Charity Number: 1153838 St Cuthbert's Old School Nursery Annual Report and Unaudited Financial Statements for the financial year ended 31 March 2024
St Cuthbert's Old School Nursery CONTENTS Page Reference and Administrative Information Trustees, Report Statement of Trustees, Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet 10 Notes to the Financial Statements
St Cuthbert's Old School Nursery REFERENCE AND ADMINISTRATIVE INFORMATION Trustees Rev lan Chidlow (Appointed 1 September 2023) Joanne Davids Caroline Salisbury Martin Cheal Lora Gardner (Appointed 5 July 2023) Rev Mike Newman (Resigned 31 Augusl 20231 Teresa Breslin {Resigned 31 August 20231 Charity Number in England and Wales 1153838 Principal Address Councillor Lane Cheadle Cheshire SK8 2BY Independent Examiner Steven Nixon Bsc (Hons) FCCA Langers MN Limited Chartered Certified Accountants and Registered Auditors 8-10 Gatley Road Cheadle Cheshire SK8 1PY GB
St Cuthbert's Old School Nursery TRUSTEES. REPORT for Ihe financial year ended 31 March 2024 The trustees present their Trustees. Report and the unaudited financial statements for the financial year ended 31 March 2024. The financial staternents are prepared in accordance wilh the Charib'es Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their financial statements in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Trustees, Report contains the infomiation required to be provided in the Trustees, Annual Report under the Stalement of Recommended Practice (SORP) guidelines. The trustees of the charity are also charity trustees for the purpose of charity law and under the charity's constitution a known as members of the board of trustees. In this report the truslees of St Cuthbert's Old School Nursery present a summary of its purpose, governance, activities, achievements and fInanS for the financial year 31 March 2024. The charity is a registered charity and although not obliged to comply with the Statement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102. the organisation has implemented its recommendations where relevant in Ihese financial statements. Mission. Objectives and Strategy Objectives The Nursery is run with the objective of providing a high standard of early yearfs education with a Christian ethos and is successful in creating a happy and loving atmosphere in which children can thrive and be prepared for entry into school education. The trustees have taken note of the Commission's guidan on public benefii and regard the provision of high quality nursery education to the local community as meeting this requirement. In particular, the Nursery is able to take special needs children and is widely used by the Stockporl Portage Team. The nursery naturally covers all faiths in its prograrnme. bul maintains its Christian ethos with visits to church for short child friendly seNices (to which parents are invited) at Harvest, Christmas, Easter and for a Leavels Service at the end ofthe year. Structure, Governance and Management Structure How the Gharity makes decisions and how decisions are delegated. The Nursery operates under the auspices of St Cuthbert's Church which itself is part of the Parish of St Mary's Icheadlel. The nursery premises are in a fomier Victorian school which are held in trust by the rector and churchwardens of Cheadle Parish Church. l.L. Chidlow is ex-officio as minister of St Cuthbert's Church. C. Salisbury is appointed by the Parochial Church Council of St Marys as churchwarden of St Cuthbert's Church. M. Cheal is appointed by the Parochial Church Council of Sl Marys on fixed tems. J.L Davids was appointed by the Parochial Council ofst Ma$ on fixed tems. L. Gardner is manager of the Nursery and the Ofsted nominated person appointed by the Parochial Council of St Mary's for her period as manager. Mrs Gardner is paid for her role as manager. The appointrnent of the manager as a trustee was on the direclion of Ofsled. Mrs Gardner reiVeS no financial benefiis from her trusteeship. The other tSleeS are unpaid and receive no financial benefit from their position. The Trustees meet at least three times per year and take an oversight on the operalion ofthe nursery, finances, strategy, staffing levels and building maintenance issues. The day to day operation ofthe nursery is under the supervision of manager- Mrs L Gardner. Review of Activities, Achievements and Perfomiance The main achievernents and performance of the charity during the year The Nursery opening hours are: Mondays 09.'00-12:00
