Registered number: 09031159 Charlty number.. 1157145 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limitod by guarantee) UNAUDITED GOVERNORS, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
THE NORWEGIAN KINDERGARTEN IN LONDON IA Gompany Ilmlted by guarant•èl CONTENTS Page Reference and admini5tratlve details of the company. its Govornors and advisers Governors. report Indepondent tsxamSnerf¥ report Statement of financlal activiti09 Balance 8heet Statement of cash flows 10 Notès to tho finanelal gtatgmAnts
THE NORWEGIAN KINDERGARTEN IN LONDON IA Company limited by guarantee) GOVERNORS. REPORT FOR THE YEAR ENDED 310ECEMBER 2021 The Governors (who are also directors of the charity for the purposes of the Companies Acll present their annual report together with the financial slalemenls of The Noe918n Kindergarten in London I'lhe Kindergarten, or'NK'I for the year ended 31 December 2021. The Governors confirm that the annual report and finanGial statements of Ihe wmpany Eotnply wrth the Chaiitie5 Act 2011, the Companles Aci 2006. the requirements of the governing documents and Accounting and Reporting by Charities.. Slalement ol Recommended Practice ISORPI applicable to charities preparing their accounts in accordance with the Fin8ncig1 Reporting Stgndgrd 8pplie8ble in the UK and Republie of Ireland IFRS 1021 {offectiva 1 January 20191. CONSTITUTION AND OBJECTS The Norwegian Kinderg8rten in London was esl8blished on 8 May 2014 as a private company limited by guarantee {Company Number.. 90311591 and registered as a charily {Regislered Number.. 1157145). It is 90verned by its Memoiandum and ArtIGles of Association. The Kindetyarteii op¥iieil ui) 1 Auyubl 2014. The pfincipal object of the charity is lo promote the education of Norwegianlscandinavian children aged hpfvlppn 2 fj_fj y•ar8 in thp Ilnitpd Kingdnm STRUCTURE, GOVERNANCE AND MANAGEMENT The Norwegian Kindergarten in London is an English Independent School for children aged 2.5-5. Under special circumstances a child may be admilled earlier. subject to available places. in¢6 veptember 2015 tho board ha8 4 Goverf)or8 who are also Directors of The Norwegian Kindergarten in London. The Board had five meetings thi5 year. The Kindergarten is financed solely from fees. Policy is elermined by the Governors and is carfied out by the Head Teacher. The Deputy Head Teacher assists the Head Teacher in the day lo day management of Ihe Kindergarten's academie and non academic malters. BOARD OF GOVERNORS None ol the Governors receive<s any femuneration or reimbursement (Juring the year. The Governors are charity Iruslees. as well as directors and members of the company. Nominations are made followin9 d1Csl0n5 between existing Governo and the Hcad Tcacher and takc into account the individu81'8 connections with the Kindergarten. competence, specialist skills and local availabilrty. The Governing Board requires breadth and depth of experience lo carry ovt ils dulles effectively and efficiently. REVIEW OF ACTIVITIES The Norwegian authorities ruled that the Kindergarten could no longer be part of The Norwegian School in London Llmlted and so on 1 August 2014 The Norwegian Kindergarten In London was sei up as a separate legal enlity. Existing pupils and staff were translerred lo the new entity from 1 August 2014. The Norwagisn Kindorosrtan in London providas Nursery School Education for NOO913n/sc&ndlfisYiQn speaking children aged 2.5 10 5 al ils Premises in Wimbledon. following the Norwegian cijrriculum. English speaking staff in the Nursery groups provide a bilingual approach lo leaching. The Kinderoarten aims lo be "The natural choice for Norwegianlscandinavian families in London" For the Kindergarten year starting Augusl 2020, the Kindergarten had 4 full or part time employees and for the KindeTgarten year starting August 2021 the Kindergarten had 4 full or part lime employees. In January 2021 16 children attended the Kindergarten and in August 2021 14 children allended the Kindergarten. Page 2
THE NORWEGIAN KINDERGARTEN IN LONDON {A company limit•d by guarante•} REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS GOVERNORS AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021 Governors N .%olpnd. Chair E Jones M Koppernaes Iresigned 17 March 20211 T Rakkp.n lappaintpd 17 March 20211 E Auslvoll lappoinled 28 January 20221 S-l Field (resigned 2 June 20211 Company registered number 09031159 Charity reglstered number 1157145 Reglstered offlce 28 Arterberry Road Wimbledon London SW20 8AH Chief executlve officer M Tale Accountants James Cowper Kreslon Chartered Accountants and Slalutory Audi(or 2 ComtnuniLcJtioiib Rulltl Greenham 8usiness Park Greenham Newbury RG19 6A8 Page 1
