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2020-08-31-accounts

REGISTERED COMPANY NUMBER: 03658981 (England and Wales) REGISTERED CHARITY NUMBER: 1081067

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2020

FOR

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

Whitehead & Howarth 327 Clifton Drive South Lytham St Annes Lancashire FY8 1HN

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31ST AUGUST 2020

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10 to 11
Notes to the Financial Statements 12 to 19
Detailed Statement of Financial Activities 20 to 21

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 31ST AUGUST 2020

TRUSTEES H C Atkinson
C E Barnes
D G Brown
E A Hodgson
P M Gibbons
COMPANY SECRETARY C E Barnes
REGISTERED OFFICE 327 Clifton Drive South
Lytham St Annes
Lancashire
FY8 1HN
PRINCIPAL ADDRESS Clarendon Road North
Lytham St Annes
Lancashire
FY8 3EE
REGISTERED COMPANY 03658981 (England and Wales)
NUMBER
REGISTERED CHARITY 1081067
NUMBER
INDEPENDENT EXAMINER Whitehead & Howarth
327 Clifton Drive South
Lytham St Annes
Lancashire
FY8 1HN
BANKERS TSB Bank Plc
25-27 Birley Street
Blackpool
Lancashire
FY1 1EG
HONORARY PRESIDENT Mrs Elaine Nightingale

Page 1

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

REPORT OF THE TRUSTEES

for the Year Ended 31ST AUGUST 2020

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 31st August 2020. 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

To advance the education of children below compulsory school age by providing or assisting in the provision of educational recreational and other charitable facilities and to advance the education of pupils attending Heyhouses Endowed Church of England Primary School by furthering the charitable purposes of the Heyhouses Endowed Church of England Primary School Fund. The charity may make donations from surplus funds to Heyhouses Church of England Primary School as stated in the charity's objectives.

• The nursery curriculum is designed to develop continuity and progression within the agreed guidelines from the age of three until the end of the Reception year.

Comment

It is evident to all trustees that staff at Heyhouses Nursery ensure that these aims and objectives are met. Nursery is a stimulating and happy environment where children develop as individuals and as a socially interactive group. Extremely favourable comments in parental surveys confirmed their satisfaction with the standard of education and care provided.

Mission Statement

We seek to enable children to reach their full potential educationally, spiritually and socially so that they may become all that God has created them to be.

Public benefit

The trustees consider that the main activities undertaken by the charity to carry out its charitable purposes are for the public benefit and furthermore they consider that they have complied with their duty to have due regard to the commission’s public benefit guidance when exercising any powers or duties to which the guidance is relevant.

Volunteers and students

Nursery staff and trustees are grateful for the regular and valuable contribution of volunteers, special support workers and students from the local college for their valuable input of activities.

Mrs Leanne Phillips volunteered to support literacy in nursery. She has set up and successfully runs a library for the nursery children. We are also pleased to report that an ex-nursery & pupil of Heyhouses, Grace Strickland joined the volunteer team during July 2020.

Miss Jessica Cuff was a valuable student during the autumn and spring terms.

Page 2

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

REPORT OF THE TRUSTEES

for the Year Ended 31ST AUGUST 2020

ACHIEVEMENT AND PERFORMANCE Charitable activities Finance

The payment of fees continues to create the majority of the charities income. Parents are entitled to 15 hours per week for 38 weeks of funded care from the LEA the term after the child's third birthday, this is now called Funding for Early Years (FEE). This is also now available for two year olds who meet the criteria.

This year has seen the continuation of the 30 hours funded provision which was introduced under a government initiative and is well embedded into the system, however this continues to have an impact on the finances of the nursery. The number of families accessing the additional (Enhanced) 15 hours remained at 20 families. Parents were happy to adhere to this ruling and several agree to pay the additional fees. Trustees are confident that they are fulfilling the requirements of the scheme by providing the enhanced hours in support of working parents.

Early Years Pupil Premium continues to be paid to FEE children aged 3-4 who meet the criteria. This year 8 children accessed the additional funding which was used to support ball skill sessions provided by the YMCA as well as supporting these children with additional sessions and covering the costs of hot meals and providing SEN support.

Additional finance was raised through fundraising events.

