LAMESLEY CHILDCARE Charity number: 1122506 TRUSTEES ANNUAL REPORT 2023
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 - Dealing with the after effects of post COVID19 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 and we have had a major issue to recruit and retain staff due to long term covid. 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 timetables returned to normal hours. We worked closely with all the school’s management teams to ensure that the service we provided was to an excellent standard and partnership working continues.
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 senior 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 ‘Met’ rating from Ofsted when we were inspected in our Harlow Green provision in June 2023 and a ‘Met’ rating for our Kells Lane provision, our Oakfield provision, St John Boste and our Lingey House provision. Our Andrew’s Church Hall holiday provision was rated ‘Met’ and we are awaiting an inspection. We employ 36 staff and 1 volunteer. 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 work and use the service. Those identified as having issues are initially supported by managers who have completed Mental Health in the Workplace, and we now carry out
wellbeing meetings on a regular basis. Those who need additional support are referred to an accredited counselling organisation 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 – 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 who monitor and evaluate finances and to review the vision of Lamesley Childcare.
Trustee signature: C Kennedy
Trustee name: Christine Kennedy
Date: 30.01.2024
**Company Registration No. 06228438 (England and Wales)**
## **LAMESLEY CHILDCARE**
## **UNAUDITED FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED**
**31 MARCH 2023**
12 Bessemer Court Hownsgill Industrial Park Knitsley Lane Consett Co Durham DH8 7BL
## **LAMESLEY CHILDCARE**
## **CONTENTS**
||**Page**|
|---|---|
|Directors' report|1|
|Income and expenditure account|4|
|Balance sheet|3|
|Notes to the financial statements|5 - 8|
|**The following pages do not form part of the financial statements**||
|Accountants' report|2|
|Detailed profit and loss account|9 - 10|
## **LAMESLEY CHILDCARE**
## **DIRECTORS' REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
The directors present their annual report and financial statements for the year ended 31 March 2023.
## **Principal activities**
The principal activity of the company continued to be that of provision of child care facilities.
## **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**
## **REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF LAMESLEY CHILDCARE**
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 March 2023.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet, you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give “a true and fair view”.
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
## **TC Group**
Date:.........................
12 Bessemer Court Hownsgill Industrial Park Knitsley Lane Consett DH8 7BL
- 2 -
## **LAMESLEY CHILDCARE**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2023**_
|**2023**
**Notes**
**£**
**Fixed assets**
Tangible assets
**3**
**Current assets**
Debtors
**4**
5,343
Cash at bank and in hand
227,153
232,496
**Creditors: amounts falling due within one**
**year**
**5**
(109,918)
**Net current assets**
**Net assets**
**Reserves**
Income and expenditure account
**Members' funds**|**2022**
**£**
**£**
10,464
5,207
267,164
272,371
(132,962)
122,578
133,042
133,042
133,042|**£**
12,311
139,409|
|---|---|---|
|||151,720|
|||151,720|
|||151,720|
For the financial year ended 31 March 2023 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.
The 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**
**Company Registration No. 06228438**
- 3 -
## **LAMESLEY CHILDCARE**
## **INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
||**2023**|**2022**|
|---|---|---|
||**£**|**£**|
|**Income**|522,816|482,348|
|Administrative expenses|(547,354)|(485,138)|
|Other operating income|6,500|9,655|
|**Operating (deficit)/surplus**|(18,038)|6,865|
|Interest receivable and similar income|476|27|
|Interest payable and similar expenses|(1,116)|-|
|**(Deficit)/surplus before taxation**|(18,678)|6,892|
|Tax on (deficit)/surplus|-|-|
|**(Deficit)/surplus for the financial year**|(18,678)|6,892|
- 4 -
## **LAMESLEY CHILDCARE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **Company information**
Lamesley Childcare is a private company limited by guarantee incorporated in England and Wales. The 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. Monetary amounts in these financial statements are rounded to the nearest £.
## **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 are 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 is credited or charged to surplus or deficit.
## **1.4 Impairment of fixed assets**
At each reporting period end date, the company reviews 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 estimates the recoverable amount of the cash-generating unit to which the asset belongs.
## **1.5 Cash and cash equivalents**
Cash and cash equivalents are 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.
- 5 -
## **LAMESLEY CHILDCARE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **(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 method 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 fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and 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.
- 6 -
## **LAMESLEY CHILDCARE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.9 Leases**
Rentals payable under operating leases, including any lease incentives received, are charged to profit 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.
