Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 Company registration number.. 7668404 Charity number.. 1144850 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) MENZIES BRIGHTER ,IINKIN
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) CONTENTS Page Reference and Administrative Datails of thè Company. its Trust•&s and Advisèrs Trustees. Report Independent Examine$ Report ststement of Fhnan¢ial Activities Balance Sheet ststement of Cash Flow8 Notes to the Financial Statements 10-19
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 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 2023 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 Magna House 18-32 London Road St8ines-Upon-Tharne5 TW18 48P Bankers HSBC Bank PIC Slough Berkshire SL1 1JF Soli¢itors Blaser Mills 40 Oxtord Road High Wycombe Buckinghamshire HP112EE Independent Examiner Janice Matthews FCA Menzies LLP Magna House 1&32 London Road Slaines-Upon-Tharlles TW18 4BP Page 1
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2023 The Trustees present their annual report together with the financial statements of the Company for the year 1 September 2022 10 31 August 2023. 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 rnain purpose for the nursery is as stated within the mission 5t8lernenl'. lo provide high quality child-c8re and 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-care during 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 and retain 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". D66BcFO4-8FB2426A841-g664cBlSA84 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 The COVID crisis presented particular challenges to the managernent of the nursery frorn March 2020 onwards and throughout 2021. Little Echoes initially remained open for children of key workers but this ased after a few weeks as demand dropped and the nursery closed for Iwo months until Government reslriclions weie lifted. Support was provided to staff throughout this peiiod and regular updates were sent lo parents. along with ideas for home activities. Wheri the nursery re-opened in June 2020, numbers had diopped by around 10TrJo but the maioiity of children retLJrned 8nd activities continued, albeit socially dIStand as required by Government guidelines. The continuation of the crisis into the financial year 2020-21 piesented maioi challenges due to continuous staff Illness and the need to work in small 'bubbles' Iwhich detemined and constrained stafl ratios). The nursery remained open throughout FY 2020-21 and numbers of children have fully recovered to their previous levels during FY2022-23 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 p18y areas and a sensory roorn. The site also has spacious staff room facilities. Little Echoes offers opportunities for all children whatever their race, Qullure, religion, rneans or ability. including those who require special care 01 additional attention from Staff. Over the past year, a number of impiovements have been undertaken, including installation of new security shutters, replacement of the noise limiting lling 'clouds', purchase of kitchen appliances and a number of new doors and windows. Further improvements to the building fabric and the replacement of life4xpired fittings are planned for the current year. The Trustees and Management ensure that the nursery remains up to dale and compliant with new legislation and regulations affecting businesses of this sort. The Trustees have agreed that Little Echoes will enter the government's forthcoming expanded scherne for subsidising childcare for children whose parents rneet the stated ewployment conditions. From April 2024, working parents of two-year-olds will be able lo a53 15 hours of free childcare per week. From September 2024. 15 hours of flee childcare will be extended lo all children from the age of nine months. From September 2025, working parents of children under the age of five will be entitled to 30 houis free childc8re per week. This will reduoe childcare costs foi tnany parents. We have examined the likely Implications of these changes on our finance5 and conduded that Little Echoes can mitigate most iisks and have therefore iesolved to make the expanded scheme work in the Interest ol all parties. The nursery was inspected by Ofsted during 2021 and achieved a 'Good' status. 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 >star Food Hygiene Award, recently reived. Financial review 2022-2023 wa5 heavily Impacted by the 'c05t-of-living crisi5' and management made a decision to keep fee rises to a minimum, consaous of the impact of childcare costs on family finances. Inflation continued to drive up operating ctssts, whilst staff wages weie increased to ensuie an acceptable living wage was offered to all employees. As a result, Little Echoes has not generated the surplus that management targets in most years. Nevertheless, our reserves remain healthy and larger fee increases are being made for the coming year in order to maintain our strong finanaal position. The Trustees and Management are confident that Little Echoes is trading profitably and is projecting that this will continue for the corning year despite the continued challenges of inflation and economic uncertainty. This reflects the lacl that the nursery finances