## **The Park Neighbourhood Nursery TRUSTEES ANNUAL REPORT YEAR ENDED 31 December 2022**
**- 1 -**
The trustees present their report and the unaudited financial statements accounts of the charity for the year ended 31 December 2022.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Registered charity name: The Park Neighbourhood Nursery Charity registration number:** 1107602
**Principal address: The Old Park School Complex, Hollow Road, Kingswood, Bristol BS15 9TP**
## **The trustees**
The trustees who served the charity during the period were as follows: Roger Coales, Patricia Rooney, Cherry Holmes, Elizabeth Meadows, Virginia Dunn
*********************************************************
**Independent examiner** Accountant Mitchell Glanville
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Trustees present their report for the year ended 31 December 2022. 2022 was again a successful year for The Park Neighbourhood Nursery with us continuing to strive for excellence and despite increasing financial challenge, managing within budget.
We ended the year with a turnover of £534,984, this represents a continuation of profitable operations. Nursery staff, management and committee have worked very hard once again to ensure the Nursery continues to prosper despite there being less income from grants and government support on offer.
A large proportion of income is the Nursery Education Grant (NEG), which is vital to the running of the Nursery, although it does not match the hourly rate required for sustainability it is a guaranteed income. The fees from parents make up the majority of the Nursery’s income.
Total outgoings were £475,818. Management has continued to closely monitor expenditure using our now, staffing costs at £362,800 are the largest outgoing expense, the rises in National Minimum and Living Wage have meant rises in this area, but these and other costs such as building funds and improvements were broadly in line with our forecast budget.
An important aspect of our financial success in 2022 has been to ensure that our sessions were fully utilised. We continue to draw pupils from a large catchment area with most first hearing about Nursery through word of mouth. This endorsement suggests Nursery has a reputation throughout the local community and beyond as a setting that provides a high standard of early years' education.
We have not been OFSTED'd but we continue to make sure that we continuously improve our practice and we have a talented and committed staff who make all of this possible. They too strive to develop themselves professionally and we also have two staff employed as apprentices working towards a Level 2 qualification in Early Years'. Our SEN Co-ordinator (SENCO) is continuing her development and taking this role forward as we see a rise in children with additional needs.
We have a dedicated committee who give their time and support to Nursery and we thank them for their continued support.
In conclusion, 2022 was a prosperous year for The Park Neighbourhood Nursery, one which will help it to continue to provide high-standard early years education as well as to tackle any future challenges this brings. Everyone involved has made an
enormous contribution to the running but it is the staff who make a particularly excellent contribution, going the extra mile, supporting extra -curricular activities and in many of their cases spending time in the Nursery in their holidays preparing new and exciting activities for the children, ensuring we keep abreast of new ideas and best practice and dealing with the endless administration and record keeping for which there is often just not the time in normal hours. We try within our budget to recognise these contributions through monetary reward as far as it is possible, but that is not what motivates those who work in Nursery and it is because of their dedication and considerable efforts that we continue to have such a successful Nursery. We are confident that this continues to be one of the very best settings in the area achieving the right balance between ensuring we meet all the various standards of Early Years' practice and providing a fun, stimulating, caring and supportive environment for the children in our care and their parents.
Elizabeth Meadows Secretary
## **Report of the Directors and**
## **Unaudited Financial Statements**
**for the Year Ended 31 December 2022**
**for**
**THE PARK NEIGHBOURHOOD NURSERY**
**THE PARK NEIGHBOURHOOD NURSERY**
## **Contents of the Financial Statements FOR THE YEAR ENDED 31 December 2022**
||**Page**|
|---|---|
|**Company Information**|1|
|**Report of the Directors**|2|
|**Statement of Income and Retained Earnings**|3|
|**Balance Sheet**|4|
|**Notes to the Financial Statements**|5|
|**Detailed Income and Expenditure Account**|7|
**THE PARK NEIGHBOURHOOD NURSERY**
## **Company Information FOR THE YEAR ENDED 31 December 2022**
## **DIRECTORS:**
Ms V M Dunn Ms C S Holmes Ms E A Meadows Ms P A Rooney
## **SECRETARY:**
Ms E A Meadows
## **REGISTERED OFFICE:**
The Park Neighbourhood Nursey The Old Park School Hollow Road Kingswood BS15 4AT
## **REGISTERED NUMBER:**
04993091 (England and Wales)
## **ACCOUNTANTS:**
MGB Accountants (Stonehouse) Limited The Garden Suite 23 Westfield Park Redland Bristol BS6 6LT
1
**THE PARK NEIGHBOURHOOD NURSERY**
## **Report of the Directors FOR THE YEAR ENDED 31 December 2022**
The directors present their report with the financial statements of the company for the year ended 31 December 2022.
