REGISTERED COMPANY NUMBER: 06065754 (England and Wales) REGISTERED CHARITY NUMBER: 1118357
Report of the Trustees and - Unaudited Financial Statements For The Year Ended 31 August 2023 for Margaret McMillan Limited
Bromhead Harscombe House 1 Darklake View Plymouth Devon PL6 7TL
Margaret McMillan Limited
:
Contents of the Financial Statements For The Year Ended 31 August 2023
| Page | ||||||
|---|---|---|---|---|---|---|
| Report ofthe Trustees | 1 | to | 4 | |||
| Independent Examiner's Report | 5 | |||||
| Statement of Financial Activities | 6 | |||||
| BalanceSheet | Me | 7 | ||||
| Cash FlowStatement | 2% | 8 | ||||
| Notes to the Cash Flow Statement | - | Kon 2 | ||||
| Notestothe Financial Statements | 8 | 10 | to“15 | |||
| ) | ||||||
| Detailed Statement of Financial Activities | + | ea | 16 | to | 17 |
Margaret McMillan Limited (Registered number: 06065754)
Report of the Trustees For The Year Ended 31 August 2023
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 2023. 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 objects of the charity are the provision of Nursery education for children under the age of five years whose parent or parents or guardian or guardians are resident in or whose place of work is in the bounds of the city of Plymouth together with the provision of recreational facilities for such children together with any other charitable purposes which the Executive Committee deems to be for the benefit of such children. The charity aims to make a difference to the lives of the children within the care of its staff by providing a stimulating, orderly and homely environment where they may learn to explore and experience the world around them. The charity aims to ensure balance is created between the provision of quiet wonder and stimulating activity. The charity plans to continue achieving its objectives by ensuring staff have a variety of experience and qualifications to help encourage children to progress and learn. ’ s, Our main objectives during the year were to continue to provide high quality education and facilities for the children in our care. : . The Trustees have referred to the guidance contained in the Charity Commission general guidance on public benefit. Public benefit ee The charity provides nursery care for children whose parents live or work in the City of Plymouth. The availability of this facility within the City Centre enables parents to return to work in the knowledge that their children are being cared for in a secure, caring and stimulating environment, designed to encourage young children from birth to five years to grow in confidence and independence and develop their creativity and individual. personalities. The nursery delivers early education benefits for children through high quality provision and early intervention (where required) that provides a strong start to their statutory schooling and improving their success for the future. The trustees have complied with the duty in section 17(8) of the 201 1 Charities Act to have due regard to guidance issued by the Charity Commission. ‘ ACHIEVEMENT AND PERFORMANCE — , Charitable activities The continued commitment and hard work of the staff and trustees has enabled the charity to continue to build sufficient reserves to assist in maintaining the financial security of the nursery. The purchasing of the freehold of 24 Hoe Street continues to be a long term aim of the trustees along with the purchase of the land opposite the nursery, currently rented and used for parking spaces. The Trust's financial position at the end of the year is considered to be satisfactory. The success of the nursery continues to be monitored by reference to Ofsted inspections and ratings. This has been maintained at a good level. In addition the financial performance of the nursery is monitored and discussed at each trustee meeting with satisfactory results for the year. The nursery provides a bursary, which supports another Plymouth Nursery, which is a not-for-profit social enterprise in addition to any families in need within our own setting. This helps to promote the education and well-being of pre-school children who can benefit from additional support.
The nursery continues to enjoy positive feedback from parents.
Internal and external factors
A negative factor that has impacted on the nursery provision has been the recruitment and retention of staff. Alongside finding new staff with relevant qualifications and experience, which has been challenging.
The unexpected and significant increase in minimum wage has had an impact on the nursery's budget and this coupled with the cost-of-living crisis, rising energy prices and food costs, has made a noticeable financial impact.
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Margaret McMillan Limited (Registered number: 06065754)
Report of the Trustees For The Year Ended 31 August 2023
FINANCIAL REVIEW
Financial position
The net operating income for the year amounted to £30,527 (2022: net operating deficit £43,235).
