Annual Trustees’ Report
Reporting Period: 1[st] April 2022 - 31[st] March 2023
Since our last report, we have lost both Jane Atkinson and Jane Dennison from our small team. Jane Atkinson retired due to ill health, and Jane Dennison moved on to a new role with another organisation. Both have been a great miss, but DDS is determined to carry as it has always, hopefully making Jane Atkinson proud of her legacy. We have Donna Balmer, Jane’s Daughter, working with us now. Donna has the same passion for DDS as her Mother.
DDS has valuable experience and ability in seeking out and bringing together people with hearing loss, encouraging them and their Families to accept this disability, and the changes it has made to their lives.
We are able to offer an unobtrusive lifeline to late Deafened Adults. It is a lifeline that has been built upon trust, respect, and confidentiality, with our expertise in deafened life changes.
Support is offered month on month. 1:1 support in the home, Lip Reading Support Groups, Cochlear Implant Support Groups, Dealing with Deafness Rehab Weeks, Tinnitus Support Groups, and 1:1 Crafts and Relaxations Support Groups, can be offered throughout County Durham and Darlington. These are kept small and friendly, to accommodate Deafened Adults.
1:1 work will always be paramount, identifying needs, and being there to support those who have become isolated and given up on their social lives.
Complimentary Therapies are also offered throughout the year. Sandra’s Day is very popular with the Members. Reflexology, Facials, Head Massage, Nail Treatments, and New-Age Kurling is offered throughout the day. As this is a social event for Members - lunch is provided, with tea and coffee offered throughout.
Pam and Donna have also been very busy and successful in gaining Personal Independence Allowance, Attendance Allowance Payments, and Blue Badges for deafened Members this year.
Dealing with Deafness is a Non-Residential Rehabilitation Course, which is open to people identified as struggling with their or their Partners/Family Members loss. We have learned that even people at the onset of hearing loss can gain huge benefit from attending the course, and giving support in the early stages of hearing loss can prevent mental health and family conflict problems before they begin.
On the course, we deliver topics that helped deafened people and their partners to understand, and to cope with the changes that have been made to their lives: how to deal with the anger, anxiety, fear, and frustration associated with severe or profound hearing loss.
Some Comments from Attendees:
Deaf people were asked how deafness has made them feel, and how it had changed their lives. Tears flowed but there was laughter too, from both the deaf and hearing people. Comments were:
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“I have no confidence. My social life has gone.”
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“People don’t understand - I’m deaf not stupid.”
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“I can’t go to appointments on my own, as I need my wife to hear.”
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“Sad and lonely, even though I have a good wife who is trying her best to help me.”
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“Lack of meaningful conversation.”
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“In everyday conversation, people keep everything to a minimum now.”
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“My Grandchildren - I can’t understand them.”
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“I avoid people. Even my family.”
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“I miss friendship, and general, everyday chat.”
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“We have no social life now.”
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“I feel angry, and like a burden to my family.”
No one leaves the course without Ongoing Support, whatever they require. Other Agencies are also contacted if needed by the Attendees.
The Trustees would like to thank the Staff and Volunteers of Durham Deafened Support. Their hard work and commitment, along with their passion for DDS will ensure that we will continue to thrive and provide Advice and Support to the Deafened Community.
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 2023
FOR WAKOOS CENTRE4CHILDREN LTD
Galloways Accounting Atlas Chambers 33 West Street Brighton East Sussex BN1 2RE
WAKOOS CENTRE4CHILDREN LTD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| 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 LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
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 2023. 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).
WAKOOS Centre4Children Ltd. is a charitable company that operates across two leased sites, both in rural West Sussex.
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1) Billingshurst (located in the Children and Family Centre building)
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2) Petworth (located on the Petworth Primary School site)
Each site is registered with OfSTED to run a breakfast club, day nursery, afterschool club and holiday club; providing flexible, affordable childcare for children aged 3 months to 11 years old.
OBJECTIVES AND ACTIVITIES
Objectives and aims
WAKOOS Centre4Children Ltd. (Wakoos) is a not-for-profit organisation which invests in staff and resources to benefit the delivery of quality childcare for the local area. We aim to offer more affordable and flexible childcare in comparison with other local commercial childcare providers.