St Cuthbert's Old School Nursery TRUSTEES. REPORT for Ihe financial year ended 31 March 2024 Tuesdays 09:00- 15'.00 Wednesdays 09.00-15.00 Thursdays 09=00-15.00 Fridays 09.'00-15'.00 As at 3110312024 there were 34 children on our register. 2 less than the 36 last year. 3 children are being observed. assessed and supported by our SEND advisory team. 25 children received Govemment funding. 5 children receive Earfy Years Pupil Premium funding, one of these children reiVeS Deprivation Supplement Funding and 2 others also receive this. Our staffing level remains at 10. Activities We were able to hold our usual services and activities within the school and al St Cuthbert's Church. New equipment has been added to the sensory room. Staff: In September 2023 we welcomed a new Nursery Manager and change of OFSTED appointed person. We also welcomed a new Chair of Trustees. The Church Treasurer. a Trustee. has continued to act as Treasurer lo the Nursery. All staff completed Basic Safeguarding and 5 staff completed a Paediatric First Aid course. The Manager and Deputy Manager completed Designated Safeguarding Lead training. We have one NVQ Level 3 student who attends the setting on placement 3 days a week. Futuro Plans We continue to invite more outside agencies. visitors and guest speakers to support our children and families. The manager and chair of trustees will be attending a training session on the roles and responsibilities of an eady year's committee. Buildings and Maintenance There have been no signrficanl building changes throughi)ut the last year, apart from routine and necessary maintenance work. The fencing to one of the outside play areas was replad in the year. Financial Review During the financial year 2023-2024 total reip1S were £109,892 with an expenditure of £113,497 giving a net expenditure of £3.605. Current net assets at the year-end were £69.413 comfortably above our reseNe figure of £31.000. Results At the end of the financial year the charity has assets of £155,460 (2023 £157,849) and liabilities of £3,100 (2023 £1,884). The net assets of the charity have decreased by £(3,605). Reference and Administrative details The charity name. The legal name of the charity is'.- St Cutrbert's Old School Nursery The charity's areas operation and UK charttable registration. The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1153838 Legal structure of the charity Th8 goveming document of the charity is the cA)nstitution of the CIO dated 17 September 2023 as approved by the Charity Commission in England & Wales (CCEW). In accordance with the Constitution, the trustees retire by rotation and, being eligible, offer themselves for re-election.
St Cuthbert's Old School Nursery TRUSTEES. REPORT for Ihe financial year ended 31 March 2024 Compliance with Sector-wide Legislation and Standards The charity engages pro-actively with legislation, standards and codes which are developed for the sector. St Cuthbert's Old School Nursery subscribes lo and is compliant with the following= The Charities SORP IFRS 102) 3110112025 Approved by Ihe Board of Trustees on and signed on its behalf by: Joanne Davids Trustee
St Cuthbert's Old School Nursery STATEMENT OF TRUSTEES. RESPONSIBILITIES for Ihe financial year ended 31 March 2024 The trustees are responsible for preparing the financial statements in accordance with applicable law and regulations. The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the assels. liabilities and financial position of the charity as at the financial year end date and of the surplus or deficit of the charity and otherwise comply with the Charities Act 2011. In preparing these financial statements, the trustees are required to: selecl suitable accounting policies and app them consistentty., make judgements and accounting estimates that are reasonable and prudent., stale whether the financial statements have been prepared in accordance with applicable accounling standards, identify those standards, and note the effect and the reasons for any material departure from those standards,. and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The trustees confimi that they have complied with the above requirements in preparing the financial stalements. The trustees are responsible for keeping adequate accounting records that are sufficienl lo show and explain the charity's transactions and disclose with reasonable accuracy at any time Ihe financial position of Ihe charity and enable them to ensure that the financial statements COMP with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and deleclion of fraud and other irregularities. 3110112025 Approved by the Board of Trusteos on and signed on its behalf by: Joanne Davids Trustee
