REGISTERED COMPANY NUMBER: 07180968 (England and Wales) REGISTERED CHARITY NUMBER: 1137968
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
FOR
WAKOOS CENTRE4CHILDREN LTD
Galloways Accounting Statutory Auditors 15 West Street Brighton East Sussex BN1 2RL
WAKOOS CENTRE4CHILDREN LTD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| Page | |
|---|---|
| Report of the Trustees | 1 to 9 |
| Report of the Independent Auditors | 10 to 12 |
| Statement of Financial Activities | 13 |
| Balance Sheet | 14 |
| Cash Flow Statement | 15 |
| Notes to the Financial Statements | 16 to 24 |
| Detailed Statement of Financial Activities | 25 to 26 |
WAKOOS CENTRE4CHILDREN LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
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 2025. 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).
Operating as a a charitable company, Wakoos delivers high-quality childcare services from two sites in rural West Sussex: one in Billingshurst and another in Petworth.
Each site is registered with OFSTED and runs 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', 'the Charity') is a not-for-profit organisation reinvesting in staff and resources to deliver high-quality childcare. Our goal is to provide more flexible and affordable care than many commercial alternatives.
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. We are committed to maintaining and improving the standard of childcare and regularly seek feedback from staff and families to inform our development. Our services comply with the EYFS statutory framework, and we also aim to support families with practical early years advice.
Our main aims are to:
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Foster children's emotional, social, physical, creative and intellectual development.
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Promote confidence, self-esteem and positive attitudes.
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Offer a safe and stimulating learning environment.
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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 9 month, 2, 3 and 4 year old funding.
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Employ qualified and dedicated staff and supporting their professional development.
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Create a positive and supportive working environment.
Inclusion and Diversity:
Wakoos is fully inclusive, welcoming children from all backgrounds, regardless of race, culture, religion, economic status, or ability. We accept government-funded placements (for 9-month olds, 2, 3 and 4 year olds) and work closely with Integrated Prevention and Early Help services, accepting referrals for children who may be vulnerable learners.
Collaborations:
To help achieve our charitable aims and achieve our goals, we collaborate with:
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Health and education professionals.
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Social services.
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Speech and language therapists.
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West Sussex County Council Early Childhood Services.
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Local primary schools to reflect their teaching methods and ensure a smooth transition for children.
Our staff also 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/Pans and Early Help Assessments.
We also offer placements and training opportunities to students from local schools and training providers.
Page 1
WAKOOS CENTRE4CHILDREN LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
Performance and Achievements:
We are the only nursery setting with wraparound care in our local area.
Surplus income is reinvested in training, facilities and to improve/refresh the nursery environment and resources.
Significant activities/milestones
Billingshurst: Ofsted rating "Good" - October 2022
Petworth: Ofsted rating "Good" - January 2024
Billingshurst ASC Women's Hall: Ofsted rating "Standard Met" - December 2023
Registration and opening of a third BC and ASC - October 2024
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.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
Both our nursery sites continue to operate as successful nurseries with many local children and their families benefiting greatly from the flexible, affordable childcare that we provide. There are still 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 wraparound care for our local primary schools. We will continue to seek improvements and expansion to our provision where possible, but have been constrained recently due to the industry wide staffing shortages. We are constantly reviewing the benefits we offer our employees to make our charity an enjoyable rewarding place to work. 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 to the community.
Additional Successes:
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Smooth transitions to primary school.
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High percentage of children meeting age expectations.
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Ongoing support for vulnerable families.
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Staff attend training sessions, including a whole day cross-site training day (held on an inset day). This has been well received to improve skills and morale.
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Continued referrals from external agencies.
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High demand at both sites without marketing.
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Opening of a third BC and ASC at Billingshurst primary school in October 2024.
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Successful grant application from WSCC - "Wraparound Children Funding Programme". Wakoos received
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£30,000 to assist with the opening of the new Breakfast Club and After School Club at Billingshurst Primary.
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Successful staff recruitment drive at Petworth.
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Numbers at Petworth looking positive for the new term.
Page 2
WAKOOS CENTRE4CHILDREN LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
ACHIEVEMENTS AND PERFORMANCE
Challenges:
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A number of staff have been absent for long periods of time (due to sickness or dependency needs) which has led to tight levels for long periods affecting staff morale.
