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2022-03-31-accounts

Charity registration number 1086957

Company registration number 4148695 (England and Wales)

COMMUNITY CHILDCARE CENTRES

TRADING AS GROWING PLACES

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Matthew Goodwin (Chair) Sue Cleaveley (Vice Chair) Michael Fountain Christina Gray Emma Jervis Jackie Warren Stephanie Cufley (Appointed 14 December 2021) Sophy Louth (Appointed 14 December 2021) Rachel Parsons (Appointed 14 December 2021) Charity number 1086957 Company number 4148695 Principal address Growing Places@Mill Hill Mill Road Waterlooville Hants PO7 7DB Registered office Growing Places@Mill Hill Mill Road Waterlooville Hants PO7 7DB Auditor F J Wilde FCCA MBA DChA Warner Wilde 4 Marigold Drive Bisley Surrey GU24 9SF

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES CONTENTS

Page
Trustees' report 1 - 8
Statement of Trustees' responsibilities 9
Independent auditor's report 10 - 13
Statement of financial activities 14
Balance sheet 15
Statement of cash flows 19
Notes to the financial statements 16 - 26

TRUSTEE / DIRECTORS REPORT – 1[st] April 2021 - 31[st] March 2022

Introduction

The Trustees / Directors present their annual report and audited accounts for the year ending 31 March 2022.

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)".

Company Structure

COMMUNITY CHILDCARE CENTRES (Growing Places) is an incorporated, not-for-profit, company registered by guarantee, and is also registered as a charity. The company was founded on 26 January 2001 and registered as a charity on 7 June 2001. Company details and accounts information is submitted on an annual basis to both Companies House (registration number 4148695) and the Charities Commission (registration number 1086957). Its activities are governed by its Memorandum and Articles of Association.

COMMUNITY CHILDCARE CENTRES (Growing Places) have 9 childcare settings, all registered with Ofsted, providing nursery and out-of-school provision for children aged up to, and including, 11 years of age. The nurseries (N) and out-of-school clubs (OOS) within the boroughs of Havant and Fareham are:

Growing Places @ Little Acorns our outdoor learning environment used by our Nurseries and Out of school clubs and the local community, registered as a Nursery in April 2021.

Governance and Management

The governing body of COMMUNITY CHILDCARE CENTRES (Growing Places) comprises of the CEO and the Board of Trustees (who are also the directors for the purpose of company law). The Board of Trustees meet as a full board three times a year and at various times throughout the year in delegated subcommittees, as required. The Board are responsible for the strategic direction of the company/charity.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10.00 in the event of a winding up.

A scheme of delegation is in place such that day-to-day responsibility for the provision of services rests with the Chief Executive, the Company Leadership team and Leadership teams in settings.

Page 1

Name Role Date of
Appointment		 Re-elected
date
(Due to 4 yr.
retirement
otherwise)		 Resignation
(if within year)
Sue Cleaveley CommunityTrustee 14.01.2016 25.05.2018 VICE n/a
Michael Fountain Parent Trustee 27.11.2018 n/a
Matthew
Goodwin		 Community Trustee 14.03.2013 11.11.2019 CHAIR n/a
Christina Gray Parent Trustee 10.02.2020
Emma Jervis CommunityTrustee 23.12.2016 n/a n/a
LucyRolfe CommunityTrustee 27.11.2018 n/a 5.7.21
Jackie Warren Chief Executive
Officer(CEO)		 29.04.2013 n/a n/a
SophyLouth CommunityTrustee 14.11.21
Stephanie Cufley Parent Trustee 14.12.21
Rachel Parsons Parent Trustee 14.11.21
Company Leadership Team Company Leadership Team
Rachel Oakshott-Evans Children & Adult LearningCoordinator
Paula Stoyles Finance & HR Manager
Setting Leadership Teams
Cowplain Nursery: Rachel Oakshott-Evans & Emma Quance
After-School(OOS): EmmaQuance
Emsworth After-School(OOS): MandyPartridge(Left 25/2/22)Angela McGeady
Havant Nursery: Jess Eaton
Mill Hill Nursery: Jackie Warren
After-School (OOS): Belinda Lipscomb (left Sept 21) Chris Warren
HolidayClub(OOS): Chris Warren
Morelands Nursery: Sam Martin
After-School(OOS): Nicola Warren(Left 15/10/21)Kerrie Morgan(15/11/21)
Oak Meadow Nursery: Stella Ioannou
After-School (OOS): Shelby Tyler
HolidayClub(OOS): ShelbyTyler
Merryfields Nursery: Jayne Grist
Berewood ASC Belinda Lipscomb

