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2021-08-31-accounts

Registered number: 03902995 Charity number: 1084590

The Mulberry Bush (Coulsdon) Limited

(A company limited by guarantee)

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

The Mulberry Bush (Coulsdon) Limited

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Company, its Directors and advisers 1
Trustees’ report (incorporating a Directors' report) 2 – 6
Independent auditor's report 7 - 10
Statement of financial activities 11
Balance sheet 12
Notes to the financial statements 13 – 21

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS DIRECTORS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2021

Directors

Mrs J Jones Mr GJ Walker Mr P Rose Mr PJ Campbell

Company registration number

03902995

Charity registration number

1084590

Registered office

1 Kennington Road, London, SE1 7QP

Company secretary

D J Parr

Independent Auditor

Mercer & Hole 21 Lombard Street London EC3V 9AH

Page 1

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

TRUSTEES’ REPORT (INCORPORATING A DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2021

The Directors (who are also Trustees of the charity for the purposes of the Charities Act) present their annual report together with the audited financial statements of The Mulberry Bush (Coulsdon) Limited (the company) for the year ended 31 August 2021. The Directors confirm that the Annual report and financial statements of the company comply with the Companies Act 2006 and Charities Act 2011, the requirements of the company's governing document and the provisions of the Charities SORP 2019 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).

Structure, governance and management

a. CONSTITUTION

The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 6[th] January 2000 and is a registered charity number 1084590.

The principal objects of the Company are the advancement for the public benefit of education and health, the preservation and protection of public health generally, the relief of persons who are in need, hardship or distress and the prevention and relief of poverty.

The Directors confirm that they have paid due regard to the guidance contained in the Charity Commission’s general guidance on public benefit when setting the charity’s objectives and planning its activities.

b. METHOD OF APPOINTMENT OR ELECTION OF DIRECTORS

The management of the company is the responsibility of the Directors who are elected and co-opted under the terms of the Articles of Association. The appointment of new directors is at the discretion of the existing directors (and/or the Guarantor, Oasis Community Partnerships).

c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF DIRECTORS

Policies for the induction and training of new directors follow those of the ultimate parent, Oasis Charitable Trust.

d. ORGANISATIONAL STRUCTURE AND DECISION MAKING

The Mulberry Bush (Coulsdon) Limited, (the Company) is a company limited by guarantee, whose registered number is 03902995. It is also a registered charity, number 1084590. The Company is governed by a Memorandum and Articles of Association of 6th January 2000. The Company is controlled by the Directors who are also the Trustees. Oasis Community Partnerships is the founding member and guarantor. The Company does not have a share capital. Directors are appointed by a majority of other Directors or by the Guarantor. The Directors have delegated the day to day activity of the Company to the Hub Leader, but retain responsibility for major strategic and governance decision.

e. RISK MANAGEMENT AND GOING CONCERN

The Directors have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. Currently the Covid-19 pandemic is the largest risk to the organisation, however actions have been taken to mitigate this risk.

After reviewing detailed forecasts which take into account the impact of Covid-19 for the next 12 months, the Directors consider that The Mulberry Bush (Coulsdon) Limited has adequate resources to continue in operational existence for the foreseeable future and, for this reason, the Directors continue to adopt the going concern basis in preparing the accounts.

Page 2

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

TRUSTEES’ REPORT (INCORPORATING A DIRECTORS' REPORT) (cont.) FOR THE YEAR ENDED 31 AUGUST 2021

Objectives and Activities

The objective of the company is to operate as a catalyst for community transformation by facilitating improvements in the lives of individuals and growth in community activity and cohesion. This will be achieved by identifying and understanding the needs and strengths within the community and by applying the Oasis Ethos to everything. The Oasis Ethos is:

The aim of Mulberry Bush (Coulsdon) Limited is to provide a high quality and affordable pre-school for the local community and to provide afterschool and holiday clubs for the children of Oasis Academy Byron and the surrounding area.