Trustees will consider family circumstances and use their discretion to waive or reduce fees for children who have special/specific needs or whose pre-school years will by significantly enhanced by attendance at Heyhouses Nursery. The guiding principle when considering such cases is that no child who needs our support should be prevented from attending our nursery by a financial barrier. During 2019-2020, trustees supported two children. Due to family circumstances it was beneficial for one child to be in nursery 3 full days each week and the other who required a hot meal at lunchtime.

Accommodation

Heyhouses C of E Nursery is located in a new purpose built brick building which is located on land owned by The Lytham Schools Trust on Clarendon Road North, Lytham St Annes. This was the fifth year in the new build.

Staffing

Staffing levels have remained constant throughout the year.

Mrs Jean Knight returned to both her nursery and domestic roles following her knee replacement operation.

Miss Robyn Whiteside was promoted to Deputy in November 2020.

Mrs Julie Ward stepped down as deputy to focus on her SEN role.

Mrs Sarah Lowry resigned in October, for personal reasons.

Mrs Janet Stevens indicated her intention to retire in August 2020, which she duly took.

Mrs Wendy Mason also retired at the end of August for personal reasons.

The Performance Management continues to work well with Mr Clive Barnes as the lead with Joanne Kaced in a supporting role.

Lead Practitioner Status was again awarded to the nursery. The nursery continues to be used as an example of good practice to other nurseries throughout Lancashire, although there is no additional funding for the status.

Breakfast Club & After Nursery School Club

Page 3

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

REPORT OF THE TRUSTEES

for the Year Ended 31ST AUGUST 2020

These clubs continue to operate very well under the leadership of Miss Robyn Whiteside & Miss Sam Surtees and Miss Darcy Porter

Grants

No grants were available this year for nursery resources

Quality Award

Following the completion of the Lancashire Quality Award (LQA) in March 2014 nursery staff continue to ensure that the quality of care and education is upheld.

Ofsted

The nursery was inspected 14 January 2016 and was graded as 'Outstanding' in ALL areas. The inspector could not find any areas for improvement she praised all areas of the nursery and advised nursery to "devise even more ways to enrich children's love of books and storytelling while outside". This was already part of the development plan. It was an excellent report. Since the report Mrs Kaced and the senior management team have continued to update and progress the development plan to ensure nursery provision remains of the highest standard.

Communication

At Heyhouses Nursery we recognise the privileged position we have when parents entrust the care of their young children to us. Our work is very much in partnership with those parents and carers and good communication is vital. We issue weekly newsletters and regular emails with information regarding activities and events taking place. Two detailed newsletters are produced each term, these are also sent to families whose children will be joining the nursery in the future.

This year saw the introduction of a nursery Facebook page which has enhanced the impact on communication.

A meeting is held for parents and carers of new starters in the Summer Term. Open Evenings and Parent Workshops are held throughout the year for families of children currently attending nursery and to those who are looking for nursery provision in the future.

At the end of the Summer Term a transition report is prepared on the progress of all children.

Feedback is encouraged from parents and carers on a regular basis particularly after open evenings and parent workshops.

Informal meetings are held throughout the year when parents have the opportunity to discuss progress etc with their child's key person.

During the Spring and Summer Terms staff from the Reception Department would normally visit nursery to take part in 'storytime' and small groups of nursery children are taken to the Reception Department during the Summer Term,. This is valuable work as it supports the transition of children from nursery to school and is welcomed by staff and parents.

Pandemic - COVID-19

The New Year started as normal for everyone, news that a pandemic which had started in China was spreading into Europe. Nursery continued to operate through the first half of the Spring Term, but then the country went into a full lockdown. The impact on nursery was as follows:

Page 4

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

REPORT OF THE TRUSTEES

for the Year Ended 31ST AUGUST 2020

• As lockdown was relaxed the number of children requiring care increased and it became necessary to re-open nursery following a deep clean in the middle of June

• During lockdown thirteen staff were furloughed, with some returning to work during the second half of the summer term

• Nursery trustees agreed to continue to pay 100% of salaries until 31st August when it would be reviewed. It was not necessary to continue furloughing staff from September 2020

• Breakfast & After School fees had to be refunded for the spring term along with fees received for the nursery families, so this had a significant impact on the finances. Fee invoices of £31,481were cancelled in the year contributing to a major part in the reduction in income.