The unrestricted fund held at the year ended 31 August 2023 was £472,413 (2022: £441,886).
Expenditure for the year has been made to support the charity's objectives of providing quality nursery education and childcare,
Principal funding sources
The charity's income is primarily received from parents for the provision of nursery places. The charity also receives grant income from the local authority.
Investment Policy
;
The management committee has considered the most appropriate policy for investing funds and has found that investing surplus funds in a deposit account meets their requirements. The management committee consider the return that they receive on their investments to be satisfactory. : The charity also holds £4,000 (2022: £4,000) invested in National Savings Certificates. Total investment income from all sources was £3,074 for the year (2022: £140). ~ 3 Reserves policy - - The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves’) held by the charity should be three months of the resources expended. At this level, the management committee feel that they would be able to continue the current activities of the charity in the event of a significant drop in income. It would obviously be necessary to consider how the income would be replaced or activities changed. * - The charity prepares budgets each year which are regularly reviewed by the trustees in light of actual performance, Variances from budget are reported to the trustees for consideration. All capital expenditure outside of the normal budget is approved bya trustee before being incurred. ‘ e FUTURE PLANS - amy The Charity will continue to maintain the good reputation that it has within the City of Plymouth and to continue to provide first class nursery care for children of preschoolagée. . — . The charity currently occupies the property known as 24 Hoe Street under a 99 year lease expiring on 29 April 2101. The long term aim of the charity is to acquire the freehold of the property in order to improve its security of tenure. The nursery plans to undertake further internal refurbishment of the current building and is investigating potential options to extend the current building in order to be able to expand the provision on offer. Possible extension of the 2 year old room and garden area. The nursery is considering extending the premises to meet to increase capacity. - ;
The charity continues to maintain its good relationship with the landlord.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The Charity is constituted under a trust deed dated 23 October 1995. The charitable company is governed by its Memorandum and Articles of Association from its incorporation on 24 January 2007, and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
The members carry out the election of the officers and committee members at the Annual General Meeting. Nominations are made in writing and delivered to the Chairperson. Each nomination must be proposed and seconded by a voting member of the Charity and accompanied by the written consent of the nominee. New trustees are inducted into the workings of the charity during meetings held on a quarterly basis.
Organisational structure
Full responsibility for the running of the Charity is vested in the Trustees, who by reason of incorporation of the Charity are also Directors of the company. The company is limited by guarantee and does not hold any share capital. The Memorandum of Association precludes the Trustees/ Directors receiving any remuneration or benefits.
Mrs Toni Hambly is responsible for the day to day running of[the][charity.]
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Margaret McMillan Limited (Registered number: 06065754)
Report of the Trustees For The Year Ended 31 Auqust 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Key management remuneration
The Trustees meet annually to discuss and set the levels of remuneration for key members of staff.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 06065754 (England and Wales)
Registered Charity number 1118357
Registered office Harscombe House 1 Darklake View Plymouth Devon PL67TL
PL67TL a Trustees ; af 8 J Achilles Chairman - JP CookStrangTreasurer . ; A Henry W Wood : d J Prichard ay JS Osmond Treasurer (resigned 4.10.22) AC ReesL Layland, MBE (appointed 29.3.23) : . f& ; G Stelmaszozyk (appointed 6.12.22) Company Secretary A Rees ; Independent Examiner , . James Groves , a Bromhead : Harscombe House Plymouth1 Darklake View : ; . ; Devon PL6 7TL Solicitors “ Wolferstans t 4 Deptford Chambers 60/66 North Hill Plymouth PL4 8EP Bankers Natwest Ple 14 Old Town Street Plymouth PL1 1DG TRADING NAME The charity operates under the name Margaret McMillan Nursery.
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Margaret McMillan Limited (Registered number: 06065754)
Report of the Trustees For The Year Ended 31 August 2023
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 Alny st Mee 29 2Mand signed on its behalf by:
J Achi rustee
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Independent Examiner's Report to the Trustees of Margaret McMillan Limited (Registered number: 06065754)
Independent examiner's report to the trustees of Margaret McMillan Limited (‘the Company’) | report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2023.