remain robust. despite recent high inflation levels, with 8 growing roll and continued enquiries about new places. Little Echoes is planning to re-build a sutplus ol funds that be used foi investment project5. long term maintenance of the prerni5es and act as a bufler against future ri5k5 and UNrtaInl1eS. The COVID 19 crisi5 recent inflationary pressures illustrate 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 25Q/o greater. Significant housing developments are underway in the catchment of the nursery and the Trustees are confident that the local market around Bagshot will generate a healthy demand for the high-quality services offered by Litde Echoes and that the long-temi future of the nursery is now secure. The Trustee5 aim to maintsin reserves of around £350.000 which is equivalent to half a yearfs turnover to provide a buffer against econorni¢ downturns or an unfoieseen event such as having lo move premises. Page 3
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 The Trustees will maintain their policy on fees ol having a cornpetitive position in the local market and providing affordable. high-quality child-care to the local cornrnunily. Whilst the nursery is registered for 65 children lal any one lirnel, it is not our intention lo operate to this capacity as we believe 8 higher level of individual care brings significant benefit to the children. The reserves of the charity are substantially invested in the nursery building of Whilmoor Rd. with working capital piovided by careful m8nagetnent of resouiTrs. The Accounts are accordingly prepared on the Going Concern basis. Structure, govemance and management Little Echoes is a registered educational charity, constituted as a limited company. The charity is overseen by trustees, who are directors of the charitable trust. There ale currently three Trustees with appointments being confirmed by the Chair of the TIu5t. There ale no lirne limits on the length of service of a trustee. The Trustees have no financial interests In the business. Th8 Trustees 8re assisted by 8 part tiTne book-keeper who oversees payroll and general rnanageTnent infoitmation. 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 manager, Ms Jane Gratton. The Trustees and Manager form an Executive Cornmitlee 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 Executive Committee deals with investments, business planning, staff salaries and other significant areas of cost, setting of nursery lees and other notable issues raised by the nursery's rnanagemenl. Strategic risks are reviewed by the Executive Cornmittee who ensuie Ih818ppropri8le actions are taken lo manage such risks. A Parents, Committee exists to provide engagement with and feedback to nursery management and to plan fund raising events. This meets monthly. Nursery rnanagemenl have full day to day responsibility and accountability for operation of the charitable business, wrthin the limits agreed with the Trustees. Little Echoes is a member of the Pre-school Leaming Alliance. who provided support in estsblishing the busines5 in 1991 and from whom it h85 reiVed PLA Accreditation. It also h8s Investors In People status. which was renewed following an inspection In 2020. Plans for futurè pariods 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 concentrate on redecorating of the interior and general renewal of lif&expired assets. We also recognise that some adaptations will be required lo ensure srnooth compliance with the Govemment's expanded scheme for subsidised childcare. Approved by order of the members of the b08rd of Trustees and signed on their behalf by.. DocuS*n•d by.. l10079DD8F4fj5 Mrs J Buick ITtusteel Date." 02-May-2024 Page 4
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) MENZIES BRIGHTER THINKING INDEPENDENT EXAMINERS, REPORT Independent Examinerfs Report to the Trustees of Little E¢hoe¥ Day Nursery Limited I'the Compan) I report lo the charity Trtjstees on rny examination of the accounts of the Comp8ny for the year ended 31 August 2023. Re¥ponsibIliti and Ba¥1¥ 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. This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reportsl Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I arn required to state to them in an Independent Examinerfs Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assurne responsibility to anyone other than the Company and the Company's Trustees as a body, for rny work or for this report. Do¢USnId by.. Signed.. Dated.. 02-May-2024 634F240E92A4471 Janice Matthews FCA Menzies LLP Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP Page 5
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 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 2023 Unrestrlcted funds 2023 Total funds 2023 Total funds 2022 Note Incom• from.. Donations and legacies Charitable activities 210 600.981 2.997 600.981 2,997 489,409 146 Investments Total Income 603.978 603.978 489, 765 Expenditure on.. Charitable activities 603.146 603.146 448, 776 Total èxpènditurè 603.146 603.146 448, 176 Net movement In funds 832 832 40,989 Reconciliation of fundB= Total funds brought fotward Net movement in funds 626.086 832 626.086 832 585.097 4Q.989 Total funds carrled fonward 626.918 626.918 626,086 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 10 to 19 form part of these financial statements. Page 6
