BRIGHT SPARKS KINDERGARTEN LTD
(LIMITED BY GUARANTEE)
Company Number 06113421 (England & Wales) Charity Number 1120624
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
BRIGHT SPARKS KINDERGARTEN LTD
Contents of the Financial Statements For the Year Ended 31 August 2023
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|Company|Information|l|
|Trustees|Report|2-4|
|Independent Examiner's|Report|5|
|Statement of Financial|Activities|6|
|Balance Sheet|7|
|Notes|to the|Financial|Statements|8-12|
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BRIGHT SPARKS KINDERGARTEN LTD
Company Information For the Year Ended 31 August 2023
|
Trustees Claire Felipes (resigned 23 April 2024) Sarah Brown Steve Belshaw Becky Portess = (resigned 24 April 2023) Stacey Mustill Danielle Skinner Laura White David Mitchell Rebecca Sharpe (appointed 24 April 2023) Leanne Belton (appointed 23 April 2024) Directors Sarah Brown Becky Portess (resigned 24 April 2023) Stacey Mustill (appointed 24 April 2023) Registered Office: Sibsey Free School Old Main Road Boston Lincolnshire PE22 ORR Company Number 06113421 (England & Wales) Charity Number 1120624 Independent Examiner Mrs Nicola Lenton FOCA Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE21 6NA Bankers HSBC 49 Lumley Road Skegness Lincolnshire PE25 3LW
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BRIGHT SPARKS KINDERGARTEN LTD
Report of the Trustees for the Year Ended 31 August 2023
The Trustees present their Report with the financial statements of the Charitable Company for the Year ended 31 August 2023.
Legal and Administrative Information
Bright Sparks Kindergarten Limited is a charitable Company Limited by Guarantee and does not have any share capital. It was incorporated on 19 February 2007 and was registered as a Charity on 20 August 2007, ItSpecialis governedResolution datedby a Memorandum 9 August 2007.and ArticlesNew Trusteesof Association are approveddated by19theFebruary present members2007 as ofamended[the][trustee] by board. (Further administrative details of the charity can be found on page |).
Purpose
Bright Sparks Kindergarten exists to deliver safe, high quality pre-school childcare and education for children aged 2 years to 4 years and to offer stimulating out of school activities for children aged 3 years to 11 years. We are also committed to developing staff and offering opportunities for trainee staff.
Overview
Finances have continued to struggle this year, but we continue to run the setting without any concerning financial difficulties. Numbers within Pre-school and Out of School clubs were good with 21 children moving on to primary school in July. We have a number of children on the waiting list, however, due to the high amount of children leaving to go to school our projected numbers for September in the preschool are looking to be lower than previous years. The government are introducing funding for 2-yearolds of working parents so we are expecting this to have a positive impact on numbers. The Out of School clubs remain extremely busy.
A decision to close the holiday club has been made due to the lack of interest for this service.
Outside agencies such as Early Years Childcare Support (EYCC) continue to provide invaluable and up to date information and guidance, which the committee and staff appreciate greatly. The committee continue to appreciate and recognise all of the staff for all of their hard work, dedication and commitment, The Manager and Assistant Manager promote positivity within the setting which in turn makes Bright Sparks a great place to learn, and a great place to work.
Fi ial’ Perform
The results for the year and the financial position of Bright Sparks are shown in the financial statements.
The results shown are in line with projected figures.
Managementand Staffing We are really pleased that our management team remains unchanged, and they continue to work extremely well together ensuring that Bright Sparks improves and carries on its success. This is something we are extremely proud of. We have seen some staff changes this year but pride ourselves to have an exceptional team of Early Years staff, who work together with confidence and passion.
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BRIGHT SPARKS KINDERGARTEN LTD
Report of the Trustees for the Year Ended 31 August 2023 continued
Management and Staffing continued
We do continue to find it increasingly difficult to recruit, which is seemingly an issue across the sector as the pay offered doesn’t reflect the vast number of responsibilities which are undertaken by an Early Years practitioner. Bright Sparks continues to work within the EYFS framework. The senior management team continually monitor updated guidance and support staff accordingly to ensure that the quality of care at Bright Sparks is maintained in early year's childcare and education.
