VrbJJkgun*urvTrarwoCbc Ref. 89QLk3NJB-X6PV30 Mw>)23 19..22..16 BST (UTC +110 111 P 1$ Registered number: 09031159 Charity number: 1157145 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) UNAUDITED GOVERNORS. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
VrbJJkgun*urvTrarwoCbc Ref. 89QLk3NJB-X6PV30 Mw>)23 19..22..16 BST (UTC +110 111 P2120 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) CONTENTS Page Roference and administralive details of tho company. its Govfrrnors and advisors Govomors. report Independent exarninerfs report Statement of financial activities Balance sheet Statement of cash flows Notes to the financial statements 10-18
VrbJJkgun*urvTrarwoCbc Ref. 89QLk3NJB-X6PV30 Mw>)23 19..22..16 BST (UTC +110 111 P3120 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS GOVERNORS AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022 Governors E Austvoll lappoinled 28 January 2022. appointed chair 24 May 2022) N Solend (resigned 21 June 20221 E Jones T Bakken F Ellekjaer lapwinted 24 May 20221 Company registered number 09031159 Charity registered number 1157145 Registered office 28 Arterbery Road Wimbledon London SW20 8AH Chief executive officer M Tate AcutantS James Cowper Kreston Audit Chartered Accountants George Street Reading Berkshire RG18LS Page 1
VrbJJkgun*urvTrarwoCbc Ref. 89QLk3NJB-X6PV30 Mw>)23 19..22..16 BST (UTC +110 111 P4r20 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) GOVERNORS. REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The Govemors (who are also directors of the charity for the purposes of the Companies Act) present their annual report together Mfjlh the financial statements of The NoNegian Kindergarten in London I'the Kindergarten. or 'NK') for the year ended 31 December 2022. The Govemors confirm that the annual report and financial statements of the company comply wth the Charities Act 2011. the Companies Act 2006. the requirements of the goveming documents and Accounting and Reporting by Charities" Statement of Reo)mmended Practice {SORPI applicable to charitie5 preparing their accounts in accordan the Financial Reporting Standard applicable in the UK and RepubliG of Ireland {FRS 1021 leffeGlive 1 January 2015). CONSTITUTION AND OBJECTS The Norwegian Kindergarten in London was established on 8 May 2014 as a private company limited by guarantee (Company Number.. 90311591 and registered as a charity {Registered Number.. 11571451- It is governed by its Memorandum and Artides of Association. The Kindergarten opened on 1 August 2014. The principal object of the charity is to promote the education of Norwegianlscandinavian children aged beeen 2 5 years in the United Kingdom. STRUCTURE. GOVERNANCE AND MANAGEMENT The NOegIan Kindergarten in London is an English Independent School for children aged 2-5. Since September 2015 the board has 4 Govemors Md)0 are also Directors of The NonNegian lfjndergarten in London. The Board had five meetings this year. The Kindergarten is financed 501ely from fee5. Policy is determined by the Govemors and is carried out by the Head Teacher. The Deputy Head Teacher a551Sts the Head Teacher in the day to day management of the Kindergarten's academic and non academic matters. BOARD OF GOVERNORS None of the Govemors received any remuneration or reimbursement during the year. The Governors are charty trustees, as well as directors and members of the company. Nominations are made followng discussions betrween existing Governors and the Head Teacher and take into account the individual's conneckn.ons with the Kindergarten, competence, specialist skills and local availability. The Goveming Board requires breadth and depth of experience to cary out ils duties effecb.vely and efficienuy. REVIEW OF ACTIVITIES The Nor4vegian aulhorilies ruled that the Kindergarten could no longer be part of The NOegian School in London Limited and so on 1 August 2014 The Norwegian Kindergarten in London was set up as a separate legal entity. Existing pupils and staff were transferred to the new entsty from 1 August 2014. The Norwegian Kindergarten in London provide5 Nursery School Education for NopNegianlScarKlinavian speaking children aged 2 to 5 at its premises in Wimbledon, followng the NopNegian curriculum. The Kindergarten aims to be "The natural choice for NorwegianlScarKlinavian families in London" For the Kindergarten year starting August 2021. the Kindergarten had 4 full or part time employees and for the Kindergarten year starting August 2022 the knndergarten had 4 full or part time employees. In January 2022 15 children attended the Kindergarten and in August 2022 16 children attended the Kindergarten. Page 2
