## **Microsoft** **Busy Bees Blaenavon Day Nursery and Kids Club Ltd** **Trustees Annual Report September 2019 – August 2020** **Busy Bees** 2019 - 2020 Busy Bees Blaenavon Day Nursery and Kids Club Trustees Annual Report 2020 Management Board Report for the year ended 31[st] August 2020 ## **References and Administration information** Charity Name: Busy Bees Blaenavon Day Nursery and Kids Club Ltd Charity registration number: 1126728 Company Registration Number 06495575 Registered Office and Park Street Operational address Blaenavon Torfaen NP4 9AA ## **Management Committee** Tom Wood Chair Amy Foster Vice-Chair Susan Driscoll Tracey John Joanne Watkins Sophie Gallear Joanne Walters Jenny Davies Gemma Hart Stacey Thomas ## **Secretary** Cara Boddington ## **Our Aims and Objectives** At Busy Bees we aim to:- - Promote a community ethos where adults and children can reach their full potential - Provide a warm, caring, inclusive and family environment for children aged 0 – 11 years, where each child and adult is treated as an individual and their unique qualities are recognised and celebrated - To enable children’s learning by providing experiences and opportunities that are fun, stimulating and appropriate. Ensuring our work delivers our aims - Continually monitoring local demands and requirements so we can offer a service that is flexible and accessible - Liaising with members of the community such as Health visitors and school representative, as well as employers, Trade associations and local community groups - Ensuring our facilities are safe and secure and an appropriate environment for our activities. How our activities deliver public benefit - Affordable quality childcare enables parents to continue or return to work, improve their skills with training and further education. This includes escorting children to and from school and nursery for parents that would be unable to work without our services. - Allowing community groups to utilise our facilities to run activities and meetings - Supporting families in need of respite or childcare to enable them to better their quality of life for themselves and their children. - Actively employing local people and providing on the job training and experience opportunities for students. - Working in tandem with local health professionals to target families in need and delivering a service that improves the quality of life of the whole family ## Financial review Busy Bees has managed to continue throughout the Covid Crisis, and provided an important service under very trying circumstances. In the summer we did not know if we would still be here, or whether we would be able to keep all our staff on. Through a lot of hard work, funding and government schemes we have managed to stay open and to retain all of our staff – although staff have been affected by periods of isolation, furlough and reduced hours. We received funding from the Childcare Offer team for equipment to make our premises safer, for staff, children and parents. We relied heavily on the furlough scheme to retain our staff. We had a part loanpart grant from the WCVA which helped us with cashflow issues. We were lucky as we went into the crisis with some reserves, partly due to the loan we took out in 2018; but mainly as in the Autumn we received a bequeathment from a long standing supported of Busy Bees, Mr Domingo. This money made a massive difference and it is difficult to say whether we would be in the same position without it. During 19/20 period we launched into a very ambitious building project – 80% of which was funded by the Rural Development Fund. This involved remodelling the under 2’s department, building new storage areas, a new preschool bathroom, and a mezzanine floor above which now houses our staff kitchen and break area. Overall, this went smoothly, we made some compromises at the end (e.g. we were unable to replace the floor in preschool) as the initial lockdown started as the builder was finishing. This poor timing meant that we had trouble with contractors due to availability of supplies and ensuring we had use of the room in order to have enough space for the children who needed care. The funding was paid after the work had been completed and there was a lot of paperwork in order to access the money. There was a very sticky period when we were expecting around £30,000 in funding for work carried out and it took nearly three months to be paid. We will look at the outstanding works in the future, plus we need to address the roof. We have had some maintenance over the past few years, but it may be that a big job is on the horizon. We are also looking at covering the outside entrance area. Utility costs reduced by nearly 20% in 2017/2018 – 2018/2019, due to the improved boiler and monitoring. We were expecting about the same this year, but there was a 5% decrease in overall bills. Staff costs rose again in April in line with minimum wage increase – without COVID-19 it would have been an increase of around £2000 per month. Last year we had a fees overhaul to better reflect how families use Busy Bees. This year we only increased the sections that did not have an increase last year. This was by the usual 5%. Fees overall decreased by 35%, which is not as bad as it could have been. We did not carry out any fundraising after Christmas, so this figure is greatly reduced on what we expected. Overall, it could have been a lot worse. Moving into 2020-2021 we have started to stabilise our income again. We have invested in an app, this will reduce the amount of paperwork needed, streamline admin and improve the invoicing and payment system. It will also improve communication between staff and parents. We will monitor this to ensure it is value for money. Wages continue to rise as we have had to change the way we staff the nursery in order to be as safe as possible. The forward projection looks ok at the moment, but who knows what the next few months will bring. We must continue to constantly evaluate every hour and every purchase in order to make sure Busy Bees runs a high-quality service and can pay its bills. ## Principle Funding Sources Aside from the principle income generated by the services we provide, we continue to receive funding from Torfaen County Borough Council to provide Free Flying Start preschool places within both Busy Bees Blaenavon and at BICC, and from September 2018 many families have accessed the Free 30 Hours childcare offer. ## **Structure, Governance and Management** ## Governing Document The organisation is a charitable company limited by guarantee, incorporated on the 6[th] of February 2008 and registered as a charity on the 30[th] of June 2008. The company was established under a Memorandum of Association which established 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. ## Recruitment and Appointment of Management Committee Some of the directors of the company are also charity trustees for the purposes of charity law Under the company’s Articles directors/trustees are known as members of the Management committee. All members of the Management Committee give their time voluntarily and receive no benefit from the charity. The Management Board has a mix of parents and staff to ensure that all aspects are covered and that it can be functional as a Board. ## Risk Management Day to day risk assessment procedures and policies are in operation throughout the nursery. These are maintained and reviewed by the Manager. