OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED

(A company limited by guarantee)

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Company registration number: 3287888 Registered charity number: 1059859

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

CONTENTS Page
Trustees’ report 1 – 9
Independent examiner’s report 10
Statement of financial activities 11
Balance sheet 12 -13
Cash flow statement 14
Notes to the financial statements 15 – 23

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021

The trustees present their report and the financial statements for the year ended 31 March 2021. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

OUR PURPOSE AND ACTIVITIES

The Charity’s mission statement reads:

Our purpose is to relate to each child as a unique individual and tailor our care and teaching to their specific needs in order to equip each child with a love of learning that will help them to flourish and reach their full potential. Our vision is to invite children into a wonderful, playful, learning adventure; to continue to deliver a consistently excellent service to the communities we serve and to be their first choice.

We are committed to:

We will work in partnership with parents, carers, children, staff, volunteers, Trustees, funders and the wider community to realise our vision, values and purpose. These commitments are underpinned by the Charity’s updated vision and values, which were developed by the whole staff team in 2016 and revised in 2019:

ACHIEVEMENTS AND PERFORMANCE

As with all sectors of society, 2020/21 presented the charity with significant challenges. The impacts of the Coronavirus pandemic were felt throughout the financial year, which began with the Centre restricted to key worker childcare, while the vast majority of staff were furloughed. After re-opening more fully during the summer, the charity was required to implement a wide array of complex and operationally inefficient control measures. “Bubbled” year groups, contact group isolations and additional monitoring & reporting all increased operating costs, while lower attendance, restricted hours and no new intake limited private income.

The charity was able to secure external funding from a variety of sources including the National Lottery Communities Fund and mosaic of private charitable trusts. Alongside the support of the Coronavirus Job Retention Scheme (furlough), these donations were essential in keeping the charity’s finances largely balanced throughout this unprecedented disruption, while remaining open at all times and offering the maximum possible value and consistency of support to its service users.

1

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021 (continued)

Although the charity’s financial reserves could have been used to ride out extended disruption, the ongoing underfunding of Early Years services means that there was little confidence that the charity would be able to rebuild these required reserves after the immediate challenges passed. Generating significant surpluses for several years would have required expenditure (and therefore service quality) to be cut to unacceptably low levels, while also increasing private fees in a way that would have put childcare out of the reach of many local families. As such, it was deemed essential to the charity’s overall mission that everything possible was done to avoid significant depletion of the reserves, particularly as initial estimates as to the length of the disruption were likely to be highly inaccurate.

In consideration of the extreme challenges faced, the charity’s strategic and practice development plans were reduced to three simple goals:

  1. Mitigate the financial impacts of the crisis by any means possible

  2. Provide quality, consistent childcare and family support services

  3. Take action to protect the staff team’s safety, health and emotional wellbeing – whether actively working or furloughed.

External training opportunities were understandably limited throughout the year, but some courses did continue online. One member of staff completed their Level 3 Diploma and another finished their Degree in Early Years. A full inset day was delivered in August 2020.

Although co-working and community activities were also restricted, the charity developed innovative solutions including art displays in public places and Covid-secure events such as a walking trail of murals in St Pauls that families could follow as part of celebrations for Black History Month. Creative solutions were found to allow a full calendar of cultural and religious celebrations to be celebrated, whilst staff stayed in touch with children who were unable to attend by sending activities home and sharing video recordings of songs and stories.

The Centre is registered by OFSTED and has consistently received positive feedback through the inspection process. The outcome of a full OFSTED inspection in August 2016 was that the quality of both the education and care provided is “Good”, with many areas being “Outstanding”. This Ofsted rating is a sign of continued high standards and improvement at the Centre before and since the previous inspection in 2012, as the requirements for a “Good” grading have become significantly more challenging in the intervening period. The report highlights some particular areas of strength and notes that: “Children enjoy their time in nursery and play, learn and develop well. They have access to a good range of resources that effectively support their enjoyment and progress”, “there is an effective key-person system” and “staff plan challenging activates based on their interests”. OFSTED also detailed that the managers and staff work successfully together as a team and maintain good relationships with parents. Reinspection is expected within the 2021/22 academic year.

