**REGISTERED COMPANY NUMBER: 05445579 (England and Wales) REGISTERED CHARITY NUMBER: 1131725**
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2022
for
Filey Childcare Ltd
Asquith & Co Accountants Limited Rowan House 7 West Bank SCARBOROUGH North Yorkshire YO12 4DX
Filey Childcare Ltd
## Contents of the Financial Statements for the Year Ended 31 March 2022
|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|4|
|Independent Examiner's Report||5||
|Statement of Financial Activities||6||
|Balance Sheet|7|to|8|
|Notes to the Financial Statements|9|to|13|
|Detailed Statement of Financial Activities|14|to|15|
Filey Childcare Ltd
Report of the Trustees for the Year Ended 31 March 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The object of the charity is to provide nursery child care and education for babies and pre-school infants and to provide and promote classes, facilities, services and resources for educating and furthering the education of children.
Aims of the charity and strategies employed to achieve these objectives:
The main aim of the charity is to provide a sustainable child-care service maintaining high standards and operating at minimal costs.
The achievement of these aims will enhance the local community and local parents, in particular, by nurturing the children and beginning their learning process.
The achievement of these aims will further the purposes of the charity by enabling a high quality of learning and development for children, as well as to continue to be sustainable.
With regards to the provision of childcare facilities the staff are continually updating their training and welfare knowledge. Regular OFSTED inspections ensures the services are continually held to a high standard.
The criteria for measurement of success is the continued viability of the business, as well as aiming to better its OFSTED status. The charity also takes note of the number of children who use the facility who have older siblings also enrolled.
## **Significant activities**
The charity offers childcare services for children from 3 months to 12 years of age, split into age appropriate rooms. Coracles offers learning from 3 months to 2 and a half years in a sensory rich and heuristic environment. Cobles and Tugs offer 2 and a half to 3 and a half year olds hands on exploration, physical activity and routine. Toppers supports children in developing their own learning routine and Clippers is an out of school club giving children more freedom whilst providing structured activities.
With regards to the aim of sustainability, the charity has previously restructured the management team to make better use of staff resources, skills and roles. This has continued this year with changes to management due to staff leaving and this has been well managed and supported internally.
Due to the uncertain position of the charity at the current time the short term aim is to be sustainable and to continue to provide the high level of services previously undertaken. The longer term objective is to continue to provide quality learning and expand the services which the charity provides.
## **Public benefit**
We have referred to guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Public benefit is delivered by the charity through providing quality child care using experienced and qualified nursery staff. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
## **Volunteers**
Filey Child Care Ltd occasionally uses volunteers who provide an excellent contribution to the operation of the organisation through various fundraising activities. There are four volunteer committee members who oversee the charity.
Page 1
Filey Childcare Ltd
for the Year Ended 31 March 2022
## Report of the Trustees
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
On 21 September 2009, the organisation became a registered charity, registration number 1131725.
The charity has continued to be forward thinking and developed new initiatives and learning activities after receiving our 'good' OFSTED rating last year. The nursery has a great relationship with the primary school next door and has been able to benefit from their reading bus initiative.
The overarching objective - to provide high quality childcare to the local community at minimum cost - has been achieved. The charity is one of the most affordable providers in the local area, which is a key objective as Filey and Scarborough have 17 out of 23 of the most deprived geographic areas in the North Yorkshire area.
The financial objectives set by the charity (keeping a healthy reserve at a level which is equivalent to three to six months expenditure) have been met this year. Three months expenses is equivalent to approximately £120,000 and reserves currently stand at £135,302. This is despite a challenging year with Covid-19 adversely affecting the charity, with staff seeking to ensure the centre remained safe and open as restrictions permitted.
## **Fundraising activities**
The management team have been successful in gaining grants for projects to enhance the nursery and the learning opportunities for the children. All staff have been proactive with fundraising which has included a sponsored walk and one off donations to say thank you for the service that they are providing to the community.
The trustees accepted charitable grants totalling £1,344 (2021: £5,440).