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Some high expenditure costs such as the installation of CCTV across both settings, and full audit fees along with increased inflation costs on utilities, food items and resources.
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The increase of NI and pension contributions have raised salary costs; fees not being raised in April 2024 did not help facilitate this cost increase.
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Children numbers have been reviewed, and in some cases decreased in a room due to the change in required child to staff ratios. Children joining after their birthday/when funding available means we cannot always backfill spaces as the space will not be there when children on the waiting list are due to join.
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Wakoos is in negotiations with West Sussex County Council regarding becoming the sole tenant at the Children & Family Centre. The lease is due to be completed in June 2025 with additional responsibilities for Wakoos to consider, such as full internal maintenance costs and the upkeep of the external garden areas.
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New legislations being introduced September 2025 in areas such as Nutritional Meals and the impending extra food costs.
FINANCIAL REVIEW
Financial Overview
Key financial highlights include:
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During the year, the charitable company had total incoming resources of £1,179,257 (2024: £999,114). Total expenditure of £1,221,716 (2024: £981,959), resulting in a deficit of £42,459 (2024: surplus of £17,155).
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National Living Wage increased £0.77/hour (April 2024), causing greater salary costs.
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Fees were raised in October 2024 for the Nursery children only and not the After School Club Children. This decision was made as we were opening a new ASC at the local primary school and had already released our fees to the community.
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There was no fee increase in April 2024. This was due to the introduction of the new government funding and waiting for the hourly rates to be released from West Sussex County Council. Unfortunately, they did not release these figures until late March 2024 which did not allow us to review the financial impact this would have on the business and also increase the fees fairly. It was thought that the surplus we were making would carry us through this.
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 charity continues to have healthy reserves and sufficient funds in the bank to cover at least 2 months of outgoings: lease payments, staff salaries and pension contributions, which on average is £200,564.
The charity's current balance of unrestricted reserves stands at £214,144.
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WAKOOS CENTRE4CHILDREN LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
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. A voluntary committee made up of 8 trustees oversees operations, with elected roles for Chair, Treasurer, and Secretary reviewed annually at the AGM (held in November).
Trustees are typically parents using our services and bring both community and professional insight. Recruitment of new trustees is ongoing.
In 2024/25:
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3 trustees appointed.
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4 trustees stepped 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 and comply with Ofsted requirements.
Monthly meetings are held between trustees and the nursery management team, which includes the Finance Manager and Nursery Managers for both sites (with deputies).
All trustee roles are unpaid. Relevant expenses are disclosed in the financial accounts.
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 organisations in the locality as part of the annual pay review.
Summary:
We extend our heartfelt thanks to all Wakoos staff for their dedication and to the trustees for their voluntary commitment. Their contributions ensure we continue to offer essential, high-quality childcare services to our community.
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WAKOOS CENTRE4CHILDREN LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
Organisational structure - Billingshurst
Wakoos Billingshurst is open Monday to Friday 07.30am-6.00pm, 51 weeks/year.
Three leased sites: The Children and Family Centre, The Women's Hall and Billingshurst Academy where our new BC and ASC are being run, known as WOSAC. Capacity: 60 nursery places + 90 wraparound care places.
The Station Road building was purpose built for childcare facilities and has three main rooms for different age groups (3 months to 2 years old, 2-3 years old and 3-5 years old), along with specific rooms and outdoor separate areas for clubs with tailored activities.
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.
As well as the main day nursery, Wakoos runs a Breakfast and After School club for children attending primary school in years Reception to Year 6.
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Age ranges of our Breakfast Cubs and afterschool Clubs are: - Reception and Year 1 children meet at the Children and Family Centre.
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Years 2 and 3 meet at Billingshurst Primary.
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Years 4, 5 and 6 meet at the Women's Hall.
Billingshurst Staff Breakdown:
| Billingshurst Staff Breakdown: | ||
|---|---|---|
| Level 6 Practitioner | 1 | |
| Level 5 Practitioner | 1 | |
| Level 4 Practitioner | 1 | |
| Level 3 Early Years Practitioner | 9 | (1 in kitchen) |
| Level 2 Early Years Practitioner | 2 | |
| Unqualified Staff | 20 | (6 in training) |
| Support Staff: | 3 | (finance and kitchen) |
| Total | 37 |
Organisational structure - Petworth
Wakoos Petworth is open Monday to Friday 07.30am-6.00pm, 51 weeks/year.
