Registered number 05405743 APPLETREE CHILDCARE (SHEFFIELD) LIMITED Report and Accounts Year ended 31 March 2024
APPLETREE CHILDCARE {SHEFFIELD) LIMITED Report of the Trustees for the period ended 31 March 2023 The trustees are pleased to present their report together with the financial statements of the charity for the period ended 31 March 2024. Legal and administrative details Charity number 1122241 {registered January 2008) Company number 5405743 Principal address The Pavilion Main Streel Grenoside Sheffield S35 8PR Bankers Co-operative Balloon Street Manchester Directors and trustees The directors of the charitable company (the charity) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the Irustees. The trustees serving during the period and since the period end were as follows.. Janet Parkin John Guymer Trevor Bagshaw Vikki KnoeS Lyndsey Herdman Richard Elliott Patricia Hudson Amy Stanbridge Objects and organisation The objects of the charity are= To advance the education of children and their families, resident predominantly but not exclusively in the City of Sheffield, through the provision of day care and pre-school facilities for children, which slimulates their gr0h and development through safe and stimulating play. In the interests of social welfare, to promole and provide educational, training, support and recreational facilities and other leisure time activities for such children and their families, so that their conditions of life may be improved and so that unemployment amongst such families may be relieved. The charity is managed by a voluntary management committee who are elected at the annual general meeting. Staff are employed in the day to day running of the organisation.
APPLETREE CHILDCARE (SHEFFIELD) LIMITED Report of the Trustees for the period ended 31 March 2024 A letree Childcare Review of Pro ress and Achievements 2023-24 2023-24 has been a year of highs, with the Kings Coronation and the opening of our new Blossoming Baby Room, which we have developed in the unused showers area of the pavilion after taking over the lease for this space in 2023. We now have a lovely spacious bright selling for babies from 3 monlhs to 2 years of age. We still rent space for our Wrap Around Childcare Irom Grenoside Community Association, which is next door to our nursery. There have also been some challenging times due to high utility costs, National Minimum Wage increases and a serious issue with our portable building roof. Overall, we have managed to keep sustainable, cutting costs wherever we can, and we continue to move forwards with a positive attitude. Trustees Our Board of Trustees continue to meet throughout the year to monitor and review our practices, offering advice and support where required. We were delighted to welcome o new Parent Trustee, Amy Stanbridge. Amy, a5 well as bringing a parent's views to our board of Trustees, has a wealth of experience with regards to legal matters and business skills, and has many contacts through her employment with Henry Boot plc, a leading property development and building construction business. Our Trustees all bring something different to our Board which benefits and improves the services that we provide. During 2023-24 one of our Trustees was employed, and another was connected to the charity. As allowed within the Charities M&A scope and powers permitting directors, and connected persons, benefits all declaration of directors, interests and conflicts of interests noted within the M&A were adhered to and appropriately recorded. A letree Childcare Staff Workin Practices There are now 25 members of staff working within the Appletree team. Many of our staff join Appletree without any childcare qualifications, as it is our aim to support people who may have had barriers to work. All stall members who work with the children underfake a minimum qualification of a NVQ 2 in Early Years Health and Wellbeing qualification, or equivalent. Many have progressed to an NVQ 3. We also have Room Managers and Executive Managers that work alongside our CEO. The Exec and Management team have now taken over many responsibilities from our CEO, who is the founder of Appletree, a5 she reduces her hours of work as she moves towards retirement. The remainder of our team consist of 2 Apprentices working towards their NVQ Qualifications and our wonderful housekeeping and caretaker team.
