Charity registration number 1098211 (England and Wales)
BURNHOLME COMMUNITY NURSERY
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
BURNHOLME COMMUNITY NURSERY
CONTENTS
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 - 11 |
BURNHOLME COMMUNITY NURSERY
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Kate Adamson Karen Todman Martin Todman Nina Holliday Mark Briggs (Resigned 20 May 2024) David Harrison Sarah Neale (Appointed 26 June 2024) Charity number 1098211 Principal address Burnholme Nursery The Centre Mossdale Avenue Bad Bargain Lane York YO31 0HA Independent examiner Frances Howard FCA Fortus Limited Business Advisors and Accountants Equinox House Clifton Park Shipton Road York YO30 5PA Bankers Nat West Bank Plc 1 Market Street York YO1 8SR
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BURNHOLME COMMUNITY NURSERY
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
The legal and administrative information page forms part of this report.
Objectives and activities
The charity’s objects are:
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To advance quality care and education for young children (primarily under statutory school age) by promoting learning and offering a relevant and appropriate programme of activities which will take into account cultural, religious and social backgrounds.
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To enhance the whole development (physical, social and emotional) of children primarily under statutory school age by encouraging the study of the needs of such children and their families and promoting public interest in and recognition of such needs in the local area.
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To offer opportunities for parents to take responsibility for and to become involved in the activities of the nursery and where possible the wider community.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Burnholme nursery continues to provide high quality, year round childcare for all our children (9 months to 5 years), we understand each child’s individual needs and support them in everyday play.
The nursery continues to provide childcare for over 50 children over the week (up to 30 children each day) and includes a mix of funded and private fee paying families. The nursery offers the new and existing government funded childcare schemes for 2, 3 and 4 year olds and are preparing for the expanded scheme to all children over 9 months old who qualify for the funding. This government initiative for families is making a difference for the working parents accessing this support. The Nursery includes a small number of children and their families with Special Educational Needs.
The Nursery has implemented an on-line platform to communicate with parents on the children’s daily experiences and the learning environment for the children in our care and is proving to be very helpful approach.
The Nursery increased the fees in January 2024 and implemented pay increases December 2023 to ensure experienced Nursery Practitioners are receiving an hourly rate in line with the Real Living Wage recommendations. Currently we have a management team and core team of full and part-time experienced nursery practitioners supported by those providing supplementary services and an apprentice.
Update since 31[st] March 2024
The Committee reviewed and approved a change to the constitution in July 2024 to include a paid employee (Nursery Manager and Ofsted nominated individual) to be part of the governing body due to Ofsted regulations. Changes were also made to facilitate the transition to CIO.
The Nursery committee has agreed to change the structure to a Charitable Incorporated Organisation and has joined a group of local charity run nurseries to provide a collaborative space to discuss and share experiences with aspects such as this.
Pay rises and fee increases are under discussion for implementation in the last quarter of 2024 and the first quarter of 2025.
Financial review
The net income for the year was £24,230 (2023: £11,428).
The current level of free reserves is £138,297 (2023: £102,567) after lease commitments. The charity’s reserves are maintained to enable us to meet any liabilities if the nursery closed. The reserves provide flexibility should additional staff be taken on during the financial year. It is proposed that this policy is reviewed annually following the financial end of year.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that policies are in place to mitigate exposure to the major risks.
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BURNHOLME COMMUNITY NURSERY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and management
The charity adopted its constitution on 19 September 2002 and amended it on 13 February 2003, and again on 26 June 2024.
The executive committee (trustees) shall consist of not less than four members and not more than ten members. In addition the executive committee may appoint no more than two co-opted members. Each appointment is to be made at a meeting of the executive committee and will take effect from at the end of that meeting. All members of the executive committee shall hold office for an initial period of 3 years that will then be reviewed.
The trustees' report was approved by the Board of Trustees.
Karen Todman
Trustee
27 January 2025
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BURNHOLME COMMUNITY NURSERY
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BURNHOLME COMMUNITY NURSERY
I report to the trustees on my examination of the financial statements of Burnholme Community Nursery (the charity) for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants, 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 that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
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 financial statements to be reached.