The Centre is also assessed against the Local Authority’s Quality Improvement Framework and has been consistently rated as providing good provision, with many areas of outstanding performance.

2

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021 (continued)

How our activities deliver public benefit

The Trustees have had due regard to the Charity Commission guidance on public benefit in deciding what activities the Charity should undertake and confirm that all the Charity’s activities are undertaken to further our charitable purposes for the public benefit. All of our charitable activities focus on the childcare, education and support services for families in the local community and are undertaken to further our charitable purposes for the public benefit.

FINANCIAL REVIEW

Financial position and performance of the charity

The charity’s main funding comes from two sources: grant funding for nursery provision from Bristol City Council; and nursery fees from parents.

During the year the charity received total income of £850,927, of which £128,383 was restricted income. It had expenditure for the year of £817,227, of which £141,418 was restricted. There was therefore total net income for the year of £33,700.

At 31 March 2021 the charity had net assets of £626,395, of which £231,522 are unrestricted funds, and £394,873 are restricted funds. Movements in restricted funds are shown in note 12 to the accounts.

Risk management

The major risks to which the charity is exposed have been reviewed and systems are in place to mitigate these risks.

Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects.

Procedures are in place to ensure compliance with health and safety of staff, volunteers, service users and visitors to the centre including the protection of children.

The continuing implementation of the Early Years Foundation Stage (EYFS) and use of the Bristol Standard Quality Framework ensure a consistent quality for all operational aspects of the organisation.

An operational plan is in place and regular reviews take place to address external risks and ensure that the charity continues to deliver its aims within the context of the changing political and funding environment. All procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.

3

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021 (continued)

Reserves policy

The trustees have examined the charity’s requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be at least 3 months of the expenditure, which equates to approximately £180,000. The actual free reserves at 31 March 2021 were £157,009 (2020: £118,344).

PLANS FOR THE FUTURE

As several of the restrictions and challenges faced will continue into 2021/22, the charity’s immediate priorities remain simplified. Once there is increased confidence in its future operating environment, the charity plans to continue to build on existing partnership working arrangements to develop and support the delivery of services and improve the life chances of children and families. It plans to review current services to ensure that activities continue to fulfil the charitable aims in the evolving communities it serves, building its strengths through a partnership approach. Specific plans include the continuation of childcare and education services, the reintroduction of internal and external groups and activities for parents and striving to ensure as close a working relationship as possible is maintained with the Local Authority, whilst managing the ongoing delivery of an increasingly unsustainable FEEE funding system for three and four-year-olds. A full Practice Development Plan is in place and comprises elements deferred from 2020/21, as well as new requirements such as the overhaul of the EYFS Curriculum that will be in use from September 2021. The charity’s Practice Manager returned from Maternity Leave at the start of 2021/22 and will be leading this considerable project with support from the senior team.

The high-level goals the charity will seek to deliver are: consistently good and improving standards of care and education for all children attending the Centre, on-going financial sustainability and the attainment of a good or outstanding Ofsted inspection rating in 2021/22.

The garden areas have not been refreshed since 2010 and after extended delays to this project, it is hoped that a thorough and practice-lead consultation will make the best use of space and provide enhanced learning opportunities for all attending children. Financial restrictions may lead to this project being undertaken in a piecemeal fashion, with a combined ‘single contractor’ project likely to be unaffordable in the short to medium term.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is a charitable company limited by guarantee, incorporated on 4 December 1996 and registered as a charity on 18 December 1996. The company was established under a Memorandum of Association which established the object and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

4

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021 (continued)

Recruitment and appointment of management committee

The directors of the company are also charity trustees for the purposes of the charity law and under the company’s Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are elected each year at the organisation’s Annual General Meeting.

The charity’s work focuses on providing services for families living and working in a multicultural area of deprivation. The Management Committee seeks to ensure that the needs of all sectors of the community are reflected through the diversity of the trustee body. The emphasis is on maintaining a majority of local parents as members, and drawing on the expertise of local partner organisations and individuals with a particular interest in supporting the work of the organisation.

