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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 04150566 (England and Wales) REGISTERED CHARITY NUMBER: 1089101

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

LORD WILLIAMS'S SCHOOL DAY NURSERY

Seymour Taylor Limited 57 London Road High Wycombe Buckinghamshire HP11 1BS

LORD WILLIAMS'S SCHOOL DAY NURSERY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

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Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Statement of Financial Position 5 to 6
Notes to the Financial Statements 7 to 12
Detailed Statement of Financial Activities 13 to 14
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LORD WILLIAMS'S SCHOOL DAY NURSERY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

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 March 2021. 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

Principal Activities and Charitable Objects

The charity's principal activities and charitable objects are "to enhance the development and education of children under statutory school age in Thame, Oxfordshire, in any manner which is deemed by law to be charitable."

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The charity provided nursery care for children below school age during the year.

There are no plans for either contraction or expansion and the trustees consider that the objects of the charity have been achieved during the year.

A valuable contribution has been made by volunteers consisting of members serving on the management committee and the fundraising sub-committee.

FINANCIAL REVIEW

Statement of Policies

The charity has no policy of investing funds. Sufficient reserves are held to cover the charity's operating requirements.

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

Trustees are recruited from the management committee and/or members as required and are appointed by members at the AGM.

Any individual interested in promoting the objects of the charity, who is acceptable to the trustees, is entitled to become a member.

One parent of each child attending the nursery is automatically entitled to be a member.

Organisational structure

Strategy is decided by the trustees and then implemented by a management committee and sub-committees, which consist of members and parents.

The trustees may sit on any committee and should receive reports on any actions taken by each committee.

The day-to-day running of the nursery is the responsibility of the nursery manager and her deputy, who make recommendations to, and take their instructions from, the management committee.

Relationships with Other Organisations

The charity co-operates closely with Lord Williams's School.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Page 1

LORD WILLIAMS'S SCHOOL DAY NURSERY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 04150566 (England and Wales)

Registered Charity number 1089101

Registered office

3 Manor Courtyard Hughenden Avenue High Wycombe Buckinghamshire HP13 5RE

Trustees

Dr A Clark Mrs G M Emerson Mr R W Harding Mrs S Nicholson

Company Secretary Mr R W Harding

Independent Examiner

Seymour Taylor Limited 57 London Road High Wycombe Buckinghamshire HP11 1BS

Approved by order of the board of trustees on 28 March 2022 and signed on its behalf by:

Mr R W Harding - Trustee

Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LORD WILLIAMS'S SCHOOL DAY NURSERY

Independent examiner's report to the trustees of Lord Williams's School Day Nursery ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

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 registered member of ICAEW 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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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.

Timothy Fulker BSc FCA ICAEW Seymour Taylor Limited 57 London Road High Wycombe Buckinghamshire HP11 1BS

Date: .............................................

Page 3

LORD WILLIAMS'S SCHOOL DAY NURSERY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

2021
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
5,173
Charitable activities
Educational
252,978
Other trading activities
3
1,131
Investment income
4
8
Other income
5
24,477
Total
283,767
EXPENDITURE ON
Charitable activities
Educational
270,798
Other
6,097
Total
276,895
NET INCOME
6,872
RECONCILIATION OF FUNDS
Total funds brought forward
96,404
TOTAL FUNDS CARRIED FORWARD
103,276		 2020
Total
funds
£
-
299,374
3,685
15
-
303,074
292,127
6,650
298,777
4,297
92,107
96,404

The notes form part of these financial statements

Page 4

LORD WILLIAMS'S SCHOOL DAY NURSERY

STATEMENT OF FINANCIAL POSITION 31 MARCH 2021

2021
Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
9
11,196
CURRENT ASSETS
Stocks
10
1,550
Debtors
11
28,291
Cash at bank and in hand
82,731
112,572
CREDITORS
Amounts falling due within one year
12
(20,492)
NET CURRENT ASSETS
92,080
TOTAL ASSETS LESS CURRENT
LIABILITIES
103,276
NET ASSETS
103,276
FUNDS
14
Unrestricted funds
103,276
TOTAL FUNDS
103,276		 2020
Total
funds
£
11,057
1,925
15,622
79,359
96,906
(11,559)
85,347
96,404
96,404
96,404
96,404

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 5

LORD WILLIAMS'S SCHOOL DAY NURSERY

STATEMENT OF FINANCIAL POSITION - continued 31 MARCH 2021

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 28 March 2022 and were signed on its behalf by:

Mr R W Harding - Trustee

The notes form part of these financial statements

Page 6

LORD WILLIAMS'S SCHOOL DAY NURSERY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. GENERAL INFORMATION

Lord Williams's School Day Nursery is a charitable company limited by guarantee and incorporated in England and Wales. The address of the charitable company's registered office is 3 Manor Courtyard, Hughenden Avenue, High Wycombe, Buckinghamshire, HP13 5RE. The registered company number is 04150566 and the registered charity number is 1089101.

The principal activities of the charity are as disclosed within the Report of the Trustees on pages 1 to 2.

The presentation currency of these financial statements is Sterling (£), being the currency of the primary economic market in which the entity operates. All amounts in these financial statements have been rounded to the nearest pound unless stated otherwise.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. 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.

In light of the spread of the Coronavirus "COVID-19" since early 2020, the trustees have given due consideration to expected future cashflows and consider there to be little impact on the charity's ability to act as a going concern.

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.

Government grants

The charitable company receives government grants in respect of the Coronavirus Job Retention Scheme (CJRS).

