COMPANY NUMBER.. 04042026 ANNUAL REPORT ANO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR BEECHWOOD EDUCARE CENTRE (A company limited by guarantee) 'ACfj3ZQEH* 18111r2024 COMPANIES HOUSE A10
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COMPANY NUMBER.. 04042026 BEECHWOOD EDUCARE CENTRE CONTENTS OF THE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Legal and Administrative Details Report of th• Dlrector8 Independent Examinerfs Report Staternent of Financlal Actlvltles Balance Sheet Notes to the Flnanclal Slatements Delalled Income and Expendlture Account 10
COMPANY NUMBER.. 04042026 BEECHWOOD EDUCARE CENTRE LEGAL AND ADMINSTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2024 DIRECTORS: Denis George Storey Barbara Ann Johnstone Tina John50n Rachael Louise Simms Kevin James Simms REGISTERED OFFICE: High Hopes at Longview Knowsley Lane Primary School Astley Road Huylon Llverpool L36 8D8 COMPANY NUMBER: 04042026 (England and Wales) CHARITY NUMBER: 1090050 (England and Wales) INDEPENDENT EXAMINER Keith J Miller FCA John Kerr - Chartered Accountants 375 Eaton Road Wesl Derby Liverpool L12 2AH BANKERS: Barclays Bank PLC Leicesler LE87 288 Page 1
COMPANY NUMBER: 04042026 BEECHWOOD EDUCARE CENTRE REPORT OF THE OIRECTORS {INCORPORATING THE TRUSTEES, ANNUAL REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The directors of the company (who are also charity Iruslees for the purposes of charity law), present their report with the financial slalemenls of the charitable company for the year ended 31 March 2024 which are also prepared lo meet the requirements for a trustees. report and accounts for Charity Law purposes. The legal and administrative details Set out on page 1 form part of Ihis report. The financial slatements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Artides of Association and Accounting and Reporting by Charilies.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective 1 January 2019. OUR PURPOSES AND ACTIVITIES The purposes and aclivilies of the charilable company are lo advance the education and development ol children living in the North Huyton areas of Merseyside and the wider community by the provision of high quality nursery care & out of school facilitie5 and working in partnership with other agencies to secure the widest range of seNices is available that best matches the needs of our clienl population. In shaping our objectives for the year and planning our artlvilles, the direclors have considered the Charity Commission's guidance on public benefit, including the 9uidance 'public benefil.. runnin9 a charity {PB2>'. The charity relie5 on Ihe income from fee5, charges and grants to cover its operating costs. Afft)rdats'lily and acce5S to our facilities is important lo us and is refleGt8d in our pricing policy. ACHIEVEMENTS, PERFORMANCE AND PLANS FOR THE FUTURE The results for the year and financial position of the charitable company are as shown in the annexed financial stalemenl8. The charity, with the support of both ils staff and volunteers continues to provide much needed services by the provision of high quality nursery care & out of school facilities. The charity has seen a steady demand for its services and has had some success in obtaining commitments for future funding lo enable il lo further its aims. The directors are continuing lo seek additlonal funding lo support future operational plans. The lalesl Ofsted inspection report rated overall effectiveness as Good. RESERVES POLICY AND GOING CONCERN Reserves are needed to bridge the gap between the spending and receiving of income and lo cover unplanned emergency repairs and other expenditure. The directors have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets {'the free reserves'l held by the charity should be between 6 and 9 months of the resources expended. which equates to betsveen approximately £205,500 to £308,250 in general funds. At this level. the directors feel that they would be able to continue the current activities of the charity in the event of a significant drop in funding. Al 31 March 2024 the free reserves amounted lo £78,758 and are below the target level. The directors are considering ways in which additional unreslricl8d rese¢ves can be raised. In pparIng the accounls, the directors Consider that the charitable company has sufficient resources to Continue operations for the foreseeable future. STRUCTURE, GOVERNANCE ANO MANAGEMENT The organisalion is a charitable company limited by guarantee. incorporated on 27 July 2000 and registered as a charity on 11 January 2002. Members of the charilable company guarantee to contribute an amount not exceeding £10 in the event ofthe charity winding up. The company is govemed by the