Frances Howard FCA
Fortus Limited Business Advisors and Accountants
Equinox House Clifton Park Shipton Road YO30 5PA York
Dated: 28 January 2025
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BURNHOLME COMMUNITY NURSERY
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income | |||
| Charitable activities | 2 | 278,453 | 235,769 |
| Other trading activities | 3 | 316 | 472 |
| Investments | 4 | 614 | 200 |
| Total income | 279,383 | 236,441 | |
| Expenditure | |||
| Charitable activities | 5 | 255,153 | 225,013 |
| Net income for the year | |||
| Net movement in funds | 24,230 | 11,428 | |
| Fund balances at 1 April 2023 | 116,942 | 105,514 | |
| Fund balances at 31 March 2024 | 141,172 | 116,942 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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BURNHOLME COMMUNITY NURSERY
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024
| Notes Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets The funds of the charity Unrestricted funds 11 |
2024 £ 5,423 140,330 145,753 (4,581) |
£ 141,172 141,172 141,172 |
2023 £ 8,541 114,597 123,138 (6,196) |
£ 116,942 |
|---|---|---|---|---|
| 116,942 | ||||
| 116,942 |
The financial statements were approved by the trustees on 27 January 2025
Karen Todman Trustee
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BURNHOLME COMMUNITY NURSERY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
Charity information
Burnholme Community Nursery is a charity registered with the Charity Commission for England and Wales.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are used only for restricted purposes as specified by the donors.
1.4 Income
All income is included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
1.5 Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Charitable expenditure comprises those costs incurred by the charity in pursuit of its charitable object.
Governance costs are those costs in connection with meeting the constitutional and statutory requirements of the charity.
1.6 Tangible fixed assets
Expenditure on fixed assets costing more than £500 is capitalised.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers 33.33% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks.
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BURNHOLME COMMUNITY NURSERY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
1.8 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.
1.9 Retirement benefits
Termination payments
The amounts included within termination payments are paid to the employee in line with the company redundancy policy.
2 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Charitable activities | ||
| Fees including childcare vouchers | 165,666 | 150,109 |
| City of York council fees | 112,105 | 85,024 |
| Welfare food reimbursement unit income | 682 | 636 |
| 278,453 | 235,769 |
3 Income from other trading activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Fundraising events | 316 | 472 |
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BURNHOLME COMMUNITY NURSERY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
4 Income from investments
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Interest receivable | 614 | 200 | |
| 5 | Charitable activities | ||
| Charitable | Charitable | ||
| Expenditure | Expenditure | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Staff costs | 207,624 | 175,603 | |
| Depreciation | - | 230 | |
| Bank charges | 378 | 398 | |
| Donation | 32 | - | |
| Premises costs | 15,478 | 19,569 | |
| Food and consumables | 22,850 | 21,727 | |
| Printing, stationery and postage | 1,132 | 1,359 | |
| Educational supplies | 5 | 62 | |
| Telephone | 1,149 | 959 | |
| Insurance | 1,618 | 1,571 | |
| Sundries | 2,167 | 246 | |
| IT costs | 969 | 1,275 | |
| 253,402 | 222,999 | ||
| Share of support costs (see note 6) | 488 | 468 | |
| Share of governance costs (see note 6) | 1,263 | 1,546 | |
| 255,153 | 225,013 | ||
| 6 | Support costs allocated to activities | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Legal and professional fees | 488 | 468 | |
| Governance costs | 1,263 | 1,546 | |
| 1,751 | 2,014 | ||
| Analysed between: | |||
| Charitable activities | 1,751 | 2,014 |
Governance costs includes Independent Examination fees of £984 (2023: £1,242).
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BURNHOLME COMMUNITY NURSERY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year (2023: none).
8 Employees
The average monthly number of employees during the year was:
| Total Employment costs Wages and salaries Social security costs Pension costs Staff costs Prior years employment allowance previously not claimed 9 Debtors Amounts falling due within one year: Other debtors Prepayments and accrued income 10 Creditors: amounts falling due within one year Tax and social security Accruals |
2024 Number 12 2024 £ 194,196 7,887 3,443 2,098 - 207,624 2024 £ 3,189 2,234 5,423 2024 £ 2,812 1,769 4,581 |
2023 Number 12 2023 £ 173,932 6,257 3,098 316 (8,000) 175,603 2023 £ 6,625 1,916 8,541 2023 £ 1,777 4,419 6,196 |
|---|---|---|
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BURNHOLME COMMUNITY NURSERY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
11 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 April 2023 £ General funds 116,942 Previous year: At 1 April 2022 £ General funds 105,514 |
Income ExpenditureAt 31 March 2024 £ £ £ 279,383 (255,153) 141,172 Income ExpenditureAt 31 March 2023 £ £ £ 236,441 (225,013) 116,942 |
|---|---|
12 Operating lease commitments
Lessee
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
| Within one year Between two and five years |
2024 £ 2,875 - 2,875 |
2023 £ 11,500 2,875 |
|---|---|---|
| 14,375 |
13 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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