LAMESLEY CHILDCARE
Charity number: 1122506
TRUSTEES ANNUAL REPORT 2021
Aims - To provide inclusive, quality, affordable childcare for families and children during school time to enable parents/carers to train, work, or access further education. Provide holiday care for families from Gateshead, North and South Tyneside. Create more jobs thus increase childcare places in all our provisions. Tender for new business and boost economic growth in our sector and the community.
Effects of COVID19 - The last two years have been very challenging for the charity. Our desire to provide quality childcare to parents has been impacted by the lockdowns and mental and physical abilities of our staff. Some members of our staff were unable to work due to health problems and being affected by the virus. This put an enormous strain on the remaining staff who went above their normal duties to ensure the service could be delivered when the schools reopened. During lockdown we maintained a service at all schools for critical workers. The Trustees sent personal thank you cards to all the staff to acknowledge the additional work they had done. This small token was received with thanks, and many were grateful for the thanks we extended to them. We successfully claimed furlough for staff that were unable to work due to the lockdowns which resulted in the closure of the schools. This allowed our staff to maintain a stable financial stability during this unprecedented time. As we operate into the Spring school term, we will follow government guidelines and work with schools to ensure continuity of care and routines in the settings.
Holiday club - We were successful in securing a Discretionary grant through Gateshead Council’s Economic Development Service to support the charity through its financial loss when not operating. We were unable to open club due Easter, Whit, Summer 2020, although we opened in October, our numbers were very low.
The clubs - We operate five breakfast clubs, five out of school clubs and one holiday clubs across the area. Offering wraparound care within school is advantageous for children, parents, school, and ourselves, as we work collectively to give children the best start in life and skills to equip them on their voyage of growing up. We can offer up to 300 breakfast club places per day and 300 out of school club places per day, thus provide parents with more childcare provider choice across the borough. Lamesley Childcare is committed to ensure that there are appropriately skilled and trained staff within all our provisions. This is to enable high quality and professional childcare delivery in a consistent and standardised way. Our Quality, Training and Recruitment manager continues to support managers in our existing and new provisions to improve quality and to support the coordinator to recruit and develop staff through training and inhouse mentoring. We continue to review and restructure our staffing structure to enable all provisions to have the correct mix of highly skilled and trained staff and have increased our clerical officers’ hours to take on extra responsibility with the additional workload produced by our expansion and workplace pension. We are one of the few out of school providers who offer holiday care for working parents/carers in the borough, this much needed service ensures families can work 51 weeks of the year. We open over the Christmas period if parents require
a service, this is not always needed but we continue to offer childcare and will open on request. We have approximately 485 registered families who use the service per annum and approximately 250 children per day using our breakfast clubs and afterschool clubs. We achieved an ‘Outstanding’ rating from Ofsted when we were inspected in our Harlow Green provision in December 2017 and a ‘Good@ rating for our Kells Lane provision, our Oakfield provision and our Springwell Village provision. Ofsted inspection gradings have changed from September 2019 and they no longer issue Outstanding, Good and Inadequate replaced with Met, ‘not met with actions’ or ‘not met with enforcement’. Our Andrew’s Church Hall holiday provision was rated Met as was our Lingey House breakfast and after school provision who achieved a Met this year. St John Boste breakfast and out of school provision are due their Ofsted inspection within the next few months. We employ 36 staff and 1 volunteer. We are currently recruiting four posts for playworkers as we aim to offer opportunities to long term unemployed young people and to help them to gain employment. We have experienced difficulties in recruiting staff and predict that this recruitment will take longer than we anticipated, this and long-term sick and maternity leave is impacting on the number of new children we are able to enrol at this time. We continue to offer free childcare to all staff who have nursery and school aged children as this enables parents back into employment as the wraparound hours we work suit parents with young children, this has proved advantageous in recruiting and retaining staff.
