Company registration Iiumber.. 05392562 Charity registration number.. 1110941 North Tynies Childcare Limited (A company limiied by guarantee) Annual Report alld Financial Statements for the Year Ended 31 March 2023 ACCA TYNEREDE ACCOUNIANCY
North Tynies Childcare Limited Contents Reference and Administrative Details Strategic Report Twstees, Report Statement of Trustees, Responsibilities Independent Examiner'5 Report Statement of Financial Activities Balance Sheet 7t08 Notes to the Financial Statements 9t016
North Tynies Childcare Limited Refer¢n¢¢ and Administrative D¢t#ils Tru5t¢es S J Batyjes A Taylor R C Moore P Troop C Hopkins Secretary Charity Registration Number 1110941 Company Regi5tratioTh Nuber 05392562 The charity is incorporated in England and Wales. Belliii¥han) SLI)001s Site Redesniouth Road Belliii¥han) Hexham Nortliumberland NE48 ?EN Prillcipal Office Independent Examiner TyneRede Accountancy Ltd Lloyds Bank House Bellingham Hexham Northumberland NE48 2AZ Ballkers Unit), Trust Bank Nine Brindle}. Place 4 Oozells Square Bimingham BI 2HB Page I
North Tynies Childcare Limited Strat¢gi¢ Report for the Year Ended 31 Mar¢h 2023 The trustees, who are directors for the purposes of company law. present their strategic report for the year ended J l March 2023. in compliance with s414C of the Companies Act 2006. Financial review Puliry on reserve Reserves are required to bridge the gap between spending and income to cary out emergei)cy repairs and other expenditure. Upon the iiicepiioii of North Tynies C.hildcare Lid 'granis in advance, were awarded io address I'uture shortfalls due to the unpredictsble nature of the business. The reserves have been ii)strumental in the continuation of North Tynies Childcare Ltd thus providing financial stability to sustain the high-quality delivery of services despite the current economic backdrop and our reliance on local demographics. We continue to apply for grants to enable continuing repairs and renewals from local and national sources. JMve.flmenÉpoliry and objerlives Under the inemorandum and articles of association, the charity ha5 the power to make any investments which trllstee5 see fit. The strdtegic report was approved by the trustees of the charity on . gnd signed on its behalf by.. S J Barnes Trustee Page 2
North Tynies Childcare Limited Trust¢¢s' Report The trustees. who are directors for the purposes of company law, present the aiinual report together with the financial 5tatement5 of the charitable coinpany for the year ended 31 March 2023. Objectives and activities Objects aims The objects of the Charity are.. a) To advance the education of the children and in particular those children below compulsory school age. b) By the promotion and provision of day care facilities for such children which stimulate their growth and development through play. c) To advance the educatioi) and development of children from primarily within the North Tyne and Redesdale area. in pafticular b}, the provision of a comprehensive childcare service offering facilities for safe and satisfying play and to provide or tl) arrnnge for the provision of such ancillary, facilities and activities as are Clinsidered necessary or desirable for the fulfilment of the objects. Structure? governance and mallagement Nalure ofgoverning documenl The organisation is a charitable company limited by guarantee, incorporated on 15 March 2005 and registered as a chariry on 15 March 2005. The company was estsblished under g Memorandum of Association, M,hich established the objecis and powers of the chariiable company and is governed under it's Articles of Association. In the event of the company being wound up members are required io contribute an amount not exceeding £1. Recruilmenl uiid ffippoirtlmenl oftrustees The Trngtees of North Tyiiies Childcare Ltd Inake up the Volui)tary Management Committee. The committee eoinprises of school teachers, staff and childrei)'s parentsltarers. North TleS Childeare Ltd may by ordinary resolution appoii)t a person who is willing to act to be a Trustee. The annual report was approved by the trustees of the charity on . and Signed oil its behalf by.. S J Barnes Trustee Page 3