Parents using Centre services are encouraged to join the Committee and opportunities are advertised through the Centre Newsletter, local networks and by word of mouth. The charity shares a site with and works in partnership with The City Academy.

Trustee induction and training

Most trustees are already familiar with the practical work of the charity having used its services or worked in partnership with the organisation. Potential Trustees are given information about the Centre and the Trustee role.

Trustees are subject to enhanced Disclosure & Barring Service and Ofsted suitability checks. A range of training opportunities are available and Trustees are encouraged to attend these.

Training offered includes Understanding the Roles and Responsibilities of Trustees, Paediatric First Aid and Safeguarding Children.

Organisational structure

Easton Community Children’s Centre has a Management Committee of not less than three members who meet at least six times a year and are responsible for the strategic direction and policy of the charity. At present the Committee has six members, all of whom are parents who have used or currently use the services provided by the Centre.

A scheme of delegation is in place and day to day responsibility for the provision of the services rest with the General Manager supported by a Practice Manager.

The General Manager is responsible for ensuring that

5

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021 (continued)

The General Manager also has responsibility for the day to day operational management of the Centre, including ensuring that Health and Safety standards are met.

Related parties

In so far as it is complimentary to the charity’s objects, the charity is guided by both local and national policy. The local authority has responsibility for implementing national objectives and the charity has established close working relationships with Early Years and Childcare Service within Bristol City Council which support the delivery of the charity’s aims within the broader aims for development in this area of work. The charity is funded by the Local Authority to deliver some services through a Service Level Agreement. In additional to regular reviews of the work completed under the Service Level Agreements, Bristol City Council assesses the Centre each term against its own Quality Improvement Framework.

The organisation has established partnership links with a number of local organisations with complimentary aims and objectives and accesses the support of both national and local umbrella organisations including The National Council for Voluntary Organisations, Bristol Association for Neighbourhood Daycare (BAND) and VOSCUR.

The Centre is OFSTED approved and registered with Bristol City Council to provide free nursery education for two, three and four-year olds. Centre staff work closely with other organisations and professionals (for example, health visitors, educational psychologists and speech and language therapists) to establish effective partnerships which support the fulfilment of the charitable aims in providing the most relevant support for children and families. They also support community focused childcare developments both locally and nationally.

6

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021 (continued)

GENERAL INFORMATION
Company number 3287888
Charity number 1059859
Trustees Rosalind Wild (Chair)
Serena Drysdale
John Rossiter
Katrina Drovandi
Rachel Hall
Emma Cook_(resigned_ 17 October 2020)
Shankaron Nur
Elwynne Green_(appointed 16 March 2021)_
Principal staff James Rideout General Manager
Lucy Jefferies Practice Manager (Maternity Leave)
Isabel Ruddick Acting Practice Manager
Registered office and Easton Community Children’s Centre
operational address Russell Town Avenue
Bristol
BS5 9JF
Bankers Unity Trust Bank Plc
Nine Brindley Place
4 Oozells Square
Birmingham
B1 2HB
Independent Examiner Burnside Chartered Accountants
61 Queen Square
Bristol
BS1 4JZ

7

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021 (continued)

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The charity trustees (who are also the directors of Easton Community Children’s Centre Limited for the purposes of company law) 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).

Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing the financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.

THE TRUSTEES

The trustees, who are also directors under company law, who served during the year and up to the date of this report are listed on page 6.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2021 was 7. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

8

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021 (continued)

Independent Examiner

In accordance with company law, as the charity’s Trustees, we certify that:

Approved by the Trustee Board on ……………………… and signed on its behalf by:

……………………………… Rosalind Wild (Chair of Trustees)

Date ………………………………

9

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021, which are set out on pages 11 to 23.

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 the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of the 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:

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.

