**REGISTERED COMPANY NUMBER: 07180968 (England and Wales) REGISTERED CHARITY NUMBER: 1137968** **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **FOR** ## **WAKOOS CENTRE4CHILDREN LIMITED** Galloways Accounting Atlas Chambers 33 West Street Brighton East Sussex BN1 2RE **WAKOOS CENTRE4CHILDREN LIMITED** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|6| |**Independent Examiner's Report**||7|| |**Statement of Financial Activities**||8|| |**Balance Sheet**||9|| |**Cash Flow Statement**||10|| |**Notes to the Financial Statements**|11|to|18| |**Detailed Statement of Financial Activities**|19|to|20| **WAKOOS CENTRE4CHILDREN LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** Wakoos is a not-for-profit organisation which invests in staff and resources to benefit the delivery of quality childcare. It aims to make its childcare offering more affordable and flexible, in comparison with other local commercial childcare providers. The charity, its staff and volunteer trustees dedicate themselves to providing quality childcare and look to continually improve on the provision whenever possible. Surveys are also sent out to staff and parents/carers during the year to help gain feedback and achieve this objective. Alongside providing quality childcare in accordance with the EYFS statutory framework, the nursery also offers practical early years support and advice to families where possible. ## **Our main aims:** - Encourage the emotional, social, physical, creative and intellectual development of children. - Encourage positive attitudes, and develop confidence and self - esteem. - Provide an atmosphere that stimulates interests and each child's imagination. - Help parents achieve a work-life balance, by offering flexible, affordable hours and by accepting Nursery Vouchers, the Childcare Account scheme and assisting with providing information for Working Family Tax Credits and 2 and 3 yr old funding. - Employ motivated and dedicated staff who are either fully qualified nursery practitioners or are working towards childcare qualifications. **Diversity in Childcare** - Wakoos is fully inclusive and our childcare provision is available to all children whatever their race, culture, religion, means or ability. We accept children who are eligible for both 2 and 3-year-old universal and extended funding and works in partnership with Integrated Prevention and Earliest Help, accepting referrals for children who may be vulnerable learners. **Partnerships** - To help achieve our charitable aims, we have partnerships with other front line agencies including health visitors, educational psychologists, community paediatricians, social services and speech and language therapists. Our staff prepare individual support plans for children with special educational needs and provide support to parents whose children are going through the statutory process for Education, Health and Care Assessments/Plans and Early Help Assessments. Wakoos also works in partnership with West Sussex County Council's Early Childhood Services, benefiting from the support of an Early Years Advisor. Additionally, we work with the local primary schools to reflect their teaching methods and ensure a smooth transition for children. Wakoos offers work experience to students, this includes trainees from local colleges and schools; Government-funded training provision (Babcock and Brighter Horizons); and also supports students studying for higher qualifications such as the EYT. **Forest School** - Known as "Wakoos in the Woods." One staff member is qualified to lead Forest School sessions across both our sites. This provides a unique selling point for Wakoos as well as another enriching dimension for our children. Outdoor learning is frequently proven to provide positive outcomes to help children learn. ## **Significant activities/milestones** Last inspection by Ofsted in Billingshurst (Good) - March 2018 Last inspection by Ofsted in Petworth (Outstanding) - August 2018 Successfully returned to a more normal operation post restrictions of Covid pandemic New staff members recruited to Billingshurst management team during 2021 Introduction of new EYFS statutory guidance and curriculum changes - September 2021 Refurbishment of outdoor flooring completed at Billingshurst nursery - December 2021 Page 1 **WAKOOS CENTRE4CHILDREN LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **OBJECTIVES AND ACTIVITIES** ## **Public benefit** The main activities of the charity are undertaken to further the purposes for the public