Charity Registration No. 1154148 Company Registration No. 04222352 (England and Wales) Woodroyd Nursery And Childrens Centre (A Company Limited By Guarantee) Trustees, Annual Report And Financial Statements For The Year Ended 31 March 2024
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr H Siddique Ms H Hall MrT Sajawal Ms L Roche Charity number 1154148 Company number 04222352 Principal staff Lyndsey Roche (Nursery Manager) Operating address Woodroyd Nursery l•loodroyd Road Bradford BD5 8EL Registered office 125 Main Street Garforth Leeds LS25 1AF Independent examiner Jessica Len FCA CTA Azets Audit servIs Limited 12 King Street Leeds LS12HL Bankers National Westminster plc 69 Station Road Cross Gates Leeds LS15 8DJ
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) CONTENTS Page Trustees, report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 10-19
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees who are also Directors for the purposes of company law, are pleased to present their annual report together wilh the independently examined financial statements of the charity for the year ended 31 March 2024, which are also prepared to meet the requirements for a directors, report and Financial Statements for Companies Act purposes. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's memorandum and articles of association, the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)° (effective from 1 January 2019). Reference and Administrative Details The Legal and Administrative Information page fomis part of this report. Objectives and activities The charity's objects are.. To enhance the development and education of children. particularly bui not exclusively, below StatOry school age and to advance education, relieve povety. sickness, and distress. and provide leisure time facilitEs in the interests of social welfare for families in West B0Ing and the surrounding area. To work in partnership with parents and other agencies to enable us to achieve our goal. The Charity is no longer supported by the Sure Start Govemment programme and the current services provided by the Charity consist of the Childcare provision however the principals of the Charity continue as we maintain our commitment to children services and supporting children and their families with additional needs. The Woodroyd Nursery and Children's Centre reach area covers the local Bradford City area of West Bowling. The aims, objectives and activities of the charity are reviewed annually, and our achievements assessed. When reviewing the aims and objectives of the charity, and in planning future activities, the Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission. The Trustees have paid due regard to guidan issued by the Charity Commission in deciding what activities the Charity should undertake. Achievements and performance Woodroyd Nursery and Children's Centre is constantly developing its practice to meet the needs of children and their parentslcarers in the local communty. During this financial year the childcare facility offered 88 places and 176 sessions. Occupancy in the 2-3-year old's room was 73 % and >5-year old's room 92% by 31 March 2024. The Early Years Foundation Stage framework has been fully implemented and the electronic system for tracking children's development across the nursery has been embedded in practi. All staff have been updated on the new Early Years Foundation Stage Framework in September 2021 and have all received a copy of the new framework. All staff have received training from Specialist Earfy Years Teachers from the SCIL team on bespoke interventions to support children with additional needs and refresher training in July 2022 for Paediatric First Aid and Anaphylaxisl Epi-pen training to ensure the health and safety of children attending the setting is maintained. Staff have also completed an NVQ level 2 qualification in Autism Awareness to gain knowledge and support children with additional needs. All staff received refresher training in 2022 on the important area of Safeguarding Children. Chikjren's attendance is monitored and tracked daily following the Nursery's Safeguarding and Attendance Policy. Off- premises forms are monitored daily and audited weekly to safeguard children.
