Calthwaite Nursery Charlty No. 1108840 Company No. 05261501 Trustees. Report and Unaudlted Accounts 31 August 2024
Calthwaite Nursery Contents Page5 2to4 Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities Summary Income and Expenditure Account Balance Sheet Notes to the Accounts 9t015 Detai led Statement of Financial Activities 16to17 Page I
'.hwaite Nursery tees Annual Report The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 3 1 August 2024. REFERENCE AND ADMINISTRATIVE DEfAILS Company No. 05261501 Charity No. 1108840 Principal Office The Old Post Office Calthwaite Penrith Cumbria CAII 9QT Reglstered Offlce 3 Fisher Street Carlisle Cumbria CA3 8RR Dlrectors and Trustees The Directors of the charitable company are it5 Trustees for the purposes of charity law. The following Directors and Trustees served during the year.. C. Brough G. Gardner 8. Graham W. Hancock J.C. Harvey S. Howe (appointed 10,07,241 (resigned 10.07.241 L. Lawson (appointed 10,07.241 (resigned 10.07,241 J. Vaughan Company Secretary G. Gardner Accountants Tattersall Bailey 14A Maln 5tre¢t Cockermouth CA13 9LQ Page 2
thwaite Nursery 5tee5 Annual Report OBJEcfivES AND AcfiviTIES The purpose of the charity as set out in its governing document. The main activities undertaken in relation to those purposes is to provide nursery and toddler facilities to the local community including School Wrap Around facilitie5. ACHIEVEMENTS AND PERFORMANCE The Charity has continued to provide nursery, toddler and school wrap around care for local children in a calm from home provislon, for children to enjoy and develop within. Demand for nursery services has grown in the period and as at 31 August 2024 the nursery has continued to successfully deliver childcare in the period and contlnues to have a waitin8 list for its services. FINANCIAL REVIEW A review of the charity's financial position at the year end are shown in the attached f inancial statements, The Charity has a reserve policy which requires that the trustees can justify the holdin8 of income as reseNes The Charity holds this level of reserves for several purposes, including: to fulfil Its flnancial obligations in the event of a winding up of the charity, to reinvest in the nursery provlsion,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. Flnanclal posltlon Total income in the period was £381,561. In the financial year,the government began offering funding fundln8 to all qualifying children over the age of 2, which has increased the proportion of income the nursery receives f rom local council funding. Salary costs continue to be the largest cost of runnin8 nursery and after total c05t5 of £361,141, the Charity made a net Income of £20,420 Reserves policv Cash reserves were £2 13,345. The Charity has a reserve policy which requires that the trustees can justify the holding of income as reserves. The Charity holds thSs level of reserves for several purposes, including.. to f ulfil its financial obligations In the event of a winding up of the charity,, to reinvest Sn the nursery provislon,. and as working capltal for both day to day operatlons and in the event that the charities income drops below average or issues in payment of government funding. STRUCTURE, GOVERNANCE AND MANAGEMENT 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 ncw Irustccs 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 15 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 a5 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 Page 3
Calthwaite Nursery Tru5tee5 Annual Report 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. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any ti me the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence takinE reasonable steps for the prevention and detection of fraud and other irre8ularities. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP IFRS 102}, Signed on behalf of the board C, Brough Trustee 28 May 2025 Page 4
Calthwaite Nursery Independent Examiners Report Independent Examiner's Report to the trustees of Calthwaite Nursery I report to the charity trustees on my examination of the f inancial statements of Calthwaite Nursery for the year ended 31 August 2024. Responsibilities and basis of report As the charity's trustees of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'the 2006 Act. Havin8 satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eli8ible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charitie5 Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examlner's statement A5 the charity'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 l am qualified to undertake the examination because l am member of ICAEW, which is one ofthe listed bodies. I have completed my examination. I can conflrm that no material matters have come to my attention in connection wlth the examination giving me cause to believe: accounting records were not kept In accordance with sectlon 386 of the 2006 Act ,' or the financial Statements do not accord with those records,. or the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a'true and fair, view whlch Is not matter considered as part of an independent examination; or the f inancial statement5 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 IFRS 1021. I have no concern5 and have come acr055 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 f inancial statements to be reached. Luke Tattersall ICAEW Tattersall Bailey 14A Main Street Cockermouth CA13 9LQ 28 May 2025 Page 5
