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2021-08-31-accounts

COMPANY NUMBER 06784276

BOWS AND ARROWS FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

CHARITY NUMBER 1129046

ENSORS ACCOUNTANTS LLP

CONNEXIONS 159 PRINCES STREET IPSWICH IP1 1QJ

BOWS AND ARROWS

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

CONTENTS PAGE
Reference and Administrative Information 1
Trustees’ Annual Report 2 - 9
Independent Auditor’s Report to the Members 10 - 12
Statement of Financial Activities 13
Balance Sheet 14
Cash Flow Statement 15
Notes to the Financial Statements 16 - 31

BOWS AND ARROWS

REFERENCE AND ADMINISTRATIVE INFORMATION

FOR THE YEAR ENDED 31 AUGUST 2021

Trustees and directors
Mr J Roberts
Mr S Greenacre
Miss N Bedford Resigned 2 November 2020
Mrs C Atkins
Mrs H Cotton Resigned 10 November 2021
Mrs F Rouane
Mr J Lewis Resigned 8 March 2022
Mrs C Horne Appointed 22 September 2021
Mrs K Taylor Appointed 22 September 2021
Company status Limited by guarantee
Joint chief executives Anne Denny
Michelle Antczak
Registered office Wigwams Nursery
Whitton Church Lane
Ipswich
IP1 6LW
Charity number 1129046
Company number 06784276
Auditor Ensors Accountants LLP
Connexions
159 Princes Street
Ipswich
IP1 1QJ
Bankers Lloyds Bank
PO Box 4
13 Cornhill
Ipswich
IP1 1DG
Solicitors Gotelee Solicitors LLP
Elm Street
Ipswich
IP1 2AY

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TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 AUGUST 2021

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 31 August 2021. The accounts have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)”.

The annual report serves the purposes of both a trustees’ report and a directors’ report under company law.

Since the company qualifies as small under Section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director’s Report) Regulations 2013 is not required.

The information on page 1 forms part of this report.

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TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 AUGUST 2021

Our Goal

Bows & Arrows envisages a time when all children, irrespective of race, culture, means or ability, can thrive within high quality and affordable childcare that has the needs of their families at its heart.

Public Benefit

The Trustees confirm that they have complied with the duty in Section 17 of The Charities Act (2011) to have due regard to the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on charitable educational establishments and advancement of education.

Our main activity is the operation of ‘full daycare’ nurseries. Bows & Arrows has established high-quality settings in locations that will serve some of the most disadvantaged families in Ipswich. We have a significant number of children with additional needs, children for whom English is not their first language and children at risk.

ACHIEVEMENT AND PERFORMANCE

Charitable Objects

In line with our legal purpose, as set out in our Memorandum of Association, Bows & Arrows’ aim is to “advance the education and development of young children”, in particular in Ipswich, Suffolk, by:

  1. offer appropriate learning experiences and play facilities;

  2. ensure that our nurseries offer opportunities for all children whatever their race, culture, means or ability

  3. encourage parents to become involved in the activities of the nursery;

  4. signpost families to additional support in the best interests of children attending the setting.

866 local children attended our nurseries throughout, or at some point during, the period and we employed a staff of 97 at the end of the period. From late March 2020, coronavirus interrupted our usual operations including some temporary closures of settings or rooms. National lockdowns in Autumn 2020 and Spring 2021 suppressed child occupancy and isolation requirements for staff with covid, or as close contacts, required some full or partial nursery closures.

We continued to achieve the Objects in the following ways:

1- offered appropriate learning experiences and play facilities;

We achieved this aim in several ways,

We operated childcare from six Ofsted registered settings. We know that our children’s learning experiences and play is appropriate from our Ofsted inspections. Our 4 ‘Outstanding’ Ofsted gradings and one ‘Good’ (with an ‘Outstanding’ element) are a notable achievement and emphasises the talent, passion and skill of our practitioners and nursery leaders. Nature Den Nursery has not yet been inspected by Ofsted.

Each term we recorded how preschool children performed against the 17 areas of learning in the EYFS. This data provides evidence as to whether children’s learning falls into the prescribed age band for their age. The group results for Summer Term 2021 (see below) tells us that 80% of the children are at an expected or higher level of development. These results are slightly higher than 2019 results indicating a consistent performance, despite the disruption caused by the pandemic.

