**REGISTERED COMPANY NUMBER: 02913840 (England and Wales) REGISTERED CHARITY NUMBER: 1039121**
## **CRANK NURSERY LIMITED**
**REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2021**
**CRANK NURSERY LIMITED**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**||6||
|**Cash Flow Statement**||7||
|**Notes to the Cash Flow Statement**||8||
|**Notes to the Financial Statements**|9|to|15|
|**Detailed Statement of Financial Activities**|16|to|17|
**CRANK NURSERY LIMITED (REGISTERED NUMBER: 02913840)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 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 charity's object and its principle activity is to utilise it's resources to benefit the public in such a way as to advance the education of children below and of compulsory school age by the provision of either or both day-care nursery facilities and Nursery School for such children. The children are mainly but not exclusively resident in Crank and the Rainford area of St. Helens. The charity is organised so that the trustees meet regularly to manage its affairs. The remaining staff are employed in the nursery.
In achieving these objectives and aims, the Trustees have identified the following specific purposes and value:
Organisational Purpose - Supporting children to be active citizens
Organisational Values - Seeing the possibilities to make a positive difference
- Valuing and celebrating diversity
- Supporting rights, needs, choices and dreams
- Being responsible, sustainable and innovative in our work
## **STRATEGIC REPORT**
## **Achievement and performance**
The trustees are pleased to report a successful year and staff turnover has remained low.
## **Financial review**
From a financial point of view the results for the year show a deficit of £4,372 compared to a deficit for the previous year of £35,469. The main reasons for this deficit are the temporary closure of the Nursery and temporary room closures due to Covid-19 resulting in loss of fees / income. As indicated in previous reports, the trustees have continued to operate an on-going programme of property maintenance.
## **Progress of the charity against its objective**
We have supported several local charities during the year, including Willowbrook Hospice, Crank Village Community Association, Tear drops, Children in Need and Rainford / Crank in Bloom.
## **Key performance indicators**
1. Nursery has been awarded the highest possible score of 5 stars from both the Environmental Health and St Helens MBC scores on the doors and achieved the Millies Mark Award.
2. Positive feedback and comments from parents, local schools and the Local Authority Early Years team.
## **Significant Positive and Negative factors that have affected the nursery**
The Covid-19 pandemic has created challenges but positive cases amongst staff and children have remained low. For a period of time only key worker children were allowed to attend Nursery so attendance was reduced. Nursery utilised the furlough scheme to offset this.
## **Reserves Policy**
The trustees have reviewed the Charity's need for reserves in line with guidance issued by the Charity Commission and have issued a detailed Reserves Policy. The charity has designated funds set aside for anticipated future expenditure as detailed in note 18 to the accounts. The trustees believe that in addition to known commitments, it is good financial practice to hold up to six months running costs in reserve, given that the charity's income could fluctuate.
An analysis of reserves at 31 March 2021 reveals that of total reserves of £288,695, £121,000 was held as designated funds leaving £167,695 as unrestricted general funds. This represents approximately 3 months running costs for the nursery.
## **Principal risks and uncertainties**
The trustees consider the major strategic, business and operational risks that the charity faces each year when considering budgets and business plans. Systems have been developed to monitor and control these risks to mitigate any impact that the risks may have in the future.
The Covid-19 pandemic resulted in the temporary closure of Nursery shortly before the year end of March 2020. The closure lasted for several weeks and was followed by a phased reopening. The pandemic has resulted in changes to working patterns which has successfully minimised the transition of the virus.
Page 1
**CRANK NURSERY LIMITED (REGISTERED NUMBER: 02913840)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **STRATEGIC REPORT**
## **Key management personnel**
The Trustees consider the key management personnel to be the management team. The remuneration of the key management personnel is set by the trustees with reference to available benchmarks of competitor pay.
## **Future plans**
Plans for the future include the continuing maintenance and improvement of the nursery, the main purpose to improve the facilities. The refurbishment of the outside play area is also being considered as this was postponed due to the pandemic. All staff will continue to keep their training up to date, including Paediatric first aid and Safeguarding.
