REGISTERED COTrtPANY IYUMBER: 05976295 (England and Wales) REGISTERED CHARITY NUMBER: 1135907 Report of the Trustees and Unaudited Financial Statements For The Year Ended 31st March 2024 for The Willows Daycare Ltd John Phillips & Co Limited Aountants Unit 81 Centaur Court Claydon Buslness Park GL Blakenham Ipswich Suffolk IP6 ONL
Tbe Willows Daycare Ltd Contsnts of the Financial Ststements For The Year Ended 31st March 2024 Page Report of the Trustees I to 4 Independent Examiner's Report 5 to 6 Statement of Financial Activities Balance Sheet Notes to the Financial Statsments 10 to 15 Detsiled Statsment of Financial AetsvitKs 16 to 17
The Willows Daycare Ltd Report of tbe Trvste For The Year Ended 31st Mareb 2024 Significant activities On the 12th of May 2010 the company was granted its charitable status with The Charity Commission. As of April 2014, The Willows Daycare ceased to be a tenant of the Willows Prin School and negotiated an independent leasing agreement with Suffolk County Council. On Saturday the 3rd of September 2016 The Willows Daycare celebrated the CoMpanS 10th anniversary of trading and hosted a garden party in the recently upgraded garden. The event was exceptionally well attended by parents and children of both the present and past ten years of cohorts. Because of the restrictions introduced during the Covid-19 pandemic many of our established activities such as regular visits to a local Care Home for the early. trips to lo1 activities and visits to the theatre all had to cease or be seriously curtailed. In the last twelve months we have made every effort to undertake new a¢tivities to allow the children to enjoy a level of experience that had been denied to them during the Covid restrictions. We have had our garden redeveloped providing more r(K)m for children to grow their own plants and vegetables. (Our thanks to 'Serene Landscapes, for the help with updating the garden). A visit to the setting by'ZooLab' offered the children the exFrience of close up contac¢ and some petting, of animals they would never nornially have the Op)rtUnIty of seeing at close quarters. We have also contracted 'Jo Jingles, to periodicty visit the setting and present musical experiences and offer practical musical activities to the childr Social investments We assist parents with fmancial advice on funds and schemes which offer financial support to families to give access to childcare and our Daycart services. We are also able to offer some flexible sessions which can assist access to Daycare. The Willows Daycare has introduced a'surplus food exchange. tabl¢ in our entrance foyer. Any spare tinned or PTepacked food that remains from the settings purch&ses for the children's meals is left on the table and can be freely tsken by any parent that is experiencing hardship. We also encourage any parenE who are in a position to do so, to donate food items to the table. There is also a book I toy exchange on offer where families can exchange toys or books, that are in good conditioffj and Provide new experiences for children and families on limited budgets. Volunteers The Willows Daycar¢ is indebted to parents, friends and others who volunteer their help and assist in providing the services we offer. Page 2
The Willows Daycare Ltd Report of the TThteeS For The Year Ended 31st March 2024 ACHIEVEMENf AND PERFORMANCE Charitable activities We work closely with The Willows Family Hub (fornierly The Willows Children's Centre) and Suffoll( County Council by taking in as many tw(F year old's &$ is wssible within Ofsted prescribed ratios. We work alongside the Family Hub and the Local Authority to assist them in offering places for children and babies in need. We continue to keep our ftts as competitive &s possible, taking into consideration the needs of the local community. We have open days. parents evenings. and walks and visits to the locaj amenities. We ensure all staff are qualified to at least level 3 or are working towards this level. We actively encourage and support all staff to continue fuTthering their professional developmcnt. W¢ have achieved an 'outstanding rating on all four of our instionS by Ofsted since we opened in 2007. (July 2007, June 2010. June 2015 and August 2019). Principal funding sources The fmancial statements show incoming totsl resources of £451588 for th& year of April 2022 