Gosforth Nursery Ltd (A company limited by guarantee) Trustees, report and flnanclal statements for the year ended 31 August 2024 Charlty number: 1133546 Company number: 06952333 robinson+co (Gosforth) Limited Chartered Accountants GOSFORTH
Gosforth Nursery Ltd (A company limited by guarantee) Contents Pa8e Le8al and admlnistrative Informatlon Trustees, report Independent examiners, report Statement of flnanclal actlvltles Balance sheet Cash flow statement Notes to the flnanclal statements 10-20
Gosforth Nursery Ltd (A company limited by guarantee) Legal and administrative Informatlon Charlty number 1133546 Company reglstratlon number 06952333 Buslness address Gosforth Nursery Ltd Gosforth C of E School Wasdale Road GOSFORTH CA20 IAZ Reglstered offlce The Old For8e Beck Place GOSFORTH CA20 IAT Trustees D N Brooks T A Morrls L J Rlsa8er W1150n Pontlng P M l E1115 GOJI ECVBates Appolnted 23 October 2023 Re5Igned 01 August 2024 Accountants roblnson+co IGosforthl Llmlted The Old Forge Beck Place GOSFORTH CA20 IAT Bankers HSBC Bank plc 3 Pow Street WORKINGTON CA14 3AT Page I
Gosforth Nursery Ltd (A company limited by guarantee) Report of the trustees {incorporating the directors, report) for the year ended 31 August 2024 The trustees present their report and the finan¢lal statements for the year ended 31 August 2024. The trustees, who are also dlrectors of G05forth Nursery Ltd for the purposes of company law and who served durlng the year and up to the date of thls report are set out on page l. Structure* governance and management Governlng document Gosforth Nursery Llmited Is constltuted as a company Ilmlted by guarantee and Is a reglstered charlty, The charltable company is governed by its Memorandum and Articles of Assoclatlon dated 3 July 2009. Doy to doy management The Nursery Is managed by Mrs Gllllan Jackson. Trustees The alm Is to malntaln a trustee board wlth a range of skllls whlch will be useful to the organlsatlon. New trustees are taken through an Inductlon procedure. Key managementper50nnel remunerutlon The Trustees conslder the Board of Trustees and the Nursery Manager as comprlsln8 the key management personnel of the charlty In charge of dlrectlng and controlllng the charlty and runnlng and operatln8 the charlty on a day to dav bas15, All Trustees glve of thelr time freely and no trustee remuneratlon was pald In the year. The pay of the charlty's senlor staff15 revlewed annually and assessed to ensure that the remuneratlon Set Is falr and not out of Ilne wlth that generally pald for slmllar roles. Objectlves and actlvltles The Charltable Oblects are.. To enhance the development and educatlon of chlldren prlmarlly under statutory school age by encouraglng parents to understand and provlde for the needs of thelr chlldren through communtiy groups and byi l. Offerln8 approprlate play, educatlon and care facllltles and tralnln8 courses, together wlth the rl8ht of parents to take responslblllty and to become Involved In the actlvltles of such group5, ensurln8 that such groups offer opportunitles for all chlldren whatever thelr race, culture, rellglon, means or abllltvi 2. Encouraglng the study of the needs of such children and thelr families and promotlng publSc Interest In and recognltlon of such needs. 3. Instl8atln8 and adherlng to and furthering the alms and oblects of the Pre-school Learnlng Alliance. We aim to'.- l. Provide high quallty care and educatlon for chlldren prlmarlly below statutory school age,. 2, Work In partnership with parents to help children learn and develop,. 3. Add to the life and well being of our local community; and 4. Offer chlldren and their parents a service which promotes equallty and value5 diverslty. Public Benefit The trustees have referred to the guidance contained in the Charity Commission's general guldance on public benefit when reviewing the charlty's alrns and objectives and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. Pa8e Z
