REGISTERED COMPANY NUMBER: 03277750 (England and Wales) REGISTERED CHARITY NUMBER: 1061942
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 March 2024
for
Keighley Kiddicare Ltd
Stirk Lambert & Co Chartered Accountants Russell Chambers 61a North Street Keighley West Yorkshire BD21 3DS
Keighley Kiddicare Ltd
Contents of the Financial Statements for the Year Ended 31 March 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 14 |
| Detailed Statement of Financial Activities | 15 |
Keighley Kiddicare Ltd (Registered number: 03277750)
Report of the Trustees for the Year Ended 31 March 2024
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 2024. 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 main objective is to provide childcare for families in the Keighley area, particularly children from lone parent families, children from disadvantaged areas and children with disabilities.
Significant activities
The main activities are:- nursery day-care for children aged 0 to 4 at our day nursery in the Highfield Community Centre in Keighley; before and after school care for children aged 3 to 12 at St. Joseph's Primary School. and school holiday playschemes are held at the nursery for children up to 11 years of age.
Public benefit
The charity's public benefit is providing facilities for the daily care, recreation and education of children who are below compulsory school age or who are of compulsory school age during out of school hours and holidays to children in Keighley and the surrounding areas.
The Trustees are aware of the Charity Commission guidance on public benefit and are satisfied that the activities of the charity comply with public benefit requirements.
Complaints
The Trustees received no reported complaints in 2023/24.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Once again we have experienced a difficult year with a high staff turnover. rise in minimum wage and ever increasing costs of fuel and food. There is a shortfall of up to 50% on the hourly cost of a nursery place against the free entitlement funding from the local authority. As such we have faced yet another year of substantial losses. In Autumn 2024 the rate of funding will rise, and the roll out of funding for children under two will begin, this should have a more positive impact on our finances. The senior staff team has remained consistent through the year and work closely with the trustees to take one day at a time, striving to provide quality childcare and education. This year the team have explored the feasibility of grants from charitable trusts, however we really need revenue funding and this is impossible to find as the local authority are seen to be funding us. There has been the continuous juggling of staff rations and costs, the staff team has been reduced to a minimum to meet the current ratios and is reviewed every term.
Children who attended our settings were from a variety of backgrounds - White British, Asian (mainly Pakistani), Eastern European (mainly Slovakian Roma or Polish), African and mixed race. We have had a number of children with additional needs, mostly on the autistic spectrum. We continue to work closely with outside agencies to meet the needs of these children.
FINANCIAL REVIEW
Financial position
During the year there was a deficit of £46,061, an increase on the deficit of £38,979 in 2022/23.
The current year deficit includes some exceptional one-off maintenance items to ensure the nursery and playscheme meet the standards required for the upcoming Ofsted inspection it therefore does not represent the underlying performance of the charity.
To reduce the deficit management are seeking alternative sources of funding and identifying opportunities to create efficiencies and minimise operating costs.
To manage performance and cashflow the trustees receive monthly management accounts and monitor income and expenditure against cashflow forecasts.
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Keighley Kiddicare Ltd (Registered number: 03277750)
Report of the Trustees for the Year Ended 31 March 2024
FINANCIAL REVIEW
Principal funding sources
Parental fees and Early Education funding are the principal funding sources. These 2 sources of funding made up over 90% of our total income. The balance came mainly from Inclusion funding and fundraising.
Investment policy and objectives
Following the sale of the Barlow Road property it was decided to invest £110,000 of the proceeds in a deposit account to provide longer term financial security.
Reserves policy
The Trustees feel that it is reasonable that unrestricted reserves equivalent to 4 months expenditure (around £115,000) are held in order to protect the organisation against the uncertainties of the trading and funding climate.
Going concern
The trustees have reviewed the gong concern status of the charity and concluded that the charity has sufficient reserves to continue operating for the foreseeable future.
FUTURE DEVELOPMENTS
Carol Dlambulo remains company secretary and supported by the trustees she continues to lead the staff team through a period of recovery As she reaches retirement age in less than three years, she has begun the process of training and coaching the senior staff team to manage the organisation on a daily basis. The aim is to make the transition process in 2026 as smooth as possible.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Keighley Kiddicare Limited is a registered charity (No. 1061942) and a company limited by guarantee (No. 3277750). The company is governed by its Memorandum and Articles of Association.
