COMPANY N(). 05632588 RECilSTERF.D LFlIllllTY NO. 1116160 ABFRDEEN PARKNIJRSERY (COMPANY LIMITb.'t) Ely GuAIiAN'I'LL.: Wl'i'i i()11 I. SHARF. CAPI'I'AI.) RF.'PORT AND FINANCIAL STATEMENTS 'OR'I'I IF YE.AlI ENDI.:D 31 MAIiLH 2024
ABERDEEN PARK NURSERY INDEX TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page No Trustees, Amiual Report (including Directors, Report) Independent Examiner's Report Statement of Financial Activities (including Income and Expenditure Account) Balance Sheet Statement of Cash Flows 10- 17 Notes to the Financial Statements
ABERDEEN PARK NURSERY TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR F.NDED 31 MARCH 2024 The trustees present their annual report and financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provision of the Statement of Recommended Practice {SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Memorandum and Articles of Association, the Charities ALt 2011, the Companies Act 2006 and Accounting and Reporting by Chartties: Statemcnl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland publish¢d in October 2019. Objeclive andAcllvltlas llie purposes ofAberdeen Park Nursery and the charilable company's objects. iptclude.. To advance the education of children aged 5 and under in Islington (and suOndIn¥ area) by offering play and learning facilities and ensuring that such play and facilities offer opportunities for all children whatever their race, Lulture, religion, gender, means or ability. To offer the opportunity for parcnts to take responsibility and to become involved in the activitics of the Nursery. To advancc the education and training of adults in the provision of care, reLfedtioniil facilities for children and young people. The main objective of ihe churilable c()mpany i.f iu.. Provide aclivitie¥, which cover all the area5 of learning for children. The churitable comptiny aims to meet chil(Iren's social, emotional, physical and intellectual needs in a safc, friendly environment. The charitable Lumpany values parentslcarers input and makes every endeavour to work in partnership with parents and L¢irers. Children learn by exploringy and developing their interests. The nursery has a lovely baby room, excitinb garden dnd great fami ly atmosphere. In shaping the objeclives for the year and planning the charitable company'.5 activities, the members (company direclors and charity trustees) referred to the guidance contained in the Chariiy Commission'y gyeneral guidance on public b¢nefil when revicwinby the charitable Company's aims and objectives and in pl<inn ing future artivilies. H()w Objeclives and Aclivilies Deliver Puhli¢ Benefil The public benefits of the charitable company are the provision of education to children aged 5 and under and the advan¢¢menl of education and training of adults in thc scclor. The public benefits directly relat¢ to ihe charitable company's key objective5. No detrimcnt or harni arises from the charitable Company providing the public benefils. The public benefits provided by the charitable company are to members of the public and future gcneralions who are in need uf safe and affordable childcarc. The fee5 generdted from these activities assist the charitable company with the delivery of its objcctives. The objects and funding limits the services the charitable company provides to those residents in Islington (and suOund1ng area) but access to the public benefits is not unreasonably restricted. The main objective is to ensure the nursery is sustainable. Other objectives for 2023 to 2024 and strategies for achieving the objectives are.. To continue to Secure funding from the London Borough of Islington by fulfilling ihe Service Level Agreement. To continue to forge links with the local authority to ensure the nursery is sustainable. To develop increased parent participation al the nursery. To continue to upgrade the nursery facilities and reinvest in the nursery.