Gosforth Nursery Ltd (A company Ilmited by guarantee) Report of the trustee51Incorporatlng the dlrectors, report) for the year ended 31 August 2024 Achlevements and performance In spite of another challenging year which saw a significant Increase in the natlonal mlnlmum wage and hlgher than avera8e running Costs, the nursery was able to continue to deliver the hlgh level of servlce to whlch parents using our faclllty have become accustomed. The nursery staff, tO8ether wlth the management, have contlnued to work with the asslduous splrit which they have become known for over the Ilfetime of the nursery. There were not any slgnlflcant changes withln the team. This contlnulty beneflts the chlldren wlthln our settlng as well as the staff, The low levels of attrltion at Gosforth Nursery are testament to the strong sense of'team,. In Aprll the staff recelved a pay rlse whlch, althou8h above the natlonal avera8e, wasn't proportlonal to prevlous years. The percenta8e was reflectlve of the Nursery's flnances at that moment In tlme. Slnce April changes have been Introduced whlch have helped boost the nurserles overall flnanclal performance. These Include a block booklng 5y5tem whlch allowed a more efflclent & streamllned approach to stafflng, Aprll also saw an Increase In fees and charges. Thls was requlred to ensure we contlnued to cover the Inevltable rlse and cost5 encountered In the day to day runnlng of the nursery. These changes resulted In an overall financlal galn from Aprll untll the perlod endlng August 2024. Achlevements and performance Icontlnued) Flnanclal revlew At the balance sheet date the charlty held £163,32312023', £177,527) on unrestrlcted fund5 and £190,72612023.' £204,3501 on restrlcted funds, a 5atlsfactory posltlon. Reserves G05forth Nursery Management Commlttee 5eek5 to hold 3 months operatlng Costs In reserves as part of thelr contlngency plannlng process, At the date of thls report thls reserve fund was complete and stood at £50,000. Rlsk monagement The trustees have assessed the malor strategic, buslness and operatlonal rlsks to whlch the organlsation Is exposed. They are satlsfied that systems are In place to mltl8ate the exposure to these risks, Plan5 for future perlods The future of the nursery Is looking promlsln8. In Ilne wlth the planned retlrement of the lon8-StandinB head of the nursery, a change of management arrangements has been proposed. Gosforth School and Gosforth Nursery are considering merging the two setting. Both partie5 are worklng together to determine how best to deliver a service which remalns efficient, offers financial stabllity and continues to deliver hlgh quality education as well as being a 8reat place to work. The Nursery Trustee5, School Governors and staff are all entlrely committed to ensurlng a high quality of service provlslon for many years to come. The Nursery Trustees are working to ensure a smooth transition to the proposed new management arrangements and will continue to keep staff, parents and carers engaged throughout, Page 3
Gosforth Nursery Ltd (A company limlted by guarantee) Report of the trustees (Incorporating the dlrectors, report) for the year ended 31 August 2024 Statement of trustees, responslbllltles The trustees (who are also directors of Gosforth Nursery Ltd for the purpose of company lawl are responslble for preparing the Trustees, Annual Report and the flnancial Statements In accordance wlth applicable law and United Kingdom Generally Accepted Accountlng Practice. Company law requlre5 the trustees to prepare flnanclal statements for each flnanclal year whlch glve a true and fair vlew of the state of affairs of the charltable company and of the incoming resources and appllcation of resources, Including the Income and expendlture, of the charltable company for that perlod. In preparlng these financlal statements, the trustees are requlred to.. Select sultable accountlng pollcles and then apply them conslstentlvi observe the methods and principle5 In the Charities SORP,. make judgement5 and estlmates that are reasonable and prudent; state whether appllcable UK Accountlng Standards have been followed, subject to any materlal departures d15cIosed and explalned In the flnanclal 5tatements,' and prepare the flnanclal statements on the golng concern basls unless It Is Inapproprlate to presume that the charltable company will contlnue In operation. The trustees are responslble for keeplng proper accountlng records whlch dlsclose wlth reasonable accuracy at anv tlme the flnanclal p051tlon of the charltable company and whlch enable them to ensure that the flnanclal statements comply wlth the Companies Act 2006. They are also responslble for 5afeguardlng the assets of the charltable company and hence for taklng reasonable steps for the preventlon and detectlon of fraud and other Irregularltles. Small company provlslons Thls report has been prepared In accordance wlth the speclal provlslons for small Companles under Part 15 of the Companles Act 2006. On behalf of the board GOJI Dlrector 24)2f Page 4
