# **ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2023**
## **CLIFTON-UPON-TEME NURSERY LIMITED**
**(A COMPANY LIMITED BY GUARANTEE) COMPANY REGISTRATION No: 04013169 CHARITY REGISTRATION No: 1085397**
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
## **CLIFTON-UPON-TEME NURSERY LIMITED**
**(A COMPANY LIMITED BY GUARANTEE)**
## **CONTENTS**
|Page 3|Legal & Administrative Information|
|---|---|
|Pages 4 to 5|Report of the Directors'|
|Page 6|Statement of Financial Activities|
|Page 7|Balance Sheet|
|Pages 8 to 16|Notes to the Financial Statements|
|Page 17|Independent Examiner's Report|
2
## **CLIFTON-UPON-TEME NURSERY LIMITED**
**(A COMPANY LIMITED BY GUARANTEE)**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**CHARITY NUMBER** 1085397 **COMPANY REGISTRATION NUMBER** 04013169 **DATE OF INCORPORATION** 12th June 2000 **START OF FINANCIAL YEAR** 1st July 2022 **END OF FINANCIAL YEAR** 30th June 2023 **DIRECTORS AT 30TH JUNE 2023** Robin Dean Cecilia Dean Katherine Poole (Appointed 24th November 2022) Alice Fletcher (Appointed 24th November 2022) Catherine Mawston (Resigned 26th may 2023) Matthew Bennett-Tomlin (Appointed & Resigned 26th May 2023) Valarie Pardy (Resigned 24th November 2022)
## **GOVERNING DOCUMENT**
Memorandum and Articles of Association Incorporated 12th June 2000, As Amended 8th February 2010, 24th February 2004 and 23rd February 2005.
## **OBJECTS**
To support the development of children under school age within the village of Clifton-Upon-Teme and its immediate environs ("The Community") by **i** ) Providing quality day care and education for babies and children between 3 months and statutory school age. **ii** ) Supporting parents in rural areas requiring day care for their children in order that they can attend to other responsibilities where it would be inappropriate to have children with them (for example - but not excluding other responsibilities - returning to work, furthering their education or serving in the community). **iii** ) Creating an environment where information and support can given to those desiring to enhance family skills and values and promote lifelong learning. **iv** ) Subject to the above and any other Charitable purposes for the benefit of children in the community as the Trustees from time to time determine.
## **REGISTERED ADDRESS**
## **PRIMARY BANKERS**
## **INDEPENDENT EXAMINERS**
Clifton Early Years Centre Pound Lane Clifton-Upon-Teme Worcester WR6 6DE Lloyds Bank Plc 48 Belle Vue Terrace Malvern Worcester WR14 4QG Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
3
## **CLIFTON-UPON-TEME NURSERY LIMITED**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **REPORT OF THE DIRECTORS' FOR THE YEAR ENDED 30TH JUNE 2023**
In my report last year, I concluded that the continued existence of the nursery after the challenges of a global pandemic was quite remarkable and a testament to the hard work of the staff and Trustees. I continue to feel that the survival of this small nursery, in a rural setting, is quite remarkable and, unfortunately, faces significant challenges in the year ahead. The evidence of the pressure on nurseries throughout the country are frequently reported in the press and many nurseries have been forced to close in the last year. The cost-of-living crisis, increase in fuel costs, inflation and underfunding of nursery places have placed considerable pressure on the setting.
The staff continue to work with dedication and commitment and are led by the manager, Abi, to address the observations of the OFSTED report of the inspection in February 2022. The report highlighted that the areas needing improvement included staff supervision to improve the quality of teaching and the educational programme for children’s personal, social, and emotional development. The inspector, on her one-day visit, observed that new manager (Abi) “is highly motivated and diligent”. The report, also, commented that the setting was a safe and inviting space and children were warmly welcomed. We were pleased that parents reported that “their children are happy and settled” and that the staff communicate effectively to keep them up to date with their children’s progress. The inspector also observed that safeguarding measures were effective, and staff have a good understanding of child protection and safeguarding issues. Abi has produced a robust action plan to address the matters that require improvement, and she is supported in this by an educational consultant. We anticipate that there will be a return of OFSTED soon to check on the progress that has been made.