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, | 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 | have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Indenendent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. | can confirm that | am qualified to undertake the examination because | am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
| have completed my examination. | 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 oe 3, 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 —_
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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)). 7
| 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 thé accounts to be reached.
James Groves . The Institute of Chartered Accountants in England and Wales Bromhead Harscombe House . 1 Darklake View : Plymouth : Devon PL6 7TL
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Margaret McMillan Limited
----- Start of picture text -----
Statement of Financial Activities
Incorporating an Income and Expenditure Account
For The Year Ended 31 August 2023
31.8.23 31.8.22
Unrestricted Total
funds funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Charitable activities 3
Nursery provision 705,714 612,307
Investment income 2 3,074 140
Total 708,788 612,447
EXPENDITURE ON
CharitableNursery provisionactivities 4 -F 678,261 655,682
NET INCOME/(EXPENDITURE) . a 30,527 (43,235)
RECONCILIATION OF FUNDS :
Total funds brought forward
oe 441,886 485,121
TOTAL FUNDS CARRIED FORWARD ne. 472,413 441,886
----- End of picture text -----
The notes form part of these financial statements
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°
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Margaret McMillan Limited (Registered number: 06065754
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|Balance|Sheet|
|31|August 2023|
|31.8.23|31.8,22|
|Unrestricted|Total|
|funds|funds|
|FIXED ASSETS|Notes|£|£|
|Tangible|assets|10|53,765|63,739|
|Investments|11|4,000|4,000|
|57,765|67,739|
|CURRENT ASSETS|
|Debtors|12|5,330|157|
|Cash|at bank|465,280|420,667|
|470,610|420,824|
|CREDITORS|:|
|Amounts|falling|due within|one|year|13|(55,962)|(46,677)|
|NET|CURRENT|ASSETS|||*.|414,648|374,147|
|TOTAL ASSETS|LESS|CURRENT|LIABILITIES|,|472,413|441,886|
|NET ASSETS|472,413|441,886|
|FUNDS|15|oo|
|Unrestricted|funds|a|472,413|441 886|
|TOTAL FUNDS|:|7|472,413|441,886|
----- End of picture text -----
The charitable company is entitled to exemption from audit under Séction 477 of the Companies Act 2006 for the year ended 31 August 2023. _ The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.
Thea financial, statements were approved by the Board of Trustees and authorised for issue on mISZ.. Mase... 2o2-and were signed on its behalf by:
JAchilles- Trustee
The notes form part of these financial statements
Page 7
Margaret McMillan Limited
Cash Flow Statement For The Year Ended 31 August 2023
| 31.8.23 | 31.8.22 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Cash flows from operating activities | |||
| Cash generated from operations 1 |
41,539 | 18,098 | |
| Net cash provided by operating activities | 41,539 | 18,098 | |
| Cash flows from investing activities | |||
| Purchase oftangible fixed assets _ |
- | (38,960) | |
| Interest received | 3,074 | 140 | |
| Net cash provided by/(used in) investing activities | 3,074 | (38,820) | |
| , | |||
| Change in cash and cash equivalents in | |||
| the reporting period | 44,613 | (20,722) | |
| Cash and cash equivalents atthe | : | ||
| beginning ofthe reporting period | 420,667 | 441,389 | |
| Cash and cash equivalents atthe end of | , | : | |
| thereportingperiod | 465,280 | 420,667 |
The notes form part of these financial statements
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Margaret McMillan Limited
Notes to the Cash Flow Statement For The Year Ended 31 August 2023
4 RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| ACTIVITIES | |||||
|---|---|---|---|---|---|
| 31.8.23 | 31.8.22 | ||||
| £ | £ | ||||
| Net Income/(expenditure) forthe reporting period (as perthe | |||||
| Statement ofFinancial Activities) | , | 30,527 | (43,235) | ||
| Adjustments for: | |||||
| Depreciation charges | 9,975 | 17,860 | |||
| Interest received | (3,074) | (140) | |||
| (Increase)/decrease in debtors | (5,173) | 2,690 | |||
| Increase in creditors | 9,284 | 40,923 | |||
| Net cash provided byoperations | 41,539 | 18,098 | |||
| 2. | ANALYSIS OFCHANGES IN NET FUNDS | ||||
| At1.9.22 | Cashflow —At3.8.23 | ||||
| Net cash | : | € | £ | £ | |
| Cash atbank | 420,667 | 44,613 | 465,280 | ||
| 420,667 | 44,613 | 465,280 | |||
| Total | 420,667 | 44,613 | 485,280 |
The notes form part of these financial statements
Page 9
Margaret McMillan Limited
Notes to the Financial Statements For The Year Ended 31 August 2023
- 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’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
The financial statements are prepared on the going concern basis.