We have continued to work with other providers where necessary, mainly when children access more than one setting.
Continual Professional Development of management and staff is seen as a very important area and this is discussed regularly at staff meetings and supervisions which enables us to make sure that Bright Sparks, in our opinion, continues to be one of the top childcare provisions in the local area. The local authority, EYCC and the Local Safeguarding team, LSCP, provide relevant and up to date training for staff to attend which this year have all been virtual via Teams or Zoom but are beginning to offer face to face training too. Bright Sparks have encouraged staff to attend these. We also us¢ training agencies to do whole staff team in-house training for First Aid.
Our staff team are highly qualified and very knowledgeable, and we are extremely proud to have a staff member trained with their Early Years Foundation Degree a BA Hons in Education and an MSc Child and Adolescent Mental Wellbeing, a staff member working towards her BA honours in Childhood and Youth Studies and a staff member working towards her level 3 in Early Years Education.
The voluntary management committee continues to function well in support of the setting. Committee meetings have been held regularly during the last year. The committee have continued to support the management team with the day to day running and staff management. Ongoing action plans support the operational function and identifies any areas for attention.
Staff have always gone above and beyond their contractual duties to undertake events for fundraising and out of hours meetings etc. Fundraising allows staff to purchase equipment and resources to enhance and replenish our setting.
The strength of the committee is its members and their commitment and drive to support Bright Sparks Kindergarten. The committee are extremely proud of the whole staff team. They go above and beyond in ensuring that Bright Sparks continues to go from strength to strength.
Overall Performance
We are extremely proud that Bright Sparks has continued to provide exceptional provision of quality, affordable and accessible childcare. Staff are proud to provide a warm and welcoming, homely environment for all who attend and their families.
The Committee are confident that Bright Sparks will continue to keep moving forward. As a charity, however, we do rely on our parents to keep us going. With their continuing help and support, we will ensure that Bright Sparks achieves this.
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Report of the Trustees for the Year Ended 31 August 2023 continued
BRIGHT SPARKS KINDERGARTEN LTD
The Future
As a committee we are aware that financially the rise in cost of living, along with the increase of living wage (in April) has impacted on the financial status of Bright Sparks. This will be monitored closely and although we saw a rise in the fee structure this year and the introduction of a consumables charge, we will continue to review this, and it will be addressed accordingly. As a childcare setting, Bright Sparks does have an excellent reputation in the area, and we will strive to continue providing our usual exceptional service to all who attend. We really do pride ourselves in offering a vibrant place to work where staffs personal needs are nurtured and professional needs are encouraged, We will continue to deliver outstanding performance ensuring that Bright Sparks as a setting continues to be the areas first choice for high quality childcare and education.
Statementof trustees’ responsibilities The trustees are required under the Charities Act 2011 to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of that year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:
- select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; . state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concer basis unless it is inappropriate to assume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and ensure that the financial statements comply with applicable law and regulations. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. When amounts are presented within items in the profit and loss account and balance sheet, the trustees have had regard to the substance of the reported transaction or arrangement, in accordance with generally accepted accounting principles or practice. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relatingto small companies. This report was approved by the board on 25 April 2024 and signed on its behalf.
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BRIGHT SPARKS KINDERGARTEN LTD
Independent Examiner’s Report to the Trustees
| report on the accounts of the company for the year ended 31 August 2023 set out on pages 6 to 12,
Respective responsibilities of trustees and examiner As the charity’s trustees of the Company (who are also the directors of the Company 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 for this year under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect ofmy 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 following the directions given by the Charities Commission (under section 145(5) (b) of the 2011 Act.
|Independenthave completed examiner'smy examination. statement | confirm that no material matters have come to my attention which. gives me cause to believe that:
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accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
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- the accounts do not accord with such records; or > the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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 Charities SORP (FRS102).
