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2022-08-31-accounts

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 2022

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 2022

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 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 August 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 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 24 May 2023 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 2022.

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:

  1. accounting records were not kept in accordance with 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 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

24 May 2023

Page 2

SMART KIDS CHILDCARE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022

INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable Activities
Expenses
Total
NET EXPENDITURE/INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2022
Unrestricted
Fund
Notes
£
2
369,738
3
-
_
369,738
_
4
334,537
5
44,887
_
379,424
_
(9,686)
566,339
_
556,653
_		 2021
Total
Fund
£
397,904
-
_
397,904
_
297,183
52,579
_
349,762
_
48,142
518,197
_
566,339
_

The notes form part of these financial statements

Page 3

SMART KIDS CHILDCARE

BALANCE SHEET AS AT 31 AUGUST 2022

FIXED ASSETS
Tangible assets
CURRENT ASSETS
Debtors
Cash at bank
CREDITORS
Amounts falling due within
one year
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT		 2022
Unrestricted
Notes
Fund
£
11
83,896
12
19,184
465,282
_
484,466
13
(11,709)
_
472,757
_

556,653
_
14
556,653
_
556,653
_		 2021
Total
Funds
£
94,216
18,986
482,986
_
501,972
(29,849)
_
472,123
_
566,339
_
566,339
_
566,339
_
LIABILITIES
FUNDS
Unrestricted funds
TOTAL FUNDS

The notes form part of these financial statements

Page 4

SMART KIDS CHILDCARE

BALANCE SHEET – CONTINUED AT 31 AUGUST 2022

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

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 24 May 2023 and were signed on its behalf by:

…………………………….

Mrs L 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 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 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’:

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 2022

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		 2022
£
267,991
101,747
-
_
369,738
_		 2021
£
281,877
113,136
2,891
_
397,904
_

Grants received, included in the above, are as follows:

Other grants 2022
£
101,747
__		 2021
£
116,027
__

Page 7

SMART KIDS CHILDCARE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

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 2022

5.
6.
7.
8.
9.		 Direct Support Costs
CHARITABLE ACTIVITIES COSTS
Costs
(See note 6)
Totals
£
£
£
Expenses
28,709
16,178
44,887
_
_
_
SUPPORT COSTS
Governance
Finance
Costs
Totals
£
£
£
Expenses
73
16,105
16,178
_
_
_
NET (EXPENDITURE)/INCOME
2022
2021
Net (expenditure)/income is stated
£
£
after charging:
Depreciation – owned assets
10,931
15,607
_
_
TRUSTEES’REMUNERATION AND BENEFITS
2022
2021
£
£
Trustees’ salaries
96,123
84,500
_
___
Trustees’benefits
Trustees received reimbursement for expenses incurred during the year ended 31
August 2022. No benefit arose from the reimbursement.
STAFF COSTS
2022
2021
£
£
Wages and salaries
202,444
212,221
Social security costs
47,514
16,252
Other pension costs
8,125
9,181
_
_
258,083
237,654
_
__

Page 9

SMART KIDS CHILDCARE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

9. STAFF COSTS (CONTINUED)

The average monthly number of employees during the year was as follows:

Employees ____ 2022
£
13
____		 ____ 2021
£
13
____

No employees received emoluments in excess of £60,000.

10. COMPARATIVES FOR THE STATEMENT OF
Unrestricted
FINANCIAL ACTIVITIES
Fund
£
Income and Endowments From
Donations and legacies
369,738
Investment income
-
_
Total
369,738
_
Expenditure On
Raising funds
341,350
Charitable activities
Expenses
44,887
_
Total
379,424
_
Net Expenditure/Income
(9,686)
RECONCILIATION OF FUNDS
Total funds brought forward
566,339
_
Total Funds Carried Forward
556,653
_

