Little Owls (Broseley)
Charity Number: 1043532
Trustees' Report and Unaudited Accounts
31 March 2023
Little Owls (Broseley) Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Accounts | 6 to 9 |
| Detailed Statement of Financial Activities | 10 to 11 |
Page 1
Little Owls (Broseley) Trustees Annual Report
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1043532
Principal Office
Dark Lane School Campus Dark Lane Broseley Shropshire TF12 5LW
Trustees
The following trustees served during the year:
L. Bailey K. Harley K. Lawrence
Accountants
P1 Accounting Services Ltd Unit C11 Tweedale Industrial Estate Madeley Telford TF7 4JR
Bankers
Lloyds Bank PLC 8 High Street Bridgnorth Shropshire WV16 4DN
OBJECTIVES AND ACTIVITIES
The aims of the charity are to enhance the development and education of the children primarily under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups. This is done by offering the appropriate play, education and care facilities, family learning and extended hours groups, together with the rights of parents to take responsibility for and to become involved in the activities of such groups, ensuring that such groups offer opportunities for all children whatever their race, culture, religion, means or ability. We continue to develop our practice with continued professional development ensuring our staff operate to the highest standard. We receive government funding for three and four year olds and continue to offer sufficient places for parents to use this entitlement.
ACHIEVEMENTS AND PERFORMANCE
Page 2
Little Owls (Broseley) Trustees Annual Report
With increasing costs across most sectors, we have tried to keep our prices low to ensure all families can still access affordable, good quality childcare. Following an OFSTED inspection in September 2022, we maintained the grading of 'Good' which has allowed the nursery to continue claiming the 2-year old funding.
FINANCIAL REVIEW
Any reserves generated are placed in a deposit account to pay for unexpected contingencies and to build up a reserve to pay for replacement fixed assets.
PLANS FOR FUTURE PERIODS
Our plan is to continue to provide nursery services at the standard achieved in the past and to expand the activities offered to both children and parents throughout the year. However, we anticipate a challenging year ahead due to the new funding being introduced from April 2024 for two-year olds and 9-month olds from September 2024, and a gradual increase until September 2025.
The structure of the nursery is set to remain the same and investment is to be made in both staff training and the services currently offered.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The nursery is registered with Ofsted. The terms of this registration means the nursery must adhere to their welfare requirements. These are regulated by Ofsted through their inspections. The nursery is also regulated termly by Shropshire Council. HR policies are currently developed through the support of Peninsula.
A nursery manager is employed to oversee the day to day running of the nursery. The parent committee meet every six to eight weeks to oversee and support this. The nursery also employs several other staff including administration and room leaders.
STATEMENT OF TRUSTEE'S RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are a group of people charged with the governance of the charity. During the year, no trustee had any financial interest in the charity.
Signed on behalf of the charity's trustees
L. Bailey Trustee 30 November 2023
Page 3
Little Owls (Broseley) Statement of Financial Activities
for the year ended 31 March 2023
| Notes Income and endowments from: Donations and legacies 2 Charitable activities 3 Investments 4 Total Expenditure on: Charitable activities 5 Other 6 Total Net gains on investments Net expenditure 7 Transfers between funds Net expenditure before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds | Total funds | Total funds | |
|---|---|---|---|---|
| 2023 | 2023 | 2022 | ||
| £ | £ | £ | ||
| - | - | 1 | ||
| 338,552 | 338,552 | 295,254 | ||
| 106 | 106 | 2 | ||
| 338,658 | 338,658 | 295,257 | ||
| 16,932 | 16,932 | 21,700 | ||
| 340,992 | 340,992 | 304,031 | ||
| 357,924 | 357,924 | 325,731 | ||
| - | - | - | ||
| (19,266) | (19,266) | (30,474) | ||
| - | - | - | ||
| (19,266) | (19,266) | (30,474) | ||
| (19,266) | (19,266) | (30,474) | ||
| 129,953 | 129,953 | 160,427 | ||
| 110,687 | 110,687 | 129,953 | ||
Page 4
Little Owls (Broseley) Balance Sheet at 31 March 2023
| Charity No. 1043532 Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors:Amount falling due within one year 11 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 12 Unrestricted funds 12 General funds Reserves 12 Total funds |
2023 £ 104,223 104,223 118 11,114 11,232 (4,768) 6,464 110,687 110,687 110,687 110,687 110,687 110,687 |
2022 £ 111,767 |
|---|---|---|
| 111,767 463 22,939 |
||
| 23,402 (5,216) |
||
| 18,186 129,953 |
||
| 129,953 | ||
| 129,953 | ||
| 129,953 | ||
| 129,953 | ||
| 129,953 |
Approved by the trustees on 30 November 2023
And signed on their behalf by:
L. Bailey Trustee 30 November 2023
Page 5
Little Owls (Broseley) Notes to the Accounts
for the year ended 31 March 2023
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Income
Recognition of All income is recognised in the Statement of Financial Activity once the charity has income entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Recognition of Liabilities are recognised as expenditure as soon as there is a legal or constructive expenditure obligation committing the charity to that expenditure, it is probably that a transfer of economic benefits will be required in settlement and the amount of the obligation can me measured reliably. Expenditure 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.