The staff - Staff have in place Health and Safety, Food Hygiene, Moving and Handling, Paediatric First Aid and Child Protection plus a range of certified training to support them in their job and to offer the best possible care to our users. Our aim is to make sure this essential training is attended by all staff; that it fits into their working day and staff are not taking time off work to attend training. We have also registered for online training and all staff have sat a wide range of Safeguarding courses such as FGM, Recognising Abuse, Online Safety and Online Bullying. Due to the impact of Covid in raising issues such as Domestic Violence and Mental Health Level 2, has resulted in our staff obtaining qualifications to support families and staff who use work and use the service. Those identified as having issues are supported by staff and referred to our Occupational Health team where they can offer consultations and support funded by the charity. We continue to offer apprenticeships for young people in our community and we have recently recruited two young apprentices and offered a traineeship to a young person in the community. We encourage staff to enrol on further education courses to help them progress in the organisation. We have a board of Directors who are proactive in setting the direction of the charity and in developing our vision, as well as being committed to developing staff and projects, that raise the profile of the organisation.
Finances – We are still commenced this financial year as a result of the pandemic. A high percentage of our current expenditure is on maintaining a supply of high-quality games and activities for children in all of our settings, printing and IT, rent and utilities. Source of income/finance Parents’ payments in the form of childcare fees are our main source of income. Marketing and selling childcare places help reduce the risk of any shortfall in funds and good housekeeping, with our accounts being audited every six months by a local accountancy firm, Murray Lamb. Six weekly meetings were held by Trustees via
ZOOM to monitor and evaluate finances and to review the vision of Lamesley Childcare.
Trustee signature: C Kennedy
Trustee name: Christine Kennedy
Date: 29.01.2022
Company Registration No. 06228438 (England and Wales)
LAMESLEY CHILDCARE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
LAMESLEY CHILDCARE COMPANY INFORMATION
| Directors | Mrs Joan Alexanders |
|---|---|
| Mrs Tracy Dawson | |
| Christine Kennedy | |
| Secretary | Mrs Joan Alexanders |
| Company number | 06228438 |
| Registered ofce | St Andrews Church |
| Hall | |
| Lamesley Crossroads | |
| Lamesley | |
| Gateshead | |
| NE11 0EU | |
| Accountants | Murray and Lamb |
| 12 Bessemer Court | |
| Hownsgill Industrial | |
| Park | |
| Knitsley Lane | |
| Consett | |
| Co. Durham | |
| DH8 7BL |
LAMESLEY CHILDCARE
CONTENTS
LAMESLEY CHILDCARE
| Page | |
|---|---|
| Directors' report | 1 |
| Accountants' report | 2 |
| Income and expenditure account | 3 |
| Balance sheet | 4 |
| Notes to the fnancial statements | 5 - 8 |
LAMESLEY CHILDCARE
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2021
The directors present their annual report and financial statements for the year ended 31 March 2021.
Principal activities
The principal activity of the company continued to be that of a child care centre.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mrs Joan Alexanders Mrs Tracy Dawson Christine Kennedy
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
By order of the board
..............................
Mrs Joan Alexanders Secretary
Date: .............................................
- 1 -
LAMESLEY CHILDCARE
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LAMESLEY CHILDCARE FOR THE YEAR ENDED 31 MARCH 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lamesley Childcare for the year ended 31 March 2021 set out on pages 3 to 8 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/ members/regulations-standards-and-guidance.
Murray and Lamb ......................... Chartered Accountants 12 Bessemer Court Hownsgill Industrial Park Knitsley Lane Consett Co. Durham DH8 7BL
This report is made solely to the Board of Directors of Lamesley Childcare, as a body, in accordance with the terms of our engagement letter dated 31 March 2008. Our work has been undertaken solely to prepare for your approval the financial statements of Lamesley Childcare a nd state those matters that we have agreed to state to the Board of Directors of Lamesley Childcare, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lamesley Childcare and its Board of Directors as a body, for o ur work or for this report.
