SANDWELL & DISTIUCT WEST INDIAN COMMUNITY ASSOCIATION (A Company Limited by Guarantee) FINANCIAL STATEMENTS for the year to 31 March 2025 Company Number 3(J09502 Charlty Number 1072S23
SANDWELL & DISTRICT WEST tNDIAN COMMUNITY ASSOCIATION (A Company Lthted by Guarantee) INDEX 31 March 2025 Page INFORMATION DIRECTORS REPORT 2to4 STATEMENT OF FINANCIAL ACTlVtTIES BALANCE SHEET NOTES TO THE FINANCIAL STATEMEf+rrs 7t012 INDEPEND EXAMINERS REPORT 13
SANDWELL & DISTRI WEST INDIAN COMMUNfrY ASSOCIATION (A Company Limited by Guarantee) INFORMATION as at 31 March 2025 DtRECTORS: Mr N Davis ( Treasurer ) Mr Cecil Richards Mr Mark Cameron NURSERY MANAGER ADMtN AND OFFICE MANAGER Claire Badger VioIet Coley REGISTERED OFFICE: 69 Beeches Road West Bromwich West Midlands B70 6HQ COMPANY REGISTERED NUMBER: 3609502 CHARITY REGISTERED NUMBER: 1072523 BANKERS: Lloyds Bank plc University of Birmingham Branch Arial Hou 2138 Coventy Rd Birniingham B26 3JW SOLICITORS: Pearce I£gal 2 The Square Solihull West Midlands B913SQ INDEPENDENT EXAMtNER G.P. Brookes FCA Bsc Chartered Accountant 130 Wombourne Park Wombourne S Staffs WV5 OLY Page I
SANDWELL & DISTIUCT WEST INDIAN COMMUNITY ASSOCIATION (A Company Llmlted by Guarantee) 31 March 2025 DtRECTORS REPORT The Directors present their report and the financial ststements for the year ended 31 March 2025 Structure Governance and Management Sandwell & District West Indian Community Associations a charitsble company limited by guarantee without having a Share Capital. The board of directors usually meet quarterly. are responsible for the ultimate strategic decisions having regard to advice from the Nursery Staff. Trugteemir¢ctor Inductlon and tralnlng New TrusteelDirectors are chosen by invitstion in order that the clwity may ILave ryresentation from a wide range of agencies. We match our skill requirements with knowl¢dge and experi¢nce and wherc there are gaps we offer appropriate training. There are no specific policies and procedures for induction / training of directors. However they are inducted according to individual requirements. Copies of the Compangs Memorandum and Articles publicatio$ ar¢ suppIAed, along with the charitys polices and procedures and copies of recent board meeting minute8 and the latest Ofsted Report. Individual TnLStees rol&s and responsibilities arc n¢gotiated with all thc truste¢s so that their roles complement each other. ObJeetlve8 And Actlvltles The principal actlvity of the Company remains to be the advancement of the Community Provision in the hTea of Sandwell with tbe provision of facilities for the daily care, recreation and education of children under th¢ age of 8 whose parents or guardians are resident in d around the Sandwell area. Achlevementj and PerfornCe During the year the nursery the staff and manaBetnenl team worked together to ensure that SADWICA maintained a consistently high standard of Care that goes above and beyond the minimum requirements of the EYFS. TILis resulted in another 'Good' Rating from Ofsted when the nursery was inspected in August 2025. o Continued to be an approved Sandwell HAF (Holiday Activities & Food) provider. This fimding enabled us to deliver free holiday playscheme places to 23 childr¢n per day (aged 4-7yrs) over the main h0o1 holidays. Plans are still in place ¢0 extend this free provision to cover the 3 half term holidays. Our Atmual Op¢n Day was held in August 2024 and resulted in 10 new startm in September. o Ax)nual Sponsored Walk bcld at Dudley 7A)0 & Casde raised over £250 o Maintained statTing team and trained 2 childcare apprentices. o As at 30103125 occupancy levels were at 610/0 and increasing steadily. o Maintained our 515 Rating from Environmental Health (March 2024) The nursery is cOMprehe81Ve1Y resourced with the most up to date educational r&80urces and staff have received the most up to date training provided by the local Early Years & Childcare UniL covering topics sucb as Safeguarding. Paediatric First Aid, FGM and Food Hygiene. All Staff re Level 3 qualified or highcr. Screening has identified an increase in children requiring speech and language support. The Wellcom¢ Screening helps us to screen their speech and language skills and operates on a trdffic light system. Green - No Interventioo Amber- provide extra support. Red= consider referral to Speech & Language Therapy. 