Registered number: 6535999 Charity number: 1133631 THE COTTAGE NURSERY (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
THE COTTAGE NURSERY IA company limited by guarantee) CONTENTS Page Reference and administrative details of the Company. its Trustees and advisers Trustees. report Independent examlner's report Statement of financial activities 10 8alance sheet Statement of cash flows 12 Notes to the financial ststement$ 13-24
THE COTTAGE NURSERY IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2021 Trustees Anita Baker (resigned 24 November 20201 Timothy Miller Ella Biggs Ceri Nicholson David Russell Aideen Harold Hayley Ward Vyvyan Attwood {resigned 24 November 20201 Clare Thomas lappointed 25 November 20201 Company registered number 6535999 Charity registered number 1133631 Registered office Alexander Hall Watchfield Swindon Willshire SN6 8TS Senior Management Clare Olden, Joint Manager Trudi Krzywiec, Joint Manager Accountants James Cowper Kreston Chartered Accountants Reading Bridge House George Street Reading Berkshire RG18LS Page 1
THE COTTAGE NURSERY IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements of The Cottage Nursery (the company) for the year ended 31 August 2021. The Trustees confirm that the annual report and the financial statements of the company comply with the ¢urrenl statutory reqLJiremenls, the requirements of the companls goveming document and the provisions of the Statement of Recommended Practi ISORP}"Accounling and Reporting by Charities" issued in January 2019. Since the company qualifies as 'small' under section 383, the strategic report required of medium and large companies under The Companies Act 2006 {strategic Report and Directors Report) Regulations 2013 is not required. Objg¢tives and a¢tivitigS The Cottage Nursery offers day care, sessional care and pre-school education lo children aged from 3 months 10 5 years. This year over 60°/0 of the nursery's membership were families working or studying at the Defence Academy, a number of whom were international families. The remainder were Children from the local communities of Watchfield and Shrivenham. The aim of the nursery is lo enhan the development and education of the Children in its care by providing the best childcare available to the local commLJnity with a safe, secure and stimulating environment in which the children are encouraged lo rea¢h their full potential and where stsff feel valued and engaged. The nursery follows the Early Years Foundation Stage IEYFSI with its planning and children take part in activities that are both age and stage appropriate. The Nursery keeps chickens Ilhat provide a source of fresh eggs as well as having an educational benefit), and maintain planters that the children help to look after. There are regular walks into the locality of the Nursery which have provided an opportunity for children to see and learn more aboLJt nature. We hope to restart the football sessions, run by an outside agency, as an extra-curricular activity in future as well as welcoming Zoolab back into the Nursery next year. All children are treated equally, and British Values are embedded in the way the nursery runs, with all staff undertaking Prevent Duty training. Covid-19 The Covid-19 pandemic continued to have a major impact on the Nursery during the year and reference to that impact is made throughout this report. Because of the pandemic a number of staff were 'ftJrloughed' during the year and we had lo close one of the rooms for two weeks. The nursery has continued to implement the changes that were made last year to the way the rooms were configured, the drop-off and pick-up arrangements, the way in which food is served and the way in which staff are utilised. The nursery has also taken on board the advi and processes, mandated and advisory from Oxfordshire County Council and Public Health England. It is important to recognise that the Management and Staff have been quite superb in their response to the crisis throughout the year. Their professionalism, dedication, Care and allenlion to detail has meant that the impact on Children, their carers and the Trust has been minimised. Page 2
THE COTTAGE NURSERY IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Oblectlves and actlvltles {contlnuedl Publlc beneflt The Cottage Nursery provides care for children from both the local community and the military families attending the Defence Academy. In so doing it welcomes children from all backgrounds and nationalities and supports children and families for whom, in some cases, their first language is not English. The nursery supports any child with special education needs and has strong links with outside agencies provided by the local council. 11 also liaises with the local schools lo aid the transition of children into the school system. The nursery actively promotes a Healthy Eating Policy providing healthy snacks and a 'home-cooked' lunch. Help and support is offered lo parents to develop their children's eating habits. The nursery will assist any parent who finds it hard to pay their nursery bill with a personalised payment plan, and will also offer support to vulnerable families. Sadly we were unable to perform our annual Christmas concert in Sl. Alban's Church in Walchfield due to COVID-19 but hope to include this in our curriculum for December 2021. The nursery offers 2-year old funded places and also offers places lo all children eligible for the 3 and 4-year-old funding, both the slatulory 15 hours and the extended 30 hours where parents meet the criteria. It should be noted that the funding received for such places falls well short of the cost of actually providing those places. No Trustee received any private benefit or any other remuneration from the Charity. The Trustees have had regard to the Charity Commissions, guidance on public benefit. Page 3
