COMPANY REGISTRATION NUMBER: 04189604 CHARITY REGISTRATION NUMBER: 1110681
The Children's Garden Company Limited by Guarantee Unaudited Financial Statements 31 July 2023
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BU Ss P
Chartered Accountants
Camburgh House
27 New Dover Road
Canterbury
Kent
CT1 3DN
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The Children's Garden
Company Limited by Guarantee
Financial Statements
Year ended 31 July 2023
| Page | |
|---|---|
| Trustees’ annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities (including income and | |
| expenditure account) | 7 |
| Statement offinancial position | 8 |
| Notestothefinancialstatements | 9 |
The Children's Garden
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Director's Report)
Year ended 31 July 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 July 2023.
Reference and administrative details
Registered charity name The Children's Garden Charity registration number 1110681 Company registration number 04189604 Principal office and registered 26 Hazledene Road office London W4 3JB The trustees R Charriere F Clegg R Basnayake B McQuillan (Resigned 7 June 2023) Independent examiner A Collyer ACA Camburgh House 27 New Dover Road Canterbury Kent CT1 3DN
Structure, governance and management
Trustees are officially appointed by the Association and the candidates are proposed by other trustees or members of the management team. Trustees are chosen for their motivation and the specific knowledge and skills they can offer to the charity. They are appointed by the Association through majority vote during the Annual General Meeting. New trustees are expected to familiarise themselves with the charity's methods, governing documentation and the legal requirements attached to their position imposed by the Charities Act 2006 and the Companies Act 2006. All trustees are DBS checked and need to be approved by Ofsted.
The charity also complies with the rules and regulations imposed by Richmond Borough Council and is subject to Ofsted inspections.
Administrative information
The Children's Garden is situated at The Woodville Day Centre in Woodville Road, Ham, Surrey, TW10 7QW. The correspondence address is 26 Hazledene Road, London W4 3JB.
The kindergarten has been incorporated as a company limited by guarantee. None of the trustees hold shares and nor do they have any other financial interests in the company. Any profits are reinvested in the kindergarten to further improve its facilities and services offered.
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The Children's Garden
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Director's Report) (continueg)
Year ended 31 July 2023
Objectives and activities
The primary objective of the kindergarten is the provision of nursery education for children aged 3 to 6 1/2 years based on the teachings of the late Dr Rudolf Steiner.
Aims and Purpose
The mission of the kindergarten is to promote nursery education based on the teachings of Dr Rudolf Steiner.
Achievements and performance
During the year 2022/23 the kindergarten continued to provide high quality nursery education to a wide variety of families in the local community. Our unique approach to early years education offered a valuable element of choice to families in the area. We also continued to offer 1-2 weekly parent and child groups, which were run along the principles of Steiner education combined with the Emmi Pikler approach. The groups were well attended and offered useful support to parents with babies and very young children. Children who attend the parent and child group often join the kindergarten once they have reached the appropriate age.
In conjunction with Richmond Council The Children's Garden continued to offer the universal Early Education Funding to parents of 3 and 4 year olds, who were able to claim the grant for up to 15 hours of nursery education a week. The kindergarten was thus accessible to a wider range of families, which increased its overall benefit to the community. In compliance with the Code of Practice on the free entitlement to all 3- and 4-year-olds, The Children's Garden offers basic nursery education free of charge to 3 and 4 year olds. Charges are made for extra hours above the free entitlement.
Despite a good start in the autumn term, attendance levels did not reach the anticipated level over the course of the year, a trend that has continued into 2023/24. The kindergarten therefore continues to strive to increase its revenue through increased marketing, fundraising activities and exploring ways to add to our offer of services.
The trustees would again like to thank the parents of the kindergarten for the many ways in which they have helped in the running of the kindergarten by dedicating their time and professional expertise to raise extra funds for the kindergarten and organise valuable social events for the kindergarten community.
Financial review
The results for the year ended 31 July 2023 showa deficit of expenditure over income by £1,115 (2022: Surplus of £1,273). Our Reserves now stand at £8,906, which is significantly below the target of £20,000.
While incoming resources and in particular fees received did increase in the year, the deficit can be attributed to higher costs outweighing this, in particular on staffing costs. The majority of other costs remained well controlled.
Reserves Policy
The Children's Garden aims to keep a minimum reserve of £20,000. Any additional profits achieved are reinvested in the kindergarten to continuously improve its facilities and to provide further staff training.
