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2021-03-31-accounts

Valens House 132A Upper Tulse Hill London SW2 2RX Telephone: 020 8674 7804 Fax: 020 8674 6790 Email: info@happynurserydays.org.uk www.happynurserydays.org.uk

HAPPY NURSERY DAYS (TULSE HILL) LIMITED

(Limited by Guarantee)

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Company Registration Number: 05190165 Charity Registration Number: 1143765

A subsidiary of

Ofsted Registration Number EY287358

HAPPY NURSERY DAYS (TULSE HILL) LIMITED (A Company limited by Guarantee)

Financial Statements

FOR YEAR ENDED 31 MARCH 2021

Contents Page
Legal and Administrative Information 3-4
Trustees’ Report 5-8
Report of the Auditors 9-11
Statement of Financial Activities
(Incorporating the Income and Expenditure Account) 12
Balance Sheet 13
Notes to the Financial Statements 14-21

2

HAPPY NURSERY DAYS (TULSE HILL) LIMITED LEGAL AND ADMINISTRATIVE INFORMATION FOR YEAR ENDED 31 MARCH 2021

The Members of the Board of Management who served from 1 April 2020 to the date the Financial Statements were signed were as follows: -

BOARD OF MANAGEMENT AND SHAREHOLDERS

Michelle Nelson Chairperson Leanne Donald-Whitney Vice Chair Tanya Srikandan Treasurer Elaine Marshall Board Member Gordon Mattocks Board Member (Resigned 19/12/2020) Melissa Madjitey Board Member Jamie Houlders Board Member Kate Parsley Board Member (Joined 03/12/2020)

None of the Board of Management members had any interest in any contract or arrangement with Ekaya Housing Association Limited.

The directors of the charitable company are its Trustees for the purposes of charity law. The Trustees who have served from 1 April 2020 up to the date of approval of these financial statements were as follows:

TRUSTEES

Ben Laryea – Chief Executive Andrew Furtek – Head of Operations Maggie Scarlett

CHIEF EXECUTIVE AND SECRETARY

Ben Laryea - Chief Executive Nana Amfo - Secretary

AUDIT & RISK COMMITTEE

Tanya Srikandan (Chairperson) Gordon Mattocks (Resigned 19/12/20) Michelle Nelson Elaine Marshall

POLICY & PERFORMANCE COMMITTEE

Melissa Madjitey (Chairperson) Leanne Donald-Whitney Jamie Houlders Kate Parsley

3

HAPPY NURSERY DAYS (TULSE HILL) LIMITED LEGAL AND ADMINISTRATIVE INFORMATION FOR YEAR ENDED 31 MARCH 2021

BANKERS

National Westminster Bank plc 504 Brixton Road London SW9 5EB

SOLICITORS

Devonshires 30 Finsbury Circus London EC2M 7DT

Lloyds Bank plc 25 Gresham Street London EC2V 7HN

EXTERNAL AUDITORS

Beever and Struthers Chartered Accountants 15 Bunhill Row London EC1Y 8LP

REGISTERED OFFICE

Valens House 132A Upper Tulse Hill London SW2 2RX

INTERNAL AUDITORS

Knox Cropper Chartered Accountants 8-9 Well Court London EC4M 9DN

4

HAPPY NURSERY DAYS (TULSE HILL) LIMITED TRUSTEES’ REPORT FOR YEAR ENDED 31 MARCH 2021

The Trustees present their report and the audited financial statements of the charity for the year ended 31 March 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) published in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and the Companies Act 2006 in preparing the annual report and financial statements of the charity.

Our Aims and Objectives

Purposes and Aims

The charity’s purposes as set out in the objects contained in the company’s memorandum of association are:

For the public benefit to advance the development and education of children in such ways as the Directors think fit, including:

Public Benefit

We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. The charity provides parents in and around the community with much needed childcare to enable them to go to work or for further studies. Anyone is allowed to use our services subject to adherence to our policies. We are also registered to allocate free 15 to 30 hours per week for children between the ages of 2-4, which is allocated on a first come first served basis, subject to availability . We are pursuing grants to assist with the training of individuals to enable them to find work, which will be open to anyone from the public.