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Key achievements this year include: Woodroyd Nursery and Children's Centre is based in a deprived area which has very low national data for deprivation. We have many children who are able to access the free 2- and 3-year-old entillement places in nursery. Woodroyd Nursery and Children's Centre have continued to develop its work with Bradford Trident, a local regeneration organisation, who in partnership have successfully won the Lottery Better Start Programme bringing up to £50 million to the local area, to support children and families by funding grants to providers to deliver stay and play groups for children and training programmes for parents. Woodroyd Nursery and Children's Centre is continuing to work in partnership with other childcare providers from the local area and family hub services in the community to proactively work together to increase up take of 2-year offer. Woodroyd Nursery and Children's Centre is currently working wth the local authority across the Early Years Foundation Stage, wth direct project links with the local schools in the area. This project supports the development of children in key areas of learning through tracking and data sharing. This collaborative working highlights that children from our Centre are attaining positive outcomes. Training has continued to be an important part of continuous professional development and staff have received refresher training for all the mandatory requirements as well as Early Years Education training and training in intervention to support SEN children. We use online Noodle Now training programmes to support continuous development and staff have registered with Woodspeen Training who offer training programmes focused on additional needs. We continue to support our staff with developing their skills and enhancing their qualifications, Natalie continues to work on achieving a level 5 diploma in Leadership and Management and Lyndsey continues to work to achieve a foundation degree in Eady Childhood and Education. We aim to have all pemianent staff qualified at level 3, Currently we have twelve staff qualified as Iwel 3 Early Years Practitioners one of which also holds a level 4, and we have qualified at level 2. Management and staff visited Delius Special School and received a tour to gain insight into best practice for children with SEN, this visit also included training on different development strategies to support SEN children. Woodroyd Nursery and Children's Centre have built a team of Bank Staff to provide children with Consistency and to remain Cost effective. We use Continuous professional development programme to mentor and develop staff skills and knowledge. Although there is a national issue with the uptake of 2-year-old places, the nursery numbers have increased since last year. We continue to work closely wth Uptake Officer from the local authority and Education Bradford as they promote the 2-year offer. We have enhanced our marketing and have created a Facebook page to promote the nursery and the 2-year offer. We continue to run a weekly Stay and Play which is delivered by a parent from the local community, the group is aimed at families wth children under five years. This has supported the nursery in the uptake of childcare places. We work in partnership wth Bradford Under 5 Association who attend the sessions to carryout activities and are available to access support and advice. The parent in the lead delivering our stay and play sessions has successful achieved a certificate in first aid. We offer 88 places either full day care or sessional term time only to children from the ages of 2-3's and 3-5s. All staff work effectively to support children in meeting the seven areas of learning and the characteristics of effective practice in Early Years Foundation Stage Framework. staff have individual development plans which nSistS of management targets as well as peer observation targets. These plans are regularly evaluated and updated in line with staff supetvision targets. Woodroyd Nursery and Children's Centre work dosely wth the local authority on the quality improvement prioritisation and support tool. A focus action plan is in pla with OFSTED actions which we are continuously working towards achieving through our daily practice. Children show good progress on the nursery cohort average point progress system. Children's progress is monitored termly, and individual children action plans are implemented to support children's progression in areas showing risk of delay. at typical, or ahead. Woodroyd Nursery and Children's Centre have developed strong working relationships with the SCIL team to support the development of children wth additional needs this includes social, communication and interaction difficults'es.
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Woodroyd Nursery and Children's Centre have continuously been working in partnership with NHS Fluoride varnishing programme for the past few years to ensure children within our setting are accessing dental care. The programme aims to improve the oral health of young children by providing toothbrushes and fluoride toothpaste at nursery and applying fluoride vamish to children's teeth twice a year. I CAN Speech and Language carries out educational assessments for children with a range of difficulties and specialise in children with speech. language. and communication needs. Woodroyd Nursery and Childrens Centre work alongside I CAN to provide educational support to those children with difficulties. Woodroyd Nursery continue to work with community nurses, portage workers, the early years inclusion funding team and the SEN team from the local auihority to provide support to children with complex health needs within our nursery. We continue to work with other professionals such as Social Care, Early Help and Health Visitors, to deliver the best possible outcomes to children within our nursery. Our partnership worf( with Better Start Bradford supports the intake of children within the setting. And we are able to