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Busy Bees Blaenavon Day Nursery and Kids Club Ltd
Trustees Annual Report
September 2021-2022
Busy Bees
2021 - 2022
Busy Bees Blaenavon Day Nursery and Kids Club Trustees Annual Report 2022
Management Board Report for the year ended 31[st] August 2022
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 Susan Driscoll Sophie Gallear Joanne Walters Stacey Thomas Ryan Redman
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
2021-2022 was another difficult year for Busy Bees, the previous year saw the initial impact of the covid crisis, however the effects continued to be felt. We have not managed to start rebuilding our savings, and in December 2021 we had to take out a new loan to cover the deficit caused by the lack of income in 2020 and the ongoing difficulties with cash flow. We moved forward the fee increase from September to April to cope with the increase in minimum wage.
Since we have received the loan, we have become more stable, and look to continue to be so at the present time. Well done to all staff for continuing their hard work, and for the patience while we battle the ongoing challenges.
Compared to the previous year (2020-2021), fees have increased by 44%, however the previous years fees were heavily affected by covid. Wages have increased by 26%, this is partly due to increased children and partly due to increased minimum wage. Our administrative costs increased by 33%, this includes the utilities, and all other costs (except wages) Overall income has increased by 36% ,which is promising, but we must bear in mind that our income is heavily dependant on the number of children
attending and eligible for funding (Flying Start, assisted places, 30 hours childcare) and is impossible to predict year on year.
We did not make any large purchases this year and worked hard to keep our bills down as much as possible. Moving forward, we will continue to build on the hard work of this year. We will need to address the issue of the roof, and we will seek support for this. The minibus may also need replacing, so we will need to factor that into our budget. We are also in the process of refining the staff structure which should ensure staff pay reflects the roles that are worked.
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 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.
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 2022
THE FIGURES FOR 2021/2022 ARE NOT CONFIRMED AT THIS POINT. THEY WILL BE AFTER THE ACCOUNTANTS HAVE PROCESSED THEM
*Due to the move to Xero, our categories of income and expenditure have changed
Opening balance 1/9/2020 £2182.78
| 2017/2018 | 2018/2019 | 2019/2020 | 2020/2021 | 2021/2022 | |
|---|---|---|---|---|---|
| Turnover | |||||
| Interest Income Other revenue 30 Hours Childcare Offer Fees FlyingStart TCBC income |
£2.38 | ||||
| -£56.52 | |||||
| £102,330.00 | £61,895.00 | £68,712.77 | £90,268.38 | ||
| £252,063.00 | £228,744.00 | £148,331.00 | £181,806.70 | £260,116.84 | |
| £87,950.00 | £96,550.00 | £92,781.00 | £65,621.40 | £83,440.01 | |
| £4,766.00 | £13,750.00 | £11,310.00 | £30,118.60 | £39,103.63 | |
| Total Turnover | £344,779.00 | £441,374.00 | £314,317.00 | £346,259.47 | £472,874.72 |
| Other income | |||||
|---|---|---|---|---|---|
| Bethlehem Congregational Church | -£342.08 | ||||
| Fundraisingand Donations | £1,396.00 | £2,094.00 | £801.00 | £453.92 | £2,229.64 |
| Grants | £2,850.00 | £11,905.00 | £89,982.00 | £14,089.68 | £13,254.95 |
| HMRC JRS Grants | £3,985.73 | ||||
| Kickstarter | £1,882.32 | ||||
| Donations | £3,553.00 | £2,462.00 | £22,477.00 | £210.01 | now in Fundraising |
| Total other Income | £7,799.00 | £16,461.00 | £113,260.00 | £14,753.61 | £21,010.56 |
| Total Income | £352,578.00 | £457,835.00 | £427,577.00 | £361,013.08 | £493,885.28 |
| Cost of Sales | |||||
|---|---|---|---|---|---|
| Direct Wages | £299,258.00 | £334,560.00 | £279,574.00 | £308,894.00 | £381,880.80 |
| SMP Compensation | -£242.14 | ||||
| SMP Reclaim | -£8,072.87 | ||||
| Total Cost of Sales | £299,258.00 | £334,560.00 | £279,574.00 | £308,894.00 | £373,565.79 |