THE NORWEGIAN KINDERGARTEN IN LONDON IA company limited by guarantee) OOVERNOR8' REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Thp Kindp.roArtpn pmvidp. a ma¥imiim of 24 hoiirs per week inrlLidino brpgk timp and liineh Opèning hoiir# are". Mondays Thursdays from 8..30 until 15.'30 and Ffidays 8..30 until 14'.30. The Kindergarten has the same holidays as The Norwegian School. At the start of each academic year the Head Teacher sends inlomialion about the plans for the Kindergarten's main activities lo the parents, and this is followed up by weekly newslellers. The parents also receive information during the year about changes in the curriculum and other policy related mallers. The teachers follow agreements sel out in the Employee Handbook. The kindergarten staff have regular planning and strategy meetings. Usually there are also five Inset Days per yeai, during which staff trainin9 takes place. RISK ASSESSMENT The Norwegian Kindergarten in London regularly assesses and reviews risks lo 11$ operalions and has introduced a formal programme of risk idenlificalion, prioritisalion and miligalion. The physical representation lo the Governors is in the fomi of a risk register which is updated regularly. The major risk highlighted on risk register is 8 drop in pupil numbers this is particularly relevant during this pandemic due lo covid-19 and the impact of Brexit. The governors are constantly reviewing the situation and costs will bc cut whefe ever possible. The governors and leaders of the Kindelgarten have pul in pla procedures lo try reduce Ihis risk.. Improvements lo marketing.. The kindergarten built a new webpage and has a new logo. Lower the minimum pupil.. age lo 2.5 years. Promote a separate part-lime group 'Little Viking's. for local children with an outdoor approach, following the Norwegian framewoik. PLANS FOR THE FUTURE The future priorities are sel out as follows,. 11 Teaching.. NK aims lo ensure a high quality leaching by employing excellent teachers and assistants and raising the level of their competency. 2} Personal Development and Social Skills.. NK aims to ensure a safo gnd supportive lèarning environment caring for all childrèn, ineluding childran with individual abilities and needs. NK will ensure that staff have the appropiiale qualifications and training lo cater ftir the academic and social welfare and development of all children, whether they are resident in London for a shorter or longer period. 31 Organi5ation". NK shall be managed so that staff, facililies and resouiees are used optimally and in accordance with applir2blg12w and rpoiJlAlinns Hg.8lth and Safely standgrdg shall bè obgètvéd at all times. NK will emphasise the development and implementation of Health and Safely policies and procedures. NK will improve branding and marketing lo ensure future recruilmenl of pupils. NK will adjust the number of classes accordingly lo the number of pupils. Page 3
THE NORWEGIAN KINDERGARTEN IN LONDON IA company limited by guaranteè) GOVERNORS. REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021 GOING CONCERN After evaluating the extfaoTdinary expenses due to employee matemty leave, a pending employee settlement and the impact of the covid-19 pandemic on our pipeline the Governors have carefully considered our current resources. We conclud¢ that 3hould cnrolmcnt pick up as expected over thè nsxt S months we shou1LI have enough resources to continue in operational existence. For this reason they continue lo adopt the going concern basis in prepanng the financial statements. ACHIEVEMENTS AND PERFORMANCE In May 2018 the Kindergarten wa8 identified as a good school, following an inspection by Ofsled. The results from using observations are used in further planning and setting goals for the pupils. We facilitate learning through play and social interaction. During the year the staff completed courses lo keep within the Ofsled requirements. In Spring 2021 one member of staff allended the course 'A holi51ic approach lo languag& development, and another member of staff attended the course 'Exploring the Curiosity AppToach'. In Autumn 2021 three members of staff allended an in house Fire Safely Training. One staff member renewed her basic Safeguarding for children in the Early Years and another staff renewed a SENCO refresher training. A new member of staff completed Designated Safeguarding Lead 1 and Designated Safeguarding Lead 2. Also, during the Autumn term three members of Staff atiencsed a Paedlatrlc 12 hou15 first Aid bourse. The Kindergarten appreciates ils responsibility to minimise ils impact on the environment and implements sch8mg$ such a$ walking lo school. to rpdiJc.A thg KindÈroarten's negative footprint on the environment. PUBLIC BENEFIT The Governors have given careful consideration lo the Charity Commission's general 9uidance on putilic benefit and in particular lo ils supplementary