Alongside the Chief Executive, the Trustees (Directors) have overall responsibility for the governance of COMMUNITY CHILDCARE CENTRES (Growing Places), ensuring that the company/charity has appropriate control systems (financial and otherwise) in place, and that these are reviewed and/updated as is appropriate.

The Chief Executive and Trustee responsibilities include:

Page 2

COMPANY VISION, MISSION & ETHOS

‘ CREATING THE FUTURE BY INSPIRING THE MOMENT’

TOGETHER we develop sociable, articulate, responsible, caring children with a tolerance, understanding and respect for each other and their community.

MISSION: Growing Places is a charitable company, committed to enhancing lives, raising aspirations and creating opportunities for all stakeholders (children, their families, employees, volunteers and the Community)

ETHOS / CULTURE:

Growing Places RAISES ASPIRATIONS for all who are part of our settings

We provide a range of opportunities to encourage children to explore, think for themselves, work collaboratively with others, recognising that it is only through making mistakes that real learning happens. In doing so, we build children’s resilience, self-esteem and self-belief, encouraging positive attitudes for life.

To do this, we:

To fulfil this Mission, we will focus on:

Ethos - Growing Places will RAISE THE ASPIRATIONS for all who are part of our settings.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Page 3

Review and celebration of Activities and Achievements

Our CEO was recognised by the NHS as an Angel of support.

All settings were restructured and reset up with new & refreshed environments and resources to support the changes in our children and procedures post covid, whilst still being mindful of retaining the highest standards of hygiene & cleaning practices.

Alongside this we offered staff training to enhance all teams understanding and confidence in the Growing Places Approach to childcare & Education. Maintaining original values & ethos, whilst acknowledging that families and children’s needs were very different to pre covid. We recognised that we were going to have to make changes to the opportunities for our children and that team members would need support to offer these enhanced opportunities.

The lead team developed procedures to consolidate practice across settings, reviewing the rhythm of the day and making changes to the organisation of the day and planning.

All settings have had money invested in refurbishments; general maintenance & additional spaces created by building cabins. Outdoor spaces have also been reviewed and developed.

We have continued to reach out to our local communities & share GP kindness, delivering flowers, hampers and share time with our elderly friends in Woodland’s care home.

We held a trial of a small group of children attending the care home every day over a 4-week period & documented the impact on both children and the elderly, to enable us to investigate and take further next year, hoping to gain new partners in this important research.

We have introduced a process to support all settings identify & make improvements to the service they offer & ensure we maintain a consistent approach in all of our settings. The lead team share their findings with each other & the management team to develop an action plan for success.

We continue to recognise that our greatest asset is our teams and have continued to invest in team members professional development, including a robust induction programme, online learning opportunities for all as well as more specific courses being identified and accessed to support development of skills and expertise.

We identified that there will need to be a huge investment in staff retraining and upskilling next year, if we are to continue to meet the changing needs of our children and families, including emotional wellbeing, speech & Language, Communication & professional training courses.

The Community hub has continued to grow & develop, with more families accessing the pantry and being signposted for other help. We also have extended the pantry to offer toiletries, baby products, clothing & toys to families.

We have been working in partnership with other agencies to support families through the community hub, including health visitors and citizens advice bureau this year.

Page 4

Future Plans:

Page 5

FINANCIAL SUMMARY

The ‘Statements of Financial Activity’ shows a year-end surplus of £209,815. The surplus is due to good financial management.