The nursery depends on the voluntary work of the Board of Trustees. It is with great sadness and gratitude that we say goodbye to Valerie Pardy after six years of service to the nursery and her expert contribution to the educational aspects of the nursery will be greatly missed. We have, also, said ‘thank you and goodbye’ to Ross May, a parent Trustee.
There has been a concerted effort to recruit new Trustees and we are optimistic that this may have positive results. Hopefully, this evening we will be welcoming our latest volunteers to join the Board and I am pleased to see that they are local people.
Without more Trustees the nursery is in a very vulnerable position. There are three trustees continuing next year Robin Dean, Cecilia Dean and myself. We would still benefit from more Trustees joining the Board. As a charity, registered with the Charity Commission, the Trustees are responsible for the meeting the requirements for the efficient running of the nursery. The Board desperately need to have more Trustees, especially people with skills in accountancy, health and safety, marketing and early years education. We, continue to be grateful to Tracey Dewis for her support and expertise in keeping the accounts in an orderly manner.
At present we have 26 children on roll with the expectation of 3 more joining in January. Abi reports that there have been visitors looking for places and there may be a possibility of more registrations.
The staff at the Nursery have continued to work with great loyalty during this challenging period. We have welcomed Carla to the staff, and she is working towards her level 3 qualification. Tabitha has joined the bank staff team and we anticipate the return of Lottie, following her maternity leave. A staff member who worked during the holidays has left to a permanent job.
Developments over the year have included: changes to the environment to make it more calming and natural space for the children, the introduction of more open ended and authentic resources to allow the children to be curious and creative, the outside space has become a Forest School and sessions have been run for pre-school children, the sleep room has been moved and made more suitable for the purpose.
Abi has had support from Early Years Leadership and Worcestershire Children First to develop staff training and coaching. All staff are up to date on First Aid and Safeguarding training.
Now, more than ever, the future of this marvellous nursery will be dependent on the local community to galvanise itself if the nursery is still to be operational this time next year.
Catherine Mawston Chairperson of the Trustees
4
CLIFfoN-UPON-TEME NURSERY LIMrrED
REPOftTOF THE DIBecTOR8' (C111¢d>
FOR THEYEAR ENDeo JoTh JUME Z02J
bl
(L.BI £A
## **CLIFTON-UPON-TEME NURSERY LIMITED**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH JUNE 2023**
## **(Incorporating Income and Expenditure Account)**
|**Notes**
**INCOMING RESOURCES**
**Incoming Resources from Generated Funds**
Donations, Grants & Legacies
**3a**
Charitable Activities
**3b**
Investment Income
**3c**
Other Incoming Resources
**3d**
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
**Cost of Generating Funds**
Charitable Activities
**4a**
Governance Costs
**4b**
**TOTAL RESOURCES EXPENDED**
**NET INCOMING/ (OUTGOING) RESOURCES**
Balance Brought Forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2022/23**
**2021/22**
£
£
£
£
56,051
-
56,051
37,362
87,967
-
87,967
83,978
2
-
2
-
224
-
224
268
**144,244**
**-**
**144,244**
**121,608**
146,092
497
146,589
129,349
7,225
-
7,225
3,580
**153,317**
**497**
**153,814**
**132,929**
**(9,074)**
**(497)**
**(9,571)**
**(11,321)**
(11,457)
7,261
(4,196)
7,125
**(20,531)**
**6,764**
**(13,767)**
**(4,196)**|
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 8 to 16 form part of these financial statements.
