REGISTERED COMPANY NUMBER: 05261501 (England and Wales) REGISTERED CHARITY NUMBER: 1108840
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
FOR
CALTHWAITE NURSERY
Tattersall Bailey Chartered Accountants 14A Main Street Cockermouth Cumbria CA13 9LQ
CALTHWAITE NURSERY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
CALTHWAITE NURSERY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Our objective is to provide nursery and toddler facilities to the local community including School Wrap Around facilities.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Charity has continued to provide nursery, toddler and school wrap around care for local children in a calm home from home provision, for children to enjoy and develop within. Demand for nursery services has grown in the period and as at 31 August 2023 nursery has a waiting list for it's services.
In the year the Charity appointed a new nursery manager. Additionally, the nursery was appointed the Smile4Life campaign and a garden party was held for all parents and extended families. Nursery has continued to successfully deliver childcare in the period and now has a waiting list for its services.
FINANCIAL REVIEW
Financial position
Full details of the Charities financial performance are shown in the attached financial statements. Total income in the period was £326,145. In April 2023 nursery fees were increased to cover the increased costs of running nursery, given the inflation levels experienced. Salary costs continue to be the largest cost of running nursery and after total costs of £293,483, the Charity made a net income of £32,231.
Reserves policy
Cash reserves were £199,671. The Charity has a reserve policy which requires that the trustees can justify the holding of income as reserves. The Charity holds this level of reserves for several purposes, including: to fulfil its financial obligations in the event of a winding up of the charity; to reinvest in the nursery provision; and as working capital for both day to day operations and in the event that the charities income drops below average or issues in payment of government funding.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
The charity is governed by its articles of association and is incorporated as a private limited company. The Charity may by ordinary resolution appoint a person who is willing to act to be a Director. Those interested in becoming a Director are required to have an existing member give notice not less than fourteen nor more than thirty-five clear days before the date of the meeting, stating the members intention to propose the person as a Director, containing the details that, if the person were to be appointed, the Charity would have to file at Companies House; and is signed by the person who is to be proposed to show his or her willingness to be appointed. All members who are entitled to receive notice of a general meeting must be given not less than seven nor more than twenty-eight days notice of any resolution to be put to the meeting to appoint a Director.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05261501 (England and Wales)
Registered Charity number
1108840
Page 1
CALTHWAITE NURSERY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2023
Registered office
3 Fisher Street Carlisle Cumbria CA3 8RR
Trustees
Mr J C Harvey Headteacher Mrs L A Taylor (resigned 25.10.23) Dr J Vaughan Mrs G Gardner Mrs C Brough Mrs W Hancock S Howe (appointed 13.7.23)
Company Secretary
Dr J Vaughan
Independent Examiner
Luke Tattersall Tattersall Bailey Chartered Accountants 14A Main Street Cockermouth Cumbria CA13 9LQ
Approved by order of the board of trustees on 11 March 2024 and signed on its behalf by:
Mrs C Brough - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CALTHWAITE NURSERY
Independent examiner's report to the trustees of Calthwaite Nursery ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2023.
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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can 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 matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
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
-
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.
Luke Tattersall
Tattersall Bailey Chartered Accountants 14A Main Street Cockermouth Cumbria CA13 9LQ
Date: .............................................
Page 3
CALTHWAITE NURSERY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies - Charitable activities Nursery 324,486 Other trading activities 2 1,320 Investment income 3 339 Total 326,145 EXPENDITURE ON Raising funds 71 Charitable activities Nursery 293,843 Total 293,914 NET INCOME 32,231 RECONCILIATION OF FUNDS Total funds brought forward 171,843 TOTAL FUNDS CARRIED FORWARD 204,074 |
Restricted fund £ - - - - - - - - - - - |
31.8.23 Total funds £ - 324,486 1,320 339 326,145 71 293,843 293,914 32,231 171,843 204,074 |
31.8.22 Total funds £ 318 273,349 - 9 273,676 - 233,329 233,329 40,347 131,496 171,843 |
|---|---|---|---|
The notes form part of these financial statements
Page 4
CALTHWAITE NURSERY
BALANCE SHEET 31 AUGUST 2023
| 31.8.23 | 31.8.22 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | fund | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| FIXED ASSETS | ||||||
| Tangible assets | 8 | 22,701 | - | 22,701 | 26,606 | |
| CURRENT ASSETS | ||||||
| Debtors | 9 | 2,468 | - | 2,468 | 1,826 | |
| Cash at bank | 199,671 | - | 199,671 | 147,929 | ||
| CREDITORS | 202,139 | - | 202,139 | 149,755 | ||
| Amounts falling due within one year | 10 | (20,766) | - | (20,766) | (4,518) | |
| NET CURRENT ASSETS | 181,373 | - | 181,373 | 145,237 | ||
| TOTAL ASSETS LESS CURRENT | ||||||
| LIABILITIES | 204,074 | - | 204,074 | 171,843 | ||
| NET ASSETS | 204,074 | - | 204,074 | 171,843 | ||
| FUNDS | 12 | |||||
| Unrestricted funds | 204,074 | 171,843 | ||||
| TOTAL FUNDS | 204,074 | 171,843 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that 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 charitable 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 charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 11 March 2024 and were signed on its behalf by:
Mrs C Brough - Trustee
The notes form part of these financial statements
Page 5
CALTHWAITE NURSERY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost Fixtures and fittings - 20% on cost and 10% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
31.8.23 31.8.22 £ £ - Fundraising events 1,320
continued...
