Company registration number.. 08100944 Charity registration nwnber.. 1147882 Sunflowers at Grafton IA c4Jnwany limited by guarat)) Annual Report ond Financial Statements ror ihe Year Ended 31 Au8USt 2023
ontents Referenc¢ and Administrdtiye Details Tees, Repon 2Eo6 Stement of Tru51ees' Resporksibiliiies Independent Examio¢rfs R¢port St&emeni of Financial Activitie5 91010 Balance Sheei Notes ts) Financial Slat¢m¢nts 12to22
SuDflowers at Grafton Reference and Admioi3JTatl1$ Chalrman J Rainage se¢tary S Ettd Chgrity Rtglstrtion Number 1147882 Company Registr8tion Number 08100944 Th¢ chwity is IorpOrated in England aT¥J Wales. Sunflowers & Grafton East Grafton Marlbcffough SN8 3DB R¢2l$ter¢d Offl¢t Independent Examiner Sanswn & Co Limid l Meadow View High Strttt Burbage SN8 3AF
Sunflow t GraftoD The tee$, are directs)rs for the purposes of company law. present the annual report rogether with ihe rcial statements of the charitable company forthe %Ear ended 31 August 2023. Objeetivu And activities ObJe¢ts 4Md41ms To enhance the development and education of children UTKler ststu1( school age and of priw s¢hool ag¢ by ¢ncouraging parenis to underlland and provide for the needs of th¢ir children and by: Offtting appropriate play, education and care fxiliiies within the ¢ont¢xt of a welcoming and he741thy environment And ensuring provision of opportunities for all children rewd1¢55 of their race, culnjre. religion, meang or ability. - Providing opportunities for parenis and members of the c4)rnmunity to take responsibility for, and to become involved in. such adivities; - Working in partnership with parents. OT8anisations. professionals and th¢ local ¢onulluniry to en8ure the n¢¢ds of farnilies and their children are met: and Advancing the edUClOn and tr4inin8 of in the provision of sh play, education and c4re facilities as described above. Page 2
06ieclives. stra¢e8ie3 4ndaaivilies Our main adivity is the provi5iOTL of gr¢ thddcare on a for profit basis which usili9es our beautifvl natural surroundings. Specifically.. • Ofyted re8iStered nursery care for babie5 and thildTeD to 5 Yea from 7.50am to 6pm for 51 weeks ¢a¢h year.. . Ofste41 r¢8iSt¢red oul of school we for primary scknl children. spe¢ifallY breakf. after school and holiday clubs- and . Daily %hool tran5POrt for parish children lo onc of our I(1 primary &ool& The way we work Children are at the heart of everything we do and ai th¢ ts)p of the Iisi is makiThg sure all ¢hildren have fun, f¢el safc and are learning and developin& Along ihe line we makc sure that all the relewant Srawtory boxes arc ticked and that all ollr paperwork is in gd order. Tk way w¢ work 15 guided by i)ur ¢(re values: Nra1. Communiry and Growing. N*turnl - outdo adventures are fundamentsl trj the Sunflowers ai Grafton experience. We put a$ much lime. planning aTHI reSwr¢1n into our outd(Kir space LS we do io our indoor environment, ¢re4ting a place i which ¢v¢ry Child ¢¥n ¢onn¢a with nature. We lov¢ the outhr& we love nattue and we love 411 w¢ather5. We keep ihings $impl¢. hon and practical - our re]lOnShIpS with our families. to poli¢ic$. procedures and pri¢in8. Commuthlty - We are pan of a thriving nal communtry uhich is incredibly 5UPPOrtive. We encourage evcryone, including par¢nis, our aM and members of our local community to play an active pan in our progress. We work together so thai the children ai Sunflowers have the nwsr fanta51i¢ ¢xp¢rien¢¢s which will give ihern the besi possible foundations for life. Sunflowers at Grafton is a re8isiered ch8riry, based in buildings previously occupicd b> th¢ p4ri$h s¢hool which closed in 2011. Every penny of surplus inc(e goes INO making Sunflower5 an even better place. Crowing . We are continually exploring ways in which to do things bett¢r and encourage fttdback from familie4 our team and ihe community io help us improl'e. Our activit1¢5 are managed and run by a qualifKd, professional ie4m. SunfloM'er5 01 Grafton is a significant loca] employer. with over 20 fijll-iime and pan-time employee5. The majority of these roles fill¢d by r¢sid¢nts of Grafton Porish or neighbourin8 Parishes. We have high expectstions and every member of the team plays a key pan in our sueeess. Roles and responsibilities are clearly defined and the leam work together effectively to d¢liv¢r amazing service. We look for regular opporwnilies to involve members of ow local community lo Share their skill& expertise and time on a voluntary basis. Sunflowers at Grafton is committed w safeguarding and promoting the welfare of our childrert and expects our staff tedm and volunteers io share th commithient. Page 3