6
CLIFfoN4IPON-TEMe NURSERY UMITED
AJAT m JUNe 202J
11974
7S2
Cath •t 8•nk *rKI
815
5.(87
27.111
27.121
10,1
PW11
(2W11
764
11&76n
141MI
A&7•
G•Th•r Fur#ts
(20.5311 {11AS7)
6.764
7281
n4
Ttyd Fur
tm LK •rKI R•wt* rflrd**JlFRS102
io
..2.3................................................................................
fJti(4
## **CLIFTON-UPON-TEME NURSERY LIMITED**
**(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of Preparation & Assessment of Going Concern**
## **Basis of Preparation**
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1st January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
## **Assessment of Going Concern**
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
## **Incoming Resources**
## _**Recognition of Incoming Resources**_
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the Directors are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
## _**Incoming Resources with Related Expenditure**_
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
## _**Grants and Donations**_
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
## _**Tax Reclaims on Donations and Gifts**_
Incoming resources from tax reclaims are included in the SOFA in the same financial period as the gift to which they
## _**Contractual Income and Performance Related Grants**_
This is only included in the SOFA once the related goods or services has been delivered.
## _**Gifts in Kind**_
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
## _**Donated Services and Facilities**_
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
## _**Volunteer Help**_
The value of any voluntary help received is not included in the accounts but is described in the Directors' annual report.
## _**Investment Income**_
This is included in the accounts when receivable.
## _**Investment Gains and Losses**_
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
8
## **CLIFTON-UPON-TEME NURSERY LIMITED**
**(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH JUNE 2023**
## **1. ACCOUNTING POLICIES (Continued)**
## **Expenditure and Liabilities**
## _**Liability Recognition**_
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
## _**Governance Costs**_
Include costs of the preparation and examination of statutory accounts, the costs of the Directors' meetings and cost of any legal advice to Directors on governance or constitutional matters.
## _**Changes in Accounting Policies and Previous Accounts**_
There has been no change to the accounting policies (variation rules and methods of accounting) since last year, and no changes to the previous accounts.
## _**Grants Payable without Performance Conditions**_
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
## _**Unrestricted funds**_
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
## _**Restricted funds**_
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
## _**Taxation**_
The charity is exempt from tax on its charitable activities.
## _**Pension Scheme**_
The Charity operates a defined contribution pension scheme for its employees. Obligations for contribution to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the Charity in independently administered funds.
## _**Legal Status of the Charity**_
The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £5 per member of the charity.
## _**Fixed Assets**_
These are capitalised if they can be used for more than one year, and cost at least £1,250. They are valued at cost or, if gifted, at the value to the charity on receipt.
## _**Investments**_
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at Directors' best estimate of market value.
## _**Depreciation & Amortisation**_
Depreciation and Amortisation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied per annum are as follows:
Property Cost 5% - Straight Balance Basis Property Improvements 10% - Straight Balance Basis Equipment Cost 20% - Straight Balance Basis Fixtures and Fittings 20% - Straight Balance Basis
9
## **CLIFTON-UPON-TEME NURSERY LIMITED**
**(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH JUNE 2023**
## **2. TANGIBLE FIXED ASSETS**
|Cost
01-Jul-22
Additions
Cost at
30-Jun-23
Depreciation
01-Jul-22
Charge
Depreciation at
30-Jun-23
Net Book Value
30-Jun-23
Net Book Value
30-Jun-22|Property
Improvement Equipment
Fixtures &
**Total**
Cost
Cost
Cost
Fittings
**2022/23**
£
£
£
£
£
95,733
39,298
8,999
19,200
163,230
-
-
-
-
-
95,733
39,298
8,999
19,200
163,230
95,733
27,324
8,999
19,200
151,256
-
1,622
-
-
1,622
95,733
28,946
8,999
19,200
152,878
**-**
**10,352**
**-**
**-**
**10,352**
-
11,974
-
-
11,974|
|---|---|
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
At the reporting end date the Clifton-upon-Teme Nursery Limited had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
|Between One & Five Years
Within One Year|**TOTAL**
**2022/23**
£
187
386
**573**|**TOTAL**
**2021/22**
£
187
386
**573**|
|---|---|---|
The amount expensed in the year was Nil (2021/22: £187).