public benefit guidance on advancing education and on fee charging. The provision of public benefit main5y caters for Norwegianlscandinavian citizens in the local area. As a main rule all Iiildreii take part in sGh¢)ol trip5, excur8ion8, visit3 to theatrc- at no cxtra charge. Milk 1$ provided freg of chargo for lunch. The Nnnpj1an Kindergarten welcomes pupils trom all backgrounds and nationalities. Additional public benefits include.. Providing facilities for families for birthday parties and othèr oceasions and celebrations. Providing aceess lor children and families to Ihe School grounds- playground anij tennis Gourt- vultside school hours al no charge. The Kindergarten participates in fundraising for Comic Relief. Children in Need and Chfislmas Jumper day (Save the Children Fundl and other ¢harity evonts. The Kindergarten visits a neighbouring inslilulions for senior citizens. REMUNERATION OF KEY PERSONNEL The Governors ore responsible for selling the pay and remuneration of key managemenl personnel. Remuneration is set once certain factors are considered. These factors include market rates of pay and ben¢hmarKS againsr salaries in Norway. FINANCIAL REVIEW Finances have been closely monitored this year bul despite this there was a deficit of £28,872 which will be taken from the reserves. The amounl of resetves al the end of 2021 was £52,005. This is partly due lo having a member of staff on malernity leave and with the pandemic still being prevalent the numbers were down throughout the year. P89e 4
THE NORWEGIAN KINDERGARTEN IN LONDON IA company limited by guaranteel GOVERNORa' REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 RESERVES POLICY The Governors understand the need lor cash reserves so the Kindergarten can continue lo operate for the foreseeable future. Approved by ordei of the members of the board of Governors and sioned on their behalf bv.. N Sole Truste Date.. Page S
THE NORWEGIAN KINDERGARTEN IN LONDON IA company Ilmited by guoranteel INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Indopgnd•nt Examlnorfs Rèport tn the Governors of The Norwegian Klndergarten In London {'the Company'l I rg.pnrt to the charity Governors on my examination of the accounts of the company for the year ended 31 Dember 2021. Responslbllltles and 8asls of Report As the Governors of the company land ils directors for the purposes of company lawl you are responsible for the pieparalion of the accounts in accordance wjth the requirements ol the Companies Act 20061 the 2006 Acl'l. Having satisfied myself that the 8ccounls of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report In iespeGt vf rFIy Exdiiiiiialioii of the Gompanls a¢counls carried out under section 145 of the Charities Act 20111'lhe 2011 Acl'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Indopendent ExamlneT'S Statement I have Gompl¢te¢J Iiiy exainination. l Confirm that no m8tteryd hav¢ come to my 2ttantion in eonnection with the examination giving me cause lo believe-. acGOUnting r¢cords wcrc not kept in rgSP8et of tho company as reqiiired by qg.Ctinn If16 01 the 2006 Act.. or the accounts do not accord with those records., or tne accounts do not comply with thE ¢aGbuuiiling requirements of section 398 of the 2006 h¢t other than any requirement that the accounts give a 'lrue and fairf view which is not a mattel considered as part of an independent examination., or the accounts have not beEii prepared in accordance with the methods and principles of thg Statemant of Recommended Practice for accounting and reporting by charities lapplicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iroland {FRS 10211. I have no Concerns and have come across no other mallers in conrieclion with the examination to which attention should be drawn in this rcport in order to ansblo a proper undorstandinu of Ihft arcounts lo be reached. Thi3 report is made solely to th• companls Governors. 8$ a hndy. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale lo the compariy's Governors those matters l am required lo slate lo them in an Independent examinerfs report and for no olhei purpose. To the lullesl extent pemiilled by law, I do not accept or assume responsibility lo anyone other than the company and the company's Governors a5 2 body. for my work or for this report. P8ge 6
THE NORWEGIAN KINDERGARTEN IN LONDON IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Signed.. Michael Farwell MA FCA DChA Far.dl Dated.. 2710512022 James Cowper Kreston Chartered Accounlanls and Slalulory Auditor 2 Communications Road Greenham Business Park Greenham Newbury RG19 6AB Page 7
