REGISTERED COMPANY NUMBER: 03719730 (England and Wale51 REGISTERED CHARITY NUMBER: 1081699 Re ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024 for LONGBRIDGE CHILDCARE STRATEGY GROUP Cooper Parry Advisory Limited CUBO Birmingham 4th Floor Two Chamberlain Square Birmingham West Midlands B3 3AX
LONGBRIDGE CHILDCARE STRATEGY GROUP Contents of the Financial Statements for the ear ended 31 March 2024 Page Reference and Administrative Details Report of the Trustees Independent Examiner's Report io Statement of Financial Activities li Balance Sheet 12 Cash Flow Statement 13 Notes to the Cash Flow Statement 14 Notes to the Financial Statements 15 to 22
LONGBRIDGE CHILDCARE STRATEGY GROUP Reference and Administrative Details for the ear ended 31 March 2024 Trustees S Murray M Short (Chairl C J Atterbury (appointed 24110120231 L Haines Ire5igned 216120231 G J Handley Iresigned 518120231 M Naidoo (resigned 1917120231 C M West (resigned 23110120231 L Williams (appointed 17111120231 R L Collins lappointed 417120241 Registered offi Hollymoor Centre 8 Manor Park Grove Northfield Birmingham West Midlands 8315ER Registered company number 03719730 (England and Wales) Registered charity number 1081699 Independent examiner Cooper Parry Advisory Limited CUBO Birmingham 4th Floor Two Chamberlain Square Birmingham West Midlands B3 3AX Page I
LONGBRIDGE CHILDCARE STRATEGY GROUP REGISTERED NUMBER= 03719730 Re for the ort of the Trustees ear ended 31 March 2024 The Trustees, who are a150 Director5 of the Charity for the purposes of the Companie5 Act 2006. present their report with the financial statement5 of the charity for the year ended 31 March 202. The Trustees have adopted the provisions of Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151. Structurei governance and management Longbridge Childcare Strategy Group is a company limited by guarantee (company number 037197301 which was incorporated on 25 February 1999 and achieved charitable status on 21 July 2000 (number 10816991. It is governed by its Memorandum and Articles of Association dated 25 February 1999, as amended by special resolution on 13 December 1999. The Trustees who held office during the year and to the date of this report are as follows= S Murray M Short C West G Handley M Naidoo L Haines L Williams C J Atterbury R L Collins Appointed 02 December 2021 Appointed 02 December 2021 Appointed 28 July 2022 Appointed 09 January 2023 Appointed 18 January 2023 Appointed 16 January 2023 Appointed 17 November 2023 Appointed 24 October 2023 Appointed 4 July 2024 Resigned 23 October 2023 Resigned 05 August 2023 Resigned 19 July 2023 Resigned 02 June 2023 Page 2
LONGBRIDGE CHILDCARE STRATEGY GROUP REGISTERED NUMBER= 03719730 Re for the ort of the Trustees ear ended 31 March 2024 Objectives and artivities Objectives and aims Recruitment and appointment of new Trustees Recruitment of Trustees has been particularly successful this year and we have recruited three additional board members from a variety of professional background5 to reflect the need5 of the charrty. Having secured additional board members. The current Trustees are full time professionals, some of whom have experience within the childcare field. We continually encourage parents and individuals to become members of the committee, specifying the roles and responsibilities required for the provision. This is undertaken via an interview with the panel, committing to a minimum of four meetings per year and completing a DBS check. Principal activity The principal activity of the company continues to be the provision of quality, affordable childcare facilities and training for those supplying care services. The welfare and development of the children is paramount within all of our activities, particularly at this time. Longbridge Childcare Strategy Group is a charity established in 1991. to be effective in Birmingham with particular reference to the Longbridge Area and its environs (the Area of Benefit). "To advance the education and development of young children within Longbridge in particular by the provision of a comprehensive childcare setvice offering facilities for safe and satisfying play and to provide or to arrange for the provision of such ancillary facilities and activities which are considered necessary or desirable for the fulfilment of the objects. The Charity includes the following powers exercisable in furtherance of the said Objects, but not otherwise- To advance, whether by training or otherwise, the knowledge and professional skills of those resident in the Area of Benefit and concerned with the provision of childcare. To provide practical help within the Centre services, rncludinL advice, assistance, service, support, advocacy and information to meet the needs of those caring for children and to liaise with external bodies concerned with the matters of childcare. To promote, provide and carry on or assist in the promotion. provision and carrying on of facilities of any kind pursuant to the objects and to arrange and hold meetings, conferences and lettures. Activities April 2023- March 2024 2023 2024 has been an eventful year for Longbridge Childcare StrateEy Group, continuing our dedication to providing high-quality child care and support for vulnerable children and their families in the South of Birmingham. This report reflects the achievements, challenges, and milestones over the past year, as we continue to work towards creating a nurturing and safe environment for every child in our care. Our mission at Longbridge Childcare Strategy Group is to put 'Children First. by ensuring that every child has access to affordable, high-quality childcare, and to support their development emotionally. 