Docusign Envelope ID: 7BE0E078-E78E-4193-96E5-E26CF0A7B5D0
Charity registration number: 1149155
Whipperley Nursery
Annual Report and Financial Statements for the Year Ended 31 December 2023
Docusign Envelope ID: 7BE0E078-E78E-4193-96E5-E26CF0A7B5D0
Whipperley Nursery
Contents (continued)
| Contents (continued) | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2 to 3 |
| Statement of Trustees' Responsibilities | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 14 |
Docusign Envelope ID: 7BE0E078-E78E-4193-96E5-E26CF0A7B5D0
Whipperley Nursery
Reference and Administrative Details
Chief Executive Officer
Mrs S Shabhir
Trustees
Mr Anton Price Mrs Kim French Mrs Sandeep Shabir Mrs Laura Price Miss Aneesa Amin Miss Shreen Jama Mr Ashish Saha
Charity Registration Number
1149155
Principal Office
Whipperley Ring Farley Hill LUTON Beds LU1 5QY Auditor
Holmes Peat Thorpe Basepoint Business Centre 110 Butterfield LUTON Beds LU2 8DL
Bankers
Lloyds Bank plc George Street LUTON Beds
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Docusign Envelope ID: 7BE0E078-E78E-4193-96E5-E26CF0A7B5D0
Whipperley Nursery
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2023.
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
We have worked closely with all outside agencies and Local authorities, to provide the best possible outcomes for all children in our care. We sign post parents to any advice they may need, and have an open door for support when needed. We have a very informative updated website www.whipperleynursery.co.uk along with excellent community support and links.
Support
Support children to excel in the nursery setting with a qualified teacher as part of the team.
Learning
We have a very knowledgeable Communication Lead that works with all staff on the Curriculum. We have been awarded ECO WARRIOR status. Family Food First is being re-introduced again where our staff, children and parents will work together on Healthy Eating. Children have access to a large outside area with planned activities with an integrated Sensory Garden. The Nursery is highly resourced to provide children with the best possible opportunities. Talking Takes is embedded with staff. All rooms have white interactive boards. Preschool has an ICT area. Tooth Brushing – children have the opportunity to brush their teeth. Excellent SEN Lead who communicates with all parents/outside agencies.
Resources
To continue replenishing resources inside / outside.
Staffing
Agencies are used on a last resort basis for staffing. Inhouse /other training is available to all staff. All new staff have a 6 month induction/pack/meetings/1 day Safeguarding training. Safeguarding is discussed at all meetings. Safeguarding is Priority – all staff are aware of the processes. Regular meetings take place. Currently 1 staff is returning to college for Level 6, 2 apprentices are studying for level 2, 3 staff are studying for level 3, staff are trained on signing to children, all staff are First Aid trained.
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.
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Docusign Envelope ID: 7BE0E078-E78E-4193-96E5-E26CF0A7B5D0
Whipperley Nursery
Trustees' Report (continued)
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.
The annual report was approved by the trustees of the charity on 9 September 2024 and signed on its behalf by:
......................................... Mrs Sandeep Shabir Trustee
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Docusign Envelope ID: 7BE0E078-E78E-4193-96E5-E26CF0A7B5D0
Whipperley Nursery
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;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 Charities (Accounts and Reports) Regulations 2008, 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 9 September 2024 and signed on its behalf by:
......................................... Mrs Sandeep Shabir Trustee
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Docusign Envelope ID: 7BE0E078-E78E-4193-96E5-E26CF0A7B5D0
Whipperley Nursery
Independent Examiner's Report to the trustees of Whipperley Nursery
I report to the trustees on my examination of the accounts of Whipperley Nursery for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity trustees of Whipperley Nursery you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Whipperley Nursery accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
Since Whipperley Nursery gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Chartered Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of Whipperley Nursery as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other 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.