THE NORWEGIAN KINDERGARTEN IN LONDON IA Goinpany Ilmited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOMF. AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2021 Unrestricted funds 2021 Total funds 2021 Tolal funds 2020 Noio Income from.. Charitable activrties.. Fees receivablg Othef income 174,835 8,683 174,835 8,683 177,608 21,785 183.518 183.518 199,393 Total income Expendlture on.. Charilable a¢livilies'. £t8ff costs 171,949 3,201 20,942 13.088 210 3,000 171,949 3,201 20,942 13.088 210 3.000 156,646 3.028 20,863 14.684 164 3,252 Educational supplies Eslablishmenl costs Other operating cosis Finance costs Governance 212,390 212,390 198.637 Total expenditure Nel lexpendlturelllncome 128,8721 128.8721 756 {28.8721 128.8721 756 Nèt movement in fund$ Reconciliation of funds: Total funds brought forward Nel movement in funds 80,877 128.8721 80,877 128,8721 80.121 756 52,005 52,005 80,877 Total funds Carrled forward The Statement of Financial Activities includes all gains and losses reeognised in the year. The notes on p8ges 1110 19 form part of these financial statements. Page 8
THE NORWEGIAN KINDERGARTEN IN LONDON IA company Ilmlted by guarantee) REGISTERED NUMBER.. 09031159 BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Note Flxed assets Tangible assets 1.716 2,524 1.716 2,S24 Current assets Debtors Cash al bank and in hand 2,366 79,284 2.768 137,364 81.650 140,132 Current liabilities 10 131.3611 161,7791 Nel curront assets 50,289 78,353 Total net assets S2,005 80.877 Charity funds Unreslflcted funds 11 52,005 80,877 Total funds 52,005 80,877 The company was entitled lo exemption ffom audil under section 477 of the Companies Act 2006. The members have not required the company lo obtain an audit for the year in question in aceordanee with section 476 of Companies Act 2006. The Governors acknowledge their responsibilities for complying with the requirements of the Act with respe¢l to a¢counting rocords and preparation of financial 8talement8. The financial slalemenls have been prepared in accordance with the provisions applicable lo entities subject lo the small companies regime. The financial slalemenls were approved and aulhorised for issue by the Governors and signed on their behalf by.. Trustee Dale.. £LI i The notes on pages 11 to 19 form part of these financial slalemenls. Page 9
THE NORWEGIAN KINDERGARTEN IN LONDON IA company Ilmlt¢d by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 Note Cash flows from operatlng acllvities Nel cash used in operatin9 activities {68,0801 22,871 Cash flows from invest5ng actlvlties Purchase ol tangible fixed assets 11,8791 Net Cash provided byllu6¢d inl invègting actlvlti•s 11.879) Chang9 In cash and cash •quivalent$ In the y•ar Cash and cash equivalents al the beginning of the y&ar IS8.0801 137,364 20.992 116.372 Cash and cash equlvalents at tho end of the year 14 79,284 1Jl,J64 The not•s on PAges 11 to 19 form part ol these fingnei81 stAlp.mAnt8 Page 10
THE NORWEGIAN KINDERGARTEN IN LONDON IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 General information The enlily is a charitable company limited by guarantee, incorporated in the United Kingdom and registered in England and Wales. Its fegislered address can be found on page 1. The members of the company are the Governors named on page 1. In the event of the company being wound up. the liability in fespecl of the guarantee is limited to £10 per member ol the company. Accountlng pollcles 2.1 Basls of pr•p4ration of financial 8tatomonts The financial slalemenls have been prepared in accordance with the Charrties SORP IFRS 1021 Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable to charities pieparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reportin9 Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The Norwegian Kindergarten in London meets the definition of a public benefit enlily under FRS 102. Assets and liabilities are initially reeognised al historical cost or transaction value unless otherwise statèd in the relevant accounting policy. 2.2 Going concern After evalualing the exiraordinary expenses due lo employeo maternity leave, a pending employee selllemenl and the impact of the covid-19 pandemic on our pipeline the Governors have carefully considered our current resources We conclude that should enrolmenl pick up as expected over the next a months we Should have enough iesouices to Goiitinue iii operalioiial exislviiG¥. Foi tliis reason they continue to adopt the going concern basis in preparing the financial slalemenls. 2.3 Incom All income 15 reco9nised once the company has enlillemenl to the income, il is probable that the income will be received and the amount of incolne recewable can be measured reliably. Fees relating to the next financial year are carried forward as deferred income. 