benefit. The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The Billingshurst nursery has been running highly successfully with places full until 2023, with many enquiries and an active waiting list. ## **Other achievements include:** - Excellent transition for children attending local primary schools - A high percentage of children meeting age related expectations - Supporting vulnerable children and families within the setting through partnership working - Staff have attended training to upskill themselves and deliver high quality care and education. Some staff have achieved higher level qualifications through university degrees, which we have welcomed and supported. - Continuing to receive referrals from outside agencies to support vulnerable families - Continuing to benefit from high demand for places with no marketing required at the Billingshurst site ## **FINANCIAL REVIEW** ## **Reserves** In line with guidance issued by the Charity Commission, the Trustees have reviewed the charity's needs for reserves. The balance of reserves in the general account stands at £297,775. The Trustees agree that a surplus must be reserved for any maintenance costs and if at any time redundancies are required. ## **Financial Review** - The National Living Wage increase of 19p per hour as from April 2021 has increased our annual salary for the financial year, including the associated increased pension contributions. - A fee increase was introduced in April 2021 to help support the increased staffing costs. - Two local grant schemes were successfully used to help fund the cost of refurbishing the Billingshurst outdoor garden area flooring. This financial year has once again been challenging for Wakoos as the year started off with further Covid restrictions and associated isolating of staff. With the new EYFS curriculum and a new Nursery Manager & Deputy Manager joining the Billingshurst management team at the start of the year, additional staff time had to be spent completing job handovers, inductions and training. We continue to encourage active parent participation, especially through fundraising. We successfully restarted some fundraising events during 2021/22 and look forward to being able to hold more events going forward, now that Covid restrictions have eased. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is a company limited by guarantee having been incorporated on 6 March 2010. It is also a registered charity (number 1137968), and is governed by its Memorandum and Articles of Association dated 6 March 2010. Page 2 **WAKOOS CENTRE4CHILDREN LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Recruitment and appointment of new trustees** The Wakoos Committee of Trustees is currently made up of seven trustees, three of whom are elected to hold specific roles within the committee. The trustees are all volunteers, often parents from local families who use their local and professional knowledge for the benefit of the setting. Their names are recorded on the Committee Register and are presented at the Annual General Meeting (AGM) of the charity, which normally takes place in November. At each AGM, the three elected roles are voted in for the following year. The committee often advertises for new trustees and any new or prospective trustees are welcomed at the committee meetings to find out what being a trustee of Wakoos entails. Should a new member wish to join they will receive an induction from the Chairperson once they have completed the checks and regulations required by Ofsted. All trustees also require an enhanced DBS check. Trustees will receive a Committee Welcome Pack and receive support and guidance from the established trustees. The Trustees along with the Wakoos nursery management team are responsible for directing and controlling, running and operating the charity on a day to day basis. The trustees operate on a voluntary basis and therefore no remuneration or pay has been provided for their time. The Trustees volunteer their time freely and all expenses such as travel and DBS checks have been disclosed in the accounts. The pay of the nursery management team and other staff is reviewed by the Trustees annually in April, which is usually in line with any increase in fees. Pay for all employees is also benchmarked against other similar organisations in the locality as part of the annual pay review. Page 3 **WAKOOS CENTRE4CHILDREN LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure** Wakoos Centre4Children Ltd. operates across two leased sites - in rural West Sussex. 