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. Grant funding is received in advance and is recognised over the period of delivery of the service. Parents are invoiced monthly in advance and this income is recognised.over the period of the delivery of the service. ee Donations are recognised when these can be reliably measured which is taken as at receipt. 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 thehas amountbeen classifiedof the obligationunder headingscan be measuredthat aggregatereliably.all Expenditurecost relatedisto accountedthe category.for onWherean accrualscosts cannotbasis andbe directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. - Charitable activities : - Charitable activities expenses comprise those costs incurred by the charity for the provision of the nursery. It includes both costs that can be directly attributed to this activity and those of an indirect nature necessary to support it. : ‘ )
Support costs
Support costs are those not directly related to the delivery; .of nursery activities. )
Governance costs
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include independent examination fees and costs linked the strategic management of the charity.
Allocation and apportionment of costs All direct costs incurred are considered to be in the furtherance of it's charitable objective to provide nursery education.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over: its estimated useful life.
Improvements to property - 10% on cost Fixtures and fittings - 10% on cost
Itis the charity's policy to capitalise as fixed assets material fixtures and fittings.
All other expenditure is included within the Statement of Financial Activities.
Taxation
The 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.
All funds received are unrestricted.
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Margaret McMillan Limited
Notes to the Financial Statements - continued For The Year Ended 31 August 2023
- ACCOUNTING POLICIES - continued
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.
Fixed asset investments
Fixed asset investments are stated at market valuation and any movement in the valuation is allocated to the Statement of Financial Activities.
Financial instruments
| Financial instruments | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| The trust only has financial Basic financial instruments settlement value. |
assets and financial liabilities of a kind that are initially recognised at transaction value “a |
qualify as basic financial instruments. and subsequently measured at their |
|||||||
| 2. | INVESTMENTINCOME | = | » | ||||||
| 31.8.23 | 31.8.22 | ||||||||
| ‘ £ |
£ | ||||||||
| Deposit account interest | ' | 3,074 | 140 | ||||||
| 3. | INCOME FROM CHARITABLE ACTIVITIES | 14 | |||||||
| , | 31.8.23 | 31.8.22 | |||||||
| Fees Grants Milk rebates |
Activity Nurseryprovision Nursery provision Nursery provision |
Te of - |
; | £ §23,728 180,316 1,312 |
£ 445,097 166,037 1,173 |
||||
| Miscellaneous income | Nursery provision | 358 | - | ||||||
| : | 705,714 | 612,307 | |||||||
| 4. | CHARITABLE ACTIVITIES COSTS | : | |||||||
| “" | Support | ||||||||
| : | Direct Costs £ |
costs (see note 5) £ |
Totals £ |
||||||
| Nursery provision | 661,290 16,971 |
678,261 | |||||||
| 5. | SUPPORTCOSTS | ||||||||
| Governance | |||||||||
| Depreciation | Finance costs |
Totals | |||||||
| £ | £ | E | £ | ||||||
| Nurseryprovision | 9,975 | 792 | 6,204 | 16,971 |
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Margaret McMillan Limited
