Charity re9i$tratlon number 1150223 Company registratlon numbèr 04586947 (England and W31è$1 GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED LEGALAND ADMINISTRATIVE INFORMATION Trustees S Ford L Pearse Q Style3 Dr R Rahim M Arif SFry Reverend E Russell Mcox -appointed 19 January 2023 Secretary Mrs L Smith Charity number 1 IS0223 Company numbor 04586947 Principal addre5$ 15 Grendon Road Klngs Heath Birmingham B14 4RB Regist•red offle 15 Grendon Road Kings He8lh Birmingham B144RB Audltor M T Manley & Co. Limited 696 Yardley Wood Road Billesley Birtllingham B130HY
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED CONTENTS Pagg Trustees, report st31emenl of Iruslees, re8pon5ibililies Independent auditor's report Slalement of financial a¢tlvilies B818nce sheet 10 statement of cash flows Notes to the financial slalamenls 12.19
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 30 NOVEMBER 2023 The Iruslees who are also directors of the Charitable cornpany present their report and accounts lor the year ended 30 November 2023. The accoLJn15 have been prepared in ardance with the accounting polici95 Sgt out in note 2 to th8 accounts and comply with the Charllable company's Articles ol As50cialion, Ihe Companies Act 2006 and the Slalemenl of Re¢ommended Practice, "Accounting and Reporting by Ch3rilies" issued in March 2005. Oblectlves and activities The Charitable company's objects as set out more fully in the Charitable company's #rtldes ol association arè.. 1. To advance the education. developrnenl and well-being of children under the age of 13 years 2. To promot8 good quality childcare and lo develop support services for paren15 and lamllles 3. By involvement in the provision of the above services, to increase the education, health and wellbelng ol parents and families. In pursLtance of these objects, the principle activity ol tha Charitable cornpany is the running of childrens, nurseries in the Billesley area of Birmingham. The Charitable campany has in addilion entered into a contract lo run 8 children's centre across the Selly Oak di51rid of Birmingham to promote early years health and wellbeing serwces. The charity provides significant public benefit in the lollowing areas.. advancement of early education prevention of child poverty advancement of ¢hild and parent health promotion ol social hamiony relief ol social disadvantage The trustees have paid due regard lo public benefit guidancs Issued by the Charity Commission in deciding what activities the Charitable comp3ny should undertak&. The Charitable company'5 policy is to consult and discuss WI employees. through uniony, staff coundls and 91 meetings, rnatlers likely lo affect employees, interests. InformalSon on matter$ of concern to employees Is given through Information bullelins and reports whtch seek to achiev8 a cornrnon awarene$8 on tha part of all employees of the financial and economic laclors affecting the group's performance. Achievements and performance GBNFC has continued lo keep up the high standard ol care and education with all ils Early Years setlTrigs and Ils Children's Centre contract always employing our service users feedbath as a key focus for how we deliver our eiC9S lo the wider communily. As well as continuing to hold the Qua1tiy Mark Award across the Early Years settings we have also achièved the Curiosity Approach {an erivironmenl award to support a natural. authentic us8 of r8soureesl, as wall a5 level 3 in Start Well and advanced awaid la healthy lifeslyl6 awaidl. We also hold the Sun Safely Award for providing the best guidance and pradice for sun s8fety. and the Millie's Mark for Paediatric First Aid. In order to further our early years WOTk and objectives, and in an effort lo ensure the continuance of children services in our area of Birmingham, the Charttable ¢ompany has subcontracled to Tun a children's cènlre, known as GBNFC Chlldr$n's Centi&. We continue to develop our partner3hip with other 2gencie5 and provisions across the local areas. lo enhance the opportunllies for loarnlng.
