Company registration number: 07564773 Charity registration number: 1141690 

## The Ark Association 

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2023 

Mrs Sara Passey AIMS Accountants for Business 9 Church Street Langham Rutland LE15 7JE 



## **The Ark Association** 

## **Contents** 

|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 7|
|Statement of Trustees' Responsibilities|8|
|Independent Examiner's Report|9 to 10|
|Statement of Financial Activities|11|
|Balance Sheet|12|
|Notes to the Financial Statements|13 to 23|





## **The Ark Association** 

## **Reference and Administrative Details** 

**Trustees** C McGrory Mary Darlington Nicola Cowling Mica-Claire Foort Louise Trevor (appointed 1 August 2023) Lynn Starkey (appointed 31 July 2023) **Principal Office** c/o Oakham C of E School Burley Road Oakham Rutland LE15 6GY **Company Registration Number** 07564773 **Charity Registration Number** 1141690 **Solicitors** Freeth Cartwright LLP Cumberland Court 80 Mount Street Nottingham NG1 6HH **Independent Examiner** Mrs Sara Passey AIMS Accountants for Business 9 Church Street Langham Rutland LE15 7JE 

Page 1 



## **The Ark Association** 

## **Trustees' Report** 

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2023. 

## **Trustees** 

C McGrory 

Mary Darlington 

Nicola Cowling 

Mica-Claire Foort 

Louise Trevor (appointed 1 August 2023) 

Lynn Starkey (appointed 31 July 2023) 

## **Objectives and activities** 

## _**Objects and aims**_ 

As set out in the Articles of Association the charity's objectives (Objects) are specifically restricted to the following: 

To advance education and in particular to advance the education of children below compulsory school age and to provide facilities for children of school age during out of school hours and school holidays including by (but not limited to): 

- providing safe and satisfying group play, in which parents have the right to take part - encouraging other charitable activities through which parents may help the children 

- furthering the aims of the Pre-School Learning Alliance (or of any successor organisation) 

The Ark Association recognises that working in partnership with parents is of major value and importance to the Ark in enabling it to provide a happy, caring and stable environment for children and their parents. The Ark aims to form a good relationship with parents so that information regarding their children (be it developmental, social or health related) can be exchanged easily and comfortably by staff and parents. 

Page 2 



## **The Ark Association** 

## **Trustees' Report** 

The aims of the Ark include the following: 

- to offer high standards of education, stimulation and fun within a relaxed but structured environment in partnership with parents 

- to provide all children with a broad and balanced learning environment that is committed to the integration of children with special needs. The philosopy is that all children 'with or without special needs' should have the opportunity to develop to their full potential alongside other children in an educational environment. 

- to work within guidelines for specail educational needs set out in the 2001 Code of Practice insofar as they to relate to pre-school settings. 

The curriculum is based on seven areas of knowledge and enquiry that form the basis of education at every stage. The Foundation Stage (Early Learning Goals) list these as: 

- personal and social and emotional development 

- mathematics 

- physical development 

- expressive arts and design 

- communication and language development 

- literacy 

- understanding the world 

Although these play an important part in planning they are not presented to the children as discrete nursery subjects. Teaching at the Ark Association does not take the form of instruction. Rather the children are presented with a range of activities from which they can make their own choices and learn through playing and exploring the many resources we provide. 

The Ark Association will always put the needs of the children first, striking a balance between care, play and learning. Our open door policy and joint computerised assessments welcomes parent involvement and their personal knowledge of their child. 

The Board of Directors/Trustees, manager and staff are committed to providing the best service they can to the highest standard with the safety and welfare of our children being paramount. 

Each of the nurseries and out of school clubs are run the same, however each provision has its own unique qualities and facitlities. 

The charity operates from two sites in Oakham. One site owned by the charity (Ark 1) which is located on Princess Avenue and one rented from Oakham C of E school on a short term rental agreement (Ark 2) being located at Burley Road. 

