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2024-03-31-accounts

Charity registration number 1083895

Company registration number 04060959 (England and Wales)

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Ms C Thurgood Mr R J Parker Mr H R Jenkins

Secretary Mrs R Khalid Charity number 1083895 Company number 04060959 Registered office 108 Battersea High Street London SW11 3HP Auditor Kirk Rice LLP Zeeta House 200 Upper Richmond Road Putney London United Kingdom SW15 2SH

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

CONTENTS

Page
Chairman's statement 1
Trustees' report 2 - 6
Statement of trustees' responsibilities 7
Independent auditor's report 8 - 10
Consolidated statement of financial activities 11
Charity and consolidated balance sheets 12 - 13
Consolidated statement of cash flows 14
Notes to the financial statements 15 - 28

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

CHAIRMAN'S STATEMENT

FOR THE YEAR ENDED 31 MARCH 2024

This financial year, we have effectively maintained our budgets by closely monitoring our expenditures consistently throughout the year. Financial reviews are conducted regularly during full Executive Committee meetings. This process allows for informed and structured discussions and decisions. As mentioned previously, our charity employs a financial software called Xero, which is crucial given the scale of our financial operations. We have implemented an effective reporting system that enhances our financial oversight, and also making it easier to track and manage children's placement fees in a more systematic way.

Many of our centrally managed groups have done quite well, with some making more profit than others. We keep a close eye on each location to meet their needs effectively. We also help families financially by subsidising childcare fees for their children and giving discounts for siblings. This support is especially helpful for our settings in disadvantaged areas, allowing them to stay financially stable while providing quality childcare. As a result, we can continue to offer affordable childcare services in the community.

However, we have growing concerns about the government’s initiative for the schools to implement a national wraparound programme. This initiative has already had an adverse impact as schools are beginning to take over the management of out-of-school care provided by our charity on school premises. This shift threatens the financial stability of our operations and could undermine the quality and affordability of childcare services we offer. All centrally manged and member settings have received a good Ofsted outcome.

All centrally managed settings received a special resource grant (an internally allocated budget), which we aim to sustain in the coming years. We remain responsive to the needs of our member groups and the communities they serve, ensuring that our financial decisions do not impose a burden on the Association.

The charity is committed to staff welfare and well-being. It continues to work with Health Assured and intends to implement a staff wellbeing day soon. To stay competitive, staff wages are kept aligned with the marketing trend.

We anticipate that our trading arm, Childcare Answered, will continue to make a meaningful financial contribution to the charity, as it has in the past. Our goal is to explore additional avenues for generating income from this source to further support the charity's mission.

Mr H R Jenkins

Chairman

Date: 6 March 2025

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006 and "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).

Objectives and activities

The primary aims of Childcare and Business Consultancy Services ("CBCS") as defined in its Constitution are "to advance the education and development of children up to the age of 11 years by encouraging parents to understand and provide for the needs of their children through community groups by:

Financial Controls

The Association operates full internal financial controls in accordance with the guidance outlined by the Charity Commissioners in March 1996 in their publication “Internal Financial Controls for Charities” (Publication CC8).

Investment Powers and Restrictions

The Association has no special investment powers and no restrictions apply other than those contained within the Trustee Investment Act 1961.

Achievements and performance

Significant activities and achievements against objectives

During this year we have provided consultancy and payroll services to 4-member settings. We have provided full management service to the 8 centrally managed throughout the year. The level of support varies dependant on the needs of individual groups at any one time. Our advisory team are experienced in being able to determine the greatest need and directing their energies to support where it is most needed. All centrally managed settings have been given a special resource grant that we aim to keep in place moving forward.

We have achieved our objectives overall throughout the year by serving the member groups and the centrally managed groups.

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

In our commitment to charitable initiatives, we offer subsidised childcare places for eligible children enrolled in various centrally managed groups through our trading entity, Childcare Answered Limited. This initiative addresses the needs of families who may struggle to afford the full costs, ensuring that quality childcare options remain accessible to all. We have now established a more formal process for our settings to request full or partial funding for a child's placement. This enhancement enables CBCS to deliver more comprehensive information in our reporting.