2.4 Expenditur¢ Expenditure is recognised once there is a legal or conslru¢live obligation lo transfer economic benefrt lo a third party, il is probable that a transfer of eeonomic benefrts will be fequired in settlement and the amount of the obligation can be measured reliably. Expendrture has been allocated between direct charitable and management and adminislralion costs according to the nature ot the work pertormed. Direct charilable expenditure comprises all costs directly attributable lo the provision of services in pursuance of the charitable objectives and policies. All expenditure 18 accounted for under the accruals concept. Charitable activities and Governance costs are costs incurred on the Company's educational operations, including support costs and costs relating to the governance of the company apportioned lo charitable activities. All expendlture Is Inclusive of irrecoverable VAT. Page 11
THE NORWEGIAN KINDERGARTEN IN LONDON IA Gompany Ilmlted by guarant¥el NOTES TO THE FINANCIAL STATF_MENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Aeeountlng ptsllel•s Icontlnijèd) 2.5 Tangiblg fixed assets and depreciation Tangible fixed assets are ini11811y lecognised at cost. After recognition. under the cost model. tangible fixed assets are measured al cost less 8¢¢umulaled depreciation and any aecumul8led impairment losses. All costs incurred lo bring a tangible fixed asset into ils intended working condition snould be included In the measurement of w31. Depreciation is charged so as to allocate the co$1 of tangible fixed assets less their residual value over thcir ¢stimated useful lives. Depreciation 1$ provided on the following bases.. FixtUTes and fillings Computer equipment 20Vo and 33'/ts reducing balance 33% reducing balance 2.6 Debtors Prepayments are valued at the amount prepaid nel of any trade discounts due. 2.7 Cash at bank and in hand Cash al bank and in hand includes cash and short-lerm highly liquid investments with a short malurily of three months or less from the dale of acquisition or opening ol Ihe (Jeposit or slmllar account. 2.8 Ltablllllo$ and provl•lons Liabilities are recognised when there is an obligation al the balance sheet dale as a result of a past 8vftnt. it is probable that a transfer of economic benefit will be reouired in setllemenl, and the amount of the selllemenl can be eslimaled reliably. Liabili(ies are recognised al the amount that the company anlicipales it will pay to settle the debt or the amounl il has received as advanced payments for ihe goo(Ss or setviGes It ITiu¥I yiuvide. 2.9 Forèlgn currencies Monetary assets and liabilities denominated in foreign curreneies are translated into sterling al rates of exehange ruling al the balance sheet dale. Transactions in foreign cuirencies are translated into sterling al the rale rulino on the date of the Irans8clion. Exchange 9ains and losses are recognised in the Slalemenl ol financial activities incorporating income and expenditure account. 2.10 Penslons The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company lo the fund in respect of the year. 2.11 Fund accounting General funds are unreslricled funds which are available for use al the discretion of the Governors in furtherance of the general objectives of the company and which have not been designated tor other purposes. Page 12
THE NORWEGIAN KINDERGARTEN IN LONDON {A company limited by guaranteg) NQTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accouiiliiig pollclos (Goiitliiuedl 2.12 Critical accounting estlmates and areas of Judgement Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations ol future events that are believed to be reasonable under the circumstances. Critic81 accounting estimates and assumptions.. The company makes estimates and assumptions Conrning the tulure. I he resulling accounting estimates and assumptions will, by definition. seldom equal the related actual results. Other income Unrestrictod funds 2021 Total funds 2021 Total funds 2020 CJRS grant Olher inGonie 8,402 281 8,402 281 20,874 911 Totsl 2021 8,683 8.683 21,785 Total 2020 21.785 21,785 Governance costs Unrèstricted funds 2021 Total funds 2021 Total funds 2020 Independent examiner's fees Independent examiner's fees- non-examination 2,000 1,000 2,000 1,000 1,930 1,322 Total 2021 3,000 3.000 3.252 Page 13
