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2023-03-31-accounts

ST. AGNES DAY NURSERY (Registered Charity and Company Limited by Guarantee)

Report and Financial Statements For the Year Ended 31 March 2023

Charity number 1124178 Company number 06570853

School House, Rosedale Road, Crawcrook, RYTON, Tyne & Wear, NE40 4UN Telephone (0191) 413 4822

Contents

REFERENCE AND ADMINISTRATIVE INFORMATION ............................................................. .1 MANAGEMENT REPORT .................................................................................................................. .2 STRUCTURE, GOVERNANCE AND MANAGEMENT .................................................................................. .2 Governing Document ...................................................................................................................... .2 Organisational Structure ................................................................................................................ .2 Related Parties ................................................................................................................................ .2 Recruitment and Appointment of Directors..................................................................................... .3 Induction and Training of Directors ............................................................................................... .3 Risk Management ............................................................................................................................ .3 AIMS, OBJECTIVES AND ACTIVITIES .....................................................................................................4. Aims ................................................................................................................................................ .4 Objectives ........................................................................................................................................ .4 Activities .......................................................................................................................................... .5 FINANCIAL REVIEW .............................................................................................................................. .7 Principle Funding Sources .............................................................................................................. .7 Approach to Reserves (Maintenance Fund) .................................................................................... .8 Responsibilities of the Directors ................................................................................................... ..8 Members of the Board of Directors............................................................................................... ..8 Independent Examiners ............................................................................................................ ..9,10 STATEMENT OF FINANCIAL ACTIVITIES ................................................................................. 11 BALANCE SHEET .............................................................................................................................. 12 NOTES FORMING PART OF THE FINANCIAL STATEMENTS ............................................................. 13 - 18

Reference and Administrative Information

Charity Name: St Agnes Day Nursery Charity Registration Number: 1124178 Company Registration Number: 06570853

Registered Office and Operational Address: School House, Rosedale Road

Crawcrook, RYTON, Tyne & Wear, NE40 4UN

Board of Directors

Mrs C F McDermott Chair Mrs I Arce Garcia Secretary Mrs L Madl Treasurer Mrs Victoria Dodds Mrs Lynne Henderson-Lowe Mrs D J Davies Senior Management Team Mrs D J Davies Nursery Manager and Director Mrs Joanne Jeavens Deputy Manager Independent Examiners Douglas Maltman Connected Voice Charity Business Services One Strawberry Lane Newcastle upon Tyne NE1 4BX Bankers Lloyds Bank, Front Street, WHICKHAM NE16 4DS

1

Management Report

Structure, Governance and Management

Governing Document

St Agnes Day Nursery is a charitable company limited by guarantee, incorporated on 20 April 2008 and registered as a charity on 21 May 2008. The company was established under a Memorandum of Association, which sets out the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Organisational Structure

----- Start of picture text -----
Board of Directors, including Nursery Manager
↓
Deputy Nursery Manager
Nursery Practitioners
Playworkers
Volunteer Helpers
----- End of picture text -----

The organisation currently has six Directors on the Board, who meet approximately four times annually and are responsible for the strategic direction and policy of the Nursery. The Nursery Manager is a member of the Board of Directors, but for matters that relate directly to her role, the Nursery Manager is invited to sit out and voting rights are withheld.

Day to day responsibility for the provision and operational management of the Nursery services rests with the Nursery Manager, who also takes responsibility for supervision of the staff and for ensuring continuous professional development of herself and all other practitioners to ensure continuous improvement of skills and working practices.

Related Parties

St Agnes Day Nursery began as a playgroup more than forty years ago, supported by St Agnes RC Church and operating on premises provided by the church. The playgroup grew and evolved into a Day Nursery and in 2008 the Nursery became a Registered Charity and a Company Limited by Guarantee. The Nursery has a close affiliation with St Agnes RC Primary School, as the premises are sited on land adjacent to the school and rented from the Bishop Wilkinson Trust. The Nursery maintains a close working relationship with the Headteacher of St Agnes RC Primary School and acts as the primary ‘feeder’ nursery for this school. However, attendance at the Nursery does not automatically entitle children to a place at the school; please refer to the Admissions Policy for the school.

The Nursery is registered with Ofsted and guided by the Early Years Foundation Stage framework on matters of policy and procedure, and by Gateshead Council on matters of funding. The Nursery is a member of the National Day Nurseries Association (NDNA).

