REGISTERED COMPANY NUMBER: 06051327 (England and Wales) REGISTERED CHARITY NUMBER: 1120856
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2023
for
LITTLE WONDERS NURSERY AND EDUCATIONAL SERVICES LTD
SKM Chartered Accountants Pegasus House 5 Winckley Court Mount Street Preston Lancashire PR1 8BU
LITTLE WONDERS NURSERY AND EDUCATIONAL SERVICES LTD
Contents of the Financial Statements FOR THE YEAR ENDED 31 AUGUST 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 15 |
| Detailed Statement of Financial Activities | 16 |
LITTLE WONDERS NURSERY AND EDUCATIONAL SERVICES LTD
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 aim is to provide community services for young children as a not-for-profit charitable organisation. The focus of the charity's activity is in the form of a pre-school nursery. The nursery, Little Wonders Nursery, provides a high standard of education in accordance with Ofsted requirements.
Significant activities
The aim of the charity is to enhance the development and education of children of statutory pre-school age (3-5) Sessional Day Care and by:
Providing high quality care and education for children primarily below statutory school age;
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Working in partnership with parents to help children to learn and develop;
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Adding to the life and wellbeing of its local community;
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Offering children and their parents a service which promotes equality and values diversity;
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Offering appropriate play facilities ensuring that such sessions offer opportunities for all children, regardless of
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race, culture, religion or means.
For the furtherance of this aim, the charity may:
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(a) Provide accommodation and equipment and engage staff;
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(b) Raise money to pay for the activities;
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(c) Make such payments as shall be necessary;
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(d) Fix and collect the fees payable in respect of children attending sessions run by the charity;
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(e) Control the admission of children to the sessions run by the provision and, if appropriate, require parents or guardians to withdraw them;
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(f) Take such other action as may benefit the provision;
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(g) Consult with parents regularly to assess the best interests of their children.
Volunteers
Many volunteers give up their time to help out the charity in improving the nursery in all areas. The charity is greatly indebted to these volunteers for their commitment and support. This year volunteers have helped with refurbishment work and work with identifying and providing resources.
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LITTLE WONDERS NURSERY AND EDUCATIONAL SERVICES LTD
Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2023
ACHIEVEMENT AND PERFORMANCE
Charitable activities
HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT
The charity carries out activities in pursuit of its aims and objectives. These benefit the users of the nursery and the wider community of Fishwick. This year the nursery has schooled around 80 children during the year.
Educational Activities
We have provided a pre-school nursery education of a high quality standard this year. This provision is registered with and inspected by Ofsted. The nursery provision has allowed the children within the community to develop their skills in numeracy, literacy, social awareness, and physical activities with the advantage of achieving this very close to home.
The services are open to children from all communities and backgrounds. Our equal opportunities policy and diversity helps ensure fulfilment of this aim. We are presently trying to further this aim within the bridging communities' incentive.
Our building and resources has allowed the children to have access to opportunities in indoor and outdoor activities.
Consultancy Service
We also have delegations from around the country seeking help and assistance. Our setting acts as an ideal location to present a product of high quality. Thus guiding and advising others to provide a similar service in their communities serving the public. This incentive has already assisted a new set-up in a nearby community and presently aiding another in the Preston Area. The new nursery was opened to the public in January 2011.
Staff Team
Our staff team has developed numerous skills in childcare services since their employment at the setting. Training is regularly available in partnership with the local council. The team includes staff that have previously been unemployed for long periods. They also include persons mainly from the local community. This year we have developed and employed 16 staff members.
Parent Partnership
The parents are afforded opportunities to take part in their child's development via trips, parents day and informal discussions. Ofsted visits are announced to them and inspection reports are handed out to all. They have access to literature and leaflets, which allow them to access opportunities to develop their own skill in numeracy, literacy, IT etc at children centres around Preston. This year we have helped two parents into childcare education and gainful employment.
FINANCIAL REVIEW
Principal funding sources
Little Wonders Nursery is pleased and fortunate to receive funding from a number of organisations and individual sources. During the current year they received funding from the following:
Lancashire County Council
The remainder of the funding relates to nursery fees whether direct from the parents or parents assisted government funding.