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the building and to the satellite group Busy Bees @ BICC ## **Organisational Structure** Busy Bees has a Management Board of eleven members who meet monthly and are responsible for the strategic direction and policy of the charity. The Management Board at present has several members from professional backgrounds and several who do not in order to fully represent the community we support. A Management structure is in place. Day to day responsibility for smooth running rests with the Nursery Manager, supported by three deputy managers and supervisors. The Nursery Manager reports to the Management Board. ## Related Parties - Wales PPA - Clybiau Plant Cymru Kids Club - National Day Nurseries Association ## **Responsibilities of the Management Committee** Company law requires the Management Committee to prepare financial statements for each financial year which give a true and fair view of the affairs of the 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 management board should follow best practices and: Select suitable accounting policies and then apply them consistently Make judgements and estimates that are reasonable and prudent; and Prepare the financial statements on the going concern basis unless it is not appropriate to assume that the company will continue on that basis. The management board 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. The Management Board is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Members of the Management Committee** Members of the Management Committee, who are directors for the purpose of company law, Tom and Sue are also 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 directors, we certify that; So far as we are aware, there is no relevant information of which the company directors are unaware; and As the directors of the company we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant information and to establish that the management board is aware of that information. This report has been approved by the Management Board on 12/10/2020 and signed on its behalf by Cara Boddington Cara Boddington ## Busy Bees Blaenavon Day Nursery and Kids Club Statement of Financial Activities (including Income and Expenditure Account) for the year ending 31[st] August 2020 THE FIGURES FOR 2019/2020 ARE NOT CONFIRMED AT THIS POINT. THEY WILL BE AFTER THE ACCOUNTANTS HAVE PROCESSED THEM Opening balance 1/9/2019 £18701.00 |INCOME||||| |---|---|---|---|---| ||**2016/2017**|**2017/2018**|**2018/2019**|**2019/2020**| |ASSISTED PLACES/1:1
SUPPORT
CCAS-2020 only|**£4339**|**£4766**|**£13750**|**£11,310**| |30 HOURS CHILDCARE|||**£102,330**|**£61,895**| |DONATIONS|**£2881**|**£3553**|**£2462**|**£22477**| |FEES|**£244,411**|**£252,063**|**£228,744**|**£148,331**| |FLYING START|**£63977**|**£87950**|**£96550**|**£92,781**| |FUNDRAISING|**4618**|**£1396**|**£2094**|**£801**| |Grants|**8000.00**|**2850**|**11905**|**£89,982**| |Insurancepayment|**1466**|**0**|**0**|**£0**| |**Loan**|**0**|**£20400**|**0**|**£0**| |**TOTAL**|**£329706**|**£372998**|**£457864**|**£427,577**| |||||| |EXPENDITURE||||| |Wages|**265570**|**£299258**|**£334560**|**£279574***| |Accountancy Fees|**2400**|**£1920**|**£2160**|**£2160**| |Groceries/Consumables|**13843**|**£16340**|**£19721**|**17,776**| |Fuel/Escorts|**3106**|**£2250**|**£4212**|**£3154**| |Training||**£1921**|**£2365**|**£540**| |Admin|**2361**|**£3514**|**£5089**|**£540**| |---|---|---|---|---| |Rent|**8613**|**£10357**|**£17,204**|**£13,904**| |Licences|**273**|**£278**|**£286**|**£293**| |Membership|**374**|**£214**|**£356**|**£252**| |Trips/Treats|**492**|**£60**|**£113**|**£324**| |Uniform|**65**|**£719**|**£804**|**£271**| |Equipment|**2393**|**£1759**|**£2,717**|**£33,136**| |Insurance|**1385**|**£1215**|**£2,045**|**£3,667**| |Utilities|**7151**|**£10063**|**£8,202**|**£7,721**| |Building|**14241**|**£7145**|**£27,776**|**£43,517**| |Depreciation|**6115**|**4585**|**4362**|**£**| |Bank Interest|**215**|**£225**|**£263**|**-£25**| |Loan Repayments|||**4644.72**|**£3693.54**| |Bank Loan Interest||**£296**|**602**|| |Donations|||**158**|| |Total|**328,660**|**£362119**|**£432,997**|**£414173**| |Year surplus/Deficit||||**£22386**| Closing Balance 31/08/2020 £32105 *Wages were £335,698 minus £46,405 in furlough payments ## Busy Bees Blaenavon Day Nursery and Kids Club The average number of employees during the year, including full time and part time positions ||2010|2011|2012|2013|2014|2015|2016|2017|2018|**2019**|**2020**| |---|---|---|---|---|---|---|---|---|---|---|---| |Manager|1|1|1|1|1|1|1|1|1|**1**|**1**| |Deputy manager|3|3|3|3|3|3|3|5|5|**5**|**5**| |Supervisor|3|3|4|4|3|2|2|1|1|**1**|**1**| |Assistant|12|15|16|16|19|20|20|20|19|**19**|**18**| |Auxiliary|3|3|3|3|4|4|4|4|5|**6**|**6**| ## **Trustee Remuneration and Related Party Transactions** No members of the management board received any remuneration during the year. No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year. ## **Taxation** As a charity Busy Bees is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity **REGISTERED COMPANY NUMBER: 06495575 (England and Wales) REGISTERED CHARITY NUMBER: 1126728** ## **REPORT OF THE TRUSTEES AND** ## **FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31ST AUGUST 2020** ## **FOR** **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** Green & Co Chartered Certified Accountants Pembroke House Llantarnam Park Way Cwmbran Torfaen NP44 3AU **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2020** ||**Page**| |---|---| |**Report of the Trustees**|1 to 5| |**Independent Examiner's Report**|6| |**Statement of Financial Activities**|7| |**Balance Sheet**|8 to 9| |**Notes to the Financial Statements**|10 to 15| |**Detailed Statement of Financial Activities**|16 to 17| **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st August 2020. The trustees have adopted the provisions of 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) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **At Busy Bees we aim to:-** o Promote a community ethos where adults and children can reach their full potential. o Provide a warm, caring, inclusive and family environment for children aged 0 - 11 years, where each child and adult is treated