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← Busy Bees Blaenavon Day Nursery And Kids Club

2024-08-31-accounts

Busy Bees Blaenavon Day Nursery and Kids Club Ltd

Trustees Annual Report

September 2023-2024

Busy Bees

2023 - 2024

Busy Bees Blaenavon Day Nursery and Kids Club Trustees Annual Report 2024

Management Board Report for the year ended 31[st] August 2024

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:-

Ensuring our work delivers our aims

How our activities deliver public benefit

Financial review

Our expenses, excluding wages, have been pretty steady this year overall. Some increases, but nothing major.

For the period 21/22 to 22/23 the wages rose a staggering 25%. it was just over 24% this year. Our fee income increased by only 16%. Which is good, but not enough to keep up with the rise in wages. 12% of the increase in wages was a direct result of pay rises in April 2024. The remaining 12% would be from increased staffing.

The fees were increased by 10% so there is a growth of 6% outside of the fee increase.

Our other income streams remain about the same.

We paid off our smaller loan in November, taken out in May 2020 for £8125 to help with the upheaval of Covid. We have a larger loan that is still being paid off from January 2022. We are about half way though clearing this.

Grants - we received £8,000 towards Flying Start training and the change over of Admin systems and a smaller amount for specialist toilet equipment and £1210 from the Moondance foundation. The Moondance Funding was returned in the Autumn as the children did not attend Busy Bees. We spent £5410.67 on a Shaded Shelter, tables and chairs for Bicc from grant funding received in the period 2022/2023

Our projections from September 2024 look difficult, changes by the Government to NI and pay will have a large impact in April 2025 and we were hoping for a lower fee increase this looks very unlikely.

We will have to carefully plan our wage increases to minimise the effects.

We did not do very much fundraising over the last 12 months so we may look to be increasing this.

Principle Funding Sources

Aside from the principal 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 the Registered Individual and deputy managers.. The Nursery Manager reports to the Management Board.

Related Parties

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 12/12/2023 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 2024