Wages are now split up. For reference the total wages for 2021-2022 were £389,565.60, an increase of just over 26%
| Administrative Costs | |||||
|---|---|---|---|---|---|
| AccountancyFees | £1,920.00 | £2,160.00 | £2,160.00 | £2,160.00 | £2,270.68 |
| Bank Fees(was bank fees and interest) | £225.00 | £263.00 | -£25.00 | £165.00 | £317.61 |
| Charitable and Political Donations(RBL,OMJ,FPIES,Sparkle) | £1,029.78 | ||||
| PPE/Cleaning (previously part ofgroceries) | - | - | - | £6,481.59 | £7,324.31 |
| Employers National Insurance(previously part of wages) | £12,379.73 | ||||
| Equipment(was Equipment/Resources) | £1,759.00 | £2,717.00 | £33,136.00 | £6,383.00 | £2,007.49 |
| General Expenses | £5,252.19 | ||||
| Groceries/Consumables | £16,340.00 | £19,721.00 | £17,776.00 | £12,440.00 | £15,388.72 |
| Insurance | £1,215.00 | £2,045.00 | £3,667.00 | £4,581.00 | £2,153.70 |
| Interest Paid | £62.06 | ||||
| IT Software and Consumables | £2,604.94 | ||||
| Light,Power,Heating (was Utilities) | £10,063.00 | £8,202.00 | £7,721.00 | £9,206.00 | £8,693.98 |
| Motor Vehicle Expenses(was Fuel/Escorts) | £2,250.00 | £4,212.00 | £3,154.00 | £2,219.00 | £7,288.80 |
| Pension Costs(was within wages) | £3,620.08 | ||||
| Postage Freight and courier(was in admin) | £16.15 | ||||
| Printingand Stationary (was in admin) | £1,878.44 | ||||
| Rates(prevoiuslyin building) | £2,660.00 | ||||
| Rent | £10,357.00 | £17,204.00 | £13,904.00 | £15,461.00 | £16,599.74 |
| Repairs and Maintenance(previouslyin building) | £1,522.39 | ||||
| Resources(was consumables/equipment) | £2,277.63 | ||||
| Training (was training/Uniform) | £2,640.00 | £3,169.00 | £811.00 | £1,962.00 | £2,028.00 |
| Uniform | £198.75 | ||||
| Telephone and internet(was utilities) | £763.57 | ||||
| Trips/Treats | £60.00 | £113.00 | £324.00 | £37.00 | £80.80 |
| Admin | £3,514.00 | £5,089.00 | £540.00 | £4,260.00 | Now in accountancy/printi ng and stationary/postage /general expenses |
| Licences/membership | £492.00 | £642.00 | £545.00 | £260.00 | Now in general expenses |
| Building | £7,145.00 | £27,776.00 | £43,517.00 | £8,149.00 | Now in repairs/general expenses |
| Total Administrative Costs | £57,980.00 | £93,313.00 | £127,230.00 | £73,764.59 | £98,419.54 |
| Loan Repayments | 4644.72 | £3,693.54 | 5478 | 12051.44 | |
| Loans received | 20000 | 8125 | 24640.96 |
Closing Balance 31/08/2021 £36672.25
Profit for year £34,489.47
Busy Bees Blaenavon Day Nursery and Kids Club
The average number of employees during the year, including full time and part time positions
| 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Manager | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Deputy manager | 3 | 3 | 3 | 3 | 3 | 3 | 5 | 5 | 5 | 5 | 5 |
| Supervisor | 3 | 4 | 4 | 3 | 2 | 2 | 1 | 1 | 1 | 1 | 2 |
| Assistant | 15 | 16 | 16 | 19 | 20 | 20 | 20 | 19 | 19 | 18 | 21 |
| Auxiliary | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 5 | 6 | 6 | 7 |
| total | 25 | 27 | 27 | 30 | 30 | 30 | 31 | 31 | 33 | 31 | 36 |
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 2022
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 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 5 |
| Independent Examiner's Report | 6 to 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 to 10 |
| Cash Flow Statement | 11 |
| Notes to the Cash Flow Statement | 12 to 13 |
| Notes to the Financial Statements | 14 to 22 |
| Detailed Statement of Financial Activities | 23 to 24 |
BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2022
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 2022. 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 representatives, 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 2022
STRATEGIC REPORT
2021-2022 was another difficult year for Busy Bees, the previous year saw the initial impact of the Covid crisis, however the effects continued to be felt. We have not managed to start rebuilding our savings, and in December 2021, we had to take out a new loan to cover the deficit caused by the lack of income in 2020 and the ongoing difficulties with cash flow. We moved forward the fee increase from September to April to cope with the increase in minimum wage.