We continue to ensure a high level of commitment to the safe recruitment of staff both in our centrally managed groups and also in the advice and support given to member groups in relation to this issue. We do not compromise on the safety of the children in our care, which means we apply stringent recruitment procedures to support this, both in our centrally managed groups and in the member groups that we work with.

Our recruitment process involves thorough vetting and background checks of candidates to ensure that those selected are fit and appropriate to work with children and young people. We conduct regular reviews of our employment policy to maintain high standards. Our goal is to ensure that both member groups and centrally managed teams have the required percentage of qualified staff as specified by EYFS and OFSTED, and we strive to exceed these standards whenever possible.

Additionally, we focus on achieving a balanced mix of experienced staff and younger team members to promote stability within each group. To tackle staffing shortages, we initially hire employees through our staffing agency, allowing them to remain there until their employment verifications are completed and they are offered permanent positions. Our newly redesigned main and mini websites are now live, and we are leveraging additional social media platforms to help address staffing and occupancy challenges. The charity has teamed up with Health Assured to offer specialized support for all employees concerning their mental health, overall well-being and additionally have plans to introduce a staff wellbeing day soon. To remain competitive, staff salaries within different roles are kept to match current market trends. CBCS has collaborated with the online training portal to address the continuous professional development needs of both permanent and temporary staff. Furthermore, we collaborate with external trainers and local government resources to provide essential training, including First Aid, Food Safety, and SGL. Additionally, we are working in close partnership with apprentice providers to enhance staff learning and development while also aligning with government initiatives. Currently, we have three apprentices undergoing training.

In the 2023-24 fiscal year, CBCS operates 4 Out of School Clubs (OSCs), offering limited holiday care services at one location, with plans to possibly expand soon.

CBCS works closely with the management of member groups and staff to ensure high-quality care is provided, along with tailored learning plans and opportunities for each child. The designated CEA offers support through inperson visits and phone consultations to ensure adherence to OFSTED, EYFS, and policy standards.

We maintain our excellent childcare services while keeping them affordable. All our settings are registered with OFSTED, serving children from 6 months to 11 years old. Our early years settings are eligible for government funding for children aged 9 months to 5 years, providing care for fifteen or thirty hours each week. To offer more tailored support for children in need, several early years settings have successfully obtained SEN grants. All centrally managed and member settings have received a good Ofsted outcome.

Our committed managers and central team collaborate effectively to support new employees, ensuring that all policies and procedures are properly implemented. We highlight the importance of adhering to established procedures and effective policies to meet OFSTED and other regulatory requirements. All pertinent policies undergo regular reviews and are updated as needed to comply with any statutory changes. Furthermore, the central team, in partnership with the IT consultant, are dedicated to improving cyber and online security, guaranteeing that our data protection strategies are strong enough to prevent any possible breaches.

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

We continue to support the ideal of working towards integrated services for children across the Borough of Wandsworth and surrounded areas through both member groups and centrally managed groups. Our Early Years settings offer Early Years funding places for children aged from 9 months to 5 years old children.

We're constantly searching for new methods to raise funds for the charity. The charity's trading arm, Childcare Answered, has supported the work of the organisation in the past by receiving donations for various projects, such as resource grants and towards childcare space subsidies for eligible families. Although the redevelopment of the CA website is still in progress, it is promoted on the main page of the charity's website. Additional social media platforms are being used to improve registration and attract new customers. The focused efforts of the central team members have resulted in an increase in CA recruitment recently, which will positively affect the charity's support. The plan to bring on a recruitment consultant is still in the plans, and it is anticipated that the post will be filled soon.

Childcare Answered was originally formed in June 2008 and aims to continue to develop its reputation as a provider of quality temporary staff. We regularly provide agency staff cover in most member groups and also at Children’s Centre crèche provisions in Wandsworth. We also service other local authority groups when crèche services are required. Our thanks to those Member Groups who have supported the work of Childcare Answered during these difficult times. The trading arm has contributed £55,220.51 towards the cost of operating the charity this year.

