BOWLERS COMMUNITY NURSERY IPrivate Company Limited by Guaranteel REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 COMPANY REG NO. 04690499 CHARITY NO. 1102941
BOWLERS COMMUNITY NURSERY {Prlvate Company Llmlted by Guarantee) Contents Legal and administrative information Report of the trustees Report of the auditors Statement of Financial Activities Balance Sheet Cash Flow Statement io Accounting policies 11-14 Notes formlng part of the financlal statements 15.18 Detalled Income & expenditure account 19 Paqe 19 does notfvrm port OA the stotutory accounts.
BOWLERS COMMUNITY NURSERY (Prlvate Company Llmited by Guarantee) Legal and Admini5tratlve Informatlon Management committee: N Roberts L A Ashley. S Garner C Gibney ** J Lloyd S Bushwell L Gorden J.L.S.L Sanlines. A Khushu (resigned 5 December 20231 (resigned 1st April 20241 Iresi8ned 4 October 2023 20231 lappointed 5 December 20231 lappolnted 23 November 20231 ** M¢inagement committee member5 t7re also, for the purpose ol the Componies Act 2006, company director5. Company secretary: L A Gordon A Khushu Iresi8ned 5 December 20231 lappolnted 23 November 20231 Admlnlstratlon and reglstered offlte: 81 Crouch Hill London N8 9EG Charlty re8lstratlon no.: 1102941 Company reg15tratlon no.. 04690499 Audltors: Chrlstopher MSchael Ltd Chartered Certlfied Accountants & Statutory Audltors 26 Station Road New Barnet Herts EN5 IQW Bankers: Lloyds TSB Fundlng authorltles: LB151ington Page 1
BOWLERS COMMUNITY NURSERY Prlvate Com an Limlted b Guarantee Dlrector5' & Tru5tees' Re ortforthe Year Ended 31 March 2024 The trustees are pleased to present their annual directors, report for the year ended 31 March 2024 whlch is also prepared to meet the requirements for a dSrectors report and account5 for Companies Act purp05e5. The flnanclal statements cornply wllh the Charlties Act 2011, the Companles Aci 2006. the Memorandum and Artlcles of A550Clation, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitles preparlns thelr accounts in ac¢ordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFR51021. Structure. Governance and Management overnin Document Bowler's Communlty Nursery is a company limited by guarantee and is a registered charity. The company was established under a Memorandum of Assoclatlon whlch estab115hed the object5 and powers of the charitable company and 15 8overned under Its Anlcles of A550clatlon. In the event of the company belng wound up members are regulred to contribute an amount nol exceedlng £1. Recruitment & A olntment of Truste The trtsstee5 and dlrectOTS who have served througho(tt the year are shown on page l. Appolntment of dlrectorsltrustees Is 80verned by the Memorandum & Article5 of AssoclatS0n. New Tru5tee5 under80 tralnlng on thelr legal obligations as under Charity Law, the declslon maklng process, the buslness plan and recent performance of the charitv. an15atSonal Structure The charlty Is orsanized so that the trustees meet regularly to manage Its affaSr5. The 'Nur5ery Head, manages the day to dav admSn15tratlon of the charlty and reports to the Trustees at monthly Trustee meetlngs. Rlsk Mana The trustee5 actlvely revlew the major ilsks whlth the charlty face5 on a re8ular basls and belleve that malntalnln8 reserve5 at the current levels, comblned wlth an annual review of the controls over key flnanclal sysiems, wlll provlde suffl¢lenl resources In the evert of adverse condStlons. emen The trustees also revlew non-financial risks and these r15ks are managed by ensurlng compllance wllh all health and safety regulatlons for chlldren, staff and parent5. In additlon the nursery 55 regulated by Ofsted and the trustees and senlor mana8ement have controls In place to ensure compllance wlth such re8ulatSons. Related artl None of the trustees recelve remuneratlon or other benefit In their capaclty as trustees of the charlty. Any connection between trustee of the charity and or8anlsation5 provldln8 services to the ¢harily must be di5c105ed to the full board of trustees in the same way as any ¢untraclual re5atlonshlp wlth a related party. In the current year no such related party transactSons were reported. oll¢ for 5enlor staff The dlrectors conslder that the board of dlrectors, who are the Charliy's trustees, and senlor management team compr15e the kev mana8ement per5Dnnel of the charlty In charge of dSre¢tln8, controllln81 runnln8 and operatinB the charity on a day to day basis. No dlrector recelved remuneratlon in the year. The pay of senlor staff Is revlewed annuallv. Purpose and oblectlves Bowler's Communlty Nursery Ltd provides a wlde range of servlces to famllles wlth children form the ages 016 months and 5 yeaTS, who Ilve in the London Borou8hs of Isington. Hackney and surrounding areas by offering approprlate play and learning facllltles. A¢hlevement5 and performance The trustees consider that the charity's actSvltle5 of provldlng nursery educatSon for children has been successful In meetln8 It's objectives. Page 2
