Hoole Enterprise Trust Time For You (HETTY) Company Limited by Guarantee Unaudited Financial Statements 31 August 2023 AGP Chartered Accountants First Floor 2 City Road Chester Cheshire CH1 3AE Hoole Enterprise Trust Time For You (HErrY) Company Limited by Guarantee Flnancial Ststements Year ended 31 August 2023 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements 10 Hoole Enterprise Trust Time For You {HETrY) Company Limited by Guarantoe Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 August 2023 The Iruslees, who are also the director5 for the purposes of company law. present their report and the unaudited financial statements of the company for the year ended 31 August 2023. Reference and administrative details Registered charity name Hoole Enterprise Trust Time For You (HErrY) Charity reglstration number 1122561 Company registration number 06324296 Princlpal offl¢e and reglstered Hoole CE Primary School offlce Hoole Lane Hoole Chester Cheshire CH2 3H8 The Irustees RElnns D Bowes K Jones S Tasker M S Thomas V PanÈgakis (Resigned 24 October 20221 (Appointed 1 February 20231 (Resigned 21 October 2a221 (Resigned 28 January 20231 {Appointed 1 February 20231 Independent exarniner Rachel Palombella FCA AGP Chartered Accountants Sycamore House Sutton Quays Business Park Sutton Weaver Runcorn Cheshire WA7 3EH Hoole Enterprise Trust Time For You (HEThY) Company Limited by Guarantse Trustees. Annual Report (Incorporating the Director's Report) (¢ontinued) Year ended 31 August 2023 Structure, governance and management The Charity is a Company Limited by Guarantee and was incorporated on 25th July 2007 and registered as a Charity on the 1st January 2008. 11 is gtsvemed by Memorandum of Articles of Association. Trustees are normally recruited on a 'word of mouth, and personal reeomrnendalion basis. along with advertising within the local community to look for different skills that can be brought to the charitable company. Trustees will have an induction and be given information lo rea(J so they understand the SF)onsibililies that comes with being a trustee. Due lo unforeseen circumstance5, both Rachel Innes and Sian Thomas resigned. HETfY recruited tsvo new trustee5 Katie Jones and Victona Panagakis The Charity's Trustees oversee the planning and operations of HErrY. When decisions are required to be made the Iruslee5 would look at each action on the agenda and then vole and then go with the majority. In respect of setting levels of remuneration, the HErrY manager Can propose what she feels should be the performance for each member of stsff. For trustees who are remunerated, the other Iruslees set the level of pay. The day to day running of HErrY is managed by Denise Bowes. Denise Bowes is also the OFSTED nominated person. Objectives and activities As one of the main providers of childcare in Hoole, HETfY is commilled to providing affordable, high quality, flexible and inclusive childeare. 11 is important to us that we are able lo offer a truly accessible service offering support to all families and children who need our service. As we are a charity, we ty lo keep our prices low which allows our parents to continue lo work. In our most recent OFSTED which look place on 9th November 2022 unfortunately we had 8 judgernenl of inadequate" this was a very upsetting and worrying lime. Denise Bowes did challenge thejudgemenl but unfortunately they only changed some ofthe wording in the report. The main factor5 being the deputy manager and teacher were both on long-term sickness and four stsff were also off sick on that day, we had agency staff one of which was a qualified teacher. Denise Bowes mel with parents to reassure and go through the report. On 5 May 2023, we had another Ofsted inspection and the judgement was "good The charity has a close working relationship with Hoole C of E Primary School with which we share a site. The premises from which we operate lend themselves to an abundan￿ of play opportunities that are totally accessible lo all children between the ages of 2 and 11 year olds Security is priority within our setting, however, families are welcomed and encouraged to visit our friendly environment. The Charity reviews its aims, objectives and activities each year ensuring they remain focused on the slated purpose of the charity. The Trustees refer to the guidan￿ given by the Charity Commissions on the public benefit during this process and assess how successful each activity has been and what benefits have been brought lo the group5 of people the charity is Sel up lo help. Hoole Enterprise Trust Time For You {HETTY) Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (Continued) Year ended 31 August 2023 Achlevements and performance Some of the services that are currently available from HETfY include-. HErrY Nursery offers childcare for 2 to 4 years. We are currently using 'Rocket room. in school for a further 17-19 children as a pre-school. This is to enable school readiness and support transition. HETrY claims the 1&hour and 30-hour Nursery Educational Grant. HETfY currently employs 20 staff. HErrY Before After and Holida School HETfY offers wrap around care in Hoole C of E Primary School, we also offer holiday care when viable to continue to offer affordable care over the holidays a discount is