Since we have received the loan, we have become more stable, and look to continue to be so at the present time. Well done to all staff for continuing their hard work, and for the patience while we battle the ongoing challenges.
Compared to the previous year (2020-2021), fees have increased by 46.19%, however the previous years fees were heavily affected by Covid. Wages have increased by 2.36%, this is partly due to an increase in the number of children and partly due to increased minimum wage. Our administrative costs increased by 2.32%, this includes the utilites, and all other costs (except wages).
Overall income has increased by 22.49%, which is promising, but we must bear in mind that our income is heavily dependant on the number of children attending and eligible for funding (Flying Start, assisted places, 30 hours childcare) and it is impossible to predict year on year.
We did not make any large purchases this year and worked hard to keep our bills down as much as possible. Moving forward, we will continue to build on the hard work of this year. We will need to address the issue of the roof, and we will seek support for this. The minibus may also need replacing, so we will need to factor that in to our budget. We are also in the process of refining the staff structure which should ensure staff pay reflects the roles that are worked.
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 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 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.
Page 2
BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
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, 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 six 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 2022
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)
Page 4
BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2022
Registered Charity number
1126728
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 T R Wood Director J Walters Childcare Practitioner S Thomas Childcare Practitioner R C Redman Accountant
Company Secretary
C F Boddington
Independent Examiner
Scott Harris FCCA Green & Co Chartered Certified Accountants Pembroke House Llantarnam Park Way Cwmbran Torfaen NP44 3AU
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 23rd May 2023 and signed on the board's 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 2022.
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.
Page 6
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
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 member of the Association of Chartered Certified Accountants, 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:
-
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.
Scott Harris FCCA
Green & Co Chartered Certified Accountants Pembroke House Llantarnam Park Way Cwmbran Torfaen NP44 3AU
23rd May 2023
Page 7
BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 - Charitable activities 3 Childcare 422,791 Total 422,791 EXPENDITURE ON Charitable activities 4 Childcare 367,096 NET INCOME/(EXPENDITURE) 55,695 Transfers between funds 15 (6,179) Net movement in funds 49,516 RECONCILIATION OF FUNDS Total funds brought forward (7,677) TOTAL FUNDS CARRIED FORWARD 41,839 |
Restricted funds £ - 83,440 83,440 113,263 (29,823) 6,179 (23,644) (2,174) (25,818) |
2022 Total funds £ - 506,231 506,231 480,359 25,872 - 25,872 (9,851) 16,021 |
2021 Total funds £ 208 413,276 413,484 460,070 (46,586) - (46,586) 36,735 (9,851) |
|---|---|---|---|
The notes form part of these financial statements
Page 8
BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
BALANCE SHEET 31ST AUGUST 2022
| Unrestricted Restricted fund funds Notes £ £ FIXED ASSETS Tangible assets 10 12,328 5,462 CURRENT ASSETS Debtors 11 24,022 - Cash at bank and in hand 26,694 - 50,716 - CREDITORS Amounts falling due within one year 12 (21,204) (8,506) NET CURRENT ASSETS/(LIABILITIES) 29,512 (8,506) TOTAL ASSETS LESS CURRENT LIABILITIES 41,840 (3,044) CREDITORS Amounts falling due after more than one year 13 - (22,775) NET ASSETS/(LIABILITIES) 41,840 (25,819) FUNDS 15 Unrestricted funds Restricted funds TOTAL FUNDS |
2022 Total funds £ 17,790 24,022 26,694 50,716 (29,710) 21,006 38,796 (22,775) 16,021 41,840 (25,819) 16,021 |
2021 Total funds £ 23,785 22,554 3,729 26,283 (54,462) (28,179) (4,394) (5,457) (9,851) (7,677) (2,174) (9,851) |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2022 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
continued...