Relationship of The Mulberry Bush (Coulsdon) Limited to other Oasis companies

The Hub has three relationships with the wider Oasis group:

  1. With the national group of Oasis organisations

  2. With the Oasis Community Partnerships group

  3. With the local Oasis academies

These are described below as follows:

1. The national Oasis Group

The Oasis family of charities in the UK has been structured to enable the entire group to benefit from working together towards national objectives while at the same time being able to deliver maximum impact in local communities. The challenge of running a national charity is in ensuring the correct needs are being addressed in local communities, while the advantage is working collaboratively at a national level to minimise cost locally and benefitting from the value of interdependent working. This ‘hybrid structure’ has been developed to ensure that local ownership and oversight is achieved whilst leveraging economies of scale.

At a national level, Oasis Charitable Trust is responsible for all Oasis’ activities in the UK and is the parent company for three national subsidiaries. These are:

  1. Oasis Community Learning – a multi-academy chain running 52 academies across England

  2. Oasis Community Partnerships – a charity delivering community development work

  3. Oasis Community Housing – a housing charity supporting vulnerable adults and young people

2. The Oasis Community Partnerships Group

Within this group structure, Oasis Community Partnerships is responsible for all of Oasis’ community development work in the UK. It is the national holding company for 19 local Oasis Community Hubs and one Trading Company, delivering integrated community development work in a number of targeted neighbourhoods across the country.

Page 3

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

TRUSTEES’ REPORT (INCORPORATING A DIRECTORS' REPORT) (cont.) FOR THE YEAR ENDED 31 AUGUST 2021

3. The local Oasis Academies

The Mulberry Bush (Coulsdon) operates very closely with Oasis Academy Byron and Oasis Academy Coulsdon, part of the Oasis Community Learning multi-academy trust group.

The Mulberry Bush (Coulsdon) Limited is a local subsidiary of Oasis Community Partnership within the group structure. This enables sharing of resources, best practice and central support functions while The Mulberry Bush (Coulsdon) Limited operates locally in order to respond appropriately to the needs of the local area. As a result, The Mulberry Bush (Coulsdon) Limited benefits from higher quality and cheaper infrastructure than it would be able to access an entirely standalone organisation.

Achievements and Performance in 2020/2021

As with every other charity, Mulberry Bush was heavily impacted by the Covid-19 pandemic during the year, especially during national lockdowns. Whilst this time has been significantly challenging; it has presented us with opportunities to serve our community in a unique way, and our relationships with the families we serve has strengthened as a result of the support we’ve been able to offer.

The Preschool resumed at the beginning of the Autumn term as planned and once again following the guidance we managed to open to all the children each day, we saw each building as 1 “bubble” and were able to offer a full curriculum to all. Some families had decided to reduce sessions or not return until they felt more confident, and as a team we were still able to support these families by sending home learning packs and maintaining communication weekly.

It was decided that the preschool would implement a circuit break and close a week earlier so we closed for the Christmas break on Friday 11[th] December. During the Christmas break the Government imposed another Lockdown from the 5[th] January, during the Christmas period the senior team contacted all the parents to inform them and discussed their childcare needs. Again, some families decided not to return and the decision of not offering wrap around care was made. This of course had a huge implication to the preschool’s finances. Upon return the children were put into “bubbles” either attending morning or afternoon session. This was a success and the feedback from the parents on how we had dealt with the situation was extremely positive. As funding from the local Council was guaranteed, we took a proportion on the income we lost and put the equivalent of our staff team onto the government furlough scheme, this meant that staff worked specific days and in weekly blocks. Support to the staff team was offered by the management team, and where they were able to, accessed online training.

After the February half term session resumed as normal and we were able to offer afterschool care to Mulberry Bush children and those attending Oasis Academy Byron, the decision not to collect from the other local school was decided until after the Easter break, this was to minimise to risk of infection and so that we could maintain the bubbles with the current staff team.

We work with over 70 children through the preschool, and a monitoring and standards review took place in May 2021 of the preschool. This went very well with the inspector praising the team for their continued drive and enthusiasm. It was noted that the children were given access to as much of the curriculum during the pandemic as possible and that it was evident that the staff were committed to achieving the highest standards.

With the EYFS revision introduced in September 2021, all senior staff have attended workshops to learn how to implement these changes into the curriculum, this training has been fed down to all staff during staff meetings. More training for early years practitioners has been planned to enable all staff to support every child to reach their full potential.