as an individual and their unique qualities are recognised and celebrated. o To enable children's learning by providing experiences and opportunities that are fun, stimulating and appropriate. ## **Ensuring our work delivers our aims** o Continually monitoring local demands and requirements so we can offer a service that is flexible and accessible. o Liaising with members of the community such as Health visitors and school representative, as well as employers, trade associations and local community groups. o Ensuring our facilities are safe and secure and an appropriate environment for our activities. ## **How our activities deliver public benefit** o Affordable quality childcare enables parents to continue or return to work, improve their skills with training and further education. This includes escorting children to and from school and nursery for parents that would be unable to work without our services. o Allowing community groups to utilise our facilities to run activities and meetings. o Supporting families in need of respite or childcare to enable them to better their quality of life for themselves and their children. o Actively employing local people and providing on the job training and experience opportunities for students. o Working in tandem with local health professionals to target families in need and delivering a service that improves the quality of life of the whole family. Page 1 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020** ## **FINANCIAL REVIEW** Busy Bees has managed to continue throughout the Covid-19 crisis, and provided an important service under very trying circumstances. In the Summer, we did not know if we would still be here, or whether we would be able to keep all of our staff on. Through a lot of hard work, funding and government schemes, we have managed to stay open and retain all of our staff - although staff have been affected by periods of isolation, furlough and reduced hours. We received funding from the Childcare Offer Team for equipment to make our premises safer, for staff, children and parents. We relied heavily on the furlough scheme to retain our staff. We had a part loan-part grant from the WCVA which helped us with cashflow issues. We were lucky as we went into the crisis with some reserves, partly due to the loan we took out in 2018; but mainly as in the Autumn we received a bequeathment from a long standing supporter of Busy Bees, Mr Domingo. This money made a massive difference and it is difficult to say whether we would be in the same position without it. During the 19/20 period we launched into a very ambitious building project - 80% of which was funded by the Rural Development Fund. This involved remodelling the under 2's department, building new storage areas, a new pre-school bathroom, and a mezzaine floor above which now houses our staff kitchen and break area. Overall, this went smoothly, we made some compromises at the end (e.g. we were unable to replace the floor in the preschool) as the initial lockdown started as the builder was finishing. This poor timing meant that we had trouble with contractors due to availability of suppliers and ensuring we had use of the room in order to have enough space for the children who needed care. The funding was paid after the work had been completed and there was a lot of paperwork in order to access the money. There was a very sticky period when we were expecting around £30,000 in funding for work carried out and it took nearly three months to be paid. We will look at the outstanding works in the future, plus we need to address the roof. We have had some maintenance over the past few years, but it may be that a big job is on the horizon. We are also looking at covering the outside entrance area. Utility costs reduced by nearly 20% in 17/18 - 18/19, due to the improved boiler and monitoring. We were expecting about the same this year, but there was a 5% decrease in overall bills. Staff costs rose again in April in line with minimum wage increases - without Covid-19 it would have been an increase of around £2,000 per month. Last year we had a fees overhaul to better reflect how families use Busy Bees. This year we only increased the sections that did not have an increase last year. This was by the usual 5%. Fees overall decreased by 35%, which is not as bad as it could have been. We did not carry out any fundraising after Christmas, so this figure is greatly reduced on what we expected. Overall it could have been a lot worse. Moving into 20-21 we have started to stabilise our income again. We have invested in an app, which will reduce the amount of paperwork needed, streamline admin and improve the invoicing and payment system. It will also improve communication between staff and parents. We will monitor this to ensure it is value for money. Wages continue to rise as we have had to change the way we staff the nursery in order to be as safe as possible. We must continue to constantly evaluate every hour and every purchase in order to make sure Busy Bees runs a high-quality service and can pay its bills. ## **Principle Funding Sources** Aside from the principle income generated by the services we provide, we continue to receive funding from Torfaen County Borough Council to provide Free Flying Start preschool places within both Busy Bees Blaenavon and at BIC, and from September 2018 many families access the free 30 hours childcare offer. Page 2 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS** **CLUB** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The organisation is a charitable company limited by guarantee, incorporated on the 6th of February 2008 and registered as a charity on the 30th of June 2008. The company was established under a Memorandum of Association which established 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. ## **Recruitment and appointment of Management Committee** The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Management committee. All members of the Management Committee give their time voluntarily and receive no benefit from the charity. C F Boddington, S J Driscoll, S M Gallear, T J John, S Thomas and J Walters are trustees and employees of the charity but only receive remuneration for their employment roles. The Management Board has a mix of parents and staff to ensure that all aspects are covered and that it can be functional as a Board. ## **Organisational structure** Busy Bees has a Management Board of ten members who meet monthly and are responsible for the strategic direction and policy of the charity. The Management Board at present has several members from professional backgrounds and several who do not in order to fully represent the community we support. A Management structure is in place. Day to day responsibility for smooth running rests with the Nursery Manager, supported by three deputy managers