...................................... Javaria Sarmad FCA Chartered Accountants
Basepoint Business Centre 110 Butterfield LUTON Beds LU2 8DL
Date: 9 September 2024
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Docusign Envelope ID: 7BE0E078-E78E-4193-96E5-E26CF0A7B5D0
Whipperley Nursery
Statement of Financial Activities for the Year Ended 31 December 2023
| Unrestricted Total |
|
|---|---|
| funds Restricted funds 2023 |
|
| Note | £ £ £ |
| Income and Endowments from: | |
| Charitable activities | - 265,043 265,043 |
| Other income | 215,210 - 215,210 |
| Total income | |
| 215,210 265,043 480,253 |
|
| Expenditure on: | |
| Charitable activities | (189,573) (269,047) (458,620) |
| Total expenditure | |
| (189,573) (269,047) (458,620) |
|
| Net(expenditure)/income | |
| 25,637 (4,004) 21,633 |
|
| Net movement in funds | |
| 25,637 (4,004) 21,633 |
|
| Reconciliation of funds | |
| Total funds brought forward | |
| 62,301 222,872 285,173 |
|
| Total funds carried forward 12 |
|
| 87,938 218,868 306,806 |
| Unrestricted Total |
|
|---|---|
| funds Restricted funds 2022 |
|
| Note | £ £ £ |
| Income and Endowments from: | |
| Charitable activities | - 343,077 343,077 |
| Other income | 147,641 - 147,641 |
| Total income | |
| 147,641 343,077 490,718 |
|
| Expenditure on: | |
| Charitable activities | (186,332) (280,736) (467,068) |
| Total expenditure | |
| (186,332) (280,736) (467,068) |
|
| Net(expenditure)/income | |
| (38,691) 62,341 23,650 |
|
| Net movement in funds | |
| (38,691) 62,341 23,650 |
|
| Reconciliation of funds | |
| Total funds brought forward | |
| 100,992 160,531 261,523 |
|
| Total funds carried forward 12 |
|
| 62,301 222,872 285,173 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 and 2023 is shown in note 12.
The notes on pages 8 to 14 form an integral part of these financial statements. Page 6
Docusign Envelope ID: 7BE0E078-E78E-4193-96E5-E26CF0A7B5D0
Whipperley Nursery
(Registration number: 1149155) Balance Sheet as at 31 December 2023
| 2023 2022 |
|
|---|---|
| Note | £ £ |
| Fixed assets | |
| Tangible assets 8 |
6,615 8,286 |
| Current assets | |
| Debtors 9 |
60,636 58,524 |
| Cash at bank and in hand 10 |
247,379 223,799 |
| 308,015 282,323 |
|
| Creditors: Amounts falling due within oneyear 11 |
|
| (7,824) (5,436) |
|
| Net currentassets | |
| 300,191 276,887 |
|
| Netassets | |
| 306,806 285,173 |
|
| Funds of the charity: | |
| Restricted income funds | |
| Restricted funds | 218,868 222,872 |
| Unrestricted income funds | |
| Unrestricted funds | 87,938 62,301 |
| Total funds 12 |
|
| 306,806 285,173 |
The financial statements on pages 6 to 14 were approved by the trustees, and authorised for issue on 9 September 2024 and signed on their behalf by:
......................................... Mrs Sandeep Shabir Trustee
The notes on pages 8 to 14 form an integral part of these financial statements.
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Docusign Envelope ID: 7BE0E078-E78E-4193-96E5-E26CF0A7B5D0
Whipperley Nursery
Notes to the Financial Statements for the Year Ended 31 December 2023
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Whipperley Nursery meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
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
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.
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.
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Docusign Envelope ID: 7BE0E078-E78E-4193-96E5-E26CF0A7B5D0
Whipperley Nursery
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
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:
| Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off residual value, over their expected useful economic life as follows: |
the cost or valuation, less any estimated |
|---|---|
| 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: 7BE0E078-E78E-4193-96E5-E26CF0A7B5D0
Whipperley Nursery
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
2 Income from charitable activities
| 2 Income from charitable activities |
||
|---|---|---|
| Restricted | Total | |
| funds | funds | |
| £ | £ | |
| NurseryProvision | 265,043 | 265,043 |
| Total for 2023 | 265,043 | 265,043 |
| Total for 2022 | 343,077 | 343,077 |
3 Other income
| 3 Other income |
||
|---|---|---|
| Unrestricted | ||
| funds | Total | |
| General | funds | |
| £ | £ | |
| Fees and supplies | 215,210 | 215,210 |
| Total for 2023 | 215,210 | 215,210 |
| Total for 2022 | 147,641 | 147,641 |
4 Expenditure on charitable activities
| 4 Expenditure on charitable activities |
|
|---|---|
| Unrestricted | |
| funds Restricted Total |
|
| General funds funds |
|
| Note | £ £ £ |
| Nursery Provision | 35,869 - 35,869 |
| Staff costs | 74,217 269,047 343,264 |
| Allocated support costs | 79,487 - 79,487 |
| Total for 2023 | |
| 189,573 269,047 458,620 |
|
| Total for 2022 | |
| 186,332 280,736 467,068 |
5 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: 7BE0E078-E78E-4193-96E5-E26CF0A7B5D0
Whipperley Nursery
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
| 6 Staff costs |
|---|
| The aggregate payroll costs were as follows: |
| The aggregate payroll costs were as follows: | |
|---|---|
| 2023 2022 |
|
| £ £ |
|
| Staff costs during the year were: | |
| Wages and salaries | 343,264 347,796 |
No employee received emoluments of more than £60,000 during the year
Page 11
Docusign Envelope ID: 7BE0E078-E78E-4193-96E5-E26CF0A7B5D0
Whipperley Nursery
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
7 Taxation
The charity is a registered charity and is therefore exempt from taxation.