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED TRUSTEES, REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2023 In spile of the do¢ision not lo raise nursery prices In vlaw tsl the prevailing wsl of living crisis, nursery incom8 reduced in the year to £1,324,700 compared to £1,407,173 last year. At the samé time, nursery expendllure increased lo £1,556,985 compared to £1,432,771 last year. This resu5ts in a defi¢it on nursery of £232,285 compared lo a deficit of £25,598 last year. Unrèslri¢led fvnds of £318,798 are Caled forward. The Children's Centr6 deflcil for the yaar was £74,439 {2022 surplus of £72,BW). Rèstricled funds of £810,878 ar8 carried loNard. 11 is charity policy lo obtain sufficient funding lo successfully implement Ils core activities. Flnanelal revlèw Plans and budgets to fa¢illlale the continued delivery of services at the rJJrrent level have been agreed, and action lak8n to signifieanlly reduce the deficit experienced this year. These plans and budgets will be carefully monitored thè light of ongoing uncertain economic and funding conditions. 1115 the policy of the Charitablè company that unrestricted funds which have not been desigr)aled for a specific use should be maintainèd al 8 level equivaltsnl lo bebNeen Ihiee and Six months, expenditure. The Iruslee$ consider that reserv&s al this lovel will ensure that, in the event of a significant drop in funding, they wll be able lo ¢onlinue the Charilable company's Cufrenl activities while consideration is given to ways in which additional funds may be iaised. Thè trustees are satisfied Mlh unreslTiCted reserves of £318,798 and reslricled reserves of £610,877 al 30 November 2023. Th& Iruslees are responsible for the rnanagemenl of rlsks faced by the charlty. The principle risks are in areas of safeguarding, Child Protection and the need lo ensur6 the continued funding of the actiw116s. Risks are identified, assessed and ¢onlrols established Ihroughoul the year. Th6 key controls empkjyed are-. formal agendas for Iruslee and committee meetings dètailed terms of reference for su&committees $lri¢t adherence lo Government Safeguarding and ChSld Protection legislolion comprehensive strategic planriing, budgeting and management accounllng established organi5alional structure and lines ol reporting formal written policies clear aulhorisalion and approval levels. structure, governanco and management The Charitab18 ¢ompany is a company Ilmited by guarantee. It W89 sel up in 2004, and obtained charitable status on 18 Decemkr, 2012. The trustees. who are also th? director5 for the purpose of company law, and who seNed (Ivring the yearwerg.. S Ford L Pearse O Styles Dr R Rahimi MArif SFry Reverend E Russell Mcox appointed 19 January 2023
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED TRUSTEES, REPORT ICONTINUED){INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2023 Trustees are recruited from the local parent comrnunity and from other interested local residents. AIS trustees are iequired lo obtain DBS certlfi¢alion and are required lo familiarise themselves with the ch8rities policies and piaclices. Knowledge and experience ol the truslee's role is obtained by attendance at regular trustees and sub-committee meetings. Truslee meetings are allended by members ol the senior management team. who submit Ihelr réports on the conduct, a¢hievements, finances and ongoing developm$nt ol the charity. The senior management team in turn comrTruiiicate ITuslees dÈeisions to the staff of the nursery and have responsibility for day lo day management. None ol the Irust6è5 has any t>eTieficial interest in the company. All of the Iruslees srè members of the company and guarantee lo contribute £1 In the event of a winding up. Audltor In accordance with tho company's articles, a resolution proposing that M T Manley & Co. Limited be Tegppoinled as auditor of the company will be pul 518 General Meeting. S Ford Trustee Dated.. 23 Augu512024
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 30 NOVEIVIBER 2023 The Iruslees, who are also the direciors of Grendon & Bilbsley Nursery and Family Centra Llmlted for the purpose of company law. are responsible for preparing the Trustees, Report and the financial statements in accordancè with applicable law and United Kingdom Ac¢ounling Standards (United Kingdom Generally Accepted Accounting Praclicel. Company Law requiTes tha trustees lo prepare f5nancial slalemenls for each financi¥l yèar which give a true and falr view of the slaté of affairs of the Charllable company and ol the in¢oming resour8 and appll¢ation of resources. Induding the income and f)xpendllure. of the charltable company for that ygar. In preparing these financial slatem8nls, th& Iruslees are required to-. select suitable accounting poli¢les and then appty them consistently., - obseNe the methods and pr*nciple5 in the Charities SORP., make judgements and estimates that ara reasonable and pwdent., slate whether applicable UK Accounting S13nd3rds have been followed, subject lo any material dèpartures disclosed and explained in the financial 51alemenls,' and prepare th8 financlal statements ors the going concern basis unless il is inappropriate lo presume that the Charitablé cornp3ny will Continue in tsperalion. The trustees are responsible for kèeping adequate accounting records that discloss with Tea50nable 8¢curacy al any Ilme the financial ptssTlion of the Charitable company and enable them lo ensure that the finanrial slat8menls Gomply with the Companles Act 21x16. They are also responsible for safeguarding the a5se15 of the Charitable cotnpany and hence for laklng reasonable steps for the prevention and dettrclion of fraud and other irregulartlies.