and supervisors. The Nursery Manager reports to the Management Board. Page 3 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS** **CLUB** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Responsibilities of the Management Committee** Company law requires the Management Committee to prepare financial statements for each financial year which give a true and fair view of the affairs of the 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 management board should follow best practices and: o Select suitable accounting policies and then apply them consistently. o Make judgements and estimates that are reasonable and prudent; and o Prepare the financial statements on the going concern basis unless it is not appropriate to assume that the company will continue on that basis. The management board 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 2006. The Management Board is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Members of the Management Committee** Members of the Management Committee, 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 5. In accordance with company law, as the company directors, we certify that; So far as we are aware, there is no relevant information of which the company directors are unaware; and As the directors of the company we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant information and to establish that the management board is aware of that information. ## **Related parties** o Wales PPA o Clybiau Plant Cymru Kids Club o National Day Nurseries Association ## **Risk management** Day to day risk assessment procedures and policies are in operation throughout the nursery. These are maintained and reviewed by the Manager. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the building and to the satellite group Busy Bees at BICC. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** 06495575 (England and Wales) ## **Registered Charity number** 1126728 Page 4 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020** ## **Registered office** Busy Bees Park Street Blaenavon Pontypool Torfaen NP4 9AA ## **Trustees** C F Boddington Finance officer S J Driscoll Nursery Manager S M Gallear Childcare A L Foster Marketing Executive T J John Nursery Supervisor (resigned 11/11/2019) J M Watkins Podiatrist (resigned 1/12/2020) T R Wood Director J Walters Childcare Practitioner S Thomas Childcare Practitioner R C Redman Accountant ## **Company Secretary** C F Boddington ## **Independent Examiner** Edwin Gooderham ACA Green & Co Chartered Certified Accountants Pembroke House Llantarnam Park Way Cwmbran Torfaen NP44 3AU Approved by order of the board of trustees on 12th May 2021 and signed on its behalf by: C F Boddington - Trustee Page 5 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **Independent examiner's report to the trustees of Busy Bees Blaenavon Day Nursery And Kids Club ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st August 2020. ## **Responsibilities and basis of report** As the charity's 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 charity'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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ACA 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: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. 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 4. 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. Edwin Gooderham ACA Green & Co Chartered Certified Accountants Pembroke House Llantarnam Park Way Cwmbran Torfaen NP44 3AU 12th May 2021 Page 6 ## **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2020** |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
22,535
**Charitable activities**
Childcare
317,887
**Total**
340,422
**EXPENDITURE ON**
**Charitable activities**
Childcare
335,631
**NET INCOME/(EXPENDITURE)**
4,791
**Other recognised gains/(losses)**
Gains/(losses) on revaluation of fixed assets
(21,538)
**Net movement in funds**
(16,747)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
57,779
**TOTAL FUNDS CARRIED FORWARD**
41,032|Restricted
funds
£
-
92,781
92,781
112,831
(20,050)
21,538
1,488
(5,785)
(4,297)|2020
Total
funds
£
22,535
410,668
433,203
448,462
(15,259)
-
(15,259)
51,994
36,735|2019
Total
funds
£
2,621
469,995| |---|---|---|---| ||||472,616
432,997| ||||39,619
-| ||||39,619
12,375| ||||51,994| The notes form part of these financial statements Page 7 ## **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **BALANCE SHEET 31ST AUGUST 2020** |Unrestricted
Restricted
fund
funds
Notes
£
£
**FIXED ASSETS**
Tangible assets
6
20,768
8,569
**CURRENT ASSETS**
Debtors
7
26,339
-
Cash at bank
32,105
-
58,444
-
**CREDITORS**
Amounts falling due within one year
8
(38,180)
(4,000)
**NET CURRENT ASSETS**
20,264
(4,000)
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
41,032
4,569
**CREDITORS**
Amounts falling due after more than one year
9
-
(8,866)
**NET ASSETS**
41,032
(4,297)
**FUNDS**
11
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|2020
Total
funds
£
29,337
26,339
32,105
58,444
(42,180)
16,264
45,601
(8,866)
36,735
41,032
(4,297)
36,735|2019
Total
funds
£
13,084
46,073
18,605
64,678
(13,902)
50,776
63,860
(11,866)
51,994
57,779
(5,785)
51,994| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2020. The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2020 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements Page 8 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **BALANCE SHEET - continued 31ST AUGUST 2020** These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 12th May 2021 and were signed on its behalf by: S J Driscoll - Trustee The notes form part of these financial statements Page 9 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2020** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** 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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings - 25% on reducing balance Motor vehicles - 25% on reducing balance Office equipment - 20% on cost ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 10 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2020** ## **2. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): ||2020|2019| |---|---|---| ||£|£| |Depreciation - owned assets|8,448|4,364| ## **3. TRUSTEES' REMUNERATION AND BENEFITS** C F Boddington, S J Driscoll, S M Gallear, T J John, S Thomas and J Walters were employees and trustees of the charity during the year. The employees were paid solely for their roles in childcare, management and administration. No remuneration or benefits were given for acting as a trustee of the charity. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31st August 2020 nor for the year ended 31st August 2019. ## **4. STAFF COSTS** The average monthly number of employees during the year was as follows: |Manager
Deputy Manager
Supervisor
Assistant
Auxiliary|2020
1
5
1
