## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **FOR**
**ROOSE NURSERY**
**ROOSE NURSERY**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||1||
|**Report of the Trustees**|2|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**||6||
|**Notes to the Financial Statements**|7|to|11|
|**Detailed Statement of Financial Activities**||12||
**ROOSE NURSERY**
## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2020**
|**TRUSTEES**|Mrs S Nicholson|
|---|---|
||Mrs S Biddle|
||Mrs J Redhead|
|**PRINCIPAL ADDRESS**|Roose Nursery|
||North Row|
||Barrow-in-Furness|
||Cumbria|
||LA13 0HF|
|**REGISTERED CHARITY**|1142844|
|**NUMBER**||
|**INDEPENDENT EXAMINER**|J F Hornby & Co|
||Chartered Accountants|
||The Tower|
||Daltongate Business Centre|
||Daltongate|
||Ulverston|
||Cumbria|
||LA12 7AJ|
|**BANKERS**|The Co-operative Bank|
||Business Direct|
||PO Box 250|
||Skelmersdale|
||WN8 6WT|
Page 1
**ROOSE NURSERY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2020**
The trustees present their report with the financial statements of the charity for the year ended 31 July 2020. 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).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The aim of the group shall be to serve the local community by offering nursery places to children aged 3 months to 5 years to enhance the development and education of children primarily under statutory school age by encouraging parents to understand and provide for the needs of their children through the early years foundation stage curriculum:
(a) Offering appropriate play, education and care facilities, family learning and extended hours groups, together with the right of parents to take responsibility for and to become involved in the activities of such groups, ensuring that such groups offer opportunities for all children whatever their race, culture, religion, means or ability.
(b) Encouraging the study of the needs of such children and their families and promoting public interest in and recognition of such needs in the local areas.
(c) Instigating and adhering to and furthering the aims and objects of the pre-school learning alliance.
The charity is constituted as an unincorporated charity and is controlled by its governing document.
The Nursery serves the local community but does not apply any form of restriction, geographical or otherwise to allow access to its services. The Nursery's educational operations are regulated by Ofsted and Cumbria County Council. The Nursery is currently rated as 'Outstanding' by Ofsted.
## **Public benefit**
The services offered by the Trustees of the Nursery are deemed to be beneficial by their nature and are available to a large section of the public.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
This year has been the hardest year since the Nursery opened in 2011. We have been unable to forecast or predict what each term would bring with regards to staff and children. However, when the Nursery was open, we continued to run successfully and were able to support all the needs that came to light.
The numbers of registered children were at the same levels as any other year, although applications for the year 2021/22 were slow. Since restrictions have eased we have seen an uptake in applications.
The Nursery is currently full and has a substantial waiting list.
A main change to the Nursery setting has been the building of a nursery office. This is used by all members of staff, giving them the opportunity to have a break in a quiet place away from work.
As the Nursery is returning to normal we are aware that COVID has had an impact on child and adult mental health. We are also aware that some of these issues have not been exposed yet and will become more apparent in the coming months.
## **FINANCIAL REVIEW**
## **Financial position**
The financial position of the Nursery is strong. There has been a downward trend in income from Nursery fees and grants in the year due to the impact of Covid-19. Both income streams provide a total income of £292k. Nursery expenses dropped to £235k mainly due to the Nursery being closed for part of the year. However, there was still a net surplus contribution to reserves of £56k.
Page 2
**ROOSE NURSERY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2020**
## **FINANCIAL REVIEW**
## **Reserves policy**
Since 2011 we have always worked on the principle that the Nursery has at least 6 months' financial reserve and we will continue to do this.
Any additional money is to support the growth and development of the Nursery setting. Our main target is to create a wellbeing hut which will provide a safe place for children, families and staff as and when needed.
We also plan on developing and equipping a large play area for our 2 year old setting.
We will continue to provide the resources to meet the needs of our children.
## **Going concern**
The purpose of the Nursery's reserve is to provide sufficient protection for the Nursery against changing financial circumstances and to support future business development to enable the Nursery to continue to fulfil its principal purpose. The level of general reserves as reflected in Note 9 to the financial statements is represented by tangible assets and net current assets and is considered sufficient for the Nursery to meet its short to medium term expenditure obligations. The Nursery's cash reserves significantly outweigh its short and long term liabilities.
The Trustees have a reasonable expectation that the Nursery has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
## **FUTURE PLANS**
The main target for the future is to create a wellbeing hut which will provide a safe place for children, families and staff as and when needed.
