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← Harvey Road Day Nursery Limited

2023-09-30-accounts

Registered number: 06283794 Charity number: 1121441

HARVEY ROAD DAY NURSERY LIMITED

(A Company Limited by Guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

HARVEY ROAD DAY NURSERY LIMITED

(A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 - 24

HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2023

Trustees J Gibson
R Oren
L Patasic
Company registered
number
06283794
Charity registered
number
1121441
Registered office
9 - 10 Harvey Road
Cambridge
CB1 2ET
Accountants
M Hewett FCA DChA
Chartered Accountants
Salisbury House
Station Road
Cambridge
CB1 2LA
Bankers
CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Cambridge Building Society
51 Newmarket Road
Cambridge
CB5 8FF
Scottish Widows
67 Morrison Street
Edinburgh
EH3 8YJ
Nursery Manager
S Baldry
Deputy Manager
M Griffin M Guy

Page 1

HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023

The Trustees present their annual report together with the financial statements of the Charity for the 1 October 2022 to 30 September 2023. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

OBJECTIVES AND ACTIVITIES

a. Policies and objectives

The Nursery has 6 main objectives to its operation:

In order to ensure that everything we undertake is in line with recognised equality of opportunity quality standards and to provide for the welfare of all our service users, members and participants, all of our work will be informed through our policies and statements which have been developed in line with legal requirements:

Page 2

HARVEY ROAD DAY NURSERY LIMITED

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

OBJECTIVES AND ACTIVITIES (CONTINUED)

An up to date Policy and Procedures book is in each room, office and staff room. New parents are also directed to the website which is regularly updated.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Activities undertaken to achieve objectives

The Nursery is inspected by OFSTED and will aim to respond appropriately and within reasonable timeframes to any issues raised. Staff and Trustees as well as parents are involved with this process and feedback is made available to each representative party. The nursery was not inspected by OFSTED this year.

The Nursery actively seeks feedback from parents and stakeholders. Regular meetings are held with the Hundred Houses Society—the owner and manager of the Nursery building. Parents are kept informed of nursery activities and their child’s development specifically via email or Tapestry, the nursery’s online portal for parents and staff to share information.

The Nursery Manager operates a continual process of place management and monitors our waiting list for places. She alerts the Board of Management to any unfilled nursery places and advises what is being done to reach maximum capacity.

ACHIEVEMENTS AND PERFORMANCE

a. Review of activities

The children enjoyed various celebrations throughout the year, including a Christmas sing along and a visit from Father Christmas. They also enjoyed a trip to the Botanic Gardens, the Police Station and to nearby Parker’s Piece.

We had photographers in twice during the year, one to take more formal photos indoors in the Autumn and another to take natural photographs of the children in the garden in the spring.

Coach Salv came once a fortnight throughout the year to do sports with the children and Coach Jodie came to do dance.

The children also experienced caterpillars turning into cocoons and then butterflies, as well as a visit with a staff member’s rabbits, who spent the day with us.

Staff continue to attend various training both face to face and online over the year to enhance their personal development.

In June, staff all went to the Theatre to see “The Bodyguard”, a great day out was had by all.

Page 3

HARVEY ROAD DAY NURSERY LIMITED

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

b. Staffing

We are at full capacity in terms of the number of children we can take, with the limiting factor being the recruitment of qualified staff. This is a problem across the sector and particularly bad in Cambridge. One of the ways we have dealt with this challenge is by partnering with Cambridge Regional College to bring trainees who work towards their certification while they are with us.

This year, one of our trainees achieved their certification and became a full-time member of staff. We also took on 2 new trainees who will work towards their certification, with the aim of becoming full time members of staff next year who are committed to our nursery for a year after their training is completed.

c. Renovations & Environment:

We installed new fans in all the rooms as air conditioning was not possible due to cost and planning issues.

We also made repairs to the kitchen and bathroom in the Kopala room during the year.

d. Parent Participation

We held our 2nd annual summer social event in the nursery garden in July. Everyone had a lot of fun with the majority of parents and staff joining us meaning over 100 in attendance.