18
6
31|2019
1
5
1
19
6| |---|---|---| |||32| No employees received emoluments in excess of £60,000. ## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2,621
**Charitable activities**
Childcare
373,445
**Total**
376,066|Restricted
funds
£
-
96,550
96,550|Total
funds
£
2,621
469,995| |---|---|---| |||472,616| ## **EXPENDITURE ON** Page 11 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2020** ## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued** ||||Unrestricted|Restricted|Total| |---|---|---|---|---|---| ||||fund|funds|funds| ||||£|£|£| ||**Charitable activities**||||| ||Childcare||317,980|115,017|432,997| ||**NET INCOME/(EXPENDITURE)**||58,086|(18,467)|39,619| ||**Transfers between funds**||(19,148)|19,148|-| ||**Net movement in funds**||38,938|681|39,619| ||**RECONCILIATION OF FUNDS**||||| ||**Total funds brought forward**||18,842|(6,467)|12,375| ||**TOTAL FUNDS CARRIED FORWARD**||57,780|(5,786)|51,994| |**6.**|**TANGIBLE FIXED ASSETS**||||| |||Fixtures|||| |||and|Motor|Office|| |||fittings|vehicles|equipment|Totals| |||£|£|£|£| ||**COST**||||| ||At 1st September 2019|88,786|3,690|-|92,476| ||Additions|12,197|11,529|975|24,701| ||At 31st August 2020|100,983|15,219|975|117,177| ||**DEPRECIATION**||||| ||At 1st September 2019|78,469|923|-|79,392| ||Charge for year|4,678|3,575|195|8,448| ||At 31st August 2020|83,147|4,498|195|87,840| ||**NET BOOK VALUE**||||| ||At 31st August 2020|17,836|10,721|780|29,337| ||At 31st August 2019|10,317|2,767|-|13,084| Page 12 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2020** ## **7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |2020
£
Trade debtors
24,699
Other debtors
-
Prepayments
1,640
26,339
**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2020
£
Bank loans and overdrafts (see note 10)
4,000
Other loans (see note 10)
8,125
Trade creditors
7,294
Social security and other taxes
1,649
Accruals and deferred income
21,112
42,180
**9.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
2020
£
Bank loans (see note 10)
8,866
**10.**
**LOANS**
An analysis of the maturity of loans is given below:
2020
£
Amounts falling due within one year on demand:
Bank loans
4,000
Other loans
8,125
12,125
Amounts falling between one and two years:
Bank loans
4,000
Amounts falling due between two and five years:
Bank loans
4,866|2019
£
28,133
17,940
-|2019
£
28,133
17,940
-| |---|---|---| ||46,073|| ||2019
£
4,000
-
4,573
2,789
2,540|| ||13,902|| ||2019
£
11,866|| |||2019
£
4,000
-| |||4,000| |||4,000| |||7,866| Page 13 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2020** ## **11. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
Other fixed assets
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
340,422
**Restricted funds**
Restricted fund
92,781
Other fixed assets
-
92,781
**TOTAL FUNDS**
433,203|At 1.9.19
£
57,779
(13,326)
7,541
(5,785)
51,994
Resources
expended
£
(335,631)
(111,700)
(1,131)
(112,831)
(448,462)|Net
movement
At
in funds
31.8.20
£
£
(16,747)
41,032
2,619
(10,707)
(1,131)
6,410
1,488
(4,297)
(15,259)
36,735
Gains and
Movement
losses
in funds
£
£
(21,538)
(16,747)
21,538
2,619
-
(1,131)
21,538
1,488
-
(15,259)| |---|---|---| ## **Comparatives for movement in funds** |||Net|Transfers|| |---|---|---|---|---| |||movement|between|At| ||At 1.9.18|in funds|funds|31.8.19| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|18,842|58,085|(19,148)|57,779| |**Restricted funds**||||| |Restricted fund|(16,521)|(15,953)|19,148|(13,326)| |Other fixed assets|10,054|(2,513)|-|7,541| ||(6,467)|(18,466)|19,148|(5,785)| |**TOTAL FUNDS**|12,375|39,619|-|51,994| Page 14 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2020** ## **11. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
Other fixed assets
**TOTAL FUNDS**|Incoming
resources
£
376,066
96,550
-
96,550
472,616|Resources
Movement
expended
in funds
£
£
(317,981)
58,085
(112,503)
(15,953)
(2,513)
(2,513)
(115,016)
(18,466)
(432,997)
39,619| |---|---|---| ## **12. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31st August 2020. ## **13. FLYING START** The restricted fund is based on money received from 'Flying Start', a government initiative implemented in areas of economic difficulty and is used to provide preschool education. Funds received from The Development Bank of Wales, specifically for the purposes of replenishing reserves also form part of the restricted fund. ## **14. LIABILITY OF MEMBERS** Every member of the charity undertakes to contribute such amount as may be required (not exceeding £1) to the charity's assets if it should be wound up while he/she is a member or within one year after he/she ceases to be a member, for the payment of the charity's debts and liabilities contracted before he/she ceases to be a member, and of the costs, charges nad expenses of winding up, and for the adjustment rights of the contributors among themselves. Page 15 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2020** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Charitable activities**
Fundraising
30 Hours
Fees
Flying Start
Grants
Assisted Places
Dinners
1:1 Funding
**Total incoming resources**
**EXPENDITURE**
**Support costs**
**Governance costs**
Wages
Accountancy fees
Groceries
Training
Fuel/Escorts
Admin
Rent
Licences
Membership
Trips/Treats
Uniform
Equipment
Insurance
Utilities
Building
Depreciation
Donations
Bank interest
Carried forward|2020
£
22,535
810
61,895
144,897
92,781
102,625
6,158
-
1,502
410,668
433,203
338,324
2,160
17,579
540
2,509
4,002
13,903
294
252
324
271
5,005
2,672
7,721
43,517
8,449
57
184
447,763|2019
£
2,621
2,094
102,330
236,187
96,550
19,055
13,280
29
470| |---|---|---| |||469,995| |||472,616
334,560
2,160
19,721
2,365
4,212
5,089
17,204
286
356
113
804
2,717
2,045
8,202
27,776
4,362
158
263
432,393| This page does not form part of the statutory financial statements Page 16 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2020** |**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31ST AUGUST 2020**||| |---|---|---| |**Governance costs**
Brought forward
Bank loan interest
PAYE interest
Total resources expended
**Net (expenditure)/income**|2020
£
447,763
693
6
448,462
448,462
(15,259)|2019
£
432,393
602