Financial review

The Group holds reserves totalling £506,311 split between restricted funds of £42,016 and unrestricted funds of £464,295. The results for the year and the charity’s financial position at the end of the year are shown in detail in the attached financial statements. These comply with current statutory requirements and the charity’s constitution.

Reserves policy

The Directors have examined the Charity’s requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (the free reserves) held by the charity should be 3 months of the resources expended within the central running costs of the organisation and in addition the full redundancy costs of the association central staff and staff in the centrally managed groups.

The consolidated reserves as at 31 March 2024 total £506,311 (31 March 2023: £554,091). The Directors recognise that the financial reserves are at an appropriate level for the charity's activities and will be monitored continuously.

Major risks

Risk Review

The Directors have conducted their own review of the major risks to which the charity is exposed, and systems have been established to mitigate those risks. External risks to funding have led to the development of a strategic plan, which will allow for the development of our Reserves Policy.

The structure of the Board is stable and lays down processes for the operation of the Charity. We believe that the wide range of experience of individuals on the Board lends itself to the effective operation of the Charity.

Structure, governance and management

Introduction

This has been another varied year of successful operation. We have continued to provide services to Groups who pay Consultancy charges. In addition, we operate a number of directly managed Groups who fall within the scope of CBC Services operation.

The trustees delegate day-to-day management of the charity to Chief Executive Officer Robina Khalid who is currently still in this position as at the date of signing the financial statements.

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Ms C Thurgood Mr G Stephen (Resigned 26 November 2024) Mr R J Parker Mr H R Jenkins

Recruitment and appointment of trustees

The Directors of the company are also charity trustees for the purposes of charity law. People interested in becoming Directors of CBC Services are nominated and seconded at the Trustees Meetings.

The structure of the Board changed during the year, as the Chair, Graeme Stephen resigned and was subsequently replaced post year end. The structure is typically stable and lays down processes for the operation of the Charity. We believe that the wide range of experience of individuals on the Board lends itself to the effective operation of the Charity.

The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

The company's current policy concerning the payment of trade creditors is to:

Trade creditors of the company at the year end were equivalent to 1.44 day's purchases, based on the average daily amount invoiced by suppliers during the year.

Qualifying third party indemnity provisions

Legal Status

The Charity is a company limited by guarantee, incorporated on 29th August 2000 and re-registered as a charity on 30th November 2000. The company operates under a revised Memorandum of Association, which established the objects and powers of the charitable company and is governed by its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

Organisational structure

CBCS currently manages seven groups directly. The financial accounts provided do not reflect the results of the member groups, as they operate independently. For the financial year ended 31[st] March 2024, there were nine groups under the central management of CBC Services. Effective 24[th] July, 2024, the management of Allfarthing OSC has been transitioned in-house by the school following the implementation of the national wrap-around program. Additionally, a small playgroup has ceased operations due to financial difficulties stemming from low enrolment, effective July 24, 2024. The staff from this facility have been reassigned to another group under the direct management of CBCS.

The financial outcomes of the centrally managed groups differ, but collectively, they contribute positively to the overall income of the Charity and will, in the long run, bolster its initiatives with member groups.

Relationship with wider network

Related parties

In so far as it is complimentary to the charity’s objects, the charity is guided by both local and national policy.

Auditor

In accordance with the company's articles, a resolution proposing that Kirk Rice LLP be reappointed as auditor of the company will be put at a General Meeting.

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Please note (CM) denotes centrally managed Groups.

PUTNEY

Ashburton Playgroup (Member setting) Fledglings Playgroup at St. Pauls (CM)

CENTRAL WANDSWORTH

Playhouse Playgroup (Member setting) Fledglings on the Commons (CM)

BATTERSEA

Ethelburga Early Years (Member setting) Fledglings Kindergarten (AYR childcare services are offered since April 2024) (CM)

BALHAM & TOOTING

Fledglings Early Years & Out of School Care (CM) Fledglings at Rookstone Road has discontinued its childcare services as of 24[th] July 2024, due to low occupancy.

