CAREY CHILDCARE CENTRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30TH SEPTEMBER 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30th September 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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 2015).
OBJECTIVES AND ACTIVITIES
Objectives and aims. As a Registered Day Nursery, we work in accordance with the Statutory Framework for the Early Years Foundation Stage, published by the government in 2012.
During the reporting period the Nursery provided a full time service (07:45 to 17:45, five days a week) to children and parents, from our premises at Carey Baptist Church, Pole Street Preston, except where interrupted by COVID Lockdown restrictions, or staff absence due to sickness. This facility comprised 4 play rooms, a dining/recreation hall, outdoor playground, offices, kitchen and toilets. We accommodated some 30 children (aged between 6 months and 4years) each week, with generally 20 in the Nursery at any one time. The children were tutored by 6 qualified full-time staff, assisted by a cook, and cleaners. We retain a five star rating for our kitchen.
Significant activities. We tracked the progress of each child against the EYFS learning objectives, and adjusted our activities to develop areas where children exceled, or needed further help. We provided parents with support in the education and behaviour of their children as well as providing information on health issues. The progress of each child was monitored by means of a 'Learning Journey' file, which was reviewed with parents. We continuously updated our play equipment and facilities.
We have opportunities for the children to participate in basic woodwork skills and simple Christian Education.
We continuously monitor the effectiveness of our educational programme, our staff performance, and the health and safety and fire safety of our premises.
Some staff turnover has occurred, and we have recruited replacements during the
- year. In May our Manager resigned for personal reasons, and we recruited a replacement. Our last OFSTED inspection was held on 18[th] June 2018, and we were rated a ‘Good’
Nursery.
Public benefit. The Trustees have considered the Charity Commission guidance regarding public benefit and are content that the Charity has met the requirements by the means described above.
FINANCIAL REVIEW
Investment policy and objectives. The Trustees regularly review the level of cash funds held. Any amounts held in excess of that required for day-to-day use are deposited in order to earn additional interest where possible.
Reserves policy. The Trustees have reviewed the financial requirements of the charity and consider that the charity should normally hold free reserves equivalent to approximately three months' total expenditure. Such a reserve is required to enable the charity to run smoothly should there be any decrease or delay in income and cash-flow timing. Based on the average total costs of the charity this is equivalent to approximately £55,000.
Our financial reserves have been used up over the year, due to the disruption caused by COVID, requiring the employment of Agency staff to compensate for illness. Margins have further reduced because of increases in National Living Wage and Minimum Wage rates without any significant increase in government fees (see attached accounts).
We will seek to restore our reserves as conditions stabilise post COVID.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, the Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
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The Trustees of the charity are elected from among the Deacons of Carey Baptist Church. The Trustees form the Management Committee. The Nursery Manager, and her Deputy, are ex officio members of the Committee, which meets regularly, usually monthly. This process has been disrupted by COVID, but is being re-activated.
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Charlty reglstratlon numboy 1167278 Company reglstratlon number 08207687 (England and Walosl CAREY CHILDCARE CENTRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
CAREY CHILDCARE CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Rev J S W8118rson Mr R J Spaldlng (Appolnted 28 October 2021) (Appolnled 27 October 20211 (Appolnled 27 October 2021) (Appolnled 27 October 20211 Mr I WArgile MrGRLew8 Miss J Plckle8 Charlty number 1157278 Cornpany number 08207587 ReglBtwed ofllce Carey Baptist ChUh Pole Street Preston Lancashirg PRI IDX Indgpendtnt èxamlner Champlon TLL Llmlted 7-9 Slatlon Road Heskelh Bank Preston Lan¢ashlre PR4 6SN
CAREY CHILDCARE CENTRE CONTENTS Paue Twsle28' report Independenl examlner's report Slatemenl of financlal actlvllle8 Balance sheet Notes to th6 finand81 slatemènts 6-11
CAREY CHILDCARE CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR.ENDED 30 SEPTEMBER 2021 The Iruslèes pre8enl Ihelr annual report and flnandal Statemen18 for Ihe year ended 30 September 2021. The finah¢ial slalements have been prewed in accordance wilh thè acc¢)untlng pollcles Sat out In notè 1 to th8 nanclal slalamen18 and comply wllh the charllls goveinlng document. the CoMpare$ Act 2008 and "Aceounllng and R8POrting by Chayilios,. Slalement of Recommended Pracllce appllc8ble lo charllles weparing thelr account8 in accordance 1 the Finandal Reporting Standard app5icabl8 In th8 UK and Republic of Ireland IFRS 1021" (effective l Jonuory 2019). Ohlectlvès and actlvltle8 A8 a Regl8leTed Day Nurs&ry. we work In accordancè wllh the Slalutory Framework for the Early Years Foundallon Stage. publlshed by the government in 2012. During the reporting perlod the Nursery provlded a full Ilme 8ervlce107,'4510 17.'45, five d8y8 a weekl lo ¢hildren and parents, from our premlses al Carey Bapllst Church, Pole Stre61 Preston, excapl where Interrupted by COVID Lockdown re81rlcllon8, ar staff ab89nce due Io 8lckness. Ths falItY comprised 4 play room8, a dlninglrecrealion h811, outdoor playground, office8, kitchen and toilets. We accornmodaled some 30 thlldren (aged between 6 month$ and 4yeaTS) each week, with generally 20 in the Nuisery al any one Um8. The chlldren were tutored by 6 qUalifd full-llme st8ff, as8lsted by 8 cook, and clèaners. We relaln a five slar rallng for our kllchen. Publlc benèlll. The Tiuslees have consldered the Charity Commisslon guldance regarding publlc benefit and are content Ihat the Charity has mel the requlrements by the means descrlbed above. Slgnlllcant actlvSllos We tiacked the wogress of each chlld agalnsl the EYFS learnlng oblecllves, and adlusled our aclivilles lo devalop areag where childron exceled, or needed further help. We provlded parents with support In the eduGatlon and'b8h8viour of Ih8lr children as w811 as provldlng informallon on health Issuès. The progress of each chlld was monilore(I by means of a 'Learning.Journel file, whlch wa8 reviewed with paronls. We conllnLK)usly up(lated our play equlpmenl and fadlllies. We have opportunllle8 for the chlldren lo partldpale In baslc woodwork sk1115 and slmple Chrlstlan Educallon. We conllnuously monltor lh$ effgclivoness of our educallonal progr8mm8, our Staff perf¢rmance, and the hèallh and salety and 1Sr8 safely ol our premlses. Some Staff turnover ha8 occurred. and we have recrulled replacements during the year. In May our Manager resigned for personal reasons, and we recrulled a roplacemenl. Our last OFSTED Inspe¢tlon was held on 18th June 2018, and we were rated a 'Good' Nurse'ry. Achlevements and performance Flhanclal revlew 11 Is th8 pollcy of the charlly that unreslrlcted funds whlch have not been deslgnaled for a speclflc use should be malnldned al a level equlvalent lo between three and Six month's expendlluro. The Irusle8s con8ld&r that re8erv8s al Ihls level will ensure that, in the event of a slgnlficanl drop In fundlng, they will be able lo continue the charlly's current aclivllles whlle consIderaU(ls glven to ways In whlch addluonal funds may be raised. Thislgvel of reserves has been maintalne(i through01 Ihe yoar.