Reserves policy
The General fund represents funds arising from past operating results. The trustees are satisfied that the balance of the fund will enable the charity to meet its objectives. The trustees have also examined the requirement to maintain reserves for the on going work of the charity and concluded that the most appropriate level is between 3 to 6 months of operational expenditure.
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LITTLE WONDERS NURSERY AND EDUCATIONAL SERVICES LTD
Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2023
FUTURE PLANS
We intend to maintain our current facilities, as they have been successful in the local community.
We also intend to develop similar facilities in neighbouring areas to help facilitate a successful nursery provision. Our experience and expertise will help develop other teams of competent volunteers who will serve the public in a similar manner.
Plans for the future may involve the purchase of an independent site for the nursery and/or primary school provision.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
The charity is managed by the trustees. The details of the current trustees are below:
N Toorawa (Chairman) S Umar (General Secretary) R Atcha (Treasurer)
The appointment of trustees is governed by the trust deed.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
06051327 (England and Wales)
Registered Charity number
1120856
Registered office
50-54 Fishwick Parade Preston Lancashire PR1 4XQ
Trustees
R Atcha Minister of Religion (Priest/Imam) N Toorawa Minister of Religion (Priest/Imam) S Y Umar
Company Secretary
N Toorawa
Independent Examiner
SKM Chartered Accountants Pegasus House 5 Winckley Court Mount Street Preston Lancashire PR1 8BU
Approved by order of the board of trustees on 16 March 2024 and signed on its behalf by:
Page 3
LITTLE WONDERS NURSERY AND EDUCATIONAL SERVICES LTD
Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2023
S Y Umar - Trustee
Page 4
Independent Examiner's Report to the Trustees of Little Wonders Nursery and Educational Services Ltd
Independent examiner's report to the trustees of Little Wonders Nursery and Educational Services Ltd ('the Company')
I 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, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Shamim Mahomed
SKM Chartered Accountants Pegasus House 5 Winckley Court Mount Street Preston Lancashire PR1 8BU
16 March 2024
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LITTLE WONDERS NURSERY AND EDUCATIONAL SERVICES LTD
Statement of Financial Activities FOR THE YEAR ENDED 31 AUGUST 2023
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 - Other trading activities 3 134,241 Other income 78 Total 134,319 EXPENDITURE ON Charitable activities 4 Support Costs 13,114 Provision of Services 75,728 Management & Administration 6,355 Total 95,197 NET INCOME 39,122 RECONCILIATION OF FUNDS Total funds brought forward 470,226 TOTAL FUNDS CARRIED FORWARD 509,348 |
Restricted fund £ - - - - - - - - - - - |
2023 Total funds £ - 134,241 78 134,319 13,114 75,728 6,355 95,197 39,122 470,226 509,348 |
2022 Total funds £ 2 120,703 - |
|---|---|---|---|
| 120,705 | |||
| 12,411 65,147 4,856 |
|||
| 82,414 | |||
| 38,291 431,935 |
|||
| 470,226 |
The notes form part of these financial statements
Page 6
LITTLE WONDERS NURSERY AND EDUCATIONAL SERVICES LTD
Balance Sheet 31 AUGUST 2023
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 11 73,250 CURRENT ASSETS Debtors 12 169,844 Cash at bank and in hand 277,347 447,191 CREDITORS Amounts falling due within one year 13 (11,093) NET CURRENT ASSETS 436,098 TOTAL ASSETS LESS CURRENT LIABILITIES 509,348 NET ASSETS 509,348 FUNDS 14 Unrestricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - - |
2023 Total funds £ 73,250 169,844 277,347 447,191 (11,093) 436,098 509,348 509,348 509,348 509,348 |
2022 Total funds £ 70,318 170,555 234,031 404,586 (4,678) 399,908 470,226 470,226 470,226 470,226 |
|---|---|---|---|
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 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
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(a) ensuring that the charitable company keeps accounting records that 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 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.
The notes form part of these financial statements
continued...