St Cuthbert's Old School Nursery INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF ST CUTHBERT'S OLD SCHOOL NURSERY I have examined the financial statements of the charity for the financial year ended 31 March 2024, which comprise the Statement of Financial Activities, the Balance Sheel and the relaled notes. This report is made solely to the charity's members, as a body, in accordance with seclion 145 of ihe Charities Act 2011. My work has been undertaken so that I might compile the financial stalements that I have been engaged to compile. report to the Board ofTruslees Ihat I have done so, and state those matters that I have agreed lo slate to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accepl or assume responsibility to anyone other than the charity and the charitys members. as a body. for my work. or for this report. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the financial statements in accordan with the requirements of the Charities Act 2011. The charity's trustees consider that an audit is not required for this financial year under Section 145 of the Charilies Act 2011 and that an independenl examination is required. It is my responsibility to.. examine the financial statements under section 145 of the Act- follow the prOdureS laid down by the general Directions given by the Chartty Commission under section 145151 of the Charities Act 2011., and state whether particular matters have come to my attention. Basis of independent examinerfs report My examination was carried out in accordan 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 financial statements presented with those records. It also includes consideration of any unusual ilems or disclosures in the financial statements and seeking explanations from the trustees concerning any such matters. The procedures undertaken do nol provide all the evidence Ihat would be required in an audit and consequenlly no opinion is given as to whether the accounts present a 'true and fairf view and the report is limited to those matters set out in the statement below. Independent examiner's statement In connection with my examination. no matter has come to my attention which gives me cause to believe that in. any material respect= accounting records were not kept in accordance with section 130 of the Charities Act 2011 the financial slatements do not accord with those accounting records the financial statements do not comply with the accounting requirements of the Charities Ad the financial statemenls have not been prepared in accordance with the 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 (FRS102} there is further information needed for a proper understanding of the accounts to be reached. I have no (x>ncems 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 financial statements to be reached. Steven Nixon Bsc (Hons) FCCA LANGERS MN LIMITED Chartered Certified Accountants and Registered Auditors 8-10 Galley Road Cheadle Cheshire SK81PY GB Date: 31 January 2025
St Cuthbert's Old School Nursery STATEMENT OF FINANCIAL ACTIVITIES for Ihe financial year ended 31 March 2024 Unrestricted Funds 2024 Total Unrestricted Funds Funds 2024 2023 Total Funds 2023 Notes Income Donations and legacies Charilable activities Nursery Investments 147 147 109,742 150 109,742 150 103,823 94 103,823 94 Total income 109,892 109,892 104,064 104.064 Expenditure Charitable activities 113,497 113.497 100,355 100.355 Net incomellexpenditure) (3.605) (3.605 3,709 3,709 Transfers between funds Net movement in funds forthe financial year (3.605) {3.605} 3,709 3,709 Racon¢iliation of funds: Total funds beginning of the year 15 155.965 155.965 152,256 152,256 Total funds at the end of the year 152,360 152,360 155,965 155,965 The Statement of Financial Activities includes all gains and losses reccwJnised in the financial year. All income and expenditure relate lo continuing activities. The notes on p8ge5 11 to 16 form part of the financial statements
St Cuthbert's Old School Nursery BALANCE SHEET as at 31 March 2024 2024 2023 Notes Fixed Assets Tangible assets 82.947 88.810 Current Assets Debtors Cash at bank and in hand 10 147 72.366 356 68,683 72.513 69,039 Creditors: Amounts falling due within one year 11 (3.1001 (1,884} Net Current Assets 69.413 67,155 Total Assets less Current Liabilities 152,360 155,965 Funds General fund (unrestricted) 152.360 155,965 Total funds 15 152.360 155,965 The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime and in accordan with FRS 102 Vhe Financial Reporting Standard applicable in the UK and Republic of Ireland" applying Section 1A of that Standard. Approved by the Board of Trustees and authorised for issue on behalf by 3110112025 and signed on its Joanne Davlds Trustee The notes on p8ge5 11 to 16 form part of the financial statements 10