These grants are recognised using the accruals model at the fair value of the asset received or receivable when there is a reasonable assurance that the charity will comply with conditions attached to them.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - reducing balance - 25% Fixtures and fittings - reducing balance - 25%

Page 7

LORD WILLIAMS'S SCHOOL DAY NURSERY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

2. ACCOUNTING POLICIES - continued

Tangible fixed assets

Equipment and toys - reducing balance - 25%

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

During the year the charitable company did not hold any restricted funds.

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.

3. OTHER TRADING ACTIVITIES

2021
£
Fundraising events
1,131
4.
INVESTMENT INCOME
2021
£
Deposit account interest
8
5.
OTHER INCOME
2021
£
Government grants
24,477		 2020
£
3,685
2020
£
15
2020
£
-

Government grants represent amounts claimed under the Coronavirus Job Retention Scheme (CJRS) in respect of wages and other employment costs of the staff who provide the charitable company's educational services.

Page 8

LORD WILLIAMS'S SCHOOL DAY NURSERY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

6. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

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|||| |---|---|---| |2021|2020| |£|£| |Independent examiner's fees|2,000|2,100| |Depreciation - owned assets|3,733|3,685|

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7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

8. STAFF COSTS

The average monthly number of employees during the year was as follows:

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|||| |---|---|---| |2021|2020| |Employees|16|16|

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No employees received emoluments in excess of £60,000.

9.

TANGIBLE FIXED ASSETS

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|||||| |---|---|---|---|---| |Fixtures| |Plant and|and|Equipment| |machinery|fittings|and toys|Totals| |£|£|£|£| |COST| |At 1 April 2020|5,724|36,270|40,650|82,644| |Additions|-|-|3,872|3,872| |At 31 March 2021|5,724|36,270|44,522|86,516| |DEPRECIATION| |At 1 April 2020|5,092|29,350|37,145|71,587| |Charge for year|159|1,730|1,844|3,733| |At 31 March 2021|5,251|31,080|38,989|75,320| |NET BOOK VALUE| |At 31 March 2021|473|5,190|5,533|11,196| |At 31 March 2020|632|6,920|3,505|11,057|

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Page 9

LORD WILLIAMS'S SCHOOL DAY NURSERY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

10.
STOCKS
Stocks
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
13.
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as
Within one year
Between one and five years		 2021
£
1,550
2021
£
26,513
1,778
28,291
2021
£
10,864
2,781
1,347
5,500
20,492
follows:
2021
£
8,200
11,617
19,817		 2020
£
1,925
2020
£
15,622
-
15,622
2020
£
2,388
1,920
1,751
5,500
11,559
2020
£
8,200
19,817
28,017

Amounts charged to the Income Statement in respect of operating leases is as follows:

Operating leases 2021
£
6,833		 2020
£
8,200

Page 10

LORD WILLIAMS'S SCHOOL DAY NURSERY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

14. MOVEMENT IN FUNDS

At 1.4.20
£
Unrestricted funds
General fund
96,404
TOTAL FUNDS
96,404
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
283,767
TOTAL FUNDS
283,767
Comparatives for movement in funds
At 1.4.19
£
Unrestricted funds
General fund
92,107
TOTAL FUNDS
92,107
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
303,074
TOTAL FUNDS
303,074		 Net
movement
At
in funds
31.3.21
£
£
6,872
103,276
6,872
103,276
Resources
Movement
expended
in funds
£
£
(276,895)
6,872
(276,895)
6,872
Net
movement
At
in funds
31.3.20
£
£
4,297
96,404
4,297
96,404
Resources
Movement
expended
in funds
£
£
(298,777)
4,297
(298,777)
4,297

Page 11

LORD WILLIAMS'S SCHOOL DAY NURSERY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

15. RELATED PARTY DISCLOSURES

During the year the charity paid £6,833 (2020: £8,200) in rent to Lord Williams's School, with which it closely operates.

The charity paid £nil (2020: £1,474) to Lord Williams's School in expenses during the year.

16. ULTIMATE CONTROLLING PARTY

The charity is controlled by the directors who are also the trustees.

Page 12

LORD WILLIAMS'S SCHOOL DAY NURSERY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other trading activities
Fundraising events
Investment income
Deposit account interest
Charitable activities
Fees receivable
Other income
Government grants
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Social security
Pensions
Rates and water
Telephone
Postage and stationery
Advertising
Materials
Consumables
Subcontractors
Staff training and recruitment
Motor and travel
Canteen
Cleaning
Repairs and maintenance
Subscriptions
Bad debts
Depreciation of plant and machinery
Depreciation of fixtures and fittings
Depreciation of equipment and toys
Support costs
Finance
Bank charges		 2021
£
5,173
1,131
8
252,978
24,477
283,767
219,857
8,336
3,245
6,833
999
2,387
-
3,980
423
2,513
1,436
230
9,650
3,875
2,591
367
343
159
1,730
1,844
270,798
70		 2020
£
-
3,685
15
299,374
-
303,074
223,664
8,686
3,213
8,200
988
1,218
2,772
8,193
1,056
2,411
4,954
416
10,855
4,519
4,132
825
2,340
210
2,307
1,168
292,127
60

This page does not form part of the statutory financial statements

Page 13

LORD WILLIAMS'S SCHOOL DAY NURSERY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Finance
Governance costs
Independent examiner's fees
Insurance
Accountancy
Total resources expended
Net income		 2021
£
2,000
1,205
2,822
6,027
276,895
6,872		 2020
£
2,100
1,091
3,399
6,590
298,777
4,297

This page does not form part of the statutory financial statements

Page 14