Name: Mark Pooley Relevant professional qualification or body: ICAEW Address: Burnside Chartered Accountants, 61 Queen Square, Bristol BS1 4JZ Date:

10

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |INCOME AND EXPENDITURE|Unrestricted|Restricted Total funds Total funds| |Funds|Funds|2021|2020| |Note|£|£|£|£| |INCOME| |Income from| |Charitable activities:| |Nursery fees and subsidies|3|707,875|118,883|826,758|776,430| |Other grants|13,871|9,500|23,371|33,165| |Investment income|65|-|65|681| |Other income|733|-|733|24| |__|_||| |TOTAL INCOME|722,544|128,383|850,927|810,300| ||||| |EXPENDITURE ON:| |Charitable activities:| |Provision of nursery care and| |education|4|675,809|141,418|817,227|870,669| ||||| |TOTAL EXPENDITURE|675,809|141,418|817,227|870,669| ||||| |Net income/(expenditure) and| |net movement in funds for the year|46,735|(13,035)|33,700|(60,369)| |Reconciliation of funds| |Total funds brought forward|184,787|407,908|592,695|653,064| ||||| |Total funds carried forward|231,522|394,873|626,395|592,695| ||||___|

----- End of picture text -----

The notes on pages 15 to 23 form part of these accounts.

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

11

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

BALANCE SHEET AT 31 MARCH 2021

2021 2020
Note £ £
FIXED ASSETS
Tangible assets 8 459,032 471,539
CURRENT ASSETS
Debtors 9 18,476 23,516
Cash at bank and in hand 189,275 162,573
_____ _____
207,751 186,089
CREDITORS: Amounts falling due within one year 10 (40,388) (64,933)
_____ _____
NET CURRENT ASSETS 167,363 121,156
_____ _____
NET ASSETS 626,395 592,695
_____ _____
THE FUNDS OF THE CHARITY:
Restricted 11, 12 394,873 407,908
Unrestricted 11, 12 231,522 184,787
______ ______
TOTAL CHARITY FUNDS 11, 12 626,395 592,695
______ ______

The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.

12

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

BALANCE SHEET AT 31 MARCH 2021 (continued)

The directors acknowledge their responsibilities for:

These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

These financial statements were approved by the directors and authorised for issue on ........................, and are signed on their behalf by:

…………………………………………… Rosalind Wild (Trustee)

The notes on pages 15 to 23 form part of these accounts.

Company registration number: 3287888

13

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021

Total funds Total funds
2021 2020
£ £
Cash used in operating activities 38,260 (11,438)
Cash flows from investing activities:
Purchase of fixed assets (11,622) (13,257)
Interest received 65 681
______ ______
Increase/(decrease) in cash & cash equivalents 26,703
(24,014)
______ ______
Cash & cash equivalents at beginning of year 162,573
186,587
______ ______
Cash & cash equivalents at end of year 189,276 162,573
______ ______
Reconciliation of net income/(expenditure) to net cash flow from operating activities
Net income/(expenditure) for the reporting period 33,700 (60,369)
(as per the statement of financial activities)
Adjustments for:
Depreciation charges 24,129 24,181
Interest received (65) (681)
(Increase)/decrease in debtors 5,041 4,676
Increase/(decrease) in creditors (24,545) 20,755
______ ______
38,260
(11,438)
______ ______

14

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

  1. ACCOUNTING POLICIES

  2. a) The financial statements have been prepared in accordance with 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) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Easton Community Children’s Centre Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

At 31 March 2021, the charity had total funds of £626,395 (2020: £592,695). Restricted funds amounted to £394,873 (2020: £407,908). The free reserves of the charity, being unrestricted general reserves less fixed assets held in general reserves, totalled £157,009 (2020: £118,344). The target for free reserves is to hold 3 months of running costs, which currently equates to around £180,000.

COVID-19 did cause the charity operational difficulties in 2020/21, but the charity adapted the way that it operated to ensure the continuation of its children’s nursery education in a safe environment for them and our staff. Our main funder, Bristol City Council, continues to support us.

In September 2021 the charity returned to “business as usual” in its provision of nursery education. A breakeven budget has been set for 2021/22.

The trustees therefore have a reasonable expectation that the Centre will be in operation 12 months from the date of approval of these accounts and that the charity remains a going concern. The accounts have therefore been prepared on a going concern basis.