2

Recruitment and Appointment of Directors

The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as directors. Under the requirements of the Memorandum and Articles of Association, the directors are not subject to retirement by rotation. All members of the Board of Directors give their time voluntarily and receive no benefits from the charity.

The Board of Directors intends to reflect in its representation the needs of the nursery, and consequently three of the Directors are parents of children attending the nursery or the breakfast and after-school club facilities. Mrs D Davies, our Nursery Manager, as a Board Director, represents the nursery staff. The Board of Directors aims to maintain a good mix of skills and abilities and membership is not limited to parents of children attending the nursery. Currently, Directors have a wide and varied range of experience from childcare and teaching, administration, risk management, marketing, and accountancy.

Induction and Training of Directors

Most directors are already familiar with the practical work of the nursery, as parents of children attending either the nursery or the breakfast or after-school club facilities. As a small organisation, there are no formal induction procedures for directors. However, new directors are encouraged to read the Memorandum and Articles of Association and the Nursery Operational Plan, which includes policy and procedure documents on:

In addition, all Directors must undergo enhanced DBS and Ofsted clearance before taking up their roles. A summary of the roles and objectives of Charity Trustees and Board Directors is available for new directors to familiarise themselves with, and new appointees are directed to the Charity Commission website for further information.

Risk Management

The Board of Directors currently reviews risk as a part of its regular board meetings throughout the year. The Board of Directors have identified external risks to income as the nursery grant income alone does not cover all expenditure. The long-term security of the nursery premises depends in part on the relationship with our neighbouring school, St Agnes RC Primary School. Risks are mitigated in part by the Nursery working with the local Council to help secure grants and funding and by close cooperation with the neighbouring school and with the Local Education Authority. Internal control risks are minimised through Nursery Policies and Procedures. The financial risks to the nursery caused by the Covid 19 pandemic and its aftereffects were minimised due to reserves being set aside from surpluses gained in previous years.

3

Aims, Objectives & Activities

Aims

In line with the Charities Act, the Nursery’s aims demonstrate that for the charitable purposes of the advancement of education, St Agnes Day Nursery acts in the public benefit.

As stated in the Nursery’s Memorandum of Association, the object of the nursery is to advance the education of children both of pre-school and school age by providing for the daily care, recreation and/or educational opportunities of children.

The Nursery’s aims, listed below, are also set out in a printed and electronic information booklet, available to all parents and prospective users of Nursery services.

Objectives

To continue to provide inclusive high quality Nursery Education within the Early Years Foundation Stage, where children learn through play within a broad, balanced, flexible curriculum, which caters for the individual needs of each child.

To continue to provide a wrap-around care service to pre-school and school-age children, thus enabling their parents and carers to go to work, knowing their children are well cared for by qualified, caring staff in a safe, secure and stimulating environment.

To increase the quality of provision within the nursery, by providing training opportunities for all practitioners to ensure continuous professional development, and to ensure all practitioners are working towards, or qualified to, at least Level 3.

To ensure the Nursery is managed by a Graduate Early Years Professional in line with the Government’s aims.

To continue to provide opportunities within the community through offering training placements for young people studying for childcare qualifications in conjunction with local schools and colleges.

4

To secure sufficient grants and/or funding to supplement the income generated from nursery fees, to cover nursery expenditure and therefore safeguard the day-to-day operation of the nursery.

To continuously analyse and reflect on practice, following the excellent achievement of the NDNA’s e-Quality Counts Award at Level 3, thus constantly improving provision within the Nursery.

Activities and Achievements

The Nursery’s charitable activities focus on the care and education of children of pre-school and school age and are undertaken to further our charitable purposes for the public benefit. In order to meet the above objectives, the Nursery undertook a range of activities.

St Agnes Day Nursery operates as a nursery providing education and childcare for children from the age of three years to school age and offering out-of-hours childcare in the form of Breakfast Club, After School Club and Holiday Club for children aged from 3 to 11.

In January 2023, the Nursery’s premises were inspected by Ofsted and judged as being Good. The Nursery continues to reflect on practice and undertakes frequent and regular audits of practice and policies in order to maintain very high standards and to continually improve.