We are continually striving to achieve the best possible outcome for the children by providing qualified and experienced staff and maintaining the purchase of good quality resources and equipment.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Crank Nursery is a Charitable Company Limited by Guarantee, governed by a Memorandum and Articles of Association.
Overall direction and supervision of the activities of the Association is exercised by a Management Committee of 5 Directors including the officers (Chair: Mrs BE Brighouse and Company Secretary: Mrs S. Roper). The day to day running of the Nursery is undertaken by Mrs Sarah Morgan, Manager.
## **METHOD, APPOINTMENT, INDUCTION AND TRAINING OF TRUSTEES**
All of the trustees are respected members of the local community and understand the ethos of our charity. The trustees have a background in business and/or working with children and have current enhanced DBS checks.
New trustees must be nominated by an existing member of the Nursery Board.
Potential new trustees will be invited for an informal visit to the Nursery and to meet the Board. If the Board deem the candidate suitable, the next stage in the procedure would be for them to be invited for an interview with the Board and the Nursery Manager. Following the interview a vote will be held and if agreed by a majority of the Board the candidate will be invited to join the Board as a Trustee.
Training of the Trustees is an ongoing process governed by the needs of the Nursery.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
02913840 (England and Wales)
## **Registered Charity number**
1039121
## **Registered office**
Crank Nursery Crank Hill Crank St Helens Merseyside WA11 7SD
## **Trustees**
Mr J Adams Mrs B E Brighouse Mr F D Monk (resigned 1.11.20) Mr S A Rigby Mrs P A Davenport
## **Company Secretary**
Mrs S Roper
Page 2
**CRANK NURSERY LIMITED (REGISTERED NUMBER: 02913840)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner**
Mr David Hudd BA FCA
Institute of Chartered Accountants in England and Wales Livesey Spottiswood Ltd Chartered Accountants 17 George Street St Helens Merseyside WA10 1DB
## **Bankers**
NatWest Bank plc 5 Ormskirk St St Helens Merseyside WA10 1DR
## **EVENTS SINCE THE END OF THE YEAR**
Information relating to events since the end of the year is given in the notes to the financial statements.
## **DISABLED EMPLOYEES**
In accordance with the charity's Equal Opportunity Policy, the Charity has an established fair employment practice in the recruitment, selection, retention and training of disabled staff.
## **EMPLOYEE INVOLVEMENT**
Employees attend regular staff meetings where their opinions on various nursery matters can be discussed and debated. The nursery has implemented a number of detailed policies regarding:
- Equality and Inclusion
- Safer recruitment
- Health and Safety
- Safeguarding and Welfare
The full details of all policies are available in the nursery.
## **BENEFIT TO THE PUBLIC**
The Trustees confirm they have regard for the Public Benefit guidance issued by the Charity Commission as the Charities Act 2011 requires the Charity to demonstrate the Public Benefit of our aims.
The charity provides affordable, quality childcare for children within the local community along with employment for over 30 members of staff. The nursery also allows the use of the premises for the local community to use for fund raising purposes and as a polling station.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:
................................................................................
Mrs S Roper - Secretary
Page 3
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CRANK NURSERY LIMITED (REGISTERED NUMBER: 02913840)**
## **Independent examiner's report to the trustees of Crank Nursery Limited ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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 David Hudd BA FCA Institute of Chartered Accountants in England and Wales Livesey Spottiswood Ltd Chartered Accountants 17 George Street St Helens Merseyside WA10 1DB Date: .............................................