50cially. and academically. At our 3 childcare settings Alphabets @ Hollymoor. Alphabets @ Hollyhill and Alphabets @ Cofton. we envision a world where every child. regardless of background, can grow in a caring and supportive environment that fosters their full potential. Alphabets @ Holly Hill Nursery has a Good grade from Ofsted. The nursery is due to move into the main Frankley Plus Children's Centre building in April 2024 to continue being able to provide a stable and secure environmer)t for the children and families in the area. Following the lease agreement with our current building not being renewed. Alphabets @ Cofton has a Good grade from Ofsted. This provision is an Out of School club and Pre-school. Providing before and after school care and holiday playscheme services which has continued to be popular with children and families attending the adjoining primary school. Alphabets @ Hollymoor gained a Good grade from Ofsted. continues to operate in the Hollymoor Centre. Working in partnership with other childcare professionals and the local children's centres, to meet each child's individual needs. Key Achievements in 2023- 2024 Growth in Reach: This year, we expanded our reach to serve more children and families than in previous years. Page 3
LONGBRIDGE CHILDCARE STRATEGY GROUP REGISTERED NUMBER= 03719730 Re for the ort of the Trustees ear ended 31 March 2024 Early Childhood Oeveloprnent: The children that left our settings in July 2023 to go on to Primary Schools made positive Steps towards Securing the Early Years Foundation Stage early learning goals. Our children showed improved cognitive and social skills, preparing them for a strong start in school. Training: We provided training for our staff team. This included First Aid. Safeguardin& Food Safety, Apprenticeship Schemes supporting 5 new workers into the childcare workforce. Nutritional Programs: With support of the Winter Food Aid, we ensured that 100% of the children using our childcare services received nutritious snacks and meals, contributing to better health and well-being. A series of food hampers were also sent with the parents I carers to help support the continual issue of low income families and the continual struggle of child poverty. Support for Children with Special Educational Needs= Our settings identified a significant amount of children within our care as having additional needs. These children were supported with a host of interventions to help them navigate their early years experiences. This included targeted small group or 1-2-1 sessions to support listening and attention, speech and language development, behaviour management strategies and emotional wellbeing. These interventions were able to be implemented by the successful attainment of ISEY funding. This yea r we have had several successful ISEY funding claims. Partnerships.. We continue to partner with Cofton Primary School to offer breakfast club and after school club care to 45 children per week. We also continue to partner with Holly Hill School to provide breakfast club provision to 10 children per morning. We also worked in conjunction to provide a wrap around service to the children that attended Holly Hill nursery. Restructuring of Management: In August 2023 the Project Manager's job role changed with a focu5 on bid writing becoming their primary focus and developing into a fully remote position. The Finance & Operations Manager's role was tailored to her specific areas of expertise and focusing on the development of the Hollymoor Centre within the local community, as a hub for community projects. In November 2023 the recruitment of the Area Manager took place in which their role would be to oversee the day to day running of the childcare settings sUPPOrting the setting based Managers. Challenges and Learnings Funding Constraints The children that attend our settings are primarily funded by the Early Education Funding entitlement which was increased, but unfortunately not at the rate in which the National Minimum Wage was increase(l. Therefore this prompted us to strengthen our fundraising strategies and strengthen the need to call on the expertise of the projett manager as the bid writer. Staffing Shortages The childcare sector still continues to face staff shortages. To help counteract this we have worked in partnerships with local colleges to provide their students with quality placements and therefore in turn helping us to recruit more qualified staff. Impact of Econornic Conditions Inflation and increased living cost5 affected both our families and operational expenses. Future Goals Expansion Plans Now with the expansion of the Early Education Entitlement ft)r 9 month old funding coming into place from September 2024, we are going to expand by opening a new baby room within Alphabets @ Hollymoor nursery. aiming to increase the number of children we currently care for by another 6 places being created. Extend the age range that can be cared for at Alphabets @ Cofton to incorporate being able to look after children from the age of 2 years. Implementation of a nursery management app to help streamline processes within the nurseries. Strengthening Partnerships Build stronger relationships with local businesses and schools encouraging the usage of our nurseries by its stakeholders and their linked parents I carers. Continue to engage the community with fundraising events and volunteer opportunities. Page 4