Fundraising activities

The 'Friends of Heyhouses Nursery' continued to work hard raising valuable additional funds for nursery. This money was used to purchase various resources for nursery.

We are very grateful to parents who supported nursery in raising these additional funds. Fundraising events this year were reduced due to the restrictions imposed by the pandemic. The Friends managed to oversee two fundraising efforts:

FINANCIAL REVIEW

Financial position

Net income as disclosed in the Statement of Financial Activities is £12,150, surplus, (2019:£31,773 surplus), and reserves are £445,518, (2019:£433,368) All reserves are unrestricted..

Investment policy and objectives

Under the Memorandum and Articles of Association, the charity has the power to make any investment which the trustees see fit. The trustees have considered the most appropriate policy for investing funds and have found that immediate access bank accounts meet the requirement to allow the funds to be readily available, surplus funds have been invested in shares which will produce dividend income and do not have any material risk.

Reserves policy

The trustees have examined the charity's requirements for reserves in the light of the main risks to the organization. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between three and six months of the expenditure.

The reserves are needed to meet the working capital requirements of the charity and the trustees are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding. The present level of reserves available to the charity at 31 August 2020 are £445,518.

Going concern

The Trustees have considered the financial circumstances of the charity at the year end and determined that the going concern basis is appropriate.

Page 5

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

REPORT OF THE TRUSTEES

for the Year Ended 31ST AUGUST 2020

FUTURE PLANS

Plans for Future Periods

Money raised through fundraising will continue to be used to develop the resources and equipment in the nursery in line with the requirements of the EYFS and to ensure resources which are used inside are also provided for use in the outdoor area. The Development Plan clearly outlines the focus for the coming year. This year due to the pandemic the wellbeing of the children and staff are the main focus points this year:

The Quality of Education

• To continue developing 'Planning in the Moment' and building on what we have achieved so far

• To focus on the environment both inside and out

Positive Relationships

Leadership and Management

Nursery was at 88.5% capacity from January to March 2020, an increase of 3.5% on the previous year.

Napthens Solicitors continued to be a support for the reclamation of debts and supporting the trustees with HR.

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.

Recruitment and appointment of new trustees

The directors of the company are also charity trustees for the purposes of charity law and also constitute the management committee. The directors may appoint a person who is willing to act as a director, either to fill a vacancy or as an additional director provided that the maximum of five as set by the articles is not exceeded. The directors would seek to appoint a director from a member of the governing body of Heyhouses C of E Primary School. All directors presenting themselves for re-election will be deemed to have been re-elected unless at the annual general meeting it is resolved not to fill a vacancy or unless a resolution for the re-appointment of the director is put to the meeting and lost.

Trustees meetings

Meetings are held at least twice per year to review progress. Meetings of the Nursery Management Team comprising Clive Barnes, Elizabeth Hodgson, Helen Atkinson, Denise Brown and Joanne Kaced are held as and when required to discuss and decide upon matters of policy, staffing, finance, budgeting and pay review. The Chairman or other appointed trustee meets with all staff at least twice a year.

Page 6

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

REPORT OF THE TRUSTEES

for the Year Ended 31ST AUGUST 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT

Induction and training of new trustees

The trustees are already familiar with the practical work of the charity and additionally are invited and encouraged to attend meetings and training sessions to familiarise themselves with the charity and the context within which it operates and cover:-

• The obligations of trustees,

New trustees would be invited to the setting to familiarise themselves with the work of the charity. They would also be provided with a handbook containing full details of the work of the charity along with the Memorandum and Articles of Association and the latest financial statements. New trustees would have an induction programme followed by an analysis of this induction.

Key management remuneration

Mrs D G Brown the nursery business manager and trustee is regarded as key management personnel and received remuneration as detailed in note 5 of the financial statements.

Related parties

The Eco Pod

Trustees continue to work closely with school in developing the use of the EcoPod. Trustees wish to record their gratitude to Richard James for the continued support he has given and continues to give to nursery in relation the Pod. The Charity Incorporated Organisation has been set up. One trustee and one member of staff from the Nursery will serve as trustees of the new CIO, named pod@heyhouses. Nursery has designated times to use the eco pod.

