Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C Company registration number.. 7668404 Charity number.. 1144850 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) MENZIES BRIGHTER THINKING
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) CONTENTS Page Reference and Administrative Details of the Company. its Trustees and Advisers Trustees. Report Independent Examiner's Report Statement of Financial Activitles Balance Sheet Notes to the Flnanclal Statements 10-18
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2020 Trustees Mr M Brown Mrs J Buick Mrs D Browne Company registered number 7668404 Charity r•gist•rèd numb•r 1144850 Reglstered offlce and principal operating offlce Whitmoor Road Bagshot Surrey GU19 5QE Accountants Menzies LLP Chartered Accountsnls 36 Slalion Road Egham TW20 9LF Bankers HSBC Bank PIC Egham Surrey TW20 9LH Solicitors Blaser Mills 19 High Street St8ines Middlesex TW18 4QY Independent Examlner Janice Matthews FCA Centrum House 36 Station Road Egham Surrey TW20 9LF Page 1
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2020 The Trustees present their annual report together with the financial statements of the Company for the year 1 September 2019 10 31 August 2020. The Annual Report serves the purposes of both a Trustees, report and a directors, report under cornpany law. The Trustees confirm that the Annual Report and fin8no81 statements of the charitsble company comply with the current slalulory requirements, the requirements of the ¢harilable wmpany's governing document and the provisions of the Staternent of Recommended Practice ISORPI applicable to ch8ritie5 preparing their accounts in 8ccordance with the Finanaal Reporting Standaid applicable in the UK and Republic of Ireland IFRS1021 (effective 1 January 20191. Since the Company qualrfies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 Istrategic Report and Directors, Report) Regulations 2013 has been ornitted. Objectives and activities The main purpose for th8 nursery is as stated within the rnission st8tement.. to provide high quality thild car8 and education for children aged three rnonths to five year5 of age. As a charitable organyzation, the nursery seeks to provide affordable and flexible child care and any surplus funds are reinvested in the nursery (Little Echoes is a non profit making organizationl. The nursery prides itseK on its highly professional approach to childcare and to the management of its activities, both of which are significantly supported by the ability to invest all surplus funds back into the business. This was the basis by which Little Echoes was able to provide the significant financial resources necessary to fund its rnove to Bagshot. Little Echoes has built ils reputation and success lo dale around the exceptional quality of childcare provided. This care is slruclured around a strong educ8lion81 ethos within the nuisery. Great allention was placed on m8inl8ining the high quality of child c8re during the Tnove frorn its original premises in Englelield Green to B8gshot. The new prernises provide m8ny opportunities foi building upon this induding indoor and outdoor play areas, a sensory room and access to a large adjacent playing field. Little Echoes places great emphasis on ensuring that staff are appropriately trained and qualified and all undertake additional training with at least two courses each year. This helps to keep up to date with changes and developments within the profession. It also enables Little Echoes to recruit high quality nursery staff as we grow. The nursery recognises long service achievements of staff, induding the Manager, Jane. who has been with the nursery for 20 years. and a nurnber of staff have 5 & 10 years service. The Trustee$ have had regard to Charity Commission guidance on public benefit and ale confident that the activities of the charty ale fully cornpliant with this guidance. Achlevements and perfomiance On 16 April 2012, Little Echoes Day Nursery re located from its home of 18 years in Englefield Green to new premises in Bagshot. The new premises were well appointed and had previously been used as a nursery. Some work was required on the building and ils interior as it had been vacant for some tirne and also lacked some amenities leg.. outdoor play areal. The nursery Now has security of tenure of its own premises and this goes 8 long way to m8naging some of the largest risks lo which it has been exposed in recent years. The financial and operational security afforded by this ownership makes Little Echoes relatively unusual amongst other nursery opeialors and safeguards the business from unpiedictable and un5UPPOrtive land lords. The 9 years since the move have seen numbers of children attending Little Echoes initially fall as the nursery gradually re- established itself in a new location. Our advertising campaign resulted in numbers starting to grow and as word Spad in the local community of the exceptional child care available, Little Echoes reached and then exceeded the size of roll achieved at the previous site. Page 2
