(A Charitable Company Limited by Guarantee)
Annual Report and Financial Statements
For the Year Ended 31 March 2024
Company Number: 04061057 Charity Registered in England and Wales Number: 1108713
Contents For the Year Ended 31 March 2024
| Page | |
|---|---|
| Reference and Administrative Details | 2 |
| Trustee Directors’ Report | 3 – 8 |
| Independent Examiner’s Report to the Trustees | 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Cash flow statement | 12 |
| Notes to the Financial Statements | 13 – 25 |
Page 1
Reference and Administrative Details For the Year Ended 31 March 2024
| Charity Name | Brentry & Henbury Childrens Centre ‘Trading as |
|---|---|
| EveryFamily’ Limited | |
| Trustee Directors | E Montgomery (Chair) |
| A Ayres | |
| C Clark | |
| P Graham | |
| A Phillips | |
| R Twining | |
| Senior Leadership Team | Director of Operations - R Twining |
| Director of Partnership and Community Development – K | |
| Matthews | |
| Director of Partnership and Community Development – A | |
| Jenkins | |
| Day Care Manager – S Chinnick | |
| Finance Director – M McQuarrie | |
| Finance Manager – J Beazley-Long (from April 2023) | |
| Registered Office | Brentry Lane |
| Brentry | |
| Bristol | |
| BS10 6RG | |
| Independent Examiner | Michelle Ferris BSc (Hons) FCA DChA |
| Albert Goodman LLP | |
| Goodwood House | |
| Blackbrook Park Avenue | |
| Taunton | |
| Somerset | |
| TA1 2PX | |
| Bankers | Lloyds |
| 15 High Street | |
| Westbury-on-Trym | |
| Bristol | |
| BS10 3DA | |
| Solicitors | Foot Ansley |
| 2 Glass Wharf | |
| Bristol | |
| BS2 0FR |
Page 2
Trustee Directors’ Report For the Year Ended 31 March 2024
The Trustees (who are also the Directors for the purpose of Company Law) have pleasure in presenting their annual report and the financial statements for the year ended 31 March 2024. The provisions of the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP FRS 102implemented 1 January 2019) have been adopted in preparing the annual report and financial statements of the charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
Brentry & Henbury Childrens Centre ‘Trading as EveryFamily’ Limited is a registered charity, charity number 1108713, and a company limited by guarantee, company number 04061057. The charity’s registered office is Brentry Lane, Brentry, Bristol, BS10 6RG .
Brentry & Henbury Childrens Centre ‘Trading as EveryFamily’ Limited was incorporated as a company limited by guarantee on 29[th] August 2000.
The following people were directors/trustees of the charity during the year and post year end:
| A Ayres | (appointed 06 April 2023) |
|---|---|
| A Bell | (resigned 6 September 2023) |
| A Bodey | (resigned 10 July 2023) |
| C Clark | (appointed 06 April 2023) |
| P Graham | |
| L Howes | (resigned 10 July 2023) |
| R Lloyd | (resigned 20 November 2023) |
| A Mehdi | (resigned 2 August 2024) |
| E Montgomery | (Chair) |
| A Phillips | (appointed 06 April 2023) |
| R Twining |
Roxanne Twining is also named as a Trustee Director on Companies House for the sole purpose of being the named person for OFSTED. It has been agreed by the Board that Roxanne has no voting rights on the board as a Trustee.
Recruitment, Appointment of Trustees
The Charity may by Ordinary Resolution in General Meeting appoint any person who is willing to act to be a Trustee, either to fill a vacancy or as an additional Trustee. Trustees are recruited personally by existing members for their knowledge, experience of and interest in the charity’s work.
The Board of Trustees is responsible for setting and overseeing the overall direction, policies and finances of the charity.
Page 3
Trustee Directors’ Report For the Year Ended 31 March 2024
Structure, governance and management
EveryFAMILY is governed by the Board of Trustees. EveryFAMILY feels it is very important the Trustees are made up of parents and carers of the children attending the Centre, local service users and members of the local community, and those with professional experience in early years. The Trustees are appointed at the Annual General Meeting.
The Trustees are responsible for the overall decision making in the organisation, they control the budgets and agree appropriate expenditure. They are responsible to the funding providers and must ensure that the core offer and any other restrictions set out, from these providers are being achieved by the staff team.
Roxane Twining holds the position of Director of Operations, and Anna Jenkins along with Kerri Matthews hold the position of Director of Partnerships and Community Development. All three form the Senior Leadership Team and share responsibility for the organisation, heading up a team of specialists to run the organization.