The income made available to the trust over the year was £455,512 (2021: £463,087).
## **FINANCIAL REVIEW**
## **Financial position**
The future financial position of the charity remains uncertain. Covid-19 presented unprecedented operating conditions, yet reserves only decreased from £152,317 to £135,302 during the year. The longer term impact of Covid-19 is still unfolding, and coupled with competition from a school next door, national minimum wage increases and NYCC rent charges of £15,000 per year the charity is facing a challenging future.
## **Principal funding sources**
The principal funding source is private nursery and childcare fees. The charity receives income from NYCC which is based on early year care and the number of children receiving this care. There has been no increase in council funding this year.
## **Reserves policy**
It is the policy of the trustees that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months of expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charities current activities while consideration is given to ways in which additional funds may be raised.
## **FUTURE PLANS**
The charity remains committed to providing high quality childcare for the community, and will continue for as long as it remains financially viable.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The original Memorandum and Articles of Association was issued on 6 May 2005, but was amended by a Special Resolution dated 14 December 2018.
Page 2
Filey Childcare Ltd
Report of the Trustees
for the Year Ended 31 March 2022
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees**
The method and appointment of board members is set out in the Memorandum and Articles of Association.
Much of the day-to-day management of the charity's activites is delegated to employed staff who work in departments, often with volunteers.
## **Key management remuneration**
Key management personnel is reviewed and remains in line with other childcare providers and current operating activities of the charity.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
05445579 (England and Wales)
## **Registered Charity number**
1131725
## **Registered office**
Padbury Avenue Filey North Yorkshire YO14 0BA
## **Trustees**
Mrs J M Swift LLB Trustee Ms M J Liversidge Trustee Ms C M Fenby Teacher Mr P A Colling It Consultant
## **Independent Examiner**
Jennifer Springham FCCA Association of Chartered Certified Accountants Asquith & Co Accountants Limited Rowan House 7 West Bank SCARBOROUGH North Yorkshire YO12 4DX
## **Solicitors**
Swift HR & Legal Ltd Wesley House 1 Lora Courtyard Wykeham Scarborough YO13 9QP
## **Bankers**
Unity Trust Bank Nine Brindley Place Birmingham B1 2HB
Page 3
to Small LY)mpaDie&
MrsJM SwiftILB.
Independent Examiner's Report to the Trustees of Filey Childcare Ltd
## **Independent examiner's report to the trustees of Filey Childcare Ltd ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Association of Chartered Certified Accountants which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Jennifer Springham FCCA Association of Chartered Certified Accountants
Asquith & Co Accountants Limited Rowan House 7 West Bank SCARBOROUGH North Yorkshire YO12 4DX
5 September 2022
Page 5
Filey Childcare Ltd
## Statement of Financial Activities
## (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2022
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
4,891
**Charitable activities**
Activities undertaken directly
449,618
Investment income
3
65
**Total**
454,574
**EXPENDITURE ON**
**Charitable activities**
Activities undertaken directly
449,899
Support costs
21,690
**Total**
471,589
**NET INCOME/(EXPENDITURE)**
(17,015)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
152,317
**TOTAL FUNDS CARRIED FORWARD**
135,302|Restricted
funds
£
-
1,000
-
1,000
1,000
-
1,000
-
-
-|31.3.22
Total
funds
£
4,891
450,618
65
455,574
450,899
21,690
472,589
(17,015)
152,317
135,302|31.3.21
Total
funds
£
2,870
460,112
105
463,087
479,467
-
479,467
(16,380)
168,697
152,317|
|---|---|---|---|
The notes form part of these financial statements
Page 6
Filey Childcare Ltd
## Balance Sheet
## 31 March 2022
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
8
5,657
**CURRENT ASSETS**
Debtors
9
21,688
Cash at bank and in hand
131,794
153,482
**CREDITORS**
Amounts falling due within one year
10
(23,837)
**NET CURRENT ASSETS**
129,645
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
135,302
**NET ASSETS**
135,302
**FUNDS**
12
Unrestricted funds
**TOTAL FUNDS**|Restricted
funds
£
-
-
-
-
-
-
-
-|31.3.22
Total
funds
£
5,657
21,688
131,794
153,482
(23,837)
129,645
135,302
135,302
135,302
135,302|31.3.21
Total
funds
£
6,947
12,377
154,542
166,919
(21,549)
145,370
152,317
152,317
152,317
152,317|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
Thtse fula1 stst¢rn¢nts have been prepared in accojthnce wtth the provi5ioM applicable to Charitable companies
subject to the small wmpanies Yegime.