Financial Review

The nursery had a surplus of £21,660 for 2020/21 (2019/20: £40,992). Occupancy rates for the nursery in its age ranges dropped due to the Covid-19 to around 57% (2019/20: 85%) take-up of available places .

The following are the principal risks and uncertainties:

Staff salary costs decreased by £5,600 to £314,989 in 2020/21 (2019/20: £320,589) due to some staff being furloughed.

Achievements and Performance

The 20/21 monetary investment in the nursery has meant that essential health and safety have been completed recently, and standards were maintained, and we continue to be a ‘Good’ Ofsted rated nursery. This has allowed the nursery to maintain its customer base and attract new parents, but Covid-19, was a very challenging environment There is an on-going improvement plan that strives to improve the current Ofsted rating from ‘Good’ to ‘Outstanding. In order to achieve we have introduced a policy of reviewing fees periodically, and improving pay and remuneration for staff as well as investing in staff training and investment to create ideal conditions for expanding nursery numbers. In addition, surpluses realised are used to continue to maintain and improve operational standards, childcare and the building facilities.

5

HAPPY NURSERY DAYS (TULSE HILL) LIMITED TRUSTEES’ REPORT FOR YEAR ENDED 31 MARCH 2021

Principal Funding Sources

The charity’s main source of funding is from fees from parents or carers for the use of the nursery. It also receives funding from the Nursery Education Fund.

Reserves Policy

The Trustees review the reserves of the charity in light of the main risks to the organisation. The review encompasses the nature of the income and expenditure stream. The Trustees acknowledged that due to the current economic climate it could be faced with default on fee payments resulting in bad debt write-offs, negatively affecting the reserves. The reserves in 2021 were £169.4k (2020: £144.7k). There was an improvement in 2021 reserve due to income higher than expenditure in 2020/21 and control of the expenditure. It is the Trustees’ policy to generally maintain reserves at a low level and to apply nursery income to funding its activities. In light of the income generated, the Trustees consider the balance of the unrestricted funds to be satisfactory in meeting the nursery obligations should potential liabilities arise.

A robust arrears management system is now in place, this has reduced the arrears significantly. The introduction of the 15 and 30 hours grant from the Local authority have improved income coupled with a good Ofsted rating.

Plans for Future Periods

Management have put in place a robust improvement plan to increase the occupancy rate to 85% in the future. As a result of obtaining the ‘Good’ Ofsted rating the nursery has access to the government grant funding for 2 to 4 year olds and has put in place a marketing plan to attract more 2-4 year olds to increase occupancy from the current to 85% occupancy rate.

6

HAPPY NURSERY DAYS (TULSE HILL) LIMITED TRUSTEES’ REPORT (Continued) FOR YEAR ENDED 31 MARCH 2021

Structure, Governance and Management

Governing Document

The organisation is a charitable company limited by guarantee, registered on 27 July 2004 and registered as a charity on 12 September 2011. The charity was established under a revised Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

Recruitment and Appointment of Management Committee

The members of the Management Committee of the company are also charity Trustees for the purposes of charity law and under the company’s Articles are known as members of the Trustees Board. Under the requirements of the memorandum and Articles of Association, the members of the Trustees Board are elected by Ekaya and shall not be required to retire by rotation.

All members of the management committee give their time voluntarily and receive no benefits from the charity. Any expenses reimbursed are disclosed in the notes.

Induction and Training of new Trustees

Most Trustees and Management Committee members are familiar with the practical work of the nursery and are encouraged to take training to support their role. New Management Committee members are invited and encouraged to attend induction sessions to familiarise themselves with the charity and the context within which it operates.