HAMMERSMITH & FULHAM

Fledglings at the Palace Nursery (CM)

OUT OF SCHOOL CARE only

Penwortham Out of School Care (CM) Allfarthing Out of School Care (CM) Childcare services ceased because of the non-renewal of the hiring contract by the school as of 24[th] July 2024.

St Anne’s After School Care (CM)

The trustees' report was approved by the Board of Trustees.

Mr H R Jenkins

Trustee

6 March 2025

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2024

The trustees, who are also the directors of Childcare and Business Consultancy Services and Subsidiary for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

Opinion

We have audited the consolidated financial statements of Childcare and Business Consultancy Services (the 'charitable company') and its subsidiary (the 'group') for the year ended 31 March 2024 which comprise the consolidated statement of financial activities, the consolidated and charity balance sheet, the consolidated statement of cashflow and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the Charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder..

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Our audit approach was developed by obtaining an understanding of the charity’s activities, the key functions undertaken on behalf of the Board by management and by service organisations, and the overall control environment. Based on this understanding we assessed those aspects of the charity’s transactions and balances which were most likely to give rise to a material misstatement and were most susceptible to irregularities including fraud or error. Specifically, we identified what we considered to be key audit risks and planned our audit approach accordingly.

We gained an understanding of the legal and regulatory framework applicable to the charity and the industry in which it operates, and considered the risk of acts by the company which were contrary to applicable laws and regulations, including fraud. These included but were not limited to compliance with Companies Act 2006, Charities Act 2022, FRS 102, and regulations such as the Children Act 1989 and 2004 which affect the charity.

We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion.

We focused on laws and regulations that could give rise to a material misstatement in the charity financial statements. Our tests included, but were not limited to:

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. As in all of our audits we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

James Moody (Senior Statutory Auditor) for and on behalf of Kirk Rice LLP 6 March 2025

Statutory Auditor

Zeeta House 200 Upper Richmond Road Putney London United Kingdom SW15 2SH

Kirk Rice LLP is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
11,705
13,525
Other trading activities
4
2,128,388
-
Investments
5
7,813
-
Total income
2,147,906
13,525
Expenditure on:
Charitable activities
6
2,191,659
14,318
Other expenditure
12
3,234
-
Total expenditure
2,194,893
14,318
Net income/(expenditure) and
movement in funds
(46,987)
(793)
Reconciliation of funds:
Fund balances at 1 April 2023
511,282
42,809
Fund balances at 31 March
2024
464,295
42,016		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
25,230
29,184
28,757
2,128,388
1,717,822
-
7,813
1,876
-
2,161,431
1,748,882
28,757
2,205,977
1,712,841
13,981
3,234
3,224
-
2,209,211
1,716,065
13,981
(47,780)
32,817
14,776
554,091
478,465
28,033
506,311
511,282
42,809		 Total
2023
£
57,941
1,717,822
1,876
1,777,639
1,726,822
3,224
1,730,046
47,593
506,498
554,091

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

CHARITY AND CONSOLIDATED BALANCE SHEETS

AS AT 31 MARCH 2024

GROUP
2024
Notes
£
Fixed assets
Tangible assets
14
4,622
Investments
-
4,622
Current assets
Debtors
15
45,384
Cash at bank and in hand
615,367
660,751
Creditors: amounts falling due within
one year
16
(159,062)
Net current assets
501,689
Total assets less current liabilities
506,311
Net assets excluding pension liability
506,311
The funds of the Charity
Restricted income funds
19
42,016
Unrestricted funds
464,295
506,311		 GROUP
CHARITY
CHARITY
2023
2024
2023
£
£
£
3,834
2,529
3,834
-
4
4
3,834
2,533
3,838
54,430
38,155
68,854
587,302
581,741
537,003
641,732
619,896
605,857
(91,475)
(128,525)
(66,808)
550,257
491,371
539,049
554,091
493,904
542,887
554,091
493,904
542,887
42,809
42,016
42,809
511,282
451,888
500,078
554,091
493,904
542,887

