Charity registration number 1156149 BENTLEY FEDERATION CHILDCARE SERVICES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
BENTLEY FEDERATION CHILDCARE SERVICES LEGAL AND ADMINISTRATIVE INFORMATION Truste83 MrMLee Ms K E Magner Mrs J Deeley-Brewer Mrs K Cooper Ms D Vaughan Ms A Holmes (Appointed 6 March 2024) Charity number 1156149 Independent examiner Christopher Hession C.A. Azzurri House Valsall Road Aldridge Walsall England WS9 ORB Y022 4LG
BENTLEY FEDERATION CHILDCARE SERVICES CONTENTS Page Twstees. report Independent examinerfs report Statement of financial a¢tiviti8S Balance sheet Notes to the financial statements 8-14
BENTLEY FEDERATION CHILDCARE SERVICES TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statemenls have been prèpared in a¢¢ordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's goveming document, the Charities Act 2011 and "A¢¢ounting and Reporting by Charities: Stat8ment of Recommended Practic£ appli¢able to ¢harities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" Objectives and a¢llvltles The principal object of the Charity is for the publi¢ benefit by providing child¢are for the developmenl and education of children in the Walsall area by: 1) Promoting children's care and safety 2} Promoting children's education and and promoting parental involvement 3} Promoting children's health and wellbeing 4) Providing services to support children and Iheir families and carers 5) Providing child care ServIS to enable parents and carers to take up or continue employment. In setting the Charitys policy and planning its actmties, the Truslees have given careful consideration to the Charity Commission's guidance on public benefrt. The Charity operates all chIld¢a and extended schools servi¢8s on behalf of the Benlley Federation. These services are primarily for children and families who attend either Bentley West Primary School and King Charles Primary School, bul other Servi users from the community are welcome. Our purpose built facilities are Ofsted registered and allow us to care for up to 249 d)ildren over trwo sites, up to the age of eleven. The centre is open from 7.30am to 6pm Monday to Friday, excluding Bank Holidays and staff training days. The trustees have paid due regard to guidance issued by the Charity Commission in decidlng what activities the Charity should undertake. Achlevements and perfomiance During the year ended 31 Mar¢h 2024 the Charity continued with the running of the Child Care Cenlre and dire¢lty employs a number of staff in management, child care and administrative roles. The Charity continues to generate income by the collection of fees from parents of children who attend the Centre. The majority of funding, going forward. will be via the govemment's free childcare initiatives for parents, which provides 15 or 30 hours a week of fre8 childcare to working parents. During the year ended 31 March 2024, the childcare centre was made aware that the federation beeen Bentley West Primary School, King Charles Primary School and the d)ildcar8 provision was to be dissolved on 1 June 2024. As a result, the childcare ¢entre had to apply for a new Ofsted registration, which came into effect on 28 March 2024. As a result of various Ofsted requirements, Ms Andria Holmes, the childcare Centre Manager, was appointed an unpaid Trustee of the chatity, so that she could take on the role of'Responsible Person,. Flnanclal review The Trustees are satisfied with the financial performance of the Charity throughout the year and exp8Cts this level to Continue. Despite the increaslng utility bills, running costs and the living wage, the nursery has remained sustainable, with higher than expected occupancy rates. It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level sufficient to operate at Its nomial operating scale for a period of two months to allow beneficiaries to access altemative provision should there be a shortfall in income. This level of reserves has been maintsined throughoLrt the year,
BENTLEY FEDERATION CHILDCARE SERVICES TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Charity will hold sufficient reserves to allow the winding up of its services, including all statutory payments including staff redundancies. Exduded for the Reserves Policy is incom8 associated wilh Endowment Funds and Donor Restricled Funds {Eamiarked Income). Therefore, in order to demonstrate transparency, accountability and sound financial manag8m8nt, the Charity's Reserves Policy clearly justifies the amount of reserves kept back each year. The Trustees have considered the risks in respect of expenditure. unrestricted income and. where appropriate. restricted income, and where funds can only be realised by the disposal of a fixed asset. Also taken into ¢onsideration are any extemal identified potential major risks to income and expenditure during the year under consideration. The Trustees have ass8ssed the major risks to which the d)arity is exposed, and a satisfied that systems are in place to mitigate exposure to the major risks. At the time of approving the finanal statements, the Trustees have a reasonable expectation that the Charity has adequate re$ourc8S to continue in operational existence for the foreseeable future. This the Trustees continue to adopt the going concern basis of accounting in preparing the Trustees, Annual Report Structure. govemance and management The charity is registered and conslituled as a Charitable Incorporated Organisation. The Charity was set up as a Charitable Incorporated Organisalion with a Foundation m¢)del constitution on 1 December 2013 and was registered with the Charities Commission on 12 March 2014 with number 1156149. The trustees who served during the year and up to the date of signature of the finanrAal statements 4ver8: MrMLee Ms WTamar Ms K Lister Ms K E Magner Mrs J Deeley-Brewer Mrs K Cooper Ms D Vaughan Ms A Holmes (Resigned 20 June 2023) (Resigned 1 March 2024) (Appoinled 6 March 2024) The managemenl of the Charity is the responsibility of the Trustees who are elected and coPted under the terms of the Charit$ constilution. There should be at least three Charity Trustees. If the number falls below the mlnimum, the remaining Trustees may act onty to call a meeting of the Charity Trustees, or appoint a new Charity Truslee. Apart from the first Charity Trustees, every Trustee must be appointed for a term of three years. In selecting individuals for appointment as Charity Trustees, The Charity Trustees must have regard to the skills, knowledge and experience needed for the eff@Gtive administration of the Charty. The Charity Trustees manage the affairs of the Charity.