to March 2023. Reserves policy The trustees aitn to achieve free reserves, those excluding investsnent in tangible fixed assets. equivalent to six months resources exwAded. STRUCTt)RE, GOVERNANCE AND MANAGEMENT":: . Governing document The charity is controlled by its governing do¢umenL a deed of trusL and constitutes a limited company, limited by guarantee, as defined by the Companies Art 2006. The charity is controlled by its governing doeumenL a deed of trus¢ and constitutes a limited company. limited by guarantee, as defined by the Companies Act 2006. The charity is controlled by its governing documenL a Memorandum and Articles of Association dated 24 October 2006 as amended in March 2010. and constitutes a limited company. limited by guarantee, as defmed by the companies act 2006. Recruitment and appointment of new trustees When recrniting new trustees, the important attribute is a p&ssion for the work of our Daycare unit and a rounded experience of personal growth. Where possibl4 the tTUStees consider that the skills and attributes of the Board of TnteeS should include experience of working in educatio particularly with the provision of Daycare services, equal opwrtunities or disability needs. aJ)d management experience. In addition. it is desirable that a trustee should have an interest as far as is practical, personally participating in the work of The Willows DayGqre. It is also considered important that there should be at least one male and female member of the Board of Trustees. OrganisYdtioD21 structure The trustees are responsible for the management and control of The Willows Daycare Charity and meet regularly during the year. All trust¢es give their time freely to the charity and no remunerntion or expenses were paid or claimed of the charity in the current financial year. Page 3
The Willows Dayeare Ltd Report ofthe Trustees For The Year Ended 31st Mareh 2024 STRUCTURE. GOVERNANCE AND MANAGEME Related parties The charity works closely with The Willows Family Hub {forn]erly The Willows Children's Centre) in which the setting is located. The Willows Family Hub assists with the provision of facilities to allow the charity to offer after school and holiday club provision. REFERENCE AND ADMINISTRATIVE DETAILS li Registered Company number 05976295 (England and Wales) Registered Charity number 1135907 Registered office Magdalene Close Ipswich Suffolk IP2 9UX Trustees M W Fotheringham D Causier Ecware Company Secretary Independent Examiner Kevin Leftwich FCCA Jol]n Phillips & Co Limited Accountants Unit 81 Centaur Court Claydon Business Park Gt. Blakenbam Ipswich Suffolk IP6 ONL Approved by order of the board of trustees on ........ . and signed on its behalf by: M W Fotheringham - Trustee Page 4
Independent Examiner's Report to the Trustees of The Willows Daycare Ltd Independent eraminer's report to the trustees of The Willows Dayeare Ltd ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 3 1st March 2024. Responsibilities and basis of report As the charitys trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Ace)- Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in r¢spect of my examination of your charity's aOllnts as carried out under Section 145 of the Charities Act 2011 Cthe 2011 Ace). In canying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Page 5
Independent Ex2miner's Report to the Tntee5 of The Willows Dayc2re Ltd Independent examiner's statement Since your charity's gross income exceeded £250.000 your examiner must be a member of a listed body. I can confirni that I am qualified to undertake the examination because l am a metnber of the Association of Chartered Certified AccounLanty which is one of the listed bodies. I have completed my examination. l Confum that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in Tespect of the Company as required by Section 386 of the 2006 the accounts do not accord with those records" or the accounts do not comply with the accounting requirements of Sertion 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter Considered as part of an independent examination. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and Teporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in comiection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Kevin Leftwich FCCA JolLn Phillips & Co Limited Accountants Unit 81 Centaur Court Claydon Business Park Gt. Blakenham Ipswich Suffolk IP6 ONL Date- . Page 6