BOWLERS COMMUNITY NURSERY (Private Company Llmited by Guarantee) Dlrectors. & Trustees, Report for the Year Ended 31 March 2024 Contlnuedl Flnantlal revlew Total income for the year amounted to £539,599 wlth total expenditure arnounting to £543,959 leavin8 a profft/-105s In the year of £.4,360. Accumulated reseNes at the balance Sheet date amounted to £416,014, of whlch £416,014 represent Income reseNes. Reserves pollcy and 8oln8 concern The Trustees have undertaker a review of the charity'5 requirements for reserves in light of the main rlsk5 to the organisation. The tharlty hès hlstorlcally set up two funds, namely a 'runnln8 Cost, and '5taff redun(Jancy' reserve, In Ilne with Charlty Comrnlsslon recommendatlon5. The runnlng cost reserve is to cover running costs of the charlty of between 3 to 6 mollths and as at 31 March 2024 was £l1jJ,O which is equivalent to 3-4 months runnln8 Costs. The 'staff redundancy fund, Is to cover future potential statutory liabilities Iredundancy, unpaid hollday & monies In lieu of notlcel should the charity cease activities and as at 31 March 2024 is £70,000. A new Irsfrastructure fund of £70,000 was set up primarily to fund Investment in the a garden. Plans for future peflods Fundln£ for the year 2024125 has been secured from L 8 Isllngton and total grants recelvable for the year wlll be £54,711 for the Charltles, core actlvltles and the aim of the Trustees Is to further develop the chlldren's centre, the provlsion of nursery educatlon and outreach seNl¢es In the Hackney & lsllngton area5. Trustees responslbllltSe5 In relatlon to the 15nan¢lal statements The charlty trustees (who are also dlreetors of the Company for the purposes of company lawl are responsible for preparln8 a trustees, annual report and ftnancial Statements in accordance wlth 8ppll¢able law and Unlted Kln8dom Accountln8 Standards Iunlted Kln8dom Generally Accepted Accountlng Practlcel. select sultable accountlng pollcles and apply them consbstentlvi observe the methods and prlnclples In the Charltles SORP.. make judgments and estimates that are reasonable and prudent,. state whether applicable UK accountlng standards have been followed. subject to any materlal departures dlsclosed Bnd explalned In the Inanclal sialements. prepare financlal statements on a 8oing concern basls unless111s Inapproprlote lo presume that the charltv will continue In operatlon. The trustees are resporlslble for keeplng accounting records whlch dlsclose with reasonable accuracy at any tlme the financlal posltion of the charlty and enable them to ensure that the flnanclal statements comply wlth the Companles Act 2006. They are also responslble for safe8uardln8 the asseis of the ¢hèrlty and hence for takln6 reasonable steps for the preventlon and detèctlon of fraud and other Irregularltle5. Dlrector5 pnd trustees The trustees who are dlrectors for the purpose of company law who have seNed durln8 the year and up to the date ol thls report are set out on page l. Statement is to dlsclosure to our audltors In so far as the trustees are aware at the tlme of ppprovlng our trustees, annual report.. there Is no relevant Informatlon, belng Inforrnatlon needed by the audltor In conThectlon wlth preparln8 thelr report, of whlch the company's audltor Is unaware., and the trustee5, havln8 rnade enquirles of fellow dlrectors and the company auditor that they ought to have Individually taken, have each taken all Steps that he/she Is obliged to take a5 a director In order to make themsèlves aware of any relevant audlt informatlon and to e5tab115h thot the audlior Is aware of that Informatlon. By order of the board of trustees S Garner- Trustee & Dlrector Oate: 10.9.2014 Page 3
BOWLERS COMMUNITY NURSERY (Prlvate Company Llmlted by Guarantee) Independent Audltor's Report to the Members of Bowlers Communlty Nursery Oplnlon on flnanclal statements We have audited the flnanclal statements of Bowlers Comrnunlty Nursery for the year ended 31 March 2024 on pa8es 8 to 18. The financial reporting framework that has been applied in thelT preparation Is applicable law, and United Klngdom Accountlng Standards Iunited Kingdom Generally Accepted AccountSn8 Practlcel. Including FRS 102 'The Flnanclal Reportlng Standard applScable In the UK and Republic of Ireland This report is made solely to the charitable company's members. as a bo(4y, In accordance with Chapter 3 of Part 16 of the Companles A¢t 2006. Our audit work has been undertaken so that we might state to the charitable company's member5 those matters we are requlred to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by lèw we do llot accept or assume responsibility to anyone other than the charltable company and the charltable company's members as a body, for our audlt work, for thls report. ow for the opinion5 we have formed. In our oplnlon the financial statements.. give a true and falr vlew of the state ol the charitable company's affairs a5 at 31 March 2024, aThd ol Its Incomlng resources and appllcatlon of resources, Includlng Its Income and expendlture. for the year then ended,. have been properly prepared In accordance with the Unlted Kingdom Generally Accepted Accountlng Practlce., and have been prepared In accordance wlth the requlrements of the Companies Act 2006. as15 of oplnlon We conducted our audlt In accordance wlth Internatlonal Standard5 on Audltlng IUKI IISAS IUKII and appllcable law. Our responslbllltles under those standard5 are further descrlbed In the Auditorfs respon51bllltles for the audlt of the flnanclal 5tatement5 section of our report. We are independent of the charltable company In accordance with the ethlcal requlrements that are relevani to our audlt of the financlal statement5 In the UK, Includlng the FRC'5 EthScal Standard, and we have fulfllled our other ethlcal responslbllltles In accordance wlth these requirernent5. We belleve that the audlt evldence we have obtained Is sufflclent and approprlate to provlde a basls for our oplnlon. Conclu$lons relatlnl to Bolng ¢on¢ern We have nothln8 to report In respect of the followln8 matters In relatlon to whlch the15A5 IUKI requlre us to report to you