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED Opinion We have audited the financial slalemenls of Grendon & 8illesley Nursery and Family Cenlre Limited {the 'Charilable company'l fof the year ended 30 Novernber 2023 whlch comprise the statement of financlal aclivi1Ses, the balancè she81. the slalÈmenl ol cash flows and notes lo the financial slalemenls, nCludIng signillcant accounting policies. The financial reporting framework that has been applied in Iheir preparation is applicable law and Unlted Kingdom Accounting Standards, Including Financial Reportlng Standard 102 The Fin2ncial Repothng Standartl applicabl8 In the UKand RgpubliG of Ireland (United Kingdom Gener8lly Accepted Accountill9 Praclicel. In our oplnlon, the financial statements.. give a true and lali vlgw of the slate of the charitable comp8nls affalrs as al 30 November 2023 and ol its incoming resources and application of resources, for the year then ended", have been properly prepared in accordance wifh Uniled Kingdom Generally Accepted Aceounling Practi., and have been prepared in accordan with the requirements of thè Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our 185ponsibililies under those standards are further described in the Audilorfs responslbilili6s for the audit of th& financi31 slatemenls section ol our report. We are independent ol the Charitable company in accordance wrth the &lhi¢al requirements that are relevant to our audit of the financlal slalemenls in the UK. Including the FRC'S Ethical StandÈrd. and we have fulfilled our olher elhical responsibilities in accordan wilh these requirements. We believe that the audll avldence we have oblalned is sufficlent and appropriat8 lo provide a basis for our opinion. Conclusion3 relating to golng concern In auditing the finanaal slalemenls. we have concluded that thè Irusteos, use of thè going conrn basis of accounting in the preparation ol the financial statements is appropriate. Based on the work we have performgd, we have not idenlifisd any material un¢Értainlies relating lo events or conditions th31, indtvidually or collectively, may cast significant doubt on the Charitable company's ability lo Continue a5 a going ¢on¢ern for a period of at least twelve months from when the financial 51alemenls are aulhofised for issue. Our responsibilitie5 and the responsibilities of Ihe Irustaes with respect lo golng concern are described in the relevanl secllons of thi5 report. othèr Informatlon The other information cornprises the information Induded in the annual report other than the financial statements and our audilorfs report Ihèrètsn. The Iruslees alè responsible for the olher information contained within the annual report. Our opinion on the financial statements doas not cover thè olher Information and we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so, consider whether the other information 15 malerially inconsistent with th8 financial statemen1$ OF our knowledg& obtained in the course ol the audit. 01 otherwise appears lo be materially mis51aled. 11 we idenlify 5u¢h material inconslslenryes or apparent material rni55lalements, we are required to determine whelher this gives rise lo a material 15StateMent in the financial slalemenls themselves. 11, based on the work we have performed, we Gonclude that there is a material misslalemenl of Ihis olh8r information, we 8re required lo repori that fact. We have nothing to report in Ihls regard.
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED Matters on whlch wo arg r•qulr9d to report by exception We have nothing to report in respect ol the following matters in relallon lo which the Charities (Accounts and Reprjrts) Regulations 2008 require us lo ieport lo you if, In our opinion.. the Information given In the financial slalements is inconsislenl in any material respect with the Iruslees, report", or suffiaenl accounting records have not been kept,. or the financlal slaletnen15 are not In agreement with the accounting records., or we have not received all Ihe information and expl8nalions we require for our audit. Responsibilities of trustees As explain more lulty in the stal&menl Irust6es' respons(bililies, the Iruste6s. who are also the diréctors of th8 Charitable company for the purpose ol company law, arè responsible for the preparation of the financial 518lemenls and for b8ing sallsfied that they give a true and fair viow, and for such inlèmal control a5 the Iruslèes deterrnlne is necessary lo enable the PTepaialion of financial slalements that are free from material misstaternenl, wh&lher due lo fraud or error. In preparing the financial statements, the Irustè8s are responsible for assessSng Ihe Chaiitable company's ability to continue as a ooing concern, disclosing, as applicable. matters related lo going concem and using thè going concern basis of accounting unless the Iruslees ellher intend to liquidate the charitablè company or lo cease oper81ion$. Dr have no reallslic alternalive but to do so. Auditorfs responsibilitie$ forthe audlt of the financlal statements We have been appointed 85 auditor tjnder section 144 01 the Charities Act 2071 and report In accordance wlth the Aol and relevant regulations made or h8wng effect Iher8under. Our obje¢liv¢s are lo obtain reasonable assurance about whèther the financial slalemenls as a whole are free from rnalerlal misslalemenl, whether due lo fraud or error. and lo issue an auditor'5 report that includes our opinion. Reasonable assuran is a high level of assurance bul is not a 9iJ8rantee that an audit condu¢tèd in accordance with ISAS IUIQ will always dèlect a material misstalemenl when il exists. Misslalemenls can arise from fraud or error and are considered material if, Indiwdually or in the aggreoale. they could reasonably be èxpected lo inffluence the economic deasions of users taken on the basis of thése financAal slalemenls.