VrbJJkgun*urvTrarwoCbc Ref. 89QLk3NJB-X6PV30 Mw>)23 19..22..16 BST (UTC +110 111 P5r20 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 The Kindergarten provides 34 hours per week incILing break time and lunch. Opening core hours are.. Mondays Thursdays from 8..30 until 15.'30 and Fridays 8..30 until 14'.30. The kindergarten also offer earty drop off from 8am and late pick to 4pm (except Fridays) to an additional cost The Kindergarten has the same holidays as The NopNegian School_ Al the start of each academic year the Head Teacher sends information akx)ut the plans for the Kindergarten's main activities to the parents, and this is followed up by weekly newsletters_ The parents also receive information during the year about changes in the curriculum and other policy related matters. The teachers follow agreements set out in the Employee Handbook_ The kindergarten staff have regular planning and strategy meetings. Usually there are also five Inset Days year, during which staff training tskes place. RISK ASSESSMENT The Nopwegian Kindergarten in London regularty assesses and reviews risks lo its operations and has introduced a formal programme of risk identification, priorilisalion and mitigation. The physical representation to the Govemors is in the form of a risk register which is updated regularly. The major risk highlighted on the risk register is a drop in pupil numbers this is particularly relevant due to the impact of Brextt. The govemors are constanlly reviewng the situation and costs wll be cut where ever possible. The governors and leaders of the Kindergarten have put in place procedures to ty to reduce this risk: Improvements to marketing: The lQndergarten built a new webpage and has a new logo. Lower the minimum pupil age lo 2 years. Promote a hybrid group for local children with an outdoor approach. follong the Norwegian framework. PLANS FOR THE FUTURE The fijlure priorities are set out as follows: 1) Teaching- NK aims to 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 safe and supportive learning environment caring for all children, including children wrth individual abilities and needs. NK will ensure that staff have the appropriate qualifications and trainirKJ to cater for the academic and social welfare and development of all children, whether they are resident in London for a shorter or longer pefic%l. 3) Organisation: NK shall be managed so that staff, facilities and resources are used optimally and in accordance with applicable laws and regulations. Health and Safety standards shall be obsetved at all times. NK wll emphasise the development and implementation of Health and Safely pdicies and procedures. NK will improve branding and marketing to ensure future recruitment of pupils. NK will adjust the number of classes accordingly to the number of pupils. Page 3
VrbJJkgun*urvTrarwoCbc Ref. 89QLk3NJB-X6PV30 Mw>)23 19..22..16 BST (UTC +110 111 P6120 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 GOING CONCERN We conclude that should our enrolmenl level continue as expected, we should have enough resources to continue in operational existence. For this reason, they continue to adopt the going concern basis in preparing the financial statements. ACHIEVEMENTS AND PERFORMANCE In October 2022 the Kindergarten was idenlrfied as a gcod schoc4. following an inspection by Ofsted. The results from using obsetvations are used in further planning and setting goals for the pupils. We facilitate leaming through play and social interaction. During the year the stsff completed courses to keep'within the Ofsted requirements. In Spring 2022 one member of staff attended a Designated Safeguarding Lead Refresher course. In Autumn 2022 all staff completed on-line trairing courses., Prevent and Female Genital Mutilation. A new member of staff completed a basic Safeguarding for children in the Earfy Years and a SENCO training course. Another staff attended an introduction to the three I's- Intend, implementation and impact. Two members of staff also attended a lecture by Tina Bruce ICBE)- The Educational value of children at play. One of the governors completed a Designated Safeguarding Lead 2 (Safe premises, safe culture and safe recrurtmenti. The kindergarten appreciates its responsibilty to minimise its impact on the environment and implements schemes such as