REGISTERED CHARITY NUMBER: 1142064
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
FOR
MAAHAD NEIGHBOURHOOD NURSERY
SKM Chartered Accountants Pegasus House 5 Winckley Court Mount Street Preston Lancashire PR1 8BU
MAAHAD NEIGHBOURHOOD NURSERY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Statement of Financial Activities | 2 | ||
| Balance Sheet | 3 | ||
| Notes to the Financial Statements | 4 | to | 8 |
| Detailed Statement of Financial Activities | 9 |
MAAHAD NEIGHBOURHOOD NURSERY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2021
The trustees present their report with the financial statements of the charity for the year ended 31 May 2021. 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1142064
Principal address
9-11 Holmrook Road Preston Lancashire PR1 6SR
Trustees
S Y Umar Z Desai E Desai
Approved by order of the board of trustees on 12 December 2021 and signed on its behalf by:
Trustee
Page 1
MAAHAD NEIGHBOURHOOD NURSERY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies (1) Charitable activities Provision of Services 68,290 Management and Administration - Other income 293 Total 68,582 EXPENDITURE ON Charitable activities Provision of Services 32,796 Management and Administration 8,513 Total 41,309 NET INCOME/(EXPENDITURE) 27,273 RECONCILIATION OF FUNDS Total funds brought forward 9,934 TOTAL FUNDS CARRIED FORWARD 37,207 |
2020 Total funds £ - 34,006 3,378 - 37,384 39,177 12,525 51,702 (14,318) 24,252 9,934 |
|---|---|
The notes form part of these financial statements
Page 2
MAAHAD NEIGHBOURHOOD NURSERY
BALANCE SHEET 31 MAY 2021
| 2021 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 4 510 CURRENT ASSETS Debtors 5 962 Cash at bank and in hand 85,763 86,725 CREDITORS Amounts falling due within one year 6 (50,028) NET CURRENT ASSETS 36,697 TOTAL ASSETS LESS CURRENT LIABILITIES 37,207 NET ASSETS 37,207 FUNDS 7 Unrestricted funds 37,207 TOTAL FUNDS 37,207 |
2020 Total funds £ 761 643 56,367 57,010 (47,837) 9,173 9,934 9,934 9,934 9,934 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 12 December 2021 and were signed on its behalf by:
Trustee
The notes form part of these financial statements
Page 3
MAAHAD NEIGHBOURHOOD NURSERY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
continued...
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MAAHAD NEIGHBOURHOOD NURSERY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2021
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2021 nor for the year ended 31 May 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2021 nor for the year ended 31 May 2020.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Charitable activities | |
| Provision of Services | |
| 34,006 | |
| Management and Administration | 3,378 |
| Total | 37,384 |
| EXPENDITURE ON | |
| Charitable activities | |
| Provision of Services | |
| 39,177 | |
| Management and Administration | 12,525 |
| Total | 51,702 |
| NET INCOME/(EXPENDITURE) | (14,318) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 24,252 |
| TOTAL FUNDS CARRIED FORWARD | 9,934 |
Page 5
continued...
MAAHAD NEIGHBOURHOOD NURSERY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2021
| 4. | TANGIBLE FIXED ASSETS | |||
|---|---|---|---|---|
| Computer | ||||
| equipment | ||||
| £ | ||||
| COST | ||||
| At 1 June 2020 and 31 May 2021 | 1,696 | |||
| DEPRECIATION | ||||
| At 1 June 2020 | 935 | |||
| Charge for year | 251 | |||
| At 31 May 2021 | 1,186 | |||
| NET BOOK VALUE | ||||
| At 31 May 2021 | 510 | |||
| At 31 May 2020 | 761 | |||
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Prepayments | 962 | 643 | ||
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Trade creditors | (246) | (1) | ||
| Taxation and social security | (289) | (1,637) | ||
| Other creditors | 50,563 | 49,475 | ||
| 50,028 | 47,837 | |||
| 7. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At | 1/6/20 | in funds | 31/5/21 | |
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 9,934 | 27,273 | 37,207 | |
| TOTAL FUNDS | 9,934 | 27,273 | 37,207 |
Page 6
continued...
MAAHAD NEIGHBOURHOOD NURSERY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2021
7. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 68,582 | (41,309) | 27,273 |
| TOTAL FUNDS | 68,582 | (41,309) | 27,273 |
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1/6/19 | in funds | 31/5/20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 24,252 | (14,318) | 9,934 |
| TOTAL FUNDS | 24,252 | (14,318) | 9,934 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 37,384 | (51,702) | (14,318) |
| TOTAL FUNDS | 37,384 | (51,702) | (14,318) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1/6/19 | in funds | 31/5/21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 24,252 | 12,955 | 37,207 |
| TOTAL FUNDS | 24,252 | 12,955 | 37,207 |
continued...
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MAAHAD NEIGHBOURHOOD NURSERY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2021
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 105,966 | (93,011) | 12,955 |
| TOTAL FUNDS | 105,966 | (93,011) | 12,955 |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 May 2021.
Page 8
MAAHAD NEIGHBOURHOOD NURSERY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | (1) | - |
| Charitable activities | ||
| Student Fees | 68,290 | 37,384 |
| Other income | ||
| Sundry Receipts | 293 | - |
| Total incoming resources | 68,582 | 37,384 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 18,507 | 27,179 |
| Purchases | 3,090 | 604 |
| Computer equipment | 251 | 375 |
| 21,848 | 28,158 | |
| Support costs | ||
| Management | ||
| Rent | 10,000 | 10,000 |
| Rates and water | 1,268 | 1,288 |
| Insurance | 251 | 247 |
| Light and heat | 816 | 2,836 |
| Telephone | 389 | 796 |
| Postage and stationery | 423 | 370 |
| Advertising | 150 | - |
| Sundries | 798 | 1,128 |
| Repairs and Maintenance | 3,506 | 569 |
| 17,601 | 17,234 | |
| Finance | ||
| Bank charges | - | 10 |
| Governance costs | ||
| Theft | - | 4,500 |
| Accountancy and legal fees | 1,860 | 1,800 |
| 1,860 | 6,300 | |
| Total resources expended | 41,309 | 51,702 |
| Net income/(expenditure) | 27,273 | (14,318) |
This page does not form part of the statutory financial statements
Page 9