**COMPANY REGISTRATION NUMBER: 03963495 CHARITY REGISTRATION NUMBER: 1081069** ## **EGERTON COMMUNITY NURSERY LIMITED** ## **TRUSTEES' REPORT AND UNAUDITED ACCOUNTS** **30 APRIL 2024** **EGERTON COMMUNITY NURSERY LIMITED** ## **EGERTON COMMUNITY NURSERY LIMITED COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS 30 APRIL 24** ||Pages|| |---|---|---| |Trustees' Annual Report||2| |Independent Examiner's Report||4| |Statement of Financial Activities||5| |Balance Sheet||6| |Statement of Cash flows||7| |Notes to the Accounts||8| 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 2024. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Company No. 03963495** ## **Charity No. 1081069** ## **Principal 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** CHS 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 £773,871 (2023: £599,062). Total resources expended was £772,258 (2023: £2679,774). ## **FINANCIAL REVIEW** ## **Financial Position** The financial results of the charity for the year ended 30 April 2024 are fully reflected in the attached Financial Statements together with the Notes thereon. At 30 April 2024, the charity had Unrestricted Funds of £119,675 (2023: £120,682). Page 2 **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 27 February 2025 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 2024 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** As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW. 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. ## **P Shebson ACA** CHS Accountants Limited 45 Stamford Hill London N16 5SR 27 February 2025 Page 4 **EGERTON COMMUNITY NURSERY LIMITED STATEMENT OF FINANCIAL ACTIVITIES** ## **FOR THE YEAR ENDED 30 APRIL 2024** |**Unrestricted**
**funds**
**2024**
**Notes**
**£**
**Income and endowments from:**
Donations and legacies
3
506,620
Charitable activities
4
267,251
**Total**
773,871
**Expenditure on:**
Charitable activities
5
772,258
**Total**
772,258
**Net income/(expenditure)**
1,613
**Net movement in funds**
1,613
**Reconciliation of funds:**
Total funds brought forward
13
118,062
**Total funds carried forward**
119,675|**Total funds**
**2024**
**£**
506,620
267,251|**Total funds**
**2023**
**£**
276,963
282,129| |---|---|---| ||773,871
772,258|559,092
679,774| ||772,258|679,774| ||1,613|(120,682)| ||1,613
118,062|(120,682)
238,744| ||119,675|118,062| Page 5 **EGERTON COMMUNITY NURSERY LIMITED BALANCE SHEET** ## **AS AT 30 APRI 2024** |**Company No.**
**03963495**
**Notes**
**2024**
**£**
**Fixed assets**
Tangible assets
9
28,380
28,380
**Current assets**
Debtors
10
28,337
Cash at bank and in hand
95,530
123,867
**Creditors:**Amount falling due within
one year
11
(32,572)
**Net current assets**
91,295
**Total assets less current liabilities**
119,675
**Total net assets**
119,675
**The funds of the charity**
**Unrestricted funds**
General funds
12
119,675
119,675
**Total funds**
119,675|**2023**
**£**
33,884| |---|---| ||33,884
45,733
98,543| ||144,276
(60,098)| ||84,178
118,062| ||118,062| ||118,062| ||118,062| ||118,062| 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 2024 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 27 February 2025 And signed on its behalf by: M Blum Trustee 27 February 2025 Page 6 **EGERTON COMMUNITY NURSERY LIMITED STATEMENT OF CASH FLOWS** ## **FOR THE YEAR ENDED 30 APRIL 2024** |**Cash flows from operating activities**
**Net income/(expenditure) per Statement of Financial Activities**
**Adjustments for:**
Depreciation of property, plant and equipment
Decrease/(Increase) in trade and other receivables
Decrease in trade and other payables
**Net cash used in operating activities**
**Cash flows from investing activities**
**Net cash from investing activities**
**Cash flows from financing activities**
**Net cash from financing activities**
**Net decrease in cash and cash equivalents**
**Cash and cash equivalents at the beginning of the year**
**Cash and cash equivalents at the end of the year**
**Components of cash and cash equivalents**
Cash and bank balances|**2024**
**£**
1,613
5,504
17,396
(30,406)
(5,893)
-
-
(5,893)
98,543
92,650
95,530
95,530|**2023**
**£**
(120,682)
7,056
(26,241)