The nursery organised two Bags 2 School fundraising events, which proved to work well. We will continue this next year.

The Board of Directors continues to be run by parents. There are currently three Directors and we are in the process of recruiting two more.

FINANCIAL REVIEW

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future.

We continue to have a full waiting list and places are full at all times. Energy costs remain high and we are limited in our ability to search for cheaper electricity and gas by the terms of our lease. The nursery continues to monitor its outgoings very closely, especially food costs that are kept as low as possible by frequently shopping around.

For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Page 4

HARVEY ROAD DAY NURSERY LIMITED

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

b. Reserves policy

In case of unexpected events, such as increases in costs or loss of income streams, we are aiming to retain free reserves equivalent to 4-5 months' turnover (£140,000 to £180,000). As at 30 September 2023, reserves were £158,801, which is within the target range. We continue to hold our reserves in cash, split between our accounts.

c. Financial position and performance

The Statement of Financial Activities covers the period 1 October 2022 to 30 September 2023. The detailed results of the period's operations are set out in the attached financial statements.

Income for the year was £426,740, which comprised £423,391 (2022: £402,779) from parents' fees and grant income, £1,137 (2022: £796) from bank interest, £1,962 (2022: £206) from donations and grants, £nil (2022: £2,000) from government grants and £250 (2022: £294) from photograph commission.

Expenditure amounted to £417,807 (2022: £429,683), of which £384,224 (2022: £397,805) related to direct costs and £33,583 (2022: £31,878) related to support and governance costs. There was a net inflow of funds for the period of £8,933 (2022: outflow £23,608). The retained reserves at 30 September 2023 amounted to £173,896 (2022: £164,963).

Nursery Fees continue to be the main source of income. Areas of expenditure have already been mentioned in the Review of Activities section as we continue to maintain and develop the nursery facilities.

The Nursery receives the use of premises, which are leased from a social housing provider in Cambridge. As a social housing provider, the landlord does not let out properties at a market rent and therefore due to the nature of the property the landlord is not able to determine a market rent. No in-kind donation for rent has therefore been included in these financial statements.

STRUCTURE, GOVERNANCE AND MANAGEMENT

a. Constitution

Harvey Road Day Nursery Limited is registered as a charitable company limited by guarantee (registered number 06283794) and was set up by a Memorandum of Association on 18 June 2007. It is a registered charity, number 1121441.

The principal object of the charity is to establish and carry on a nursery school ("the Nursery") for the inhabitants of Cambridgeshire and the neighbouring counties where children may be educated and to use the Nursery as a childcare centre for the inhabitants of Cambridgeshire and the neighbouring counties where children may be cared for.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are appointed by the members by ordinary resolution. The Trustees must stand down after the first year of operation and will then offer themselves for re-election at the first annual general meeting. Trustees will then retire in rotation and may be re-elected at subsequent annual general meetings.

The Trustees themselves may also appoint a person who is willing to act as a Trustee. A Trustee so appointed must retire at the next annual general meeting and must not be taken into account in determining the Trustees who are to retire by rotation.

Page 5

HARVEY ROAD DAY NURSERY LIMITED

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT (CONTINUED)

c. Organisational structure and decision-making policies

The Trustees of the Charity, operating as a Board of Management, determine strategic priorities and oversee the financial management of the Charity. The day to day running of the Nursery is delegated by the Board of Management to the Nursery Manager and her deputies and staff. The Board of Management meets every two months to review the performance of the Nursery and consider issues which arise which affect the running of the Nursery.

d. Trustees

The Trustees who served during the year were:

J Gibson R Oren L Patasic

e. Financial risk management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

PLANS FOR THE FUTURE

We are updating fans in all areas of the nursery to improve air quality in the building for the benefit of the children and staff.

We are also undertaking improvements to the Koala room bathroom and steadily increasing staffing levels and child numbers.

Future proofing our nursery through our already successful apprenticeship scheme with Cambridge Regional College.

Page 6

HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. 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.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................ J Gibson Trustee Date: 11/03/2024

Page 7

HARVEY ROAD DAY NURSERY LIMITED

(A Company Limited by Guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HARVEY ROAD DAY NURSERY LIMITED ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 September 2023.

