COMPANY REGISTRATION NUMBER: 03963495 CHARITY REGISTRATION NUMBER: 1081069
EGERTON COMMUNITY NURSERY LIMITED
TRUSTEES' REPORT AND UNAUDITED ACCOUNTS
30 APRIL 2023
EGERTON COMMUNITY NURSERY LIMITED
EGERTON COMMUNITY NURSERY LIMITED COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS 30 APRIL 2023
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 2 | |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Balance Sheet | 6 | |
| Notes to the Accounts | 7 |
Page 1
EGERTON COMMUNITY NURSERY LIMITED TRUSTEES ANNUAL REPORT
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 30 April 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 03963495
Charity No. 1081069
Principal and Registered Office
87 Egerton Road London N16 6UE
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law.
The following Directors and Trustees served during the year:
M Blum R Freudenberger
Accountants
Hirsh Accountants Limited 45 Stamford Hill London N16 5SR
OBJECTIVES AND ACTIVITIES
Objectives and aim
The charity's objectives are to further those purposes both in the UK and overseas which are recognised as charitable under English Law, in particular the advancement of Jewish religious education.
The charity receives income from charitable donations and loan interest, which it utilises in the provision and distribution of grants and donations.
The charity's activity is principally, but not limited to, the provision of Jewish religious education through a nursery for children aged 3 to 5, many of whom come from underprivileged homes. Fees are charged but those experiencing financial hardship can be fully or partly funded, dependent upon the circumstances. No child is refused an education due to financial restraints.
ACHIEVEMENTS AND PERFORMANCE
During the year the charity pursued its objects through operating a nursery. Income aggregated £599,092 (2022: £670,290). Total resources expended was £679,774 (2022: £592,676).
FINANCIAL REVIEW
Financial Position
The financial results of the charity for the year ended 30 April 2023 are fully reflected in the attached Financial Statements together with the Notes thereon.
During the year, the charity's Statement of Financial Activities show a surplus of £120,682 (2022: £77,614).
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EGERTON COMMUNITY NURSERY LIMITED TRUSTEES ANNUAL REPORT
Reserves Policy
It is the policy of the charity to maintain Unrestricted Funds, which include the Free Reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely costs of the charity for the next year.
PLANS FOR FUTURE PERIODS
The future plans of the charity are to continue to provide a nursery and supply high quality Jewish religious education.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The Charity is constituted as a company limited by guarantee and as such, its governing documents are its Memorandum and Articles of Association.
New trustees are appointed based on personal competence, availability and knowledge and familiarity with the community which the charity serves. New trustees are inducted into the workings of the charity by the existing trustees.
The trustees administer the day-to-day affairs of the charity. None of the trustees have any beneficial interest in the charity.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
M Blum
Trustee 19 April 2024
Page 3
EGERTON COMMUNITY NURSERY LIMITED INDEPENDENT EXAMINERS REPORT
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES of EGERTON COMMUNITY NURSERY LIMITED
I report to the charity trustees on my examination of the financial statements of EGERTON COMMUNITY NURSERY LIMITED for the year ended 30 April 2023 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements of the charity 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 financial statements 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 ACCA, one of the listed bodies.
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the Charities SORP (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 financial statements to be reached.
M Hirsh FCCA
Hirsh Accountants Limited
45 Stamford Hill
London N16 5SR 19 April 2024
Page 4
EGERTON COMMUNITY NURSERY LIMITED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 APRIL 2023
| Unrestricted funds 2023 Notes £ Income and endowments from: Donations and legacies 3 276,963 Charitable activities 4 282,129 Total 559,092 Expenditure on: Charitable activities 5 679,774 Total 679,774 Net movement in funds (120,682) Reconciliation of funds: Total funds brought forward 11 238,744 Total funds carried forward 118,062 |
Total funds 2023 £ 276,963 282,129 |
Total funds 2022 £ 405,120 265,170 |
|---|---|---|
| 559,092 679,774 |
670,290 592,676 |
|
| 679,774 | 592,676 | |
| (120,682) 238,744 |
77,614 161,130 |
|
| 118,062 | 238,744 |
Page 5
EGERTON COMMUNITY NURSERY LIMITED BALANCE SHEET
AS AT 30 APRIL 2023
| Company No. 03963495 Notes 2023 £ Fixed assets Tangible assets 8 33,884 33,884 Current assets Debtors 9 45,733 Cash at bank and in hand 98,543 144,276 Creditors:Amount falling due within one year 10 (60,098) Net current assets 84,178 Total assets less current liabilities 118,062 Total net assets 118,062 The funds of the charity Unrestricted funds General funds 11 118,062 118,062 Total funds 118,062 |
2022 £ 40,940 |
|---|---|
| 40,940 19,492 259,528 |
|
| 279,020 (81,216) |
|
| 197,804 238,744 |
|
| 238,744 | |
| 238,744 | |
| 238,744 | |
| 238,744 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 30 April 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 19 April 2024
And signed on its behalf by:
M Blum
Trustee
19 April 2024
Page 6
EGERTON COMMUNITY NURSERY LIMITED NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2023
1 General Information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 87 Egerton Road, London, N16 6UE.
Statement of Compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Limited liability
In the event of a wind-up each member's liability is limited to £1.
