Charity number 1125688
Company number 6641688
THE ARK CHILD OKEFORD
REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
THE ARK CHILD OKEFORD
COMPANY INFORMATION
| Committee of Management | Pauline Pinkney (Chair) |
|---|---|
| Margaret Vine (Treasurer) | |
| Natasha Pike | |
| Kathy Pym | |
| Imogen Gater | |
| Philippa Tandoh | |
| Sarah Louise McNabb | |
| Sam Whiting | |
| Erin Lawrence (appointed 02.11.20) | |
| Laura Bridger-Chilvers (appointed 02.07.21) | |
| Florence Horsey (appointed 19.07.21) | |
| Secretary | Alix Dey (resigned 21.11.20) |
| Erin Lawrence (appointed 10.10.21) | |
| Registered office | St Nicholas School |
| Station Road | |
| Child Okeford | |
| Blandford | |
| Dorset | |
| DT11 8EL | |
| Independent examiner | Rapid Accounts Limited |
| Unit 20 The Wincombe Centre | |
| Wincombe Business Park | |
| Shaftesbury | |
| Dorset | |
| SP7 9QJ | |
| Registered number | 6641688 |
| Charity number | 1125688 |
THE ARK CHILD OKEFORD
CONTENTS
| Page | |
|---|---|
| Trustees Report | 1 to 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 to 8 |
| Independent examiner's report | 9 |
THE ARK CHILD OKEFORD
TRUSTEES REPORT
FOR THE YEAR ENDED 31 JULY 2021
The Trustees present their Report and Accounts for the year ended 31 July 2021.
These have been prepared in accordance with the statutory requirements and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Status of the Company
The Ark Child Okeford is registered under the Companies Act as a company limited by guarantee and not having a share capital, and is a registered charity. The company is governed by its Memorandum and Articles of Association dated 9 July 2008. Each trustee is member and a guarantor to the sum of £10.
Trustees
The trustees (who are also directors for the purposes of the Companies Act) who served in the year are shown on the information page.
The management of the company is the responsibility of the trustees, who are appointed by the members of the company in accordance with the Articles of Association.
Objectives and activities
The principal policies and objectives of the charity are:
a) To enhance the development and education of children in a parent-involving, community based group
b) To offer good quality affordable childcare
c) To provide a caring, safe, secure and stimulating enviroment for children from 0 to 11 years
d) To work within a framework that ensures equality of opportunity for all children and families
In order to achieve these objectives the charity continued the running of the child care setting during the year.
Public benefit reporting
The trustees have had regard to charity commission guidance on public benefit when setting the objectives and activities of the charity.
Achievements and Performance
At the start of the 2020/21 financial year The Ark’s reserves were good, with a little under £50,000 held in the bank. During the year two members of the childcare team went on maternity leave and their positions were filled by one current member of staff increasing their hours and the other via outside recruitment. The chef position was vacant for a period of time and covered by the manager and another member of the current staff until a new chef was successfully recruited in May.
Despite COVID-19 dominating the earlier months of this year, we were able to increase our reserves and by the end of the year there was a little over £91,000 in our current account. We were able to stay open throughout the further school lockdowns. Bookings for childcare spaces have continued to be buoyant and our Baby Room is fully booked until 2023. We are confident that The Ark’s financial position will remain secure throughout the next year.
1
THE ARK CHILD OKEFORD
TRUSTEES REPORT
FOR THE YEAR ENDED 31 JULY 2021
Financial review
1. Review of the year
The financial results for the year are set out on pages 6 to 9
2. Reserves policy
Reserves
The trustees consider that there should be available at least one months salary costs. At the year end this was achieved with unrestricted reserves being £156,001 (2020: £105,443).
Statement of Trustees Responsibilities
The trustees (who are also directors of The Ark Child Okeford for the purposes of company law) are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for the year. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the foundation will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees on and signed on behalf of the board by:
……………………………… Erin Lawrence Secretary
Date:
2
THE ARK CHILD OKEFORD
STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) FOR THE YEAR ENDED 31 JULY 2021
| Notes Income from: Donations and grants Charitable activities 3 Other trading activities- fundraising events Investment income- bank interest Total income Expenditure on: Raising funds Charitable activities 4 Total expenditure Net income / (expenditure) Transfers between funds 9 Net movement in funds Reconciliation of funds: Total funds brought forward 9 Total funds carried forward 9 |
2021 Unrestricted funds £ 3,324 410,224 699 7 414,254 959 364,912 365,871 48,383 2,175 50,558 105,443 156,001 |
2021 Restricted funds £ - - - - - - - - - (2,175) - 15,225 13,050 |
1.08.19 - 2021 31.7.20 Total funds Total funds £ £ 3,324 32,707 410,224 303,398 699 2,377 7 16 414,254 338,498 959 528 364,912 321,077 365,871 321,605 48,383 16,893 - - 48,383 16,893 120,668 103,775 169,051 120,668 |
|---|---|---|---|
The statement of financial activities includes all gains and losses recognised during the year. All income and expenditure in the current and preceding year relates to unrestricted funds.