where.. the tru5tee5' Use of the golng concern ba51s of accountln£ In the preparatlon of the flnanclal statements Is not approprlate; or the trustees have not dlsclosed In the financlal statements any IderTrtifled materlal uncertalntles that may cast 51gnlficant doubt about the charitable company's ablllty to continue to adopt the goln8 concern basls of accountln8 for a perlod of at least twelve months from the date when the flnanclal statements are authorlsed for Issue. Other Inlormatlon The trustees are responslble for the other Informatlon. The other Informatlon comprlse5 the Informatlon Included In the trustees, annual report, other than the financial statements and our audltor'5 report Ihereon. Our opinlon on the flnanclal statements does not cover the other informatSon and, except to the extent otherwlse expllcStly Stated in our report, we do not express any forrn of assurance conclusSon thereon. In connection with our audlt of the financial statements. tsur responsibility is to read the other information and, in dolng so, consSder whether the other information Is materially inconslstent with the financSal statements or our knowledge obtalned in the audSt or otherwise appears to be materially mi55tated. If we Identify such rnaterial inconsistencles or èpparent material mi55taternents, we are requlred to determine whether there is a materlal mlsstatement in the financlal statements or a materlal misstatement of the other Informatlon. If, based on the work we have performed, we conclude that th¢re Is a material mlsstatement of thls other Informatlon, we are requlred to report that fact. We have nothIn8 to report In thls re8ard. Oplnlon on other matter prescrlbed by the Companles Act 2006 In our oplnlon, based on the work undertaken In the course of the audit: the Informatlon given In the trustees, report for the fln3n¢ial year for whlch the ftnanclal statement5 are prepared is consistent with the flnancial st?tement5,' and Page 4
BOWLERS COMMUNIIY NURSERY Iprfvate Company Llmlted by 6uaYanteel Inde endentAudltor's Re rt to the Mtmbers of Bowler5 CommunFI Nurse the Trustees report has been prepared In accordance wlth applicable le8al requlrements. Matttrs on whlch we are requlred to feport by excewlon In the light ol our knowledge and understandlng of the charltable company and its envirDnrnent abtalned In the Course of the audit, we have not identified materlal mlsstatetDents in the dlrector5' report. We have nothlng to report In respect of the followln8 matters In relatlon to whlch the Companles Act 2006 requlres us to repart to you If, In our oplnlDn.' .adequate èccountlng records have not been kept, or retL•rns adequate for our audlt have not been recelved from branche5 not vlslted by us,. or -the flnanclal statements are not in a8reement wbth the accountlng records and returns,. or -certaln dlsclosures of directors, remunerètlon speclfled by law a not made., or -we have not recelved all the Informatlon and explanatlons we require lor our audlt,. or Ae5ponslbllltles of trustees As explalned rnore fully In the trustees, rEspon51bllltles Statement, the trustees Iwho are also the dlrectors of the charltable company for the purpose5 of company lawl are re5ponslble for the prepèratlon of the Ilnènclal Statements and for beln8 Satlsfled that they 8lve a true and falrvlew, and forsuch Internal control a5 the trustees determlne15 necessèry to enable the pparatIOn olflnanclal 5tatementS thit are free from maierlal mSsstatement, whether due to fraud or error. In preparSn8 the flnanclal Statements, the trustees are responslble for a$5e551n8 the charltable company'5 ab111ty to cpnrinue as a golnE concern, dlscloslng, as appllcable, rnatters related to goln8 ¢on¢ern and usln8 the golng concern basls of accounting unle5S the trustees elther Intend t¢ Ilquldate the charltable company or to cease operat1on5, or have no reallstlc alternètlve but to do 50. Audli05 responslbllltle5 for the audlt of the Ilnanclal st4tement5 Our objective5 are to obtaln reosonèble a55urance about whether the finbnclal statements a5 3 whole are free from materlal mlsstètement, whether due to fraud or error, and to Issue an audltorf5 report that Include5 our oplnlon, Reasonable assurance Is a hl8h level ol assurance, but Is not a guarantee that an audlt ccnducted In accordance wlth ISAS IUKI wlll always detert a materlal mlsstatement when It exlsts. Mlsstatements can arlse from fraud or error and are con51dered rnaterlal If, Indlvldually or In the a88regate, they could asonablY be expected to Influence the economlc deClon$ of users taken on the basls ol thest flnanclal statements. Irre8ularStles, Includln8 fraud, ore Instances ol non-compllance wlth laws and re8ulètlon5. We desl8n procedures In Ilne wlth our responslbllltles, outllned above, to detect materlèl m155taternent5 In respeci to Irre8ularltle5, Includlng fraud. The extent to whlch out procedure5 are capable ol detectlng Irreiularllles, Includlng fraué 15 detalled below.. To Identlfy rlsks ol materlal mlstatements due io fraud I'fraud rlsk5"1 we asse55ed events or condltl¢ns that Indlcate an Incentfve or pre$5ure to commlt fraud or provlde the opportunlty to commlt fraud. Our r15k assessment proceduTe5 Included.. tyEnqulrln8 wlth TrJ5tee5 and rnznagement bnd Inspeetlon of pollcy docurnentatlon as to Bowlers Communlty nur5ery'5 pollcles and procedure5 to prevent fraud and detect fraud that apply to th15 company as well as Enqulrln8 whether the Trustee5 and mana8ement have knowled8e ol any actua1 suspected or alleged fraud. Audlt prOdUreS performed by tht engagement team Included.. DIscu5s1on5 wlth management and asse5srnent pl known or suspected Instance5 01 ngn compllance wlth laws ènd re8ulatlons and fraud.. A5se5sments of Identlfled fraud factors,. 