10
## **CLIFTON-UPON-TEME NURSERY LIMITED**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH JUNE 2023**
## **3. INCOMING RESOURCES**
|**Note**
**a) Donations, Grants & Legacies**
Gifts & Donations
Grants Received
**b) Charitable Activities**
Breakfast Club
Holiday Club
Nursery Fees
**c) Investment Income**
Interest
**d) Other Incoming Resources**
Sundry Income|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2022/23**
**2021/22**
£
£
£
£
320
-
320
-
55,731
-
55,731
37,362
**56,051**
**-**
**56,051**
**37,362**
1,755
-
1,755
943
1,660
-
1,660
-
84,552
-
84,552
83,036
**87,967**
**-**
**87,967**
**83,978**
2
-
2
-
**2**
**-**
**2**
**-**
224
-
224
268
**224**
**-**
**224**
**268**|
|---|---|
11
## **CLIFTON-UPON-TEME NURSERY LIMITED**
**(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH JUNE 2023**
## **4. RESOURCES EXPENDED**
|**Note**
**a) Charitable Activities**
Advertising & Publicity
Bank & Interest Charges
Books & Publications
Catering Costs
Cleaning Costs
Consumables
Depreciation Expenses
**5**
Equipment Costs
Insurance Costs
License & Subscriptions
Office Costs
Premises Costs
Repairs & Maintenance
Staff Costs
**12**
Sundry Expenses
Telephone Costs
Training Costs
**`**
Utility Costs
Workwear Costs
**b) Governance Costs**
Independent Examiners Fee
**8**
Legal & Professional Fees|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2022/23**
**2021/22**
£
£
£
£
310
-
310
476
276
-
276
313
1,239
-
1,239
754
1,477
-
1,477
703
572
-
572
489
192
-
192
9
1,125
497
1,622
1,951
890
-
890
399
1,461
-
1,461
1,405
220
-
220
220
2,648
-
2,648
1,162
1,270
-
1,270
1,181
166
-
166
823
127,950
-
127,950
115,208
229
-
229
100
476
-
476
427
1,242
-
1,242
632
4,302
-
4,302
3,089
47
-
47
10
**146,092**
**497**
**146,589**
**129,349**
800
-
800
700
6,425
-
6,425
2,880
**7,225**
**-**
**7,225**
**3,580**|
|---|---|
12
## **CLIFTON-UPON-TEME NURSERY LIMITED**
## **(A COMPANY LIMITED BY GUARANTEE)**
**NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH JUNE 2023**
## **5. RESTRICTED FUNDS**
## **CURRENT FINANCIAL YEAR**
|Nursery Building Fund
Property Improvements
Tesco Grant|**Balance**
**Balance**
**01-Jul-22**
Income
Expenditure
Transfers
**30-Jun-23**
£
£
£
£
£
4,100
-
-
-
4,100
2,979
-
497
-
2,482
182
-
-
-
182
**7,261**
**-**
**497**
**-**
**6,764**|
|---|---|
## **PREVIOUS FINANCIAL YEAR**
|Nursery Building Fund
Property Improvements
Tesco Grant|**Balance**
**Balance**
**01-Jul-21**
Income
Expenditure
Transfers
**30-Jun-22**
£
£
£
£
£
4,100
-
-
-
4,100
3,476
-
497
-
2,979
182
-
-
-
182
**7,758**
**-**
**497**
**-**
**7,261**|
|---|---|
**Nursery Building Fund** represents funds received from The Community Fund and Vital Villages for the purchase of the nursery building. Depreciation charges and repair work can be offset against this fund.
**The Property Improvement Fund** represents funds received for improving the property. The expenditure from this fund has been capitalised, with the depreciation charge being offset against the fund.