signpost parents and carers to enable them to asS the range of services they offer. We work in partnership with Bradford College giving students the opportunty to enhan their leaming and development within early years through placement. We lease offices to Better Start Bradford HENRY and offer room hire to local community organisations which generates a monthly income. Woodroyd Nursery and Children's Centre re1ve SEN funding to support the needs of children with additional needs within our setting. We work in parlnership with external agencies such as psychologists, speech and language, health, local authority inclusion team and the sensory and physical needs team to support children's development and provide reports and stratergies to implement in the setting. We Continue to ensure that every child that requires additional support obtains an Education Health Care Plan to support them whilst in setting and in future education. Public Benefit Nursery: Woodroyd Nursery and Children's Centre offer high quality nursery education through the free entitlement for all 2, 3 and 4 year olds who meet a set government criteria, enhancing their educational attainment. To Children: The provision of high quality childcare and education delivered in purpose built and well-resourced settings enables children from disadvantaged areas to enjoy and achieve their potential in regard to their physical, social and intellectual development. To Families: The provision of affordable and locally accessible day and sessional care enables parents and families to improve their economic well-being.. parents are enabled to return to employment andlor training which contributes to lessening the impact of low income and unemployment on the health and well-being of families. All families are supported to access ents'tlements to INorking and Childcare Tax Credits and Universal Credits towards the cost of childcare fees and any entitlements attached to returning to work or education. Families receive support with parenting routines. behavior and safeguarding. General All our services are evaluated by parents and other agencies we work along5ide,- we have an increasing body of evidence which shows how valued the services are and the impact they are having on families and individual children. We are also able to evidence the positive changes to the work practices of other agencies as a result of the joint working and training we provide. In tenns of workforce development. our annual Training Needs Analysis shows that all staff have again accessed or more training courses during the period. The Child Care Provision received an Ofsted inspection grade of Outstanding in All Areas in January 2023. As of April 2018 we are no longer required to maintain an Ofsted Self Evaluation Plan however as a matter of good practice we continue to update our own Centre Improvement Plan.
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Contextual Inforniation As an organisation we are committed to the on-going professional development of our staff. The organisation produces an annual staff training plan which links directly to our Servi and staff development needs,. this process is roLrtinely tied into our staff supervision and annual appraisal system. This also ensures that the children's educational curriculum is continually changing to meet Education objectives and individual learning plans. Fundraising Section 162a of the Charities Act 2011 requires charities to make a statement regarding fundraising activities. The legislation defines fundraising as 'soliciting or otherwise procuring money or other property for charitable purposes" The charity does not actively raise funds from the public eilher directly or via use of an agent, accordingly no such amounts are presented in the financial statements for the year under review. Given the nature of the funding of the charity the Trustees consider that it remains appropriate rot to be voluntarily bound to be regulated by the Fundraising Regulator. The charity has received no complaints in relation to fundraising a¢tivty for the year under review. Financial review The income for the year was £531,963 (2023 - £397,511), with expenditure of £520,462 (2023 - £386,376) which left us with a surplus of £11,501 (2023 - £11,315 surplus). Our total reserves are £1,158,70312023 - £1,147,201) of which £332,080 {2023 £307,824) is free reserves. Given funding changes this is ne5s3r1lY in excess of the historic reserves policy of holding 6 months operating expenditure. The charity's principal source of funding is grant funding received via Bradford Metropolitan District Council for the Children's Nursery and Centre fee income reiVed mainly from parents for the provision of day care nursery services. Trustees are informed at Board meetings of the financial status of the Charity by the Finance Officer who explains the detail of the financial sheets. The financial documents are available for further scrutiny should the Trustees require. Plans for future periods The Nursery provision will continue to focus on its development away from the full Children Centre delivery programme ensuring that we are a sustsinable service that continues to support the development and arnIng of young children. Obtaining a high assessment grade with Ofsted will be a priority. It is anticipated that additional funding and support services will be identified by the Charity to maintain delivery of athlitional family support services such as targeted Stay & Play groups. health dropin sessions and physical activity groups i.e., PE sessions. The Board of Trustees will continue to support the staff team deliver services in the future and build on our success identifying approaches to ensure we continue to meet the objectives of our charity. Woodroyd Nursery and Children's Centre staff bMII continue to carry out outreach to support nursery occupancy. Woodroyd Nursery and Children's Centre will continue to work in partnership with Bradford East Family Hub to support the delivery of outreach using the s2s list targeting families with Children aged 2.
