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2023-03-31-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 2023

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Matthew Goodwin (Chair) Sue Cleaveley (Vice Chair) Michael Fountain Christina Gray Jackie Warren Stephanie Cufley Sophy Louth Lynne Tandy (Appointed 29 May 2023) Sara Caine (Appointed 21 November 2023) 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 - 28

TRUSTEE / DIRECTORS REPORT – 1[st] April 2022 - 31[st] March 2023

Introduction

The Trustees / Directors present their annual report and audited accounts for the year ending 31 March 2023.

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:

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 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)
Sara Caine Community
Trustee		 21.11.2023 Nov 2026 n/a
Sue Cleaveley Community
Trustee		 14.01.2016 Nov 2023 VICE n/a
Michael Fountain Parent Trustee 27.11.2018 Nov 2026 n/a
Matthew Goodwin Community
Trustee		 14.03.2013 Nov 2024 CHAIR n/a
Christina Gray Parent Trustee 10.02.2020 Feb 2024 n/a
Emma Jervis Community
Trustee		 23.12.2016 Nov 2024 n/a
Jackie Warren Chief Executive
Officer(CEO)		 29.04.2013 Nov 2024 n/a
Sophy Louth Community
Trustee		 14.11.2021 Nov 2024 n/a
Stephanie Cufley Parent Trustee 14.12.2021 Nov 2024 n/a
Rachel Parsons Parent Trustee 14.11.2021 Nov 2024 16.3.2023
Lynne Tandy Parent Trustee 29.5.2023 Nov 2026 n/a
Annette Tizzard HR Trustee 24.11.2022 Nov 2025 30.10.2023
Company Leadership Team Company Leadership Team
Rachel Oakshott-Evans Head of Nurseries
Paula Stoyles Finance & HR Manager
Carlie Powell Children & Adult LearningCoordinator
**Setting Leadership ** Teams
Cowplain Nursery: Rachel Oakshott-Evans & Emma Quance
After-School(OOS): EmmaQuance
Emsworth After-School(OOS): Angela McGeady– Closed May2022
Havant Nursery: Jess Eaton
Mill Hill Nursery: Jackie Warren, Tia Fletcher (August ‘22)
OOS Club: Chris Warren
Morelands Nursery: Sam Martin
After-School(OOS): Kerrie Morgan(Aug’22)Sam Martin(Sept 22)
Oak Meadow Nursery: Stella Ioannou (Left Sept ’22) Shelley Adams (Sept ’22)
OOS Club: Shelby Tyler (Left 15/4/22) Stella Ioannou (Left Sept 22) Shelley
Adams(Sept ’22)
Merryfields Nursery: Jayne Grist
Berewood ASC After-School: 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 Officer 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

We continued to reflect on changes to children, families and team members needs following covid, throughout this year.

Introduced a new role of home link support worker, to meet the demand for more family support across settings.

We continue to recognise that our greatest asset is our teams and have continued to invest in team members professional development, recognising that we also need to support their emotional wellbeing alongside this.

We introduced formal wellbeing meetings offered by Managers and signposted for support to our family HomeLink worker if appropriate.

We have reviewed and made some small changes to the induction programme, including more online opportunities for all as well as more specific courses being identified and accessed to support development of skills and expertise.

We identified the need for staff to receive new training in supporting children’s emotional wellbeing and 5 team members were chosen to receive ELSA training to become ELSA practitioners.

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 our own team needs as well as children’s and families had changed dramatically.

To deliver a management training programme to all new managers & rising managers

The lead team continued to offer support and develop a consistent approach by visiting settings formally once a year to identify strengths and areas of support needed for individual sites as well as Managers. This then informs their action plans for the year.

We have developed a detailed programme of support for nursery managers and team members to feel prepared for Ofsted Inspections.

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

The Community element of Growing Places has continued this year, with more and more individuals and families struggling and needing extra support, with food, clothing, necessities like toiletries and household items.

Secured funding for the community works we do & want to develop, in partnership with other agencies to develop this Family Hub.

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.

We continued to develop the intergenerational visits to care homes and now 3 nurseries visit care home at least once a week. We continue to document the outcomes for elders and children during these visits.

We have started a relationship with Ready Generations in support of developing our knowledge of this linked up approach, visiting Belong integrated nursery within the care village in Chester.