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 charity.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

CHARITY AND CONSOLIDATED BALANCE SHEETS

AS AT 31 MARCH 2024

The financial statements were approved by the trustees on 6 March 2025

Mr H R Jenkins

Trustee

Company registration number 04060959 (England and Wales)

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash generated from operations
24
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash generated from/(used in)
investing activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
(2,927)
7,813		 £
23,179
4,886
-
28,065
587,302
615,367		 2023
£
(4,892)
1,876		 £
77,607
(3,016)
-
74,591
512,711
587,302

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Childcare and Business Consultancy Services and Subsidiary is a private company limited by guarantee incorporated in England and Wales. The registered office is 108 Battersea High Street, London, SW11 3HP.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment 25% on cost Fixtures and fittings 25% on cost Computers 33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
862
-
Other grants recieved
10,843
13,525
11,705
13,525		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
862
7,400
-
24,368
21,784
28,757
25,230
29,184
28,757		 Total
2023
£
7,400
50,541
57,941

4 Income from other trading activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
FNEP 206,262 230,442
PM Sessions 613 5,086
Parental fees 1,123,496 828,948
Community centre hire 858 558
Party income 1,200 1,115
Agency fees 21,318 25,088
Caras office hire 9,329 14,337
Caras community centre 2,288 4,985
Consultancy charges 9,682 -
BC/ASOC fees 705,648 563,656
Management fees 1,745 13,369
Wages reimbursed/Sundry income/Start up loan repayment: EDIT 14,100 7,108
Sundry income 18,757 16,300
Registration fees 8,793 5,400
Training income 4,300 1,430
Other trading activities 2,128,388 1,717,822
Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 7,813 1,876

5 Income from investments

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

6 Expenditure on charitable activities

Direct costs
Staff costs
Depreciation
and
impairment
Running
costs
Insurance
Telephone
Postage and
stationery
Advertising
Sundry
Training
Committee
expenses
Senif
Funding
Agency staff
Rent		 Central
2024
£
33,870
2,057
103,659
4,309
4,163
1,813
-
230
3,110
-
-
-
12,958
166,169		 St Pauls Penwortham
OSC
Fledglings
on the
common
Fledglings at
the palace
2024
2024
2024
2024
£
£
£
£
37,938
181,975
199,111
270,713
-
-
-
-
2,145
2,033
29,338
55,306
1,244
2,634
2,201
2,634
530
2,073
1,656
1,497
-
-
-
-
-
129
991
545
-
-
-
-
-
220
520
220
-
-
-
-
-
-
491
-
3,393
15,622
76,732
84,862
8,585
17,451
6,727
94,500
53,835
222,137
317,767
510,277		 St Annes
OSC
Fledglings
Tooting
Allfarthing
OSC
Fledglings
Kindergarte
n
Fledglings
at
Rookstone
Road
2024
2024
2024
2024
2024
£
£
£
£
£
39,149
357,719
138,514
8,249
30,161
-
-
-
82
-
12,582
47,151
928
2,568
1,653
1,797
3,066
2,633
1,071
1,241
539
4,820
530
1,430
530
-
761
-
-
-
30
1,093
-
268
-
-
100
-
4,770
-
110
1,040
-
-
110
-
-
-
-
-
-
13,827
-
-
-
8,714
43,503
3,715
374
-
1,689
14,617
5,625
-
4,550
64,610
487,697
151,945
18,812
38,245		 Total
2024
£
1,297,399
2,139
257,363
22,830
17,768
2,574
3,056
5,100
5,330
-
14,318
236,915
166,702
2,031,494		 Total
2023
£
975,986
1,999
240,340
14,077
15,670
1,273
2,939
7,552
2,695
(287)
14,268
101,241
158,286
1,536,039