CAREY CHILDCARE CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 Th8 Trustees h8va revlewed the flnanclal requlrement8 of the charlty and con8lder that the charlly should noTmally hold free reserves equlvalertt to approxlmalely three months, total expendllure. Such a reselve Is required lo enable the charSly lo run smoothly should there be any decreage or delay In IncomB and cash.flow tlmlng. Based on th8 average lolal costs of the charity Ihls is equlvalent to approximately £44,000. Our flnanclal reserves have been used up over the year, due lo the dlsruplion ¢au8ed ljy COVID, reqtslrlng the employment of Agency staff to compensate for Illness. Marglns have further reduced because of Incrga60s in Nallonal Living Wage and Mlnimum Wage rales wilhoul any slgnifi¢anl Increase in government fees {8ee allached accounts), Al the year end free reserves amounted to £36.32612020.' £61,404) We wlll Seek to resloro our reseN88 a8 condillons $tobillBe post COVID. The TruBtees regulatly r8vlew the level of cash funds held. Any amounts held In excess of that requlred foT day- to-day use are deposlted In order to e?fn addlllon81 Inleresl where posslble. The IiiJ8tee8 regularly con8ld8r the rlsks faced by Ihe charity and lake actlon where approprlale. Structurp, govemallce and managgment The charlly15 a compgny Ilmlled by gugranlee. The trustees, who are 81g0 the dSreclors for the purpos9 of company law, and who $erved duTing the yeer and up lo the dale of slgnalure of the finandal slalemenl8 were.. Mr M K Nulekepor (Reslgned 27 O¢lob6r 2021) Rèv J S Watterson Mr R J Spaldlny Mr I WArglle MrG R Lewl$ Mlss J Plckles (Appolnted 28 October 2021) (Appolnted 27 Oelober 2021) (Appolnted 27 October 2021} (Appolnted 27 October 2021) The Trusle¢s of the ch8rlty are eleded from among the Deacons of Carey Baplisl Chuich. The Trustees form the Monagement Commlllee. Th8 Nursery manageT, and her D8puly, are ex offi¢lo members of the Commlllee, which meets regularly, usually monthly. Minules are kept of each meellng. The Irustetrs, re pproved by the Board of Twstees. tterson uste Date..
CAREY CHILDCARE CENTRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CAREY ¢HILDCARE CENTRE I report lo the Iruslèes ¢)n my 8xominallon of the finanel81 $18temenl$ of C8roy Childcare Centre (the ch8rity} for the year ended 30 September 2021, Ro5ponslbllltlgs and ba6Is of report As the Iruslees of thè charity (and also its dlreclors for the purposes of company law) you aro responslble for the preparation of the financlal 8tslemenls In accordance with the requlremenls of Ihe Gompanles Act 2006 (the 2006Aot). H8ng sallsfled my8elf that the flnandal slalemenls of the ¢harily are not requlred lo bo audlted under Part 16 of the 2006 Act and ore eligible for Independent examlnallon, I report in Tespecl of my examinalion of the chartty's financial slal8men18 cared out under section 145 of the Chsrllles Act 2011 Ilhe 2011 Act). In carrylng out my axamlnation I have followed all the gpplicable Direcllons given by the CharSly Commlsslon under liOn 145(5) {b) of the 2011 Act. Independènt &xamlneF'$ statgment I have completed my examlnallon." I conflrm Ihat no mallers havo Come lo my atlenllon In connection with the examlnalion giving me cause lo belleve that In malerlal respect- accounting record8 were not kept In respect of the charlly as requlred by 8¢¢ll¢n 388 of the 2008 Act. or Iho financlal slalemenl8 do not accord with Ihose records. or Ihe financial slalemenls do not compty wllh the ac¢ounllng requirements of secllon 396 of the 2008 Acl other than any requlremenl that the accounts glve a true and falr vlew vthich18 not a maller con$ldeTed as part of an independent èxamlnallon., or the finan¢l?I slalemenls have rK)t been prepared in accordance wlh the" melhotls gnd prfnclples of the Statement of Recommended Pro0lic6 for accounllng and reportlng by charllles appllcsble lo charitios preparlng their accounts In accordance th the Flnanclal Reportlng SlandaTd applicable In th¢ UK and Republlc of Ireland IFRS 102). I hav¥ ng conGern5 and have como across no other m8lleT$ In connection wllh the examination lo which 8llenll¢n should bg drawn In thls report In order lo enable a proper underslandlng of th8 flnandal ¥latemenls tc be reached. Chimplon TLL Llm5tod P Buck FCA, DChA 7-9 Stalton Road Heskelh B8nk Preston Lanea$hlre PR4 6SN
CAREY CHILDCARE CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2021 Unrestrl¢t8d Unrestrlcted funds fund$ 2021 2020 NoteB Qonallons and legacles Charitable 8cllvllies Investments 16,265 151,908 149,677 224 Total Income 149,901 168,163 Charitable aclivllle8 175,459 1B7,261 Net {expendSturelllnctJne foi th• ygarl Net movemont ID funds 126,5581 10,902 Fund balances 81 l Oclober 2020 61,41M 50,502 Fund balanGOS at 30 September 2021 35,846 61,404 The 81atement of flnancSal aclivilles Includes all gains and10$8e8 recognlsed In the year. All Income and expend1tur8 derfve from conllnLtlng acllvllles. The slalement of flnanclal aclivllieB also complles wllh the requlrem&n18 for an Income and expendllure account under Ihe Companlg8 Act 2006.