Sunfl Trustees, Re Aehitvethents Rd performnc¢ The year had a backdrop of political ad ttouomi¢ turmoil. ID addi¢ion lo I[wag the implications ofthe cost (>f living crisis we srarted feel the ]Mt of clwwES wrought into family life and the emplo>meni markei by the pand¢inic, specifically the rise in w01n¥ froTn homc and the compressed working week. 'rhe early years sector b¢gan to see ehanges bcxing patterns emerging and to report that a higher proportio of Children families Deeded additiona] support follow'inb ¢be pandemi¢. These factors compound the Ollgoing challenges of widerfunding and rrcruitnth and rCt¢nIi in th¢ Sector as A whole. In March 2023 a significant exiension ofv&Tly T9 funding to SUPlKrft workin& parents was announted in the Spring budget. This causcd ripple.s acro the sector with fears of the underfixnding erisTS extendrng and furtr threatening sustainability. Overlaying this comp]ex national picture we saw Silf1¢an1 local Changes at our local primary sehools which impacted our wrap# care wiposition. These fiLndam¢nlal market shifts were a prompt kn review our sir&iegic priorities and consider fresh perspg¢tive5 d n¢w ideas. T51¢¢ Work Streams were realigned to facilithtr thi$ Thi¢w proc¢ss with a continued focus on OUT building and a renewed focus on Iorne sire8ms. From un op¢rdtional perspective we on with what w¢ do so well - providing ¢xceptional ¢are and educ10. In My 2023 we had an Ofsted irtspeciion and were delIghd io maintain ihe Go(Nl ratin8 we have held conLinuou51y since opening. An Outstanding raiing irt the Pernonal DevelopmL¥nt eategory was a wondertiil rceognition of our focus on 5UPPOrtin8 children lo have a posilive 5ertse of thcmsLlves. rLSPCCi for others. SLKial skills. ernotional w¢11-Ing a[ a positive disposiiion io learning. Team welfare and well-b¢irtg i¢m4ined front of mind a5 the cost of living crisis took effecL A team hub was created io sharc idca$ lo help us save energy and money both ai work aThJ ai h)me and cosi of living supporn w&s provided io ihe teom. CL.l¢bra¢ing individual miiemones and a continued commimieni io education and trdinin8 reinfore¢d our commitment to the team who work so brillianily to make SLU)flowers al Grafton such a spcci81 place. PMbll¢ benefll The trustees confTh thai th¢y have ¢omplied with the requIren* of SttTiOn 17 of the Charitles Act 2011 to have due regard w the public benefii guidanv published by the Charity CMISsion for England and Wales. Community access lo our gardens and play8round: making our minibus available for htre to wmmunity groups. and supporting conununity ¢v¢nts are all part of our ¢ommirment io Grafton Parish. We are &lw8ys conscious of our impxt in the commuftiry aJbJ members of our ieam give th¢tr time io support other community aetivities and e¥ents. During 2(522-23 th¢ Sunfk>wers' team ¢ontinued to sUPPOrt our local baby and tlmldlcr group, organised the amiual parish litttt pi¢k alld produ¢tii)n and delivery of our communiry ncwslcttcr. Page 4
t Gr8fton Trustees, Re Finan¢ial r¢vi¢ During the 2022-23 reporting period Sunlk)Mtrs at Grafton received income totall1 £456,787 (2022: £432.437). Th¢ majority of this comes from childcare f¢es. Expenses totsj £460.092 {2022.. %430.608). Salaries propeny coms and ConSbIeS relating to thc provisiun or childcare services are the highest expense iterns. £4.445 of these expenses are set winsi the £15,000 Building and Grounds Fund s¢t asid¢ in 2021 for ISen111 building and mLtnienance. Trnstees are mindful of the slim opeMionAI defieit (2022 - slim oimtional su]uS} of the SilfICance of their role in setting str8t¢gi¢ aims aDd dire¢tion and Agre¢itig appropriatr plarns for a secur¢ fuiure. Polley on reserb In setting our reserves policy. we are cons¢i¢)us of the need io enswe ihal sufficient reser¥es exisi to enable norn]al operaiing activities ro continue in the evenl of variations tn income llnd io thke ¥¢ounl of ¢$sential unplanned expenditure in the year ahead. The balance of unrestricied at the end of August 2023 was £81,863 (2022 . £89. 