North Tynies Childcare Limited Statement of Trust¢¢s' Respon$ibilitie$ The trustees (who are a150 the directors of North Tynies Childcare Limited for the PUTP05es of company law) are responsible for preparing the trustees, report and the financial statements iii accordai)ce with the United KingdoTn Accouiiting Standards (United Kiiigdom Generallv Accepted Accounting Practice) and applicable law and regiilations. Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees musi not approve the financial siatements unless they are satisfied that the}, give a true and fair view of the state of affairs of ihe chariiable company and of its incoming resources and application of resources. including its income and expenditure, for that period. In preparing these financial statements. the trustees are reqiiired to.. select suitable accounting policies and apply them con5lStently,' observe the methods and principles in the Chariiies SORP; make judgements and estimates that are reasonable and prudent; state whether applicable UK Accountin¥ St<indard5 have been followed, subject to any material departure5 di5c105ed aiid explaiiied in the financial statement5; aiid prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will coniinue in business. The trustees are responsible for keeping adequate accoiinting records that are slltTicient to show and explaiii th¢ charitable company's transactions and disclose with reasonable acciiracy at any time the financial position of th¢ charitable company and enable them to ensure that the financial statements compl}, with the Compa]iies Act 2006. The}, are also responsible for safeguarding the assets of the charitable company and heiice for taking reasonable steps for the preventioii and detection of fraud and other Iegular1tIts. Approved by the trustees of the charity on . alld signed on its behalf by.. S J Barnes Trustee Page 4
North Tynies Childcare Limited Independent Examiner's Report to the trustees of North Tyni¢s Child¢are Limited ("the Company") I report to the charity trllstees oil my examination of the accounts of the Cornpany for the year ended 31 March 2023. Responsibilities and basis of report As the charity'5 trllstees of the Company (and a150 Its directors for the PUTP05es of company law) you are responsible for the preparation of the account5 in accordance with the requirement5 of the Cornpanies Act 2006 {'the 2006 Act,). Havingl 5atj5fied inJ'5elf that the accoui)ts of North T)'nies Childcare Liniited are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examinatioii, I report iii respect of my examination of your charitv's accounts as carried out under section 145 of the Charities Act 2011 {'the 2011 Act,). In carrying out my examinatioi) I have followed the Directions given by the Charity Commission under section 145(5Kb) of the 2011 Act. Independent examiner's statement I have completed my examination. I confim) that no matters have come to my attention in connection with the examination giving Tne cause to believe.. accounting records were i)ot kept in respect of North Tymies Childcare Limited as required by section i86 of the 2006 Act.. or 2. the accounts do not accord with those records,. or 3. the account5 do not comply '1th the accountiiig requirement5 of 5ectioii 396 of the 2006 Act Other than any requiremeiit that the accounts ¥ive a 'true and fair view, which 15 not a Inatter considered a5 part of an iiidependent examination., or 4. Ihe accounts have nlli been prepared in aecordanee wilh the meihods and principles of the Siatemeni of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland {FRS 10211. I have i)0 concems and have come across no other Inatters in connection with the examii)ation to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Christopher Gillie FCCA Llovds Bank House Bellingham Hexhain Northuinberland NE48 2AZ Date.. Page 5
North Tynies Childcare Limited Statement of Finaneial Attivities for the Year Ended 31 March 2023 (Ineluding Income and Expenditure Account and Statement of Total Reeognised Gains and Losses) Total 2023 Unrestricted Note Income and Endowments fro. Other trading activiiies Investment income 207,658 1.046 207,658 1,046 Total Income ?08,704 208,704 Expenditure on.. Raising tunds (?19,0171 {?19,017} Total Expenditure (?19.0171 (219.017} Net expenditure Traiisfers betw'een funds (10,313) 6,183 (10,313} 6,18i Reeoneiliation of funds Total funds catried forward 15 (4,130) 14,130) Total 2022 Unrestrieted Note Income and Endowments from: Donations and le¥acies Other trading activities Investment income 10,945 218,184 61 10,945 218,184 61 Total IT]come 229,190 229,190 Expenditure on.. Raising tunds (?10,2401 {?10,240} Total Expenditure (210,240) (?10,240} Net income Trnnsfers between funds 18,950 (18,950} 18,950 (18,9f O} R¢¢onciliation of funds Total funds carried forward All of the charity's activitie5 derive from continuing operations during the above two periods. The funds breakdown for ?022 is showii in note 15. The notes on pages 9 to 16 foTn) ali iiitegrnl part of these financial statements. Page 6
