REGISTERED COMPANY NUMBER: 05484125 (England and Wales) REGISTERED CHARITY NUMBER: 1111660
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2022
for
Raunds Child Centre
Willsons Chartered Accountants Carlton House High Street Higham Ferrers Northamptonshire NN10 8BW
Raunds Child Centre
Contents of the Financial Statements for the Year Ended 31 August 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
Raunds Child Centre
Report of the Trustees for the Year Ended 31 August 2022
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 2022. 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
Objectives and aims
The objectives are to enhance the development and education of children primarily under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups and by: Offering appropriate play, education and care facilities and training courses, together with the right of parents to take responsibility for and to become involved in the activities of such groups, ensuring that such groups offer opportunities for all children whatever their race, culture, religion, means or ability; encouraging the study of the needs of such children and their families and promoting public interest in and recognition of such needs; instigating and adhering to and furthering the aims and objectives of the Pre-School Learning Alliance.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The main achievement was that the playgroup continued to serve the local community in partnership with the parent carers.
The trustees have had regard to the charity Commission's guidance on public benefit. This has been achieved by running the playgroup on a value for money basis for its users. The trustees have ensured that funding has been obtained to cover the payroll costs and to make a contribution to the other resources costs. The trustees have worked with parents, to ensure that their children are educated properly. The Pre-School Learning Alliance policies are implemented by the trustees and a wealth of guidance is available to parents, backed up by workshops and access to outside resources such as Health Visitors and speech experts.
FINANCIAL REVIEW
Financial position
The financial results of the charity are set out on page 4. The charity, as normal, is dependant on government grants for the operation of the nursery. The Nursery received an OFSTED report of good for the inspection on 2 May 2019. The OFSTED inspection happens every four years.
Reserves policy
The unrestricted general funds can be used in accordance with the charitable objectives at the discretion of the trustees. The aim is to hold sufficient reserves to cover six months of expenditure, although in reality the reserves normally cover three months.This lower level of reserves is not expected to affect the charity's operations as long as it continues to receive regular income in the form of nursery grants.
Going concern
The charity has spent a significant amount of reserves on repairs to the nursery roof during the year. The reserves have increased to £38,683 from £25,934 in 2021.
The trustees have considered the matters above, the current economic outlook, the level of funds held and the expected level of income and expenditure for 12 months from the date authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. Therefore the financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist.
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.
Page 1
Raunds Child Centre
Report of the Trustees
for the Year Ended 31 August 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees
New trustees tend to be appointed at the Annual General Meeting, having received the required votes. In most cases, these trustees are already familiar with the operations of the company. The main issue is that of confidentiality and new trustees are made fully aware of this importance.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05484125 (England and Wales)
Registered Charity number
1111660
Registered office
Carlton House High Street Higham Ferrers Northamptonshire NN10 8BW
Principal address
Co/ Raunds Playgroup The Mobile Mountbatten Way Raunds Northamptonshire NN9 6PA
Trustees
Ms A Covell Trustee/treasuer Ms E J Powles Trustee (resigned 20.10.22) Miss C F Doherty Trustee Ms J Neal Trustee (resigned 11.12.21) Ms T Cooper Trustee (resigned 20.10.22) C Long Chairperson Miss R Barry Trustee (appointed 12.11.21) Miss J L York (appointed 20.10.22) Mrs C A Nash (appointed 20.10.22) Mrs L G Cannon (appointed 20.10.22)
Company Secretary
Ms S L Broughton
Independent Examiner
C Baird FCA Willsons Chartered Accountants Carlton House High Street Higham Ferrers Northamptonshire NN10 8BW
Page 2
Raunds Child Centre
Report of the Trustees
for the Year Ended 31 August 2022
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 9 May 2023 and signed on its behalf by:
C Long - Trustee
Page 3
Independent Examiner's Report to the Trustees of Raunds Child Centre
Independent examiner's report to the trustees of Raunds Child Centre ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2022.
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
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.
