## **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