policies made from time lo time by the directors together with the temis of ils Memorandum and Articles of Association which sel oul the objects and powers of the company. The procedures for the appointment, retirement and removal of directors a sel out in the Articles. All directors are encouraged to attend appropriate exleTnal training events where these will facilitate the undertaking of their role. The day lo day operational aspects of the charity have been delegated to the Manager and her team. DIRECTORS The directors during the year under review, who were appointed by the members in accordance with procedures set o¢Jt in the Memorandum and Articles, were.. Denis George Storey Barbara Ann Johnslone Tina Johnson Kevin James Simms- appointed 14 July 2023 Rachael Louise Simms- appointed 14 July 2023 Page 2
COMPANY NUMBER.. 04042026 BEECHWOOD EDUCARE CENTRE REPORT OF THE DIRECTORS (INCORPORATING THE TRUSTEES, ANNUAL REPORT) FOR THE YEAR ENDED 31 MARCH 2024 - continued RELATED PARTIES None of the directors receive remuneration or other financial benefit from their work with the charity and any Contractual felalionship wilh a relaled party must be disclosed to the full board, In the current yeai. no such related paty transactions were reported. RISK MANAGEMENT The directors have a risk management strategy which comprises.. an annual review of the principal risks and uncertainties that the charity faces and. the eslablishmenl of policies, systems and procedures lo mitigate those risks identified in the annual review; and the implemenlalion of procedures designed to minimise or manage any potential impact on the charity should those rlsks materi81ise. Financial sustainability is the major financial risk for the charity. A key element in the management of financial risk is regular review of available liquid funds lo settle debts as they fall due and acts've management of trade debtors and creditor balances lo ensure sufficient working capital is available. Attention has also been focused on non-financial risks arising from child protection, fire, health and safety and food hygiene. These risks are managed by ensuring procedures and accreditations are up lo date, having robust policies in place, and gular awareness training for staff and volunteers in these operational areas. Standards are monitored both internally and extemally io ensure consistent quality of delivery for all operational aspe¢ts of the charity. The COVID-19 pandemic creatèd a major challenge with a high level of UrertainlY lor many charities The charity took prompt action lo protect cash flow including reducing oulgoings and taking advantage of govemment support grants. RESPONSIBILITIES OF THE DIRECTORS IN RELATION TO THE FINANCIAL STATEMENTS The directors are responsible for preparing an annual report and financial statements in accordance with applicable law and United Kingdom Accounllng Slandards (United Kingdom Generally Accepled AcGounling Praclice>. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditu, of Ihe charitable company for that period. In preparing the financial statements, they are required to.. seled suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent., slate whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial slalemenls., prepare the financial statements on thé going concern basis unless it is inapproprlate to presume that the charitable company will continue on that basis. The directors are iesponsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and to enable Ihem to ensure that the financial statements comply with the Companie5 Act 2006. They are also rèsponsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This port has been prepared in accordance with the special provisions of Part 15 of the Companies Act 20C6 relating to small companies. BY ORDER OF THE BOARD OF DIRECTORS Kevin James Simms- Director Date Page 3
COMPANY NUMBER.. 04042026 INDEPENDENT EXAMINER'S REPORT TO THE DIRECTORS OF BEECHWOOD EDUCARE CENTRE I report to the directors on my examination of the accounts of the charitable company for the year ended 31 March 2024 which are set out on pages 5 to 9. This report is made to the board of directors. as a body. in a¢cordance with the tems of the engagement. To the fullest extent permitted by law, I do not accept or assume responsibility lo anyone other Ihan the charitable company and the directors, as a body, for my work or for this report. Responsibilities and basis of report As the directors of the charitable company (and also ils trustees for the purposes of charity law) you are responsible for the preparation of the accounts in accordance with the requirements of thè Companies Act 2006 ('the 2006 Acl')- Having satisfied myself that the accounts