The Nursery continues to provide education and care within the EYFS, providing a broad and balanced curriculum geared to the needs of each individual child. Every child is allocated a key-person, responsible for observing, assessing and recording their progress, and for planning activities to meet the child’s interests and needs. A stimulating, enabling indoor and outdoor environment is provided to encourage learning through play. Funds from previous surpluses are invested in exciting and stimulating new resources and furniture to be used by the children. Surplus funds are also used to enhance the appearance and safety of the environment; for example by regular maintenance and painting and decoration of the interior of the Nursery to provide a fresh, clean, welcoming and hygienic environment. This year some of the reserve funds were used to renew the gas central heating boiler for the safety and comfort of the children and staff.

We continue to work closely with professionals from the local authority to ensure that inclusive care and education is provided for children with special needs and disabilities. Nursery and holiday club places are provided for children referred by the local authority for socially deprived families, for children in need, or for children of parents requiring respite care.

The Nursery continues to provide a wrap-around care service for working parents by means of breakfast club and after-school club for children from St Agnes RC Primary School. The nursery also operates a holiday club during the summer and Easter holidays and during shorter half term holidays, with the exception of the Christmas period. This service is normally available to parents of all children aged between 3 and 10 from any school and accommodates children from schools further afield in areas such as Greenside, Newcastle, Prudhoe and Blaydon.

The Nursery Manager holds Early Years Professional Status together with a Post Graduate Certificate in Early Years Practice at Level 7, thus fulfilling the Government’s aim to have an Early Years Professional in every full day care setting. The Nursery also employs another Qualified Teacher and one other graduate practitioner.

5

To supplement the main sources of funding, the nursery undertakes fundraising activities such as raffles at Christmas time and a photographer. The Directors review fundraising events on a regular basis.

The Nursery makes use of volunteer helpers in the form of parent helpers and students on training placements from local schools, colleges and universities. Some volunteer helpers work as nursery assistants, following the Nursery’s Early Years Foundation Stage (EYFS) planning, carrying out activities such as arts and crafts or board games, supporting children’s play, preparing snacks, and clearing away after meals and activities. Their support is of significant value to the running of the nursery, by helping to ensure a larger ratio of staff to children and enabling the higher qualified staff to spend quality teaching time with small groups or individual children. Students and volunteer staff provide a fresh outlook and new ideas as they come from diverse age groups and backgrounds. The benefits are two-fold as the students receive training while the Nursery provides them with placements to enable them to work towards vocational childcare and social care qualifications.

The nursery has grown from a playgroup over 40 years ago, to a full time “wrap-around” care provider for a total number of 78 children, 5 days a week. In previous years, pre-Covid restrictions, this number had been up to 90 per week and numbers are slowly returning to the higher levels of attendance. This increase and growth in the nature of the business led to the Nursery’s change of status in 2008 from an Unincorporated Association to a Registered Charity and a Company Limited by Guarantee to protect the interests of the nursery and the Board of Directors.

The Nursery continues to work in conjunction with other professionals from the Gateshead Council Early Years team, such as Special Needs Advisory teachers who advise on inclusion; and Development Officers, who provide advice and guidance on continual improvements and maintaining the high standards demanded by Ofsted and the Early Years Foundation Stage requirements. The Nursery works in conjunction with head teachers from local schools such as St Agnes RC Primary School and Emmaville Primary School to ensure smooth transitions for pupils from Nursery to Primary school.

All Nursery staff regularly receive training in First Aid, Food Safety, and Safeguarding of children, in addition to continuous further professional development. Every member of staff is qualified in Paediatric First Aid, which is renewed every 3 years. All staff are encouraged and supported to work towards their Level 3 Qualifications and beyond.

6

Financial Review

These financial statements are for a twelve month period from 1 April 2022 to 31 March 2023.

Principal Funding Sources

The Nursery’s principal income is from Government Grants and fees from parents for Nursery sessions and Out of School wraparound care. Each year the Nursery receives a Nursery Education grant to cover the costs of funded childcare places, which are free of charge to parents taking up to 15 hours per week. The Nursery offers the Government’s thirty hours of funded sessions in a very flexible manner, allowing parents to access funded wraparound care for up to 10 hours per day. To enable us to apply this flexibility, a small supplementary charge for meals and specialist resources is made to parents accessing 30 hours of funding, as the Government’s hourly funding rates are lower than our actual hourly costs. During the enforced lockdowns in 2021 Nursery attendance and associated grant income reduced considerably. The grant income is now returning to pre-covid levels as demonstrated by the £18K increase shown in the accounts.