Key Management Personnel remuneration is benchmarked on comparable jobs within the Charitable Sector and in line with the industry.
Risk Management
The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to manage exposure to the major risks. The key financial risk to the charity is that funding streams are reduced resulting in services that are offered having to be cut. Regular communication with our funding provider is also key in this area so that any issues are identified as early as possible.
The health and safety of the children and their families is a key risk to the Centre from an operational perspective. Health and safety reviews are conducted on a regular basis and procedures must be followed by all staff. The Trustees are confident that these procedures are comprehensive and that they mitigate the risk of any issues arising in this area.
Objectives and activities
EveryFAMILY remains a respected provider of Early Years childcare for 0-5-year-olds, and Community and Family Support within the local area, the city of Bristol and beyond. The Charity is a popular and busy place with a happy team of staff headed by a well-trained, active and successful leadership team. Our overall objective is to support the communities within which we serve by supporting families and thereby improving the outcomes of children.
Purposes and Aims
The aim and purpose of our Charity is to provide Community and Family Support Services to families, by supporting them in many aspects of their lives including health, education, parental support and training, but also by providing early education and childcare for children aged 2-5 years.
The Charity has a strong commitment to equal opportunities for all. It is the philosophy that all children and families regardless of ability, disability, race, religion or culture are welcome to come to our Centre to play, learn and develop in a stimulating and safe environment.
Page 4
Trustee Directors’ Report For the Year Ended 31 March 2024
Who benefits from our services and the restrictions we have in offering these services?
EveryFAMILY remains a Charity with a focus on the North Bristol communities of Brentry and Henbury; however, in recent years we have expanded our focus to include other deprived areas in the wider North Bristol area and to focus on communities of interest such as families affected by parental imprisonment in both Bristol and South Gloucestershire.
Our focus is still to work with families with children under 11 years in areas of socio-economic deprivation particularly where there is a need for community focused services.
The nursery is open from 8am-5:00pm Monday to Friday, all year round.
EveryFAMILY excel in having excellent working relationships with various professionals. We have a strong commitment to work in partnership with agencies to ensure our families get the best service available.
Ensuring our work delivers our aims
Every group and service delivered at the Charity is continually evaluated to ensure quality and appropriateness. This constant evaluation allows us to improve and update the services and groups we offer to cater for the changing needs of the families and local community to ensure the aims and objectives are met. Due to rising number of vulnerable families and falling funding our services now reflect the need for targeted work, reaching the most vulnerable in both our community and beyond.
The Trustees have referred to the guidance on public benefit, as written by the Charity Commission when reviewing these aims and objectives and in planning our future activities.
Services Offered at EveryFAMILY
EveryFAMILY directly runs daycare in Brentry which offers high quality early education and childcare as well as a range of Family Support services. We also offer Community and Family Support services both at our Brentry site as well as targeted services across Bristol and South Gloucestershire.
Early Education and Childcare
EveryFAMILY offers an integrated and safe environment for children to be cared for while parents work, attend training or simply have time for themselves. This is offered from 2 years to when children are ready to move on to formal education in primary schools.
Family Support
We deliver a wide range of services to support and tackle the most common concerns of our families. Our services include Stay and Play, Arts and Crafts, Baby groups and baby massage, After School club, Outdoor explorers, Dad’s and male carers group, evidenced based parenting courses and one to one support. In addition, we facilitate other organizations delivering out of our Centre where they are better placed to work with families. Examples Include Health Visitor Clinic and Children's Occupational Health.
Page 5
Trustee Directors’ Report For the Year Ended 31 March 2024
Achievements in 2023-2024
It has been an exciting year for us a charity after rebranding and trading under the name ‘everyFAMILY’ We have successfully rebuilt a Community Development team and now have a wide range of support services directly taking place in our Brentry site and there has been a real buzz. During the year 1004 families accessed our services. 97% of parents said that they felt happier after attending our groups and that 80% felt less isolated. 78% said they felt more confident as a parent.
We have been busily networking and have attended many networking events which has ensured that our name and strong reputation has been maintained and grown across Bristol and beyond. As part of the rebrand we have also created a new website which clearly shows the different strands and how we empower families. We have also increased our social media content and platforms to communicate with families and professionals and funders
We have successfully maintained the contract for Bristol’s CAPO (Supporting families affected by parental imprisonment and offending) work for another year with Bristol City Council and South Gloucestershire Council. We continue to advise professionals on how they can support children and have trained 148 professionals in this year alone to become CAPO Champions. We are really excited about this area of work and have had exciting conversation regarding the extension of this work in the next financial year.