LONGBRIDGE CHILDCARE STRATEGY GROUP REGISTERED NUMBER= 03719730 Re for the ort of the Trustees ear ended 31 March 2024 Central Office - Negotiations regarding the Lease for the building were unresolved during this period and will now continue a5 a priority for the next year. The condition of the building remains stable. LCSG has continued to cornplete emergency repairs as and when neede d. The centre has continued to See an increased uptake in communwty events to include crafts.exercise classes. meeting place for the over 50,5 and a space for new mothers. We have identified the need for further grants and bids to maintain the building in regard to the roof, heating and promoting a more eneigy efficient centre. We will be prioritising these actions over the next 2 years. Management The Board continued to work with staff throughout the year to investigate potential changes which could benefit the organisation. Through consultation, priority was placed on building a larger Board which reflects the community and holds specialisms which can support the development and growth of LCSG. LCSG Priorities for this year were,. To monitor and evaluate the services we provide on a regular basis in order to maximise the benefits we provide to the individual children and young people in our care. their families and the local community. To develop a whole family approach identifying services and funding opportunities which will support the needs of the community. To maintain the 'Good' quality of childcare services as graded by Ofsted. To market LCSG services widely across the local areas. To monitor Running Costs and FUndin1ncorne opportunities to maintain sustainability. To improve and upgrade our IT facilities and online presence. Offer training and support for the team based on their This Report has shown that we continue to maintain quality services and sUPPOrt children and families. We also worked in partnership with other organisations and the Local Authority- The organisation continues to move forward optimistically with plans for future growth and development. Public benefit statement The Trustees confirm that they have complied with the duty in section 4 of the Charrties Act 2011 to have due regard to the Charity Commission's general guidance on public benefit. 'Charities and Public Benefit,. Page 5
LONGBRIDGE CHILDCARE STRATEGY GROUP REGISTERED NUMBER= 03719730 Re for the ort of the Trustees ear ended 31 March 2024 Objectives and artivities Social Impact Report April 2023- Marth 2024 During this year LCSG has provided quality childcare and family support for families including disadvantaged children needing special educational needs and safeguarding support. young adults. women. men. senior members of the community and single parent5. Acces5 to these services ha5 been a powerful tool in addressing the effects from social disadvantage brought about by poor housing and living in areas of poverty. We continue to work with those in our community who are isolated and vulnerable,. this is typically those on the lowest incomes. By offering welfare support to the most irb need, quality childcare and family support has enabled individuals to access work or training courses, increase their hours or take on new opportunities. This has helped them to move out of poverty, improve their lives and enhance their children's long-term life chances. LCSG have been active in Birmingham with a primary focus on Northfield West Heath and Frankly Great Park which the Birmingham Indices of deprivation 2019 ranked as among the IO% most deprived areas nationally. The wards are faced with a growing number of families living in poverty due to the cost-of-living crisis. We engage with these hard-to-reach families and individuals offering a fun, safe but stimulating environment along with a programme of activities designed to foster a sense of community and wellbeing. LCSG has given extra social support to over 320 local families throughout the year. Our records show that 79% of the children attracted Pupil Premium and or Deprivation funding this rises to 90% in Frankley. 913 people have accessed 5UPPOrt through our community centre and out of term social activities and projects. 11,268 people each year face to face in totall Birmingham City Council continues to recognise the centre as a 'warm welcome, venue. In addition to this we have provided hampers and support packs which include online support to 4,000 families receiving benefit SUPPOrt or have additional need5. LCSG continues to assess and support the children who come into our care. Communication remains a major concern especially for children who have English as an additional language. Using communication assessment Strategies and too15 we work in partnership with the parents to identify the child's communication needs and put an early intetvention plan into place. This is a service made available for every child. The children and young people we have supported for the last 2 years have included those who have experienced trauma (they may be having counselling or play therapyl. Children and young people with a Health Care Action Plan. Looked after children and young people. Children. and young people from prisoner families. Children and young people with parents/carer or a sibling who suffers from health problems or a disability which impact on the child's quality of life. (This can include mental