ABERDEEN PARK NURSERY TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORT) (Continued) FOR THE YEAR ENDED 31 MARCH 2024 Sirategiesfor Achieving Objectives The strategies employed to achieve the objectives are: Offering opportunities for a broad range of pcoplc lo get involved in the nursery and benefit from its facilities. Celebrating the diversity of cultures in the community. Monitoring the effectiveness of the nursery's serviLes and procedures. Encouraging parent participation. Activiliesfor Achieving Objectives Activities to meet the needs of the children are provided in all areas of learning as sct out in elY years, foundation stage, to pruvide care and education for the children attending the nUery. F,xtcrnal resources are tIVelY provided to broaden the educational programme c.g. music sessions, theatre and museum outings, sports, Parent participation is encouraged and a room for par¢nts and staff is made available to use for that purpose. Upgrading of the nursery included garden renovation and internal building refurbishment, Valtsnleers Parents are askcd to help the nursery by participating in various activities. Achlevepnenls and Performance The nursery has continued to provide a higTrh standard of educational opportunity fur IoLal children and forge 8trong links with the local community through Piirent Pilrticipation. Children have bcen atlcnding for¢st school every other Friday, and on .1 uesdays, children enjoy African drumming sessions. A key perfomiance indicator is thc annual 'Service Level Agreement Monitoring, conducted by Isling>ton Council's Early Years Children's S¢rviLes Departmenl, a nursery funding body. The nursery is considered lo be consislcntly Meeting the majority of targets to a hiLih Icvcl. Aside from retaining a prudent amounl in reserves cach year, most of the charitable company's ndS are to be spent in th¢ short terni so therc arc few funds for long tern) investment. In ihe current difficult clirnatc of trying to recruit staff for childcare, the nursery was ablc to employ 3 new member.s of staff. In tems of staff training, two members of sthff have completed SENCO training and all staff have completed outdoor play training. Emily Pelter, who has been a trustee of the charitable company for 9 years, resigned during the year. Financlal Revlew Total income and endowment for the year has increased by 13.510/0 (2023.. 2.140/0) and total expenditure for the year has decrcased by 0.630/0 (2023.. in¢rease by 3.400/0). At the year end the total unrestricted ndS was £635,246 (2023 £542,165), an increase of £93,081 (2023- £27,501). Reserves Policy The trustees have established the level of reserves (funds that are freely available) that the charitable company should hold. Reserves are needed to bridge the gap between nursery spending and receiving resources through parental fees and grants. Reserves are also held to Cover emergency repairs and expenditure. The nursery's policy is Ihat the reserves held should be between six and nine monihs of the expenditure.
ABERDEEN PARK NURSERY TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORD (Continued) FOR THE YEAR ENDED 31 MARCH 2024 At the year end the total unrestricted funds was £635.246 (2023 - £542,165) of which £67,583 (2023 - £31.449) has been designated leaving a balance of £567.663 (2023 £510.716) which is comfortably in excess of the nursery's policy. Principal Funding Sources Aside from the income generated from fees from parents, the principal funding source for the charitable company is currently by way of grants for the London Borough of Islington and Department for Education. Plansfor Future Periods InstaIlation of a summer house in thc garden Repainting of the exlcrnal of the building Garden rv5toration StatT' undertiiking Level 3 and Level 5 training S¢ruclure. Gnvernance und Mfinaxemenl Governing Document Aberdccn Park Nursery is constituted as a company limilcd by guarantee incorpordted on 22 November 2005 (Registration No.. 05632588). 11 is Lyovcrned by it5 MemordTtdum and Articles ol. Association. It was registered as a charily with the Charity CommissiL)n on 21 September 20116 (Charity No.. 1116 5 60). In the cvent of the charitable cumpany bcing wound up, all mcmbers present are required to conlribulc an amount not exLeedingy £1. Rec'rnitmenl und App()inlmenl of Tru.Ylee,I' Trustees are past and present. parcnt8 of the Nursery. Recruitmenl is done by advcrtising internally for any vacancies, and eleLtion at the Annual Generiil Meeting. DBS chccks are catTicd oul on all trustees. New trustees are adviscd of their legyal obligations under charity and company law. Trustees are encouragcd to attend any relevanl training to enable them to carry out their role. TrusleeJ Induc'¢ic)n and Truininx Tru8tees ¢ire given a copy of the Memorandum and Articles of Association, a copy of Becoming a Management Committee M¢mber/Trustcc and are given relevant training. All trustees must have DBS clearancc. Organisalional,glructure The charitablc company has seven truslees who make all final decisions in regard to Staffing, recruitmcnt, policy making 41nd financc. The managerial Structure of the nursery consisls of a manager, deputy manager, two room leaders, five practitioners, an assistant, an early years teacher and a cook. Remuneration of Key Management Personnel The Trustees set pay and r¢muneration of key management personnel on an annual basis, which are based on salary pay scale nornis in London.