THE COTTAGE NURSERY IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Achlevements and performance The year ended 31 st August 2021 saw the nursery keep its own books and records for the 18th year running. The bookkeeping services are the responsibility of the nursery Managers. The most recent Ofsled inspection was in June 2018 when the Nursery was assessed as 'Good'. Since then the Nursery management and staff have continued lo develop resources and best practice within the Nursery. This has been recognised by Oxfordshire County Council who now use the Nursery as an example of best practice for other providers. It goes without sawng that the Trustees are delighted with the continued progress of the Nursery which we recognise is down lo the hard work and diligent efforts of the management and 811 of the staff. Whilst it would be a great achievement for the Nursery to be assessed as Outstanding il is our aim lo ensure that 'Good' is maintained and that the Nursery continues to aim for best practice and a safe and caring environment for the children. The Lending Library has remained closed this year due lo COVID-19 however, we are looking forward lo re- opening and continuing lo grow and develop the library with parents encouraged as part of the 'Parents in Partnership, ethos to ensure that children take the opportunity to borrow the books in the library. We will also re- open the lending library for parents. Thanks to the generosity of parents and others who have taken part in the various fundraising activities we have continued to develop the outdoor play and activity areas and also purchased more outside play equipment. We continue lo display the Recognition Board which provides the opportunity for parents and staff to thank and recognise staff who have gone over and beyond what might be expected. All parents are encouraged to add their comments lo this Board when passing through the Nursery. Flnanclal revlew A stslemenl of the financial position and detsils of income and expenditure is provided to each Trustee meeting where it is reviewed by Iruslees and management. Reserves have been built up over previous financial years to cover redundancy and closure costs should the need ever arise to wind up the nursery. We also have £85,000 on deposit with the Charity Bank which not only diversifies our bank accounts bul also pays a small amount of interest. Fees are reviewed annually and are fixed at a level that is expected to raise sufficient revenue to cover all necessary expenditure whilst remaining competitive within the local area. The nursery receives Nursery Education Funding for qualifying 2, 3 and 4-year olds, however, as slated earlier the level of funding received, which is sel by local govemmenl, is significantly below the nursery's hourly rate. This is a maller which is beyond the nursery's control. The nursery is fully compliant with both the National Living Wage and Pension Aulo-Enrolmenl. The significant increase in the National Living Wage has put an additional strain on the Nursery bul we are delighted lo report that a consistency in child numbers throughout the year at the Nursery, and prudent management of expenses has enabled the Nursery lo once again make a operating surplus this year which the Trustees would like to see invested back into the nursery. During the year we have continued to take advantage of the Government's job retention scheme. (Using this scheme we furloughed one member of staff where we maintained full payl. Page 4
THE COTTAGE NURSERY IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Although the encroachment status of the nursery continues to be reviewed annually, the Trustees remain grateful for the continued support of the Defence Academy wth the provision of ils building and main utilities. The Defence Academy has also been responsive lo our maintenance needs and as a result we have well maintained buildings and facilities. The nursery is run as a self-funding body. Reserves polley A slalemenl of the financial position and details of income and expenditure is provided to each Trustee meeting where il is reviewed by Trustees and management. Reserves of £326,156 have been built up over previous financial years to cover redundancy and closure costs should the need ever arise lo wind up the nursery. Structure, governance and management Constltutlon The nursery is registered as a charitable company limited by guarantee (number 65359991. The nursery is conslituled under ils Memorandum and Articles of Association dated 28th April 2008 {amendments made January 2011 and November 20181 and is a registered charity Inumber 11336311. Organlsatlonal structure The nursery is run jointly by two Managers, with four Room Supervisors, one of whom has been appointed as Senior Room Supervisor and assumes the role of Deputy as the need arises. Some finance and bookkeeping functions have been outsourced on a conlraclual basis but will now be brought in house. The payroll continues lo be prepared by an outside Payroll Agency and a firm of Accountants is responsible for preparing the year end accounts. Health & Safely is looked after jointly by the two Managers and the Senior Room Supervisor. All fire related checks and PAT testing are carried out by Serco. There are four Safeguarding Officers. but all staff are trained on Safeguarding and Prevent. The Managers report to the Trustees who meet regularly., minutes of these meetings are kept and are available lo all staff and parents as they act as a record of the nUrSeS official business. Nursery staff are represented al Trustee meetings by the nursery Managers, this ensures a good and open flow of communication. Declaffitions of Interest are recorded when applicable. Tralnlng & Inductlon of Trustees and staff The responsibilities of the Trustees are documented in the constitution. Trustees are expected lo serve minimum of two years lo a maximum of six years in post and are generally appointed from within the local community. Their appointment is ratified at the annual AGM. Trustees are expected to spend time during the working day at the nursery to familiarise themselves with the day lo day operation and lo meet the members of staff, however, this has been Curtailed during the recent crisis. Copies of the policies and procedures are made available to them. All Trustees are subject to the same level of checks, including DBS checks, as members of staff. The majority of staff are qualified to a minimum of NVQ level 3 in childcare lor equivalentl. However. staff are chosen not just for their qualifications but also for their individual caring skills. All staff are actively encouraged lo continue to obtain new qualifications and further their learning. Safeguarding and first aid training are mandatory. Page 5
THE COTTAGE NURSERY IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Structure, governance and management (Contlnuedl Rlsk Management Regular risk assessments are carried out by the Managers, daily checks are done by the staff in all areas of the nursery. The Trustees have assessed the major risks lo which the nursery is exposed, in particular those related lo the operations and finances, and are satisfied that systems and procedures are in place lo mitigate exposure lo major risks. There are six lead Safeguarding Officers. Safeguarding and Prevent training is mandatory to level one for all staff. All staff must have a current DBS which is renewed every three years. They must also declare their suilabilily each term, this extends to 'suitabilily by association,. All outside agencies working regularly within the nursery are required to have a current DBS and must declare their on-going suitability. They must also have suitable insurance cover. Both Managers and the Chair of the Trustees have completed 'Safer Recruitment, training and SR practice is followed with every new recruitment of both staff and Trustees. Plans for the future The management structure has worked well during the year and there are no plans to alter this. In 2021-22 the plan is lo consolidate the progress that has been made during the past few years and to continue lo develop the outdoor facilities wherever possible. During the year we will fresh some of the décor both internally and extemally and wll also enhance the facilities and equipment in the rooms. The kitchen will also gel some attention lo ensure il continues to be safely equipped to deliver the number of meals that are now required on a daily basis. We will continue lo invest in Training and development of staff so that they not only fully equipped to meet statutory requirements but also in aspects of child development and care that extend the reach of the Nursery. Page 6
IA ¢(ffipaAy lknll•d by guarantw) TRUSTEES. REPORT IcoKfiNUED) FOR THE YEAR ENDED 31 AUGUST 2021 prwing the Trnstett¥' report and the finanGi•I stateffrt>nts in a¢¢oTdance wilh •tcabl8 law Unlhj AcntrYd Standards (Unibj Kryk)m Generdlty Acceptwj Paounling Practhe). law. Ihe Trusiees must not apFYo¥e the fina181 atements unless are Satisf that thvi gi a true and fair of the state of alFa1 of the CThny and of its incAxntTrJ res(rCeS and a[cat)n of resounxs. rewwed to.. ser¥e the ffth)d8 and prin¢483 ofthe Charits8 SORP (FRS 11Y2): state wthether ryplKble UK kuunling Standards (FRS 1(r2) have beeft frAkrrt sU4"t kn any mtsial departures di8closed and OXFdained in the fincIal prepare Ihe financial slatements on lh8 9)ing (xinn basis unless it is Inapwopnth to presurn that the c will c¥mtinue in busine88. The TnBtees are resp1)19 for keAng thJu ac¢(wnting reLcKd8 that are sufficiert to sh(M and expkin are also respon8ible for safeguard¥ig the assets of the cnY and for taking reasonable steps for th8 Trustee 2 December 2021