It is your duty to ensure that Lamesley Childcare has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, l iabilities, financial position and deficit o f Lamesley Childcare. You consider that Lamesley Childcare is exempt from the statutory audit r equirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Lamesley Childcare. For this reason, we have not verified the accuracy or completeness of the a
- 2 -
LAMESLEY CHILDCARE
ccounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
- 3 -
LAMESLEY CHILDCARE
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2021
| 2021 £ Income 230,558 Administrative expenses (431,237) Other operating income 169,263 Operating (defcit)/surplus (31,416) Interest receivable and similar income 40 (Defcit)/surplus before taxation (31,376) Tax on (defcit)/surplus - (Defcit)/surplus for the fnancial year (31,376) |
2020 £ 525,93 3 (521,81 7) - |
|---|---|
| 4,116 672 |
|
| 4,788 - 4,788 |
- 4 -
LAMESLEY CHILDCARE
BALANCE SHEET
AS AT 31 MARCH 2021
| 2021 | 2020 | 2020 | ||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| Fixed assets | ||||||
| Tangible assets | 4 | 19,073 | 22,439 | |||
| Current assets | ||||||
| Debtors | 5 | 5,994 | 9,881 | |||
| Cash at bank and in hand | 197,251 | 201,905 | ||||
| 203,245 | 211,786 | |||||
| Creditors: amounts falling due | within | |||||
| one year | 6 | (77,490) | (58,021) | |||
| Net current assets | 125,755 | 153,765 | ||||
| Net assets | 144,828 | 176,204 | ||||
| Reserves | ||||||
| Income and expenditure account | 144,828 | 176,204 | ||||
| Members' funds | 144,828 | 176,204 |
For the financial year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
Th e members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on ......................... and are signed on its behalf by:
.............................. Mrs Joan Alexanders Director
- 5 -
LAMESLEY CHILDCARE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies Company Registration No. 06228438
Company information
Lamesley Childcare is a private c ompany limited by guarantee incorporated in England and Wales. T he registered office is St Andrews Church Hall, Lamesley Crossroads, Lamesley, Gateshead, NE11 0EU.
1.1 Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting
Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. M onetary am ounts i n these financial statements are r ounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim it.
1.3 Tangible fixed assets
Tangible fixed assets a re initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
15% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and i s credited or charged to surplus or deficit.
- 6 -
LAMESLEY CHILDCARE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
1.4 Impairment of fixed assets
At each reporting p eriod e nd date, the c ompany r eviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company e stimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5 Cash and cash equivalents
Cash and cash equivalents a re basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
(Continued)
1.6 Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest m ethod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from f ellow group companies and preference shares that are classified as debt, are i nitially recognised at transaction price unless the arrangement constitutes a f inancing transaction, where the debt instrument is measured at the present value of t he future p ayment s discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
- 7 -
LAMESLEY CHILDCARE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
Debt instruments are subsequently carried at amortised cost, using the effective i nterest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired i n the ordinary course of business from suppliers. Am o unts payable are classified as c urrent liabilities if payment is due within one year or less. If not, they are presented a s noncurrent liabilities. Trade creditors are recognised initially at transaction price a nd subsequently measured at amortised cost using the effective interest method.
1.7 Taxation
The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.
1.8 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9 Leases
Rentals payable under operating leases, i ncluding any lease incentives received, are charged to p rofit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
- 8 -
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
LAMESLEY CHILDCARE
1 Accounting policies
(Continued)
1.10 Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions i t i s recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2 Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Employees
The average monthly number of persons (including directors) employed by the company during the year was:
| 2021 | 2020 | ||
|---|---|---|---|
| Number | Number | ||
| Total | 35 | 28 | |
| 4 | Tangible fxed assets | Fixture | |
| s, fttings | |||
| & | |||
| equipme | |||
| nt | |||
| Cost | £ | ||
| At 1 April 2020 and 31 March 2021 | 49,639 |
- 9 -
LAMESLEY CHILDCARE
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED) FOR THE YEAR ENDED 31 MARCH
2021
| Depreciation and impairment At 1 April 2020 Depreciation charged in the year At 31 March 2021 Carrying amount At 31 March 2021 At 31 March 2020 5 Debtors Amounts falling due within one year: Service charges due Other debtors |
27,200 3,366 30,566 19,073 22,439 2021 2020 £ £ (1) - 5,995 9,881 5,994 9,881 |
27,200 3,366 30,566 19,073 22,439 2021 2020 £ £ (1) - 5,995 9,881 5,994 9,881 |
|---|---|---|
| 9,881 |
6 Creditors: amounts falling due within one year
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Bank loans | 50,000 | - |
| Trade creditors | 1,033 | 3,531 |
| Taxation and social security | 5,782 | 12,816 |
| Other creditors | 20,675 | 41,674 |
| 77,490 | 58,021 |
7 Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
8 Financial commitments, guarantees and contingent liabilities
The Company is maintaining sufficient reserves to have the funds to meet a redundancy cost of £51,648 in the event of the company ceasing.