Page 9
BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
BALANCE SHEET - continued 31ST AUGUST 2022
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 financial statements were approved by the Board of Trustees and authorised for issue on 23rd May 2023 and were signed on its behalf by:
S J Driscoll - Trustee
The notes form part of these financial statements
Page 10
BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Interest element of hire purchase or finance lease rental payments paid Interest paid Net cash provided by/(used in) operating activities Cash flows from financing activities New loans in year Loan repayments in year Net cash provided by/(used in) financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 2 Cash and cash equivalents at the end of the reporting period 2 |
2022 £ 10,135 (1) 1,786 11,920 21,991 (9,401) 12,590 24,510 2,184 26,694 |
2021 £ (25,836) - 1,393 (24,443) - (5,478) (5,478) (29,921) 32,105 2,184 |
|---|---|---|
The notes form part of these financial statements
Page 11
BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2022
1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest element of hire purchase and finance lease rental payments (Increase)/decrease in debtors (Decrease)/increase in creditors Net cash provided by/(used in) operations 2. ANALYSIS OF CASH AND CASH EQUIVALENTS Cash in hand Notice deposits (less than 3 months) Overdrafts included in bank loans and overdrafts falling due within one year Total cash and cash equivalents |
2022 £ 25,872 5,995 1 (1,468) (20,265) 10,135 2022 £ 1,635 25,059 - 26,694 |
2021 £ (46,586) 5,551 - 3,785 11,414 (25,836) 2021 £ 106 3,623 (1,545) 2,184 |
|---|---|---|
The notes form part of these financial statements
Page 12
BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2022
3. ANALYSIS OF CHANGES IN NET DEBT
| At 1.9.21 | Cash flow | At 31.8.22 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 3,729 | 22,965 | 26,694 |
| Bank overdraft | (1,545) | 1,545 | - |
| 2,184 | 24,510 | 26,694 | |
| Debt | |||
| Debts falling due within 1 year | (11,448) | 2,942 | (8,506) |
| Debts falling due after 1 year | (5,457) | (17,318) | (22,775) |
| (16,905) | (14,376) | (31,281) | |
| Total | (14,721) | 10,134 | (4,587) |
The notes form part of these financial statements
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BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2022
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.
continued...
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BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
| 2. DONATIONS AND LEGACIES Donations 3. INCOME FROM CHARITABLE ACTIVITIES Activity Fundraising Childcare 30 Hours Childcare Fees Childcare Flying Start Childcare Grants Childcare Assisted Places Childcare Sundry income Childcare 4. CHARITABLE ACTIVITIES COSTS Childcare 5. SUPPORT COSTS Childcare |
2022 2021 £ £ - 208 2022 2021 £ £ 2,230 454 90,268 68,713 262,111 179,299 83,440 65,621 29,015 69,070 39,104 30,119 63 - 506,231 413,276 Support costs (see note 5) £ 480,359 Governance costs £ 480,359 |
|---|---|
Page 15
continued...
BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
6. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 5,995 | 5,552 |
7. TRUSTEES' REMUNERATION AND BENEFITS
C F Boddington, S J Driscoll, S M Gallear, 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 2022 nor for the year ended 31st August 2021.
8. STAFF COSTS
| Wages and salaries | 2022 £ 386,522 386,522 |
2021 £ 377,413 |
|---|---|---|
| 377,413 |
The average monthly number of employees during the year was as follows:
| Manager Deputy Manager Supervisor Assistant Auxiliary |
2022 1 4 1 24 4 34 |
2021 1 5 1 18 6 |
|---|---|---|
| 31 |
No employees received emoluments in excess of £60,000.
Page 16
continued...
BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
| 9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 208 - Charitable activities Childcare 347,655 65,621 Total 347,863 65,621 EXPENDITURE ON Charitable activities Childcare 357,180 102,890 NET INCOME/(EXPENDITURE) (9,317) (37,269) Transfers between funds (39,394) 39,394 Net movement in funds (48,711) 2,125 RECONCILIATION OF FUNDS Total funds brought forward 41,032 (4,297) TOTAL FUNDS CARRIED FORWARD (7,679) (2,172) |
Total funds £ 208 413,276 413,484 460,070 (46,586) - (46,586) 36,735 (9,851) |
|---|---|
continued...
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BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
10. TANGIBLE FIXED ASSETS
| Fixtures and Motor fittings vehicles £ £ COST At 1st September 2021 and 31st August 2022 100,983 15,219 DEPRECIATION At 1st September 2021 85,823 7,179 Charge for year 3,790 2,010 At 31st August 2022 89,613 9,189 NET BOOK VALUE At 31st August 2022 11,370 6,030 At 31st August 2021 15,160 8,040 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments |
Office equipment £ 975 390 195 585 390 585 2022 £ 20,931 405 2,686 24,022 |
Totals £ 117,177 |
Totals £ 117,177 |
|---|---|---|---|
| 93,392 5,995 |
|||
| 99,387 | |||
| 17,790 | |||
| 23,785 | |||
| 2021 £ 21,288 - 1,266 |
|||
| 22,554 |
continued...