For the year ending 31[st] March 2023, the nursery received £109,578 in grants to cover funded places for 28 children between 3 and 5 years old. This made up the bulk of the Nursery’s income, together with fees totalling £58,883. The out of school club income of £51,270 has begun to return to pre-covid levels as parents returned to working away from home. This trend is contributing to the nursery’s sustainability for the future.

The use of 30 hour funded sessions for three and four year olds has meant that parents are seldom having to pay for nursery sessions. The additional fee income was greatly reduced by the effects of the pandemic as parents worked from home and reduced their children’s nursery attendance times. This fee income has begun to return to higher levels this year, increasing from £6,675 in 2022 to £7,613 in 2023. With the enforced 6.6% increase in the national living wage in April 2022, wages increased by over £8,000 up to March 2023, contributing to the Nursery’s deficit this year. Although the Nursery has sustained a deficit of £5,253 this year, this is a great improvement on the previous year’s deficit of £17,494 and reserves maintained from previous years’ surpluses still remain sufficient to maintain the nursery’s sustainability. Bookings for wraparound care in 2022/2023 have increased to a much higher level. Attendance and income have begun to increase overall and despite the deficit for the financial year ending 31[st] March 2023, the Nursery holds sufficient reserves to remain sustainable for the foreseeable future.

Looking ahead, we anticipate remaining sustainable as Grant income for three and four year olds remains constant, with funding increases imminent. Attendance at nursery and wraparound care is continuing to increase to more usual levels. The nursery has an operational plan in place to cover changes in Government guidance and retains substantial reserves to remain a going concern for the foreseeable future.

7

Approach to Reserves (Designated Funds)

Some years ago, a Maintenance Fund was set up to cover the costs of annual repairs and maintenance of the Nursery premises. Around half of the total company reserves are allocated to this restricted Fund and are placed on deposit for the forthcoming year. The total amount is held as contingency for essential repairs and maintenance to the premises, and for the future operation of the Charity. Any surplus made during each year is either maintained in the nursery accounts for future contingencies such as repairs and refurbishment or some surplus funds are put back into the nursery for the good of the children attending. This year some of the reserves (£2,044) were used to renew the gas boiler, and additional funds were drawn upon to maintain the Nursery as a going concern and to assist with our sustainability. Any funds used were to maintain the continuity of the charity’s business.

Responsibilities of the Directors

Company law requires the Board of Directors to prepare financial statements for each financial year, which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure for the financial year. In preparing those financial statements, the Board of Directors should follow best practice and:

The Board of Directors is responsible for maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 1985.

Members of the Board of Directors

Members of the Board of Directors, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 2.

In accordance with company law, as the company’s directors, we certify that:

8

Independent Examiners

Connected Voice, Business Charity Services (formally called Ellison Services), One Strawberry Lane, Newcastle upon Tyne, NE1 4BX were appointed as the charitable company’s independent examiners on 13 September 2010.

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities – Statement of Recommended Practice (issued in March 2005).

Approved by the Board of Directors on 12.12.2023

and signed on its behalf by:

.C McDernott ................................................. (Chair)........................................................ ....

.L Madi (Treasurer)......................................... ..................... ...............................

9

ST.AGNES DAY NURSERY

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

For the year ended 31 March 2023

I report on the financial statements of St Agnes Day Nursery for the year ended 31 March 2023.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 ("the Charities Act) and that an independent examination is needed.

The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a Fellow of the Association of Charity Independent Examiners.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

I 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.

Doug Maltman FMAAT Connected Voice Charity Business Services Higham House Higham Place Newcastle upon Tyne NE1 8AF Date: 12.12.2023

10

ST.AGNES DAY NURSERY

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING SUMMARY INCOME & EXPENDITURE ACCOUNT)

For the year ended 31 March 2023

----- Start of picture text -----
Unrestricted Designated Total Total
Funds Funds 2023 2022
£ £ £ £
Income from:
Donations and legacies 5 272 - 272 201
Charitable activities
Grants and contracts 6 109,731 - 109,731 109,011
Other trading activities 7 61,860 - 61,860 47,164
Investments 8 514 - 514 1,129
Total income 172,377 - 172,377 157,505
Expenditure on:
Raising funds 9 286 - 286 799
Charitable activities
Operation of the charity 10 172,431 4,913 177,344 174,200
Total expenditure 172,717 4,913 177,630 174,999
Net income/(expenditure) and net
( 340 ) ( 4,913 ) ( 5,253 ) ( 17,494 )
movement of funds
Reconciliation of funds
Total funds brought forward 96,044 78,838 174,882 192,376
Total funds carried forward 95,704 73,925 169,629 174,882
Notes
----- End of picture text -----

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 pages 12 to 19 form an integral part of these accounts.

