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2022-08-31-accounts

Saplings Childrens Day Nursery Ltd

Charity No. 1144455

Company No. 07359750

Trustees' Report and Unaudited Accounts

31 August 2022

Saplings Childrens Day Nursery Ltd Contents

Pages
Trustees' Annual Report 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Summary Income and Expenditure Account 6
Balance Sheet 7
Statement of Cash flows 8
Notes to the Accounts 9 to 14
Detailed Statement of Financial Activities 15 to 16

Page 1

Saplings Childrens Day Nursery Ltd Trustees Annual Report

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 August 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 07359750

Charity No. 1144455

Principal Office

Cadlands Children's Centre Whitefield Road Holbury Southampton SO45 2HW

Registered Office

Cadlands Children's Centre Whitefield Road Holbury Southampton SO45 2HW

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

C. Adams (Resigned 10 December 2021) K. Cooper J. Jackson (Resigned 10 December 2021) D. Lavetiviti (Resigned 10 December 2021) K. Mellor (Resigned 10 December 2021) J. Pearce E. Pearson N. Smith (Resigned 21 November 2022)

Accountants

Roger Smallman & Co Ltd Suite 20

The Director General's House 15 Rockstone Place Southampton SO15 2EP

OBJECTIVES AND ACTIVITIES

Page 2

Saplings Childrens Day Nursery Ltd Trustees Annual Report

The purpose of the charity as set out in its governing document is to ensure the advancement and development of education and equal opportunity for all children aged under 5 years.

The main activities undertaken in relation to those purposes is providing childcare and early years education for the under 5's.

In all our work we (the trustees) have regard to the guidance issued by the Charity Commission on public benefit. Our main activity is to deliver, within our fully inclusive setting for 2-5 year olds, the Early Years Foundation Stage. We employ childcare managers and practitioners who jointly plan rich and fulfilling activities to meet the needs and interests of the children.

ACHIEVEMENTS AND PERFORMANCE

We have worked hard to establish a caring and fulfilling environment for the children where our parents feel comfortable leaving their child. We have worked with the Local authority and Advisory teachers to enhance the offering and provide every child with the best start to early years education.

FINANCIAL REVIEW

The nursery has moved in a positive direction this year, we have invested funds back into the nursery, to update and enhance the offering for the children. We’ve purchased new and engaging equipment to aid in the individual development of each child. We’ve updated vital IT equipment to streamline the operations and implemented a new invoicing system to allow better financial controls and reporting.

Saplings have a strong direction and a plan for the new financial year to continue investing back into the setting and growing the offering.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Saplings Children's Day Nursery is an incorporated charity and its governing document is its Memorandum and Articles of Association dated 27th August 2010

New trustees are recruited from parents of children at the preschool and are elected at the AGM.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

E. Pearson Trustee 25 January 2023

Page 3

Saplings Childrens Day Nursery Ltd Independent Examiners Report

Independent Examiner's Report to the trustees of Saplings Childrens Day Nursery Ltd

I report to the charity trustees on my examination of the financial statements of Saplings Childrens Day Nursery Ltd for the year ended 31 August 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

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 financial statements to be reached.

Mrs CC Gunning Chartered Accountant Roger Smallman & Co Ltd Suite 20 The Director General's House 15 Rockstone Place Southampton SO15 2EP 25 January 2023

Page 4

Saplings Childrens Day Nursery Ltd Statement of Financial Activities

for the year ended 31 August 2022

Notes
Income and endowments
from:
Donations and legacies
4
Charitable activities
5
Investments
6
Other
7
Total
Expenditure on:
Charitable activities
8
Other
9
Total
Net gains on investments
Net income
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2022
£
53
176,159
2
-		 Total funds
2022
£
53
176,159
2
-		 Total funds
2021
£
1
162,243
4
575
176,214
6,341
165,402		 176,214
6,341
165,402		 162,823
4,880
150,480
171,743
-		 171,743
-		 155,360
-
4,471
-		 4,471
-		 7,463
-
4,471 4,471 7,463
4,471
56,243		 4,471
56,243		 7,463
48,780
60,714 60,714 56,243