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GRENDON & 81LLESLEY NURSERY AND FAMILY CENTRE LIMITED Iiregu13ri1ies. including Iraud, are iTrslance5 01 non-compliance with laws and regulations. We design procedures in line with our responsibilitie5. Outlined above, lo delect rnaleiial missl3lemenls in respecl of irregul8rilies, including fraud. The extent lo which otsr procedures are capable of delecling irr&gulzritiès, induding fraud. is detailed below. We design our procedures so as to obtain sufficient appropriate audit evidence that the financial statements are not Tllaterially misslaled due to non-complian with laws and regulalions or due to fraud or eiror. We aTe not responsible for preventing non-compliance and cannot be expected to delect non-compllance with all laws and regulations- this responsibility lies with rnanagemenl wllh the overslght of the Directors. Based on our understanding of the company and industry and discussions with managèment we identified financial reporting standards and CoFnpanies Act 2006 as having a dire¢l eff&cl on the amounts and disclosures in thé financial statements. As part of the engagement learn discussion about how and where the charitable company's financlal slalèmenls may be materially mi581aled due lo fraud, we did not identify any arèas wilh an increased risk ol fraud. Our audit procedure5 included.. + ertquiry ol management about thè charitable company's policies, procedures and related controls Tegarding compliance wilh laws and regulations and il there are any known inslanees of non-complSanoe', examining supporting documenls for all rnal8rial balances, transactions and disdosures.. review of the Board of Trustees minutes., enquiry of management and review and inspocllon of relevant correspondgllC8 Wlth any legal firms," evaluation of the selec* and application ol accounting policies relaled to subjèctive measurements and complex transactions., analylical procedures to idenlfy any unusual or unexpeclgcl relalion5hips., testing the appropiiaten65s of journal entries recorded in the general 18dger and other adjustmènts rnade In thè preparation of the financial stalemenls,. review of 8c¢ounling eslimales lor biases., Owing lo the Inherènl limitations of an 8Lidil, there is an unavoidable risk that some rnalerial mlsslalemenls of the financial slalement5 may not be delecled, even though the audit is properly planned and pèrformed in accoidance with the ISAS IUKI. The potential effects of inherenl limllalions are particularly significaDI in the case of rnisslaleinenl iesulling from fraud because fraud tvay involve sophislic8led and carefully organized schemes designed to conceal it, Includlng deliberate lailyre lo record transactions, oollvsion or intentional mi$represenlations being madè to US. A further description of our responsibilities is available on the Financial Reporting Ctsuncil's website 8t.. https'.11 wV.1fC.0Tg.UkI8{Idl1Qr5reSPQnSIbIIilies. Thi5 description forms part of our auditorfs report.
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED Thls report is made solety lo the company's members, as a body, in accordance with section 391 of thè Companies Act 2014. Our audit work has been undertaken so that we mlghl stale lo the company's membe[8 those mattels wg. are required lo slate lo them in an auditorf5 report and for no other purpose. To the lull&sl extent permitted by law. we do not auepl or assume responsibility to anyone othèr than the company and Ihe company's members as a body, for our audlt work, for Ihls report, or for the opinlon8 we have formed. Graham Collins (Senior StatuloryAuditorl for and on bèhalf of M T Manlgy & Co Limited (statutory Auditofl 23Augusl 2024 696 Yardley Wood Road iimingharn B130HY M T Manley & Co. Limited is eligible tsr appointment as auditor of the Charitable company by vlrtue of ils eligibility for 8ppoinlmènl 8$ auditor of 8 company undÉr section 1212 01 the Companies Act 2006.