CAREY CHILDCARE CENTRE BALANCE SHEET AS AT30 SEPTEMBER 2021 2021 2020 Not• Flxed assets Tanglblè a88el8 9,193 11,491 Current assets Cash 8t bank and In hand 29,135 54,044 Credltovs: amounts falllng duè wllhln one ygar 11 12,482) 14,131) Nat current assets 26,653 49,913 Total assets1ès$ current Ilabllltle¥ 35,846 61,404 Income funds Unrestricted funds 35,846 61,404 35,846 61,404 Tho company Is'enlllled lo the exemptlon from tho 4LKlIt requlremenl conlalned In section 477 of the Companles Act 2006, for tha yew ended 30 September 2021. The director8 8¢knowledge Ih¢lr resp)nslblllties for complylng wlth the rèqulr8ment8 of the Companle$ A¢1 2006 th respect to 8ccounllng record8 and the preparauon of financlal $laleMenls, The mombeis have not xequired Ihe company to obtain an audil of tts flnan¢lal 3lalemenls for the year In quesllon In accordanco with sectlon 476. Th088 financial s181emenls have bèen prepared in aecordanca wlth the provislon8 applicable lo companles subject lo Ihe small companles reglme. Tho flnanclal stateme approved by the Tru51fjes on ...... .... Jswa rust&e er80n Company reg151ratlon numbgr 08207687
CAREY CHILDCARE CENTRE NOTES TO THE FINANCIAL STATEMENTS ' FOR THE YEAR ENDED 30 SEPTEMBER 2021 Accountlng pollGI¢s Charlty Informatlon Carey Chlldcare Centre18 a prfvale company Ilmited by guarantee Incorporate(l in En Jand and Wale8. Th8 reglslgred offlce18 Carey Baptt Church, PolB Street, Preston, Lanca8hlre, PR11 DX, 1.1 Accountlnu conventlo The Ilnaneial statements have been prepared In aGcordance wllh the charlly's governlng document, the Companles Act 2006, FRS 102 'The Financiol Reportlng Standard applicgble In the UK and Republic of Ireland. {'FRS 102.1 and Iho Charllies SORP "Accounllng and Reportlng by Charille8'. Slalomenl of Recommended Pracllce applicable lo Gharllies preparing their accounts In attordance with the FlnanrAal RepL7rtlng SlandaTd appllcable In Ihe UK and Republic of Ireland {FRS 102)" {effectlve l January 20191. The chority Is a Publlc Beneflt Enllly as deflned by FRS 102, The charlty has taken advantage of the proviglons In the SORP for charllies not to prepare a Slalemenl of Cash Flows. The fancIal 51atement8 are prepared In slerllng, whlch is the fundonAI currency of the ¢hArity, Monetary amtsunls In these flnanclal 81atements ale roundgd to the near8&1 £. The financlal 518lemenl$ have been prepared under the hislorlcal cost Convention, modified lo Include the revaluallon ol freehold prop&1i88 and lo Include Inve61menl prt¥ertles and certaln finandal In81ruMenls Rl falr valuB. The prhclpal accounting policies adopted are sel out below. 1.2 Golng ¢ottcem At the Ilme of approvlng th& financlal slalements, Ihe Iru8tee8 have a reasonable expeclallon that the charity has adequate re80urces lo conllnue In opwallonal exlstence for Ihe foreseeable future. Thu$ the trustee8 conllnue lo adopt the golng concern b8818 of accounllng in preparlng the finandal slalemgnls. 1.3 Charltoblg fundts Unreslrlcled funds are avollable for use al Iho d18crellon of th8 Iru5teBs In furtheranco of Ihelr eharltablè oblecllves. Re81rlcled funds are subject 10 8peclflc èondllions by donors 88 to how Ihw may be used, Th8 purpo888 and use8 of the re51rf¢ted fund8 are set out In Ihe notes lo the financlal 8tatemo1115. Endowment funds are ¥u*lect to speclfic condlllons by donor8 that the capital must be malnt81.ned by, the ¢harlly. 1,4 In¢om8 Incom8 Is recognlsed when the charity Is lègally enlSlled lo11 after ony performance condlllons h8vo beon met, th6 amounts can be measured rellably, arKI11 Is probd)le that income be recelved. C?sh donallons 8re recognl$ed on recelpl. Other (lonatlonB afe recugnlsed once th¢ chaiily ha8 been nolllled of the donallon, unle88 P8rfom)ance condition8 requlre deferral of the amounl. Income lax recoverable in relallon to donalSons recelved undar Glft Ald or deeds of covenant18 recognlsed at the Ilme of the donallon. Legacles are recoynised on recelpl or oth8Se if the chorlly has b8èn nollfled of an Impendlng dlslrlbullon, the amount Is known. and recelpt 1$ expected. If Ihe amount Is not known, th¢ legacy Is liealed as a conllng8nl asset.