North Tynies Childcare Limited (Registration number: 05392562) Balanee Sheel as at 31 Mareh 2023 2023 2022 Note Fixed assets Tangible assets 10 5,087 5,575 Current assets Debtors Cash at bank and in hand 29,619 123,13) 31,431 145,417 152,7)2 176,848 Creditors: Amounts falling due within one year 13 15,196) (19,467} Net current assets 147.556 157,381 Total assets less current liabilities 152,643 162,956 Creditors: Amounts falling due after more than one year 14 {156,773) {162,956} Net liabilities 14.1 ?0} Funds of the Charity: Unrestrieted income funds Unrestricted 14,130} Total funds 15 14.130} For the financial year ending i l March 2023 the charity was entitled to exemption from audit ui)der section 477 of the Companies Act 2006 relating to small con)panies. Directors. responsibilities.. The members have not required the charity to obtain an audit of its accounts for the year in qiiestion in accordance with section 476 of the Companies Act 2006,. and The directors acknoivledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companie5 regime. The notes on pages 9 to 16 foTn) ali iiitegrdl part of these financial statements. Page 7
North Tynies Childcare Limited (Registration number: 05392562) Balanee Sheel as at 31 Mareh 2023 The financial statements on pages 6 to 16 were approved by the trustees, and authL)rised for issue on . and signed on their behalf by.. S J Barnes Trustee C Hopkins Secretary The notes on pages 9 to 16 foTn) ali iiitegrdl part of these financial statements. Page 8
North Tynies Childcare Limited Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2023 Charity status The charity is limited by guaralltee, incorporated iii England and Wales, and consequently does not hav¢ shar¢ capital. Each of the trustees is liable to contribiite an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its registered office is.. Bellingham Schools Site Redesmouth Road Bellingham Hexham Northumberland NE48 2EN 2 Aeeounting policies Sumrnary of significant accounting policies and key accounting estimates The principal accouniing policies applied in the preparaiion of these financial s[aMen1S are sei out below. These policies have been consisiently applied to all the years presented. unless oiherwise stated. Statement of COpIlanCe 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 (FRS 1021) {issued in October 2019} (Charities SORP IFRS 10))), the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland {FRS 102) and the Companies Aci 2006. Basis of preparation North T}'nies Childcare Limitcd meets the defiiiition of a public benefit entity under FRS 102. Assets and liabilities are initially. recogniscd at historical cost or transaction value unless Otherwise stated in the relevant accounting policy notes. Going eoneern '[ lic trnstees consider that there are no material uncertainties abolit the charity's ability to continu¢ as a going concem nor any significant areas of uncertainty that affect the catrying value of assets held by the charity. Exemption from preparing a cash flow statement The cliarity. opted to earl J. adopt Biilletiii I piiblished on 2 February 2016 and have therefore not ii)cluded a cash flow statement in these financial statements. Income and endowments All income is recog511ised once the charity has entitleineiit to the income. it is probable that the income will be received and the amount of the income receivable can be inea5ured reliably. Page 9