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TRUSTEES’ ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

As Bows & Arrows responded to the pandemic, our educators stepped forward to continue working, despite personal risk, allowing us to keep the nurseries open and operating. Our delivery of play activities changed considerably this year to focus on health and safety. More teaching and learning took place outside and in April 2020 we invested nearly £11,000 at The Children’s Triangle Nursery to transform the garden and enhance the learning environment. Across all the nurseries more activities were centred on children’s mental health, emotional development and wellbeing. All these changes were implemented to counterbalance the negative impact of coronavirus.

2 - ensured that our nurseries offer opportunities for all children whatever their race, culture, means or ability;

The Bows & Arrows nurseries are located within the top 20% most deprived neighbourhoods in the country and therefore we enrol many children from disadvantaged communities including children from diverse backgrounds and families with a low income. In addition, 88% of registered children aged 3 and 4 years and 55% of children aged 2 years old accessed a funded place with Bows and Arrows, which enables those who need it the ability to use the government entitlements in Early Years.

All families had the opportunity to benefit from our service without unnecessary and unreasonable cost or restrictions. Specifically,

3 - encouraged parents to become involved in the activities of the nursery;

The use of technology allowed us to continue communicating with families and to encourage involvement in children’s learning and development.

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TRUSTEES’ ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

Whilst the pandemic meant that “in person” events were rare, face to face conversations still took place daily as families dropped and collected their children. We also undertook some doorstep checks for some families to ensure children were safe and families were coping with staying at home. These measures ensured educators had ongoing effective communications with families. External funding meant we could employ a Family Support Practitioner at each nursery to improve family engagement, to help children be better prepared for school, and to support and encourage home learning.

4 - signposted families to additional support in the best interests of children attending the setting.

The majority of the Family Support work has been driven by the impact of the COVID19 outbreak. External funding from Suffolk County Council’s “Engaged Communities” Fund facilitated increased messaging about covid 19 restrictions, testing and vaccinations in order to positively impact the health of our communities.

In addition, we supported children by sensitively signposting parents and carers to other services:

Working with other organisations and professionals is embedded in our day to day practices as offering families help when needed is an essential and valued part of our work. We accommodate a wide range of children with different needs who benefit from our additional support. Data for the financial year 2020-2021 identifies that 18% of registered children did not speak English as their first language and 23% of children had early years interventions for a special educational need or disability.

Strategic Progress

The Charity had the following plans in 2018-19 which were progressed in the period as follows:

This was achieved and the Reserves are as required. The Board will go on to consider the investment of the held Reserves.

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TRUSTEES’ ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

d) Undertake a review of governance within the Board to ensure that processes are suitable for delivery of - the long term strategy to be defined in c), above.

The Board has continued to consider new recruits with a variety of skills & experience. Covid has moved our work online which has facilitated better attendance at meetings.

FINANCIAL REVIEW

Going Concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

Financial Position

The results for the year, and the charity’s financial position at the end of the year, are shown in the attached financial statements. In the year to 31 August 2021 Bows & Arrows recorded a surplus of £115,587 from operating activities. The decrease on 2019-20 (£196,305) can be attributed to lower nursery occupancy against a degree of increased direct costs.

The Charity has unrestricted reserves of £662,931 and restricted reserves of £784,889 at the year ended 31 August 2021.

Significant Financial Risks

These risks are mitigated by our good ability to analyse the position of the charity quickly & respond. Also, by the generosity of other funders that support our Charitable Objects.

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TRUSTEES’ ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

Reserves policy

The Trustees have assessed the level of unrestricted reserves to hold at £500,000 :

  1. To protect the continuity of the charity’s work in the event of any sudden, enforced cessation in trading e.g. loss of registration, force majeure, or withdrawal of grant funding from Suffolk County Council. The charity aims to keep 3 months’ worth of expenditure for this purpose. At 31 August 2021, this level should be £400,000.

  2. To maintain assets when required. At 31st August 2021 this figure should be £50,000.

  3. To provide the capital to deliver our strategic plan. These are 'opportunistic reserves', set aside to enable the charity to evolve and take advantage of strategic development opportunities. At 31st August 2021, this level should be £50,000.

By dividing the reserves into these levels, the charity is confident that it has considered all the different risks that the charity may face and has adequate money in reserve to deal with them.

A number of factors have been considered by the trustees in setting the level of reserves held by the organisation. These include:

The Charity has unrestricted reserves of £662,931 and restricted reserves of £784,889 at the year ended 31 August 2021.

Principal funding sources

The principal source of funding is the Early Education Funding and the Two-Year-Old Funding. There are other funds which support our work (such as the Disability Access Fund) which are provided by the local authority, Suffolk County Council. The Council oversee the use of the funds and audit the accounts once the funds have been spent.