ABERDEEN PARK NURSERY TRUSTEES. ANNUAL REPORT (INCLUDING DIRECTORS, REPORT) (Continued) FOR THE YEAR ENDED 31 MARCH 2024 Risk Managemenl The trnstees are working on a Risk Management strategy, which comprises". An annual review of the risks the charitable company may face; Its systems and procedurcs; and Th¢ impact of future funding and the financial implications on the nursery. Referenee andAdmlnl.Ilrallve Detalls Charity regislralion number.. L'ompany regi8trulion mimber.. 05632588 Regislered undprincipal oJTice.' 143 Highbury New Park Highbury Londun N5 2LJ Direclors and Truslee The Board ot" truste¥& cunstitutes directors of the company for the purpose ot company law and trustees for thc purpose of charity law. The trustees serving during the year and since the year end were as follows: Emily Pelter - Chairperson Ddnielle Houghton - Treasurer Anna Fiona Mcconnell {resigyned 1010512023) Maximillian Seldon Whiteford Chairperson from 1910912023. Shana7. Be&7um Marivi Garcia-Man7.ano Anna Baddeley Leah Kennedy Natalie Justin De Clement Vicentc Enrique Miril Gumucio (resigned 1910912023} (appointed 1010512023) (appointed 1211012022, resigyned 2410512023) (appointed 1210712023) (appointed 1210712023) The trustees are elected at the Annual General Meeling. No trustee received any remuneration for services durin8 th¢ year, nor did they have any beneficial int¢r¢s¢ in any contract with the charity. Company secrelury.. Anna Fiona Mcconnell (resigyned 2810612023) Maximillian Seldon Wl)iteford (appointed 1010512023) ,Senlor slaffmembers.. Maria Garrido (Manager) Sarah Taylor (Deputy Manager) Independenl examiner.. Barcant Beardon Limited Chart¢Ted Accountants 8 Blackstock Mews London N4 2BT Bankers Lloyds Bank plc 19 Highgate Hill Archway London N19 5LS
ABERDEEN PARK NURSERY TRUSTEES. ANNUAL REPORT (INCLUDING DIRECTORS, REPORT) (Continued) FOR THE YEAR ENDED 31 MARCH 2024 Siatemenl of the Truslees, Responslbilliies The trustees (who are also directors of Aberd¢en Park Nursery tor the purposes of company law) are responsible for PTeparinb the Trustees, Annual Report and financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting PTactice). Company law requires the trustees to prepare tinancial statements for each financial year which give a true and fair view of the state of affairs of the charitable LOIIIPiiny ilt the balance sheet dat¢ and of the incoming resources and application of resources. including incomc and expenditure of the charitable company for the financial year. In preparing those financial statements, the trustees are required to.. Select suitable accountinb policies and then apply them consistently. Observe the method8 and principle in the Charities SORP 2019 (FRS 102). Make judgements and estimates that dre reasonable and prudent. State whether applicable UK Accounling Standards have been followed, subject to any matcrial departures disclosed and cxplained in the finanLial statements; and Prepare the financial statements on the gjoing concern basis unless it is inappropriate to presume that the company will continue in business. The trustees are responsible for keeping adequate accounting records which disclose with reasonable aLcuracy at any time Ihe financial position uf the chiiril4ible company and enablc thcm to ensure that the financial statementq comply with the Companies Act 2006. -fhey are also rcspon8ible for safeguarding the assets ol. thc charitable company and hence for takinby reasonable steps for the prevention and detection ot fraud and other irre&yularities. This report has been prepared in accordance with thc special provisions relating to small companics within Part 15 of'ihc Companies Act 211116. On behalf of the board. Maximillian Seldull Whiteford - Cha rpersun Date..
