Report of the Trustees and
Unaudited Financial Statements
For the Year Ended 31 August 2024
for
Wokingham Day Nursery
Wokingham Day Nursery
Contents of the Financial Statements
For the Year Ended 31 August 2024
| CONTENTS | PAGE |
|---|---|
| Company Information | 1 |
| Report of the Trustees | 1 - 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 - 9 |
| Notes to the Financial Statements | 11 - 14 |
| Independent Examiner Report | 16 - 17 |
Wokingham Day Nursery
Report of the Trustees
For the Year Ended 31 August 2024
The trustees who are also directors of the charity for the purpose of the Companies Act 2006, present their report with the financial statements of the company for the year ended 31 August 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCES AND ADMINISTRATIVE DETAILS
The charity is a company with registration number 06316243 (England and Wales)
The company is registered as a charity with Registered Charity Number 1129857
The registered office is Westcott Road Wokingham Berkshire RG40 2ER
TRUSTEES
The directors shown below have held office during the year ended 31 August 2024. J Noone A Hawkins K Clarke (resigned 27.09.2023) W Neal K Neal (resigned 27.09.2023) Y Kiima C Weeks H Flavin S Anbalagan (resigned 27.09.2023) K Gilder (appointed 27.09.2023)
COMPANY SECRETARY:
W Neal
INDEPENDENT EXAMINER
Sandra Douglas SKD Accounting 62 Westmorland Road Warfield
- 3 -
Wokingham Day Nursery
Report of the Trustees
For the Year Ended 31 August 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
GOVERNING DOCUMENT
The charity is controlled by its governing document, articles of association and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
RECRUITMENT AND APPOINTMENT OF NEW TRUSTEES
For the purposes of charity law the trustees (directors) are also known as members of the committee. Parent members of the committee give their time voluntarily. All new members are voted for appointment by existing committee members at the committee meetings. The decision of the appointment always includes a minimum of two committee members.
INDUCTION AND TRAINING OF NEW TRUSTEES
There is an induction package for all new members of the committee to familiarise themselves with the charity. This induction pack includes DBS and Ofsted checks for all members working in the setting. The induction package is issued and monitored by the chairperson and manager of the committee.
ORGANISATION STRUCTURE
The committee, who are responsible for the charity, meet regularly to discuss its operation and all future affairs. The business and nursery managers have the responsibility of the day to day running of the setting and the committee are responsible for ensuring that the legal responsibilities are carried out including ensuring all financial obligations and procedures are adhered to. The managers’ of the charity attends all committee meetings but do not have voting rights on any issues where there would be a conflict of interest. The secretary also attends the meetings and has voting rights.
RISK MANAGEMENT
The main risk of the charity is its closure and the financial implications of it. To minimise the risk the charity has opened a reserve bank account to save funds that will cover all final bills and salary payment if the charity was to close. The amount saved in the reserve is reviewed by the committee regularly. The charity has no loans or investments.
The charity has PLA Public Liability Insurance to cover and protect both staff and children and to ensure that staff members work with minimum risk to anyone.
- 4 -
Wokingham Day Nursery
Report of the Trustees
For the Year Ended 31 August 2024
OBJECTIVES AND ACTIVITIES
The company is established to provide affordable, safe and satisfying pre-school activities for children aged 2 to 5 years of age; in particular a minimum of 10% of our spaces are allocated fully funded to families on low income)
Children aged 5 years and over are accepted during the school holiday periods at the discretion of the Manager.
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities in committee meetings.
ACHIEVEMENTS AND PERFORMANCE
During the year, the company continued to provide pre-school activities for children aged 2 to 5. The number of children attending the nursery fluctuated during the year.
FUTURE DEVELOPMENTS
The charity will continue to equip the nursery by renewing and investing in current and new resources for the children.
All new and current members of staff are generally required to hold a Level 3 Childcare qualification or an absolute minimum of a Level 2 and will continue to receive adequate training to continue their professional development.
To continue to build strong relationships with all children and their families, the charity will continue to seek outside support from agencies and appropriate parties when necessary.
The charity aims to continue to review all areas, making and carrying out plans for improvement within the setting to enhance the outcome for all children.
- 5 -
Wokingham Day Nursery
Report of the Trustees
For the Year Ended 31 August 2024
FINANCIAL REVIEW
The principal course of income is Pre-school and Day Care fees, followed by Nursery Education Grants (NEG) from the local authority, fundraising and any additional grants received throughout the year.
The charity receives support grants to assist with extra staffing as and when they have a child with particular needs. These grants are received in a cash by cash basis and are used to pay for an extra staff member to support and work one to one with the child and to buy specific resources the child needs.
The fundraising activities for the year were primarily our Christmas raffle, Round Table Santa Sleigh and our Summer Fayre with small amounts raised from photo commissions and donations from parents.