THE COTTAGE NURSERY IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Indgpgndgnt Examingr's Rgport to the Trust99$ of The Cottage Nursery {'the Company'l 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 Trustees of the Company {and its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordan with the requirements of the Companies Act 20061.the 2006 A¢t'}- Having satisfied myself that the accounts of the Company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Companls accounts ¢arried out under section 145 of the Charities Act 2011 I'lhe 2011 Acl'l. In ¢arrwng out my examination I have followed the Directions given by the Charity Commission under section 145151{bl of the 2011 A¢t. Indgpgndgnt Examiner'$ Ststgmgnt Since the Companys gross income exceeded £250,000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of The institute of Chartered A¢countants in England and Wales, which is one of the listed bodies. I have wmpleted my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by 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 fail view which is not a matter considered as part of an independent examination: or 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 lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concems and have Come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be rea¢hed. Page 8
THE COTTAGE NURSERY IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 This report is made solely to the Companys Trustees, as a body, in accordance with Part 4 of the Charities IAccounts and Reports) Regulations 2008. My work has been Ljndertaken so that I might stale to the Companls Trustees those matters l am required lo slate lo them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility lo anyone other than the Company and the Companls Trustees as a body, for my work or for this report. P. Signed= Dated.. 14 December 2021 Alexander Peal BSclHonsl FCA DChA James Cowper Kreston Chartered Accountants Reading Bridge House George Street Reading Berkshire RG18LS Page 9
THE COTTAGE NURSERY IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2021 Unrestricted funds 2021 Total funds 2021 Total funds 2020 Noto Income from: Donations and legacies Charitable activities other trading activities Investments Other income 9,751 445,340 839 1.092 949 9,751 445,340 839 1.092 949 25,039 337,319 926 47 32.182 Total income 457.971 457.971 395,513 Expenditure on: Raising funds Charitable activities 102 397,739 102 397,739 414 372,449 Total expendlture 397.841 397.841 372,863 Net income 60.130 60.130 22,650 Net movement In funds 60.130 60.130 22,650 Reconclllatlon of funds.. Total funds brought forward 266.026 266.026 243,376 Total fund$ carried forward 326,156 326,156 266,026 The notes on pages 13 to 24 fom) part of these financial statements. Page 10
eomp•ny lim*•d ty gu•rnntso1 AS AT 31 AUGUST 2021 Flx•d TaTrJth 088ets 12 11,540 16,392 11,540 C&qh at WKI in hand 2ff2,102 320A32 262.11Y2 Cr&lik)f8: amwnts faifry wthin ( 13 (gM8) 17,616) 310,764 254.486 326.156 14 326.156 Tolal fund• 326,156 478 dconwanies kt 2. the smgM ccrfnwies regine. 2 December 2021 Pwe 11
THE COTTAGE NURSERY IA company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2021 2021 2020 Note Cash flows from operatlng actlvltles Nel cash used in operating activities 66,143 35,342 Cash flows from Investlng actlvltles Interest Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets 1,092 47 100 111.1891 18.9051 Net cash used In Investlng actlvltles 17,8131 111.042) Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 58,330 24,300 262,102 237,802 Cash and cash equlvalents at the end of the year 18 320,432 262,102 The notes on pages 13 to 24 fomi part of these financial statements Page 12
THE COTTAGE NURSERY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Accounting poli¢igS 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The Cottage Nursery meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othenNise stated in the relevant accounting policy. 1.2 Company status The charity is a private company limited by guarantee and incorporated in England and Wales. The address of its registered office and principal place of business is Alexander Hall, Watchfield, Swindon, Wiltshire, SN6 8TS. The members of the company are the parents who elect the Trustees named on page 1, to run the company on their behalf. In the event of the charity being wound up, the liability in respect of the guarantee is limited lo £1 per member of the charity. 1.3 Fund accounting General funds are unrestricted funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. 1.4 Income All income is recognised once the Company has entitlement lo the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation lo investment income is recognised at the time the investment income is receivable. The Nursery receives a grant each term from Oxfordshire County Council which pays for some children lo receive up to 15 or 30 hours of care at the Nursery each week. The grant is applied for on a termly basis and is recognised in the financial statements when the Nursery becomes entitled to receive the income. 1.5 Expenditure Expenditure is recognised On there is a legal or conslruclive obligation lo transfer economic benefit lo a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity- The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Expenditure on raising funds includes 211 expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Governance costs are those incurred in connection with administration of the company and Complian with constitutional and statutory requirements. Page 13