health), children and young people wrth parents/carers who are rehabilitating from an addiction. The numbers of children with extended needs ISENDI have dramatically increased. The areas of concern include difficulties hearing, mild to moderate learning disability, developmental disability i.e., autism or autism spectrum disorder. Parents are increasingly asking for support in managing their child's behaviour. LCSG employs thirty employees on a range of employment contracts which include full time, part time and term time only. We work in partnership with the Birmingham Playcare Network IBPCNI who run a scrap store from our centre which recycles donations from individuals and businesses throughout Birmingham they employ eight part-time staff and fifty volunteers. BPCN also facilitates short courses and projects from the Hollymoor Centre. These projects are aimed at addressing a social need which brings in vulnerable people. They hold a biweekly craft group for people over 50 years old and a mother and baby club supporting young mums. Four hundred people visit Scrapstore each month 4,800 each year. We have a scout Eroup and a dance academy group. We also have a school onsite called Flexible Learning which is for children who find attending mainstream education a challenge. Each of the occupants of the Hollymoor Centre refer individuals and groups to LCSG. We work together to offer the best help and support. In total over 12.342 people in the community benefited from our combined service5. This partnership ha5 enhanced our connection wwth families in the local community and strengthened the support we are able to give, we have found that we are able to attract a larger number of families who would have been harder to reach out to. By bringing them into our community we Can work in partnership with other professionals and services to make a real change to their lives. An example of the professiona15 we work with are Health Viswtors. Social Workers. Police. Health Care Professionals. teachers, and housing organisations. We a150 work in partnership with the Children's Centre5. Special Educational Needs co-ordinators and Speech and Language Therapist5. In addition. we support parents back into training by providing flexible childcare package5 in partnership with the colleges. LCSG employees are childcare practitioners who are experienced in connecting with and supporting people who are vulnerable and who often find it hard to trust anybody. Forming a partnership with them in support of their children helps to build a bond of trust. The parents/carers are grateful to have the opportunity to talk their problems through with the child's key person. The key person will then signpost them or help them find the help available. The key people have an extensive training program available to them which includes training in managing trauma, mental health first aid, drug and alcohol rehabilitation, domestic violence, and a range of safeguarding courses. This is to provide the socially supported families with the highest quality of care and advice available. Page 6
LONGBRIDGE CHILDCARE STRATEGY GROUP REGISTERED NUMBER= 03719730 Re for the ort of the Trustees ear ended 31 March 2024 Objectives and artivities During the summer LCSG were able to capitalise on the new team of Playworkers who were employed last year. This included the development of a team of seven young adults aged between 16 to 18 year5 old who were very enthusiastic and committed to providing a summer scheme full of fun and friendship for the young children in their care. These young people gained valuable work experience, made new friends, and had a valuable experience of employment and managing their own money. Safeguarding and promoting the welfare of children remain to be an integral factor in all LCSG'S management procedures. This commitment is deeply embedded in the general ethos of LCSG who aim to continue to foster a culture of vigilance and care. The number of qualified Designated Safeguarding Leads has increased to give the team the skills and confidence to act appropriately and with confidence when they need to. LCSG'S induction pack has also been revised to strengthen new employee's knowledge and understanding of what is expected from them as a member of the team. The members of the group have all continued to adhere to government guidelines but share this responsibility as a team. The care and wellbeing of individuals remains our top priority. Page 7
LONGBRIDGE CHILDCARE STRATEGY GROUP REGISTERED NUMBER= 03719730 Re for the ort of the Trustees ear ended 31 March 2024 Financial review Financial position The financial review of the year to 31st March 2024 shows the charity has faced challenges. as in the previous year, it's been somewhat of a concern for the industry as a whole. Due to the Early Years recruitment crisis we have found it increasingly difficult to recruit in order to expand on numbers. Our focus was to increase uptake within each of the settings, to plan an attrartive advertising strategy in order for the Centre to become more known and to alleviate any financial strains that were not needed within the charity. This has been somewhat successfLJI, we have seen a significant increase at Alphabets@Cofton. The managers are using a variety of methods in order to attract new clients and the centre is receiving more traction. FLJnded rates provided by the Government have always been significantly lower than needed, however consultations during this year provided positive