The Willows DaycAre Ltd Statement of Financial Activiti&s For The Year Ended 31st March 2024 2024 UnStrIcted fund 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 495,604 452,588 Inveslment income 878 Totsl 496,482 452.588 EXPEM)ITURE ON Raising funds 4569 186 Charitable activities General 483,013 449,162 Other 49930 49.149 Total 537512 498,497 NET ll¥coMEI(EXPEIYDITURE) (41,030) (45,909) RECONCILIATION OF FUNDS Total funds brought forward 160215 206,124 TOTAL FUNDS CARRIED FORWARD . ¥. 119,185 160,215 The notes forni part of these financial statements Pag¢ 7
The Willows Daycare Ltd Balante Sheet 31st March 2024 2024 Unrestricted fund 2023 Total funds Notes FIXED ASSETS Tangible assets 2,631 2.771 CURRENT ASSETS Debtors Cash at bank 282 117216 3,539 155.467 117,498 159,006 CREDfroRS Amounts falling due within one year (944) (1,562) NET CURRENF ASSETS I1654 157,444 TOTAL ASSETS LESS CURRENT LL4BILITIES 119,185 160,215 NET ASSETS 119.185 160.215 10 Unrestricted funds 119.185 160215 TOTAL FUNDS 119.185 160215 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 3 1st March 2024. Th¢ members have not rcquired the company to obtsin an audit of its financial statements for the year ended 3 1st March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ¢nsuTing that the charitsble company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statcments which give a true and fair view of the stste of affairs of the charktable company &s at the end of each fmancial year and of its suiplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to fmancial statements, so far as applicable to the charitable company. The notes forn part of these financial statements Page 8 continued...
Tbe Willows Dgycare Ltd Balance Sheet- continued 31st March 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of TnCeS and authorised for issue on . and were signed on its b¢half by: M W Fotheringham . Trustee The notes forni part of these financial statements Pag¢ 9
The Willows Daycare Ltd Notes to tbe Financial Statements For The Year Ended 31st March 2024 ACCOI]NTING POLICIES Basis of preparing the financial ststements The financial statements of the charitable company. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charitics: Statement of Recommended Ptactice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The fmancial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activitie5 oncc the charity has entitlement to the nds, it is probable that the incom¢ will be received and th¢.amount can be measured reliably. Expenditsre Liabilities are recOlISed as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is ount¢d for on an accruals basis and h&s been classified under h¢adings that aggregate all cost related to the category. Where costs carLnot be directly attributed to particular headings th¢y have been allocated to activities on a b&sis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates. in order to write off each asset over its estimat¢d useful life. Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting unStrIcted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted pun)oses within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Furtber explanation of tbe nature and purpose of Cach fund is included in the notes to the financial statements. Hire purchase and leasing commitments Rentals paid under opeTating leases are charged to the Statement of Financial Activities on a straight line b&sis over the period of the lease. Page 10 continued...
The Willows Daycare Ltd Notes to tbe Financial Statements- continued For The Year Ended 31st March 2024 ESTMENT ThCOME 2024 2023 Bank intcrest received 878 NET INCOTrtEI(EXPENDfruRE) Net incomel(expenditure) is stated after ch2rginyJ(crediting): 2024 2023 Depreciation - owned assets Hire of plant and machinery 140 1,431 386 1,035 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits forth¢ year ended 3 1st March 2024 nor for the year ended 3 1st March 2023. Trustees, expenses There were no trustees, exPe[S paid for the year en(kd 31 st March 2024 nor for the year ended 31 st March 2023. STAFF COSTS The average monthly number of employees during the year was as follows: 2024 19 2023 20 Employees No employees received emoluments in excess of £60.000. Pagell continued...