Capacity: 65 places (3 months - 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.
Facilities include three age-group rooms, garden play area, and dedicated club space. Fully accessible building.
| Petworth Staff Breakdown: | ||
|---|---|---|
| Level 6 Practitioner | 1 | |
| Level 5 Practitioner | 1 | |
| Level 3 Early Years Practitioner | 9 | |
| Level 2 Early Years Practitioner | 3 | |
| Unqualified | 2 | (2 in training) |
| Support Staff: | 3 | (kitchen and bank) |
| Total | 19 |
Totalling 56 staff across both sites.
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WAKOOS CENTRE4CHILDREN LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Staff may be temporarily reassigned between sites as per contract terms.
All staff follow Ofsted's Safer Recruitment practices. DBS checks and mandatory training are completed within six months or are already held.
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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Recruitment continues to be difficult and there is a widespread lack of staff across the industry. Staff shortages put strain on our resources and management teams.
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The government hourly funding provision for 2 & 3 yr olds has been very low and doesn't fully cover the cost of providing free entitlement hours. There are plans for this to gradually increase from April 2024, but its effect will take a while to be felt. The extremely late notice of the government funding changes also makes it difficult to plan ahead.
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As the sole occupier of the Billingshurst Children and Family, obtaining the required building maintenance from our landlord is still very difficult. We have delayed maintenance cost increases as much as possible future lease changes would likely increase some of our maintenance costs in the future.
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The possibility of fraud continues to exist and has been highlighted by a series of scam calls to the nursery (April 2024). Although no money was gained by the attempted fraud, it did cause some distress to our employees involved.
To help mitigate or limit the impact of these risks:
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We are constantly exploring ways (financial and otherwise) of improving staff recruitment, retention and morale. Eg employee benefits such as number of leave days available.
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We will continue to review staff salaries each April to ensure they remain competitive. We will increase our fees if needed to ensure our outgoings are covered.
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We will continue to review the government hourly funding received and the number of funded places we are able to offer. We are hoping future changes will be in our favour.
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We will seek to negotiate and limit our liability for maintenance under any future leases. We have already received building survey reports to back up our position.
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Scam calls were reported to the police and Action Fraud. Systems, passwords, security procedures have been updated on the advice of Action Fraud and an IT specialist, and our bank has been updated with the latest trustee details. We have also written a new Anti-Fraud policy and discussed the attempted fraud during several of our committee meetings, which has raised everyone's awareness of the possibility of fraud going forward.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07180968 (England and Wales)
Registered Charity number
1137968
Registered office
Station Road Billingshurst West Sussex RH14 9RY
Page 7
WAKOOS CENTRE4CHILDREN LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
Trustees
J Brown H Colligan H Ramiz (resigned 4/4/2024) V Worsfold (resigned 30/6/2024) S Robinson (resigned 31/12/2024) E Baker (resigned 10/10/2024) N Francis (resigned 17/9/2025) M Shall T Baker (appointed 5/9/2024) (resigned 19/6/2025) L Charlesworth (appointed 5/9/2024) J Ross (appointed 5/9/2024) (resigned 30/7/2025) I Jenkins (appointed 1/8/2025)
Auditors
Galloways Accounting Statutory Auditors 15 West Street Brighton East Sussex BN1 2RL
Banker
Barclays Bank plc 2 Carfax Horsham RH12 1DN
SUMMARY
We would once again like to thank all our hardworking staff who continue to work through many challenges, especially in times of staff shortages, to ensure Wakoos meets its charitable aims of providing high quality, affordable childcare for the local community. We also thank our Trustees for volunteering their time to assist the management teams and who dedicate themselves to the ongoing success of Wakoos.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Wakoos Centre4Children Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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WAKOOS CENTRE4CHILDREN LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
In so far as the trustees are aware:
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there is no relevant audit information of which the charitable company's auditors are unaware; and
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
The auditors, Galloways Accounting, will be proposed for re-appointment at the forthcoming Annual General Meeting.