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management Woodroyd Nursery and Children's Centre is a registered charity and company limited by guarantee and is therefore govemed by a Memorandum and Articles of Association. The charity generally recruits new Trustees through personal contact and recommendation from existing Trustees. An advert is placed on the Website and nursery newsletter to encourage any new parent Trustees to ar¥)ly. All Trustees are routinely supplied with updates and information with regard to their role and are checked for suitability, including DBS check. All Trustees have equal voting rights with the exception of Lyndsey Roche. Trustee and Nursery Manager, who are unable to participate in votes. Any remuneration paid or expenses reclaimed by Trustees from the charity are set out in note 6 to the financial statements. The charity is organised so that the Trustees meet regularly to manage its affairs. Woodroyd Nursery and Children's Centre has a policy of continual review of operational and financial risks based upon tried and trusted policies and procedures. The Trustees meet regularly throughout the year. The pay of the charity's key personnel is reviewed annually and normally increased in accordance with average earnings. The remuneration is also bench-marked wth nurseries of a similar size and activity to ensure that the remuneration set is fair and not out of line with that generally paid for similar roles. The Trustees, who are also the directors for the purpose of company law, and who sepied during the year and up to the date of signature of the finanical statements were= H Siddique H Hall T Sajawal L Roche Small Company Rules This report has been prepared in accordan with the special provisions for small companies under Part 15 of the Companies Act 2006. The Trustees, report was approved by the Board of Trustees on their behalf by: It Siddiqu6 Mr H Siddique Chair of Trustees 2111012024
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees, who are also the directors of Woodroyd Nursery and Childrens Centre for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in acrdanCe wth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the Trustees to prepare financial statements for each financial year which gwe a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. 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 UK 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 ¢oncem basis unless it is inappropriate to presurre that the Charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statemerts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and here for taking reasonable steps for the prevention and detection of fraud and other irregularities.
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WOODROYD NURSERY AND CHILDRENS CENTRE I report to the Trustees on my examination of the financial statements of Vvoodroyd Nursery and Childrens Centre for the year ended 31 Mard) 2024. This report is made solely to the Charity's Trustees. as a body, in accordan with Section 145 of the Charities Act 2011. My independent examination work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in an Independent Examinevs Report and for no other purpose. To the fullest extent pemiitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my independent examination work, for this repoyt, or for the opinions I have formed. Responsibilities and basis of report As the Trustees of the Charity {and also its Directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the Charty are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the Charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directs'ons given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examinerfs Statement Since the Charity's 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 l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants. which is one of the listed bodies. I have completed my examination. I confinn that no matters have come to my attention in Connectic with the examination giving me cause to believe that in any material respect- accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act,. or the financial statements do not accord wth those records: or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter consided as part of an independent examination-, or the financial statements have not been prepared in accordance wth the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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 financial statements to be reached. Jessica Lawrence FCA CTA Azets Audit Services Limited 12 King Street Leeds LS12HL 2111012024
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Total Total 2024 2023 Notes Income from: Charitable activities Other trading activities - rental income 311,748 25.088 195,127 506,875 25,088 381,148 16,363 Total income 336.836 195.127 531,963 397,511 Charitable activities 325.335 195.127 520,462 386.376 Net income for the yearl Net movement in funds 11,501 11,501 11,135 Fund balances at 1 April 2023 1,054,276 92,926 1,147,202 1,136,066 Fund balances at 31 March 2024 1,065,777 92.926 1,158,703 1,147,201 The statement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. A fully detailed Statement of Financial Activities for the year ended 31 March 2023 is shown on Note 3 to the financial statements. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. The notes on pages 10 - 19 form part of these financial statements.
