REGISTERED COMPANY NUMBER: 04001165 (England and Wales) REGISTERED CHARITY NUMBER: 1088332
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2024
for Yorkies Daycare
George Hay Partnership LLP Chartered Accountants Unit 1B Focus 4 Fourth Avenue Letchworth Hertfordshire SG6 2TU
Yorkies Daycare
Contents of the Financial Statements for the Year Ended 31 August 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 13 |
Yorkies Daycare (Registered number: 04001165)
Report of the Trustees for the Year Ended 31 August 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
In this financial year we have provided free or discounted wraparound care for a total of six children, and we continue to offer places and sessions free of charge when the need arises or in emergencies such as parents or carers requiring childcare arrangements to attend hospital or other appointments. We also offer respite where close or immediate family members are chronically or gravely ill. We also offer childcare where a parent or carer needs to attend funerals. Many of our parents have no family in the area, we have also provided extra sessions for parents when a new baby has arrived.
Of the six children offered space three of those children had a Special Educational Need. We offered graduated sessions to two of them to allow access to childcare as it was deemed that they wouldn't be able to cope with a full day. A child remained on our books from last year as the subject of a Social Work Care order and help was provided to enable much needed sessions to improve their overall attendance before moving on to school. We also provided this family with Groceries when they were forced to move to temporary accommodation. The third child with SEN continues to receive support from us at the end of the day free of charge. One of the children had a relative who was in a very bad accident and the parents of this child were expected to care for the family member at short notice and we discounted sessions in the afternoon to enable them to care for their relative before carer's funds were sorted out. This family also suffered a bereavement in the same accident and Yorkies offered as many free sessions as were needed to get them over their predicament.
As well as offering free sessions to the other two children one of whom had expected SEN needs, the other behavioural needs, we paid for Play Therapy to allow the children to be able to regulate themselves when at Nursery. We provided free breakfast clubs to a child within the school whose mum was heavily pregnant and struggling to get her child to our school after dropping her other children off at a school much further away.
All families identified as requiring extra help over holidays and Christmas were referred to North Herts District council for various grants available for families facing hardship. We continue to reinforce our links with the school
We continue to encourage Parents of both Yorkies and the school to speak to us if they have changing or challenging circumstances, for example parental illness, and the effects of redundancy on our families. We expect our charity spaces to be still in demand in the future due to the rising cost of living and feel well placed to help our families in the coming year.
Page 1
Yorkies Daycare (Registered number: 04001165)
Report of the Trustees for the Year Ended 31 August 2024
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Yorkies are providing remuneration towards repairs and renewals at York Road Nursery School as the school has suffered from Education Budget cuts and the fabric of the building remains old and in need of repair. That continues this year with money benchmarked for the refurbishment of toilets and a new changing area which will required under the new EYFS guidelines due to come into practice next year, to provide a dignified yet safeguarded place for children to change or be changed.
We created a child sized kitchen where the children will themselves be able to cook and prepare simple food under the supervision of adults. The wood working area was also upgraded for us. Yorkies helped create a new sandpit area in the garden as the wood in the old one had rotted. We contributed to the new caretaker's shed and the cost of our own tools to undertake jobs ourselves. Our biggest contribution to the school this year has been 6 new interactive whiteboards in the classrooms.
We partially funded the creation of a school owned food bank for parents to use free of charge should they need to. We continue to stock this food bank with any unused food throughout the week. This has been extended to the area around York Road and is now our community foodbank.
The trustees have complied with their duty in having due regard to the guidance on public benefit, as published by the Charity Commission, in exercising their powers and duties.
FINANCIAL REVIEW
Financial position
This year incoming resources amounted to £283,286, (2023 - £293,865), whilst expenditure amounted to £284,080 (2023 - £275,054). This resulted in net expenditure of £794 compared to a net income of £18,811 in 2023.
The trustees are grateful to all those who have contributed in any way to achievement of these results.
Reserves policy
The Memorandum of Association has established that where the financial balances (sum of unrestricted funding and restricted salary funds) fall below a value equivalent to two months wage costs against known projected income figures a committee meeting will be convened, with H.C.C Early Childhood Unit invited to attend. The trustees will consider how funds can be replaced. Currently the financial balances are £157,904 (2023 - £158,698) which is above the value of 5 (2023 - 5) months' wages costs against known projected income figures.
