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# SESS **MAGICAL MOMENTS PLAYGROUP** NENTS me ey **Operating as MAGICAL MOMENTS DAYCARE** 

**REPORT OF THE TRUSTEES AND** Saas rea g 7 ge ee 5=Th ‘> \ oF os | — ~ **UNAUDITED FINANCIAL STATEMENTS** ts se” SE 8 Fan Toe oe a fae Sie, Fe **FOR THE YEAR ENDED 31 MARCH 2024** i Te See ERIN ate AS, 

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Holme Farm Vie Spa I ford Newark-on-Trent EDS Nottinghamshire oe a NG23 7HD Fn fs Tel: 01522 778330 a Mobile: 07860 557974 ae aor 

email: andrewsaccounts@btinternet.com 



MAGICAL MOMENTS PLAYGROUP
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page
Legal and administrdtive Inf0rynat￿n
Trustees. report
Independent examinerfs report
Income and expendtture account
Balance sheet
Notes to the financial statements
1Q

MAGICAL MOMENTS PLAYGROUP
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024
Registered charity number
1122943
Officers and trustees
Carrie Greenfield
Sarah Hare
Inga Gvaramadze
Phil Hare
Richarcj Greenfield
Chair
Treasurer
Secretary
Committee Member
Committee Member
Registered office
clo. St Giles Children's Centre
Lamb Gardens
Lincoln
LN2 4EG
Independent examiner
Andrew Ogg LimtEed
Holme Fam
Spalford
Newark-on-Trent
Nottinghamshire
NG23 7HD
Bankers
Santander UK plc
2 Trilon Square
Regent's Place
London
NW1 3AN

MAGICAL MOMENTS PLAYGROUP
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees submit their annual report and the financial slalements for the year ended 31 March
2024. In preparing the annual report and financial statements of the charity, the trustees have
adopted the provision5 of Accounling and Reporting by Charities: Statement of Recommended
Practice. applicable to charities preparing their accounls in accordance wrth the Financial Reporting
Standard applicable to the UK and Republic of Ireuqnd (FRS102) (effective 1 January 2019), published
on 2 October 2019.
Structure, governance and management
Magical Moments Daycare runs by the Pre-school Leaming Alliance Constitution 2008. The setting is
run by a voluntary management committee. The Trustees are appointedlre-elected on an annual
basis. We allow anyone to express an interest in joining the committee throughout the year. If we feel
that we need members. they are invrted to the next meeting. AGM meetings are always advertised
within the setting and we welcome any inlerested parties As a chair I will always meet separately with
prospect members lo ensure that they understand what is involved and whether they are able to meet
the needs. Full safeguarding procedures are followed for committee members with full DBS checks.
No commrttee member is allowed to be in the setting unaccompanied until full confimalion has been
received from Ofsted regarding their suitabiltty. The setting is a member of the Pre-school Leaming
alliance and we are an agreed provider of Early Years Education for Lincolnshire County Council.
The trustees are responsible for preparing the annual report and financial statements in accordance
wrth applicable Lqws and regulations.
Law applicable to thartties in England and Wales requires the trustees to prepare financial statements
for each financial year which grve a true and fair VEW of the chanty's financial activities d uring the year
and of its financial position at the end of the year. In preparing these statements, the trustees are
select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and pnJdent;
prepare the financial statements on the going concem basis unless tt is inappropriate to
presume that the chartty will continue in operation.
The trustees are responsible for keeping accounting records that disclose with reasonable accuracy
the financial position of the charity and wh￿h enable them to ensure that the financial statements
comply with applicable law, regulations, and the Irust deed. They a￿ also responsible for
safeguarding the assets of the charity and hence for taking steps for prevenlion and detection of fraud
The trustees together with the executive committee have made assessments of the major and financial
operating risks that the chaftty faces and have put in place controls to mrtigate or eliminate these rrsks.
They have regular meetings to review the positM)n of the tnjst and the level of reseNes.
Objectives and activities
The aim of the setting is to enhance the development and educalion of children from 6 weeks to 5
yeats by offering appropriate play, education and care facilities along with experiences that otherwise
they may not encounter. We welcome all children regardless of faith. gender. circumstances, disability
or family background. We are an inclusive setting. Children will leam through play and environmenl
that enables us to cover the areas of Early Years Curriculum.
Page 4