Gosforth Nursery Ltd (A company limited by guarantee) Independent examiner's report to the trustees on the unaudlted financial Statements of Gosforth Nursery Ltd. I report on the accounts of Gosforth Nursery Ltd for the year ended 31 Au8USt 2024 set out on pages 6 to 20. Respectlve responslbllltles of trustees and independent examlner The charity's trustees (who are also the dlre¢tors of the company for purposes of company lawl are responsible for the preparatlon of the accounts. The trustees consider that an audlt is not required for this year under section 144 of the Charltles Act 2011 Ithe Charitles Act), and that an independent examlnatlon Is needed. It Is my re5pon5ibllity to examine the accounts under section 145 of the Charities Act, to follow the procedure5 lald down In the General Dlrectlons given by the Charlty Commission under sectlon 1451Sllbl of the Act, and to state whether partlcular matters have come to my attentlon. Basls of Independent examlner's statement My examlnatlon was carried out In accordance wlth the General Dlrectlons Blven by the Charlty Commlsslon. An examlnatlon Includes a revlew of the accounting records kept by the charity and a comparlson of the accounts presented wlth those records. It also Includes conslderatlon of any unusual items or d15c105ures in the accounts, and 5eeklng explanatlons frorn you a5 trustees concernln8 any such matters. The procedures undertaken do not provlde all the evldence that would be requlred In an audlt and consequently no oplnlon Is 8lven a5 to whether the accounts present a 'true and falr vlew, and the report Is Ilmlted to those matters set out In the statement below. Independent examlner's statement In connectlon wlth my examlnation, no matter has come to my attentlon,. 111 whlch gives me reasonable cause to belleve that In any material respect the requlrements: to keep proper accountlng records In accordance wlth sectlon 386 of the Companles Act 2006,, and to prepare accounts whlch accord wlth the accountln8 records, comply wlth the accountlng requlrements of sectlon 396 of the Companles Act 2006 and with the methods and prlnclples of the Statement of Recommended Practlce.. Accountlng and Reportlng by Charltles have not been met; or Illl to which, in my opinion, attentlon should be drawn In order to enable a proper understandin8 of the accounts to be reached. Mr J Splres FCA DChA Independent examlner robinson+co IGosforthl Limited The Old Forge Beck Place Gosforth, Seascale CA20 IAT Page 5
Gosforth Nursery Ltd (A company limited by guarantee) Statement of financlal activltles (Incorporatlng the Sncome and expendlture account) For the year ended 31 August 20Z4 Unrestrlrted Restrlcted funds funds 2024 Total 2023 Total Notes Income Income from charltable actlvltle5 Income from other trading actlvltles: Actlvltles for generatlng funds Investment Income 226,691 94,375 321,066 373,264 3,790 783 3,790 783 7,543 378 Total Income 231,264 94,375 325,639 381,185 Expendlture Charltable actlvltles 245,468 107,999 353,467 360,864 Total expendlture 245,468 107,999 353,467 360,864 Net Income/(expendlture) for the year 114,2041 113,6241 127,8281 20,321 Total funds brought forward 177,527 204,350 381,877 361,556 Total funds carrled forward 163,323 190,726 354,049 381,877 The statement of financlal actlvltles Includes all galns and losses In the year and therefore a separate statement of total recognlsed galns and losses has not been prepared. All of the above amounts relate to contlnulng activitles. The notes on pages 10 to 20 form an integral part of these financial statements. Page 6