The Willows Daycare Ltd Notss to the Financial Statements - continued For The Year Ended 31st March 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivrrIES Unrestricted fund INCOME AIW ENDOWMENfS FROM Donations and legacies 452.588 EXPENDITURE ON Raising funds 186 Cbaritsble activities General 449,162 Other 49.149 Totsl 498,497 NET INCOMEI(EXPENDTfuRE) (45.909) RECONCILIATION OF FUNDS Total fijnds brought forward 206,124 TOTAL FtfNDS CARRIED FORWARD 160,215 TANGIBLE FIKED ASSETS improvements to property Fixtures Plant and nchIllery fittings Totals COST At 1st April 2023 and 3 1st March 2024 29,412 10213 49,125 DEPRECIATION At 1st April 2023 Charge for year 29,412 7289 9,653 140 46?54 140 At 3 1st March 2024 29.412 7289 9,793 46,494 NET BOOK VALI)E At 31 st March 2024 2311 420 2.631 At 31 st March 2023 2,211 560 2.771 Page 12 continued...
The Willows Dayeare Ltd Notes to the Financial Statements - continued For The Year Ended 31st March 2024 DEBTORS: AMOIINTS FALLING DUE wfrHllY ONE YEAR 2024 2023 Trade debtors 282 3,539 CREDfroRS: AMouNfs FALLING DUE WITKtN ONE YEAR 2024 2023 Trade creditors Accrued expenses 205 739 205 1,357 944 1.562 10. MOVEME IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestrieted funds General fiuid 160215 (41,030) 119,185 TOTAL FUThDS 160215 (41,030) 119,185 Net movement in funds included in the above are as follows: Lncoming reSoUeS Resources expended Movement in fimds Unrestricted funds General fund 496.482 (537512) (41.030) TOTAL FUNDS 496,482 (537512) (41,030) Page 13 continued...
The Willows Dayeare Ltd Notes to the Financial Statements - continued For The Year Ended 31st March 2024 10. MOVEMENT IN FUNDS- eontinued Comparatives for movement in fvnds Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 206.124 (45,909) 160.215 TOTAL FUNDS 206,124 (45,909) 160,215 Comparative net movement in funds. included in the above are as followts: Incoming ' resources ResouTces expended Movement in funds Unrestricted funds General fund 2 452,588 (498.497) (45,909) TOTAL FUNDS 452,588 (498,497) (45.909) A current year 12 months and prior year 1.2 month¢combined position is as follows: Net movement in funds At 31.3.24 At 1.4.22 Unrestricted funds General fund 206,124 (86.939) 119,185 TOTAL FUNDS 206,124 (86,939) 119,185 Page 14 continued...
The Willows Daycare Ltd Notes to tbe Financial Statements - continued For The Year Ended 31st March 2024 10. MOVEMENT IN FUNDS . eonlinued A current y¢ar 12 months and prior year 12 months combined net movement in funds. included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 949.070 (1,036,009) (86,939) TOTAL FUNDS 949.070 (1,036,009) (86,939) 11. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 3 1st March 2024. Page 15
The Willows Daycare Ltd Detailed Statement of Financial Activities For The Year Ended 31st March 2024 2024 2023 LNCOME AND ENDowNtEs Donations and legacies Fees charged Other income 493,847 1,757 449.710 2,878 495,604 452.588 Investment income Bank interest received 878 Total incoming rnsources 496,482 452.588 EXPENDTfURE Other trading activities Bad debts 186 Cbaritsble activities Wages Telephone Training and Welfare Food Toys and materials Repairs and maintenance School outings Nursery costs 460J48 S94 400.720 933 2,239 17,624 17,166 7,401 3,079 22,071 483,013 449.162 Other Hire of equipment otTice administrdtion Use of facilities and support Bank charges Insurance Cleaning AccounLancy Computer costs Carried forward 1,431 S,844 19,197 137 876 16.837 2200 3268 49,790 1,035 6,501 19,061 337 832 16,532 2,000 2,465 48,763 This page does not forni part of the statutory fll)ancial statements Page 16
The Willows Daycare Ltd Detsiled Ststement of Financial Activities For The Year Ended 31st Mareb 2024 2024 2023 Other Brought forward Depreciation of taTAgible fjxed assets 49.790 140 48,763 386 49,930 49,149 Total resources expended 537512 498.497 Net expenditure (41,030) (45,909) This page does not forni part of the statutory financial statements Page 17