2| |||432,997| |||432,997| |||39,619| This page does not form part of the statutory financial statements Page 17 **REGISTERED COMPANY NUMBER: 06495575 (England and Wales) REGISTERED CHARITY NUMBER: 1126728** ## **REPORT OF THE TRUSTEES AND** ## **FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31ST AUGUST 2020** ## **FOR** **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** Green & Co Chartered Certified Accountants Pembroke House Llantarnam Park Way Cwmbran Torfaen NP44 3AU **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2020** ||**Page**| |---|---| |**Report of the Trustees**|1 to 5| |**Independent Examiner's Report**|6| |**Statement of Financial Activities**|7| |**Balance Sheet**|8 to 9| |**Notes to the Financial Statements**|10 to 15| |**Detailed Statement of Financial Activities**|16 to 17| **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st August 2020. The trustees have adopted the provisions of 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) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **At Busy Bees we aim to:-** o Promote a community ethos where adults and children can reach their full potential. o Provide a warm, caring, inclusive and family environment for children aged 0 - 11 years, where each child and adult is treated as an individual and their unique qualities are recognised and celebrated. o To enable children's learning by providing experiences and opportunities that are fun, stimulating and appropriate. ## **Ensuring our work delivers our aims** o Continually monitoring local demands and requirements so we can offer a service that is flexible and accessible. o Liaising with members of the community such as Health visitors and school representative, as well as employers, trade associations and local community groups. o Ensuring our facilities are safe and secure and an appropriate environment for our activities. ## **How our activities deliver public benefit** o Affordable quality childcare enables parents to continue or return to work, improve their skills with training and further education. This includes escorting children to and from school and nursery for parents that would be unable to work without our services. o Allowing community groups to utilise our facilities to run activities and meetings. o Supporting families in need of respite or childcare to enable them to better their quality of life for themselves and their children. o Actively employing local people and providing on the job training and experience opportunities for students. o Working in tandem with local health professionals to target families in need and delivering a service that improves the quality of life of the whole family. Page 1 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020** ## **FINANCIAL REVIEW** Busy Bees has managed to continue throughout the Covid-19 crisis, and provided an important service under very trying circumstances. In the Summer, we did not know if we would still be here, or whether we would be able to keep all of our staff on. Through a lot of hard work, funding and government schemes, we have managed to stay open and retain all of our staff - although staff have been affected by periods of isolation, furlough and reduced hours. We received funding from the Childcare Offer Team for equipment to make our premises safer, for staff, children and parents. We relied heavily on the furlough scheme to retain our staff. We had a part loan-part grant from the WCVA which helped us with cashflow issues. We were lucky as we went into the crisis with some reserves, partly due to the loan we took out in 2018; but mainly as in the Autumn we received a bequeathment from a long standing supporter of Busy Bees, Mr Domingo. This money made a massive difference and it is difficult to say whether we would be in the same position without it. During the 19/20 period we launched into a very ambitious building project - 80% of which was funded by the Rural Development Fund. This involved remodelling the under 2's department, building new storage areas, a new pre-school bathroom, and a mezzaine floor above which now houses our staff kitchen and break area. Overall, this went smoothly, we made some compromises at the end (e.g. we were unable to replace the floor in the preschool) as the initial lockdown started as the builder was finishing. This poor timing meant that we had trouble with contractors due to availability of suppliers and ensuring we had use of the room in order to have enough space for the children who needed care. The funding was paid after the work had been completed and there was a lot of paperwork in order to access the money. There was a very sticky period when we were expecting around £30,000 in funding for work carried out and it took nearly three months to be paid. We will look at the outstanding works in the future, plus we need to address the roof. We have had some maintenance over the past few years, but it may be that a big job is on the horizon. We are also looking at covering the outside entrance area. Utility costs reduced by nearly 20% in 17/18 - 18/19, due to the improved boiler and monitoring. We were expecting about the same this year, but there was a 5% decrease in overall bills. Staff costs rose again in April in line with minimum wage increases - without Covid-19 it would have been an increase of around £2,000 per month. Last year we had a fees overhaul to better reflect how families use Busy Bees. This year we only increased the sections that did not have an increase last year. This was by the usual 5%. Fees overall decreased by 35%, which is not as bad as it could have been. We did not carry out any fundraising after Christmas, so this figure is greatly reduced on what we expected. Overall it could have been a lot worse. Moving into 20-21 we have started to stabilise our income again. We have invested in an app, which will reduce the amount of paperwork needed, streamline admin and improve the invoicing and payment system. It will also improve communication between staff and parents. We will monitor this to ensure it is value for money. Wages continue to rise as we have had to change the way we staff the nursery in order to be as safe as possible. We must continue to constantly evaluate every hour and every purchase in order to make sure Busy Bees runs a high-quality service and can pay its bills. ## **Principle Funding Sources** Aside from the principle income generated by the services we provide, we continue to receive funding from Torfaen County Borough Council to provide Free Flying Start preschool places within both Busy Bees Blaenavon and at BIC, and from September 2018 many families access the free 30 hours childcare offer. Page 2 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS** **CLUB** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The organisation is a charitable company limited by guarantee, incorporated on the 6th of February 2008 and registered as a charity on the 30th of June 2008. The company was established under a Memorandum of Association which established 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. ## **Recruitment and appointment of Management Committee** The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Management committee. All members of the Management Committee give their time voluntarily and receive no benefit from the charity. C F Boddington, S J Driscoll, S M Gallear, T J John, S Thomas and J Walters are trustees and employees of the charity but only receive remuneration for their employment roles. The Management Board