958) and include$ the followin8 designaiions.. - Contingency reserve £55.000 (2022 - £55.(KKI) General fund £1 1,86312022- 19,958) - Building aThJ grounds fjjnd £10.555 {2022- £I5,(K) TTU¥tees have assessed the risks faced by the orsani5ation and their likely ¢os¢ implic&tions and airn to build our Continkyency Reserve Fund 10 £88,51)O which equates to 3 months of Op4110nl ¢xp¢ndiiur¢. Whilst our CunlinsyLrKy RcsL'rve Fund rcmain$ bL.low the d¢sir¢d £88.500. Th¢ ¢Nstees arc ¢omfortablc lIh the overall level ofre5erves. Reserves will be rnonitored quarterly by the trustee5, looking Ix)th * currmt free reserves aTrJ the forecast position for ihc year end. This ¢nsures remedial xtion can be taken quickly if required in the event of an unexpecled, signifKanl or irreversible defKiL Page 5
Sunllow¢rs at GrattLn Strntturei governance and m8Daymeol Orgqnlsadonal slructhre Sunflowers at Grdfton is a ¢haritsble ¢c¥npany limited by guar3n¢. Th¢ OTganisation is governed by A Board of Trustees. Each is required io a dire¢tor of the ¢ompany. At each at)nual general meeting one-ihird of trust¢¢s must reiire from offi¢¢ and are then eniiikd stsnd for r¢l¢¢tiw. The direaors and board of mjsiees tw 4 times a Vfdr io decide on such maners as stralegic wlicies and major de¢ision$ relating to ihe affairs of Sun1]0r$ at Grdftw. The board of truAees is SpecificlY required to deterniine ¢hild¢ar¢ fees and ¢0 tske responsibility for the organisations assets. Each of ihe SteeS guardntres io pay the s of £1 in the event of insolvency. A memorandwn of asso¢iaiion Is in place which detsils the objectives and powers of ihe chariiy it is governed by arti¢les of ass(Kiation. All tnJ5tecs and voluntrers give ol. their tirne freely and no remuneration LY expenses were paid during the reporting period. A Busines5 Miwigcr r¢port5 lo the BoArd of Trustee5 and leads the Senior tAdership Team (SLT) which manages ihe daY4daY operations. Trustees •d offietrs ThL IrusteL's and uffi¢¢rs serving during the yew ond since th¢ yr end were # follows.. Ttwttts: T Reay S M¢Call8 N Aircy J Rama8e J Leigh (Resi 23 May 2023) S Burkext R Anwld (Resi4 23 May 2023) C Tarbox G Winn Chairni&n: J Rathage Secretary.. S Ertglnd The annual report was approved by the trus*es of the clwity on 26 September 2024 And sId on its behalf by.. J Ratnabie Cha]rnI al TStr¢
rgfton Statement of Trnstees, Responsibilities The tThstees (who are also dir¢thiJr5 of Suntlo4%trs Grdfton for the PUTW15e5 of rornpany law) tre responsible for preparing the trusttts, report and the finaneial Semen[S in x(4)rd with applicable law and United Kingdom Accounting Stsndard5 (United Kingdom Genernlly Accepted Accounting Pradicel, including FRS 102 "The Financial Reporting Stsndard applicttble in tk UK and Republic of Ireland". Company law requires the Inl¢eS to prepare financial sments for ea¢h finan¢ial )Ear. Under cornpany law the trustees must not approve the financial siatemcnts unless they are l$fied that ihe) give a fair view of the state of affairs of ihe Charlble company az)d of the in¢oming r¢sources and application of rewllree& including its income and expLmdiiure, of the charlble company for that period. In preparing these finAncial statements. Ihe misrees are required io: select suitable a¢£ounting p)licies and apply ihern tonsistently. ob5¢TV¢ ihc m¢ihiyJs and principles in the Charities SORP. make jud8emenis and estimates thai are reasonable and Prudent: state wheth¢T applicable accounlins standards, oomprisinb. FRS 102 have been followe¢ subject lo any material departures di5clos¢d and explahned in the financial srments. and prepare the fman¢ial ststem¢nts on the going ¢on¢ern bagis unless il is inapproprial¢ to presume that the charitable company will Continue in business. The trusiees Rre responsible for kttping proper accounting records That can diy¢lose with reasonable accuracy at any lime the financial position of the charitable ccrfnpany al Lmablc thcrn lo cnsure that the fjnancial slaieinents Comply with the Companies A 2006. They are also responsible foT safeguaTding th¢ se15 of the charitable company and hence for taking re&sonable steps for the preveniion and d¢tIOn or rraud and other irregularities. Th¢ ¢ruste¢s or¢ r¢spon$ible for ihe mainiertance and inlegriry of the corporate and financial iDfornwiion in¢lud¢d on th¢ ¢haritabl¢ ¢ompanYs website. Legbslaix)n governing the prepaTUtion and di53eminoiion of financial ita(emen¢s may dilT¢r from l¢gislwion in jurisdirtion Approved by the trustees of the chariry on 26 Sepmber 2024 and SIed on it$ behalf by: J Ratha¥e Chairnian and truytee