**The Tesco Gran** t represents funds received in order to further improve the outdoor area.
The Restricted Funds held are represented by the Charity's Cash Reserves and Fixed Asset Investments and are to be expended as specified above.
13
## **CLIFTON-UPON-TEME NURSERY LIMITED**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH JUNE 2023**
## **6. CASH AT BANK AND IN HAND**
|Cash at Bank and in Hand|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**30-Jun-23**
**30-Jun-22**
£
£
**£**
**£**
815
4,282
5,097
4,188
**815**
**4,282**
**5,097**
**4,188**|
|---|---|
## **7. DEBTORS AND PREPAYMENTS**
|Sundry Debtors
Prepayments|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**30-Jun-23**
**30-Jun-22**
£
£
**£**
**£**
337
-
337
183
569
-
569
569
**906**
**-**
**906**
**752**|
|---|---|
## **8. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Accruals & Deferred Income
Bank Loans
Independent Examiners Fee
Sundry Creditors
Taxation & Social Security|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**30-Jun-23**
**30-Jun-22**
£
£
**£**
**£**
1,559
-
1,559
1,559
3,000
-
3,000
3,000
800
-
800
700
1,821
-
1,821
203
19,941
-
19,941
10,647
**27,121**
**-**
**27,121**
**16,109**|
|---|---|
## **9. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR**
|Bank Loans|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**30-Jun-23**
**30-Jun-22**
£
£
**£**
**£**
3,000
-
3,000
5,000
**3,000**
**-**
**3,000**
**5,000**|
|---|---|
The Charity obtained a Bounce Back Loan from Lloyds Bank Plc as a result of the impact of the coronavirus pandemic. There is no security on the assets of the Charity. The loan is repayable by 60 monthly instalments starting June 2021. The interest rate is 2.5% with the interest for the first 12 months interest cost covered by the UK Government's Business Interruption Payment scheme.
14
## **CLIFTON-UPON-TEME NURSERY LIMITED**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH JUNE 2023**
## **10. NET ASSETS BETWEEN FUNDS**
|Fixed Asset Investments
Net Current Assets
Long Term Liabilities|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**30-Jun-23**
**30-Jun-22**
£
£
£
£
7,870
2,482
10,352
11,974
(25,401)
4,282
(21,119)
(11,170)
3,000
-
3,000
5,000
**(20,531)**
**6,764**
**(13,767)**
**(4,196)**|
|---|---|
## **11. RECONCILIATION OF MOVEMENT ON CAPITAL AND RESERVES**
The Company is Limited by Guarantee (04013169) and is a Charity registered with the Charity Commission (1085397) and does not have a Share capital and has no income subject to Corporation Tax.
|Profit / Deficit for the financial year
Other Recognised Gains
Balance Brought Forward
Closing Funds at 30th June 2023
**12. STAFF COSTS AND NUMBERS**
Gross Wages, Salaries & Fees
Employer's National Insurance Costs
Pension Contributions
Employees who were engaged in each of the following activities:
Charitable Activities
Management & Administration|**TOTAL**
**2022/23**
**£**
(9,571)
-
**(9,571)**
(4,196)
**(13,767)**
**TOTAL**
**2022/23**
£
119,321
6,922
1,706
**127,950**
**TOTAL**
**2022/23**
11
1|**TOTAL**
**2021/22**
**£**
(11,321)
-
**(11,321)**
7,125
**(4,196)**
**TOTAL**
**2021/22**
£
109,724
4,251
1,233
**115,208**
**TOTAL**
**2021/22**
11
1|
|---|---|---|
The Charity operate a PAYE Scheme to pay all employed members of staff. No members of staff received emoluments of over £60,000. (2021/22:None)
## **Defined contribution schemes**
The Clifton-upon-Tame Nursery Limited operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Clifton-upon-Terna Nursery Limited in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £1,706. (2021/22:£1,233)
15
## **CLIFTON-UPON-TEME NURSERY LIMITED**
## **(A COMPANY LIMITED BY GUARANTEE)**
**NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH JUNE 2023**
## **13. DIRECTORS AND OTHER RELATED PARTIES**
No payments were made to Directors or any persons connected with them during this financial period. No material transaction took place between the organisation and a Director or any person connected with them.