Wrap around care is offered through breakfast club and afterschool clubs during the school term. The breakfast club is accessed by Mulberry Bush families, and families of Oasis Academy Byron which is on the

Page 4

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

same site. For the afterschool club, we provide a walking bus service from the local Coulsdon Church of England Primary School. We continue to receive positive feedback from parents, who comment on the friendly, engaging environment provided for their children. We regularly work with 74 children in our wrap around care.

Holiday activities were offered from the Easter holidays onwards, and families were so grateful and parents gave incredible feedback and praised the efforts of the staff team. We worked with 54 children in our holiday clubs.

We are proud to be part of the newly formed Oasis Coulsdon Hub Council ; alongside Oasis Academy Byron and Oasis Academy Coulsdon. Together we are the outworking of the Oasis vision in the local community, and before lockdown we were able to have our first meeting where holiday provision was seen as one of the key priorities to develop the Hub further. We look forward to meeting again soon and playing an active part in the development of the Hub in the future.

Plans for the future

In 2021 and beyond Oasis Mulberry Bush has a number of priorities including:

Financial review

Total income for the year ended 31 August 2021 amounted to £289,461 (2020: £327,524) and expenditure was £314,885 (2020: £336,766). Overall the charity reported a deficit of £25,424 (2020: £9,242). As at 31 August 2021 net assets were £118,962 (2020: £144,386) all of which are unrestricted.

Reserves

The Directors continue to review The Mulberry Bush (Coulsdon) Limited’s need for reserves in line with the guidance issued by the Charity Commission and have adopted a policy to set aside funds of approximately three months running costs, which we estimate to be £78,730. Currently the charity holds £118,962 of reserves. Removing the value of fixed assets and restricted funds from total funds leaves free reserves of £118,294. The directors are satisfied they have adequate resources to meet their liabilities as they fall due.

DIRECTORS' RESPONSIBILITIES STATEMENT

The Directors (who are also Trustees of The Mulberry Bush (Coulsdon) Limited for the purposes of charity law) are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Page 5

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

TRUSTEES’ REPORT (INCORPORATING A DIRECTORS' REPORT) (cont.) FOR THE YEAR ENDED 31 AUGUST 2021

Company law requires the Directors to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Directors are required to:

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

PROVISION OF INFORMATION TO AUDITORS

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

AUDITORS

Mercer & Hole were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution that they be re-appointed will be put at a General Meeting

In preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the Directors on 08/03/2022 and signed on their behalf by:

P ROSE

Trustee

Page 6

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

AUDITOR’S REPORT TO THE MEMBERS OF THE MULBERRY BUSH (COULSDON) LIMITED

Opinion

We have audited the financial statements of The Mulberry Bush (Coulson) Limited (the ‘charitable company’) for the year ended 31 August 2021 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 charitable company 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 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 audit 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 trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Page 7

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

AUDITOR’S REPORT TO THE MEMBERS OF THE MULBERRY BUSH (COULSDON) LIMITED

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Report or the Trustees’ Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company 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 charitable company’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.

Page 8

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

AUDITOR’S REPORT TO THE MEMBERS OF THE MULBERRY BUSH (COULSDON) LIMITED

Auditor’s responsibilities for the audit of the financial statements

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Based on our understanding of the company and industry, we identified that the principal risks of noncompliance with laws and regulations related to breaches in Health & Safety and General Data Protection Regulations, and we considered the extent to which non-compliance may have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements and the financial report (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate entries including journals to overstate revenue or understate expenditure, and management bias in accounting estimates.

