Charity registration number 1113357 (England and Wales)
Company registration number 05568542
ABC CHILDCARE (IPSWICH) LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ABC CHILDCARE (IPSWICH) LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr I Rowe |
|---|---|
| Mr D Gordon | |
| Miss J K Smith | |
| Secretary | Miss J K Smith |
| Charity number (England and Wales) | 1113357 |
| Company number | 05568542 |
| Principal address | 537 Foxhall Road |
| Ipswich | |
| Suffolk | |
| IP3 8LR | |
| Registered office | 537 Foxhall Road |
| Ipswich | |
| Suffolk | |
| IP3 8LR | |
| Independent examiner | Staines and Co |
| 235 Foxhall Road | |
| Ipswich | |
| Suffolk | |
| IP3 8LF |
ABC CHILDCARE (IPSWICH) LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 12 |
ABC CHILDCARE (IPSWICH) LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
Objectives and activities
The objects of the charity is to enhance the development and education of children in the east of Ipswich area aged 2 to 11 years by encouraging parents to understand and provide for the needs of their children.
The activities carried out by the charity for the public benefit are the continued running of PRe-School, After School, Holiday and Breakfast Club services so parents are safe in the knowledge their children are being properly looked after.
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England & Wales.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Significant activities and achievements against objectives
Financial review
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Major risks
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
ABC Childcare (Ipswich) Limited is a company limited by Guarantee, governed by it's Memorandum & Articles of Association dated 2nd March 2009.
The company is a registered charity with the Charities Commission. Anyone over the age of 18 can become a member of the company. Each Trustee must contribute £1 each on the winding up of the company.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr I Rowe
Mr D Gordon Mr B Chisnall (Resigned 19 August 2024) Miss J K Smith
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ABC CHILDCARE (IPSWICH) LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Recruitment and appointment of trustees
Trustees are appointed at the company's AGM in accordance with Clause 4 of the Articles of Association.
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).
The company's current policy concerning the payment of trade creditors is to:
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settle the terms of payment with suppliers when agreeing the terms of each transaction;
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ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
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pay in accordance with the company's contractual and other legal obligations.
Trade creditors of the company at the year end were equivalent to XX day's purchases, based on the average daily amount invoiced by suppliers during the year.
Organisational structure
The company is controlled by the committee consisting of Trustee's and Directors elected annually in accordance with Clause 4 of the Articles of Association.
The trustees (who are also the Directors of ABC Childcare (Ipswich) Limited for the purpose of company law) are responsible for preparing the Trustee's Report and the financial statements in accordance with United Kingdom accounting standards and applicable law and regulations.
The trustees report was approved by the Board of Trustees.
Miss J K Smith Trustee
Mr D Gordon Trustee
6 May 2025
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ABC CHILDCARE (IPSWICH) LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ABC CHILDCARE (IPSWICH) LIMITED
I report to the trustees on my examination of the financial statements of ABC Childcare (Ipswich) Limited (the charity) for the year ended 31 December 2024.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of [ENTER IN DATABASE cy1015], 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 that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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4 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 financial statements 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 financial statements to be reached.
Staines and Co
235 Foxhall Road Ipswich Suffolk IP3 8LF 7 May 2025
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ABC CHILDCARE (IPSWICH) LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 141,225 | 108,056 |
| Charitable activities | 4 | 104,256 | 106,556 |
| Other trading activities | 5 | 1,858 | 1,752 |
| Investments | 6 | 5,437 | 2,852 |
| Total income | 252,776 | 219,216 | |
| Expenditure on: | |||
| Raising funds | 7 | 235,109 | 244,152 |
| Other expenditure | (542) | 542 | |
| Total expenditure | 234,567 | 244,694 | |
| Net income/(expenditure) and movement in funds | 18,209 | (25,478) | |
| Reconciliation of funds: | |||
| Fund balances at 1 January 2024 | 393,366 | 418,844 | |
| Fund balances at 31 December 2024 | 411,575 | 393,366 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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ABC CHILDCARE (IPSWICH) LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
| Notes Fixed assets Tangible assets 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities The funds of the charity Unrestricted funds 16 |
2024 £ 887 166,322 167,209 (7,622) |
£ 251,988 159,587 411,575 411,575 411,575 |
2023 £ 1,997 136,558 138,555 (5,963) |
£ 260,774 132,592 |
|---|---|---|---|---|
| 393,366 | ||||
| 393,366 | ||||
| 393,366 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 6 May 2025
Mr D Gordon Miss J K Smith Trustee Trustee
