Company Registration Number 03683177
Ethelburga Early Years Centre
Report and Financial Statements
31 March 2024
Ethelburga Early Years Centre
Report and Financial Statements 31 March 2024
| Contents Page Legal and administrative details 3 Report of the Directors / Trustees 4 Report of the Independent Examiner 7 Statement of financial activities 8 Balance sheet 9 Notes to the financial statements 10 |
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Ethelburga Early Years Centre
31 March 2024
Legal and Administrative Details
Status
Ethelburga Early Years Centre is a charitable company limited by guarantee.
Directors / Trustees
Mrs R Khalid
Ms C Aurelien
Company Secretary
Independent Examiner
Peter Selley FCA Peter F. Selley & Co. 84 Belleville Road London SW11 6PP
Registered office
CBCS Katherine Low Settlement 108 Battersea High Street London SW11 3HP
Company Registration Number
03683177
Registered Charity Number
1077009
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Ethelburga Early Years Centre
31 March 2024
Report of the Directors / Trustees
The Directors / Trustees present their report and financial statements for Ethelburga Early Years Centre (The Company) for the year ended 31 March 2024.
Principal activity
The object and principal activity of the Company is the provision of educational activities to pre-school children in a caring and family orientated environment.
Organisational structure
The company functions as an independent charitable entity, but is also a member of Childcare & Business Consultancy Services (CBCS).
Directors / Trustees
The Directors are also Trustees under charity law. Those Directors / Trustees who held office during the year and subsequently are shown on page 3. The Directors / Trustees have no beneficial interests in the Company.
Directors’ / Trustees’ Responsibilities in respect of the Financial Statements
The Directors / Trustees are responsible for preparing the Directors / Trustees’ Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the Directors / Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
Under company law the Directors / Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing those financial statements, the Directors / Trustees are required to: select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Directors / Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Ethelburga Early Years Centre
31 March 2024
Report of the Directors / Trustees (continued)
Significant Activities
The Company has sought to maintain a high quality of service to the children in its care. In particular, there have been regular reviews of the curricular, to ensure that the level and content of the education provided are appropriate and effective.
The expenditure for the year was £358,548 (2023: £318,197), compared to an income of £332,758 (2023: £317,883). Therefore the deficit for the year was £25,790 (2023: £314). The parental fee income in the year was higher than the previous year’s level. There were no Grants received under the Government’s Furlough Scheme in this year.
The unrestricted funds at 31 March 2024 were £9,895 (2023: £35,685). The Directors have resolved to maintain reserves in excess of £7,500 in these funds, to ensure that the Company can continue to operate as a going concern.
In the year to March 2025, the Company continues to enjoy a very high level of support from volunteers; individuals and local organisations. The staff members are continuing to undertake training that has benefited them both personally and professionally. The setting has supported a government apprenticeship programme and taken on board one apprentice and also provided voluntary placements to students from the local adult college. The setting has to rely on the agency, because of staff shortages in the childcare field. The setting was busier than in the previous year, and has subscribed to childcare development software and also registered staff to an online training portal to support their CPD needs.
Guarantees
Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of a winding up. The total number of such guarantees at 31 March 2024 was 2 (2023: 2).
Small company provisions
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime in Part 15 of the Companies Act 2006. The Directors / Trustees consider that the Company is exempt from an audit.
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Ethelburga Early Years Centre
31 March 2024
Report of the Directors / Trustees (continued)
Independent Examiner
Peter Selley of Peter F. Selley & Co. was appointed by the Directors / Trustees to carry out an independent examination of the Company’s accounts.
By order of the Board
Mrs R Khalid Director
CBCS Katherine Low Settlement 108 Battersea High Street London SW11 3HP
10 March 2025
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Report of the Independent Examiner
To the Directors / Trustees of Ethelburga Early Years Centre
I report on the Company’s financial statements for the year ended 31 March 2024, which comprise the Statement of Financial Activities, the Balance Sheet and the related notes 1 to 8. These financial statements have been prepared under the accounting policies set out therein.
To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company’s Trustees and the Company as a body, for this report.
Respective responsibilities of Directors / Trustees and Examiner
The Charity’s Trustees (who are the directors for the purposes of Charity law) are responsible for the preparation of the financial statements in accordance with applicable United Kingdom law. They also consider that the Charity is exempt from an audit. My responsibility is to carry out procedures designed to enable me to report on the matters set out in the statement below.
Basis of the Independent Examiner’s Report
My work was conducted in accordance with the Statements of Standards for Reporting Accountants, and so my procedures consisted of comparing the accounts with the accounting records kept by the Company, and making such limited enquiries of the officers of the Company as I considered necessary for the purposes of this report. These procedures provide only the assurance expressed in my statement.