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2023 Unrfy$trlcted Restricted funds lunds 2023 2023 Total Unr&strl¢t•d Restrlcted funds funds 2022 2022 Total 2023 2022 Note$ Income from: Charitable a¢livilies Nursery fees and granl5 1,250,600 726,214 1,976,814 1,332,062 780,984 2.113,046 Inveslmanls 74,700 4,644 78,744 75,111 88 75,199 Total Income 1.324,700 730,858 2,055,558 1.407,173 781,072 2,188,245 Expenditure on: Charitable activities 1.5S6.985 805,298 2.362.283 1,432,771 708.183 2,140,954 Total expendlture 1,556,985 805,298 2,362.283 1,432,771 708,183 2,140,954 Net Incomellexpendltur81 and movement in funds {232,2851 174.440) 1306,725} 125,598) 72,889 47,291 Reconciliation of lunds.. Fund balances al 1 Dember 2022 551,083 885,317 1,436,400 576,681 812,428 1,389.109 Fund balances at 31J November 2023 318,798 e10,877 1,129,675 551.083 885,317 1,436,400 The statement ol finalleial activities include5 all gains 8nd losses recogni5ed in the yea¥. All income and expenditurè derive from continulng activities.
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED BALANCE SHEET AS AT 30 NOVEMBER 2023 2023 2022 Note$ Fixod asset5 Tangible assets 9,776 S,096 Current assets Deblors CasTI at bank and in hand 12 8,855 1,149,658 161,046 1,296.904 1.158.513 1.457,950 CredltoTs'. amounts falling dug wlthln ong ygar 13 138,6141 (26,6461 Net currant asset$ 1,119,899 1,431,304 Total assets l•ss currènt liabilitles 1.129,675 1,436.400 Ngt assets excluding penslon liability 1,129.S75 1.436,400 The funds of the Charltab19 Company Restricted income funds Unre51ricted lund5 16 810,877 318,798 885,317 551,083 1,129,675 1,436,400 The company is enlilled lo the exemption from the audit requirement contained in section 477 01 thè Companies Act 2006. for the year ended 30 November 2023, although an audll has been carried out under see¢lon 144 Of the Charities Act 2011. The Iruslees, arè responsible for ensuring Ihal the charlly keeps 8¢counling records which cornply with section 386 of the Act and for preparing accounts which give a true and fair vlew of the 518le of affairs of the company as al the end (>f Ihe financial year and ol its inwming resources and application of resource5, including Sts income and expenditure, lor the financial year in accordance wilh the requirements of sections 394 and 395 and which olhenvise comply wilh the requiiemenls of the Companies Act 2006 relating lo accounts, so far as applicable to the company. These financial *atemen15 have been prepared in 3ccordance vlith the prowsion5 appllcable to companles subject lo the small companies regime. The financSal stslemenls were 8pproved by Ihe trustees on 23 August 2024 S Ford Trusteè Company Tegistration number 04586947 (England and Wales) 10.
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 NOVEMBER 2023 2023 2022 Notes Cash flows from operatlng a¢tivilie5 Cash absorbed by operats'ons 20 (218,0531 177.5591 Investlng activltiès Purchase of tangible fixed assets Investment income received 17,9381 78,745 1843> 75,200 Nat cash gèner8t*d from investing activltie5 70,807 74,357 Net cash used In financlng actlvities Net decrease In cash and cash equlvalents (147,2461 13,2021 Cash and cash equivalents at beginning ol year 1,296,904 1,300,106 Cash and cosh equivalgnts at end of year 1,149,658 1,296,904
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023 Critical aG¢ountiny esllmatès and judgements In the application of the Charitable company's accounting policles. the Iruslees ale required lo make judgem*nts. eslimales and assumptions about the carrying amount of assets and liabilities Ihgl are not readily apparent from olher sources. The eslimales and associated assumptions are based on historical expèrience and other faclois Ihal are considered to be relevant. Actual results may differ from these estimates. The eslimales and underlying a5sumptlons are revlewed on an ongoing basis. Revisions lo accountlng estimates are recognised In the period in which the estimate is revised where the revision affe$ only that period, or in the period ol the revision and future periods where the revision affects both curienl and future pèrlods. Trade debtors M8nagemenl have lo make judgements on Ihe r8VèrabilIlY of trade debtors based upon their historical knowledge and experience ol their customers. Accountlng pollcles Company Information Grendon & Billesley Nursery and Family Centre Limlled is a private company limited by guarantee in¢oiporaled