We also receive a significant income from nursery fees, i.e. money paid to the nurseries by families or other sponsors.

Fundraising Regulator

In the year, fundraising represented less than 1% of income.

The Charity is committed to good fundraising practice and follows the Code of Fundraising Practice. The Charity does not use professional fundraising agencies. No complaints have been registered against the Charity during the year under review.

Investments

The charity has no investments.

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TRUSTEES’ ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, the Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Organisational Structure & Decision Making

Bows and Arrows is a registered charity and a company limited by guarantee and a non-profit making organisation. We are governed by a Board of Trustees. Trustees are appointed from our client base of parents, representatives from the local community, or representatives from partner organisations.

Our Articles of Association state that “when complete, the Trustees consist of at least three, and not more than 10 individuals”. The board of trustees requires breadth and depth of experience to carry out its duties effectively and efficiently. A trustee’s most important attribute is the passion for the work that the nurseries undertake. Where possible the charity considers that the skills and experience of the board should comprise the following:

The trustees meet 4 times a year, with additional meetings as necessary. The Board is responsible for strategic direction, for ensuring proper governance of Bows & Arrows activities and for risk.

Recruitment and appointment of new trustees

Two paid Chief Executives are appointed by the trustees to manage the day-to-day operations of the charity. The Board expects the Chief Executives to take both strategic and operational decisions based on the budget and delegated authorities. The Board expects that all decision making will be within Bows & Arrows objectives and policies.

Key management salaries

Pay at all levels was set in line with the organisational pay structure. Pay for the Chief Executives was decided by the Board.

From time to time, the Trustees form a Remuneration Committee via which to scrutinise the pay & benefits of the most senior employees.

Risk management

Trustees have a prudent attitude to risk and seek to foresee and avoid any major risks to our activity. Medium risks are reviewed regularly at Trustee meetings and management meetings. Risk assessments are completed regularly. These processes have been successful so far in minimising any significant risk to the company and those people that use its services.

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TRUSTEES’ ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The trustees (who are also the directors of Bows and Arrows for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing those financial statements, the trustees are required to

The trustees have overall responsibility for ensuring that the charity has appropriate systems of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006 and the Statement of Recommended Practice, “Accounting and Reporting by Charities”. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities and to provide reasonable assurance that:

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

AUDITORS

A resolution to re-appoint Ensors Accountants LLP as auditors for the ensuing year will be proposed at the annual general meeting in accordance with section 415 of the Companies Act 2006.

The Trustees’ Report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

By order of the board of trustees

Mr J Roberts (Chair)

29 May 2022 Approved by the Trustees on ………………………

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS

FOR THE YEAR ENDED 31 AUGUST 2021

Opinion

We have audited the financial statements of Bows and Arrows (the ‘charitable company’) for the year ended 31 August 2021 which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement and notes to the accounts, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charitable Company’s ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.

Our responsibility and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 9, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors’ responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Our audit was designed, after obtaining suitable knowledge and understanding of the Charitable Company and its operating systems, controls and culture, to include tests of detail together with supportive analytical procedures, to enable us to obtain reasonable assurance that the financial statements are free from material misstatements. This included higher levels of work on areas where we considered there to be a higher risk of fraud or misstatement, including revenue recognition and areas where there is a risk of management override of systems and controls or where there are high levels of uncertainty regarding an estimate or judgement.

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members as a body, for our audit work, for this report, or for the opinions we have formed.

Helen Rumsey (Senior Statutory Auditor) for and on behalf of Ensors Accountants LLP

Chartered Accountants Statutory Auditor

Connexions 159 Princes Street Ipswich Suffolk IP1 1QJ

Dated: ...............................................................30 May 2022

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STATEMENT OF FINANCIAL ACTIVITIES INCLUDING AN INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2021