The charity, its staff and trustees consider Wakoos to be a vital part of the local community and are committed to both continuing and improving our childcare provision whenever possible. Surveys are also sent out to staff and parents/carers to gain feedback and help achieve this objective. We want Wakoos to be an enjoyable, rewarding place to work and as well as providing a vital childcare service, in accordance with the EYFS statutory framework, our nurseries also continue to offer practical early years support and advice to families wherever possible.
Our main aims:
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Encourage the emotional, social, physical, creative and intellectual development of children.
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Encourage positive attitudes, and develop confidence and self - esteem.
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Provide an atmosphere that stimulates interests and each child's imagination.
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Help parents achieve a work-life balance, by offering flexible, affordable hours, helping reduce fees where possible 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.
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Employ motivated and dedicated staff who are either fully qualified nursery practitioners or support them in working towards childcare qualifications.
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Create a friendly, supportive, enjoyable workplace for our employees to care for children.
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 work 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 of our staff members is qualified to lead Forest School sessions. We offer these sessions throughout the week on a bookable, termly basis. They offer an enriching opportunity for children as outdoor learning is frequently proven to enrich children's lives and provide positive outcomes in helping children learn.
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WAKOOS CENTRE4CHILDREN LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
OBJECTIVES AND ACTIVITIES
Significant activities/milestones
Ofsted in Billingshurst (Good) - October 2022
Ofsted in Petworth (Requires Improvement) - March 2023
New nursery managers and deputies at both sites - December 2022
Petworth site lease extended for another 3 years - September 2022
Billingshurst nursery was decorated to refresh the interior - December 2022
New resources purchased to refresh equipment at both sites - January 2023
New picket fence constructed to improve in Petworth outdoor area - March 2023
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
Both our nursery sites continue to run successfully post Covid restrictions, with many new enquiries and active, long waiting lists. Many children and their families benefit greatly from the flexible, affordable childcare that we provide. There are very few alternative providers in the local area that offer the equivalent year-round care that we deliver, and we are the sole provider of out-of-school wrap around care for our local primary schools. We continue to invest surplus funds into staff training and refreshing the nursery environment, equipment and resources in order to continue providing this vital service in the community.
Other notable achievements in meeting our charity's objectives include:
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Successful fundraising events throughout the year at both sites; to raise additional funds and engage many families and the local community.
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Continued excellent transition for young children moving on to our local primary schools.
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A high percentage of children continue to meet and exceed age related expectations.
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We support vulnerable children and families within the setting through partnership working .
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Staff have attended training sessions, including a whole day cross-site training day (held on an INSET day). This has
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been well received to improve skills and morale.
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Continuing to receive referrals from outside agencies to support vulnerable families.
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Continuing to benefit from high demand for places with no marketing required at the Billingshurst site.
One of the main challenges presented to the business during this financial year has been related to staffing and HR. Recruitment has been difficult and staffing levels have been tight at times which has led to staff being stretched with periods of decreased morale. One of our nursery managers needed a long period of time off during 2022, which led to other staff time being spent on completing the usual tasks of this role. In December 2022, new management teams were introduced at both sites which will naturally take a while to settle in and to complete full training of new members of the team. Increased sharing of knowledge, training and cooperation between our two sites should help minimise this impact and ultimately improve morale. The new Petworth nursery manager also has an action plan in place to act on the recent OfSTED 'Requires Improvement' rating.
FINANCIAL REVIEW
Financial Overview
Wakoos has had another successful financial year and the charity is in good standing to continue its objectives and provide childcare services to the local community going forward. The following points are the main changes that have affected our finances during this financial year:
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The National Living Wage increase of 59p per hour as from April 2022 has increased our staff salaries. However, due to recruitment being difficult, staffing levels are currently lower than have been budgeted for and the impact of this increased cost is yet to be fully realised.
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A fee increase was introduced in April 2022 to help us support our forecasted increase in salary costs. However, this increased income may lead to a temporary additional surplus due to our recruitment difficulties and therefore reduced staff levels at the present time.
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WAKOOS CENTRE4CHILDREN LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
FINANCIAL REVIEW
Reserves
In line with guidance issued by the Charity Commission, the Trustees regularly review the Charity's need for reserves. The Trustees have a policy for keeping a reserve amount which may be needed for any unexpected site maintenance costs and the costs incurred, including redundancies, should the Charity need to be wound down. The current balance of reserves in the general account stands at £274,448.