news that the age in which children receive funding would be lowered, hours extended to 30 and a rise in the funding rates. This will have a positive impact on the 24125 accounts. DLJring this time, we looked at ways in which we could save money in all areas. as some employees moved on to new ventures. roles were able to be dissolved amongst the team. Managers were given more insight into budgets and more training was provided, this helped to identify trigger points within the budgets and where money was being spent. Increased costs with the food and utilities have been the biggest challenge and managers have been encouraged to research cheaper alternatives. At the Directors meeting in February 2023 a 2% wage rise was agreed for deputy managers and managers, with a IYD increase for all other roles however this did not include the 5.8% increase due to the NMW rises. EEE Funding rates were again released late into the month. The formula had been written for the next 3 financial years which would be looked at every 12 months. This has since been reviewed to incorporate the new childcare options from 9 months old. After the success we had previously had with the HAF programme and the uptake for childcare provision out of term on a downturn, It was decided that if possible to attract new opportunities and bids in regard to offering a completely free service, to not only allow us to keep in consistent contart with our vulnerable families but to also take the strain financially off our service user5. A National grid bid was granted at £8852 and a Winter food aid grant of £5000 where we were able to provide exciting opportunitie5 for the families in the local area to come together and for us to provide a safe, warm and welcoming environment, We were able to provide a food parcel for each family registered wtth us to include a healthy balanced meal and recipe ideas. This supported the children's welfare out of term when the families were facing the most challenging times due to the cost of The HAF Programme continued throughout 23124 for 24 sessions over the academic year,this is now offered in all 3 settings bringing in over £19,000 of support for our most vulnerable children. We continued to operate within our aims of trainin& and we offered employees a chance to upskill within Early years leadership , with this the government gave an incentive payment of £800 per employee. We have continued to use The Hollymoor site in connection with BPCN for a series of group gatherings including Create and Craft fairs, group gatherings and trainin& generating more footfall to the area and subsequently more recognition in the area. This resulted in many of the rooms that were vacant being booked within the day which was another area we have tapped into to secure conslstent income into the charity. We are seeing a year on year growth within the centre income due to word of mouth from the service users. We will continue to advertise any gaps wwthin the day to ensure we have con51Stent bookings within the building. In conclusion the settings have shown a decreased uptake in paid childcare places with fees at all 3 sites lower than the previous year, however we have also seen an increase of funded support at all 3 swtes compared to the previous year. This is welcome news to the charity, however a5 we are governed by the rates and cannot charge top up fees we have very tight margins as we see more and more children accessing the funded support and not the paid services. key triggers are Still the out of core hours Ibefore 9am and after 3pm) We are hoping the introduction of the funded package to support working parent5 UP to 30 hours per week from September 2025 will alleviate these hours. Managers are now covering part5 of the ratio without the additional need to pay for staff. Managers have a clear understanding of the required number5 of children needed in order to break even per hour. This 15 set out each year at the AGM. We have also introduced a more robust system in order to attract more funding opportunities for the charity and now have a dedicated person to write and submit grants and bids to attract the additional income the charity needs. We have again seen an increase year on year in regard to increased salary costs. we also received more historical debts that were not previously reported in regard to ongoing negotiations with BCC about service charges. It is noted that the rent has significantly increased at 2 of the sites, with a payment plan set over the next 12 months for l of the sites. Our main concerns are the large year on year increases in National Minimum Wage. rising food and resources costs, rising utility costs to include internet and telephorbe, repayment of historical debts and preparing for the new government incentives of offering childcare options to children from the age of g months. Page 8