- 10 -
LAMESLEY CHILDCARE
DETAILED TRADING AND INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2021
| Income Fees Lamesley Fees Oakfeld Fees Harlow Green Fees Kells Lane Fees St John Boste Fees Springwell Fees Lingey House Other income Other operating income Coronavirus job retention scheme grant GMBC Grants Administrative expenses Wages and salaries Employers NI Wages- Casual Staf training Staf pension Rent re operating leases Cleaning Power, light and heat Property repairs and maintenance Premises insurance Leasing - motor vehicles Travelling expenses Professional subscriptions Consultancy fees Accountancy Bank charges Printing and stationery Clothing Costs Toys and games Refreshments Advertising Telecommunications Sundry expenses Depreciation |
2021 £ £ 878 64,400 32,264 80,192 27,975 3,239 21,456 154 230,558 120,151 49,112 169,263 343,973 11,013 1,604 2,131 8,325 17,810 1,401 174 1,644 2,303 4,876 185 697 7,251 1,000 99 5,474 - 3,883 7,741 101 6,186 - 3,366 (431,237) |
2020 £ £ 28,050 131,618 73,271 153,894 59,780 27,370 51,690 260 525,93 3 - - - 380,811 16,224 - 3,855 9,320 19,318 1,509 179 13,491 2,343 3,742 800 2,413 9,254 1,000 472 8,003 684 20,446 16,325 109 7,976 288 3,255 (521,817) |
|---|---|---|
LAMESLEY CHILDCARE
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED) FOR THE YEAR ENDED 31 MARCH
| (CONTINUED)FOR THE YEAR ENDED 31 MARCH | ||
|---|---|---|
| 22 | ||
| 01 Operating (defcit)/surplus (31,416) |
||
| 4,116 |
- 12 -
LAMESLEY CHILDCARE
DETAILED TRADING AND INCOME AND EXPENDITURE ACCOUNT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
| 2021 £ £ Interest receivable and similar income Bank interest received 40 40 (Defcit)/surplus before taxation 13.61% (31,376) |
£ 672 0.91% |
2020 £ 672 |
|---|---|---|
| 4,788 |
Company Registration No. 06228438 (England and Wales)
LAMESLEY CHILDCARE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
LAMESLEY CHILDCARE COMPANY INFORMATION
| Directors | Mrs Joan Alexanders |
|---|---|
| Mrs Tracy Dawson | |
| Christine Kennedy | |
| Secretary | Mrs Joan Alexanders |
| Company number | 06228438 |
| Registered ofce | St Andrews Church |
| Hall | |
| Lamesley Crossroads | |
| Lamesley | |
| Gateshead | |
| NE11 0EU | |
| Accountants | Murray and Lamb |
| 12 Bessemer Court | |
| Hownsgill Industrial | |
| Park | |
| Knitsley Lane | |
| Consett | |
| Co. Durham | |
| DH8 7BL |
LAMESLEY CHILDCARE
CONTENTS
LAMESLEY CHILDCARE
| Page | |
|---|---|
| Directors' report | 1 |
| Accountants' report | 2 |
| Income and expenditure account | 3 |
| Balance sheet | 4 |
| Notes to the fnancial statements | 5 - 8 |
LAMESLEY CHILDCARE
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2021
The directors present their annual report and financial statements for the year ended 31 March 2021.
