DocuSign Envelope ID: 243A4CD9-2C79-4C79-8131-CE651F1AE486
Charity registration number: 1149155
Whipperley Nursery & Children's Centre
Annual Report and Financial Statements for the Year Ended 31 December 2020
Holmes Peat Thorpe Chartered Accountants Basepoint Business Centre 110 Butterfield LUTON Beds LU2 8DL
DocuSign Envelope ID: 243A4CD9-2C79-4C79-8131-CE651F1AE486
Whipperley Nursery & Children's Centre
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 - 3 |
| Statement of Trustees' Responsibilities | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Summary Income and Expenditure Account | 7 |
| Balance Sheet | 8 - 9 |
| Notes to the Financial Statements | 10 - 14 |
| Detailed Statement of Financial Activities | 15 - 16 |
DocuSign Envelope ID: 243A4CD9-2C79-4C79-8131-CE651F1AE486
| Whipperley Nursery & Children's Centre | Whipperley Nursery & Children's Centre |
|---|---|
| Reference and Administrative Details | |
| Chief Executive Officer | Mrs K D French |
| Trustees | Mrs N Mcloughlin |
| Mr Anton Price | |
| Mrs Kim French | |
| Miss Shreen Ahmed | |
| Mrs Sandeep Shabir | |
| Mrs Vivienne Atkins | |
| Miss Laura Trotter | |
| Principal Office | Whipperley Ring |
| Farley Hill | |
| LUTON | |
| Beds | |
| LU1 5QY | |
| Charity Registration Number | 1149155 |
| Bankers | Lloyds Bank plc |
| George Street | |
| LUTON | |
| Beds | |
| Auditor | Holmes Peat Thorpe |
| Chartered Accountants | |
| Basepoint Business Centre | |
| 110 Butterfield | |
| LUTON | |
| Beds | |
| LU2 8DL |
Page 1
DocuSign Envelope ID: 243A4CD9-2C79-4C79-8131-CE651F1AE486
Whipperley Nursery & Children's Centre
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2020.
Objectives and activities
Objects and aims
The objects of the charity, as stated in its constitution, are to enhance the development and education of children primarily under statutory school age.
From this it is understood that a prime aim of the organisation is to enhance the development and education of children primarily under statutory school age and provide out of school care / wrap around care, emergency care, breakfast and out of school clubs.
Objectives, strategies and activities
Advice and information
To work in collaboration with outside agencies and local authority in providing parents with all the necessary information to embark upon training.
Support
Support children to excel in the nursery setting with a qualified teacher as part of the team.
Learning
To ensure all staff continue training and support them through maintaining high standards of learning. To encourage staff to take further available training which is overall beneficial to the nursery setting. Achievement For All Programme - Commencing January 2017. This programme will support our nursery to provide the very best opportunities to ensure all children fulfil their potential. Talking Takes Off – our Communicator is Farah Deeba – who works alongside all children/staff/parents
Resources
To continue replenishing resources inside / outside.
Staffing
To overstaff the nursery with 1/2 persons to allow for maternity cover and staff absences rather than using agency staff.
Leadership and management
Consolidate roles of board member. To carry out policy reviews and strategic reviews, and to increase funding from other sources
Public benefit
The charity provides a public benefit to the community by: 1) Offering appropriate play, education and care facilities, family learning and extended hours groups, together with the right of parents to take responsibility for and to become involved in the activities of such groups, ensuring that such groups offer opportunities for all children whatever their race, culture, religion, means or ability, 2) Encouraging the study of the needs of such children and their families and promoting public interest in and recognition of such needs in the local area, 3) Instigating and adhering to and furthering the aims and objectives of the Pre-School Learning Alliance.
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 2
DocuSign Envelope ID: 243A4CD9-2C79-4C79-8131-CE651F1AE486
Whipperley Nursery & Children's Centre
Trustees' Report
Financial review
Policy on reserves
We are endeavouring to build up two reserve bank accounts to enable us to pay three months expenses and three months of redundancy to our staff.
Principal funding sources
Grant funding from Nursery Education fund has been used in funding salaries and wages, and providing resources in connection with the principal objective of the charity.
. Structure, governance and management
Nature of governing document
The charity is governed by the constitution it adopted on registration on 27 April 2012.
Financial instruments
Objectives and policies
The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
Cash flow risk
The charity’s activities expose it primarily to the financial risks of changes in interest rates. Interest bearing assets are held at variable rate.