THE FIGURES FOR 2021/2022 ARE NOT CONFIRMED AT THIS POINT. THEY WILL BE AFTER THE ACCOUNTANTS HAVE PROCESSED THEM

Opening balance 1/9/2023 £99,585.77

2019/2020 2020/2021 2021/2022 2022/2023 2023/2024
Turnover
Interest Income £2.38 £116.76 £351.36
Other revenue -£56.52 £0.00 0
30 Hours Childcare Offer £61,895.00 £68,712.77 £90,268.38 £153,910.00 £152,182.50
Fees £148,331.
00		 £181,806.
70		 £260,116.84 £273,562.25 £319,243.04
Flying Start £92,781.0
0		 £65,621.4
0		 £83,440.01 £122,793.45 £129,918.75
TCBC income £11,310.0
0		 £30,118.6
0		 £39,103.63 £37,944.44 £38,227.74
Total Turnover £314,317.
00		 £346,259.
47		 £472,874.72 £588,326.90 £639,923.39
Other income
Bethlehem Congregational Church -£342.08 £413.72 £0
Fundraising and Donations £801.00 £453.92 £2,229.64 £414.39 £264.18
Grants £89,982.00 £14,089.68 £13,254.95 £28,403.71 £3774.18
HMRC JRS Grants £3,985.73 £0
Kickstarter £1,882.32 £0
Donations £22,477.00 £210.01 no w in Fundraising
Total other Income £113,260.00 £14,753.61 £21,010.56 £29,231.82 £4038.46
Total Income £427,577.00 £361,013.08 £493,885.28 £617,558.72 £643,961.85
Cost of Sales
Direct Wages £279,574.0
0		 £308,894.0
0		 £373,565.79 £437,741.47 £564,069.18
Total Cost of Sales £279,574.0
0		 £308,894.0
0		 £373,565.79 £437,741.47 £564,069.18
Administrative Costs
Accountancy Fees £2,160.00 £2,160.00 £2,270.68 £2,986.96 £3,291.48
Bank Fees (was bank fees and interest) -£25.00 £165.00 £317.61 £271.73 £324.00
Charitable and Political Donations (RBL,
OMJ, FPIES, Sparkle)		 £1,029.78 £258.93 £476.50
PPE/Cleaning (previously part of
groceries)		 - £6,481.59 £7,324.31 £6,412.50 £7,736.93
Employers National Insurance
(previously part of wages)		 £12,379.73 £20,458.29 £32,878.60
Equipment (was
Equipment/Resources)		 £33,136.0
0		 £6,383.00 £2,007.49 £3,642.69 £4,940.02
General Expenses £5,252.19 £6,657.88 £76,610.93
Groceries/Consumables £17,776.00 £12,440.00 £15,388.72 £18,572.64 £19,948.30
Insurance £3,667.00 £4,581.00 £2,153.70 £1,944.81 £1,985.34
Interest Paid £62.06 £0
IT Software and Consumables £2,604.94 £2,374.84 £3,624.52
Light, Power, Heating (was Utilities) £7,721.00 £9,206.00 £8,693.98 £9,195.85 £9,577.33
Motor Vehicle Expenses (was
Fuel/Escorts)		 £3,154.00 £2,219.00 £7,288.80 £4,146.80 £9,917.79
Pension Costs (was within wages) £3,620.08 £2,703.07 £8,391.18
Postage Freight and courier (was in
admin)		 £16.15 £6.65 £0
Printing and Stationary (was in admin) £1,878.44 £1,973.78 £2145.36
Rates (previously in building) £2,660.00 -£593.36 £0
Rent £13,904.00 £15,461.00 £16,599.74 £17,381.24 £17,042.92
Repairs and Maintenance (previously in
building)		 £1,522.39 £2,566.18 £638.38
Resources (was
consumables/equipment)		 £2,277.63 £3,079.93 £2.271.17
Training (was training/Uniform) £811.00 £1,962.00 £2,028.00 £837.00 £1,380.00
Uniform £198.75 £279.79 0
Telephone and internet (was IN
utilities)		 £763.57 £1,131.37 £1,212.46
Trips/Treats £324.00 £37.00 £80.80 £127.00 £340.50
Admin £540.00 £4,260.00 Now in accountancy/printing and
stationery/postage/general expenses
Licences/membership £545.00 £260.00 Now in general expenses
Building £43,517.00 £8,149.00 Now in repairs/general expenses
Total Administrative Costs £127,230.
0		 £73,764.5
9		 £98,419.54 £106,416.57 £135,697.71
Loan Repayments £3,693.54 £5478 £12051.44 £10,487.16 £7,153.32
Loans received £8125 £24640.96 £0.00 £0.00

Closing Balance 31/08/2024 £36627.41

deficit for year £62,958.36

Busy Bees Blaenavon Day Nursery and Kids Club

The average number of employees during the year, including full time and part time positions

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Manager/From
2024
Responsible
Person		 1 1 1 1 1 1 1 1 1 1
Deputy
manager/ From
2024 Person in
Charge		 3 3 5 5 5 5 5 5 5 5
Supervisor 2 2 1 1 1 1 2 1 2 2
Assistant 20 20 20 19 19 18 21 22 25 28
Auxiliary 4 4 4 5 6 6 7 6 6 6
total 30 30 31 31 33 31 36 35 39 42

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

mail@greenandco.com www.greenandco.com

Busy Bees Blaenavon Day Nursery And Kids Club Busy Bees Park Street Blaenavon Pontypool NP4 9AA

30 April 2025

Our ref: B0366L/SH/SL

Dear Cara,

FINAL ACCOUNTS

I am pleased to enclose the following:

  1. Full Accounts for the year ended 31 August 2024

Please sign these documents so that they can be filed with Companies House before 31/05/2025 to avoid any late filing penalties.

OPENING BALANCE ADJUSTMENTS

These have been updated on Xero by our bookkeeping team.

FEE

Our VAT invoice is being sent in a separate email, please pay the balance outstanding on your account of £2,100.

FEEDBACK

We will be sending you an email with a link to a short questionnaire and would be very grateful for your feedback.

Every month these are entered into a prize draw. You can either win a £50.00 tax-free gift voucher or we will donate £100 to The Alzheimer’s Society which is our nominated Charity for 2024.

Yours sincerely

Scott Harris

REGISTERED COMPANY NUMBER: 06495575 (England and Wales) REGISTERED CHARITY NUMBER: 1126728

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024

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 2024

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
Notes to the Financial Statements 13 to 20
Detailed Statement of Financial Activities 21 to 22

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024

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 2024. 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 2024

STRATEGIC REPORT

Financial position

Throughout the year, our non-wage expenses have remained relatively stable with some minor increases, none of which have been significant.

