REGISTERED COMPANY NUMBER: 03963495 (England and Wales) REGISTERED CHARITY NUMBER: 1081069
EGERTON COMMUNITY NURSERY LIMITED (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
EGERTON COMMUNITY NURSERY LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
| Page | ||
|---|---|---|
| Reference and Administrative Details | 1 | |
| Report of the Trustees | 2 | |
| Independent Examiner's Report | 3 | |
| Statement of Financial Activities | 4 | |
| Balance Sheet | 5 | |
| Cash Flow Statement | 6 | |
| Notes to the Cash Flow Statement | 7 | |
| Notes to the Financial Statements | 8 to | 13 |
EGERTON COMMUNITY NURSERY LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 APRIL 2021
TRUSTEES Mrs M Aksler Mrs M Blum Mrs R Freudenberger REGISTERED OFFICE 87 Egerton Road London N16 6UE REGISTERED COMPANY 03963495 (England and Wales) NUMBER REGISTERED CHARITY 1081069 NUMBER INDEPENDENT EXAMINER Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS BANKERS TSB Bank Plc 174 Clapton Common London N16 6XS
Page 1
EGERTON COMMUNITY NURSERY LIMITED (REGISTERED NUMBER: 03963495)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2021
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 30 April 2021. 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 the advancement of the Jewish Religious Education and other charitable purposes.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
In this respect, the trustees have set up a nursery for children between the ages of three and five many of whom are underprivileged. Fees are charged but those in financial hardship are given an allowance or are fully funded, according to circumstances. No child is refused education because of an inability to pay.
FINANCIAL REVIEW
Review of activities and achievements
The trustees are pleased with the results of the year. Income increased by about 26% with an increase in expenditure of 12% .The charity had a surplus of £92,080 ((2020 - £29,025).
Reserves policy
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. At the year end the charity had reserves of £161,130 (2020 - £69,050).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Charity constitution
The charity is constituted as a company limited by guarantee and is governed by a Memorandum and Articles of Association dated 3rd April 2000.
Charity constitution
The charity is constituted as a company limited by guarantee and is governed by a Memorandum and Articles of Association dated 3rd April 2000.
Organisational structure
The power to appoint new trustees is vested in the current board. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.
The day to day running of the nursery is delegated to administrators.
Risk management
The Charity has identified and assessed the major risks to which it is exposed, in particular those of safety and protection of the vulnerable whilst in the Charity's care as well as the finances of the Charity. The Charity is satisfied that systems are in place and routinely assessed including procedures for Child Protection, Health and Safety and Financial Management and Controls.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 27 February 2022 and signed on its behalf by:
Mrs M Blum - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EGERTON COMMUNITY NURSERY LIMITED
Independent examiner's report to the trustees of Egerton Community Nursery Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2021.
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 Institute of Chartered Accountants In England And Wales which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
E Meyer FCA BSc Institute of Chartered Accountants In England And Wales Sugarwhite Meyer Accountants Ltd
First Floor 94 Stamford Hill London N16 6XS
27 February 2022
Page 3
EGERTON COMMUNITY NURSERY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 APRIL 2021
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 296,611 Charitable activities Fee income 169,977 Total 466,588 EXPENDITURE ON Charitable activities 3 School expenditure 374,508 NET INCOME 92,080 RECONCILIATION OF FUNDS Total funds brought forward 69,050 TOTAL FUNDS CARRIED FORWARD 161,130 |
Restricted fund £ 34,058 - 34,058 34,058 - - - |
2021 Total funds £ 330,669 169,977 500,646 408,566 92,080 69,050 161,130 |
2020 Total funds £ 262,620 132,926 |
|---|---|---|---|
| 395,546 366,521 |
|||
| 29,025 40,025 |
|||
| 69,050 |
The notes form part of these financial statements
Page 4
EGERTON COMMUNITY NURSERY LIMITED (REGISTERED NUMBER: 03963495)
BALANCE SHEET 30 APRIL 2021
| Notes FIXED ASSETS Tangible assets 9 CURRENT ASSETS Debtors 10 Cash at bank and in hand CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 13 Unrestricted funds: General fund TOTAL FUNDS |
2021 £ 835 9,610 195,847 205,457 (45,162) 160,295 161,130 161,130 161,130 161,130 |
2020 £ 1,115 9,610 117,919 127,529 (59,594) 67,935 69,050 69,050 69,050 69,050 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(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.