walking to sch¢)ol, lo reduce the Kindergarten's negative footprint on the environment. PUBLIC BENEFIT The Governors have given careful consideration to the Charity Commission's general guidance on public benefft and in particular to its supplementary public benefit guidance on advancing education and on fee charging. The provision of public benefit mainly caters for Norwegianlscandinavian citizens in the local area. As a main rule all children take part in school trips. excursions. visits to theatres at no extra charge. Milk is provided free of charge for lunch. The Norwegian Kindergarten welcomes pupils from all backgrounds and nationalities. Additional public benefits include.. Providing facilities for families for birthday parties and other cttasions and celebrations. Providing access for children and families to the School grounds- playground and tennis court outside school hours at no charge. The Kindergarten partictpate in fundraising for Comic Relief, Children in Need and Christmas Jumper day (Save the Children Fund) and other charity events. The Kindergarten visits neighbouring instiluts.on for senior citizens. REMUNERATION OF KEY PERSONNEL The Govemors are responsible for setting the pay and remuneration of key management personr¢el. Remuneration is set once certain factors are considered. These factors include market rates of pay and benchmarks against salaries in NopNay. FINANCIAL REVIEW FInanS have been d05ely monitored this year but despite thi5 there was a deficAt of £31.946 which will taken from the reserve5. The amount of reserves at Ihe end of 2022 was £20.059. This deficit is due to an unforeseen increase to payroll costs. 2023 forecast is significantly better and should see profit Mthich will increase the depleted reserves. Page 4
VkiuaBunatLnTrarffjxlvM Ref. 89QD.3NJ&X6PV 30 lJay2023 19..22..16 BST (UTC +110 111 P 7120 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 RESERVES POLICY The Govemors understand the need for cash reserves so the Kindergarten can continue to operate for the foreseeable future. Approved by order of the members of the board of Govemors and signed on their behalf by= Austvoll Chair of Trustees Dale= 30 May 2023 Page 5
VrbJJkgunurvTrarwoCbc Ref. 89QLk3NJB-X6PV30 Mw>)23 19..22..16 BST (UTC +110 111 PW20 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Independent Examinerfs Report to the Governors of The NopNegian Kindergarten in London ('tho company.) I report to the charity Govemors on my examination of the accounts of the company for the year ended 31 December 2022. Responsibilities and Basis of Report As the Govemors of the company land its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance V¥qth the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfied myseW that the accounts of the company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examinalh)n, I report in respect of my examination of the companys accounts carried out under section 145 of the charits Act 2011 1.the 2011 Act'l. In carrwng out my examination I have followed the Directions given by the Charity Commissi(m under sects'on 14515Kb} of the 2011 Act. Independent Examinerfs Statement I have completed my examination. I confirm that no matters have me to my attention in connection with the examination giving me cause lo believe: accnunting reGords were not kept in respect of the Gompany as required by section 386 of the 2006 Act or the accounts do not accord with those records: or the accounts do not comply wth the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a Yrue and fairf view which is not a matter considered as part of an independent examination- or the accounts have not been prepared in accordance with the methods and piinaples of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charf(ies preparing their accounls in acccdance with the Financtal Reporting Slandard applicable in the UK and Republic of Ireland IFRS 102)]. I have no concems and have come across no other matters in connection with the examination to lch attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the companvs G)vemors. as a body. in accordance with Part 4 of the Charities {Account5 and Reports) Regulations 2008. My work has been undertaken 50 that I might state lo the companls Governors those matters l am required to stale to them in an Independent examinerfs report and for no other purpose. To the fiillest extent perniitted by law. I do not attept or assume responsibility to anyone other than the company and the companrfs Govemors a5 a bcdy, for my work or for this report. Signed: Darren O'connor Bcs (Hons) FCCA ACA Dated= 2 June 2023 James Cowper Kreston Audit Chartered Accountants George Street Reading Berkshire RG1 8LS Page 6