Principal activities
The principal activity of the company continued to be that of a child care centre.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mrs Joan Alexanders Mrs Tracy Dawson Christine Kennedy
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
By order of the board
..............................
Mrs Joan Alexanders Secretary
Date: .............................................
- 1 -
LAMESLEY CHILDCARE
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LAMESLEY CHILDCARE FOR THE YEAR ENDED 31 MARCH 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lamesley Childcare for the year ended 31 March 2021 set out on pages 3 to 8 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/ members/regulations-standards-and-guidance.
Murray and Lamb ......................... Chartered Accountants 12 Bessemer Court Hownsgill Industrial Park Knitsley Lane Consett Co. Durham DH8 7BL
This report is made solely to the Board of Directors of Lamesley Childcare, as a body, in accordance with the terms of our engagement letter dated 31 March 2008. Our work has been undertaken solely to prepare for your approval the financial statements of Lamesley Childcare a nd state those matters that we have agreed to state to the Board of Directors of Lamesley Childcare, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lamesley Childcare and its Board of Directors as a body, for o ur work or for this report.
It is your duty to ensure that Lamesley Childcare has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, l iabilities, financial position and deficit o f Lamesley Childcare. You consider that Lamesley Childcare is exempt from the statutory audit r equirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Lamesley Childcare. For this reason, we have not verified the accuracy or completeness of the a
- 2 -
LAMESLEY CHILDCARE
ccounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
- 3 -
LAMESLEY CHILDCARE
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2021
| 2021 £ Income 230,558 Administrative expenses (431,237) Other operating income 169,263 Operating (defcit)/surplus (31,416) Interest receivable and similar income 40 (Defcit)/surplus before taxation (31,376) Tax on (defcit)/surplus - (Defcit)/surplus for the fnancial year (31,376) |
2020 £ 525,93 3 (521,81 7) - |
|---|---|
| 4,116 672 |
|
| 4,788 - 4,788 |
- 4 -
LAMESLEY CHILDCARE
BALANCE SHEET
AS AT 31 MARCH 2021
| 2021 | 2020 | 2020 | ||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| Fixed assets | ||||||
| Tangible assets | 4 | 19,073 | 22,439 | |||
| Current assets | ||||||
| Debtors | 5 | 5,994 | 9,881 | |||
| Cash at bank and in hand | 197,251 | 201,905 | ||||
| 203,245 | 211,786 | |||||
| Creditors: amounts falling due | within | |||||
| one year | 6 | (77,490) | (58,021) | |||
| Net current assets | 125,755 | 153,765 | ||||
| Net assets | 144,828 | 176,204 | ||||
| Reserves | ||||||
| Income and expenditure account | 144,828 | 176,204 | ||||
| Members' funds | 144,828 | 176,204 |
For the financial year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
Th e members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on ......................... and are signed on its behalf by:
.............................. Mrs Joan Alexanders Director
- 5 -
LAMESLEY CHILDCARE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies Company Registration No. 06228438
Company information
Lamesley Childcare is a private c ompany limited by guarantee incorporated in England and Wales. T he registered office is St Andrews Church Hall, Lamesley Crossroads, Lamesley, Gateshead, NE11 0EU.
1.1 Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting
Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. M onetary am ounts i n these financial statements are r ounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim it.
1.3 Tangible fixed assets
Tangible fixed assets a re initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
15% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and i s credited or charged to surplus or deficit.
- 6 -
LAMESLEY CHILDCARE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
1.4 Impairment of fixed assets
At each reporting p eriod e nd date, the c ompany r eviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company e stimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5 Cash and cash equivalents
Cash and cash equivalents a re basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
(Continued)
1.6 Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest m ethod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from f ellow group companies and preference shares that are classified as debt, are i nitially recognised at transaction price unless the arrangement constitutes a f inancing transaction, where the debt instrument is measured at the present value of t he future p ayment s discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
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LAMESLEY CHILDCARE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
Debt instruments are subsequently carried at amortised cost, using the effective i nterest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired i n the ordinary course of business from suppliers. Am o unts payable are classified as c urrent liabilities if payment is due within one year or less. If not, they are presented a s noncurrent liabilities. Trade creditors are recognised initially at transaction price a nd subsequently measured at amortised cost using the effective interest method.
