REcI￿RED COMPANY NUMBER: 04102880 (Engjand Wbles) REcisfERED CHARrrY NUMBER: 11195582 18 Wwdlands Park Bexley DA5 2EL *AA)K71CO" 1711212021 cO￿ANIEs HOUSE 1111 A23 #219 Acorn Coniettts of the Fin 21 RerMJrtof thc Twustees Indwdent Examinels Rewrt Statement of Financial AclivitÉCS BaJan¢¢ Sht* Cash Flow Stst¢m¢rt Notes ￿ th¢ C&%h Fkjw StsteMe￿I Note5 to the Financia] StstrJneDts 10 ty 16 Detailed Statementof Financial Actiwbties l7 ￿ 18 rt of the Trustr£5 the Year The mBtee5 who are also dirttK*s of the charity for the purp)ses of the C&7irAnies Ad 2￿. their with the finan¢ial statem¢nts of thc tharity f(Y th¢ year ended 31 March 2021. The trustees have wlopted the prtsvisw)ns of AeKounting and Rep)rtin8 by CTharitie5". Statemert of Recommended Pr&Xice applicable ￿ chariiies preparing their ae¢ounts in aCcord￿tt with the FinaTrcia] RerA)rting Ststkdard applicable in the UK ￿ Republic of Ireland IFRS 102) Itff#tive l January 2019). 0￿￿￿1vEs AND AcllviTIES Obj¢etiv¢s atld aim$ The ¢ornpany's main activities art to *JvanrA the th*i¢)n of (hildm in Bexl¢y. knt atkl the Sur￿l￿dIng aTtas by providing saf¢ and satisfying facslities for play,. and to ry0v￿e ￿ a55is1 in the provisiort of facilitie5 for Ttereatiort or other kisur¢ time occupation for ¢hildren in the inttre5ts of K￿la) welfare WMI wtth the objeLt of improving their CO[￿1tionS of lif4 The company ha5 the followingslatynent of purpjse.. s￿£M¢￿tOf FI￿￿7S¢ l The pnwision of high quality thrdabie day caTt kilities foT the daily rwre4tion and ￿lOn of pr¢-s¢hool children. 2 The development and suppyt of initiatives whKth enl￿nee tr* life skills and abilitie5 of prtrschcd ¢hildren. 3 The developrnent of oui of scknl a￿d holiday provision for schcKJl 88¢ thildreD. 4 Trdining artd employment OPPLthili¢s of ryo¥￿Ill8 cx educ*ion and Jr¢reation facilities. Th¢ company is registered with Ofstyi •kn18ll aFvrrTxiate p)li¢ies are in place. Slgtsificgnt *ctivitie5 The company provides day ¢art f¥ilities for the daily caTt, re¢rtation athl ducation of prtrschcM)l thildm. and pwvides out of sclKul and ￿)710 provision for SCI￿1 age ¢hildT¢n up to th¢ age of I l. Ptsblit benefit The charity has had ward to the Charity Comrnissiffi'$ guidance rm public t*nefit and¢￿id¥S that it fully cornplie& VolvnteeTS The company mkn use of volurteeT5kn p)sstble, p*￿larlY in fund r3i5ing CV¢nL%. STRATEGIC REPORT AohÉevernent perfom• Ch•ritsble activitits The ¢¢ntre is fvlly subsuiw, with a waiiJn8 list for plxcs. Fyndraising ACtivitX5 Whil# the majority of thding ortw frcrtn fees and gmts, th¢ trlwees are tscful for the ￿lS￿nCe given in other fundraising ¥tivili¢s in the year. These included the pirnk day. ￿ Chri5tffla5 fi￿￿￿1$i￿g. rtof the Trustees srii4TEGIC REPORT Achievemertt *nd ￿rform*n¢t Intrrnal and exitrnal factors Whi15t th¢T¢ is some COMP￿lI10n f￿rn other pre s¢hool fxilitits the trus*es art cLmfidcDt th* there will be a neal for th¢ ￿1] useof the company's facilitie5 for the fowtable firture. The truske5 are acthely aware of the rxed recwuit •KI witable 9￿1r￿j ￿ motivthl and aff tsking active steps to ¢nswe job satisfxtwjn. Grants ar¢ applied for for speufic projeLts whi¢h have Includ￿ the bu1￿￿n8 