Credit risk
The charity’s principal financial assets are bank balances and cash, and other receivables. The charity’s credit risk is primarily attributable to its other receivables.
The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
2/10/2022
The annual report was approved by the trustees of the charity on ………………………….and signed on its behalf by:
......................................... Mrs N Mcloughlin Trustee
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DocuSign Envelope ID: 243A4CD9-2C79-4C79-8131-CE651F1AE486
Whipperley Nursery & Children's Centre
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
2/10/2022
Approved by the trustees of the charity on .................................................. and signed on its behalf by:
......................................... Mrs N Mcloughlin
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DocuSign Envelope ID: 243A4CD9-2C79-4C79-8131-CE651F1AE486
Whipperley Nursery & Children's Centre
Independent Examiner's Report to the trustees of Whipperley Nursery & Children's Centre
I report on the accounts of the charity for the year ended 31 December 2020 which are set out on pages 6 to 14.
Respective responsibilities of trustees and examiner
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants England & Wales. It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 130 of the Charities Act 2011; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Javaria Sarmad FCA Holmes Peat Thorpe Chartered Accountants Basepoint Business Centre 110 Butterfield LUTON Beds LU2 8DL
Date: ... 2/10/2022
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DocuSign Envelope ID: 243A4CD9-2C79-4C79-8131-CE651F1AE486 Whipperley Nursery & Children's Centre Statement of Financial Activities
for the year ended 31 December 2020
| Notes Income and endowments from: Donations and legacies 3 Other Income 4 Total Expenditure on: Charitable activities 5 Total Net gains on investments Net (expenditure)/income 6 Transfers between funds Net (expenditure)/income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2020 £ - 75,121 |
Restricted funds 2020 £ 291,087 - |
Total funds 2020 £ 291,087 75,121 |
Total funds 2019 £ 312,274 143,582 |
|---|---|---|---|---|
| 75,121 108,799 |
291,087 288,938 |
366,208 397,737 |
455,856 430,221 |
|
| 108,799 - |
288,938 - |
397,737 - |
430,221 - |
|
| (33,678) - |
2,149 - |
(31,529) - |
25,635 - |
|
| (33,678) - |
2,149 - |
(31,529) - |
25,635 - |
|
| (33,678) 143,413 |
2,149 64,027 |
(31,529) 207,440 |
25,635 181,805 |
|
| 109,735 | 66,176 | 175,911 | 207,440 |
Page 3
Page 6
DocuSign Envelope ID: 243A4CD9-2C79-4C79-8131-CE651F1AE486 Whipperley Nursery & Children's Centre Summary Income and Expenditure Account
for the year ended 31 December 2020
| Income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net (expenditure)/income before tax for the year Net (expenditure )/income for the year |
2020 £ 366,208 366,208 395,931 1,806 397,737 (31,529) (31,529) |
2019 £ 455,856 |
|---|---|---|
| 455,856 | ||
| 427,953 2,268 |
||
| 430,221 | ||
| 25,635 | ||
| 25,635 |
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DocuSign Envelope ID: 243A4CD9-2C79-4C79-8131-CE651F1AE486 Whipperley Nursery & Children's Centre Balance Sheet
at 31 December 2020
| Notes 2020 £ Fixed assets Tangible assets 8 10,233 10,233 Current assets Debtors 9 46,027 Cash at bank and in hand 124,191 170,218 Creditors:Amount falling due within one year 10 (4,540) Net current assets 165,678 Total assets less current liabilities 175,911 Net assets excluding pension asset or liability 175,911 Total net assets 175,911 The funds of the charity Restricted funds 11 Restricted income funds 66,176 66,176 Unrestricted funds 11 Designated funds 109,735 109,735 Reserves 11 Total funds 175,911 |
2019 £ 12,039 |
|---|---|
| 12,039 40,536 159,360 |
|
| 199,896 (4,495) |
|
| 195,401 207,440 |
|
| 207,440 | |
| 207,440 | |
| 64,027 | |
| 64,027 143,413 |
|
| 143,413 | |
| Reserves 11 |
|
| Total funds | |
| 207,440 |
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DocuSign Envelope ID: 243A4CD9-2C79-4C79-8131-CE651F1AE486
Whipperley Nursery & Children's Centre
Balance Sheet
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 December 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 11 February 2022 2/10/2022
And signed on its behalf by:
N. Mcloughlin
Trustee
11 February 2022
Page 6
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DocuSign Envelope ID: 243A4CD9-2C79-4C79-8131-CE651F1AE486
