The 2020-2021 year continued to be a challenging one, with the Covid-19 pandemic remaining rife throughout the country, and restrictions continuing which prevented mixing between children’s age groups, and staff and parents.
After re-opening following the first lockdown in August 2020, children remained in bubbles with their respective age groups, as parents were still unable to enter the building. Children were still being dropped off and collected from staff at the setting’s front door.
Despite a further national lockdown after Christmas 2020, guidance for Early Years settings ensured that Smart Kids Childcare remained open to all children. However, extra curricular activities such as drama and swimming, and external visits were unable to take place.
Throughout this time, with parents unable to enter the setting, Smart Kids Childcare continued to regularly communicate with parents, informing them of what the respective age groups have been focusing on throughout the months via digital newsletters. This included themes such as Halloween, and ‘Winter Wonderland’ at Christmas.
The Pre-School children marked Remembrance Day by taking part in a sponsored walk, raising £190.00 for The Royal British Legion.
During this year, Smart Kids Childcare once again maintained its strict standards by retaining its fivestar Food Hygiene rating from Preston City Council’s Environmental Health department.
The key achievement during the year was Smart Kids Childcare’s successful completion of the accredited ‘Millie’s Mark’ award. This is awarded to childcare settings where all staff members who work with children are qualified in Paediatric First Aid and who have well-deployed first aid processes.
Having reached the accredited status of being a ‘Sun Safe’ setting in 2019, Smart Kids Childcare completed its annual renewal programme alongside children in order to develop their knowledge further.
Smart Kids Childcare was able to access the national government’s Coronavirus Job Retention Scheme to the value of £2891.00 to help and support the charity retain staff during the Covid-19 pandemic, before the scheme was ended in September 2021.
Smart Kids Childcare continued to operate throughout to year end, albeit still without parents entering the setting.
REGISTERED COMPANY NUMBER: 06873377 (England and Wales) REGISTERED CHARITY NUMBER: 1131945
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
SMART KIDS CHILDCARE
(A company Limited by Guarantee)
FOSTER & CO LTD CHARTERED ACCOUNTANTS PRESTON
SMART KIDS CHILDCARE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner’s Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 to 5 |
| Notes to the Financial Statements | 6 to 14 |
| Detailed Statement of Financial Activities | 15 to 16 |
SMART KIDS CHILDCARE
REPORT OF THE TRUSTEES 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 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 2015).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The charity is controlled by its government document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies House Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company Number
06873377 (England and Wales)
Registered Office
Bhailok Square Fulwood Preston Lancashire PR2 8DY
Trustees
Mr R J Hayes Business & Communications Manager Mrs L Hayes Nursery Manager Mrs S Valli Community Support Worker
Independent Examiner
Foster & Co Limited Unit 16 Eastway Business Village Olivers Place Fulwood Preston Lancashire PR2 9WT
Approved by order of the board of trustees on 25 May 2022 and signed on its behalf by:-
…………………………………… Mrs L Hayes – Trustee
Page 1
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SMART KIDS CHILDCARE
Independent examiner’s report to the trustees of Smart Kids Childcare (‘the Company’) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2021.
Responsibilities and basis of report
As the charity’s trustees of the Company (who are also the 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 for this year 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
The company’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the ICAEW.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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.
Miss JK Foster ACA Foster & Co Limited Unit 16 Eastway Business Village Olivers Place Fulwood, Preston Lancashire PR2 9WT
25 May 2022
Page 2
SMART KIDS CHILDCARE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable Activities Expenses Total NET INCOME/EXPENDITURE RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 Unrestricted Fund Notes £ 2 397,904 3 - _ 397,904 _ 4 297,183 5 52,579 _ 349,762 _ 48,142 518,197 _ 566,339 _ |
2020 Total Fund £ 433,490 - _ 433,490 _ 303,323 62,003 _ 365,326 _ 68,164 450,033 _ 518,197 _ |
2020 Total Fund |
|---|---|---|---|
The notes form part of these financial statements
Page 3
SMART KIDS CHILDCARE
BALANCE SHEET AS AT 31 AUGUST 2021
| FIXED ASSETS Tangible assets CURRENT ASSETS Debtors Cash at bank CREDITORS Amounts falling due within one year NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT |
2021 Unrestricted Notes Fund £ 11 94,216 12 18,986 482,986 _ 501,972 13 (29,849) _ 472,123 _ 566,339 14 - _ 566,339 _ 16 566,339 _ 566,339 __ |
2020 Total Funds £ 105,151 16,031 514,376 _ 530,407 (113,905) _ 416,502 _ 521,653 (3,456) _ 518,197 _ 518,197 _ 518,197 __ |
|---|---|---|
| LIABILITIES CREDITORS Amounts falling due after more than one year NET ASSETS FUNDS Unrestricted funds TOTAL FUNDS |
The notes form part of these financial statements
Page 4
SMART KIDS CHILDCARE
BALANCE SHEET – CONTINUED AT 31 AUGUST 2021
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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 Section 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.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.