The charity does not make grants and the money it receives is not invested, except for bank interest received in the bank reserve account.
This report is prepared in accordance with the small companies regime of the Companies Act 2006.
ON BEHALF OF THE BOARD:
Signed…………………………………… am Weone
Joanna Noone Name……………………………………
Date: ……………………………… 25th September 2024
- 6 -
Wokingham Day Nursery
Statement of Financial Activities
For the Year Ended 31 August 2024
| 31 August 2024 |
31 August 2024 |
31 August 2023 |
31 August 2023 |
||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| INCOMING RESOURCES | |||||
| Incoming resources from generated funds | |||||
| Fundraising and other income | 1,849 | 2,265 | |||
| Incoming resources from charitable activities | |||||
| Fees | 281,921 | 252,975 | |||
| Other incoming resources | |||||
| Misc Income Compensation & Milk Refunds | 1,434 | 1,673 | |||
| Interest receivable and similar income | 2,515 | 759 | |||
| ───────────── | ───────────── | ||||
| Total incoming resources | 287,719 | 257,672 | |||
| RESOURCES EXPENDED | |||||
| Other resources expended | (267,481) | (250,578) | |||
| ───────────── | ───────────── | ||||
| NET INCOMING RESOURCES | 2 | 20,238 | 7,094 | ||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 74,033 | 66,939 | |||
| TOTAL FUNDS CARRIED FORWARD | 94,271 | 74,033 | |||
| ───────────── | ───────────── |
The notes form part of these financial statements.
- 7 -
Wokingham Day Nursery
Balance Sheet
As at 31 August 2024
| As at 31 August 2024 | |||
|---|---|---|---|
| FIXED ASSETS | 31 August 2024 Note £ |
31 August 2023 £ |
|
| Fixed Assets | 6 | - | - |
| CURRENT ASSETS | |||
| Debtors | 7 | 310 | 4,104 |
| Long term Debtors | 0 | 0 | |
| Cash at bank | 157,139 | 111,059 | |
| ─────────── | ─────────── | ||
| 157,449 | 115,163 | ||
| ─────────── | ─────────── | ||
| CREDITORS | |||
| Amounts falling due within one year | 8 | (63,178) | (41,130) |
| ─────────── | ─────────── | ||
| NET CURRENT ASSETS | 94,271 | 74,033 | |
| ─────────── | ─────────── | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 94,271 | 74,033 | |
| ═══════──══ | ═──════════ | ||
| CAPITAL AND RESERVES | |||
| Called-up share capital | 10 | - | - |
| Unrestricted fund: Other reserves | 11 | 74,033 | 66,939 |
| Unrestricted fund: Income and expenditure account | 20,238 | 7,094 | |
| ─────────── | ─────────── | ||
| TOTAL SHAREHOLDERS' FUNDS | 94,271 | 74,033 | |
| ═══════──══ | ═──════════ |
The notes form part of these financial statements.
- 8 -
Wokingham Day Nursery
Balance Sheet
As at 31 August 2024
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 (the Act) for the year ended 31 August 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Act.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The financial statements were approved by the Board of Directors on
25th September 2024
……………………………… and were signed on its behalf by:
……………………………………………… am WMoene Director
Joanna Noone ……………………………………………… Name
- 9 -
For the Year Ended 31 August 2024
Wokingham Day Nursery
Notes to the Financial Statements
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement for Financial Activities where the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. Where costs cannot be directly attributed to a particular heading 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.
Plant and Machinery
33% on cost
Operating Leases
Payments under operating lease are recognised in the Statement of Financial Activities as they fall due.
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.
2. NET INCOMING/(OUTGOING) RESOURCES
Net resources are stated after charging:
31 August 31 August 2024 2023 £ £ Depreciation - owned assets - - ═════════ ═════════
- 10 -
Wokingham Day Nursery
Notes to the Financial Statements
For the Year Ended 31 August 2024
4. TRUSTEES REMUNERATION AND BENEFITS
| 31 August | 31 August | ||
|---|---|---|---|
| 2024 | 2023 | ||
| Trustees' salaries | 21,090 | 19,662 | |
| Trustees employer’s social security | 1,239 | 1,005 | |
| ══════════ | ═════════ | ||
| 22,329 | 20,667 | ||
| ══════════ | ═════════ | ||
| Trustee expenses | 240 | 240 | |
| 5. | STAFF COSTS | ||
| 31 August | 31 August | ||
| 2024 | 2023 | ||
| Staff salaries | 183,037 | 172,742 | |
| Staff employer’s social security | 8,876 | 6,781 | |
| ══════════ | ═════════ | ||
| 191,913 | 179,523 |
||
| ══════════ | ═════════ | ||
| 31 | 31 | ||
| August | August | ||
| 2024 | 2023 | ||
| Average number of employees | 11 | 11 |
No employee received emoluments in excess of £60,000.
