## **The Hundred of Hoo Nursery and Kids Club Limited**
**Trustees' report and financial statements**
31 August 2020
Company Limited by Guarantee Registration Number 06389366 (England and Wales) Charity number: 1131001
## **Contents**
## **Reports**
|**Reports**||
|---|---|
|Reference and administrative details of the||
|charity, its Trustees and advisers|1|
|Trustees' report|2|
|Independent auditor’s report on the financial||
|statements|6|
|**Financial Statements**||
|Statement of financial activities|9|
|Balance sheet|10|
|Statement of cash flows|11|
|Principal accounting policies|12|
|Notes to the financial statements|15|
## **Reference and administrative information** 31 August 2020
**Trustees** Ms D Biggenden Ms S Crocker Mr M Costello Mr N Willis **Company Secretary** Ms F Reizopoulou **Registered office** The Hundred of Hoo Academy Main Road Hoo St Werburgh Rochester Kent ME3 9HH **Company registration number** 06389366 (England and Wales) **Charity registered number** 1131001 **Auditors** Buzzacott LLP 130 Wood Street London EC2V 6DL **Bankers** NatWest Bank Plc 148 High Street Chatham Kent ME4 4DB
The Hundred of Hoo Nursery and Kids Club Limited **1**
**Trustees’ report** 31 August 2020
The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the audited financial statements of The Hundred of Hoo Nursery and Kids Club Limited (the charitable company) for the year ended 31 August 2020. This report has been prepared in accordance with Part 8 of the Charities Act 2011 and serves as a directors’ report for the purposes of the Companies Act 2006.
The financial statements have been prepared in accordance with the accounting policies set out on pages 12 to 14 therein and comply with the charitable company’s Memorandum and Articles of Association, applicable laws 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 United Kingdom and Republic of Ireland (FRS 102).
## **Structure, governance and management**
The charitable company was incorporated on 3 October 2007 (Company Number 06389366). The charitable company is a Company Limited by Guarantee and is governed by its Memorandum & Articles of Association. The members of the charitable company are the Trustees named on page 1. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charitable company. The charitable company registered as a charity on 7 August 2009 (Charity Registration Number 1131001).
## **Trustees**
The Trustees who served during the period were as follows:
|**Trustees**|**Appointed/Resigned**|
|---|---|
|Deborah Biggenden|Appointed 20 September 2019|
|Michael Costello|Appointed 10 December 2019|
|Susan Crocker||
|Karen Major|Resigned 20 September 2019|
|Neil Willis||
## **Method of appointment or election of Trustees**
The management of the charitable company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum & Articles of Association.
## **Remuneration of key management personnel**
All Trustees give their time freely and receive no remuneration. The pay and remuneration of key management personnel is set by the Pay Committee.
## **Objectives and activities**
The principal activity of the charitable company is the operation of a Nursery and Kids Club in Hoo St Werburgh, Rochester, for the purpose of the advancement of education. In setting our objectives and planning our activities, the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit.
The Hundred of Hoo Nursery and Kids Club Limited
**2**
**Trustees’ report** 31 August 2020
## **Achievements, performance and plans**
The nursery continues to have strong links with its local community, offering early education to around 175 children aged up to 11 years of age from the local community.
Since joining Leigh Academies Trust (“The Trust”) in January 2019, at the same time as the adjacent Hundred of Hoo Academy, the nursery has strengthened its offer to children and their families by accessing a range of services the Trust is able to offer.
In July 2019, the nursery received an inspection by Ofsted. The overall quality and standards of the early provision was identified as Good, but the nursery was rated as Outstanding for the quality of personal development, behaviour and welfare. The report identified that children of all ages make good progress and gain good skills to support their future learning. The staff were described as inspirational role models, who establish outstanding relationships with the children and their families.
The nursery has continued to invest in the learning environment and resources with the support of the Trust. Consequently, enhancements have been made within the building to create more flexible spaces and the outdoor learning areas have been enhanced to improve opportunities for effective play.
