Saplings Childrens Day Nursery Ltd
Charity No. 1144455
Company No. 07359750
Trustees' Report and Unaudited Accounts
31 August 2024
Saplings Childrens Day Nursery Ltd Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 2 to 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 2024.
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:
K. Cooper
L. Eaton
A. Mill
J. Pearce
E. Pearson
==> picture [298 x 86] intentionally omitted <==
Accountants
Roger Smallman & Co Ltd Suite 20
The Director General's House
15 Rockstone Place
Southampton SO15 2EP
OBJECTIVES AND ACTIVITIES
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.
Page 2
Saplings Childrens Day Nursery Ltd Trustees Annual Report
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
Last year was a very positive one for us in the setting. After a disappointing Ofsted in the previous inspection when we were revisited in March to receive a Good rating just consolidated the hard work that the Directors and Management team have put in over the last 12 months.
FINANCIAL REVIEW
To aid us in achieving the Good rating we have invested in the infrastructure and equipment within the setting. We have really focused on equipment that will benefit the children and aid in the continued development of each age range.
This Good rating has only further cemented our position and the direction for growth that Saplings is aiming for over the next 5 years.
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 18 March 2025
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 2024.
Responsibilities and basis of report
As the charity's trustees of the company (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:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Carole Gunning ICAEW Roger Smallman & Co Ltd Suite 20
The Director General's House 15 Rockstone Place Southampton SO15 2EP 18 March 2025
Page 4
Saplings Childrens Day Nursery Ltd Statement of Financial Activities
for the year ended 31 August 2024
| Notes Income and endowments from: Donations and legacies 4 Charitable activities 5 Total Expenditure on: Charitable activities 6 Other 7 Total Net gains on investments Net expenditure Transfers between funds Net expenditure 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 2024 £ 16 178,233 |
Total funds 2024 £ 16 178,233 |
Total funds 2023 £ 3 216,534 |
|---|---|---|---|
| 178,249 6,447 210,309 |
178,249 6,447 210,309 |
216,537 10,579 212,812 |
|
| 216,756 - |
216,756 - |
223,391 - |
|
| (38,507) - |
(38,507) - |
(6,854) - |
|
| (38,507) | (38,507) | (6,854) | |
| (38,507) 53,860 |
(38,507) 53,860 |
(6,854) 60,714 |
|
| 15,353 | 15,353 | 53,860 |
Page 5
Saplings Childrens Day Nursery Ltd Summary Income and Expenditure Account
for the year ended 31 August 2024
| Income Gross income for the year Expenditure Interest payable Total expenditure for the year Net expenditure before tax for the year Net expenditure for the year |
2024 £ 178,249 178,249 216,754 2 216,756 (38,507) (38,507) |
2023 £ 216,537 |
|---|---|---|
| 216,537 | ||
| 223,388 3 |
||
| 223,391 | ||
| (6,854) | ||
| (6,854) |
Page 6
Saplings Childrens Day Nursery Ltd Balance Sheet
at 31 August 2024
| at 31 August 2024 | |
|---|---|
| Company No. 07359750 Notes 2024 £ Current assets Debtors 9 1,626 Cash at bank and in hand 15,333 16,959 Creditors:Amount falling due within one year 10 (1,606) Net current assets 15,353 Total assets less current liabilities 15,353 Net assets excluding pension asset or liability 15,353 Total net assets 15,353 The funds of the charity Restricted funds 11 Unrestricted funds 11 General funds 15,353 15,353 Reserves 11 Total funds 15,353 |
2023 £ 369 56,035 |
| 56,404 (2,544) |
|
| 53,860 53,860 |
|
| 53,860 | |
| 53,860 | |
| 53,860 | |
| 53,860 | |
| 53,860 |
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 2024 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 18 March 2025
And signed on its behalf by:
E. Pearson
Trustee
18 March 2025
Page 7
Saplings Childrens Day Nursery Ltd Statement of Cash flows for the year ended 31 August 2024
| Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Increase in trade and other receivables Decrease in trade and other payables Net cash used in operating activities Net cash from investing activities Net cash from financing activities Net decrease 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 Bank overdrafts |
2024 £ (38,507) (1,257) (901) (40,665) - - (40,665) 55,506 14,841 15,333 (492) 14,841 |
2023 £ (6,854) (369) (1,666) |
|---|---|---|
| (8,889) | ||
| - | ||
| - | ||
| (8,889) | ||
| 65,845 | ||
| 56,956 | ||
| 56,035 | ||
| (529) | ||
| 55,506 |
Page 8
Saplings Childrens Day Nursery Ltd Notes to the Accounts
for the year ended 31 August 2024
- 1 Accounting policies
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.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
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 which expenditure 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, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities 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.
