## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023**
## **FOR**
**ROOSE NURSERY**
**ROOSE NURSERY**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023**
|||**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|to|13|
**ROOSE NURSERY**
## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2023**
**TRUSTEES** Mrs S Biddle Mrs J Redhead Mrs V Bell **PRINCIPAL ADDRESS** Roose Nursery North Row Barrow-in-Furness Cumbria LA13 0HF **REGISTERED CHARITY** 1142844 **NUMBER INDEPENDENT EXAMINER** Mr J F Hornby FCA 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 2023**
The trustees present their report with the financial statements of the charity for the year ended 31 July 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).
## **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 Early Years 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. The trustees have had regard to the Charity Commissions guidance on public benefit.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The nursery continues to be a busy setting serving the local community and surrounding areas. The nursery continues to have a substantial waiting list and good levels in all rooms.
We are still dealing with situations from the fall out of the Covid 19 pandemic. We are seeing an increase in numbers of parental mental health issues - One action we have put in place is to employ a nursery counsellor who works from the nursery 1 session per week (3.5 hours). By employing the counsellor, we are able to target support as and when needed for the children, parent/carers and family groups.
We have continued to purchase outdoor equipment to enhance the outdoor play areas. We have also enhanced our IT resources, we now have an independent network to the nursery and we have purchased a laptop for all members of staff and an iPad for management after the year end.
We have invested in an online tool secure system (CPOMS) to record welfare and safeguarding concerns.
## **FINANCIAL REVIEW**
## **Financial position**
The financial position of the Nursery is strong. Income levels have returned to normal levels post pandemic. Nursery fees and grants provide a total income of £277,602. Nursery expenses are £305,825.Overall there was a net deficit contribution to reserves of £28,223.
Page 2
**ROOSE NURSERY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023**
## **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 develop our outdoor play equipment on the field adding climbing frames and a trim trail.
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 further develop our outdoor provision adding an outdoor sensory area to the provision. This equipment will further enhance the children's physical and sensory needs.
We also plan on creating a standalone sensory room within the grounds of the nursery garden.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust dated 22nd June 2011 and constitutes an unincorporated charity.
## **Safeguarding of Young People**
All of the trustees, staff and volunteers hold valid certificates from the Disclosure and Barring Service.
Approved by order of the board of trustees on 19 July 2024 and signed on its behalf by:
Mrs V Bell - 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 2023.
## **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 member of the 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 The Institute of Chartered Accountants in England and Wales
Mr J F Hornby FCA The Tower Daltongate Business Centre Daltongate Ulverston Cumbria LA12 7AJ Date: .............................................
Page 4
## **ROOSE NURSERY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023**
|31.7.23
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
1,500
**Charitable activities**
Nursery
275,537
Investment income
2
565
**Total**
277,602
**EXPENDITURE ON**
**Charitable activities**
Nursery
305,825
**NET INCOME/(EXPENDITURE)**
(28,223)
**RECONCILIATION OF FUNDS**
Total funds brought forward
175,860
**TOTAL FUNDS CARRIED FORWARD**
147,637|31.7.22
Total
funds
£
-
267,278
34|
|---|---|
||267,312|
||267,228|
||84
175,776|
||175,860|
The notes form part of these financial statements
Page 5
## **ROOSE NURSERY**
## **BALANCE SHEET 31 JULY 2023**
|31.7.23
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
6
19,805
**CURRENT ASSETS**
Debtors
7
2,000
Cash in hand
134,490
136,490
**CREDITORS**
Amounts falling due within one year
8
(8,658)
**NET CURRENT ASSETS**
127,832
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
147,637
**NET ASSETS**
147,637
**FUNDS**
9
Unrestricted funds
147,637
**TOTAL FUNDS**
147,637|31.7.22
Total
funds
£
17,931
2,000
162,129
164,129
(6,200)
157,929
175,860
175,860
175,860
175,860|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 19 July 2024 and were signed on its behalf by:
Mrs V Bell - Trustee
The notes form part of these financial statements
Page 6
**ROOSE NURSERY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 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.
Improvements to property - 20% on cost Plant and machinery - 20% on cost Computer equipment - 33% 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.
continued...
Page 7
**ROOSE NURSERY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023**
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||31.7.23|31.7.22|
||£|£|
|Deposit account interest|565|34|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
An employee and a member of the senior management team is also a trustee and received a salary in the band of £20,000 to £30,000 and pension contributions of 3% in the year for their services as a manager. Including a member of the senior management team on the board of trustees improves the decision making by the board. The employee would be excluded from any trustee discussions directly concerning their employment.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 July 2023 nor for the year ended 31 July 2022.