It was recognised that there needed to be improvements in IT resources for both learning and administration. Delivery of new, more effective systems has both improved the efficiency of systems and the range of ways in which the children are able to learn.
The nursery team of Manager, Deputy Manager and early years practitioners remains strong and turnover of staff has remained low. Where new or additional team members have been required, high quality candidates have been supplied with the assistance of the LAT recruitment team. This ensures that every child receives consistently high quality care and education.
## **Impact of Covid-19 on the charity**
As a result of the closure of the Hundred of Hoo Nursery and Kids Club during the Covid-19 pandemic, the charitable company did not receive fees from some parents. The majority of funding, which comes from government, continued. After accounting for cost savings resulting from the closure, a net loss of approximately £40,000 was incurred. No applications were made to the government's Job Retention Scheme.
## **Financial review**
The attached financial statements show the current state of the finances, which the Trustees consider to be sound.
Reserves of £62,191 have been accumulated at 31 August 2020, which are all unrestricted funds.
The Hundred of Hoo Nursery and Kids Club Limited **3**
**Trustees’ report** 31 August 2020
## **Reserves policy**
As described in the accounting policies, the Trustees have a policy that a fixed asset fund should be maintained to fund the future depreciation of fixed assets. This fund represents the net book value of fixed assets already purchased and so this fund is not available for spending. Beyond this, the policy on reserves is that restricted general funds should not fall below zero. The level of such reserves tends to be modest as the charity is run on a not for profit basis. Trustees will keep the policy under review if there should be a material change in financial circumstances.
## **Public Benefit**
The Board of Trustees has taken account of the Charity Commission’s guidance on public benefit in reviewing Borne’s aims and objectives and planning future activities.
## **Fundraising**
The charitable company does not actively solicit fundraising from the public. During the year there were no complaints in respect of fundraising.
## **Risk management**
The charitable company has identified the following key risks and has put mitigation in place:
- a decrease in pupils on roll which would lead to a decrease in funding and fee income; and
- recruitment of appropriately qualified staff to meet the needs of the pupils of the nursery, especially the younger age group.
## **Trustees’ responsibilities statement**
The Trustees (who are also directors of The Hundred of Hoo Nursery and Kids Club Limited 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 period. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
The Hundred of Hoo Nursery and Kids Club Limited
**4**
**Trustees’ report** 31 August 2020
**Trustees’ responsibilities statement** (continued)
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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.
In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the Trustees on 8 December 2020 and signed on their behalf by:
N Willis
Trustee
The Hundred of Hoo Nursery and Kids Club Limited **5**
## **Independent auditor’s report** 31 August 2020
## **Independent auditor’s report to the members of The Hundred of Hoo Nursery and Kids Club Limited**
## **Opinion**
We have audited the financial statements of The Hundred of Hoo Nursery and Kids Club Limited (the ‘charitable company’) for the year ended 31 August 2020 which comprise the statement of financial activities, the balance sheet, statement of cash flows, the principal accounting policies and the notes to the financial statements. 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:
- give a true and fair view of the state of the charitable company’s affairs as at 31 August 2020 and of its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **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 auditor’s 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**
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the 31 August 2020 when the financial statements are authorised for issue.
## **Other information**
The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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.
The Hundred of Hoo Nursery and Kids Club Limited
**6**
## **Independent auditor’s report** 31 August 2020
## **Other information** (continued)
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.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees’ report, which is also the directors’ report for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Trustees’ report, which is also the directors’ report for the purposes of company law, has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the 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:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the Trustees’ report and from the requirement to prepare a strategic report.
## **Responsibilities of Trustees**
As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) 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.
The Hundred of Hoo Nursery and Kids Club Limited **7**
## **Independent auditor’s report** 31 August 2020
## **Responsibilities of Trustees** (continued)
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.