Recruitment and appointment of new trustees
Under the requirements of the Memorandum and Articles of Association, Trustees are elected to serve for a period of three years, after which they must seek re-election at the next Annual General Meeting.
A quorate Trustees' meeting may co-opt new Trustees at any time. They must then seek election at the next Annual General meeting.
In order to retain the original ethos of the charity, the Trustees will endeavour to ensure that new members are recruited primarily from service users, as well as ensuring that relevant skills are represented, e.g. business, finance, childcare, voluntary sector.
Organisational structure
Keighley Kiddicare's Board of Trustees must consist, according to the Articles of Association, of at least 3 members with no maximum number. The Trustees consider that a Board of between 8 to 12 members is an optimum number. The Board meets 6 to 8 times a year.
Day to day responsibility for service delivery and financial management is delegated to the Nursery and Out of School Managers.
Induction and training of new trustees
New Trustees will be provided with information about the history, structure and governance of the organisation as well as its financial position and strategic priorities.
New Trustees will be referred to relevant training courses aimed at voluntary sector committee members.
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Keighley Kiddicare Ltd (Registered number: 03277750)
Report of the Trustees for the Year Ended 31 March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Related parties
Kiddicare's service delivery is consistent with the aims of the Early Years Foundation Stage, and is supported by Bradford Council.
On a local level, Kiddicare has strong links with local schools, colleges, Family Support workers and other professional agencies.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
03277750 (England and Wales)
Registered Charity number
1061942
Registered office
Highfield Community Centre Drewry Road Keighley West Yorkshire BD21 2QG
Trustees
P Greenwood Treasurer R Manley Chair S Widdop P Manley Vice Chair Ms A Whelan (appointed 6.6.24)
Company Secretary
C Dlambulo
Independent Examiner
Catherine Hill ACA CTA Stirk Lambert & Co Chartered Accountants Russell Chambers 61a North Street Keighley West Yorkshire BD21 3DS
Bank
Lloyds Bank Hustlergate Bradford BD1 1NT
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 15 October 2024 and signed on its behalf by:
P Greenwood - Trustee
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Independent Examiner's Report to the Trustees of Keighley Kiddicare Ltd (Registered number: 03277750)
Independent examiner's report to the trustees of Keighley Kiddicare Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
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 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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
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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
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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.
Catherine Hill ACA CTA
Stirk Lambert & Co Chartered Accountants Russell Chambers 61a North Street Keighley West Yorkshire BD21 3DS
15 October 2024
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Keighley Kiddicare Ltd
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Charitable activities 4 Charitable activities 250,595 Other trading activities 2 328 Investment income 3 1,175 Total 252,098 EXPENDITURE ON Charitable activities Charitable activities 251,730 Governance costs 46,417 Total 298,147 NET INCOME/(EXPENDITURE) (46,049) RECONCILIATION OF FUNDS Total funds brought forward 175,127 TOTAL FUNDS CARRIED FORWARD 129,078 |
Restricted funds £ - - - - 12 - 12 (12) 42 30 |
31.3.24 Total funds £ 250,595 328 1,175 252,098 251,742 46,417 298,159 (46,061) 175,169 129,108 |
31.3.23 Total funds £ 269,715 540 209 270,464 266,390 43,053 309,443 (38,979) 214,148 175,169 |
|---|---|---|---|
The notes form part of these financial statements
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Keighley Kiddicare Ltd (Registered number: 03277750)
Balance Sheet 31 March 2024
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 9 11,655 CURRENT ASSETS Debtors 10 15,897 Cash at bank and in hand 160,389 176,286 CREDITORS Amounts falling due within one year 11 (45,442) NET CURRENT ASSETS 130,844 TOTAL ASSETS LESS CURRENT LIABILITIES 142,499 CREDITORS Amounts falling due after more than one year 12 (13,421) NET ASSETS 129,078 FUNDS 15 Unrestricted funds: General fund Capital Grant Restricted funds TOTAL FUNDS |
Restricted funds £ 30 - - - - - 30 - 30 |
31.3.24 Total funds £ 11,685 15,897 160,389 176,286 (45,442) 130,844 142,529 (13,421) 129,108 126,989 2,089 129,078 30 129,108 |
31.3.23 Total funds £ 14,638 15,769 199,613 215,382 (39,152) 176,230 190,868 (15,699) 175,169 172,516 2,611 175,127 42 175,169 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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
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(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 notes form part of these financial statements
continued...