C Baird FCA
Willsons Chartered Accountants Carlton House High Street Higham Ferrers Northamptonshire NN10 8BW
31 May 2023
Page 4
Raunds Child Centre
Statement of Financial Activities for the Year Ended 31 August 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Charitable activities 127,642 Investment income 2 8 Other income - Total 127,650 EXPENDITURE ON Charitable activities Charitable activities 113,371 Governance costs 1,530 Total 114,901 NET INCOME/(EXPENDITURE) 12,749 RECONCILIATION OF FUNDS Total funds brought forward 25,934 TOTAL FUNDS CARRIED FORWARD 38,683 |
Restricted fund £ - - - - - - - - - - |
31.8.22 Total funds £ 127,642 8 - 127,650 113,371 1,530 114,901 12,749 25,934 38,683 |
31.8.21 Total funds £ |
|---|---|---|---|
| 104,656 | |||
| 1 | |||
| 3,410 | |||
| 108,067 | |||
| 110,042 | |||
| 1,530 | |||
| 111,572 | |||
| (3,505) | |||
| 29,439 | |||
| 25,934 |
The notes form part of these financial statements
Page 5
Raunds Child Centre
Balance Sheet
31 August 2022
| 31.8.22 | 31.8.21 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 7 | 740 | - | 740 | 987 |
| CURRENT ASSETS | |||||
| Cash at bank and in hand | 49,376 | - | 49,376 | 36,366 | |
| CREDITORS | |||||
| Amounts falling due within one year | 8 | (11,433) | - | (11,433) | (11,419) |
| NET CURRENT ASSETS | 37,943 | - | 37,943 | 24,947 | |
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 38,683 | - | 38,683 | 25,934 | |
| NET ASSETS | 38,683 | - | 38,683 | 25,934 | |
| FUNDS | 9 | ||||
| Unrestricted funds | 38,683 | 25,934 | |||
| TOTAL FUNDS | 38,683 | 25,934 | |||
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 9 May 2023 and were signed on its behalf by:
C Long - Trustee
The notes form part of these financial statements
Page 6
Raunds Child Centre
Notes to the Financial Statements
for the Year Ended 31 August 2022
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', the Charities Act 2011and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
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.
Property - 10% on cost Improvements to property - 20% on cost Equipment - 25% on reducing balance
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.
Taxation
The company 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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Leasing commitments
Operating leases are written off against income on a straight line basis over the term of the lease.
continued...
Page 7
Raunds Child Centre
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
1. ACCOUNTING POLICIES - continued
Leasing commitments
Grants
Grants received are disclosed within the fee income for the year in which the related expenditure takes place. Grants that specifically relate to future periods are carried forward as deferred income within creditors.
2. INVESTMENT INCOME
| 2. | INVESTMENT INCOME | ||
|---|---|---|---|
| 31.8.22 | 31.8.21 | ||
| £ | £ | ||
| Deposit account interest | 8 | 1 | |
| 3. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 31.8.22 | 31.8.21 | ||
| £ | £ | ||
| Independent examiner fee | 1,530 | 1,530 | |
| Depreciation - owned assets | 247 | 329 | |
| Other operating leases | 3,000 | 3,000 | |
4. TRUSTEES' REMUNERATION AND BENEFITS
For year ended 31 August 2022 and 31 August 2021, no Trustees received remuneration.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.
5. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: General staff |
31.8.22 £ 88,506 916 1,516 90,938 31.8.22 6 |
31.8.21 |
|---|---|---|
| £ 81,698 1,013 1,357 84,068 |
||
| 31.8.21 | ||
| 6 |
No employees received emoluments in excess of £60,000.
continued...
Page 8
Raunds Child Centre
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
| 6. COMPARATIVES FOR THE STATEMENT OF INCOME AND ENDOWMENTS FROM Charitable activities Charitable activities Investment income Other income Total EXPENDITURE ON Charitable activities Charitable activities Governance costs Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 7. TANGIBLE FIXED ASSETS COST At 1 September 2021 and 31 August 2022 DEPRECIATION At 1 September 2021 Charge for year At 31 August 2022 NET BOOK VALUE At 31 August 2022 At 31 August 2021 |
FINANCIAL ACTIVITIES Unrestricted Restricted fund fund £ £ 104,656 - 1 - 3,410 - 108,067 - 110,042 - 1,530 - 111,572 - (3,505) - 29,439 - 25,934 - Improvements to Property property Equipment £ £ £ 15,000 17,128 18,222 15,000 17,128 17,235 - - 247 15,000 17,128 17,482 - - 740 |
FINANCIAL ACTIVITIES Unrestricted Restricted fund fund £ £ 104,656 - 1 - 3,410 - 108,067 - 110,042 - 1,530 - 111,572 - (3,505) - 29,439 - 25,934 - Improvements to Property property Equipment £ £ £ 15,000 17,128 18,222 15,000 17,128 17,235 - - 247 15,000 17,128 17,482 - - 740 |
FINANCIAL ACTIVITIES Unrestricted Restricted fund fund £ £ 104,656 - 1 - 3,410 - 108,067 - 110,042 - 1,530 - 111,572 - (3,505) - 29,439 - 25,934 - Improvements to Property property Equipment £ £ £ 15,000 17,128 18,222 15,000 17,128 17,235 - - 247 15,000 17,128 17,482 - - 740 |
Total funds £ 104,656 1 3,410 108,067 110,042 1,530 111,572 (3,505) 29,439 25,934 Totals £ 50,350 49,363 247 49,610 740 987 |
|---|---|---|---|---|
| - | - | 987 |
continued...