Organisational Structure

The Management Committee meets quarterly where a quarterly performance report is presented and discussed; this assists the committee in making the appropriate strategic decisions. Ben Laryea, the Chief Executive Officer, and Andrew Furtek, Head of Operations for Ekaya, are both Trustees of Happy Nursery Days. The nursery manager has responsibility for the day-to-day operational management of the nursery supported by the deputy nursery manager. There are weekly group room meetings and eight weekly general staff meetings. The nursery manager has responsibility for all staff supervision and ensuring that the team continues to develop their skills and working practices in line with good practice.

Risk Management

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.

Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures and risk assessments are in place to ensure compliance with health and safety of staff, trainees, volunteers, children, parent or carers and visitors to the nursery.

Related Parties

Insofar as it is complementary to the charity’s objectives, the charity is guided by both national and local policy. At national level, the nursery is a registered provider of free 15 to 30 hours per week services for children between the ages 3-4 years old and adheres to Ofsted’s regulatory regime. At local level, the nursery manager attends a variety of meetings in respect of Children and Young People’s forums put on by the local authority.

7

HAPPY NURSERY DAYS (TULSE HILL) LIMITED TRUSTEES’ REPORT (Continued) FOR YEAR ENDED 31 MARCH 2021

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also directors of Happy Nursery Days (Tulse Hill) Limited for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that 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.

STATEMENT OF DISCLOSURE OF INFORMATION TO AUDITORS

We, the directors of the company who held office at the date of approval of these Financial Statements as set out above each confirm, so far as we are aware, that:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption.

This report was approved for issue by the Trustees on 23 /09 /2021 and signed on its behalf by:

Ben Laryea (Sep 23, 2021, 8:41pm) Ben Laryea TRUSTEE

8

REPORT OF THE AUDITORS TO THE MEMBERS OF

HAPPY NURSERY DAYS (TULSE HILL) LIMITED

Opinion

We have audited the financial statements of Happy Nursery Days (Tulse Hill) Limited (the ‘charitable company’) for the year ended 31 March 2021 which comprise the Statement of Financial Activities (incorporating the Income and Expenditure Account), the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies in note 1. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the Trustees’ Report, other than the financial statements and our auditor’s report thereon. The Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact.

We have nothing to report in this regard.

9

REPORT OF THE AUDITORS TO THE MEMBERS OF

HAPPY NURSERY DAYS (TULSE HILL) LIMITED

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Statement of Trustees’ Responsibilities set out on page 8, the Trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or taken together, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and addressing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

10

REPORT OF THE AUDITORS TO THE MEMBERS OF

HAPPY NURSERY DAYS (TULSE HILL) LIMITED

Extent to which the audit was considered capable of detecting irregularities, including fraud (continued)

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body for our audit work, for this report, or for the opinions, we have formed.

Beever and Struthers 15 Bunhill Row Chartered Accountants London Statutory Auditor EC1Y 8LP

Date: 29 September 2021

Beever and Struthers is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

11

HAPPY NURSERY DAYS (TULSE HILL) LIMITED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR YEAR ENDED 31 MARCH 2021

Notes
Income and endowments from:
Administration fees
Other income
Investment income
Charitable activities:
Nursery fees
Nursery education fund
Total income and endowments
2
Expenditure on:
Raising funds
Charitable activities
Total expenditure:
3
Net income / (expenditure)
4
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
2021
£
Restricted
Funds
2021
£
Total
Funds
2021
£
Total
Funds
2020
£
620
-
620
770
5764
-
5764
3,099
59
-
59
306
-
-
-
-
222,383
-
222,383
299,774
209,068
-
209,068
195,868
437,894
-
437,894
499,817
-
-
-
-
416,234
-
416,234
458,825
416,234
-
416,234
458,825
21,660
-
21,660
40,992
21,660
-
21,660
40,992
147,740
-
147,740
106,748
169,400
-
169,400
147,740

All of the above results are derived from continuing activities. All gains and losses recognised in the year are included above. The notes to the financial statements on pages 14 to 21 form an integral part of the financial statements.

