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 2022
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 2022
| 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 2022
TRUSTEES Mrs M Aksler (resigned 8.6.21) 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
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EGERTON COMMUNITY NURSERY LIMITED (REGISTERED NUMBER: 03963495)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2022
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 2022. 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).
REFERENCE AND ADMINISTRATIVE INFORMATION
The information is shown on page 1 of the financial statements and forms part of this report.
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 34% with an increase in expenditure of about 45% .The charity had a surplus of £77,614 (2021 - £92,080).
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 £238,744 (2021 - £161,130).
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.
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 Trustees have 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 Trustees are 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 ............................................. 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 2022.
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 member of the 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
-
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
-
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
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS Date: .............................................
Page 3
EGERTON COMMUNITY NURSERY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 APRIL 2022
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 347,392 Charitable activities Fee income 265,170 Total 612,562 EXPENDITURE ON Charitable activities 3 School expenditure 534,948 NET INCOME 77,614 RECONCILIATION OF FUNDS Total funds brought forward 161,130 TOTAL FUNDS CARRIED FORWARD 238,744 |
Restricted fund £ 57,728 - 57,728 57,728 - - - |
2022 Total funds £ 405,120 265,170 670,290 592,676 77,614 161,130 238,744 |
2021 Total funds £ 330,669 169,977 |
|---|---|---|---|
| 500,646 | |||
| 408,566 | |||
| 92,080 69,050 |
|||
| 161,130 |
The notes form part of these financial statements
Page 4
EGERTON COMMUNITY NURSERY LIMITED (REGISTERED NUMBER: 03963495)
BALANCE SHEET 30 APRIL 2022
| 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 |
2022 £ 40,940 19,492 259,528 279,020 (81,216) 197,804 238,744 238,744 238,744 238,744 |
2021 £ 835 9,610 195,847 205,457 (45,162) 160,295 161,130 161,130 161,130 161,130 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 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 ............................................. and were signed on its behalf by:
The notes form part of these financial statements
............................................. M Blum - Trustee
Page 5
EGERTON COMMUNITY NURSERY LIMITED
CASH FLOW STATEMENT FOR THE YEAR ENDED 30 APRIL 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Net cash (used in)/provided by investing 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 |
2022 £ 112,910 112,910 (49,229) (49,229) 63,681 195,847 259,528 |
2021 £ 77,928 |
|---|---|---|
| 77,928 | ||
| - | ||
| - | ||
| 77,928 117,919 |
||
| 195,847 |
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 2022
| 1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM | OPERATING ACTIVITIES | OPERATING ACTIVITIES |
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Net income for the reporting period (as per the Statement of | |||
| Financial Activities) | 77,614 | 92,080 | |
| Adjustments for: | |||
| Depreciation charges | 9,124 | 280 | |
| Increase in debtors | (9,882) | - | |
| Increase/(decrease) in creditors | 36,054 | (14,432) | |
| Net cash provided by operations | 112,910 | 77,928 |
2.
ANALYSIS OF CHANGES IN NET FUNDS
| At 1.5.21 | Cash flow | At 30.4.22 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 195,847 | 63,681 | 259,528 |
| 195,847 | 63,681 | 259,528 | |
| Total | 195,847 | 63,681 | 259,528 |
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 2022
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Playground equipment - 25% on reducing balance Fixtures and fittings - 25% on reducing balance Motor vehicles - 25% on reducing balance Security gates - 5% straight line
Taxation
The charity is exempt from corporation tax on its charitable activities.
Financial instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
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.