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.
Recruitment and appointment of new trustees
WAKOOS Centre4Children Ltd. is a Charitable Company Limited by Guarantee, with an Articles of Association as its governing document. Wakoos is led by a committee of trustees who have regard to The Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant.
The committee of trustees is currently made up of eight members, three of whom are elected to hold specific roles (Chair, Treasurer, Secretary). Their names are recorded on the Committee Register and are presented at the Charity's Annual General Meeting (AGM), which normally takes place each November. At each AGM, the three elected roles are voted on for the following year.
The trustees are all volunteers, mostly parents from local families who use their local and professional knowledge for the benefit of the Charity. The committee continues to advertise regularly for the recruitment of new trustees. As most of our trustees are parents of children attending our nurseries, we usually have a relatively high turnover as these children grow older and move on to school. During the financial year 2022/23 we appointed two new trustees, and two stood down. We provide all new members with a 'Committee Welcome Pack' and an induction from the Chairperson, including a familiarity with the Charity's procedures, documents and confidentiality requirements. All trustees are required to have an enhanced DBS check and are subject to additional checks as required by OfSTED.
The Trustees meet with the Wakoos nursery management team most months in order to assist with decision making and direct the business. The nursery management team are employed by the Charity to operate the nurseries and manage the day to day running of the business. The management team consists of a Business/Finance manager and a Nursery Manager for each site (along with deputies).
The trustees all 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 allowable expenses such as travel and DBS checks have been disclosed in the accounts where applicable.
The pay of the nursery management team and other staff is reviewed by the Trustees annually each April, which is usually in line with any increase in our nursery fees. Pay for all employees is also benchmarked against other similar organisations in the locality as part of the annual pay review.
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WAKOOS CENTRE4CHILDREN LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
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 07.30-18.00 for 51 weeks a year.
The nursery is approved to provide places for up to 60 children as well as offering an additional 40 places for an After School Club and Breakfast Club. The building was purpose built for childcare facilities and has two main rooms for different age groups (3mths to 2years and 2years to 5years). 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 different resources, and also the outside areas. There are separate outside garden areas for each room, with the older age group having access to the larger, open plan space with fixed play equipment including climbing frames, sandpit, mud kitchen and some natural vegetative areas. This greatly enhances their learning environment allowing imaginative play and gross motor skill development.
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.
We use an additional capacity site for some of our older Afterschool Club children and also a Holiday Club during school holidays. This also benefits from an indoor and outdoor space to provide creative opportunities and the learning of new skills. Staff at the clubs engage children with a full range of activities such as art and craft, sports and trips within the local area.
Billingshurst Staff Breakdown: -
| Billingshurst Staff Breakdown: - | |
|---|---|
| Level 6 Practitioner | 1 |
| Level 5 Practitioner | 2 |
| Level 4 Practitioner | 1 |
| Level 3 early years practitioner | 8 |
| Level 2 early years practitioner | 2 |
| Unqualified Staff | 8 (3 working towards qualification) |
| Support staff: - | |
| Kitchen staff | 2 |
| Bank staff | 3 |
| Cleaner | 2 |
| Total | 29 |
Organisational structure - Petworth
Wakoos Petworth is open Monday to Friday 07.30-18.00 for 51 weeks a year.
The nursery is approved to provide places for a total of up to 65 children aged between 3 months and 11 years. This includes an After School Club and Breakfast Club provision. We work closely with the adjacent Petworth Primary School and the majority of the children attending our setting will feed into this school. Children here are also 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 some of 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.
Petworth Staff Breakdown: -
| Petworth Staff Breakdown: - | |
|---|---|
| Level 5 | 1 |
| Level 3 | 9 |
| Level 2 | 3 |
| Unqualified | 2 (2 working towards qualification) |
| Support staff: - | |
| Kitchen staff | 1 |
| Bank staff Level 3 | 1 |
| Cleaner | 1 |
| Total | 18 |
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WAKOOS CENTRE4CHILDREN LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Totalling 47 staff across both sites. Occasionally staff are temporarily transferred between sites to provide necessary cover. This is allowed for in their contract of employment.