## **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**|31.7.23
31.7.22
16
15
1
1
17
16
Unrestricted
fund
£
267,278
34
267,312
267,228
84
175,776
175,860|31.7.23
31.7.22
16
15
1
1
17
16
Unrestricted
fund
£
267,278
34
267,312
267,228
84
175,776
175,860|
|---|---|---|
|||267,312|
|||267,228|
|||84
175,776|
|||175,860|
## **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 2023**
## **6. TANGIBLE FIXED ASSETS**
|Improvements
to
Plant and
property
machinery
£
£
**COST**
At 1 August 2022
13,366
17,064
Additions
-
11,977
At 31 July 2023
13,366
29,041
**DEPRECIATION**
At 1 August 2022
8,020
5,064
Charge for year
2,673
7,109
At 31 July 2023
10,693
12,173
**NET BOOK VALUE**
At 31 July 2023
2,673
16,868
At 31 July 2022
5,346
12,000
**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Taxation and social security
Other creditors
**9.**
**MOVEMENT IN FUNDS**
At 1.8.22
£
**Unrestricted funds**
General fund
175,860
**TOTAL FUNDS**
175,860|Computer
equipment
£
1,721
369
2,090
1,136
690
1,826
264
585
31.7.23
£
2,000
31.7.23
£
4,962
3,696
8,658
Net
movement
in funds
£
(28,223)
(28,223)|Totals
£
32,151
12,346
44,497
14,220
10,472
24,692
19,805
17,931
31.7.22
£
2,000
31.7.22
£
2,986
3,214
6,200
At
31.7.23
£
147,637|Totals
£
32,151
12,346|
|---|---|---|---|
||||44,497|
||||14,220
10,472|
||||24,692|
||||19,805|
||||17,931|
|||147,637||
continued...
Page 9
**ROOSE NURSERY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023**
## **9. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
277,602
277,602|Resources
Movement
expended
in funds
£
£
(305,825)
(28,223)
(305,825)
(28,223)|Resources
Movement
expended
in funds
£
£
(305,825)
(28,223)
(305,825)
(28,223)|
|---|---|---|---|
||||(28,223)|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.8.21
£
175,776
175,776|Net
movement
in funds
£
84
84|At
31.7.22
£
175,860|
|---|---|---|---|
||||175,860|
Comparative net movement in funds, included in the above are as follows:
|Incoming
resources
£
**Unrestricted funds**
General fund
267,312
**TOTAL FUNDS**
267,312
A current year 12 months and prior year 12 months combined position is as follows:
At 1.8.21
£
**Unrestricted funds**
General fund
175,776
**TOTAL FUNDS**
175,776|Resources
Movement
expended
in funds
£
£
(267,228)
84
(267,228)
84
Net
movement
At
in funds
31.7.23
£
£
(28,139)
147,637
(28,139)
147,637|Resources
Movement
expended
in funds
£
£
(267,228)
84
(267,228)
84
Net
movement
At
in funds
31.7.23
£
£
(28,139)
147,637
(28,139)
147,637|
|---|---|---|
|||84|
|||At
31.7.23
£
147,637|
|||147,637|
continued...
Page 10
**ROOSE NURSERY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023**
## **9. 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:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
544,914
544,914|Resources
Movement
expended
in funds
£
£
(573,053)
(28,139)
(573,053)
(28,139)|
|---|---|---|
## **10. RELATED PARTY DISCLOSURES**
An employee, related to one of the trustees by marriage, received a salary in the band of £0 to £10,000 and pension contributions of 3% in the year.
Page 11
## **ROOSE NURSERY**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023**
||31.7.23|31.7.22|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Grants|1,500|-|
|**Investment income**|||
|Deposit account interest|565|34|
|**Charitable activities**|||
|Fees|99,233|111,600|
|Donations|18|-|
|Grants|176,286|155,678|
||275,537|267,278|
|**Total incoming resources**|277,602|267,312|
|**EXPENDITURE**|||
|**Support costs**|||
|**Management**|||
|Wages|211,566|199,199|
|Social security|7,458|6,304|
|Pensions|4,385|5,341|
|Rates and water|774|569|
|Insurance|1,754|1,736|
|Postage and stationery|123|-|
|Advertising|-|300|
|Sundries|960|788|
|Rent|13,338|15,561|
|School lunches|13,304|6,066|
|Repairs and maintenance|746|569|
|Membership and subscriptions|1,497|844|
|Health and safety|434|603|
|Resources|13,465|10,262|
|Trips|1,681|1,871|
|Uniforms|616|606|
|Training|2,325|784|
|Computer expenses|19,332|6,571|
||293,758|257,974|
|**Finance**|||
|Improvements to property|2,673|2,673|
|Plant and machinery|7,109|4,115|
|Computer equipment|690|568|
||10,472|7,356|
|**Governance costs**|||
|Accountancy and legal fees|1,595|1,898|
This page does not form part of the statutory financial statements
Page 12
## **ROOSE NURSERY**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023**
||31.7.23|31.7.22|
|---|---|---|
||£|£|
|Total resources expended|305,825|267,228|
|**Net (expenditure)/income**|(28,223)|84|
This page does not form part of the statutory financial statements
Page 13