| 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. alee
NICOLA LENTON FCCA Independent Examiner Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston, Lincolnshire PE21 6NA
Date: 25 April 2024
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BRIGHT SPARKS KINDERGARTEN LTD
Statement of Financial Activities Including Income and Expenditure Account For the Year Ended 31 August 2023
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|---|---|---|---|---|
|Total|Funds|Total|Funds|
|2023|2022|
|Notes|£|£|
|1|INCOME|AND|EXPENDITURE|
|INCOMING|RESOURCES|
|Incoming|Resources|from|generated|funds:|
|Activities|for generating|funds|158,982|144,117|
|3|Investment|income|212|6|
|TOTAL INCOMING|RESOURCES|159,194|144,123|
|Resources|Expended:|
|5|Charitable|activities|173,233|144,254|
|6|Governance costs|2,697|2,844|
|TOTAL RESOURCES EXPENDED|175,930|147,098|
|2|NET OUTGOING|RESOURCES FOR THE YEAR|(16,736)|(2,975)|
|TOTAL FUND BROUGHT FORWARD|49,770|§2,745|
|TOTAL FUND CARRIED FORWARD|33,034|49,770|
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All incoming resources and resources expended derive from continuing activities.
The notes on pages 8 to 12 form part of these financial statements
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BRIGHT SPARKS KINDERGARTEN LTD
Balance Sheet as at 31 August 2023
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|---|---|---|---|---|
|2023|2022|
|Notes|£|£|
|7|IntangibleFixed|Assets:assets|-|=|
|8|Tangible|assets|6,902|9.291|
|6,902|9,291|
|Current|Assets:|
|9|Debtors|1,748|500|
|Cash at bank and|in hand|41,200|§7,320|
|42,948|57,820|
|10|Creditors:|amounts|falling duc|
|within one year|16,816|17,341|
|Net Current Assets|26,132|40,479|
|TOTAL ASSETS|LESS CURRENT|
|LIABILITIES|33,034|49,770|
|FUNDSUnrestricted funds|33,034|49,770|
|TOTAL FUNDS|33,034|49,770|
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The charitable company’is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.
The trustees have not required the charitable company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 ofthe Companies Act 2006.
The trustees acknowledge their responsibilities for:
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(a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006; and
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(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 304 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 special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The financial statements were approved by the Board of Trustees on 25 April 2024 and were signed on its behalf
by:
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Sarah Brown
Director and Trustee 5Scs '
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The notes on pages 8 to 12 form part of these financial statements.
BRIGHT SPARKS KINDERGARTEN LIMITED
Notes to the Financial Statements For the Year Ended 31 August 2023
- ACCOUNTING POLICIES TheBasis financial of Preparation statements of of Financialthe charitableStatements 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 2015)’, 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. AllIncomingincomingResourcesresources are included in the SOFA (Statement of Financial Activities) when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. 1. Grants are accounted for when received. “J Investment income is accounted for when receivable. <# Fees are accounted for when received. ResourcesResources expendedExpendedare included in the Statement of Financial Activities: on an accruals basis,: inclusive of any VAT which cannot be recovered. Expenditure is allocated between those specific to the operation of the charity's objectives (charitable experiditure) and the costs for the running of the charity itself as an organisation (management and administration). Goodwill, beingGoodwill the amount paid in connection with the acquisition of the business: in March 2008 and April 2009, is being amortised evenly over their estimated useful lives of five years. TangibleDepreciationFixedis Assetsprovided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings 25% on reducing value Nursery Equipment 33% on reducing value
TaxationThese financial statements are prepared on the basis that the charity= isi exempt under 5.505 ICTA 1988 and that no charge to taxation applies.
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Fund Accounting Funds held by the charity are either: +» Unrestricted general funds — these are funds which can by used in accordance with the charitable objects at the discretion of the trustees.
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« Designatedfunds - these are funds set aside by the trustees out of unrestricted funds for specific future purposes or projects.