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BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
| 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £ Bank loans and overdrafts (see note 14) 8,506 Other loans (see note 14) - Trade creditors 5,121 Social security and other taxes 2,596 Other creditors 529 Accruals and deferred income 12,958 29,710 13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2022 £ Bank loans (see note 14) 22,775 14. LOANS An analysis of the maturity of loans is given below: 2022 £ Amounts falling due within one year on demand: Bank overdrafts - Bank loans 8,506 Other loans - 8,506 Amounts falling between one and two years: Bank loans 5,858 Amounts falling due between two and five years: Bank loans 16,917 |
2021 £ 5,545 7,448 5,235 7,175 - 29,059 |
|---|---|
| 54,462 | |
| 2021 £ 5,457 |
|
| 2021 £ 1,545 4,000 7,448 |
|
| 12,993 | |
| 4,000 | |
| 1,457 |
continued...
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BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
15. MOVEMENT IN FUNDS
| At 1.9.21 £ Unrestricted funds General fund (7,677) Restricted funds Restricted fund (7,622) Other fixed assets 5,448 (2,174) TOTAL FUNDS (9,851) Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Restricted fund Other fixed assets TOTAL FUNDS |
Net movement in funds £ 55,696 (29,365) (459) (29,824) 25,872 Incoming resources £ 422,791 83,440 - 83,440 506,231 |
Transfers between At funds 31.8.22 £ £ (6,179) 41,840 6,179 (30,808) - 4,989 6,179 (25,819) - 16,021 Resources Movement expended in funds £ £ (367,095) 55,696 (112,805) (29,365) (459) (459) (113,264) (29,824) (480,359) 25,872 |
|---|---|---|
continued...
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BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
15. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | Transfers | |||
|---|---|---|---|---|
| movement | between | At | ||
| At 1.9.20 | in funds | funds | 31.8.21 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 41,032 | (9,315) | (39,394) | (7,677) |
| Restricted funds | ||||
| Restricted fund | (10,707) | (36,309) | 39,394 | (7,622) |
| Other fixed assets | 6,410 | (962) | - | 5,448 |
| (4,297) | (37,271) | 39,394 | (2,174) | |
| TOTAL FUNDS | 36,735 | (46,586) | - | (9,851) |
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 £ 347,863 65,621 - 65,621 413,484 |
Resources Movement expended in funds £ £ (357,178) (9,315) (101,930) (36,309) (962) (962) (102,892) (37,271) (460,070) (46,586) |
|---|---|---|
continued...
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BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st August 2022.
17. 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.
18. 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.
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BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Charitable activities Fundraising 30 Hours Fees Flying Start Grants Assisted Places Sundry income 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 Carried forward |
2022 £ - 2,230 90,268 262,111 83,440 29,015 39,104 63 506,231 506,231 386,522 3,000 15,476 2,028 5,914 5,059 16,600 333 362 81 199 2,232 2,108 12,118 452,032 |
2021 £ 208 454 68,713 179,299 65,621 69,070 30,119 - |
|---|---|---|
| 413,276 | ||
| 413,484 377,413 2,832 21,324 1,864 2,219 4,220 15,460 301 - 37 98 3,981 4,954 9,207 443,910 |
This page does not form part of the statutory financial statements
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BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2022
| Governance costs Brought forward Building Resources and consumables Sundry expenses Depreciation Donations Bank interest Bank loan interest PAYE interest Bad debts Total resources expended Net income/(expenditure) |
2022 £ 452,032 14,049 2,285 517 5,995 843 378 1,786 68 2,406 480,359 480,359 25,872 |
2021 £ 443,910 8,150 - - 5,551 - 164 1,392 - 903 460,070 460,070 (46,586) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 24
REGISTERED COMPANY NUMBER: 06495575 (England and Wales) REGISTERED CHARITY NUMBER: 1126728
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2022
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 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 5 |
| Independent Examiner's Report | 6 to 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 to 10 |
| Cash Flow Statement | 11 |
| Notes to the Cash Flow Statement | 12 to 13 |
| Notes to the Financial Statements | 14 to 22 |
| Detailed Statement of Financial Activities | 23 to 24 |
BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2022
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 2022. 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 representatives, 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 2022
STRATEGIC REPORT
2021-2022 was another difficult year for Busy Bees, the previous year saw the initial impact of the Covid crisis, however the effects continued to be felt. We have not managed to start rebuilding our savings, and in December 2021, we had to take out a new loan to cover the deficit caused by the lack of income in 2020 and the ongoing difficulties with cash flow. We moved forward the fee increase from September to April to cope with the increase in minimum wage.