THE NORWEGIAN KINDERGARTEN IN LONDON IA Gompany Ilmltod by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Indepgndent examlnerfs remuner8tlon 2021 2020 Fees payable to the company's independent examiner for the independent examination of the company's annual accounts F¢¢s payable to the ¢omp8ny'3 independont cxaminer in respect of.. All other seNices not incltjded above 2,000 1,930 5,877 6,268 Staff costs 2021 2020 Wages and salaiies Social security costs Contribution lo defined contribution pension schemes 147.779 11.639 12.531 135,917 10.082 10,647 171.949 156.846 The average number of persons employed by the company during the year was as follows.. 2021 No. 2020 No. No employee received remuneration amounting lo more than £60,000 in either year. The key management personnel of The Norwegian Kindergarten in London comprise governors, the head teacher and the deputy head teacher. The lolal employee benefits of the key management pe¥sonnel was £103,869 {2020.. £114,355}. Governors. remuneratlon and ¢xpenses The members of the Board of Govemors are regarded as directors for the purposes of the Companies Act 2006. During the year, no Govefnors received any remuneration or other benelils {2020- £NILI. Duiing the year ended 31 December 2021. no Govemor expenses have been incurred12020- £NILI. Page 14
THE NORWEGIAN KINDERGARTEN IN LONDON {A company Ilmited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Tangibl8 tix•d ass•ts Fixtures and Computer equlpriieiit Total Cost or valuatlon Al 1 January 2021 1.749 3.178 4,927 At 31 December 2021 1.749 3.178 4,927 Dopreclatlon Al 1 January 2021 Chaige for the year 1.267 100 1,136 708 2,403 808 Al 31 December 2021 1,367 1,844 3.211 Net book value Al 31 Docgmbor 2021 382 1.334 1,718 Al 31 December 2020 482 2,042 2,524 Debtors 2021 2020 Due wllhin one year Prepayments and accrued income 2.366 2.768 10. Crodltor8- Amounts falling due withln ono year 2021 2020 Trade creditors Other laxalion and social security Other creditors Accruals and deferred income 723 4.OS7 1.043 25.538 2,789 3,544 1.043 54.403 31,361 61,779 Page15
THE NORWEGIAN KINDERGARTEN IN LONDON IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 10. Credltors: Amounts falling due wlthin one year {continuedl 2021 2020 2021 2020 Deferred income al 1 January 2021 Resources deferred during the year Amounts released from previous periods 52.003 23.138 152,003) 27.103 52.003 127.1031 23,138 52,003 11. ststement of funds Statement ol funds- current year Balancg at 31 Docember 2021 Balance at 1 January 2021 Income Expenditure Unrestrlcted fund$ General Funds 80,877 183.518 1212.3901 52,005 Stat¢ment of funds - prlor year Balance al 31 December 2020 B818nce gt 1 January 2020 Income Expenditure Unrestrlcted funds General Funds 80,121 199,393 {198,6371 80,877 Page 16
THE NORWEGIAN KINDERGARTEN IN LONDON IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2021 12. Analysls of nèt assets bgtwo8n funds Analysis of n&t assets between funds - current year Unrestricted fund$ 2021 Total fund$ 2021 Tangible fixed assets Current assets Creditors dL+e within one yeaf 1,716 61,050 (31,361) 1,716 81,650 131,3611 Total 52.005 52,005 Analysis of net assets between funds . Prior year Unre=tricted funds 2020 Total funds 2020 Tangible fixed assets Current assets Creditors due within one year 2,524 140,132 161.7791 2,524 140,132 161,7791 Total 80,877 80.877 13. Reconclllatlon of net movement in funds to net cash flow from oporating activities 2021 2020 Nel incomelexpendilure for the year las per Slalemenl of Financial Aclivilies} 128,8721 756 Adjuslments for: ng.precigtion charges Decreasellincreasel in debtors IDecreaselllncrease in creditors 809 363 {7801 22,532 401 {30.4181 Net cash provided byllused inl operating activitles 158,0801 22.871 Page 17
THE NORWEGIAN KINDERGARTEN IN LONDON IA Gompany Ilmited by guaranto•} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 14. Analysls of cash and cash equlvalents 2021 2020 Cash in hand 79,284 137.364 Total cash and cash equivalents 79,284 137,364 15. Analysis of changes in nèt defjt Al1 January 2021 Cash flows At31 December 2021 Cash al bank and in hand 137,364 158,0801 79,284 16. Pension commltments The charity operates a defined contributions pension scheme for ils employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension r.ost rharoè rèpresents contributions payable by the charity to the fund and amounted lo £12.53112020 £10.647}. Contributions lolalling £1,043 {2020'. £1,043) were payable at the balance sheet dale. 17. Operating lease commitments At 31 December 2021 the company had commilmenls lo make future minimum lease payments under DOn-ncelIable opcrating leases as follows.. 2021 2020 Not later than 1 year Later than 1 year and not later than 5 years Later than S years 20,08S 80.340 353.151 20,085 80.340 JC3,246 453,586 473,671 The following lease payments have been recognised as an expense in the Statement of financial activities.. 2021 2020 Operating lease payments 20.085 20,085 Page 18
THE NORWEGIAN KINDERGARTEN IN LONDON IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 18. Related party transactlons A number of Governors have children who attend the Norwegian Kindergarten in London and nursery fees are charged in accordance with the nursery charging policy. There were no other related party transactions in the year. 19. Controlllng party In the opinion of the Governors. there is no controlling paty. Page 19