has a mix of parents and staff to ensure that all aspects are covered and that it can be functional as a Board. ## **Organisational structure** Busy Bees has a Management Board of ten members who meet monthly and are responsible for the strategic direction and policy of the charity. The Management Board at present has several members from professional backgrounds and several who do not in order to fully represent the community we support. A Management structure is in place. Day to day responsibility for smooth running rests with the Nursery Manager, supported by three deputy managers and supervisors. The Nursery Manager reports to the Management Board. Page 3 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS** **CLUB** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Responsibilities of the Management Committee** Company law requires the Management Committee to prepare financial statements for each financial year which give a true and fair view of the affairs of the 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 management board should follow best practices and: o Select suitable accounting policies and then apply them consistently. o Make judgements and estimates that are reasonable and prudent; and o Prepare the financial statements on the going concern basis unless it is not appropriate to assume that the company will continue on that basis. The management board 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 2006. The Management Board is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Members of the Management Committee** Members of the Management Committee, 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 5. In accordance with company law, as the company directors, we certify that; So far as we are aware, there is no relevant information of which the company directors are unaware; and As the directors of the company we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant information and to establish that the management board is aware of that information. ## **Related parties** o Wales PPA o Clybiau Plant Cymru Kids Club o National Day Nurseries Association ## **Risk management** Day to day risk assessment procedures and policies are in operation throughout the nursery. These are maintained and reviewed by the Manager. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the building and to the satellite group Busy Bees at BICC. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** 06495575 (England and Wales) ## **Registered Charity number** 1126728 Page 4 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020** ## **Registered office** Busy Bees Park Street Blaenavon Pontypool Torfaen NP4 9AA ## **Trustees** C F Boddington Finance officer S J Driscoll Nursery Manager S M Gallear Childcare A L Foster Marketing Executive T J John Nursery Supervisor (resigned 11/11/2019) J M Watkins Podiatrist (resigned 1/12/2020) T R Wood Director J Walters Childcare Practitioner S Thomas Childcare Practitioner R C Redman Accountant ## **Company Secretary** C F Boddington ## **Independent Examiner** Edwin Gooderham ACA Green & Co Chartered Certified Accountants Pembroke House Llantarnam Park Way Cwmbran Torfaen NP44 3AU Approved by order of the board of trustees on 12th May 2021 and signed on its behalf by: C F Boddington - Trustee Page 5 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **Independent examiner's report to the trustees of Busy Bees Blaenavon Day Nursery And Kids Club ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st August 2020. ## **Responsibilities and basis of report** As the charity's 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 charity'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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ACA 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: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. 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 4. 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. Edwin Gooderham ACA Green & Co Chartered Certified Accountants Pembroke House Llantarnam Park Way Cwmbran Torfaen NP44 3AU 12th May 2021 Page 6 ## **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2020** |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
22,535
**Charitable activities**
Childcare
317,887
**Total**
340,422
**EXPENDITURE ON**
**Charitable activities**
Childcare
335,631
**NET INCOME/(EXPENDITURE)**
4,791
**Other recognised gains/(losses)**
Gains/(losses) on revaluation of fixed assets
(21,538)
**Net movement in funds**
(16,747)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
57,779
**TOTAL FUNDS CARRIED FORWARD**
41,032|Restricted
funds
£
-
92,781
92,781
112,831
(20,050)
21,538
1,488
(5,785)
(4,297)|2020
Total
funds
£
22,535
410,668
433,203
448,462
(15,259)
-
(15,259)
51,994
36,735|2019
Total
funds
£
2,621
469,995| |---|---|---|---| ||||472,616
432,997| ||||39,619
-| ||||39,619
12,375| ||||51,994| The notes form part of these financial statements Page 7 ## **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **BALANCE SHEET 31ST AUGUST 2020** |Unrestricted
Restricted
fund
funds
Notes
£
£
**FIXED ASSETS**
Tangible assets
6
20,768
8,569
**CURRENT ASSETS**
Debtors
7
26,339
-
Cash at bank
32,105
-
58,444
-
**CREDITORS**
Amounts falling due within one year
8
(38,180)
(4,000)
**NET CURRENT ASSETS**
20,264
(4,000)
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
41,032
4,569
**CREDITORS**
Amounts falling due after more than one year
9
-
(8,866)
**NET ASSETS**
41,032
(4,297)
**FUNDS**
11
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|2020
Total
funds
£
29,337
26,339
32,105
58,444
(42,180)
16,264
45,601
(8,866)
36,735
41,032
(4,297)
36,735|2019
Total
funds
£
13,084
46,073
18,605
64,678
(13,902)
50,776
63,860
(11,866)
51,994
57,779
(5,785)
51,994| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2020. The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2020 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements Page 8 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **BALANCE SHEET - continued 31ST AUGUST 2020** These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 12th May 2021 and were signed on its behalf by: S J Driscoll - Trustee The notes form part of these financial statements Page 9 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2020** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** 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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings - 25% on reducing balance Motor vehicles - 25% on reducing balance Office equipment - 20% on cost ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 10 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2020** ## **2. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): ||2020|2019| |---|---|---| ||£|£| |Depreciation - owned assets|8,448|4,364| ## **3. TRUSTEES' REMUNERATION AND BENEFITS** C F Boddington, S J Driscoll, S M Gallear, T J John, S Thomas and J Walters were employees and trustees of the charity during the year. The employees were paid solely for their roles in childcare, management and administration. No remuneration or benefits were given for acting as a trustee of the charity. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31st August 2020 nor for the year ended 31st August 2019. ## **4. STAFF COSTS** The average monthly number of employees during the year was as follows: |Manager