- 11 -
Wokingham Day Nursery
Notes to the Financial Statements
For the Year Ended 31 August 2024
6. TANGIBLE FIXED ASSETS
| Plant and Machinery £ COST At 1 September 2023 and at 31 August 2024 0 DEPRECIATION At 1 September 2023 0 Charge for year - At 31 August 2024 0 NET BOOK VALUE At 31 August 2022 - At 31 August 2023 - 7. DEBTORS 31 August 2024 £ Trade debtors – fees outstanding 310 ══════════ |
Total £ 0 0 - 0 - - 31 August 2023 £ 4,104 ═════════ |
|---|---|
- 12 -
Wokingham Day Nursery
Notes to the Financial Statements
For the Year Ended 31 August 2024
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31st Nursery Fees September 24 Fees Trade Creditors Payments received in advance – WBC |
August 2024 31st August 2023 £ £ 7,519 4,672 500 480 55,159 35,978 63,178 41,130 |
|---|---|
9. COMITTMENTS UNDER OPERATING LEASE
The company has entered into the following commitments under noncancellable operating leases
| Land and | Other | |
|---|---|---|
| other | ||
| buildings | ||
| Within one year | 6,000 | - |
| Within two to five years | - | - |
| More than five years | - | |
| 6,000 | - |
The company’s obligations under the lease of its premises from Wokingham District Council are guaranteed by the current Chair of Wokingham Day Nursery.
10. CALLED UP SHARE CAPITAL
The company has no share capital and is limited by guarantee.
- 13 -
Wokingham Day nursery
Notes to the Financial Statements
For the Year Ended 31 August 2024
11. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Income and | |||
| expenditure | Other | ||
| account | reserves | Totals | |
| £ | £ | £ | |
| At 1st September 2023 | 7,094 | 66,939 | 74,033 |
| Transfer between funds | (7,094) | 7,094 | - |
| Profit/Loss for the year | 20,238 | - | 20,238 |
| ─────── | 0───────────── |
───────────── | |
| As at 31 August 2024 | 20,238 | 74,033 | 94,271 |
| ═══════ | ═════════════ | ═════════════ |
12. ULTIMATE CONTROLLING PARTY
There is no ultimate controlling party.
- 14 -
Wokingham Day Nursery
Income and Expenditure Account
For the Year Ended 31 August 2024
| 31 August 2024 | 31 August 2024 | 31 | August 2023 | |
|---|---|---|---|---|
| £ | £ | £ | £ |
|
| Turnover | ||||
| Fees and grants | 281,921 | 252,975 | ||
| Other income | ||||
| Deposit account interest | 2515 | 759 | ||
| Fundraising and other income | 3,283 | 3,939 | ||
| ═════════════ | ═════════════ | |||
| 287,719 | 257,673 | |||
| Expenditure | ||||
| Wages and NI | 217,382 | 203,008 | ||
| Other staff costs (inc training) | 4,586 | 4,008 | ||
| Milk & food | 5,533 | 5,861 | ||
| Rent and rates | 8,704 | 4,935 | ||
| Utilities | 479 | 448 | ||
| Telephone | 1,125 | 1,013 | ||
| Insurance | 1,976 | 1,745 | ||
| Materials and activities | 6,214 | 4,429 | ||
| Contracts and Subscriptions | 4,596 | 6,751 | ||
| Stationery and copier | 543 | 1,239 | ||
| Maintenance and repairs | 1960 | 1,625 | ||
| Equipment and Toys | 9,004 | 9,874 | ||
| Sundries | 86 | 1,369 | ||
| Bank Charges | 156 | 120 | ||
| Household inc nappies & Cleaning | 3,552 | 3,197 | ||
| Professional Expenses | 180 | 180 | ||
| Nursery Improvements | 1405 | 0 | ||
| Bad Debt | 0 | 777 |
NET (LOSS) / PROFIT
═════════════ ═════════════ 267,481 250,579 ═════════════ ═════════════ 20,238 7,094 ═════════════ ═════════════
This page does not form part of the statutory financial statements.
- 15 -
WOKINGHAM DAY NURSERY COMPANY LIMITED BY GUARANTEE 06316243 REGISTERED CHARITY 1129857
INDEPENDENT EXAMINER’S REPORT TO THE DIRECTORS OF WOKINGHAM DAY NURSERY
I report on the accounts of the Trust for the year ended 31[st] August 2024, which are set out on pages 1 to 15.
Respective responsibilities of trustees and examiner
The charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeds £250,000 but its gross assets do not exceed £3.26m and so I am qualified to undertake the examination by being a qualified member of the Chartered Institute of Management Accountants.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
- 16 -
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 386 of the Companies Act 2006 and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed
............................. Sandra Douglas SKD Accounting Ltd
Date..09/12/2024……...
- 17 -