in England and Wales. The reglstèred office is 15 Grendon Road, Kings Heath, Birmingham, B14 4RB. 2.1 Accountlng ¢onvontlon The financial slalemenls have been prepared in accordance wlh thè Charitable company's Memorandum and Articles of Associalion, the ComparTriÈs Act 2006 and 'Accounting and Reporting by Charities.. Stalemenl of Recommended Practice applicable lo chaiilies preparing Ihtsir a¢counls in a¢cordance with the Fin8ncial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accourTrling periods commencing trom 1 Janu3ry 2016). The Charitable company is a Public Benefit Enlily as dèfined by FRS 102. The financial stalern¢nls are prepared in sterling, which is the functional currency of the Charitable company. Monetary amounts in Ihese financial statements are round8d lo the nearest £. The financial statemènts have been prepaTed under the h181orical cost convention. Thè principal accounting policies adopted are sel out below. 2.2 Going concem Al th& lime of approving the finanaal slalements. the Irljslees have a reasonable expe¢lalion th81 the Charitable company h85 adequate ¥esources lo continue in operational existence for thè foreseeable lulur8. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial slalements. 2.3 Charitable funds Unreslrieted funds are available for use al the discretion of the trustees in furtherance of their charltable objectives. Reslricled funds are subject to specific Conditions by donor5 or grantors as lo how they may be used. The purposes and uses of tha reslricled funds are sel out in the notes lo the financial stalemenls. 2A Incomlng resources Income is recognised when the Chaiilable company is legally entiued lo it after any performance ¢ondilions have been met, the amounis can be rneasured rellably, and it is probable thal income will be received. 12-
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 Accountlng policles (Continued) C2sh donations are recognised on receipt. Other donations aré rècognisèd oncè the Charitable oompany h3S been notified of the dofj8lion. unless performance conditions require dèfèrr81 ol the amount, Inrne lax recoverable in relation lo donatlon5 reiVed Linder Gift Aid or deeds of covenanl is recognised at the lime of the donation, L8gacies are recognised on receipt or otherwise rfthe Charitable company has been nolified of an impendfng dislribulion, the amount is known. and receipt is expected.11 Ihe amount Is not known. the legacy is Iwealed as a contingent asset. 2.5 Resource5 expended Expenses are included in the financial siatemgnls as they l)e¢ome due. 2.6 Tangiblè flxed as$ets Tangible fixed assets are staled 91 c031 less depreclalitsn. DepTecialion is provided al rates calculated to write off the cost less eslimaled resid31 value ol each asset over ils expected useful life, as follows". Nursery equipment 25Vo reducing ba18nce The gain or loss arlsing on the disposal of an asset is delermlned as the difference beiween the sale proceeds and the carryin9 value ol the assèt, and is recognised in Ihe statement of financ(al activities. 2.7 Impalrment of fixed assgts Al each reporting end dale, the Charitable Corfipany reviews the carrying amounts of ils tangible assets lo determine whether there is any indication that those assets have suffered all impairment loss. 113ny such Indication exists, the recoverablè amount of the asset is eslimaled in ordér to determine the extent ol the impairment loss lil any). Recoverable arnounl is the hlgher of fair value lès8 Costs lo sell and value use. In assesslng value in use, the estimated future cash flows are discounlEd to their present value using a pre-tax discount ra18 Ihal reflects current market assessments of th8 lime value of money and the risks specif ¢ lo the asset for which the eslimsles of future ¢ash flows have not been adjusted. If the recoveiable amount of an assgt is estimated to be less than Its earrying amount, the carryng amount of the asset is reduced lo ils reeoverable amtsunl. An impairment loss is recognised Immediately in incornel expendiluie lor the year, un165s the relevant asset is carried at a revalued amount. in which case the impairment loss is Ire81&d as a revaluation decrtaso. Recognised impairment losses are revèrsed If, and only if. the ieasons for the Impairment loss have ceased lo apply. Where an Impairmènl105s subsequently reverses, the carrying amount of the assel is incrfja5ed lo the remsed estimate of 115 recoverable amount, bul so that the increased carrying amount does not exce8d the carrying amount that wo(Jld have been determined had no impsirmenl loss been recognised for the asset In prior years. A reversal of an Impxiimenl loss is recognised immediately, vnless the relevant asset is Carried in al a revaljed amount. in whiGh case the Teversal ol the impaitmenl loss is treated as a revaluation Increase. 