3
Registered number: 6641688
THE ARK CHILD OKEFORD
BALANCE SHEET
AS AT 31 July 2021
| Notes Fixed assets Tangible assets 7 Current assets Sundry debtors and prepayments Cash at bank Creditors: amounts falling due within one year 8 Net assets Funds General fund Restricted fund Total charity funds 9 |
2021 2020 £ £ £ £ 74,805 73,608 14,533 3,318 92,762 54,894 107,295 58,212 13,049 11,152 94,246 47,060 169,051 120,668 156,001 105,443 13,050 15,225 169,051 120,668 |
2021 2020 £ £ £ £ 74,805 73,608 14,533 3,318 92,762 54,894 107,295 58,212 13,049 11,152 94,246 47,060 169,051 120,668 156,001 105,443 13,050 15,225 169,051 120,668 |
|---|---|---|
| 107,295 13,049 |
||
| 120,668 | ||
| 105,443 15,225 |
||
| 120,668 |
For the year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustees responsibilities:
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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 of the Companies Act 2006;
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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 financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements were approved by the board and authorised for issue on and were signed on their behalf by:
-------------------------------------------Pauline Pinkney Chairperson
4
THE ARK CHILD OKEFORD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 July 2021
1 Principal accounting policies
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a) The Ark Child Okeford is a charitable company limited by guarantee, registered in UK. The nature of the charity’s operations and principal activities are set out in the Trustees' Report on page 1.
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b) The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006, the Charities Act 2011 and UK Generally Accepted Accounting Practice. The charity does not include a cash flow statement on the grounds that it is a small charity. The accounts have been presented in sterling which is the functional currency of the charity and are rounded to the nearest £1. The accounts are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.
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c) The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. The charity adopted SORP (FRS 102) in the current year and an explanation of how transition to SORP (FRS 102) has affected the reported financial position and performance is given in note 12.
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d) All income is recognised once the charity has entitlement to the income, there is sufficient probability that the income will be received, and the amount of income receivable can be measured reliably. Donated facilities or services are included at the value to the charity where they can be reliably quantified.
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e) A certain amount of time is expended on the charity’s activities, which is donated free of charge. It is not possible to quantify the value of time given and accordingly it is neither recorded as donated income nor as an expense in the accounts.
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f) Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Support costs are all allocated to charitable activities.
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g) Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual amount, over the expected useful lives on the following basis: Fixtures and fittings - 25% reducing balance Leasehold improvements - straight line over the lease term
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h) General funds are unrestricted funds which can be used in accordance with the charitable objects at the discretion of the trustees. Restricted funds are subject to restrictions imposed by the donor or the terms of the appeal.
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i) Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
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j) Cash at bank includes cash and short term deposits with a maturity of three months or less.
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k) The charity operates a defined contribution pension scheme for some of the staff. From July 2016 the charity joined the NEST pension scheme for the remaining, eligible, staff in order to meet its obligations for auto-enrolment pensions. The charity's contributions are expensed as they become payable.
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l) The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
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m) The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
5
THE ARK CHILD OKEFORD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 July 2021
2 Judgements and key sources of estimation uncertainty
The trustees do not consider there to be any significant judgements in the process of applying the accounting policies set out in note 1. The trustees do not consider there to be any key assumptions concerning the future or sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of the assets and liabilities within the next financial year.