Note
Income from:
Donations
3
Charitable activities:
4
Buttons and Bows
Wigwams
Triangle
Little Learners
Wellington Day Care
Nature Den
Other income
5
Investments
6
Total income
Expenditure on:
Charitable activities:
7
Buttons and Bows
Wigwams
Triangle
Little Learners
Wellington Day Care
Nature Den
Other expenditure
Total expenditure
Net income/
(expenditure)
Transfers between
funds
Net movements in
funds for the year
Reconciliation of
funds:
Fund balances as at 1
September 2020
Fund balances as at 31
August 2021		 Unrestricted
Funds
£
Restricted
Funds
£
Total 2021
£
90,979
124,472
215,451
361,115
-
361,115
370,095
-
370,095
125,446
-
125,446
388,713
-
388,713
186,413
-
186,413
161,288
-
161,288
18,999
-
18,999
40
-
40
1,703,088
124,472
1,827,560
328,345
28,417
356,762
344,985
14,533
359,518
149,568
14,183
163,751
364,567
83,330
447,897
140,645
19,024
159,669
189,618
14,459
204,077
-
20,299
20,299
1,517,728
194,245
1,711,973
185,360
(69,773)
115,587
(763)
763
-
184,597
(69,010)
115,587
478,334
853,899
1,332,233
662,931
784,889
1,447,820		 Unrestricted
Funds
£
Restricted
Funds
£
Total 2020
£
45,409
146,414
191,823
343,070
-
343,070
328,548
-
328,548
162,911
-
162,911
329,791
-
329,791
107,532
-
107,532
204,350
-
204,350
191,416
-
191,416
143
-
143
1,713,170
146,414
1,859,584
346,959
30,856
377,815
340,291
16,154
356,445
156,140
20,093
176,233
344,130
17,727
361,857
137,542
7,240
144,782
198,693
12,074
210,767
504
34,876
35,380
1,524,259
139,020
1,663,279
188,911
7,394
196,305
1,431
(1,431)
-
190,342
5,963
196,305
287,992
847,936
1,135,928
478,334
853,899
1,332,233

All of the above results are derived from continuing activities.

The notes on pages 16 to 31 form part of these financial statements.

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BALANCE SHEET

AS AT 31 AUGUST 2021

Note
Fixed assets
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors
Amounts falling due within one year
15
Net current assets
Total assets less current liabilities
Creditors
Amounts falling due after more than one year
Net assets
Funds
19
Unrestricted
Restricted		 2021
£
2020
£
833,223
882,621
20,474
60,226
902,142
693,766
922,616
753,992
(308,019)
(304,380)
614,597
449,612
1,447,820
1,332,233
-
-
1,447,820
1,332,233
662,931
478,334
784,889
853,899
1,447,820
1,332,233

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime within part 15 of the Companies Act 2006 and with the Charities SORP (FRS 102).

The financial statements were approved by the Board of Trustees on …………………… and were signed on its 29 May 2022 behalf by:

Mr J Roberts Trustee

The notes on pages 16 to 31 form part of these financial statements.

Company Registration No. 06784276

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CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 AUGUST 2021

Note
Cash flows from operating activities:
Net cash provided by / (used in) operating activities
22
Cash flows from investing activities:
Interest from investments
Purchase of tangible fixed assets
Net cash used in investing activities
Net increase / (decrease) in cash and cash
equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2021
£
237,400
40
(29,064)
(29,024)
208,376
693,766
902,142		 2020
£
173,341
143
(13,268)
(13,125)
160,216
533,550
693,766

The notes on pages 16 to 31 form part of these financial statements.

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NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

1. ACCOUNTING POLICIES

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding period.

Company information

Bows and Arrows is a private company limited by guarantee, domiciled and incorporated in England and Wales, registration number 06784276.

Bows and Arrows is a registered Charity, registration number 1129046.

The registered office for the Charity is Wigwams Nursery, Whitton Church Lane, Ipswich, Suffolk, IP1 6LW.

Basis of accounting

The financial statements have been prepared under the historical cost convention and in accordance with the 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) and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts are rounded to the nearest £.

The Charity meets the definition of a public benefit entity under FRS 102.

Going concern

In 2020, the Charity were quick to react to the potential effects of Covid-19, utilising all available grants. The Trustees consider that the significant risk from Covid 19 has passed but the pandemic serves to remind the charity of the importance of holding reserves. The Charity is deemed to be a going concern and will realise its assets and meet its liabilities under the normal course of operations.

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 objectives 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.

Incoming resources

All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income, the receipt is probable, and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is conditional on the delivery of specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.

Investment income is included when receivable.

Incoming resources from charitable activities are accounted for when earned.

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NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

1. ACCOUNTING POLICIES (continued )

Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.

Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of resources (i.e. by nursery setting). Costs relating to these are allocated directly. Other costs such as governance costs are apportioned on an appropriate basis e.g. by revenue generated.