ow rnfton Indep¢nd¢nt Exminer's Report to the trustees of Sunflowers at Grafton ('the Compny') I report to th¢ charity tru5¢¢¢5 My uamination of the accounts of th¢ C(xnpany for the year ended 31 AuwLSt 2023. Responsibllitles and basis of report A5 the ¢harity's tru5t¢¢s of the Company (and also its diTeciors for the purposes of company law) you are spon5ibl¢ for thc prcpardtion of the eccounts in accordance with the rrfuiremth¢s of the Companies Act 2006 {'Ihe 2006 Acl'l. Ilaving satisfied myself thai the oUNts of the c.ompany art not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respcct of my examinatkon of vour charity's accounts &8 carried out under section 145 of the C.hariiies Act 2011 ('the 2011 Aci.). In carrying out my ¢xamination I have lollowed the Direciion$ given by the Charity Commission under section 145{5)(b) of the 2011 Act. Indep¢ndeni ¢x4tnlD¢r'$ statern¢mt Since the Companys gr055 irKome exceeded £250.000 yow examin¢r must be a member of a body lisied in section 145 of the 2011 Act. I confirm l am qualifivj io unde the examinaiion because l am a member of ICAEW, which is one of the listed bodies. I have ¢¢)rnpl¢ted my examirli0n. l eonfimi that no mat*rs hav¢ ¢ome lo my aen110n in CCtion with the examination giving me cause to believe.. 1, occountin8 r¢¢ords w¢re not k¢pt in respect of Sunllowers ttt Grafton as required by s¢¢tion 386 of the 2006 A¢t: or 2. the accourns do not accord with thoye record& or 3. the 8¢¢uunts do n(rt ¢omply with the a¢¢ounting T¢quir¢ments of seciion 396 of the 2006 Act h¢r th ally quIreMeI ihat the a¢¢ounts 8iv¢ &'Lru¢ and fair vicW which is a malter con5ideTed as part of an indep¢ndent examinF4tion; or 4. the aceounls have not been prepared in cOrdanCe with the mhOd$ and principles of th¢ Ststcment of Rlommended Practice for aecouniing and reponing by chariiies lapplicab]e w charities preparing their accounts in accordancc with the Financial Reportin¥ S)dard applicabk in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other rntter5 in ¢onne¢tion with the examinati(bn to which allentlQD should be drawn in thi5 fepon in order io enable a proper undersianding of the a¢1$ to be r¢ached. M Sansum FCA ICAEW l Meadow View High Street Burbag¢ SN8 3AF 26 September 2024 Page 8
Sunflowers at Grafton ment of Finaneial Activities for the Yea IAU A¢¢ount and Stat¢m¢Dt 0fTOtLlns Is Totsl 2023 VThres¢ri(ted Re$trkted Note Ineome #nd ETrdowmenls from: Donations and lega¢i¢s Charitable activities Other income 1,377 433.584 17.326 1,377 438.084 17.326 4.51)0 Total Income 452.287 4,500 456,787 Expenditure OD: ChaTitable adivities Other expendin]re To(al Expendiiure (438.6081 (2,108) (508) {440,7161 119,376 457.476 2,616) 1400,0921 Net lexpenditureyincome 15.189) 3,305 Net movemeni in fiulds {5.189) 1.884 (3.305) Recon¢iliition of funds Total funds brought fonvard Total funds carried forwaryl 89,938 90.958 19 84,769 2.884 87,653 The notes on pages 12 to 22 fonn an integral part of these fmancial statements. Page 9
ment of Financi us enditure A¢CoJwLLSknt ofTotal R¢£oLg&1nS aDd Lo$sv) Y ar Ended 3LAuLL2Q23 For tke ye8r ended 31 August 2022 Tothl 2022 Unrestricted Restriett41 Nole Income and F.ndowments from: Dtsnations and lega¢ies CTharirable activities Oth¢r income 249 411.438 16.280 249 415,908 16.280 4,470 Total Incorne 427.967 4.470 432,437 ExpendStur¢ oth: Charitable activities Oth¥r exp¢nditur¢ Toial Expenditur¢ Net in¢om¢l(expenditurel {410.263) {15.375 {4.470) 500 (414.733) 15,875 425.638 4,970 430,608 2,329 (500 1.829 Nei movemeni in fiJnd5 2.329 15(M)) 1,829 Reconclllatlon of funds Total fund$ brought forward Total tunds Carried forward 87.629 1.500 89,129 90,958 19 89,958 1.000 All of the charity'5 aclivitie5 derive from ¢ontinuin8 operalions dwing the abov¢ two periods. The fLthds breakdown for 2022 Ss showrt in note 19. The notes on pages 12 to 22 forjn arl illtryal part of these fin8n¢ial stapments. Page 10