Wakoos follows the OfSTED Safer Recruiting policy. All staff have DBS checks and have attended the mandatory training within their first 6 months of employment or have a current 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:
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The possibility of the return of Covid restrictions limiting the services we can offer.
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Recruitment is becoming difficult and there currently is an industry wide lack of qualified staff.
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The government funding provision for 2 & 3 yr olds is very low and doesn't fully cover the cost of providing those hours. - 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:
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We are exploring additional ways of advertising, recruiting staff and improving staff retention.
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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.
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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 C Lambkin (resigned 1.12.22) H Ramiz V J Worsfold Administrator (appointed 29.7.22) S A Robinson E J Denchfield (appointed 1.12.22) N Francis (appointed 12.4.23)
Independent Examiner
Galloways Accounting Atlas Chambers 33 West Street Brighton East Sussex BN1 2RE
Banker
Barclays Bank plc 2 Carfax Horsham RH12 1DN
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WAKOOS CENTRE4CHILDREN LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
SUMMARY
We would like to thank all our staff who continue to work exceptionally hard to ensure Wakoos provides vital, high quality childcare for the local community. We also thank our Trustees for assisting the management teams and who dedicate themselves to the ongoing success of Wakoos.
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 LTD
Independent examiner's report to the trustees of Wakoos Centre4Children Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
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 member of the 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:
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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
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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
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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
Galloways Accounting Atlas Chambers 33 West Street Brighton East Sussex BN1 2RE
Date: .............................................
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WAKOOS CENTRE4CHILDREN LTD
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023
| 2023 Unrestricted Restricted Total fund funds funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 3,300 - 3,300 Charitable activities 6 Nursery, after-school clubs and holiday clubs 679,917 251,676 931,593 Other trading activities 4 6,451 - 6,451 Investment income 5 334 - 334 Total 690,002 251,676 941,678 EXPENDITURE ON Charitable activities 7 Nursery, after-school clubs and holiday clubs 713,329 251,676 965,005 NET INCOME/(EXPENDITURE) (23,327) - (23,327) RECONCILIATION OF FUNDS Total funds brought forward 297,775 - 297,775 TOTAL FUNDS CARRIED FORWARD 274,448 - 274,448 |
2022 Total funds £ 1,250 949,159 9,394 49 |
|---|---|
| 959,852 | |
| 894,848 | |
| 65,004 232,771 |
|
| 297,775 |
The notes form part of these financial statements
Page 8
WAKOOS CENTRE4CHILDREN LTD
BALANCE SHEET 31 MARCH 2023
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 13 31,380 CURRENT ASSETS Debtors 14 57,229 Cash at bank and in hand 234,398 291,627 CREDITORS Amounts falling due within one year 15 (48,559) NET CURRENT ASSETS 243,068 TOTAL ASSETS LESS CURRENT LIABILITIES 274,448 NET ASSETS 274,448 FUNDS 17 Unrestricted funds TOTAL FUNDS |
Restricted funds £ - - - - - - - - |
2023 Total funds £ 31,380 57,229 234,398 291,627 (48,559) 243,068 274,448 274,448 274,448 274,448 |
2022 Total funds £ 29,897 75,048 234,804 309,852 (41,974) 267,878 297,775 297,775 297,775 297,775 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
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The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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 LTD
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023
| Notes Cash flows from operating activities Cash generated from operations 20 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash used in investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2023 £ 5,014 5,014 (5,754) 334 (5,420) (406) 234,804 234,398 |
2022 £ 16,234 16,234 (2,322) 49 (2,273) 13,961 220,843 234,804 |
|---|---|---|
The notes form part of these financial statements
Page 10
WAKOOS CENTRE4CHILDREN LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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.
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WAKOOS CENTRE4CHILDREN LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
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.
Improvements to property - Straight line over 20 years Nursery equipment - 33% on reducing balance Computer equipment - 25% on cost
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.
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Gifts and grants | 3,300 | 1,250 |
| OTHER TRADING ACTIVITIES | ||
| 2023 | 2022 | |
| £ | £ | |
| Fundraising events | 2,451 | 1,114 |
| Apprenticeship scheme funding | 4,000 | 8,280 |
| 6,451 | 9,394 |
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continued...