Page 5

Saplings Childrens Day Nursery Ltd Summary Income and Expenditure Account

for the year ended 31 August 2022

Income
Interest and investment income
Gross income for the year
Expenditure
Total expenditure for the year
Net income before tax for the year
Net income for the year		 2022
£
176,212
2
176,214
171,743
171,743
4,471
4,471		 2021
£
162,819
4
162,823
155,360
155,360
7,463
7,463

Page 6

Saplings Childrens Day Nursery Ltd Balance Sheet

at 31 August 2022

at 31 August 2022
Company No.
07359750
Notes
2022
£
Current assets
Debtors
11
(291)
Cash at bank and in hand
66,136
65,845
Creditors:Amount falling due within one year
12
(5,131)
Net current assets
60,714
Total assets less current liabilities
60,714
Net assets excluding pension asset or liability
60,714
Total net assets
60,714
The funds of the charity
Restricted funds
13
Unrestricted funds
13
General funds
60,714
60,714
Reserves
13
Total funds
60,714		 2021
£
120
60,610
60,730
(4,487)
56,243
56,243
56,243
56,243
56,243
56,243
56,243

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 August 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 25 January 2023

And signed on its behalf by:

E. Pearson

Trustee 25 January 2023

Page 7

Saplings Childrens Day Nursery Ltd Statement of Cash flows for the year ended 31 August 2022

Cash flows from operating activities
Net income per Statement of Financial Activities
Adjustments for:
Dividends, interest and rents from investments
Decrease in trade and other receivables
Increase/(Decrease) in trade and other payables
Net cash provided by operating activities
Cash flows from investing activities
Dividends, interest and rents from investments
Net cash from investing activities
Net cash from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Components of cash and cash equivalents
Cash and bank balances		 2022
£
4,471
(2)
411
468
5,348
2
2
-
5,350
60,610
65,960
66,136
66,136		 2021
£
7,463
(579)
2,265
(6,831)
2,318
579
579
-
2,897
57,713
60,610
60,610
60,610

Page 8

Saplings Childrens Day Nursery Ltd Notes to the Accounts

for the year ended 31 August 2022

Basis of preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.

Income

Page 9

Saplings Childrens Day Nursery Ltd Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, raising funds fundraising trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities charitable activities and services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 10

Saplings Childrens Day Nursery Ltd Notes to the Accounts

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

3 Statement of Financial Activities - prior year

Income and endowments from:
Donations and legacies
Charitable activities
Investments
Other
Total
Expenditure on:
Charitable activities
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2021
£
1
162,243
4
575
162,823
4,880
150,480
155,360
7,463
7,463
7,463
48,780
56,243		 Total funds
2021
£
1
162,243
4
575
162,823
4,880
150,480
155,360
7,463
7,463
7,463
48,780
56,243

4 Income from donations and legacies

Donations Unrestricted
£
53
53		 Total
2022
£
53
53		 Total
2021
£
1
1

Page 11

Saplings Childrens Day Nursery Ltd Notes to the Accounts

5 Income from charitable activities

5
Income from charitable activities
Nursery fees
Early Years funding
Other fees
6
Income from investments
Interest
7
Other income
Grants
8
Expenditure on charitable activities
Expenditure on charitable
activities
Nursery fees
Early Years funding
Governance costs
9
Other expenditure
Employee costs
Premises costs
General administrative costs
Legal and professional costs		 Unrestricted
£
64,462
111,179
518
176,159
Unrestricted
£
2
2
Unrestricted
£
5,006
1,335
6,341
Unrestricted
£
136,523
20,026
5,858
2,995
165,402		 Total
2022
£
64,462
111,179
518
176,159
Total
2022
£
2
2
Total
2022
£
-
-		 Total
2021
£
50,096
110,124
2,023
162,243
Total
2021
£
4
4
Total
2021
£
575
575
Total
2022
£
5,006
1,335
6,341
Total
2022
£
136,523
20,026
5,858
2,995
165,402		 Total
2021
£
4,880
-
4,880
Total
2021
£
125,081
19,544
3,571
2,284
150,480