-
2 Income from donations and legacies
-
3 Income from charitable activities
| Unrestricted £ 338,552 338,552 |
Total 2023 £ - - Total 2023 £ 338,552 338,552 |
Total 2022 £ 1 |
|---|---|---|
| 1 | ||
| Total 2022 £ 295,254 |
||
| 295,254 |
Page 6
Little Owls (Broseley) Notes to the Accounts
4 Income from investments
| 5 Expenditure on charitable activities Expenditure on charitable activities Governance costs 6 Other expenditure Employee costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 7 Net expenditure before transfers This is stated after charging: Depreciation of owned fixed assets 8 Staff costs Salaries and wages Pension costs No employee received emoluments in excess of £60,000. |
Unrestricted £ 106 106 Unrestricted £ 16,932 16,932 Unrestricted £ 288,200 24,990 7,544 16,303 3,955 340,992 2023 £ 7,544 2023 283,919 3,862 287,781 |
Total 2023 £ 106 106 Total 2023 £ 16,932 16,932 Total 2023 £ 288,200 24,990 7,544 16,303 3,955 340,992 |
Total 2022 £ 2 |
|---|---|---|---|
| 2 | |||
| Total 2022 £ 21,700 |
|||
| 21,700 | |||
| Total 2022 £ 262,702 24,733 7,662 7,374 1,560 |
|||
| 304,031 | |||
| 2022 £ 7,662 2022 258,743 3,566 |
|||
| 262,309 | |||
Page 7
Little Owls (Broseley) Notes to the Accounts
9 Tangible fixed assets
| 9 Tangible fixed assets |
||||
|---|---|---|---|---|
| Cost or revaluation At 1 April 2022 At 31 March 2023 Depreciation and impairment At 1 April 2022 Depreciation charge for the year At 31 March 2023 Net book values At 31 March 2023 At 31 March 2022 10 Debtors Prepayments and accrued income 11 Creditors: amounts falling due within one year Trade creditors Other taxes and social security Accruals 12 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds 13 Analysis of net assets between funds Fixed assets Net current assets |
£ 166,936 166,936 63,311 6,677 69,988 96,948 103,625 2023 £ 118 118 2023 £ 2,755 693 |
£ 42,376 42,376 34,234 867 35,101 7,275 8,142 |
£ 209,312 |
|
| 209,312 | ||||
| 97,545 7,544 |
||||
| 105,089 | ||||
| 104,223 | ||||
| 111,767 | ||||
| 2022 £ 463 |
||||
| 463 | ||||
| 2022 £ 1,680 2,396 |
||||
| 1,320 | 1,140 | |||
| At 1 April 2022 |
4,768 Incoming resources (including other gains/losses) £ 338,658 338,658 |
Resources expended £ (357,924) (357,924) Unrestricted funds £ 104,223 6,464 110,687 |
5,216 | |
| At 31 March 2023 £ 110,687 |
||||
| 129,953 | ||||
| 129,953 | 110,687 | |||
| Total £ 104,223 6,464 |
||||
| 110,687 |
Page 8
Little Owls (Broseley) Notes to the Accounts
14 Reconciliation of net debt
| Reconciliation of net debt | |||
|---|---|---|---|
| Cash and cash equivalents Net debt |
At 1 April 2022 £ |
Cash flows £ |
At 31 March 2023 £ |
| 22,939 | (11,825) | 11,114 | |
| 22,939 22,939 |
(11,825) (11,825) |
11,114 | |
| 11,114 | |||
| Commitments Operating lease commitments Annual commitments under non-cancellable operating leases are as follows: 2023 2023 Land and buildings Other £ £ Operating leases with expiry date: Pension commitments 2023 £ The pension cost charge to the charity amounted to: 3,862 |
2022 Land and buildings £ |
2022 Other £ 2022 £ 3,566 |
15 Commitments
Page 9
Little Owls (Broseley) Detailed Statement of Financial Activities
for the year ended 31 March 2023
| Income and endowments from: Donations and legacies Charitable activities Investments Total income and endowments Expenditure on: Charitable activities Total of expenditure on charitable activities Employee costs Salaries/wages Pension costs Staff entertainment Premises costs Rent Rates Light, heat and power Premises cleaning Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of Equipment leasing and hire charges General insurances Stationery and printing Sundry expenses |
Unrestricted funds 2023 £ - - 338,552 338,552 106 106 338,658 16,932 16,932 16,932 283,919 3,862 419 288,200 3,840 510 7,128 5,219 8,293 24,990 7,544 7,654 2,511 956 3,224 |
Total funds 2023 £ - - 338,552 338,552 106 106 338,658 16,932 16,932 16,932 283,919 3,862 419 288,200 3,840 510 7,128 5,219 8,293 24,990 7,544 7,654 2,511 956 3,224 |
Total funds 2022 £ 1 |
|---|---|---|---|
| 1 | |||
| 295,254 | |||
| 295,254 | |||
| 2 | |||
| 2 | |||
| 295,257 21,700 |
|||
| 21,700 | |||
| 21,700 258,743 3,566 393 |
|||
| 262,702 | |||
| 3,840 629 8,692 6,730 4,842 |
|||
| 24,733 | |||
| 7,662 3,356 2,209 520 114 |
Page 10
Little Owls (Broseley) Detailed Statement of Financial Activities
| Little Owls (Broseley) Detailed Statement of Financial Activities |
|||
|---|---|---|---|
| Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
1,958 23,847 3,955 3,955 340,992 357,924 - (19,266) (19,266) - (19,266) 129,953 110,687 |
1,958 23,847 3,955 3,955 340,992 357,924 - (19,266) (19,266) - (19,266) 129,953 110,687 |
1,175 |
| 15,036 | |||
| 1,560 | |||
| 1,560 | |||
| 304,031 | |||
| 325,731 - |
|||
| (30,474) | |||
| (30,474) - |
|||
| (30,474) | |||
| 160,427 | |||
| 129,953 |
Page 11