11

Charity Number 1124178 Company Number 06570853

ST.AGNES DAY NURSERY

(A company limited by guarantee)

BALANCE SHEET

As at 31 March 2023

----- Start of picture text -----
Total Total
2023 2022
£ £ £ £
Current assets
Debtors 17 7,178 7,278
Cash at bank and in hand 18 164,013 170,550
Total current assets 171,191 177,828
Creditors: amounts falling due within
one year 19 ( 1,562 ) ( 2,946 )
Net current assets 169,629 174,882
Total net assets or liabilities 169,629 174,882
Funds of the charity
Unrestricted income funds 95,704 96,044
Restricted income funds 73,925 78,838
Total funds 169,629 174,882
Notes
----- End of picture text -----

The company was entitled to an exemption from audit under s477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with the respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.

The notes on pages 12 to 19 form an integral part of these accounts.

These financial statements were approved by the Board on: 12.12.2023

and are signed on its behalf by:

Mrs C F McDermott Chair

12

ST.AGNES DAY NURSERY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2023

Analysis of income
5
Donations and legacies
6
Charitable activities
Income from grants
7
Other trading activities
Breakfast Club
Nursery snack money
8
Income from investments
University Trainee
Other fees
Bank interest
Donations and gifts
Holiday Club
After School Club
Gateshead Metropolitan Borough Council
Uniforms
Department of Health - Milk funding
HMRC - Job Retention Scheme Grant
Nursery
Gateshead MBC - Business Support Grant
SSP Grant - Covid-19
Fundraising events		 Unrestricted
Funds
£
272
272
109,578
-
-
153
-
109,731
324
7,613
7,617
17,840
25,813
250
2,285
90
28
61,860
514
514		 Designated
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
2023
£
272
272
109,578
-
-
153
-
109,731
324
7,613
7,617
17,840
25,813
250
2,285
90
28
61,860
514
514		 Total
2022
£
201
201
91,739
10,000
1,156
67
6,049
109,011
550
6,765
2,135
14,696
21,717
-
1,301
-
-
47,164
1,129
1,129

Income received was £172,377 (2022: £157,505) of which £nil was restricted (2022: £nil).

13

ST.AGNES DAY NURSERY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2023

Analysis of expenditure on charitable activities

9
10		 Raising funds
Charitable activities
Direct costs
Support costs
Governance costs
Uniforms
Nursery trips
Director's salary
Wages
Advertising
Independent examiner's fees for reporting on
the accounts
Other staff expenses
Pension costs
Premises expenses
Insurances
Depreciation
Other expenditure
Travel and subsistence
Equipment
Refreshments
Training
Administration
Subscriptions
Office consumables
Payroll fees		 Unrestricted
Funds
£
286
286
24,690
116,306
5,639
236
22
2,574
2,595
1,101
396
450
1,329
2,363
4,188
963
5,905
2,628
-
22
1,024
172,431		 Designated
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,913
-
-
-
-
4,913		 Total
2023
£
286
286
24,690
116,306
5,639
236
22
2,574
2,595
1,101
396
450
1,329
2,363
4,188
963
10,818
2,628
-
22
1,024
177,344		 Total
2022
£
799
799
27,919
107,554
5,683
-
5
2,016
1,722
1,058
590
285
1,268
2,321
2,458
1,337
13,529
2,641
2,739
59
1,016
174,200

Expenditure on charitable activities was £177,630 (2022 £174,999) of which £nil was restricted (2022: £6,582).

11 Fees for examination of the accounts

Independent examiner's fees for reporting on the accounts 2023
£
1,024
1,024		 2022
£
1,016
1,016

14

ST.AGNES DAY NURSERY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2023

12 Analysis of staff costs and the cost of key management personnel

Salaries and wages
Social security costs
Pension costs (defined contribution pension plan)		 2023
£
137,526
3,470
5,639
146,635		 2022
£
131,150
4,323
5,683
141,156

No employee received remuneration above £60,000 (2022: nil)

The key management personnel of the charity, comprise the trustees, the charity manager and deputy manager. The total employee benefits of the key management personnel of the charity were £44,098 (2022: £45,638)

13 Staff numbers

The average monthly head count was 14 staff (2022: 11 staff) and the average monthly number of full-time equivalent employees during the year were as follows:

Charitable activities
The parts of the charity in which the employee's work
Governance		 2023
Number
4.0
2.0
6.0		 2022
Number
3.5
1.5
5.0

14 Transactions with trustees

The trustees have been paid remunerations and received other benefits from an employment with their charity or a related entity.