12

HAPPY NURSERY DAYS (TULSE HILL) LIMITED BALANCE SHEET AS AT 31 MARCH 2021 COMPANY NUMBER: 05190165

Notes
Fixed assets
Tangible fixed assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors
Amounts falling due within one year
12
Net current assets
Total assets less current
liabilities
Total Net Assets
13
Unrestricted funds
14
Restricted funds
Total Funds		 2021
£
2020
£
14,096
17,688
13,526
5,931
195,647
163,338
209,173
169,269
(53,869)
(39,217)
155,304
130,052
169,400
147,740
169,400
147,740
169,400
147,740
-
-
169,400
147,740

For the year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies but the Trustees’ have elected to have an audit under the Charities Act 2011.

Directors’ responsibilities:

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

The financial statements on pages 12 to 21 were approved and authorised for issue by the Trustees on XX XX 2021 23/09/ and signed on their behalf, by:

Ben Laryea (Sep 23, 2021, 8:41pm) Ben Laryea TRUSTEE

The notes to the financial statements on pages 14 to 21 form an integral part of the financial statements.

13

HAPPY NURSERY DAYS (TULSE HILL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

a) Legal status

Happy Nursery Days (Tulse Hill) Limited is a charitable company incorporated in England under the Companies Act 2006. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is Valens House 132A Upper Tulse Hill, London, SW2 2RX.

b) Basis of accounting

The charity constitutes a public benefit entity as defined by FRS 102.The financial statements have been prepared in accordance with Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice.

The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.

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

The Trustees have taken advantage of the exemption from including a Statement of Cash Flows as per paragraph 1.12 of FRS 102 in the financial statements as the consolidated financial statements of Ekaya Housing Association Limited, 145 Stockwell Road, London SW9 9TN (Registered Society Number 25683R) are publicly available.

c) Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Tangible fixed assets. Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

d) Turnover

Turnover comprises the invoiced value of goods and services supplied by the charity.

e) Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor.

f) Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy

g) Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred.

14

HAPPY NURSERY DAYS (TULSE HILL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES (CONTINUED)

h) Depreciation

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value of each asset over its expected useful life, which is as follows:

Leasehold improvement Furniture, Fittings and Office equipment

20% per annum on cost 20% per annum on cost

i) Taxation

By virtue of S.478 Corporation Tax Act 2010, the charitable company is exempt from corporation tax.

j) Value Added Tax (VAT)

The charity is not VAT registered. The balances shown in these financial statements are inclusive of VAT where applicable.

k) Financial instruments

Financial instruments held by Happy Nursery Days (Tulse Hill) Limited are classified as follows:

l) Impairments

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

m) Status

The charity is a company registered in England, limited by guarantee and has no share capital. Each member’s liability is limited to £1 and at the balance sheet, date there was 1 member (2020: 1).

15

HAPPY NURSERY DAYS (TULSE HILL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

2. INCOMING RESOURCES FROM ACTIVITIES TO FURTHER THE CHARITY’S OBJECTS

Nursery fees
Nursery education fund
Administration fees
Other income		 Unrestricted
2021
£
Restricted
2021
£
Total
2021
£
Total
2020
£
222,383
-
222,383
299,774
209,068
-
209,068
195,868
620
-
620
770
5,823
-
5,823
3,405
437,894
-
437,894
499,817

3. TOTAL RESOURCES EXPENDED

Fund-raising costs
Management and administration		 Activities
undertaken
directly
£
Support
costs
£
Allocated
costs
£
Total
2021
£
Total
2020
£
-
-
-
-
-
314,989
101,245
-
416,234
458,825
314,989
101,245
-
416,234
458,825

4. NET (EXPENDITURE) / INCOME FOR THE YEAR

Net (expenditure) / income for the year is stated after charging:

Internal Audit
Auditors’ remuneration
Depreciation		 2021
2020
£
£
-
-
4,000
4,000
3,592
12,508

5A. STAFF COSTS

Salaries and wages
Social security costs
Pension costs		 2021
2020
£
£
287,443
289,182
14,353
16,833
13,193
14,574
314,989
320,589

No staff members received remuneration in excess of £60,000 during the year.