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 9
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WAKOOS CENTRE4CHILDREN LTD
Opinion
We have audited the financial statements of Wakoos Centre4Children Ltd (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
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In our opinion the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Page 10
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WAKOOS CENTRE4CHILDREN LTD
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Page 11
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WAKOOS CENTRE4CHILDREN LTD
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
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Discussion with management, including consideration of known or suspected instances of fraud and noncompliance with laws and regulations;
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Review of minutes of Trustees' meetings for discussion of instances of fraud and non-compliance with laws and regulations;
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Review of legal expenses for evidences of fees related to non-compliance; and
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Review of journal entries for indicators of fraud and management override.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Colin Young (Senior Statutory Auditor) for and on behalf of Galloways Accounting Statutory Auditors 15 West Street Brighton East Sussex BN1 2RL
Date: .............................................
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WAKOOS CENTRE4CHILDREN LTD
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 3 Charitable activities 6 Nursery, after-school clubs and holiday clubs Other trading activities 4 Investment income 5 Total EXPENDITURE ON Raising funds 7 Charitable activities 8 Nursery, after-school clubs and holiday clubs Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 570 618,714 1,986 2,569 623,839 8,122 693,176 701,298 (77,459) 291,603 214,144 |
Restricted funds £ - 555,418 - - 555,418 - 520,418 520,418 35,000 - 35,000 |
2025 Total funds £ 570 1,174,132 1,986 2,569 1,179,257 8,122 1,213,594 1,221,716 (42,459) 291,603 249,144 |
2024 Total funds £ - 994,929 2,274 1,911 |
|---|---|---|---|---|
| 999,114 | ||||
| 7,339 974,620 |
||||
| 981,959 | ||||
| 17,155 274,448 |
||||
| 291,603 |
The notes form part of these financial statements
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WAKOOS CENTRE4CHILDREN LTD
BALANCE SHEET 31 MARCH 2025
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 15 34,174 CURRENT ASSETS Debtors 16 65,652 Cash at bank and in hand 197,004 262,656 CREDITORS Amounts falling due within one year 17 (82,686) NET CURRENT ASSETS 179,970 TOTAL ASSETS LESS CURRENT LIABILITIES 214,144 NET ASSETS 214,144 FUNDS 19 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - 35,000 35,000 - 35,000 35,000 35,000 |
2025 Total funds £ 34,174 65,652 232,004 297,656 (82,686) 214,970 249,144 249,144 214,144 35,000 249,144 |
2024 Total funds £ 26,166 58,182 258,045 316,227 (50,790) 265,437 291,603 291,603 291,603 - 291,603 |
|---|---|---|---|
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
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WAKOOS CENTRE4CHILDREN LTD
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025
| Notes Cash flows from operating activities Cash generated from operations 22 Net cash (used in)/provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash (used in)/provided by 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 |
2025 £ (14,034) (14,034) (14,576) 2,569 (12,007) (26,041) 258,045 **232,004 ** |
2024 £ 21,735 21,735 - 1,911 1,911 23,646 234,399 258,045 |
|---|---|---|
The notes form part of these financial statements
Page 15
WAKOOS CENTRE4CHILDREN LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
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.
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WAKOOS CENTRE4CHILDREN LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
2. ACCOUNTING POLICIES - continued
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.
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 - 5% on cost 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 company is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes; therefore, 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.