Since we have received the loan, we have become more stable, and look to continue to be so at the present time. Well done to all staff for continuing their hard work, and for the patience while we battle the ongoing challenges.
Compared to the previous year (2020-2021), fees have increased by 46.19%, however the previous years fees were heavily affected by Covid. Wages have increased by 2.36%, this is partly due to an increase in the number of children and partly due to increased minimum wage. Our administrative costs increased by 2.32%, this includes the utilites, and all other costs (except wages).
Overall income has increased by 22.49%, which is promising, but we must bear in mind that our income is heavily dependant on the number of children attending and eligible for funding (Flying Start, assisted places, 30 hours childcare) and it is impossible to predict year on year.
We did not make any large purchases this year and worked hard to keep our bills down as much as possible. Moving forward, we will continue to build on the hard work of this year. We will need to address the issue of the roof, and we will seek support for this. The minibus may also need replacing, so we will need to factor that in to our budget. We are also in the process of refining the staff structure which should ensure staff pay reflects the roles that are worked.
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 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 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.
Page 2
BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
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, 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 six 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 2022
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)
Page 4
BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2022
Registered Charity number
1126728
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 T R Wood Director J Walters Childcare Practitioner S Thomas Childcare Practitioner R C Redman Accountant
Company Secretary
C F Boddington
Independent Examiner
Scott Harris FCCA Green & Co Chartered Certified Accountants Pembroke House Llantarnam Park Way Cwmbran Torfaen NP44 3AU
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 23rd May 2023 and signed on the board's 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 2022.
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.
Page 6
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
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 member of the Association of Chartered Certified Accountants, 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:
-
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.
Scott Harris FCCA
Green & Co Chartered Certified Accountants Pembroke House Llantarnam Park Way Cwmbran Torfaen NP44 3AU
23rd May 2023
Page 7
BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 - Charitable activities 3 Childcare 422,791 Total 422,791 EXPENDITURE ON Charitable activities 4 Childcare 367,096 NET INCOME/(EXPENDITURE) 55,695 Transfers between funds 15 (6,179) Net movement in funds 49,516 RECONCILIATION OF FUNDS Total funds brought forward (7,677) TOTAL FUNDS CARRIED FORWARD 41,839 |
Restricted funds £ - 83,440 83,440 113,263 (29,823) 6,179 (23,644) (2,174) (25,818) |
2022 Total funds £ - 506,231 506,231 480,359 25,872 - 25,872 (9,851) 16,021 |
2021 Total funds £ 208 413,276 413,484 460,070 (46,586) - (46,586) 36,735 (9,851) |
|---|---|---|---|
The notes form part of these financial statements
Page 8
BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
BALANCE SHEET 31ST AUGUST 2022
| Unrestricted Restricted fund funds Notes £ £ FIXED ASSETS Tangible assets 10 12,328 5,462 CURRENT ASSETS Debtors 11 24,022 - Cash at bank and in hand 26,694 - 50,716 - CREDITORS Amounts falling due within one year 12 (21,204) (8,506) NET CURRENT ASSETS/(LIABILITIES) 29,512 (8,506) TOTAL ASSETS LESS CURRENT LIABILITIES 41,840 (3,044) CREDITORS Amounts falling due after more than one year 13 - (22,775) NET ASSETS/(LIABILITIES) 41,840 (25,819) FUNDS 15 Unrestricted funds Restricted funds TOTAL FUNDS |
2022 Total funds £ 17,790 24,022 26,694 50,716 (29,710) 21,006 38,796 (22,775) 16,021 41,840 (25,819) 16,021 |
2021 Total funds £ 23,785 22,554 3,729 26,283 (54,462) (28,179) (4,394) (5,457) (9,851) (7,677) (2,174) (9,851) |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2022 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
continued...