8 Tangible fixed assets
| 8 Tangible fixed assets |
|
|---|---|
| Furniture and equipment Total |
|
£ £ |
|
| Cost | |
| At 1 January2023 | 36,388 36,388 |
| At 31 December 2023 | 36,388 36,388 |
| Depreciation | |
| At 1 January 2023 | 28,102 28,102 |
| Charge for theyear | 1,671 1,671 |
| At 31 December 2023 | 29,773 29,773 |
| Net book value | |
| At 31 December 2023 | 6,615 6,615 |
| At 31 December 2022 | 8,286 8,226 |
| 9 Debtors |
|
| 2023 2022 |
|
| £ £ |
|
| Trade debtors | 35,005 35,113 |
| Other debtors | 25,631 23,411 |
| 60,636 58,524 |
|
| 10 Cash and cash equivalents |
|
| 2023 2022 |
|
| £ £ |
|
| Cash on hand | 802 807 |
| Cash at bank | 246,577 222,992 |
| 247,379 223,799 |
|
| 11 Creditors: amounts falling due within one year |
|
| 2023 2022 |
|
| £ £ |
|
| Trade creditors | 7,824 5,436 |
Page 12
Docusign Envelope ID: 7BE0E078-E78E-4193-96E5-E26CF0A7B5D0
Whipperley Nursery
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
12 Funds
| 12 Funds |
12 Funds |
|---|---|
| Balance at 1 January 2023 Incoming resources Resources expended Balance at 31 December 2023 |
|
£ £ £ £ |
|
| Unrestricted funds | |
| General 62,301 215,210 (189,573) 87,938 |
|
| Restricted funds 222,872 265,043 (269,047) 218,868 |
|
| Total funds 285,173 480,253 (458,620) 306,806 |
|
| Balance at 1 January 2022 Incoming resources Resources expended Balance at 31 December 2022 |
|
£ £ £ £ |
|
| Unrestricted funds | |
| General 100,992 147,641 (186,332) 62,301 |
|
| Restricted funds 160,531 343,077 (280,736) 222,872 |
|
| Total funds 261,523 490,718 (467,068) 285,173 |
|
| 13 Analysis of net assets between funds |
|
| Unrestricted Total funds at 31 |
|
| funds Restricted December |
|
| General funds 2023 |
|
| £ £ £ |
|
| Tangible fixed assets | 6,615 - 6,615 |
| Current assets | 41,848 266,167 308,015 |
| Current liabilities | (7,824) - (7,824) |
| Total net assets | |
| 40,639 266,167 306,806 |
|
| Unrestricted Total funds at 31 |
|
| funds Restricted December |
|
| General funds 2022 |
|
| £ £ £ |
|
| Tangible fixed assets | 8,286 - 8,286 |
| Current assets | 39,741 242,582 282,323 |
| Current liabilities | (5,436) - (5,436) |
| Total net assets | |
| 42,591 242,582 285,173 |
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Docusign Envelope ID: 7BE0E078-E78E-4193-96E5-E26CF0A7B5D0
Whipperley Nursery
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
| 14 Analysis of net funds |
|
|---|---|
| At 1 January Financing cash At 31 December |
|
| 2023 flows 2023 |
|
| £ £ £ |
|
| Cash at bank and in hand | 223,799 23,580 247,379 |
| Net debt | |
| 223,799 23,580 247,379 |
|
| At 1 January Financing cash At 31 December |
|
| 2022 flows 2022 |
|
| £ £ £ |
|
| Cash at bank and in hand | 200,298 23,501 223,799 |
| Net debt | |
| 200,298 23,501 223,799 |
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