CAREY CHILDCARE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 Accountlng policles (Contlnuedl 1.6 Expgndlturg Expèndllure Is recoynlsed once there 1$ a legal or Gon51ru¢live obllga¥on lo transfer economlc ben8flt to a Ihlrd party, It Is probable that a transfer of economlc benefits 11 be requlred in setllemenl, 8nd the 8mounl of the obligallon can be measured rellably. Expenditure Is clas$lfted by actlv4ty. The costs of each acllvlly are mad6 up of the total of dSrecl costs and sh#red cos18. Includlng support C0818 Invobjed In undertaking each activity. Dlrecl costs allribulable lo 8 single aclivlty are allocated directly to that acllvSly. Shared ¢o$l$ whlch contribute lo more than one aclivlly and 8UPPOrt costs which are not allribulable to a slngl@ actlvSly ale apportSoned between those act114¢S on a basls consislerbl with t1 use of resources. Central staff coslg are allocated on the ba818 of Ilme spent, and dépreclatlon chaig88 are allocated on the portion of th& as8et's U88. 1.6 Tanglble flxed a8set8 Tanglble flxed assels are Inlllally measured at cost and subsequently measure(l al cost or valuallon. net of depreclallon and ary Impalrment losses. Depreclallon18 recognlsed 80 as lo lIe off the cost or valuation of asset8 le88 thelr resldual values over Iheir uselul Ilves on the followlng basas,. Plant and equlpmenl 20% redudng balance Tho gain or 1088 arlslng on the dl8posal of an assèt Is delermlned as the difference been thè Sale preedS and the carrying value of Ihe asset, and Is Yecognlsed In the statement of ftnanci&l actlville8. 1.7 Impalrment of flxed assets Al each reportlng end dale, Ihtr ¢harity revlews the carrylng amounts of118 langlble a888t8 lo dolermine whether there Is any Indlcallon that those assets have suffered an impairm8nl1085. If any such Indicallon exists, the recov&rable amount of thè assel18 esllmated In order to delermlno tho extenl of the Impalrment loss (if any). 1.8 Cash and cash equlvalents Cash and ¢esh equlvalenls Indude cash In hand, deposSls held al call with banks, other short-lerm liquld Investments wllh orlglnal malurllles of three months or 1888, and bank overdrafts. Bank overdrafts shown wlhin borrowng8.ln current Ilabllitle8, Baslc flnanelal assèts Ba81c flnanclal a88els. whlch Include dobtors and cash &nd bank b818nces. are Inllially measured at Iransacllon prico Including lian8acllon costs and are subsequently c8rried at amortised cost using the effective interest method unless Ihe ariangemenl con5111ules a financing Iransactlon, where the tiansadlon 1$ measured al the pras2nt value of the future recelpls discounted at a market rale of Intere81. Flnandal assels classified as receivabl8 wilhin one year are not amortlsed.
CAREY CHILDCARE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 Accountlng pollcle8 Iconllnuedl Baslc Ilnanclal Ilabllllle 8asl¢ financlal lipblli1185, Indudlng cyedllois and bank loans are Inltlally recognlsèd at Iran5actlon prfce unless the arTangement con5111utes a financlng lyonsactlon, where the debt In81rument Is measured al the present valu8 of the fulurè payments dlscounled at a market ralo of Interest. Financial liabililles das31iled 88 payable wllhSn one year ar8 npl amortlsed. Debt Instruments are subsequently carried at amortised cost, uslng the effe¢llvè Int¢rè$l ratè mèthod. Trade credllors are obllgallons lo pay for goods of Bérvl¢ès Ihal hav8 b8en acqulred In the ordlnwy'course of operallons from suppllers. Amounts payable are classlfled as curronl118bllllle8 If payment Is due within one year or less. If nol, Ihey are presented as non-currenl Ilabllliles. Trade credltors aro recognlsed Initially al transacllon price and 8ub8equenlly measured at amort18ed cost uslng tho effective Interest method.. Derecognltlon of Ilnanclal Ilabllltles Flnancial Ilabilille8 are de¥ecogn18ed when the charSly'8 conlr&¢lual obllgalions explre or are dlscharged or cancelled. 1.9 Employ¢e bgnèfltg The cost of any unused holiday enllll8m8nt 18 recognlsed In the perlod In whlch the employee's servlces are received. Termlnalion benefrt8 are recognlsed Immedlalely as an expense when the charlly Is demon8trabty commllled to lerm#iale the employment of an employee or lo provlde termination benerrts. Crltlcal accountlng estlmates and Sudgemènts In the applicallon of the charity's accounllng polldes, the trustee$ are requlred to make judgemonls, 881imales and assumptions about the carrylng amount of assets and Ilabllltlas Ihat are not readlly apparent from other sourte5. The èsllmat66 and a88oel8led a88umptlons 8re basgd hlstorical experlènGe other factor$ Ihat are ¢onsldered lo be relevanl. Actual results may differ from these eslimales, The esllmates and undellylng a88umplion8 ore reviewed on 8n ongolng basls. Revl$lon8 lo accounllng esllmales are recognlsed In the perlod in whlch the esllmale 1$ revl$ed wherè the r8v181on affects only that perfod, or In tho porlod cf the r¢vislo# and future perlods wherg the revl8lon affect8 both current and futur perlods. Donatlons and18gaclès Total Unre51ricled fun¢Js 2021 2020 Donatlons and glfts 16,255
CAREY CHILDCARE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 Charltabl& actfvitle Educatlon Educatlon 2021 2020 Income thIn charilgble acllvllle8 149,677 151,908 Investments Unre8trlcted fund$ To181 2021 2020 Interest recelvable 224 Charftable actlvltle9 Educatlon Educatlon 2021 2020 Staff c0818 Depreclalion and Impalrment Edvcallon 108,720 2,298 65,241 111,986 2,873 41,178 174,259 156,037 Share of governance costs (see note 71 1,200 1,224 175.459 157,261