Cash and cash equivalents

Cash and cash equivalents include cash in hand and at bank.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold properties - over the lower of either the term of the lease or 50 years Fixtures, fittings & equipment. - 10% on cost

Impairment of fixed assets

At each reporting year end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Pensions

The pension costs charged in the accounts represent the contributions payable by the charity during the year.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

17

BOWS AND ARROWS

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

1. ACCOUNTING POLICIES (continued )

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the period of the lease.

Financial instruments

Financial instruments are recognised in the Balance Sheet when the charity becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets include trade and other receivables and cash and bank balances. These are initially measured at transaction price, including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the transaction constitutes a financing transaction, where the transaction is measured at the present value of the future receipts.

Impairment of financial assets

Financial assets are assessed for indicators of impairment each year. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. This impairment is recognised in the SOFA.

De-recognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expires, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of operations from suppliers. Accounts payable are classified as a current liability if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

De-recognition of financial liabilities

Financial liabilities are derecognised when, and only when, the charity’s obligations are discharged, cancelled, or they expire.

Government grants

Coronavirus Job Retention Scheme grant income has been recognised in the financial statements on an accruals basis over the furlough period for each relevant employee.

18

BOWS AND ARROWS

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

2. JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In application of the accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both the current and future periods.

3. DONATIONS

Fundraising
- Buttons and Bows
- Wigwams
- Triangle
- Little Learners
- Wellington
- Nature Den
SENCO
DAF
EYPP
Deprivation grant
Reggio
Wingate
PVI
IOA – 2 Year Project
IOA – Family Support Practioner
IOA – Summer Term Activities
Engaged Communities
Lighting project
Apprenticeship levy
Discretionary business grant
Suffolk County Council – recovery funding
Suffolk County Council – additional special grant
Ipswich Borough Council – additional restrictions grant
Other		 2021
£
401
-
-
720
-
-
50,664
-
14,261
26,886
-
-
-
-
23,500
3,805
5,000
500
24,295
10,000
38,376
600
15,000
1,443
215,451		 2020
£
971
695
161
1,521
227
720
63,685
6,765
13,480
37,747
6,910
6,684
25,000
23,890
-
-
-
-
-
-
-
-
-
3,367
191,823

19

BOWS AND ARROWS

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

4. INCOME FROM CHARITABLE ACTIVITIES

Activity
Buttons and Bows
Fees receivable
Hot meals
Early education grants
Wigwams
Fees receivable
Hot meals
Early education grants
Triangle
Fees receivable
Hot meals
Early education grants
Little Learners
Fees receivable
Hot meals
Early education grants
Wellington Day Care
Fees receivable
Hot meals
Early education grants
Nature Den
Fees receivable
Hot meals
Early education grants		 2021
2020
£
£
142,999
126,031
7,076
7,961
211,040
209,079
208,024
146,171
9,529
7,960
152,543
174,417
19,467
24,167
4,364
4,051
101,615
134,692
140,108
86,394
7,573
6,864
241,031
236,533
83,828
58,067
4,423
2,147
98,162
47,318
25,621
34,700
1,762
4,218
133,905
165,432
1,593,070
1,476,202

5. OTHER INCOME

Coronavirus Job Retention Scheme
Insurance claim
Profit on sale of play equipment		 2021
£
18,549
-
450
18,999		 2020
£
140,297
51,119
-
191,416

6. INVESTMENT INCOME

Interest receivable

2021 2020
£ £
40 143
40 143

20

BOWS AND ARROWS

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

7. EXPENDITURE ON CHARITABLE ACTIVITIES

Buttons and Bows
Wigwams
Triangle
Little Learners
Wellington Day Care
Nature Den
Restricted projects		 Direct
Costs
Support
Costs
Governance
Costs
(Note 8)
2021
£
£
£
£
252,905
98,416
5,441
356,762
253,413
100,928
5,176
359,517
102,155
58,905
2,692
163,752
269,106
173,772
5,020
447,898
107,180
50,477
2,011
159,668
129,669
71,219
3,189
204,077
20,299
-
-
20,299
1,134,727
553,717
23,529
1,711,973

The costs have been allocated to the nursery to which the expenditure relates.

Prior year comparative

Buttons and Bows
Wigwams
Triangle
Little Learners
Wellington Day Care
Nature Den
Restricted projects		 Direct
Costs
Support
Costs
Governance
Costs
(Note 8)
2020
£
£
£
£
281,423
90,507
5,885
377,815
260,043
90,472
5,930
356,445
119,955
53,312
2,966
176,233
268,922
87,603
5,332
361,857
91,811
50,798
2,173
144,782
149,426
57,997
3,344
210,767
35,380
-
-
35,380
1,206,960
430,689
25,630
1,663,279

The costs have been allocated to the nursery to which the expenditure relates.