INDEPENDENT EXAMtNER'S REPORT TO THE TRUSTEES OF ABERDEEN PAiiK NURSERY I report lo the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024. which are set out on pages 7 to 17. RespoN.fibiiiile& and basis of rq)orl As the charity trnstees 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 company's accounts as carried out under section 145 of the Chartties Act 2011 ("the 201 l Act"). In carrying my examination I have followed the D1CtionS given by the Charity ComTnission under section 145(5)(b) of the 2011 AL*. Independenl aMiner,.l.f1alenl Since ihe company's gross income exLeeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confinn that l am qualified to undertake the exdmination because l am a mernber of the Institute ot Chartcred Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confim that no matter has come tu my attention in connection with the cxamination giving me Liiuse to believe thilt in any material respect.. accountingy record8 were not kept in respect of the company as required by section 3 86 of the 2006 Act. or the accounts do not accord with those records: or the aLcounls do not comply with the accouniinLi rcquirements of section 396 of the 2006 Acl other than any requirement that thc accounts give a 'truc and fair view, which is not a matter considered as part ol. an independent exdmination,. or the aLLounts have not been prepared in accordance with the methods and principles of the Statement ol. Recommended Practice for accounting and reporting by charities applicable lo charities prepuring their accounts in accordancc with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no Lonrerns and have come acro.ss no other matt¢rs in conncction with thc examination to which attention 8hould be drawn in this report in order lo enable a proper understanding of the accounts tu b¢ reached. Shu Fen Chung FCCA ACA BARCANT BEARDON LIMI'I"ED Chartered Accountants 8 Blackstock Mews Islington London N4 2BT
ABERDEEN PARK NURSERY STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Notes Unrestricted Funds 2024 Total Funds 2024 Total Funds 2023 Income and endowmentsfrom.. Donations and legyacies Charitable activities Investments 14,900 512,375 454 14,900 512,375 454 2,200 462,663 55 Total income and endowments 527,729 527,729 464,918 EYpend1lre on.. Charitable activities 434,648 434,648 437,417 Total expenditure 434.648 434,648 437,417 Nel income/(expendi¢ure) and nel movemenl in Jundsfor iheyear 93,081 93.081 27,501 Reconciliation f)Ifunds 'rotal funds bTought forward 542.165 542,165 514.664 I'otal funds carried forward 635,246 635,246 542,165 The statement of financlal activitics includes all gains and losyes recognised during the year. All incomc and expenditure derive from rontinuing activities.
ABERDEEN PARK NURSERY BALANCE SHEET AS AT 31 MARCH 2024 Notes 2024 2023 FixedAssels 13 680 Currenl assets Debtors Cash at bank and in hand 14 8,818 643,989 2,398 556,264 652,807 (17,561) 558,662 (17,177) Creditors: amounts falling due within one year Nel Currenl assets 635,246 541,485 Net u.s,iets 635,246 542.165 Ckarily fi und.$ ljnrestricted Funds Designated Fund5 General funds 16 16 67.583 567,663 31,449 5111,716 635.246 542.165 For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 Companies Act 20116 relating to sm<ill companies. Directors, responsibilities: The memberb have not required the company to obtain an audit of its account5 for the year in question in accordance with section 476; The directors acknowledgc their responsibilities for complying with the requirem¢nts of the Act with respect to accounting records and the preparation of accounts. Th¢se financial statements are prepared in accordance wtth the special provisions of Part 15 of the Companies A¢t 2006 relaling to small companies. Signed on behalf of the board of trustees Danielle Houghton - 'freasurer Date.. 17Y JVL4 LO Ly The notes on pages 10 to 17 form part of these financial statements. Company Registration No. 05632588
ABERDEEN PARK NURSERY STATEMENT OF CASH FLOWS AS AT 31 MARCH 2024 Not¢s 2024 2023 Cashflowfrom operatip7g aclivilies Net cash provided by operating activities 18.0 87,271 31.440 Cashflow]rcJm invejting activitie.s Interest income 454 55 Nei incretue in cash and cash equivalenls in theyear 87,725 31.495 Cash and cash equivalents ai ihe beginning of iheyear 556,264 524,769 Cash and cash equivalenls ai the end of iheyear 643,989 556,264 Anaty.fis ofch andcash equivalent,Y Cash in bank and tn hand 643,989 556,264 C'a.sh and caxh equIvulent ai ihe end ufthe year 18.1 643,989 556,264