St Cuthbert's Old School Nursery NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 GENERAL INFORMATION Sl Cuthbert's Old School Nursery is a charity incorporakd in England. The registered Offi of the charity is Councillor Lane, Cheadle. Cheshire. SK8 2BY which is also the principal place of business of the charity- The financial statements have been presented in Pound (£) which is also Ihe functional currency of Ihe charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The followng accounling policies have been applied consistently in dealing wth items which are considered material in relation to the charity's financial ststements. Basis of preparation The financial statements have been prepared on the going concem basis under the historical cost nventiOn. modified to include certain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordan with the Financial Repong Standard applicable in the UKand Republic of Ireland FRS 102" applying Section 1 A of that Standard. As pemiitted by the Companies Act 2006. the charity has varied the standard fomals in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the standard formals are lo comply with the requirements of the Charities SORP and are in Complian with section 4.7, 10.6 and 15.2 of that SORP. Statement of compliance The financial statemenls of the charity for the financial year ended 31 March 2024 have been prepared on the going concem basis and in accordance with the Statementof Recommended Practice {SORPI"Accounting and Reporting by Charities preparing theiraccounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A ofthat Standard. Fund accounting The following are the categories of funds maintained= Unrestricted funds Unrestricted funds consist of General and Designated funds. General funds represent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the charity. Designated funds comprise unrestricted funds that the board has, at ils discretion. set aside for particular purposes. These designations have an administrative puq)ose only, and do not legally restrict the board's discretion to apply the fund. Income Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally entitled to the income, performance conditions attached lo Ihe itemls) of income have been met, the amounts involved can be measured wth sufficient reliability and it is probable that the income will be received by the charity- Nature of income and recognition All incoming resources are included in the statement of financial aclivilies when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income. Voluntary income is received by way of donations and is included in full in the statement of financial activities when receivable. Grants, including grants for the purchase of fixed assets. are recognised in full in the statemenl of financial activities in the year in which they are receivable. Expenditure A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a pasl event. and when it is more likely than not that a transfer of economic benefits will be requiffd in settlement, and when the amount of the obligation can be measured or reliably estimated. Charitable expenditure comprises those cosls incurred by the charity in the delivery of its acbvities and services for its beneficiaries. It includes both costs that can be directly allocated to such actNities and those costs of an indirecl nature necessary to support them. 11
continued St Cuthbert's Old School Nursery NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 Tangible fixed assets and depreciation Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets. less their estimated residual value. over their expected useful lives as follows." Long leasehold property 4% Straighl line Debtors Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid netofany trade discounts due. Income recognised bythe charityfrom government agencies and other co-funders, bul not yel received at financial year end, is included in debtors. Cash at bank and in hand Cash at bank and in hand comprises cash on derM)Sit at banks requiring less than three months notice of withdrawal. Taxation The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 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 8re applied exclusively on the spectfic charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity. and is therefore induded in the relevant costs in the Statement of Financial Activities. Pensions The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separalely from those of the charity. Annual contributions payable to the charity's pension scheme are charged to the profit and loss account in the period to which they relate INCOME DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds 2024 2023 Donations individually less than £1.O¢XJ Grants individually less than £1.000 140 147 CHARITABLE ACTIVITIES Unrestricted Restricted Funds Funds 2024 2023 Nursery: SMBC Grant SMBC Special Fees Parents Fees 90,201 90,201 86,836 874 16,113 19.541 19.541 109.742 109.742 103,823 INVESTMENTS Unrestricted Restricted Funds Funds 2024 2023 Bank interest 150 150 94 12