Whipperley Nursery & Children's Centre
Notes to the Financial Statements for the Year Ended 31 December 2020
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2016) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Whipperley Nursery & Children's Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Transition to FRS 102
In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 a restatement of comparative items was required. No restatements are required as a result of the transition to FRS 102.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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DocuSign Envelope ID: 243A4CD9-2C79-4C79-8131-CE651F1AE486
Whipperley Nursery & Children's Centre
Notes to the Financial Statements for the Year Ended 31 December 2020
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £100.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
| value, over their expected useful economic life as follows: | |
|---|---|
| Asset class | Depreciation method and rate |
| Computer Equipment | 33% Straight line |
| Furniture, Fixtures and Fittings | 15% Reducing Balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees’ discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
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DocuSign Envelope ID: 243A4CD9-2C79-4C79-8131-CE651F1AE486
Whipperley Nursery & Children's Centre
Notes to the Accounts
3 Income from donations and legacies
| 4 Other income 5 Other expenditure Unrestricted £ 33,099 Employee costs 7,814 Motor and travel costs - Premises costs 32,703 Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets 1,806 General administrative costs 15,387 Legal and professional costs 17,990 108,799 6 Net (expenditure)/income before transfers This is stated after charging: Depreciation of owned fixed assets 7 Staff costs Salaries and wages No employee received emoluments in excess of £60,000. |
Restricted £ 291,087 291,087 Unrestricted £ 75,121 75,121 |
Total 2020 £ 291,087 291,087 Total 2020 £ 75,121 75,121 |
Total 2019 £ 312,274 |
|---|---|---|---|
| 312,274 | |||
| Total 2019 £ 143,582 |
|||
| 143,582 | |||
| Restricted £ - 288,938 - - - - - 288,938 2020 £ 1,806 288,938 288,938 |
Total 2020 £ 33,099 296,752 - 32,703 1,806 15,387 17,990 397,737 |
Total 2019 £ 39,837 325,740 2,483 38,217 2,268 13,734 7,942 |
|
| 430,221 | |||
| 2019 £ 2,268 317,153 |
|||
| 317,153 | |||
Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year
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DocuSign Envelope ID: 243A4CD9-2C79-4C79-8131-CE651F1AE486 Whipperley Nursery & Children's Centre
Notes to the Accounts
8 Tangible fixed assets
| Cost or revaluation At 1 January 2020 At 31 December 2020 Depreciation and impairment At 1 January 2020 Depreciation charge for the year At 31 December 2020 Net book values At 31 December 2020 At 31 December 2019 9 Debtors Trade debtors Other debtors 10 Creditors: amounts falling due within one year Trade creditors |
2020 £ 25,094 20,933 46,027 2020 £ 4,540 4,540 |
£ Fixture & Equipment 34,770 34,770 22,731 1,806 24,537 10,233 12,039 |
£ Total 34,770 |
|---|---|---|---|
| 34,770 | |||
| 22,731 1,806 |
|||
| 24,537 | |||
| 10,233 | |||
| 12,039 | |||
| 2019 £ 26,858 13,678 |
|||
| 40,536 | |||
| 2019 £ 4,495 |
|||
| 4,495 |
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DocuSign Envelope ID: 243A4CD9-2C79-4C79-8131-CE651F1AE486
Whipperley Nursery & Children's Centre
Notes to the Accounts
11 Movement in funds
| Restricted funds: Restricted income funds: Total Unrestricted funds: Designated funds: Total Revaluation Reserves: Total funds 12 Analysis of net assets between funds Fixed assets Net current assets 13 Reconciliation of net debt Cash and cash equivalents Net debt |
At 1 January 2020 64,027 64,027 143,413 143,413 207,440 |
Incoming resources (including other gains/losses) £ 291,087 291,087 75,121 75,121 366,208 Unrestricted funds £ 10,233 99,502 109,735 At 1 January 2020 £ |
Resources expended £ (288,938) (288,938) (108,799) (108,799) (397,737) Restricted funds £ - 66,176 66,176 Cash flows £ |
At 31 December 2020 £ 66,176 66,176 109,735 109,735 175,911 Total £ 10,233 165,678 175,911 At 31 December 2020 £ 124,191 |
|---|---|---|---|---|
| 159,360 | (35,169) | |||
| 159,360 | (35,169) | 124,191 | ||
| 159,360 | (35,169) | 124,191 |
14 Related party disclosures
Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
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