RESPONSIBILITIES AND BASIS OF REPORT

As the Trustees of the Charity (and 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 Charity 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 the Charity's accounts 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

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  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

  4. 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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: Mr M Hewett Peters Elworthy & Moore, Cambridge, CB1 2LA

Dated:

FCA DChA

Page 8

HARVEY ROAD DAY NURSERY LIMITED

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Note
INCOME FROM:
Donations
3
Charitable activities
4
Investments
5
Other income
6
TOTAL INCOME
EXPENDITURE ON:
Charitable activities
7
TOTAL EXPENDITURE
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
Net movement in funds
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
2023
£
301
394,737
1,137
250
396,425
387,492
387,492
8,933
162,436
8,933
171,369		 Restricted
funds
2023
£
1,661
28,654
-
-
30,315
30,315
30,315
-
2,527
-
2,527		 Total
funds
2023
£
1,962
423,391
1,137
250
426,740
417,807
417,807
8,933
164,963
8,933
173,896		 Total
funds
2022
£
206
402,779
796
2,294
406,075
429,683
429,683
(23,608)
188,571
(23,608)
164,963

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 11 to 24 form part of these financial statements.

Page 9

HARVEY ROAD DAY NURSERY LIMITED

(A Company Limited by Guarantee) REGISTERED NUMBER: 06283794

BALANCE SHEET AS AT 30 SEPTEMBER 2023

Note
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
NET CURRENT ASSETS
TOTAL NET ASSETS
CHARITY FUNDS
Restricted funds
15
Unrestricted funds
15
TOTAL FUNDS		 5,449
227,595
233,044
(71,716)		 2023
£
12,568
12,568
161,328
173,896
2,527
171,369
173,896		 1,024
216,730
217,754
(68,887)		 2022
£
16,096
16,096
148,867
164,963
2,527
162,436
164,963

The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

J Gibson Trustee

Date: 11/03/2024

The notes on pages 11 to 24 form part of these financial statements.

Page 10

HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. GENERAL INFORMATION

The Charity is a company limited by guarantee. The members of the Charity are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the Charity.

The functional and presentational currency is GBP.

2. ACCOUNTING POLICIES

2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Harvey Road Day Nursery Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

There were no significant estimates or judgements made by management in preparing these financial statements.

2.2 GOING CONCERN

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future.

We continue to have a full waiting list and places are full at all times. The nursery continues to monitor its outgoings very closely, especially food costs that are kept as low as possible by frequently shopping around.

For this reason, they continue to adopt the going concern basis in preparing the financial statements.

There are no material uncertainties in relation to going concern.

Page 11

HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES (CONTINUED)

2.3 INCOME

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Interest on funds held on deposit is included 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 institution with whom the funds are deposited.

Parent fees are recognised in the period to which they relate, with any fees received in advance being deferred.

Donations are recognised in the period in which they are received.

2.4 EXPENDITURE

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Support costs including governance costs are those costs incurred directly in support of expenditure on the objects of the Charity and include overheads incurred in the running of the Nursery. Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements.

All expenditure is inclusive of irrecoverable VAT.

2.5 GOVERNMENT GRANTS

Government grants other than for tangible fixed assets are credited to the Statement of Financial Activities as the related expenditure is incurred.

Page 12

HARVEY ROAD DAY NURSERY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES (CONTINUED)

2.6 TANGIBLE FIXED ASSETS AND DEPRECIATION

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

2.7 DEBTORS

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 CASH AT BANK AND IN HAND

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.9 LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.10 FINANCIAL INSTRUMENTS

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.11 OPERATING LEASES

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

Page 13

HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES (CONTINUED)

2.12 PENSIONS

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.13 FUND ACCOUNTING

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.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3. INCOME FROM DONATIONS

Unrestricted
funds
2023
£
Donations
301
Grants
-
301
TOTAL 2022
206		 Restricted
funds
2023
£
161
1,500
1,661
-		 Total
funds
2023
£
462
1,500
1,962
206		 Total
funds
2022
£
206
-
206

The nursery operates from premises in Cambridge, leased from a social housing provider with a peppercorn rent. As a social housing provider, the landlord does not let out properties at a market rent and therefore due to the nature of the property the landlord is not able to determine a market rent. No inkind donation for rent has therefore been included in these financial statements.