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

16

HAPPY NURSERY DAYS (TULSE HILL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

5B. SUPPORT COSTS

Depreciation
Repair
Utilities and stationery
Management Fee
Consultant Fee
Governance
Agency Staff Costs
Management Costs
GOVERNANCE COSTS
Auditors Fees
Training		 2021
2020
£
£
3,592
8,905
8,783
20,702
9,870
15,820
25,000
20,000

2,553
2,158
5,136
5,140

1,852
18,109

44,459
47,402
101,245
138,236

2021
£
4,000
1,140
2020
£
4,000
1,140
5,140
5,140

6. EMPLOYEES

The average number of employees during the year as well as the average number of full-time equivalents was as follows:

2021 2020
Number Number
Average number of full-time equivalents employees - 14 15
charitable activities
Average number of employees - charitable activities 17 18

17

HAPPY NURSERY DAYS (TULSE HILL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

7. TRUSTEE REMUNERATION AND RELATED PARTY TRANSACTIONS

All key management personnel costs including Trustees and the Management Committee are borne by the parent. The consolidated financial statements of Ekaya Housing Association Limited are publicly available from 145 Stockwell Road, London SW9 9TN (Registered Society Number 25683R).

8. INVESTMENT INCOME

Interest receivable
9.
FINANCIAL INSTRUMENTS
The Charity’s financial instruments may be analysed as follows
Financial Assets
Financial Assets measured at cost:
Cash and cash equivalents
Financial assets measured at amortised cost:
Trade debtors
Total Financial Assets
Financial Liabilities
Financial liabilities measured at amortised cost:
Trade creditors
Other creditors
Total financial liabilities		 2021
2020
£
£
59
306
2021
2020
£
£
195,647
163,338
13,526
5,931
209,173
169,269
18,081
8,057
35,788
31,160
53,869
39,217

18

HAPPY NURSERY DAYS (TULSE HILL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

10. TANGIBLE FIXED ASSETS

Leasehold
improvements
Furniture fittings
and equipment
Total
£
£
£
Cost
At 1 April 2020
13,735
63,360
77,095
Additions
-
-
-
Disposal
(13,735)
(40,000)
(53,735)
At 31 March 2021
-
23,360
23,360
Depreciation
At 1 April 2020
13,199
46,208
59,407
Disposal
(13,735)
(40,000)
(53,735)
Charge for the year
536
3,056
3,592
At 31 March 2021
-
9,264
9,264
Net book value
At 31 March 2021
-
14,096
14,096
At 31 March 2020
536
17,152
17,688
11. DEBTORS
2021
2020
£
£
Trade debtors
11,780
5,931
Other debtors and prepayments
1,746
-
13,526
5,931
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
2020
£
£
Trade creditors
18,081
8,057
Social security and other taxes
3,403
6,686
Amounts due to parent undertakings
28,068
3,333
Other creditors
4,317
21,141
53,869
39,217		 Leasehold
improvements
Furniture fittings
and equipment
Total
£
£
£
13,735
63,360
77,095
-
-
-
(13,735)
(40,000)
(53,735)		 Leasehold
improvements
Furniture fittings
and equipment
Total
£
£
£
13,735
63,360
77,095
-
-
-
(13,735)
(40,000)
(53,735)
-
23,360
23,360
13,199
46,208
59,407
(13,735)
(40,000)
(53,735)
536
3,056
3,592
-
9,264
9,264
-
14,096
14,096
536
17,152
17,688
2021
2020
£
£
11,780
5,931
1,746
-
13,526
5,931
53,869
39,217

The balance due to the parent undertakings represents expenditure incurred on behalf of the charity.