## **Auditor’s 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 auditor’s 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.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at 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 auditor's 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 the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Katharine Patel (Senior Statutory Auditor) For and on behalf of Buzzacott LLP, Statutory Auditor 130 Wood Street London EC2V 6DL
Date: 12 January 2021
The Hundred of Hoo Nursery and Kids Club Limited **8**
## **Statement of financial activities**
## **(incorporating income and expenditure account)** Year to 31 August 2020
|Notes|
**Unrestricted**
**funds**
**2020**
**£**|**Restricted**
**funds**
**2020**
**£**|**2020**
**Total**
**funds**
**£**|Unrestricted
funds
2019
£|Restricted
funds
2019
£|2019
Total
funds
£|
|---|---|---|---|---|---|---|
|**Income from:**
Charitable activities
1
Total income
**Expenditure on:**
Charitable activities
2
Total expenditure
Net (expenditure) income and
net movement in funds
**Reconciliation of funds**
Total funds brought forward at 1
September 2019
Total funds carried forward 31
August 2020|
**448,453**|**3,495**|**451,948**|539,198|4,352|543,550|
||**448,453**|**3,495**|**451,948**|539,198|4,352|543,550|
||
**499,634**|**3,495**|**503,129**|522,527|5,861|528,388|
||**499,634**|**3,495**|**503,129**|522,527|5,861|528,388|
||**(51,181)**
**113,372**|**—**
**—**|**(51,181)**
**113,372**|16,671
96,701|(1,509)
1,509|15,162
98,210|
||**62,191**|**—**|**62,191**|113,372|—|113,372|
The notes on pages 15 to 19 form part of these financial statements
The Hundred of Hoo Nursery and Kids Club Limited **9**
## **Balance sheet** 31 August 2020
|Notes|**2020**
**£**|**2020**
**£**|2019
£|2019
£|
|---|---|---|---|---|
|**Fixed assets**
Tangible fixed assets
5
**Current assets**
Debtors
6
Cash at bank and in hand
**Liabilities**
Creditors: amounts falling due
within one year
7
**Net current assets**
Total assets less current liabilities
**Net assets**
**Funds and reserves:**
Restricted funds
8
Unrestricted funds
8
**Total funds**|**6,954**
**97,617**|**25,597**
**36,594**|6,668
151,962|9,129
104,243|
||**104,571**
**(67,977)**||158,630
(54,387)||
||||||
|||**62,191**||113,372|
|||**62,191**||113,372|
|||**—**
**62,191**||—
113,372|
|||**62,191**||113,372|
The financial statements were approved and authorised for issue by the Trustees on 8 December 2020 and signed on their behalf, by:
## N Willis
## Trustee
The notes on pages 15 to 19 form part of these financial statements.
The Hundred of Hoo Nursery and Kids Club Limited **10**
**Statement of cash flows** Year to 31 August 2020
||**2020**
**£**|2019
£|
|---|---|---|
|**Net cash inflows from operating activities**
Net cash (used in) provided by operating activities
A
**Cash flows from investing activities:**
Purchase of tangible fixed assets
Net cash used in investing activities
**Change in cash and cash equivalents in the year**
**Cash and cash equivalents at 1 September 2019**
B
**Cash and cash equivalents at 31 August 2020**
B|
**(26,347)**|45,158|
||**(27,998)**|(1,501)|
||**(27,998)**|(1,501)|
||**(54,345)**
**151,962**|43,657
108,305|
||**97,617**|151,962|
## **A. Reconciliation of net movement in funds to net cash flow from operating activities**
||**2020**
**£**|2019
£|
|---|---|---|
|Net (expenditure) income for the year (as per statement of financial
activities)
**Adjustment for:**
Depreciation charges
(Increase) decrease in debtors
Increase in creditors
**Net cash(used in) provided by operating activities**|**(51,181)**
**11,529**
**(285)**
**13,590**|15,162
3,481
14,376
12,139|
||**(26,347)**|45,158|
## **B. Analysis of cash and cash equivalents**
||**2020**
**£**|2019
£|
|---|---|---|
|Cash at bank and in hand
**Total**|**97,617**|151,962|
||**97,617**|151,962|
The Hundred of Hoo Nursery and Kids Club Limited **11**
**Principal accounting policies** 31 August 2020
## **Basis of preparation of financial statements**
The financial statements have been prepared in accordance with 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) - (Charities SORP), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Hundred of Hoo Nursery and Kids Club Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **Critical accounting estimates and areas of judgement**
Preparation of the accounts requires the trustees to make significant judgements and estimates. The items in the accounts where these judgements and estimates have been made include:
- estimating the impact of the Covid-19 pandemic on future income and expenditure flows and the charity’s financial position; and
- estimating the economic useful life of fixed assets.