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 The COVID crisis has presented particular challenges to the rnanagemenl of the nursery frorn March 2020 onwards. Little Echoes initially remained open for children of key workers but this 8$ed after a few weeks as demand dropped and the nursery closed for two rnonths until Govemment restrictions were lifted. Support W85 provided lo stsff throughout this period and iegular updates were sent to parents. along with ideas for home 8divilies. When the nursery opened in Jurie 2020. number5 had dropped by around 100/0 but the majority of children returned and 8Ctivities continued, albeit socially distanced as required by Government guidelines. The continuation ol the crisis into the new financial year has presented further challenges but the nursery has iemained open and numbers tsf children have been largely sustained at viable levels. The nursery offers a wide range of activities to children based on its excellent facilities, including an all weather indoor play area. well equipped kitchen land resident cheo offering home cooked food made daily from fresh ingredients,. several outdoor play areas and a sensory room. The site also has spacious staff room facilities. Over the past year, a number of irnprovements have been undertaken. including repairs to the roof, new office equipment. replacernent of kitchen appliances 8nd improvements to the security system. Further improvements to the building tsbric and th8 replac8ment of additional fittings ai8 planned for the current year. Little Echoes offeis opportunities ft>i all children whatever their race, culture, religion, means or ability, including those who require special care or additional attention from staff. The Trustees and Management ensure that the nursery remains up to date and compliant with new legislation and regulations affecting businesses ol this sort. During recent years, there has been a requirement to offer pension provisions for staff. new minimum wage rates and changes in Government funding for sorne nursery places. We are particularly proud of our catering and of our full time chef s hard work. We offer the children exceptional fresh and varied food and are proud of our 5 star Food Hygiene Award. recently received. Financial rèvièw 2019-2020 represented a year of continued growth up to March 2020, followed by a focus on managing a changing and challenging environment as the COVID crisis developed. Despite the enforced closure from March to June, annual revenues only fell by 22 /. This was partially off-set by a 7.lo reduction in costs though the need to provide safe and socially-distanced care after re-opening limited scope for cost savings. The loss of £52k for the year has been covered frorn our considerable reserves. which have been built up over a number of years to cover such an eventuality. These reserves remained above £220k at the end of the year, despite such challenging trading conditions. The Trustee5 and Management are confident that Litue Echoe5 15 trading profitably and 15 projecting that thi5 will continue for the Coming year despite the continued challenges of COVID. This reflects the fact that the nursery has remained open since August with a grtswing role and increasing enquiries about new places. Having negotiated the COVID crisis, Little Echoes is planning to re build a surplus of funds that can be used for investment projects, long term Maintenance of the premises and act as a buffer against future risks and uncertainties. The COVID 19 crisis illustrates the type of unplanned events for which an element of financial and operational resilience is required. The operating costs of the new building are considerably lower than those of the previous facility. whilst capacity is 25°1Tr greater. The Trustees are confident that the local market around Bagshol will generate 8 healthy demand for the high quality services offered by Litue Echoes and that the long term fLrture of the Nursery 15 now secure. The Trustees 8ltn to maintain resetve5 of say £275,000 which 15 equivalent to half 8 yearfs turnovei lo piovide a buffer ag8in5t econornic downturns or an unfoie5een event such as having to move premises. The Trustees will maintain their policy on fees of having a competitive position in the local market and providing affordable, high quality child care to the local community. Whilst the nursery is registered for 85 children lat any one timel, it is not our intention to operate to this capacity as we believe a higher level of individual care brings significant benefi't to the children. The reserves of the charity are substantially invested in the nursery building of Whitmoor Rd, with working capital provided by careful management of reSoUrs. The Accounts are 8ccordingly prepared on the Going Conrn basi5. Page 3