Notes to the Financial Statements - continued For The Year Ended 31 August 2023
5. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|31.8.23|31.8.22|
|Nursery|Total|
|provision|activities|
|£|£|
|Depreciation|of tangible|and|heritage|assets|9,975|17,860|
|Bank|charges|792|797|
|Independent examiners|fee|1,860|1,670|
|Accountancy|fees|4,344|4,182|
|16,971|24,509|
|NET|INCOME/(EXPENDITURE)|
|Net|income/(expenditure)|is|stated|after|charging/(crediting):|
|_|31.8.23|31.8.22|
|Pe|£|£|
|Independent examiners|fee|1,860|1,670|
|Depreciation|- owned|assets|9,974|17,860|
|Other|operating|leases|4,506|4,788|
|,|,|
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- NET INCOME/(EXPENDITURE)
Ts TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022. oo Trustees’ expenses - ; There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022. : . . 8. STAFF COSTS
Staff Costs
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||||||
|---|---|---|---|---|
|2023|2022|
|£|£|
|Gross|staff salaries|497,172|470,819|
|Employers|national|insurance|32,688|27,332|
|Pension|contributions|9,225|8,684|
|Agency|staff|6,107|9,253|
|545,192|516,088|
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||||||||||
|---|---|---|---|---|---|---|---|---|
|The|average|monthly|number of employees|during|the|year was|as|follows:|
|2023|2022|
|Nursery|staff|25|27|
|No|employees|received|emoluments|in|excess|of £60,000.|
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Margaret McMillan Limited
;
| Notes to the Financial Statements | Notes to the Financial Statements | Notes to the Financial Statements | -continued | -continued | |||||
|---|---|---|---|---|---|---|---|---|---|
| ForThe Year Ended 31 Auqust 2023 | ? | ||||||||
| 9. | COMPARATIVES FOR THE | STATEMENT OF FINANCIALACTIVITIES | |||||||
| Unrestricted | |||||||||
| funds | |||||||||
| £ | |||||||||
| INCOME AND ENDOWMENTS | FROM | ||||||||
| Charitable activities | |||||||||
| Nursery provision | 612,307 | ||||||||
| Investment income | 140 | ||||||||
| Total | 612,447 | ||||||||
| EXPENDITURE ON | |||||||||
| Charitable activities | |||||||||
| Nursery provision | 655,682 | ||||||||
| NET INCOME/(EXPENDITURE) | (43,235) | ||||||||
| RECONCILIATION OFFUNDS Total funds brought forward |
7 | a | 485,121 | ||||||
| TOTAL FUNDS CARRIED FORWARD | Tay | <5 | 441,886 | ||||||
| 10. | TANGIBLE FIXED ASSETS | . | |||||||
| ; | Improvements | Fixtures | |||||||
| - | to | and | |||||||
| property | fittings | Totals | |||||||
| £ | £ | E | |||||||
| COST | ; | ||||||||
| At 1 September2022 and 31 | August 2023 | 108,647 | 89,905 | 198,552 | |||||
| DEPRECIATION | |||||||||
| At1September2022 | 103,211 | 31,602 | 134,813 | ||||||
| Charge foryear | 984 | 8,990 | 9,974 | ||||||
| At 31 August 2023 | ; | 104,195 | 40,592 | 144,787 | |||||
| NET BOOK VALUE | . | - | |||||||
| At 31 August 2023 | 4,452 | 49,313 | 53,765 | ||||||
| At31 August 2022 | 5,436 | 58,303 | 63,739 | ||||||
| ) | |||||||||
| 11, | FIXED ASSET INVESTMENTS | ||||||||
| Unlisted | |||||||||
| investments | |||||||||
| £ | |||||||||
| MARKETVALUE | |||||||||
| At 1 September 2022 and 31 | August2023 | 4,000 | |||||||
| NET BOOKVALUE | |||||||||
| At 31 August 2023 | 4,000 | ||||||||
| At31August2022 | 4,000 |
There were no investment assets outside the UK.
The historic cost of the fixed asset investments at 31 August 2022 is £4,000 (2021: 4,000). The investments are held for the purpose of providing a return on funds to the charity.