BENTLEY FEDERATION CHILDCARE SERVICES TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The twstees, report was approved by tha Board of Trustèes. Mrs J Deel8y.Brewer Trustee
BENTLEY FEDERATION CHILDCARE SERVICES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BENTLEY FEDERATION CHILDCARE SERVICES I report to the trustèes on my examination of the financial slatements of Bentley Federation Childcare Services (the charity) for the year ended 31 March 2024. Responsibilities and basls of rèport A$ tho trusts8s of the charity you are rgsponsible for the preparation of the financial ststements in aGrdance wtth the requirements of the Charities Act 2011 (the 2011 Act). I report in respe¢t of my examination of the charity's financial statements carried out under Section 145 of the 2011 A¢t. In carylng out my examination I have followed all the applicable Directions given by the Charlty 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 confimi that l am quallfied to undertake the examlnation because l am a membér of the Institute of Chartered Accountants in England and Wales, which Is one of the listed bodl8S. Your attentlon is drawn to the fact that the charity has prepared financial ststements in accordance with Accounting and Reporting by Charlties preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) in praference to the Accountlng and Reporting by Charities: Ststement of Recommended Practice issued on 1 April 2005 which is referred to in the extsnt regulations but has now been withdrawn. l understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Acc8Pted Accounting PrartiGe eff8¢tyve for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confim) that no matters have come to my attentSon in connection with the examination giving me cause to believe that in any material respect: accounting records ware not kept in respect of the charity as required by section 130 of the 2011 Act; or the financlal ststements do not accord with those records., or the financial statements do not wrnply with the applieAble requir8ments conceming the form and content of accounts set out in th8 Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts giv8 a true and fair view which is not a matter Considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examinalion to whlch attention should be drawn in thls report in order to enable a proper understanding of the financial ststements lo be reached. 814 Pl Christopher Hession C.A. BK Plus Limited Azzurri House Walsall Road Aldridge Walsall WS9 ORB Dated: 4 October 2024
BENTLEY FEDERATION CHILDCARE SERVICES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestri¢ted Unrestricted funds funds 2024 2023 Notss In¢ome from: Donation5 and legacies Charitable activities 8.027 677,911 12.305 542,524 Total income 685,938 554.829 Expendlture on: Charitable activities 712.632 650,978 Total expenditure 712.632 650,978 Net expenditure and movomont In fund$ (26,694) (96,149) Reconelllatlon of funds: Fund balances at 1 April 2023 141,205 237,354 Fund balan¢e$ at 31 March 2024 114,511 141,205 The ststemenl of finanGial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
BENTLEY FEDERATION CHILDCARE SERVICES BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Flxed assots Tangible assets 10 1.170 1.518 Current ass•ts Debtors Cash at bank and in hand 11 42.727 93.327 24.708 237.247 136.054 261.9SS Creditors: amounts falllng due wlthln one year 12 (22.713) (122,2661 Not ¢urrent assèts 113,341 139,689 Total ae15 lesg curront Ilablllllos 114,511 141,205 Net assels ex¢ludlng pènslon Ilablllty 114.511 141.205 The funds of tho ¢harlty Unrestricted funds 114,511 141,205 114,511 141.205 25-9.24 The financial statéments weiè approved by the Irustees on ................. ..-.... Mrs J Deeley-Brewer Trustee
BENTLEY FEDERATION CHILDCARE SERVICES STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating a¢llvltles Cash absorbed by operations 16 {143,920) (15,650) Investing activitie5 Purchase of tangible fixed assets (349) Net cash usod in investlng actlvlties (349) Net cash used in financlng actlvities Net decrease in cash and cash equivalents (143.920) {15,999) Cash and cash equivalents at beginning of year 237,247 253,246 Cash and Cash equlvalents at end of year 93,327 237,247