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
New trustees are nominated by members of the board of trustees, interviewed by a panel of trustees and appointed where they have the necessary skills to contribute to the charity's management and development.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04001165 (England and Wales)
Registered Charity number
1088332
Page 2
Yorkies Daycare (Registered number: 04001165)
Report of the Trustees for the Year Ended 31 August 2024
Registered office York Road Nursery York Road Hitchin Hertfordshire SG5 1XA
Trustees Ms L B Fox (appointed 1.11.24) Ms L A Mitchell Director Ms D M Szanto Nursery Nurse Ms D P Frainer Headteacher (resigned 1.11.24) Company Secretary Ms L A Mitchell
Independent Examiner George Hay Partnership LLP Chartered Accountants Unit 1B Focus 4 Fourth Avenue Letchworth Hertfordshire SG6 2TU
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. Trustee
Page 3
Independent Examiner's Report to the Trustees of Yorkies Daycare
Independent examiner's report to the trustees of Yorkies Daycare ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Emma Wilsher FCA
George Hay Partnership LLP Chartered Accountants Unit 1B Focus 4 Fourth Avenue Letchworth Hertfordshire SG6 2TU
Date: .............................................
Page 4
Yorkies Daycare
Statement of Financial Activities for the Year Ended 31 August 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Charitable Activities 280,623 Investment income 2 2,663 Total 283,286 EXPENDITURE ON Charitable activities Charitable Activities 286,134 Net gains/(losses) on investments 2,054 NET INCOME/(EXPENDITURE) (794) RECONCILIATION OF FUNDS Total funds brought forward 158,698 TOTAL FUNDS CARRIED FORWARD 157,904 |
2023 Total funds £ 291,500 2,365 293,865 270,128 (4,926) 18,811 139,887 158,698 |
|---|---|
The notes form part of these financial statements
Page 5
Yorkies Daycare (Registered number: 04001165)
Balance Sheet 31 August 2024
| 2024 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 14,169 Investments 8 56,674 70,843 CURRENT ASSETS Debtors 9 3,000 Cash at bank 92,757 95,757 CREDITORS Amounts falling due within one year 10 (8,696) NET CURRENT ASSETS 87,061 TOTAL ASSETS LESS CURRENT LIABILITIES 157,904 NET ASSETS 157,904 FUNDS 11 Unrestricted funds 157,904 TOTAL FUNDS 157,904 |
2023 Total funds £ - 52,948 52,948 82 127,096 127,178 (21,428) 105,750 158,698 158,698 158,698 158,698 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
Yorkies Daycare (Registered number: 04001165)
Balance Sheet - continued 31 August 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
Page 7
Yorkies Daycare
Notes to the Financial Statements for the Year Ended 31 August 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Improvements to property 25% Straight line Fixtures and fittings 20% Straight line Computer equipment 20% Straight line
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Investments
Fixed asset investments comprise of investments in equity instruments which are measured at fair value. Changes in fair value are recognised in the income statement. Fair value is based on market values provided by Raymond James the Company's Investment Advisers.
Page 8
continued...
Yorkies Daycare
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
2. INVESTMENT INCOME
| 2. INVESTMENT INCOME |
||
|---|---|---|
| Other fixed asset inv - UnFII Deposit account interest 3. NET INCOME/(EXPENDITURE) |
2024 £ 2,130 533 2,663 |
2023 £ 1,992 373 |
| 2,365 | ||
Net income/(expenditure) is stated after charging/(crediting):
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation - owned assets | 727 | - | |
| 4. | TRUSTEES' REMUNERATION AND BENEFITS | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Trustees' salaries | 40,944 | 29,779 |
The total trustees remuneration including pension contribution for 2024 was £40,944 (2023 - £29,779).
The total employee benefits including pension contributions of the key management personal were £3017.
The charity trustees were not paid or received any other benefits from employment with the charity in the year (2023 - £0). No charity trustee received payment for professional or other services supplied to the charity (2023 - £0)
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Trustees Staff |
2024 2 15 17 |
2023 3 12 |
|---|---|---|
| 15 |
No employees received emoluments in excess of £60,000.
Page 9
continued...