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 Structure, govemance and management Little Echoes is a registered education81 charity. consliluled as 8 lirniled company. The charity is overseen by trustees. who are diieclors of the charitable Ilust. There are currently three Ttustees, with appointrnents being confiirned by the Chaii ol the Trust. There ale no tirne limits on the length of Servi of a trustee. The Trustees have no financial interests In the business. The Trustees are assisted by a part time book keeper who oversees payroll and general management information. Trustees are appointed via a unanimous vote of the existing Trustees. Any Trustees or the Nursery Manager can nominate a candidate. The Nursery is managed by full time rnanager. Ms Jane Gratton. The Trustees and Manager forrn an Executive Committee which rneets. on average. every six weeks. This Comrnittee also acts as the Nuisery s Finance Committee. of which the book keeper is also a membei. The Executive Committee deals with InvestTnents. business planning, staff salaiies and oth81 significant are8s of cost, setting of nLJrsery f885 and other notable i55ues raised by the nursery s management. Strategic risks are reviewed by the EXec1ve Committee who ensure that appropriate actions a taken to manage such risks. A Parents, Committee exists to provide engagement with and feedback to nursery managernent and to plan fund raising events. This meets monthly. Nursery management have full day to day responsibility and accountability for operation of the charitable business, within the limits agreed with the Trustees. Little Echoes is a Tnemb8r ol the Pi8 School Learning Alliance, who provided support in establishing th8 business In 1991 and frorn whom rt has received PLA Accreditation. It also has Investors in People status, which was renewed following an inspection In 2020. Plans for future periods The Trustees and Management produce an annu81 investment and capital renewal plan which prioritises significant expenditure on equipment and the fabric of the site. Over the coming year. it is intended to COntrate on structur81 work. update heating & plumbing and completion of maintenance adivities that had to be suspended during the COVID crisis. Stat*m•nt of Trusts•s' r&sponsibilitias The Trustees Iwho are also the directors of the Company for the purposes of company lawl 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 Practicel. Company law requires the Trustees lo prepare financial statements for each financial year. Under company law, the Trustees musl not approve the financial slalernents unless they are satisfied that they give a true and fair view of the slate of affairs of the Company and of ils incoming resources and application of resources. including its income and expenditure. for that period. In preparing these financial statements, the Ttustees are iequiied to.. select suitable accounting poliaes and then apply them consistently, observe the methods and principles ol the Charities SORP IFRS 1021", make judgments and accounting estimates that are reasonable and prudent", state whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going C£Inrn basis unless it is inappropriate to presume that the Company will continue in business. Page 4
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy al any lime the financial position of the Company and enable them lo ensure that the financial stalernents comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence foi 18king ieasonable steps for the prevention and detection of fi8ud and other iriegularities. Small eompani•s notè In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Cornpanies Act 2006. Approved by order of the members of the board of Trustees and signed on their behalf by.. Mrs J 8uick (Trusleel 08te.' 24-May-2021 Page 5