However, wages have seen a substantial rise over the past two periods. From 2021/2022 to 2022/2023, wages increased by 25%, with a similar rise of just over 24% in the current year. In comparison, our fee income grew by 16%. While this increase is positive, it has not been sufficient to fully offset the growth in wages. Of the overall wage increase, 12% was directly attributed to pay rises implemented in April 2024, with the remaining 12% resulting from an increase in staffing levels.

Fee income saw a 10% increase, which contributes to an overall growth of 6% beyond the fee adjustments. Other income streams have remained the same.

In terms of liabilities, we successfully paid off a smaller loan in November, originally taken out in May 2020 for £8,125 to support the organisation during the disruptions caused by COVID-19. We still have a larger loan, taken out in January 2022, which is currently halfway through repayment.

Additionally, we received an £8,000 grant to support the Flying Start training and the transition of our administrative systems. A smaller grant was received for the acquisition of specialist toilet equipment. Grant funding money of £5,411 from 2022/23 was allocated towards the purchase of a shaded shelter, tables, and chairs for the BICC.

Looking ahead, projections for September 2024 present challenges. Changes made by the Government to increase Employers National Insurance Contributions as well as an increase to the minimum wage, are expected to significantly impact our financial outlook from April 2025. We were hoping for a modest fee increase next year, although this appears unlikely at present. We will need to carefully plan our wage increase to minimise the effects.

Lastly, fundraising efforts have been minimal over the past 12 months, and we will explore opportunities to enhance our fundraising activities moving forward.

Principal funding sources

Aside from the principal 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.

Page 2

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

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.

Organisational structure

Busy Bees has a Management Board of eight 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 the Registered Individual and deputy managers. The Nursery Manager reports to the Management Board.

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; 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, 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.

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

Page 3

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

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

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

06495575 (England and Wales)

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 S Thomas Childcare Practitioner R C Redman Accountant E Livings Dance Teacher (resigned 20.1.25) J Walters Childcare Practitioner

Company Secretary

C F Boddington

Independent Examiner

Scott Harris FCCA Green & Co Chartered Certified Accountants Pembroke House Llantarnam Park Way Cwmbran Torfaen NP44 3AU

Page 4

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 30th April 2025 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 2024.

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:

  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.

Scott Harris FCCA

Green & Co Chartered Certified Accountants Pembroke House Llantarnam Park Way Cwmbran Torfaen NP44 3AU

30th April 2025

Page 7

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2024

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
-
Charitable activities
4
Childcare
557,554
Investment income
3
351
Total
557,905
EXPENDITURE ON
Charitable activities
5
Childcare
509,400
NET INCOME/(EXPENDITURE)
48,505
Transfers between funds
16
(40,973)
Net movement in funds
7,532
RECONCILIATION OF FUNDS
Total funds brought forward
77,856
TOTAL FUNDS CARRIED FORWARD
85,388		 Restricted
funds
£
-
137,919
-
137,919
173,820
(35,901)
40,973
5,072
(18,463)
(13,391)		 2024
Total
funds
£
-
695,473
351
695,824
683,220
12,604
-
12,604
59,393
71,997		 2023
Total
funds
£
35
592,255
-
592,290
548,918
43,372
-
43,372
16,021
59,393

The notes form part of these financial statements

Page 8

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

BALANCE SHEET 31ST AUGUST 2024

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
11
27,960
CURRENT ASSETS
Debtors
12
40,350
Cash at bank and in hand
39,231
79,581
CREDITORS
Amounts falling due within one year
13
(22,153)
NET CURRENT
ASSETS/(LIABILITIES)
57,428
TOTAL ASSETS LESS CURRENT
LIABILITIES
85,388
CREDITORS
Amounts falling due after more than one
year
14
-
NET ASSETS
85,388
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
3,073
-
-
-
(5,988)
(5,988)
(2,915)
(10,476)
(13,391)		 2024
Total
funds
£
31,033
40,350
39,231
79,581
(28,141)
51,440
82,473
(10,476)
71,997
85,388
(13,391)
71,997		 2023
Total
funds
£
14,517
19,135
105,260
124,395
(62,451)
61,944
76,461
(17,068)
59,393
77,856
(18,463)
59,393