CAREY CHILDCARE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30'SEPTEMBER 2021 Support costs Governonc• cost8 2021 Governance cosls 2020 Independent 8xamlnallon fee8 1,200 1,200 1,224 1,224 1,200 1,200 1,224 1,224 Analysed between Charitable activities 1,200 1,200 1.224 1,224 Tiust8es None of the Iruslee8 (or any por80n8 connected with them) recelved any remuneration or benefits from the charlly durlng the year. Employgos Th8 average monthly number of employe¢$ duilng the yearw88: 2021 Numbev 2020 Number Employmont costs 2021 2020 Wages and $8larle8 106,720 111,986 There were no employee8 wh050 annuol remuneration was more than £60,000. 10-
CAREY CHILDCARE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2024 10 Tanglble flxed assets Plantarid equlpmellt Cost Al 1 October 2020 29,746 AI 30 September 2021 29,748 Depieclatlon and Impalrm8nt Al 1 October 2020 Dgpieclallon charged In the year 18,255 2,298 Al 30 Seplembei 2021 20,553 Carrylng amount AI 30 September 2021 9,193 AI 30 SeptembeT 2020 11,491 11 CredIto. amounts falllng due wlthln on8 yèar 2021 2020 Other credllor8 AclIalS and deferred Income 1.1U2 1.380 2,103 2,028 2,482 4,131 12 Analys18 of net a¥s8ts bgtwegn funds Unrestrlcted Unreslrlcle funds lunds 2021 2020 Fund balances 0130 September 2021 are represented by: Tanglble as8ets Current as88lsllllalll1l8sI 9,193 26,653 11.491 49.913 35,84e 61,404 The movemènt In fL*nd8, for Ihl8 year and la$1, wholly ftlated to free reserves. 13 Relatgd party transactlon8 There werè no dlsck)$8ble related party Iransactlons dlxlny the y8ar12020- nonel- 11
Charlty reglstratlon numboy 1167278 Company reglstratlon number 08207687 (England and Walosl CAREY CHILDCARE CENTRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
CAREY CHILDCARE CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Rev J S W8118rson Mr R J Spaldlng (Appolnted 28 October 2021) (Appolnled 27 October 20211 (Appolnled 27 October 2021) (Appolnled 27 October 20211 Mr I WArgile MrGRLew8 Miss J Plckle8 Charlty number 1157278 Cornpany number 08207587 ReglBtwed ofllce Carey Baptist ChUh Pole Street Preston Lancashirg PRI IDX Indgpendtnt èxamlner Champlon TLL Llmlted 7-9 Slatlon Road Heskelh Bank Preston Lan¢ashlre PR4 6SN
CAREY CHILDCARE CENTRE CONTENTS Paue Twsle28' report Independenl examlner's report Slatemenl of financlal actlvllle8 Balance sheet Notes to th6 finand81 slatemènts 6-11
CAREY CHILDCARE CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR.ENDED 30 SEPTEMBER 2021 The Iruslèes pre8enl Ihelr annual report and flnandal Statemen18 for Ihe year ended 30 September 2021. The finah¢ial slalements have been prewed in accordance wilh thè acc¢)untlng pollcles Sat out In notè 1 to th8 nanclal slalamen18 and comply wllh the charllls goveinlng document. the CoMpare$ Act 2008 and "Aceounllng and R8POrting by Chayilios,. Slalement of Recommended Pracllce appllc8ble lo charllles weparing thelr account8 in accordance 1 the Finandal Reporting Standard app5icabl8 In th8 UK and Republic of Ireland IFRS 1021" (effective l Jonuory 2019). Ohlectlvès and actlvltle8 A8 a Regl8leTed Day Nurs&ry. we work In accordancè wllh the Slalutory Framework for the Early Years Foundallon Stage. publlshed by the government in 2012. During the reporting perlod the Nursery provlded a full Ilme 8ervlce107,'4510 17.'45, five d8y8 a weekl lo ¢hildren and parents, from our premlses al Carey Bapllst Church, Pole Stre61 Preston, excapl where Interrupted by COVID Lockdown re81rlcllon8, ar staff ab89nce due Io 8lckness. Ths falItY comprised 4 play room8, a dlninglrecrealion h811, outdoor playground, office8, kitchen and toilets. We accornmodaled some 30 thlldren (aged between 6 month$ and 4yeaTS) each week, with generally 20 in the Nuisery al any one Um8. The chlldren were tutored by 6 qUalifd full-llme st8ff, as8lsted by 8 cook, and clèaners. We relaln a five slar rallng for our kllchen. Publlc benèlll. The Tiuslees have consldered the Charity Commisslon guldance regarding publlc benefit and are content Ihat the Charity has mel the requlrements by the means descrlbed above. Slgnlllcant actlvSllos We tiacked the wogress of each chlld agalnsl the EYFS learnlng oblecllves, and adlusled our aclivilles lo devalop areag where childron exceled, or needed further help. We provlded parents with support In the eduGatlon and'b8h8viour of Ih8lr children as w811 as provldlng informallon on health Issuès. The progress of each chlld was monilore(I by means of a 'Learning.Journel file, whlch wa8 reviewed with paronls. We conllnLK)usly up(lated our play equlpmenl and fadlllies. We have opportunllle8 for the chlldren lo partldpale In baslc woodwork sk1115 and slmple Chrlstlan Educallon. We conllnuously monltor lh$ effgclivoness of our educallonal progr8mm8, our Staff perf¢rmance, and the hèallh and salety and 1Sr8 safely ol our premlses. Some Staff turnover ha8 occurred. and we have recrulled replacements during the year. In May our Manager resigned for personal reasons, and we recrulled a roplacemenl. Our last OFSTED Inspe¢tlon was held on 18th June 2018, and we were rated a 'Good' Nurse'ry. Achlevements and performance Flhanclal revlew 11 Is th8 pollcy of the charlly that unreslrlcted funds whlch have not been deslgnaled for a speclflc use should be malnldned al a level equlvalent lo between three and Six month's expendlluro. The Irusle8s con8ld&r that re8erv8s al Ihls level will ensure that, in the event of a slgnlficanl drop In fundlng, they will be able lo continue the charlly's current aclivllles whlle consIderaU(ls glven to ways In whlch addluonal funds may be raised. Thislgvel of reserves has been maintalne(i through01 Ihe yoar.