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets 826,623 839,377 Current assets Debtors Cash at bank and in hand 10 6,145 363.926 6,751 323,041 370.071 329,792 Creditors: amounts falling due within one year 11 (37,991) {21,968) Net current assets 332,080 307,824 Total assets less current liabilities 1,158,703 1,147,201 Funds Restricted funds Unrestricted funds 13 92.926 1,065.777 92,926 1,054,275 1,158.703 1,147.201 The charilable company is entitled to the exemption from the audit requirement contained in section 477 of the CompaniesAct 2006, for the year ended 31 March 2024. The directors aCknOedge their responsibilities for complying with the requirements of the Companies Act 2006 th respect to accounting records and the preparation of financial ststements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordan with section 476. These financial statements have been prepared in accordan with the provisions applicable to companies subject to the small companies regime. 2111012024 The financial statements were approved by the Trustees on ......................... It Siddiqu6 Mr H Siddique Chair of Trustees Company Registration No. 04222352
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies The principal accounting policies adopted. judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows.. Charity infonnation Woodroyd Nursery and Childrens Centre is a charitable company limited by guarantee, the liability of the Trustees is limited to £1. The Charity was incorporated in England and valeS and the registered office is 125 Main Street, Garforth, Leeds, LS25 1AF. 1.1 Accounting convention The financial statements have been prepared in accordance with the Charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the fundional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £1. The financial statements have been prepared under the historical cost convention. 1.2 Going concern At the time of approving the financial sL3tements. the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existen for the foreseeable future. Thus the Trustees continue to adopt the going cOnM basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their Charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purFoses and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the Charity is legally entitled to it after any perfomiance conditions have been met, the amounts can be measured reliably, and it is probable that income wll be reived. Donations and gifts are recognised in the Statement of Financial Activtties ("SoFA") on receipt. Other donations are recognised once the Charity has been notified of the donation, unless perfomiance conditions require deferral of the amount. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. The charity benefits greatly from the involvement and enthusiastic support of its volunteers, details of which are given in our annual report. In accordance with the Charities SORP {FRS 102), the economic contribution of general volunteers is not recognised in the financial statements. 10-
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued) 1.5 Expenditure Expenditure, which includes attributable VAT which cannot be recovered, is recognised once there is a legal or constructive obligation to make a payment to a third party. it is probable that settlement will required and the amount of the obligation can be measured reliably. Charitable expenditure comprises those costs incurred by the charity in the deliverance of its activities and services for its beneficiaries. It includes both costs that can be directly allocated to such actimties and those costs of an indirect nature neSSary to support them. Govemance costs, included in support costs, indude those costs incurred in the govemance of the charity and its assets and are primarily associated with constitutional and statutory requirements and are alocated to charitable activities. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impaimient losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases= Long leasehold land and buildings Fixiures fittings and equipment Over the remaining life of the lease 250A Reducing Balan Tangible fixed assets costing more than £2,500 are capitalised. The gain or loss arising on the disposal of an asset is detemiined as the difference beeen the sale proceeds and the carrying value of the asset, and is credited or charged to the statement of financial activities. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-tem liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Financial instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charitys balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. wth the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 11
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid. Financial assets. other than those held at fair value through profft and loss. are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated fuiure cash flows have been affected. Any impairment loss is recognised in the income and expenditure account. Creditors, loans and provisions Creditors, loans and provisions are recognised where the charity has a present obligation resulting from a past evenl that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors, loans and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Financial liabilities are only derecognised when, and only when, the charity's obligations are discharged, cancelled or they expire. Amounts recognised as provisions are best estimates of the consideration required to settle the present obligation at the reporting end date. taking into account the risks and uncertainties surrounding the obligation. 1.9 Taxation Woodroyd Nursery and Children's Centre is a registered charity and as such is a charity within the meaning of schedule 6 of the Finance Act 2010. Accordingly, the Charity is potentially ents'tled to tax exemption under part 11 of the Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 in respect of income and gains arising. 1.10 Employee benefits The costs of short term employee benefits are recognised as a liability and an expense where settlement of obligations does not fall within the same period. 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects (lY that period, or in the period of the revision and future periods where the revision affects both current and future periods. After review the Trustees consider that there are no critical estimates and assumptions which have a significant risk of causing a material adjustment to the carying amount of assets and liabilities within the financial statements. 12-
