Registration number: 04081149 ## Union Grove Community Nursery (A company limited by guarantee) Annual Report and Unaudited Financial Statements for the Year Ended 31 December 2020 DP Associates Unit 2 Beech Barn Eaglewood Park Whitelackington Ilminster Somerset TA19 9DQ ## **Union Grove Community Nursery** ## **Contents** |Company Information|1| |---|---| |Directors' Report|2| |Accountants' Report|3| |Profit and Loss Account|4| |Statement of Comprehensive Income|5| |Balance Sheet|6| |Statement of Changes in Equity|7| |Notes to the Unaudited Financial Statements|8 to 10| |Detailed Profit and Loss Account|11 to 13| ## **Union Grove Community Nursery** ## **Company Information** **Directors** Reverend Penny Rose-Casemore Mr David Popely **Registered office** 110 Union Road First Floor London SW8 2SH **Accountants** DP Associates Unit 2 Beech Barn Eaglewood Park Whitelackington Ilminster Somerset TA19 9DQ Page 1 ## **Union Grove Community Nursery** ## **Directors' Report for the Year Ended 31 December 2020** The directors present their report and the financial statements for the year ended 31 December 2020. ## **Directors of the company** The directors who held office during the year were as follows: Reverend Penny Rose-Casemore Mr David Popely ## **Principal activity** The principal activity of the company is Childrens day nursery ## **Small companies provision statement** This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the Board on 19 July 2021 and signed on its behalf by: ......................................... Reverend Penny Rose-Casemore Director Page 2 ## **Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of Union Grove Community Nursery for the Year Ended 31 December 2020** In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Union Grove Community Nursery for the year ended 31 December 2020 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us. This report is made solely to the Board of Directors of Union Grove Community Nursery, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Union Grove Community Nursery and state those matters that we have agreed to state to the Board of Directors of Union Grove Community Nursery, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Union Grove Community Nursery and its Board of Directors as a body for our work or for this report. It is your duty to ensure that Union Grove Community Nursery has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Union Grove Community Nursery. You consider that Union Grove Community Nursery is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of Union Grove Community Nursery. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. ...................................... DP Associates Unit 2 Beech Barn Eaglewood Park Whitelackington Ilminster Somerset TA19 9DQ 19 July 2021 Page 3 ## **Union Grove Community Nursery** ## **Profit and Loss Account for the Year Ended 31 December 2020** |**Note**
Turnover
Cost of sales
Gross surplus
Administrative expenses
Operating surplus
Surplus before tax
3
Surplus for the financial year
The above results were derived from continuing operations.|**2020**
**£**
367,943
(261,269)
106,674
(99,534)
7,140
7,140
7,140|**2019**
**£**
531,216
(355,553)| |---|---|---| |||175,663
(109,655)| |||66,008| |||66,008| |||66,008| |||| The company has no recognised gains or losses for the year other than the results above. The notes on pages 8 to 10 form an integral part of these financial statements. Page 4 ## **Union Grove Community Nursery** ## **Statement of Comprehensive Income for the Year Ended 31 December 2020** |Surplus for the year
Total comprehensive income for the year|**2020**
**£**
7,140
7,140|**2019**
**£**
66,008| |---|---|---| |||66,008| The notes on pages 8 to 10 form an integral part of these financial statements. Page 5 ## **Union Grove Community Nursery** ## **(Registration number: 04081149) Balance Sheet as at 31 December 2020** |**Note**
**Fixed assets**
Intangible assets
4
**Current assets**
Debtors
5
Cash at bank and in hand
**Creditors**: Amounts falling due within one year
6
**Net current assets**
**Net assets**
**Capital and reserves**
Profit and loss account
Shareholders' funds|**2020**
**£**
22,249
961
245,658
246,619
-
246,619
268,868
268,868
268,868|**2019**
**£**
28,605
1,391
251,107| |---|---|---| |||252,498
(19,375)| |||233,123| |||261,728| |||261,728| |||261,728| For the financial year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities: - The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved and authorised by the Board on 19 July 2021 and signed on its behalf by: ......................................... Reverend Penny Rose-Casemore Director The notes on pages 8 to 10 form an integral part of these financial statements. Page 6 ## **Union Grove Community Nursery** ## **Statement of Changes in Equity for the Year Ended 31 December 2020** |At 1 January 2020
Surplus for the year
Total comprehensive income
At 31 December 2020
At 1 January 2019
Surplus for the year
Total comprehensive income
At 31 December 2019|**Profit and loss**
**account**
**£**
261,728
