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
Page 3
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
Page 4
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
Page 5
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|
Page 4
Page 7
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|
Page 5
Page 8
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
Page 9
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.
Page 9
Page 10
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.
Page 9
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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
Page 10
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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|
Page 11
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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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