1) Billingshurst 2) Petworth ## **Organisational structure - Billingshurst** Wakoos Billingshurst is open Monday to Friday 7.30-18.00 for 51 weeks of the year. The nursery is approved to provide places for up to 60 children as well as offering an additional 40 places for the After School Club and Breakfast Club. The nursery is based in the Billingshurst Children and Family Centre building, using two rooms for the following age groups: 3 months to 24 months and 2 to 5 years. The two rooms are further set up into 'workshop' areas. We encourage free flow within the nursery so that the children can independently access and explore all of the resources, equipment and also the outside areas. There are two outside play areas for the different age groups: an area for the children 3-24 months; and a larger open plan area for children aged 2 to 5 years. The larger outdoor area was refreshed in December 2021, as we invested in a new rubberised soft flooring to replace the existing ageing degraded surface. Two local grant schemes were successfully applied for in order to help cover the costs for this refurbishment. The outdoor areas consist of a covered area (can be accessed in all weathers), climbing play equipment, a mud kitchen, sandpit and some areas with willow and natural vegetation. Children enjoy digging, splashing in puddles, developing their imaginations and improving their gross motor skills. As well as the main day nursery, Wakoos runs a Breakfast and After School Club for reception-age children up until the age of 11. We use a separate room for this club with a dedicated outside enclosed space with a range of play equipment for the children to play and learn. We have an additional site for our Afterschool Club at the Women's Hall on the Billingshurst High Street for children over 7, benefitting from an indoor and outdoor space to provide creative opportunities and the learning of new skills. Wakoos also uses the Women's Hall to run a holiday club with a capacity of 30 children per day. A dedicated team of staff is assigned to the holiday club which engage the children in a full range of activities such as art and craft, sports and trips within the local area. ## **Staff Breakdown: -** **----- Start of picture text -----**
Level 6 Practitioner 2
Level 5 Practitioner 0
Level 4 Practitioner 1
Level 3 early years practitioner 10
Level 2 early years practitioner 4 (1 working towards a level 3 qualification)
Unqualified Staff 12
Support staff: -
Kitchen staff 2
Bank staff 1
Cleaner 2
Total 34
**----- End of picture text -----**
## **Organisational structure - Petworth** Wakoos Petworth is open Monday to Friday 07.30-18.00. The nursery is approved to provide places for up to 65 children aged between 3 months and 11 years including an After School Club and Breakfast Club provision. It is open 51 weeks of the year and is located on the site of the Petworth Primary School. We work closely with the local primary school and the majority of the children attending this setting will feed into Petworth Primary School. As at Billingshurst, the children are divided across 2 rooms depending on their age. There is a lovely garden area with outdoor play equipment, a sand pit and we also have access to the primary school outside area. We have a separate room with its own facilities for the Breakfast Club and After School Club which is adjacent to the outside garden area. We are a one storey building which is fully accessible for disabled users. |Staff Breakdown: -
Level 5
Level 3|1
9| |---|---| |Level 2|4| |Unqualified|1 (working towards qualification)| |Support staff: -|| |Kitchen staff|1| Page 4 **WAKOOS CENTRE4CHILDREN LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** Bank staff Level 3 1 Cleaner 1 Total 18 Totalling 52 staff across both sites. Wakoos follows the Ofsted Safer Recruiting policy. All staff have attended the mandatory training within their first 6 months of employment or have an in date qualification and good understanding of the mandatory training. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. ## **The current risks identified that may affect the finances of the charity going forward are:** - The possibility of the return of Covid restrictions limiting the services we can offer. - Recruitment is becoming difficult and there currently is an industry wide lack of qualified staff. - The government funding provision for 2 & 3 yr olds is very low and doesn't fully cover the cost of providing those hours. - Wakoos is now (as of December 2021) the sole occupier of the Billingshurst Children and Family Centre Building. The future leasing and possibly maintenance costs of the building may therefore increase. - An increase of 59p per hour in the National Living Wage will apply from April 2022 which will further increase our salary costs going forward. ## **To help mitigate or limit the impact of these risks:** - Trustees will work closely with the management teams to review any further government Covid guidelines and their impact. - We are exploring additional ways of advertising, recruiting staff and improving staff retention. - We are continually applying pressure to West Sussex County Council (who provide our building lease) in order to - resolve outstanding maintenance issues before any future lease changes are agreed. - We will continue to review staff salaries each April and increase our childcare fees if needed. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 07180968 (England and Wales) ## **Registered Charity number** 1137968 ## **Registered office** Station Road Billingshurst West Sussex RH14 9RY ## **Trustees** S G Tarr J Brown H Cooke (resigned 20.9.22) H M A Colligan E L Cummings (resigned 21.6.21) C Lambkin (resigned 1.12.22) H Ramiz V J Worsfold (appointed 29.7.22) S A Robinson (appointed 21.6.21) E J Denchfield (appointed 1.12.22) ## **Independent Examiner** Galloways Accounting Atlas Chambers 33 West Street Brighton East Sussex BN1 2RE Page 5 **WAKOOS CENTRE4CHILDREN LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Banker** Barclays Bank plc 2 Carfax Horsham RH12 1DN ## **SUMMARY** I would like to thank all our staff who have once again worked exceptionally hard to ensure Wakoos continues to provide excellent childcare as we recovered from the pandemic. We also thank our Trustees for assisting the management teams and who have the well-being of Wakoos at heart. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on ............................................. and signed on its behalf by: ........................................................................ J Brown - Trustee Page 6 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WAKOOS CENTRE4CHILDREN LIMITED** ## **Independent examiner's report to the trustees of Wakoos Centre4Children Limited ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022. ## **Responsibilities and basis of report** As the charity's 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 Act'). 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 respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. ## **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 confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. 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 fair view which is not a matter considered as part of an independent examination; or 4. 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 (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection 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. C S Young BA FCA Institute of Chartered Accountants in England and Wales Galloways Accounting Atlas Chambers 33 West Street Brighton East Sussex BN1 2RE Date: ............................................. Page 7 ## **WAKOOS CENTRE4CHILDREN LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022** **----- Start of picture text -----**
2022 2021
Unrestricted Restricted Total Total
fund funds funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 3 - 1,250 1,250 2,220
Charitable activities 6
Nursery, after-school clubs and holiday clubs 657,068 292,091 949,159 692,182
Other trading activities 4 9,394 - 9,394 3,967
Investment income 5 49 - 49 98
Other income 7 - - - 47,368
Total 666,511 293,341 959,852 745,835
EXPENDITURE ON
Charitable activities 8
Nursery, after-school clubs and holiday clubs 601,507 293,341 894,848 759,048
-
NET INCOME/(EXPENDITURE) 65,004 65,004 (13,213)
RECONCILIATION OF FUNDS
Total funds brought forward 232,771 - 232,771 245,984
TOTAL FUNDS CARRIED FORWARD 297,775 - 297,775 232,771
**----- End of picture text -----**
The notes form part of these financial statements Page 8 ## **WAKOOS CENTRE4CHILDREN LIMITED** ## **BALANCE SHEET 31 MARCH 2022** **----- Start of picture text -----**
2022 2021
Unrestricted Restricted Total Total
fund funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 14 29,897 - 29,897 31,162
CURRENT ASSETS
Debtors 15 75,048 - 75,048 31,826
Cash at bank and in hand 234,804 - 234,804 220,843
309,852 - 309,852 252,669
CREDITORS
Amounts falling due within one year 16 (41,974) - (41,974) (51,060)
NET CURRENT ASSETS 267,878 - 267,878 201,609
TOTAL ASSETS LESS CURRENT LIABILITIES 297,775 - 297,775 232,771