Independent Examiner’s Statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements
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a) to keep accounting records in accordance with the Companies Act 2006; and
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b) to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of Accounting and Reporting by Charities: Statement of Recommended Practise (October 2019) and Financial Reporting Standard 102.
have not been met; and
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Peter Selley Peter F. Selley & Co. 84 Belleville Road London SW11 6PP
10 March 2025
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Ethelburga Early Years Centre
Statement of Financial Activities
| Year ended 31 March 2024 Note Incoming resources Charitable activities 2 Grants receivable Investment income Donations Resources expended Direct charitable expenditure 3 Management and administration 4 Net movement in funds Other recognised gains or losses Fund balances brought forward Fund balances carried forward |
£ 332,758 - - - 332,758 268,701 89,847 358,548 (25,790) - 35,685 9,895 |
Year ended | |
|---|---|---|---|
| 31 March 2023 £ 317,883 - - - 317,883 243,957 74,240 318,197 (314) - 35,999 35,685 |
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Ethelburga Early Years Centre
Balance Sheet
| Note Fixed assets Tangible assets 5 Current assets Debtors and prepayments 6 Cash at bank and in hand Creditors: Amounts falling due within one year 7 Net current assets Total assets less current liabilities Funds Unrestricted funds Restricted funds Total funds |
31 March 2024 £ 342 - 27,203 27,203 (17,650) 9,553 9,895 9,895 - 9,895 |
31 March 2023 £ 47 |
|---|---|---|
| - 52,806 |
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| 52,806 (17,168) |
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| 35,638 | ||
| 35,685 | ||
| 35,685 - |
||
| 35,685 |
For the year ending 31[st] March 2024 the Company was entitled to exemption from audit under section 477(2) of the Companies Act 2006.
The members have not required the Company to obtain an audit in accordance with Section 476 of the Companies Act 2006.
The Directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and for the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to small companies’ regime in Part 15 of the Companies Act 2006 and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practise (October 2019) and Financial Reporting Standard 102.
These financial statements were approved by the Board of Directors / Trustees on 10 March 2025 and signed on its behalf by:-
Mrs R Khalid Director / Trustee
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Ethelburga Early Years Centre
Notes to the Financial Statements
1 Accounting policies
The financial statements are prepared under the historical cost convention and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practise (October 2019) and Financial Reporting Standard 102.
The Trustees consider that there are no material uncertainties about the Company’s ability to continue as a going concern.
The particular accounting policies adopted are described below.
(i) Income
Voluntary income is received by way of donations and gifts and is included in income in full when received.
Donations in kind are valued and included in income to the extent that they represent goods or services that would otherwise be purchased.
Grants are recognised in full in the year in which they are receivable or received, whichever is the sooner.
Proceeds from fees charged are recognised as income in the year in which they are receivable.
A Restricted Fund is a fund that is to be used for a specific use, as laid down by the donor. Expenditure that meets the specific criteria is identified to that fund.
(ii) Management and administrative costs
Management and administrative costs relate to all costs incurred in the general administration of the charity, which cannot be directly attributed to the provision of child care services. These include all the costs of statutory compliance.
(iii) Depreciation
Tangible fixed assets are written off over their estimated useful lives. They are depreciated over their estimated useful lives on a straight line basis, principally as follows:
Toys and equipment (greater than £500) 3 years Furniture and fittings 3 years
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Ethelburga Early Years Centre
Notes to the Financial Statements (continued)
2 Charitable activities
Fees receivable:
| Parental fees Wandsworth FNEP |
Year ended 31 March 2024 £ 299,875 32,883 332,758 |
Year ended 31 March 2023 £ 278,976 38,907 |
|---|---|---|
| 317,883 |
3 Direct charitable expenditure
| Wages and NI Agency costs Telephone Other operational costs Equipment |
£ 205,397 34,073 2,581 21,829 4,821 **268,701 ** |
£ 158,687 54,709 1,404 26,746 2,411 |
|---|---|---|
| 243,957 |
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Ethelburga Early Years Centre
Notes to the Financial Statements (continued)
4 Management and administration
| Rent and Rates Insurance Gas and Electricity Wages and NI costs Management Charge Training Miscellaneous Accountancy & Book-keeping Bank Charges Depreciation 5 Tangible assets Cost: At 1 April 2023 Additions in the year Withdrawn in the year At 31 March 2024 Depreciation: At 1 April 2023 Charge for the year Withdrawn in the year At 31 March 2024 Net book value: At 31 March 2024 At 31 March 2023 |
Year ended 31 March 2024 £ 11,709 3,146 14,927 41,732 15,182 - 1,484 965 484 218 89,847 |
Year ended 31 March 2023 £ 8,484 3,716 6,526 40,358 10,885 555 2,173 990 395 158 74,240 Plant and Machinery £ 6,750 513 - 7,263 (6,703) (218) - (6,921) 342 47 |
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Ethelburga Early Years Centre
Notes to the Financial Statements (continued)
6 Debtors and prepayments
| Trade debtors Other Debtors and prepayments |
2024 £ - - - |
2023 £ - - |
|---|---|---|
| - |
7 Creditors - amounts falling due within one year
| Tax, social security and holiday accrual Other creditors and accruals |
2024 £ 4,000 13,650 17,650 |
2023 £ 2,750 14,418 |
|---|---|---|
| 17,168 |
8 Related party transactions
In the year the company paid £15,182 (2023: £10,885) to its umbrella organisation for consultancy services. There were no balances outstanding at either year-end.
Also, in the year the company paid £13,382 (2023: £24,546) to a subsidiary of its umbrella organisation for agency staff. There were no balances outstanding at either year-end.
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