1.7 Taxation
The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.
1.8 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9 Leases
Rentals payable under operating leases, i ncluding any lease incentives received, are charged to p rofit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
LAMESLEY CHILDCARE
1 Accounting policies
(Continued)
1.10 Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions i t i s recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2 Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Employees
The average monthly number of persons (including directors) employed by the company during the year was:
| 2021 | 2020 | ||
|---|---|---|---|
| Number | Number | ||
| Total | 35 | 28 | |
| 4 | Tangible fxed assets | Fixture | |
| s, fttings | |||
| & | |||
| equipme | |||
| nt | |||
| Cost | £ | ||
| At 1 April 2020 and 31 March 2021 | 49,639 |
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LAMESLEY CHILDCARE
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED) FOR THE YEAR ENDED 31 MARCH
2021
| Depreciation and impairment At 1 April 2020 Depreciation charged in the year At 31 March 2021 Carrying amount At 31 March 2021 At 31 March 2020 5 Debtors Amounts falling due within one year: Service charges due Other debtors |
27,200 3,366 30,566 19,073 22,439 2021 2020 £ £ (1) - 5,995 9,881 5,994 9,881 |
27,200 3,366 30,566 19,073 22,439 2021 2020 £ £ (1) - 5,995 9,881 5,994 9,881 |
|---|---|---|
| 9,881 |
6 Creditors: amounts falling due within one year
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Bank loans | 50,000 | - |
| Trade creditors | 1,033 | 3,531 |
| Taxation and social security | 5,782 | 12,816 |
| Other creditors | 20,675 | 41,674 |
| 77,490 | 58,021 |
7 Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
8 Financial commitments, guarantees and contingent liabilities
The Company is maintaining sufficient reserves to have the funds to meet a redundancy cost of £51,648 in the event of the company ceasing.
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LAMESLEY CHILDCARE
DETAILED TRADING AND INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2021
| Income Fees Lamesley Fees Oakfeld Fees Harlow Green Fees Kells Lane Fees St John Boste Fees Springwell Fees Lingey House Other income Other operating income Coronavirus job retention scheme grant GMBC Grants Administrative expenses Wages and salaries Employers NI Wages- Casual Staf training Staf pension Rent re operating leases Cleaning Power, light and heat Property repairs and maintenance Premises insurance Leasing - motor vehicles Travelling expenses Professional subscriptions Consultancy fees Accountancy Bank charges Printing and stationery Clothing Costs Toys and games Refreshments Advertising Telecommunications Sundry expenses Depreciation |
2021 £ £ 878 64,400 32,264 80,192 27,975 3,239 21,456 154 230,558 120,151 49,112 169,263 343,973 11,013 1,604 2,131 8,325 17,810 1,401 174 1,644 2,303 4,876 185 697 7,251 1,000 99 5,474 - 3,883 7,741 101 6,186 - 3,366 (431,237) |
2020 £ £ 28,050 131,618 73,271 153,894 59,780 27,370 51,690 260 525,93 3 - - - 380,811 16,224 - 3,855 9,320 19,318 1,509 179 13,491 2,343 3,742 800 2,413 9,254 1,000 472 8,003 684 20,446 16,325 109 7,976 288 3,255 (521,817) |
|---|---|---|
LAMESLEY CHILDCARE
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED) FOR THE YEAR ENDED 31 MARCH
| (CONTINUED)FOR THE YEAR ENDED 31 MARCH | ||
|---|---|---|
| 22 | ||
| 01 Operating (defcit)/surplus (31,416) |
||
| 4,116 |
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LAMESLEY CHILDCARE
DETAILED TRADING AND INCOME AND EXPENDITURE ACCOUNT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
| 2021 £ £ Interest receivable and similar income Bank interest received 40 40 (Defcit)/surplus before taxation 13.61% (31,376) |
£ 672 0.91% |
2020 £ 672 |
|---|---|---|
| 4,788 |