The financial statements were approved by the Board of Trustees on 25 May 2022 and were signed on its behalf by:
…………………………….
Mrs L Hayes - Trustee
……………………………. Mrs S Valli – Trustee
…………………………… Mr R J Hayes - Trustee
The notes form part of these financial statements
Page 5
SMART KIDS CHILDCARE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
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 2015)’, 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.
The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’:
- the requirements of Section 7 Statement of Cash Flows.
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.
Freehold property - 10% on reducing balance Plant and machinery - at variable rates on reducing balance Fixtures and fittings - 25% on cost Motor vehicles - 25% on cost Computer Equipment - 50% on reducing balance
Page 6
SMART KIDS CHILDCARE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements - continued
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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 Fees received Funding JRS Funding Grants received, included in the above, are as follows: Other grants |
2021 £ 281,877 113,136 2,891 _ 397,904 _ 2021 £ 116,027 __ |
2020 £ 267,231 112,306 53,953 _ 433,490 _ |
2020 |
|---|---|---|---|
| 2020 £ 166,259 __ |
2020 |
Page 7
SMART KIDS CHILDCARE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
| 3. 4. |
INVESTMENT INCOME Deposit account interest RAISING FUNDS Raising donations and legacies Rates and utilities Insurance Rent of loan store Other trading activities Trustees’ remuneration etc Staff costs Food and drink Resources and activities Staff and children’s uniforms Aggregate amounts |
_ | ___ |
|---|---|---|---|
Page 8
SMART KIDS CHILDCARE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
| 5. 6. 7. 8. 9. |
Direct Support Costs CHARITABLE ACTIVITIES COSTS Costs (See note 6) Totals £ £ £ Expenses 31,835 20,744 52,579 _ _ _ SUPPORT COSTS Governance Finance Costs Totals £ £ £ Expenses 32 20,712 20,744 _ _ _ NET INCOME/(EXPENDITURE) 2021 2020 Net income/(expenditure) is stated £ £ after charging: Depreciation – owned assets 15,607 19,033 _ _ TRUSTEES’REMUNERATION AND BENEFITS 2021 2020 £ £ Trustees’ salaries 84,500 84,500 _ ___ Trustees’benefits Trustees received reimbursement for expenses incurred during the year ended 31 August 2021. No benefit arose from the reimbursement. STAFF COSTS 2021 2020 £ £ Wages and salaries 212,221 216,864 Social security costs 16,252 16,608 Other pension costs 9,181 4,753 _ _ 237,654 238,225 _ _ |
_ | Totals £ 52,579 __ |
Totals | Totals |
|---|---|---|---|---|---|
| Totals £ 20,744 __ |
Totals | ||||
| 2020 £ 19,033 __ |
2020 | ||||
| 2020 £ 84,500 __ |
2020 |
Page 9
SMART KIDS CHILDCARE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
9. STAFF COSTS (CONTINUED)
The average monthly number of employees during the year was as follows:
| 10. | Employees ____ No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Income and Endowments From Donations and legacies Investment income Total Expenditure On Raising funds Charitable activities Expenses Total Net Income/Expenditure RECONCILIATION OF FUNDS Total funds brought forward Total Funds Carried Forward |
____ | 2021 2020 £ £ 13 14 _ _ Unrestricted Fund £ 397,904 - __ 397,904 __ 297,183 52,579 __ 349,762 __ 518,197 __ 566,339 ______ |
____ | 2020 |
|---|---|---|---|---|---|
| £ 14 ____ |
Page 10
SMART KIDS CHILDCARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
| 11. | TANGIBLE FIXED ASSETS Cost At 1 September 2020 Additions At 31 August 2021 Depreciation At 1 September 2020 Charge for year At 31 August 2021 Net Book Value At 31 August 2021 At 31 August 2020 Cost At 1 September 2020 and At 31 August 2021 Additions At 31 August 2021 Depreciation At 1 September 2020 Charge for year At 31 August 2021 Net Book Value At 31 August 2021 At 31 August 2020 |
Freehold Property £ 213,484 - _ 213,484 _ 128,098 8,539 _ 136,637 _ 76,847 _ 85,386 _ |
Plant and Fixtures and Machinery Fittings £ £ 36,070 22,803 - 3,823 _ _ 36,070 26,626 _ _ 19,838 20,254 1,948 3,712 _ _ 21,786 23,966 _ _ 14,284 2,660 _ _ 16,232 2,549 _ _ Computer Equipment Totals £ £ 6,908 279,265 849 4,672 _ _ 7,757 283,937 _ _ 5,924 174,114 1,408 15,607 _ _ 7,332 189,721 _ _ 425 94,216 _ _ 984 105,151 _ _ |