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- Restrictedfunds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
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BRIGHT SPARKS KINDERGARTEN LIMITED
Notes to the Financial Statements For the Year Ended 31 August 2023 continued
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|---|---|---|---|---|
|2023|2022|
|£|£|
|2.|NET INCOMING|RESOURCES|
|Net|incoming|resources are stated after charging:|
|Depreciation|- owned|assets|2,389|3,230=|
|- goodwill|-|
|Independent|Examination|2,160|2,040|
|Accountancy|services|537|804|
|Staff|Costs|146,911|118,950|
|—S—|——|
|STAFF COSTS|
|Charitable Activities|146,911|118,950|
|——|—E—|
|WagesStaff costs and Salariesconsist|of:|143,780|1 pees|
|Social|Security Costs|3,131|2,00|
|146,911|118,950|
|——||
|No employee earned £50,000 per annum or more.|
|No.|No.|
|The average weekly number of employees was|———_9|ee9|
|2023|2022|
|£|£|
|Trustees Remuneration|63,366|$2,812|
|Directors Remuneration|44,617|28,873|
|3.|INVESTMENT INCOME|
|Bank interest|212|6|
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BRIGHT SPARKS KINDERGARTEN LTD
Notes to the Financial Statements
For the Year Ended 31 August 2023 continued
4, TAXATION
:
Analysis of the tax charge
No liability to UK corporation tax arose on ordinary activities for the year ended 31 August 2023 nor for the year ended 31 August 2022.
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|5.|CHARITABLE|ACTIVITIES|
|2023|2022|
|£|£|
|Wages|146,911|118,950|
|Pensions|1,695|1,437|
|Lunches|6,264|5,707|
|Rent and|rates|2,753|2,384|
|Insurance|658|591|
|Light and heat|2,682|1,493|
|Telephone|353|702|
|Stationery|947|2,104|
|Repairs and renewals|2,049|1,949|
|Activity|materials|etc.|3,948|2,520|
|Cleaning|952|864|
|Sundry expenses|835|1,150|
|Courses and subscriptions|734|1,108|
|Bank charges|63|65|
|Depreciation:|
|Fixtures and|Fittings|2,114|2,819|
|Nursery Equipment|275|411|
|173,233|144,254|
|6.|GOVERNANCE COSTS|
|Accountancy and professional|fees|2,697|2,844|
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BRIGHT SPARKS KINDERGARTEN LTD
Notes to the Financial Statements For the Year Ended 31 August 2023 continued
| 7. | INTANGIBLE FIXEDASSETS | Goodwill£ | ||
|---|---|---|---|---|
| Cost: At |
September2022and 31 August2023 | |||
| Amortisation: At 1 September 2022and 31 August 2023 |
2,667 | |||
| Net Book Value: At31 August 2023 |
0 | |||
| 0 | ||||
| At31 August 2022 | ||||
| 8. | TANGIBLEFIXEDASSETS : |
Fixturesand Fittings £ |
Nursery Equipment £ |
TOTAL £ |
| Cost: At 1 September 2022and31 August 2023 |
34,522 —— |
4,316 ——_ |
38,838 ——=————= |
|
| Depreciation: At 1 September 2022 Chargeforyear |
26,064 2,114 |
3,483 275 |
af 2,389 |
|
| At31 August2023 | 28,178 | 3,758 | 31,936 | |
| Net BookValue: At31 August2023 |
6,344 | 558 | 6,902 | |
| At31August2022 | 8,458 | 833 | 9,291 |
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BRIGHT SPARKS KINDERGARTEN LTD
Notes to the Financial Statements .or the Year Ended 31 August 2023 continued
| 9. | DEBTORS: * AMOUNTSFALLING WITHINONEYEAR |
inti | 2023 £ |
2022 £ |
|---|---|---|---|---|
| Tradedebtors | 1,748 | 500 | ||
| ——_—__— | —_ | |||
| 10. | CREDITORS: AMOUNTS FALLING DUE | |||
| WITHINONEYEAR | ||||
| Tradecreditors PAYE Accrualsanddeferred income |
14,397 i 2,419 |
13,954 450 2937 |
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| 16,816 | 17,341 |
11. SHARE CAPITAL
The company is incorporated under the Companies Act as a Guarantee company. No share capital has been issued. In the event of the company’s winding up each member may be required to contributei an amount not exceeding g £1 as a contribution towards the debts and liabilities of the company.
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