Page 14

HARVEY ROAD DAY NURSERY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

4. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted
funds
2023
£
Education and milk grant
-
Parents fees
394,737
394,737
TOTAL 2022
376,531		 Restricted
funds
2023
£
28,654
-
28,654
26,248		 Total
funds
2023
£
28,654
394,737
423,391
402,779		 Total
funds
2022
£
26,248
376,531
402,779

5. INVESTMENT INCOME

Unrestricted
funds
2023
£
Bank interest
1,137
TOTAL 2022
796		 Total
funds
2023
£
1,137
796		 Total
funds
2022
£
796

6. OTHER INCOME

Government grants
Photography commission
TOTAL 2022		 Unrestricted
funds
2023
£
-
250
250
2,294		 Total
funds
2023
£
-
250
250
2,294		 Total
funds
2022
£
2,000
294
2,294

Page 15

HARVEY ROAD DAY NURSERY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

7. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Summary by fund type

Unrestricted
funds
2023
£
Nursery school education
387,492
TOTAL 2022
403,435		 Restricted
funds
2023
£
30,315
26,248		 Total
2023
£
417,807
429,683		 Total
2022
£
429,683

8. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Nursery school education
TOTAL 2022		 Activities
undertaken
directly
2023
£
384,224
397,805		 Support
costs
2023
£
33,583
31,878		 Total
funds
2023
£
417,807
429,683		 Total
funds
2022
£
429,683

Page 16

(A Company Limited by Guarantee)

HARVEY ROAD DAY NURSERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

8. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

ANALYSIS OF DIRECT COSTS

Staff costs
Depreciation
Equipment
Staff training and welfare
Cleaning
Premises costs
Food and chef costs
Bank charges
Advertising and recruitment costs
Stationery
Subscriptions
TOTAL 2022		 Nursery
school
education
2023
£
297,573
3,527
2,400
68
20,476
44,794
12,586
259
-
256
2,285
384,224
397,805		 Total
funds
2023
£
297,573
3,527
2,400
68
20,476
44,794
12,586
259
-
256
2,285
384,224
397,805		 Total
funds
2022
£
311,458
4,277
2,273
316
18,890
47,243
8,974
293
2,251
293
1,537
397,805

Page 17

(A Company Limited by Guarantee)

HARVEY ROAD DAY NURSERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

8. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

ANALYSIS OF SUPPORT COSTS

Nursery
school
education
2023
£
Staff costs
21,352
Telephone and internet
1,457
Computer costs
888
Staff training and welfare
1,792
Payroll costs
2,041
Accountancy fees - governance
6,053
33,583
TOTAL 2022
31,878
9.
INDEPENDENT EXAMINER'S REMUNERATION
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts
Fees payable to the Charity's independent examiner in respect of:
Accountancy services
10.
STAFF COSTS
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 Total
funds
2023
£
21,352
1,457
888
1,792
2,041
6,053
33,583
31,878
2023
£
3,308
2,200
2023
£
300,910
14,884
3,131
318,925		 Total
funds
2022
£
21,520
2,259
982
-
2,022
5,095
31,878
2022
£
3,056
2,040
2022
£
311,235
17,866
3,877
332,978

Page 18

HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

10. STAFF COSTS (CONTINUED)

The average number of persons employed by the Charity during the year was as follows:

Nursery staff
Administration		 2023
No.
22
1
23		 2022
No.
20
1
21

No employee received remuneration amounting to more than £60,000 in either year.

The key management personnel of the charity comprise the Trustees and the Manager and two Deputy Managers. The Trustees all give their time and expertise without any kind of remuneration or other benefit in kind (2022: £Nil). The total employment benefits of key management personnel including pension contributions and employers' national insurance was £106,914 (2022: £104,272).

11. TRUSTEES' REMUNERATION AND EXPENSES

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).