800/0 of children identified as needing additional support made improvement and moved from either Red to Amber or Amber to Green. Children with more Complex medical or behavioural needs can get support through the Early Intervention Grant that can provide up to 15 hrs a week of I to I support. 2 Ghildrcn ar¢ Gurrcntly iti rcG¢ipt of the Grant Page 2
SANDWELL & DISTRICT WEST INDIAN Com[UNf ASSOCIATION (A Company Limited by Guarantee) 31 Mareh 2025 DIRECTORS REPORT Future PlaD$ The organisation rernains committed to ongoing restrncturing efforts aimed at ensuring a more effective ehildcare provision. As a result of these initiatives. the nursery successfully maintain¢d its Ofsted rdting of GOOD following the inspection in August 2025. Retaining this rating is particularly important for Sadwic iven the Incr4]ng competition within the local childcarc tOr. We remained committed to firfer strengthening of the Mana8em¢nt Committee which has tsken place through the appointment of a new members and Parent Representatives. tn addition, we continued to submit monitoring reports to Sandwell Council as requlred by our Service Level Aernent (SLA). Funding from S8ndwell Council ended in Mah 2025. so our primary objedive is to wure alternative sources to bridge the funding gap. Th¢ management team is artively identifying and evaluating potential fijnders to ensure aligDJnent with their Criteria. and fimding applications are being submitted regularly, Efforts are also underway to enhance our online presen¢¢ and make best use of social media to promote our comprehensive range of childcare services. Given the 8u¢cess of our Holiday Activities & Food (HAF) programme, we are now seeking funding to extend this provision to cover the three half-terni holidays. We remain committed to making tnaximum use of the building and are looking at ways of providing complementary servi5 to parents during weekends such as online training, walking groups, coffee mOrningwarnI spaces, etc. Finally, with the dUal extension of free childcare entitlements for working Paren we are optimistic that we will attract sufficient enrolment to enable the nursery to become self-financing-fulfilling the organisation's long-standin8 aim. Slgnlflcant ¢ontrlbutlons of volunteers Our volunteer base. is flourishin8 and local people are reaping the benefits of in-house training. We are Seeing the benefits of spending more time involving volunteers at a committed level. Volunteers gained valuable experience in the areas of rhildcare. food preparation. Business Admin and maintenance. Being able to provide valuable experience to volunteers not just in the field of child¢are is something we hope to continue at this level. We hav¢ trained 2 apprentices and employed l on a pernanent basis once they completed their placement. We have also worked closely with local school$ and colleges to provide 15 students with both short and long term work placements for those interested In childcare as a career. FIDaDclal Revlew This annual review compares with a previous 6 months period due to the reversion to the forni¢r March year end accounting date . this is perniitted within the Companies Act. Very careful fmancial management has resulted in a useful surylus of £14,021 (Cp £3.312 surplus) for the previous 6 months. With increased take up of nursery places resulting in additional fee income a working surplus was achieved enabling the charity to complete the HMRC PAYE underpayments programme due to recent loss making periods build up. The early years support prowrne enables management to anticipate better the levels of income and therefore staff retention and related costs required, however this has only just Started to translate into net profitability. It is