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) REGISTERED NUMBER. 7668404 BALANCE SHEET AS AT 31 AUGUST 2023 2023 2022 Note Fixed assets Tangible assets 10 480,154 492. 793 480.154 492, 793 Current assets Debtors 640 Cash at bank and in hand 349,161 349,037 349,161 349,677 Creditors.. amounts falling due within one year 12 133,6851 150,388) Net current assets 315.476 319,283 Total assets less current liabilities 795.630 811,476 Creditors. amounts falling due after more than one year 13 1168,7121 (185,390) Total net asset$ 626.918 626,086 Charlty funds Restricted funds Unrestrided funds 14 14 626.918 626,086 Total funds 626,918 626,086 Page 7
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2023 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.. DocuS*n•dtsy.' FS570231N8A440.. Mr M Brown Director Date.. 30-Apr-2024 The notes on pages 10 to 19 form part of these financial statements. Page 8
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Cash flows from operating activities Nel cash used in operating activities 16,089 59, 746 Cash flows from investing activities Nèt cash providèd by invasting activitias Cash flows from financing activities Repayments ol borrowing 11S,9591 (17,8021 Net ¢a$h used in finan¢ing a¢ti¥itie¥ 115,9591 117.B021 Change in cash and ¢a$h equivalents in the year Cash and cash equivalents at the beginning of the year 130 41.344 349,031 307,687 Cash and cash equivalents at the end of the year 349,161 349,031 The notes on pages 10 to 19 form part of these financial statements Page 9
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 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. Income tax recoverable in latiOn to investment income is recognised at the time the investment income is receivable. 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the arnounl of the obligation can be measured reliably. Support costs are those costs incurred directly in support of expenditure on the obJeS of the cornpany. Governance costs are those incurred In oonnedion with adrninistralion of the company and compliance wrth 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 company apportioned to charitable activities. Expenditure on charitable activities is incurred on directly undertaking the activities whith further the Companys objectives. as well as any associated support costs. All expenditure is incluswe of irrecoverable VAT. Page 10
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting policies Icontinuedl 2.5 Tangible fixed assets and depreciation Tangible fixed assets costing £1,000 or more are capilalised. A review for impairment of 8 fixed asset is carried out if events or changes in circumstsnces indicate th81 the o3rrying value of any fixed asset m8y not be recoverable. Shortfalls belween the c8trying value of fixed assets and their recoverable amounts are iecognised as impaiments. Impaiiment losses are recognised in the Statement of Financial Activities incorporating Income and Expenditure Account. Tangible fixed assets are carried at cost, net of 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 property Freehold land Fixtures and frttings CompLrter eqvipmenl over 50 years 10°/D Straight line 20°/o reducing balance 2.6 Financial in¥trument¥ The Company only has finanaal assets and financial liabilities of a kind that qualify a5 basic financial Instruments. 8a5ic financial instturnents are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which ale subsequently measured at amortised cost using the effective interest method. 2.7 Penslons The cornpany operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. 2.8 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the gener81 objedives of the Company 8nd which have not been designated for other purpose5. Investtnent incorne, gains and losse5 ale allocated to the appropriate fund. Income from donatlons and legacles Unrestricted funds 2023 Total funds 2023 Total funds 2022 Fundraising events 210 Total 2022 210 210 Page 11
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Income from charitable activities Unrestricted funds 2023 Totsl fundB 2023 Tol81 fvnds 2022 Nursery fees 600,981 600,981 489,409 Total 2022 489.4Q9 489.409 Deposlt Interest Unrestricted funds 2023 Total funds 2023 Total funds 2022 Investment income 2,997 2,997 746 Toto12022 146 146 Analysis of expenditure by a¢tivities Aetivitiès undertaken directly 2023 Support costs 2023 Total funds 2023 Provision of Nursery Education 580,441 22,705 603,146 Page 12
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Analysis of expenditure by activities Icontinuedl Analysis of direct costs Provision of Nur¥ery Education 2023 Totsl fundB 2023 Tol81 funrls 2022 Staff costs 441,478 12,039 8.923 26,304 30,550 3,090 1,134 18,266 3,259 4,122 22,019 1,966 3,125 4,166 441,478 12,039 8,923 26,304 30,550 3,090 1,134 18,266 3,259 4,122 22,019 1,966 3,125 4,166 340,206 15,576 5.481 26,714 6,259 3,368 1,084 13, 776 Depreciation Rates & Water Light & He8t Repairs & Maintenan Insurance Telephone Expendable equiptnent, trips & consumables Ti8ining Subscriptions Food costs Advertising Sundry expenses Equipment hire & leasing 1.085 17,436 1,451 1,097 580,441 580,441 432.913 Total 2022 432,913 432,913 Page 13