21

BOWS AND ARROWS

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

8. GOVERNANCE COSTS

Payroll services
Accountancy
Legal fees
Consultancy fees
Auditors’ remuneration
Auditors’ remuneration
– non-audit services		 Buttons & Bows
Wigwams
Triangle
Little Learners
Wellington Day
Care
Nature Den
2021
2020
£
£
£
£
£
£
£
£
1,586
1,687
833
1,675
722
999
7,502
7,465
252
160
87
152
58
94
803
815
595
571
267
560
229
467
2,689
3,758
331
304
166
290
110
179
1,380
2,664
2,053
1,882
1,027
1,797
684
1,112
8,555
9,188
624
572
312
546
208
338
2,600
1,740
5,441
5,176
2,692
5,020
2,011
3,189
23,529
25,630

9. NET INCOME/(EXPENDITURE)

This is stated after charging:

2021 2020
£ £
Auditor’s remuneration – non-audit services 2,600 1,740
Auditor’s remuneration 8,555 9,188
Depreciation – owned assets 78,462 23,735
Other operating leases 24,097 27,833

10. TRUSTEES’ REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2021 or for the year ended 31 August 2020.

11. CORPORATION TAXATION

The charity is exempt from tax on income and gains falling due within Part 11 Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

22

BOWS AND ARROWS

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

12. STAFF COSTS

Wages & salaries
Social security costs
Pension costs
The average number of employees during the period was:
Management
Support		 2021
2020
£
£
1,286,675
1,308,828
41,647
29,293
18,057
18,126
1,346,379
1,356,247
No.
No.
9
9
90
92
99
101

No employee earned more than £60,000 during either period.

13. TANGIBLE FIXED ASSETS

COST
At 1 September 2020
Additions
Disposals
At 31 August 2021
DEPRECIATION
At 1 September 2020
Charge for the year
Elimination on disposal
At 31 August 2021
NET BOOK VALUE
At 31 August 2021
At 1 September 2020		 Land &
buildings
£
1,056,151
-
-
1,056,151
186,919
74,629
-
261,548
794,603
869,232		 Fixtures,
fittings &
equipment
£
60,192
29,064
-
89,256
46,803
3,833
-
50,636
38,620
13,389		 Total
£
1,116,343
29,064
-
1,145,407
233,722
78,462
-
312,184
833,223
882,621

Land and buildings comprise long leasehold properties.

23

BOWS AND ARROWS

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors		 2021
£
12,315
8,159
20,474		 2020
£
12,106
48,120
60,226

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2021
£
13,096
16,304
3,785
274,834
308,019		 2020
£
17,259
14,581
406
272,134
304,380

16. DEFERRED INCOME

Balance brought forward
Amount released to income earned from charitable activities
Amount deferred in period
Carried forward		 2021
£
220,257
(220,257)
234,741
234,741		 2020
£
228,594
(228,594)
220,257
220,257

Deferred income relates to nursery fees received in advance of the Autumn term.

17. OPERATING LEASE COMMITMENTS

At 31 August the Charity had annual commitments under non-cancellable operating leases as follows:

Expiring:
Within one year
Between one and five years		 2021
£
311
-
311		 2020
£
410
-
410

Lease payments recognised as an expense during the year were £24,097 (2020 - £11,504).

24

BOWS AND ARROWS

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed Assets
Current Assets
Current Liabilities
Prior year comparative
Fixed Assets
Current Assets
Current Liabilities
19.MOVEMENT IN FUNDS
Unrestricted Funds
General Fund
Fundraising
Deprivation (Special)
Restricted Funds
Capital
Deprivation
SENCO
EYPP
Restricted projects
Lighting Fund (Buttons & Bows)
PVI - ELSA
PVI - PD Day
IOA - Family Support Practitioner
IOA - Summer Term Activities
Engaged Communities
TOTAL FUNDS		 Unrestricted
funds
£
76,803
884,522
(298,394)		 Restricted
funds
£
756,420
38,094
(9,625)		 2021 Total
funds
£
833,223
922,616
(308,019)
662,931 784,889 1,447,820
Unrestricted
funds
£
52,482
730,232
(304,380)		 Restricted
funds
£
830,139
23,760
-		 2020 Total
funds
£
882,621
753,992
(304,380)
478,334 853,899 1,332,233
At
31 August
2020
£
475,695
1,027
1,612
478,334
830,139
-
-
-
1,606
11,570
10,584
-
-
-		 Net
movement
in funds
£
185,933
276
(1,612)
184,597
(73,719)
-
-
-
(1,606)
-
(3,011)
4,553
4,589
184		 At
31 August
2021
£
661,628
1,303
-
662,931
756,420
-
-
-
-
11,570
7,573
4,553
4,589
184
853,899 (69,010) 784,889
1,332,233 115,587 1,447,820