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) MENZIES BRIQHT£R THINKIN INDEPENDENT AUDITORS, REPORT TO THE OF LITTLE ECHOES DAY NURSERY LIMITED Independent Examine3 Report to the Trustees of Little Echo Day Nursery Limited I'the Compan) I report lo the oh8rity Trustees on rny ex8minalion of the accounts of the Company for the year ended 31 August 2020. Responsibilities and Basis of Report As the Trustees of the Company land its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2008 I'the 20C6 Act'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2008 Act and are eligible for independent examination. I report in respect ol my examination of the Company's accounts carried out under section 145 of the Charities Act 20111.the 2011 Act'l. In carrying out my exarnination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examine8 Ststement Since the Gompany's gross income exceeded £250,000 your ex8miner must be 8 member of 8 body li51ed in section 145 of the 2011 Act. I confirrn that l am qualified to undertake the exarnination bec8u5e l arn a membei ol The In5titut8 of Chartered Accountants in England and Wales, which Is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act,. or the accounts do not accord with those records", or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act othei than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and prinaples of the Statement of Recommended practi for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. 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. Signed.. Dated.. 24-May-2021 fj3IF24DE92A¥71 Jani M8tthews FCA Centrum House 36 Station Road Egharr TW20 9LF Page 6
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2020 Unrestrlcted funds 2020 Total funds 2020 Total funds 2019 Note Incorne from.. Donations and legacies Charitable adivilie5 24.635 431,573 24.635 431.573 1,258 585,493 Total Income 456,208 456,208 586, 751 Expenditure on.. Charitable activities 508,067 508.067 543.925 Total èxpènditurè $08,067 508,067 543,925 Net movement in fund¥ 151,8591 151,8591 42,826 Reconciliation of funds: Total funds brought foNard Net movement in funds 579,232 151,8591 579,232 151,8591 536,4Q6 42,826 Total funds carried fonward 527.373 527.373 579,232 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 10 to 18 form part of these financial statements. Page 7
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) REGISTERED NUMBER. 7668404 BALANCE SHEET AS AT 31 AUGUST 2020 2020 2019 Note Fixed assets Tangible assets 10 527,956 548.208 527,956 548.208 Current assets Debtors Cash at bank and in hand 640 640 249,108 300,069 249,748 300,709 Creditors.. amounts falling due within one year 12 127,2671 (27,750) Net current assets 222,481 272,959 Total assèts lèss currènt liabilitiès 750.437 821, 167 Creditors.. amounts falling due after more than one year 13 1223,0641 (247.9351 Net assets excluding pension asset 527,373 579.232 Total net assets 527,373 579.232 Charity funds Restricted funds Unrestricted funds 14 14 S27,373 579,232 Total funds 527.373 579,2S2 Page 8
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2020 The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance wrfth section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in 8rdance with the provisions applicable to entities subject to the small conipanies regirne. The financial stat8m8nts were approved and 8Uthorised foi issu8 by the Trust8es and signed on th8ir b8half by.. Mr M Brown Director Date.. 24-May-2021 The notes on pages 10 to 18 form part of these financial statements. Page 9
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 General information Little Echoes Day Nursery Limited is a private charitable cornpany lirnited by guarantee and incorporated in England & Wales. The address can be found on page 1 and details of the principal activities are sel out in the Trustees, Report. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021- 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 IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10218nd the Companies Act 20. Little Echoe5 Day Nursery Limited rneets the definition of 8 public benefit entrty under FRS 102. Assets and liabilities are initially recognised at historical c05t 01 transaction value unless otherwise stated In the relevant accounting policy. 2.2 Golng concern Although the nursery has made a loss in the year due to the impact of the COVID pandemic, the charity has a significant level of reserves and financial forecasts indicate that the nursery will be able to meet its finanaal obligations for at least twelve Months from the date of approval of these financial statements. These accounts are accordingly prepared on the Going Concem basis. 2.3 Income All income is iecognised once the Cornpany has entitlement to the income, It is probable that the income will bè received and the amount of Income receivable can be measured reliably. Income from the provision of Nursery Education is recognised as the service is provided. Grants are induded in the Statement of Financial Activities on a re1vable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balan Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the incorne is accrued. 