ABERDEEN PARK NURSERY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR F.NDF.D 31 MARCH 2024 J.0 Aceounling Pollcies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: l. l General informalion and b(ls ofpreparation Aberdeen Park Nursery is a Company limited by guarantee in Enbyland and Wales and h¢lS no share capital. In the event of the charity beinbi wound up, the liability in respect of the guaranlee is limited to £1 per member of the charity. 'Ihe regiislered olCe is 143 Highbury New Park, Flighbury, London N5 2LJ. 'Ihe charity constitutes a public benefit entity as defined by FRS 102. The financial Statements have been prepared in accordance with Accounting and RcportingF by Charities- Statement of Recommended Practice applicable lo charities preparing Iheir accounts in accordance with the Financial Reporting Slandard appliLable in the UK and Republic of Ireland issued in October 2019, thc financial Reporting Standard applicable tn the UK and Republic of Ireland (FRS 102), the Charities Act 201 I, the Companies Act 2006 and UK Generally Accepted Practice. The financial statements are prepared on a going concem blS under the historic cost convention. The finanLial statements are prepared in sterling, which is the functional currency ot ihe company. Monelary amounts in these financial statements are rounded to th¢ nearest £. Unrestricled funds arc availablc for usc ai Ihc discretion of the twstees in furtheranL¢ of the Eeneral objective5 uf the Lharity and which have noi been desigynated for other purposcs. Dcsignated fund8 are unrestriLted funds thtit have been set asidc by the trustees for particular purpo8es. Restricted funds arc fund8 which are to be u8cd in accordance wilh specific restrictions imposed by donors or which havc bcen rai%ed by the charity for particular purposcs. 1.3 In¢c)m¢ re¢rJgniliDn All incoming sOur.eS ar¢ included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions havc bccn mct. the amount can b¢ measured reliably and it is probable that the income will be received. For donations to be recogni5ed the charity will have been notified of the amounls and the settlement date in writing. If there are conditions attached to the donation and this requires a level of perforniance beforc entitlement can be obtained then income is deterred until those conditions are fully met or the fulfilment of those condilions is wiihin the control of the charity and it is probable that they will be fulfilled. No amount is included in the financial statements for volunteer time in line with SORP (FRS 102). Furthcr dclail is given in the Trustees, Annual Report. Income trom tradingy activities includes income earned from fundraising cvents and trading activilies to raise funds for the charity. Income is received in exchange for supplying goods and service8 in order to raise funds and is recognised when entitlement has occurr¢d. Income from government and other grants are recognised at fair value when the charily has entitlement after any perfomiance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If ¢nlitlem¢nt is not met then these aTnounts are deferred. 10
ABERDEEN PARK NURSERY NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2024 Interest income is recognised when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. 1.4 Elpenditre re¢ogniliop7 All expendilure is accounied for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recolS¢d where there 15 (I legal or constructive obligation to make payments to third parties. it 18 probable that the settlement will be required and the amount of the oblibyation can be measured reliably. It is categorised under the following headinbFS: Expenditure on charitable activities comprises those ¢(Trsts incurred by the charity in the delivery of its activities and services. It includes both costs thal can be allocated directly to such activitie5 and those osts of an indirect nature necessdry to support them. Other expenditure represents those items not falling into any other headin&. Irrecoverable VA T is charged as an expense against the activity for which expenditure arose. 1.5 Supporl c(A$l.s allocalion Support costs are those functions that assist the work of the charity but do not directly represent charitable activities and include premiscs overheads, offi¢e, finance governance costs. They are incurred direcily in support of expenditure on the objects ot the charity. Whcre support costs cannot be directly attribulcd lu partiLulaT headings they have been allocaled to cost of raising funds and expenditure on charitable activities on a basis cunsistent with use of the resourLes. 1.6 TangiblL.fixed u.y.fets I'angible fixed a.&8ets are Cilpitalised at cost and dcpreciated over their estimated useful cconomic lives on a straight line basis as follows: Fixtures, fittings & equipmenl 4yea 1. 7 Debiors Tradc and other debtors arc recognised at the settlement amount, Prepayments are valued at the amount prepaid. 1.8 C'redili)rs andprovisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of fund5 to a third party and the amount due to sertle Ihe obligation can be measured or estimated reliably. Creditors and provisions are nornially recognised al their settlement amount. 1. 9 Pri)vi.Yions Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past vent, tt is probable that an outflow of economic beneftits will be required in settlement and the amount can be reliably estimaled. I. 10 Pgnsions The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged in the Statement of fr inancial Activities in the year they are payable.