A long term arrangement was made with the St Johns' Ambulance for them to deliver training in the Pod on a weekly basis, generating a regular income, however this was interrupted by the Coronavirus.

Transactions with related parties are as detailed in note 17 of the financial statements.

Risk management

The trustees have conducted a review of the major risks to which the charity is exposed. A risk register has been established and is updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures consistent with the activities of the charity and in accordance with Ofsted inspections. Procedures are in place to ensure compliance with health and safety of staff, children, volunteers and visitors to the nursery. These procedures are reviewed annually to ensure that they continue to meet the needs of the charity.

Approved by order of the board of trustees on 12th May 2021 and signed on its behalf by:

C E Barnes - Trustee

Page 7

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

Independent examiner's report to the trustees of Heyhouses Church of England Nursery School Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st August 2020.

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 registered member of ICAEW 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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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.

C.L.Higgins FCA ICAEW Whitehead & Howarth 327 Clifton Drive South Lytham St Annes Lancashire FY8 1HN

17th May 2021

Page 8

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31ST AUGUST 2020

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
45,653
Charitable activities
Nursery provision
226,421
Other trading activities
2
-
Investment income
3
2,171
Total
274,245
EXPENDITURE ON
Raising funds
982
Charitable activities
Nursery provision
260,349
Total
261,331
Net gains/(losses) on investments
(764)
NET INCOME
12,150
RECONCILIATION OF FUNDS
Total funds brought forward
433,368
TOTAL FUNDS CARRIED FORWARD
445,518		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-		 31/8/20
Total
funds
£
45,653
226,421
-
2,171
274,245
982
260,349
261,331
(764)
12,150
433,368
445,518		 31/8/19
Total
funds
£
12,431
280,023
18
1,806
294,278
1,842
257,105
258,947
(3,558)
31,773
401,595
433,368

The notes form part of these financial statements

Page 9

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

BALANCE SHEET 31ST AUGUST 2020

Notes
FIXED ASSETS
Tangible assets
8
Investments
9
CURRENT ASSETS
Stocks
10
Debtors
11
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
13
NET ASSETS
FUNDS
16
Unrestricted funds
TOTAL FUNDS		 Unrestricted
fund
£
595,211
101,348
696,559
1,419
28,532
173,123
203,074
(91,865)
111,209
807,768
(362,250)
445,518		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-		 31/8/20
Total
funds
£
595,211
101,348
696,559
1,419
28,532
173,123
203,074
(91,865)
111,209
807,768
(362,250)
445,518
445,518
445,518		 31/8/19
Total
funds
£
609,594
80,308
689,902
3,613
31,634
155,141
190,388
(60,172)
130,216
820,118
(386,750)
433,368
433,368
433,368

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 10

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

BALANCE SHEET - continued

31ST AUGUST 2020

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 12th May 2021 and were signed on its behalf by:

C E Barnes - Trustee

The notes form part of these financial statements

Page 11

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31ST AUGUST 2020

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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

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

Tangible fixed assets are stated at cost price inclusive of directly attributable costs less cumulative depreciation, provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold - 2% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Fixed asset investments comprise investments in quoted and unquoted equity instruments which are measured at fair value. Changes in fair value are recognized in profit and loss. Fair value is estimated using a valuation technique.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Government grants

Revenue grants are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

A grant that becomes receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the company with no future related costs, is recognised in income in the period in which it becomes receivable.

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.

continued...

Page 12

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31ST AUGUST 2020

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.

Going concern

The trustees have considered the potential implications of COVID-19 and the measures taken to control it's impact on the charity when assessing the entity’s ability to continue as a going concern. The consideration extended to updating forecasts and sensitivities, taking into account the risk factors identified and the different possible outcomes and assessment of its plans to mitigate events or conditions including the availability of finance if needed. On this basis the trustees have concluded that the going concern basis is appropriate.