3 Income from charitable activities
| Income from charitable activities School fees EY Funding Milk refunds Other income Analysis of expenditure on charitable activities Teaching salaries Teaching pensions Training Food Consumables Entertainments Travel Utilities Water dispenser Waste disposal Cleaning Equipment hire Repairs and renewals Telephone IT support and printing Legal & professional fees Subscriptions and licences Insurances Bad debts written off Sundry Depreciation Governance costs - independent examiners fee |
2021 £ 277,234 132,423 567 - 410,224 2021 £ 302,247 4,459 484 14,060 4,627 140 19 6,140 216 1,231 4,553 1,482 2,813 1,038 2,363 1,795 379 1,131 - 3,897 10,938 900 364,912 |
1.08.19 - 31.7.20 £ 170,963 131,940 495 - |
|---|---|---|
| 303,398 | ||
| 1.08.19 - 31.7.20 £ 267,129 5,714 1,777 12,670 3,339 662 275 3,676 210 798 2,914 857 2,018 928 2,031 1,546 303 1,090 422 2,087 9,731 900 |
||
| 321,077 |
4 Analysis of expenditure on charitable activities
Included in depreciation is £2175 (2020: £2175) in respect of the transfer from restricted funds (note 9)
5 Staff costs
| Staff costs Salaries Social security costs Pensions |
2021 £ 289,285 12,962 4,459 306,706 |
1.08.19 - 31.7.20 £ 257,008 10,121 5,714 |
| 272,843 |
No employees received emoluments of more than £60,000 per annum (2020: nil). The average monthly headcount was 17 staff (2020: 20 staff) and the average number of full time equivalent employees during the year was 11 (2020: 7).
The charity trustees were not paid nor received any salary or benefits from employment with the charity in the year (2021: £nil). Reimbursed expenses during the year amounted to £nil (2020:£nil).
6
THE ARK CHILD OKEFORD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 July 2021
| 6 Net incoming resources This is stated after charging: Depreciation 7 Fixed assets Cost 1 August 2020 Additions At 31 July 2021 Depreciation 1 August 2020 Charge At 31 July 2021 Net Book Value At 31 July 2021 At 31 July 2020 8 Creditors: amounts falling due within one Trade creditors Accruals and deposits held 9 Funds Balance at 1 August 2020 Surplus/(Deficit) Transfers Balance at 31 July 2021 Balance at 1 August 2019 Surplus/(Deficit) Transfers Balance at 31 July 2020 |
Mobile Building (The Raft) £ 53,753 7,342 61,095 10,058 4,253 14,311 46,784 43,695 year |
2021 £ 10,938 Fixtures and Leasehold Fittings improvements £ £ 51,094 56,476 4,793 55,887 56,476 43,853 33,804 3,008 3,677 46,861 37,481 9,026 18,995 7,241 22,672 2021 £ 6,041 7,008 13,049 Unrestricted Restricted £ £ 105,443 15,225 48,383 2,175 (2,175) 156,001 13,050 86,375 17,400 16,893 2,175 (2,175) 105,443 15,225 |
1.08.19 - 31.7.20 £ 9,731 Total £ 161,323 12,135 173,458 87,715 10,938 98,653 74,805 73,608 2020 £ 5,458 5,695 11,153 Total £ 120,668 48,383 - 169,051 103,775 16,893 - 120,668 |
|---|---|---|---|
The restricted fund represents funds received from Dorset County Council for an extension to the schools premises. The improvements are shown as fixed assets and are being depreciated over the lease term. The restricted reserve is being written off on the same basis and is being shown as a transfer between reserves.
7
THE ARK CHILD OKEFORD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 July 2021
| 10 Analysis of net assets between funds Fixed assets Current assets Creditors falling due within one year Balance at 31 July 2021 Fixed assets Current assets Creditors falling due within one year Balance at 31 July 2020 |
Unrestricted £ 61,755 107,295 (13,049) 156,001 58,383 58,212 (11,152) 105,443 |
Restricted £ 13,050 - - 13,050 15,225 - - 15,225 |
Total £ 74,805 107,295 (13,049) |
|---|---|---|---|
| 169,051 | |||
| 73,608 58,212 (11,152) |
|||
| 120,668 |
11 Related parties and transactions with trustees
None of the trustees received any remuneration from the company.
12 Share capital
The company is limited by guarantee and does not have share capital. Each member is a guarantor to the sum of £10.
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INDEPENDENT EXAMINER'S REPORT
ON THE UNAUDITED FINANCIAL STATEMENTS OF
THE ARK CHILD OKEFORD
Independent Examiner's Report to the Trustees of The Ark Child Okeford
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 July 2021 which are set out on pages 3 to 8.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Accounting Technicions, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Rapid Accounts Limited Unit 20 The Wincombe Centre Wincombe Business Park Shaftesbury Dorset SP7 9QJ
Date:
9