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The Children's Garden
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 July 2023
Risk Management
The trustees actively review the major risks which the charity faces on a regular basis and have also examined other operational and business risks faced by the charity. The trustees confirm that they have established systems to mitigate the significant risks.
Trustees’ responsibilities statement
The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
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The Children's Garden
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Director's Report) (continued
Year ended 31 July 2023 The trustees’ annual report was approved on lb [2024 and signed on behalf of the board of foF: es by: —s Cee oe OR afters Trustee
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The Children's Garden
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of The Children's Garden
Year ended 31 July 2023
| report to the trustees on my examination of the financial statements of The Children's Garden (‘the charity’) for the year ended 31 July 2023.
Responsibilities and basis of report
The trustees, who are also the directors of the company for the purposes of company law, are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under 8.145 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the company charity is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examination, it is my responsibility to:
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examine the accounts under s.145 of the 2011 Act;
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follow the procedures laid down in the directions given by the Charity Commission under s.152(5) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Independent examiner's statement
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements 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 financial statements 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).
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The Children's Garden
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of The Children's Garden (continued)
Year ended 31 July 2023
| 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.
A Collyer ACA Independent Examiner
Camburgh House 27 New Dover Road Canterbury Kent CT1 3DN
26 Hard. 2024
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The Children's Garden
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 July 2023
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|---|---|---|---|---|---|---|---|
|2023|2022|
|Unrestricted|
|funds|Totalfunds|Total|funds|
|Note|£|£|£|
|Income and|endowments|
|Donations|and|legacies|5|130|130|4,749|
|Other trading|activities|6|77,552|77,552|71,485|
|Investment|income|7|159|159|9|
|Total|income|77,841|77,841|76,243|
|Expenditure|
|Expenditure|on|charitable|activities|8,9|78,956|78,956|74,970|
|Total|expenditure|78,956|78,956|74,970|
|Net (expenditure)/income|and|net movement|in funds|(1,115)|(1,115)|1,273|
|Reconciliation|of funds|
|Total|funds|brought|forward|10,021|10,021|8,748|
|Total funds|carried|forward|8,906|8,906|10,021|
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 14 form part of these financial statements.
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The Children's Garden
Company Limited by Guarantee
Statement of Financial Position
31 July 2023
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|Note|£|2023|£|2022£|
|Fixed|assets|
|Tangible|fixed|assets|15|10|14|
|Current|assets|
|Debtors|16|2,822|1,793|
|Cash|at bank|and|in|hand|14,527|24,856|
|17,349|26,649|
|Creditors:|amounts|falling|due|within|one|year|17|8,453|16,642|
|Net|current assets|8,896|10,007|
|Total|assets|less|current|liabilities|8,906|10,021|
|Net assets|8,906|10,021|
|Funds|of the|charity|
|Unrestricted|funds|8,906|10,021|
|Total|charity funds|19|8,906|10,021|
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For the year ending 31 July 2023 the charity was entitied to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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e The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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e The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the smail companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 8/6) 2024and are signed on behalf of the board by:
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[ Ky
Charriere
Trustee
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The notes on pages9 to 14 form part of these financial statements.
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The Children's Garden
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 26 Hazledene Road, London, W4 3JB.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Deferred income
Deferred income relates to nursery fees received in advance for the following term.
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Operating leases
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the lease term.
Going concern
There are no material uncertainties about the charity's ability to continue.