now hoped that the results via early years fimding levels. despite the cessation of the Local Authority statutory grants. wont set the company back. It is appears that the vital manageable requirement of full cost recovery basis for the day to day costs h&s been achieved this time after many years enabling th¢ tThstees and stsff team to keep thi3 community provision in ple. However the Directors. who are also the TCes. plus management team. deterniin¢d effort is still needed to continue overall going concern and solvency by seeking additional external income to supplement this finely financial balanced service provision given the required and increasing regulatory demands, its staffing costs . dIrt costs and ov¢rheads to ensure the medium and long tenn future of this absolutely invaluable local communty facility. Dirtttors The Directors set out on page I have held olTi¢e for the whole of the 12 months to 31 March 2025 to the date of th.is report unless otherwise stated. Page 3
SANDWELL & DISTRICT WEST INDIAN COMMUNITY ASSOCIATION (A Company Llmited by Guarantee) 31 March 2025 DIRECTORS REPORT (continued) Reserves Policy Currcntly the CoMpanS reserves represent restricted capital fimds received from various funders in previous years. Ideally the directors consider the following to be a basis for a cash backed designated reserve of £20,000 that shoutd be set on one side for a possible winding up contingency ful. Costs include senior staff r&lundancy (estimated at 3 months) £7.000. non set]ior staff redundancy (I month) £14,000, overheads {approximately I month) £5,000. Sadwica has not reached a trading or grant negotiating position to be able to build in a sufficient level of surplus within its income stream and to achieve this goal. Risk Management is an on going matter reassessed at trustees meetings. It is considered that the main risL8 are related to current local market conditions and the resulting reduced occupancy levels together with the general shortfall of grants to underpin a community provision like this in an economically deprived area. Dlrectors Responsibilities Company Law required the Directors to prepare fuwicial statements for each financial period which give a true and fair view of the state of the Company as at the end of the financial period and of th¢ income and expenditure of the Company for the year ended on that date. In preparing those fLnancial statements, suitabl¢ accounting policie$ have been used, observed the methods and principles within the Charities SORP 2019 (FRS 102) and to the best of the Directors knowledge and bclief, by reference to reasonable and prudent judgments and estimates and appli consistently. The Directors are also required to indicate where the fu]ancial statements are prepared on the basis that the Company is a going concern . The Directors are responsible for ensuring that arrangements are made for keeping proper books of account with respect to the Companvs transactions and its assets and liabilities and for maintaining a satisfactory system of control over the Company's books of account and trarL8actions. The Directors are also responsible for ensuring that arrangements are made to safeguard the assets of the Company and hence for taking reasonable stq)s for the prevention and detection of fraud and other irregularities. Approved by the Directors on d/fr........i.1- 2025 and sign its behalf b Director ( PRtNT NAME)...................... Page 4
SANDWELL & DISTRICT WEST INDIAN COMMUNITY ASSOCIATION (A Company Llmlted by Guarantee) Statement of Financial Activities ( illcludes summary of income and expenditure) 31 March 2025 Unrestrlcted Restricted Funds Funds 2025 2025 Total Funds 2025 Total Funds 2024 Notes l Year l Year l Year 6 Months Income Charitable Activities Community Day Nursery L(Kal Authority SLA Nursery f¢es Holiday and events funding Early tntervention grant Donations 27,135 202,146 15,669 10,800 3,085 258,835 27,135 202,146 15,969 10,800 6,085 262,135 18,090 89.399 3,393 3,361 3,307 117,550 300 3,000 3,300 Investment Income BaT Interest 14 Total Income 258,846 3,300 262,146 117,564 Expenditure Charitable Activities Community Day Nursery 244,825 3,300 248,125 114,252 Total Expenditure 244,825 3,300 248,125 114,252 Net Income 14,021 14,021 3,312 Reeonclliation of funds Total funds brought forward (8,903) 112,996 104,093 100,781 Total funds carri¢d forward 5,118 112.996 118,114 104,093 This clwitable compangs income and expenditure all relate to contsnuiJ]g operations. Page 5