APPLETREE CHILDCARE (SHEFFIELD) LIMITED Report of the Trustees for the period ended 31 March 2024 Wa e increase Our Trustees again reviewed our staff wages, as the National Minimum Wage INMWI went up for most of our staff by 9.71.. Our Trustees have worked hard to increase our staff wages, moving them away from the NMW and implementing a wage scale Ihat reflects the responsibilities and experience of our team. Wilh careful planning we were able to maintain staff wages and from April 2023 all staff wages were increased to coincide with the increase in NMW. Our charilies strength is our stoff team, their proles5ionalism, skill, kindness and compassion. We continue to use Bhayani HR & Employment Law Advisors, who support us with HR needs to ensure we meet all our legal requirements. Fundin and Su We continue to visit the IKEA warehouse when invited, through IKEA charities aid and look fonNards to receiving an invitation to visit and see what resources they have to donatel We were very fortunate to have our Charity chosen to receive a 'Wish List, of wonderful new resources for our new baby room. Alastair Norton of Norton Mayfield Architects continues to be a great support, especially with the improvements to our baby room. Solicitors DLA Piper hove continued to support us on a pro-bono basis with legal advice when dealing with our lease with Sheffield City Council. Buildin Since agreeing the lease in 2012 on the Pavilion where we have our nursery, we have continued to maintain and update our buildings both inside and out making them bright and cheerful for our children and their families. Sadly. the roof gave way on our much-loved portable building, which is used for our 2-year-old Braeburns children. We had to close this building and move the children and staff out to keep them safe. This didn't stop us offering our services as we used the Community Centre, and our local Church Hall so continue offering our services for all our childrern. During the closure, fortunately, local residents came to our support. David Bell, who has a wealth of knowledge regarding structural design and Mathew Hague from Hague Roofing were able to repair the roof on the portable building so that we could reopen in January 2024. Lastly, it should be noted that we are still waiting for Sheffield City Council to invoice the Charity for the water and gas they provide and which our Charity is expected to pay for. Finances We have had a number of challenge5 this year but desplte these difficulties and with careful planning we have managed to keep our Charity's costs covered and have made a surplus in 2023-24
APPLETREE CHILDCARE (SHEFFIELD) LIMITED Report of the Trustees for the period ended 31 March 2024 Reserve5 Polic The reserves policy is to maintain free reserves in unrestricted funds at a level which equates to three months of projected charitable expenditure. This will enable sufficient time to seek alternative funding should existing funding cease and ensure the continued operation of the charity. The unrestricted reserve as at 31 st March 2024 is £123477 which the Trustees believe falls short of the target amount but we continue lo progress towards our goal.
APPLETREE CHILDCARE {SHEFFIELD) LIMrrED Report of the Trustees for the period ended 31 March 2023 - continued Trustee's responsibilities ststement The trustees (who are also directors for the purposes of company law) are responsible for preparing the Trustees, Annual 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 year, Mthich give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial slalements- prepare the financial slalements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepared in accordance wth the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. This report was approved by the board on 6 November 2024. J Parkin Direclor
Independent Examiner's Report to the Trustees of Appletree Childcare (Sheffield) Limited I report on the accounts of the company for the year ended 31 March 2024 which are set out on pages 7 to 13. Respective responsibilities of trustees and examiner The Irustees (who are also the directors of the company for Ihe purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is nol required for this year under section 14412) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 ané l am qualified to undertake the examination by being a qualified member of ICAEW. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: examine the accounts under section 145 of the 2011 Act., follow the procedures laid down in the general Direclions given by the Charity Commission under section 145(5){bl of the 2011 Act- and stale whether parlicular malters have come to my attenlion. Basis of independent examiner's report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by Ihe charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whelher the account5 present a "true and fair view" and Ihe report is limited to those matters set out in the statement below. Independent examiner's statement In connection with my examination. no malter has come lo my attention.. which gives me reasonable cause to believe that. in any material respect, the requirements.. lo keep accounting records in accordance with section 386 of the Compani es Act 2006: and lo prepare accounts which accord with Ihe accounting records, comply with the accounting requiremenls of section 396 of the Companies Acl 2006 and with the methods and principles of the Statement of Recommended Practice.. Accounting and Reporting by Charities have not been met., or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Keith Hawson FCA Walters Hawson Limited Norham House Mountenoy Road Rotherham S60 2AJ Date: 6 November 2024
APPLETREE CHILDCARE (SHEFFIELD) LIMITED Profit and Loss Account for the year ended 31 March 2024 2024 2023 Turnover 460,664 386,157 Adminislrative expenses Other operating income {435,832) (381,452) Operating profit 24,832 4,705 Interest payable (840) (1,082) Profit on ordinary activities before taxation 23,992 3,623 Tax on profit on ordinary activities Profit for the financial year 23,992 3,623
APPLETREE CHILDCARE (SHEFFIELD) LIMITED Statement of financial activities for the year èndèd 31 March 2024 Unrestrieted Restricted funds funds Total 2024 Total 2023 Notes Income Incoming from charitable activities Grants Fees Olher income Total Income 5,000 272,391 3,420 280,811 179,853 184,853 272,391 3,420 460,664 157,341 227,714 1,102 386,157 179,853 Expenditure Consumables Transport Gosts Refreshments Wages and salaries Employers national insurance Employers pension contributions Staff training and welfarè Travel and subsistence Rent Rates Property refurbishmenl Light and heal Waste collection Telephone and fax Stationery and printing Computer costs Licences and subscriptions Registration and inspection fees Insurance Repairs and maintenance Equipment repairs Depreciation Outings and events Sundry expenses Equipment leasing Accountancy fees Reporting accountants fees Legal and professional fees Marketing Bad debts Loan inleresl Total expenditure 9,275 40 4,320 148,676 11,852 4,979 1,581 151 15.573 837 12,292 9,975 3,702 3,738 1,651 4,059 804 9,275 40 4,320 328,529 11,852 4,979 1,581 151 15,573 837 12,292 9,975 3,702 3,738 1,651 4,059 804 8,463 3,914 284,994 8,778 4,405 1,014 116 13,906 179,853 17,400 3,287 3,437 3,916 1,042 3,113 889 1,027 1,755 4,850 1,344 1,937 6,539 1,475 3,418 805 258 738 13 2,580 3,333 310 1,068 840 256,819 1,937 6,539 1,475 3,418 805 258 738 1,772 238 478 600 2,090 5,096 2,092 1,436 1,082 382,534 2,580 3,333 310 1,068 840 436,672 179,853 Net in¢omel(expenditure) Transfers 23,992 23,992 3,623 Fund balances brought forward Fund balances carried forward 99,485 9,448 108,933 105,310 123,477 9,448 132,925 108,933
APPLETREE CHILDCARE (SHEFFIELD) LIMITED Registered number: 05405743 Balance Sheet As at 31 March 2024 Notes 2024 2023 Fixed assets Intangible assets Tangible assets 30,113 30,113 22,415 22,415 Current assets Debtors Cash at bank and in hand 13,692 131,062 144,754 11,563 119,426 130,989 Creditors: amounts falling due within one year 8a (23,728) (16,200) Net current assets 121,026 114,789 Total assets less current liabilities 151,139 137,204 Creditors: amounts falling due after more than one year 8b (18,214) {28,271) Provisions for liabilities Net assets 132,925 108,933 Capital and reserves Unrestricted income fund Restricted income funds 123,477 9,448 99,485 9,448 Total charity funds 132,925 108,933 The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the pparatiOn of accounts. The accounts have been prepared and delivered in accordan with the special provisions applicable to companies subject to the small companies regime. J Parkin Director Approved by the board on 6 November 2024
APPLETREE CHILDCARE {SHEFFIELD) LIMITED Notes to the Accounts for the year èndèd 31 March 2024 Aeeounting polieies Basis of preparation Appletree Chi14care (Sheffield) Limited is a charitable company limited by guarantee registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charily. The address of the registered office is given in the charily information on page 1 of these financial statements The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with the 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 IFRS 102)) (issued in October 2019)- (Charities SORP IFRS 1021), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies AGI 2006 Tumover Donatlons and sundry Income are accounted for on a recelpts basls. Grant Income and fee Income are accounted for on an accruals basis, insofar as it is prudent to do so. Depreclatlon Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. Plant and machinery Leasehold land and buildings 20 % reducing balance basis. 10°/0 reducing balance basis. Goodwill is being wrilten off in equal instalments over its estimated useful life of 10 years. Income recognition Items of income are recognised and included in the accounts when all ofthe following crileria are met: the charity has entitlemènt to the funds., any performance conditions attached to the item(s} of income have been met or a fully within the of the charity - there is sufficient certainty that receipt of the income is considered probable., and - the amount can be measured reliably 10