We have been lucky to continue to get donations from amazing people in the local community towards our free meal scheme for those that cannot afford to pay for a hot meal. This year we provided 1080 meals for children under the age of 5 years, which is a noticeable increase compared to the previous year
Due to moving away from a large council contract we have been working hard as a Charity to be more financially sustainable. As with any rebrand we were aware that this would take time and that we will see more of a benefit from this next year. This year we have applied for more grants and focused on more fundraising activities. We have also established a fundraising committee. At our annual Charity auction, we raised an amazing £7350.23!
Future Plans
The hard work by the team during the rebrand year of 23-24 has ensured that we will be have a stronger and a more financially sustainable income model in the next financial year. This also includes reviewing our Daycare fee structure and adding in a consumable charge which is in line with other early years settings and supported by the early years team within Bristol City Council. We continue to make one of our main aims to become more financially sustainable. As well as applying for grants we are also looking at other ways in which we can increase our income including renting out rooms/buildings and increasing our saleable services.
We will be extending our CAPO (Children Affected by Parental Offending) work both in the areas which we currently serve but also beyond
We have successfully been awarded a grant of £50,000 towards the roof repairs and have a date planned for the work to commence in the summer of 24.
Page 6
Trustee Directors’ Report For the Year Ended 31 March 2024
Development Areas
As part of our commitment to continually developing and seeking improvements in our provision, we undertake an annual self-evaluation process. As a staff team we identify areas for development within an ‘Improvement plan’. Some of our areas of development this year include:
-
To be a recognised charity, supporting families within the Bristol area and south west
-
To create a sustainable income model.
-
Incorporate a quality assurance model.
-
Create a data tool to efficiently collate and analyse statistics to measure impact.
-
Develop and implement a communication strategy and fundraising strategy.
-
Implement a plan focusing on staff well-being and staff retention.
Financial Review
During the year, the charity had income totalling £864,591 (2023: £863,645) and expenditure totalling £957,073 (2023: £967,647), resulting in a net deficit of £92,482 (2023: net surplus £27,191 including extraordinary income of £76,811) during the year.
As at 31 March 2024, the charity had total funds of £1,303,659 (2023: £1,396,141), of which £3,183 is restricted (2023: £5,051).
Reserves
Wherever possible, it is our aim to raise and maintain reserves equating to 3 months running costs (£250,000) plus the cost of making the whole staff team redundant (which is in the region of £80,000) totalling £330,000.
The Trustees consider that this level will ensure that, in the event of a funding shortfall, they will be able to continue the charity’s current projects and activities until new plans can be implemented.
The actual level of these free reserves is £333,107. It remains our aim to maintain a healthy level of reserves year after year.
As a charity, it is hugely important to us to maintain our reserves so that we can support our staff with adequate redundancy packages should the situation arise.
Page 7
Brentry & Henbury Childrens Centre ‘Trading as EveryFamily’ Limited Trustee Directors’ Report For the Year Ended 31 March 2024
Statement of Trustees’ Responsibilities
The trustees (who are also directors of Brentry & Henbury Childrens Centre ‘Trading as EveryFamily’ Limited for the purposes of company law) are responsible for preparing the Trustees Directors’ Report (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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(a) select appropriate accounting policies and then apply them consistently;
-
(b) observe the methods and principles in the Charities SORP;
-
(c) make judgements and estimates that are reasonable and prudent,
-
(d) state whether UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
-
(e) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The directors are also responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Acts 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the Statement of Recommended Practice – Accounting and reporting by Charities and in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board and signed on their behalf by:
E Montgomery Chair
Date: 17/09/2024
Page 8
Brentry & Henbury Childrens Centre ‘Trading as EveryFamily’ Limited Independent Examiner’s Report to the Trustees For the Year Ended 31 March 2024
Independent examiners report to the Trustees of Brentry & Henbury Childrens Centre ‘Trading as EveryFamily’ Limited
I report to the charity trustees on my examination of the accounts of Brentry & Henbury Children’s Centre ‘Trading as EveryFamily’ Limited (“the Company”) for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material 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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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not comply with these records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a “true and fair view” which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 accounts to be reached.