(21,538)| |---|---|---| |||(161,405)| |||-| |||| |||-| |||| |||(161,405)| |||259,528| |||98,123| |||| |||98,543| |||| |||98,543| Page 7 **EGERTON COMMUNITY NURSERY LIMITED NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 30 APRIL 2024** ## 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 45 Stamford Hill, London, N16 5SR. ## **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. ## **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. Page 8 **EGERTON COMMUNITY NURSERY LIMITED NOTES TO THE ACCOUNTS** ## **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| ## **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. Page 9 ## **EGERTON COMMUNITY NURSERY LIMITED NOTES TO THE ACCOUNTS** ## 3 **Income from donations and legacies** |**Unrestricted**
**£**
Donations
506,620
506,620
4
**Income from charitable activities**
**Unrestricted**
**£**
Fee Income
267,251
267,251
5
**Expenditure on charitable activities**
**Unrestricted**
**£**
_Expenditure on charitable_
_activities_
School expenditure
769,378
_Governance costs_
Independent Examiner's fees
2,880
772,258
6
**Net income/(expenditure) before transfers**
This is stated after charging:
Depreciation of owned fixed assets
Independent Examiner's fee
7
**Trustee remuneration and expenses**|**Restricted**
**£**
-
-
**Restricted**
**£**
-
-
**Restricted**
**£**
-
-
-|**Endowment**
**£**
-
-
**Endowment**
**£**
-
-
**Endowment**
**£**
-
-
-
**2024**
**£**
5,503
2,880|**Total**
**2024**
**£**
506,620
506,620
**Total**
**2024**
**£**
267,251
267,251
**Total**
**2024**
**£**
769,378
2,880
772,258|**Total**
**2023**
**£**
276,963| |---|---|---|---|---| |||||276,963| |||||**Total**
**2023**
**£**
282,129| |||||282,129| |||||**Total**
**2023**
**£**
676,894
2,880| |||||679,774| |||||**2023**
**£**
7,055
2,880| 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. Page 10 **EGERTON COMMUNITY NURSERY LIMITED NOTES TO THE ACCOUNTS** ## 8 **Staff costs** |**Staff costs**||| |---|---|---| |Salaries and wages|**2024**
**£**
552,785
552,785|**2023**
**£**
466,924| |||466,924| No employee received emoluments in excess of £60,000. The average monthly number of full time equivalent employees during the year was as follows: |Teachers|**2024**
**Number**
54
54|**2023**
**Number**
46| |---|---|---| |||46| ## 9 **Tangible fixed assets** |**Playground**
**equipment**
**£**
**Cost or revaluation**
At 1 May 2023
32,269
At 30 April 2024
32,269
**Depreciation and impairment**
At 1 May 2023
14,118
Depreciation charge for the year
4,538
At 30 April 2024
18,656
**Net book values**
At 30 April 2024
13,613
At 30 April 2023
18,151
10 **Debtors**
Trade debtors
Other debtors
Prepayments and accrued income
11 **Creditors:**
amounts falling due within one year
Trade creditors
Other taxes and social security
Accruals|**Fixtures and**
**fittings**
**£**
2,602
2,602
2,255
87
2,342
260
347|**Motor**
**vehicles**
**£**
3,900
3,900
3,778
31
3,809
91
122
**2024**
**£**
8,337
20,000
-
28,337
**2024**
**£**
27,237
(425)
5,760
32,572|**Security**
**gates**
**£**
16,960
16,960
1,696
848
2,544
14,416
15,264|**Total**
**£**
55,731| |---|---|---|---|---| |||||55,731| |||||21,847
5,504| |||||27,351| |||||28,380| |||||33,884| |||||**2023**
**£**
24,733
20,000
1,000| |||||45,733| |||||**2023**
**£**
45,618
11,600
2,880| |||||60,098| Page 11 **EGERTON COMMUNITY NURSERY LIMITED NOTES TO THE ACCOUNTS** ## 12 **Movement in funds** |12|**Movement in funds**||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| ||||||**Incoming**||||||| ||||||**resources**
**(including**
**other**||**Resources**
**expended**||**Gross**
**transfers**||**At 30 April**
**2024**| ||||**At 1 May**||**gains/losses)**||||||| ||||**2023**||||||||| ||||||**£**||**£**||**£**||**£**| ||**Unrestricted funds:**||||||||||| ||**General funds**||118,062||773,871||(772,258)||-||119,675| ||**Total funds**||118,062||773,871||(772,258)||-||119,675| |13|**Analysis of net assets between funds**||||||||||| ||||||**Unrestricted**
**funds**||**Restricted**
**funds**||**Endowment**
**funds**||**Total**| ||||||**£**||**£**||**£**||**£**| ||Fixed assets||||28,380||-||-||28,380| ||Net current assets||||91,295||-||-||91,295| ||||||119,675||-||-||119,675| ## 14 **Related party disclosures** Other than those mentioned above there are no related party transactions as require disclosure. Page 12