'Challen8ln8 a55umptlons and lud8ement5 made by management In its $18nlflcant a£countln8 estlmates., Uslng èn3lytlcal review procedure5 to Identlfy unusual ot une¥pected relatlonshlps.. Confirrnatlon of related partles wlth management, and review of transactlons throuBhout the perlodto Identlfy prevlously undlsclosed trènsactlons wlth related partles outslde the normal course of buslness.. ReadlnÉ minute5 of meetlngs of those Charged wlth 8overnance'. 'Revlew of significant and unusual transatlons and evaluatlon of the underlylng financ131 ratlonale sUPPOrtln8 the transactlons.. ldentlfyln8 and testSnglournèl entrles, In partlcular any manual Èntrles made at the year end lor flnanclal stètement presentatlon. *ldentifyin8 and re5pondlnB to rlsks of materlal mlstatement due io non compllance wlth laws and reBulatlons. Page 5
BOWLERS COMMUNITY NURSERY IPrlvate Cornpany Llmlted by Guarantee) Inde endent Audltor's Report tothe Members of Bowlers Communlty Nursery We communlcated identified fraud risks throughout the audlt team and remained alert to any indications of fraud throughout the audit As required by auditing standards, taking Into account posslble pressures to meet profit targets, we perform procedures to address risks of management overlde of controls and the rlsk of fraudulent revenue recognition, includlng.. the risk that revenue is recorded in the wrong period and the risk that management may be In a position to make inappropriate accountlng entries, We dld not Identlfy any addltlonal fraud risks, We identified arear5 of law5 and regulatlons that could ieasonably be expected to have a materlal effect on the financlal statements from our general commercial and sector experience and through discusslon wlth Trustees and management las requlred by auditing standards) and discussed with Trustees and management the policles and procedures regarding compllance wlth laws and regulatlon5. Firstly, the companyis Subject to laws and regulatlons that dlrectly affect the flnancial statement5 Includlng financial reporting le8151atlon, (including related companie5 legislation), distrlbutable proflts leglslatlon and taxatlon legislatlon and we assessed the extent of compllance wlth these laws and regulations as part of our procedures on related flnancial statement Items. Secondly, the company15 subject to many other law5 and re&ulatlons where the consequences of non tompllance have a materlal effect or the amounts or dlsclosures In the flnanclal statements, for Instance through the1mposltion of fines or Iltagatlon. We Identified the followlng areas a5 those most likely to have such effect.. health and 5afetVi antl-brlljery, general data protectlon, employment law, and ertain aspect5 of company leglslation, recognlsing the nature of the company's activitles.Audlting standards Ilmlt the requlred audlt procedures to Identlfy non compliance with these laws and regulations to enqulre of the Trustees inspection of regulatory and legal correspondence, If any. Therefore, if a breach of operatlonal regulatlons Is not dlsclosed to us or evldent from relevant correspondence, an audlt wlll not detect that breach. Context of ablllty of the audlt to detert fraud or breached of law or regulatlon Owlng to the Inherent limitation5 of an audlt, there Is an unavoldable rlsk that we may not have detected some materlal mlstatements In the financlal 5taternents, even though we have properly planned and performed our audlt In accordance wlth audltlng standards. For example, the further removed non-compllance wlth laws and regulatlons Is from the event5 and transactlons reflected In the flnancial statements, the le55 Ilkely Inherently Ilmlted procedures requlred by audltlng Standards would Identlfy It. In additlon , as wlth any audlt, there remalned a hlgher r15k of non-detettlon of fraud, as these may Involve colluslon, for8ery, Intentlonal omlsslons, mlspresentatlons, or the overlde of Internal controls. Our audlt procedures are deslgned to detect materlal mSstatement. We are not re5ponslble for preventlng non compllance or fraud and cannot be expected to detect non-compllance wlth all laws and regulatlon. As part of an audlt In accordance wlth 15As IUKI, we exerclse professlonal judgment and malntaln professional sceptlcism throughout the audlt. We also.. Identlfy and 055e55 the rlsk5 of materlal mlsstatement of the flnonclal Statements, whether dsje to fraud or error, deslgn and perform audit procedures responslve to those risks, and obtaln audit evidence that 15 sufficlent and approprlate to provlde a basls for our oplnlon. The rlsk of not detectlng a materlal mlsstatement resultlng from fraud Ss hlgher than for one resulting from error, as fraud may involve colluslon, forgery, Intentlonal omlsslons, mlsrepresentations, or the overrlde of Internal control. Obtaln an under5tandlng of Internal control relevant to the audlt In order to deslgn audlt procedure5 that are approprlate In the clrcumstances, but not for the purpose of expresslng an oplnlon on the effectlvene55 of the charitable company's Internal control, Evaluate the 8pproprlatenes5 of accountlng pollcle5 used and the reasonableness of actountlng estlmates and related dlsc105ures made by the trustees. Conclude on the ?pproprSateness of the t¥ustees' use of the going concern bas15 of actountlng and, based on the audlt evldence obtained, whether a materlal uncertalnty exists related to event5 or conditlons that may cast slgnlficant doubt on the charitable company's atjlllty to contlnue as a golng concern. If we conclude that a material uncertalnty exlsts, we are required to draw attention In our audltorfs report to the related dlsclosures In the flnanclal statements or, If such dlsclosures are Inadequate, to modify our oplnlon. Our conclu5ion5 are bosed on the audlt evidence obtained up to the date of our auditorf5 report. However, future events or condltlons may cause the Charitable companv to cease to continue as a RolnR concern. page 6