Gosforth Nursery Ltd (A company Ilmited by guarantee) Balance sheet as at 31 August 2024 2024 2023 Notes Flxed assets Tangible assets Current assets Cash at bank and In hand 12 298,471 317,674 63,629 73,567 63,629 73,567 Credltors: amounts falllng due wlthln one year 13 18,0511 19,3641 Net current assets 55,578 64,203 Net assets 3S4,049 381,877 Funds Restrlcted Income funds Unrestrlcted Income funds 15 190,726 163,323 204,350 177,527 Total funds 354,049 381,877 The Balance Sheet contlnues on the followlng page. The notes on pages 10 to 20 form an integral part of these financial statements. Pa8e 7
Gosforth Nursery Ltd (A company Ilmited by guarantee) Balance sheet (continued) Trustees statements required by the Companles Act 2006 for the year ended 31 August 2024 In approvlng these flnanclal statements as trustees of the company we hereby confirm: lal that for the year stated above the company was entltled to the exemptlon conferred by sectlon 477 of the Companles Act 2006 , Ibl that no notlce has been deposlted at the reglstered offlce of the company pursuant to section 476 of the Companles Act 2006 requestlng that an audit be conducted for the year ended 31 August 2024. Icl that we acknowled8e our responslbllltle5 for., 111 ensurlng that the company keeps proper accountlng records whlch comply wlth sectlon 386 of the Companles Act 2006, and 121 preparlng flnanclal statements whlch glve a true and falr vlew of the state of affalrs of the company a5 at the end of the financial year and of its profit or loss for the year then ended In accordance with the requlrements of sectlons 394 and 395, and whlch otherwlse comply wlth the provlsion5 of the Companles Act relatlng to financlal statements, so far as applicable to the companv. These flnanclal statements are prepared In accordance wlth the speclal provlslons of Part 15 of the Companle5 Act 2006 relatln8 to small companles The flnanclal statements were approved by the board on )1512S and slgned on Its behalf by GOJI Dlrector The note5 on pages 10 to 20 form an integral part of these flnanclal statements. Page 8
Gosforth Nursery Ltd (A company Ilmited by guarantee) Cash flow statement for the year ended 31 August 2024 2024 2023 Notes Net Cash used by operating actlvltles 19 15,7681 46,744 Cash flows from Investlng actlvltles Interest and dividends Purchase of tanglble flxed asset5 783 14,9531 378 115,5411 Net cash provlded by Investlng actlvltles 14,1701 115,1631 Change In cash and cash equlvalents In the year 19,9381 31,581 Cash and cash equlvalents brought forward 73,567 41,986 Cash and cash equlvalent5 Carrled forward 63,629 73,567 The notes on pages 10 to 20 form an Integral part of these flnancial statements. Pa8e 9
Gosforth Nursery Ltd (A company Ilmlted by guarantee) Notes to flnancial statements for the year ended 31 August 2024 Accounting pollcles The principal accounting pollcles adopted, judgements and key sources of estlmation uncertainty In the preparatlon of the financial statements are summarised below. Basls of accountlng The financlal statements are prepared under the historlcal cost convention wlth Items recognlsed at cost or transactlon value unless otherwlse stated In the relevant notelsl to these accounts. The financial statements have been prepared In accordance with the Statement of Recommended Practice, Accountln8 and Reportin8 by Charltie5 preparlng thelr accounts in accordance wlth the Financial Reportlng Standard appllcable In the UK and Republic of Ireland IFRS 1021 Issued on 16 July 2014 and the Flnancial Reportlng Standard applicable In the UK and Republlc of Ireland IFRS 1021 and the Companles Act 2006. The company constltutes a publlc beneflt entlty as deflned by FR5 102. The trustees conslder that there are no materlal uncertalntles about the charlty's ablllty to contlnue a5 a 8oln8 concern. The presentatlonal currency Is U K Sterlln8 pounds (£1. Income All income Is Included In the statement of flnanclal actlvltles once the charlty has entltlement to the Income, It Is probable that the Intome wlll be recelved and the amount of Income recelvable can be Measured reliably. The followlng speclflc pollcles are applled to partlcular categorles of Income,. Grants, Includlng Brants for the purchase of flxed assets, are reco8n15ed In full In the statement of flnanclal actlvities In the year In whlch they are recelvable. Income from Investments Is Included In the year In whlch It Is recelvable. 