2 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
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EGERTON COMMUNITY NURSERY LIMITED NOTES TO THE ACCOUNTS
Income
| Income | |
|---|---|
| Recognition of income | Income is included in the Statement of Financial Activities (SoFA) when the charity |
| becomes entitled to, and virtually certain to receive, the income and the amount of the | |
| income can be measured with sufficient reliability. | |
| Income with related | Where income has related expenditure the income and related expenditure is reported gross |
| expenditure | in the SoFA. |
| Donations and legacies | Voluntary income received by way of grants, donations and gifts is included in the the SoFA |
| when receivable and only when the Charity has unconditional entitlement to the income. | |
| Tax reclaims on | Income from tax reclaims is included in the SoFA at the same time as the gift/donation to |
| donations and gifts | which it relates. |
| Donated services and | These are only included in income (with an equivalent amount in expenditure) where the |
| facilities | benefit to the Charity is reasonably quantifiable, measurable and material. |
| Volunteer help | The value of any volunteer help received is not included in the accounts. |
| Investment income | This is included in the accounts when receivable. |
| Gains/(losses) on revaluation of fixed |
This includes any gain or loss resulting from revaluing investments to market value at the end of the year. |
| assets | |
| Gains/(losses) on | This includes any gain or loss on the sale of investments. |
| investment assets |
-
Expenditure Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot expenditure be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on raising These comprise the costs associated with attracting voluntary income, fundraising trading funds costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and services charitable activities in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided as relevant in order to write off each asset over its estimated useful life:
| Playground equipment | 25% Reducing balance |
|---|---|
| Fixtures and fittings | 25% Reducing balance |
| Motor vehicles | 25% Reducing balance |
| Security gates | 5% Straight line |
Page 8
EGERTON COMMUNITY NURSERY LIMITED NOTES TO THE ACCOUNTS
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, where applicable, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
3 Income from donations and legacies
| Unrestricted | Restricted | Endowment | Total | Total | |||
|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||
| £ | £ | £ | £ | £ | |||
| Donations | 276,963 | - | - | 276,963 | 405,120 | ||
| 276,963 | - | - | 276,963 | 405,120 | |||
| Income from charitable activities | |||||||
| Unrestricted | Restricted | Endowment | Total | Total | |||
| 2023 | 2022 | ||||||
| £ | £ | £ | £ | £ | |||
| Fee Income | 282,129 | - | - | 282,129 | 265,170 | ||
| 282,129 | - | - | 282,129 | 265,170 | |||
| Expenditure on charitable activities | |||||||
| Unrestricted | Restricted | Endowment | Total | Total | |||
| 2023 | 2022 | ||||||
| £ | £ | £ | £ | £ | |||
| Expenditure on charitable | |||||||
| activities | |||||||
| School expenditure | 676,894 | - | - | 676,894 | 590,216 | ||
| Governance costs | |||||||
| Independent Examiner's Fee | 2,880 | - | - | 2,880 | 2,460 | ||
| 679,774 | - | - | 679,774 | 592,676 |
- 4 Income from charitable activities
5 Expenditure on charitable activities
Page 9
EGERTON COMMUNITY NURSERY LIMITED NOTES TO THE ACCOUNTS
6 Net (expenditure)/income before transfers
| Net (expenditure)/income before transfers | ||
|---|---|---|
| 2023 | 2022 | |
| This is stated after charging: | £ | £ |
| Depreciation of owned fixed assets | 7,055 | 9,124 |
| Independent Examiner's fee | 2,880 | 2,460 |
7 Trustee remuneration and expenses
None of the trustees have been paid any remuneration in the current or prior periods.
None of the trustees have been paid any expenses in the current or prior periods.
8 Tangible fixed assets
| Playground equipment £ Cost or revaluation At 1 May 2022 32,269 At 30 April 2023 32,269 Depreciation and impairment At 1 May 2022 8,067 Depreciation charge for the year 6,051 At 30 April 2023 14,118 Net book values At 30 April 2023 18,151 At 30 April 2022 24,202 9 Debtors Trade debtors Other debtors Prepayments and accrued income 10 Creditors: amounts falling due within one year Trade creditors Other taxes and social security Accruals |
Fixtures and fittings £ 2,602 2,602 2,139 116 2,255 347 463 |
Motor vehicles £ 3,900 3,900 3,737 41 3,778 122 163 2023 £ 24,733 20,000 1,000 45,733 2023 £ 45,618 11,600 2,880 60,098 |
Security gates £ 16,960 16,960 848 848 1,696 15,264 16,112 |
Total £ 55,731 |
|---|---|---|---|---|
| 55,731 | ||||
| 14,791 7,056 |
||||
| 21,847 | ||||
| 33,884 | ||||
| 40,940 | ||||
| 2022 £ 18,492 - 1,000 |
||||
| 19,492 | ||||
| 2022 £ 64,635 14,121 2,460 |
||||
| 81,216 |
Page 10
EGERTON COMMUNITY NURSERY LIMITED NOTES TO THE ACCOUNTS
11 Movement in funds
| 11 | Movement in funds | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Incoming | |||||||||||
| resources (including other |
Resources expended |
Gross transfers |
At 30 April 2023 |
||||||||
| At 1 May | gains/losses) | ||||||||||
| 2022 | |||||||||||
| £ | £ | £ | £ | ||||||||
| Unrestricted funds: | |||||||||||
| General funds | 238,744 | 559,092 | (679,774) | - | 118,062 | ||||||
| Total funds | 238,744 | 559,092 | (679,774) | - | 118,062 | ||||||
| 12 | Analysis of net assets between funds | ||||||||||
| Unrestricted funds |
Restricted funds |
Endowment funds |
Total | ||||||||
| £ | £ | £ | £ | ||||||||
| Fixed assets | 33,884 | - | - | 33,884 | |||||||
| Net current assets | 84,178 | - | - | 84,178 | |||||||
| 118,062 | - | - | 118,062 |
13 Related party disclosures
Other than those mentioned above there are no related party transactions as require disclosure.
Page 11