8OWLER5 COMMUNITY NURSERY (Prlvate Company Llrnited by Guarantee) Independent Audltor's Report tothe Members of Bowlers Community Nursery Evaluate the overall presentatlon, structure and content of the fin3nclal Statements, Including the disclosures, and whether the flnancial statements represent the underlylng transactlons and events In a manner that achleve5 foir presentation. We communScate wlth those charged with governance regardlng, among other matters, the planned scope and tlmlng of the audlt and Sl8nificant audit flndlngs, Including any slgnlficant deficiencies in internal control that we identify during our audit. A fvrther descrlptlon of our respon51bilitles for audlt of the financlal statements is located on the Flnancial reporting Councll's webslte at www.frc.org.uklaudltorsrespon5ibllitles. Thls descrlptlons forms part of our Report of the Audltors. use of our report Thls report Is made 501ely to the charltable company's members, as a body, In accordance wlth Chapter 3 gf Part 16 of the Companles Art 2006. Our audlt work has been undertaken so that we mlght state to the charitable company's members those matters we are requlred to state to them In an 3uditorf5 report and for no other purpose. To the fullest extent permltted by law, we do not accept or assyme respon51bSllty to anyone other than the charitable company and the charltable company's members as a body, for our audlt work, for thls report, or for the oplnlons we have formed MSchalls Mlchael, Sensor Statutory Audltor for and on behalf of Chr55topher Mlchael Ltd, Chartered Certlfled Accountants & Statutory Audltors Z6 Statlon Road, New Barnet, Herts EN5 IQW Datè: page 7
BOWLERS COMMUNifi NURSERY (Private Company Limited by Guarantee) Statement of financlal actlvltles forthe year ended 31 March 2024 Unrestrlctedl Designated Funds Restrlcted Funds Total Total 2023 20Z2 24 23 Notes Income: Donatlons and restrlcted grants Incomefrom Choritoble octivitles.. Nursery fees In¢omefrom other churltoble octivitie5 Fundralsing & other income Investment Income 196,332 196,332 211,082 341,599 341,599 312,855 1.668 1,668 1,248 Total Income 539.599 539,599 525,185 Expendlture Expendlture on chorltttble o¢tlvitles.' Dlfeci Charitable expenditure Management and admSnSstratlon 521,428 521,428 448,247 22,531 22,531 20,439 Total empendlture 543,959 543,959 468,686 N•t Incomellexp¢ndlturel and net movements In fund5 before ialns and losses on Investments 14,3601 14,3601 56,499 Net 8aSn511105ses1 on Investments Totsl funds brought forward 19 420,374 420,374 363,875 Total funds carrled forward 19 416,014 416,014 420,374 The Statement of flnanclal a¢tlvltles Snclude5 all 8aln5 and losses In the year. All Incomlng resources and resources expended derlve from contlnuln8 attlvltles. Page 8
BOWLERS COMMUNITY NURSERY (Private Company Limlted by Guarantee) BALANCE SHEET AS AT 31 MARCH 2024 Notes 2023 2022 Flxed Assets Tan8lble flxed assets 15 16,962 15,017 Total flxed assets 16,962 15,017 Current Assets Debtors Cash at bank and hand 16 15,151 433,608 16,343 439.486 Total current assets 448,759 455,829 Credlior5.' 4mount5 fallln8 due wlthln one year 17 149,7071 150,4721 Net current assets 399.052 405,357 NET ASSETS 416,014 420,374 The funds of the Charlty. Unrestrlcted/Deslgnated Income funds.. TOTAL CHARITY FUNDS 19 416,014 420,374 416,014 420,374 These a¢covnt5 are prepared In accordance wlih the speclal provbslons of Part 15of the Companles Act relatlng to small companles and constltute the annual accounts requlred by the Cornpanle5 Act 2006 and are for clrculatlon to members of the company. The note5 at pages 11 to 18 form part of these accounts Approved by the trustees on DATE.. 10.9.2024 S Garner Trustee & Company Dlrector Page 9
BOWLERS COMMUNITY NURSERY Statement of Cash flows AS AT 31 MARCH 2024 2023124 2022123 Total Funds Prlor year Funds Cash flows from operatlng actl¥ltles: Net cash provlded by (used In) opÈr#tlni actlvltles Cash flows from Investln8 actlvltles Dividend5, interest and rents from Investment$ Purchase of fixed asset investment5 Purchase of tangible fixed assets 3,402 54,374 1,078 530 110,3S81 112,3481 Net Cash provlded by I lused Inl Investlni actlvltles 15.8781 42.556 Change In cash and cash equlvalents In the reportln8 perlod Cash and cash equlvalents at the be8lnnln6 of the reportlng perlod Cosh and cash equlvalents at the end ol the reportlng perlod 15,8781 439,486 42,556 396,930 433,608 439,486 Reconclllatlon of net movement In funds to net cash flow from operatln8 actlvltles Net movement in funds for the reportln8 period las per the SOFA) 14,3601 56,499 Adjustments for Oepreclatlon char8es Dlvldernd5, Interest and rents from Investmeots Ilncreèsel/decrea5e In debtors Increaseldecreasel In ¢redltors 8.413 11,0781 1,192 17651 5,823 15301 110,0961 2,678 Net cash provlded by (used In) opèratlnl ¥ctlvltle5 3,402 54,374 Analysls of cash and cash equlvalents Cash In hand 433,608 439,486 Total cash and cash èqulv•lents 433,608 439,486 Page 10