## **14. RISK ASSESSMENT**
y j y g g free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
## **15. RESERVES POLICY**
The Directors have considered the level of reserves they wish to retain, appropriate to the Charity's needs. This is based on the Charity's size and the level of financial commitments held. The Directors aim to ensure the Charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Directors will endeavour not to set aside funds unnecessarily.
## **16. PUBLIC BENEFIT**
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Directors report. The Directors confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
16
INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS
Retth lo the Iruste8sI members of Clifton-upTeme Nursery Limited on the aruunts for year ended 30th June
2023 sat Olrt on pagos 6 to 18.
R¢8p•etlvo r•$ponslbllltles of trvstees and examln•r
The Chontys truste&s (who are also the directm of th8 company for the purposes of cLsmpany law) ale responsible for
Ihe preparation of the financral statements. Thè trustees are satisfied that the audit requirement ol Sectton 144111 ol th
Charities Act 2011 Ilhe Act) does not apF4y. and that there is r8quir•mènt in the gtrveming document or constitution
of th8 Charty for the conducting of an audit. As a corwertè, thè trustees have elect&Y th* the financial stalemenls
be subject to independent examination.
Having satlsfied mysem that the charty is not subj.ect io audiL and is •lb3it)le indeF*thi 8X8min8bon. rt is my
al examine the accounts under section 145 of thè Act:
bl to follow the prctedures lakl down In tl* Gwgral DitirTh ven by Charity Comm1861on under Section 14515llbl
ol the Act; and..
cl to State wh•thor parti¢ular rnatters have com? to my attent*)n.
88818 of Ind•p•nd•nt •xamlt)•e•ptat•m•nt
I condueled my 8xarninalion in accordance wth the General Directions gNen by Charity cMMIss*narS for England
& Wales in relation lo the conducling of ars independent examination. referred to above. An independent examination
includes a review of the accounting records ktyt by thè Charity 8nd ol the accounling systems employed by the Charity
and a comparison ol Ihe financial slatements presented 1h those rg¢ofds. It also includes Consideration of afiy unusual
items or disclosures in the financial statements, and seekiThJ explanalions Irw y¢)u as trustees wi¢¥rning such matters.
The purpose of thè examination is to establish as far as possib Ihat Ihere h8ve been fio breaches of the Charities
legislation and thot the financial statements comply with the SORP, on a test basis. of eVkIen relevant to the aMJnts
and disclosure8 th8 finan¢lal $tat•mw)ts.
Th¢ pr¢)¢edure$ undertaken do not provide all th8 evKlenc8 that would requir8d in an audlt. aThJ inforniation supplied
by Ihe trustees In tho course of tho 8xamlnaiknn 18 not subj1•d to aL*Yil tèst6 or enquirig8. and ConseqL11Y I do not
express an audit opinion on Ihe vw gNgn tyy th¢ financial 8ts1oment$, and in particukqr. l express no opinion as to
whèther Iht financial $lal¢m¢ntS give a true and falr vlew cl the affalrs of the Chaty. and my r8POrt is Ilmlled 10 the
m3tt8rs $91 out In Ihg slatoml bebw.
I planned and performed my examination $0 a$ to satisfy myself that the obiecb¥es of the indtrwndent examination are
achlmd and tslore finlS1n9 the report l obtaln vffitten assurances from Ihe trustees of all fflaterlal matters.
Ind•p•nd•nt •x8mln•rf$ •t•t•m•nt
In the course of my examination, no matter has come to my alttIon.
whlch gives mo reasonable Cause io Wieve that in. any material resm, the trLL8tees wuirement8'.
. to keep accountsThJ records in accordance section 386 ofth¢ C