1.3. Expendlture Expendlture Is reco8n15ed on an accrual basls as a Ilablllty Is Incurred. Expendlture Includes any VAT which cannot be fully recovered, and Is reported as part of the expendlture to which It relates. Costs of ralslng funds comprlse the costs assoclated wlth attracting voluntary income and the costs of tradlng for fundra15ing purposes. Charitable expenditure comprises those costs incurred by the charity In the delivery of Its actlvltles and servlces for its beneflclarles. It include5 both costs that can be allocated dlrectly to such activltles and those costs of an Indlrect nature necessary to support them. Support costs are those costs incurred dlrectly in Support of expenditure on the objects of the charlty and Include project management 3nd governance costs. Page 10
Gosforth Nursery Ltd (A company limited by guarantee) Note5 to flnancial statements for the year ended 31 August 2024 1.4. Tanglble flxed assets and depreclatlon Tangible fixed assets are stated at cost less accumulated depreclation. Depreclatlon Is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows.. Leasehold propertles Flxtures, fittings and equipment Straight Ilne over the Ilfe of the lease 25% stralght Ilne Flnanclal Instruments A flnanclal asset or a flnanclal Ilablllty Is reco8nlsed only when the entlty becomes a party to the contractual provlslons of the Instrument. Baslc flnanclal Instruments are Inltlally recognlsed at the amount receivable or payable Includln8 any related transaction costs, unless the arrangement constltutes a flnanclng transaction, where It Is recognlsed at the present value of the future payments dlscounted at a market rate of Interest for a slmllar debt instrument. Current assets and current Ilabllltles are 5ub5equently measured at the cash or other conslderatlon expected to be pald or recelved and not dlscounted, Debt Instruments are Subsequently measured at amortlsed cost. Flnanclal assets that are measured at Cost or amortlsed c05t are revlewed for oblectlve evldence of Impalrment at the end of each reportlng date. If there Is oblectlve evldence of Impalrment, an Impalrment105515 recognlsed under the appropriate heading In the statement of flnanclal actlvlties in whlch the inltial galn was recogni5ed. Any reversals of Impalrment are recognlsed Immedlatelyi to the extent that the reversal does not result In a carrylng amount of the flnanclal asset that exceeds what the carrylng amount would have been had the Impalrment not prevlously been recognlsed. Deflned contrlbutlon penslon schemes The penslon costs charged In the flnanclal statements represent the contrlbutlons payable by the Charlty durln8 the year. Page 11
Gosforth Nursery Ltd (A company limited by guarantee) Notes to financlal statements for the year ended 31 August 2024 1.7. Government grants Government grants are recognlsed at the fair value of the asset received or receivable. Grants are not recognised until there Is reasonable assurance that the company will comply wSth the condition5 attachlng to them and the grants wlll be received. Government grants are recognlsed usin8 the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematlc basi5 over the perlods In which the company recognlses the related cost5 for whlch the grant is intended to compensate, Grants that are receivable as compensatlon for expenses or losses already Incurred or for the purpose of 8lving Immedlate flnanclal support to the entlty wlth no future related costs are recognlsed In income In the perlod in whlch It becomes recelvable. Grants relatlng to assets are reco8nlsed In Income on a systematlc basls over the expected useful Ilfe of the asset, Where part of a grant relatln8 to an asset Is deferred, It Is recognlsed as deferred Income and not deducted from the carrylng amount of the asset. Under the performance model, where the grant does not Impose speclfled future performance-related condltlons on the reclplent, It Is recognlsed In Income when the grant proceeds are recelved or receivable, Where the grant does Impose speclfled future performan¢e-related condltion5 on the reclplent, Itls recognised In Income only when the perforrnance-related condltlons have been met. Where grants recelved are prlor