Maintenance person recruited, to help maintain standards of repair across all settings and to develop suitable equipment to develop environments that reflect the company vision.

Page 4

Future Plans:

Page 5

FINANCIAL SUMMARY

The ‘Statements of Financial Activity’ shows a year-end surplus of £19,737 The surplus is due to good financial management.

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

Meon Retreat bought 22-23 – Agreed with Board Trustees

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 2.43% on 21/22

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

SETTING
2022/2023		 2021/2022 2020/2021
Mill Hill Nursery £479,949.64 £495,461 £424,170
Cowplain Nursery £275,094.08 £221,851 £141,015
Havant Academy Nursery £366,983.83 £356,215 £274,189
Oak Meadow Nursery £361,348.09 £387,920 £327,941
Morelands Nursery £396,803.42 £394,186 £351,250
Merryfields Nursery £264,600.13 £252,266 £180,962
Oak Meadow OOS £48,218.84 £51,117 £24,188
Morelands After-school £55,778.35 £51,863 £30,547
Mill Hill OOS £89,389.19 £111,670 £66,648
Emsworth After-school(closed May 2022) £6,526.86 £45,326 £21,822
Cowplain After-school £52,047.97 £43,293 £17,181
Berewood After-school £57,568.13 £39,982 *
Little Acorns £115,826.12 £58,250 £10,030

Expenditure

Overall, expenditure has increased by 13.4% against 2022/23, 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.

Page 6

Tangible fixed assets

Total tangible fixed assets are worth £456,558 (22/23), £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 stand at £29,114 a lower amount than 21/22: £40,110. Total debtors of £37,953, includes £8,839 relating to prepayments for Rent, Lease, and SLA

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

Creditor liabilities, £97,654 is higher than previous year. (2022: £87,751)

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 £1,148,025 (22/23), £1,195,042, (21/22), £986,025 20/21). In terms of expenditure this is approx. 42% of expenditure, which

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.

Page 7

g. Growingplaces The Trustees, report was approved bythe trustees of the charity on its behalf by.. nd signed on Trustee Page 8

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

FOR THE YEAR ENDED 31 MARCH 2023

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 2023 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.

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

This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the 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 company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

F J Wilde FCCA MBA DChA Senior Statutory Auditor

20 December 2023

Chartered Certified accountants

Statutory Auditor

Warner Wilde 4 Marigold Drive Bisley Surrey GU24 9SF

F J Wilde FCCA MBA DChA is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
3
42,378
30,000
Charitable activities
5
2,619,263
9,605
Other trading activities
4
1,045
-
Investments
6
3,428
-
Total income
2,666,114
39,605
Expenditure on:
Raising funds
7
6,735
-
Charitable activities
8
2,745,176
-
Other
13
825
-
Total expenditure
2,752,736
-
Net (expenditure)/income
for the year/
Net movement in funds
(86,622)
39,605
Fund balances at 1 April 2022
1,163,116
31,926
Fund balances at 31 March
2023
1,076,494
71,531		 Total Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
72,378
58,091
-
2,628,868
2,573,362
3,580
1,045
1,876
-
3,428
111
-
2,705,719
2,633,440
3,580
6,735
12,600
-
2,745,176
2,414,673
730
825
-
-
2,752,736
2,427,273
730
(47,017)
206,167
2,850
1,195,042
956,949
29,076
1,148,025
1,163,116
31,926		 Total
2022
£
58,091
2,576,942
1,876
111
2,637,020
12,600
2,415,403
-
2,428,003
209,017
986,025
1,195,042

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 ASAT31 MARCH2023 2023 2022 Notèg Flxed a$$ets TangSble assets 14 456,558 316,995 Current assots Debtors Cash at b8nk and in hand 15 37,953 751,168 62,436 903,362 789.121 965,798 Credltor8: amounts tslllng due wlthln ono year 16 {97.6541 {87,7511 Net current assats 691.467 878,047 Total assots less curront Ilabllltlg$ 1,148.025 1,195,042 Incom• funds Rfjstricted lund8 Unr8slricted funds 17 71.531 1,076,494 31,926 1,163.116 1,148,025 1,195,042 The company18 entitled to the exempfjon from the audf( requirement contained in s@ctlon 477 of the Companies Aot 2006, lor the year anded 31 March 2023. although an audll hag been carrfed out under sedon 144 of the Charities Acl 2011. Thg directors acknowledge Ih6lr r8sponsibilllies for complylng wlth the requirements of the Compani6s Ad 2006 wlth respeol lo accounllng records and the preparat(on ol financlal stsltsmenls. The members have not requlred th& company lo obtain an audit of its flnanclal slalemenls under the requlremenls of the Cc>mpanies Act 2006, for the year In questlon In accordance wllh section 476. Th9s8 Ilnandal statements have bean prepared in accordance wlth tha provlslons appllcable to compania8 sublecl lo the small companies regime. The Ilnandal statements were approved by the Trustees on ...... CHAIR Tru$teg Company roglstratlon number 4148695 15

