REGISTERED COMPANY NUMBER: 02696582 (England and Wales) REGISTERED CHARITY NUMBER: 1063372
Report of the Trustees and Unaudited Financial Statements for the Year Ended 5 April 2023
for
The Little Lot Limited
Susan Ellison 30 Whitchurch Close Padgate Warrington Cheshire WA1 4JZ
The Little Lot Limited
Contents of the Financial Statements for the Year Ended 5 April 2023
| 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 13 |
| Detailed Statement of Financial Activities | 14 |
The Little Lot Limited
Report of the Trustees for the Year Ended 5 April 2023
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 5 April 2023. 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 objectives of the charity are to:
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Provide quality pre-school education and care through its not-for-profit company the Little Lot Nursery
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Provide outdoor play equipment for use by the pupils of the Stockton Heath Community School 3. Provide to the pupils of Stockton Heath Community School free or subsidised places on extra curricular events and activities run by the Little Lot Nursery.
The Little Lot Nursery provides a fun, friendly and stimulating environment for children aged two to five, where the emphasis is on "learning through play". The children are valued individuals and are given a fulfilling and rewarding pre-school education that will provide a firm foundation for future growth and development. All the activities at Little Lot are organised to cover the initial achievements of the Early Learning Goals in accordance with the Foundation Stage. The nursery is registered with Ofsted Early Years to provide pre-school education and care for 32 children at each session and 24 children for lunch. In September 2001, the Little Lot re-registered with Ofsted to admit children at two years old.
Significant activities
The nursery has once again improved on its registrations: and the number of 2 year old places have increased considerably, making the nursery financially more secure - with some sessions already full.
FINANCIAL REVIEW
Principal funding sources
Little Lot's income is derived from fees, local authority Free Early Years Entitlement and fund-raising. Since the introduction of the Nursery Grant in 1997, the Little Lot nursery is registered under the scheme and is able to offer children Free Early Years Entitlement at the beginning of the term following their third birthday.
A child is entitled to a maximum of 570 hours over each 12 month period on a rolling process from when they first access their funding.
A minimum of 2.5 hours and a maximum of 10 hours can be claimed in any one day.
The maximum claim of 15 hours must be taken over no fewer than 2 days.
Little Lot nursery are now also able to offer a limited number of Free 2 Year old Nursery placements. The local authority use criteria to assess if a child is entitled to it. Little Lot implemented the 30 hour funding to all eligible parents from September 2017.
FUTURE PLANS
Looking forward to 2023-24 the numbers of children enrolled are average for a sustainable nursery.
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.
Page 1
The Little Lot Limited
Report of the Trustees for the Year Ended 5 April 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The voluntary structure of the company provides long term policy, strategic decisions and support for the nursery manager by offering a source of experience and expertise (eg finance, planning, personal, building and education). The trustees attend meetings on a quarterly basis with sub-groups for education, finance, building and Way Forward meeting as required. The Nursery Manager, Mrs Beverly Owen, is accountable to the trustees and, within the overall strategy set by the Trustees, is responsible, for the medium and day to day leadership and management of the business. This includes determining priorities, proposing and setting objectives, policy and implementation of staff development and support, establishing communications and using managerial skills to resolve conflict, solve problems and develop the teamwork ethos. The management team consists of qualified staff with early years' expertise, this includes senior staff with NVQ or NNEB qualifications and an administrator. With teamwork and essential support from nursery practitioners and the administrator, excellence in education and childcare is achieved to budget. The nursery manager has a delegated authority up to a limit of £500 on any single purchase. All staff hold paediatric first aid and are trained in the use of a defibrillator, which is shared with the school..
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
02696582 (England and Wales)
Registered Charity number
1063372
Registered office
West Avenue Stockton Heath Warrington WA4 6HX
Trustees
C P Haines Trustee A J Kellett Trustee M Kousoulou Trustee Mrs L B Owen Nursery Manager Mrs K Ragheb Trustee Mrs S L Scales Trustee P S Speed Trustee Mrs C L Wadsworth Trustee
Company Secretary
P S Speed
Page 2
The Little Lot Limited
Report of the Trustees for the Year Ended 5 April 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Susan Ellison 30 Whitchurch Close Padgate Warrington Cheshire WA1 4JZ Approved by order of the board of trustees on 20 November 2023 and signed on its behalf by:
C P Haines - Trustee
Page 3
Independent Examiner's Report to the Trustees of The Little Lot Limited
Independent examiner's report to the trustees of The Little Lot Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 5 April 2023.
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
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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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.
Susan Ellison
Susan Ellison 30 Whitchurch Close Padgate Warrington Cheshire WA1 4JZ
21 November 2023
Page 4
The Little Lot Limited
Statement of Financial Activities for the Year Ended 5 April 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Preschool HMRC JRS grant Investment income 2 Total EXPENDITURE ON Charitable activities Preschool NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
5/4/23 Unrestricted fund £ - 155,516 - 145 155,661 169,349 (13,688) 27,855 14,167 |
5/4/22 Total funds £ (1) 137,184 4,167 8 141,358 162,577 (21,219) 49,074 27,855 |
|---|---|---|
The notes form part of these financial statements
Page 5
The Little Lot Limited
Balance Sheet
5 April 2023
| Notes FIXED ASSETS Tangible assets 7 CURRENT ASSETS Cash at bank and in hand CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES PROVISIONS FOR LIABILITIES 9 NET ASSETS FUNDS 10 Unrestricted funds TOTAL FUNDS |
5/4/23 Unrestricted fund £ 2,804 81,789 (3,102) 78,687 81,491 (67,324) 14,167 14,167 14,167 |
5/4/22 Total funds £ 1,334 146,893 (3,083) 143,810 145,144 (117,289) 27,855 27,855 27,855 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(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
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continued...