of the company are not required lo be 8udiled 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 Charits'es Act 2011 (the .2011 Act')- In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{51(b) of the 2011 Act. Independent oxamlner's report Since the charitable company's gross income exceeded £250.000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of The Inslilule of Chartered Accounlanls in England and Wales. which is one of the listed bodies. I have completed my examination. I confirm that no matters have come lo my attention in connection with the examin81ion 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 accounting records.. or the accounts do not comply with the accounting requirements of seclion 396 of the 2006 Act other than any requirement thal the accounts give a'true and fair vlew. 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 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019. I have no concems and have come across no other matters in connection with the examination to which allenlion should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Keith Iller FCA Joh Kerr - Chartered A¢¢ountants 37S Eaton Road West Derby Liverpool Merseyside L12 2AH Date Page 4
COMPANY NUMBER.. 04042026 BEECHWOOO EDUCARE CENTRE STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 31.3.2024 31.3.2023 Unrestrlcted Income funds: Income: Grants and donations - operation of childcafe centre 241,947 219.316 Fees- operats.on of childcare centre 206,523 147,032 Interest on employment taxes Total income 448,479 366,348 Expendlturn: Costs of operation of childcare centre 408,381 448,288 Governance costs 2,610 2,610 Total expenditure 410.991 448,898 Net Incomellexpenditure) for the year and net movement in funds (see notes 2 & 71 37,488 (82,550) Reconclliatlon of fund• Totsl funds brought forward 123 820 Totsl funds carrled forward The slalement of financial activities incorporates the income and expenditure account. The slalement of finanaal aclivilies includes all gains and losses recognised in the year. All income and expenditure derives from continuing 8Ctivitie$. The notes form part of these financial slatemenls Page 5
COMPANY NUMBER.. 04042026 BEECHWOOD EDUCARE CENTRE BALANCE SHEET 31 MARCH 2024 31.3.2024 31.3.2023 Notes FIXEO ASSETS Tangible assets CURRENT ASSETS Debtors Cash at bank and in hand 36,513 58.128 19,273 47,384 94,641 66,657 LIABILITIES Creditors falling due within one year 15.885 25,927 NET CURRENT ASSETS 40.730 TOTAL ASSETS LESS CURRENT LIABILITIES 41,270 THE FUNDS OF THE CHARITY Unreslricled income funds 10 41.270 TOTAL CHARITY FUNDS 78.758 The company is entitled lo exemption from audit under Section 477 of the Companie8 Act 2006 for the yèar ended 31 March 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 M8rch 2024 in accordance with Section 476 of the Companies A¢t 2006. The directors acknowledge their responsibilities for.. (a) ensuring that the company keeps accounting records which 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 company as at the end of each financial year and of ils income and expenditure for each financial year in accordance with the requirements of Sections 394 and 395 and which olhewise comply with the requirements of the Companies Act 2006 relabng to financial slalements, so far as applicable lo the company. These financial slalements have been prepared in accordance with the specS8l provlsions of Part 15 of the Companies Act 2006 relating to small companies and conslitule the annual accounts required by the Companies Act 2006 and are for Circulation lo the members of Ihe company. The financial slalements ivefe approved by the Board of Directors and authorised for issue on and were signed on ils behalf by.. Kevin James Simms - Director The notes form part of these financial statements Page 6
COMPANY NUM8ER.' 04042026 BEECHWOOD EDUCARE CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows.. Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reportin9 Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Beechwood Educare Centre meets the definition of a public benefrt entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Preparation of the accounts on a going concern basis In preparing the accounts, the directors have taken account of the financial resources available to the charity and consider that the charity should be able lo continue operations for the foreseeable fulure. Incom• rncognltlon Items of income are recognisèd and included in the accounts when all of the following criteria are met.. the charity has entitlemenl to the funds- any performance conditions attached lo the item(s) of income have been met or ar8 fully within the control of the charity.. there is sufficient