ABERDEEN PARK NURSERY NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2024 2.0 Crilical Accounilng Estlmalu and Judgements In the application of the charity's accounting policies, the trustees are required to make judgements. estimates and assumpttons about the canying amount of assets and liabtlities 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 r¢cognised in the p¢riod in which th¢ ¢stimate 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 p¢riods. 3.0 Incomefrom Donallorts and Legael Unrestricted Unrestricted funds funds 2024 2023 Gifts 14,900 2,200 4.0 Incomefrom Charilable Activille2 Unrestricted lJnrestricted funds 2024 21123 Nursery fees London Borough of l¥lin&yton Department lor Education 396.556 30.487 85,332 331,858 28,660 102,145 512,375 462,663 5.0 Incvmefrom IVen1, Unrestrictcd Unrestricted funds funds 2024 2023 Interest on bank deposit 454 55 12
ABERDEEN PARK NURSERY NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2024 O Anulysls of E¥pendllure on Chorliable ALllvitle& Charitable Activities 2024 Activities undertaken directly Support costs Gov¢rnan¢e costs Total Childcare and education 378.236 52,692 3,720 434,648 6.1 Charitable Activities 2023 Activities undertaken directly Support costs Governance costs 'otal Childrare and education 391,560 42,197 3,660 437,417 6.2 Of the £434,648 expenditure in 2024 (2023 - £437,417), £nil {2023 - £nil) was attributable lo restricted ndS and £434,648 (2023 - £437,417) was attributable to unrestricted funds. 7.0 Analy.sl,f ofsupporl and Governance co.sl Support Governance costs Total 2024 Total 2023 Prem i5es Office running Finance Legal and professional Depreciation Accountancy 41,510 8.076 89 2.337 680 41,510 8,076 89 2,337 680 3,720 33,080 6,713 88 1.636 680 3,6611 3,720 52,692 3,720 56,412 45,857 8.0 Nel Income/fExpendllure)for the Year 2024 2023 This is stated after charging: ALcvuntanLy Independent examiner's remuneration Depreciation 1,860 1,860 680 1,830 1,830 680 9.0 TrteeY Remunerallun and Expen&es The trnstees were not paid any remuneration or received any other benefits during the year (2023 £nil). The trustees were not paid any reimbursement of expenses during the year (2023 - £nil). No trust¢¢ or other person related to the Charity had any personal interest in any contract or transaction entered into by the charitable company during the ycar. which are transacted on non-standard business tern]s (2023 nil). Nursery services are provided to th¢ tNstees or other related party on the same terms as provided to other beneficiaries of thc charitablc company. 13
ABERDEEN PARK NURSERY NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2024 10.0 Slaff Cosls 2024 2023 Wages and salaries Social security Costs Defined contribution pension costs 266.786 17.884 4,909 294,331 23,241 5,517 289,579 47,998 323,089 28,356 Agency staff 337.577 351,445 10. l No employee received remuneration oft. more than £60,000 {2023 - none). 10.2 The total amount of employee benefiLs received by key management personnel is £81,736 (2023 £93,103). The company considers its key management personnel comprise its Manager and Deputy Manager. 10.3 During the ye¢ir the company paid £47,998 (2023 £28.356) to indepcndent third parties for the provision of staff. 11.0 Slaff Numben The average monthly heiid count Wils I I staft. members (2023: 12 staff) and the alieragc monthly number of full-time equivalent employees (including7 casual and part time staff) durinsy the year was as follows.. 2024 Number 2023 Number Childcare and education Staff Administrator 8.55 1.00 10.20 1.00 9.55 11.20 12.0 Toratlon Aberdeen Park Nursery is considered to pass ihc tcsts set out in Paragraph I, Schedule 6 of the Finance Act 2010 and th¢r¢fore it meets the definition of a charilable company for UK corporalion lax purposes. Accordingly. the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3, Part I l of the Corporation Tax Act 2010 or Section 256 of ihe Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 14