applied to help support families and keep HErrY in line with other competitors who offer much cheaper day rates. Financial revlew In the year ending 2022123, the charity's outgoing resources exceeded its incoming resources by £66.194, decreasing reserves lo £265,470 all of which are classed as unrestricted. It is the policy of the Trustees lo build up unrestricted reserves sufficient to provide working capital lo enable the core activities of the company to continue in the event of a significant drop in funding lo enable contracted commitments to be met. Due to overspending we do realise there is a deficit of funds this year. however, we have a plan of action to sustain a business going forward. Internal control and risk management During the year, the Iruslees have examined the major risks that the charity is exposed lo in terms of its governance and management, external relationships. Internal controls and finanees. Systems have been established and are regularly reviewed to mitigate those risks. Hoole Enterprise Trust Time For You (HETTY) Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (tonUrtu8dJ Year ended 31 August 2023 Plans for future periods Development plans for 2024 10 2025 are.. Monitor the new 2 year working funding which will increase in September 24 10 30 hours not 15. We may have lo reduce the work force. To increase fees in September 2024 for both Nursey and wrap around care. Keep the business on a sound financial footing. To look at the 30-hours funding and continue to monitor the funding whi¢h could mean having children to capacity. To look at the salary and overtime budget due to the increase of minimum wage being significantly higher than previous year. Continue lo offer quality, affordable childcare. To continue to offer a mix of education and care to meet the needs of families in a flexible way. Encourage new families to access existing and new services. To be more involved in the Hoole community. To keep our prices affordable and rnuch lower than our competitors. To iricrease numbers in both schools wrap around care. The measures we will use to tell whether we are achieving these outcomes will be.. To continue lo follow the guidance and updates by the Govemment but Still lo offer this at a high standard. Continue to strive achieve good OFSTED. Develop a prO￿8S fr)r evaluating best practice across a ftnge of activities to ensure quality of service. Regularly review the curriculum and care plan lo support achievement of targets in the improvement plan. Comparison of our performance with other similar settings. Increase in numbers of children recruited and on waiting lists lo access service. The evidence we will be able lo provide to demonstrate this is.. OFSTED feedback. Informal meetings with Iruslees. Monthly review report. Register of places filled. Robust accounting systems. Parenlslstaff questionnai￿. Going concern There are no material un¢ertainlies about the charity's ability lo continue. Small company provislons This report has been prepared in accordance with the provisions applicable lo companies entitled to the small companies exemption. (cont i nued) ## Hoole Enterprise Trust Time For You (HETTY) ## Company Limited by Guarantee ## Trustees' Annual Report (Incorporatng the Director's Report) ## Year ended 31 August 2023 The trustees' annual report was approved on 2 1 May 2024 and signed on behalf of the board of trustees by: D Bowes Trustee 5 Hoole Enterprise Trust Time For You (HErrY) Company Limited by Guarantee Independent Examiner's Report to the Trustses of Hoole Enterprise Trust Time For You {HETTY) Year ended 31 August 2023 I report lo the trustees on my examination of the financial statements of Hoole Enterprise Trust Time For You IHETfYi I'lhe company'} for the year ended 31 August 2023. Responsibilitles and basi5 of report As the trustee5 Of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the finanoial statements in accordance with the requirements of the Companies Act 20061'lhe 2006 ACVI. Having Satisfied myself that the accounts of the company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent exarnination, I report in respect of my examination of the company's accounts as carried out under section 145 of the Charities Act 20111'lhe 2011 Act'l. In arrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner's statement Since the company's gross income exceeded £250,000 your examiner rnust be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales IICAEW), which is one of the listed bodie5. I have completed my examination. I confirm that no matters have come to my attention in connecbon with the examination giving me cause to believe". accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act,. or the financial slalements do not accord with those records., or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'lrue and fairf view which is not a matter considered as part of an independent examination.. or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. ## Hoole Enterprise Trust Time For You (HETTY) Company Limited by Guarantee Independent Examiner's Report to the Trustees of Hoole Enterprise Trust Time For You (HETTY) (cont i nued) ## Year ended 31 August 2023 I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ## ott Rachel Palombella FCA