15

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)

  1. ACCOUNTING POLICIES (continued)

  2. c) Income

Income is recognised when the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.

Income received by way of donations and gifts is included in full in the statement of financial activities when receivable.

Revenue grants are credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless they relate to a specific future period, in which case they are deferred.

Grants for the purchase of fixed assets are credited to restricted incoming resources when receivable. Depreciation of fixed assets purchased with such grants is charged against the restricted fund.

Nursery fee income and subsidies are included in the statement of financial activities when they are earned in respect of the children’s attendance at the nursery.

Interest is included when receivable by the charity.

Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered.

Tangible fixed assets are capitalised at cost. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

(50 years) Fabric of leasehold property: 10% straight line Fixtures, fittings & equipment: 25% reducing balance

16

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)

  1. ACCOUNTING POLICIES (continued)

  2. g) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

17

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)

2. PRIOR PERIOD COMPARATIVES

Unrestricted Restricted
 Total funds
Funds Funds 2020
£ £ £
INCOME
Income from
Charitable activities:
Nursery fees and subsidies 776,430 - 776,430
Other grants 27,750 5,415 33,165
Investment income 681 - 681
Other income 24 - 24
______ ______ __
TOTAL INCOME 804,885 5,415 810,300
______ ______ ______
EXPENDITURE ON:
Charitable activities:
Provision of nursery care and education 847,539 23,130 870,669
______ ______ ______
TOTAL EXPENDITURE 847,539 23,130 870,669
______ ______ ______
Net income/(expenditure) and
net movement in funds for the year (42,654) (17,715) (60,369)
______ ______ ______
3. NURSERY FEES AND SUBSIDIES
2021 2020
£ £
Parent nursery fees 357,223 475,073
3 and 4 year olds funding 286,991 249,085
2 year olds enhanced provision 29,277 35,427
Registration fees 1,700 1,400
Special educational needs funding 7,684 15,445
Job Retention Scheme grants 118,883 -
Covid-19 relief grants 25,000 -
_____ _____
826,758 776,430
_____ _____

18

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)

4. EXPENDITURE – PROVISION OF NURSERY CARE AND EDUCATION

Nursery Total Total
costs 2021 2020
£ £ £
Staff salaries (note 6) 672,353 672,353 648,168
Other staff costs 636 636 2,357
Agency staff cover 9,021 9,021 47,544
Catering 26,524 26,524 39,242
Activity costs 22,766 22,766 29,101
Premises costs 31,143 31,143 36,520
Office costs 13,251 13,251 18,019
Training 1,910 1,910 5,331
Bad debts (265) (265) 1,591
Depreciation 24,129 24,129 24,181
Audit and accountancy 13,254 13,254 12,850
Legal and professional
 2,505 2,505 5,765
_____ _____ _____
817,227 817,227 870,669
_____ _____ _____
5. NET INCOME/(EXPENDITURE) FOR THE YEAR 2021 2020
£ £
This is stated after charging:
Depreciation of owned assets 24,129 24,181
Accountant’s remuneration:
Independent examination 2,200 2,000
Accounting services 1,100 1,000
____ ____

19

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)

6. STAFF COSTS

STAFF COSTS
2021 2020
£ £
Wages and salaries 598,461 579,460
Social security costs 38,116 35,804
Pension contributions 35,776 32,904
_____ _____
672,353 648,168
_____ _____

No employee earned £60,000 p.a. or more (2020: £nil).

No trustee received any remuneration from the charity during the year (2020: £nil) neither were they reimbursed expenses during the year (2020: £nil). There were no related party transactions with trustees during the year.

The average number of employees during the year was 42 (2020: 44).

The key management personnel of the charity comprise the trustees, the General Manager, the Practice Manager, the Office Manager, the Outreach Programme Manager, a Senior Room Leader and 6 Room Leaders. The total employee benefits of the key management personnel of the charity were £247,206 (2020: £217,729).

7. TAXATION

The charity is exempt from corporation tax on its charitable activities.