The fitwKiai statetnetts w¢r¢ approved by the Board of Thstvs and authorised for issue on S September 2022 and
Si8ned on its behalf by..
Nlrsj M Swift LLB- Tn
Ms M J Liversidg¢- Trustee
Thenot¢s forni p#rtof these financia] sthments
PJg¢ 8
Filey Childcare Ltd
Notes to the Financial Statements for the Year Ended 31 March 2022
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
|Fixtures and fittings|-|25% on reducing balance|
|---|---|---|
|Computer equipment|-|25% on reducing balance|
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **2. DONATIONS AND LEGACIES**
## **3.**
|**DONATIONS AND LEGACIES**|||
|---|---|---|
||31.3.22|31.3.21|
||£|£|
|Donations and gifts|4,891|2,870|
|**INVESTMENT INCOME**|||
|Deposit account interest|31.3.22
£
65|31.3.21
£
105|
||||
continued...
Page 9
Filey Childcare Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
## **4. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||31.3.22|31.3.21|
|---|---|---|
||£|£|
|Depreciation - owned assets|1,890|2,322|
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **6. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|Administration|31.3.22
31.3.21
1
4|
|---|---|
|Catering|1
1|
|Childcare|26
21|
||28
26|
Key management personnel were deemed to be K Wood with a total salary in the year of £18,437, H Scoles with £12,304 and C Simmonds with £9,217 for the period she was key management..
There were no employees with emoluments in excess of £60,000.
## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2,870
**Charitable activities**
Activities undertaken directly
460,112
Investment income
105
**Total**
463,087
**EXPENDITURE ON**
**Charitable activities**
Activities undertaken directly
479,467
**NET INCOME/(EXPENDITURE)**
(16,380)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
168,697|Restricted
funds
£
-
-
-
-
-
-
-|Total
funds
£
2,870
460,112
105
463,087
479,467
(16,380)
168,697|
|---|---|---|
continued...
Page 10
Filey Childcare Ltd
## Notes to the Financial Statements - continued for the Year Ended 31 March 2022
|**7.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|||
|---|---|---|---|---|---|
|||Unrestricted|Restricted||Total|
|||fund|funds||funds|
|||£|£||£|
||**TOTAL FUNDS CARRIED FORWARD**|152,317||-|152,317|
|**8.**|**TANGIBLE FIXED ASSETS**|||||
||**COST**|Fixtures
and
fittings
£|Computer
equipment
£||Totals
£|
||At 1 April 2021|34,060|12,242||46,302|
||Additions|600|-||600|
||At 31 March 2022|34,660|12,242||46,902|
||**DEPRECIATION**|||||
||At 1 April 2021|30,520|8,835||39,355|
||Charge for year|1,039|851||1,890|
||At 31 March 2022|31,559|9,686||41,245|
||**NET BOOK VALUE**|||||
||At 31 March 2022|3,101|2,556||5,657|
||At 31 March 2021|3,540|3,407||6,947|
|**9.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||
||Trade debtors||31.3.22
£
9,486||31.3.21
£
10,963|
||Prepayments||12,202||1,414|
||||21,688||12,377|
|||||||
continued...