SANDWELL & DISTRICT WEST INDIAN commuNy (A Comp4ny LInted by Guvantee) nullther 3609502 BALANCE SHEET AS AT 31 March 2025 6 llY)nU 2024 No 2025 FIXED ASSETS Tallle A88d8 114,877 115,347 114,877 115.347 CURREwf ASSETS Ddjtors Bank & Cash Total 5,972 3,274 9,246 141 3.385 6,9 14,639 Withia One y NET CURRENf ASSETS 3,237 (11,254) NET ASSETS 118,114 104,093 Fundi ReBtrlctsd Funds Capital fillLd8 11 112,996 112,996 Unre8trfcted Fund• 11 5.118 (8,903) TOTAL 118,114 104,093 The cryy was entitlal to aKatyAon from audit utxler 8477 of & C(Mw8nie8 A(# 2(X)6 relating to small conpanic8. 476 of the Conwanies Act 26. These aLTntS have been preparal in accord with the provisions applicable to 6nJall (mwanics subje£t to the small Coupani ree atsd in acrda with FRS102 azxl Charitia SORP 2019. Tlt Sigtied and val on the b&alf of the B(wd on 2025 ByName.. Pagc 6
SANDWELL & DISTIUCT WEST INDIAN cOMIUNITy ASSOCIATION (A Company Lited by Guarantee) Notes to the Accounts 12 months to 31 March 2025 (l) Accounting Policies a) Basis of accounting The charity constitutes a public benefit entity as defined by FRS102. The fllknqncial statements have been prepared in accordance with Accounting and Reporting by Clwities: Statement of Recommended Practice (SORP) applicabl¢ to cl]aritics prcparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) second edition published October 2019, the Charities Act 2011 the Companies Act 2006 and UK Generdlly Accepted Practice. The fmancial statements haTr"e been prepared on a going concern basis under the historical cost convention modified to include certain items at fair value. The fmancial statements are prepared in sterling which is hc functional currency of the charity b) Preparation of the accounts OD a going coneern basis Based on the anticipated Government early years programme the directors consider that the company is still a going concern. c) Income recognitlon policies Iter]s of income are reCols¢d and included in the accounts when all of the following criteria are met: the charity has ¢ntitlement to the funds. any perforn]ance conditions attached to the items of income have been met or are fully within the control of th¢ charity; there is sufficient certainty that receipt of the income is considered probable; and the amount can be measured reliably, d) Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measur¢d reliably by the charity. this is nonnally upon notification of the interest paid or payable by the baDk. (e) Expendlture and Liabilitles Liablllty recognition Liabilities are reeognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. Governance costs Include costs of the preparation and examination of ststutory accounts, any costs of trustec meetings and cost of any legal advice to trustees on governance or constitutional matters. Support Co$t$ Support ¢osts include central functions and have been allocated to activity cost categories on a basi$ consistent with the use of resources. page 7
SANDWELL & DISTRICT WEST INDIAN COMMUNrrY ASSOCIATION (A Company Llmited by Guarantee) Notes to the accounts 31 Marclx 2025 (l) Accountlng Policies ( contd) g) Fund accounting Unrestricted funds are available to spend on activities that further any of the pUoseS of the charity. Designated fiLnds are unrestricted funds of the charity which the directors have decided at their discretion to set &side to use for a specific purpose. Rastricted fimds are donations wbich the donor has specified are to be solely used for particular areas of the c]wity's work h) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constnictive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. brecov¢rable VAT is Charged as a cost against the activity for which the expcnditure was incurred. i) Allocatlon of support costs All support costs have been divided between direct charitable expenditure and other expenditure. Within these there is a further analysis of fiujctional support, fundraising, publicity and governance costs. The costs incurred by any particular activity (project. team or administrative department) have been allocated according to the nature, charitable or otherwise. of that activity. J) Governance Costs These include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. k) Taugible Fixed Assets Individual fixed assets costing £1,000 or more are capitalised at cost and are deprLated over their estimated useful economie lives on a straight line basis as follows.. Equipment, fixtures and fittings Depreciation rate 200/0 per annum Straight line Nursery Refurbishment Depreciation rate IOQ/o per annum Straight line l) Credltors alld provlsions Creditors and provisions are recognised at their settlement amount 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 th¢ amount due to settle the obligation can be measured or estimated reliably. 2025 2024 2 Governance Independent Examiners Fees Othy Professional Costs (less excess accruals) Total Expenditure 1.995 1,995 1,995 1,995 Page 8
SANDWELL & DISTRICT WEST INDIAN COMMUNITY ASSOCIATION (A Conu)Any Llmlted by Guarantee) Notes to the accounts cont'd 31 March 2025 2025 6 nllth$ 2024 3. Direet cbArAtable expellditure 3a Nursery Costs Sataries & Wages l95,664 92,260 Nursery direct expenditure: Fwd & Water Cooler Repairs and Maintenance Cleaning & Hygiffle Telq)hone & Postage Heat & Light Prin:ing & Stationery Governance Costs ItL8urance Events/Activiti&Outings Toys & R&8ources HR support Sundry Exps Training Rates and water costs Sundry Transport BaDk Charges Advertising Finance Services Depreciation IT Systen Regulatory costs 8,812 8,601 3.268 5.564 7,592 1.828 3,(X)O 2,442 3,422 921 1,800 168 504 1,088 120 186 1,199 770 470 486 220 3.142 671 1,490 4,033 4,473 907 1,995 1.050 742 693 750 180 47 509 120 91 364 240 235 260 52,461 248,125 21,992 114,252 Total Expenditure 2025 2024 4. Net movement In funds for the year Tbe Det nwvement In funds for the period is stated after charging: D¢prlatE0ll of tangible assets Statutory Accounts Processing and Prq)aration arml tnd4)endent Examination 470 235 3.000 1,995 Page 9
SANDWELL & DISTRICT WEST INDIAN COMMUNITY ASSOCIATION (A Compny Llmlted by Guarantee) Notes to the accounts cont'd 31 March 2025 5. Stsff Costs and RPTI No remuneration or expenses were paid to thc trnstees in the period Sal2ry Costs Social Security costs {aft¢r Employers NHI £ SK allowance Ers Pension costs 2025 2024 191,7 715 3,159 195,664 88.580 2,242 1,438 92,260 The average weekly number of staff employed by the charity during the period was as follows: No employee received more than £60,000 in emoluments 13 13 6. Tangible rued assets for use by the Chrlty 2025 2024 Fnehold Nuryery Refmrblihmemt Total Total Equlp FrortY Cost as at l October 2024 Cost as at 31 March 2025 59,523 59.523 112,994 112,994 274,348 274,348 446,865 446,865 442,165 446,865 Acc Depreciation as at l O¢tober 2023 Charge for the period Acc DeplatIOn at 31 Mah 2024 59,522 271,996 470 272,466 332,518 470 331,988 331283 235 331,518 59.522 Net book Value as at 31 March 2024 112,994 1.882 114,877 115,347 2025 2024 7. Debtorj Trade Debtors Prepayinents 3,000 2,972 5.972 1,995 1,249 3,244 8. Bank and Cash Bank Accounts 3,274 3,274 141 141 9. Credltorj ( Amounts falllng due wlthln one year) Accruals Employee's Short terni loan PAYE due (I month ,all previous yea now paid ) 3,000 1,420 1,995 500 1,589 6,009 12,144 14,639 Page 10