Page 4
## **CRANK NURSERY LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
308,235
**Charitable activities**
4
Operation of nursery
413,825
Investment income
3
92
Other income
-
**Total**
722,152
**EXPENDITURE ON**
**Charitable activities**
5
Operation of nursery
726,524
**NET INCOME/(EXPENDITURE)**
(4,372)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
293,067
**TOTAL FUNDS CARRIED FORWARD**
288,695|Restricted
fund
£
-
-
-
-
-
-
-
-
-|2021
Total
funds
£
308,235
413,825
92
-
722,152
726,524
(4,372)
293,067
288,695|2020
Total
funds
£
187,893
598,140
453
497
786,983
822,452
(35,469)
328,536
293,067|
|---|---|---|---|
The notes form part of these financial statements
Page 5
**CRANK NURSERY LIMITED (REGISTERED NUMBER: 02913840)**
## **BALANCE SHEET 31 MARCH 2021**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
10
26,759
**CURRENT ASSETS**
Debtors
11
19,607
Cash at bank
309,224
328,831
**CREDITORS**
Amounts falling due within one year
12
(66,895)
**NET CURRENT ASSETS**
261,936
**TOTAL ASSETS LESS CURRENT LIABILITIES**
288,695
**NET ASSETS**
288,695
**FUNDS**
14
Unrestricted funds
**TOTAL FUNDS**|Restricted
fund
£
-
-
-
-
-
-
-
-|2021
Total
funds
£
26,759
19,607
309,224
328,831
(66,895)
261,936
288,695
288,695
288,695
288,695|2020
Total
funds
£
25,709
24,916
283,824
308,740
(41,382)
267,358
293,067
293,067
293,067
293,067|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
Mrs B E Brighouse - Trustee
The notes form part of these financial statements
Page 6
## **CRANK NURSERY LIMITED**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
**Change in cash and cash equivalents in the**
**reporting period**
**Cash and cash equivalents at the beginning of**
**the reporting period**
**Cash and cash equivalents at the end of the**
**reporting period**|2021
£
32,477
32,477
(7,169)
92
(7,077)
25,400
283,824
309,224|2020
£
940
940
(1,933)
453
(1,480)
(540)
284,364
283,824|
|---|---|---|
The notes form part of these financial statements
Page 7
**CRANK NURSERY LIMITED**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021**
## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES**
||||2021|2020|
|---|---|---|---|---|
||||£|£|
|**Net expenditure for the reporting period (as per the Statement of Financial**|||||
|**Activities)**|||(4,372)|(35,469)|
|**Adjustments for:**|||||
|Depreciation charges|||6,119|7,150|
|Interest received|||(92)|(453)|
|Decrease in debtors|||5,309|23,204|
|Increase in creditors|||25,513|6,508|
|**Net cash provided by operations**|||32,477|940|
|**ANALYSIS OF CHANGES IN NET FUNDS**|||||
||At 1/4/20||Cash flow|At 31/3/21|
|||£|£|£|
|**Net cash**|||||
|Cash at bank|283,824||25,400|309,224|
||283,824||25,400|309,224|
|**Total**|283,824||25,400|309,224|
## 2. **ANALYSIS OF CHANGES IN NET FUNDS**
The notes form part of these financial statements
Page 8
**CRANK NURSERY LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The financial statements are prepared in sterling which is the functional currency of the charity.
## **Legal status of the charity**
The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
## **Going concern**
The trustees consider that there are no material uncertainties about the ability of Crank Nursery Limited to continue as a going concern.
## **Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be reliably measured.
Income from Nursery fees are included in the Statement of Financial Activities (SOFA) when: -the charity becomes entitles to the fees and any conditions for receipt are met, -the trustees are reasonably certain they will receive it; and -the trustees are reasonably certain that the value can be reliably measured
Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably.
Interest on deposit account funds held is included when receivable and the amount can be measured reliably by the charity which is normally upon notification of the interest paid or payable by the bank.
## **Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party. it is probable that settlement will be required and the amount of the obligation can be measured reliably. All 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 attributable to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Fixed assets are capitalised at cost, where acquired or management's approximate valuation of cost where donated.
Depreciation is provided to write off the cost, less an estimated residual value, or all fixed assets evenly over their expected economic useful lives on a reducing balance basis as follows:-
Classroom equipment - 25% on reducing balance Fixtures and fittings - 20% on reducing balance Computer equipment - 33% on reducing balance
The need for any impairment of a fixed asset write-down is considered if there is concern over the carrying value of an asset and is assessed by comparing that carrying value against the value in use or realisable value of the asset when appropriate.
## **Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
continued...
Page 9
**CRANK NURSERY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Designated funds have been established out of the charity's unrestricted general fund to cover anticipated future expenditure. These funds are being built up in a reserve account with the charity's bankers.
## **Hire purchase and leasing commitments**
Rentals payable under operating leases are charged against profits on a straight line basis over the periods of the leases.