U)sts &Thl the provisi￿ of equiprnent. The buildin8 is Y¢laDv¢ty new and tt is ntsi anticip*ed th&*)y major u)95 will arise in this in the near fu￿￿e. The pl￿niS￿ aff own&1 by Kent County CowKil (KCCI rmvided the maprity of the funding for th¢ buihlinB. The ompany paid a Ii)tsl of £151.603 towards the ￿lIId ¢ost of phase l. A rent free wi(¥J wffil 31M July 2(KJ8 was ncgotiated to tak¢ a££wntof this Capi￿ Imjtlay. Rent h&s been p•d ffom this da*. A receffl rent rtview has t¢sultoJ in a wential si8nific4nt irKrra5c in the mt payable, backdated to the date of the reni revicw. This h&8 ail pThided for in these a(c4)u￿. Rffit review art evtsy five ye4r% the next due in 2023. The Covid 19 pandemir wE5u]t¢d in the temw*ary cktsure of the Ccntr< exw for ¢hilthtn of keywoTker& This had detrirnentsi ¢ff¢¢t (My the income whilst this Wds in P￿tt. The Charity is rryotiatins with in5Lwers to ¢ovet the k)sses in this Period atjd Js confidtnt of 5UCCCS5. thc l￿panY alg) wived a 8r4nt via C￿￿)L and fvrlouth¢d numberof #aff whilst the w&s not able to fully opeo. Fin•4eial r¢vl¢w Fin*nci¥l position Aft¢T making fvll T>fovi5ion for an iTKreAse in the charity has made a def￿11 for th¢ year. The final outcome of the rent negotiations rvnains The charity's balance Sheet rcmain5 Strvng. Prine1￿1 fvadl•gsourtes The majotity of the fvnding for th¢ tornwy t¥>mts th￿8h fees for plac¢5. Some of this ts ¥WVern￿ funded. It 1$ anticipated that this will continue itt the fvtwe. Addiiionai]y grants are f¢xmaiorpJr>je InV￿ent ￿leY and obi¢dives Surplus fi￿d5 ar¢ retained in bank dep)sits urtil used. The trustees seek to rn￿1￿15e Tntttest 88ineAI withc*rt subjecting the fill￿ to any risk. Reserves policy The t￿St￿$ hiv¢ forecast the kvel of free re5er¥es.lthat 1$ dM)se fun& lied up Èn fixcd assets designatd or T￿triCted furtdsl. The tnJstX5 Wrn5idcT that the ftM)x 8ppDpriate level of frce res¢Tve$ 8t 31st March 2020 would be equivalent to three monihs exper￿1￿￿¢. Whil# the current Icvcl of reserves may prove rt is the ￿$t¢¢5 view that it is pwdent to ¢rLsure that ihete are sufficiem free r%¢rv¢s to pmvide finamat flexibility. A finart¢ial summary is wtsentcd the Tnts1￿ for infwrnat￿ft r￿¢￿. FIn￿la1 atrYon8ements are atso reviewed as nettss•y.. Coing eott¢¢rn Th¢ a¢¢4)uth¢s have tr*en prepared on a going b¥1& The effe£ts of the Covid 19 paMltyni¢ we exp￿￿ to impad the Chartty lo an extent that this would aff￿ thi& Princi￿1 risks *Bd uncertsinties Th¢ princip81 r￿S are the Covid 19 1*￿emic aNI a wyssi￿e lOn￿r *rni alw continue ￿ be the filli of the available nursery plxes. ThE latter 1$ being mitigated by the employment of gcoj stsff and trainin8 kading to the enhanced repu￿10￿ of itntse. Tr latw Ofs*d rer￿ ( Swernber 2018) ¢wlydpl that the nwsery wa5 gses. Expressi￿$ of irtt¢rtS¢ in the post ¥e always welcgMnE. Org*nisation•l struetsrt The centre is run on a day to day b&sis under the control of the Matkger tO8ether with htT senw mana8emeJrt te4m comprising a dewty a F#Jsine55 mana8er. The trustes are le8a]ly resp￿sIble for the over811 and control of th¢ ccntre and trysttts meet a minimum of three tim¢s &y¢ar. Key maTrageme4rt TemtsnerAIio Key manag¢m¢N ￿ paid