Prior year dealing with Covid situation – surplus was considerably lower in 20/21 Little Acorns opening as a full Nursery

Berewood Afterschool reopening in Sept 2021

HAF Payments (Hampshire County Council scheme) for Holiday Club Spaces

Calculation of the profit in 21/22, % surplus to be given to staff in a bonus payment 22/23 Looking for land to purchase in 22/23 – Agreed with Board Trustees £125K

With the above expenditure in 22/23, this is in line with company financial procedures, risk management and reserves policies (minimum 0.1% on turnover).

Income

Overall, income has increased by 16.9% on 20/21 (32.36% excluding CRJS).

Individual setting income (actual fees invoiced and early years grant):

SETTING
2021/2022		 2020/2021 2019/2020 2018/2019
Mill Hill Nursery £495,461 £424,170 £469,291 £449,115
Cowplain Nursery £221,851 £141,015 £130,777 £88,736
Havant Academy Nursery £356,215 £274,189 £339,888 £297,121
Oak Meadow Nursery £387,920 £327,941 £387,752 £430,352
Morelands Nursery £394,186 £351,250 £376,892 £344,331
Merryfields Nursery £252,266 £180,962 £193,747 £59,189
Oak Meadow OOS £51,117 £24,188 £97,099 £98,305
Morelands After-school £51,863 £30,547 £52,575 £46,428
Mill Hill OOS £111,670 £66,648 £66,459 £75,390
Emsworth After-school £45,326 £21,822 £37,740 £28,466
Cowplain After-school £43,293 £17,181 £51,299 £40,454
Berewood After-school £39,982 * £49,629 £34,381
Little Acorns £58,250 £10,030 £6,089 £360

Expenditure

Overall, expenditure has increased by 9.3% (decrease of 4.57% in 20/21) to meet additional childcare provision requirements in settings (e.g. staffing, rents, insurance and resources).

A full summary and breakdown of income and expenditure is available on the enclosed Financial Statements.

Tangible fixed assets

Growing Places this year has developed outside spaces and invested in Outdoor Cabins at several of our sites to encourage outside learning and play. We have developed our Growing Places Centre for Professional Development utilising part of the Mill Hill Primary School site; we have equipped it to support the staff and adult learning that we wish to develop. Continued investment in some IT equipment has again been made. Included in this is also the

Page 6

site that Growing Places own know as Little Acorns based at Wickham. Purchased Transit van for use of caretaker jobs throughout company.

Total tangible fixed assets are worth £316,995 (21/22) £291,477 (20/21),

Current Assets and liabilities

We continue to monitor the levels of debt, in relation to fees invoiced. Our trade debtors currently stands at £40,110, 20/21: £17,600. which is 1.52% of turnover. Several bad debts have not been recoverable and have been written off as they relate to long term debts £6,503 (21/22), £8,102 (20/21). Total debtors of £62,436, includes £22,327 relating to prepayments for Rent, Lease, and SLA

We will monitor debtors and implement procedures for prompt and recovery of outstanding balances.

Creditor liabilities, £87,751 is slightly lower than previous year. (2021: £93,806)

Reserves Policy

As a not-for-profit organisation, COMMUNITY CHILDCARE CENTRES (Growing Places) hold its reserves in a High Interest bank account and ensures that any surplus, i.e., net movement in funds, is reinvested into the organisation.

Reserves are that part of a charity’s unrestricted income funds that are freely available to spend. Our reserves (“total funds carried forward”) amount to £1,163,116, (21/22), £986,025 20/21). In terms of expenditure this is approx. 42% of expenditure, which amounts to approx. 6 months continued business stability, should income/turnover stop.

As such, the reserves are held to:

We will continue to deliver high standards in quality, maintain our strong reputation, through kindness and support to all or families in these difficult and uncertain times. We will continue to develop and review our management systems in order to support decisions required to keep a robust organisation through these ever-changing times.