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.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 10
Saplings Childrens Day Nursery Ltd Notes to the Accounts
3 Statement of Financial Activities - prior year
| 3 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Donations and legacies Charitable activities 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 4 Income from donations and legacies Donations 5 Income from charitable activities Nursery fees Early Years funding Other fees |
Unrestricted £ 16 16 Unrestricted £ 55,647 122,347 239 178,233 |
Unrestricted funds 2023 £ 3 216,534 216,537 10,579 212,812 223,391 (6,854) (6,854) (6,854) 60,714 53,860 Total 2024 £ 16 16 Total 2024 £ 55,647 122,347 239 178,233 |
Total funds 2023 £ 3 216,534 |
| 216,537 10,579 212,812 |
|||
| 223,391 | |||
| (6,854) | |||
| (6,854) | |||
| (6,854) 60,714 |
|||
| 53,860 | |||
| Total 2023 £ 3 |
|||
| 3 | |||
| Total 2023 £ 80,874 134,673 987 |
|||
| 216,534 |
Page 11
Saplings Childrens Day Nursery Ltd Notes to the Accounts
6 Expenditure on charitable activities
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | £ | ||
| Expenditure on charitable | ||||
| activities | ||||
| Nursery fees | 6,413 | 6,413 | 10,579 | |
| Early Years funding | 34 | 34 | - | |
| Governance costs | ||||
| 6,447 | 6,447 | 10,579 | ||
| 7 | Other expenditure | |||
| Unrestricted | Total | Total | ||
| 2024 | 2023 | |||
| £ | £ | £ | ||
| Bank loan and overdraft interest payable |
2 | 2 | 3 | |
| Employee costs | 177,692 | 177,692 | 176,883 | |
| Premises costs | 22,968 | 22,968 | 27,366 | |
| General administrative costs | 4,512 | 4,512 | 7,349 | |
| Legal and professional costs | 5,135 | 5,135 | 1,211 | |
| 210,309 | 210,309 | 212,812 | ||
| 8 | Staff costs | |||
| 2024 | 2023 | |||
| Salaries and wages | 169,330 | 171,209 | ||
| Pension costs | 2,109 | 1,541 | ||
| 171,439 | 172,750 | |||
| No employee received emoluments in excess of £60,000. | ||||
| The average monthly number | of full time equivalent employees during the year | was as follows: | ||
| 2024 | 2023 | |||
| Number | Number | |||
| Nursery | 10 | 10 | ||
| 10 | 10 | |||
| 9 | Debtors | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Trade debtors | 1,626 | 369 | ||
| 1,626 | 369 |
Page 12
Saplings Childrens Day Nursery Ltd Notes to the Accounts
| 10 Creditors: amounts falling due within one year Bank loans and overdrafts Other taxes and social security Accruals 11 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds 12 Analysis of net assets between funds Net current assets 13 Reconciliation of net debt Cash and cash equivalents Net debt |
At 1 September 2023 53,860 53,860 |
2024 £ 492 (100) 1,214 1,606 Incoming resources (including other gains/losses ) £ 178,249 178,249 At 1 September 2023 £ |
Resources expended £ (216,756) (216,756) Unrestricted funds £ 15,353 15,353 Cash flows £ |
2023 £ 529 803 1,212 |
|---|---|---|---|---|
| 2,544 | ||||
| At 31 August 2024 £ 15,353 |
||||
| 15,353 | ||||
| Total £ 15,353 |
||||
| 15,353 | ||||
| At 31 August 2024 £ |
||||
| 56,035 | (40,702) | 15,333 | ||
| 56,035 56,035 |
(40,702) (40,702) |
15,333 | ||
| 15,333 |
Page 13
Saplings Childrens Day Nursery Ltd Notes to the Accounts
14 Commitments
Operating lease commitments
Annual commitments under non-cancellable operating leases are as follows:
| 2024 | 2024 | 2023 | 2023 | |
|---|---|---|---|---|
| Land and buildings |
Other | Land and buildings |
Other | |
| £ | £ | £ | £ | |
| Operating leases with expiry date: | ||||
| Pension commitments | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| The pension cost charge to the company | ||||
| amounted to: | 2,109 | 1,541 |
15 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 2024
| Income and endowments from: Donations and legacies Donations Charitable activities Nursery fees Early Years funding Other fees Total income and endowments Expenditure on: Charitable activities Nursery fees Early Years funding Total of expenditure on charitable activities Other expenditure Bank loan and overdraft interest payable 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 Bank charges Equipment expensed General insurances |
Unrestricted funds 2024 £ 16 16 55,647 122,347 239 178,233 178,249 6,413 34 6,447 6,447 2 2 169,330 2,109 5,559 694 177,692 12,335 8,066 1,424 1,143 22,968 470 - 954 |
Total funds 2024 £ 16 16 55,647 122,347 239 178,233 178,249 6,413 34 6,447 6,447 2 2 169,330 2,109 5,559 694 177,692 12,335 8,066 1,424 1,143 22,968 470 - 954 |
Total funds 2023 £ 3 |
|---|---|---|---|
| 3 | |||
| 80,874 134,673 987 |
|||
| 216,534 | |||
| 216,537 10,579 - |
|||
| 10,579 | |||
| 10,579 3 |
|||
| 3 | |||
| 171,209 1,541 2,173 1,960 |
|||
| 176,883 | |||
| 8,230 8,268 979 9,889 |
|||
| 27,366 | |||
| 355 2,463 689 |
Page 15
Saplings Childrens Day Nursery Ltd Detailed Statement of Financial Activities
| Information and publications Software, IT support and related costs Stationery and printing Subscriptions Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Consultancy fees Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
72 1,455 618 910 13 20 4,512 2,735 2,400 5,135 210,309 216,756 - (38,507) (38,507) - (38,507) 53,860 15,353 |
72 1,455 618 910 13 20 4,512 2,735 2,400 5,135 210,309 216,756 - (38,507) (38,507) - (38,507) 53,860 15,353 |
- 1,130 1,801 703 208 - |
|---|---|---|---|
| 7,349 | |||
| 1,211 - |
|||
| 1,211 | |||
| 212,812 | |||
| 223,391 - |
|||
| (6,854) | |||
| (6,854) - |
|||
| (6,854) | |||
| 60,714 | |||
| 53,860 |
Page 16