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Keighley Kiddicare Ltd (Registered number: 03277750)
Balance Sheet - continued 31 March 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 15 October 2024 and were signed on its behalf by:
P Greenwood - Trustee
R Manley - Trustee
The notes form part of these financial statements
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Keighley Kiddicare Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
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.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance Motor vehicles - 20% on reducing balance Computer equipment - 20% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The company operates a defined contribution scheme for specific employees. The pension cost charge represents amounts paid during the year in respect of this scheme.
continued...
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Keighley Kiddicare Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
2. OTHER TRADING ACTIVITIES
| Fundraising events 3. INVESTMENT INCOME Deposit account interest 4. INCOME FROM CHARITABLE ACTIVITIES Activity Childcare fees Charitable activities Childcare fee bad debts Charitable activities Grants Charitable activities Grants received, included in the above, are as follows: Special Educational Needs - Aiming High Early Education Fund 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Other operating leases |
31.3.24 £ 328 31.3.24 £ 1,175 31.3.24 £ 143,575 (1,582) 108,602 250,595 31.3.24 £ - 108,602 108,602 31.3.24 £ 2,953 2,953 |
31.3.23 £ 540 31.3.23 £ 209 31.3.23 £ 152,856 2,778 114,081 269,715 31.3.23 £ 2,114 111,967 114,081 31.3.23 £ 3,661 2,905 |
|---|---|---|
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
continued...
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Keighley Kiddicare Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
7. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31.3.24 Direct charitable work 16 Administrative 2 18 No employees received emoluments in excess of £60,000. 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS FROM Charitable activities Charitable activities 269,715 - Other trading activities 540 - Investment income 209 - Total 270,464 - EXPENDITURE ON Charitable activities Charitable activities 266,380 10 Governance costs 43,053 - Total 309,433 10 NET INCOME/(EXPENDITURE) (38,969) (10) RECONCILIATION OF FUNDS Total funds brought forward 214,096 52 TOTAL FUNDS CARRIED FORWARD 175,127 42 |
31.3.23 21 2 23 Total funds £ 269,715 540 209 270,464 266,390 43,053 309,443 (38,979) 214,148 175,169 |
|---|---|
continued...
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Keighley Kiddicare Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
9. TANGIBLE FIXED ASSETS
| Plant and machinery £ COST At 1 April 2023 and 31 March 2024 61,355 DEPRECIATION At 1 April 2023 55,798 Charge for year 1,111 At 31 March 2024 56,909 NET BOOK VALUE At 31 March 2024 4,446 At 31 March 2023 5,557 10. DEBTORS Amounts falling due within one year: Trade debtors Prepayments and accrued income Amounts falling due after more than one year: Trade debtors Aggregate amounts |
Motor Computer vehicles equipment Totals £ £ £ 9,995 13,109 84,459 1,999 12,024 69,821 1,599 243 2,953 3,598 12,267 72,774 6,397 842 11,685 7,996 1,085 14,638 31.3.24 31.3.23 £ £ 10,131 10,777 2,178 2,087 12,309 12,864 3,588 2,905 15,897 15,769 |
|---|---|
Debtors due in more than one year represents fees due from ex customers who are continuing to repay their debts to Keighley Kiddicare Limited on a weekly or monthly basis over an extended period of time.
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 13) Trade creditors Social security and other taxes Accruals and deferred income |
31.3.24 31.3.23 £ £ 2,135 2,079 3,181 5,461 1,823 181 38,303 31,431 |
|---|---|---|
| 45,442 39,152 |
continued...