Yorkies Daycare
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Charitable activities | |
| Charitable Activities | 291,500 |
| Investment income | 2,365 |
| Total | 293,865 |
| EXPENDITURE ON | |
| Charitable activities | |
| Charitable Activities | 270,128 |
| Net gains/(losses) on investments | (4,926) |
| NET INCOME | 18,811 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 139,887 |
| TOTAL FUNDS CARRIED FORWARD | 158,698 |
7.
TANGIBLE FIXED ASSETS
| Improvements to property £ COST At 1 September 2023 14,985 Additions - At 31 August 2024 14,985 DEPRECIATION At 1 September 2023 14,985 Charge for year - At 31 August 2024 14,985 NET BOOK VALUE At 31 August 2024 - At 31 August 2023 - |
Fixtures and Computer fittings equipment £ £ 3,554 - 12,198 2,698 15,752 2,698 3,554 - 407 320 3,961 320 11,791 2,378 - - |
Totals £ 18,539 14,896 |
|---|---|---|
| 33,435 | ||
| 18,539 727 |
||
| 19,266 | ||
| 14,169 | ||
| - |
Page 10
continued...
Yorkies Daycare
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
8. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 September 2023 Additions Disposals Revaluations At 31 August 2024 NET BOOK VALUE At 31 August 2024 At 31 August 2023 There were no investment assets outside the UK. Cost or valuation at 31 August 2024 is represented by: Valuation in 2022 Valuation in 2023 Valuation in 2024 Cost 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments and accrued income |
Listed investments £ 52,948 4,740 (2,906) 1,892 56,674 56,674 52,948 Listed investments £ (3,551) (3,501) 3,726 60,000 56,674 2024 2023 £ £ - (100) 3,000 182 3,000 82 |
|---|---|
Page 11
continued...
Yorkies Daycare
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Social security and other taxes Other creditors Accruals and deferred income |
2024 £ - 3,074 3,402 2,220 8,696 |
2023 £ 2,168 1,503 1,558 16,199 |
|---|---|---|
| 21,428 |
11. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 283,286 TOTAL FUNDS 283,286 |
At 1.9.23 £ 158,698 158,698 Resources expended £ (286,134) (286,134) |
Net movement At in funds 31.8.24 £ £ (794) 157,904 (794) 157,904 Gains and Movement losses in funds £ £ 2,054 (794) 2,054 (794) |
|---|---|---|
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.9.22 £ 139,887 139,887 |
Net movement in funds £ 18,811 18,811 |
At 31.8.23 £ 158,698 |
|---|---|---|---|
| 158,698 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 293,865 293,865 |
Resources expended £ (270,128) (270,128) |
Gains and Movement losses in funds £ £ (4,926) 18,811 (4,926) 18,811 |
|---|---|---|---|
Page 12
continued...
Yorkies Daycare
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.9.22 £ 139,887 139,887 |
Net movement in funds £ 18,017 18,017 |
At 31.8.24 £ 157,904 |
|---|---|---|---|
| 157,904 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 577,151 577,151 |
Resources expended £ (556,262) (556,262) |
Gains and Movement losses in funds £ £ (2,872) 18,017 (2,872) 18,017 |
|---|---|---|---|
12. RELATED PARTY DISCLOSURES
The charity is connected to York Road Nursery & Pre School, During the year the charity received income of £90,640 and expenditure in respect of £39,000 for rent and repairs costs
There were no other related party transactions.
Page 13
REGISTERED COMPANY NUMBER: 04001165 (England and Wales) REGISTERED CHARITY NUMBER: 1088332
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2024
for Yorkies Daycare
George Hay Partnership LLP Chartered Accountants Unit 1B Focus 4 Fourth Avenue Letchworth Hertfordshire SG6 2TU
Yorkies Daycare
Contents of the Financial Statements for the Year Ended 31 August 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 13 |
| Detailed Statement of Financial Activities | 14 | to | 15 |
Yorkies Daycare
Report of the Trustees for the Year Ended 31 August 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
In this financial year we have provided free or discounted wraparound care for a total of six children, and we continue to offer places and sessions free of charge when the need arises or in emergencies such as parents or carers requiring childcare arrangements to attend hospital or other appointments. We also offer respite where close or immediate family members are chronically or gravely ill. We also offer childcare where a parent or carer needs to attend funerals. Many of our parents have no family in the area, we have also provided extra sessions for parents when a new baby has arrived.