NET ASSETS 297,775 - 297,775 232,771
FUNDS 18
Unrestricted funds 297,775 232,771
TOTAL FUNDS 297,775 232,771
**----- End of picture text -----**
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006. - The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus 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 financial statements, so far as applicable to the charitable company. 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 Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. J Brown - Trustee The notes form part of these financial statements Page 9 ## **WAKOOS CENTRE4CHILDREN LIMITED** ## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022** **----- Start of picture text -----**
2022 2021
Notes £ £
Cash flows from operating activities
Cash generated from operations 21 16,234 58,448
Net cash provided by operating activities 16,234 58,448
Cash flows from investing activities
Purchase of tangible fixed assets (2,322) (1,150)
Interest received 49 98
Net cash used in investing activities (2,273) (1,052)
Change in cash and cash equivalents in
the reporting period 13,961 57,396
Cash and cash equivalents at the
beginning of the reporting period 220,843 163,447
Cash and cash equivalents at the end of
the reporting period 234,804 220,843
**----- End of picture text -----**
The notes form part of these financial statements Page 10 **WAKOOS CENTRE4CHILDREN LIMITED** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **1. STATUTORY INFORMATION** Wakoos Centre4children Limited is a charitable company, limited by guarantee, registered in England and Wales. The address of the registered office is given in the charity information on page 5 of these financial statements. The nature of the charity's operations and principal activities are the provision of childcare facilities to enhance the development and education of children. ## **2. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** 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 Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Going concern** The trustees have not identified any events or conditions that are expected to affect the charity's ability to continue as a going concern for the foreseeable future and the financial statements are prepared on this basis. ## **Income** All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. ## Donations For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. ## Nursery fees Fee income for provision of nursery services is included in incoming resources when the service has been provided, or, if amounts invoiced relate to services both before and after the period end, then in proportion to services provided, with the balance being deferred. ## Government grants The charity receives government grants in respect of provision of childcare and education. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. ## Trading activities Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. ## **Expenditure** Liabilities are recognised 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. All resources are inclusive of irrecoverable VAT. ## **Allocation and apportionment of costs** Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Page 11 continued... **WAKOOS CENTRE4CHILDREN LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **2. ACCOUNTING POLICIES - continued** ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. **----- Start of picture text -----**
||| |---|---| |Improvements to property|- Straight line over 20 years| |Nursery equipment|- 33% on reducing balance| |Computer equipment|- 25% on cost| **----- End of picture text -----**
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted 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 purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. The cost of raising and administering such funds are charged against the specific fund. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Debtors and creditors due within one year** Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. ## **3. DONATIONS AND LEGACIES** ## **4.** **----- Start of picture text -----**
|||| |---|---|---| |2022|2021| |£|£| |Gifts and grants|1,250|2,220| |OTHER TRADING ACTIVITIES| |2022|2021| |£|£| |Fundraising events|1,114|3,967| |-| |Apprenticeship scheme funding|8,280| |9,394|3,967| **----- End of picture text -----**
Page 12 continued... **WAKOOS CENTRE4CHILDREN LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **5. INVESTMENT INCOME** **----- Start of picture text -----**