## **Going concern**
The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or condition that may cast significant doubt on the ability of the charitable company to continue as a going concern. The Trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. In making this assessment the Trustees have considered the ongoing impact of Covid-19.
## **Income**
All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Support costs are those costs incurred directly in support of expenditure on the objects of the charitable company.
Charitable activities are costs incurred on the charitable company's educational operations, including support costs and costs relating to the governance of the charitable company apportioned to charitable activities
The Hundred of Hoo Nursery and Kids Club Limited **12**
**Principal accounting policies** 31 August 2020
## **Tangible fixed assets and depreciation**
All assets costing more than £500 are capitalised.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Improvement to premises Over the term of the lease Furniture fixtures and fittings 15% straight line basis Other equipment 25% straight line basis Computer equipment 25% straight line basis
## **Operating leases**
Rentals under operating leases are charged to the statement of financial activities on a straight line basis over the lease term.
## **Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charitable company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges
## **Financial instruments**
The charitable company only has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
The Hundred of Hoo Nursery and Kids Club Limited **13**
**Principal accounting policies** 31 August 2020
## **Pensions**
The charitable company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the pension fund in respect of the year.
## **Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **Critical accounting estimates and areas of judgment**
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
## _**Critical accounting estimates and assumptions**_
The charitable company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
## _**Lease commitments**_
The charitable company has entered into a range of lease commitments in respect of property, plant and equipment. The classification of these leases as either financial or operating leases requires the Trustees to consider whether the terms and conditions of each lease are such that the charitable company has acquired the risks and rewards associated with the ownership of the underlying assets.
The Hundred of Hoo Nursery and Kids Club Limited
**14**
**Notes to the financial statements** 31 August 2020
## **1. Income from charitable activities**
||**Unrestricted**
**funds**
**2020**
**£**|**Restricted**
**funds**
**2020**
**£**|**2020**
**Total**
**funds**
**£**|Unrestricted
funds
2019
£|Restricted
funds
2019
£|2019
Total
funds
£|
|---|---|---|---|---|---|---|
|Fees receivable
Nursey Vouchers
EYPP funding
MTSA funding
DAF funding|**191,380**
**257,073**
**—**
**—**
**—**|**—**
**—**
**1,895**
**—**
**1,600**|**191,380**
**257,073**
**1,895**
**—**
**1,600**|287,015
251,501
—
682
—|—
—
4,352
—
—|287,015
251,501
4,352
682
—|
||**448,453**|**3,495**|**451,948**|539,198|4,352|543,550|
## **2. Analysis of expenditure on charitable activities**
||**Unrestricted**
**funds**
**2020**
**£**|**Restricted**
**funds**
**2020**
**£**|**2020**
**Total**
**funds**
**£**|Unrestricted
funds