to satlsfylng the revenue recognitlon crlterla, they are recognlsed as a Ilabllltv. Income from charltable artlvltles Unrestrlcted Restrlcted funds funds 2024 Total 2023 Total Government 8rants Fees from parents Early years entltlement5 53,328 198,117 121,819 226,691 226,691 94,375 94,375 226,691 94,375 321,066 373,264 In 2023 of the Income from charltable actlvltles, £121,819 was attrlbutable to restrlcted Income funds, wlth the balance of £251,445 beln8 unrestrlcted. Actlvltles for generatlng funds Unrestrlcted funds 2024 Total 2023 Total Fundraising events Income from solar panels 679 3,111 679 3,111 4,498 3,045 3,790 3,790 7,S43 In 2023 all of the income from activities for generating fund5 was attributable to unrestricted Income funds. Page 12
Gosforth Nursery Ltd (A company limlted by guarantee) Notes to financial statements for the year ended 31 August 2024 Investment Income Unrestrlcted funds 2024 Total 2023 Total Bank Interest recelvable 783 783 378 783 783 378 In 2023 all of the investment Income was attrlbutable to unrestrlcted Income funds. Costs of charltable artlvltles- by fund type Unrestrlrted funds Restrlcted funds 2024 Total 2023 Total Operatlon of nursery 245,468 107,999 353,467 360,864 245,468 107,999 353,467 360,864 In 2023 of the costs of charltable actlvltles, £135,443 was attrlbutable to restrlcted funds, wlth the balance of £225,421 belng unrestrlcted. Costs of charltable actlvltles - by actlvltv Actlvltles undertaken dlrectly Support costs 2024 Total 2023 Total Operatlon of nursery 349,009 4,458 353,467 360,864 349,009 4,458 353,467 360,864 Page 13
Gosforth Nursery Ltd (A company limited by guarantee) Notes to financlal Statements for the year ended 31 August 2024 Analysls of support costs Operatlon of nursery 2024 Total 2023 Total Accountancy char8es Legal and professlonal fees Bank charges Sundry expenses 1,212 1,796 1121 1,462 1,212 1,796 1121 1,462 I,iio 1,081 106 1,035 4,458 4,458 3,332 Net (out8olng)/lncomlng resources for the year 2024 2023 Net loutgolngl/lncomlng resources Is stated after char8lng'. Depreciatlon and other amounts wrltten off tanglble flxed assets 24,156 22,124 Page 14
Gosforth Nursery Ltd (A company limlted by guarantee) Notes to financial statement5 for the year ended 31 August 2024 Employees Employment costs 2024 2023 Wa8es and salarles Social security costs Penslon c05t5 262,003 14,687 5,059 272,403 12,786 4,595 281,749 289,784 No employee recelved emoluments of more than £60,00012023 None). Number of employees The average monthly numbers of employees Ilncludlng the trustees) durlng the year was as follows: 2024 Number 2023 Number staff 16 18 Durlng the year no expenses were pald to trustees12023 - £nlll, The key management personnel of the Charlty Is comprlsed of the Board of Trustees and Nursery Manager, The total employment beneflts of the key mana8ement personnel were £48,81712023-. £45,2061, io. Penslon costs The company operates a defined contrlbutlon pension scheme In respect of the NEST penslon scheme. The scheme and Its assets are held by Independent managers, The penslon charge represents contrlbutlons due from the company and was a5 follows: 2024 2023 Pension charge 5,059 4,595 Contrlbutlons amountlng to £2,07112023: £2,000) were outstanding at the year end and are Included wlthln other creditors. ii. Taxatlon The charity's activitie5 fall within the exernptions afforded by the provlslons of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these account5. Page 15
Gosforth Nursery Ltd (A company limlted by guarantee) Note5 to financial statements for the year ended 31 August 2024 Short Flxture5, leasehold flttings and property equlpment 12. Tangible fixed assets Total Cost At I September 2023 Addltlons 497,685 11,076 4,953 508,761 4,953 At 31 August 2024 497,685 16,029 513,714 Depreclatlon At I September 2023 Charge for the year 183,769 20,870 7,318 3,286 191,087 24,156 At 31 Au8USt 2024 204,639 10,604 215,243 Net book values At 31 August 2024 293,046 5,425 298,471 At 31 Au8USt 2023 313,916 3,758 317,674 Cost of short leasehold property con51sts of expendlture Incurred constructln8 the purpose-bullt nursery 1£434,6471, the Plne Lodge1£6,6901, a shed1£7,5001, and property improvements1£14.1161, together wlth the constructlon of an outdoor area1£34,7321. The nursery Is leased from Cumbrla County Councll. 13. Credltors: amounts falllng due wlthln one year 2024 2023 Other taxes and soclal securltv Other credltors Accruals and deferred Income 4,516 2,071 1,464 4,940 3,176 1,248 8,051 9,364 Page 16