Audit procedures performed by the engagement team included:

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Page 9

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

AUDITOR’S REPORT TO THE MEMBERS OF THE MULBERRY BUSH (COULSDON) LIMITED

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 charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members 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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Helen Cain , Senior Statutory Auditor

For and on behalf of Mercer & Hole, Statutory Auditor

Mercer & Hole is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006 21 Lombard Street London EC3V 9AH

Date: 16/03/2022

:

Page 10

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (Incorporating Income and Expenditure Account) FOR THE YEAR ENDED 31 AUGUST 2021

Note
INCOME FROM:
Donations, legacies and grants
Charitable activities
2
TOTAL
EXPENDITURE ON:
Charitable activities
3
TOTAL
NET EXPENDITURE FOR THE YEAR AND
NET MOVEMENT IN FUNDS
Total funds at 1 September
TOTAL FUNDS AT 31 AUGUST		 Unrestricted
funds
Restricted
funds
Total
funds
Total
funds

2021
£
2021
£
2021
£
2020
£
12,994
-
12,994
51,239
276,467
-
276,467
276,285

289,461
-
289,461
327,524

314,885
-
314,885
336,766

314,885
-
314,885
336,766
(25,424)
-
(25,424)
(9,242)
144,386
-
144,386
153,628
118,962
-
118,962
144,386

The notes on pages 13 to 21 form part of these financial statements.

Page 11

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee) REGISTERED NUMBER: 03902995

BALANCE SHEET AS AT 31 AUGUST 2021

Note
FIXED ASSETS
Tangible assets
7
CURRENT ASSETS
Cash at bank and in hand
Debtors
8
CREDITORS:amounts falling due within
one year
9
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
Restricted funds
10
Unrestricted funds
10
TOTAL FUNDS

£
107,005
14,352		 2021


£
£
668

141,741

5,883

147,624
(5,052)
118,294
118,962
-
118,962
118,962		 2021


£
£
668

141,741

5,883

147,624
(5,052)
118,294
118,962
-
118,962
118,962		 2020
£
1,814



142,572
121,357
(3,063)		 147,624
(5,052)




118,962 144,386
-
144,386
-
118,962
118,962 144,386

The financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the board on 08/03/2022 and are signed on its behalf by:

P ROSE Trustee

The notes on pages 13 to 21 form part of these financial statements.

Page 12

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The accounts (financial statements) have been prepared in accordance with the Charities SORP (FRS102) applicable to charities preparing their accounts in accordance with FRS102 the Financial Reporting Standard applicable in the UK and Republic of Ireland, the Companies Act 2006, and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019. Assets and liabilities are recognised at historical cost or transactional value unless otherwise stated in the accounting policies.

1.2 Company status

The company is a company limited by guarantee incorporated and domiciled in the UK and is a public benefit entity. Oasis Community Partnerships is the sole member of the company. The address of the registered office is 1 Kennington Road, London, SE1 7QP. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company. Details of the principal activities of the company are given within the Trustees’ Report. The accounts have been prepared in GBP and have been rounded to the nearest pound.

1.3 Going concern

The financial statements have been prepared on a going concern basis. The Directors have considered the risks to the Hub, including the impact of Covid-19, and have confirmed that the Council funding is secure for funded places for the remainder of the academic year. The nursery follow guidelines in terms of adult to child ratios and this is variable depending on the age of the child. As the children will be required to socially distance as a group instead of individually, we do not envisage fewer spaces being available and strict cleaning processes have been put in place. Detailed forecasts for the next 12 months show that no material uncertainty exists and furthermore, the Directors are confident that costs will only be incurred to the extent that funding is secured. The Directors are confident that the Hub has adequate resources to continue operating for the foreseeable future and, for this reason, the Directors continue to adopt the going concern basis in preparing the accounts.

1.4 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Directors in furtherance of the general objectives of the company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund.

1.5 Income

All income is included in the statement of financial activities when the company is legally entitled to the income and the amount can be quantified with reasonable accuracy and the likelihood of receipt of the income is probable. The income includes gifts and donations, fees receivable and grants. Fees receivable are accounted for in the period in which the service is provided.

1.5.1 Government Grants

Where no performance conditions relating to the receipt of the grant, the grant revenue is recognised when received.

Page 13

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

1. ACCOUNTING POLICIES (CONTINUED)

1.6 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the Hub’s operations and activities.

1.7 Pensions

The Company operates a defined contribution pension scheme. Contributions are charged to the income and expenditure account as they become payable in accordance with the rules of the scheme.

1.8 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

1.9 Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.10 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Building Improvements - 10%

1.11 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.12 Financial instruments

The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. Financial liabilities held at amortised cost comprise bank loans and overdrafts, trade and other creditors.