## **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 it is 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 Employees**
The average monthly number of persons (including directors) employed by the company during the year was:
|||**2023**|**2022**|
|---|---|---|---|
|||**Number**|**Number**|
||Total|35|35|
|**3**|**Tangible fixed assets**|||
||||**Fixtures, fittings**|
||||**& equipment**|
||||**£**|
||**Cost**|||
||At 1 April 2022 and 31 March 2023||22,645|
||**Depreciation and impairment**|||
||At 1 April 2022||10,334|
||Depreciation charged in the year||1,847|
||At 31 March 2023||12,181|
||**Carrying amount**|||
||At 31 March 2023||10,464|
||At 31 March 2022||12,311|
- 7 -
## **LAMESLEY CHILDCARE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **4 Debtors**
|**Amounts falling due within one year:**
Other debtors
**Creditors: amounts falling due within one year**
Bank loans
Trade creditors
Taxation and social security
Other creditors|**2023**
**£**
5,343
**2023**
**£**
39,980
10,007
7,264
52,667
109,918|**2022**
**£**
5,207|
|---|---|---|
|||**2022**
**£**
50,000
374
5,679
76,909|
|||132,962|
## **5 Creditors: amounts falling due within one year**
## **6 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.
## **7 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.
- 8 -
## **LAMESLEY CHILDCARE**
## **MANAGEMENT INFORMATION**
**FOR THE YEAR ENDED 31 MARCH 2023**
## **LAMESLEY CHILDCARE**
## **DETAILED TRADING AND INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
|**Income**
Fees Lamesley
Fees Oakfield
Fees Harlow Green
Fees Kells Lane
Fees St John Boste
Fees Lingey House
Other income
**Other operating income**
Coronavirus job retention scheme grant
Insurance claims receivable
Sundry income|**£**
-
-
6,500|**2023**
**£**
32,993
131,863
66,307
168,078
57,206
66,369
-
522,816
6,500|**£**
7,155
2,500
-|**2022**
**£**
22,586
132,194
65,295
155,174
51,763
55,284
52|
|---|---|---|---|---|
|||||482,348
9,655|
## **LAMESLEY CHILDCARE**
## **DETAILED TRADING AND INCOME AND EXPENDITURE ACCOUNT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
|**Administrative expenses**
Wages and salaries
Employers NI
Wages- Casual
Staff training
Staff pension
Rent re operating leases
Rates
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
Telecommunications
Depreciation
Profit or loss on sale of tangible assets (non
exceptional)
**Operating (deficit)/surplus**
**Interest receivable and similar income**
Bank interest received
**Interest payable and similar expenses**
Bank interest on loans and overdrafts
**(Deficit)/surplus before taxation**|**2023**
**£**
**£**
399,315
15,200
520
2,279
8,815
31,315
1,194
2,196
1,739
1,203
3,513
5,819
289
682
15,750
1,410
126
6,450
973
15,251
17,713
13,755
1,847
-
(547,354)
(18,038)
476
476
(1,116)
3.57%
(18,678)|**2022**
**£**
**£**
364,012
13,390
2,190
3,749
8,119
26,225
461
283
316
1,783
2,340
4,258
298
567
6,466
1,000
102
3,971
1,413
14,761
13,599
7,488
2,173
6,174
(485,138)
6,865
27
27
-
1.43%
6,892|
|---|---|---|
**Company Registration No. 06228438 (England and Wales)**
## **LAMESLEY CHILDCARE**
## **UNAUDITED FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED**
**31 MARCH 2023**
12 Bessemer Court Hownsgill Industrial Park Knitsley Lane Consett Co Durham DH8 7BL
## **LAMESLEY CHILDCARE**
## **CONTENTS**
||**Page**|
|---|---|
|Directors' report|1|
|Income and expenditure account|4|
|Balance sheet|3|
|Notes to the financial statements|5 - 8|
|**The following pages do not form part of the financial statements**||
|Accountants' report|2|
|Detailed profit and loss account|9 - 10|
## **LAMESLEY CHILDCARE**
## **DIRECTORS' REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
The directors present their annual report and financial statements for the year ended 31 March 2023.
## **Principal activities**
The principal activity of the company continued to be that of provision of child care facilities.
## **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**
## **REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF LAMESLEY CHILDCARE**
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 March 2023.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet, you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give “a true and fair view”.
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
## **TC Group**
Date:.........................
12 Bessemer Court Hownsgill Industrial Park Knitsley Lane Consett DH8 7BL
- 2 -
## **LAMESLEY CHILDCARE**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2023**_
|**2023**
**Notes**
**£**
**Fixed assets**
Tangible assets
**3**
**Current assets**
Debtors
**4**
5,343
Cash at bank and in hand
227,153
232,496
**Creditors: amounts falling due within one**
**year**
**5**
(109,918)
**Net current assets**
**Net assets**
**Reserves**
Income and expenditure account
**Members' funds**|**2022**
**£**
**£**
10,464
5,207
267,164
272,371
(132,962)
122,578
133,042
133,042
133,042|**£**
12,311
139,409|
|---|---|---|
|||151,720|
|||151,720|
|||151,720|
For the financial year ended 31 March 2023 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.