19

HAPPY NURSERY DAYS (TULSE HILL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

13. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets
Current assets
Cash at bank and in hand
Current liabilities		 General Funds
Restricted Funds
Total Funds
£
£
£
14,096
-
14,096
13,526
-
13,526
195,647
-
195,647
(53,869)
-
(53,869)
169,400
-
169,400

14. MOVEMENT IN FUNDS

Unrestricted funds
Restricted funds		 At 1 April
2020
Incoming
resources
Outgoing
resources
Transfers
At 31 March
2021
£
£
£
£
£
147,740
437,893
(416,233)
-
169,400
-
-
-
-
-
147,740
437,893
(416,233)
-
169,400

15. RELATED PARTY TRANSACTIONS

At the 31st March 2021, Happy Nursery Days Ltd was a subsidiary of Ekaya Housing Association Limited who has full controlling powers over it. Ekaya, 145 Stockwell Road, London SW9 9TN, manages the affairs of Happy Nursery days.

The principal activities of the Association are the provision, management and maintenance of permanent housing and supported accommodation to black and minority ethnic (BME) female led households and single mothers who are in need of affordable accommodation.

In the course of normal operations, related party transactions entered into by the Group have contracted on an arms-length basis. The balance due at the year-end to the parent was £20,067 (2020: £3,333). The intercompany amounts are unsecured.

2021
 2020
£
 £
Management charge in the period 25,000 20,000

16. CAPITAL COMMITMENTS

There were no capital commitments as at 31[st] March 2021 (2020: None).

17. LEASE COMMITMENTS

There were no lease commitments as at 31[st] March 2021 (2020: None).

20

HAPPY NURSERY DAYS (TULSE HILL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

18. TAXATION

By virtue of S.478 Corporation Tax Act 2010, the charitable company is exempt from corporation tax.

19. ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

Happy Nursery Days (Tulse Hill) Limited is a wholly owned subsidiary of Ekaya Housing Association Limited, a Registered Society with registration number 25683R which is the ultimate controlling party. Its Registered Office is 145 Stockwell Road, London SW9 9TN. The ultimate controlling parties are the Board Members of Ekaya Housing Association Limited who are supported by the Trustees of Happy Nursery Days (Tulse Hill) Limited.

21

Issuer

Issuer Ekaya Housing Association Document generated Thu, 23rd Sep 2021 15:20:28 BST Document fingerprint b9cba7ff6dcafb5ad9d8223ec506a54e

Parties involved with this document

Document processed

Party + Fingerprint

Thu, 23rd Sep 2021 20:41:51 BST Ben Laryea - Signer (20b7aa18cae13204dec5bb9bfbb08cbf) Audit history log Date Action Thu, 23rd Sep 2021 20:41:51 BST The envelope has been signed by all parties. (89.197.125.248) Thu, 23rd Sep 2021 20:41:51 BST Ben Laryea signed the envelope. (89.197.125.248) Thu, 23rd Sep 2021 20:34:01 BST Ben Laryea viewed the envelope. (89.197.125.248) Thu, 23rd Sep 2021 15:21:33 BST Document emailed to ben.laryea@ekaya.co.uk (3.8.185.154) Thu, 23rd Sep 2021 15:21:32 BST Sent the envelope to Ben Laryea (ben.laryea@ekaya.co.uk) for signing. (89.197.125.248) Thu, 23rd Sep 2021 15:20:57 BST Ben Laryea has been assigned to this envelope (89.197.125.248) Thu, 23rd Sep 2021 15:20:42 BST Document generated with fingerprint b9cba7ff6dcafb5ad9d8223ec506a54e (89.197.125.248) Thu, 23rd Sep 2021 15:20:28 BST Envelope generated by Michael Aigbukor (89.197.125.248)