CAREY CHILDCARE CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 Th8 Trustees h8va revlewed the flnanclal requlrement8 of the charlty and con8lder that the charlly should noTmally hold free reserves equlvalertt to approxlmalely three months, total expendllure. Such a reselve Is required lo enable the charSly lo run smoothly should there be any decreage or delay In IncomB and cash.flow tlmlng. Based on th8 average lolal costs of the charity Ihls is equlvalent to approximately £44,000. Our flnanclal reserves have been used up over the year, due lo the dlsruplion ¢au8ed ljy COVID, reqtslrlng the employment of Agency staff to compensate for Illness. Marglns have further reduced because of Incrga60s in Nallonal Living Wage and Mlnimum Wage rales wilhoul any slgnifi¢anl Increase in government fees {8ee allached accounts), Al the year end free reserves amounted to £36.32612020.' £61,404) We wlll Seek to resloro our reseN88 a8 condillons $tobillBe post COVID. The TruBtees regulatly r8vlew the level of cash funds held. Any amounts held In excess of that requlred foT day- to-day use are deposlted In order to e?fn addlllon81 Inleresl where posslble. The IiiJ8tee8 regularly con8ld8r the rlsks faced by Ihe charity and lake actlon where approprlale. Structurp, govemallce and managgment The charlly15 a compgny Ilmlled by gugranlee. The trustees, who are 81g0 the dSreclors for the purpos9 of company law, and who $erved duTing the yeer and up lo the dale of slgnalure of the finandal slalemenl8 were.. Mr M K Nulekepor (Reslgned 27 O¢lob6r 2021) Rèv J S Watterson Mr R J Spaldlny Mr I WArglle MrG R Lewl$ Mlss J Plckles (Appolnted 28 October 2021) (Appolnted 27 Oelober 2021) (Appolnted 27 October 2021} (Appolnted 27 October 2021) The Trusle¢s of the ch8rlty are eleded from among the Deacons of Carey Baplisl Chuich. The Trustees form the Monagement Commlllee. Th8 Nursery manageT, and her D8puly, are ex offi¢lo members of the Commlllee, which meets regularly, usually monthly. Minules are kept of each meellng. The Irustetrs, re pproved by the Board of Twstees. tterson uste Date..
CAREY CHILDCARE CENTRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CAREY ¢HILDCARE CENTRE I report lo the Iruslèes ¢)n my 8xominallon of the finanel81 $18temenl$ of C8roy Childcare Centre (the ch8rity} for the year ended 30 September 2021, Ro5ponslbllltlgs and ba6Is of report As the Iruslees of thè charity (and also its dlreclors for the purposes of company law) you aro responslble for the preparation of the financlal 8tslemenls In accordance with the requlremenls of Ihe Gompanles Act 2006 (the 2006Aot). H8ng sallsfled my8elf that the flnandal slalemenls of the ¢harily are not requlred lo bo audlted under Part 16 of the 2006 Act and ore eligible for Independent examlnallon, I report in Tespecl of my examinalion of the chartty's financial slal8men18 cared out under section 145 of the Chsrllles Act 2011 Ilhe 2011 Act). In carrylng out my axamlnation I have followed all the gpplicable Direcllons given by the CharSly Commlsslon under liOn 145(5) {b) of the 2011 Act. Independènt &xamlneF'$ statgment I have completed my examlnallon." I conflrm Ihat no mallers havo Come lo my atlenllon In connection with the examlnalion giving me cause lo belleve that In malerlal respect- accounting record8 were not kept In respect of the charlly as requlred by 8¢¢ll¢n 388 of the 2008 Act. or Iho financlal slalemenl8 do not accord with Ihose records. or Ihe financial slalemenls do not compty wllh the ac¢ounllng requirements of secllon 396 of the 2008 Acl other than any requlremenl that the accounts glve a true and falr vlew vthich18 not a maller con$ldeTed as part of an independent èxamlnallon., or the finan¢l?I slalemenls have rK)t been prepared in accordance wlh the" melhotls gnd prfnclples of the Statement of Recommended Pro0lic6 for accounllng and reportlng by charllles appllcsble lo charitios preparlng their accounts In accordance th the Flnanclal Reportlng SlandaTd applicable In th¢ UK and Republlc of Ireland IFRS 102). I hav¥ ng conGern5 and have como across no other m8lleT$ In connection wllh the examination lo which 8llenll¢n should bg drawn In thls report In order lo enable a proper underslandlng of th8 flnandal ¥latemenls tc be reached. Chimplon TLL Llm5tod P Buck FCA, DChA 7-9 Stalton Road Heskelh B8nk Preston Lanea$hlre PR4 6SN
CAREY CHILDCARE CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2021 Unrestrl¢t8d Unrestrlcted funds fund$ 2021 2020 NoteB Qonallons and legacles Charitable 8cllvllies Investments 16,265 151,908 149,677 224 Total Income 149,901 168,163 Charitable aclivllle8 175,459 1B7,261 Net {expendSturelllnctJne foi th• ygarl Net movemont ID funds 126,5581 10,902 Fund balances 81 l Oclober 2020 61,41M 50,502 Fund balanGOS at 30 September 2021 35,846 61,404 The 81atement of flnancSal aclivilles Includes all gains and10$8e8 recognlsed In the year. All Income and expend1tur8 derfve from conllnLtlng acllvllles. The slalement of flnanclal aclivllieB also complles wllh the requlrem&n18 for an Income and expendllure account under Ihe Companlg8 Act 2006.