THE COTTAGE NURSERY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Accounting poli¢ig$ l¢ontinugdl 1.6 Donated $grvi¢os The Defence Academy of the United Kingdom bears certain costs on behalf of the Collage Nursery. These costs are not separate and identifiable from those of the Academy itself and have therefore not been recognised in the accounts as donated servi$ bLJI are disclosed here as such. Fundraising ¢osts included in Costs of activities to generate funds are included in donated Servi$. 1.7 Value addgd tax The Nursery is currently not registered for VAT therefore all VAT is written off lo the Statement of Financial Adivities as incurred. 1.8 Tangiblg fixod assets and dopreciation Tangible fixed assets are carried at cost, net of depreciation and any provision for impaimient. Depreciation is provided at rates calculated lo write off the cost of fixed assets, less their estimated residual value, over their expected useful lives. Depreciation is provided on the following bases.. Fixtures and fillings Computer equipment Playground equipment 20.10 Slraighl Line 20 /0 Slraighl Line 20 /0 Straight Line 1.9 Cash at bank and in hand Cash al bank and in hand includes cash and short temi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.10 Liabilitigs Liabilities are recognised when there is an obligation al the Balan sheet date as a result of a past event, il is probable that a transfer of economi¢ benefit will be required in selllement, and the amount of the settlement can be estimated reliably. Liabilities are recognised al the amount that the company anlicipales il will pay lo settle the debt or the amount it as received as advanced payments for the goods or services it musl provide. 1.11 Pgnsions The Comapny operates a defined ¢onlribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the Contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profil or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds. 1.12 Financial in$trumgnt The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value. Page 14
THE COTTAGE NURSERY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Accounting poli¢ig$ l¢ontinugdl 1.13 Critical accounting g$timato$ and areas of judggmgnt Estimates and judgements are continually evalLJated and are based on historical experience and other factors, including expectations of future events that are believed lo be reasonable under the CircumstanS. Critical accounting g$timato$ and assumptions: The company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment lo the carrying amount of assets and liabilities within the next financial lear are discussed below. All expenditure is accounted for on an a¢crLJals basis and has been included under expense categories that aggregate all costs for allocation to aclivilies. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resour8. Tongiblo fixed assets.. Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the asset and the projected disposal values. Incomg from donations and lega¢ig$ Unrgstricted funds 2021 Total funds 2021 Total funds 2020 Donations 50 50 Grants Government grants 100 24,939 9,701 9,701 9,751 9,751 25,039 Total 2020 25,039 25,039 Page 15
THE COTTAGE NURSERY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Incomg from ¢haritablg activities Unrestricted funds 2021 Total funds 2021 Total funds 2020 Fees and deposits Grants 349,414 95,926 349,414 95,926 234,421 102,898 445,340 445,340 337,319 Total 2020 337,319 337,319 Fundraising income Unrestricted funds 2021 Total funds 2021 Totsl funds 2020 Fundraising events 839 839 926 Investment Income Unrestrlcted funds 2021 Total funds 2021 Total funds 2020 Bank interest received 1,092 1,092 47 Total 2020 47 47 Page 16
THE COTTAGE NURSERY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Other incoming resources Unrestricted funds 2021 Total funds 2021 Total funds 2020 other income Insurance claims 949 949 200 31,982 949 949 32,182 Total 2020 32,182 32,182 Analysis of expenditure on charitsble activities Summary by fund type Unrestricted funds 2021 Total funds 2021 Total funds 2020 Nursery costs Governance costs 395,075 2,664 395,075 2,664 370,234 2.215 397,739 397,739 372,449 Total 2020 372,449 372,449 Page 17
