**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 Page 1 ## **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: 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. 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. Page 8 ## **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| Page 9 ## **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. Page 10 ## **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** Page 11 ## **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