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 2023

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 2023

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 2023

2023
Notes
£
£
Cash flows from operating activities
Cash generated from operations
21
19,737
Investing activities
Purchase of tangible fixed assets
(175,360)
Proceeds on disposal of tangible fixed
assets
-
Interest received
3,428
Net cash used in investing activities
(171,932)
Net cash used in financing activities
-
Net (decrease)/increase in cash and cash
equivalents
(152,195)
Cash and cash equivalents at beginning of year
903,362
Cash and cash equivalents at end of year
751,168		 2022
£
(62,124)
5,139
111		 £
210,691
(56,874)
-
153,817
749,544
903,362

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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 Restricted
Total		 Unrestricted
funds funds funds
2023 2023
2023		 2022
£ £
£		 £
Grants receivable for core activities
42,378 30,000
72,378		 58,091
Grants receivable for core activities
Hampshire County Council - discretion grants 16,552 -
16,552		 -
Fareham BC - -
-		 19,239
HSDC - Apprentices 6,791 -
6,791		 6,663
Connect 4 6,750 -
6,750		 8,355
HMRC SSP - -
-		 5,859
HubHub Foundation - -
-		 3,000
Hampshire County Council - Community Pantry
Grant - 30,000
30,000		 -
Neighbourly Foundation 5,000 -
5,000		 -
Other 7,285 -
7,285		 14,975
42,378 30,000
72,378		 58,091
Other trading activities
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Fundraising events 1,045 1,876

4 Other trading activities

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

FOR THE YEAR ENDED 31 MARCH 2023

5 Charitable activities

Services provided under contract
Performance related grants
Other income
Analysis by fund
Unrestricted funds
Restricted funds		 Childcare
2023
£
2,613,094
-
-
2,613,094
2,613,094
-
2,613,094		 Community
Larder
2023
£
-
9,605
-
9,605
-
9,605
9,605		 Other
2023
£
-
-
6,169
6,169
6,169
-
6,169		 Total
2023
£
2,613,094
9,605
6,169
2,628,868
2,619,263
9,605
2,628,868		 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

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

6 Investments

7 UnrestrictedUnrestricted
funds
funds
2023
2022
£
£
Interest receivable
3,428
111
Raising funds
UnrestrictedUnrestricted
funds
funds
2023
2022
£
£
Fundraising and publicity
Advertising
6,735
12,600
6,735
12,600

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

FOR THE YEAR ENDED 31 MARCH 2023

8 Charitable activities

Charitable
Charitable
Expenditure
Expenditure
2023
2022
£
£
Staff costs 1,801,673
1,651,876
Depreciation and impairment 34,971
31,466
Premises, rent, rates & utilities 247,265
198,771
Childcare - consumables 79,143
76,979
Motor running costs 22,608
15,588
Staff training, uniform & welfare 34,740
26,461
Premises maintenance 31,595
29,977
Cleaning 7,281
7,621
Equipment maintenance 2,756
3,226
Small equipment replacement 1,852
1,989
Loss on disposal of assets -
5,139
2,263,884
2,049,093
Grant funding of activities (see note 9) 139
311
Share of support costs (see note 10) 473,029
358,259
Share of governance costs (see note 10) 8,124
7,740
2,745,176
2,415,403
Analysis by fund
Unrestricted funds 2,745,176
2,414,673
Restricted funds -
730
Grants payable
Charitable
Charitable
Expenditure
Expenditure
2023
2022
£
£
Grants to individuals 139
311
139
311