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Analysis of expenditure by activities Icontinuedl Analysis of support costs Provision of Nur¥ery Education 2023 Totsl fundB 2023 Tol81 funrls 2022 Other Office expenses Accountancy fees Bank Charges Bank108N interest Sundry expenses 232 232 182 5,510 164 5,510 164 12,753 4,046 5,214 179 12,753 4,048 7,737 3,751 22,705 22,705 75,863 Total 2022 15.863 15,863 Staff costs 2023 2022 Wages and salaries Social security costs Contribution to defined contribution pension schemes 413,450 20,861 7,167 319,479 15.219 5,5Q8 441,478 340,206 The average number of persons employed by the Company during the year was as follows.. 2023 No. 2022 No. Stafl 23 21 No employee received remuneration amounting to more than £eo,000 in either year. Independent examinerfs remuneration The Independent Examinerfs remuneration amounts to an Independent Examination fee of £1,55512022 - £1,440), and accountancy services 01 £3,76012022- £3,480). Page 14
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Trustees. remuneration and expenses During the year, no Trustees received any rernuneration or other benefits (2022- £NIL). During the year ended 31 August 2023, no Trustee expenses have been incurred (2022- £NILI. 10. Tangible fixed assets Freehold Fixtures and property fittings Computer equipment Total Cost or valuation At 1 September 2022 543,014 126,828 4,149 673.991 At 31 August 2023 $43,014 126,828 4,149 673,991 Depreciation At 1 September 2022 Charge for the year 76,624 7,240 101,850 4,634 3,324 165 181,798 12.039 Al 31 August 2023 83,864 106,484 3,489 193.837 Net b¢)ok value At 31 August 2023 459,150 20,344 660 480,154 The freehold property is provided as security against the Mortgage INote121. 11. Debtors 2023 2022 Due within one year Other debtors 640 640 Page 15
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 12. Creditors: Amounts falling due within one year 2023 2022 Bank ltsans Other taxation and social security Other Creditors Accruals and deferred income 20,338 8,343 84 4,920 79,619 6,439 4.330 33,685 3Q,388 The bank has a First Legal Mortgage over the treehold property of Little Echoes Day Nursery Limited. known as Little Echoes, Whitrnoor Road. B8gshot. Suriey. GU19 5QE. In addition, there is a debentuie comprisirig fixed and oating charges over all the a55et5 and undertaking of Little Echoes Day Nursery Limited induding all present and future freehold and leasehold pioperty, book and other debts, chattels, and goodwill and uncalled capital, both present and future. The amount secured is £189,050 12022". £205,009) including £168,712 12022". £185,390) over more than one year. 13. Creditors: Amounts falling due after more than one year 2023 2022 Bank108ns 168,712 185,390 Induded within creditors falling due after more than one year is an amount of £80,17212022.' £99,726) in respect of liabilities which fall due for payment after rnore than five years from the balance sheet date. Page 16
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 14. Statement of funds Statement of funds- current year Balance at 1 September 2022 Balance at 31 Expenditure August 2023 Income Unrestricted funds General Funds 626,086 603,978 1603,1461 626,918 Statement of funds- prior year Balance at I September 2021 Balance at 31 August 2022 Income Expenditu Unrestrlcted funds General Funds 585.097 489. 765 (448.776) 626.086 15. Summary offunds Summary of funds - current year Balance at 1 September 2022 Balance at 31 Expenditure August 2023 Income General funds 626,086 603.978 1603,1461 626.918 Summary of funds - prlor year Balance at I September 2021 Balance at 31 August 2022 Income Expenditu General funds 585,097 489, 765 1448,7T6) 626,086 Page 17
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 16. Analysis of net assets between funds Analysi¥ of net assets between funds- Current year Unre8tricted fvnd¥ 2023 Totsl funds 2023 Tangible fixed assets Current assets Creditois due within one year Creditors due in more th8n one year 480,154 34g,161 133,6851 1168.7121 480,154 349.161 133.6851 1168.7121 Total 62e,918 626,918 17. 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 rn8xirnurn of £10 each in accordan with the Memorandum and Articles of Association. 18. Reconciliation of net movement in funds to net cash flow from operating activities 2023 2022 Net income for the year las per Staternent of Financial Aotivitiesl 832 40,989 Adjustments for.. Depreciation charges Decrease in debtors 12,039 640 t5,576 Increase in creditors 2,578 2,581 Net cash provided by operating activities 16,089 59, 746 19. Analysis of cash and Cash equivalertts 2023 2022 Cash in hand 349,161 349,031 Total cash an(1 cash equivalents 349,161 349,031 Page 18
Docusign En¥ÈlopÈ ID". D66BcFO4-8FB2426A841-g664cBlSA84 LITTLE ECHOES DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 20. Analysis of changes in net debt At1 September 2022 At 31 August 2023 Cash flows Transfers Cash at bank and in hand Debt due within 1 year Debt due after 1 year 349,031 119,6191 1185,3901 130 15,959 349,161 120,3381 1168.7121 116,6781 16,678 144,022 16.089 160,111 21. Related party transactions The aggregate remuneration for key management personnel during the year was £75,000 12022 - £75,0(K)l. There were no other related party transactions during the year. Page 19