## _**Objectives, strategies and activities**_ 

The primary objective of the charity is to provide affordable childcare for all but over the next year the organisation has the following specific aims 

- To remain as a Charitable organisation with changes to the Trustees roles. 

- To continue to work within our Business plan and increase cash flow. 

- To create and operate a new governance executive board – Senior Members of Staff to have full responsibility of 

- governance. 

Page 3 



## **The Ark Association** 

## **Trustees' Report** 

## _**Public benefit**_ 

The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. 

## **Achievements and performance** 

We have been working closer than ever to achieve a tighter rein on our finances, streamlining services where possible and researching to find the best products or services for the best fees. This in turn has helped us maintain a healthier profit month to month. We have seen the usual patterns emerge in our finances for example seeing the usual dip in August, however we have still managed to maintain good income. Our playschemes have been busier this year with a large increase in our number of all year round children which is great and means more stable finances throughout the holiday periods. 

Our fundraising efforts of our cake sales and the continuation of our parent/ carers craft and coffee mornings have been again hugely successful in raising funds for nursery. These fundraisers are minimal outlay for us however have been proving great at raising significant amounts of funds. Because of this we have been able to allocate each site with a new resources and some maintenance which was much needed. 

Our efforts to ensure staff overtime was kept minimal was hampered by recruitment and retention of staff this year and as a result we have been battling to keep staffs overtime hours down as much as we would of liked. 

Our Burley Road site is now in a contract with the Rutland Learning Trust/ Oakham C of E primary which provides greater security. Our before and after school club numbers have increased. 

Our finance processes have improved via clarity around policies and the use of tools that help track and govern cash flow. Trustees are taken through the financial reports at each meeting and are made aware of upcoming decisions. 

Page 4 



## **The Ark Association** 

## **Trustees' Report** 

## **Financial review** 

The charity reports a total surplus for the year of £19,751. This is a significant change from the deficit of £41,806 reported last year. 

Total income has increased by 12% to £415,976. This increase is a result of an increase in fees by around 10% per hour and higher occupancy rates. Work has been done to advertise the nursery and this has been beneficial. 

Costs conversely overall, have decreased year on year which is amazing given the nursery is busier. By far the largest cost in the nursery is wages and through very tight controls around overtime and in spite of increases to the minimum wage, staff costs have only increased by £3,356 compared to the previous year. That is only a 1% increase year on year. Furthermore, cleaning which was previously done by outside contractors has now been brought in house and is undertaken by staff and this has reduced costs paid to contractors by £6,877. 

Last year the Ark had to undertake quite a few expensive repairs and that has not continued in the current year so repair costs are lower by £6,170. 

Last year, the charity undertook a business improvement project which was focussed on reducing costs and improving processes and efficiency by providing management information to the trustees. This work was completed last year and the effects can be seen throughout the results. Whilst there is still some additional support provided by the Business Manager this year, the costs have significantly reduced compared to last year by £11,316 

As expected, due to higher occupancy levels and high inflation, spend on food and nursery meals has increased by £3,664 compared to last year. 

Overall, the reported surplus compared to last year is a huge improvement but the Trustees will continue to focus on efficiency and occupancy levels and must be prepared that repairs and one-off expenditure do crop up unexpectedly. 

The charity now holds free reserves of £45,121 at the balance sheet date. This would more than cover a month’s wages and overheads but situations can change very quickly so ideally the charity would like to hold double this which would be around 3 months costs. 

The Trustees review the financials monthly, with a set of reports that is designed to help identify trends and pinpoint issues, quickly. Financial controls have been improved and processes are beginning to become more efficient. The Trustees are very happy with the reported results but will continue to keep a tight grip on the finances to ensure the long-term success of the charity. 

Page 5 



## **The Ark Association** 

## **Trustees' Report** 

## _**Policy on reserves**_ 

The trustees have considered the level of reserves held by the charity. 