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2024 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 2024

The trustees acknowledge their responsibilities for

The financial statements were approved by the Board of Trustees and authorised for issue on 30th April 2025 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 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flows from financing activities
Loan repayments in year
Net cash 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
Cash and cash equivalents at the end
of the reporting period		 2024
£
(33,126)
1,327
(31,799)
(27,158)
351
(26,807)
(7,423)
(7,423)
(66,029)
105,260
39,231		 2023
£
89,005
1,767
90,772
(1,718)
-
(1,718)
(10,487)
(10,487)
78,567
26,693
105,260

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 2024

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

ACTIVITIES
2024 2023
£ £
Net income for the reporting period (as per the Statement of
Financial Activities) 12,604 43,372
Adjustments for:
Depreciation charges 9,766 4,731
Loss on disposal of fixed assets 876 260
Interest received (351) -
(Increase)/decrease in debtors (21,215) 4,887
(Decrease)/increase in creditors (34,806) 35,755
Net cash (used in)/provided by operations (33,126) 89,005
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.9.23 Cash flow At 31.8.24
£ £ £
Net cash
Cash at bank and in hand 105,260 (66,029) 39,231
105,260 (66,029) 39,231
Debt
Debts falling due within 1 year (5,493) (496) (5,989)
Debts falling due after 1 year (17,068) 6,592 (10,476)
(22,561) 6,096 (16,465)
Total 82,699 (59,933) 22,766

The notes form part of these financial statements

Page 12

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024

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...

Page 13

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024

2.
DONATIONS AND LEGACIES
Donations
3.
INVESTMENT INCOME
Deposit account interest
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Fundraising
Childcare
30 Hours
Childcare
Fees
Childcare
Flying Start
Childcare
Grants
Childcare
Assisted Places
Childcare
Sundry income
Childcare
5.
CHARITABLE ACTIVITIES COSTS
Childcare		 2024
£
-
2024
£
351
2024
£
263
152,183
337,992
129,919
36,888
38,228
-
695,473		 2023
£
35
2023
£
-
2023
£
414
153,910
273,645
122,793
3,538
37,944
11		 2023
£
35
2023
£
-
592,255
Support
costs (see
note 6)
£
683,220

continued...

Page 14

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024

6. SUPPORT COSTS

SUPPORT COSTS
Governance
costs
£
Childcare 683,220

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£ £
Depreciation - owned assets 9,766 4,731

8. 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 2024 nor for the year ended 31st August 2023.

9. STAFF COSTS

Wages and salaries 2024
£
579,355
579,355		 2023
£
455,867
455,867

The average monthly number of employees during the year was as follows:

Manager
Deputy Manager
Supervisor
Assistant
Auxiliary		 2024
1
5
1
27
6
40		 2023
1
4
1
24
4
34

No employees received emoluments in excess of £60,000.

Page 15

continued...

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
35
Charitable activities
Childcare
469,553
Total
469,588
EXPENDITURE ON
Charitable activities
Childcare
400,651
NET INCOME/(EXPENDITURE)
68,937
Transfers between funds
(32,921)
Net movement in funds
36,016
RECONCILIATION OF FUNDS
Total funds brought forward
41,840
TOTAL FUNDS CARRIED
FORWARD
77,856		 Restricted
funds
£
-
122,702
122,702
148,267
(25,565)
32,921
7,356
(25,819)
(18,463)		 Total
funds
£
35
592,255
592,290
548,918
43,372
-
43,372
16,021
59,393

Page 16

continued...

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024

11. TANGIBLE FIXED ASSETS

Fixtures
and
Motor
fittings
vehicles
£
£
COST
At 1st September 2023
101,677
15,219
Additions
7,966
18,636
Disposals
-
(3,690)
At 31st August 2024
109,643
30,165
DEPRECIATION
At 1st September 2023
92,278
10,697
Charge for year
4,265
5,182
Eliminated on disposal
-
(2,814)
At 31st August 2024
96,543
13,065
NET BOOK VALUE
At 31st August 2024
13,100
17,100
At 31st August 2023
9,399
4,522
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments		 Office
equipment
£
1,456
556
-
2,012
860
319
-
1,179
833
596
2024
£
33,076
3,600
3,674
40,350		 Totals
£
118,352
27,158
(3,690)
141,820
103,835
9,766
(2,814)
110,787
31,033
14,517
2023
£
18,001
-
1,134
19,135

continued...