WAKOOS CENTRE4CHILDREN LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
5. INVESTMENT INCOME
| Deposit account interest 6. INCOME FROM CHARITABLE ACTIVITIES Activity Fee income from Nursery, after school club and holiday club Nursery, after-school clubs and holiday clubs Grants Nursery, after-school clubs and holiday clubs The grants are government grants for the following: 3 year olds and over 2 year olds Inclusion fund Other 7. CHARITABLE ACTIVITIES COSTS Direct Costs £ Nursery, after-school clubs and holiday clubs 922,133 8. SUPPORT COSTS Management Other £ £ Nursery, after-school clubs and holiday clubs 27,897 546 9. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Other operating leases Deficit on disposal of fixed assets Independent examiner's remuneration - independent examination Independent examiner's remuneration - other services |
Deposit account interest 6. INCOME FROM CHARITABLE ACTIVITIES Activity Fee income from Nursery, after school club and holiday club Nursery, after-school clubs and holiday clubs Grants Nursery, after-school clubs and holiday clubs The grants are government grants for the following: 3 year olds and over 2 year olds Inclusion fund Other 7. CHARITABLE ACTIVITIES COSTS Direct Costs £ Nursery, after-school clubs and holiday clubs 922,133 8. SUPPORT COSTS Management Other £ £ Nursery, after-school clubs and holiday clubs 27,897 546 9. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Other operating leases Deficit on disposal of fixed assets Independent examiner's remuneration - independent examination Independent examiner's remuneration - other services |
2023 £ 334 2023 £ 679,917 251,676 931,593 |
2022 £ 49 2022 £ 657,068 292,091 949,159 |
||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| £ | £ | ||||
| 218,291 | 276,255 | ||||
| 24,685 | 15,836 | ||||
| 8,700 | - | ||||
| - | - | ||||
| 251,676 | 292,091 | ||||
| Direct Costs £ 922,133 Other £ 546 |
Support costs (see note 8) £ 42,872 Governance costs £ 14,429 2023 £ 4,254 32,345 17 1,000 2,720 |
Totals £ 965,005 Totals £ 42,872 2022 £ 3,587 34,530 - 1,000 2,600 |
|||
Page 13
continued...
WAKOOS CENTRE4CHILDREN LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
11. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
2023 £ 710,530 35,603 14,129 760,262 |
2022 £ 702,962 25,831 11,968 |
|---|---|---|
| 740,761 |
The average monthly number of employees during the year was as follows:
| Level 6 early years practitioner Level 5 early years practitioner Level 4 early years practitioner Level 3 early years practitioner Level 2 or trainee practitioner Unqualified after-school staff Bank staff Kitchen staff Cleaners |
2023 1 3 1 17 5 10 4 3 3 47 |
2022 2 1 1 19 8 13 2 3 3 |
|---|---|---|
| 52 |
No employees received emoluments in excess of £60,000.
12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies - Charitable activities Nursery, after-school clubs and holiday clubs 657,068 Other trading activities 9,394 Investment income 49 Total 666,511 EXPENDITURE ON Charitable activities Nursery, after-school clubs and holiday clubs 601,507 NET INCOME 65,004 RECONCILIATION OF FUNDS Total funds brought forward 232,771 |
Restricted funds £ 1,250 292,091 - - 293,341 293,341 - - |
Total funds £ 1,250 949,159 9,394 49 |
|---|---|---|
| 959,852 | ||
| 894,848 | ||
| 65,004 232,771 |
Page 14
continued...