The reserves policy of the charity is to maintain unrestricted funds, which are the free reserves of the charity, at a sufficient level which enables the charity to be able to operate in the short term. The aim is to build up the level of free reserves such that it represents funding sufficient to cover at least one month's wages and have sufficient reserves to fund any significant capital works arising. 

The total reserves at the year end date were £229,172 (2022 - £209,419) of which an amount of £597 (2022 - £703) was held in restricted funds. £183,454 (2022 - £189,052) was represented by unrestricted fixed assets, leaving free reserves of £45,121 (2022 - £19,666). 

This level of reserves is now sufficient to run the charity for almost 6 weeks so the Trustees are happy this has improved but would like to have 3 months covered if possible. 

The trustees will continue to monitor this and review the policy on a periodic basis. 

## **Plans for future periods** 

## _**Aims and key objectives for future periods**_ 

The Ark Association’s key objective for the forthcoming years is to continue providing high quality, whilst affordable, childcare to all in the local community. 

We will continue our market research to ensure we are meeting the needs and demands of local families, expanding and accommodating additional requirements where possible. We will work to ensure that we can roll out the additional government funding for all 2 year olds of working families in the best way that we can from April 2024. 

We will continue to actively advertise The Ark Association using our new advertising materials and also promoting the before and after school provision, particularly through the Oakham C of E primary school. 

The management team and board of trustees will continue to review our business strategy to ensure the continuation of The Ark Association. Reviewing our finances will be a key objective to ensure we remain operating as sustainably as possible, in particular given the circumstances of continually rising outgoings, we will continue to assess our current financial situation and make efforts to review all existing contracts. 

We hope to secure more funds through fundraising events to ensure our settings are accommodating the needs and requirements of all children, this will include new resources and equipment both for inside and outside. 

The Ark Association will also work to ensure staff wellbeing and staff support is paramount to aid retention of all staff. This will include opportunities for continuous professional development and regular supervision and appraisals with management. 

We aim to improve our financial forecasting and reporting, now that confidence in the accounting software has improved. 

## **Going concern** 

The Trustees consider the Ark Association to be a going concern and the accounts have been prepared on that basis.. 

Page 6 



## **The Ark Association** 

## **Trustees' Report** 

## **Structure, governance and management** 

## _**Nature of governing document**_ 

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. 

## _**Recruitment and appointment of trustees**_ 

The directors of the company are also charity trustees for the purpose of charity law. The trustees will be elected at the Annual General Meeting and shall retire by rotation one each third year. 

The AGM for 2022 took place on 30 November 2022. 

The minimum number of directors under the Articles of Association is 3 and there are currently 7. 

## _**Induction and training of trustees**_ 

Any new trustees and committee members are given an overview of the Ark Association including details of the history and background of the charity together with the information of the financial position. In addition new trustees are provided with copies of the Charity Commission guidance booklet 'The Essential Trustee: An Introduction' and 'The Essential Trustee: What you need to know'. 

## _**Organisational structure**_ 

During 2022/23, the directors/trustees had board meetings at least once a term. 

## _**Major risks and management of those risks**_ 

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 Trustees have identified that there is risk associated with the recruitment and retention of Trustees to oversee the charity. Therefore, the charity has appointed 2 employees as Trustees. Approval has been sought from the Charity Commission and the charity's articles of association have been updated. 

The annual report was approved by the trustees of the charity on 28 November 2023 and signed on its behalf by: 

......................................... Mica-Claire Foort Trustee 

Page 7 



## **The Ark Association** 

## **Statement of Trustees' Responsibilities** 

The trustees (who are also the directors of The Ark Association for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. 

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- 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 adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Approved by the trustees of the charity on 28 November 2023 and signed on its behalf by: 

......................................... Mica-Claire Foort Trustee 

Page 8 



## **The Ark Association** 

## **Independent Examiner's Report to the trustees of The Ark Association** 

I report on the accounts of the charity for the year ended 31 March 2023 which are set out on pages 11 to 23 . 