Page 17

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
£
Bank loans and overdrafts (see note 15)
5,989
Social security and other taxes
3,322
Other creditors
9,954
Accruals and deferred income
8,876
28,141
14.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
£
Bank loans (see note 15)
10,476
15.
LOANS
An analysis of the maturity of loans is given below:
2024
£
Amounts falling due within one year on demand:
Bank loans
5,989
Amounts falling between one and two years:
Bank loans
6,409
Amounts falling due between two and five years:
Bank loans
4,067
16.
MOVEMENT IN FUNDS
Net
Transfers
movement
between
At 1.9.23
in funds
funds
£
£
£
Unrestricted funds
General fund
77,856
48,505
(40,973)
Restricted funds
Restricted fund
(21,528)
(35,135)
40,973
Other fixed assets
3,065
(766)
-
(18,463)
(35,901)
40,973
TOTAL FUNDS
59,393
12,604
-		 2023
£
5,493
12,228
6,752
37,978
62,451
2023
£
17,068
2023
£
5,493
5,579
11,489
At
31.8.24
£
85,388
(15,690)
2,299
(13,391)
71,997

continued...

Page 18

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024

16. MOVEMENT IN FUNDS - continued

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
£
557,905
137,919
-
137,919
695,824		 Resources
Movement
expended
in funds
£
£
(509,400)
48,505
(173,054)
(35,135)
(766)
(766)
(173,820)
(35,901)
(683,220)
12,604

Comparatives for movement in funds

Net
Transfers
movement
between
At 1.9.22
in funds
funds
£
£
£
Unrestricted funds
General fund
41,840
68,937
(32,921)
Restricted funds
Restricted fund
(30,808)
(23,641)
32,921
Other fixed assets
4,989
(1,924)
-
(25,819)
(25,565)
32,921
TOTAL FUNDS
16,021
43,372
-		 At
31.8.23
£
77,856
(21,528)
3,065
(18,463)
59,393

continued...

Page 19

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024

16. 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
£
469,588
122,702
-
122,702
592,290		 Resources
Movement
expended
in funds
£
£
(400,651)
68,937
(146,343)
(23,641)
(1,924)
(1,924)
(148,267)
(25,565)
(548,918)
43,372

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st August 2024.

18. 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.

19. 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 20

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2024

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Investment income
Deposit account interest
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
Building
Carried forward		 2024
£
-
351
263
152,183
337,992
129,919
36,888
38,228
-
695,473
695,824
579,355
3,000
19,621
1,380
7,459
6,395
17,043
367
88
305
-
3,720
1,962
10,790
12,444
663,929		 2023
£
35
-
414
153,910
273,645
122,793
3,538
37,944
11
592,255
592,290
455,867
3,143
18,707
837
5,804
5,761
17,381
349
392
127
280
2,406
1,839
9,733
11,678
534,304

This page does not form part of the statutory financial statements

Page 21

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2024

FOR THE YEAR ENDED 31ST AUGUST 2024
Governance costs
Brought forward
Resources and consumables
Sundry expenses
Depreciation
(Profit)/Loss on disposal of fixed assets
Donations
Bank interest
Bank loan interest
PAYE interest
Bad debts
Total resources expended
Net income		 2024
£
663,929
2,854
67
9,766
876
403
324
1,327
-
3,674
683,220
683,220
12,604		 2023
£
534,304
4,086
232
4,731
260
177
156
1,767
25
3,180
548,918
548,918
43,372

This page does not form part of the statutory financial statements

Page 22

mail@greenandco.com www.greenandco.com

Busy Bees Blaenavon Day Nursery And Kids Club Busy Bees Park Street Blaenavon Pontypool NP4 9AA

30 April 2025

Our ref: B0366L/SH/SL

Dear Cara,

FINAL ACCOUNTS

I am pleased to enclose the following:

  1. Full Accounts for the year ended 31 August 2024

Please sign these documents so that they can be filed with Companies House before 31/05/2025 to avoid any late filing penalties.

OPENING BALANCE ADJUSTMENTS

These have been updated on Xero by our bookkeeping team.

FEE

Our VAT invoice is being sent in a separate email, please pay the balance outstanding on your account of £2,100.