2019
£|Restricted
funds
2019
£|2019
Total
funds
£|
|---|---|---|---|---|---|---|
|Charitable activities|**499,634**|**3,495**|**503,129**|522,527|5,861|528,388|
||**2020**
**Total**
**£**|2019
Total
£|
|---|---|---|
|Toys, books, magazines and materials
Food and drinks
Kitchen expenses
Advertising
Hygiene, cleaning and waste disposal
Uniforms and protective clothing
Subscriptions and software
Training
Insurance
Equipment hire
Repairs and renewals
Telephone
Stationery, printing, photocopying and postage
Sundry expenses
Gifts for staff and clients
Accounting and professional fees
Bank charges
Rent
Repayment of funds
EYPP offset expenditure
Wages and salaries
Depreciation
**Total**|**217**
**20,013**
**—**
**1,072**
**2,501**
**100**
**3,273**
**—**
**1,886**
**6,151**
**16,425**
**551**
**1,750**
**49**
**66**
**7,459**
**526**
**20,000**
**—**
**—**
**409,561**
**11,529**|8,492
34,274
220
1,152
2,709
727
2,882
570
1,871
4,039
3,713
685
865
4
1,184
8,689
488
20,251
40,000
2,608
389,484
3,481|
||**503,129**|528,388|
The Hundred of Hoo Nursery and Kids Club Limited
**15**
**Notes to the financial statements** 31 August 2020
## **3. Net (expenditure) income**
This is stated after charging:
|**Net (expenditure) income**
This is stated after charging:|||
|---|---|---|
||**2020**
**Total**
**£**|2019
Total
£|
|Depreciation of tangible fixed assets
Audit fees|**11,529**
**2,800**|3,481
2,750|
## **4. Staff costs**
Staff costs were as follows:
|**Staff costs**
Staff costs were as follows:|||
|---|---|---|
||**2020**
**Total**
**£**|2019
Total
£|
|Wages and salaries
Social security costs
Other pension costs|**385,027**
**19,077**
**5,457**|378,733
6,414
4,337|
||**409,561**|389,484|
The average number of persons employed by the charitable company during the year was 29 (2019: 29).
Average headcount expressed as a full time equivalent was 24 (2019 – 23).
No employee received remuneration amounting to more than £60,000 in either year.
During the financial year the remuneration and benefits received by the Charity’s Key Management Personnel amounted to £70,015(2019 – £67,953).
During the year, no Trustees received any remuneration (2019 – £nil).
During the year, no Trustees received any reimbursement of expenses (2019 – £nil).
The Hundred of Hoo Nursery and Kids Club Limited
**16**
**Notes to the financial statements** 31 August 2020
## **5. Tangible fixed assets**
||Improvements
to premises
£|Furniture,
fixtures &
fittings
£|Computer
and other
equipment
£|**Total**
**funds**
**£**|
|---|---|---|---|---|
|**Cost**
At 1 September 2019
Additions
At 31 August 2020
**Depreciation**
At 1 September 2019
Charge in year
At 31 August 2020
**Net book value**
At 31 August 2020
At 31 August 2019|17,461
—|20,281
1,060|4,382
26,938|**42,124**
**27,998**|
||17,461|21,341|31,320|**70,122**|
||17,461
—|11,780
2,765|3,755
8,764|**32,996**
**11,529**|
||17,461|14,545|12,519|**44,525**|
||—|6,796|18,801|**25,597**|
||—|8,501|627|**9,128**|
## **6. Debtors**
|**Debtors**|||
|---|---|---|
||**2020**
**Total**
**£**|2019
Total
£|
|**Due within one year**
Trade debtors
Other debtors
Prepayment and accrued income|**—**
**4,073**
**2,881**|4,873
—
1,795|
||**6,954**|6,668|
## **7. Creditors: Amounts falling due within one year**
|**Creditors: Amounts falling due within one year**|||
|---|---|---|
||**2020**
**Total**
**£**|2019
Total
£|
|Trade creditors
Other taxation and social security
Other creditors