VrbJJkgun*urvTrarwoCbc Ref. 89QLk3NJB-X6PV30 Mw>)23 19..22..16 BST (UTC +110 111 P9120 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestricted funds 2022 Total funds 2022 Total funds 2021 Note Income from: Charitable activities- Fees receivable 202.546 202,546 174,835 8,683 Other income Total income 202.546 202,546 183.518 Expenditure on: Charitable activities= staff costs 195,252 2,394 20,813 12.253 180 195,252 2,394 20,813 12,253 180 171,949 3,201 20.942 13.088 210 Educational supplies Establishment Costs Other operating costs Finance costs Govemance 3.fjoo 3,600 3,000 Total oxpenditure 234.492 234,492 212.390 Net expenditure 131.946) {31.9461 128,872) Not movement in funds 131.946) {31,9461 128,872) Reconciliation of funds: Total funds brought forward Net movement in fund5 52,005 131.946) 52,005 {31.9461 80,877 128,872) Total funds carried forward 20.059 20,059 52.005 The Statement of Financial Activities include5 all gain5 and losses recognised in the year. The note5 on pages 10 to 18 fomi part of these finanrAal Statements. Page 7
VkiuaBunatLnTrarffjxlvM Ref. 89QD.3NJ&X6PV 30 lJay2023 19..22..16 BST (UTC +110 111 P 10120 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) REGISTERED NUMBER: 09031159 BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Note Fixed assets Tangible assets 1.197 1,716 1.197 1,716 Current assets Debtors 1.026 57,620 2.366 79.284 Cash at bank and in hand 58,646 81.650 Current liabilities 10 139.7841 131.3611 Nei currant assets 18.862 50,289 Total net assets 20.059 52,005 Charity funds Unrestricted funds 20.059 52,005 Total funds 20.059 52,OOS The company was entitled to exempts'on from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Govemors acknowledge their responsibilities for complying with the requirements of the Act wth respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entilies subject to the small companies regime. The financial statements were approved and authorised for issue by the Governors and signed on their beha by.. E Austrrfoll Trustee Dale= 30 May 2023 The notes on pages 10 10 18 fomi part of these financial statements. Page 8
VrbJJkgun*urvTrarwoCbc Ref. 89QLk3NJB-X6PV30 Mw>)23 19..22..16 BST (UTC +110 111 P 11r20 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Noi8 Cash flows from operating activitios Nel cash used in operating activities 13 121,664) 158,080) Change in cash and cash equivalents in the yaar 121,664) 158,0801 Cash and cash equivalents at the beginning of the year 79.284 137.364 Cash and cash equivalents al the end of the year 14 57.620 79,284 The notes on pages 10 to 18 fom part of these financial statements Page 9
VrbJJkgun*urvTrarwoCbc Ref. 89QLk3NJB-X6PV30 Mw>)23 19..22..16 BST (UTC +110 111 P 12r20 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Gan8ral infomiation The entity is a charitable company limited by guarantee. incorporated in the United Kingdom and registered in England and Wales. Its registered 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 respect of the guarantee 15 limited lo £10 per member of the company. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP {FRS 1021 Accounting and Reporting by Charities: Statement of Recommended Practi applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. The Norwegian Kindergarten in London meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transacts'on value unless otherwise stated in the relevant accounting policy. 2.2 Income All income is recogni5ed once the company has entitlement to the income. it is probable that the income wll be received and the amount of income receivable can be measured reliabty. Fees relating to the next financial year are carried foTward as deferred income. 2.3 Expenditure Expenditure is recognised onee there is a legal or Constructive obligation to transfer economic benefft to a third party, it is probable that a transfer of economic beneffls will be required in Seternent and the amount of the obligation can be measured reliably. Expendrture has been allocated ben direct charitable and management and administration costs according lo the nature of the work perfomied. Direct charitable expenditure comprises all costs diredy attributable to the provision of seNices in pursuance of the charitable objectives and polies. All expenditure is accounted for under the accruals concept. Charitable activtties and Governance costs are costs incurred on the compan$ educational operations, including support costs and o)sts relating to the governance of Ilie o)nipany apportioiied to charitable activities. AJI expenditure is inclusive of Irrecoverab VAT. 2.4 Tangible fixed assets and depreciation Tangible fixed assets are initially recognised at cost. After recognition. under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incLTred to bring a tangible fixed asset into its intended working condition should be induded in the measurement of cost. Page 10
