receive free/subsidised education from the age of 2 also the term following their 3rd birthday.
The Trustees currently employ 3 part-time members of staff, which includes bank staff, all of whom hold a recognised qualification in childcare. Volunteer helpers have also given their time to the charity on a regular basis. We are supported by an Early Years Development Worker and an Early Years Advisory Teacher.
The charity offers nursery education and care to children aged between 2 to 5 years. At Warcop, we have operated on 5 full days when economically possible, and this is sometimes reduced to four full days when there has been insufficient demand.
Members of staff have continued to implement the Early Years Foundation Stage, which was implemented in September 2008. Emphasis has been placed on observing and recording children's interests to inform the planning of activities. The nursery uses a "Tapestry Online Learning Journal" for every child, where development and progress is recorded and shared with each child's parent.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1036866
Principal address
Warcop C of E School Appleby-in-Westmorland Cumbria CA16 6NX
Page 2
RED SQUIRRELS NURSERY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021
Trustees
Mrs C Patterson Mrs C J Shihadah Mrs J Bailey (resigned 29.11.21) Mrs G Hutchison Chairperson (resigned 29.11.21) Mrs C Thorpe (appointed 29.11.21) Mrs E Hope (appointed 29.11.21) Mrs S Lofthouse (appointed 29.11.21) Mrs E Porter (appointed 29.11.21)
Independent Examiner
Mr J F Hornby, FCA J F Hornby & Co Chartered Accountants The Tower Daltongate Business Centre Daltongate Ulverston Cumbria LA12 7AJ
Approved by order of the board of trustees on 16 March 2022 and signed on its behalf by:
Mrs C J Shihadah - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RED SQUIRRELS NURSERY
Independent examiner's report to the trustees of Red Squirrels Nursery
I report to the charity trustees on my examination of the accounts of Red Squirrels Nursery (the Trust) for the year ended 31 July 2021.
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.
Mr J F Hornby, FCA J F Hornby & Co Chartered Accountants The Tower Daltongate Business Centre Daltongate Ulverston Cumbria LA12 7AJ
16 March 2022
Page 4
RED SQUIRRELS NURSERY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2021
| 31.7.21 | 31.7.20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 39,705 | 34,896 | |
| EXPENDITURE ON | |||
| Raising funds | 2 | 29,452 | 22,968 |
| Other | 1,185 | 1,991 | |
| Total | 30,637 | 24,959 | |
| NET INCOME | 9,068 | 9,937 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 13,980 | 4,043 | |
| TOTAL FUNDS CARRIED FORWARD | 23,048 | 13,980 |
The notes form part of these financial statements
Page 5
RED SQUIRRELS NURSERY
BALANCE SHEET 31 JULY 2021
| 31.7.21 | 31.7.20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank and in hand | 23,048 | 13,980 | |
| NET CURRENT ASSETS | 23,048 | 13,980 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 23,048 | 13,980 | |
| NET ASSETS | 23,048 | 13,980 | |
| FUNDS | 6 | ||
| Unrestricted funds | 23,048 | 13,980 | |
| TOTAL FUNDS | 23,048 | 13,980 |
The financial statements were approved by the Board of Trustees and authorised for issue on 16 March 2022 and were signed on its behalf by:
Mrs C J Shihadah - Trustee
The notes form part of these financial statements
Page 6
RED SQUIRRELS NURSERY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
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.
The financial statements have been prepared on a receipts and payments basis.
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.
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.
continued...
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RED SQUIRRELS NURSERY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021
2. RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | ||
|---|---|---|
| 31.7.21 | 31.7.20 | |
| £ | £ | |
| Staff costs | 25,847 | 20,457 |
| Support costs | 3,605 | 2,511 |
| 29,452 | 22,968 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2021 nor for the year ended 31 July 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2021 nor for the year ended 31 July 2020.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Childcare Administration No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Raising funds Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD Page 8 |
31.7.21 31.7.20 3 3 1 1 4 4 Unrestricted fund £ 34,896 22,968 1,991 24,959 9,937 4,043 13,980 continued... |
|---|---|
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
RED SQUIRRELS NURSERY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021
6. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||
|---|---|---|
| Net | ||
| movement | At | |
| At 1.8.20 | in funds | 31.7.21 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 13,980 |
9,068 | 23,048 |
| TOTAL FUNDS 13,980 |
9,068 | 23,048 |
| Net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 39,705 |
(30,637) | 9,068 |
| TOTAL FUNDS 39,705 |
(30,637) | 9,068 |
| Comparatives for movement in funds | ||
| Net | ||
| movement | At | |
| At 1.8.19 | in funds | 31.7.20 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 4,043 |
9,937 | 13,980 |
| TOTAL FUNDS 4,043 |
9,937 | 13,980 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 34,896 |
(24,959) | 9,937 |
| TOTAL FUNDS 34,896 |
(24,959) | 9,937 |
continued...
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RED SQUIRRELS NURSERY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021
6. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.8.19 | in funds | 31.7.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 4,043 | 19,005 | 23,048 |
| TOTAL FUNDS | 4,043 | 19,005 | 23,048 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 74,601 | (55,596) | 19,005 |
| TOTAL FUNDS | 74,601 | (55,596) | 19,005 |
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2021.
8. TANGIBLE FIXED ASSETS
The financial statements being prepared on a receipts and payments basis the cost of tangible fixed assets is not capitalised. At 31st July 2021 the charity owned tangible fixed assets with an estimated value of £2,280 (2020: £2,280).
Page 10
RED SQUIRRELS NURSERY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2021
| 31.7.21 | 31.7.20 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Nursery fees | 6,668 | 4,331 |
| Donations | 50 | 100 |
| Grants | 32,936 | 30,020 |
| Fundraising | 51 | 445 |
| 39,705 | 34,896 | |
| Total incoming resources | 39,705 | 34,896 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Wages | 25,394 | 20,457 |
| Pensions | 453 | - |
| 25,847 | 20,457 | |
| Other | ||
| Rent | 495 | 660 |
| Light and heat | 131 | 1,083 |
| Building maintenance | 559 | 248 |
| 1,185 | 1,991 | |
| Support costs | ||
| Management | ||
| Insurance | 1,946 | 1,357 |
| Telephone | 170 | 227 |
| Sundries and cleaning | 282 | 138 |
| Subscriptions | 223 | 231 |
| Activities | - | 184 |
| Milk | 13 | - |
| Fundraising | - | 148 |
| Uniforms | - | 96 |
| Training | 72 | 130 |
| School hours | 899 | - |
| 3,605 | 2,511 | |
| Total resources expended | 30,637 | 24,959 |
| Net income | 9,068 | 9,937 |
This page does not form part of the statutory financial statements
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