North Tynies Childcare Limited Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2023 Gramts receivftble Grants are recognised when the charity has an entitlement to the funds and any condition5 linked to the grants have been inet. Where perfotynance condition5 are attached to the gFrant aiid are yet to be tnet, the income 15 recogni5ed as a liability and included 011 the balance sheet as deferred income to be released. Inveslnienl inconie Dividends are recognised once the dividend has been declared and noiification h&s been received of the dividend due. Expenditure All cxpcnditiir¢ is rQgnised once there is a legal or constructive obligation to that ¢xp¢nditur¢, it is probable settlemcnt is required and the amoiint can be measured reliably. All costs are allocated to the applicable expenditure hcading that aggregaie similar costs to that ¢ategory. Where costs cannot be dire¢tl}' attribiited to particular headiiig% they have been allocated on a basi% con%istent with the use of resoiirces, with Central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of th¢ asset's use. Other support costs are allated based oii th¢ spread of stsff costs. Rai&lrtgftsiids These are costs incurred iii attracting voluntary income. the management of investments and those incurred in trading activities that raise fui)ds. Support cost5 Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use L)f resliurces, for example. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by Iheir usage. Taxation The charity is CL)nsidered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the defiiiition of a charitable company for UK corporation tax purposes. Accordingly, the chariry is potentially exempt from taxatioii in respect of income or capitsl gains received within categories covered by Chapier 3 Part I l of the Corporation Tax Act 2010 or Sectioii 256 of Ihe Taxation of Chargeable Gains Act 1992, to the extellt that such income or gains are applied exclusively to charirable purposes. Tangible fixed assets Individual fixed assets costing £1 00.00 or more are initially recorded at cost. Depreeiation and amortisation Dtpreciatioii is provided 011 tangible fixed assets so as to WTite off the cost or valuation, less any estimated residual value, over their expected usefi]l economic life as follows.. Asset elass Office equipment Le&sehold improvements Externals Depreeiation method and rate 150/0 reducing balance l O % reducing balance 15 /0 reducing balance Page 10
North Tynies Childcare Limited Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2023 Trade debtors '[ radc dcbtor% ar¢ amounts due from customers for merchandise sold or services perfomi¢d in th¢ ordinary ¢ourse of biisin¢ss. Trade debtors are recognised initially at th¢ transaction price. They ar¢ subsequently measured at amortised ¢ost using the effectivc iiiterest method, less provision for impaimient. A provision for the impaimient of trade debtors is established when there is objective evid¢nc¢ that thc charity M'ill not be able to Collert all amounts due according to the origFinal tern]5 of the receivables. Cash and cash equivalents Cash and cash equivaleiits comprise cash on hand and call deposits, and other short-temi highly liquid investmeiits that are readily convertible to a knowi amount of cash and are subject to an insignificant risk of changFe in value. Trade creditors Trade credittsrs ale obligatioi)s to pay for goods 01 services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Charity does i)ot have an unconditional right. at the end of the ieptsrting peiiod, to defer settleinei)t of tl)e creditor for at least twelve months after tht reporting date. If thert is an unconditional right to defer settlement for at least twelve n)onths after the reporting date. they are prestnttd as non-currtnt liabilities. Trade creditors are recognised initially at the transaetilin price and subsequently measured at amortised cost using the effective interest method. Fund structure Unrestricied income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a panicular area or for specific purposes, the use of which is restricted to that area or purpose. Finaneial instruments Cl&.f5Ifict1Q Financial assets aiid financial liabilities are reco¥ni5ed when the charity becoines a party to the contractual provisions of the instrutneiit. Financial liabilities and equity instruineiits are classified according to the substance of the contractual aTran¥enient5 entered into. Ali equity i115trument is any contract that evidence5 a residual interest in the assets of the charity after deductiii¥ all of it5 liabilitie5. Page 11