## **Respective responsibilities of trustees and examiner** 

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of Chartered Institute of Management Accountants. 

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: 

- examine the accounts under section 145 of the 2011 Act; 

- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and 

- to state whether particular matters have come to my attention. 

## **Basis of independent examiner’s report** 

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below. 

## **Independent examiner's statement** 

In connection with my examination, no matter has come to my attention: 

- (1) which gives me reasonable cause to believe that in any material respect the requirements: 

   - to keep accounting records in accordance with section 386 of the Companies Act 2006; and 

   - to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities 

have not been met; or 

- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 

Page 9 



## **The Ark Association** 

## **Independent Examiner's Report to the trustees of The Ark Association** 

...................................... Sara Passey ACMA AIMS Accountants for Business Chartered Institute of Management Accountants 

9 Church Street Langham Rutland LE15 7JE 

28 November 2023 

Page 10 



## **The Ark Association** 

## **Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)** 

|**Note**<br>**Income and Endowments from:**<br>Donations and legacies<br>3<br>Charitable activities<br>4<br>Other trading activities<br>5<br>Investment income<br>6<br>Other income<br>Total Income<br>**Expenditure on:**<br>Charitable activities<br>Total Expenditure<br>7<br>Net income/(expenditure)<br>Net movement in funds<br>**Reconciliation of funds**<br>Total funds brought forward<br>Total funds carried forward<br>18|**Unrestricted**<br>**funds**<br>**£**<br>-<br>413,574<br>1,822<br>35<br>545<br>415,976<br>396,119<br>396,119<br>19,857<br>19,857<br>208,716<br>228,573|**Restricted**<br>**funds**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>-<br>106<br>106<br>(106)<br>(106)<br>703<br>597|**Total**<br>**2023**<br>**£**<br>-<br>413,574<br>1,822<br>35<br>545<br>415,976<br>396,225<br>396,225<br>19,751<br>19,751<br>209,419<br>229,170|**Total**<br>**2022**<br>**£**<br>296<br>368,891<br>-<br>5<br>1,222|
|---|---|---|---|---|
|||||370,414|
|||||412,220|
|||||412,220|
|||||(41,806)|
|||||(41,806)<br>251,225|
|||||209,419|



All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 18. 

Page 11 



## **The Ark Association** 

## **(Registration number: 07564773) Balance Sheet as at 31 March 2023** 

|**Note**<br>**Fixed assets**<br>Tangible assets<br>14<br>**Current assets**<br>Debtors<br>15<br>Cash at bank and in hand<br>**Creditors: Amounts falling due within one year**<br>16<br>**Net current assets**<br>**Net assets**<br>**Funds of the charity:**<br>**Restricted funds**<br>**Unrestricted income funds**<br>Unrestricted funds<br>**Total funds**<br>18|**2023**<br>**£**<br>184,051<br>3,587<br>61,908<br>65,495<br>(20,374)<br>45,121<br>229,172<br>597<br>228,573<br>229,170|**2022**<br>**£**<br>189,755<br>3,529<br>37,386|
|---|---|---|
|||40,915<br>(21,249)|
|||19,666|
|||209,421|
|||703<br>208,716|
|||209,419|



For the financial year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 

Directors' responsibilities: 

- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and 

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 

The financial statements on pages 11 to 23 were approved by the trustees, and authorised for issue on 28 November 2023 and signed on their behalf by: 

......................................... Mica-Claire Foort Trustee 

Page 12 



## **The Ark Association** 

## **Notes to the Financial Statements for the Year Ended 31 March 2023** 

## **1 Charity status** 

The charity is a charity limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation. 

## **2 Accounting policies** 

## **Summary of significant accounting policies and key accounting estimates** 

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. 

## **Statement of compliance** 

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

## **Basis of preparation** 

The Ark Association meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. 

## **Going concern** 

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. 