Calthwaite Nursery Statement of Financial Activities for the year ended 31 August 2024 Unrestricted fund5 Total funds Total funds 2024 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments 485 378,047 2,223 806 485 378,047 2,223 806 324,486 1,320 339 Total 381,561 381,561 326,145 Expenditure on: Raising funds Charitable activities Other 461 461 71 344,110 16,570 344,110 16,570 281,192 12.651 10 Total 361,141 361,141 293,914 Net gains on investments Net Income li 20,420 20,420 32,231 Transfers between funds Net Income before other 8alns/llosses) 20,420 20,420 32,231 Other galns and losses Net movement in funds 20,420 20,420 32,231 Reconclliatlon of funds: Total funds brought forward 204,074 204,074 171,843 Total funds carrled forward 224,494 224,494 204,074 Page 6
Calthwaite Nursery Summary Income and Expenditure Account for the year ended 31 AuEust 2024 2024 2023 Income 380,755 325,806 Interest and investment income 806 339 Gross income for the year Expenditure 381,561 326,145 357,525 289,559 Depreciation and charges for Impairment of fixed assets 3,616 4,355 Total expendlture for the year Net income before tax for the year 361,141 293,914 20,420 32,231 Net Income for the year 20,420 32,231 Page 7
Calthwaite Nursery Balance Sheet at 31 August 2024 Company No. 05261501 Notes 2024 2023 Fixed a55ets Tangible assets 13 20,421 20,421 22,701 22,701 Current assets Debtors Cash at bank and in hand 14 2,433 213,345 215,778 111,7051 2,468 199,671 202,139 120,7661 181,373 Creditors: Amount falling due within one year Net current assets 15 204,073 Total assets less current Ilabllltles 224,494 224,494 204,074 Net assets excluding penslon asset or Ilablllty 204.074 Total net assets 224,494 204,074 The funds of the charity Restrlcted funds Unrestrlcted funds General fund5 16 16 224,494 204,074 224,494 204,074 Reserves 16 Total funds 224,494 204,074 These accounts have been prepared in accordance with the special provlsions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 31 August 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The 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 on 28 May 2025 And signed on its behalf bv., C, Brough Trustee 28 May 2025 Page 8
Calthwaite Nursery Notes to the Accounts for the year ended 31 August 2024 l Accounting policies Basis of preparation 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 IFRS 102) leffective I January 20151 (Charities SORP IFRS 10211. the Financial Reporting Stand3r6 applicable in the U K and Republic of Ireland IFRS 1021 and the Companies Act 2006. Change in basls of accountlng or to previous accounts There has been no change to the accounting policies Ivaluation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accountlng Unrestricted funds These are available for use at the dlscretion of the trustees in furtherance of the general objects of the charity, Oesi8nated funds These are unrestricted f unds earmarked by the trustees for partlcular purpose5. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. These are avallable for use subject to restrictions imposed by the donor or through terms ofan appeal. Restricted funds Incame Recognitlon of Income Income is included in the Statement of Flnanclal Activities {SoFAI when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related expenditure Donations and legacies Where income has related expendlture the income and related expenditure is reported gross in the SOFA. Voluntary income received by way of grants, donations and gifts is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SOFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditurel where and facilities the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help Investment income Gains/llosses} on This includes any gain or1055 resulting from revaluing investments to market value at revaluation of the end of the year. fixed assets Gains/llosses} on investment assets The value of any volunteer help received is not included in the accounts. This is included in the accounts when receivable. This includes any gain or loss on the sale of investment5. Page 9
Calthwaite Nursery Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. These comprise the costs a5SOClated with attracting voSuntary income, fundraising trading costs and investment management costs, These comprise the costs incurred by the Charity in the delivery of its activities and services in the furtherance of its objects, including the making of grants and governance costs. All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustee5 at the end of the year but not yet paid. Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, includin8 any auditlindependent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs, Other expenditure These are support costs not allocated to a particular activlty. Expenditure on raising funds Expenditure on charitable activities Grants payable Taxatlon The charity is exempt from corporation tax on its charitable activities. Tangible fixed assets and depreciatlon Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Leasehold propertv IO% 10 yea r 5tr3ight line basi5 Fixtures,f ittings and equipment 10+20Yo Straight line basis Trade and other debtors Trade and other debtor5 are recognised at the settlement amount due after any trade discount offered. Prepayrnents are valued at the amount prepaid net of any trade discounts due. Cash and cash equlvalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current l labilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Trade and other creditors Short term creditors are measured at the transaction price. Other 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 normally recognised at their settlement amount after allowing for any trade discounts due. Page 10