2. OTHER TRADING ACTIVITIES

2. OTHER TRADING ACTIVITIES
31/8/20 31/8/19
£ £
Fundraising events - 18
3. INVESTMENT INCOME
31/8/20 31/8/19
£ £
Deposit account interest 57 671
Dividend income 2,114 1,135
2,171 1,806
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31/8/20 31/8/19
£ £
Independent examiners fees 2,400 2,400
Depreciation - owned assets 15,652 15,919
5. TRUSTEES' REMUNERATION AND BENEFITS
31/8/20 31/8/19
£ £
Trustees' salaries 15,375 14,438
Trustees' social security 922 819
Trustees' pension contributions to money purchase schemes 276 205
16,573 15,462

Legal authority for payment was granted by the Charity Commission for England & Wales. The salary was paid to Mrs DG Brown in respect of her position as nursery business manager.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st August 2020 nor for the year ended 31st August 2019.

continued...

Page 13

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31ST AUGUST 2020

6. STAFF COSTS

The average monthly number of employees during the year was as follows:

31/8/20 31/8/19
Nursery provision 18 18
No employees received emoluments in excess of £60,000.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 12,431 - 12,431
Charitable activities
Nursery provision 280,023 - 280,023
Other trading activities 18 - 18
Investment income 1,806 - 1,806
Total 294,278 - 294,278
EXPENDITURE ON
Raising funds 1,842 - 1,842
Charitable activities
Nursery provision 257,105 - 257,105
Total 258,947 - 258,947
Net gains/(losses) on investments (3,558) - (3,558)
NET INCOME 31,773 - 31,773
RECONCILIATION OF FUNDS
Total funds brought forward 401,595 - 401,595
TOTAL FUNDS CARRIED FORWARD 433,368 - 433,368

continued...

Page 14

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31ST AUGUST 2020

8. TANGIBLE FIXED ASSETS

COST
At 1st September 2019
Additions
At 31st August 2020
DEPRECIATION
At 1st September 2019
Charge for year
At 31st August 2020
NET BOOK VALUE
At 31st August 2020
At 31st August 2019
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1st September 2019
Additions
Disposals
Revaluations
At 31st August 2020
NET BOOK VALUE
At 31st August 2020
At 31st August 2019		 Freehold
premises
£
673,620
-
673,620
76,356
13,472
89,828
583,792
597,264		 Fixtures
and
fittings
£
24,592
169
24,761
12,262
1,874
14,136
10,625
12,330		 Computer
equipment
Totals
£
£
5,362
703,574
1,100
1,269
6,462
704,843
5,362
93,980
306
15,652
5,668
109,632
794
595,211
-
609,594
Listed
investments
£
80,308
57,684
(35,882)
(762)
101,348
101,348
80,308

9. FIXED ASSET INVESTMENTS

There were no investment assets outside the UK.

Fair value/open market value of listed investments at 31 August 2020 £101,348, (2019:£80,308).

Page 15

continued...

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31ST AUGUST 2020

10.
STOCKS
31/8/20
£
Stocks
1,419
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/20
£
Trade debtors
14,368
Other debtors
8,307
Prepayments
5,857
28,532
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/20
£
Other loans (see note 14)
24,500
Social security and other taxes
610
Other creditors
53,472
Accrued expenses
13,283
91,865
13.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/8/20
£
Other loans (see note 14)
362,250
14.
LOANS
An analysis of the maturity of loans is given below:
31/8/20
£
Amounts falling due within one year on demand:
Lytham Schools loan
24,500
Amounts falling due between two and five years:
Lytham Schools loan
98,000
Amounts falling due in more than five years:
Repayable by instalments:
Other loans more 5yrs instal
264,250		 31/8/19
£
3,613
31/8/19
£
18,389
10,707
2,538
31,634
31/8/19
£
24,500
694
25,696
9,282
60,172
31/8/19
£
386,750
31/8/19
£
24,500
98,000
288,750

Page 16

continued...

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31ST AUGUST 2020

15. SECURED DEBTS

The following secured debts are included within creditors:

31/8/20 31/8/19
£ £
Lytham Schools loan 386,750 411,250

The loan is secured by way of a fixed and floating charge over the assets of the charitable company.