BOWLERS COMMUNITY NURSERY (Prlvate Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 Summa ofsi niflcant accountln ollcles General inforniation and basis of preparation Bowler5 Cornmunity Nursery 15 a company incorporated in England & Wales and is limited by guarantee and ha5 no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to a maximum of El per member of the charlty. The registered address is given In the charity information on page l of these financial Statements. The nature of the charity's operations and principle attivitie5 15 prlmary nursery care. The charity constitutes a public benefit entity as defined by FRS 102. 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 Reporting Standard applicable in the UK and Republic of Ireland Issued in October 2019, the Financial Reporting Standard applicable In the UnSted Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted A¢countlng Practice, The financial statements are prepared on a 8oln8 concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented In sterllng which is the functlonal currency of the charity and rounded to the nearest £1. The slgnSficant accountlng pollcles applied In the preparatlon of these financial 5tatement5 are Set out below. These pollcles have been consistently applied to all years presented unless Otherwise Stated. Reconclllatlon wlth prevSou5 GAAP In preparing the accounts the trustees have considered whether In applylng the accountlng polScles required by FRS 102 and the Charltles SORP FRS 102, the reinstatement of comparatlve Item was requlred. At the date of transition no other restatements were requlred. Incomlng resources Incorne lincludlng Income from Bovernment and other grantsl is recognlsed when the charlty has entltlement to the funds, any performance conditions attached to the Items of Income have been met, It Is probable that the Income w511 be received and the amount can be measured reliablv. Interest and Investment Income recelvable Interest on funds held on deposlt and Sncome from Investments heldls Included when recelvable and the amount can be measured reliable by the charltv. Fund accountlng Unrestricted funds are avallable for use at the di5cretlon of the tru5tee5 in furtherance of the general objectlves of the charlty and which have not been desl8nated for other purpose5, Designated funds comprlse unrestricted funds that have been Set aside by the trustees for particular purp05e5. The alm and use of each deslgnated fund Ss set out in the notes to the financial statements. Restricted funds are funds whlch are to be used in accordance with specific restrictions imposed by donor5 or whlch have been ralsed by the charity for particular purposes. The cost of ralslng and admlnisterlng such funds are charged agalnst the speclfic fund. The aim and use of each restrlcted fund Is set out In the notes to the financial Statements. Endowment fund5 represent those assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arislng on the Investments form part of the fund. Investment management charges and legal advlce relating to the fund are char8ed aialnst the fund. Page11
BOWLERS COMMUNITY NURSERY (Private Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS for the ear ended 31 March 2024 Other income Includes the converslon of en¢Jowment funds into Income whlch arlses when capStal funds are released to an income fund from expendable endowments or when a charity has authority to adopt a total return approach to its permanent endowment fund. It also includes other income such as gains on disposals of tangible fixed assets, Expendlture recognltlon All expenditure is accounted for on an accruals basls and has been classlfled under headlngs that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it Is probable that the settlement wlll be required and the amount of the obligation can be measured reliablv. Irrecoverable VAT is charged as an expense against the activity for whlch expendlture arose soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfllled conditions are outslde of the control of the charity. Support cost allocatlon Support costs are those that a5515t the work of the charlty but do not dlrectly represent charltable artlvltles and Include offlce costs, governance costs, administrative payroll costs. They are Incurred d5rectly In support of expenditure on the objects of the charity and include prolect management carried out at Headquarters. Where support costs cannot be dlrectly attributed to partScular headln8S they have been allocated to cost of ralslng funds and expendlture on charltable actlvltles on a basls Fund-raSslng costs are those incurred in seekin8 voluntary contributlons and do not include the costs of di5seminatlng informatlon in sUPPOrt of the charltable activitles. Tanglble flxed assets Tangible fixed assets for use by the charlty are stated at cost less depreclatlon, Depreciation is provided at rates calculated to write off the cost or valuation of fSxed assets, less thelr estlmated resldual value, over thelr expected useful lives on the followSng bases.. Fixture5 & FittSngs- 25% reducing balance ba515 Taxatlon The charlty Is an exempt charity withln the meanSn8 of sche¢Jule 3 of the Charitie5 Act 2011 and 15 consldered to Pa55 the tests set out In Para8raph I Schedule 6 Flnance Act 2010 and therefore It meets the deflnition of a charitable company for UK Operatlng leases Renta15 payable and recelvable under operatSn8 leases are charged to the SOFA on a strai8ht line basls over the perlod of the Debtors Trade and other debtors are reco8n15ed at the settlement amount due after any trade discount offered. Prepayment5 are valued at the amount prepald net of any trade discounts due. Cash at bank and In hand Cash at bank and in hand includes cash and short term highly liquid investment5 Wlt a short maturity of le55 than three month5 from the date of acquisition or opening of the deposSt or slmllar account. Credltors and provlslons Creditors and provi5ion5 are recognised where the charlty has a present obligation resulting from a past event that wlll probably result In the transfer of funds to a thlrd party and the amount due to Settle the obligatlon can be measured or Page 12