In the period the charity has paid trustees remuneration and benefits.

Name
D J Davies		 Remuneration
£
24,690		 Pension
£
562		 Other
£
-		 Total
2023
£
25,252		 Total
2022
£
28,575

Remuneration for the duties of charity manager at St.Agnes Day Nursery, but no remuneration as a trustee.

Trustees' expenses

No trustee expenses have been incurred in the year.

Transaction(s) with related parties

There have been no related party transactions in the reporting period.

15

ST.AGNES DAY NURSERY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2023

15 Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The employer's pension costs represent contributions payable by the charity to the fund and amount to £5,639 (2022: £5,683). There was £492 outstanding as at 31 March 2023 (2022: £550)

16 Corporation Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.

17 Debtors and prepayments (receivable within 1 year)

Trade debtors 2023
£
7,178
7,178		 2022
£
7,278
7,278

18 Cash at bank and in hand

Short term deposits
Cash at bank
Cash in hand		 2023
£
91,080
72,733
200
164,013		 2022
£
121,051
49,299
200
170,550

19 Creditors and accruals (payable within 1 year)

Staff holiday pay
Pension
Independent examination of accounts
Debtor refunds and advanced payments
Accruals		 2023
£
-
50
492
1,020
1,562		 2022
£
1,380
-
550
1,016
2,946

20 Events after the end of the reporting period

No other significant events affecting the Company since the year end.

16

ST.AGNES DAY NURSERY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2023

21 Analysis of charitable funds

Analysis of movements in unrestricted funds As at 31 March 2023

Unrestricted funds
General unrestricted fund
Designated funds:
Building Fund
Totals
As at 31 March 2022
Unrestricted funds
Unrestricted funds
General unrestricted fund
Designated funds:
Building Fund
Totals		 Fund
balances
brought
forward
£
96,044
78,838
174,882
Fund
balances
brought
forward
£
£
106,956
-
106,956		 Incoming
resources
£
172,377
-
172,377
Incoming
resources
£
£
157,505
-
157,505		 Resources
expended
£
( 172,717 )
( 4,913 )
( 177,630 )
Resources
expended
£
£
( 168,417 )
-
( 168,417 )		 Transfers
£
-
-
-
Transfers
£
£
-
78,838
78,838		 Fund
balances
carried
forward
£
95,704
73,925
169,629
Fund
balances
carried
forward
£
£
96,044
78,838
174,882

Purpose of unrestricted funds

General unrestricted fund The 'free reserves' of the charity Designated fund: Building Fund The building fund is set aside for maintenance, improvements and repairs to the premises.

Analysis of movement in restricted funds As at 31 March 2023

Restricted funds
Building fund
Totals		 Fund
balances
brought
forward
£
-
-		 Incoming
resources
£
-
-		 Resources
expended
£
-
-		 Transfers
£
-
-		 Fund
balances
carried
forward
£
-
-

17

ST.AGNES DAY NURSERY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2023

Analysis of movement in restricted funds continued)

As at 31 March 2022

Restricted funds
Building fund
Totals		 Fund
balances
brought
forward
£
85,420
85,420		 Incoming
resources
£
-
-		 Resources
expended
£
( 6,582 )
( 6,582 )		 Transfers
£
( 78,838 )
( 78,838 )		 Fund
balances
carried
forward
£
-
-

Purpose of restricted funds

Restricted funds represent income resources used for a specific purpose within the charity as identified by the donor.

Building fund

The building fund is set aside for maintenance, improvements and repairs to the premises.

Transfers between funds As at 31 March 2022

Between restricted and
designated funds
Reason for transfer
Re-classification of Building Fund.		 Amount
£
78,838

22 Capital commitments

As at 31 March 2023, the charity had no capital commitments (2022 -£nil)

23 Analysis of net assets between funds

Other net current assets/(liabilities)
Cash at bank and in hand		 Unrestricted
Funds
£
90,088
5,616
95,704		 Designated
Funds
£
73,925
-
73,925		 Total
2023
£
164,013
5,616
169,629		 Total
2022
£
170,550
4,332
174,882

18