THE COTTAGE NURSERY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Analysis of expgnditurg by activities Activitigs undartakgn directly 2021 Support Costs 2021 Total funds 2021 Total funds 2020 Nursery costs Governance costs 395,075 395,075 2,664 370,234 2,215 2,664 395,075 2,664 397,739 372,449 Total 2020 370,234 2,215 372,449 Analysis of direct costs Total funds 2021 Total funds 2020 Staff costs 346.546 5.053 3,537 22,365 2.072 5.175 505 314,529 11,144 1,748 22,238 1,660 3,181 964 Depreciation Staff training and recruitment Nursery consumables Insurance Premises expenses Printing, postage, stationery and advertising Computer expenses Travel expenses Clothing costs Subscriptions Sundry expenses Bank charges Payroll charges IProfitllloss on disposal of fixed assets Consultancy fees 320 386 57 380 883 7,602 206 2,202 51 498 937 4.516 213 1,903 1.435 3,003 395.075 370,234 Page 18
THE COTTAGE NURSERY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Analysis of expgnditurg by a¢tivitig$ {¢ontinuedl Analysis of support costs Total funds 2021 Total funds 2020 Govemance costs 2.664 2,215 Indopend8nt axaminer's remuneration 2021 2020 Fees payable lo the Company's independent examiner for the independent examination of the Companls annual accounts 2,664 2,215 10. Staff costs 2021 2020 Wages and salaries Social security costs other pension costs 320,163 17,983 8,400 286,603 19,736 8,190 346,546 314,529 The average number of persons employed by the Company during the year was as follows.. 2021 No. 2020 No. 19 19 No employee reiVed remuneration amounting to more than £60,000 in either year. During the year the remuneration and benefits received by key management personnel tolalled £82,533 12020.. £95,645). Page 19
THE COTTAGE NURSERY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Trustg&$' rgmungration and gxpgnsgs During the year, no Trustees reiVed any remuneration or other benefils12020 - £NILI. During the year ended 31 August 2021, no Trustee expenses have been incurred12020- £NILI. 12. Tangiblo fixed as$gt$ Flxtures and flttings Computer Playground equlpment equlpment Total Cost or valuatlon At 1 September 2020 Additions 10.366 1.836 50,143 8,905 62,345 8,905 At 31 August 2021 10.366 1.836 59,048 71,250 Dapreciation At 1 September 2020 Charge for the year 8.292 2.074 1.580 87 40,933 2,892 50,805 5,053 At 31 August 2021 10,366 1,667 43,825 55,858 Net book value At 31 August 2021 169 15,223 15,392 At 31 August 2020 2,074 256 9,210 11,540 Page 20
THE COTTAGE NURSERY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Crgditors: Amounts falling dug within one year 2021 2020 Trade creditors Other taxation and social security Accruals 342 288 6,819 2,507 4,821 2,507 9,668 7,616 14. Statement offunds Statement of funds - current year Balance at 1 September 2020 Balance at 31 August 2021 Income Expenditure Unrestrlcted funds Reserves and general funds 266,026 457,971 1397.8411 326.156 Statement of funds - prlor year Balance at 1 September 2019 Balance at 31 August 2020 Income Expenditure Unrg$tri¢tgd funds Reserves and general funds 243,376 395,513 1372,8631 266,026 Page 21
THE COTTAGE NURSERY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Summary offunds Summary offunds- Qu9nt ygar Balance at 1 September 2020 Balance at 31 August 2021 In¢omg Expgnditurg General funds 266.026 457,971 1397,841) 326.156 Summary offunds - prior year Balan at 1 September 2019 Balance at 31 August 2020 Income Expenditure General funds 243,376 395,513 1372,8631 266,026 16. Analysls of net assets between funds Analysls of net assets between funds - current year Unrestricted funds 2021 Total funds 2021 Tangible fixed assets Current assets 15,392 320,432 19,6681 15.392 320.432 {9,668) Creditors due within one year Total 326,156 326.156 Analysis of net assets between funds - prior year Unreslricled funds 2020 Total funds 2020 Tangible fixed assets Current assets 11,540 262,102 17,6161 11,540 262,102 17,6161 Creditors due within one year Total 266,026 266,026 Page 22
THE COTTAGE NURSERY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Reconciliation of ngt movgmgnt in fund$ to ngt Cash flow from operating activitigs 2021 2020 Nel income for the year las per Statement of Financial Acliviliesl 60,130 22,650 Adjustmont$ for: Depreciation charges Interest Loss on the sale of fixed assets 5,053 11,0921 11,144 1471 51 Decrease in debtors Increase in creditors 2,052 1,526 Net cash provlded by operatlng actlvltles 66,143 35,342 18. Analysis of cash and cash equivalents 2021 2020 Cash at bank and in the hand 320,432 262,102 Total cash and cash equivalents 320,432 262,102 19. Analysis of Changes in ngt d&bt At1 September At31 2020 Cash flows August 2021 Cash at bank and in hand 262,102 58,330 320,432 262,102 58.330 320.432 20. Related party transactions There were no related paty transactions in the year or the prior year. 21. Controlling party The ultimate controlling paty is the charitys Trustees as detailed on page 1 of the financial statements. Page 23
THE COTTAGE NURSERY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 22. Pgnsion ¢ommitmonts The Charity operates a Stakeholder Pension Scheme for ils employees. This is a money purchase or defined contribution scheme. The employer's contribution is 3°/0 of the gross pay, and for the year totalled £8,400 {2020.' £8,190). At the balance sheet date £Nil 12019.'£Nill of contributions {employees and employers) were outstanding. Page 24