BOWLERS COMMUNITI NURSERY (Prlvate Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS for the ear ended 31 March 2024 Other income include5 the conversion of endowment funds into income which arlses when capital funds are released to an income fund from expendable endowments or when a charity has authority to adopt a total return approach to its permanent endowment fund. It also Includes other income such as gains on disposals of tangible fixed a55ets. Expendlture recognltlon All expenditure is accounted for on an accrua15 basi5 and has been classified under heading5 that aggregate all costs related to the category. Expenditure is recognised where there Is a legal or constructive obligation to make payments to third parties, It is probable that the settlement wlll be required and the amount of the obligation can be measured rellably. Irrecoverable VAT Is charged as an expense against the activity for which expenditure arose Grants payable to thlrd parties are wlthln the charitable oblectSves. Where unconditional grants are offered, thi5 is accrued as soon as the recipient Is notified of the grant, as thls 8lves rise to a reasonable expectatlon that the reclplent will recelve the grant5. Where grants are conditional relatlng to perforrnance then the grant Is only accrued when any unfulfllled conditions are outside of the control of the charlty. Support cost allocatlon office costs, governance costs, adminlstrative payroll costs. They are incurred dlrectly In support of expenditure on the objects of the charlty and include project management C3rrled out at Headquarters. Where support cost5 cannot be dlrectly attrlbuted to particular headln8S they have been allocated to cost of raising funds and expendlture on charitable activitie5 on a bas15 consistent wlth use of the resources Fund-ralsin8 Costs are those Incurred In seekln8 voluntary contributlons and do not Include the cost5 of dlsseminatlng Information in support of the charltable a¢tivitles. Taxatlon The charlty is an exempt charity withln the meaning of schedule 3 of the Charitles Act 2011 and Is considered to pass the tests set out in Paragraph I Schedule 6 Flnance Act 2010 and therefore It meets the definition of a charltable company for UK corporatlon tax purposes, OperatSng lease5 Rentals payable and receivable under operatlng leases are charged to the SOFA on a straight line basis over the period of the lease Debtors Trade and other debtors are recognised at the settlement amount due after any trade dI5count offered. Prepayrnent5 are valued at the amount prepaid net of any trade discounts due. Cash at bank and In hand Cash at bank and in hand includes cash and short term highly liquid investments wlt a short maturity of less than three months from the date of acquisltion or opening of the deposit or similar account. Credltors and provlslons Creditor5 and provisions are recognlsed where the charity has a present obllgatSon resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obli8ation can be measured or estlmated reliably. page 13
BOWLERS COMMUNITY NURSERY {Private Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS for the ear ended 31 March 2024 Flnanclal Instruments The trust has only has flnancial assets and financial liabilitie5 of a kind that qualify as basic financial instruments. The charity does not acquire put options, derivative5 or other complex financial instruments. The main form of financial risk faced by the charity is that of volatility in equity and investment markets due to wider economic condltlons, the attitude of investors to risk, and chan8es in sentiment concerning equities. Penslons The Company operates a NEST pension scheme for its employees . Contrlbutlons are expensed as they becorne payable. Golng concern The financial statements have been prepared on a going concern basis as the trustees belleve that no materlal uncertalnties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorislng these flnancial statements. The budgeted income and expendlture 15 sufficient with the level of reserves for the Charlty to be able to contlnue as a goin8 concern. page 14
BOWLERS COMMUNITY NURSERY (Private Cornpany Limlted by Guarantee) Note5 to the financlal statements for the year ended 31 March 2024 l Legal status of the Trust The Trust 15 a company limited by guarantee and has no share capltal. In the event of the charliy belng wound up, the liability in respect of the guarantee 15 limited to £1 per member of the charity. 2 Flnanclal performance of the charlty Z023124 2022123 Income 539.599 525,185 Expendlture on charltable actlvltle$ Expenditure on management and admlnistratlon Depreciatlon 521,428 22,531 448,247 20,439 543,959 468,686 Net Incorne 14,3601 56,499 Total fund5 brou6ht fonNard 420,374 363,875 Total funds carrled forward Represented by.. 416,014 420,374 Unrestrlcted funds 416,014 420,374 3 Income from Donatlons and Grants Grants recelvable- L8 Islington Donatlons 196,332 211,082 196,332 211,082 4 Income from ch8rltable actlvltles Nursery fees 5 In¢ome from other charitsble actlvltles FundralsSn8 other income Interest recelvable 341,599 312,855 180 410 1.078 718 530 1,668 1,248 6 Investment Income 7 Analys19 of expendlture on charltable a¢tlvltles Staff & agency costs Depreclatlon Other runnlng ¢osts 420,655 8,413 92,360 355,601 5,823 86,823 521,428 448,247 8 Analysls of 8overnano and Support C05t Staff costs Audlt and accountancy Bank char8es Subscrlptlons 21,493 20,090 1501 399 1,038 22,531 20,439 Page 15