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 27 February 2022 and were signed on its behalf by:
M Blum - Trustee
The notes form part of these financial statements
Page 5
EGERTON COMMUNITY NURSERY LIMITED
CASH FLOW STATEMENT FOR THE YEAR ENDED 30 APRIL 2021
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2021 £ 77,928 77,928 77,928 117,919 195,847 |
2020 £ 50,102 |
|---|---|---|
| 50,102 | ||
| 50,102 67,817 |
||
| 117,919 |
The notes form part of these financial statements
Page 6
EGERTON COMMUNITY NURSERY LIMITED
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 APRIL 2021
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Decrease in debtors Decrease in creditors Net cash provided by operations |
2021 £ 92,080 280 - (14,432) 77,928 |
2020 £ 29,025 373 23,314 (2,610) |
|---|---|---|
| 50,102 |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.5.20 | Cash flow | At 30.4.21 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 117,919 | 77,928 | 195,847 |
| 117,919 | 77,928 | 195,847 | |
| Total | 117,919 | 77,928 | 195,847 |
The notes form part of these financial statements
Page 7
EGERTON COMMUNITY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
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.
Fixtures and fittings - 25% on reducing balance Motor vehicles - 25% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Going concern
There are no material uncertainties about the charity's ability to continue.
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | |||
|---|---|---|---|
| Unrestricted funds £ Donations 10,181 Grants 286,430 296,611 |
Restricted funds £ - 34,058 34,058 |
2021 Total funds £ 10,181 320,488 330,669 |
2020 Total funds £ 12,401 250,219 |
| 262,620 |
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EGERTON COMMUNITY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2021
2. DONATIONS AND LEGACIES - continued
Grants received, included in the above, are as follows:
| CST Charitable activities Other grants 3. CHARITABLE ACTIVITIES COSTS School expenditure 4. DIRECT COSTS OF CHARITABLE ACTIVITIES Staff costs Repairs and renewals Rent and utilities Toys and books Insurance Postage and stationery Food Security costs Travel Professional Fees Sundries Depreciation 5. SUPPORT COSTS Finance £ School expenditure 1,636 |
2021 £ 34,058 81,398 205,032 320,488 Direct Support Costs (see costs (see note 4) note 5) £ £ 399,095 9,471 2021 £ 270,483 17,416 48,000 6,807 1,284 - 5,778 43,390 769 3,570 1,318 280 399,095 Governance Other costs £ £ 5,621 2,214 |
2020 £ - 250,219 - |
|---|---|---|
| 250,219 | ||
| Totals £ 408,566 |
||
| 2020 £ 253,934 3,478 48,000 24 462 1,664 1,527 50,520 200 400 3,182 373 |
||
| 363,764 | ||
| Totals £ 9,471 |
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EGERTON COMMUNITY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2021
5. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
| Finance | |||
|---|---|---|---|
| 2021 | 2020 | ||
| School | Total | ||
| expenditure | activities | ||
| £ | £ | ||
| Bank charges | 1,636 | 609 | |
| Other | |||
| 2021 | 2020 | ||
| School | Total | ||
| expenditure | activities | ||
| £ | £ | ||
| Office expenditure | 5,621 | - | |
| Governance costs | |||
| 2021 | 2020 | ||
| School | Total | ||
| expenditure | activities | ||
| £ | £ | ||
| Independent examiner's fee | 360 | 360 | |
| Independent examiner's other fees | 1,560 | 1,560 | |
| General expenses | 294 | 228 | |
| 2,214 | 2,148 | ||
| 6. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting):
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 280 | 373 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2021 nor for the year ended 30 April 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 April 2021 nor for the year ended 30 April 2020.
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EGERTON COMMUNITY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2021
8. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Teachers No employees received emoluments in excess of £60,000. 9. TANGIBLE FIXED ASSETS Fixtures and fittings £ COST At 1 May 2020 and 30 April 2021 2,602 DEPRECIATION At 1 May 2020 1,779 Charge for year 206 At 30 April 2021 1,985 NET BOOK VALUE At 30 April 2021 617 At 30 April 2020 823 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Accruals and deferred income |
2021 34 Motor vehicles £ 3,900 3,608 74 3,682 218 292 2021 £ 9,610 2021 £ 27,201 14,121 3,840 45,162 |
2020 50 Totals £ 6,502 5,387 280 5,667 835 1,115 2020 £ 9,610 2020 £ 46,057 11,617 1,920 |
|---|---|---|
| 59,594 |
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EGERTON COMMUNITY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2021
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted funds £ Fixed assets 835 Current assets 205,457 Current liabilities (45,162) 161,130 13. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
Restricted fund £ - - - - At 1.5.20 £ 69,050 69,050 Incoming resources £ 466,588 34,058 500,646 At 1.5.19 £ 40,025 40,025 |
2021 2020 Total Total funds funds £ £ 835 1,115 205,457 127,529 (45,162) (59,594) 161,130 69,050 Net movement At in funds 30.4.21 £ £ 92,080 161,130 92,080 161,130 Resources Movement expended in funds £ £ (374,508) 92,080 (34,058) - (408,566) 92,080 Net movement At in funds 30.4.20 £ £ 29,025 69,050 29,025 69,050 |
|---|---|---|
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EGERTON COMMUNITY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2021
13. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS |
Incoming resources £ 345,026 50,520 395,546 |
Resources Movement expended in funds £ £ (316,001) 29,025 (50,520) - (366,521) 29,025 |
|---|---|---|
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2021.
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