Of the six children offered space three of those children had a Special Educational Need. We offered graduated sessions to two of them to allow access to childcare as it was deemed that they wouldn't be able to cope with a full day. A child remained on our books from last year as the subject of a Social Work Care order and help was provided to enable much needed sessions to improve their overall attendance before moving on to school. We also provided this family with Groceries when they were forced to move to temporary accommodation. The third child with SEN continues to receive support from us at the end of the day free of charge. One of the children had a relative who was in a very bad accident and the parents of this child were expected to care for the family member at short notice and we discounted sessions in the afternoon to enable them to care for their relative before carer's funds were sorted out. This family also suffered a bereavement in the same accident and Yorkies offered as many free sessions as were needed to get them over their predicament.
As well as offering free sessions to the other two children one of whom had expected SEN needs, the other behavioural needs, we paid for Play Therapy to allow the children to be able to regulate themselves when at Nursery. We provided free breakfast clubs to a child within the school whose mum was heavily pregnant and struggling to get her child to our school after dropping her other children off at a school much further away.
All families identified as requiring extra help over holidays and Christmas were referred to North Herts District council for various grants available for families facing hardship. We continue to reinforce our links with the school
We continue to encourage Parents of both Yorkies and the school to speak to us if they have changing or challenging circumstances, for example parental illness, and the effects of redundancy on our families. We expect our charity spaces to be still in demand in the future due to the rising cost of living and feel well placed to help our families in the coming year.
Page 1
Yorkies Daycare
Report of the Trustees for the Year Ended 31 August 2024
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Yorkies are providing remuneration towards repairs and renewals at York Road Nursery School as the school has suffered from Education Budget cuts and the fabric of the building remains old and in need of repair. That continues this year with money benchmarked for the refurbishment of toilets and a new changing area which will required under the new EYFS guidelines due to come into practice next year, to provide a dignified yet safeguarded place for children to change or be changed.
We created a child sized kitchen where the children will themselves be able to cook and prepare simple food under the supervision of adults. The wood working area was also upgraded for us. Yorkies helped create a new sandpit area in the garden as the wood in the old one had rotted. We contributed to the new caretaker's shed and the cost of our own tools to undertake jobs ourselves. Our biggest contribution to the school this year has been 6 new interactive whiteboards in the classrooms.
We partially funded the creation of a school owned food bank for parents to use free of charge should they need to. We continue to stock this food bank with any unused food throughout the week. This has been extended to the area around York Road and is now our community foodbank.
The trustees have complied with their duty in having due regard to the guidance on public benefit, as published by the Charity Commission, in exercising their powers and duties.
FINANCIAL REVIEW
Financial position
This year incoming resources amounted to £283,286, (2023 - £293,865), whilst expenditure amounted to £284,080 (2023 - £275,054). This resulted in net expenditure of £794 compared to a net income of £18,811 in 2023.
The trustees are grateful to all those who have contributed in any way to achievement of these results.
Reserves policy
The Memorandum of Association has established that where the financial balances (sum of unrestricted funding and restricted salary funds) fall below a value equivalent to two months wage costs against known projected income figures a committee meeting will be convened, with H.C.C Early Childhood Unit invited to attend. The trustees will consider how funds can be replaced. Currently the financial balances are £157,904 (2023 - £158,698) which is above the value of 5 (2023 - 5) months' wages costs against known projected income figures.
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
New trustees are nominated by members of the board of trustees, interviewed by a panel of trustees and appointed where they have the necessary skills to contribute to the charity's management and development.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04001165 (England and Wales)
Registered Charity number
1088332
Page 2
Yorkies Daycare
Report of the Trustees for the Year Ended 31 August 2024
Registered office York Road Nursery York Road Hitchin Hertfordshire SG5 1XA
Trustees
Ms L B Fox (appointed 1.11.24) Ms L A Mitchell Director Ms D M Szanto Nursery Nurse Ms D P Frainer Headteacher (resigned 1.11.24)
Company Secretary
Ms L A Mitchell
Independent Examiner
George Hay Partnership LLP Chartered Accountants Unit 1B Focus 4 Fourth Avenue Letchworth Hertfordshire SG6 2TU
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. Trustee
Page 3
Independent Examiner's Report to the Trustees of Yorkies Daycare
Independent examiner's report to the trustees of Yorkies Daycare ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Emma Wilsher FCA
George Hay Partnership LLP Chartered Accountants Unit 1B Focus 4 Fourth Avenue Letchworth Hertfordshire SG6 2TU
Date: .............................................