FEEDBACK

We will be sending you an email with a link to a short questionnaire and would be very grateful for your feedback.

Every month these are entered into a prize draw. You can either win a £50.00 tax-free gift voucher or we will donate £100 to The Alzheimer’s Society which is our nominated Charity for 2024.

Yours sincerely

Scott Harris

REGISTERED COMPANY NUMBER: 06495575 (England and Wales) REGISTERED CHARITY NUMBER: 1126728

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024

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 2024

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
Notes to the Financial Statements 13 to 20
Detailed Statement of Financial Activities 21 to 22

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024

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 2024. 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 2024

STRATEGIC REPORT

Financial position

Throughout the year, our non-wage expenses have remained relatively stable with some minor increases, none of which have been significant.

However, wages have seen a substantial rise over the past two periods. From 2021/2022 to 2022/2023, wages increased by 25%, with a similar rise of just over 24% in the current year. In comparison, our fee income grew by 16%. While this increase is positive, it has not been sufficient to fully offset the growth in wages. Of the overall wage increase, 12% was directly attributed to pay rises implemented in April 2024, with the remaining 12% resulting from an increase in staffing levels.

Fee income saw a 10% increase, which contributes to an overall growth of 6% beyond the fee adjustments. Other income streams have remained the same.

In terms of liabilities, we successfully paid off a smaller loan in November, originally taken out in May 2020 for £8,125 to support the organisation during the disruptions caused by COVID-19. We still have a larger loan, taken out in January 2022, which is currently halfway through repayment.

Additionally, we received an £8,000 grant to support the Flying Start training and the transition of our administrative systems. A smaller grant was received for the acquisition of specialist toilet equipment. Grant funding money of £5,411 from 2022/23 was allocated towards the purchase of a shaded shelter, tables, and chairs for the BICC.

Looking ahead, projections for September 2024 present challenges. Changes made by the Government to increase Employers National Insurance Contributions as well as an increase to the minimum wage, are expected to significantly impact our financial outlook from April 2025. We were hoping for a modest fee increase next year, although this appears unlikely at present. We will need to carefully plan our wage increase to minimise the effects.

Lastly, fundraising efforts have been minimal over the past 12 months, and we will explore opportunities to enhance our fundraising activities moving forward.

Principal funding sources

Aside from the principal 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.

Page 2

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

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.

Organisational structure

Busy Bees has a Management Board of eight 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 the Registered Individual and deputy managers. The Nursery Manager reports to the Management Board.

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; 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, 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.

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

Page 3

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

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

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

06495575 (England and Wales)

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 S Thomas Childcare Practitioner R C Redman Accountant E Livings Dance Teacher (resigned 20.1.25) J Walters Childcare Practitioner

Company Secretary

C F Boddington

Independent Examiner

Scott Harris FCCA Green & Co Chartered Certified Accountants Pembroke House Llantarnam Park Way Cwmbran Torfaen NP44 3AU

Page 4

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 30th April 2025 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 2024.

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:

  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.

Scott Harris FCCA

Green & Co Chartered Certified Accountants Pembroke House Llantarnam Park Way Cwmbran Torfaen NP44 3AU

30th April 2025

Page 7

BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2024

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
-
Charitable activities
4
Childcare
557,554
Investment income
3
351
Total
557,905
EXPENDITURE ON
Charitable activities
5
Childcare
509,400
NET INCOME/(EXPENDITURE)
48,505
Transfers between funds
16
(40,973)
Net movement in funds
7,532
RECONCILIATION OF FUNDS
Total funds brought forward
77,856
TOTAL FUNDS CARRIED FORWARD
85,388		 Restricted
funds
£
-
137,919
-
137,919
173,820
(35,901)
40,973
5,072
(18,463)
(13,391)		 2024
Total
funds
£
-
695,473
351
695,824
683,220
12,604
-
12,604
59,393
71,997		 2023
Total
funds
£
35
592,255
-
592,290
548,918
43,372
-
43,372
16,021
59,393

The notes form part of these financial statements

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BALANCE SHEET 31ST AUGUST 2024