## **Exemption from preparing a cash flow statement** 

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. 

## **Income recognition** 

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. 

## **Expenditure** 

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. The charity has taken advantage of the exemption available to smaller charities to report all expenditure under total expenditure and this is broken down further in the notes. 

Page 13 



## **The Ark Association** 

## **Notes to the Financial Statements for the Year Ended 31 March 2023** 

## **Taxation** 

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 

## **Tangible fixed assets** 

Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 

## **Depreciation and amortisation** 

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life. This year the depreciation rate of the property has been reviewed and the property is now being depreciated over the remaining term of the long lease which is held on the land. The property has now been reclassified as leasehold on the basis that the land is held on a lease. All depreciation rates are show as follows: 

|**Asset class**|**Depreciation method and rate**|
|---|---|
|Leasehold property|Depreciated straight line over 64 years<br>from 2018|
|Improvements to property|Depreciated straight line over 64 years<br>from 2018|
|Toys and equipment|15% balance reducing|
|Office equipment|15% balance reducing|
|Motor vehicles|25% balance reducing|



## **Trade debtors** 

Trade debtors are amounts due from customers for services performed in the ordinary course of business. 

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. 

## **Cash and cash equivalents** 

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. 

## **Trade creditors** 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. 

Page 14 



## **The Ark Association** 

## **Notes to the Financial Statements for the Year Ended 31 March 2023** 

## **Fund structure** 

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity. 

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. 

## **3 Income from donations and legacies** 

|Donations and legacies;<br>Donations from individuals<br>**4**<br>**Income from charitable activities**<br>Fees - Burley Road<br>Milk BR<br>Grants receivable|**Unrestricted**<br>**funds**<br>**General**<br>**£**<br>412,188<br>1,386<br>-<br>413,574|**Total**<br>**2023**<br>**£**<br>-<br>-<br>**Total**<br>**2023**<br>**£**<br>412,188<br>1,386<br>-<br>413,574|**Total**<br>**2022**<br>**£**<br>296|
|---|---|---|---|
||||296|
||||**Total**<br>**2022**<br>**£**<br>365,535<br>1,690<br>1,666|
||||368,891|



Page 15 



## **The Ark Association** 

## **Notes to the Financial Statements for the Year Ended 31 March 2023** 

## **5 Income from other trading activities** 

|Fundraising events<br>**Investment income**<br>Interest receivable on bank deposits|**Unrestricted**<br>**funds**<br>**General**<br>**£**<br>35|**Unrestricted**<br>**funds**<br>**General**<br>**£**<br>1,822<br>1,822<br>**Total**<br>**2023**<br>**£**<br>35|**Total**<br>**2023**<br>**£**<br>1,822|
|---|---|---|---|
||||1,822|
||||**Total**<br>**2022**<br>**£**<br>5|



## **6 Investment income** 

Page 16 



## **The Ark Association** 

## **Notes to the Financial Statements for the Year Ended 31 March 2023** 

## **7 Expenditure on charitable activities** 

|**7**<br>**Expenditure on charitable activities**|||
|---|---|---|
|Activities to further the charity's objectives<br>Accountancy|**Total**<br>**2023**<br>**£**<br>394,587<br>1,638<br>396,225|**Total**<br>**2022**<br>**£**<br>410,648<br>1,572|
|||412,220|



£396,119 (2022 - £408,652) of the above expenditure was attributable to unrestricted funds and £106 (2022 - £3,568) to restricted funds. 

## **8 Government grants** 

Due to the Corona Virus pandemic the Ark Association received Job retention scheme grants in 2022. The amount of grants recognised in the financial statements was £- (2022 - ££1,666). 