VrbJJkgun*urvTrarwoCbc Ref. 89QLk3NJB-X6PV30 Mw>)23 19..22..16 BST (UTC +110 111 P 19r20 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting polieies {continuodl 2.4 Tangible fixed assets and depreciation {cominued) Depreciation is charged so as to allocatè the cost of tangible fixed assets less their residual value over their estimated useful live5. Depreciation is provided on the following bases-. Fixture5 and fittings Computer equipment 20% and 33% reducing balance 33% reducing balance 2.5 Debtors Prepayrnents are valued al the amount prepaid net of any tTrde discounts due. 2.6 Cash at bank and in hand Cash at bank and in hand includes cash and SIrt-tem1 highly liquid investments wlh a short maturity of three monlhs or less from the dale of acquisition or opening of the deposit or similar account. 2.7 Liabilities and provisions Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilitie5 are recognised at the amount that the company anticipate5 It wll pay to settle the debt or the amount it has received as advanced payments for the good5 or services it must provide. 2.8 Foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated into slerting at rates of exchange wling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Statement of financial activities incorporating income and expenditure account. 2.9 Pensions The company operates a defined contribution pension scheme and the pension charge represents the amcyJnt5 payable by the company to the fund in respect of the year. 2.10 Fund accounting General funds are unrestricted funds which are available for use al the discretion of the Govemors in furtherance of the general objectives of Ihe company and which have not been designated for other purposes. 2.11 Terniination payments Termination payments are recognised once the obligation arises whid) is usually at the date of communcation. Page 11
VrbJJkgunurvTrarwoCbc Ref. 89QLk3NJB-X6PV30 Mw>)23 19..22..16 BST (UTC +110 111 P 14r20 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting polieies {continuodl 2.12 Critical accounting astimaies and areas of judgoment Estimates and judgements are continually evaluated and are based on historical experience and other faGtors. ino4uding expeGtalion5 of lutute events that are belbeved to be rea50Trable the rcumstances. Crrbcal accounting e5timale5 and assumptions.. The company makes estimates and assumptions conmIng the future. The resulting accounting estimates and assumptions wqll, by definition, seldom equal the related actual results. Other income Unrestricted funds 2022 Total funds 2022 Total funds 2021 CJRS grant Other income 8,402 281 Total 2022 8,683 Total 2021 8,683 8,683 Gov8manc8 costs Unrestricted funds 2022 Total fund5 2022 Total funds 2021 Independent examiner's fees Independent examiner's fees - nonxamination 2.0 1,6 2,000 1.600 2.000 1,000 Total 2022 3.6CK) 3,600 3,000 Page 12
VrbJJkgun*urvTrarwoCbc Ref. 89QLk3NJB-X6PV30 Mw>)23 19..22..16 BST (UTC +110 111 P 1Y20 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Indepandent examinarfs remuneration 2022 2021 Fees payable to the companls independent examiner for the independent examlnatlon of the companys annual accounts 2,000 2,000 Fees payable to the companls independent examiner in respect ot. l other services not inciuded above 6.751 5.877 Staff costs 2022 2021 Wages and salaries Social security costs Contribution to defined contribution pension schemes 168.270 11.495 14.324 146.879 11.639 12,531 194.089 171,049 During the year temiination payTnenls of £18,243 12021: £nill were made. There were no outstanding amounts at the balance sheet date. The average number of persons employed by the company during the year was as follows.. 2022 No. 2021 No. No employee received remuneration amounting to more than £60,000 in either year. The key management personnel of The NopNegian Kindergarten in London comprise govemors, the head teacher and the deputy head teacher. The total employee benefits of the key management personnel was £107,682 {2021: £103,869}. Governors. remuneration and expenses The members of the Board of Governors are regarded as directors for the pufj)oses of the Companies Act 2006. During the year. no Govemors received any remuneratson or other benefits12021- £NIL). During the year ended 31 December 2022. no Govemor expenses have been inuJrred12021- £NIL). Page 13