WAKOOS CENTRE4CHILDREN LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
| 12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL | COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES - continued | ACTIVITIES - continued | ACTIVITIES - continued | |
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||||
| fund | funds | funds | ||||
| £ | £ | £ | ||||
| TOTAL FUNDS CARRIED FORWARD | 297,775 | - | 297,775 | |||
| 13. | TANGIBLE FIXED ASSETS | |||||
| Improvements | ||||||
| to | Nursery | Computer | ||||
| property | equipment | equipment | Totals | |||
| £ | £ | £ | £ | |||
| COST | ||||||
| At 1 April 2022 | 53,200 | 53,481 | 8,101 | 114,782 | ||
| Additions | - | 5,598 | 156 | 5,754 | ||
| Disposals | - | (2,250) | (422) | (2,672) | ||
| At 31 March 2023 | 53,200 | 56,829 | 7,835 | 117,864 | ||
| DEPRECIATION | ||||||
| At 1 April 2022 | 26,600 | 52,289 | 5,996 | 84,885 | ||
| Charge for year | 2,660 | 984 | 610 | 4,254 | ||
| Eliminated on disposal | - | (2,250) | (405) | (2,655) | ||
| At 31 March 2023 | 29,260 | 51,023 | 6,201 | 86,484 | ||
| NET BOOK VALUE | ||||||
| At 31 March 2023 | 23,940 | 5,806 | 1,634 | 31,380 | ||
| At 31 March 2022 | 26,600 | 1,192 | 2,105 | 29,897 | ||
| 14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Trade debtors | 55,016 | 68,710 | ||||
| Prepayments and accrued income | 2,213 | 6,338 | ||||
| 57,229 | 75,048 | |||||
| 15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Social security and other taxes | 4,478 | 6,944 | ||||
| Other creditors | 14,351 | 9,202 | ||||
| Fee deposits | 9,250 | 7,910 | ||||
| Accrued expenses | 20,480 | 17,918 | ||||
| 48,559 | 41,974 |
Page 15
continued...
WAKOOS CENTRE4CHILDREN LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
16. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| Within one year Between one and five years 17. 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 TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 1.4.22 £ 297,775 297,775 Incoming resources £ 690,002 251,676 941,678 At 1.4.21 £ 232,771 232,771 |
2023 2022 £ £ 15,081 6,284 23,878 - 38,959 6,284 Net movement At in funds 31.3.23 £ £ (23,327) 274,448 (23,327) 274,448 Resources Movement expended in funds £ £ (713,329) (23,327) (251,676) - (965,005) (23,327) Net movement At in funds 31.3.22 £ £ 65,004 297,775 65,004 297,775 |
|---|---|---|
Page 16
continued...
WAKOOS CENTRE4CHILDREN LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
17. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted Flooring TOTAL FUNDS |
Incoming resources £ 666,511 292,091 1,250 293,341 959,852 |
Resources Movement expended in funds £ £ (601,507) 65,004 (292,091) - (1,250) - (293,341) - (894,848) 65,004 |
|---|---|---|
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 unrestricted fund is used to further the aims of the charity at the discretion of the trustees.
18. 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 £14,129 (2022: £11,968). The entire pension cost is allocated to nursery fees since it relates to staff employed in running the nurseries.
19. RELATED PARTY DISCLOSURES
In the year ended 31 March 2023, amounts were received from 3 trustees totalling £16,614, (2022: £3,989) for payment for their children to attend the nursery and 2 trustees made donations to the charity totalling £199, (2022: nil).
20. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| ACTIVITIES | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Net (expenditure)/income for the reporting period (as per the | |||
| Statement of Financial Activities) | (23,327) | 65,004 | |
| Adjustments for: | |||
| Depreciation charges | 4,254 | 3,587 | |
| Loss on disposal of fixed assets | 17 | - | |
| Interest received | (334) | (49) | |
| Decrease/(increase) in debtors | 17,819 | (43,222) | |
| Increase/(decrease) in creditors | 6,585 | (9,086) | |
| Net cash provided by operations | 5,014 | 16,234 | |
| ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1.4.22 | Cash flow | At 31.3.23 | |
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 234,804 | (406) | 234,398 |
| 234,804 | (406) | 234,398 |
21. ANALYSIS OF CHANGES IN NET FUNDS
Page 17
continued...