certainty that receipt of the income is considered probable; and the amount can measured reliably. The value of services provided by volunteers has not been included in these accounts. Expenditure recognition Expenditure is recognised once there is a legal or constructive obligation to make a payment lo a third party. it is probable that settlement will be required and the amount of the obligation can be measured reliably. Penslon costs The charitable company operates defined contribution pension schemes. Contributions payable lo the company's pension schemes are charged to the Statement of Financial Activities in the period lo which they relate. TangSble fixed 8s8ets Tangible fixed assets are staled at cost less accurnulated depreciation. DepreGlallon is provided at rates calculated to wrlte off the cost of each asset over ils expected useful life.. Fixtures & equipment - 200/0 on cost NET EXPENDITURE This is staled after charging.. 31.3.2024 31.3.2023 Independent examination and accountancy costs Depreaation Directors, emoluments, expenses and benefits 2,610 538 2,610 537 The dlreclors were noi paid nor did they receive any other benefits from employment with the charity in the year (2023.. £nil) neither were they reimbursed expenses during the year (2023.. £nil). No director received payment for professional or other services supplied lo the charity (2023: £nil). CORPORATION TAX The charity is exempt from tax on income and gains to Ihe extent that these are applied to its charitable objects. Page 7
COMPANY NUMBER.. 04LM2026 BEECHWOOD EDUCARE CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024- continued TANGIBLE FIXED ASSETS Fixtures & equipment Total$ COST Al 1 April 2023 Additions Disp05als 121,309 121,309 At 31 March 2024 121,309 121,309 DEPRECIATION At 1 April 2023 120,769 120,769 Charge for year 538 538 At 31 March 2024 121,307 121,307 NET 800K VALUE At 31 March 2024 At 31 March 2023 540 540 DEBTORS 31.3.2024 31.3.2023 Trade debtors net of bad and doubtful debt provisions Other debtors 36,513 19,264 36.513 19,273 CREDITORS FALLING DUE WITHIN ONE YEAR 31.3.2024 31.3.2023 Trade creditors Social security and other taxes Accruals and deferred income Other creditors 1,298 4.699 9,057 831 5,936 10,057 9.093 841 ANALYSIS OF STAFF COSTS AND STAFF NUMBERS 31.3.2024 31.3.2023 Wages and salaries {No employee had emoluments in excess of £60.000) Social security costs Employers National Insurance Pension contributions 305,991 9,697 295.945 11,388 319,635 311,102 The average monthly head count during the year was as follows.. 31.3.2024 31.3.2023 Operation of childcare centre 21 20 FRC ETHICAL STANDARD- PROVISIONS AVAILABLE FOR SMALL ENTITIES In common with many other charilies of our size and nature we use our Independent Examiner to assist with the preparation of the financial statemenls. Page 8
COMPANY NUMBER.. 04042026 BEECHWOOD EDUCARE CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2024 - contlnued LEGAL STATUS OF THE CHARITY The charity is a private company, limited by guarantee. registered in England and Wales and has no share capital. In the event of the charitable company being wound up. the liability in respect of the guarantee is limited to £10 per member of the company. The company's registered number and registered office address can be found on page 1. 10. ANALYSIS OF CHARITABLE FUNDS Unrestrlcted income funds Al 1 April 2023 41,270 Incomin9 resources Outgoing resources 448.479 (410,991) At 31 March 2024 - represented by total assets less current liabilities At 1 April 2022 123,820 Incomin9 resources Outgoing resources 366,348 (448.898} At 31 March 2023 - represented by lolal assets less current liabilities 41,270 Page 9
COMPANY NUMBER". 04042026 BEECHWOOD EDUCARE CENTRE DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 31.3.2024 31.3.2023 Income: Fees receivable other grants and donations 206,523 241.947 147,032 219.316 448.470 366.348 Bank InteSt Interest on employment taxes 448,479 366,348 Expenditu. Staffing costs Rent, service charges, light, heal & power Insurances Telephone and ¢ommunr¢alion systems Travelling Subscriptions & registrations Repairs, renewals & cleaning Staff welfare & hospitality Recruitment, postage, slalionery 8 publicity Accountancy and examination fees Professional, legal and safeguarding fees Food & nursery requisites Equipment hire Bad and doubtful debt provisions (release) Fixtures and fittings deprèciation Bank and card processing charges Interest on employment laxes 319.635 31,664 5,294 3,019 107 844 10,247 2.302 1,893 2,610 7,113 32,269 5,210 113,648) 538 778 311.102 28,783 4,887 4.433 67 703 15,149 1,076 1.670 2,610 6.479 30,905 2.930 36.565 537 1,002 410991 448,898 Net Incornel{expenditurel Page 10