BOWLERS COMMUNITY NURSERY (Private Company Llmited by Guarantee) Notes to the flnancial statement5 forthe year ended 31 March 2024 2023114 2022123 9 Net Income Ilexpend5tyrel for the year This Is slated after chaf8in8'. Depreciation-owned assets Auditors remuneratlon for audlt servlce5 Audltors remuneratlon for other serwlces 8,413 5,100 2,593 5,823 5,100 2,593 10 Analyses of staff costs, trustee remuneratlon and e¥pen5e5, and the cost of kev management personnel Wages and 5alarles Redundancv Penslon5 Agency & 5esslonal staff 414,855 353,357 5,800 2,244 420,655 355,601 The average number of staff employed durln8 the year were as follow5.. Dlrect charltable Is 15 15 15 The number of employees whose ernoluments as deflned for taxatlgn purpose5 amounied to over £60,000 In the year were as follows.. 11 Trustees, remuneratlon The irustee5 were not pald or recelved any other beneflts from the Charlty durln8 the year In thelr capaclty as trustees. 12 Related party tr•n50Ctlons There were no related partles 13 Government Grants Income from govefftment 8f8nts comprlses of grant fundlng made avallable by local authoritles to fund the Chlldren centre runnlng c05t of the Charlty. See note 4 for more informatlon and to the arnount and sources of these grants. 14 Corporatlon Tam The Charity Is exempt from tax on Income and galns fallln8 Wlthln sectlon 505 of the Taxes Act 1988 sectlon 252 of the Taxatlon of Chargeable Gains Act 1992 to the extent that these are applied to its charltable objetts. Page 16
BOWLERS COMMUNITY NURSERY (Prlvate Company LimitÈd by Guarantee) Note5 to the financlal statements forthe yearended 31 March 2024 Property Improvement5 Flxtures & Flttln8s Total 15 Tanglble flxed assets Cost: At l April 2023 Additlons 33,404 10,358 33,404 10,358 At 31 March 2024 43,762 Depreclatlon At l Aprll 2023 Char8e In year 18,387 8,413 18,387 8,413 At 31 March 2024 26,800 Net book value At 31 March 2024 16.962 16,962 At 31 March 2023 15,017 15,017 ZO231Z4 2022123 16 Debtors Amounts due wlthln one year: Prepayment5 Accrued Income Other debtor5 3,386 2,822 11,765 13,521 15,151 16.343 17 Credltor$ Amounts lallln8 due wlthln one year: Trade credltors & accru315 Other credltors & deferred Incorne 11,S30 38,177 12,600 37,872 49,707 18 Deferred Income Oeferred Income comprlse advance recelpt of nursery fees for 2023124 Balance as at l Aprll 2023 Arnount released to income earned from charltable activities Arnount deferred In the year Balance as at 31 March 2024 Page 17
BOWLERS COMMUNIYY NURSERY Prlvate Company Llmlted by Guaranteel Notes to the finan¢lal ststemènts for the ear ended 31 March 2024 20z3124 2022123 19 Analysls of charltsble funds Unrestrlrttd funds Aestrlcted reserwe5 stricted General re5 Balance at l Aprll 2022 Movement In year Inter-fund transfer5 rye.. Balance at 31 March 2023 Unrestrlcted Reserves Unrestrlcted- General r Oalance at l Aprll 2022 Movement In year Inter- fund transfers 250,374 14,3601 193,875 56,499 Balance at 31 March 2023 246,014 250,374 D851gnaled fynd Balance at l Aprll 2022 Mavernent In year Inter-fund transfers 70,000 70.(hXI ealance at 31 March 2023 70.WO 70,000 Balance at l Aprll 2022 Movement In year Inter-fund transfers Balance at 31 March 2023 Runnln Balance at l April 2022 Movement In year Inter-fund transfers loo,000 100,0 Balance at 31 March 2023 I.000 loo,000 Total 416,014 420,374 20 Analysls between furbd b4l•nces Unrestrla¢d G•ntril Dt$l8n•ied Total Tan8lble flxed a55ets Cash at bank and In hand Investments Other net current asset51 Illèbllltle51 16,962 153,038 J6,962 433,608 280,570 34,5561 134,5561 Total 246,014 170.000 416,014 Page 18
BOWLERS COMMUNifi NURSERY (Private Company Limlted by Guarantee) Detalled income and expenditure account for the year ended 31 March 2024 2023124 2022123 Income Grants & nursery fee subsidy Fund raising5 & donations Nursery fees other Income Interest receivable 196,332 180 341,599 410 1,078 211,082 718 312,855 530 539,599 525,185 Dlrert ¢harltable expendlture: Staff costs Rent, rates & servlces Depreciatlon Light & heat Cleaning Food & milk Insurance Prlnting, postage & statlonery Telephone Toys, teachin8 materlals & consumables General Repairs, malntenance Garden Repairs & maintenance Staff training and welfare Staff recrultment Travel & outing costs Dance classes & children's entertalnment Consultancy Marketing & Advertlsln8 Software support Legal & Professlonal Fees Rental charges operatlng lease Sundry expenses 420,655 355,601 8,413 703 7,288 26,461 2,864 3,404 1,403 16,153 14,128 2,108 5,800 45 47 3,411 1,728 5,823 8,896 1,530 24,165 2,327 1,053 1,818 23,776 11,271 3,805 2,244 176 30 428 2,765 550 1,145 282 3,772 980 1,126 939 562 521,428 448,247 Management & admlnlstratlon cost5: Staff costs Other running costs Bank charges AudSt Accountancy Subscriptions 150-1 5,100 14,990 399 5,100 16,393 1,038 22,531 20,439 NET INCOMINGSI{OUTGOING51 IN YEAR 4,360 56,499 Page 19