2.8 Cash and cash equivalents Cash and cash equivalents w)cludé cash in halld, deposits held al call with banks, other short-lerm liquid investments with original malurilies of three monlhs or less. and bank overdrafts. Bank overdratts are shown within borrowings in current li3biSities. 13-
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023 Accountlng pollclgs Iconllnuod} 2.9 Financial instruments The Charitable company has elected to apply ihe proMsion5 of Section 11 '8asic Financial Instrumen15' and Section 12 '01her Financial Instruments Issues, of FRS 102 to all of ils financial instruments. Finanrial instruments are recognised in the Charitable company's balance sh$al wlien the Charitable ¢ompany becomes party lo the contractual provlsions of the inslrumenl. Financial assets and liabilities are tsffsel, wlh the net amounts presented in the finan¢lal statemen15, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention to settle on a n8t basis or lo realisg the asset and settle th8 liability simultaneously. Basic financlalossets Basic financial assets, whlch include debtor8 and cash and bank b31ances. ar8 initially measured 81 transaction prfce including Iran5a¢tion costs and are 5LtbsequenUy carried al amortised c051 uslng Ihe effective interest tnethod unless the arTangement conslilule3 a fin8ncino Iransaetyon, where the transaction is measured at the present value of the futuie receipts discounted al a market rale of inloresl. Financial assets classified as receivable wllhin one year are not amortised. Baslc financial liablllties Basic financial liabililies, including creditors and bank loans are initially recognlsed 81 transaction price unless the arrangement ¢Dnslilule5 8 financlng tian5action, where the debt inslrument 15 measuTed al the present value of the future payrnenls discounted al a market rate of intere31. Financial liabilitiès classified as payable within one year are not 8mortlsed. Debt instruments ale subsequently carried at amortised cost, using the effedive interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of opeialions from supplieis. Amounts payable are classified as current liabllill8s if paytllenl is due wilhin one year or less. 11 not, they are presented as non-current liabilities. Trade creditors are re¢oonised ini118lly al Iransaction price and subsequentty measured al amortised cost using the effectiv¥ interest rnalhod. Dere¢ognlt/on of financlal Ilabllitles Financial liabilities are dere¢ognlsed when the Charitable companls conlradual obligations explre OF are dis¢harged or cancellèd. 2,10 Employèè benefits The c0510l any unused holiday enlillemenl is recognised in the period in which th& employee's services Ore received. Teiminalitsn benefits are recognised immedialety as an expènse when the Charitable company is demonstrably committed lo lerminale the employment of an employee or to prowde lerminalion benefits. 2.11 Retirèment benefits Payments lo defined contribution retirement benefit schemes are charged as an Èxpense as they fall due. 14-
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 30 NOVEM8ER 2023 Income from charltsble actlvltles Unrestrlcted R•slrfcted fund8 funds 2023 2023 Total Uniestrlctèd R•strictod fund$ funds 2022 2022 Total 2023 2022 Nursery fees and grants 1,250,600 726,214 1.976,814 1.332,062 780,984 2,113,046 Income from Investments Unrestricted Rostrlctgd funds funds 2023 2023 Total Unrèstrlctod R•strict8d funds funds 2022 2022 Total 2023 2022 RenÉal incorne Intérasl re¢eiv8ble 72,311 1,789 72,311 6,434 75,027 84 75,027 173 4,64S 89 74,100 4,645 78,745 75,111 89 75,200 Expenditure on charltabl• aetivities Hoadlng
a¢982
2023 HeadSng
ac982
2022 DireGt costs Staff costs Chaiit8ble activities 1,849,685 507,858 1,548,234 590,070 2.357.543 2.736,304 Share of support and governance costs Isee note 7) Governance 4,740 4,650 2,362,283 2,140,954 Analysis by fund Unrestricted fund5 Restricted funds 1,S56,985 805,298 1,432,771 708,183 2,362,283 2,140,954 15