WAKOOS CENTRE4CHILDREN LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
| 21. ANALYSIS OF CHANGES IN NET FUNDS - continued Total |
234,804 | (406) | |
|---|---|---|---|
| 234,398 |
Page 18
WAKOOS CENTRE4CHILDREN LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| INCOME AND ENDOWMENTS Donations and legacies Gifts and grants Other trading activities Fundraising events Apprenticeship scheme funding Investment income Deposit account interest Charitable activities Fee income from Nursery, after school club and holiday club Grants Total incoming resources EXPENDITURE Charitable activities Wages Social security Pensions Other operating leases Rates and water Light and heat Sundries Staff costs Running costs Improvements to property Fixtures and fittings Loss on sale of tangible fixed assets Donations Support costs Management Insurance Advertising Office costs Computer equipment Other Bank charges |
2023 £ 3,300 2,451 4,000 6,451 334 679,917 251,676 931,593 941,678 710,530 35,603 14,129 32,345 9,110 220 681 15,933 99,829 2,660 984 17 92 922,133 2,297 583 24,407 610 27,897 546 |
2022 £ 1,250 1,114 8,280 |
|---|---|---|
| 9,394 49 657,068 292,091 |
||
| 949,159 | ||
| 959,852 702,962 25,831 11,968 34,530 3,294 1,017 621 13,544 61,243 2,660 596 - - |
||
| 858,266 2,500 54 25,336 331 |
||
| 28,221 350 |
This page does not form part of the statutory financial statements
Page 19
WAKOOS CENTRE4CHILDREN LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Other | ||
| Governance costs | ||
| Accountancy fees | 5,878 | 5,971 |
| Legal fees | 8,551 | 2,040 |
| 14,429 | 8,011 | |
| Total resources expended | 965,005 | 894,848 |
| Net (expenditure)/income | (23,327) | 65,004 |
This page does not form part of the statutory financial statements
Page 20
Wakoos Centre4Children Limited Station Road Billingshurst West Sussex RH14 9RY
Galloways Accounting Atlas Chambers 33 West Street Brighton England BN1 2RE
Dear Sirs
The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your independent examination of the charitable company’s financial statements for the year ended 31 March 2023. These enquiries have included inspection of supporting documentation where appropriate. All representations are made to the best of our knowledge and belief.
General
-
1 We acknowledge that the work performed by you is substantially less in scope than an audit performed in accordance with International Standards on Auditing (UK) and that you do not express an audit opinion.
-
2 We confirm that the charitable company qualifies as small in accordance with the conditions set out in chapter 1 of part 15 of the Companies Act 2006.
-
3 We confirm that the charitable company was entitled to exemption under section 144 of the Charities Act 2011 the requirement to have its financial statements for the financial year ended 31 March 2023 audited. We also confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476 of the Companies Act 2006.
-
4 We have fulfilled our responsibilities as directors / trustees as set out in the terms of your engagement letter, under the Companies Act 2006 for preparing financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), for being satisfied that they give a true and fair view and for making accurate representations to you.
-
5 All the transactions undertaken by the charitable company have been properly reflected and recorded in the accounting records.
-
6 All the accounting records have been made available to you for the purpose of your independent examination. We have provided you with unrestricted access to all appropriate persons within the charitable company, and with all other records and related information requested, including minutes of all management and trustee meetings and correspondence with The Charity Commission.
-
7 The financial statements are free of material misstatements, including omissions.
-
8 The effects of uncorrected misstatements are immaterial both individually and in total.
Assets and liabilities
-
9 The charitable company has satisfactory title to all assets and there are no liens or encumbrances on the charitable company’s assets, except for those that are disclosed in the notes to the financial statements.
-
10 All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as appropriate.
-
11 We have no plans or intentions that may materially alter the carrying value and where relevant the fair value measurements or classification of assets and liabilities reflected in the financial statements.
12 At the 31[st] March 2023, the aged debtors of £55,016.36, and all the balances are recoverable.
Accounting estimates
- 13 Significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.
Loans and arrangements
- 14 The charitable company has not granted any advances or credits to, or made guarantees on behalf of, directors other than those disclosed in the financial statements.
Legal claims
- 15 We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for, and disclosed in, the financial statements.
Laws and regulations
- 16 We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing the financial statements.
Related parties
- 17 Related party relationships and transactions have been appropriately accounted for and disclosed in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with legislative and accounting standards requirements.
Subsequent events
- 18 All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed.
Going concern
- 19 We believe that the charitable company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charitable company's needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the charitable company's ability to continue as a going concern need to be made in the financial statements. We do not anticipate that the recent COVID-19 outbreak will affect the charitable company's ability to continue for the foreseeable future and therefore continues to adopt the going concern basis in preparing its financial statements.
Grants and donations
- 20 All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions in the application of such income. Grants are received in the term to which they relate and there were no outstanding amounts or amounts paid in advance at the year end. There were no clawbacks of grants after the year end.
Yours faithfully
.............................................................................................................................. J Brown - Trustee
On behalf of the board of trustees