2.4 Expenditu Expenditure is recognised once there is 8 legal or constructive obligation lo transfer eoonotnic benefit to 8 third party. it is probable that 8 transfer of ewnornic benefits wll be required in settlement and the amount of the obligation can be measured reliably. Support costs are those costs incurred directly in support of expenditure on the objects of the company. Governance costs are those incurred in connection with administration of the company and Complian with constitutional and statutory requirements. Charitable activities are costs incurred on the provision of nursery education. including support costs and costs relating to the governance of the company apportioned to charitable activities. All expenditure is incluswe of irrecoverable VAT. Page 10
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Accounting policies Icontinuedl 2.5 Government grants Govemrnent grants relating lo tangible fixed assets are Irealed as deferred income and released lo the Ststemenl of Financial Activities over the expected useful lives of the assets wncerned. Other grants are credited lo the Stslemenl of Finanry81 Activities as the related expenditure is incuired. 2.6 Tangiblè fixèd assèts and dèprèciation Tangible fLYed assets costing £1000 or more are capitalised. A review lor impairment of a fixed asset is carried out il events or changes in arcumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carying value ol fixed assets and their recoverable amounts are recognised as impairrnents. Impairment losses are recognised in the Statement of Finanaal Activities incorporating Income and Expenditure Account. Tangible fixed assets are carried al cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated lo write off the cost of fixed assets, less their eslimaled residual value. over their expected useful live5 on the following bases.. Freehold buildings Freehold land Fixtuies and rrttings CtsmpLrter equipment over 50 years 10Q/o Straight line 200/0 reduang balance 2.7 Flnanclal Instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exptIOn of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.8 Pensions The company operates 8 delined contribution pension scheme and the pension ¢h8rge represents the amounts payable by the company to the fund In respect of the ye8r. 2.9 Fund aeeounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives ol the Company and which have not been designated for other purposes. Page 11
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Critical accounting estimates and areas of judgment Estimates and judgments are continually evaluated and are based on historical experience and other factors. including expectations of future events that are believed lo be reasonable under the circumstances. crilic818ccounling estirn8les and 8ssurnplions.' The Company m8ke5 estimates and assumptions concerning the future. The resulting accounting estimates and assumptlolls will, by definitlon, seldom equal the related actual resuK5. The e5titnate5 and assumption5 that have 8 significant risk of causing a material adjustment to the carying amounts of assets and liabilities within the next financial year are discussed below. In the opinion of the Trustees the only estimate that has a material irnpact on the finanaal statements is depreciation on the cornpany's tangible fixed assets. which is calculated in accordance with the rates set out in Note 2.6. Income frorn donations and legacies Unrèstricted funds 2020 Total funds 2020 Totèl funds 2019 Fundraising events Government grants 527 527 1,258 24,108 24,108 24,635 24,635 1,258 Total 2019 1,258 1,258 Government grants consist of £24,108 12019.. £nill received under the Government Coronavirus Job Retention Scheme. Income from charitable activities Unrestricted funds 2020 Total funds 2020 Total funds 2079 Nursery Fees 431,573 431,573 585,493 Total 2019 585.493 585.493 Page 12
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Analysis of expenditure by activities Activitie¥ undertaken directly 2020 Support COStS Total funds 2020 2020 Provision of Nursery Education 497,062 11,005 508.067 Analysls of dlrect costs Provision of Nursery Education 2020 Total funds 2020 Total funds 2019 Rates & Water Light & Heat Repairs & Maintenance Insurance 395,462 20,252 7,792 5,655 16.868 2.959 2.490 10,530 5,724 1,123 10,787 394 4.313 12,713 395,462 20,252 7,792 5,655 16,86B 2,959 2,490 10,530 5,724 1,123 10,787 394 4,313 12,713 426,358 t9,747 t3, 133 9,427 15.012 2.817 1.539 15,034 5,494 881 Telephone Other office expenses Training Subscriptions Staff costs Depreciation Food costs 16,018 2,797 3.286 1,698 Advertising Other Office expenses Training 497,062 497,062 532,641 Total 2019 532,641 552,647 Page 13