SuDflowers at Grnfton (Registration numbcr. 08100944) Balanee Sheet as at 31 August 2023 2023 2022 Not¢ Flxed assets Tangible assets 14 7,015 7.994 Current assets Debtors Cash at bank and in hand 15 16 24.502 69,346 21,271 75,461 96,732 93.848 Credltors: Amounts fgllift8 dt wlthin ole ye•r 17 {13.210 13.768 Nef ¢urre•t •s$ets 80.638 82,964 Net assets 87,653 F*nds of the eharlty: R¢stri¢ted income fynd$ Rtstrictcd funds 19 2.884 Unr¢$lrl¢t¢d In¢om¢ funds Unre5triCted fid5 84.769 89,938 Total funds 19 87.053 90.958 For the financial year ending 31 Au8USt 2023 ihe chariry eniitled io ¢xemptioD from audit under s¢ciion 477 of the Ci)mpanies Aci 2006 relaiing io small ¢omp)ni¢s. Directors, responsibiliti¢s'. The member8 have not required the charity to obtain audii of its for the year in question tn aeLordanee wilh seclion 476: and The director9 xknowledge their responsibilities f4)r ¢omplying with the requirements of the Act with respect tij arcountin¥ rerords and the preparation of accounts. The fin&neial statements on pages 9 to 22 were approved by the tru51ees. and auihori%d for issue on 26 Septrmber 2024 and signed on their behalf by.. J Ralnage Chairman and Trusttt The notes on page$ 12 to 22 forni an integral part ofthe5e financial staiement Pagell
Sunflowers at Gra_ft.o Notes to the Financial Stal¢rn£nl I C&&rity 5tatu$ The ¢harity is lirnit¢d by guarantee. in¢(ffpor2ted in England and Wales, and consequently does not have sharc capital. Eath of the trustees is liable io contribute an amouni not exceeding £1 iowords the assets of the ehariry in th¢ ev¢nt of liquidation. The addre55 of its re¥istered Offi i5: Sunfk)wers at Cdfton East Grdfton Marlborough SN8 3DB Th¢s¢ financial stalcments were authori5ed for iy5uc by the tru5¢¢cs 26 Sept¢mb¢r 2024. 2 A¢¢ouN¢ln8 poli¢its Summary of slglllfitant aeeountlng lkIeS key ecouAtItt8 estlmbates The principal aceounting policies applied in the prepara11( vf these f1118ncial s¢4i¢ments ar¢ sei below. Thes¢ policies have be¢n 151¢tlY applied ¢0 all the vears presemed, unless otherwise stated. StattThent of cornpllinee The fina181 staiements have been prepar¢d tn accordance with Accounting and Repffiin& by Chariti¢s.' Statement of Recommended PtICe (applicable io charities ppar)rtg their a¢¢ounts tn a¢cord8nc¢ with the Fin0la7 R¢porting Stondard appli¢obl¢ in the UK and Republic of Ir¢larbd (FRS 102)) {issu¢d in O¢tob¢r 2019) Ichariiie5 SORP IFRS 102)}. Ihe Financial Reporting Siandard appli¢able in the UK and Republic of Ireland IFRS 102) and the Companies Act 2¢Th. Bshs 0(preparAtIo Sunflgwer5 at Grafton meets the definili¢)n of a publi¢ benefit entity under FRS 102. Asse¢$ and liabiliti¢$ or¢ inilially (0815¢d at historical cosi or transxtion value unless othenvise ststed in r¢I¢v( accounting policy notes. Colng concerD The trustee5 consider that there are no rn8rial uncenainties aboui the chariiys ability io contiDUe as a going COnrn n(Y any significant areas of uncertainty ¢hat affea the caTryitt8 Ydlue of as5e15 held by ihe charity. Elernption frorA preprlng 8 ¢sb now st#¢m¢llt Th¢ Charity opted to early adopt Bulletin I published on 2 Febnwy 2016 and have therefore not included a cash flow statement in these fittancial statemeDfS. locoffle and ¢ndowm¢nts All incon]e is recognised once the cTrwity I entitkmeDi io the itKom4 it is probable that the income will be received and the amount of the income receivable can be rneasurnl reliably. Page 12
rEn ed31A t 2021 Dot)ations ar¢ r¢¢ognised when rhe charity has been notified in wiling of both the amouni and settlement date. In th¢ ¢v¢nt that a donatiori is subje¢1 io ¢onditions that r¢quire a level of pafomwce by the charity before the charity is ¢Dtitl¢d to the fimd$. the in¢om¢ is deftrred aJM1 not recognised unril either those conditions Are ffijlly meL or the fvlfilment of those coThJitions is w.holl> within the Cl0[ of charity and it is probable that these onditi5 will be fvlfilled in the reportinb, period. Granlj receiyable Grants aTe recognised 7then the charity ha5 In ¢niitlemen¢ to fiults gmd any cordilions linked to the grant5 have been met. p¢rfoTmanc¢ COTvJitions #re attached io ih¢ grant and are yel to be met, the income is recolS¢d as a liability and included cffl th¢ balance sheet d¢f¢rred in¢om¢ io be released. ExpertditMr¢ All expenditure is Te¢osnis¢d once there is a legal or constyuaive obligati(m to th expendiDJre. il is probable $cttleTh¢nt is qUIr¢d and th¢ amount can bc nwasur¢d