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LITTLE WONDERS NURSERY AND EDUCATIONAL SERVICES LTD
Balance Sheet - continued 31 AUGUST 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 16 March 2024 and were signed on its behalf by:
S Y Umar - Trustee
The notes form part of these financial statements
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LITTLE WONDERS NURSERY AND EDUCATIONAL SERVICES LTD
Notes to the Financial Statements FOR THE YEAR ENDED 31 AUGUST 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Administrative expenditure
Administrative expenditure comprises all costs incurred in running the charity, which can not be directly allocated, to the charity's projects or to fund-raising.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
General Funds
General Funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated Funds
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds, which are used in accordance with specific restrictions imposed by donors, or which have been raised by the charity for particular purposes. The cost of raising and administrating such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to financial statements.
Endowment Funds
Endowment Funds represent those assets, which must be held permanently by the charity, principally investments. Income arising from endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against part of the fund.
continued...
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LITTLE WONDERS NURSERY AND EDUCATIONAL SERVICES LTD
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Donations | - | 2 |
| OTHER TRADING ACTIVITIES | ||
| 2023 | 2022 | |
| £ | £ | |
| Student Fees | 134,241 | 120,703 |
3. OTHER TRADING ACTIVITIES
4. CHARITABLE ACTIVITIES COSTS
| CHARITABLE ACTIVITIES COSTS | |
|---|---|
| Direct Support Costs (see costs (see note 5) note 6) £ £ Support Costs 13,114 - Provision of Services 75,668 60 Management & Administration 3,803 2,552 92,585 2,612 |
Totals £ 13,114 75,728 6,355 |
| 95,197 |
5. DIRECT COSTS OF CHARITABLE ACTIVITIES
| Support Costs |
Provision of Services |
Management & Administration |
Year Ended 31/08/23 |
|
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Wages | 11,732.33 | 46,929.33 | 58,661.66 | |
| Social Security | ||||
| Rent, Rates & Water | 11,072.37 | 2,755.14 | 13,827.51 | |
| Insurance | 644.45 | 644.45 | ||
| Light & Heat | 3,782.11 | 3,782.11 | ||
| Telephone | 80.74 | 645.93 | 80.74 | 807.41 |
| Postage & Stationery | 186.78 | 46.70 | 233.48 | |
| Purchases | 6,992.72 | 6,992.72 | ||
| Repairs & Renewals | 3,468.18 | 919.55 | 4,387.73 | |
| Cleaning | 51.40 | 205.60 | 0 | 257 |
| Legal and Professional | 600 | 600 | ||
| Advertising | ||||
| Sundries | 60 | 60 | ||
| Travel and subsistence | ||||
| Donations | 1,250 | 1,250 | ||
| Accountancy | 1,908 | 1,908 | ||
| Training | 375 | 375 | ||
| Fixtures & Fittings | 1,302.05 | 1,302.05 | ||
| Computer Equipment | 107.55 | 107.55 | ||
| 13,114.47 | 75,727.62 | 6,354.58 | 95,196.67 | |
continued...
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LITTLE WONDERS NURSERY AND EDUCATIONAL SERVICES LTD
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
6. SUPPORT COSTS
| Governance | Governance | |||
|---|---|---|---|---|
| Management | costs | Totals | ||
| £ | £ | £ | ||
| Provision of Services | 60 | - | 60 | |
| Management & Administration | 644 | 1,908 | 2,552 | |
| 704 | 1,908 | 2,612 | ||
| NET INCOME/(EXPENDITURE) | ||||
| Net income/(expenditure) is stated after charging/(crediting): | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Depreciation - owned assets | 1,409 | 927 |
7. NET INCOME/(EXPENDITURE)
8. 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.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
9. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Average number of employees No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 Other trading activities 120,703 Total 120,705 EXPENDITURE ON Charitable activities Support Costs 12,411 Provision of Services 65,147 Management & Administration 4,856 |
2023 10 Restricted fund £ - - - - - - |
2022 10 Total funds £ 2 120,703 |
|---|---|---|
| 120,705 | ||
| 12,411 65,147 4,856 |
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
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LITTLE WONDERS NURSERY AND EDUCATIONAL SERVICES LTD
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
| 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds fund £ £ Total 82,414 - NET INCOME 38,291 - RECONCILIATION OF FUNDS Total funds brought forward 431,935 - TOTAL FUNDS CARRIED FORWARD 470,226 - 11. TANGIBLE FIXED ASSETS Improvements Fixtures to and Computer property fittings equipment £ £ £ COST At 1 September 2022 65,652 16,205 3,925 Additions - 4,341 - At 31 August 2023 65,652 20,546 3,925 DEPRECIATION At 1 September 2022 - 11,865 3,599 Charge for year - 1,302 107 At 31 August 2023 - 13,167 3,706 NET BOOK VALUE At 31 August 2023 65,652 7,379 219 At 31 August 2022 65,652 4,340 326 12. DEBTORS 2023 £ Amounts falling due within one year: Other debtors 11,984 Prepayments 3,360 15,344 |
Total funds £ |
|
|---|---|---|
| 82,414 | ||
| 38,291 431,935 |
||
| 470,226 | ||
| Totals £ 85,782 4,341 90,123 15,464 1,409 16,873 73,250 70,318 2022 £ 11,984 4,071 16,055 |
||
continued...