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WAKOOS CENTRE4CHILDREN LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
| 3. DONATIONS AND LEGACIES Gifts and donations 4. OTHER TRADING ACTIVITIES Fundraising events 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 9 month olds Inclusion fund Wraparound grant Kitchen grant |
2025 £ 570 2025 £ 1,986 2025 £ 2,569 2025 £ 618,714 555,418 1,174,132 2025 £ 293,648 100,893 118,410 7,467 30,000 5,000 555,418 |
2024 £ - 2024 £ 2,274 2024 £ 1,911 2024 £ 721,722 273,207 994,929 2024 £ 235,097 32,510 - 5,600 - - 273,207 |
||
|---|---|---|---|---|
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WAKOOS CENTRE4CHILDREN LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
| 7. RAISING FUNDS Other trading activities Bad debts 8. CHARITABLE ACTIVITIES COSTS Direct Costs £ Nursery, after-school clubs and holiday clubs 1,162,493 9. SUPPORT COSTS Management Other £ £ Nursery, after-school clubs and holiday clubs 29,786 369 10. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Other operating leases Auditor's remuneration - audit fee Auditor's remuneration - non audit services 11. AUDITORS' REMUNERATION Auditors' remuneration for non audit work |
2025 £ 8,122 Support costs (see note 9) £ 51,101 Governance costs £ 20,946 2025 £ 6,568 18,835 14,976 2,400 2025 £ 2,400 |
2024 £ 7,339 Totals £ 1,213,594 Totals £ 51,101 2024 £ 5,214 31,088 10,800 2,040 2024 £ 2,040 |
2024 £ 7,339 Totals £ 1,213,594 Totals £ 51,101 2024 £ 5,214 31,088 10,800 2,040 2024 £ 2,040 |
|---|---|---|---|
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WAKOOS CENTRE4CHILDREN LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
12. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
13. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
2025 £ 896,566 56,501 20,698 973,765 |
2024 £ 692,990 35,649 20,273 |
|---|---|---|
| 748,912 |
The average monthly number of employees during the year was as follows:
Staff
| 2025 | 2024 |
|---|---|
| **52 ** | 44 |
No employees received emoluments in excess of £60,000.
At year-end, the number of staff members had risen to 56 (2024: 44), which is detailed in the trustees report.
14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Charitable activities Nursery, after-school clubs and holiday clubs 721,322 Other trading activities 2,274 Investment income 1,911 Total 725,507 EXPENDITURE ON Raising funds 7,339 Charitable activities Nursery, after-school clubs and holiday clubs 701,013 Total 708,352 NET INCOME 17,155 |
Restricted funds £ 273,607 - - 273,607 - 273,607 273,607 - |
Total funds £ 994,929 2,274 1,911 |
|---|---|---|
| 999,114 | ||
| 7,339 974,620 |
||
| 981,959 | ||
| 17,155 |
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WAKOOS CENTRE4CHILDREN LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
| 14. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL | COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES - continued | ACTIVITIES - continued | |
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| fund | funds | funds | |||
| £ | £ | £ | |||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 274,448 | - | 274,448 | ||
| TOTAL FUNDS CARRIED FORWARD | 291,603 | - | 291,603 | ||
| 15. | TANGIBLE FIXED ASSETS | ||||
| Improvements | |||||
| to | Nursery | Computer | |||
| property | equipment | equipment | Totals | ||
| £ | £ | £ | £ | ||
| COST | |||||
| At 1 April 2024 | 53,200 | 56,829 | 7,835 | 117,864 | |
| Additions | - | 146 | 14,430 | 14,576 | |
| Disposals | - | (104) | - | (104) | |
| At 31 March 2025 | 53,200 | 56,871 | 22,265 | 132,336 | |
| DEPRECIATION | |||||
| At 1 April 2024 | 31,920 | 52,958 | 6,820 | 91,698 | |
| Charge for year | 2,660 | 1,299 | 2,609 | 6,568 | |
| Eliminated on disposal | - | (104) | - | (104) | |
| At 31 March 2025 | 34,580 | 54,153 | 9,429 | **98,162 ** | |
| NET BOOK VALUE | |||||
| At 31 March 2025 | 18,620 | 2,718 | 12,836 | 34,174 | |
| At 31 March 2024 | 21,280 | 3,871 | 1,015 | 26,166 | |
| 16. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Trade debtors | 54,281 | 55,853 | |||
| Prepayments and accrued income | 11,371 | 2,329 | |||
| **65,652 ** | 58,182 |
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WAKOOS CENTRE4CHILDREN LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Social security and other taxes Other creditors Fee deposits Accrued expenses |
2025 £ 265 12,764 29,807 10,710 29,140 82,686 |
2024 £ - 8,788 6,889 10,120 24,993 50,790 |
|---|---|---|
18. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| Within one year Between one and five years |
2025 £ 7,111 1,516 8,627 |
2024 £ 15,081 8,797 23,878 |
|---|---|---|
19. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Kitchen Grant Wraparound Childcare Funding Programme TOTAL FUNDS |
At 1.4.24 £ 291,603 - - - 291,603 |
Net movement in funds £ (77,459) 5,000 30,000 35,000 **(42,459) ** |
At 31.3.25 £ 214,144 5,000 30,000 35,000 249,144 |
|---|---|---|---|
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WAKOOS CENTRE4CHILDREN LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
19. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds General fund 623,839 (701,298) Restricted funds Nursery Care 520,418 (520,418) Kitchen Grant 5,000 - Wraparound Childcare Funding Programme 30,000 - 555,418 (520,418) TOTAL FUNDS 1,179,257 (1,221,716) Comparatives for movement in funds Net movement At 1.4.23 in funds £ £ Unrestricted funds General fund 274,448 17,155 TOTAL FUNDS 274,448 17,155 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 725,507 (708,352) Restricted funds Nursery Care 273,607 (273,607) TOTAL FUNDS 999,114 (981,959) |
Movement in funds £ (77,459) - 5,000 30,000 35,000 (42,459) At 31.3.24 £ 291,603 291,603 Movement in funds £ 17,155 - 17,155 |
|---|---|
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 wraparound grant relates to an extension of space for more children to attend after-school/breakfast club activities.