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Analysis of expenditure by activities Icontinuedl Analysis of support costs Provision of Nur¥ery Education 2020 Totsl fundB 2020 Tol81 funrls 2019 Other Office expenses 88nk chaiges Bank loan interest Sundry expenses 261 261 266 239 239 248 7.390 3,115 7,390 3,115 8. 748 2,022 11,005 11,005 71,284 Total 2019 71,284 11,284 Staff costs 2020 2019 Wages and salaries Soual security costs Contribution to delined Contiibulion pension schemes 372,015 17,629 5,818 404,841 77,774 4,343 395,462 426.358 The average numbei of person5 employed by the Company during the year was as follows.. 2020 2019 Staff 23 22 No employee received rernuneralion 8mounling to rnore than £60.000 in either year. Page 14
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Independent examinerfs remuneration The Independent Examinerfs remuneration amounts to an Independent Examination fee of £1,44012019- £1,440), and accountancy services of £4,05412019- £4.0541. Trustees. remuneration and expenses During the year, no Trustees received any remunerab.on or other benefits (2019- £NIL). During the year ended 31 August 2020, no Trustee expenses have been incurred (2019- £NILI. 10. Tanglble flxed assets Freehold Fixtures and property fitting8 Computer equipment Totsl Cost or valuatSon At 1 September 2019 543,014 126,828 4.149 673.991 At 31 August 2020 543,014 126,828 4,149 673.991 D•pr•eiation At 1 September 2019 Charge for the year 54,903 7,240 68,377 12,683 2,503 329 125.783 20.252 At 31 August 2020 62,143 81,060 2,832 146,035 Net book value At 31 August 2020 480,871 45,768 1.317 527.956 The freehold property is provided as security against the rnortgage INote121. 11. Debtors 2020 2019 Due within onè yèar Other debtors 640 640 640 640 Page 15
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 12. Creditors: Amounts falling due within one year 2020 2019 Bank ltsans Other taxation and social security Accruals and deferred income 18,181 4,756 4,330 17,462 5,958 4.330 27,267 27.750 The bank has a First Legal Mortgage over the freehold property of Little Echoes Day Nursery Limited, known as Little Echoes, Whitmoor Road, Bagshot, Surrey, GU19 5QE. In addition, there is a debenture comprising fixed and floating charges over all the assets and undertaking of Little Echoes Day Nursery Limited induding all present and future freehold and leasehold property, book and other debts, chattels, and goodwill and uncalled capital, both present and future. The amount secured is £241,245 12019.. £259,397) including £223,06412019.' £241,935) over more than one year. 13. Creditors: Amounts falling due after more than one year 2020 2019 Bank loans 223,064 241,935 Included within creditors falling due after more than one year is an amount of £154,39212019.' £175,448) in respect of liabilities which fall due for payment after more than five years from the balance sheet date. Page 16
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 14. Statement of funds Statement of funds- current year Balance at 1 September 2019 Balance at 31 Expenditure August 2020 Income Unrestricted funds Gener81 Funds 579,232 456,208 1508,0671 527.373 Statement of funds- prlor year Balance at I September 2018 Balance at 31 August 2019 Income Expenditu Unrestricted funds General Funds 536,406 586, 751 (543,925) 579,252 15. Analysls of net assets between funds Analysls of net assets beeen funds- current perSod Unrestricted funds 2020 Total funds 2020 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 527.956 249.748 127,2671 1223,0641 527,956 249,748 127,2671 1223,0641 Total 527.373 527.373 Page 17
Docusign En¥ÈlopÈ ID". C5AD786F-3939-4825-8E05-SEFBD3622A8C LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 15. Analysis of net assets betsyeen funds Icontinuedl Analysis of net assets beeen funds- prior period UnSInGled funds 2019 To181 funds 2019 Tangible fixed assets Current assets 548,208 300,709 127.7501 1241.9351 548,208 30LI, 709 (27. 7501 (241,9351 Creditors due within one year Creditors due in more than one year Total 579,232 579,2S2 16. Company limited by guarantse The company is a company limited by guarantee and had no share capital. Members, liability is limited by individual guarantee lo 8 rnaxirnurn of £10 each in accordance with the Memorandum and Articles of Association. 17. Relatsd party tran¥action¥ The aggiegate ietnuneiation for key managetnent personnel during the ye81 was £62,000 12019- £65,000). There were no other related party transactions during the yeai. Page 18