Page 9
Raunds Child Centre
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Net Pay Control Pension Accrued expenses Deferred grant income 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 1.9.21 £ 25,934 25,934 Incoming resources £ 127,650 127,650 At 1.9.20 £ 29,439 29,439 |
31.8.22 31.8.21 £ £ 937 750 (300) - - 252 2,415 2,934 8,381 7,483 11,433 11,419 Net movement At in funds 31.8.22 £ £ 12,749 38,683 12,749 38,683 Resources Movement expended in funds £ £ (114,901) 12,749 (114,901) 12,749 Net movement At in funds 31.8.21 £ £ (3,505) 25,934 (3,505) 25,934 |
|---|---|---|
9. MOVEMENT IN FUNDS
continued...
Page 10
Raunds Child Centre
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 108,067 108,067 |
Resources Movement expended in funds £ £ (111,572) (3,505) (111,572) (3,505) |
Resources Movement expended in funds £ £ (111,572) (3,505) (111,572) (3,505) |
|---|---|---|---|
| (3,505) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.9.20 | in funds | 31.8.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 29,439 | 9,244 | 38,683 |
| TOTAL FUNDS | 29,439 | 9,244 | 38,683 |
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 £ 235,717 235,717 |
Resources Movement expended in funds £ £ (226,473) 9,244 (226,473) 9,244 |
Resources Movement expended in funds £ £ (226,473) 9,244 (226,473) 9,244 |
|---|---|---|---|
| 9,244 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2022.
11. COMPANY STATUS
The charity is a company limited by guarantee. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member.
Page 11
Raunds Child Centre
Detailed Statement of Financial Activities for the Year Ended 31 August 2022
| Detailed Statement of Financial Activities for the Year Ended 31 August 2022 |
||
|---|---|---|
| 31.8.22 | 31.8.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Investment income | ||
| Deposit account interest | 8 | 1 |
| Charitable activities | ||
| Fees | 13,751 | 4,881 |
| Grants | 113,891 | 99,775 |
| 127,642 | 104,656 | |
| Other income | ||
| Job retention grant | - | 3,410 |
| Total incoming resources | 127,650 | 108,067 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 88,506 | 81,698 |
| Social security | 916 | 1,013 |
| Pensions | 1,516 | 1,357 |
| Rent | 3,000 | 3,000 |
| Insurance | 1,856 | 1,707 |
| Light and heat | 2,731 | 3,029 |
| Telephone | 681 | 639 |
| Postage and stationery | 1,470 | 1,438 |
| Sundries | 485 | 248 |
| Consumables | 5,341 | 5,867 |
| Snacks and drinks | 2,250 | 2,066 |
| Days out | 204 | - |
| Travel | 94 | - |
| Staff training | 882 | 195 |
| Repairs and maintenance | 987 | 4,641 |
| Uniforms and licences | 816 | 333 |
| Bookkeeping, payroll and admin | 995 | 2,124 |
| Bank charges | 390 | 358 |
| Plant and machinery | 247 | 329 |
| Other interest | 4 | - |
| 113,371 | 110,042 | |
| Support costs | ||
| Governance costs | ||
| Independent examiner fee | 1,530 | 1,530 |
| Total resources expended | 114,901 | 111,572 |
| Net income/(expenditure) | 12,749 | (3,505) |
This page does not form part of the statutory financial statements
Page 12