Trustees, the CEO and the members of the Company Leadership team will continue to monitor the level of reserves held to ensure the charity is operating efficiently.

Disclosure of information to the auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

Page 7

The Trustees’ report was approved by the trustees of the charity on 21 December 2022 and signed on its behalf by:

Matthew Goodwin Trustee

Page 8

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2022

The trustees, who are also the directors of Community Childcare Centres 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.

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF COMMUNITY CHILDCARE CENTRES

Opinion

We have audited the financial statements of Community Childcare Centres (the ‘charity’) for the year ended 31 March 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and 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.

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF COMMUNITY CHILDCARE CENTRES

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 s tatement of Trustees' r esponsibilities, 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 for the financial statements

We have been appointed as auditor under section 144 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.

Auditor's responsibilities for the audit of the financial statements

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

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF COMMUNITY CHILDCARE CENTRES

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income from:
Donations and legacies
3
58,091
-
Charitable activities
5
2,573,362
3,580
Other trading activities
4
1,876
-
Investments
6
111
-
Total income
2,633,440
3,580
Expenditure on:
Raising funds
7
12,600
-
Charitable activities
8
2,414,673
730
Total expenditure
2,427,273
730
Net income for the year/
Net movement in funds
206,167
2,850
Fund balances at 1 April 2021
956,949
29,076
Fund balances at 31 March
2022
1,163,116
31,926		 Total Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
58,091
324,396
8,108
2,576,942
1,898,084
22,872
1,876
908
-
111
303
-
2,637,020
2,223,691
30,980
12,600
24,604
-
2,415,403
2,192,962
1,904
2,428,003
2,217,566
1,904
209,017
6,125
29,076
986,025
950,824
-
1,195,042
956,949
29,076		 Total
2021
£
332,504
1,920,956
908
303
2,254,671
24,604
2,194,866
2,219,470
35,201
950,824
986,025

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES BALANCE SHEET

AS AT 31 MARCH 2022

Notes
Fixed assets
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
16
Unrestricted funds		 2022
£
£
316,995
62,436
903,362
965,798
(87,751)
878,047
1,195,042
31,926
1,163,116
1,195,042		 2021
£
£
291,477
38,810
749,544
788,354
(93,806)
694,548
986,025
29,076
956,949
986,025		 2021
£
£
291,477
38,810
749,544
788,354
(93,806)
694,548
986,025
29,076
956,949
986,025
965,798
(87,751)		 788,354
(93,806)
986,025
29,076
956,949
986,025

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 2022, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

The financial statements were approved by the Trustees on 21 December 2022

Sue Cleaveley (Vice Chair)

Trustee

Company registration number 4148695

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

Community Childcare Centres is a private company limited by guarantee incorporated in England and Wales. The registered office is Growing Places@Mill Hill, Mill Road, Waterlooville, Hants, PO7 7DB.

1.1 Accounting convention

The financial statements have been prepared in accordance 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)". 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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. 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 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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

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.

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

1.5 Expenditure

A liability is recognised once a constructive or legal obligation is identified, settlement is probable settlement and the amount can be measured reliably. Costs are allocated to expenditure headings that aggregate similar costs to that category and where costs cannot be directly attributed, they are termed support or governance costs and allocated to the charity's activities.

The charity is potentially exempt from taxation by virtue of its charitable status and the exemptions that conveys. The charity is not VAT registered and any irrecoverable VAT associated with expenditure is allocated to the same cost headings as the expenditure it relates to.

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:

Freehold land and buildings 2% on buildings, 0% on land Leasehold land and buildings The length of the lease or 10 years if not determined. Fixtures and fittings 25% reducing balance Motor vehicles 25% reducing balance

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.

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

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 p aymen ts 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.

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2022

Notes
Cash flows from operating activities
Cash generated from operations
20
Investing activities
Purchase of tangible fixed assets
Proceeds on disposal of tangible fixed
assets
Interest received
Net cash 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		 2022
£
(62,123)
5,139
111		 £
210,691
(56,873)
-
153,818
749,544
903,362		 2021
£
(41,525)
2,415
303		 £
92,671
(38,807)
-
53,864
695,680
749,544

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

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.