Michelle Ferris BSc (Hons) FCA DChA Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX Date: 24/09/2024
Page 9
Brentry & Henbury Childrens Centre ‘Trading as EveryFamily’ Limited Statement of Financial Activities (including an Income and Expenditure account) For the Year Ended 31 March 2024
| Unrest- ricted Notes Funds £ Income from: Donations and general grants 2 27,734 Charitable activities 3 798,166 Other trading activities 4 20,041 Total income 845,941 Expenditure on: Raising funds 5 6,456 Charitable expenditure 6 925,468 Total expenditure 931,924 Net income/(expenditure) before transfers & extraordinary items (85,983) Extraordinary items 7 - Net income/(expenditure) before transfers (85,983) Transfers 14 (4,631) Net movement in funds (90,614) Reconciliation of funds Fund balances at 01 April 2023 1,391,090 Fund balances at 31 March 2024 14 1,300,476 |
Unrest- ricted Notes Funds £ Income from: Donations and general grants 2 27,734 Charitable activities 3 798,166 Other trading activities 4 20,041 Total income 845,941 Expenditure on: Raising funds 5 6,456 Charitable expenditure 6 925,468 Total expenditure 931,924 Net income/(expenditure) before transfers & extraordinary items (85,983) Extraordinary items 7 - Net income/(expenditure) before transfers (85,983) Transfers 14 (4,631) Net movement in funds (90,614) Reconciliation of funds Fund balances at 01 April 2023 1,391,090 Fund balances at 31 March 2024 14 1,300,476 |
Rest- ricted Funds £ 18,650 - - 18,650 - 25,149 25,149 (6,499) - (6,499) 4,631 (1,868) 5,051 3,183 |
Total 2024 £ 46,384 798,166 20,041 |
Unrest- ricted Funds £ 23,180 805,833 7,682 |
Rest- ricted Funds £ 26,950 - - |
Total 2023 £ 50,130 805,833 7,682 |
|---|---|---|---|---|---|---|
| 845,941 | 864,591 | 836,695 | 26,950 | 863,645 | ||
| 6,456 925,468 |
6,456 950,617 |
1,068 942,982 |
- 23,597 |
1,068 966,579 |
||
| 931,924 | 957,073 | 944,050 | 23,597 | 967,647 | ||
| (85,983) - |
(92,482) - |
(107,355) 76,811 |
3,353 - |
(104,002) 76,811 |
||
| (85,983) (4,631) |
(92,482) - |
(30,544) 79,635 |
3,353 (79,635) |
(27,191) - |
||
| (90,614) | (92,482) | 49,091 | (76,282) | (27,191) | ||
| 1,391,090 | 1,396,141 | 1,341,999 | 81,333 | 1,423,332 | ||
| 1,300,476 | 1,303,659 | 1,391,090 | 5,051 | 1,396,141 | ||
The results for the year derive from continuing activities and there are no gains or losses other than those shown above.
The statement of financial activities incorporates the income and expenditure account.
Page 10
Brentry & Henbury Childrens Centre ‘Trading as EveryFamily’ Limited Company Registration Number: 04061057 Balance Sheet As at 31 March 2024
==> picture [531 x 455] intentionally omitted <==
----- Start of picture text -----
Notes 2024 2023
£ £
Fixed assets
Tangible fixed assets 10 967,369 1,001,532
Current assets
Debtors 11 32,946 21,870
Cash at bank and in hand 12 335,996 419,016
368,942 440,886
Creditors
Amounts falling due within one year 13 (32,652) (46,277)
Net current assets 336,290 394,609
Net assets 1,303,659 1,396,141
Funds
Unrestricted funds
General funds 14 333,107 389,558
Designated funds 14 967,369 1,001,532
1,300,476 1,391,090
Restricted funds 14 3,183 5,051
Total charity funds 1,303,659 1,396,141
----- End of picture text -----
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
For the year in question, the charitable company was entitled to exemption from an audit under section 477 of the Companies Act 2006.
The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act.