We also plan on developing and equipping a large play area for our 2 year old setting.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Approved by order of the board of trustees on 12 May 2021 and signed on its behalf by:
Mrs S Nicholson - Trustee
Page 3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ROOSE NURSERY**
## **Independent examiner's report to the trustees of Roose Nursery**
I report to the charity trustees on my examination of the accounts of Roose Nursery (the Trust) for the year ended 31 July 2020.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr J F Hornby, FCA Institute of Chartered Accountants in England and Wales J F Hornby & Co Chartered Accountants The Tower Daltongate Business Centre Daltongate Ulverston Cumbria LA12 7AJ
12 May 2021
Page 4
**ROOSE NURSERY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2020**
|31.7.20
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Nursery
295,535
Investment income
2
470
**Total**
296,005
**EXPENDITURE ON**
**Charitable activities**
Nursery
239,790
**NET INCOME**
56,215
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
130,295
**TOTAL FUNDS CARRIED FORWARD**
186,510|31.7.19
Total
funds
£
314,522
98|
|---|---|
||314,620
252,000|
||62,620
67,675|
||130,295|
The notes form part of these financial statements
Page 5
## **ROOSE NURSERY**
## **BALANCE SHEET 31 JULY 2020**
|31.7.20
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
6
12,072
**CURRENT ASSETS**
Debtors
7
3,156
Cash in hand
173,773
176,929
**CREDITORS**
Amounts falling due within one year
8
(2,491)
**NET CURRENT ASSETS**
174,438
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
186,510
**NET ASSETS**
186,510
**FUNDS**
9
Unrestricted funds
186,510
**TOTAL FUNDS**
186,510|31.7.19
Total
funds
£
-
-
130,295|
|---|---|
||130,295
-|
||130,295|
||130,295|
||130,295|
||130,295|
||130,295|
The financial statements were approved by the Board of Trustees and authorised for issue on 12 May 2021 and were signed on its behalf by:
Mrs S Nicholson - Trustee
The notes form part of these financial statements
Page 6
**ROOSE NURSERY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **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.
Improvements to property - 20% on cost Plant and machinery - 20% on cost
## **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.
## **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.
## **Change of accounting policies.**
The finance statements have, from 1 August 2019 been prepared on an accruals basis. The turnover being in excess of £250,000. The comparative figures for the previous year are on the receipts and payments basis.
continued...
Page 7
**ROOSE NURSERY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020**
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||31.7.20|31.7.19|
||£|£|
|Deposit account interest|470|98|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 July 2020 nor for the year ended 31 July 2019.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 July 2020 nor for the year ended 31 July 2019.
## **4. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|Nursery Staff
Manager
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Nursery
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Nursery
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|31.7.20
31.7.19
15
15
2
2
17
17
Unrestricted
fund
£
314,522
98
314,620
252,000
62,620
67,675
130,295|31.7.20
31.7.19
15
15
2
2
17
17
Unrestricted
fund
£
314,522
98
314,620
252,000
62,620
67,675
130,295|
|---|---|---|
|||314,620
252,000|
|||62,620
67,675|
|||130,295|
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
continued...
Page 8
**ROOSE NURSERY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020**
## **6. TANGIBLE FIXED ASSETS**
|Improvements
to
property
£
**COST**
Additions
13,366
**DEPRECIATION**
Charge for year
2,673
**NET BOOK VALUE**
At 31 July 2020
10,693
At 31 July 2019
-
**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**9.**
**MOVEMENT IN FUNDS**
At 1.8.19
£
**Unrestricted funds**
General fund
130,295
**TOTAL FUNDS**
130,295
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
296,005
**TOTAL FUNDS**
296,005|Plant and
machinery
Totals
£
£
1,724
15,090
345
3,018
1,379
12,072
-
-
31.7.20
31.7.19
£
£
3,156
-
31.7.20
31.7.19
£
£
2,491
-
Net
movement
At
in funds
31.7.20
£
£
56,215
186,510
56,215
186,510
Resources
Movement
expended
in funds
£
£
(239,790)
56,215
(239,790)
56,215|
|---|---|
continued...
Page 9
**ROOSE NURSERY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020**
## **9. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|||Net||
|---|---|---|---|
|||movement|At|
||At 1.8.18|in funds|31.7.19|
||£|£|£|
|**Unrestricted funds**||||
|General fund|67,675|62,620|130,295|
|**TOTAL FUNDS**|67,675|62,620|130,295|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
314,620
314,620|Resources
Movement
expended
in funds
£
£
(252,000)
62,620
(252,000)
62,620|Resources
Movement
expended
in funds
£
£
(252,000)
62,620
(252,000)
62,620|
|---|---|---|---|
||||62,620|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.8.18
£
67,675
67,675|Net
movement
in funds
£
118,835
118,835|At
31.7.20
£
186,510|
|---|---|---|---|
||||186,510|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
610,625
610,625|Resources
Movement
expended
in funds
£
£
(491,790)
118,835
(491,790)
118,835|Resources
Movement
expended
in funds
£
£
(491,790)
118,835
(491,790)
118,835|
|---|---|---|---|
||||118,835|
continued...
Page 10
**ROOSE NURSERY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020**
## **10. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 July 2020.
Page 11
**ROOSE NURSERY**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2020**
||31.7.20|31.7.19|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Investment income**|||
|Deposit account interest|470|98|
|**Charitable activities**|||
|Fees|99,106|155,841|
|Grants|196,429|158,681|
||295,535|314,522|
|**Total incoming resources**|296,005|314,620|
|**EXPENDITURE**|||
|**Support costs**|||
|**Management**|||
|Wages|191,673|195,915|
|Social security|4,036|-|
|Pensions|4,887|-|
|Insurance|1,610|-|
|Telephone|334|-|
|Advertising|378|-|
|Sundries|287|-|
|Rent|-|24,981|
|School lunches|5,958|-|
|Repairs and maintenance|1,411|-|
|Membership and subscriptions|1,492|-|
|Health and safety|42|-|
|Resources|13,349|31,104|
|Trips|745|-|
|Uniforms|627|-|
|Training|757|-|
|Computer expenses|7,406|-|
||234,992|252,000|
|**Finance**|||
|Improvements to property|2,673|-|
|Plant and machinery|345|-|
||3,018|-|
|**Governance costs**|||
|Accountancy and legal fees|1,780|-|
|Total resources expended|239,790|252,000|
|**Net income**|56,215|62,620|
This page does not form part of the statutory financial statements
Page 12