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Expenditure on charitable
activities
Share of support and governance costs (see note 7)
Support
158,198
-
-
Governance
2,557
571
2,392
326,924
54,406
224,529		 -
2,014
319,781		 -
2,011
512,288		 -
596
65,206		 -
2,610
490,307		 -
2,392
154,337		 -
571
19,383		 -
571
38,816		 (Continued)
158,198
176,237
16,285
14,546
2,205,977
1,726,822		 (Continued)
158,198
176,237
16,285
14,546
2,205,977
1,726,822
1,726,822

6 Expenditure on charitable activities

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

7
Support costs allocated to activities
Staff costs
Governance costs
Analysed between:
Central
8
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets
9
Auditor's remuneration
Fees payable to the charity's auditor and associates:
For audit services
Audit of the financial statements of the charity		 2024
£
158,196
16,286
174,482
174,482
2024
£
6,824
2,139
2024
£
6,824		 2023
£
176,237
14,546
190,783
190,783
2023
£
4,021
1,999
2023
£
4,021

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

11 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
89 67

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

11
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2024
2023
£
£
1,330,018
1,051,236
77,482
55,756
34,809
45,231
1,442,309
1,152,223		 (Continued)
2024
2023
£
£
1,330,018
1,051,236
77,482
55,756
34,809
45,231
1,442,309
1,152,223
1,152,223

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

During the financial year, aggregate payments of £44,040 (2023: £40,404) were made to those considered to be key management personnel.

12 Other expenditure

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Financing costs 3,234 3,224

13 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

14
Tangible fixed assets
Plant and
equipment
Fixtures and
fittings
Computers
£
£
£
Cost
At 1 April 2023
101,050
471
19,844
Additions
-
1,701
1,226
At 31 March 2024
101,050
2,172
21,070
Depreciation and impairment
At 1 April 2023
100,885
471
16,175
Depreciation charged in the year
82
425
1,632
At 31 March 2024
100,967
896
17,807
Carrying amount
At 31 March 2024
83
1,276
3,263
At 31 March 2023
165
-
3,669		 Total
£
121,365
2,927
124,292
117,531
2,139
119,670
4,622
3,834

15 Debtors

Amounts falling due within one year:
Trade debtors
Amounts owed by subsidiary undertakings
Other debtors
Prepayments and accrued income
Creditors: amounts falling due within one year
Other taxation and social security
Deferred income
Trade creditors
Amounts owed to subsidiary undertakings
Other creditors
Accruals		 2024
GROUP
£
5,282
-
7,182
32,920
45,384
GROUP
2024
£
55,074
60,425
8,683
-
16,650
18,230
159,062		 2023
2024
2023
GROUP
CHARITY
CHARITY
£
£
£
30,277
4,487
29,201
-
-
18,489
1,625
1,625
1,625
22,528
32,043
19,539
54,430
38,155
68,854
GROUP
CHARITY
CHARITY
2023
2024
2023
£
£
£
29,886
14,945
14,316
35,606
60,425
29,724
14,253
8,310
14,253
-
21,804
-
4,770
8,611
4,555
6,960
14,430
3,960
91,475
128,525
66,808		 2023
2024
2023
GROUP
CHARITY
CHARITY
£
£
£
30,277
4,487
29,201
-
-
18,489
1,625
1,625
1,625
22,528
32,043
19,539
54,430
38,155
68,854
GROUP
CHARITY
CHARITY
2023
2024
2023
£
£
£
29,886
14,945
14,316
35,606
60,425
29,724
14,253
8,310
14,253
-
21,804
-
4,770
8,611
4,555
6,960
14,430
3,960
91,475
128,525
66,808
66,808

16 Creditors: amounts falling due within one year

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

17
Deferred income
2024
£
Other deferred income
60,425
Deferred income is included in the financial statements as follows:
2024
£
Deferred income is included within:
Current liabilities
60,425
Movements in the year:
Deferred income at 1 April 2023
35,606
Released from previous periods
(35,606)
Resources deferred in the year
60,425
Deferred income at 31 March 2024
60,425
Deferred income relates to FNEP grant income for the Spring term.
18
Retirement benefit schemes
2024
Defined contribution schemes
£
Charge to profit or loss in respect of defined contribution schemes
34,809		 2023
£
35,606
2023
£
35,606
-
-
35,606
35,606
2023
£
45,231

The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.