MAGICAL MOMENTS PLAYGROUP
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
In explaining how the activrties of the charity rrEet the public benefit of its work, the trustees have met
the requirements of the Charittes Act 2011.
Achievements and performance
We always aim to run on a full roll of children. At the point of April 2023. we had 52 on roll, 32 of
those are funded children of which 12 pay additional top up fees. We had 20 private fee-paying
children on roll. Overall. this was a decrease of 12 children on roll from last year. We had 1 more
funded child topping up fees in comparison to last year.
As of March 2024, we had increased the children on roll to 60 which was an increase of 8 children. 31
Children were funded places and 14 of those topped up their fees which again has increased for us
from 12. We also had 29 fee paying children which has increased by 9 from the start of the financial
year.
By March 2024 we had 13 members of paid staff. 3 of these staff members were completing
apprenticeships. 10 of our staff have full paediatric first aid training and food hygiene certrficates. All
of our staff are on the 6 year safeguarding pathway.
All polices are reviewed on an annual basis and available for anyone to read at any time of the year.
Some of the number5 of children have fluctuated throughout the year. It has not been a consistent
flow. Thi8 is down to many reasons, such as the inability to accept children due to ratio and the cost of
the childcare for parents. We have opted to operate a very flexible approach to sessions so thal we
can meet the needs of the area we are in and working families along with the wrap around facility that
we do with the nursery school next door to us. We have opted to do stretched funding so this can also
accommodale childcare into the school holidays. We have made it our mission to ensure we can offer
the best possible solutions to meet all parental needs. We have ensured that opportunities for pupil
premium children are met wrth separatelsmaller sessions for children with additional needs and also
doing outside activities such as community gardening groups. We hold an annual sports day for all
children and invite parents along. We hold various ￿lebratIonS throughout the year.
Finances
Financially, things have still been a balancing act for this year, although there has been improvement.
We have made a loss this year. which is not the intention of the setting. We have been impacted with
higher staffing costs due to staff having to work extra to cover sickness and staff shortages and having
the factor in the increase of National Minimum Wage, we always aim to pay above the minimum wage
for childcare staff. We have done our best to have some schemes in place to help wrth staff retention
and ensure that staff do feel valued and support wtth any mental health issues. We have been hugely
impacted with the cost of living crisis and with the cost of food being what it is. We strive to keep our
fees as low as possible as we are serving a deprived area.
We have ended the 23124 financial year with a balance in the bank of £25.626. This amount is less
th8n the previous financial year but an irrprovement from the year before. This is due to the of cAre
nsing, the increase in NMW is one of the bKJgest impacts to our business and the huge cost of
groceries to ensure all children receive a hot and nutritious meal and allovts us to continue with the
Healthy Schools Stalus. We try to keep our fee increases to a minimum so that this does impact our
families too much and this decision is taken on an annual basis. We have met all needs of the setting.
Page 5

Reserves
As we are a not-for-profrt organisation, we have a reserve fund held £15.906 at the end of the year.
We are hopeful this wll start to grow again over timè bul also enable us to carry the business
throtsgh diffi¢ull limes. Due lo the larger outgoings this financial year we have not placed any
further funds into the deposit account and we have had to use a sum of £5000 from this account to
see us through. Moving fornvard we should not need to do this. We hold this reserves fund to
enable us lo operate rf there is a drop in income or to see the setting through any form of difficult
time. This can be a¢￿ssed at any time.
ON BEHALF OF THE BOARD:
Carrie
IK(c&[.[
reenfield
Trustee - Chair
27 January 2025
Page

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MAGICAL MOMENTS PLAYGROUP
l ￿pOrt lo the twstees on my examination of the accounts of Magical Moments Playgroup (the Charity) for the
year ended 31 March 2024.
Responsibilities and basis of report
As the chartty trustees of the Charity you are responsible forlhe preparation of the accounts in accordance ￿th
the requirements of the Chartties Act 2011 {'the Act,).
I report in respect of my examinatDn of the Charity's accounts Ca￿led out undef section 145 of the 2011 Act
and in carying out my examinalion I have followed all the applicable Directions given by the Charity Commission
under section 145151{bl of the Act.
Independent examiner's stslement
I have cornpleted my examination. I confinn that no material Matte￿ have come lo my attention in connection
with the examination giving me cause to believe that in any malenal respect..
1. accounting records were not kept in respect of the Charity as required by section 130 of the Act,. or
2. the accounts do not accord wtth those records; or
3. the ac¢ounts do not compty ￿th the applicable requirements conceming the fomi and content of accounts
sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts
give a 'true and fair view which is not a matter considered as part of an independent examination.
I have no cOn￿mS 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 Ihe accounts to be
Andrew Ogg FCA
Director
Andrew Ogg Limited
Chartered Accountants
Holme Fann
Spalford
Newark-on-Trent
Nottinghamshire
NG23 7HD
27 January 2025
Page 7