The Little Lot Limited
Balance Sheet - continued
5 April 2023
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 20 November 2023 and were signed on its behalf by:
C P Haines - Trustee
The notes form part of these financial statements
Page 7
The Little Lot Limited
Notes to the Financial Statements for the Year Ended 5 April 2023
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 - 33% on cost
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.
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The Little Lot Limited
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
1. ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 5/4/23 | 5/4/22 | |
| £ | £ | |
| Interest receivable - trading | 145 | 8 |
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 5/4/23 | 5/4/22 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 1,471 | 878 |
| Hire of plant and machinery | 1,052 | 1,948 |
| Other operating leases | 8,375 | - |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2023 nor for the year ended 5 April 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2023 nor for the year ended 5 April 2022.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 5/4/23 | 5/4/22 | |
|---|---|---|
| Nursery staff | 7 | 7 |
No employees received emoluments in excess of £60,000.
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The Little Lot Limited
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | ||
|---|---|---|
| fund | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | (1) | |
| Charitable activities | ||
| Preschool | 137,184 | |
| HMRC JRS grant | 4,167 | |
| Investment income | 8 | |
| Total | 141,358 | |
| EXPENDITURE ON | ||
| Charitable activities | ||
| Preschool | 162,577 | |
| NET INCOME/(EXPENDITURE) | (21,219) | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 49,074 | |
| TOTAL FUNDS CARRIED | ||
| FORWARD | 27,855 | |
| 7. | TANGIBLE FIXED ASSETS | |
| Plant and | ||
| machinery | ||
| £ | ||
| COST | ||
| At 6 April 2022 | 27,889 | |
| Additions | 2,941 | |
| At 5 April 2023 | 30,830 | |
| DEPRECIATION | ||
| At 6 April 2022 | 26,555 | |
| Charge for year | 1,471 | |
| At 5 April 2023 | 28,026 | |
| NET BOOK VALUE | ||
| At 5 April 2023 | 2,804 | |
| At 5 April 2022 | 1,334 |
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The Little Lot Limited
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Social security and other taxes Pension Liability Net Pay Accruals and deferred income 9. PROVISIONS FOR LIABILITIES Provisions 10. MOVEMENT IN FUNDS At 6.4.22 £ Unrestricted funds General fund 27,855 TOTAL FUNDS 27,855 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 155,661 TOTAL FUNDS 155,661 |
5/4/23 £ 1,588 1,129 55 330 3,102 5/4/23 £ 67,324 Net movement in funds £ (13,688) (13,688) Resources expended £ (169,349) (169,349) |
5/4/22 £ 1,921 721 1 440 3,083 5/4/22 £ 117,289 At 5.4.23 £ 14,167 14,167 Movement in funds £ (13,688) (13,688) |
|---|---|---|
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The Little Lot Limited
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 6.4.21 in funds £ £ Unrestricted funds General fund 49,074 (21,219) TOTAL FUNDS 49,074 (21,219) Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 141,358 (162,577) TOTAL FUNDS 141,358 (162,577) |
At 5.4.22 £ 27,855 27,855 Movement in funds £ (21,219) (21,219) |
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| At 6.4.21 £ Unrestricted funds General fund 49,074 TOTAL FUNDS 49,074 A current year 12 months and prior year 12 months combined included in the above are as follows: Incoming resources £ Unrestricted funds General fund 297,019 TOTAL FUNDS 297,019 |
Net movement At in funds 5.4.23 £ £ (34,907) 14,167 (34,907) 14,167 net movement in fund Resources Movement expended in funds £ £ (331,926) (34,907) (331,926) (34,907) |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
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The Little Lot Limited
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2023.
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| The Little Lot Limited Detailed Statement of Financial Activities for the Year Ended 5 April 2023 INCOME AND ENDOWMENTS Donations and legacies Gifts Investment income Interest receivable - trading Charitable activities Nursery fee income Grants Total incoming resources EXPENDITURE Charitable activities Wages Social security Pensions Hire of plant and machinery Other operating leases Rates and water Insurance Printing and stationery Sundries Materials & resources Meals & snacks Staff training Computer software & maintenanc Trade subscriptions Accountancy fees Contingency provision Staff welfare Professional fees Plant and machinery Total resources expended Net expenditure |
5/4/23 £ - 145 60,135 95,381 155,516 155,661 123,519 4,209 1,918 1,052 8,375 1,050 1,208 1,757 215 6,014 10,595 208 4,050 947 1,299 - 885 577 1,471 169,349 169,349 (13,688) |
5/4/22 £ (1) 8 47,104 94,247 141,351 141,358 114,794 4,040 1,772 1,948 - 268 1,601 1,763 990 4,633 10,808 3,876 3,494 671 964 9,500 - 576 879 162,577 162,577 (21,219) |
|---|---|---|
This page does not form part of the statutory financial statements
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