CAREY CHILDCARE CENTRE BALANCE SHEET AS AT30 SEPTEMBER 2021 2021 2020 Not• Flxed assets Tanglblè a88el8 9,193 11,491 Current assets Cash 8t bank and In hand 29,135 54,044 Credltovs: amounts falllng duè wllhln one ygar 11 12,482) 14,131) Nat current assets 26,653 49,913 Total assets1ès$ current Ilabllltle¥ 35,846 61,404 Income funds Unrestricted funds 35,846 61,404 35,846 61,404 Tho company Is'enlllled lo the exemptlon from tho 4LKlIt requlremenl conlalned In section 477 of the Companles Act 2006, for tha yew ended 30 September 2021. The director8 8¢knowledge Ih¢lr resp)nslblllties for complylng wlth the rèqulr8ment8 of the Companle$ A¢1 2006 th respect to 8ccounllng record8 and the preparauon of financlal $laleMenls, The mombeis have not xequired Ihe company to obtain an audil of tts flnan¢lal 3lalemenls for the year In quesllon In accordanco with sectlon 476. Th088 financial s181emenls have bèen prepared in aecordanca wlth the provislon8 applicable lo companles subject lo Ihe small companles reglme. Tho flnanclal stateme approved by the Tru51fjes on ...... .... Jswa rust&e er80n Company reg151ratlon numbgr 08207687
CAREY CHILDCARE CENTRE NOTES TO THE FINANCIAL STATEMENTS ' FOR THE YEAR ENDED 30 SEPTEMBER 2021 Accountlng pollGI¢s Charlty Informatlon Carey Chlldcare Centre18 a prfvale company Ilmited by guarantee Incorporate(l in En Jand and Wale8. Th8 reglslgred offlce18 Carey Baptt Church, PolB Street, Preston, Lanca8hlre, PR11 DX, 1.1 Accountlnu conventlo The Ilnaneial statements have been prepared In aGcordance wllh the charlly's governlng document, the Companles Act 2006, FRS 102 'The Financiol Reportlng Standard applicgble In the UK and Republic of Ireland. {'FRS 102.1 and Iho Charllies SORP "Accounllng and Reportlng by Charille8'. Slalomenl of Recommended Pracllce applicable lo Gharllies preparing their accounts In attordance with the FlnanrAal RepL7rtlng SlandaTd appllcable In Ihe UK and Republic of Ireland {FRS 102)" {effectlve l January 20191. The chority Is a Publlc Beneflt Enllly as deflned by FRS 102, The charlty has taken advantage of the proviglons In the SORP for charllies not to prepare a Slalemenl of Cash Flows. The fancIal 51atement8 are prepared In slerllng, whlch is the fundonAI currency of the ¢hArity, Monetary amtsunls In these flnanclal 81atements ale roundgd to the near8&1 £. The financlal 518lemenl$ have been prepared under the hislorlcal cost Convention, modified lo Include the revaluallon ol freehold prop&1i88 and lo Include Inve61menl prt¥ertles and certaln finandal In81ruMenls Rl falr valuB. The prhclpal accounting policies adopted are sel out below. 1.2 Golng ¢ottcem At the Ilme of approvlng th& financlal slalements, Ihe Iru8tee8 have a reasonable expeclallon that the charity has adequate re80urces lo conllnue In opwallonal exlstence for Ihe foreseeable future. Thu$ the trustee8 conllnue lo adopt the golng concern b8818 of accounllng in preparlng the finandal slalemgnls. 1.3 Charltoblg fundts Unreslrlcled funds are avollable for use al Iho d18crellon of th8 Iru5teBs In furtheranco of Ihelr eharltablè oblecllves. Re81rlcled funds are subject 10 8peclflc èondllions by donors 88 to how Ihw may be used, Th8 purpo888 and use8 of the re51rf¢ted fund8 are set out In Ihe notes lo the financlal 8tatemo1115. Endowment funds are ¥u*lect to speclfic condlllons by donor8 that the capital must be malnt81.ned by, the ¢harlly. 1,4 In¢om8 Incom8 Is recognlsed when the charity Is lègally enlSlled lo11 after ony performance condlllons h8vo beon met, th6 amounts can be measured rellably, arKI11 Is probd)le that income be recelved. C?sh donallons 8re recognl$ed on recelpl. Other (lonatlonB afe recugnlsed once th¢ chaiily ha8 been nolllled of the donallon, unle88 P8rfom)ance condition8 requlre deferral of the amounl. Income lax recoverable in relallon to donalSons recelved undar Glft Ald or deeds of covenant18 recognlsed at the Ilme of the donallon. Legacles are recoynised on recelpl or oth8Se if the chorlly has b8èn nollfled of an Impendlng dlslrlbullon, the amount Is known. and recelpt 1$ expected. If Ihe amount Is not known, th¢ legacy Is liealed as a conllng8nl asset.
CAREY CHILDCARE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 Accountlng policles (Contlnuedl 1.6 Expgndlturg Expèndllure Is recoynlsed once there 1$ a legal or Gon51ru¢live obllga¥on lo transfer economlc ben8flt to a Ihlrd party, It Is probable that a transfer of economlc benefits 11 be requlred in setllemenl, 8nd the 8mounl of the obligallon can be measured rellably. Expenditure Is clas$lfted by actlv4ty. The costs of each acllvlly are mad6 up of the total of dSrecl costs and sh#red cos18. Includlng support C0818 Invobjed In undertaking each activity. Dlrecl costs allribulable lo 8 single aclivlty are allocated directly to that acllvSly. Shared ¢o$l$ whlch contribute lo more than one aclivlly and 8UPPOrt costs which are not allribulable to a slngl@ actlvSly ale apportSoned between those act114¢S on a basls consislerbl with t1 use of resources. Central staff coslg are allocated on the ba818 of Ilme spent, and dépreclatlon chaig88 are allocated on the portion of th& as8et's U88. 1.6 Tanglble flxed a8set8 Tanglble flxed assels are Inlllally measured at cost and subsequently measure(l al cost or valuallon. net of depreclallon and ary Impalrment losses. Depreclallon18 recognlsed 80 as lo lIe off the cost or valuation of asset8 le88 thelr resldual values over Iheir uselul Ilves on the followlng basas,. Plant and equlpmenl 20% redudng balance Tho gain or 1088 arlslng on the dl8posal of an assèt Is delermlned as the difference been thè Sale preedS and the carrying value of Ihe asset, and Is Yecognlsed In the statement of ftnanci&l actlville8. 1.7 Impalrment of flxed assets Al each reportlng end dale, Ihtr ¢harity revlews the carrylng amounts of118 langlble a888t8 lo dolermine whether there Is any Indlcallon that those assets have suffered an impairm8nl1085. If any such Indicallon exists, the recov&rable amount of thè assel18 esllmated In order to delermlno tho extenl of the Impalrment loss (if any). 1.8 Cash and cash equlvalents Cash and ¢esh equlvalenls Indude cash In hand, deposSls held al call with banks, other short-lerm liquld Investments wllh orlglnal malurllles of three months or 1888, and bank overdrafts. Bank overdrafts shown wlhin borrowng8.ln current Ilabllitle8, Baslc flnanelal assèts Ba81c flnanclal a88els. whlch Include dobtors and cash &nd bank b818nces. are Inllially measured at Iransacllon prico Including lian8acllon costs and are subsequently c8rried at amortised cost using the effective interest method unless Ihe ariangemenl con5111ules a financing Iransactlon, where the tiansadlon 1$ measured al the pras2nt value of the future recelpls discounted at a market rale of Intere81. Flnandal assels classified as receivabl8 wilhin one year are not amortlsed.