Page 14

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

1. ACCOUNTING POLICIES (CONTINUED)

1.13 Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates, assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects the current and future periods.

In the view of the directors, no assumptions concerning the future or estimation uncertainty affecting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

2. INCOME FROM CHARITABLE ACTIVITES

School fees from parents
Local Authority grant
Sundry income
Total income		 Unrestricted
funds
Restricted
funds
Total
funds
Total
funds
2021
£
2021
£
2021
£
2020
£
138,785
-
138,785
125,246
137,664
-
137,664
151,039
18
-
18
-
276,467
-
276,467
276,285

Page 15

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

3. CHARITABLE ACTIVITIES

Gross salaries
Employers national insurance contributions
Employers pension contributions
Equipment
Repairs and maintenance
Insurance
Telephone
Administration
Sundries
Premises costs
Advertising
Food and other consumables
Legal fees
Travel costs
Audit fee
Subscriptions and memberships
Management
Recruitment and training
Depreciation
Total
The costs above are classified as:
Direct
Costs
2021
£
Total
285,385
4.
GOVERNANCE COSTS
Auditor’s remuneration		 Gross salaries
Employers national insurance contributions
Employers pension contributions
Equipment
Repairs and maintenance
Insurance
Telephone
Administration
Sundries
Premises costs
Advertising
Food and other consumables
Legal fees
Travel costs
Audit fee
Subscriptions and memberships
Management
Recruitment and training
Depreciation
Total
The costs above are classified as:
Direct
Costs
2021
£
Total
285,385
4.
GOVERNANCE COSTS
Auditor’s remuneration		 Unrestricted
funds
Restricted
funds
2020
£
2020
£
220,692
-

12,145
-
15,392
-
1,050
-
428
-
1,493
-
1,412
-
1,036
-
45
-
16,050
-
1,283
-
10,722
-
104
-
86
-
2,500
-
1,395
-
27,000
-
906
-
1,146
-		 Total
funds
Total
funds
2021
£
2020
£
220,692
226,567
12,145
12,053
15,392
15,858
1,050
1,822
428
19,804
1,493
1,493
1,412
1,440
1,036
1,231
45
474
16,050
17,314
1,283
655
10,722
9,618
104
-
86
79
2,500
2,160
1,395
71
27,000
22,500
906
2,481
1,146
1,146
314,885
336,766
Total
costs
Total
costs
2021
£
2020
£
314,885
336,766
314,885
-

Support
Costs
Governance
costs
2021
£
2021
£

27,000
2,500
Total
funds
2021
Total
funds
2020
£
£
2,500
2,160

Page 16

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

5. NET EXPENDITURE

This is stated after charging:

Depreciation 2021
2020
£
£
1,146
1,146

During the year, no Director received any remuneration, benefits in kind or reimbursement of expenses (2020 - £nil).

6. STAFF NUMBER AND EMOLUMENTS

Staff emoluments
Staff emoluments
Social security costs
Pension costs
Total staff costs
The average monthly number of employees during the year was as follows:
Charitable activities		 2021
£
220,692
12,145
15,392
248,229
18		 2020
£
226,567
12,053
15,858
254,478
18

No employees earned more than £60,000 per annum (including taxable benefits but excluding employers’ pension contributions) during the year ended 31 August 2021 (2020: none).

The pension costs above relate to a defined contribution scheme, which is operated by Oasis Charitable Trust and were all charged to unrestricted expenditure.

The key management personnel of the company is the board of directors and the operations manager. The total employee benefits of the key management are recognised within Mulberry Bush and were £39,959 (2020: £36,740).