## **9 Net incoming/outgoing resources** 

Net incoming/(outgoing) resources for the year include: 

|Depreciation of fixed assets|**2023**<br>**£**<br>6,533|**2022**<br>**£**<br>6,727|
|---|---|---|



Page 17 



## **The Ark Association** 

## **Notes to the Financial Statements for the Year Ended 31 March 2023** 

## **10 Trustees remuneration and expenses** 

During the year the charity made the following transactions with trustees: 

## **C McGrory** 

C McGrory received remuneration of £5,250 (2022: £16,566) during the year. 

The remuneration paid to C McGrory is payment for providing financial and business support. 

As the majority of Trustees received remuneration during the year authority was requested from the Charity Commission and the charity's articles of association have been updated and approved on 28 September 2023. 

## **Mary Darlington** 

Mary Darlington received remuneration of £Nil (2022: £24,618) during the year. 

No remuneration paid to M Darlington in the current year. The figure shown for the prior year represents salary payments made after becoming a trustee. 

No employer pension contributions were paid by the charity on behalf of M Darlington (2022 - £558.95). 

As the majority of Trustees received remuneration during the year authority was requested from the Charity Commission and the charity's articles of association have been updated and approved on 28 September 2023. 

## **Nicola Cowling** 

Nicola Cowling received remuneration of £18,974 (2022: £17,102) during the year. 

The remuneration paid to N Cowling is salary for her employment. The figure shown for the prior year represents salary payments made after becoming a trustee. 

Employer pension contributions of £569.30 were also paid by the charity on behalf of N Cowling (2022 - £513.13). 

As the majority of Trustees received remuneration during the year authority was requested from the Charity Commission and the charity's articles of association have been updated and approved on 28 September 2023. 

Page 18 



## **The Ark Association** 

## **Notes to the Financial Statements for the Year Ended 31 March 2023** 

## **Mica-Claire Foort** 

Mica-Claire Foort received remuneration of £23,493 (2022: £18,722) during the year. 

The remuneration paid to M Foort is salary for her employment. The figure shown for the prior year represents salary payments made after becoming a trustee. 

Employer pension contributions of £704.88 were also paid by the charity on behalf of M Foort (2022 - £561.75). 

As the majority of Trustees received remuneration during the year authority was requested from the Charity Commission and the charity's articles of association have been updated and approved on 28 September 2023. 

Page 19 



## **The Ark Association** 

## **Notes to the Financial Statements for the Year Ended 31 March 2023** 

## **11 Staff costs** 

The aggregate payroll costs were as follows: 

|**Staff costs during the year were:**<br>Wages and salaries<br>Social security costs<br>Pension costs<br>Other staff costs|**2023**<br>**£**<br>305,323<br>9,661<br>7,851<br>1,864<br>324,699|**2022**<br>**£**<br>301,379<br>10,799<br>7,623<br>1,542|
|---|---|---|
|||321,343|



The monthly average number of persons (including senior management team) employed by the charity during the year was as follows: 

|Nursery staff|**2023**<br>**No**<br>26|**2022**<br>**No**<br>25|
|---|---|---|



Contributions to the employee pension schemes for the year totalled £7,851 (2022 - £7,623). 

No employee received emoluments of more than £60,000 during the year. 

## **12 Independent examiner's remuneration** 

|**12 Independent examiner's remuneration**|||
|---|---|---|
||**2023**|**2022**|
||**£**|**£**|
|**Other fees to examiners**|||
|Examination-related assurance services|1,638|1,572|



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## **The Ark Association** 

## **Notes to the Financial Statements for the Year Ended 31 March 2023** 

## **13 Taxation** 

The charity is a registered charity and is therefore exempt from taxation. 