The trustees/directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the Board of Trustees for issue on 17/09/2024 and signed on their behalf by:
E Montgomery A Phillips Chair Trustee
Page 11
Brentry & Henbury Childrens Centre ‘Trading as EveryFamily’ Limited Cash flow statement For the Year Ended 31 March 2024
| Notes Cash flows from operating activities Net movements in funds for the year Adjustments to cash flows from non-cash items Depreciation and amortisation 10 Working capital adjustments (Increase)/decrease in debtors 11 Increase/(decrease) in creditors 13 Net cash flow from operations Cash flows from investing activities Acquisitions of tangible assets 10 Net increase/(decrease) in cash and cash equivalents Reconciliation of net debt Cash and cash equivalents at the beginning of the reporting period Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the end of the reporting period |
Total 2024 £ (92,482) 34,163 (58,319) (11,076) (13,625) (83,020) - (83,020) 419,016 (83,020) 335,996 |
Total 2023 £ (27,191) 35,197 |
|---|---|---|
| 8,006 35,867 (145,335) |
||
| (101,462) (6,223) |
||
| (107,685) | ||
| 526,701 (107,685) |
||
| 419,016 | ||
Page 12
Brentry & Henbury Childrens Centre ‘Trading as EveryFamily’ Limited Notes to the Financial Statements For the Year Ended 31 March 2024
1 Accounting Policies
1.1 General information and basis of accounting
Brentry & Henbury Childrens Centre ‘Trading as EveryFamily’ Limited is a company limited by guarantee incorporated in the United Kingdom under the Companies Act. The maximum liability of each member is limited to £1. The address of the registered office is given on page 2. The nature of the charity’s operations and its principal activities are set out in the Trustees report on pages 3-8.
The financial statements have been prepared in £ sterling on the historical cost basis and 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 (FRS 102) (effective 1 January 2019)- (Charities SORP (FRS 102)) and the Companies Act 2006.
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2
Income
All income is included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
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Donation income is received by way of general grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable.
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Other trading activities income includes income in relation to fundraising and is included in the Statement of Financial Activities when receivable.
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Income from charitable activities is included in the period in which the charity is entitled to receipt, it is probable that economic benefits will flow to the entity and the amount can be reliably measured. Where income is received in advance of provision of services, income us deferred until the criteria for income recognition is met. Where income has not been received and services have been provided, income is accrued.
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Income from grants (including government grants), relating specifically to the provision of goods or services as part of charitable activities are included in full in the Statement of Financial Activities when receivable and in the period in which they relate to. Grants are deferred when monies have been received in advance of the period to which they relate. Where no period is specified, grants are recognised to the extent to which the charity has the ability to carry out the activities within their control. Performance related grants are included within Charitable Activities income.
1.3 Government grants
Government grants are accounted for when unconditionally due and reasonable assurance can be gained that it will be received. Where funds are received in advance, for a specified period, these funds are deferred and recognised in the period to which they relate. Where funds have not been received in a specified period, these funds will be accrued in debtors and recognised in the period to which they relate. Not all grants received have conditions and performance indicators attached, where this is the case, the income is included within donations. Performance related grants are included within Charitable Activities income.
Page 13
Notes to the Financial Statements For the Year Ended 31 March 2024
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the assets value.
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that activity. Expenditure includes attributable VAT which cannot be recovered.
Where costs cannot be directly attributed, they have been allocated to activities on a basis consistent with the use of the resource.
Direct costs including directly attributable salaries, are allocated on an actual basis to the activities.
Overheads and other salaries are allocated between expense headings on the basis of time spent.
Governance costs (now part of support costs) include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
1.5 Fixed assets
Depreciation is calculated to write off the cost of fixed assets over their estimated useful lives at the following rate:- Leasehold property – 60 years straight line
- Leasehold improvements – 53 years/ 3 years/ 5 years straight line Nursery equipment – 3 years/ 5 years straight line Fixtures and Fittings - 5 years straight line Computers - 3 years straight line
Fixed assets are valued at cost less depreciation. No assets are capitalised under £1,000. Fixed assets are reviewed annually for impairment.
1.6 Debtors
Accrued income comprises amounts due from funders and is recognised when the charity is entitled to the grant, receipt is probable and the amount can be measured reliably. Prepayments are valued at the amount prepaid.
1.7 Cash at bank and in hand
Cash at bank and in hand comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 14
Notes to the Financial Statements For the Year Ended 31 March 2024
1.8 Creditors
Creditors and provisions are recognised where the charity has a present obligation 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 obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.
1.9 Taxation
The company is a registered charity and is therefore not liable to corporation tax to the extent that income and gains are applied to the charitable objectives of the charity.
1.11 Pension contributions
The Charity operates a defined contribution pension scheme. The scheme and its assets are held by independent managers. Contributions are recognised in the Statement of Financial Activities in the period in which they become payable in accordance with the rules of the scheme.
1.12 Teachers pension scheme
The TPS is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees’ working lives with the academy trust in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quadrennial valuations using a prospective unit credit method. TPS is an unfunded multi-employer scheme with no underlying assets to assign between employers. Consequently, the TPS is treated as a defined contribution scheme for accounting purposes and the contributions recognised in the period to which they relate.