rcli4bly. All eosts are allocated to the applicable expcnditurc heading ihat ag&are similar c08Ls ro caiegor).. Where ¢ost5 ¢annot be direcily attributed to pmiiular headings ihey have been all1¢ on g b8sis ronsisieni with ihe use of resources, with central staff cL)sly #llora¢cd on the b&sis of lime y'nl, and dLprcciation cha¢¥ all(ted on the porrion of the asset's Use. Other suppon costs arc allated bascd on ihc sprcad of S1T¢05ts. Rolslgfunds These costs are incurred in 8ttrKiin8 volwiwy income. the managemeni of invesunents and those incurred in trading activiiie5 that raise funds. Charllqble acllwllles Charitsble expenditur¢ eomprises those ¢osts incurr¢d by the eh2rity irt thc dellvery of lis activiiies a setryices for its bL"n¢fi¢i4ric5. 11 incl1¢5 both costs thai can b¢ alkKai¢d dirffily lo such a¢tiviti¢s and those wsts of an indirLYl naturc ncc¢s5ary io support them. Support cosis Support ¢OSts include central fundi¢)ns and have been #llocated io a¢tivity Cost ¢aiegorie$ on 8 basis wnsislent with the use of resources. for example. alalIng property costs by fl¢)or aTe&s, or per capi1& Staff costs b>. the lime speni and other ¢05ts by their usage. CovernAnee costs These include the cosis attributsble lo the chariiy's compliance with constitutional and Sta10ry requirements including audit, strategic rnanagemeni aThl tree5 Jneelings and reimbursed expenses. TaxAtknn The charity is considered io p&$ the tests set out in Parngrph l Schedule 6 of the Finance Aci 2010 and thwefore it Meets the definition of a ch8ritsble company for UK corpornion tax purposes. Accgrdingly, the Charity is p)teniially exempt from thxaiion in respeci of income or capi1 gains received w'ithin categories ¢overed by Chapter 3 Part I l of the Corporaiion Tax Act 2010 or Section 256 of the TwtioD gf Chargeable Gains Act 1992, w the extent that such income or 15 are applied exclusively to charithble purp05¢5. Tgnglble fixed as%ts Individual fixed assets costing £250.00 more are iniiially recordal ai cos( less aDy substyuent Krumulat¢d depreciation and subsequeni acclJmul&ed impairnKnt losses. Pag¢ 13
nfloThers Ydt heFi tements for t IAU st 2021 Depreciatlon and amortisatio Depreciati(m is PTovided on langible fixed 1gsets so as to WTit¢ off the cost or valuation, les5 any estimated residual value, over their expected useful t)nothi¢ lifr as follows.. Asset class Office equiplnent Pre-scho()l & nursery equipment Fixtures & fitlin8S Motor vehicles L£&sehold improvements Depr¢¢l¥tlon method and rAts j3•10 styaight line 3311A straight line 330h 5traighi line straighi line IO% strai8hi line Trade delxors Tre debtors are 8mounts due from Cusiomers for rnehandi sold or services perforni in the ordinwy ¢wrs¢ of busin¢ss. Trade debtors are recognised initially at the trnisa¢iifm PTi¢e. The>. aTe subsequenil), measured at anwrtised cost usin th¢ ¢tTe¢LiW¢ intL'f¢sL mLihod. less provision for in1paienl. A provision for ihe impainxenl of trade dcbtor% 1$ e#ablishLd whLn thcrc is objective evidence tha¢ ih¢ charity will be able 10 colleth all amounts due aceording io the original ternis of the receivables. Cish And ¢Aih equlY•l¢nts Cash and cash equivalents compris¢ cth on hand and call dcwsils. ojjd other slk)rt-tern) highl), liquid investmenrs that are readily convcrtible io a knowi) amouni of cash and are subject to an insignificanl risk of changc in value. Trade ¢rcdilors Trade creditors are Oblig105 lo pay foT bMKMts or services th have bttn acquired in th¢ ordinw course of busine$5 from supplieTS. Accounts p8y¥bl¢ art classified as curreTht liabilities Èf thc charily does wi have an unconditional right, at ihe end of the reporting perio& 10 defer settlement of the ¢rediior for ai least twelve months after the reportin dat¢. If ih¢re 15 an unconditional Tight io defer settlcmcni for at least twelve months after the Teporting date, they are pres¢ni¢d a$ nonacurreni liabilitie5. Trade creditors are recognIs initially * the tration price and subsequently measureil at amortised cosi USln8 the effective interest meth(xl. Page 14