||||| |---|---|---|---| |2022|2021| |£|£| |Deposit account interest|49|98| |6.|INCOME FROM CHARITABLE ACTIVITIES| |2022|2021| |Activity|£|£| |Fee income from Nursery,| |after school club and holiday| |club|Nursery, after-school clubs and holiday clubs|657,068|416,367| |Grants|Nursery, after-school clubs and holiday clubs|292,091|275,815| |949,159|692,182| |The grants are government grants for the following:| |2022|2021| |£|£| |3 year olds and over|276,255|263,159| |2 year olds|15,836|10,479| |Inclusion fund|-|677| |Other|-|1,500| |292,091|266,219| |7.|OTHER INCOME| |2022|2021| |£|£| |JRS grant|-|47,368| **----- End of picture text -----**
Last year other income includes Coronavirus Job Retention Scheme grants from the government receivable in the prior year, this grant was not received in the current year. ## **8. CHARITABLE ACTIVITIES COSTS** **----- Start of picture text -----**
||||| |---|---|---|---| |Support| |Direct|costs (see| |Costs|note 9)|Totals| |£|£|£| |Nursery, after-school clubs and holiday| |clubs|858,266|36,582|894,848| **----- End of picture text -----**
Page 13 continued... **WAKOOS CENTRE4CHILDREN LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **9. SUPPORT COSTS** **----- Start of picture text -----**
|||||| |---|---|---|---|---| |Governance| |Management|Other|costs|Totals| |£|£|£|£| |Nursery, after-school clubs and holiday clubs|28,221|350|8,011|36,582| **----- End of picture text -----**
## **10. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): **----- Start of picture text -----**
|||| |---|---|---| |2022|2021| |£|£| |Depreciation - owned assets|3,587|3,461| |Other operating leases|34,530|30,661| |Independent examiner's remuneration - independent examination|1,000|1,000| |Independent examiner's remuneration - other services|2,600|2,300| **----- End of picture text -----**
## **11. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021. ## **12. STAFF COSTS** **----- Start of picture text -----**
|||| |---|---|---| |2022|2021| |£|£| |Wages and salaries|702,962|617,095| |Social security costs|25,831|25,448| |Other pension costs|11,968|10,980| |740,761|653,523| **----- End of picture text -----**
The average monthly number of employees during the year was as follows: **----- Start of picture text -----**
|||| |---|---|---| |2022|2021| |Level 6 early years practitioner|2|1| |Level 5 early years practitioner|1|3| |Level 4 early years practitioner|1|1| |Level 3 early years practitioner|19|18| |Level 2 or trainee practitioner|8|7| |Unqualified after-school staff|13|15| |Bank staff|2|3| |Kitchen staff|3|2| |Cleaners|3|3| |52|53| **----- End of picture text -----**
No employees received emoluments in excess of £60,000. Page 14 continued... **WAKOOS CENTRE4CHILDREN LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** **----- Start of picture text -----**
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
-
Donations and legacies 2,220 2,220
Charitable activities
Nursery, after-school clubs and holiday clubs 489,031 203,151 692,182
-
Other trading activities 3,967 3,967
Investment income 98 - 98
Other income 47,368 - 47,368
Total 542,684 203,151 745,835
EXPENDITURE ON
Charitable activities
Nursery, after-school clubs and holiday clubs 555,897 203,151 759,048
-
NET INCOME/(EXPENDITURE) (13,213) (13,213)
RECONCILIATION OF FUNDS
-
Total funds brought forward 245,984 245,984
TOTAL FUNDS CARRIED FORWARD 232,771 - 232,771
14. TANGIBLE FIXED ASSETS
Improvements
to Nursery Computer
property equipment equipment Totals
£ £ £ £
COST
At 1 April 2021 53,200 53,538 5,790 112,528
Additions - - 2,322 2,322
-
Disposals (57) (11) (68)
At 31 March 2022 53,200 53,481 8,101 114,782
DEPRECIATION
At 1 April 2021 23,940 51,750 5,676 81,366
Charge for year 2,660 596 331 3,587
-
Eliminated on disposal (57) (11) (68)
At 31 March 2022 26,600 52,289 5,996 84,885
NET BOOK VALUE
At 31 March 2022 26,600 1,192 2,105 29,897
At 31 March 2021 29,260 1,788 114 31,162
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Page 15 continued... **WAKOOS CENTRE4CHILDREN LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade debtors
Prepayments and accrued income
**16.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Social security and other taxes
Other creditors
Fee deposits
Accrued expenses|**2022**
**£**
**68,710**
**6,338**
**75,048**
**2022**
**£**
**6,944**
**9,202**
**7,910**
**17,918**
**41,974**|2021
£
28,966
2,860
31,826
2021
£
6,622
19,553
6,740
18,145
51,060| |---|---|---| ## **17. LEASING AGREEMENTS** Minimum lease payments under non-cancellable operating leases fall due as follows: |Within one year
Between one and five years
**18.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Restricted
Flooring