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities 2024 2023 Nursery Education Fund 2 Year old offer Nursery fees 301,262 195,127 10,486 214,911 158,342 7,895 506,875 381,148 Analysis by fund: Unrestricted funds Restricted funds 311,748 195,127 222,806 158,342 506,875 381,148 13-
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities Childcare Govemance Total Childcare Governance 2024 Total 2023 2024 2024 2023 2023 staff costs Agency staff costs Consumables Premises costs Training Publicity & Printing Recruitment Professional fees 291,856 291,856 226,065 6,684 5,634 75,633 1,187 773 226,065 6,684 5,634 75,633 1,187 773 8,388 133,053 990 8,388 133,053 990 2,762 3,555 2,762 3.555 440,604 440.604 315,976 315,976 Share of support costs (see note 5) Share of governance costs (see note 5) 71,420 71,420 63,800 63,800 8,438 8,438 6,600 6,600 512,024 8,438 520,462 379,776 6,600 386,376 Analysis by fund Unrestricted funds Restricted funds 316,897 195,127 8.438 325.335 195.127 221,434 158,342 6,600 228.034 158.342 512,024 8.438 520.462 379,776 6,600 386.376 14-
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WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Net movement in funds 2024 2023 Net movement in funds is stated after chargingl(crediting) Depreciation of owned tangible fixed assets 12,755 13,638 Trustees One of the Trustees is also an employee of the charity and received remuneration during the year totalling £38,394 {including employers Nl and pension contribulions) (2023.. one trustee received £38,810). No Trustees received out of pocket expenses relating to reimbursed travel costs incurred on charity business in either the current or prior year. Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number 27 13 Employment costs 2024 2023 dges and salaries Social security Costs other pension costs 288,242 14,385 7,476 228,926 7,531 7,404 310,103 243,861 The totsl employee remunerats.on of the one (2023.. one) key management personnel of the charity was £38,394 {2023.' £38,810). There were no employees whose annual remuneration was more than £60,000. 16-
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Tangible fixed assets Long Fixtures leasehold land fittings and and buildings equipment Total Cost At 1 April 2023 987,654 259,113 1,246.767 At 31 March 2024 987,654 259,113 1,246,767 Depreciation and impaimient At 1 April 2023 Depreciation charged in the year 158,866 10,108 248,523 2,647 407,389 12,755 At 31 March 2024 168,974 251,170 420,144 Carrying amount At 31 March 2024 818,680 7,943 826,623 At 31 March 2023 828,788 10,589 839,377 10 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Prepayments and accrued income 1,667 4,478 1,667 5,084 6,145 6,751 11 Creditors: amounts falling due within one year 2024 2023 other taxation and social security Accruals and deferred income 2,079 35,912 1,681 20,287 37,991 21,968 17-
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Operating lease commitments At the reporting end date the Charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows= 2024 2023 Within one year Between two and five years 635 1,270 635 635 1.905 13 Restricted funds The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held for specffic purposes= Movement in funds Incoming Resources Balance at 31 resources expended March 2024 CUrnt year Balance at 1 April 2023 Capital Grant Bradford Early Years & Childcare Services- 2 Year Old offer 92.926 92.926 195,127 (195,127) 92,926 195,127 (195,127) 92,926 Purpose of restricted funds: The Capital Grant funding is towards the alterations and extension to the premises at the Nursery and Children's Centre. 2 Year Old Offer is to provide free nursery education for 2 year old children evidencing disadvantage. Movement in funds Incoming Resources Balance at 31 resources expended March 2023 Prior year Balance at 1 April 2022 Capital Grant Bradford Early Years & Childcare Services- 2 Year Old offer 92,926 92,926 158.342 (158,342) 92.926 158.342 (158.342) 92.926 18-
WOODROYD NURSERY AND CHILDRENS CENTRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Analysis of net assets between funds Unrestricted Restricted 2024 2024 Total 2024 Fund balances at 31 March 2024 a presented by: Tangible assets Net Current assets 733,697 332,080 92,926 826,623 332,080 1,065,777 92,926 1,158,703 Unrestricted Restricted 2023 2023 Total 2023 Fund balances at 31 March 2023 are represented by: Tangible assets Net current assets 746.451 307.824 92,926 839.377 307.824 1,054.275 92,926 1,147.201 15 Related paty transactions Other than the transactions disclosed in note 7 to the financial statements there are no other disclosable related party transactions. 16 Comparative Statement of Financial Activities Unrestricted Restricted funds funds Total 2023 Charitable activities Other trading activities - rental income 222,806 16,363 158,342 381,148 16,363 Total income 239,169 158,342 397,511 Ex enditure on: Charitable activities 228.034 158.342 386.376 Net expenditurefor the yearl net movement in funds 11,135 11,135 Fund balances at 1 April 2022 1.043.140 92.926 1,136.066 Fund balances at 31 March 2023 1,054,275 92,926 1,147,201 19-