BENTLEY FEDERATION CHILDCARE SERVICES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Chaiity information Bentley Federation Childcare servIs is a Charitable Incorporated Organisation. 1.1 Accounting convention The financial statements have been prepared in accordan with the charity's goveming document, the Charities Act 2011 and "Accounting and Reporting by Charilies: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" The charity is a Public Benefft Entity as d8fined by FRS 102. The ¢harity has taken advantage of the provisions in the SORP for charities applying FRS 102 Updale Bulletin 1 not to prepare a Slatement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historiol cost convention. The principal accounting policies adopted are set out below. 1.2 Going con¢em At the time of approving the financial statements, the trustees have a reasonable expectstion that the charity has adequate resources to continue in operational exi$ten¢8 for the foreseeable future, Thus the trustees continue to adopl the going Concern basis of accounting in preparing the financial statements. 1.3 Charltable funds unstriCted funds are available for use at the dis¢tIOn of the trustees in fvrtherance of their charitable objectives. Restrided fijnds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be mairrtained by the charity. 1A Income Income is reeognised when the charity is legalty entiued to tt after any perfomiance conditions have been met, the amounts can be measured reliabty, and it is probable that income will be received. Cash donations are recognised on re¢eipt. other donations are reGognised once the charity has been notified of the donation, unless perfonnance conditions require deferral of the amount. Inme tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at Ihe time of the donation. Legacies are recognised on ceipt or otheNiise if the charity has been notlfied of an impending distribution. the amount is known. and receipt is expected. If the amount is not known. the legacy is treated as a contingent asset.
BENTLEY FEDERATION CHILDCARE SERVICES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Aceountlng pollcies Icontlnued 1.5 Expenditure Expenditu is accounted for on an accruals basis and has been induded under expense categories that aggregate all costs for allocation to adivities. Where costs cannot be directly attribuled to particular activities they have been allocated on a basis consistent with the use of the resources. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at headquarters. Governance costs are those incurred in connection with adminislralion of the charity and compliance with constitutional and statutory requirements. 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 impairment 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- Fixtures and fittings 250A reducing balance The gain or loss arising on th8 disposal of an asset is detemiined as the dtfferen¢è betAveen the sale prooeds and the r2rrying value of the asset, and is r8cognised in the stalemenl of financial activities. 1.7 IMpalrnnt of fixed a$$ets At each reporting end dat8. the charty reviews the carrying amounts of its tangible assets to determine whether there is any indication that Ihose assets have suffered an impaimient loss. If any such indication exists, the recoverable amount of th8 asset is estimated in order to dètermine the extent of the impaimient loss (tf any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-lerm liquid investment5 Wlth original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilitie5. 1.9 Flnancial instruments The charity has elected to apply the provisions of Section 11 '8asic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financi81 instruments. Financial instruments are recognised in the charivs balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legalty enforceable right to set off the recognised amounts and there is an intention to settle on net basis or to realise the asset and setue the liability simultaneously. Basic financial assets Basic financial a5sels. which include debtots and cash and bank balances, are initially measured at transaclion price including transaction costs and are subsequently carried at amortised cost using th8 effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future reiptS discounted at a market rate of interest. Financial assets dassified as receivable within one year are not amortiS8d.