The 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**
**Company Registration No. 06228438**
- 3 -
## **LAMESLEY CHILDCARE**
## **INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
||**2023**|**2022**|
|---|---|---|
||**£**|**£**|
|**Income**|522,816|482,348|
|Administrative expenses|(547,354)|(485,138)|
|Other operating income|6,500|9,655|
|**Operating (deficit)/surplus**|(18,038)|6,865|
|Interest receivable and similar income|476|27|
|Interest payable and similar expenses|(1,116)|-|
|**(Deficit)/surplus before taxation**|(18,678)|6,892|
|Tax on (deficit)/surplus|-|-|
|**(Deficit)/surplus for the financial year**|(18,678)|6,892|
- 4 -
## **LAMESLEY CHILDCARE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **Company information**
Lamesley Childcare is a private company limited by guarantee incorporated in England and Wales. The 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. Monetary amounts in these financial statements are rounded to the nearest £.
## **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 are 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 is credited or charged to surplus or deficit.
## **1.4 Impairment of fixed assets**
At each reporting period end date, the company reviews 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 estimates the recoverable amount of the cash-generating unit to which the asset belongs.
## **1.5 Cash and cash equivalents**
Cash and cash equivalents are 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.
- 5 -
## **LAMESLEY CHILDCARE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **(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 method 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 fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and 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.
- 6 -
## **LAMESLEY CHILDCARE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.9 Leases**
Rentals payable under operating leases, including any lease incentives received, are charged to profit 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.
## **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 it is 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 Employees**
The average monthly number of persons (including directors) employed by the company during the year was:
|||**2023**|**2022**|
|---|---|---|---|
|||**Number**|**Number**|
||Total|35|35|
|**3**|**Tangible fixed assets**|||
||||**Fixtures, fittings**|
||||**& equipment**|
||||**£**|
||**Cost**|||
||At 1 April 2022 and 31 March 2023||22,645|
||**Depreciation and impairment**|||
||At 1 April 2022||10,334|
||Depreciation charged in the year||1,847|
||At 31 March 2023||12,181|
||**Carrying amount**|||
||At 31 March 2023||10,464|
||At 31 March 2022||12,311|
- 7 -
## **LAMESLEY CHILDCARE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **4 Debtors**
|**Amounts falling due within one year:**
Other debtors
**Creditors: amounts falling due within one year**
Bank loans
Trade creditors
Taxation and social security
Other creditors|**2023**
**£**
5,343
**2023**
**£**
39,980
10,007
7,264
52,667
109,918|**2022**
**£**
5,207|
|---|---|---|
|||**2022**
**£**
50,000
374
5,679
76,909|
|||132,962|
## **5 Creditors: amounts falling due within one year**
## **6 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.
## **7 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.
- 8 -
## **LAMESLEY CHILDCARE**
## **MANAGEMENT INFORMATION**
**FOR THE YEAR ENDED 31 MARCH 2023**
## **LAMESLEY CHILDCARE**
## **DETAILED TRADING AND INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
|**Income**
Fees Lamesley
Fees Oakfield
Fees Harlow Green
Fees Kells Lane
Fees St John Boste
Fees Lingey House
Other income
**Other operating income**
Coronavirus job retention scheme grant
Insurance claims receivable
Sundry income|**£**
-
-
6,500|**2023**
**£**
32,993
131,863
66,307
168,078
57,206
66,369
-
522,816
6,500|**£**
7,155
2,500
-|**2022**
**£**
22,586
132,194
65,295
155,174
51,763
55,284
52|
|---|---|---|---|---|
|||||482,348
9,655|
## **LAMESLEY CHILDCARE**
## **DETAILED TRADING AND INCOME AND EXPENDITURE ACCOUNT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
|**Administrative expenses**
Wages and salaries
Employers NI
Wages- Casual
Staff training
Staff pension
Rent re operating leases
Rates
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
Telecommunications
Depreciation
Profit or loss on sale of tangible assets (non
exceptional)
**Operating (deficit)/surplus**
**Interest receivable and similar income**
Bank interest received
**Interest payable and similar expenses**
Bank interest on loans and overdrafts
**(Deficit)/surplus before taxation**|**2023**
**£**
**£**
399,315
15,200
520
2,279
8,815
31,315
1,194
2,196
1,739
1,203
3,513
5,819
289
682
15,750
1,410
126
6,450
973
15,251
17,713
13,755
1,847
-
(547,354)
(18,038)
476
476
(1,116)
3.57%
(18,678)|**2022**
**£**
**£**
364,012
13,390
2,190
3,749
8,119
26,225
461
283
316
1,783
2,340
4,258
298
567
6,466
1,000
102
3,971
1,413
14,761
13,599
7,488
2,173
6,174
(485,138)
6,865
27
27
-
1.43%
6,892|
|---|---|---|