Amount due to parent (note 13)
Accruals and deferred income|**1,865**
**4,685**
**1,791**
**32,709**
**26,927**|12,222
2,140
647
—
39,378|
||**67,977**|54,387|
||**2020**
**Total**
**£**|2019
Total
£|
|---|---|---|
|**Deferred income**
Deferred income at 1 September 2019
Resources deferred during the year
Amounts released from previous year
Deferred income at 31 August 2020|**15,948**
**23,805**
**(15,948)**|30,643
15,948
(30,643)|
||**23,805**|15,948|
The Hundred of Hoo Nursery and Kids Club Limited
**17**
**Notes to the financial statements** 31 August 2020
## **8. Funds**
|**2020**|Balance at
1 September
2019
£|Income
£|Expenditure
£|Transfers
£|**Balance at**
**31 August**
**2020**
**£**|
|---|---|---|---|---|---|
|**Unrestricted funds:**
**_Designated funds_**
Fixed asset fund
**_General funds_**
General fund
**Restricted funds**
EYPP
DAF
**Total funds**|9,129
104,243|—
448,453|(11,529)
(488,105)|
27,997
(27,997)|**25,597**
**36,594**|
||113,372|448,453|(499,634)|—|**62,191**|
||—
—|1,895
1,600|(1,895)
(1,600)|
—
—|**—**
**—**|
||—|3,495|(3,495)|—|**—**|
||113,372|451,948|(503,129)|—|**62,191**|
|**2019**|Balance at
1 September
2018
£|Income
£|Expenditure
£|Balance at
31 August
2019
£|
|---|---|---|---|---|
|**Unrestricted funds:**
**_Designated funds_**
Fixed asset fund
**_General funds_**
General fund
**Restricted funds**
EYPP
DAF
**Total funds**|11,109
85,592|1,501
537,697|(3,481)
(519,046)|9,129
104,243|
||96,701|539,198|(522,527)|113,372|
||1,150
359|4,352
—|(5,502)
(359)|—
—|
||1,509|4,352|(5,861)|—|
||98,210|543,550|(528,388)|113,372|
## **9. Analysis of net assets between funds**
|**2020**
Tangible fixed assets
Current assets
Creditors due within one year|Unrestricted
funds
2020
£|Restricted
funds
2020
£|**Total**
**funds**
**2020**
**£**|
|---|---|---|---|
||25,597
104,571
(67,977)|—
—
—|**25,597**
**104,571**
**(67,977)**|
||62,191|—|**62,191**|
The Hundred of Hoo Nursery and Kids Club Limited **18**
**Notes to the financial statements** 31 August 2020
## **9. Analysis of net assets between funds** (continued)
|**2019**|Unrestricted
funds
2019
£|Restricted
funds
2019
£|Total
funds
2019
£|
|---|---|---|---|
|Tangible fixed assets
Current assets
Creditors due within one year|9,129
158,630
(54,387)|—
—
—|9,129
158,630
(54,387)|
||113,372|—|113,372|
## **10. Pension commitments**
The charitable company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge represents contributions payable to the fund and amounted to £5,457 (2019 - £4,337). At the balance sheet date £1,176 was payable to the fund (2019 - £1,022).
## **11. Operating lease commitments**
At 31 August 2020 the total of the charitable company's future minimum lease payments under non-cancellable operating leases was:
|Equipment|**2020**
**£**|2019
£|
|---|---|---|
|**Amounts payable:**
within 1 year
**within 2-5years**|**2,964**
**3,705**|22,964
6,669|
## **12. Related party transactions**
During the year following amounts were paid to Leigh Academies Trust, the ultimate parent undertaking:
- Rent: £20,000 (2019: £20,251)
- Reimbursed purchases: £10,371 (2019: £812)
At 31 August 2020, £32,709 (2019: £3,809) was owed to Leigh Academies Trust.
## **13. Ultimate parent undertaking**
The parent undertaking is Leigh Academies Trust by virtue of assuming legal ownership of the Nursery from 1 January 2019 following a merger with the Nursery's previous parent company.
The Hundred of Hoo Nursery and Kids Club Limited **19**