LONGBRIDGE CHILDCARE STRATEGY GROUP REGISTERED NUMBER= 03719730 Re for the ort of the Trustees ear ended 31 March 2024 Due to the recruitment crisis Wlthin the sector. it will be imperative to have an attractive package to recruit and retain employees within this new challenge we are about to face. Reserves policy Given the current net liabilities position. the reserves policy of the company is under review. The 5hort-term priority IS to eliminate the net liabilities. In the medium term, the trustees intend to agree a policy for maintaining unrestricted funds which will balance the group's day to day cash flow needs, while allowing for suitable investment in staff and resources which will benefit the group in the longer term. Funds in deficit The financial statements show a deficit in total funds of £79,800 as at 31 March 202412023- deficit of £57,548). Going concern The Trustees have considered a period of at least 12 months from the date of approval of these financial statements and consider that the charity will be able to continue to attract sufficient funding and manage its expenditure levels accordingly. The Group has access to a £10,000 overdraft facility that was renewed in December 2022 for a further 12 months. As such, the Trustees are content that the accounts can be prepared on the going concern basis. Structure* governance and management Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The Trustees, who are also Directors of the Charity for the purposes of the Companies Act 2006, present their report 21 November 2024 and signed on Its behalf by- M Short-Trustee Page 9
Inde endent Examiner'5 Re ort to the Trustees of Lon brid e Childcare Strate Grou Independent examiner'5 report to the trustee5 of Longbridge Childcare Strategy Group I'the Company'l I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basis of report As the charity'5 trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfied myself that the accounts of the CoTnpany are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respert of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145151 Ibl of the 2011 Act. Independent examiner's ststement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l 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 Sertion 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 Art 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 IFRS 10211- I have no concerns and have come acros5 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. James Howard ACCA The Institute of Chartered Accountants in England and Wales Cooper Parry Advisory Limited CUBO Birmingham 4th Floor Two Chamberlain Square Birmingham West Midlands B3 3AX 21 November 2024 Page 10
LONGBRIDGE CHILDCARE STRATEGY GROUP Statement of Financial Activities for the ear ended 31 March 2024 2024 Total fund5 2023 Total funds Unrestricted fund Restricted fund Notes Income and endowments from Donations and legacies 15 15 16 Charitable activities Charitable activities 533,504 533,504 477,064 Total 533,504 15 533.519 477,080 Expenditure on Charitable activities Charitable activities 181 396,740 19,702 8,670 47,917 306 8,733 4,318 11,173 481 Wages and National Insurance Consumables and staff expenses Repairs, research and maintenance Rent, rates, heat and light Bank and professional charges Telephone, stationery & advertising Sundry expenses Other grant expenditure Motor Vehicles Expenses 420,398 22,858 420,398 22,858 64,774 978 9,593 64,774 978 9,593 3,482 20,269 174 20,269 174 Other 4.726 15 4.741 4,723 Total 555.756 15 555.771 502,944 NET INCOMEIIEXPENDITUREI 122.2521 {22.2521 125,8641 Reconciliation of funds Total funds brought forward 159.1331 1.585 {57.5481 131,6841 Total funds carried forward 181.3851 1.585 {79.8001 157,5481 Continuing operations All income and expenditure has arisen from continuing activities. The notes form part of these financial statements Page 11
LONGBRIDGE CHILDCARE STRATEGY GROUP REGISTERED NUMBER= 03719730 Balance Sheet 31 March 2024 2024 Total fund5 2023 Total funds Unrestricted fund Restricted fund Notes Fixed assets Tangible a55ets io 12.854 12.854 15,774 Current assets Debtors Cash at bank and in hand li 6,620 17,721 6.620 19,306 5,411 28,881 1,585 24,341 1,585 25,926 34,292 Creditors Amounts falling due within one year 12 {1.580} 1118,5801 1107,6141 Net current assetsllliabilities) 194,2391 1,585 {92,6541 173,3221 Total assets less current liabilities 181,3851 1,585 {79,8001 157,5481 NET ASSETSIILIABILITIESI 181,3851 1,585 {79,8001 157,5481 Funds Unrestricted funds Restricted funds 13 181,385} 1,585 159,1331 1,585 Total funds 179.8(X)I 157,5481 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for lal ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and 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 wt5 surplus or deficit for each financial year in accordance with the requirements of Sectlons 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. Ibl 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 21 November 2024 and were signed on it5 behalf by= M Short-Trustee The notes form part of these financial statements Page 12
LONGBRIDGE CHILDCARE STRATEGY GROUP Cash Flow Statement for the ear ended 31 March 2024 2024 2023 Notes Cash flows from operating artivities Cash generated from operations 17.7551 3,462 Net cash (used inl/provided by operating activities 17,7551 3,462 Cash flows from investing activities Purchase of tangible fixed assets 110201 11,7031 Net cash used in investing activities 110201 11,7031 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 19.5751 1,759 28,881 27,122 Cash and cash equivalents at the end of the reporting period 19,306 28,881 The notes form part of these financial statements Page 13
LONGBRIDGE CHILDCARE STRATEGY GROUP Notes to the Cash Flow Statement for the ear ended 31 March 2024 Reconciliation of net expenditure to net cash fli)w frorn operating activities 2024 2023 Net expenditure for the reporting period las per the Ststernent of Financial Activities) Adjustments for: Depreciation charges Increase in debtors Increase in creditors 122.2521 125.8641 4,740 11.2091 10.966 4,723 11,6411 26,244 Net cash (used inllprovided by operations 17,7551 3,462 Analysis of changes in net funds At 114123 Cash flow At 3113124 Net cash Cash at bank and in hand 28A81 19,5751 19,306 28WI {9,5751 19,306 Total 281 {9,5751 19,306 The notes form part of these financial statements Page 14