## **14 Tangible fixed assets** 

|**Cost**<br>At 1 April 2022<br>Additions<br>At 31 March 2023<br>**Depreciation**<br>At 1 April 2022<br>Charge for the year<br>At 31 March 2023<br>**Net book value**<br>At 31 March 2023<br>At 31 March 2022|**Land and**<br>**buildings**<br>**£**<br>182,914<br>-<br>182,914<br>14,278<br>2,858<br>17,136<br>165,778<br>168,636|**Furniture and**<br>**equipment**<br>**£**<br>30,090<br>829<br>30,919<br>20,172<br>1,904<br>22,076<br>8,843<br>9,918|**Motor**<br>**vehicles**<br>**£**<br>11,994<br>-<br>11,994<br>11,094<br>226<br>11,320<br>674<br>900|**Toys &**<br>**Equipment**<br>**£**<br>26,765<br>-<br>26,765<br>16,464<br>1,545<br>18,009<br>8,756<br>10,301|**Total**<br>**£**<br>251,763<br>829|
|---|---|---|---|---|---|
||||||252,592|
||||||62,008<br>6,533|
||||||68,541|
||||||184,051|
||||||189,755|



Included within the net book value of land and buildings above is £119,570 (2022 - £121,631) in respect of leasehold land and buildings and £46,209 (2022 - £47,005) in respect of improvements to property. 

## **15 Debtors** 

|Trade debtors<br>Prepayments|**2023**<br>**£**<br>274<br>3,313<br>3,587|**2022**<br>**£**<br>87<br>3,442|
|---|---|---|
|||3,529|



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## **The Ark Association** 

## **Notes to the Financial Statements for the Year Ended 31 March 2023** 

## **16 Creditors: amounts falling due within one year** 

|**16 Creditors: amounts falling due within one year**|||
|---|---|---|
|Trade creditors<br>Other creditors<br>Accruals<br>Deferred Income|**2023**<br>**£**<br>44<br>2,011<br>819<br>17,500<br>20,374|**2022**<br>**£**<br>876<br>(1)<br>2,874<br>17,500|
|||21,249|



## **17 Pension and other schemes** 

## **Defined contribution pension scheme** 

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £7,851 (2022 - £7,623) 

## **18 Funds** 

|**Unrestricted funds**<br>General<br>**Restricted funds**<br>**Total funds**<br>**Unrestricted funds**<br>General<br>**Restricted funds**<br>**Total funds**|**Balance at 1**<br>**April 2022**<br>**£**<br>208,716<br>703<br>£209,419<br>**Balance at 1**<br>**April 2021**<br>**£**<br>246,954<br>4,271<br>251,225|**Incoming**<br>**resources**<br>**£**<br>415,976<br>-<br>415,976<br>**Incoming**<br>**resources**<br>**£**<br>370,414<br>-<br>370,414|**Resources**<br>**expended**<br>**£**<br>(396,119)<br>(106)<br>(396,225)<br>**Resources**<br>**expended**<br>**£**<br>(408,652)<br>(3,568)<br>(412,220)|**Balance at 31**<br>**March 2023**<br>**£**<br>228,573<br>597|
|---|---|---|---|---|
|||||229,170|
|||||**Balance at 31**<br>**March 2022**<br>**£**<br>208,716<br>703|
|||||209,419|



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## **The Ark Association** 

## **Notes to the Financial Statements for the Year Ended 31 March 2023** 

## **19 Analysis of net assets between funds** 

|**19 Analysis of net assets between funds**||||
|---|---|---|---|
|Tangible fixed assets<br>Current assets<br>Current liabilities<br>Total net assets|**Unrestricted**<br>**funds**<br>**General**<br>**£**<br>183,454<br>65,495<br>(20,374)<br>228,575|**Restricted**<br>**funds**<br>**£**<br>597<br>-<br>-<br>597|**Total funds**<br>**£**<br>184,051<br>65,495<br>(20,374)|
||||229,172|



## **20 Related party transactions** 

During the year the charity made the following related party transactions: 

## **P A Palmer** 

(Father of Mica Foort) 

£500 was paid to Mr Palmer for the erection of some fencing at the Burley road site. 3 quotes were obtained for the work and M Foort abstained from any involvement in deciding who would win the contract.. At the balance sheet date the amount due to/from P A Palmer was £Nil (2022 - £Nil). 

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