3 Donations and legacies

Unrestricted Unrestricted
Restricted		 Total
funds funds
funds
2022 2021
2021		 2021
£ £
£		 £
Donations and gifts - 120
9		 129
Grants receivable for core activities
58,091 324,276
8,099		 332,375
58,091 324,396
8,108		 332,504
Grants receivable for core activities
CJRS - 263,083
-		 263,083
Local Authority re Saturday Club - -
8,099		 8,099
Hampshire County Council - 37,163
-		 37,163
Fareham BC 19,239 6,486
-		 6,486
HSDC - Apprentices 6,663 3,500
-		 3,500
Connect 4 8,355 -
-		 -
HMRC SSP 5,859 -
-		 -
HubHub Foundation 3,000 -
-		 -
Other 14,975 14,044
-		 14,044
58,091 324,276
8,099		 332,375
Other trading activities
Unrestricted Unrestricted
funds funds
2022 2021
£ £
Fundraising events 1,876 908

4 Other trading activities

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

5 Charitable activities

6
7		 Services provided
under contract
Performance related
grants
T shirts, bags and
fleeces
Other income
Analysis by fund
Unrestricted funds
Restricted funds
Investments
Interest receivable
Raising funds
Fundraising and publicity
Advertising		 Childcare
2022
£
2,549,313
-
-
24,049
2,573,362
2,573,362
-
2,573,362		 Community
Larder
2022
£
-
3,580
-
-
3,580
-
3,580
3,580		 Total
2022
£
2,549,313
3,580
-
24,049
2,576,942
2,573,362
3,580
2,576,942		 Childcare
Community
Larder
Total
2021
2021
2021
£
£
£
1,873,299
-
1,873,299
24,710
22,872
47,582
75
-
75
-
-
-
1,898,084
22,872
1,920,956
1,898,084
-
1,898,084
-
22,872
22,872
1,898,084
22,872
1,920,956
UnrestrictedUnrestricted
funds
funds
2022
2021
£
£
111
303
UnrestrictedUnrestricted
funds
funds
2022
2021
£
£
12,600
24,604
12,600
24,604

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF CASH FLOWS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

8 Charitable activities

Charitable
Charitable
Expenditure
Expenditure
2022
2021
£
£
Staff costs 1,651,876
1,520,444
Depreciation and impairment 31,466
23,883
Premises, rent, rates & utilities 198,771
208,137
Childcare - consumables 76,979
74,794
Motor running costs 15,588
12,155
Staff training, uniform & welfare 26,461
19,116
Premises maintenance 29,977
70,762
Cleaning 7,621
9,348
Equipment maintenance 3,226
2,831
Small equipment replacement 1,989
3,030
Loss on disposal of assets 5,139
2,414
2,049,093
1,946,914
Grant funding of activities (see note 9) 311
-
Share of support costs (see note 10) 358,259
236,632
Share of governance costs (see note 10) 7,740
11,320
2,415,403
2,194,866
Analysis by fund
Unrestricted funds 2,414,673
2,192,962
Restricted funds 730
1,904
2,415,403
2,194,866
9 Grants payable
Charitable
2021
Expenditure
2022
£
£
Grants to institutions:
Grants to individuals 311
-
311
-

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

10 Support costs

Support
costs
Governance
costs
£
£
Staff costs
264,371
-
Printing, postage,
stationery & copier
8,131
-
Telephone
12,511
-
Legal & professional
15,239
-
Insurance
8,787
-
Subscriptions & licences
7,793
-
IT support and
consumables
6,012
-
Bank charges
647
-
Non child resources
20,040
-
Miscellaneous
14,728
-
Audit fees
-
7,740
358,259
7,740
Analysed between
Charitable activities
358,259
7,740		 2022
£
264,371
8,131
12,511
15,239
8,787
7,793
6,012
647
20,040
14,728
7,740
365,999
365,999		 Support
costs
Governance
costs
£
£
181,735
-
6,551
-
12,362
-
6,435
-
8,652
-
5,573
-
4,250
-
638
-
2,503
-
7,933
-
-
11,320
236,632
11,320
236,632
11,320		 2021
£
181,735
6,551
12,362
6,435
8,652
5,573
4,250
638
2,503
7,933
11,320
247,952
247,952

Governance costs includes a provision of £6,450 plus VAT (2021: £6,000 plus VAT) for the preparation and audit of the financial statements.