SANDWELL & DISTRICT WEST INDIAN COMMUNITY ASSOCIATION (A Company Llmited by Guarantee) Notes to the accounts cont'd 31 Mareh 2025 10. Taxation The company is a registered charity and in the opinion of the directors no liability to tax arises in respect of the period I l. Fund Balances Restricted Funds Unrestricted Funds Total Funds Fwids B/forward as at l October 2024 sUlUs for the period Surplus ¢lforward as at 31 March 2025 I 12,996 (8,903) 14,021 5.118 104.093 14.021 118,114 112,996 Restrleted Funds Unrestrleted Funds Analysls of Net A88ets by Fund Total Fund8 Fixed Assets Net Current Assets Net Assets 112,996 112,996 5,118 118,114 5,l18 5.118 112,996 12. Going Concern Higher levels of overdraft are not available based on the security of the freehold premises which were funded almost exclusively from the Communiiy Fund (now called the Big Lottery). At the time of reporting the charity has recovered to maintain day to day viability. However the on going viability still remains precarious in the current economic climate and producing a surplus to service working capital is still a challenge. The directors continue to take steps and make various difficult decisions to attempt to keep the project afloat. It is planned that the forthcoming periods will continue to produce surpluses to restore overall financtal viability. 13 Commltment under operatlng leases Sadwica has annual commitments under non cancellabl¢ leases: 2025 Equlpment 2024 Equlpment Operating lease payinents are as follows: Within one year 2,500 2,500 The service contract payrnents are for phone equipment and syst¢m Page 11
SANDWELL & DISTRICT WEST INDIAN COMMUNrrY ASSOCIATION (A Company Limlted by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES 31 Mareh 2025 13 Previous yeArs detailed funds Comparative SOFA Statement of Flnancial Activities ( Ineludes sununary of income and expenditure) 31 March 2024 Unrestricted Funds 2024 Restrlcted Funds 2024 Total Funds 2024 Notes 6 Months 6 months 6 moDths Income Charltable Actlvitles Communlty Day Nursery Local Authority SLA Nursery fees Holiday and events funding Early Intervention ant Donations 18,090 89,399 18,090 89,399 3,393 3.361 3.307 117.550 3.393 3,361 1.995 8,749 1,312 108.801 Investment Income Bank Interest 14 14 Total Income 108,815 8,749 117,564 Expendlture Charltable Actlvltles Community Day Nursery 105.503 8.749 114,252 Total Expendlture 105,503 8.749 14,252 Net Income 3,312 3,312 ReconclliAtlon of funds Total funds brought forward (12.215) 112.996 100,781 Total funds carried forward {8.903) 112,996 104,093 Page 12
SANDWELL & DISTIUCT WEST INDIAN COMMUNITY ASSOCIATION 31 March 2025 Independent Examiners Report to the Trustees of SAThDWELL & DISTRICT WEST INDIAN COMMUNITY ASSOCIATION I report to the charity lnte¢S on my examination of the accounts of the company for the year ended 31 March 2025 which is set out on pages 5 to 12. Responsibilities and bus ofreport As the charity trusttts of the company (who are treat¢d as director5 for the purposes of the company law) you are responsiblc for the preparation of the accounts in accordance with th¢ requirements of the Companies Act 2006 ( The 2006 Act, ) Having satisfied myself that the accounts of the company are not required under Part 16 of the 2006 Act and are eligible for independent examination , I report in reSpt of my exatnination of your companys accounts as carried out under section 145 of the Charities Act 2011. In caing out my examination I have followed the Directions given by the Charity Commission under section 145 (5) (b) of the 201 l Act Independent Examiner's Statement I have completed my examination . I confirn] that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect . (i) 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 the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that he accounts give a Irue and fair view ' which is not a matter considered as part of an independent examination ;or the accounts have not been prepared in accordanc¢ 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 treland ( FRS102). (2) (3) (4) I hai'e 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 reached. Signed 2025 Gary Peter Brookes Fellow of Thc tnstitute of Chartcrcd Accountants of England and Wales 130 Wombournc Park Wombourne South Staffs WV5 OLY Page 13