ABERDEEN PARK NURSERY NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2024 13.0 FLredAssets Fixtures, Fixtures and Equipment Cost At l April 2023 and 31 Mah 2024 2,720 Depreciation: At l April 2023 Charge for the year 2.040 680 At 31 March 2024 2,720 Net Book Value: At 31 March 2024 At l April 2023 680 I&0 Deblor& 2024 2023 Prepayments and accrued income Other debtors 3,069 5,749 2,398 8,818 2,398 J5.0 Cre(Ilior.i.' Amountsfalllng due wlthln oneye4r 2024 2023 Trade creditors Other tax and social security Other creditors Accruals 2,890 4,844 4,823 5,004 2,859 6,091 3,800 4,427 17,561 17,177 15
ABERDEEN PARK NURSERY NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2024 I(LO Analysls of Charilable Funds Unreslrlcled - Currenl Year Balance Fncoming l April 2023 Resources Outgoing Resources Transfers Balance 31 March 2024 General funds Designated Fund$ Garden restorationldesign Extcrnal entrdnce upgradexternal upgrade Renovation of nursery rooms 510,716 527,729 (434,521) (36.261) 567,663 2,781 (127) 22,346 25.000 1.085 17,583 13,915 25,000 17,583 542,165 527,729 (434,648) 635,246 Unreslrlcled Funds- Prevlous Year Balance Incoming Outgoing l April 2022 Resources Resources Transfers Balance 31 March 2023 General funds Dcsignated Funds Garden restorationldesibyn External entrance upgrade/F.xternal upgrade Renovation of nur¥ery r(ioms 479,365 464,918 (433,567) 510,716 6,631 (3,850) 2,781 11,085 17,583 1,085 17,583 514,664 464,918 (437,417) 542,165 Name of&nreslriciedfund Descriplion, naiure andpurposes of ihefund General funds l)esig>naled funds The "free reserves" after allowing for any designated funds. a) Ciarden rcstoralionldesign - to restore the exisling giarden. b) External upgrade - to upgrade the external areas. c) Renovation of nursery rooms - to improve the facilities of the nursery rooms. 16
ABERDEEN PARK NURSERY NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2024 17.0 AnafyS of Ne¢ Assets belween Funds- Current Year Designated Funds General Funds Total 2024 Tangible fixed assets Cash in bank and in hand Other net cuent assets/(liabilities) 67,583 576,406 (8,743) 643,989 (8.743) 67,583 567,663 635,246 Analysts of Ivel As,iels belween Funds - Prevlous Year De&4ignated Funds Generdl Funds Total 2023 Tangible fixed asscts Cash in bank and in hand Other net current asselsl(liabililies) 680 524,815 (14,779) 680 556.264 (14.779) 31,449 31,449 510,716 542,165 18.0 Reconculallon Ivet jnc(Jm lo Ivel Cash Flow Fmm Operallng Acllvltles 2024 2023 Net inLome for the year Adjustments for.. Interest income D¢preciation charge (Increase)/decrease in debtors Increasel(decrease) in creditors 93,081 27,501 (454) 680 (6,420) 384 (55) 680 2,901 413 87.271 31,440 18. 1 Analysts of Clianges In Net Debl At l April 2023 Cash-flows Ai 31 March 2024 Cash at bank and in hand 556,264 87,725 643,989 19.0 Relaled Party Transaclions Aside from trustee rernuneration and expenses disclosed in note 9. there are no related party transactions during the year (2023 none). 17