Sunllowers At Grafton to the Financial Statements for I rEn 023 Forelgn exebaoge Trdnsactions in for¢igrt currertcies are recorded ai the rate of exchange at the date of the transaction. Monethry assets and liabilities denominated in foreign eurrettcies * the balance sheet date aty reported at the rates of xchange prevailing at thai dale. The results of overse&s operation5 are translated at the average rntes of exchange during the period and their balAnce sheets at the ratrs Nling at the baiance shffi date. Exchange differcncw ari5ins on iranslaiion of the opening net asseis and results of overseas operatiS are reported in other comprehensive income and 8ceumulAt¢d in equiry latbut¢d lo non-¢ontTolling inieresrs as appropriate). Other exchange differenc¢s are recognised ifj the Stai¢meni of Finan¢ial Activities ITJ the peTiod in which they arise except for.. l) ¢x¢hang¢ differe)¢$ on tranwtions ¢nter¢d inlo to hedge certain foreign currency ri5k5 (stt above)., 21 exchange differences arisin¥ on gains or losses on non-monewy it¢mg which are recognised in other comprehensive income. and 3) in the case of the consolidated financial stsiemcnls. exchange dilTerences on murKl8ry iiems receivabk from or payable io a foreign operalion for which settlcmcni is ncither planned nor likely lo o¢¢ur lthereforc fomiing Pdrt of the n¢¢ inN'¢$tsn¢nt in ihe foreign op¢raiion). which art recognised in other comprehensive income and reported under equil>. Fund itructure Unrestricted income funds are general funds are avaiiable for use ai the truses discretion in furtheran¢¢ of thL' objectives of the chariiy. 1)C%ignat fund5 ar¢ unrc5Clcd funds set a51& for sp¢cifK pwposes ai the discmion of th¢ rue¢s. Restriaed income fimds are those donared for use in o particular area or for specific puryoses. the use ofwhi¢h is restricted io thal area or pwse. PeDsIon5 Ind other Post reilreTheDt obligatioD5 The chariry operaies a defined contribution pension scheme lch is a pension plan under which fixed contribuiions are paid irtio a pension and ihe chariry has no legal or constrnctive obligation w pay further contriblOnS evcn if the fund doe8 rKJt hold suifiticni assets to pAy all employees the benefits relating to employee service in the current and prior pericth. Contributions to dtfmed contribution plans are r08lSed ill the Siatement of Fitwicial Activities when ty ar¢ due. If conrrIb10n pa>Thents excttd the contribution due for service. the excess is re¢o8nised as a prepaent. Page IS
nflowers at Grafto Fin ial Statements rOLlhL¢LE3l Au£u$t2Q21 3 In¢o)D¢ from donations amd legaciES Unrestrietsd funds Ceneral TotAI fund$ DonatiotLS and legacies: t)onaiions from fundrnising events ,377 l J77 To¢AI for 2023 .377 l J77 Totil for 21)22 249 249 4 In¢ome from th#rlt#ble *etlvliles UWVrictcd f¥nds Geoeral Restricted fyndi Totsl funds Childcare income 433,584 4.51KJ 438,084 Total for 2023 433.584 4.5(Kl 438.084 To1 ftjr 1022 411.438 4.470 413,908 5 OtheT In¢ome URr¢strl¢ted TndS General Total Minibus and oth¢r income 17.326 17.326 Total for 2023 17,326 17,326 Tot#1 for 2022 1fj,280 Page 16
Noles to the FinaD r Ended 31 AugusL2Q 6 ExpditUre on eharltsble ¥etiviti Unrejtrieted fv•ds Dtti8llte Gentrl Resiriet¢d fund$ Total funds Note Childcare inccone StatTcosts Allo¢at¢d $upwrt 05ts Governance costs 30,757 353.423 1278 830 32.035 354.253 4,178 46.597 3.653 50.775 3.651 Tot#1 for 2023 4,178 434,430 2.108 440,716 TotAI ftsr 2022 410.263 4,470 414,733 Ir addition to the expcndilurc analysed above. there are olso gov¢rnanR c05t$ of £3.653 (2022 - £3.2171 Mtsich relate directly to charithle a¢iivilies. See n4xe 8 for fiuth¢ff dthils. 7 Other ¢xp¢ndlture UnreslrAeted fuDds Dtt4n*ied C¢Deral R¢stri¢ted ruDd$ Total funds Nole Staff eosts Wages and wlaries Other aff ¢osis Depreciation. gjnon1l10n and other similar ¢0 Minibus expendiiure 5,027 50 5.027 50 267 2,913 10,611 508 3,688 10,611 Totsl for 2023 267 18,601 508 19,376 Totsl for 21J22 15,375 500 15,875 Page 17
Notes lo the Fin , h Year EndedlLuLsL2QU 8 A Thaly5b of %overnan¢e ¢t5 Gov¢rnan¢e costs Unrestricted fund5 Gentril Totsl fu#dJ Independent examiner fe¢5 Examination of the fuwicial statemenr5 Oiher fees paid to examiners i£byal lees Other 0vernall¢¢ ¢OSLS 1.428 1.031 397 797 1,428 1.031 397 797 Tot41 for 2023 3.653 3.653 Tot1 for 2022 3,217 3.217 9 Nel illeomill8loutgoln8 resoiirees N¢L (oui80ingFincomin8 resources for the year include.. 2•23 2022 Depre¢iailon of fixed assets 3.688 2,703 10 Trustttj rernunerntlon expen5 No trusiees. nor any persons corLnethed with them, have re¢eived any remuneration from the charity durin8 the y¢ar. No Lrustee5 have received any reimbursed expenses or any other benefiiy fr(Jm the ¢haTity during the year. 11 St8ff ¢05ts The a88regate pa>ToII ¢osts were as follows.. 2023 2022 Staff eo$ts during tht yer were: Wages and salaries Pension cost5 Other staff Costs 348,123 9,095 2.112 333.475 6,076 .133 359,330 340,684 'I'hE rnonihlj average number of persons (including senior managernent / leadership am) employed by th¢ charity during the )e4r expr¢wd full cquivalents was as follows: Page 18