Tax status
As the company has been a registered charity since August 2005, the company is exempt from corporation tax liability.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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The Children's Garden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 July 2023
3. Accounting policies (continued)
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
- 20% reducing balance
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
4. Limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such amount as may be required not exceeding £1.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 130 | 130 | 4,749 | 4,749 | |
| 6. | Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Fundraising events | 3,512 | 3,512 | 2,222 | 2,222 | |
| Grant income | - | - | 7,008 | 7,008 | |
| Fees | 71,102 | 71,102 | 56,306 | 56,306 | |
| Parentand toddler group | 2,578 | 2,578 | 2,999 | 2,999 | |
| Registration fees | 360 | 360 | 585 | 585 | |
| Holiday club | _ | - | 2,365 | 2,365 | |
| 77,552 | 77,552 | 71,485 | 71,485 |
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The Children's Garden
Company Limited by Guarantee
Notes to the Financial Statements (continued
Year ended 31 July 2023
7. Investment income
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|Unrestricted|Total|Funds|Unrestricted|Total|Funds|
|Funds|2023|Funds|2022|
|£|£|£|£|
|Bank|interest|receivable|159|159|9|9|
|8.|Expenditure|on|charitable|activities|by fund|type|
|Unrestricted|Total|Funds|Unrestricted|Total|Funds|
|Funds|2023|Funds|2022|
|3|£|£|£|
|Early years|education|71,260|71,260|66,182|66,182|
|Support|costs|7,696|7,696|8,788|8,788|
|78,956|78,956|74,970|74,970|
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9. Expenditure on charitable activities by activity type
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|---|---|---|---|---|---|
|Activities|
|undertaken|Total|funds|Total|fund|
|directly|Support|costs|2023|2022|
|£|£|£|£|
|Early years|education|71,260|7,621|78,881|74,899|
|Governance|costs|-|75|75|71|
|71,260|7,696|78,956|74,970|
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10. Analysis of support costs
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|---|---|---|---|---|---|---|
|Early|years|
|education|Total|2023|Total|2022|
|£|£|£|
|Governance|costs|75|75|re|
|Accountancy|Fees|1,093|1,093|1,094|
|Bookkeeping|Fees|6,480|6,480|5,928|
|Legal|and|Professional|Fees|48|48|1,695|
|7,696|7,696|8,788|
|Net|(expenditure)/income|
|Net|(expenditure)/income|is|stated|after|charging/(crediting):|
|2023|2022|
|£|=|
|Depreciation|of tangible|fixed|assets|4|5|
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11. Net (expenditure)/income
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The Children's Garden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 July 2023
12. Independent examination fees
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|---|---|---|---|---|---|---|
|2023|2022|
|£|£|
|Fees|payable|to|the|independent|examiner|for:|
|Independent|examination|of the|financial|statements|565|580|
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13. Staff costs
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
|The|total|staff costs|and|employee|benefits|for the|reporting|period|are|analysed|as|follows:|
|2023|2022|
|£|£|
|Wages|and|salaries|50,149|44,701|
|Employer contributions|to|pension|plans|2,493|2,140|
|Other|employee|benefits|145|125|
|52,787|46,966|
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The average head count of employees during the year was 3 (2022: 3). The average number of fulltime equivalent employees during the year is analysed as follows:
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|---|---|---|---|---|
|2023|2022|
|No.|No.|
|Number|of|staff|2|2|
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No employee received employee benefits of more than £60,000 during the year (2022: Nil).
14. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
15. Tangible fixed assets
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|---|---|---|---|---|---|---|---|---|---|
|Equipment|Total|
|£|£|
|Cost|
|At|1|August|2022|and|31|July|2023|3,344|3,344|
|Depreciation|
|At|1|August 2022|3,330|3,330|
|Charge|for|the|year|4|4|
|At 31|July|2023|3,334|3,334|
|Carrying|amount|
|At 31|July|2023|10|10|
|At|31|July 2022|14|14|
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The Children's Garden
Company Limited by Guarantee
Notes to the Financial Statements (continued
Year ended 31 July 2023
16. Debtors
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Trade debtors | 704 | _ | |
| Prepayments and accrued income | 2,118 | 1,793 | |
| 2,822 | 1,793 | ||
| 17. | Creditors: amounts falling due within oneyear | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Trade creditors | 510 | 795 | |
| Accruals and deferred income | 7,073 | 15,012 | |
| Social securityand othertaxes | 670 | 639 | |
| Other creditors | 200 | 196 | |
| 8,453 | 16,642 |
18. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,493 (2022: £2,140).
19. Analysis of charitable funds
Unrestricted funds
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At
4 August 202 At
2 Income Expenditure 31 July 2023
£ £ £ £
General funds 10,021 77,844 (78,956) 8,906
At
1 August 202 At
1 Income Expenditure 31 July 2022
£ £ £ £
General funds 8,748 76,243 (74,970) 10,021
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The Children's Garden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 July 2023
20. Analysis of net assets between funds
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|---|---|---|---|---|---|---|
|Unrestricted|Total|Funds|
|Funds|2023|
|£|£|
|Tangible|fixed|assets|10|10|
|Current|assets|17,349|17,349|
|Creditors|less|than|1|year|(8,453)|(8,453)|
|Net|assets|8,906|8,906|
|Unrestricted|Total|Funds|
|Funds|2022|
|£|£|
|Tangible|fixed|assets|14|14|
|Current|assets|26,649|26,649|
|Creditors|less than|1|year|(16,642)|(16,642)|
|Net assets|10,021|10,021|
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