REGISTERED CHARITY NUMBER: 1142064
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 May 2023
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 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Statement of Financial Activities | 2 | ||
| Balance Sheet | 3 | ||
| Notes to the Financial Statements | 4 | to | 7 |
| Detailed Statement of Financial Activities | 8 |
MAAHAD NEIGHBOURHOOD NURSERY
Report of the Trustees FOR THE YEAR ENDED 31 MAY 2023
The trustees present their report with the financial statements of the charity for the year ended 31 May 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
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
53 Fishwick Parade Preston Lancashire PR1 4XR
Trustees
S Y Umar Z Desai E Desai
Approved by order of the board of trustees on 16 March 2024 and signed on its behalf by:
S Y Umar - Trustee
Page 1
MAAHAD NEIGHBOURHOOD NURSERY
Statement of Financial Activities FOR THE YEAR ENDED 31 MAY 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Provision of Services 66,335 EXPENDITURE ON Charitable activities Provision of Services 62,244 Management and Administration 13,378 Total 75,622 NET INCOME/(EXPENDITURE) (9,287) RECONCILIATION OF FUNDS Total funds brought forward 25,457 TOTAL FUNDS CARRIED FORWARD 16,170 |
2022 Total funds £ 54,778 56,046 10,482 66,528 (11,750) 37,207 25,457 |
|---|---|
The notes form part of these financial statements
Page 2
MAAHAD NEIGHBOURHOOD NURSERY
Balance Sheet 31 MAY 2023
| 2023 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 4 229 CURRENT ASSETS Debtors 5 51,288 Cash at bank and in hand 36,677 87,965 CREDITORS Amounts falling due within one year 6 (72,024) NET CURRENT ASSETS 15,941 TOTAL ASSETS LESS CURRENT LIABILITIES 16,170 NET ASSETS/(LIABILITIES) 16,170 FUNDS 7 Unrestricted funds 16,170 TOTAL FUNDS 16,170 |
2022 Total funds £ 342 51,106 36,357 87,463 (62,348) 25,115 25,457 25,457 25,457 25,457 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 16 March 2024 and were signed on its behalf by:
S Y Umar - 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 2023
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.
Computer Equipment - 33% reducing balance
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.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension
scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 4
MAAHAD NEIGHBOURHOOD NURSERY
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MAY 2023
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2023 nor for the year ended 31 May 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2023 nor for the year ended 31 May 2022.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
4.
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Charitable activities | |
| Provision of Services | 54,778 |
| EXPENDITURE ON | |
| Charitable activities | |
| Provision of Services | 56,046 |
| Management and Administration | 10,482 |
| Total | 66,528 |
| NET INCOME/(EXPENDITURE) | (11,750) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 37,207 |
| TOTAL FUNDS CARRIED FORWARD | 25,457 |
| TANGIBLE FIXED ASSETS | |
| Computer | |
| equipment | |
| £ | |
| COST | |
| At 1 June 2022 and 31 May 2023 | 1,696 |
| DEPRECIATION | |
| At 1 June 2022 | 1,354 |
| Charge for year | 113 |
| At 31 May 2023 | 1,467 |
| NET BOOK VALUE | |
| At 31 May 2023 | 229 |
| At 31 May 2022 | 342 |
Page 5
continued...
MAAHAD NEIGHBOURHOOD NURSERY
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MAY 2023
5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2023 | 2022 | |||
|---|---|---|---|---|
| £ | £ | |||
| Other debtors | 50,000 | 50,000 | ||
| Prepayments | 1,288 | 1,106 | ||
| 51,288 | 51,106 | |||
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | ||
| 2023 | 2022 | |||
| £ | £ | |||
| Trade creditors | - | 268 | ||
| Taxation and social security | 193 | 50 | ||
| Other creditors | 71,831 | 62,030 | ||
| 72,024 | 62,348 | |||
| 7. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1/6/22 | in funds | 31/5/23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 25,457 | (9,287) | 16,170 | |
| TOTAL FUNDS | 25,457 | (9,287) | 16,170 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 66,335 | (75,622) | (9,287) | |
| TOTAL FUNDS | 66,335 | (75,622) | (9,287) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1/6/21 | in funds | 31/5/22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 37,207 | (11,750) | 25,457 | |
| TOTAL FUNDS | 37,207 | (11,750) | 25,457 |
Page 6
continued...
MAAHAD NEIGHBOURHOOD NURSERY
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MAY 2023
7. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 54,778 | (66,528) | (11,750) |
| TOTAL FUNDS | 54,778 | (66,528) | (11,750) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1/6/21 | in funds | 31/5/23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 37,207 | (21,037) | 16,170 |
| TOTAL FUNDS | 37,207 | (21,037) | 16,170 |
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 | 121,113 | (142,150) | (21,037) |
| TOTAL FUNDS | 121,113 | (142,150) | (21,037) |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 May 2023.
Page 7
MAAHAD NEIGHBOURHOOD NURSERY
Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 MAY 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Charitable activities | ||
| Student Fees | 66,335 | 54,778 |
| Total incoming resources | 66,335 | 54,778 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 48,208 | 43,507 |
| Pensions | (42) | 18 |
| Purchases | 2,017 | 1,395 |
| Computer equipment | 113 | 168 |
| 50,296 | 45,088 | |
| Support costs | ||
| Management | ||
| Rent | 10,000 | 10,000 |
| Rates and water | 1,679 | 990 |
| Insurance | 637 | 272 |
| Light and heat | 2,721 | 2,608 |
| Telephone | 843 | 713 |
| Postage and stationery | 23 | 31 |
| Sundries | 648 | 324 |
| Repairs and Maintenance | 3,425 | 4,008 |
| Donations | 2,250 | - |
| Training | 1,300 | 634 |
| 23,526 | 19,580 | |
| Governance costs | ||
| Accountancy and legal fees | 1,800 | 1,860 |
| Total resources expended | 75,622 | 66,528 |
| Net expenditure | (9,287) | (11,750) |
This page does not form part of the statutory financial statements
Page 8