Page 17

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

7. TANGIBLE FIXED ASSETS

Cost
At 1 September 2020
At 31 August 2021
Depreciation
At 1 September 2020
Charge for the year
At 31 August 2021
Net book value
At 1 September 2020
At 31 August 2021
8.
DEBTORS
Trade debtors
9.
CREDITORS FALLING DUE WITHIN ONE YEAR
Trade creditors
Amounts owed to parent undertaking		 Building
Improvements
£
66,399
66,399
64,585
1,146
65,731
1,814
668
2021
2020
£
£
14,352
5,883
14,352
5,883
2021
2020
£
£
2,500
2,298
563
2,754
3,063
5,052		 Building
Improvements
£
66,399
66,399
64,585
1,146
65,731
1,814
668
2021
2020
£
£
14,352
5,883
14,352
5,883
2021
2020
£
£
2,500
2,298
563
2,754
3,063
5,052
2021
£
14,352
14,352
2021
£
2,500
563
3,063
5,883
2020
£
2,298
2,754
5,052

Page 18

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

10. ANALYSIS OF NET ASSETS BETWEEN FUNDS - 2021

Fixed assets
Current assets
Current liabilities		 Unrestricted
funds
Restricted
funds
Total
funds
Total
funds
2021
2021
2021
2020
£
£
£
£
668
-
668
1,814
121,357
-
121,357
147,624
(3,063)
-
(3,063)
(5,052)
118,962
-
118,962
144,386

ANALYSIS OF NET ASSETS BETWEEN FUNDS - 2020

Fixed assets
Current assets
Current liabilities		 Unrestricted
funds
Restricted
funds
Total
funds
Total
funds
2020
2020
2020
2019
£
£
£
£
1,814
-
1,814
2,960
147,624
-
147,624
161,205
(5,052)
-
(5,052)
(10,537)
144,386
-
144,386
153,628

11. MOVEMENT IN FUNDS - 2021

Unrestricted funds
General fund
Restricted funds
Restricted funds
TOTAL FUNDS		 As at 1 Sep
2020
£
144,386
-
144,386		 Net
movement
In funds
£
(25,424)
-
(25,424)		 As at 31 Aug
2021
£
118,962
-
118,962

General funds are held to ensure the future of the operations.

Page 19

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

MOVEMENT IN FUNDS - 2020

Unrestricted funds
General fund
Restricted funds
Restricted funds
TOTAL FUNDS		 As at 1 Sep
2019
£
153,628
-
153,628		 Net
movement
In funds
£
(9,242)
-
(9,242)		 As at 31 Aug
2020
£
144,386
-
144,386

12. ULTIMATE PARENT AND IMMEDIATE UNDERTAKING AND CONTROLLING PARTY

The company is a wholly owned subsidiary of Oasis Community Partnerships (OCP), a company incorporated in England (registered number 08749179) and a registered charity (number 1163889). OCP is the Immediate Parent and has the power to appoint and remove Trustees. OCP prepares consolidated financial statements and this is the smallest group for which accounts are prepared that incorporate The Mulberry Bush (Coulsdon) Limited. Copies of these financial statement can be obtained from its registered office at 1 Kennington Road, London, SE1 7QP.

OCP’s principal objectives are to:

Oasis Charitable Trust (OCT) is the Ultimate Parent and is a company incorporated in England (registered number 02818823) and a registered charity (registered charity number 1026487). Oasis Charitable Trust prepares consolidated financial statements which include the results of The Mulberry Bush (Coulsdon) Ltd, and this is the largest group for which accounts are prepared that include this company. Copies of the Oasis Charitable Trust group financial statements are available from its registered office at 1 Kennington Road, London, SE1 7QP.

OCT’s principle objectives are to:

Page 20

THE MULBERRY BUSH (COULSDON) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

13. RELATED PARTY TRANSACTIONS

During the year, the company made the following transactions with other group companies:

14. OPERATING LEASES

The nursery have two indefinite leases in place, one for the building and one for the ground lease.

15. STATEMENT OF FINANCIAL ACTIVITIES – COMPARATIVES

Note
INCOME FROM:
Donations, legacies and grants
Charitable activities
2
TOTAL
EXPENDITURE ON:
Charitable activities
3
TOTAL
NET EXPENDITURE FOR THE YEAR AND NET
MOVEMENT IN FUNDS
Total funds at 1 September
TOTAL FUNDS AT 31 AUGUST		 Unrestricted
funds
Restricted
funds
Total
funds

2020
£
2020
£
2020
£
51,239
-
51,239
276,285
-
276,285
327,524
-
327,524
336,766
-
336,766
336,766
-
336,766
(9,242)
-
(9,242)
153,628
-
153,628
144,386
-
144,386

Page 21