9 Grants payable

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

10 Support costs

Support
costs
Governance
costs
£
£
Staff costs
375,399
-
Printing, postage,
stationery & copier
13,004
-
Telephone
12,309
-
Legal & professional
13,728
-
Insurance
8,012
-
Subscriptions & licences
11,858
-
IT support and
consumables
10,619
-
Bank charges
428
-
Non child resources
19,149
-
Miscellaneous
8,523
-
Audit fees
-
8,124
473,029
8,124
Analysed between
Charitable activities
473,029
8,124		 2023
£
375,399
13,004
12,309
13,728
8,012
11,858
10,619
428
19,149
8,523
8,124
481,153
481,153		 Support
costs
Governance
costs
£
£
264,371
-
8,131
-
12,511
-
15,239
-
8,787
-
7,793
-
6,012
-
647
-
20,040
-
14,728
-
-
7,740
358,259
7,740
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

Governance costs includes a provision of £6,450 plus VAT (2022: £6,450 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:

2023 2022
Number Number
124 118

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

FOR THE YEAR ENDED 31 MARCH 2023

12
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2023
2022
£
£
1,989,072
1,766,735
140,395
109,404
47,605
40,108
2,177,072
1,916,247

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 £192,855 (2022: £181,668).

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:

2023
Number
£70,000 - £79,999
-
13
Other
Unrestricted
funds
2023
Net loss on disposal of tangible fixed assets
825
825		 2022
Number
1
Total
£
2022
-
-

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

14
Tangible fixed assets
Freehold land
and buildings
Leasehold
land and
buildings
Fixtures and
fittings
Motor vehicles
£
£
£
£
Cost
At 1 April 2022
169,677
143,664
124,582
76,618
Additions
112,315
20,966
32,011
10,068
Disposals
-
(385)
(1,069)
-
At 31 March 2023
281,992
164,245
155,524
86,686
Depreciation and impairment
At 1 April 2022
52,796
-
99,140
45,611
Depreciation charged in the year
3,252
15,298
9,933
6,488
Eliminated in respect of disposals
-
-
(629)
-
At 31 March 2023
56,048
15,298
108,444
52,099
Carrying amount
At 31 March 2023
225,944
148,947
47,080
34,587
At 31 March 2022
158,534
100,740
25,442
32,279
15
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
25,704
Other debtors
3,410
Prepayments and accrued income
8,839
37,953
16
Creditors: amounts falling due within one year
2023
£
Other taxation and social security
22,906
Trade creditors
8,736
Other creditors
50,257
Accruals and deferred income
15,755
97,654		 Total
£
514,541
175,360
(1,454)
688,447
197,547
34,971
(629)
231,889
456,558
316,995
2022
£
39,043
1,066
22,327
62,436
2022
£
21,354
12,046
43,891
10,460
87,751

COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

17 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:

HBC re Community Larder
Saturday Club
Community Larder
Donations
Hampshire County Council
- Community Pantry Grant		 Balance at
1 April 2021
£
7,641
8,099
13,336
-
29,076		 Movement in funds
Incoming
resources
Resources
expended
£
£
-
(730)
-
-
3,580
-
-
-
3,580
(730)		 Movement
in funds
Balance at
1 April 2022
Incoming
resources
31
£
£
6,911
9,605
8,099
-
16,916
-
-
30,000
31,926
39,605		 Balance at
March 2023
£
16,516
8,099
16,916
30,000
71,531

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.

18 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31
March 2023 are
represented by:
Tangible assets
456,558
-
Current assets/
(liabilities)
619,936
71,531
1,076,494
71,531		 TotalUnrestricted
funds
2023
2022
£
£
456,558
310,427
691,467
852,689
1,148,025
1,163,116		 Restricted
funds
2022
£
6,568
25,358
31,926		 Total
2022
£
316,995
878,047
1,195,042

19 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		 2023
£
123,509
434,665
558,174		 2022
£
130,532
474,936
605,468

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

FOR THE YEAR ENDED 31 MARCH 2023

19 Operating lease commitments

(Continued)

20 Related party transactions

There were no disclosable related party transactions during the year (2022 - none) .

21
Cash generated from operations
(Deficit)/surpus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Loss on disposal of tangible fixed assets
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Cash generated from operations		 2023
£
(47,017)
(3,428)
825
34,971
24,483
9,903
19,737		 2022
£
209,017
(111)
-
31,466
(23,626)
(6,055)
210,691

22 Analysis of changes in net funds

The charity had no debt during the year.