Page 6
CALTHWAITE NURSERY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
3. INVESTMENT INCOME
4.
| INVESTMENT INCOME | ||
|---|---|---|
| 31.8.23 | 31.8.22 | |
| £ | £ | |
| Bank interest received | 339 | 9 |
| NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
31.8.23 £ 4,355 |
31.8.22 £ 2,102 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
7.
| Nursery No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 318 Charitable activities Nursery 273,349 Investment income 9 Total 273,676 EXPENDITURE ON Charitable activities Nursery 233,329 NET INCOME 40,347 |
31.8.23 19 Restricted fund £ - - - - - - |
31.8.22 17 Total funds £ 318 273,349 9 273,676 233,329 40,347 |
|---|---|---|
continued...
Page 7
CALTHWAITE NURSERY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| fund | fund | funds | |||
| £ | £ | £ | |||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 131,496 | - | 131,496 | ||
| TOTAL FUNDS CARRIED FORWARD | 171,843 | - | 171,843 | ||
| 8. | TANGIBLE FIXED ASSETS | ||||
| COST | Short leasehold £ |
Fixtures and fittings £ |
Totals £ |
||
| At 1 September 2022 | 84,375 | 66,904 | 151,279 | ||
| Additions | - | 450 | 450 | ||
| At 31 August 2023 | 84,375 | 67,354 | 151,729 | ||
| DEPRECIATION | |||||
| At 1 September 2022 | 84,374 | 40,299 | 124,673 | ||
| Charge for year | - | 4,355 | 4,355 | ||
| At 31 August 2023 | 84,374 | 44,654 | 129,028 | ||
| NET BOOK VALUE | |||||
| At 31 August 2023 | 1 | 22,700 | 22,701 | ||
| At 31 August 2022 | 1 | 26,605 | 26,606 | ||
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| Trade debtors | 31.8.23 £ (304) |
31.8.22 £ 226 |
|||
| Prepayments | 2,772 | 1,600 | |||
| 2,468 | 1,826 | ||||
continued...
Page 8
CALTHWAITE NURSERY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.8.23 | 31.8.22 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 316 | 86 |
| Accruals | 20,450 | 4,432 |
| 20,766 | 4,518 |
11. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| Within one year Between one and five years MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 1.9.22 £ 171,843 171,843 Incoming resources £ 326,145 326,145 At 1.9.21 £ 131,496 131,496 |
31.8.23 31.8.22 £ £ 6,215 8,286 - 6,215 6,215 14,501 Net movement At in funds 31.8.23 £ £ 32,231 204,074 32,231 204,074 Resources Movement expended in funds £ £ (293,914) 32,231 (293,914) 32,231 Net movement At in funds 31.8.22 £ £ 40,347 171,843 40,347 171,843 |
|---|---|---|
12. MOVEMENT IN FUNDS
continued...
Page 9
CALTHWAITE NURSERY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
12. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 273,676 273,676 |
Resources Movement expended in funds £ £ (233,329) 40,347 (233,329) 40,347 |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.9.21 £ 131,496 131,496 |
Net movement in funds £ 72,578 72,578 |
At 31.8.23 £ 204,074 204,074 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 599,821 599,821 |
Resources Movement expended in funds £ £ (527,243) 72,578 (527,243) 72,578 |
|---|---|---|
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2023.
Page 10
CALTHWAITE NURSERY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023
| 31.8.23 | 31.8.22 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | - | 318 |
| Other trading activities | ||
| Fundraising events | 1,320 | - |
| Investment income | ||
| Bank interest received | 339 | 9 |
| Charitable activities | ||
| Nursery fees | 239,780 | 185,456 |
| Grants - Nursery | 84,706 | 87,893 |
| 324,486 | 273,349 | |
| Total incoming resources | 326,145 | 273,676 |
| EXPENDITURE | ||
| Other trading activities | ||
| Other costs - Events | 71 | - |
| Charitable activities | ||
| Wages | 228,559 | 177,306 |
| Insurance | 842 | 818 |
| Repairs & renewals | 7,752 | 8,331 |
| Light and heat | 8,120 | 3,464 |
| Rent and rates | 8,658 | 8,639 |
| Sundries | 4,833 | 5,105 |
| Nursery costs - purchases | 22,428 | 22,245 |
| Fixtures and fittings | 4,355 | 2,103 |
| Support costs | 285,547 | 228,011 |
| Governance costs | ||
| Sundries | 4,846 | 2,662 |
| Accountancy fees | 2,770 | 2,656 |
| Legal and professional fees | 680 | - |
| 8,296 | 5,318 | |
| Total resources expended | 293,914 | 233,329 |
| Net income | 32,231 | 40,347 |
This page does not form part of the statutory financial statements
Page 11
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