16. MOVEMENT IN FUNDS

Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as
Unrestricted funds
General fund
TOTAL FUNDS		 follows:
Incoming
resources
£
274,245
274,245		 At 1.9.19
£
433,368
433,368
Resources
expended
£
(261,331)
(261,331)		 Net
movement
At
in funds
31.8.20
£
£
12,150
445,518
12,150
445,518
Gains and
Movemen
losses
in funds
£
£
(764)
12,150
(764)
12,150		 At
31.8.20
£
445,518
445,518
12,150

Comparatives for movement in funds

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.9.18
£
401,595
401,595		 Net
movement
in funds
£
31,773
31,773		 At
31.8.19
£
433,368
433,368

continued...

Page 17

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31ST AUGUST 2020

16. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
294,278
294,278		 Resources
expended
£
(258,947)
(258,947)		 Gains and
Movement
losses
in funds
£
£
(3,558)
31,773
(3,558)
31,773		 Gains and
Movement
losses
in funds
£
£
(3,558)
31,773
(3,558)
31,773
31,773

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.9.18
£
401,595
401,595		 Net
movement
in funds
£
43,923
43,923		 At
31.8.20
£
445,518
445,518

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
TOTAL FUNDS		 Incoming
resources
£
568,523
568,523		 Resources
expended
£
(520,278)
(520,278)		 Gains and
Movement
losses
in funds
£
£
(4,322)
43,923
(4,322)
43,923		 Gains and
Movement
losses
in funds
£
£
(4,322)
43,923
(4,322)
43,923
43,923

17. RELATED PARTY DISCLOSURES

Remuneration paid to D G Brown is detailed in note 5 of the financial statements.

Trustees of Pod@Heyhouses CIO hold other trusteeships in other organisations and transactions with these organisations are as follows.

The charity paid donations of £1,200 to Pod@Heyhouses CIO in the year. The charity granted a loan to Pod@Heyhouses CIO, the amount outstanding at 31/08/2020 was £8,307, (2019:£10,707).

The charity received a donation of £25,000 in the year from The Lytham Schools Foundation.

continued...

Page 18

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31ST AUGUST 2020

18. CONTROLLING PARTY

The charitable company is controlled by the director trustees.

Page 19

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31ST AUGUST 2020

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31ST AUGUST 2020
31/8/20 31/8/19
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 25,032 12,431
Government grants 20,621 -
45,653 12,431
Other trading activities
Fundraising events - 18
Investment income
Deposit account interest 57 671
Dividend income 2,114 1,135
2,171 1,806
Charitable activities
Fees receivable 220,364 270,235
Sale of uniforms 1,226 1,509
Sale of refreshments and lunches 4,831 8,279
226,421 280,023
Total incoming resources 274,245 294,278
EXPENDITURE
Other trading activities
Opening stock 684 1,022
Purchases 1,367 1,504
Closing stock (1,069) (684)
982 1,842
Charitable activities
Trustees' salaries 15,375 14,438
Trustees' social security 922 819
Trustees' pension contributions 276 205
Wages 176,242 163,541
Social security 2,214 1,972
Pensions 2,135 1,381
Rates and water 1,978 2,675
Insurance 3,440 2,875
Light and heat 2,292 2,611
Telephone 1,238 1,266
Printing and stationery 1,703 479
Carried forward 207,815 192,262

This page does not form part of the statutory financial statements

Page 20

HEYHOUSES CHURCH OF ENGLAND NURSERY SCHOOL LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31ST AUGUST 2020

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31ST AUGUST 2020
31/8/20 31/8/19
£ £
Charitable activities
Brought forward 207,815 192,262
Sundries 1,113 886
Staff recruitment and training 361 1,049
Repairs and renewals 5,208 3,229
School meals and refreshments 6,273 10,944
Travelling expenses 114 246
Cleaning costs 1,271 5,596
Bank charges 65 352
Curriculum development 3,990 3,274
Payroll & other accountancy charges 2,298 2,430
Legal and professional fees 4,384 3,424
Bad debts (109) 457
Computer expenses 950 618
Depreciation of premises 13,472 13,473
Depreciation of fixtures and fittings 1,874 2,175
Depreciation of computer equipment 305 271
Loan interest 8,565 14,019
257,949 254,705
Support costs
Governance costs
Independent examiners fees 2,400 2,400
Total resources expended 261,331 258,947
Net income before gains and losses 12,914 35,331
Realised recognised gains and losses
Movement in fair value of investments (764) (3,558)
Net income 12,150 31,773

This page does not form part of the statutory financial statements

Page 21