continued St Cuthbert's Old School Nursery NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 EXPENDITURE CHARITABLE ACTIVITIES Direct Costs Other Costs Support Costs 2024 2023 Gross wages and salaries Defined contribution pension (x)sts Tnjstees, remuneration Trustees Defined contribution pension costs Water. heat and light Cleaning wages & materials Buildings and grounds maintenan Telephone Postage and stationery Insuran Sundry expenses Staff meals and gifls Gratuities Equipment repairs and renewals Photographs Craft Materials Refreshments Depreciation & Amortisation Professional fees and subscriptions and staff training Governance Costs (Note 4.2) 66,861 980 15,992 261 66,861 980 15,992 261 64,513 782 10,196 119 2,685 6.298 4,196 1.050 24 447 967 879 2,685 6.298 4,196 1.050 24 447 967 879 2.839 5.505 1.349 971 188 434 1,899 559 26 2.365 73 416 813 5.862 2,232 2,232 333 776 5,863 2.169 333 776 5.863 2.169 1.484 1.484 1.446 84,094 29,403 113,497 100.355 GOVERNANCE COSTS Direct Costs Other Costs Support Costs 2024 2023 Independent Examinerfs fees Independent Examinerfs fees- other serVIS 864 620 864 620 606 1,484 1,484 1.446 SUPPORT COSTS Charitable Govemance Activities Costs 2024 2023 Support 27.919 1,484 29.403 24,745 ANALYSIS OF SUPPORT COSTS 2024 2023 Support 29.403 24.745 NET INCOME 2024 2023 Net Income Is stated after charglngl(credlting): Depreciation of tangible assets Independent Examinerfs remuneration: independent examination services - lax advisory SeNiS 5,863 5.862 864 620 606 13
continued St Cuthbert's Old School Nursery NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 INVESTMENT AND OTHER INCOME 2024 2023 Bank interest 150 94 EMPLOYEES AND REMUNERATION Number of employees The average number of persons employed (including executive trustees) during the financial year was as follows.. 2024 Number 2023 Number Charitable Activities 10 The staff costs (inclusive of trustees. salaries) comprise: 2024 2023 Wages and salaries Pension costs 82,853 1,241 74.709 901 84.094 75.610 No employee received employee benefits {excluding employer pension costs) of more than £60,000. TANGIBLE FIXED ASSETS Long leasehold property Total Cost At 31 March 2024 146,563 146,563 Deprecialion At 1 April 2023 Charge for the financial year 57,753 5,863 57,753 5,863 Al 31 March 2024 63,616 63,616 Net book value At 31 March 2024 82,947 82,947 At 31 March 2023 88,810 88,810 10. DEBTORS 2024 2023 Prepayments and accrued income 147 356 14
continued St Cuthbert's Old School Nursery NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 11. CREDITORS Amounts falling due within one year 2024 2023 Trade creditors Taxation and social security costs (Note 12) Accnjals and deferred income". Pension accrual Other accruals 140 1.109 252 1,599 1.884 3.100 1.884 12. TAXATION AND SOCIAL SECURITY 2024 2023 Creditors: PAYE I NI 1.109 13. PENSION COSTS - DEFINED CONTRIBUTION The charity operates a defined contribukn'on pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. Pension costs amounted to £1,241 12023 - £901}. 14. RESERVES 2024 2023 At the beginning of the year {Deficit)ISurplus for the financial year 155,965 (3,6051 152,256 3,709 Al the end of the year 152.360 155,965 15. FUNDS 15.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Funds Total Funds Al 1 April 2022 Movement during Ihe financial year 152,256 3,709 152,256 3,709 Al 31 March 2023 Movement during the financial year 155,965 {3,605) 155,965 {3,605} At 31 March 2024 152.360 152.360 15.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 April 2023 Income Expenditure Transfers between funds Balance 31 March 2024 Unrestricted funds Unrestricted General 155.965 109.892 113,497 152.360 Total funds 155.965 109.892 113.497 152.360 Unrestricted Funds These funds are held for the meeting the objectives of the charity, and lo provide reserves for future activities. and, subject lo charity legislation, are free from all restrictions on their use. 15
continued St Cuthbert's Old School Nursery NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 15.3 ANALYSIS OF NET ASSETS BY FUND Fixed assets - charity use Current assets Current liabilities Total Unrestricted general funds 82.947 72,513 (3.100) 152.360 82,947 72,513 (3,100) 152,360 16. TRUSTEES. REMUNERATION 2024 2023 Remuneration including pension contributions 16,253 10,315 Remuneration payable to trustees or connected persons Mrs M.T Breslin - £4,465 {2023 £10,196) Mrs L.J.Gardner- £11,527 (2023 £0) Nursery manager. Mrs Breslin. was an employee since September 1996. She was appointed as a trustee in April 2016 on the direction of Ofsted. Mrs Gardner replaced Mrs Breslin 31 August 2023. In addition to salary the nursery manager also reiVeS employer pension contributions. Pension payments relating to trustees or connected persons Mrs M.T Breslin - £5612023 £119) Mrs L.J.Gardner- £205 (2023 £0) 17. RELATED PARTY TRANSACTIONS There were no transactions with related pareS in the year. except with regard lo trustees, remuneration, which is fully disclosed in notes above. 18. POST-BALANCE SHEET EVENTS There have been no significant events affecting the Charity since the finanaal year-end. 16