## **Employee benefits**
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
## **Going concern**
The Covid-19 pandemic resulted in the temporary closure of the Nursery during the year. The closure lasted for several weeks and was followed by a phased reopening resulting in a total loss of income for a period. The charity has received support from various local and national government schemes in order to assist the organisation through these difficult times.
The trustees consider that there are no material uncertainties about the ability of Crank Nursery Limited to continue as a going concern.
## **Grants**
Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.
## **2. DONATIONS AND LEGACIES**
## **3.**
|Grants
Grants received, included in the above, are as follows:||2021
£
308,235||2020
£
187,893|
|---|---|---|---|---|
|||2021||2020|
|||£||£|
|St. Helens Borough Council (Unrestricted)||190,992||178,049|
|Milk Grant (Unrestricted)||3,162||5,844|
|Furlough Income||114,081||-|
|Tesco Grant for Sensory Room (Restricted)||-||4,000|
||||||
||||||
|||308,235||187,893|
||||||
|**INVESTMENT INCOME**
Interest received||2021
£
92||2020
£
453|
All investment income in the current and previous year relates to unrestricted funds.
continued...
Page 10
**CRANK NURSERY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **4. INCOME FROM CHARITABLE ACTIVITIES**
|||2021|2020|
|---|---|---|---|
||Activity|£|£|
|Nursery fees|Operation of nursery|413,825|598,140|
All income from charitable activities in the current and previous year relates to unrestricted funds.
## **5. CHARITABLE ACTIVITIES COSTS**
|**CHARITABLE ACTIVITIES COSTS**||||
|---|---|---|---|
|||Support||
||Direct|costs (see||
||Costs|note 6)|Totals|
||£|£|£|
|Operation of nursery|667,852|58,672|726,524|
The expenditure in relation to charitable activities costs in the current year was £726,524 (2020: £818,452) unrestricted and £Nil (2020: £4,000) restricted.
## **6. SUPPORT COSTS**
|**SUPPORT COSTS**||||
|---|---|---|---|
|||Governance||
||Management|costs|Totals|
||£|£|£|
|Operation of nursery|42,028|16,644|58,672|
Governance costs is comprised of Accountancy fees of £7,062 (2020 - £6,492), Legal and professional fees of £8,742 (2020 - £6,902) and Bank charges of £840 (2020 - £898).
All expenditure in relation to support costs in the current and previous year was unrestricted.
## **7. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging independent examiners' remuneration amounting to £3,270 (2020 - £3,210).
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
continued...
Page 11
**CRANK NURSERY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **9. STAFF COSTS**
||31/03/21|31/03/20|
|---|---|---|
||||
||£|£|
||||
|Wages and salaries|520,378|596,862|
|Social security costs|34,870|35,688|
|Pensions|15,423|17,323|
|Redundancy costs|12,378|-|
||||
||583,049|649,873|
||||
||||
|The average number of employees during the year was as follows:|||
||31/03/21|31/03/20|
||||
||||
|Direct charitable|31|34|
|Administration|2|2|
||||
||33|36|
||||
No employee had employee benefits in excess of £60,000 (2020: £Nil). Pension costs are allocated to activities in proportion to the related staffing costs incurred and are wholly charged to unrestricted funds.
The total employee benefits of the key management personnel of the Nursery were £86,678 (2020: £88,682).
Indemnity insurance for the trustees is covered at a premium of £638 (2020: £633).
## **10. TANGIBLE FIXED ASSETS**
|**TANGIBLE FIXED ASSETS**|||||
|---|---|---|---|---|
|||Fixtures|||
||Classroom|and|Computer||
||equipment|fittings|equipment|Totals|
||£|£|£|£|
|**COST**|||||
|At 1 April 2020|56,243|92,077|3,360|151,680|
|Additions|-|-|7,169|7,169|
|At 31 March 2021|56,243|92,077|10,529|158,849|
|**DEPRECIATION**|||||
|At 1 April 2020|51,228|72,767|1,976|125,971|
|Charge for year|1,254|3,862|1,003|6,119|
|At 31 March 2021|52,482|76,629|2,979|132,090|
|**NET BOOK VALUE**|||||
|At 31 March 2021|3,761|15,448|7,550|26,759|
|At 31 March 2020|5,015|19,310|1,384|25,709|
continued...