1.13 Fund accounting
General funds are unrestricted funds receivable or generated for the objects of the Charity without further specified purpose and are available as general funds.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets this criterion is charged to the fund, together with a fair allocation of management and support costs.
1.14 Operating leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases are charged to the Statement of Financial Activities as incurred over the term of the lease. The charity has an operating lease for the premises in which they operate, as well as photocopier and telephone leases. The title of the leased premises and equipment remains with the lessor.
1.15 VAT
The Charity is not VAT registered and therefore all costs are inclusive of VAT.
Page 15
Notes to the Financial Statements For the Year Ended 31 March 2024
1.16 Financial instruments
The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurements are as follows:
Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.
Cash at bank – is classified as a basic financial instrument and is measured at face value.
Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
Page 16
Notes to the Financial Statements For the Year Ended 31 March 2024
2 Donations and general grants
==> picture [507 x 167] intentionally omitted <==
----- Start of picture text -----
Unre- Rest- Unre- Rest-
stricted ricted Total stricted ricted Total
funds funds 2024 funds funds 2023
Donations and general grants
-
Donations & gifts 27,734 27,734 23,180 26,950 50,130
Grants - 18,650 18,650 - - -
27,734 18,650 46,384 23,180 26,950 50,130
----- End of picture text -----
3 Incoming resources from charitable activities
| Nursery income Local authority contracts Special Educational Needs funding Charitable activities- other 3 Other trading activities |
Unre- stricted funds £ 669,519 26,893 79,890 21,864 |
Rest- ricted funds £ - - - |
Total 2024 £ 669,519 26,893 79,890 21,864 798,166 |
Unre- stricted funds £ 614,952 124,078 62,315 4,488 |
Rest- ricted funds £ - - - - |
Total 2023 £ 614,952 124,078 62,315 4,488 |
|---|---|---|---|---|---|---|
| 798,166 | - | 805,833 | - | 805,833 | ||
| Trading activities: other | Unre- stricted funds £ 20,041 |
Rest- ricted funds £ - |
Total 2024 £ 20,041 |
Unre- stricted funds £ 7,682 |
Rest- ricted funds £ - |
Total 2023 £ 7,682 |
Page 17
Notes to the Financial Statements For the Year Ended 31 March 2024
5 Raising Funds
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----- Start of picture text -----
Unre- Rest- Unre- Rest-
stricted ricted Total stricted ricted Total
funds funds 2024 funds funds 2023
Fundraising and publicity £ £ £ £ £ £
Other fundraising costs 6,456 - 6,456 1,068 - 1,068
6,456 - 6,456 1,068 - 1,068
6 Charitable activities
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| 6 Charitable activities |
||||||
|---|---|---|---|---|---|---|
| Charitable activities Staff costs Curriculum costs Nusery shared equipment Room equipment and costs Community costs Nappies Food and catering costs Uniform costs Agency staff costs Rebranding costs Support costs (breakdown below) Governance costs (breakdown below) |
Unre- stricted funds £ 609,295 5,147 4,334 744 4,678 21 8,706 1,975 - 2,701 |
Rest- ricted funds £ 15,967 585 - - - - 3,712 - - - |
Total 2024 £ 625,262 5,732 4,334 744 4,678 21 12,418 1,975 - 2,701 657,865 287,064 5,688 950,617 |
Unre- stricted funds £ 600,954 9,484 4,911 10,828 478 114 13,962 1,370 770 4,154 |
Rest- ricted funds £ 11,700 - - - 907 - - - - 1,375 |
Total 2023 £ 612,654 9,484 4,911 10,828 1,385 114 13,962 1,370 770 5,529 |
| 637,601 282,179 5,688 |
20,264 4,885 - |
647,025 288,840 7,117 |
13,982 9,615 - |
661,007 298,455 7,117 |
||
| 925,468 | 25,149 | 942,982 | 23,597 | 966,579 | ||
Page 18
Notes to the Financial Statements For the Year Ended 31 March 2024
6 Charitable activities (continued)
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Unre- Rest- Unre- Rest-
stricted ricted Total stricted ricted Total
funds funds 2024 funds funds 2023
Support and governance cost £ £ £ £ £ £
Staff costs 108,284 - 108,284 134,551 7,800 142,351
Depreciation 34,163 - 34,163 33,500 1,698 35,198
Bank interest and charges 822 - 822 991 - 991
Premises costs 43,954 - 43,954 26,111 - 26,111
Admin costs 29,192 1,119 30,311 23,251 - 23,251
Insurance 7,750 - 7,750 5,836 - 5,836
Cleaning 37,557 - 37,557 42,068 - 42,068
Rates and room hire 6,256 - 6,256 6,626 - 6,626
Sundry 208 - 208 2,358 - 2,358
Training 3,242 - 3,242 5,351 117 5,468
IT costs 13,226 - 13,226 8,011 - 8,011
Advertising 1,291 - 1,291 186 - 186
Overhead recharges (3,766) 3,766 - - - -
Total support costs 282,179 4,885 287,064 288,840 9,615 298,455
Independent Examination fees 2,394 - 2,394 2,280 - 2,280
Accountancy 3,294 - 3,294 4,837 - 4,837
Total governance costs 5,688 - 5,688 7,117 - 7,117
287,867 4,885 292,752 295,957 9,615 305,572
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7 Extraordinary items
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Unre- Rest- Unre- Rest-
stricted ricted Total stricted ricted Total
funds funds 2024 funds funds 2023
£ £ £ £ £ £
HMRC PAYE/NI adjustment - - - 76,811 - 76,811
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The adjustment noted is the reversal of a previously identified liability which has been confirmed by HMRC to no longer be owed.