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EGERTON COMMUNITY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2022
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | |||
|---|---|---|---|
| Unrestricted funds £ Donations 1,478 Grants 345,914 347,392 |
Restricted funds £ - 57,728 57,728 |
2022 Total funds £ 1,478 403,642 405,120 |
2021 Total funds £ 10,181 320,488 |
| 330,669 |
Grants received, included in the above, are as follows:
| CST Charitable activities Other grants 3. CHARITABLE ACTIVITIES COSTS Direct Costs (see note 4) £ School expenditure 534,233 4. DIRECT COSTS OF CHARITABLE ACTIVITIES Staff costs Repairs and renewals Rent and utilities Toys and books Insurance Food Security costs Travel Professional Fees Outings and entertainment Staff Training Sundries Depreciation |
Grant funding of activities £ 46,700 |
2022 £ 67,060 - 336,582 403,642 Support costs (see note 5) £ 11,743 2022 £ 316,412 31,947 60,000 8,766 774 7,258 63,878 183 19,987 5,915 4,991 4,998 9,124 534,233 |
2021 £ 34,058 81,398 205,032 |
|---|---|---|---|
| 320,488 | |||
| Totals £ 592,676 |
|||
| 2021 £ 270,483 17,416 48,000 6,807 1,284 5,778 43,390 769 3,570 - - 1,318 280 |
|||
| 399,095 |
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EGERTON COMMUNITY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2022
5. SUPPORT COSTS
| Finance £ School expenditure 1,729 Support costs, included in the above, are as follows: |
Governance Other costs £ £ 6,812 3,202 |
Totals £ 11,743 |
|---|---|---|
Finance
| Finance | ||
|---|---|---|
| 2022 | 2021 | |
| School | Total | |
| expenditure | activities | |
| £ | £ | |
| Bank charges | 1,729 | 1,636 |
| Other | ||
| 2022 | 2021 | |
| School | Total | |
| expenditure | activities | |
| £ | £ | |
| Office expenditure | 6,812 | 5,621 |
| Governance costs | ||
| 2022 | 2021 | |
| School | Total | |
| expenditure | activities | |
| £ | £ | |
| Independent examiner's fee | 540 | 360 |
| Independent examiner's other fees | 1,920 | 1,560 |
| General expenses | 742 | 294 |
| 3,202 | 2,214 |
6. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 9,124 | 280 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2022 nor for the year ended 30 April 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 April 2022 nor for the year ended 30 April 2021.
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EGERTON COMMUNITY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2022
8. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| Teachers | 56 | 34 |
No employees received emoluments in excess of £60,000.
9. TANGIBLE FIXED ASSETS
| Fixtures Playground and equipment fittings £ £ COST At 1 May 2021 - 2,602 Additions 32,269 - At 30 April 2022 32,269 2,602 DEPRECIATION At 1 May 2021 - 1,985 Charge for year 8,067 154 At 30 April 2022 8,067 2,139 NET BOOK VALUE At 30 April 2022 24,202 463 At 30 April 2021 - 617 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments |
Motor vehicles £ 3,900 - 3,900 3,682 55 3,737 163 218 |
Security gates £ - 16,960 16,960 - 848 848 16,112 - 2022 £ 18,492 1,000 19,492 |
Totals £ 6,502 49,229 |
|---|---|---|---|
| 55,731 | |||
| 5,667 9,124 |
|||
| 14,791 | |||
| 40,940 | |||
| 835 | |||
| 2021 £ 9,610 - |
|||
| 9,610 |
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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EGERTON COMMUNITY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2022
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| Trade creditors Social security and other taxes Accruals and deferred income |
2022 £ 64,635 14,121 2,460 81,216 |
2021 £ 27,201 14,121 3,840 |
| 45,162 |
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted funds £ Fixed assets 40,940 Current assets 279,020 Current liabilities (81,216) 238,744 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 |
Restricted fund £ - - - - At 1.5.21 £ 161,130 161,130 Incoming resources £ 612,562 57,728 670,290 |
2022 2021 Total Total funds funds £ £ 40,940 835 279,020 205,457 (81,216) (45,162) 238,744 161,130 Net movement At in funds 30.4.22 £ £ 77,614 238,744 77,614 238,744 Resources Movement expended in funds £ £ (534,948) 77,614 (57,728) - (592,676) 77,614 |
|---|---|---|
13. MOVEMENT IN FUNDS
Page 12
EGERTON COMMUNITY NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2022
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.5.20 £ Unrestricted funds General fund 69,050 TOTAL FUNDS 69,050 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 466,588 Restricted funds Restricted 34,058 TOTAL FUNDS 500,646 |
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 |
|---|---|
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2022.
Page 13