11 Trustees

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

12 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
118 124

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

12
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2022
2021
£
£
1,766,735
1,574,482
109,404
86,534
40,108
41,163
1,916,247
1,702,179

Key management personnel is defined as the senior leadership team, whose total remuneration including employer's national insurance and pension contributions for the year was £181,668 (2021: £159,587).

Annual remuneration for the purposes of disclosing higher paid employees excludes employer's pension contributions.

The number of employees whose annual remuneration was more than £60,000 is as follows:

£60,000 is as follows:
2022 2021
Number Number
£60,000 - £69,999 - 1
£70,000 - £79,999 1 -
13
Tangible fixed assets
Freehold land
and buildings
£
Cost
At 1 April 2021
160,568
Additions
9,109
Disposals
-
At 31 March 2022
169,677
Depreciation and impairment
At 1 April 2021
10,532
Depreciation charged in the year
611
Eliminated in respect of disposals
-
At 31 March 2022
11,143
Carrying amount
At 31 March 2022
158,534
At 31 March 2021
150,036		 Leasehold
land and
buildings
Fixtures and
fittings
Motor vehicles
£
£
£
114,967
132,419
69,818
33,130
10,884
9,000
(4,433)
(18,721)
(2,200)
143,664
124,582
76,618
29,680
109,427
36,657
13,466
8,434
8,954
(222)
(18,721)
(1,272)
42,924
99,140
44,339
100,740
25,442
32,279
85,287
22,993
33,161		 Total
£
477,772
62,123
(25,354)
514,541
186,296
31,465
(20,215)
197,546
316,995
291,477

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF CASH FLOWS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

14 Debtors

Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
15
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2022
£
39,043
1,066
22,327
62,436
2022
£
21,354
12,046
43,891
10,460
87,751		 2021
£
17,600
-
21,210
38,810
2021
£
17,472
46,697
22,437
7,200
93,806

16 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Incoming Resources Balance at Incoming Resources Balance at
resources expended 1 April 2021 resources expended
31		 March 2022
£ £ £ £ £ £
HBC re Community Larder 9,545 (1,904) 7,641 - (730) 6,911
Saturday Club 8,099 - 8,099 - - 8,099
Community Larder
Donations 13,336 - 13,336 3,580 - 16,916
30,980 (1,904) 29,076 3,580 (730) 31,926

Community Larder - the community larder project creates a resource for local people to access affordable food and for families to learn to cook healthily on a budget.

Saturday Club - this funding provides access to weekend clubs for families who otherwise could not afford it.

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

17
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2022
2022
£
£
Fund balances at 31
March 2022 are
represented by:
Tangible assets
310,427
6,568
Current assets/
(liabilities)
852,689
25,358
1,163,116
31,926		 TotalUnrestricted
funds
2022
2021
£
£
316,995
291,477
878,047
665,472
1,195,042
956,949		 Restricted
funds
2021
£
-
29,076
29,076		 Total
2021
£
291,477
694,548
986,025

18 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2022
£
130,532
474,936
605,468		 2021
£
145,644
490,966
636,610

19 Related party transactions

There were no disclosable related party transactions during the year (2021 - none) .

20 Cash generated from operations

20
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Cash generated from operations
21
Analysis of changes in net funds		 2022
£
209,017
(111)
31,466
(23,626)
(6,055)
210,691		 2021
£
35,201
(303)
23,883
3,275
30,615
92,671

The charity had no debt during the year.