Page 19
Notes to the Financial Statements For the Year Ended 31 March 2024
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8 Net incoming resources before transfers
2024 2023
£ £
Is stated after charging:
Depreciation 34,163 35,197
Accountant remuneration - independent examination 2,394 2,280
Accountant remuneration - accounts and other services 2,694 4,837
9 Employees and employment costs
2024 2023
£ £
Wages and salaries 665,685 679,852
Employer’s NI 44,458 48,102
Pension contributions 43,403 27,051
753,546 755,005
2024 2023
Average monthly number of employees during the year:
Management 6 6
Support 8 8
Direct 24 28
38 42
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The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £43,403 (2023: £27,051)
No individual employee was paid over £60,000 (2023: none).
During the year, the trustee, R Twining, received remuneration (including employers NI & pension) totalling £32,215 (2023: £20,194). This was paid directly by the charity in respect of her staff member role and not in respect of services provided as a trustee. No trustees were paid travel expenses or reimbursed by the charity during the year (2023: none).
The key management personnel of the charity are considered to be the senior leadership team as detailed on page 2. The total costs to the charity of remuneration (including employers NI & pension) to the key management was £138,685 (2023: £130,364).
Page 20
Notes to the Financial Statements For the Year Ended 31 March 2024
10 Tangible fixed assets
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Leasehold Leasehold Nusery Fixtures &
Property Improvement equipment Fittings Computers Total
£ £ £ £ £ £
Cost
As at 01 April 2023 765,768 553,737 18,624 100,878 32,568 1,471,575
Additions - - - -
As at 31 March 2024 765,768 553,737 18,624 100,878 32,568 1,471,575
Depreciation
As at 01 April 2023 192,038 135,338 18,624 96,984 27,059 470,043
-
Charge for year 12,763 15,694 1,898 3,808 34,163
As at 31 March 2024 204,801 151,032 18,624 98,882 30,867 504,206
Net book value
As at 31 March 2024 560,967 402,705 - 1,996 1,701 967,369
As at 31 March 2023 573,730 418,399 - 3,894 5,509 1,001,532
11 Debtors
2024 2023
£ £
Trade debtors 23,271 16,853
Prepayments and accrued income 9,675 5,017
32,946 21,870
12 Cash at bank and in hand
2024 2023
£ £
Bank balances 335,996 419,016
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Page 21
Notes to the Financial Statements For the Year Ended 31 March 2024
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13 Creditors: Amounts falling due within one year
2024 2023
£ £
Other taxation and social security 9,140 9,732
Deferred income 3,750 3,644
Trade creditors 7,939 8,322
Other creditors 4,993 3,554
Accruals 6,830 21,025
32,652 46,277
Deferred income
2024 2023
£ £
Deferred income at 01 April 2023 3,644 19,976
Released from previous years (3,644) (19,976)
Resources deferred in the year 3,750 3,644
Deferred income at 31 March 2024 3,750 3,644
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Deferred income relates to contract income paid in advance (2023: April nursery fees invoiced in advance).
