Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4 Company registration number.. 7668404 Charity number.. 1144850 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) MENZIES BRIGHTER THINKING
Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) CONTENTS Page Reference and administrativè dètails of thè Company. its Trustèès and advisèrs Trustees. report Independent examinerfs report ststement of financial activities Balance sheet Notes to the financial ststements 10-18
Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4 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 2021 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 Cenliutn House 36 St8tion Road Egham TW20 9LF Bankers HSBC Bank PIC Egham Surrey TW20 9LH Soli¢itors Blaser Mills 19 High Str88t Staines Middlesex TW18 4QY Independent Examiner Janice Matthews FCA Menzies LLP Centrum House 36 Station Road Egham Surrey TW20 9LF Page 1
Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2021 The Trustees present their annual report together with the financial statements of the Company for the year 1 September 2020 10 31 August 2021. 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 purpose for the nursery is 85 Stated within the mi55ion ststement.. to provide high quality child care 8nd education for children 8g8d th188 rnonths to fiv8 y88rs of ag8. As a chaiitable organization, 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 itself 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 finanaal resources necessary to fund its move to Bagshot and to negotiate the period of significant financial insecurity during the COVID crisis. Little Echoes has buitt its reputation and SUC53 lo dale around the exceptional quality of childcare provided. This care is slruclured aiound 8 strong edur8tion81 ethos within the nursery. Great attention w85 placed on maintaining the high quality of child c8re dLJring the move fioTn its original piemises in Englefield Green lo Bagshol. The new pietnises provide rnany opportunities foi building upon this Including 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 more than 20 years, and a number of staff have 5 & 10 years service. The Trustees h8ve h8d reg8id to Charity Commission guidance on public benefit and are confident that the activities of the charty ale fully cornpliant with this guidance. Achièv•mènts and p•rfomianea 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 its interior as it had been vacant for some lime and also lacked some arnenilies leg.. outdoor play areal. The nursery now has security of tenure of its own premises and this goes a long way lo managing some of the largest risks to 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 operators and safeguards the business from unpredictable and unsupportive Landlords. The 10 year5 since the tnove have seen numbers of children attending Little Echoes initially fall as the nuisery gradually re- established rtself In a new location. Our advertising campaign iesulted in numbers starting to glow and as word spread 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". A40ASDD5-7E914E28-868D-F02D497E36A4 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 The COVID crisis has presented particular challenges to the management of the nursery from March 2020 onwards and throughout the whole of the year covered by this Report. Little Echoes initially remained open for children of key workers bul this ceased after a few weeks as demand dropped and the nursery closed for two months until Govemment restrictions were lifted. Support was provided to Staff IhroLJghout this period arid regular upd8les were sent lo parents. 8long with ideas lor home activities. When the nursery opened in June 2020, numbers h8d dropped by around 10Q/o but the m8jority of children returned and activitie5 continued, albeit socially distanced as required by Government guidelines. The continuation of the crisis into the financial year 2020-21has presented major challenges due to continuous stafl illness and the need to work in small 'bubbles' (which determined and constrained staff ratios). The nursery has remained open throughout FY 2020-21 and numbers of children have been largely sustained at viable levels. The nursery offers a wide range of activities to children based on its excellent facilities, induding an all-weather indoor play area. well-equipped kitchen land resident chefj offering horne cooked food made daily from fresh ingredients.. several outdoor play areas and a sensory room. The site also ha5 spacious staff room facilities. Over the past year, 8 nurnbei of improverments have been undertaken. Including repairs to the roof, improvem8nt5 to heating equipment, replacerment