Page 10

SMART KIDS CHILDCARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

11. TANGIBLE FIXED ASSETS
Cost
At 1 September 2021
Additions
At 31 August 2022
Depreciation
At 1 September 2021
Charge for year
At 31 August 2022
Net Book Value
At 31 August 2022
At 31 August 2021
Cost
At 1 September 2021 and At 31 August 2022
Additions
At 31 August 2022
Depreciation
At 1 September 2021
Charge for year
At 31 August 2022
Net Book Value
At 31 August 2022
At 31 August 2021
Freehold
Property
£
213,484
-
_
213,484
_
136,637
7,685
_
144,322
_
69,162
_
76,847
_		 Plant and
Fixtures and
Machinery
Fittings
£
£
36,070
26,626
-
611
_
_
36,070
27,237
_
_
21,786
23,966
1,714
1,108
_
_
23,500
25,074
_
_
12,570
2,163
_
_
14,284
2,660
_
_
Computer
Equipment
Totals
£
£
7,757
283,937
-
611
_
_
7,757
284,548
_
_
7,332
189,721
424
10,931
_
_
7,756
200,652
_
_
1
83,896
_
_
425
94,216
_
_		 Plant and
Fixtures and
Machinery
Fittings
£
£
36,070
26,626
-
611
_
_
36,070
27,237
_
_
21,786
23,966
1,714
1,108
_
_
23,500
25,074
_
_
12,570
2,163
_
_
14,284
2,660
_
_
Computer
Equipment
Totals
£
£
7,757
283,937
-
611
_
_
7,757
284,548
_
_
7,332
189,721
424
10,931
_
_
7,756
200,652
_
_
1
83,896
_
_
425
94,216
_
_		 Plant and
Fixtures and
Machinery
Fittings
£
£
36,070
26,626
-
611
_
_
36,070
27,237
_
_
21,786
23,966
1,714
1,108
_
_
23,500
25,074
_
_
12,570
2,163
_
_
14,284
2,660
_
_
Computer
Equipment
Totals
£
£
7,757
283,937
-
611
_
_
7,757
284,548
_
_
7,332
189,721
424
10,931
_
_
7,756
200,652
_
_
1
83,896
_
_
425
94,216
_
_		 Plant and
Fixtures and
Machinery
Fittings
£
£
36,070
26,626
-
611
_
_
36,070
27,237
_
_
21,786
23,966
1,714
1,108
_
_
23,500
25,074
_
_
12,570
2,163
_
_
14,284
2,660
_
_
Computer
Equipment
Totals
£
£
7,757
283,937
-
611
_
_
7,757
284,548
_
_
7,332
189,721
424
10,931
_
_
7,756
200,652
_
_
1
83,896
_
_
425
94,216
_
_

£
26,626
611
__
27,237
____





23,966
1,108
__
25,074
____

_
__
_
2,163
_____

_
__
_
2,660
_____

Totals
£
283,937
611
_
284,548
_
Totals

189,721
10,931
_
200,652
_

83,896
__

94,216
__

Page 11

SMART KIDS CHILDCARE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

12.
13.		 DEBTORS: AMOUNTS FALLING DUE WITHIN
ONE YEAR
Prepayments
Other debtors
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR
Trade creditors
Credit card
Social security and other taxes
Other creditors
Nest pension payments
Accrued expenses
Income Received in Advance		 2022
£
13,625
5,559
_
19,184
_
2022
£
-
432
-
-
801
10,476
-
_
11,709
_		 2021
£
6,813
12,173
_
18,986
_
2021
£
922
725
4,367
7,109
817
13,535
2,374
_
29,849
__

Page 12

SMART KIDS CHILDCARE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

14. MOVEMENT IN FUNDS
Unrestricted Funds
General fund
Total Funds
Net movement in funds, included in the
above are as follows:
Unrestricted Funds
General fund
Total 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 1/9/21
In Funds
At 31/8/22
£
£
£
566,339
(9,686)
556,653
_
_
_
566,339
(9,686)
556,653
_
_
_
Incoming
Resources Movement in
Resources
Expended
Funds
£
£
£
369,738
379,424
(9,686)
_
_
_
369,738
379,424
(9,686)
_
_
_
Net Movement
At 1/9/20
in funds
At 31/8/21
£
£
£
518,197
48,142
566,339
_
_
_
518,197
48,142
566,339
_
_
_
Incoming
Resources Movement in
Resources
Expended
Funds
£
£
£
397,904
349,762
48,142
_
_
_
397,904
349,762
48,142
_
_
_

Page 13

SMART KIDS CHILDCARE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2022.

Page 14

SMART KIDS CHILDCARE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 AUGUST 2022

2022 2021
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Fees received 267,991 281,877
Funding 101,747 116,027
__ __
369,738 397,904
Investment income
Deposit account interest - -
__ __
Total incoming resources 369,738 397,904
EXPENDITURE
Raising donations and legacies
Rates and utilities 15,297 7,740
Insurance 11,829 10,927
Rent of loan store 27,250 27,250
__ __
54,376 45,917
Other trading activities
Trustees’ salaries 96,123 84,500
Salaries, wages and NIC 123,304 112,062
Temporary staff 30,531 31,911
Pensions 8,125 9,181
Food and drink 13,301 10,856
Resources and activities 7,225 1,040
Staff and children’s uniforms 1,552 1,716
__ __
280,161 251,266

This page does not form part of the statutory financial statements

Page 15

SMART KIDS CHILDCARE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022

Charitable activities
Repairs and maintenance
Telephone
Postage and stationery
Advertising
Sundry expenses
Motor and travelling expenses
Trade subscriptions
Registration and CRB fees
Computer running costs
Cleaning and waste disposal
Staff training
Bank loan interest
Support Costs
Finance
Bank and credit card charges
Governance costs
Accountancy and payroll fees
Consultancy fees
Depreciation of tangible fixed assets
Total resources expended
Net expenditure/income		 2022
£
5,187
1,222
2,474
6,119
1,252
6,019
105
919
2,275
1,913
1,224
-
_
28,709
73
899
4,275
10,931
_
16,105
_
379,424
_
(9,686)
__		 2021
£
2,272
1,802
1,226
4,821
1,254
12,663
1,741
220
2,259
1,866
912
799
_
31,835
32
2,297
2,808
15,607
_
20,712
_
349,762
_
48,142
__

The notes form part of these financial statements

Page 16