Page 4
Yorkies Daycare
Statement of Financial Activities for the Year Ended 31 August 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Charitable Activities 280,623 Investment income 2 2,663 Total 283,286 EXPENDITURE ON Charitable activities Charitable Activities 286,134 Net gains/(losses) on investments 2,054 NET INCOME/(EXPENDITURE) (794) RECONCILIATION OF FUNDS Total funds brought forward 158,698 TOTAL FUNDS CARRIED FORWARD 157,904 |
2023 Total funds £ 291,500 2,365 293,865 270,128 (4,926) 18,811 139,887 158,698 |
|---|---|
The notes form part of these financial statements
Page 5
Yorkies Daycare
Balance Sheet 31 August 2024
| 2024 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 14,169 Investments 8 56,674 70,843 CURRENT ASSETS Debtors 9 3,000 Cash at bank 92,757 95,757 CREDITORS Amounts falling due within one year 10 (8,696) NET CURRENT ASSETS 87,061 TOTAL ASSETS LESS CURRENT LIABILITIES 157,904 NET ASSETS 157,904 FUNDS 11 Unrestricted funds 157,904 TOTAL FUNDS 157,904 |
2023 Total funds £ - 52,948 52,948 82 127,096 127,178 (21,428) 105,750 158,698 158,698 158,698 158,698 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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Yorkies Daycare
Balance Sheet - continued 31 August 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
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Yorkies Daycare
Notes to the Financial Statements for the Year Ended 31 August 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Improvements to property 25% Straight line Fixtures and fittings 20% Straight line Computer equipment 20% Straight line
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Investments
Fixed asset investments comprise of investments in equity instruments which are measured at fair value. Changes in fair value are recognised in the income statement. Fair value is based on market values provided by Raymond James the Company's Investment Advisers.
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Yorkies Daycare
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
2. INVESTMENT INCOME
| 2. INVESTMENT INCOME |
||
|---|---|---|
| Other fixed asset inv - UnFII Deposit account interest 3. NET INCOME/(EXPENDITURE) |
2024 £ 2,130 533 2,663 |
2023 £ 1,992 373 |
| 2,365 | ||
Net income/(expenditure) is stated after charging/(crediting):
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation - owned assets | 727 | - | |
| 4. | TRUSTEES' REMUNERATION AND BENEFITS | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Trustees' salaries | 40,944 | 29,779 |
The total trustees remuneration including pension contribution for 2024 was £40,944 (2023 - £29,779).
The total employee benefits including pension contributions of the key management personal were £3017.
The charity trustees were not paid or received any other benefits from employment with the charity in the year (2023 - £0). No charity trustee received payment for professional or other services supplied to the charity (2023 - £0)
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Trustees Staff |
2024 2 15 17 |
2023 3 12 |
|---|---|---|
| 15 |
No employees received emoluments in excess of £60,000.
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Yorkies Daycare
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Charitable activities | |
| Charitable Activities | 291,500 |
| Investment income | 2,365 |
| Total | 293,865 |
| EXPENDITURE ON | |
| Charitable activities | |
| Charitable Activities | 270,128 |
| Net gains/(losses) on investments | (4,926) |
| NET INCOME | 18,811 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 139,887 |
| TOTAL FUNDS CARRIED FORWARD | 158,698 |
7.