Page 12
**CRANK NURSERY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade debtors
Prepayments and accrued income
**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income|2021
£
16,548
3,059
19,607
2021
£
662
6,661
5,435
54,137
66,895|2020
£
21,268
3,648|
|---|---|---|
|||24,916|
|||2020
£
14
7,230
4,161
29,977|
|||41,382|
## **13. LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
|Within one year
Between one and five years
**14.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/4/20
£
293,067
293,067
Incoming
resources
£
722,152
722,152|2021
2020
£
£
1,667
1,740
841
1,513
2,508
3,253
Net
movement
At
in funds
31/3/21
£
£
(4,372)
288,695
(4,372)
288,695
Resources
Movement
expended
in funds
£
£
(726,524)
(4,372)
(726,524)
(4,372)|2020
£
1,740
1,513
3,253
At
31/3/21
£
288,695|2020
£
1,740
1,513|
|---|---|---|---|---|
|||||3,253|
||||288,695||
||||(4,372)||
continued...
Page 13
**CRANK NURSERY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **14. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
Comparative net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Restricted funds
**TOTAL FUNDS**|At 1/4/19
£
328,536
328,536
Incoming
resources
£
782,983
4,000
786,983|Net
movement
At
in funds
31/3/20
£
£
(35,469)
293,067
(35,469)
293,067
Resources
Movement
expended
in funds
£
£
(818,452)
(35,469)
(4,000)
-
(822,452)
(35,469)|
|---|---|---|
## **15. EMPLOYEE BENEFIT OBLIGATIONS**
During the year the company made contributions to a defined contribution pension scheme. The amount paid during the year was £15,423 (2020: £17,323).
## **16. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **17. POST BALANCE SHEET EVENTS**
On 1st August 2021 the company renewed the lease on the premises from which it operates at an amount of £20,000 per annum with incremental increases until 31st July 2045.
## **18. COMPANY LIMITED BY GUARANTEE**
The Charity is a company Limited by Guarantee and has no share capital.
continued...
Page 14
**CRANK NURSERY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **19. DESIGNATED FUNDS**
To cover anticipated future expenditure, funds are being built up in a reserve account with the NatWest. At the year end the balances were as follows:-
|balances were as follows:-||
|---|---|
||£|
|Repairs and improvements fund|30,000|
|Staff costs fund|23,000|
|Soft play area fund|45,000|
|Future lease commitment fund|23,000|
Page 15
**CRANK NURSERY LIMITED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Grants
**Investment income**
Interest received
**Charitable activities**
Nursery fees
**Other income**
Commission received
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Employers' national insurance
Pensions
Redundancy costs
Cost of sales - Purchases
Rent
Rates & water
Light & heat
Repairs & maintenance
Depreciation
Cleaning expenses
Toys, art & education supplies
Insurance
Training costs
Sundry expenses
COVID-19 expenses
**Support costs**
**Management**
Wages
Employers national insurance
Insurance
Telephone
Other office expenses
Travel expenses
**Governance costs**
Accountancy fees
Legal and professional fees
Carried forward|2021
£
308,235
92
413,825
-
722,152
489,860
32,756
15,423
12,378
16,122
20,000
7,072
13,029
19,583
6,119
11,459
5,753
6,509
3,777
6,576
1,436
667,852
30,518
2,114
452
5,188
3,756
-
42,028
7,062
8,742
15,804|2020
£
187,893
453
598,140
497|
|---|---|---|
|||786,983
565,996
33,711
17,323
-
26,043
20,000
11,572
13,910
24,741
7,150
9,145
12,483
6,290
1,722
12,181
-|
|||762,267
30,866
1,977
448
6,136
6,020
446|
|||45,893
6,492
6,902
13,394|
This page does not form part of the statutory financial statements
Page 16
**CRANK NURSERY LIMITED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
|**Governance costs**
Brought forward
Bank charges
Total resources expended
**Net expenditure**|2021
£
15,804
840
16,644
726,524
(4,372)|2020
£
13,394
898
14,292
822,452
(35,469)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 17