20

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)

8. TANGIBLE ASSETS

Leasehold
property
£
COST
At 1 April 2020
130,000
Additions
-
Disposals
-
__
At 31 March 2021
130,000
_
DEPRECIATION
At 1 April 2020
57,200
Charge for the year
2,600
Depreciation on disposals
-

At 31 March 2021
59,800

NET BOOK VALUE
At 31 March 2021
70,200

At 31 March 2020
72,800
___
9.
DEBTORS
Trade debtors
Provisions for doubtful debts
Prepayments and other debtors		 Leasehold
improvements
£
550,021
8,241
-
__
558,262
_
162,107
17,977
-

180,084

378,178

387,914
___		 Fixtures,
fittings &
equipment
Total
£
£
101,643
781,664
3,381
11,622
-
-
__
_
105,024
793,286


90,818
310,125
3,552
24,129
-
-


94,370
334,254


10,654
459,032


10,825
471,539


2021
2020
£
£
17,363
27,254
(6,849)
(9,547)
7,962
5,809

_
18,476
23,516

____

21

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)

10. CREDITORS 2021 2020
£ £
Amounts falling due within one year:
Payments on account 10,201 10,927
Trade creditors 3,886 6,377
Accruals 8,853 6,803
Deferred income - 23,817
Other taxation and social security 11,394 12,501
Other creditors 6,054 4,508
____ ____
40,388 64,933
____ ____
11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Restricted General
funds funds Total
£ £ £
Tangible fixed assets 384,519 74,513 459,032
Cash at bank and in hand 10,354 178,921 189,275
Other net current assets/(liabilities) - (21,912) (21,912)
______ ______ ______
Net assets at the end of the year 394,873 231,522 626,395
______ ______ ______

22

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)

12. MOVEMENTS IN FUNDS

At 1
April
2020
Restricted funds
Premises reserve – original building
86,591
Buildings and gardens fund: extensions 318,505
Community allotment fund
2,812
Job Retention Scheme grants
-
John James Foundation
-
Bristol City Council Originators Funding
-
__
Total restricted funds
407,908
_
Unrestricted funds
General funds
184,787

Total funds
592,695
___		 Incoming
Resources
£
-
-
-
118,883
5,000
4,500
__
128,383
_
722,544

850,927
___		 At 31
Resources
March
Expended
2021
£
£
(2,600)
83,991
(17,977)
300,528
(1,958)
854
(118,883)
-
-
5,000
-
4,500
__
_
(141,418)
394,873


(675,809)
231,522


(817,227)
626,395

___

13. RELATED PARTY TRANSACTIONS

There are no related party transactions that require disclosure in the accounts.

23

The following page does not form part of the statutory accounts

EASTON COMMUNITY CHILDREN’S CENTRE LIMITED (LIMITED BY GUARANTEE)

INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2021
2021 2020
£ £
INCOME
Nursery fees and subsidies 826,758 776,430
Other grants 23,371 33,165
Interest receivable 65 681
Sundry income 733 24
_____ _____
Total income for year 850,927 810,300
_____ _____
2021 2020
Total Total
£ £
EXPENDITURE
Staff wages 598,460 579,460
Employers national insurance 38,116 35,804
Pension contributions 35,776 32,904
Other staff costs 636 2,357
Agency staff cover 9,021 47,544
Training costs 1,910 5,331
Activities and nursery sundries 22,766 29,101
Catering 26,524 39,242
Light and heat 8,159 8,419
Telephone 2,310 2,643
Printing, postage, stationery 6,111 6,836
Rates, including water 2,080 4,785
Repairs and maintenance 8,130 12,759
Cleaning and waste disposal 10,498 8,068
Insurance 2,519 2,492
Advertising and PR 350 455
Computer costs 2,245 3,330
Travel and subsistence 64 430
UK entertainment (200) 1,983
Legal and professional 2,505 5,765
Accountancy fees and book-keeping 13,254 12,850
Bad debts (265) 1,591
Subscriptions 805 812
Bank charges and interest payable 1,324 1,527
Depreciation 24,129 24,181
_____ _____
Expenditure for year 817,227 870,669
_____ _____
NET INCOME/(EXPENDITURE) FOR THE YEAR 33,700 (60,369)
_____ _____

24