## **DIRECTORS**
The directors shown below have held office during the whole of the period from 1 January 2022 to the date of this report.
Ms V M Dunn Ms C S Holmes Ms E A Meadows Ms P A Rooney
Other changes in directors holding office are as follows:
R W Coales - resigned 24 September 2022
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
## **ON BEHALF OF THE BOARD:**
Ms P A Rooney - Director
15 August 2023
2
## **THE PARK NEIGHBOURHOOD NURSERY**
## **Statement of Income and Retained Earnings FOR THE YEAR ENDED 31 December 2022**
|Notes
**TURNOVER**
Cost of sales
**GROSS SURPLUS**
Distribution costs
Administrative expenses
Other operating income
**OPERATING (DEFICIT)/SURPLUS**
4
Interest receivable and similar income
Interest payable and similar expenses
**(DEFICIT)/SURPLUS BEFORE TAXATION**
Tax on (deficit)/surplus
**(DEFICIT)/SURPLUS FOR THE FINANCIAL**
**YEAR**
Retained earnings at beginning of year
**RETAINED EARNINGS AT END OF YEAR**|2022
£
378,346
98,265|£
534,984
72,615
462,369
476,611
(14,242)
-
(14,242)
90
(14,152)
17
(14,169)
-
(14,169)
288,628
274,459|2021
£
346,384
69,225|£
520,823
46,680|
|---|---|---|---|---|
|||||474,143
415,609|
|||||58,534
12,155|
|||||70,689
1|
|||||70,690
1|
|||||70,689
-|
|||||70,689
217,939|
|||||288,628|
The notes form part of these financial statements
3
**THE PARK NEIGHBOURHOOD NURSERY (REGISTERED NUMBER: 04993091)**
## **Balance Sheet 31 December 2022**
|Notes
**FIXED ASSETS**
Tangible assets
5
**CURRENT ASSETS**
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
6
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**RESERVES**
Income and expenditure account|2022
£
272,106
8,309|£
10,662
263,797
274,459
274,459
274,459|2021
£
279,048
4,637|£
14,217
274,411|
|---|---|---|---|---|
|||||288,628|
|||||288,628|
|||||288,628|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
- (a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2023 and were signed on its behalf by:
Ms P A Rooney - Director
The notes form part of these financial statements
4
**THE PARK NEIGHBOURHOOD NURSERY**
## **Notes to the Financial Statements**
## **FOR THE YEAR ENDED 31 December 2022**
## 1.
## **STATUTORY INFORMATION**
The Park Neighbourhood Nursery is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
## 2. **ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Turnover**
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery etc - 25% on reducing balance
## **Taxation**
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
## **Deferred tax**
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
## **Pension costs and other post-retirement benefits**
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
## 3. **EMPLOYEES AND DIRECTORS**
The average number of employees during the year was 22 (2021 - 20).
## 4. **OPERATING (DEFICIT)/SURPLUS**
The operating deficit (2021 - operating surplus) is stated after charging:
||2022|2021|
|---|---|---|
||£|£|
|Depreciation - owned assets|3,555|4,738|
5
**THE PARK NEIGHBOURHOOD NURSERY**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 December 2022**
## 5. **TANGIBLE FIXED ASSETS**
|5.
**TANGIBLE FIXED ASSETS**|||
|---|---|---|
|**COST**
At 1 January 2022
and 31 December 2022
**DEPRECIATION**
At 1 January 2022
Charge for year
At 31 December 2022
**NET BOOK VALUE**
At 31 December 2022
At 31 December 2021
6.