LONGBRIDGE CHILDCARE STRATEGY GROUP Notes to the Financial Statements for the ear ended 31 March 2024 Accounting policies Basis of preparing the financial staternents 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 IFRS 1021 'Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffertive l January 20151,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. the Charities Act 2011 and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Going concern The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the academy trust to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of authorisation for issue of the financial statements. The financial statements have been prepared on a going concern basis. The trustees have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. Income All income 15 recognised in the Statement of Financial Artivities 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 the 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. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. Charitable artivities Costs of charitable activities are incurred on the charity's childcare operations, including support costs and costs relating to the governance of the charity apportioned to charitable attivities. Tangible fixed assets All fixed assets are initially recognised at cost. Depreciation Depreciation of fixed assets is calculated to write off their cost of valuation less any residual value over their estimated useful lives as follows: Improvements to leasehold property Office equipment Fixture and fitting5 Computer equipment 20% p.a. straight line basis 15% p.a. reducing balance 25% p.a. reducing balance 25% p.a. reducing balance Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Page 15 continued...
LONGBRIDGE CHILDCARE STRATEGY GROUP Notes to the Financial Statement5- continued for the ear ended 31 March 2024 Accounting policies- continued Fund accounting Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purpose. The c05t of raising and administering such funds are charged against the specific fund. The aim and use of each restrirted fund is set out in the notes to the financial statements. Hire purchase and leasing commitments Assets obtained under hire purchase contrarts or finance leases are capitalised in the Balance Sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Artivities in the period to which they relate. Debtors and creditors receivablelpayable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Donations and legacies Grants ReiVed 2024 2023 Restricted Bournville College 18 18 Unrestrirted Total 18 Income from charitable activities Charitable artivitie5 2024 2023 Childcare services Centre income Nursery fees- government funded Government support grants 58.274 470.027 5,200 62,060 408,939 6,063 533.501 477,062 Page 16 continued...
LONGBRIDGE CHILDCARE STRATEGY GROUP Notes to the Financial Statement5- continued for the ear ended 31 March 2024 Resources expended 2024 2023 Unrestricted fund Restricted fund Unrestricted fund Restricted fund Wages and national insurance Accountancy and independent examination Bank and professional charges Consumables and staff expenses Insurance Depreciation Pensions Rent, rates, heat and light Repairs, research and maintenance Telephone, stationary and advertising Bad debt write off 413,593 6,193 318 34.027 9.139 4.726 6,805 64,774 6,588 9.593 396,740 2.486 306 21,040 8,210 1,285 6,358 47,917 8,851 8,733 1,000 15 18 555,756 15 502,926 18 Support costs Governance costs Finance Totals Bank and professional charges Other grant expenditure 318 660 5,533 978 5,533 318 6.193 6.511 Net incomellexpenditurel Net incomellexpenditurel is stated after charginyJlcreditingl- 2024 2023 Independent examiners, fees Depreciation - owned assets 5,533 4,740 4,723 1,303 Trustees. remuneration and bener There were no tru5tee5' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees. expenses There were no trustees expenses paid in the year Page 17 continued...
LONGBRIDGE CHILDCARE STRATEGY GROUP Notes to the Financial Statement5- continued for the ear ended 31 March 2024 Staff costs 2024 2023 Wages and salaries Other pension costs 413.593 6.805 390,382 6,358 420.398 396,740 The average monthly number of employees during the year was as follows= 2024 2023 30 Administrative staff No employees received emoluments in excess of £60,0(M). Comparatives for the statement of financial activities Unrestricted fund Restrirted fund Total funds Income and endowments from Donations and legacies 121 18 16 Charitable artivities Charitable activities 477,064 477,064 Total 477,062 18 477,080 Expenditure on Charitable artivities Charitable activities 181 396,740 19,702 8,670 47,917 306 8.733 4.318 11.173 181 396,740 19,702 8,670 47,917 306 8,733 4,318 11,173 481 Wages and National Insurance Consumables and staff expenses Repairs, research and maintenance Rent, rates, heat and light Bank and profe55ional charges Telephone. stationery & advertising Sundry expenses Other grant expenditure Motor Vehicles Expenses Other 4,705 18 4,723 Total 502.926 18 502,944 NET INCOMEI(EXPENDITURE) 125.8641 125.8641 Reconciliation of funds Total funds brought forward 133,2691 1,585 131,6841 Total funds carried forward 159.1331 1,585 157,5481 Page 18 continued...