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BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB
BALANCE SHEET - continued 31ST AUGUST 2022
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 financial statements were approved by the Board of Trustees and authorised for issue on 23rd May 2023 and were signed on its behalf by:
S J Driscoll - Trustee
The notes form part of these financial statements
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CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Interest element of hire purchase or finance lease rental payments paid Interest paid Net cash provided by/(used in) operating activities Cash flows from financing activities New loans in year Loan repayments in year Net cash provided by/(used in) financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 2 Cash and cash equivalents at the end of the reporting period 2 |
2022 £ 10,135 (1) 1,786 11,920 21,991 (9,401) 12,590 24,510 2,184 26,694 |
2021 £ (25,836) - 1,393 (24,443) - (5,478) (5,478) (29,921) 32,105 2,184 |
|---|---|---|
The notes form part of these financial statements
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NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2022
1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest element of hire purchase and finance lease rental payments (Increase)/decrease in debtors (Decrease)/increase in creditors Net cash provided by/(used in) operations 2. ANALYSIS OF CASH AND CASH EQUIVALENTS Cash in hand Notice deposits (less than 3 months) Overdrafts included in bank loans and overdrafts falling due within one year Total cash and cash equivalents |
2022 £ 25,872 5,995 1 (1,468) (20,265) 10,135 2022 £ 1,635 25,059 - 26,694 |
2021 £ (46,586) 5,551 - 3,785 11,414 (25,836) 2021 £ 106 3,623 (1,545) 2,184 |
|---|---|---|
The notes form part of these financial statements
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NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2022
3. ANALYSIS OF CHANGES IN NET DEBT
| At 1.9.21 | Cash flow | At 31.8.22 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 3,729 | 22,965 | 26,694 |
| Bank overdraft | (1,545) | 1,545 | - |
| 2,184 | 24,510 | 26,694 | |
| Debt | |||
| Debts falling due within 1 year | (11,448) | 2,942 | (8,506) |
| Debts falling due after 1 year | (5,457) | (17,318) | (22,775) |
| (16,905) | (14,376) | (31,281) | |
| Total | (14,721) | 10,134 | (4,587) |
The notes form part of these financial statements
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2022
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.
continued...
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
| 2. DONATIONS AND LEGACIES Donations 3. INCOME FROM CHARITABLE ACTIVITIES Activity Fundraising Childcare 30 Hours Childcare Fees Childcare Flying Start Childcare Grants Childcare Assisted Places Childcare Sundry income Childcare 4. CHARITABLE ACTIVITIES COSTS Childcare 5. SUPPORT COSTS Childcare |
2022 2021 £ £ - 208 2022 2021 £ £ 2,230 454 90,268 68,713 262,111 179,299 83,440 65,621 29,015 69,070 39,104 30,119 63 - 506,231 413,276 Support costs (see note 5) £ 480,359 Governance costs £ 480,359 |
|---|---|
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
6. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 5,995 | 5,552 |
7. TRUSTEES' REMUNERATION AND BENEFITS
C F Boddington, S J Driscoll, S M Gallear, 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 2022 nor for the year ended 31st August 2021.
8. STAFF COSTS
| Wages and salaries | 2022 £ 386,522 386,522 |
2021 £ 377,413 |
|---|---|---|
| 377,413 |
The average monthly number of employees during the year was as follows:
| Manager Deputy Manager Supervisor Assistant Auxiliary |
2022 1 4 1 24 4 34 |
2021 1 5 1 18 6 |
|---|---|---|
| 31 |
No employees received emoluments in excess of £60,000.
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
| 9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 208 - Charitable activities Childcare 347,655 65,621 Total 347,863 65,621 EXPENDITURE ON Charitable activities Childcare 357,180 102,890 NET INCOME/(EXPENDITURE) (9,317) (37,269) Transfers between funds (39,394) 39,394 Net movement in funds (48,711) 2,125 RECONCILIATION OF FUNDS Total funds brought forward 41,032 (4,297) TOTAL FUNDS CARRIED FORWARD (7,679) (2,172) |
Total funds £ 208 413,276 413,484 460,070 (46,586) - (46,586) 36,735 (9,851) |
|---|---|
continued...