BENTLEY FEDERATION CHILDCARE SERVICES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢countlng poli¢les Icontlnued) Baslc financial liabilths Basic financial liabilities, induding creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instwment is measured at the present value of the future payments discounted at a market rale of interest. Finan¢ial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently ¢arTied at amortised cost, using Ihe effective interest rate method. Trade crediiors are obligations to pay for goods or serdices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities rf payment is due within one year or less. If not, they are presented as noTrcurrent liabilities. Trade ¢dItorS are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Dereeognftion oi finan¢ial Ilabllftles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee beneffts The cost of any unused holiday entitlement is regniSed in the period in bvhich the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.11 Retlrement benefits Payments to defined contribution retirement benefrt schemes are charged as an expense as they fall due. Critical a¢¢ounting estimates and Judgements In the application of the charity's accounting policies. the trustees are required to make judgements, ests'mates and assumptions about the carrying amount of assets and liabilities that are nol readily apparent from other sources. The estimates and asso¢iated assumptions are bas8d on hislori¢al 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 on90ing basis. Revisions to accounting estimates are recogni5ed in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donatlons, legacies and grants Unrnstricted Unrestricted funds funds 2024 2023 Donations and gifts Grants received 619 7,408 12,304 8,027 12,305 10-
BENTLEY FEDERATION CHILDCARE SERVICES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities 2024 2023 Childcare fees 677,911 542,524 Charitable a¢tlvltles 2024 2023 Staff costs Depreciation and impairment Resources and ¢onsumables Slalionery, printing and postage Computer software and running costs Repairs and maintenance Staff training Sundry expenses 474.004 345 24,420 390.098 423 26,104 2,582 2,332 1.277 5,825 3,882 1.007 1,943 5,058 510.793 428,515 Support costs (see nole) Governan¢e Costs 186.689 15,150 212,239 10.224 712,632 650,978 Su ort Costs Included in support costs is £181,879 (2023 - £208,340) in¢urred from Walsall Council in respect of provision of staff and h8at and light. Net movemont in funds 2024 2023 The net movement in funds is stated after chargingl{¢rediting): Depreciation of owned tangible fixed assets 345 423 Trustees None of the trustees (or any persons connected with them) reiVed any remuneration or benefrts from Ihe charity during the year, except for Ms A Holmes, who re¢eived remuneration for her role as childcare centre manager. During the year ended 31 Mar¢h 2024, Ms Holmes was paid a salary al market rate for her employment by the ¢harily as childcare centre manager. 11
BENTLEY FEDERATION CHILDCARE SERVICES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employee$ The average monthly number of employees during the year was.. 2024 Number 2023 Numbor 25 21 Employment costs 2024 2023 Wages and salaries Social security costs other pension costs 447,664 19,653 6,687 371,564 13,009 5.525 474,004 390,098 There were no employees whose annual remuneration was more than £60,000. Taxation The charity is exempt from taxation on its activits-es because all its income is applied for charitable purposes. 10 Tangible flxed assets Flxtum and tittings Cost At 1 April 2023 4,799 At 31 March 2024 4,799 Depreciation and impaimwnt At 1 April 2023 Depreciation charged in the year 3,284 345 At 31 March 2024 3,629 Carrying amount At 31 March 2024 1,170 At 31 March 2023 1,516 11 Debtors 2024 2023 Amounts falllng due within one year: Other debtors 42.727 24,708 12-
BENTLEY FEDERATION CHILDCARE SERVICES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Creditors: amounts falling due within one year 2024 2023 Other taxation and social security Other creditors Accruals and deferred income 6,271 11,318 5,124 4,822 113,340 4,104 22,713 122.266 13 Retirement beneflt schemes 2024 2023 Defined contribution 8¢hemes Charge to profit or loss in respe¢t of defined contribution schemes 6,687 5,525 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 14 Unrostricted fund$ The unrestricted funds of the charity Comprise the unexpended balances of donations and grants which are not subject to specific condilions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrèstricted funds by the trustees for specific purposes. At 1 April 2023 Incomlng Rosour¢o8 At 31 March re$ources expended 2024 General funds 141,205 685.938 (712,632) 114,511 Previous year. At 1 Aprfl 2022 Incoming Resources At 31 March resour¢e$ expended 2023 General fijnds 237.354 554,829 (650,978) 141,205 15 Related party transactions There were no disclosable related paty transactions during the year (2023 - none). 13-
BENTLEY FEDERATION CHILDCARE SERVICES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Cash generated from operdtlons 2024 2023 Defiut for the year (26,694) {96,149} Adjustments for.. Depreciation and impaimi8nt of tsngible fixed assets 345 423 Movements in working capital.. (Increase) in debtors (Decrease}fincrease in creditors (18,018) (99,553) (7,708) 87.784 Cash absorbed by operatlons (143,920) (15,650) 17 Analysis of changes in net funds The charity had no material debt during the year. 14-