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
11
27,960
CURRENT ASSETS
Debtors
12
40,350
Cash at bank and in hand
39,231
79,581
CREDITORS
Amounts falling due within one year
13
(22,153)
NET CURRENT
ASSETS/(LIABILITIES)
57,428
TOTAL ASSETS LESS CURRENT
LIABILITIES
85,388
CREDITORS
Amounts falling due after more than one
year
14
-
NET ASSETS
85,388
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
3,073
-
-
-
(5,988)
(5,988)
(2,915)
(10,476)
(13,391)		 2024
Total
funds
£
31,033
40,350
39,231
79,581
(28,141)
51,440
82,473
(10,476)
71,997
85,388
(13,391)
71,997		 2023
Total
funds
£
14,517
19,135
105,260
124,395
(62,451)
61,944
76,461
(17,068)
59,393
77,856
(18,463)
59,393

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2024 in accordance with Section 476 of the Companies Act 2006.

The notes form part of these financial statements

continued...

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BALANCE SHEET - continued 31ST AUGUST 2024

The trustees acknowledge their responsibilities for

The financial statements were approved by the Board of Trustees and authorised for issue on 30th April 2025 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 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flows from financing activities
Loan repayments in year
Net cash 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
Cash and cash equivalents at the end
of the reporting period		 2024
£
(33,126)
1,327
(31,799)
(27,158)
351
(26,807)
(7,423)
(7,423)
(66,029)
105,260
39,231		 2023
£
89,005
1,767
90,772
(1,718)
-
(1,718)
(10,487)
(10,487)
78,567
26,693
105,260

The notes form part of these financial statements

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NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2024

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

ACTIVITIES
2024 2023
£ £
Net income for the reporting period (as per the Statement of
Financial Activities) 12,604 43,372
Adjustments for:
Depreciation charges 9,766 4,731
Loss on disposal of fixed assets 876 260
Interest received (351) -
(Increase)/decrease in debtors (21,215) 4,887
(Decrease)/increase in creditors (34,806) 35,755
Net cash (used in)/provided by operations (33,126) 89,005
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.9.23 Cash flow At 31.8.24
£ £ £
Net cash
Cash at bank and in hand 105,260 (66,029) 39,231
105,260 (66,029) 39,231
Debt
Debts falling due within 1 year (5,493) (496) (5,989)
Debts falling due after 1 year (17,068) 6,592 (10,476)
(22,561) 6,096 (16,465)
Total 82,699 (59,933) 22,766

The notes form part of these financial statements

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024

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 2024

2.
DONATIONS AND LEGACIES
Donations
3.
INVESTMENT INCOME
Deposit account interest
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Fundraising
Childcare
30 Hours
Childcare
Fees
Childcare
Flying Start
Childcare
Grants
Childcare
Assisted Places
Childcare
Sundry income
Childcare
5.
CHARITABLE ACTIVITIES COSTS
Childcare		 2024
£
-
2024
£
351
2024
£
263
152,183
337,992
129,919
36,888
38,228
-
695,473		 2023
£
35
2023
£
-
2023
£
414
153,910
273,645
122,793
3,538
37,944
11		 2023
£
35
2023
£
-
592,255
Support
costs (see
note 6)
£
683,220

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 2024

6. SUPPORT COSTS

SUPPORT COSTS
Governance
costs
£
Childcare 683,220

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£ £
Depreciation - owned assets 9,766 4,731

8. 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 2024 nor for the year ended 31st August 2023.

9. STAFF COSTS

Wages and salaries 2024
£
579,355
579,355		 2023
£
455,867
455,867

The average monthly number of employees during the year was as follows:

Manager
Deputy Manager
Supervisor
Assistant
Auxiliary		 2024
1
5
1
27
6
40		 2023
1
4
1
24
4
34

No employees received emoluments in excess of £60,000.

Page 15

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BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
35
Charitable activities
Childcare
469,553
Total
469,588
EXPENDITURE ON
Charitable activities
Childcare
400,651
NET INCOME/(EXPENDITURE)
68,937
Transfers between funds
(32,921)
Net movement in funds
36,016
RECONCILIATION OF FUNDS
Total funds brought forward
41,840
TOTAL FUNDS CARRIED
FORWARD
77,856		 Restricted
funds
£
-
122,702
122,702
148,267
(25,565)
32,921
7,356
(25,819)
(18,463)		 Total
funds
£
35
592,255
592,290
548,918
43,372
-
43,372
16,021
59,393

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BUSY BEES BLAENAVON DAY NURSERY AND KIDS CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024