TANGIBLE FIXED ASSETS
| Improvements to property £ COST At 1 September 2023 14,985 Additions - At 31 August 2024 14,985 DEPRECIATION At 1 September 2023 14,985 Charge for year - At 31 August 2024 14,985 NET BOOK VALUE At 31 August 2024 - At 31 August 2023 - |
Fixtures and Computer fittings equipment £ £ 3,554 - 12,198 2,698 15,752 2,698 3,554 - 407 320 3,961 320 11,791 2,378 - - |
Totals £ 18,539 14,896 |
|---|---|---|
| 33,435 | ||
| 18,539 727 |
||
| 19,266 | ||
| 14,169 | ||
| - |
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Yorkies Daycare
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
8. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 September 2023 Additions Disposals Revaluations At 31 August 2024 NET BOOK VALUE At 31 August 2024 At 31 August 2023 There were no investment assets outside the UK. Cost or valuation at 31 August 2024 is represented by: Valuation in 2022 Valuation in 2023 Valuation in 2024 Cost 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments and accrued income |
Listed investments £ 52,948 4,740 (2,906) 1,892 56,674 56,674 52,948 Listed investments £ (3,551) (3,501) 3,726 60,000 56,674 2024 2023 £ £ - (100) 3,000 182 3,000 82 |
|---|---|
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Yorkies Daycare
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Social security and other taxes Other creditors Accruals and deferred income |
2024 £ - 3,074 3,402 2,220 8,696 |
2023 £ 2,168 1,503 1,558 16,199 |
|---|---|---|
| 21,428 |
11. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 283,286 TOTAL FUNDS 283,286 |
At 1.9.23 £ 158,698 158,698 Resources expended £ (286,134) (286,134) |
Net movement At in funds 31.8.24 £ £ (794) 157,904 (794) 157,904 Gains and Movement losses in funds £ £ 2,054 (794) 2,054 (794) |
|---|---|---|
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.9.22 £ 139,887 139,887 |
Net movement in funds £ 18,811 18,811 |
At 31.8.23 £ 158,698 |
|---|---|---|---|
| 158,698 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 293,865 293,865 |
Resources expended £ (270,128) (270,128) |
Gains and Movement losses in funds £ £ (4,926) 18,811 (4,926) 18,811 |
|---|---|---|---|
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Yorkies Daycare
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.9.22 £ 139,887 139,887 |
Net movement in funds £ 18,017 18,017 |
At 31.8.24 £ 157,904 |
|---|---|---|---|
| 157,904 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 577,151 577,151 |
Resources expended £ (556,262) (556,262) |
Gains and Movement losses in funds £ £ (2,872) 18,017 (2,872) 18,017 |
|---|---|---|---|
12. RELATED PARTY DISCLOSURES
The charity is connected to York Road Nursery & Pre School, During the year the charity received income of £90,640 and expenditure in respect of £39,000 for rent and repairs costs
There were no other related party transactions.
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Yorkies Daycare
Detailed Statement of Financial Activities for the Year Ended 31 August 2024
| INCOME AND ENDOWMENTS Investment income Other fixed asset inv - UnFII Deposit account interest Charitable activities Childcare fees Total incoming resources EXPENDITURE Charitable activities Trustees' salaries Wages Social security Pensions Activity and material costs Payroll costs Staff Uniforms Training costs Management fees Support costs Management Rent, Rates and water Insurance Telephone Postage and stationery Sundries Catering Gifts and rewards Recruitment costs Finance Bank charges Information technology Repairs and renewals Software Other Fixtures and fittings Carried forward |
2024 £ 2,130 533 2,663 280,623 283,286 40,944 170,085 1,862 8,765 3,694 2,347 - 2,687 799 231,183 17,851 535 549 1,077 350 10,377 200 826 31,765 623 10,680 1,941 12,621 407 407 |
2023 £ 1,992 373 |
|---|---|---|
| 2,365 291,500 |
||
| 293,865 29,779 142,171 1,026 8,433 5,229 3,840 84 2,192 4,313 |
||
| 197,067 33,805 546 548 574 35 9,168 1,573 2,511 |
||
| 48,760 546 19,867 2,941 |
||
| 22,808 - - |
This page does not form part of the statutory financial statements
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Yorkies Daycare
Detailed Statement of Financial Activities for the Year Ended 31 August 2024
| Other Brought forward Computer equipment Governance costs Accountancy and examination fees Professional fees Legal fees Total resources expended Net (expenditure)/income before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments Net (expenditure)/income |
2024 £ 407 320 727 3,625 2,090 3,500 9,215 286,134 (2,848) 2,054 (794) |
2023 £ - - - - - 947 947 270,128 23,737 (4,926) 18,811 |
|---|---|---|
This page does not form part of the statutory financial statements
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