19 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April Incoming Resources At 31 March
2023 resources expended 2024
£ £ £ £
42,809 13,525 (14,318) 42,016

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

19 Restricted funds (Continued)
Previous year: At 1 April Incoming Resources At 31 March
2022 resources expended 2023
£ £ £ £
28,033 28,757 (13,981) 42,809

20 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

General funds
Previous year:
General funds
Analysis of net assets between funds
At 31 March 2024:
Tangible assets
Current assets/(liabilities)
At 31 March 2023:
Tangible assets
Current assets/(liabilities)		 At 1 April
2023
Incoming
resources
Resources
expended
At 31 March
2024
£
£
£
£
511,282
2,147,906
(2,194,893)
464,295
At 1 April
2022
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
£
478,465
1,748,882
(1,716,065)
511,282
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
4,622
-
4,622
459,673
42,016
501,689
464,295
42,016
506,311
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
3,834
-
3,834
507,448
42,809
550,257
511,282
42,809
554,091

21 Analysis of net assets between funds

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

22 Related party transactions

Consultancy fees of £9,132 (2023: £9,925) were received from Ethelburga Early Years Centre, a group setting of Childcare and Business Consultancy Services. At the year end, £5,557 (2023: £nil) was due from Ethelburga Early Years Centre.

Agency fees of £470,376 (2023 - £248,507) were paid to Childcare Answered Ltd for the provision of childcare services.

Childcare Answered Ltd is a 100% owned subsidiary of Childcare & Business Consultancy Services Ltd.

Childcare Answered Ltd has the registered office address of: 108 Battersea High Street, Battersea, London, SW11 3HP.

23 Subsidiaries

These financial statements are consolidated with the inclusion of the below subsidiary.

Details of the Charity's subsidiary at 31 March 2024 are as follows:

Name of undertaking and Registered Nature of business Class of % Held
company number
office shares held Direct Indirect
Childcare Answered Ltd - 108 Battersea Provision of childcare Ordinary 100.00
06549518 High Street,
Battersea,
Lonson, SW11
3HP

The aggregate capital and reserves and the result for the year of subsidiaries included in the consolidation was as follows:

Name of undertaking and Profit/(Loss) Capital and
company number Reserves
£ £
Childcare Answered Ltd -
06549518 1,204 12,411

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

24
Cash generated from operations
2024
£
(Deficit)/surpus for the year
(47,780)
Adjustments for:
Investment income recognised in statement of financial activities
(7,813)
Depreciation and impairment of tangible fixed assets
2,139
Movements in working capital:
Decrease/(increase) in debtors
9,046
Increase in creditors
42,768
Increase in deferred income
24,819
Cash generated from operations
23,179
25
Analysis of changes in net funds
The Charity had no material debt during the year.
26
Prior period adjustment
Changes to the balance sheet
At 31 March 2023
As previously
reported
Adjustment
As
£
£
Capital funds
Income funds
Restricted funds
42,809
-
Unrestricted funds
511,282
-
Total equity
554,091
-		 2023
£
47,593
(1,876)
1,999
(7,982)
2,267
35,606
77,607
restated
£
42,809
511,282
554,091

CHILDCARE AND BUSINESS CONSULTANCY SERVICES AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

26 Prior period adjustment (Continued) (Continued)
At 31 March 2023
As previously Adjustment As restated
reported
£ £ £
Changes to the profit and loss account
Period ended 31 March 2023
As previously Adjustment As restated
reported
£ £ £
Other trading activities 1,665,502 (178,122) 1,487,380
Charitable activities 1,904,944 (178,122) 1,726,822
Net movement in funds 47,593 - 47,593

Notes to reconciliation

Removal of management charges

A prior period adjustment has been recognised in order to correct a material misstatement in the comparative figures. The misstatement relates to the recognition of management charges between each setting which did not meet the definition of income under Section 23 of FRS102. As the management income has a corresponding charge to each setting, this has had no impact on the equity of the charity.