Company registration number 05568542 (England and Wales)
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ABC CHILDCARE (IPSWICH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
Charity information
ABC Childcare (Ipswich) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 537 Foxhall Road, Ipswich, Suffolk, IP3 8LR.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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ABC CHILDCARE (IPSWICH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it's probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to a particular headings they have been allocated on a basis consistent with the use of the resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the assets used. Other support costs are allocated based on the spread of the staff costs.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings Straight line over 50 years Leasehold land and buildings 25% reducing balance furniture, fixtures and equipment 25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Taxation
The Charity is considered to pass the tests set out in Paragraph 1, Schedule 6 of the of the Finance Act 2010 and therefore meets the definition of a charitable company for UK Corporation Tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3, Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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ABC CHILDCARE (IPSWICH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
1.10 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Grants | 141,225 | 108,056 |
4 Charitable activities
| Pre School | Out of School | Total | Pre School | Out of School | Total | |
|---|---|---|---|---|---|---|
| Fees | Club Fees | 2024 | Fees | Club Fees | 2023 | |
| 2024 | 2024 | 2023 | 2023 | |||
| £ | £ | £ | £ | £ | £ | |
| Services provided | 21,555 | 82,701 | 104,256 | 29,226 | 77,330 | 106,556 |
- 5 Income from other trading activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Fundraising events | 1,858 | 1,752 |
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ABC CHILDCARE (IPSWICH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
| 6 | Income from investments | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Interest receivable | 5,437 | 2,852 | |
| 7 | Expenditure on raising funds | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Fundraising and publicity | |||
| Staging fundraising events | 1,441 | 2,556 | |
| Trading costs | |||
| Other trading activities | 6,153 | 10,366 | |
| Staff costs | 170,304 | 162,689 | |
| Depreciation and impairment | 9,870 | 10,768 | |
| Support costs | 47,341 | 57,773 | |
| 233,668 | 241,596 | ||
| Total costs | 235,109 | 244,152 | |
| 8 | Net movement in funds | 2024 | 2023 |
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): | |||
| Fees payable for the independent examination of the charity's financial statements | - | - | |
| Depreciation of owned tangible fixed assets | 9,870 | 10,768 |
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
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ABC CHILDCARE (IPSWICH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10 Employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries Other pension costs |
2024 Number 11 2024 £ 167,876 2,428 170,304 |
2023 Number 11 |
|---|---|---|
| 2023 £ 160,542 2,147 |
||
| 162,689 |
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
11 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
12 Tangible fixed assets
| Freehold land and buildings Leasehold land and buildings furniture, fixtures and equipment £ £ £ Cost At 1 January 2024 303,846 41,241 81,462 Additions - - 2,167 At 31 December 2024 303,846 41,241 83,629 Depreciation and impairment At 1 January 2024 54,708 37,353 74,797 Depreciation charged in the year 6,097 972 2,801 At 31 December 2024 60,805 38,325 77,598 Carrying amount At 31 December 2024 243,041 2,916 6,031 At 31 December 2023 249,134 3,888 7,752 |
Total £ 426,549 2,167 |
|---|---|
| 428,716 | |
| 166,858 9,870 |
|
| 176,728 | |
| 251,988 | |
| 260,774 |
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ABC CHILDCARE (IPSWICH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
| 12 Tangible fixed assets 13 Debtors Amounts falling due within one year: Trade debtors 14 Creditors: amounts falling due within one year Corporation tax payable Other taxation and social security Payments received on account Trade creditors Accruals and deferred income 15 Retirement benefit schemes Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes |
(Continued) 2024 2023 £ £ 887 1,997 2024 2023 £ £ - 542 1,349 3,380 4,867 - 616 1,261 790 780 7,622 5,963 2024 2023 £ £ 2,428 2,147 |
(Continued) 2024 2023 £ £ 887 1,997 2024 2023 £ £ - 542 1,349 3,380 4,867 - 616 1,261 790 780 7,622 5,963 2024 2023 £ £ 2,428 2,147 |
|---|---|---|
| 2023 £ 542 3,380 - 1,261 780 |
||
| 5,963 | ||
| 2023 £ 2,147 |
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
16 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At | 1 | January | Incoming | Resources | At |
31 | December | |
|---|---|---|---|---|---|---|---|---|
| 2024 | resources | expended | 2024 | |||||
| £ | £ | £ | £ | |||||
| General funds | 393,366 | 252,776 | (234,567) | 411,575 |
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ABC CHILDCARE (IPSWICH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
| 16 | Unrestricted funds | (Continued) | ||||
|---|---|---|---|---|---|---|
| Previous year: | At 1 January | Incoming | Resources | At |
31 December | |
| 2023 | resources | expended | 2023 | |||
| £ | £ | £ | £ | |||
| General funds | 418,844 | 219,216 | (244,694) | 393,366 |
17 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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