25

BOWS AND ARROWS

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

19. MOVEMENT IN FUNDS – continued

Net movement in funds, included in the above are as follows:

Unrestricted Funds
General fund
Fundraising
Deprivation (Special)
Restricted Funds
Capital
Buttons & Bows
Wigwams
Little Learners
Deprivation
Buttons & Bows
Wigwams
Triangle
Little Learners
Wellington
Nature Den
SENCO
Buttons & Bows
Wigwams
Triangle
Little Learners
Wellington
Nature Den
EYPP
Buttons & Bows
Wigwams
Triangle
Little Learners
Wellington
Nature Den
Restricted projects
Lighting Fund (Buttons & Bows)
PVI - ELSA
PVI - PD Day
IOA - Family Support Practitioner
IOA - Summer Term Activities
Engaged Communities
Wingate
TOTAL FUNDS		 Incoming
resources
£
1,701,967
1,121
-
1,703,088
-
-
-
8,919
3,833
3,676
6,468
1,065
2,925
5,883
1,225
8,293
13,374
14,780
7,108
3,430
894
1,778
3,705
1,940
2,516
500
-
-
23,500
3,805
5,000
(145)		 Resources
expended
£
(1,516,883)
(845)
-
(1,517.728)
(7,586)
(7,781)
(58,352)
(8,919)
(3,833)
(3,676)
(6,468)
(1,065)
(2,925)
(5,883)
(1,225)
(8,293)
(13,374)
(14,780)
(7,108)
(3,430)
(894)
(1,778)
(3,705)
(1,940)
(2,516)
(2,724)
-
(3,011)
(18,947)
(3,621)
(411)
-		 Transfers
£
849
-
(1,612)
(763)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
618
-
-
-
-
-
145		 Movement
in funds
£
185,933
276
(1,612)
184,597
(7,586)
(7,781)
(58,352)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(1,606)
-
(3,011)
4,553
184
4,589
-
124,472 (194,245) 763 (69,010)
1,827,560 (1,711,973) - 115,587

26

BOWS AND ARROWS

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

19. MOVEMENT IN FUNDS – continued

Fund transfers:

Prior year comparative

Unrestricted Funds
General Fund
Fundraising
Deprivation (Special)
Restricted Funds
Capital
Restricted projects
Lighting Fund (Buttons & Bows)
PVI - ELSA
PVI - PD Day
TOTAL FUNDS		 At
31 August
2019
£
275,454
6,920
5,618
287,992
846,330
1,606
-
-		 Net
movement
in funds
£
200,241
(5,893)
(4,006)
190,342
(16,191)
-
11,570
10,584		 At
31 August
2020
£
475,695
1,027
1,612
478,334
830,139
1,606
11,570
10,584
847,936 5,963 853,899
1,135,928 196,305 1,332,233

27

BOWS AND ARROWS

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

19. MOVEMENT IN FUNDS – continued

Net movement in funds, included in the above are as follows:

Unrestricted Funds
General fund
Fundraising
Deprivation
Deprivation (Special)
Restricted Funds
Capital
Buttons & Bows
Wigwams
Little Learners
SENCO
Buttons & Bows
Wigwams
Triangle
Little Learners
Wellington
Nature Den
EYPP
Buttons & Bows
Wigwams
Triangle
Little Learners
Wellington
Nature Den
DAF
Buttons & Bows
Wigwams
Triangle
Little Learners
Nature Den
Restricted projects
PVI – ELSA
PVI – PD day
IOA – 2 Year Project
Reggio
Wingate
TOTAL FUNDS		 Incoming
resources
£
1,671,128
4,295
37,747
-
1,713,170
-
-
-
18,126
4,246
16,760
9,850
6,577
8,126
3,299
1,668
2,718
2,415
663
2,717
1,845
2,460
615
615
1,230
12,500
12,500
23,890
6,910
6,684		 Resources
expended
£
(1,470,682)
(10,188)
(39,382)
(4,007)
(1,524,259)
(7,586)
(7,781)
(4,847)
(18,126)
(4,246)
(16,760)
(9,850)
(6,577)
(8,126)
(3,299)
(1,668)
(2,718)
(2,415)
(663)
(2,717)
(1,845)
(2,460)
(615)
(615)
(1,230)
(930)
(1,916)
(18,436)
(6,910)
(6,684)		 Transfers
£
(204)
-
1,635
-
1,431
-
-
4,023
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(5,454)
-
-		 Movement
in funds
£
200,242
(5,893)
-
(4,007)
190,342
(7,586)
(7,781)
(824)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
11,570
10,584
-
-
-
146,414 (139,020) (1,431) 5,963
1,859,584 (1,663,279) - 196,305

