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 nUrSe￿S 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
Ac￿￿ntrYd Standards (Unibj Kryk)m Generdlty Acceptwj Paounling Practhe).
law. Ihe Trusiees must not apFYo¥e the fina￿181 *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 ryplK*ble UK kuunling Standards (FRS 1(r2) have beeft frAkrrt sU4"￿t kn any
mtsial departures di8closed and OXFdained in the fi￿ncIal
prepare Ihe financial slatements on lh8 9)ing (xin￿n basis unless it is Inapwopnth to presurn that the
c￿ will c¥mtinue in busine88.
The TnBtees are resp￿1)19 for ke￿Ang thJu* ac¢(wnting reLcKd8 that are sufficiert to sh(M and expkin
are also respon8ible for safeguard¥ig the assets of the c￿nY 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
Circumstan￿S.
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
resour￿8.
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 re￿iVed 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&$' rgmungration and gxpgnsgs
During the year, no Trustees re￿iVed any remuneration or other benefils12020 - £NILI.
During the year ended 31 August 2021, no Trustee expenses have been incurred12020- £NILI.
12.
Tangiblo fixed as$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- Qu￿9nt 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