# **MILLERS DENE DAY CARE CIC A PRIVATE LIMITED COMPANY**
**REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
**Company Registration Number 07233877**
**MILLERS DENE DAY CARE CIC**
## **A PRIVATE LIMITED COMPANY**
## **ANNUAL REPORT AND FINANCIAL STATEMENTS**
For the year ended 31 March 2021
|**Contents**|**Page**||
|---|---|---|
|Directors' report|1 to|2|
|Profit and loss account||3|
|Balance sheet||4|
|Notes to the financial statements|5 to|8|
## **MILLERS DENE DAY CARE CIC**
## **A PRIVATE LIMITED COMPANY**
## **DIRECTORS' REPORT**
For the year ended 31 March 2021
The directors present their annual report and unaudited financial statements of Millers Dene Day Care CIC for the year ended 31 March 2021, which are set out on pages 3 to 8
## **Status**
A private company limited by guarantee without share capital, Community Interest Company (CIC). , first registered on 23 April 2010, number 07233877.
## **Registered Office**
Walkergate Early Years Centre Shields Road Newcastle upon Tyne Tyne & Wear NE6 4XW
## **Directors**
Toni Blench Bernadette Matthews Samantha Sampson Hollie Jane Cox
## **Accountants**
Connected Voice Business Services Ltd Higham House Higham Place Newcastle upon Tyne NE1 8AF
1
## **MILLERS DENE DAY CARE CIC**
## **A PRIVATE LIMITED COMPANY**
## **DIRECTORS' REPORT**
For the year ended 31 March 2021
## **Principle Activities**
The principal activity of the company is the provision of pre-school education for children aged between two and four years old.
## **Directors**
The following directors have held office during the year and up to the date of signature of the financial statements, are as follows:
Tone Blench Bernadette Matthews Samantha Sampson Hollie Jane Cox
## **Statement of Directors' Responsibilities**
The directors are responsible for preparing the Director's Report and the financial statements in accordance with applicable law regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under Company Law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to :
- ●Select suitable accounting policies and then apply them consistently.
- ●Make judgements and accounting estimates that are reasonable and prudent.
- ●Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board on
Mrs Hollie Jane Cox Director
11/11/2021
and signed by its order.
2
## **MILLERS DENE DAY CARE CIC**
A Private Limited Company
## **STATEMENT OF FINANCIAL ACTIVITIES**
(INCLUDING THE INCOME & EXPENDITURE ACCOUNT)
For the year ended 31 March 2021
|**Operating Profit / (loss)**
4
**Profit / (loss) on ordinary**
**activities before taxation**
Tax on profit on ordinary activities
**Profit / (loss) for the financial**
**year**
Turnover
Cost of sales
Notes
Administrative expenses
**Gross profit**
Interest receivable and other income|**Total**
**2021**
£
320,793
( 184,329 )
136,464
( 136,526 )
( 62 )
62
-
-
-|Total
2020
£|
|---|---|---|
|||353,352
( 228,883 )|
|||124,469
( 125,026 )|
|||( 557 )|
|||557|
|||-
-|
|||-|
3
## **MILLERS DENE DAY CARE CIC**
A Private Limited Company
Company Registration Number 07233877
## **BALANCE SHEET**
As at 31 March 2021
|Notes
**Current assets**
Debtors
5
Cash at bank and in hand
**_Total current assets_**
**Creditors: amounts falling due**
**within one year**
6
**_Net current assets_**
**_Total assets less current liabilities_**
**_Total net assets or liabilities_**
**Funds**
Profit and loss
8|**£**
9,363
13,407
**22,770**
**( 22,770 )**|**Total**
**2021**
**£**
-
**-**
**-**
-
**-**|**£**
3,620
18,098
**21,718**
**( 21,718 )**|**Total**
**2020**
**£**|
|---|---|---|---|---|
|||||-|
|||||**-**|
|||||**-**|
|||||-|
|||||**-**|
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
## Director's responsibilities:
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These Financial Statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the Board on:
These financial statements were approved by the Board on: 11/11/2021 and are signed on its behalf by: Samantha Sampson Director
4
## **MILLERS DENE DAY CARE CIC**
A Private Limited Company
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2021
## 1 **Accounting Policies**
## **Company information**
Millers Dene Day Care CIC is a private company limited by guarantee without share capital, Community Interest Company (CIC). The registered office is Walkergate Early Years Centre, Shields Road, Newcastle Upon Tyne, Tyne and Wear, NE6 4XW.
## 1.1 **Accounting convention**
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared on historical cost convention. The principle accounting policies adopted are set out below.
## 1.2 **Going concern**
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Directors have revised their forecasts to take into account the impact on the business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts
## 1.3 **Turnover**
Turnover represents amounts receivable for goods and services gross of VAT. Revenue is recognised in the accounts when invoiced unless it relates to future accounting periods, in which case it is deferred and included in creditors.
## 1.4 **Work in progress**
Work in progress is recognised based on the time allocated to a job but not yet invoiced.
## 1.5 **Cash and cash equivalents**
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.
## 1.6 **Revenue recognition**
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and gross of VAT.
Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on the completion of the work carried out); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
5
## **MILLERS DENE DAY CARE CIC**
A Private Limited Company
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2021
## 1.7 **Exemption from preparing a cash flow statement**
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Connected Voice which can be obtained from Charity Commission. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
- Disclosures in respect of each class of share capital have not been presented.