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Margaret McMillan Limited
Notes to the Financial Statements - continued For The Year Ended 31 August 2023
| 12. | DEBTORS: AMOUNTS FALLING DUE | WITHIN | WITHIN | ONEYEAR | ONEYEAR | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31.8.23 | 31.8.22 | ||||||||
| £ | £ | ||||||||
| Trade debtors Prepayments |
2,811 2,519 |
157 - |
|||||||
| 5,330 | 157 | ||||||||
| 13. | CREDITORS: AMOUNTS FALLING DUE | WITHIN ONEYEAR | |||||||
| 31.8.23 | 31.8.22 | ||||||||
| £ | £ | ||||||||
| Trade creditors | 9,126 | 10,045 | |||||||
| Other creditors | 1,293 | 1,672 | |||||||
| Accruals and deferred income | 30,488 | 5,460 | |||||||
| Accrued expenses | 15,055 | 29,500 | |||||||
| : | 55,962 | 46,677 | |||||||
| . | |||||||||
| 14. | LEASINGAGREEMENTS | ||||||||
| Minimum leasepaymentsundernon-cancellable | operating | leases | falldueas | follows: | |||||
| eo | 31.8.23 | 31.8.22 | |||||||
| . | £ | £ | |||||||
| Within one year | es | - | 606 | ||||||
| 15. | MOVEMENT IN FUNDS | ‘ | |||||||
| Net | |||||||||
| movement | At | ||||||||
| ; | ; | At | 1.9.22 | in funds | 31.8.23 | ||||
| £ | £ | £ | |||||||
| Unrestricted funds | a : |
||||||||
| General fund | : | 441,886 | 30,527 | 472,413 | |||||
| TOTALFUNDS | - | 441,886 | 30,527 | 472,413 | |||||
| Net movement in funds, included in the above.are as follows: | |||||||||
| Incoming | Resources | Movement | |||||||
| resources | expended | in funds | |||||||
| £ | E | £ | |||||||
| Unrestricted funds | |||||||||
| General fund | 708,788 | (678,261) | 30,527 | ||||||
| TOTAL FUNDS | 708,788 | (678,261) | 30,527 | ||||||
| Comparatives for movement in funds | |||||||||
| Net | |||||||||
| movement | At | ||||||||
| At | 1.9.21 | in funds | 31.8.22 | ||||||
| £ | £ | £ | |||||||
| Unrestricted funds | |||||||||
| General fund | 485,121 | (43,235) | 441,886 | ||||||
| TOTALFUNDS | 485,121 | (43,235) | 441,886 |
continued...
Page 14
Marqaret McMillan Limited
Notes to the Financial Statements - continued For The Year Ended 31 August 2023
- MOVEMENT IN FUNDS- continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | ||||
|---|---|---|---|---|---|---|
| resources | expended | in funds | ||||
| £ | £ | z | ||||
| Unrestricted funds | ||||||
| General fund | 612,447 | (655,682) | (43,235) | |||
| TOTALFUNDS | 612,447 | (655,682) | (43,235) | |||
| A currentyear 12 manths and prior year 12 months | combined | position is as follows: | ||||
| i | Net | |||||
| . | movement | At | ||||
| At 1.9.21 | in funds | 31.8.23 | ||||
| £ | e | £ | ||||
| Unrestricted funds | : | |||||
| General fund | _ 485,121 | (12,708) | 472,413 | |||
| TOTALFUNDS | i” | 485,121 | (12,708) | 472,413 | ||
| Acurrentyear 12months and prioryear12 months as follows: |
combined | netmovement | movement in , |
funds, included in theabove are | ||
| _* | Incoming | Resources | ||||
| ' | resources | expended | in funds | |||
| £ | £ | £ | ||||
| Unrestricted funds | , | |||||
| General fund | ; | ‘ | 1,321,235 | (1,333,943) | (12,708) | |
| TOTALFUNDS | 1,321,235 | (1,333,943) | (12,708) |
- RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2023, (2022: none)
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