**TOTAL FUNDS**|At 1.4.21
£
**232,771**
**232,771**
Incoming
resources
£
**666,511**
**292,091**
**1,250**
**293,341**
**959,852**|**2022**
2021
**£**
£
**6,284**
15,081
**-**
6,284
**6,284**
21,365
Net
movement
At
in funds
31.3.22
£
£
**65,004**
**297,775**
**65,004**
**297,775**
Resources
Movement
expended
in funds
£
£
**(601,507)**
**65,004**
**(292,091)**
**-**
**(1,250)**
**-**
**(293,341)**
**-**
**(894,848)**
**65,004**| |---|---|---| Page 16 continued... **WAKOOS CENTRE4CHILDREN LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **18. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |At 1.4.20
£
**Unrestricted funds**
General fund
245,984
**TOTAL FUNDS**
245,984
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
542,684
**Restricted funds**
Restricted
203,151
**TOTAL FUNDS**
745,835|Net
movement
At
in funds
31.3.21
£
£
(13,213)
232,771
(13,213)
232,771
Resources
Movement
expended
in funds
£
£
(555,897)
(13,213)
(203,151)
-
(759,048)
(13,213)| |---|---| Government grants are allocated to the restricted fund since they are restricted to the provision of places within the nursery for entitled children. The cost of care is allocated to the restricted fund up to the value of the grant. The flooring fund relates to refurbishment of outdoor flooring completed at Billingshurst nursery. The unrestricted fund is used to further the aims of the charity at the discretion of the trustees. ## **19. EMPLOYEE BENEFIT OBLIGATIONS** The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The charge to profit or loss in respect of defined contribution schemes was £11,968 (2021: £10,980). The entire pension cost is allocated to nursery fees since it relates to staff employed in running the nurseries. ## **20. RELATED PARTY DISCLOSURES** In the year ended 31 March 2022, amounts were received from Heather Ramiz of £3,989, (2021: £nil) for payment for their child to attend the nursery. Page 17 continued... **WAKOOS CENTRE4CHILDREN LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **21. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES** |**ACTIVITIES**||| |---|---|---| |**Net income/(expenditure) for the reporting period (as per the**
**Statement of Financial Activities)**
**Adjustments for:**
Depreciation charges
Interest received
(Increase)/decrease in debtors
(Decrease)/increase in creditors||**2022**
2021
**£**
£
**65,004**
(13,213)
**3,587**
3,461
**(49)**
(98)
**(43,222)**
38,645
**(9,086)**
29,653| |**Net cash provided by operations**||**16,234**
58,448| |**ANALYSIS OF CHANGES IN NET FUNDS**
**Net cash**
Cash at bank and in hand|At 1.4.21
£
**220,843**|Cash flow
**At 31.3.22**
£
**£**
**13,961**
**234,804**| ||**220,843**|**13,961**
**234,804**| |**Total**|**220,843**|**13,961**
**234,804**| **22.. ANALYSIS OF CHANGES IN NET FUNDS** Page 18 **WAKOOS CENTRE4CHILDREN LIMITED** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022** **----- Start of picture text -----**
2022 2021
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Gifts and grants 1,250 2,220
Other trading activities
Fundraising events 1,114 3,967
-
Apprenticeship scheme funding 8,280
9,394 3,967
Investment income
Deposit account interest 49 98
Charitable activities
Fee income from Nursery, after school club and
holiday club 657,068 416,367
Grants 292,091 275,815
949,159 692,182
Other income
JRS grant - 47,368
Total incoming resources 959,852 745,835
EXPENDITURE
Charitable activities
Wages 702,962 617,095
Social security 25,831 25,448
Pensions 11,968 10,980
Other operating leases 34,530 30,661
Rates and water 3,294 1,517
Light and heat 1,017 370
Sundries 621 4,026
Staff costs 13,544 7,745
Running costs 61,243 33,912
Improvements to property 2,660 2,660
Fixtures and fittings 596 729
858,266 735,143
Support costs
Management
Insurance 2,500 1,962
Advertising 54 -
Office costs 25,336 10,442
Computer equipment 331 72
28,221 12,476
Other
Bad debts - 3,611
Carried forward - 3,611
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This page does not form part of the statutory financial statements Page 19 **WAKOOS CENTRE4CHILDREN LIMITED** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022** **----- Start of picture text -----**
2022 2021
£ £
Other
Brought forward - 3,611
Bank charges 350 475
350 4,086
Governance costs
Accountancy fees 5,971 5,543
Legal fees 2,040 1,800
8,011 7,343
Total resources expended 894,848 759,048
Net income/(expenditure) 65,004 (13,213)
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This page does not form part of the statutory financial statements Page 20