Calthwaite Nursery Notes to the Accounts Pension costs The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered fund5, 2 Company status The company is a private company limited by guarantee and consequently does not have share capital. 3 Statement of Flnan¢lal Actlvltles - prlor year Unrestrlcted funds Total funds 2023 2023 Income and endowments from; Charitable activities Other trading activities Investments 324,486 1,320 339 324,486 1,320 339 Total 326,145 326,145 Expendlture on: Raising funds Charitable activities 71 71 285.547 285,547 8,296 Other 8,296 Total 293,914 293,914 Net income 32,231 32,231 Net Income before other galns/llossesl Other galns and losses: Net movement in funds 32,231 32,231 32,231 32,231 Reconclliatlon of funds: Total funds brought forward Total funds carrled forward 171,843 171,843 204,074 204,074 4 Income from donatlons and legacies Unrestricted Total Total 2024 2023 Donations 485 485 485 485 Page 11
Calthwaite Nursery Notes to the Accounts 5 Income from charitable actlvltles Unrestricted Total Total 2024 2023 Nursery fees Grants-Nursery 268,112 109,935 378,047 268,112 109,935 378,047 239,780 84,706 324,486 6 Income from other trading activities Unrestricted Total Total 2024 2023 Fundraisin8 events 2,223 2,223 2,223 2,223 1,320 1,320 7 Income from Investments Unrestrlcted Total Total 2023 2024 Bank interest received 806 806 339 806 806 339 8 Expendlture on ralsSng funds Unrestrlcted Total Total 2024 2023 Fundroi5ing troding costs Fundraisin8 events 461 461 71 461 461 71 9 Expenditure ort charltable actlvltles Unrestricted Total Total 2023 2024 Expenditure on choritoble octivities Wages Nursery costs- purchases Nursery running costs 275,729 30,546 37,835 275,729 30,546 37,835 228,559 22,428 30,205 344,110 344,110 281,192 Page 12
Calthwaite Nursery Notes to the Account5 10 Other expenditure Unrestricted Total Total 2024 2023 Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets 3,616 3,616 4,355 General administrative costs 9,236 9,236 4,846 Le831 and professional costs 3,718 3,718 3,450 16,570 16,570 12,651 11 Net Income before transfers 2024 2023 This is stated after charging.. Depreclatlon of owned f ixed assets 12 Staff costs No employee received emoluments in excess of £60,000. 3,616 4,355 The avera8e monthly number of full time equivalent employees durin8 the year was as follows: 2024 Number 21 21 2023 Number 19 19 13 Tanglble flxed assets Land and bulldlngs Flxtures,flttln g5 and equipment Total Cost or revaluatlon At 1st September 2023 Aéditions At 31 August 2024 Depreciation and Impalrment At 1st September 2023 Depreciation charge for the year At 31 Au8USt 2024 Net book values 84,375 67,354 1,336 68,690 151,729 1,336 153,065 84,375 84,374 44,654 129,028 3,616 3,616 84,374 48,270 132,644 At 31 August 2024 At 1st September 2023 20,420 22,700 20,421 22,701 Page 13
Calthwaite Nursery Notes to the Accounts 14 Debtors 2024 2023 Trade debtors Prepayments and accrued income 123 13041 2,772 2,468 2,310 2,433 15 Creditors: amounts falling due within one year 2024 2023 Bank loans and overdrafts Trade creditors Accruals 648 802 316 10,255 11,705 20,450 20,766 16 Movement In funds Incomlng resources Resources expended At 1st {Includln8 September other 2023 gains/lossesl At 31 August 2024 Restrlcted fund5'. Unrestrlcted funds: General funds 204,074 381,561 1361,141} 224,494 Total funds 17 Analysls of net assets between funds 204,074 381,561 1361,1411 224,494 Unrestricted funds Total Net current assets 204,073 204,073 204,073 204,073 18 Reconciliatlon of net debt 1st September 2023 At 31 August 2024 Cash flows Cash and cash equivalents 199.671 199.671 13,674 13,674 213,345 213,345 Net debt 199,671 13,674 213,345 19 Related party disclosures Controlling party The company 15 limited by guarantee and has no share capital; thus no single party controls the company. Page 14
Calthwaite Nursery Notes to the Accounts Page 15
CaSthwaite Nursery Detailed Statement of Financial Activities for the year ended 31 August 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Income and endowments from: Donations and legacies Donations 485 485 485 485 Charitable activities Nursery fees Grants-Nursery 268,112 109,935 378,047 268,112 109,935 378,047 239,780 84,706 324,486 Other trading activities Fundraising events 2,223 2,223 2,223 2,223 1,320 1,320 Investments Bank interest received 806 806 806 806 339 339 Total Income and endowments 381,561 381,561 326,145 Expendlture on: Costs of other trading activitie5 Fundraising events 461 461 71 461 461 71 Total of expendlture on ralslng funds 461 461 71 Charitable activities Wages Nursery costs- purchases Nursery running costs 275,729 30,546 37,835 344,110 275,729 30,546 37,835 344,110 228,559 22,428 30,205 281,192 Total of expendlture on charitable activities 344,110 344,110 281,192 General administrative costs, including depreciation and amortisation Depreciation of Fixtures.fittings and equipment Sundry expenses 3,616 3,616 4,355 9,236 12,852 9.236 12,852 4,846 9,201 Legal a nd professional costs Accountancy and bookkeeping Other legal and professional costs 3,420 3,420 2,770 298 298 680 Page 16
Calthwaite Nursery Detailed Statement of Financial Activities 3,718 3,718 3,450 Total of expenditure of other costs Total expenditure Net gains on investments 16,570 16.570 12.651 361,141 361,141 293,914 Net income 20,420 20,420 32,231 Net income before other gains/llosses) Other Gains 20,420 20,420 32,231 Net movement in funds 20,420 20,420 32,231 Reconclllatlon of funds: Total funds brought forward 204,074 204,074 171,843 Total funds carrled forward 224,494 224,494 204,074 Page 17