North Tynies Childcare Limited Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2023 ReLognilion cndmeasuremenl All financial assets and liabilities are iiiitially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value throuiwh profit or loss, which are initially inea511red at fair value (which is Iiotinally the traiisactioii price ekcludiiig transaction cost5). unles5 the arrangement con5titute5 a Iinancing transaction. If ali arrangement constitutes a finaiiLing transaction. the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of iiiterest for a similar debt instnjment. Fiiiancial assets and liabilities are only offset in the stateinent of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis. or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are seitled, b) the charity transfers to another party substantiallv all of ihe risks and rewards of ownership of the financial asset. or c) the charity. despite having retained some. but not all. significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only 'hell the obligation specified in Ihe contract is discharged, cancelled or expires. 3 Income from donations and legacies Total 2023 Total 2022 Grants, including capital grants,. Grants 10,945 10,945 4 Income from other Irading activitl¢S Unrtstri¢ted Total 2023 Total 2022 General Tradin¥ iiicotne. Childcare fees 2 3 4 fiindiiig Subsidies and miwellaneous incom¢ SEN Funding 108,050 97,605 2,003 108,050 97,605 2,003 115,274 101,747 548 615 207,658 207,658 218,184 Page 12
North Tynies Childcare Limited Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2023 5 Investment income Unr¢5tricted Total 2023 Total 2022 General Interest receivgble alld similar income; Interest receivable on bank deposits 1,046 1,046 61 6 Expenditure on raising funds a) Costs of trading activities Unrestricted Total 2023 Total 2022 General Note Subcontract cost Accountan¢y fees Staff costs Staff NIC (Employers) Stal'f peiisions (Defined contribution) pension scheme Trnining costs Light: heat ai)d water Geiieral iiisiirance 5,614 1.140 169,600 7,966 5,614 1,140 169,600 7,966 2.082 165,537 6,621 2,849 220 3,958 2,849 220 3,958 2,616 121 5,370 1.059 4,006 5,?13 1,229 7,884 1,394 2.523 142 Rcpairs and renewals Office costs Equipment and consumables Catering Sui)dry expei)ses Cleaning Motor expenses Le£al and professional fees Bank charges Depreciation of fixtures and fittings Depreciation of leasehold property improvements 5.124 6,901 5,124 6,901 1,185 6,877 1,069 2,214 991 6,877 1.069 2,214 991 2,270 251 2,270 251 2,145 293 598 598 651 190 190 211 219,017 219,017 210,240 Page 13
North Tynies Childcare Limited Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2023 7 Trustees remuneration and expenses No truste¢s, nor any persons connected with them, have received any remuneration from the charity durillg th¢ year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 8 Staff ¢051s The monthly average number of persons {including senior managcment I leadership team) employed by the charity. during the year expressed as full time equivalents 2S as follo'S.. 2023 No 2022 No Childcare Workers Administration and Support 10 10 12 12 812022- 9) of the above employees participated in the Defined Contribiition Pension Schemes. Contributions to the employee pension schemes for the year totalled £2,849 (2022 - £2,616). No employee received ernolllments of more than £60,000 during the year. 9 Taxation The charity is a registered charity and is therefore exempt from taxation. Page 14
North Tynies Childcare Limited Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2023 10 Tangible fixed assets Externals and Ibffice equipment Leasehold improv¢ment5 Total Cost At l April 2022 Additions 11,997 9,195 21,192 300 At 31 March 2023 12.297 9,195 ?1,492 Depreciation At l April 2022 Char¥e for the year 8,309 598 7,308 190 15.617 788 At i l March 2023 8,907 7.498 16,405 Net book value At i l March 2023 3,390 1,697 i,087 At i l March 2022 3,688 1,887 5,575 1 l Debtors 2023 2022 Trade debtors Prepaynents 28,?8j 1.336 31,086 345 29,619 12 Ck)sh and eash equivalents 2023 2022 Cash on hand Cash at bai)k 50 123,083 18 145,399 123,133 145,417 13 Creditors: amounts falling due within one year 2023 2022 Trade crediiors Other taxation and Sla] securiry Other creditors Accruals 1,574 15,768 970 3,310 731 5,196 19,467 Page 15
North Tynies Childcare Limited Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2023 14 Creditors: amounts falling due after one year 2023 2022 Accruals Deferred income 6,183 156,77i 156,77) 156,773 16? 956 15 Funds Incoming resources Resource5 expended Balance at 31 March 2023 Transfers Unrestricted General ?08,704 {219,017) 6,183 14,130) Page 16