Page 12

Saplings Childrens Day Nursery Ltd Notes to the Accounts

10 Staff costs
2022
Salaries and wages
132,543
Pension costs
1,516
134,059
No employee received emoluments in excess of £60,000.
The average monthly number of full time equivalent employees during the
2022
Number
Nursery
10
10
11 Debtors
2022
£
Other debtors
(291)
(291)
12 Creditors:
amounts falling due within one year
2022
£
Other taxes and social security
363
Other creditors
2,106
Accruals
2,662
Deferred income
-
5,131
13 Movement in funds
At 1
September
2021
Incoming
resources
(including
other
gains/losses)
£
Restricted funds:
Unrestricted funds:
General funds
56,243
176,214
Total funds
56,243
176,214
14 Analysis of net assets between funds
Net current assets		 2021
123,216
1,663
124,879
year was as follows:
2021
Number
10
10
2021
£
120
120
2021
£
390
-
2,486
1,611
4,487
Resources
expended
At 31
August
2022
£
£
(171,743)
60,714
(171,743)
60,714
Unrestricted
funds
Total
£
£
60,714
60,714
60,714
60,714		 2021
123,216
1,663
124,879
10
2021
£
120
120
2021
£
390
-
2,486
1,611
4,487
At 31
August
2022
£
60,714
60,714
Total
£
60,714
60,714

Page 13

Saplings Childrens Day Nursery Ltd Notes to the Accounts

15 Reconciliation of net debt

Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 1
September
2021
£		 Cash flows
£		 At 31
August
2022
£
60,610 5,526 66,136
60,610
60,610		 5,526
5,526		 66,136
66,136
Commitments
Operating lease commitments
Annual commitments under non-cancellable operating leases are as follows:
2022
2022
2021
Land and
buildings
Other
Land and
buildings
£
£
£
Operating leases with expiry date:
Pension commitments
2022
£
The pension cost charge to the company
amounted to:
1,516		 2021
Other
£
2021
£
1,663

16 Commitments

17 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 14

Saplings Childrens Day Nursery Ltd Detailed Statement of Financial Activities

for the year ended 31 August 2022

Income and endowments from:
Donations and legacies
Donations
Charitable activities
Nursery fees
Early Years funding
Other fees
Investments
Interest
Other
Grants
Total income and endowments
Expenditure on:
Charitable activities
Nursery fees
Early Years funding
Total of expenditure on charitable
activities
Employee costs
Salaries/wages
Pension costs
Staff training
Staff welfare
Premises costs
Rent
Light, heat and power
Premises cleaning
Premises repairs and
maintenance
General administrative costs,
including depreciation and
amortisation		 Unrestricted
funds
2022
£
53
53
64,462
111,179
518
176,159
2
2
-
-
176,214
5,006
1,335
6,341
6,341
132,543
1,516
1,046
1,418
136,523
8,505
4,567
1,152
5,802
20,026		 Total funds
2022
£
53
53
64,462
111,179
518
176,159
2
2
-
-
176,214
5,006
1,335
6,341
6,341
132,543
1,516
1,046
1,418
136,523
8,505
4,567
1,152
5,802
20,026		 Total funds
2021
£
1
1
50,096
110,124
2,023
162,243
4
4
575
575
162,823
4,880
-
4,880
4,880
123,216
1,663
-
202
125,081
10,132
3,675
2,931
2,806
19,544

Page 15

Saplings Childrens Day Nursery Ltd Detailed Statement of Financial Activities

Bank charges
Equipment expensed
General insurances
Information and publications
Software, IT support and related
costs
Stationery and printing
Subscriptions
Sundry expenses
Legal and professional costs
Accountancy and bookkeeping
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Net income before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 169
1,247
579
258
2,740
288
389
188
5,858
2,040
955
2,995
165,402
171,743
-
4,471
4,471
-
4,471
56,243
60,714		 169
1,247
579
258
2,740
288
389
188
5,858
2,040
955
2,995
165,402
171,743
-
4,471
4,471
-
4,471
56,243
60,714		 -
826
520
-
311
1,190
665
59
3,571
2,077
207
2,284
150,480
155,360
-
7,463
7,463
-
7,463
48,780
56,243

Page 16