MAGICAL MOMENTS PLAYGROUP
STATEMENT OF FINANCIAL ACTIVITIES incorporating the
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
INCOME FROM:
Local Authority funding
Private fees
Fundraising
Trips
Other income
Bank interest
124,052
115,178
186
1,451
717
736
123,045
86,887
2,650
1.266
200
170
Totsl income
242,320
214,218
EXPENDITURE ON:
Charitable activities
Slafff costs
Training
Prefflises expenses
Groceries and cleaning supplies
Children's grfts and party rtems
Activity materials and resources
Trips
Repairs and rnaintenance
Voucher scheme
226.745
340
1,575
6.936
427
1,831
510
3.227
1.900
212,643
969
5,953
7,036
524
4.695
1,029
1,246
2,725
243.491
236,820
Raisin
funds
Fundraising
Other costs
Accountancy and independent examination
Telephone
Travel expenses
Advertising and website
Printing and stationery
Bank charges
Other expenses
500
332
149
281
1,239
360
1,818
500
160
201
257
1,819
360
1,240
4.679
4,537
Total expenditure
248,170
241,357
NET INCOMEIIEXPENOITURE)
5,850
Page 8

MAGICAL MOMENTS PLAYGROUP
BALANCE SHEET
AT 31 MARCH 2024
2024
2023
FIXED ASSETS
Note
Tangible assets
CURRENT ASSETS
Bank current account
Pety cash
Bank deposit account
25,626
1.111
15.906
27.040
1.283
20.170
42,643
48,493
CREDITORS
Amounts falling due viithin one year
NET CURRENT ASSETS (LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
5CK)
42,143
47,993
42,143
47.993
NET ASSETS
42,143
47,993
UNRESTRICTED FUNDS
Al 1 April 2023
Nel incorningl(outgoing) resources
TOTAL FUNDS
47,993
(5,8501
75.132
(27.139)
42,143
47,993
These finan￿al statements were approved by the board of trustees on 27 January 2025 and
were signed on its behalf by:
Carrie Greenfield - Chair
Page

MAGICAL MOMENTS PLAYGROUP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES
The principal accounting palicies adopled in the preparation of the financial statements are set out
below and have remained unchanged from the p￿ViouS year. and also have been consistently
applied within the same accounts.
a) Accounting convention
The financial slalemenls have been prePa￿d under the historical cost convention.
bl Incoming resources
All Incoming resources are included on the income and expenditure account when the charity is
legally enlilled lo the income and the amount can be quantified wlh ￿asonable accuracy.
Gifts in kind donated for distribution are included al valuation and recogni%ed as income when
they are distributed lo the projects. Gtfts donated for resale a￿ included as income when they are
sold. Donated facilities a￿ included al the value to the charity where this can be quantrfied and
third party is bearing the cost. No amounts are induded in the financial statements for services
donated by volunteer5.
) Resources expended
All expenditure is accounted for on an accruaL% basis and has been classified under headings that
aggregate all costs related lo the category. ￿ere costs cannol be directly atlribuled lo particular
headings, they have been alk>caled to aclivilies on a basis ￿nSIstent wlh the use of the
resources,
Fund-raising costs are those incuThEd in seeking voluntary contributions and do nol include the
costs of disseminating information in support of the charitable aclivilies. Support costs are those
costs incurred directly in Support of expendrture on the objects of the charity and include project
management carried out by offI￿rS. Management and administration cosls are those incurred in
connection with administration of the charily and Comp1rdn￿ with constrtutional and statutory
requirements.
d) Taxation
The charity is exempt from corporation lax on rts charitsble activrties.
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneratton orother benefits for the years ended 31 March 2023 and 2024.
Trustees. expenses
There were no trustees, expenses paid for the yeats ended 31 March 2023 and 2024.
ULTIMATE CONTROLLING PARTY
The trustees appointed to the rronagement committee control the chaiity.
Page 10