Plant and Fixtures and Machinery Fittings £ £ 36,070 22,803 - 3,823 _ _ 36,070 26,626 _ _ 19,838 20,254 1,948 3,712 _ _ 21,786 23,966 _ _ 14,284 2,660 _ _ 16,232 2,549 _ _ Computer Equipment Totals £ £ 6,908 279,265 849 4,672 _ _ 7,757 283,937 _ _ 5,924 174,114 1,408 15,607 _ _ 7,332 189,721 _ _ 425 94,216 _ _ 984 105,151 _ _ |
Plant and Fixtures and Machinery Fittings £ £ 36,070 22,803 - 3,823 _ _ 36,070 26,626 _ _ 19,838 20,254 1,948 3,712 _ _ 21,786 23,966 _ _ 14,284 2,660 _ _ 16,232 2,549 _ _ Computer Equipment Totals £ £ 6,908 279,265 849 4,672 _ _ 7,757 283,937 _ _ 5,924 174,114 1,408 15,607 _ _ 7,332 189,721 _ _ 425 94,216 _ _ 984 105,151 _ _ |
Plant and Fixtures and Machinery Fittings £ £ 36,070 22,803 - 3,823 _ _ 36,070 26,626 _ _ 19,838 20,254 1,948 3,712 _ _ 21,786 23,966 _ _ 14,284 2,660 _ _ 16,232 2,549 _ _ Computer Equipment Totals £ £ 6,908 279,265 849 4,672 _ _ 7,757 283,937 _ _ 5,924 174,114 1,408 15,607 _ _ 7,332 189,721 _ _ 425 94,216 _ _ 984 105,151 _ _ |
|
|---|---|---|---|---|---|---|---|
£ 22,803 3,823 __ 26,626 ____ |
|||||||
| 20,254 3,712 __ 23,966 ____ |
|||||||
| _ | __ | _ | 2,660 _____ |
||||
| _ | __ | _ | 2,549 _____ |
||||
| Totals £ 279,265 4,672 _ 283,937 _ |
Totals | ||||||
| 174,114 15,607 _ 189,721 _ |
|||||||
| 94,216 __ |
|||||||
| 105,151 __ |
Page 11
SMART KIDS CHILDCARE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
| 12. 13. 14. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments Other debtors CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Loans (see note 15) Trade creditors Credit card Social security and other taxes Other creditors Net wages Nest pension payments Accrued expenses Income Received in Advance CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 15) |
2021 £ 6,813 12,173 __ 18,986 _ 2021 £ - 922 725 4,367 7,109 - 817 13,535 2,374 29,849 2021 £ - ___ |
_ | 2020 £ 6,813 9,218 _ 16,031 _ |
2020 | |
|---|---|---|---|---|---|---|
| 2020 £ 23,000 10,719 564 3,616 37,109 159 754 13,635 24,349 _ 113,905 _ |
2020 | |||||
| __ | 2020 £ 3,456 _ |
2020 |
Page 12
SMART KIDS CHILDCARE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
| 15. 16. |
LOANS 2021 2020 An analysis of the maturity of loans is given below: £ £ Amounts falling due in less than five years: Repayable by instalments: Loan number 1 - 6,295 Loan number 2 - 20,161 _ _ - 26,456 _ _ Net Movement MOVEMENT IN FUNDS At 1/9/20 In Funds At 31/8/21 £ £ £ Unrestricted Funds General fund 518,197 48,142 566,339 _ _ _ Total Funds 518,197 48,142 566,339 _ _ _ Net movement in funds, included in the above are as follows: Incoming Resources Movement in Resources Expended Funds £ £ £ Unrestricted Funds General fund 397,904 349,762 48,142 _ _ _ Total Funds 397,904 349,762 48,142 _ _ _ |
2020 £ 6,295 20,161 _ 26,456 _ At 31/8/21 |
2020 £ 6,295 20,161 _ 26,456 _ |
2020 |
|---|---|---|---|---|
| £ 566,339 _ 566,339 _ |
Page 13
SMART KIDS CHILDCARE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
16. MOVEMENT IN FUNDS – continued
Comparatives for movement in funds
| Comparatives for movement in funds | |||
|---|---|---|---|
| Unrestricted Funds General fund Total Funds Comparative net movement in funds, included in the above are as follows: Unrestricted Funds General fund Total Funds |
Net Movement At 1/9/19 in funds At 31/8/20 £ £ £ 450,033 68,164 518,197 _ _ _ 450,033 68,164 518,197 _ _ _ Incoming Resources Movement in Resources Expended Funds £ £ £ 433,490 365,326 68,164 _ _ _ 433,490 365,326 68,164 _ _ _ |
At 31/8/20 | |
| £ 518,197 _ 518,197 _ |
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2021.
Page 14
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SMART KIDS CHILDCARE
Independent examiner’s report to the trustees of Smart Kids Childcare (‘the Company’) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2021.
Responsibilities and basis of report
As the charity’s trustees of the Company (who are also the 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 for this year 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
The company’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the ICAEW.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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.
Miss JK Foster ACA Foster & Co Limited Unit 16 Eastway Business Village Olivers Place Fulwood, Preston Lancashire PR2 9WT
25 May 2022
Page 2