Notes to the Financial Sttrme rEnd us¢ 2023 2112J 21122 averag¢ number of persons ¢mployed 15 No eTnployee received ¢nluments of tnore ihall £00,000 drIng the year. 12 IndepeDdemt eiaJDinerfs erxi1o 2•23 2022 Examination of the financial sements .428 1,3&1 Other fees to exarnlners All other services 1.031 938 13 Taxitlon The ¢haTity 15 a r¢gi5¢¢r¢d charity and is therore ex¢TllP¢ from tyKion. 14 TaTh%ibk fix *$J¢ts LAnd #nd buildin89 Furniture and equipment Other t•ll%lble fIX Asset Motor vehlcles TotAI Cost Ar I Septernbcr 2U22 Additions 7.389 2,709 4.359 26.230 22,463 60.441 2,709 At 31 Augusi 2023 10.098 4,359 26.230 22.463 Depreelatlon At I September 2022 Charge for th¢ year 4.723 860 3,641 385 26230 17.853 2,443 52.447 3.688 At 3 l Augwsl 2023 5,583 4.026 26.230 20 96 56.135 Iyet book vallle At 31 August 2023 4,515 333 2.167 7.015 At 31 Aug1 2022 2,666 718 4,610 7.994 Included within the net book value of laThl and buildiny above £Nil (2022 - £Nil) in respect of freehold land and buildings and £4.515 (2022- £2.606) in respect ofieaseholds. Page 19
Tr'inaneial IS Debto 21123 2022 Trade debtors Prepayments Other debtors 19.755 4,058 689 16,898 4.373 24,502 21,271 Trade debtors include debt t1 is currentty due for paywt totslling £5.78412022.. £J.402) 16 Cgsh ind cash equiv*lertts 2023 2022 Cash at bank 69.346 75,461 17 Credliors: I0nIS fallln¥ due wiihiD one ye•r 2023 2•22 Trade creditors Other creditors Accruals 657 7.256 5.297 1,299 7.157 5,312 13.210 18 Penslon and olher sehemes Dtfind ¢ontribu¢loa penjion scheme Thc charilv OPLrates a defined contribution pension herne. The pension CO charg¢ for th¢ y¢ar represents onlribution4 pav&ble by ihe chariiy io ihe %heme and amount¢d ¢0 £9.095 (2022- £6,076). Page 20
Notes lo the FID nts for nd¢d 31 Augu&L3 19 Funds Balanee It I Seplember 2022 RalYiDce at 31 August 21123 expended UDrestrict¢d fuDd$ Gener41 General fuNI$ 19.958 452.106 (452,850) 19214 DesI%ned Contingency r¢serve Buildings and grounds- essential mainenance and improvements 55.0 55,000 15.OlJ) 4,445) 10.555 70,000 4,445 65,555 Tot41 unrnstri¢ted fond$ 89.958 432,106 1457.2951 84.769 Restricted fuAds Grant income Inclusi fibndjng Total restricted f¥Trds 1.000 (500) (2,116 50LI 2,384 4.51YJ 4,500 2,616 2,884 Totsl fundj 90.958 459.911 Blnce at I Septtrnber 2021 B#l•nce #t 31 August 21122 lweoming Rtsourees expeDded Trgn$fers Unre5trlct¢d funds Genernl General funds 22.628 427,967 (42J,637) 15,000) 19,958 Deslznaied Contingency reserve Buildings and grounds- ¢ssenti41 main¢nan¢¢ atMI improvEm¢nts 50,(KK) 55,000 15.IXX) 15,000 65.( 5.IKJO 70,000 Total unrestrieted fMn(Ls 87,628 427,967 {425.637) 89,958 Restricted Grdnt incom¢ 1.51X) 4,470 {4.970) 1,000 Total fMDds 89.128 432.437 1430.607) Page21
t Grafton Notes to I 20 Anatysis of n¢1 ss¢ts betw¢¢n fvod$ At i l Auw&i_?_Q23 Total funds Al 31 August 2023 Unrestricted funds Gener81 Designlied R¢stritt¢d funds TEngible fixed a%8ets Cutten¢ assets Current liabilities 4.341 93.848 {13,210) 1.590 1.084 7,015 93.848 li.210 Total nei assds 84.979 1,5(MJ 1.084 87,653 UDrestrlcted Totgl funds at 31 August 2022 Re5tr1¢ted fundg General Tangible fixed &sseis Current &ssets Current liabilities 6,994 96.732 113.768 1,000 7,994 96,732 13,768 Tal net assets 89.958 90,958 21 Rel#t¢d pArty tetionS There were no relaied party transaction5 in ¢he year. 22 Off-balnce Jheet arrnn¥ements The charity has enier¢d inio a le&se agreement for the use of a mintlyjs. As 31 Augu51 2023 the charity is committed to pay £3.60012022.. £7,200) over the tem) of the leaqe. 23 Analysi# of net Septernber 2022 FiA*ttCill¥ eash At 31 Aug4st flows 2023 Cash at bank and in hand (6.115) 69,346 Net Ikbt 6,115 69.346 Septernber 2021 iTrgncing fash At 31 August flows 2022 Cash at bank and in hand 67.390 8.071 75,461 Nct debt 67.390 8.071 75,461 Page 22