of kitchen appliances and additions to the play equipment. Further Impiovements to the building fabric and the replacement of additional rrttings leg." a new hot water tankl are planned for the current year. Little Echoes offers opportunities lor 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 of 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. The nLJrsery was inspected by Ofsted during the year and achieved a 'Good' status In June 2021. We ale particulady proud of our catering and of our full-tiTne chef s haid work. W8 offer the children exception81 fresh and varied food and are proud of our 5-stai Food Hygiene Award, recently reeeived. Flnanclal revlew 2020-2021 represented a year of adaptation to the demands and constraints of the COVID crisis. Capacity was reduced as a resutt of the emergency 'bubbles' procedures and the working day was shortened by one hour in order to finesse staff rotss and to be able to provide safe and socialty-distanced care. The surplus of £57k for the year has replenished our reserves following last year's Ios5 of a sirnilar amount. 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 inflation and economic uncertainty. This ieflects the fact that the nursery has remained throughout the past year, despite COVID with a growing roll 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°/o greater. The Trustees are nfIdent that the local market around B8gshot will generate 8 heatthy demand for the high-quality services offered by Liwe Echoes and Ih8t the long term future of the nuisery is now secure. The Ttustee5 aim to maintain reserves of around £300,000 which is equivalent to half a yearfs tuinover to provide a buffer against economic downturns or an unforeseen 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 65 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 benefit 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 resour5. The Accounts 8re accordingly prepa18d on the Going Concein b8SI5. Page 3
Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Structure, govemance and management Little Echoes is a registered education81 charity, con51ituled as a limited company. The charity is overseen by trustees, who are diieclors of the ¢harilable Iiusl. 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 form an Executive Cornmittee which meets, on average, every six weeks. This Committee also acts as the Nursery's Finance Committee. of which the book-keeper is also a member. The ExecLJtive Committee deals with investments, business planning, staff sa18ries and other Significant areas of c05t, Setting of nursery fees and other notable issues raised by the nursery 5 rnanagement. Strategic risks are reviewed by the Executive Committee who ensure that appropriate actions are taken to manage such risks. A Parents, Cornrnittee exists to provide engagement with and feedback to nursery management and to plan fund raising events. This meets monthly. Nursery management have full day lo day responsibility and accountability for operation of the charitable business, wrthin the limits agreed with the Trustees. Litt18 Echo8s is a rn8tnber of the Pre-school Learning Alliance, who provid8d support in establishing the busin855 in 1991 and from whotn it has received PLA Accreditation. It also has Investors In People status, which was renewed following an inspection In 2020. Plans for future perlods The Trustees and Management produce an annual 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 COnntrate on structural work. update heating & plumbing and completion of maintenanoe activities that h8d to be suspended during the GOVID ¢risi5. Statement of Trustees. rèsponsibilitiès 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 to prepare financial statements for each financial year. Under company law, the Trustees musl not approve the financial staternents unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure. for that period. In preparing these financi81 stslemenls, the Trustees are required lo. select 5Ultable 8CCQLJnting policies and then 8pply them wnsistently., observe the methods and principles ol the Charities SORP IFRS 1021", make judgments and accounting estimates that are ieasonable 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 conTrrn basis unless it is inappropriate to presume that the Company will continue in business. Page 4
Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 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 Companies Act 2006. Approved by order of the members of the board of Trustees and signed on their behalf by.. Do¢uS*Md by.. Mrs J Buick ITrusteel Dale.. 24-May-2022 Page 5
Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) INDEPENDENT EXAMINERS, REPORT Independent examinerfs report to the Trustses of Little Echoes Day Nursery Limited I'the Company'l I report lo the charity Trtjstees on rny examination of the accounts of the Comp8ny for the year ended 31 August 2021. Re¥ponsibIliti and basis of report As the Trustees of the Company land its directors for the purposes of cornpany lawl you ale responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061.the 20(h ACVI. 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 of my examination of the Company's accounts carried out under section 145 01 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 examinerfs statement Since the Gompany's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Ad. I confirrn th81 1 am qu81ified lo undertake the exarninalion because l am a membei of The Inslilule of Chartered Accountants in England and Wales, which Is one of the listed bodies. I have completed my examination. I confirm that no mattels 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 acctsid with those records., or the accounts do not wmply with the 8ccounting requirements of section 396 of the 2006 Ad othei than any requiiernent that th8 accounts giv8 a 'tiue and fairf view which is not a rnatt81 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 wrfth the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no othei 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. Do¢uSnId by.. Signed.. Dated.. 25-May-2022 634F240E92A4471 Janice Matthews FGA Menzie5 LLP Centrum House 36 Station Road Egharr TW20 9LF Page 6
Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4 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 2021 Unrestrlcted funds 2021 Total funds 2021 Total funds 2020 Note Incom• from.. Donations and legacies Charitable activities 4.396 497.924 4.396 497.924 24,635 431,573 577 Investments Total income 502,344 502,344 456, 785 Expenditure on.. Charitable activitie5 444.620 444.620 508,644 Totsl expenditure 444,620 444.620 508.644 Net movement in fund¥ 57.724 57.724 (57,8591 Re¢onciliation of funds: Total funds brought foNard Net movement in funds 527,373 57,724 527,373 S7,724 579,232 (51,859) Total funds carrièd forward 585.097 585.097 527,373 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". A40ASDD5-7E914E28-868D-F02D497E36A4 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) REGISTERED NUMBER. 4558942 BALANCE SHEET AS AT 31 AUGUST 2021 2021 2020 Note Fixed assets Tangible assets 507,769 527.956 507.769 527,956 Current aS8et8 Debtors 12 640 Cash at bank and in hand 307,687 249, 108 308,327 249, 748 Creditors.. amounts falling due within one year 13 127,0881 127,267) Net Current ass8ts 281.239 222,481 Total assèts lèss curr•nt liabilitrès 789.008 750,437 Creditors.. amounts falling due after more than one year 14 1203,9111 (223.0641 Net assets excluding pension a3¥et 585,097 527.373 Totsl net a¥8et8 585.097 527.373 Charity funds Restricted funds Unrestricted funds 15 15 585,097 527.373 Totsl fijnds 585,097 527.373 Page 8
Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2021 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.. Do¢usdntsy'. FS570231DOBA¥O.. Mr M Brown Director Date.. 24-May-2022 The notes on pages 10 to 18 form part of these financial statements. Page 9
Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 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 a public benefit entty 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 The charity has a significant level of reserves and finanaal forecasts indicate that the nursery will be able to meet its financial obligations for at least twelve months from the date of approval of these finanaal statements. These accounts are accordingly prepared on the Going Concem basis. 2.3 Income All income is iewgnised On the Company has entitlement to the inwme, f( is probable that the inoome will be received and the 8mount of Income receivable can be meaSLJred reliably. Income from the provision of Nursery Education is recognised as the service is provided. Grants are included in the Statement of Financial Activities on a receivable 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 income is accrued. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 2.4 Expenditure ExpenditLJre is rewgni5ed once there is a leg81 or wnstiudive oblig81ion to transfer ewnomio benefit lo a third party, it is probable that a tran5fei of economic benefits will be required in settlement and the arnount ol the obligation can be measured reliably. Support costs are those costs incurred directly in support of expenditure on the objects of the company. Govemance costs are those incurred in connection wrth administration of the company and compliance with constitutional and statutory requirements. Charitable activities are costs incurred on the provision of nursery education. including support costs and costs relating to the governan of the oompany apportioned to tharitable activities. Page 10
Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Accounting policies Icontinuedl 2.4 Expenditu Icontinuedl Expenditure on charitable activities is incurred on directly undertaking the activitie5 which further the Companys objectives. as well as any associated support costs. All expenditure is incluswe of irrecoverable VAT. 2.5 Govèrnmènt grants Govemment grants relating to tangible fixed assets are treated as deferred income and released to the Statement of Financial Activities over the expected useful lives of the assets concemed. Other grants are credited to the Statement of Finanaal Activities as the related expenditure is incurred. 2.6 Interest receivable Interest on funds held on deposit is induded when receivable and the amount can be measured reliably by the Company.. this is nomally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.7 Tangible fixed assets and depreciation Tangible fixed 85sels costing £10W 01 more are c8pi181ised. A review for itnpaitment of a fixed asset is carried out if events or change5 in circumstance5 indicate that the Carrying value of any fixed asset may not be recoverable. Shortfa115 between the carrying value of fixed assets and their recoverable amounts are recognised as Impaiments. Impairment losses are recognised in the Statement of Financial Activities incorporating Income and Expenditure Account. Tangible fixed assets are carried at cost, net ol depreciation and any provision for impairment. Depreaation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases.. Freehold buildings Freehold land Fixtuies and lrttings CotnpLrter equipment over 50 years 10Q/o Str8ight line 204/0 reducing balance 2.8 Finaneial instrum•nts The Company only has linanual 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 exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.9 Pensions The cornpany operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fvnd in respect of the year. Page 11
Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Accounting policies Icontinuedl 2.10 Fund accounting General funds are unrestricted funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purpose5. Invesltnenl income. gains and losses 8ie allo¢*ed lo the appropri8le fund. Crltlcal accountlng estlmates and areas of lu(Igment Estimates and judgments are continually evaluated and are based on historical experience and other factors, induding expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions.. The Company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will. by definition, seldom equal the related actual resutts. The estimates and assumptions that have a SignifinI risk of causing a material adjuslmenl to the carrying amounts of assets and liabilities within the next fin8ncial year are discussed below. In the opinion of the Ttustees the only estimate that has a tnateiial irnpact on the financial 5taternents is d8preciation on the cotllpany's tangible fixed asset5, which is calculated in accordance with the late5 set out In Note 2.6. Income from donatlons and legacles Unrestricted funds 2021 Total funds 2021 Total fund8 2020 Fundraising events Government grants 527 4,396 4,396 24, 708 4,396 4,396 24.635 Total 2020 24,635 24,635 Government grants consist of £4,39612020'. £24,108) received under the Govemment Coronavirus Job Retention Scheme. Page 12
Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Income from charitable activities Unrestricted funds 2021 Totsl fund¥ 2021 Tol81 fvnds 2020 Nursery Fees 497,924 497,924 431,573 Total 2020 431,573 431,573 Deposit interest Unrestricted funds 2021 Totsl fvnd¥ 2021 To181 fvnds 2020 Investment Income- Ioc81 cash 24 24 577 Total 2020 577 577 Analysis of expenditure by activities Activities undertaken directly 2021 Support co8t8 2021 Total funds 2021 Piovision of Nursery Education 430,190 14,430 444.620 Page 13
Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Analysis of expenditure by activities Icontinuedl Analysis of direct costs Provision of Nur¥ery Education 2021 Totsl fundB 2021 Tol81 funrls 2020 Staff costs 347,608 20,187 2,235 7,422 8,860 2,969 1,611 16,193 243 347,606 20,187 2,235 7,422 8,860 2,969 1,611 16,193 243 395,462 2LI,252 7. 792 5,655 16,868 2,959 2,490 10,530 1, 123 lQ.787 394 4,313 t2, 113 Depreciation Rates & Water Light & Heat Repair & Maintenance Insurance Telephone Expendable equiptnent, trips & consumables Subsciiplions Food costs Advertising Other Office expenses Training Recruittnent expenses 16.263 1,092 508 274 16,263 1,092 S08 274 4,727 4,727 430,190 430,190 491,338 Tot812020 497,3S8 491,338 Analysis of support costs Provision of Nursery Education 2021 Totsl fund 2021 To181 funds 2020 Other Office expenses Exptype 10 Bank charges Bank loan interest Sundry expenses 156 156 4,620 211 6,S30 2,913 261 4.620 211 6,530 2,913 5. 724 239 7,967 3,115 14,430 14,430 71,306 Total 2020 17,3Q6 17,306 Page 14
Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Staff costs 2021 2020 Wages and salaiies Social security costs Contribution to defined contribution pension schemes 326,745 15,405 5,456 372,015 17,629 5.818 347,606 395,462 The average number of persons employed by the Company during the year was as follows.. 2021 No. 2020 No. Staff 21 23 No employee received retlluneration smounting to rnore than £60,000 In erther year. Independent examinerfs remuneration The Independent Exatniner's remuneration amounts to an Independent Examination fee of £1,44012020 - £1,440), and accountancy services 01 £4,05412020- £4,054). 10. Trustees. remuneration and expenses During the year, no Trustees received any rernuneration or other benefits (2020- £NIL). During the year ended 31 August 2021, no Trustee expenses have been inCued (2020- £NIL). 11. Tangible fixed assets Freehold Flxtures and property fittings Computer equipment Total Cost or valuation At 1 September 2020 $43,014 126,828 4,149 673,991 At 31 August 2021 543,014 126,828 4,149 673.991 Page 15
Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 11. Tangible fixed assets Icontinuedl Freehold Fixtures and property fittings Computer equipment Totsl Depreciation Al 1 September 2020 Charge for the year 62,143 7,241 81,060 12,682 2,832 264 146.035 20.187 At 31 August 2021 69,384 93,742 3.096 166.222 Net book value At 31 August 2021 473,630 33,086 1,053 507,769 The freehold property is provided a5 security against the tllortgage INote131. 12. Debtors 2021 2020 Due within one year Other debtors 640 640 640 640 13. Cr•ditors= Amounts falling duè within onè yèar 2021 2020 Bank loans 18,900 3,858 4,330 18,781 4, 756 4,330 Other taxation and soaal security Acuuals and deferred income 27,088 27,267 The bank has a First Legal Mortgage over the freehold property of Little Echoes Day Nursery Limited. known as Little Echoes, Whitrnoor Road, Bagshot. Surrey, GU19 5QE. In addition, there is a debenture comprising fixed and floating charges over 811 the assets and undertaking of Little Echoes Day Nursery Limited including all present and future freehold 8nd leasehold piopety. book and other debts. chattels. and goodwill and uncalled capitsl. both present 8nd future. The amount secured is 2222,815 12020". £241.2451 including £203.911 12020.. £223,064) over more than one year. Page 16
Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 14. Creditors: Amounts falling due after more than one year 2021 2020 Bank ltsans 203,911 223,064 Induded within creditors falling due after more than one year is an amount of £132,61812020.' £1 $4,392) in respect of liabilities which fall due for payment after more than five years from the balance sheet date. 15. ststement of funds ststement of fund8- current year Balance at 1 Septembèr 2020 Balance at 31 Expanditurè August 2021 Ineom• Unrestricted funds General Funds S27,373 502,344 1444,6201 585,097 Statement of funds- prior year Balance at I Seplember 2019 Balan at 31 August 2020 Income Expenditure Unrestricted funds General Funds 579,232 456,208 1508,067) 527,373 Page 17
Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 16. Analysis of net assets between funds Analysi¥ of net assets between funds- Current year Unre8tricted fvnd¥ 2021 Totsl funds 2021 Tangible fixed assets Current assets Creditois due within one year Creditors due in more th8n one year 507,789 308,327 127,0881 1203.9111 507,769 308.327 127.0881 1203.9111 Total 585.097 585,097 Analysis of net assets between funds- prior year Unrestricted funds 2020 Total funds 2020 Tangible fixed assets Current assets 527,956 249, 748 (27.267) 1223,064) 527,956 249, 748 (27,2671 (223,0641 Creditois due within one year Creditors due in more than one year Total 527,373 527,373 17. Company limit•d by guararrtèè The company is a company limited by gLJarantee and had no share capital. Members, liability is limited by individual guarantee to a maximum of £10 each in accordance with the Memorandum and Articles of Assoaation. 18. Related party transactions The aggregate remuneration for key management personnel during the year was £41,000 12020 - £62,OCX)l. There were no other related party transactions during the year. Page 18
Docusign En¥ÈlopÈ ID". A40ASDD5-7E914E28-868D-F02D497E36A4