7,140
7,140
268,868
**Profit and loss**
**account**
**£**
195,720
66,008
66,008
261,728|**Total**
**£**
261,728
7,140| |---|---|---| |||7,140| |||268,868| |||**Total**
**£**
195,720
66,008| |||66,008| |||261,728| The notes on pages 8 to 10 form an integral part of these financial statements. Page 7 ## **Union Grove Community Nursery** ## **Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020** ## **1 General information** The company is a company limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation. The address of its registered office is: 110 Union Road First Floor London SW8 2SH These financial statements were authorised for issue by the Board on 19 July 2021. ## **2 Accounting policies** ## **Summary of significant accounting policies and key accounting estimates** The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. ## **Statement of compliance** These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. ## **Basis of preparation** These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. ## **Revenue recognition** Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities. ## **Goodwill** Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made. Page 8 ## **Union Grove Community Nursery** ## **Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020** ## **Amortisation** Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: **Asset class** ## **Amortisation method and rate** 10% straight line ## **Cash and cash equivalents** Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. ## **Trade debtors** Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. ## **Trade creditors** Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. ## **Leases** Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. ## **3 Profit before tax** Arrived at after charging/(crediting) |Amortisation expense|**2020**
**£**
6,356|**2019**
**£**
6,356| |---|---|---| Page 9 ## **Union Grove Community Nursery** ## **Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020** ## **4 Intangible assets** |**Cost or valuation**
At 1 January 2020
At 31 December 2020
**Amortisation**
At 1 January 2020
Amortisation charge
At 31 December 2020
**Carrying amount**
At 31 December 2020
At 31 December 2019
**5**
**Debtors**
Trade debtors
**6**
**Creditors**
**Creditors: amounts falling due within one year**
**Due within one year**
Trade creditors||**Goodwill**
**£**
63,563||**Total**
**£**
63,563
63,563
34,958
6,356
41,314
22,249
28,605
**2019**
**£**
1,391| |---|---|---|---|---| |||63,563||| |||34,958
6,356||| |||41,314||| |||22,249||| |||28,605||| |||**2020**
**£**
961
961
**2020**
**£**
-||| |||||1,391| |||||**2019**
**£**
19,375| Page 10 ## **Union Grove Community Nursery** ## **Detailed Profit and Loss Account for the Year Ended 31 December 2020** |Turnover (analysed below)
Cost of sales (analysed below)
Gross surplus
Gross surplus (%)
**Administrative expenses**
Employment costs (analysed below)
Establishment costs (analysed below)
General administrative expenses (analysed below)
Finance charges (analysed below)
Depreciation costs (analysed below)
Operating surplus
Surplus before tax|**2020**
**£**
367,943
(261,269)
106,674
28.99%
-
(77,371)
(15,555)
(252)
(6,356)
(99,534)
7,140
7,140|**2019**
**£**
531,216
(355,553)| |---|---|---| |||175,663| |||33.07%
(1,521)
(87,048)
(14,336)
(394)
(6,356)| |||(109,655)| |||66,008| |||66,008| This page does not form part of the statutory financial statements. Page 11 ## **Union Grove Community Nursery** ## **Detailed Profit and Loss Account for the Year Ended 31 December 2020** |**Turnover**
Fee income
Grant income
Job Retention Scheme
**Cost of sales**
Classroom supplies
Agency staff
Wages and salaries (excluding directors)
Hire of other assets (Operating leases)
**Employment costs**
Staff training
**Establishment costs**
Rent and rates
Service charge
Water rates
Light, heat and power
Insurance
Repairs and maintenance
Other premises costs
**General administrative expenses**
Telephone and fax
Office expenses
Computer software and maintenance costs
Printing, postage and stationery
Trade subscriptions
Hire of other assets (Operating leases)
Sundry expenses
Cleaning
Legal and professional fees
**Finance charges**
Bank charges|**2020**
**£**
163,134
170,390
34,419
367,943
(9,299)
-
(251,970)
-
(261,269)
-
(37,456)
(29,188)
(773)
(3,662)
(2,104)
(760)
(3,428)
(77,371)
(3,899)
(31)
(689)
(270)
(166)
(2,970)
(710)
-
(6,820)
(15,555)
(252)|**2019**
**£**
294,663
236,553
-| |---|---|---| |||531,216| |||(16,259)
(2,674)
(335,130)
(1,490)| |||(355,553)| |||(1,521)| |||(41,462)
(32,231)
(1,188)
(3,979)
(2,775)
(2,632)
(2,781)| |||(87,048)| |||(4,202)
-
(2,257)
(463)
(769)
-
(196)
(220)
(6,229)| |||(14,336)| |||(394)| This page does not form part of the statutory financial statements. Page 12 ## **Union Grove Community Nursery** ## **Detailed Profit and Loss Account for the Year Ended 31 December 2020** **Depreciation costs** Amortisation of goodwill |**2020**|**2019**| |---|---| |**£**|**£**| |(6,356)|(6,356)| This page does not form part of the statutory financial statements. Page 13