- No cash flow statement has been presented for the company.
- Disclosures in respect of financial instruments have not been presented.
- Disclosures in respect of share-based payments have not been presented.
- No disclosure has been given for the aggregate remuneration of key management personnel.
## 1.8 **Financial instruments**
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and section 12 ‘Other Financial Issues’ of FRS102 to all of its financial instruments.
Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
6
## **MILLERS DENE DAY CARE CIC**
A Private Limited Company
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2021
## 2 **Statutory information**
Millers Dene Day Care CICis a private company limited by guarantee without share capital, Community Interest Company (CIC), domiciled in England and Wales, company registration number 07233877. The registered office is Walkergate Early Years Centre, Shields Road, Newcastle upon Tyne, NE6 4XW.
|3
**Directors**
Directors salaries
Directors National Insurance
Directors Pension|**2021**
**£**
49,956
4,467
1,118
55,541|**2020**
**£**|
|---|---|---|
|||49,043
4,436
1,113|
|||54,592|
## 4 **Taxation on ordinary activities**
## **Reconciliation of tax expense**
The tax assessed on the profit on ordinary activities for the year is the same as the standard rate of corporation tax in the UK of 19%.
|Profit / (loss) on ordinary activities before taxation
Profit / (loss) on ordinary activities by rate of tax
**Debtors and prepayments (receivable within 1 year)**
Trade debtors
Other debtors|**2021**
**£**
-
-
**2021**
**£**
1,188
8,175
9,363|**2020**
**£**|
|---|---|---|
|||-|
|||-|
|||**2020**
**£**|
|||3,620
-|
|||3,620|
## 5 **Debtors and prepayments (receivable within 1 year)**
## 6 **Creditors and accruals (payable within 1 year)**
|Trade creditors
Other creditors
Accruals
Social security and pension|**2021**
**£**
10,820
10,398
1,548
4
22,770|**2020**
**£**|
|---|---|---|
|||8,414
10,813
1,548
943|
|||21,718|
## 7 **Reserves**
Profit and loss account - This reserve records retained earnings and accumulated losses.
7
## **MILLERS DENE DAY CARE CIC**
A Private Limited Company
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2021
## 8 **Profit and loss account**
|**Profit and loss account**|||
|---|---|---|
|Balance brought forward
Profit / (loss) for the year
Balance carried forward|**2021**
**£**
-
-
-|**2020**
**£**|
|||-
-|
|||-|
## 9 **Related party transactions and control relationships**
The charitable assets of Millers Dene Day Care are protected by way of a charitable trust managed by Millers Dene Day Care CIC as a charitable trustee. Millers Dene Day Care Trust received a charge from Millers Dene Day Care CIC of £47,702 for the year relating to a contribution to childrens activities/ resources, fixed assets and an apportionment of staff salaries..
## 10 **Employee numbers**
The average number of persons employed by the company during the year amounted to 19 (2020: 19).
8
## **MILLERS DENE DAY CARE CIC**
A Private Limited Company
## **DETAILED PROFIT AND LOSS**
For the year ended 31 March 2021
|**Income**
Business interuption funding
HMRC Job Retention Scheme
Insurance claims
Deprivation funding / pupil premium
**Expenditure**
**Cost of Sales**
**Gross profit**
**Administrative**
**Operating Surplus**
**Balance on ordinary actives before taxation**
Tax on balance on ordinary activities
**Balance on ordinary actives after taxation**
**Balance for the financial year**
Accountancy
Professional fees
Office equipment
Maintenance
Premises expenses
Cleaning and hygiene
Caretaking services
Security and insurance
Bank charges and interest
Management and admin salaries
Rent rates
Heat, light and power
Travelling
Print, stationery and telephone
Community event / play-scheme costs
Other salary costs
2 Year Funding
3 Year Funding
Special Educational Needs
Income from raffles / fundraising
Nursery meal preparation
Parent fees
Other income
Bank interest
Project salaries
Other expenses
Publications and subscriptions
Children's activity / resources costs|**2021**
**£**
57,101
79,664
6,689
212
83,693
25,000
56,997
6,521
852
4,064
62
320,855
174,637
935
2,352
56
-
31
6,318
184,329
136,526
80,262
793
3,009
-
11,403
1,281
448
6,455
8,358
12,510
3,605
336
1,548
6,518
136,526
-
-
-
-
-|**2020**
**£**|
|---|---|---|
|||80,535
35,158
5,890
1,324
223,981
-
-
-
2,748
3,716
557|
|||353,909
195,721
14,730
2,612
140
-
259
15,421|
|||228,883|
|||125,026|
|||79,681
2,101
5,813
109
8,639
206
887
4,484
4,163
9,817
5,033
500
1,470
2,123|
|||125,026|
|||-|
|||-
-|
|||-|
|||-|
This page does not form part of the statutory financial statements.
9
## **MILLERS DENE DAY CARE CIC**
## **A PRIVATE LIMITED COMPANY**
## **ACCOUNTANTS' REPORT**
For the year ended 31 March 2021
As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2021 set out on pages 3 to 10 and you consider that the company is exempt from audit.
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
Connected Voice Buiness Services LTD Higham House Higham Place Newcastle upon Tyne NE1 8AF 11/11/2021
This page does not form part of the statutory financial statements.