at eompditive Tatesknslml￿r nurseries. Wider neM*rk The ¢harity 1$ t￿1 aifiliknl with ¥my otherth*ity. Reixted partits There are rKS r¢latyJ ￿tr¢S. Risk m•A*ymeDI The ￿slee$ have a duty kn idmiify and re¥i•w the ri5k5 kn which the ¢lwity is exrA)s&J aT¥J to ￿￿re aroropriate ¢othirois are in place to rewnabl¢ ￿s￿anCe against fra￿] and error. The tnLoee5 have ¢*Yia a d¢tailed Yeview and produced 3 5tsatrgi¢ plan S¢tting oui the m3ior opp(thniti¢s available to the charity and the risks to which Èt is exwsed. Th¢ tn￿*¢9 mortLtor pnwess ynst the Str￿egI¢ objectives set out in ￿ plan, As p￿ of this prrp2ss the trus*es have implemr￿￿￿ a risk mana8emeftt that compris¢s". An annual review of the risks th* the ¢hariTy may face. - The establishmeni of systems and procedure5 ￿ mitigate those risks iskntifiryj in tr pi8D" and - The irpplementation of pr￿ed￿r¢S designed ￿ minimise ￿ p)kntiai rm[￿ on the charity sl¥)uJd ￿Y of th)s¢ risks materialise REFERENCE AND ADMINISTrATIVE DETAIiS Regi5tsred Compny Rumber 04102880 (England and Walcs) Registsred ChArity numb¢r 1095582 Re ort of the Trnstees i5t¢red Joy House Franklin Road Kent DA2 7UZ Trusttts Ms J Htll Ms R Barf¢r C R¢id S Webtr¢r Company Setretsry Mrs C Fthimwi Indep¢nd¢#t Examifjer Latham La￿￿UMe Ltd 18 Woodlands Pat* Btxlty Kent DAS 2EL ReFN)rt of the trustrffj inc￿rating a strntrgi¢ WXYL approved by order of the iLwd of tr• as the company directots. on...... and si8n&4 on the trf)uds bthajf by.. C Reid- Trustee It7de corns Earl Yell sRe rtlol Indtpendeni 2iJuniner's report to the In￿lee5 of Acorns E*rty Yoxrx Centr¢ Ctht Company.) I wort ¢0 the thariiy mt51¢es on rny examtnarion of thE of ts Q)mp3ny fty the year ¢ndel 31 Mav¢h 3021. Responsibilities bu$is of reptsrr As the ¢harity'5 Injstees of the Company (ond 81s0 its dirtaors for the purpi%£s t)f compony Ibw) yoii responsible for th¢ fvYeyr41ion of Ihe a¢¢oun¢s ac¢ordante iviih the rrquir¢m¢nts of the Complnies Act 2006 ('Ihe 20[￿ Aci,). l.livirtg S81isfied myself lh* lh¢ •¢counlS of the Company we TO be fi￿￿￿1ed under P•rt 16 of Ihe Att and ar2 eliBiblc for indcpcTraeni e.Yaminetion. l in Trspcet of my examintttion of tharTrV$ 2ccouots Is rAYried oui Under 5ecii9n 145 of Ihe Ch2ri1i¢s Act 2011 I'the 2011 Aa.). In thnying oui my examinuiffi I h8Yt follow¢d th¢ Dir¢cLions given by ihe Ch¥ity Commisslon under xcitr)n 14515) (b) ofihe 2011 Act. liidependent tx•mlner's ststemenl Since your thttr4tg5 grD5S 1Th￿rn¢ ￿re¢ded £250,000 your ex4rniner rnu5t be a member of A limed body. T ¢onfirn) Ihai l im qUalif￿d to u#dertak¢ the exAminaiion bccaw l am a rcBi#ued membtr of ICAEIV ii,hi¢h is onc of thc lisicd bodies. I hav¥ eornpleied my &¥amination. l ¢onfirm thai no rna￿ have Lixne th my ottentbon In Cortneciion with the eXAmIn￿l0￿ giving Ine causeto believe". BthniinÈ rccords WEfC noi k¢pi in re5peci of ilkcompany ¥ rrytred by 386 2006 Ae¢ or the a¢¢eunis do noi RE￿1 wilh ihose record5", or Iht ￿011nl5 do noi comply with Ihc KcountinB r4uiremeM5 of seaion 396 of IhE 2006 Act vthtr any r¢qui￿￿e￿I Thai the a¢￿U￿ts gi¥e J and f•ir view whi¢h 1$ • mAtter tonsidered ￿ part. of an ind¢wd¢ni ex2minaiioD', or Ihe ac¢ounis havo noi bEcn PT¢PS￿d