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
10. TANGIBLE FIXED ASSETS
| Fixtures and Motor fittings vehicles £ £ COST At 1st September 2021 and 31st August 2022 100,983 15,219 DEPRECIATION At 1st September 2021 85,823 7,179 Charge for year 3,790 2,010 At 31st August 2022 89,613 9,189 NET BOOK VALUE At 31st August 2022 11,370 6,030 At 31st August 2021 15,160 8,040 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments |
Office equipment £ 975 390 195 585 390 585 2022 £ 20,931 405 2,686 24,022 |
Totals £ 117,177 |
Totals £ 117,177 |
|---|---|---|---|
| 93,392 5,995 |
|||
| 99,387 | |||
| 17,790 | |||
| 23,785 | |||
| 2021 £ 21,288 - 1,266 |
|||
| 22,554 |
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
| 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £ Bank loans and overdrafts (see note 14) 8,506 Other loans (see note 14) - Trade creditors 5,121 Social security and other taxes 2,596 Other creditors 529 Accruals and deferred income 12,958 29,710 13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2022 £ Bank loans (see note 14) 22,775 14. LOANS An analysis of the maturity of loans is given below: 2022 £ Amounts falling due within one year on demand: Bank overdrafts - Bank loans 8,506 Other loans - 8,506 Amounts falling between one and two years: Bank loans 5,858 Amounts falling due between two and five years: Bank loans 16,917 |
2021 £ 5,545 7,448 5,235 7,175 - 29,059 |
|---|---|
| 54,462 | |
| 2021 £ 5,457 |
|
| 2021 £ 1,545 4,000 7,448 |
|
| 12,993 | |
| 4,000 | |
| 1,457 |
continued...
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
15. MOVEMENT IN FUNDS
| At 1.9.21 £ Unrestricted funds General fund (7,677) Restricted funds Restricted fund (7,622) Other fixed assets 5,448 (2,174) TOTAL FUNDS (9,851) Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Restricted fund Other fixed assets TOTAL FUNDS |
Net movement in funds £ 55,696 (29,365) (459) (29,824) 25,872 Incoming resources £ 422,791 83,440 - 83,440 506,231 |
Transfers between At funds 31.8.22 £ £ (6,179) 41,840 6,179 (30,808) - 4,989 6,179 (25,819) - 16,021 Resources Movement expended in funds £ £ (367,095) 55,696 (112,805) (29,365) (459) (459) (113,264) (29,824) (480,359) 25,872 |
|---|---|---|
continued...
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
15. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | Transfers | |||
|---|---|---|---|---|
| movement | between | At | ||
| At 1.9.20 | in funds | funds | 31.8.21 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 41,032 | (9,315) | (39,394) | (7,677) |
| Restricted funds | ||||
| Restricted fund | (10,707) | (36,309) | 39,394 | (7,622) |
| Other fixed assets | 6,410 | (962) | - | 5,448 |
| (4,297) | (37,271) | 39,394 | (2,174) | |
| TOTAL FUNDS | 36,735 | (46,586) | - | (9,851) |
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 £ 347,863 65,621 - 65,621 413,484 |
Resources Movement expended in funds £ £ (357,178) (9,315) (101,930) (36,309) (962) (962) (102,892) (37,271) (460,070) (46,586) |
|---|---|---|
continued...
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st August 2022.
17. 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.
18. 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.
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DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Charitable activities Fundraising 30 Hours Fees Flying Start Grants Assisted Places Sundry income 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 Carried forward |
2022 £ - 2,230 90,268 262,111 83,440 29,015 39,104 63 506,231 506,231 386,522 3,000 15,476 2,028 5,914 5,059 16,600 333 362 81 199 2,232 2,108 12,118 452,032 |
2021 £ 208 454 68,713 179,299 65,621 69,070 30,119 - |
|---|---|---|
| 413,276 | ||
| 413,484 377,413 2,832 21,324 1,864 2,219 4,220 15,460 301 - 37 98 3,981 4,954 9,207 443,910 |
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DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2022
| Governance costs Brought forward Building Resources and consumables Sundry expenses Depreciation Donations Bank interest Bank loan interest PAYE interest Bad debts Total resources expended Net income/(expenditure) |
2022 £ 452,032 14,049 2,285 517 5,995 843 378 1,786 68 2,406 480,359 480,359 25,872 |
2021 £ 443,910 8,150 - - 5,551 - 164 1,392 - 903 460,070 460,070 (46,586) |
|---|---|---|
This page does not form part of the statutory financial statements
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