Page 11
Filey Childcare Ltd
## Notes to the Financial Statements - continued for the Year Ended 31 March 2022
|**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
Accrued expenses
**11.**
**LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
**12.**
**MOVEMENT IN FUNDS**
At 1.4.21
£
**Unrestricted funds**
General fund
152,317
**TOTAL FUNDS**
152,317
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
454,574
**Restricted funds**
Tesco Bags for Help
1,000
**TOTAL FUNDS**
455,574
**Comparatives for movement in funds**
At 1.4.20
£
**Unrestricted funds**
General fund
168,697
**TOTAL FUNDS**
168,697|31.3.22
31.3.21
£
£
2,441
5,665
18,198
12,313
3,198
3,571
23,837
21,549
31.3.22
31.3.21
£
£
-
15,980
Net
movement
At
in funds
31.3.22
£
£
(17,015)
135,302
(17,015)
135,302
Resources
Movement
expended
in funds
£
£
(471,589)
(17,015)
(1,000)
-
(472,589)
(17,015)
Net
movement
At
in funds
31.3.21
£
£
(16,380)
152,317
(16,380)
152,317|
|---|---|
continued...
Page 12
Filey Childcare Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
## **12. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
463,087
463,087|Resources
Movement
expended
in funds
£
£
(479,467)
(16,380)
(479,467)
(16,380)|
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.4.20
£
168,697
168,697|Net
movement
in funds
£
(33,395)
(33,395)|At
31.3.22
£
135,302
135,302|
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Tesco Bags for Help
**TOTAL FUNDS**|Incoming
resources
£
917,661
1,000
918,661|Resources
Movement
expended
in funds
£
£
(951,056)
(33,395)
(1,000)
-
(952,056)
(33,395)|
|---|---|---|
## **13. RELATED PARTY DISCLOSURES**
A trustee, Mrs J M Swift LLB is a director of the legal firm used by the charity. Swift HR & Legal Ltd was paid £10,710 during the year for legal and HR services. There were no outstanding balances at the year end date.
Page 13
Filey Childcare Ltd
## Detailed Statement of Financial Activities for the Year Ended 31 March 2022
|Detailed Statement of Financial Activities
for the Year Ended 31 March 2022|||
|---|---|---|
||31.3.22|31.3.21|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations and gifts|4,891|2,870|
|**Investment income**|||
|Deposit account interest|65|105|
|**Charitable activities**|||
|Other funding - NYCC/other|189,474|229,316|
|Grants|1,344|5,440|
|Nursery income (including Clippers out of|||
|school)|257,345|166,823|
|Local authority grant|-|10,000|
|Job retention scheme grants|2,455|48,533|
||450,618|460,112|
|**Total incoming resources**|455,574|463,087|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Wages|344,824|354,417|
|Social security|15,539|5,142|
|Pensions|5,628|5,415|
|Nursery purchases|29,782|31,674|
|Rent|16,544|15,000|
|Insurance|3,075|2,612|
|Telephone|2,561|2,487|
|Postage and stationery|2,691|2,962|
|Advertising|2,993|5,218|
|Repairs and renewals|2,279|2,824|
|Computer equipment|83|1,438|
|Staff uniforms|1,371|600|
|Cleaning|6,851|15,691|
|Storage|1,566|-|
|Donations|3,372|-|
|Sundry expenses|256|1,808|
|Training costs|2,090|2,826|
|Subscriptions|4,796|1,952|
|Travel and trips|1,724|496|
|Leasing charges|983|-|
|Fixtures and fittings|1,039|1,184|
|Computer equipment|852|1,138|
||450,899|454,884|
## **Support costs**
This page does not form part of the statutory financial statements
Page 14
Filey Childcare Ltd
## Detailed Statement of Financial Activities for the Year Ended 31 March 2022
|Detailed Statement of Financial Activities
for the Year Ended 31 March 2022|||
|---|---|---|
||31.3.22|31.3.21|
||£|£|
|**Support costs**|||
|**Other 3**|||
|Statutory interest paid|-|9|
|**Governance costs**|||
|Accountancy fees|8,326|8,137|
|Legal fees|11,682|13,901|
|Bank charges|1,682|2,536|
||21,690|24,574|
|Total resources expended|472,589|479,467|
|**Net expenditure**|(17,015)|(16,380)|
||||
This page does not form part of the statutory financial statements
Page 15