11. TANGIBLE FIXED ASSETS

Fixtures
and
Motor
fittings
vehicles
£
£
COST
At 1st September 2023
101,677
15,219
Additions
7,966
18,636
Disposals
-
(3,690)
At 31st August 2024
109,643
30,165
DEPRECIATION
At 1st September 2023
92,278
10,697
Charge for year
4,265
5,182
Eliminated on disposal
-
(2,814)
At 31st August 2024
96,543
13,065
NET BOOK VALUE
At 31st August 2024
13,100
17,100
At 31st August 2023
9,399
4,522
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments		 Office
equipment
£
1,456
556
-
2,012
860
319
-
1,179
833
596
2024
£
33,076
3,600
3,674
40,350		 Totals
£
118,352
27,158
(3,690)
141,820
103,835
9,766
(2,814)
110,787
31,033
14,517
2023
£
18,001
-
1,134
19,135

continued...

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
£
Bank loans and overdrafts (see note 15)
5,989
Social security and other taxes
3,322
Other creditors
9,954
Accruals and deferred income
8,876
28,141
14.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
£
Bank loans (see note 15)
10,476
15.
LOANS
An analysis of the maturity of loans is given below:
2024
£
Amounts falling due within one year on demand:
Bank loans
5,989
Amounts falling between one and two years:
Bank loans
6,409
Amounts falling due between two and five years:
Bank loans
4,067
16.
MOVEMENT IN FUNDS
Net
Transfers
movement
between
At 1.9.23
in funds
funds
£
£
£
Unrestricted funds
General fund
77,856
48,505
(40,973)
Restricted funds
Restricted fund
(21,528)
(35,135)
40,973
Other fixed assets
3,065
(766)
-
(18,463)
(35,901)
40,973
TOTAL FUNDS
59,393
12,604
-		 2023
£
5,493
12,228
6,752
37,978
62,451
2023
£
17,068
2023
£
5,493
5,579
11,489
At
31.8.24
£
85,388
(15,690)
2,299
(13,391)
71,997

continued...

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024

16. MOVEMENT IN FUNDS - continued

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
£
557,905
137,919
-
137,919
695,824		 Resources
Movement
expended
in funds
£
£
(509,400)
48,505
(173,054)
(35,135)
(766)
(766)
(173,820)
(35,901)
(683,220)
12,604

Comparatives for movement in funds

Net
Transfers
movement
between
At 1.9.22
in funds
funds
£
£
£
Unrestricted funds
General fund
41,840
68,937
(32,921)
Restricted funds
Restricted fund
(30,808)
(23,641)
32,921
Other fixed assets
4,989
(1,924)
-
(25,819)
(25,565)
32,921
TOTAL FUNDS
16,021
43,372
-		 At
31.8.23
£
77,856
(21,528)
3,065
(18,463)
59,393

continued...

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024

16. 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
£
469,588
122,702
-
122,702
592,290		 Resources
Movement
expended
in funds
£
£
(400,651)
68,937
(146,343)
(23,641)
(1,924)
(1,924)
(148,267)
(25,565)
(548,918)
43,372

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st August 2024.

18. 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.

19. 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 2024

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Investment income
Deposit account interest
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
Building
Carried forward		 2024
£
-
351
263
152,183
337,992
129,919
36,888
38,228
-
695,473
695,824
579,355
3,000
19,621
1,380
7,459
6,395
17,043
367
88
305
-
3,720
1,962
10,790
12,444
663,929		 2023
£
35
-
414
153,910
273,645
122,793
3,538
37,944
11
592,255
592,290
455,867
3,143
18,707
837
5,804
5,761
17,381
349
392
127
280
2,406
1,839
9,733
11,678
534,304

This page does not form part of the statutory financial statements

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DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2024

FOR THE YEAR ENDED 31ST AUGUST 2024
Governance costs
Brought forward
Resources and consumables
Sundry expenses
Depreciation
(Profit)/Loss on disposal of fixed assets
Donations
Bank interest
Bank loan interest
PAYE interest
Bad debts
Total resources expended
Net income		 2024
£
663,929
2,854
67
9,766
876
403
324
1,327
-
3,674
683,220
683,220
12,604		 2023
£
534,304
4,086
232
4,731
260
177
156
1,767
25
3,180
548,918
548,918
43,372

This page does not form part of the statutory financial statements

Page 22