The kitchen grant has been restricted as the aim is to utilise the fund for kitchen repairs.
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WAKOOS CENTRE4CHILDREN LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
19. MOVEMENT IN FUNDS - continued
The charity's unrestricted fund is used to further the aims of the charity at the discretion of the trustees.
20. 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 £20,698 (2024: £20,273). The entire pension cost is allocated to nursery fees since it relates to staff employed in running the nurseries.
21. RELATED PARTY DISCLOSURES
In the year ended 31 March 2025, amounts were received from 7 trustees totalling £26,847 (2024: £33,265) for payment for their children to attend the nursery. These services were charged at the same rate as other users of the service. At the year end, the charity was owed £55 (2024: £31) from 2 trustees and the charity held £250 (2024: £200) of deposits related to these services.
No trustees made donations to the charity in the year, (2024: £nil).
22. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Increase in debtors Increase in creditors Net cash (used in)/provided by operations |
2025 £ (42,459) 6,568 (2,569) (7,470) 31,896 (14,034) |
2024 £ 17,155 5,214 (1,911) (953) 2,230 21,735 |
|---|---|---|
23. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.4.24 | Cash flow | At 31.3.25 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 258,045 | (26,041) | **232,004 ** |
| 258,045 | (26,041) | **232,004 ** | |
| Total | 258,045 | (26,041) | **232,004 ** |
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WAKOOS CENTRE4CHILDREN LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| INCOME AND ENDOWMENTS Donations and legacies Gifts and donations Other trading activities Fundraising events Investment income Deposit account interest Charitable activities Fee income from Nursery, after school club and holiday club Grants Total incoming resources EXPENDITURE Other trading activities Bad debts Charitable activities Wages Social security Pensions Other operating leases Rates and water Sundries Staff costs Running costs Improvements to property Fixtures and fittings Support costs Management Insurance Advertising Office costs Computer equipment |
2025 £ 570 1,986 2,569 618,714 555,418 1,174,132 1,179,257 8,122 896,566 56,501 20,698 18,835 14,026 6,691 13,131 132,087 2,660 1,298 1,162,493 3,750 95 23,333 2,608 29,786 |
2024 £ - 2,274 1,911 721,722 273,207 994,929 999,114 7,339 692,990 35,649 20,273 31,088 19,575 2,858 6,324 110,454 2,660 1,935 923,806 3,342 98 25,349 619 29,408 |
|---|---|---|
This page does not form part of the statutory financial statements
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WAKOOS CENTRE4CHILDREN LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Management Other Bank charges Governance costs Auditors' remuneration for non audit work Accountancy and legal fees Accountancy fees Legal fees Total resources expended Net (expenditure)/income |
2025 £ 369 2,400 14,976 1,920 1,650 20,946 1,221,716 **(42,459) ** |
2024 £ 2,459 2,040 10,800 1,565 4,542 18,947 981,959 17,155 |
|---|---|---|
This page does not form part of the statutory financial statements
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