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Taxation and social security
Other creditors|2022
£
5,124
3,185
8,309|Plant and
machinery
etc
£
109,450
95,233
3,555
98,788
10,662
14,217
2021
£
2,036
2,601
4,637|
||||
6
**THE PARK NEIGHBOURHOOD NURSERY**
## **Detailed Income and Expenditure Account FOR THE YEAR ENDED 31 December 2022**
|**Sales**
**Cost of sales**
Food and drink
Toys and nursery equipment
Other direct costs
**GROSS SURPLUS**
**Other income**
Government grants
Deposit account interest
**Expenditure**
Wages
Pensions
Rates and water
Insurance
Light and heat
Workwear
Telephone
Post, stationery & IT costs
Advertising
Staff training
Repairs and renewals
Staff entertaining and welfare
Cleaning and hygiene supplies
Sundry expenses
Accountancy
Professional Fees
Subscriptions
Depreciation of tangible fixed assets
Fixtures and fittings
**Finance costs**
Bank charges
Interest payable
**NET (DEFICIT)/SURPLUS**|2022
£
36,958
30,794
4,863
-
90
362,800
15,546
3,136
1,832
12,354
1,350
6,163
2,250
6,588
15,479
28,888
2,119
7,028
355
990
4,982
404
3,554
793
17|£
534,984
72,615
462,369
90
462,459
475,818
(13,359)
810
(14,169)|2021
£
29,344
15,162
2,174
12,155
1
333,388
12,996
2,797
1,704
12,246
937
4,401
1,625
4,019
3,667
17,030
1,268
6,567
188
990
6,160
404
4,739
483
1|£
520,823
46,680|
|---|---|---|---|---|
|||||474,143
12,156|
|||||486,299
415,126|
|||||71,173
484|
|||||70,689|
This page does not form part of the statutory financial statements
7
## **Report of the Directors and**
## **Unaudited Financial Statements**
**for the Year Ended 31 December 2022**
**for**
**THE PARK NEIGHBOURHOOD NURSERY**
**THE PARK NEIGHBOURHOOD NURSERY**
## **Contents of the Financial Statements FOR THE YEAR ENDED 31 December 2022**
||**Page**|
|---|---|
|**Company Information**|1|
|**Report of the Directors**|2|
|**Statement of Income and Retained Earnings**|3|
|**Balance Sheet**|4|
|**Notes to the Financial Statements**|5|
|**Detailed Income and Expenditure Account**|7|
**THE PARK NEIGHBOURHOOD NURSERY**
## **Company Information FOR THE YEAR ENDED 31 December 2022**
## **DIRECTORS:**
Ms V M Dunn Ms C S Holmes Ms E A Meadows Ms P A Rooney
## **SECRETARY:**
Ms E A Meadows
## **REGISTERED OFFICE:**
The Park Neighbourhood Nursey The Old Park School Hollow Road Kingswood BS15 4AT
## **REGISTERED NUMBER:**
04993091 (England and Wales)
## **ACCOUNTANTS:**
MGB Accountants (Stonehouse) Limited The Garden Suite 23 Westfield Park Redland Bristol BS6 6LT
1
**THE PARK NEIGHBOURHOOD NURSERY**
## **Report of the Directors FOR THE YEAR ENDED 31 December 2022**
The directors present their report with the financial statements of the company for the year ended 31 December 2022.
## **DIRECTORS**
The directors shown below have held office during the whole of the period from 1 January 2022 to the date of this report.