VrbJJkgun*urvTrarwoCbc Ref. 89QLk3NJB-X6PV30 Mw>)23 19..22..16 BST (UTC +110 111 P 16r20 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Tangible fixod assets Fixtures and fittings Computer equipment Total Cost or valuation At 1 January 2022 1.749 3.178 4,927 At 31 December 2022 1.749 3.178 4,927 Depreciation At 1 January 2022 Charge for the year 1.367 79 1.844 3,211 519 At 31 December 2022 2.284 3,730 Net book value At 31 December 2022 303 894 1,197 At 31 December 2021 382 1.334 1.716 Debtors 2022 2021 Due within on8 year Prepayments and accrued income 1.026 2,366 Page 14
VrbJJkgun*urvTrarwoCbc Ref. 89QLk3NJB-X6PV30 Mw>)23 19..22..16 BST (UTC +110 111 P 17r20 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 10. Craditors: Amounts falling due wilhin one year 2022 2021 Trade creditors Other taxation and social security Other credit$ 519 3.773 1.080 34.412 723 4.057 1.043 25,538 Accwals and deferred income 39.784 31,361 2022 2021 Deferred income at 1 January 2022 Resources deferred during the year Amounts released from previous periods 23.138 31,412 123,138) 52.003 23,138 152,003) Deferred income at 31 December 2022 31,412 23,138 11. Statement of funds Statement of funds - current year Balance at 1 January 2022 Balance at 31 December 2022 Incomo Exponditure Unrestricted funds 52,005 202,546 (234.492) 20.059 General Funds Statement of funds - Prior year Balance at 1 January 2021 Balance at 31 December 2021 Income Expend5ture Unrestricted funds General Funds 80,877 183,518 1212.3901 52,005 Page 15
VrbJJkgun*urvTrarwoCbc Ref. 89QLk3NJB-X6PV30 Mw>)23 19..22..16 BST (UTC +110 111 P 18r20 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 12. Analysis of nei assets between funds Analysis of net assats betwaan funds- currant year Unrestricted funds 2022 Total funds 2022 Tangible fixed assets Current assets 1,197 58,646 {39,784) 1,197 Creditors due within one year (39,7841 Total 20,059 20,059 Analysis of net assats betwaan funds - prior year Unrestricted funds 2021 Total funds 2021 Tangible fixed assets Current assets 1.716 81.650 131,3611 1,716 81,650 131.361) Creditors due thin one year Total 52,005 52,005 13. Reeonciliation of net movamant in funds to nat eash flow from operating activities 2022 2021 Net expendire for the year las per Statement of Financial Activities) 131,946} 128,872) Adjustments for: Depreciation charges Decrease in debtors 519 1.340 8.423 401 IncreasellDecreasel in creditors 130,418) Not cash used in operating activities 121.664} 158,080) Page 16
VrbJJkgun*urvTrarwoCbc Ref. 89QLk3NJB-X6PV30 Mw>)23 19..22..16 BST (UTC +110 111 P 1W20 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 14. Analysis of cash and cash equivalants 2022 2021 Cash in hand 57.620 79,284 Total cash and cash equivalents 57,620 79,284 15. Analysis of chang8s in not debt At1 January 2022 Cash flows At31 Docemb8r 2022 Cash at bank and in hand 79,284 121,664} 57,620 10. Pension COlVlfWlit¥nents 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 cost charge represents contributions payable by the charity to the fvnd and amounted to £14,324 {2021= £12,531). Contributions lotalling £1.080 (2021.. £1,043) were payable at the balance sheet date. 17. Operatingloase commFtments At 31 December 2022 the company had cornmitments to make future minimum lease payments under nOn-CanlIable operating leases as follow5.' 2022 2021 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 20.085 80.340 333.076 20.085 80.340 353.161 433,501 453,586 18. Related party transactions A number of Govemors have children attend the NorNegian Kindergarten in London and nursery fees are charged in accordance with the nursery charging policy. There were no other related paty transactions in the year. Page 17
VrbJJkgun*urvTrarwoCbc Ref. 89QLk3NJB-X6PV30 Mw>)23 19..22..16 BST (UTC +110 111 P20r20 THE NORWEGIAN KINDERGARTEN IN LONDON (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 19. Controlling party In the opinion of the Govemors, Ihere is no controlling party. Page 18