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LITTLE WONDERS NURSERY AND EDUCATIONAL SERVICES LTD
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
12. DEBTORS - continued
| Amounts falling due after more than one year: Other loans Aggregate amounts 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Accrued expenses 14. MOVEMENT IN FUNDS At 1/9/22 £ Unrestricted funds General fund 339,843 Initial Fund 130,383 470,226 TOTAL FUNDS 470,226 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds Initial Fund 134,319 TOTAL FUNDS 134,319 |
2023 2022 £ £ 154,500 154,500 169,844 170,555 2023 2022 £ £ 57 (1) (2,500) (3,021) 5,811 - 7,725 7,700 11,093 4,678 Net movement At in funds 31/8/23 £ £ - 339,843 39,122 169,505 39,122 509,348 39,122 509,348 Resources Movement expended in funds £ £ (95,197) 39,122 (95,197) 39,122 |
|---|---|
continued...
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LITTLE WONDERS NURSERY AND EDUCATIONAL SERVICES LTD
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
14. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Initial Fund TOTAL FUNDS |
At 1/9/21 £ 339,843 92,092 431,935 431,935 |
Net movement in funds £ - 38,291 38,291 38,291 |
At 31/8/22 £ 339,843 130,383 |
|---|---|---|---|
| 470,226 | |||
| 470,226 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds Initial Fund TOTAL FUNDS |
Incoming resources £ 120,705 120,705 |
Resources Movement expended in funds £ £ (82,414) 38,291 (82,414) 38,291 |
Resources Movement expended in funds £ £ (82,414) 38,291 (82,414) 38,291 |
|---|---|---|---|
| 38,291 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Initial Fund TOTAL FUNDS |
At 1/9/21 £ 339,843 92,092 431,935 431,935 |
Net movement in funds £ - 77,413 77,413 77,413 |
At 31/8/23 £ 339,843 169,505 |
|---|---|---|---|
| 509,348 | |||
| 509,348 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds Initial Fund TOTAL FUNDS |
Incoming resources £ 255,024 255,024 |
Resources Movement expended in funds £ £ (177,611) 77,413 (177,611) 77,413 |
Resources Movement expended in funds £ £ (177,611) 77,413 (177,611) 77,413 |
|---|---|---|---|
| 77,413 |
continued...
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LITTLE WONDERS NURSERY AND EDUCATIONAL SERVICES LTD
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2023.
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LITTLE WONDERS NURSERY AND EDUCATIONAL SERVICES LTD
Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 AUGUST 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Other trading activities Student Fees Other income Sundry Receipts Total incoming resources EXPENDITURE Charitable activities Wages Rent, Rates and water Light and heat Telephone Postage and stationery Purchases Repairs and Renewals Cleaning Legal & Professional Fees Donations Training Fixtures and fittings Computer equipment Support costs Management Insurance Sundries Governance costs Accountancy and legal fees Total resources expended Net income |
2023 £ - 134,241 78 134,319 58,662 13,828 3,782 807 233 6,993 4,388 257 600 1,250 375 1,302 108 92,585 644 60 704 1,908 95,197 39,122 |
2022 £ 2 120,703 - |
|---|---|---|
| 120,705 52,164 13,200 1,995 799 27 6,717 1,222 848 64 1,500 - 766 161 |
||
| 79,463 600 551 |
||
| 1,151 1,800 |
||
| 82,414 | ||
| 38,291 |
This page does not form part of the statutory financial statements
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