Independent Examiner AGP Chartered Accountants Sycamore House Sutton Quays Business Park Sutton Weaver Runcorn Cheshire WA73EH 21 May 2024 7 Hoole Enterprise Trust Time For You (HETTY) Company Limited by Guarantse Statement of Financial Activities (including income and expenditure account) Year ended 31 August 2023 2023 Unrestricted fund5 Totsl funds 2022 Total funds Note Income and endowment$ Charitable activibes Other income Investment income 211,598 233,737 2,168 211,598 233,737 2,168 240,212 242,832 94 Total incorne 447,503 447,503 483,138 Expenditure Expenditure on charitable aclivilie$ Total expenditur¢ 513,697 513,697 448,597 513,697 513,697 448,597 Net lexpenditure)lincomo and net movement in funds 166,1941 166, 194) 34.541 Reconciliation of funds Total funds brought forward Total funds ¢arrled forward 331,664 331,664 297,123 331,664 265,470 265,470 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on page¥ 10 to 16 fomi part of thesè finan¢ial statements. ## Hoole Enterprise Trust Time For You (HETTY) ## Company Limited by Guarantee ## Statement of Financial Positon ## 31 August 2023 |||2023|2022| |---|---|---|---| ||Note|£|| |Current assets|||| |Cash at bank and in hand||275,332|341,559| |Creditors: amounts falling due within one year|13|9,862|9,895| |Net current assets||265,470|331,664| |Total assets less current liabilities||265,470|331,664| |Net assets||265,470|331,664| |Funds of the charity|||| |Unrestricted funds||265,470|331,664| |Total charity funds|15|265,470|331,664| For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities: - 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; - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. These financial statements were approved by the board of trustees and authorised for issue on 21 May 2024, and are signed on behalf of the board by: D Bowes Trustee The notes on pages 10 to 16 form part of these fnancial statements. 9 Hoole Enterprise Trust Time For You (HErrY) Company Limitsd by Guarantee Notes to the Financial Statements Year ended 31 August 2023 General information The company is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Hoole CE Primary School, Hoole Lane, Hoole, Chester, Cheshire, CH2 3HB. Statement of compllan¢e These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland.. the Ststemenl 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 1021 (Charities SORP IFRS 10211 and the Companies Act 2006. Accounting policies Basis of prgparation The financial statements have been prepared on the historical cost basis, as modified by the revalLJation of certain financial assets and liabilities and investment properties measured al fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no materFal uncertaintie5 about the charity's ability to continue. Judgements and key sources of estimation un¢ertalnty The preparation of the financial stslements requires management to make judgements. estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectation5 Of future events that are believed lo be reasonable under the circumstances. Taxation The company is a registered charity and as such is exempl from Income and Corpoolion taxes under the provision of the Income and Corporation Taxes Act 1988. The cost of value added tax incurred by the company has been included in the SOFA. 10 Hoole Enterprise Trust Time For You (HETTY) Company Limitad by Guarantee Notes to the Financial Statements (conwnued) Year ended 31 August 2023 Accounting pollcies (¢ontinued) Fund accountlng Unreslricled funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected lo restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds. Incorning resources Ail incoming resources are included in the statement of financial ackn'vities when entillemenl has passed to the charity-, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following spe¢ifi¢ policie5 are applied lo particular categories of income- income from donations or grants is recognised when there is evidence of entitlement lo the gift. re￿Ipl is probable and ils amount can be measured reliably. legacy income is recognised when receipt is probable and entittemenl is established. income from donated goods is measured al the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from ¢onlracts for the supply of services is recognised wrth the delivery of the contracted service. This is classified as unrestricted funds Ltnless there is a conlraclual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 11 Hoole Enterprise Trust Time For You (HETTY) Company Limited by Guarantee Notes to the Financial Statements (¢ontinu¢dJ Year ended 31 August 2023 Accounting policies (continued) Rgsources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which rt relates". expenditure on raising funds includes the costs of all fundraising aclivibes, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs in¢urred by a charity in undertaking activities that further ils charitable aims for the benefit of ils beneficiaries, including those support costs and costs relating to the govemance of the charity apportioned to charitable aclivilies. other expenditure includes 811 expenditure that is neither related lo raising funds for the charity nor part of its expenditure on chari18ble activities. All costs are allocated to expenditure categories ieflecting the use of the resource. Direct costs attributable lo a single activity a￿ allocated directly lo that activity. Shared costs are apportioned between the activities they contribute to on 8 reasonable, justifiable and consislenl basis. Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially re¢ognised at transaction value and subsequently measured at the carrying value. Fixed assets Fixed assets are fully written off in the year of purchase. No value is attributed tr) any fixed assets in the Balance Sheet as at the yeaf end date. Defined contribution plans Contributions lo defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly wrthin 12 months of the end of the reFK)rting date in which the employees render the related service. the liability Is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. 12 Hoole Enterprise Trust Time For You (HETrY) Company Limited by Guarantse Notes to the Financial Statements {conttnue(lJ Year ended 31 August 2023 Creditors Creditors and provisions are re¢ogni5ed where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third paty and the amount due lo settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised al their settlement amount after allowing for any trade discounts due. Llmited by guarantee The charitable company is limited by guarantee and does not have share capital. The liability of the members is limited in the event of the charitable company being wound up to such amount as may be required not exceeding one pound. Charltable activities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Local authority grants Other income from charitsble activities 211,598 211,598 228,620 11,592 228,620 11,592 240,212 211,598 211,598 240,212 Other income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 School club income 233,737 233.737 242.832 242,832 Investment income Unrestricted Total Funds Unrestricted Total Fund5 Funds 2023 Funds 2022 Bank interest receivable 2,168 2,168 94 94 Expenditure on charitable aclivities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Provision of services and training Support costs 511,477 2.220 511,477 2,220 513.697 446,377 2,220 448,597 446,377 2,220 513.697 448,597 13 Hoole Enterprise Trust Time For You (HErrY) Company Limited by Guarantee Notes to the Financial Ststements (continu8d) Year ended 31 August 2023 Expenditure on eharitsblg activities by activity type Activities undertaken directly Support Total funds costs 2023 Total fund 2022 Provision of services and training Governance costs 511,477 511.477 2,220 513,697 446,377 2,220 2,220 2,220 511,477 448,597 10. Indepgndont gxarnination fees 2023 2022 Fees payable to the independent examiner for.. Independent exarninalion of the financial slalements 2,220 2,220 11. Particulars of employees staff costs and emoluments The total staff costs and employee benefits for the reporting period are 8n8lysed as follows.. 2023 2022 Wages and salaries Social security costs Employer contributions lo pension plans 374,450 24,308 7,600 406.358 343,008 20,085 6,619 369,712 The average head count of employees during the year was 1812022.. 241. The average number of full-time equivalent employees during the year is analysed as follows". 2023 No. 2022 No. Number of staff 18 20 No employee received employee benefits of more than £60,000 during the year12022". Nil). 12. Trustee remuneration and expenses Due to Ofsted requirements, Mrs D Bowes was appointed a Trustee in a prior year. Mrs Bowes is also the manager responsible for the day to day running of the charitable company. for which she receives a remuneration. During the year this was £41,513 12022.. £40,876) and pension contributions of £1,054 {2022'. £1.037). No expenses were paid to the Trustees during the current or previous year. 14 Hoole Enterprise Trust Time For You {HErrY) Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 August 2023 13. Credltors: amounts falling due wlthin one year 2023 2022 Trade creditors Accruals and deferred income Social security and other taxes 75 4,416 5,404 4,452 5,410 9,862 9,895 14. Pensions and othor post retiremgnt beneflts The company operates a defined contribution pension scheme and the pension charge of £7,600 {2022.' £6.6191 represents the amount payable by the company to the fund in respect of the year. At the balance sheet date there is an amount of £nil12022.. £nill outstanding to be paid. 15. Analysi$ of charitable funds Unrestricted funds At1Sep22 Income Expenditure At 31 Aug 23 General funds 331,664 447,503 1513,6971 265,470 At1Sep21 Income Expenditure At 31 Aug 22 General fvnds 297.123 483.138 1448,5971 331,$64 16. Analysis of net asse1$ between funds Unrestricted Total Funds Funds 2023 Current Assets Creditors less than 1 year Ngt assets 275,332 {9,8621 265,470 275,332 19.8621 265,470 Unrestricted Total Funds Funds 2022 Current Assets Creditors less than 1 year Net assets 341,559 19,895} 331,664 341,559 19,8951 331,664 15 Hoole Enterprise Trust Time For You (HETTY) Company Limited by Guarantse Notes to the Financial Statements (contlnued) Year end8d 31 August 2023 17. Related partles Any connection5 between a Iruslee of the charity must be disclosed lo the full board of trustees. No transactions with related parties were undertaken such as are required to be disclosed. 16