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Keighley Kiddicare Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| 31.3.24 £ Bank loans (see note 13) 13,421 13. LOANS An analysis of the maturity of loans is given below: 31.3.24 £ Amounts falling due within one year on demand: Bank loans 2,135 Amounts falling between one and two years: Bank loans - 1-2 years 2,189 Amounts falling due between two and five years: Bank loans - 2-5 years 6,905 Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 4,327 14. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows: 31.3.24 £ Within one year 130 Between one and five years - 130 15. MOVEMENT IN FUNDS Net movement At 1.4.23 in funds £ £ Unrestricted funds General fund 172,516 (45,527) Capital Grant 2,611 (522) 175,127 (46,049) Restricted funds Grants 42 (12) TOTAL FUNDS 175,169 (46,061) |
31.3.23 £ 15,699 31.3.23 £ 2,079 2,131 6,723 6,845 31.3.23 £ 1,565 130 1,695 At 31.3.24 £ 126,989 2,089 129,078 30 129,108 |
|---|---|
continued...
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Keighley Kiddicare Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
15. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 252,098 Capital Grant - 252,098 Restricted funds Grants - TOTAL FUNDS 252,098 Comparatives for movement in funds At 1.4.22 £ Unrestricted funds General fund 210,832 Capital Grant 3,264 214,096 Restricted funds Grants 52 TOTAL FUNDS 214,148 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 270,464 Capital Grant - 270,464 Restricted funds Grants - TOTAL FUNDS 270,464 |
Resources Movement expended in funds £ £ (297,625) (45,527) (522) (522) (298,147) (46,049) (12) (12) (298,159) (46,061) Net movement At in funds 31.3.23 £ £ (38,316) 172,516 (653) 2,611 (38,969) 175,127 (10) 42 (38,979) 175,169 Resources Movement expended in funds £ £ (308,780) (38,316) (653) (653) (309,433) (38,969) (10) (10) (309,443) (38,979) |
|---|---|
continued...
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Keighley Kiddicare Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
15. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Capital Grant Restricted funds Grants TOTAL FUNDS |
At 1.4.22 £ 210,832 3,264 214,096 52 214,148 |
Net movement in funds £ (83,843) (1,175) (85,018) (22) (85,040) |
At 31.3.24 £ 126,989 2,089 129,078 30 129,108 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Capital Grant Restricted funds Grants TOTAL FUNDS |
Incoming resources £ 522,562 - 522,562 - 522,562 |
Resources Movemen expended in funds £ £ (606,405) (83,843) (1,175) (1,175) (607,580) (85,018) (22) (22) (607,602) (85,040) |
|---|---|---|
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
17. TRUSTEES' INTEREST
There were no material trustees' interests to disclose during the year.
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Keighley Kiddicare Ltd
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
| 31.3.24 | 31.3.23 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Other trading activities | ||
| Fundraising events | 328 | 540 |
| Investment income | ||
| Deposit account interest | 1,175 | 209 |
| Charitable activities | ||
| Childcare fees | 143,575 | 152,856 |
| Childcare fee bad debts | (1,582) | 2,778 |
| Grants | 108,602 | 114,081 |
| 250,595 | 269,715 | |
| Total incoming resources | 252,098 | 270,464 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 245,583 | 247,337 |
| Pensions | 2,435 | 2,042 |
| Other operating leases | 2,953 | 2,905 |
| Rates and water | 9,546 | 7,164 |
| Insurance | 1,687 | 2,445 |
| Light and heat | - | 36 |
| Telephone | 4,557 | 3,476 |
| Postage and stationery | 507 | 1,311 |
| Advertising | 84 | 599 |
| Sundries | 1,221 | 1,385 |
| Minibus & travel expenses | 2,830 | 2,156 |
| Equipment and outings | 2,829 | 1,951 |
| Food & cleaning | 2,490 | 4,736 |
| Repairs and renewals | 9,474 | 14,832 |
| Accountancy | 5,098 | 4,923 |
| Training | 991 | 2,139 |
| Rent | 2,500 | 5,597 |
| Legal fees | - | 275 |
| Plant and machinery | 1,111 | 1,390 |
| Motor vehicles | 1,599 | 1,999 |
| Computer equipment | 244 | 271 |
| Bank loan interest | 420 | 474 |
| 298,159 | 309,443 | |
| Total resources expended | 298,159 | 309,443 |
| Net expenditure | (46,061) | (38,979) |
This page does not form part of the statutory financial statements
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