28

BOWS AND ARROWS

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

19. MOVEMENT IN FUNDS – continued

Fund transfers:

The income funds of the charity include restricted funds comprising the following grants held on trust for specific purposes:

Deprivation

Fund to be used to improve outcomes for children, living in deprived areas, attending our various settings. The money is provided by Suffolk County Council.

Special Education Needs Coordinator (SENCO)

Grants given to nurseries to fund the work of SENDCO in supporting children registered at the nurseries who have additional needs. The money is provided by Suffolk County Council.

Early Years Pupil Premium (EYPP)

The Early Years Pupil Premium (EYPP) is additional funding from the DfE, via Suffolk County Council, for Early Years providers to help them improve the education they provide for disadvantage 3- and 4-year-olds.

Lighting Fund

Grant received from Suffolk County Council to improve the lighting on the pathway at the Buttons and Bows nursery.

Ipswich Opportunity Area (‘IOA’) – Summer Term Activities

A grant provided to fund activities for school readiness including summer outdoor learning and the provision of book bags and other useful resources.

Ipswich Opportunity Area – Family Support Practitioners

A grant provided to support the employment of a number of family support practitioners to assist with the challenges facing families as a result of the COVID pandemic. This included facilitation of home learning and the assistance with the transition for children from a preschool setting to school.

Ipswich Opportunity Area - PVI ‘Emotional Literacy Support Assistant (ELSA) Training’

A training grant for early years settings to develop the workforce in line with Ipswich Opportunity Area aims. This element of funding was to provide Emotional Literacy Support Assistant (ELSA) training for our staff.

29

BOWS AND ARROWS

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

19. MOVEMENT IN FUNDS – continued

Ipswich Opportunity Area - PVI ‘Professional Development Day’

Funds provided by the Ipswich Opportunity Area to provide an inspiring one-day conference for all Bows and Arrows staff on the professional development day in April 2020. The conference was to provide training and workshops on physical and mental health. The training was postponed due to COVID 19, and these funds are being used for alternative professional development training as agreed with IOA.

Engaged Communities

Grant provided to support our nurseries following the COVID-19 pandemic.

20. PENSION COMMITMENTS

The Charity operates a group personal pension scheme, the assets of which are held in an independently administered fund. Employer’s contributions paid during the year amounted to £18,057 (2020: £18,126).

All staff are allocated to either a nursery setting or a project fund which they work on. Project funds will dictate the charitable activity the employer pension contributions should go against as an expense. All projects are noted as being restricted or unrestricted funds and so the project fund allocated for the employee to work on will also dictate whether the individual employer pension contributions go against restricted or unrestricted funds.

21. RELATED PARTY TRANSACTIONS

The following related party transactions occurred during the year, all of which were on an arm’s length basis:

The remuneration of key management for the year was £68,525 (2020: £66,300).

22. RECONCILIATION OF NET INCOME / (EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income / (expenditure) for the year
Adjustments for:
Depreciation charge
Interest from investments
(Increase) / decrease in debtors
Increase / (decrease) in creditors		 2021
2020
£
£
115,587
196,305
78,462
23,735
(40)
(143)
39,752
(30,419)
3,639
(16,137)
237,400
173,341

30

BOWS AND ARROWS

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2021

23. ANALYSIS OF CHANGES IN NET DEBT

Cash in hand and at bank At 31 August
2020
Cash flows
Other non-
cash
changes
At 31 August
2021
£
£
£
£
693,766
208,376
-
902,142

24. COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee. Each of the members has undertaken to contribute an amount not exceeding £10 towards the assets of the company in the event of the same being wound up, while he or she is a member, or within one year after he or she ceases to be a member, and the assets being insufficient to cover the company’s debts and liabilities.

25. ULTIMATE CONTROLLING PARTY

The Charity is controlled by the trustees who form the board of directors.

31