Page 22
Notes to the Financial Statements For the Year Ended 31 March 2024
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14 Statement of funds
Balance Balance
01.04.23 Income Expenditure Transfers 31.03.24
£ £ £ £ £
Designated - fixed asset fund 1,001,532 - - (34,163) 967,369
General unrestricted funds 389,558 845,941 (931,924) 29,532 333,107
Total unrestricted funds 1,391,090 845,941 (931,924) (4,631) 1,300,476
Restricted funds
The Key Fund 5,051 - (7,837) 2,786 -
Anthony Edmunds - 3,000 (226) - 2,774
Quartet Community Foundation - ASC - 5,000 (6,180) 1,180 -
Denman Fund - 1,000 (1,081) 81 -
Quartet Community Foundation - SEND - 5,000 (5,424) 424 -
Groundwork - 500 (91) - 409
Free Meals - 1,000 (1,117) 117 -
J&M Britton - 3,150 (3,193) 43 -
Total restricted funds 5,051 18,650 (25,149) 4,631 3,183
Total funds 1,396,141 864,591 (957,073) - 1,303,659
Statement of funds – prior year
Balance Balance
01.04.22 Income Expenditure Transfers 31.03.23
£ £ £ £ £
Designated funds 949,173 - - 52,359 1,001,532
General unrestricted funds 392,826 913,506 (944,050) 27,276 389,558
Total unrestricted funds 1,341,999 913,506 (944,050) 79,635 1,391,090
Restricted funds
Blossom room EIS 81,333 - (1,698) (79,635) -
The Key Fund - 26,950 (21,899) - 5,051
Total restricted funds 81,333 26,950 (23,597) (79,635) 5,051
Total funds 1,423,332 940,456 (967,647) - 1,396,141
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Page 23
Notes to the Financial Statements For the Year Ended 31 March 2024
Transfers relate to movement between general fund and the designated fund in line with the net book value of the tangible fixed assets held within unrestricted funds.
The designated fixed assets fund represents the net book value of tangible fixed assets held within unrestricted funds.
- Key Fund Social enterprise support fund
A grant of £26,950 was given by Key fund to Rebuild and diversify their income by developing a new programme of paid group/activities and improving marketing of existing services. It will fund part-time play workers to plan and run new paid groups, part fund a communications role to focus on marketing, and provide training and external support for marketing and developing new paid services.
Blossom Room EIS
A grant given by BCC in the year to 31 March 2018, to build an extension to the Blossom room specifically for children with special needs. The grant has no requirement to be held as a restricted fund once the grant had been spent on its intended use, therefore, the fund has been moved to unrestricted funds during the prior year, in line with the Charity SORP.
Anthony Edwards
A grant given towards the After School Club – to be spent on resources.
Quartet Community Foundation – ASC
A grant received towards the After School Club – a weekly group for children aged 8-11. This includes salaries, resources, hot meals, overheads and a management fee.
Denman Fund
A grant received towards running a parenting course at HMP Bristol, covering salaries, expenses and training costs (spent on a nurturing programme).
Quartet Community Foundation – SEND
A grant given towards a weekly group for children with SEND. The funding covers salaries of facilitators, overheads and resources.
Groundwork
Funding towards resources for gardening equipment in the community garden.
Free Meals
Funding towards hot meals for vulnerable daycare children.
J&M Britton
A grant received towards running a parenting course at HMP Bristol, covering salaries, expenses and training costs (spent on a nurturing programme).
Page 24
Notes to the Financial Statements For the Year Ended 31 March 2024
15 Analysis of net assets between funds
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Unre- Rest- Unre- Rest-
stricted ricted Total stricted ricted Total
funds funds 2024 funds funds 2023
£ £ £ £ £ £
Tangible assets 967,369 - 967,369 1,001,532 - 1,001,532
Current assets 365,759 3,183 368,942 435,835 5,051 440,886
Current liabilities (32,652) - (32,652) (46,277) - (46,277)
1,300,476 3,183 1,303,659 1,391,090 5,051 1,396,141
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16 Commitments under operating leases
On 31 March 2024 the charity had commitments under operating leases as follows:
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2024 2023
£ £
Expiry date:
Within one year - 486
Between two and five years -
- 486
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17 Related parties
There have been no related party transactions during the year, other than disclosed in Note 9 (2023: none, other than disclosed in Note 9).
18 Members’ liability
Each member of the charitable company undertakes to contribute to the assets of the charitable company in the event of it being wound up while they are a member, or within one year after they cease to be a member, such amount as may be required, not exceeding £5, for the debt and liabilities contracted before they ceased to be a member.
Page 25