Gosforth Nursery Ltd (A company limited by guarantee) Notes to financlal statements for the year ended 31 August 2024 14. Flnancial instruments The carrying amount for each category of financlal Instrument Is as follows,. 2024 2023 Flnanclal Ilabllltles measured at amortlsed cost Other creditors Accruals 2,071 1,464 3,176 1,248 3,535 4,424 15. Analysls of net asset5 between funds Unrestrlrted funds Restrlcted funds Total funds Fund balances at 31 August 2024 as represented by.. Tanglble flxed assets Current assets Current liablllties 107,745 63,629 18,0511 190,726 298,471 63,629 18,0511 163,323 190,726 354,049 Unrestrlcted funds Restrlcted funds Total funds Fund balances at 31 Au8U5t 2023 as represented by., Tan8lble fixed assets Current assets Current liabllitles 113,324 73,567 19,3641 204,350 317,674 73,567 19,3641 177,527 204,350 381,877 Pa8e 17
Gosforth Nursery Ltd (A company limited by guarantee) Notes to flnancial statements for the year ended 31 August 2024 16, Anaysis of movements In unrestrlcted funds - current year At 15eptember Incomlng Outgolng 2023 resources resources At 31 August 2024 General funds 177,527 231,264 1245,4681 163,323 Anaysls of movements In unrestrlcted funds - prevlous year At I September 2022 At 31 August 2023 In¢omln8 resour¢es Out8olng resources General funds 143,582 259,366 1225,4211 177,527 Purposes of unre5trlcted funds The charlty'5 unrestrlcted funds can be used wlth the approval of the board of trustees to fund any expendSture whlch falls wlthln the charlty's general alms and oblectlves. Page 18
Gosforth Nursery Ltd (A company Ilmited by guarantee) Notes to flhancial statements for the year ended 31 August 2024 17. Analysis of movements In restrlcted funds - current year At I September 2023 At 31 August 2024 Incomlng resources Out8oln8 resources Bulldlng grants and donatlon5 Other restrlcted funds 204,350 113,6241 194,3751 190,726 94,375 204,350 94,375 1107,9991 190,726 Anaysls of movements In re5trl¢ted funds - prevlous year At I September 2022 At 31 August 2023 Incomlng resources Outgoln resources Bulldlng grants and donatlons Other restrlcted funds 217,974 113,6241 1121,8191 204,350 121,819 217,974 121,819 1135,4431 204,350 Purposes of restrlcted funds Bulldln8 grants and donatlon5 these funds arlse from grants and donatlons glven for the bulldlng of a purpose-bullt nursery. The balance at the year end Is represented entlrely by buSldlng Improvements made from the restricted fund, less accumultated depreclatlon thereon, with a net book value of £190,726. Other restrlcted funds Include grants and donations where the funder or donor has speclfled the purpose for whlch the funds must be used. All such fundlng was fully Spent at the balance sheet date. 18. Flnanclal ¢ommltments At 31 August 2024 the company had annual commitments under non-cancellable operating leases as follows: Land and bulldlngs 2024 2023 Explry date: In over five years 358 351 Page 19
G05forth Nursery Ltd (A company limlted by guarantee) Notes to flnancial statements for the year ended 31 August 2024 19. Reconclllatlon of net movement In funds to net cash flow from operatlng actlvltles 2024 2023 Net movement in funds Add back depreciation charge Deduct interest Income shown In Investlng actlvltles IDecreasel/increase in creditor5 127,8281 24,156 17831 11,3131 20,321 22,124 13781 4,677 Net Cash used by operatlng actlvltles IS,7681 46,744 20. An3lys1s of changes In net funds Openln8 balance Cash flows Closln8 balance Cash at bank and In hand 73,567 19,9381 63,629 Net funds 73,567 19,9381 63,629 21. Company Ilmlted by guarantee Gosforth Nursery Ltd Is a company Ilmlted by guarantee and accordlngly does not have a share capltal. Every member of the company undertakes to contrlbute such amount as may be requlred not exceedln8 £1 to the assets of the charltable company in the event of Its bein8 wound up while he or she Is a member, or wlthln one year after he or she ceases to be a member. Page 20