LONGBRIDGE CHILDCARE STRATEGY GROUP Notes to the Financial Statement5- continued for the ear ended 31 March 2024 io. Tangible fixed assets Fixtures and fttings Improvements to property Plant and machinery Computer equipment Totals Cost At l April 2023 Additions 120,994 21W8 1,135 57,132 17,875 217,899 1,820 At 31 March 2024 120,994 23,033 57,132 18,560 219,719 Depreciation At l April 2023 Charge for year 110.734 3,420 18,486 56,954 15.951 594 202.125 4,740 At 31 March 2024 114,154 19,168 56,998 16,545 206,865 Net book value At 31 March 2024 3A65 134 2,015 12,854 At 31 March 2023 10,260 3,412 178 1,924 15,774 Fixed assets, included in the above, which are held under hire purchase contrarts or finance leases are as follows: Improvements to property At l April 2023 and 31 March 2024 38.825 Depreciation At l April 2023 Charge for year 28.565 3A20 At 31 March 2024 31.985 Net book value At 31 March 2024 6.840 At 31 March 2023 10,260 ii. Debtor5: arnounts falling due within one year 2024 2023 Trade debtors 6.620 5,411 Page 19 continued...
LONGBRIDGE CHILDCARE STRATEGY GROUP Notes to the Financial Statement5- continued for the ear ended 31 March 2024 12. Creditors: amounts falling due within one year 2024 2023 Trade creditors Social security and other taxes Other creditors Deferred income Accrued expenses 9.826 60.074 11.024 114 37.542 5,103 54,741 11,000 129 36,641 118,580 107,614 13. Movement in funds Net movement in funds At V4123 At 3113124 Unrestrirted funds General fund 159,1331 122,2521 181,3851 Restricted fvnds Restricted general fund 1.585 1,585 TOTAL FUNDS 157,5481 122,2521 I7900) Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrirted funds General fund 533.504 1555.7561 122.2521 Restricted funds Restrirted general fund 15 1151 TOTAL FUNDS 533.519 1555.7711 122.2521 Comparatives for movement in funds Net rnovement in funds At 114122 At 3113123 Unrestrirted funds General fund 133.2691 125.8641 159,1331 Restricted fund5 Restricted general fund 1,585 1,585 TOTAL FUNDS 131,6841 125,8641 157,5481 Page 20 continued...
LONGBRIDGE CHILDCARE STRATEGY GROUP Notes to the Financial Statement5- continued for the ear ended 31 March 2024 13. Movernent in funds- continued Comparative net movement in funds. included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestritted funds General fund 477,062 1502,9261 125,8641 Restricted funds Restricted general fund 18 1181 TOTAL FUNDS 477,080 1502,9441 125,8641 A current year 12 months and prior year 12 months combined posltion is as follows: Net movement in funds At 114122 At 3113124 Unrestrirted funds General fund 133,2691 148,1161 181,3851 Restricted funds Restricted general fund 1.585 1,585 TOTAL FUNDS 131,6841 148,1161 179,8001 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows- Incoming resources Resources expended Movement in funds Unrestrirted funds General fund 1,010,566 11,058,682) 148,1161 Restricted fund5 Restricted general fund 33 1331 TOTAL FUNDS 1.010,599 11.058.715) 148,1161 Page 21 continued...
LONGBRIDGE CHILDCARE STRATEGY GROUP Notes to the Financial Statement5- continued for the ear ended 31 March 2024 14. Related party disclosures During the year ended 31 March 2018 the trustees loaned £9.000 to the company. this remains within other creditors as at 31 March 2024. There were no Trustee's expenses paid in the year15hown in note 61 and no other related party transactions occured for the year ended 31 March 2024. There were no Trustee's expenses paid for the year ended 31 March 2024. Key management personnel consists of the trustees only, whose remuneration is shown within note 6. 15. Ultimate controlling party The charity was under the control of the Board of Trustees in the current and previous year. 16. Share capital The company is limited by guarantee of its members and does not have any share capital. In the event the company is wound up, the members who are also the trustees, have a liability in respect of the guarantee, limited to £1 per member. Page 22