in KffjTdznce widi thc fft¢tluxls apd prinGipl¢s of th¢ Swgmeiii or Recommended Pr8¢1ice for a¢¢oyniing and [C￿rtIng by cboriiies (applIC8b￿ ￿ cknrities w¢paring ih¢ir accoun iii accord￿1￿¢ wilh tht Finan¢iNI Reportin¥ Sia¢id8rd applicable in Il* UK And Republic of ITclond (FRS 102)). I hav¢ 110 wrrfcrns and have cDme KfOS> Th) other maller5 Ml conneai¢Jn Wbth the L¥0minatson io whieh arneniton Should bc drBWTr in thi$ r¢pffi in order ￿tt￿ble8 ¥nder5thndin8of the Hc(¥xmts w bl rrached. Jolith Lambotsrne ICAEW Lalham LHmbourne L exley Kcni DAS 2EL Dak.. tatement f Fin Activi nt rthe Year nded 31 Marth 2021 31J21 Totsl fund5 31.3.20 fiJTh(Ls fun& funds INCOMÈ AND ENDOWMENfs FROM Donation$ and lega¢i¢s Charilabk Fee5 for plx Nursery COS 468.639 92h35 586.1)43 Other tradkng activities Invcstm¢nt in¢om¢ lJ40 227 57 Tot*1 564.1197 587.810 EXPENDITURE ON Raising fvnd$ Ch*rityblt x£tiviti F¢es for pla¢¢s NuTS¢ry ¢ pr4wing these financiaj siatements, as r (19J63) TOTAL FUNtAs (581460) (19J63) Page 14 Noies to the Financial S￿¢ forthe - &)ntiThL*d h2021 17. MOVEMENT IN FUNDS- ¢onliDued Co•pArBtives for movem*bt ity h#ds Net At 31.3.20 At l.4.l9 in Unrestricttd fund5 General fund Fixa Assets F￿d 216.776 9.077 (30529) 186.247 9.077 225,853 {30J29) 195.324 TOTAL FUNDS 225.853 (30J29} 195 J24 Incomtng R¢5ourtes expended Movement in fvnds Uthresttri¢ted fuDds G¢nerdl fvnd $87.810 {618J39) (30529) TOTAL FUNDS 587.810 1618J39) {30.529) A ¢urrent year12 zThl prioryear 12 mo￿h5 combined p)sitvm i$ a5 follows.. Net At 31.3.21 Atl.4.19 UDre5tritted funds General fi￿d Fixed Assets FLmd 216.776 9.077 (49.892) 166,884 9.077 2￿.853 {49.892) 175.961 225,853 (49,892) 175.961 A ¢urr¢N year 12 M￿tIL% prxK year 12 ¢oMbin￿l movement ITh fund% included in the akne are as follows.. Incoming Movement in fimd5 Unreslrictsj funds I.151.￿? (1.201,799) {49,8W2) TOTAL FUNDS 1.151,gX17 (1201.799) (49,892) Pagc 15 iiwued... the Financial Ststements- eontinL forthe Year Ended 31 March 2021 RELATED PARTY DISCiA)SURES There were no r¢l#ed party trans￿ forthe year ¢nd&l 31 Mw¢h X)21. P4e 16 Cen Dettiled Stat l Activiiies 21 313.21 31.3.20 INCOME AND EP4DOWMENrs Don•¢ions and legacies tksnations (hkrtradiThg Activitie5 FU￿draISIrS events 1.723 Iffivestmettt income tkp)sita¢¢ouni inlerest 57 227 Ch•Yitsble *ctiwitie5 569.704 Colla1￿tion fvndin8 Insuran¢e receipts 1.750 J3915 7&720 16J39 561374 586.043 Totsl ineoming rtSOUTC¢S 587.810 EXPENDITURE R*isingdow*tiOnS legaci Sundri¢s Charitsbk activiti 430.964 26.872 7.636 36.1￿) 4.847 2.728 7,473 774 So¢ial security PensÉon5 23J25 4&61J Rates and water Insuranc¢ Light and heat T¢lcphone Pos¢age and ststionery Advthti$irtg SUI￿ries AdiMty supplies Training Catering Cleaning Rep￿T5 & mwntenanc¢ Subs¢riptions Software SUPP )n8 leaschohl Fixwre5 and fittings 3386 7th81 Im7 2.111 467 1.122 13.929 lJ65 37.891 l9.15l 3.146 2.926 2283 12,016 2,554 8570 L016 2WI 19.726 7595 1917 2.711 11016 581,073 617.035 This p￿¢ frym prt of the fin￿191 slatemu*5 Ler*￿¢ i f Financial ALti nded l March 31J21 31.320 Sumjort costs Governinte costs A￿0￿￿tancY f¢¢s Bank Gharges Professional fees 810 810 62 432 496 618.3J9 *xp¢odityre (19J63) (30.529) Page18