APPLETREE CHILDCARE (SHEFFIELD) LIMITED Notes to the Accounts for the year ended 31 March 2024 Accounting policies - continued Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds relate to incoming resources where the monies are ring-fenced by the grantor to be solely used for particular activities or projects. The Charity receives funding from the Local authority for free early learning places and specific support for children with special needs. This is included within restricted funds and, for clarity, is regarded as being entirely spent by the allocation of payToII costs. Where the Charity is able to secure any other grants which are for specific projects, that is shown as restricted income and the related expenditure is directly allocated as restricted fund expenditure. No support costs are allocated to restricted funds as the amounts involved would be negligible. Expenditure Expenditure is recognised On there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. For SORP accounts purposes, the Charity is regarded as having a single activity and simple affairs. In view of that, expenditure is reported by its natural analysis, and no distinction is made between direct expenditure, support expenditure and governance costs, all of which can be readily identified from the detailed breakdown of costs provided. Allocation of support costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and govemance costs which support the Charitvs activities. As noted above, these costs are shown under their natural analysis under unrestricted funds. Grants and donations 2024 2023 Grants and donations received during the year were.. Restricted.. Sheffield City Council - Free early leaming fund other charitable trusts Sheffield City Council - Training funding Sheffield City Council - Special needs grant 177,788 155,650 500 1,565 179,853 1.500 157,150 Unrestricted.. Grants- other 5,000 5,000 191 191 11
APPLETREE CHILDCARE {SHEFFIELD) LIMrrED Notes to the Accounts for the year ended 31 March 2024 Other income 2024 2023 Fund raising Other income Donations 2,666 754 1.029 73 3,420 1,102 Staff number and costs No employees received emoluments in excess of £60,000 per year. The average number of employees during the period was 25. Intangible fixed assets Goodwill: 2024 Cost At 1 April 2023 At 31 March 2024 30,000 30,000 Amortisation At 1 April 2023 Provided during the period At 31 March 2024 30,000 30,000 Net book value At 31 March 2024 At 31 March 2023 Tangible fixed assets Leasehold land and buildings Plant and machinery Total Cost At 1 April 2023 Additions At 31 March 2024 24,862 11,112 35,974 7,370 32,232 11,112 43,344 7,370 Depreciation At 1 April 2023 Charge for the period At 31 March 2024 (3,087) (3,289) (6,376) (6,726) (129) (6,855) {9,813) {3,418) (13,231) Net book value At 31 March 2024 At 31 March 2023 29,598 21,775 515 644 30,113 22,419 12
APPLETREE CHILDCARE (SHEFFIELD) LIMITED Notes to the Accounts for the year ended 31 March 2024 Debtors 2024 2023 Trade debtors Other debtors 7,306 6,386 13,692 5,449 6,114 11,563 8a Creditors: amounts falling due within one year Bank loan Trade creditors Other taxes and social security costs Other creditors Accruals 10,056 4,474 987 9,808 2,527 1,016 2,849 16,200 8,211 23,728 8b Creditors: amounts falling after more than one year Bank loan 18,214 18.214 28,271 28,271 Restricted funds At 01104123 Incoming Outgoing Resources Resources Transfers At 31103124 Sheffield City Council - Free early learning Sheffield City Council - Other Grant- ECC re CCTV Grant- Reach Fund 177,788 500 {177,788) (500) 688 8.760 9.448 688 8,760 9,448 178,288 178,288 10 Other financial commitments Total amount of commitments, guarantees and contingenGies is £303,500. The above includes a lease which commenced on 21 May 2012 with a term of 40 years, and a supplemental lease commencing in 2022 to the same date. Rent is fixed at fair market value. 11 Trustee remuneration and other related party transaction As permitted by the Charity's constitution, the charity employed trustees. or persons connected with a trustee, within its settings and paid for their services accordingly. For the year ended 31 March 2024, the payToII costs were as follows" J Parkin M Guymer £22,904 Trustee and Chief Executive Officer £25,979 A person who is a Related Party of a trustee No trustees were paid or expenses reimbursed for their work as trustees of the Charity. 13