Deputy Manager
Supervisor
Assistant
Auxiliary|2020
1
5
1
18
6
31|2019
1
5
1
19
6| |---|---|---| |||32| No employees received emoluments in excess of £60,000. ## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2,621
**Charitable activities**
Childcare
373,445
**Total**
376,066|Restricted
funds
£
-
96,550
96,550|Total
funds
£
2,621
469,995| |---|---|---| |||472,616| ## **EXPENDITURE ON** Page 11 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2020** ## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued** ||||Unrestricted|Restricted|Total| |---|---|---|---|---|---| ||||fund|funds|funds| ||||£|£|£| ||**Charitable activities**||||| ||Childcare||317,980|115,017|432,997| ||**NET INCOME/(EXPENDITURE)**||58,086|(18,467)|39,619| ||**Transfers between funds**||(19,148)|19,148|-| ||**Net movement in funds**||38,938|681|39,619| ||**RECONCILIATION OF FUNDS**||||| ||**Total funds brought forward**||18,842|(6,467)|12,375| ||**TOTAL FUNDS CARRIED FORWARD**||57,780|(5,786)|51,994| |**6.**|**TANGIBLE FIXED ASSETS**||||| |||Fixtures|||| |||and|Motor|Office|| |||fittings|vehicles|equipment|Totals| |||£|£|£|£| ||**COST**||||| ||At 1st September 2019|88,786|3,690|-|92,476| ||Additions|12,197|11,529|975|24,701| ||At 31st August 2020|100,983|15,219|975|117,177| ||**DEPRECIATION**||||| ||At 1st September 2019|78,469|923|-|79,392| ||Charge for year|4,678|3,575|195|8,448| ||At 31st August 2020|83,147|4,498|195|87,840| ||**NET BOOK VALUE**||||| ||At 31st August 2020|17,836|10,721|780|29,337| ||At 31st August 2019|10,317|2,767|-|13,084| Page 12 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2020** ## **7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |2020
£
Trade debtors
24,699
Other debtors
-
Prepayments
1,640
26,339
**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2020
£
Bank loans and overdrafts (see note 10)
4,000
Other loans (see note 10)
8,125
Trade creditors
7,294
Social security and other taxes
1,649
Accruals and deferred income
21,112
42,180
**9.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
2020
£
Bank loans (see note 10)
8,866
**10.**
**LOANS**
An analysis of the maturity of loans is given below:
2020
£
Amounts falling due within one year on demand:
Bank loans
4,000
Other loans
8,125
12,125
Amounts falling between one and two years:
Bank loans
4,000
Amounts falling due between two and five years:
Bank loans
4,866|2019
£
28,133
17,940
-|2019
£
28,133
17,940
-| |---|---|---| ||46,073|| ||2019
£
4,000
-
4,573
2,789
2,540|| ||13,902|| ||2019
£
11,866|| |||2019
£
4,000
-| |||4,000| |||4,000| |||7,866| Page 13 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2020** ## **11. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
Other fixed assets
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
340,422
**Restricted funds**
Restricted fund
92,781
Other fixed assets
-
92,781
**TOTAL FUNDS**
433,203|At 1.9.19
£
57,779
(13,326)
7,541
(5,785)
51,994
Resources
expended
£
(335,631)
(111,700)
(1,131)
(112,831)
(448,462)|Net
movement
At
in funds
31.8.20
£
£
(16,747)
41,032
2,619
(10,707)
(1,131)
6,410
1,488
(4,297)
(15,259)
36,735
Gains and
Movement
losses
in funds
£
£
(21,538)
(16,747)
21,538
2,619
-
(1,131)
21,538
1,488
-
(15,259)| |---|---|---| ## **Comparatives for movement in funds** |||Net|Transfers|| |---|---|---|---|---| |||movement|between|At| ||At 1.9.18|in funds|funds|31.8.19| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|18,842|58,085|(19,148)|57,779| |**Restricted funds**||||| |Restricted fund|(16,521)|(15,953)|19,148|(13,326)| |Other fixed assets|10,054|(2,513)|-|7,541| ||(6,467)|(18,466)|19,148|(5,785)| |**TOTAL FUNDS**|12,375|39,619|-|51,994| Page 14 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2020** ## **11. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
Other fixed assets
**TOTAL FUNDS**|Incoming
resources
£
376,066
96,550
-
96,550
472,616|Resources
Movement
expended
in funds
£
£
(317,981)
58,085
(112,503)
(15,953)
(2,513)
(2,513)
(115,016)
(18,466)
(432,997)
39,619| |---|---|---| ## **12. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31st August 2020. ## **13. FLYING START** The restricted fund is based on money received from 'Flying Start', a government initiative implemented in areas of economic difficulty and is used to provide preschool education. Funds received from The Development Bank of Wales, specifically for the purposes of replenishing reserves also form part of the restricted fund. ## **14. LIABILITY OF MEMBERS** Every member of the charity undertakes to contribute such amount as may be required (not exceeding £1) to the charity's assets if it should be wound up while he/she is a member or within one year after he/she ceases to be a member, for the payment of the charity's debts and liabilities contracted before he/she ceases to be a member, and of the costs, charges nad expenses of winding up, and for the adjustment rights of the contributors among themselves. Page 15 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2020** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Charitable activities**
Fundraising
30 Hours
Fees
Flying Start
Grants
Assisted Places
Dinners
1:1 Funding
**Total incoming resources**
**EXPENDITURE**
**Support costs**
**Governance costs**
Wages
Accountancy fees
Groceries
Training
Fuel/Escorts
Admin
Rent
Licences
Membership
Trips/Treats
Uniform
Equipment
Insurance
Utilities
Building
Depreciation
Donations
Bank interest
Carried forward|2020
£
22,535
810
61,895
144,897
92,781
102,625
6,158
-
1,502
410,668
433,203
338,324
2,160
17,579
540
2,509
4,002
13,903
294
252
324
271
5,005
2,672
7,721
43,517
8,449
57
184
447,763|2019
£
2,621
2,094
102,330
236,187
96,550
19,055
13,280
29
470| |---|---|---| |||469,995| |||472,616
334,560
2,160
19,721
2,365
4,212
5,089
17,204
286
356
113
804
2,717
2,045
8,202
27,776
4,362
158
263
432,393| This page does not form part of the statutory financial statements Page 16 **BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2020** |**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31ST AUGUST 2020**||| |---|---|---| |**Governance costs**
Brought forward
Bank loan interest
PAYE interest
Total resources expended
**Net (expenditure)/income**|2020
£
447,763
693
6
448,462
448,462
(15,259)|2019
£
432,393
602
2| |||432,997| |||432,997| |||39,619| This page does not form part of the statutory financial statements Page 17