During the year ended 30 September 2023, no Trustee expenses have been incurred (2022 - £NIL).

Page 19

HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

12. TANGIBLE FIXED ASSETS

COST
At 1 October 2022
At 30 September 2023
DEPRECIATION
At 1 October 2022
Charge for the year
At 30 September 2023
NET BOOK VALUE
At 30 September 2023
At 30 September 2022
DEBTORS
Trade debtors
Other debtors
Prepayments and accrued income		 2023
£
177
2,266
3,006
5,449		 Total
£
75,410
75,410
59,314
3,528
62,842
12,568
16,096
2022
£
227
665
132
1,024

13. DEBTORS

Page 20

HARVEY ROAD DAY NURSERY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Payments received on account
Trade creditors
Other taxation and social security
Other creditors (including £32,314 deposits held)
Accruals and deferred income
Deferred income at 1 October 2022
Resources deferred during the year
Amounts released from previous periods		 2023
£
591
11,504
5,491
33,241
20,889
71,716
2023
£
3,188
8,438
(3,188)
8,438		 2022
£
1,238
10,370
4,139
31,006
22,134
68,887
2022
£
4,596
3,188
(4,596)
3,188

Resources deferred during the year relate to education grant income.

Page 21

HARVEY ROAD DAY NURSERY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

15. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR

UNRESTRICTED FUNDS
General Funds
RESTRICTED FUNDS
Milk Fund
Education Grant Fund
Donations Fund
Staff events
Cambridge Regional College
TOTAL OF FUNDS		 Balance at 1
October
2022
£
162,436
-
-
2,527
-
-
2,527
164,963		 Income
£
396,425
1,636
27,018
-
161
1,500
30,315
426,740		 Expenditure
£
(387,492)
(1,636)
(27,018)
-
(161)
(1,500)
(30,315)
(417,807)		 Balance at
30
September
2023
£
171,369
-
-
2,527
-
-
2,527
173,896

Page 22

HARVEY ROAD DAY NURSERY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

15. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS - PRIOR YEAR

Balance at
1 October
2021
£
Income
£
UNRESTRICTED FUNDS
General Funds
186,044
379,827
RESTRICTED FUNDS
Milk Fund
-
1,461
Education Grant Fund
-
24,787
Donations Fund
2,527
-
2,527
26,248
TOTAL OF FUNDS
188,571
406,075
16.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR
Unrestricted
funds
2023
£
Tangible fixed assets
12,568
Current assets
230,517
Creditors due within one year
(71,716)
TOTAL
171,369		 Expenditure
£
(403,435)
(1,461)
(24,787)
-
(26,248)
(429,683)
Restricted
funds
2023
£
-
2,527
-
2,527		 Balance at
30
September
2022
£
162,436
-
-
2,527
2,527
164,963
Total
funds
2023
£
12,568
233,044
(71,716)
173,896

Page 23

(A Company Limited by Guarantee)

HARVEY ROAD DAY NURSERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED)

ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR

Tangible fixed assets
Current assets
Creditors due within one year
TOTAL		 Unrestricted
funds
2022
£
16,096
215,227
(68,887)
162,436		 Restricted
funds
2022
£
-
2,527
-
2,527		 Total
funds
2022
£
16,096
217,754
(68,887)
164,963

17. PENSION COMMITMENTS

The nursery operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the nursery in an independently administered fund. The pension cost charge represents contributions payable by the nursery to the fund and amounted to £3,131 (2022: £3,877). At the balance sheet date there were prepaid contributions of £2,266 (2022: £665 outstanding).

18. OPERATING LEASE COMMITMENTS

At 30 September 2023 the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years		 2023
£
2,215
5,635
5,700
13,550		 2022
£
2,215
5,635
6,840
14,690

The nursery leases premises from a social housing provider. The lease allows for payment of a peppercorn rent, although this has not been invoiced for some years. The nursery has a commitment to contribute to the Housing Cyclical Budget of £475 plus VAT twice a year, which is included within the above figures.

19. RELATED PARTY TRANSACTIONS

The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 30 September 2023.

Page 24