Ms V M Dunn Ms C S Holmes Ms E A Meadows Ms P A Rooney
Other changes in directors holding office are as follows:
R W Coales - resigned 24 September 2022
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
## **ON BEHALF OF THE BOARD:**
Ms P A Rooney - Director
15 August 2023
2
## **THE PARK NEIGHBOURHOOD NURSERY**
## **Statement of Income and Retained Earnings FOR THE YEAR ENDED 31 December 2022**
|Notes
**TURNOVER**
Cost of sales
**GROSS SURPLUS**
Distribution costs
Administrative expenses
Other operating income
**OPERATING (DEFICIT)/SURPLUS**
4
Interest receivable and similar income
Interest payable and similar expenses
**(DEFICIT)/SURPLUS BEFORE TAXATION**
Tax on (deficit)/surplus
**(DEFICIT)/SURPLUS FOR THE FINANCIAL**
**YEAR**
Retained earnings at beginning of year
**RETAINED EARNINGS AT END OF YEAR**|2022
£
378,346
98,265|£
534,984
72,615
462,369
476,611
(14,242)
-
(14,242)
90
(14,152)
17
(14,169)
-
(14,169)
288,628
274,459|2021
£
346,384
69,225|£
520,823
46,680|
|---|---|---|---|---|
|||||474,143
415,609|
|||||58,534
12,155|
|||||70,689
1|
|||||70,690
1|
|||||70,689
-|
|||||70,689
217,939|
|||||288,628|
The notes form part of these financial statements
3
**THE PARK NEIGHBOURHOOD NURSERY (REGISTERED NUMBER: 04993091)**
## **Balance Sheet 31 December 2022**
|Notes
**FIXED ASSETS**
Tangible assets
5
**CURRENT ASSETS**
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
6
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**RESERVES**
Income and expenditure account|2022
£
272,106
8,309|£
10,662
263,797
274,459
274,459
274,459|2021
£
279,048
4,637|£
14,217
274,411|
|---|---|---|---|---|
|||||288,628|
|||||288,628|
|||||288,628|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
- (a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2023 and were signed on its behalf by:
Ms P A Rooney - Director
The notes form part of these financial statements
4
**THE PARK NEIGHBOURHOOD NURSERY**
## **Notes to the Financial Statements**
## **FOR THE YEAR ENDED 31 December 2022**
## 1.
## **STATUTORY INFORMATION**
The Park Neighbourhood Nursery is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
## 2. **ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Turnover**
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery etc - 25% on reducing balance
## **Taxation**
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
## **Deferred tax**
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
## **Pension costs and other post-retirement benefits**
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
## 3. **EMPLOYEES AND DIRECTORS**
The average number of employees during the year was 22 (2021 - 20).
## 4. **OPERATING (DEFICIT)/SURPLUS**
The operating deficit (2021 - operating surplus) is stated after charging:
||2022|2021|
|---|---|---|
||£|£|
|Depreciation - owned assets|3,555|4,738|
5
**THE PARK NEIGHBOURHOOD NURSERY**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 December 2022**
## 5. **TANGIBLE FIXED ASSETS**
|5.
**TANGIBLE FIXED ASSETS**|||
|---|---|---|
|**COST**
At 1 January 2022
and 31 December 2022
**DEPRECIATION**
At 1 January 2022
Charge for year
At 31 December 2022
**NET BOOK VALUE**
At 31 December 2022
At 31 December 2021
6.
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Taxation and social security
Other creditors|2022
£
5,124
3,185
8,309|Plant and
machinery
etc
£
109,450
95,233
3,555
98,788
10,662
14,217
2021
£
2,036
2,601
4,637|
||||
6
**THE PARK NEIGHBOURHOOD NURSERY**
## **Detailed Income and Expenditure Account FOR THE YEAR ENDED 31 December 2022**
|**Sales**
**Cost of sales**
Food and drink
Toys and nursery equipment
Other direct costs
**GROSS SURPLUS**
**Other income**
Government grants
Deposit account interest
**Expenditure**
Wages
Pensions
Rates and water
Insurance
Light and heat
Workwear
Telephone
Post, stationery & IT costs
Advertising
Staff training
Repairs and renewals
Staff entertaining and welfare
Cleaning and hygiene supplies
Sundry expenses
Accountancy
Professional Fees
Subscriptions
Depreciation of tangible fixed assets
Fixtures and fittings
**Finance costs**
Bank charges
Interest payable
**NET (DEFICIT)/SURPLUS**|2022
£
36,958
30,794
4,863
-
90
362,800
15,546
3,136
1,832
12,354
1,350
6,163
2,250
6,588
15,479
28,888
2,119
7,028
355
990
4,982
404
3,554
793
17|£
534,984
72,615
462,369
90
462,459
475,818
(13,359)
810
(14,169)|2021
£
29,344
15,162
2,174
12,155
1
333,388
12,996
2,797
1,704
12,246
937
4,401
1,625
4,019
3,667
17,030
1,268
6,567
188
990
6,160
404
4,739
483
1|£
520,823
46,680|
|---|---|---|---|---|
|||||474,143
12,156|
|||||486,299
415,126|
|||||71,173
484|
|||||70,689|
This page does not form part of the statutory financial statements
7