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023 Net movement in funds 2023 2022 The net movement In funds is slated after charglngllcredilingl.. Fees payable for the aLJdit ol the charills financial slalemènls Deprècialiori of owned tangible fixed assets 4,740 3,258 4,650 1.699 Support costs Support Governance costs costs 2023 Support GoveTnan¢e ¢osls costs 2022 Audit fees 4,740 4,740 4,650 4,650 4,740 4,740 4,650 4,650 Analysed belween Charitable 8¢tivilies 4,740 4,740 4,650 4,650 Trustees None of the trustees (or any persons conneclèd wilh them) Te¢èived any remuneration or axpenses durlng the year. Employees The average monthly number of ernployees during the yeaT was.. 2023 Number 2022 Numbor Nursery and Childiens Centre staff 107 79 2022 Employment e05ts 2023 Wages and salaries Social seourily cosls Other pension eosls 1,641,959 111,889 95,837 1,374,154 g1.756 80,324 1,849,685 1,546.234 There weTe no employee5 whose ènnual remuneration was more than £60,000. 16-
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023 10 Taxatio The charity is exempt from laKalion on ils activities because all Ils Sncome Is applied for charitable purposes. 11 Tanglbla fixed 055ets Nursery èqulpment Cost At 1 December 2022 Additions 26.718 7,938 AI 30 November 2023 34,656 Deprèciation and lrnpaimient Al l Dècember 2022 Depreciation charged in tha ye8W 21,622 3.258 AI 30 Nov&mber 2023 24,880 Carrying amount AI 30 November 2023 9,776 At 30 November 2022 5,096 12 Debtors 2023 2022 Amounts falling dua wlthin one year: Tradè debtors 8.8S5 161.046 13 Cr¢dltors.' amounts fallrng due wlthrn one year 2023 2022 Other laxalion 2nd social securlly Accrua15 and dalerred income 24,732 13,882 15,447 11,199 38,614 26,646 14 R•tirement beneflt schemes Defined contributlon $ehemes 2023 2022 Charge lo profil or loss in respect ol definad contribution schemes 95,837 80,324 17
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023 14 Retirement benefit schemes IContinued} The Charitoble company operates a defined contribution pension schame foT all qualifying employees. The assets of the scheme are held separately fitsm those of the Ch8ritable cKJmpany In an 5ndopendtrnlly adminislered fund. 15 Unrestrl¢t&d funds The unreslrlcled funds of Ihe charity ctsrnprise the unexpgnded balances ol donations and grants whlch are not subject lo specific condilions by donors and grantors as to how Ih8y may be used. These include designated funds which have been sel aside oul of unrestricted funds by the Iruslees for specific purposes. At30 Novembèr 2023 At1 Dècamber 2022 Incomlng rasourcp Re$ources expended General funds 551,083 1.324,700 11,556.985) 318,798 Prevlous year: Atl December 2021 Incomlng resources Resouwos èxpended At30 November 2022 General funds 576,681 1,407,173 {1,432.771) 551,083 16 Restricted fund8 The reslricled funds of the charity comprise the unexpènded balances of donation8 and grants held on trust subjecl to specifi¢ conditions by donors as lo how they may be used. At1 De¢gmber 2022 Incoming rosources ResoureGS expended A130 November 2023 Childrens Cent Cornmunity Prole¢ts 858.888 26,430 725,273 5,586 1796,9541 {8,344) 787,205 23,672 885,316 730,859 1805,2981 810,877 Prevlous year: Atl Docember 2021 Incoming resources Resources exponded At30 November 2022 Childrens Centre Community Projeeis 797,128 15.300 729,365 51,707 {667.607) 140.5771 858,886 26,430 812,428 781,072 1708,1841 885.316 18-
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEM8ER 2023 17 Analysis of net ass6ts beeen funds Unro$tTi¢ted funds 2023 Restrf¢ted funds 2023 Tolal 2023 At 30 November 2023: Tangible assets Current assetsllliabililiesl 9,776 309,022 9,776 1,119,899 810.877 318,798 810,877 1,129,675 Unrestrrcted funds 2022 Rostrlct8d funds 2022 Totsl 2022 At 30 November 2022: Tangible asset5 Current asselsllliabilities) 5,096 545.987 5,096 1,431,304 885,317 551,083 885,317 1,436.400 18 Related party tran$a¢tions There were no disclosable related party transactions during the year {2022- nonel. 19 Analysis of changes in n$tfunds The Charitable company had no malerfal debt during the year. 20 Cash ggnerated from operations 2023 2022 IDefi¢illlsurpus for the year 1306,724) 47,292 Adjuslmenls for.. Investment income recognised in slalemenl of financial aclwities Depreciation and Impairment of tangible fixed assets 178,7451 3.257 175,2001 1,698 Movements in worklng capital.. Decreasellincreasel in debtors Inereasel{d8creasel In creditors 152.197 11,968 148,1611 {3,188) Cash absorbed by operatlons 1218,053) 177,5591 19-