CAREY CHILDCARE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 Accountlng pollcle8 Iconllnuedl Baslc Ilnanclal Ilabllllle 8asl¢ financlal lipblli1185, Indudlng cyedllois and bank loans are Inltlally recognlsèd at Iran5actlon prfce unless the arTangement con5111utes a financlng lyonsactlon, where the debt In81rument Is measured al the present valu8 of the fulurè payments dlscounled at a market ralo of Interest. Financial liabililles das31iled 88 payable wllhSn one year ar8 npl amortlsed. Debt Instruments are subsequently carried at amortised cost, uslng the effe¢llvè Int¢rè$l ratè mèthod. Trade credllors are obllgallons lo pay for goods of Bérvl¢ès Ihal hav8 b8en acqulred In the ordlnwy'course of operallons from suppllers. Amounts payable are classlfled as curronl118bllllle8 If payment Is due within one year or less. If nol, Ihey are presented as non-currenl Ilabllliles. Trade credltors aro recognlsed Initially al transacllon price and 8ub8equenlly measured at amort18ed cost uslng tho effective Interest method.. Derecognltlon of Ilnanclal Ilabllltles Flnancial Ilabilille8 are de¥ecogn18ed when the charSly'8 conlr&¢lual obllgalions explre or are dlscharged or cancelled. 1.9 Employ¢e bgnèfltg The cost of any unused holiday enllll8m8nt 18 recognlsed In the perlod In whlch the employee's servlces are received. Termlnalion benefrt8 are recognlsed Immedlalely as an expense when the charlly Is demon8trabty commllled to lerm#iale the employment of an employee or lo provlde termination benerrts. Crltlcal accountlng estlmates and Sudgemènts In the applicallon of the charity's accounllng polldes, the trustee$ are requlred to make judgemonls, 881imales and assumptions about the carrylng amount of assets and Ilabllltlas Ihat are not readlly apparent from other sourte5. The èsllmat66 and a88oel8led a88umptlons 8re basgd hlstorical experlènGe other factor$ Ihat are ¢onsldered lo be relevanl. Actual results may differ from these eslimales, The esllmates and undellylng a88umplion8 ore reviewed on 8n ongolng basls. Revl$lon8 lo accounllng esllmales are recognlsed In the perlod in whlch the esllmale 1$ revl$ed wherè the r8v181on affects only that perfod, or In tho porlod cf the r¢vislo# and future perlods wherg the revl8lon affect8 both current and futur perlods. Donatlons and18gaclès Total Unre51ricled fun¢Js 2021 2020 Donatlons and glfts 16,255
CAREY CHILDCARE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 Charltabl& actfvitle Educatlon Educatlon 2021 2020 Income thIn charilgble acllvllle8 149,677 151,908 Investments Unre8trlcted fund$ To181 2021 2020 Interest recelvable 224 Charftable actlvltle9 Educatlon Educatlon 2021 2020 Staff c0818 Depreclalion and Impalrment Edvcallon 108,720 2,298 65,241 111,986 2,873 41,178 174,259 156,037 Share of governance costs (see note 71 1,200 1,224 175.459 157,261
CAREY CHILDCARE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30'SEPTEMBER 2021 Support costs Governonc• cost8 2021 Governance cosls 2020 Independent 8xamlnallon fee8 1,200 1,200 1,224 1,224 1,200 1,200 1,224 1,224 Analysed between Charitable activities 1,200 1,200 1.224 1,224 Tiust8es None of the Iruslee8 (or any por80n8 connected with them) recelved any remuneration or benefits from the charlly durlng the year. Employgos Th8 average monthly number of employe¢$ duilng the yearw88: 2021 Numbev 2020 Number Employmont costs 2021 2020 Wages and $8larle8 106,720 111,986 There were no employee8 wh050 annuol remuneration was more than £60,000. 10-
CAREY CHILDCARE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2024 10 Tanglble flxed assets Plantarid equlpmellt Cost Al 1 October 2020 29,746 AI 30 September 2021 29,748 Depieclatlon and Impalrm8nt Al 1 October 2020 Dgpieclallon charged In the year 18,255 2,298 Al 30 Seplembei 2021 20,553 Carrylng amount AI 30 September 2021 9,193 AI 30 SeptembeT 2020 11,491 11 CredIto. amounts falllng due wlthln on8 yèar 2021 2020 Other credllor8 AclIalS and deferred Income 1.1U2 1.380 2,103 2,028 2,482 4,131 12 Analys18 of net a¥s8ts bgtwegn funds Unrestrlcted Unreslrlcle funds lunds 2021 2020 Fund balances 0130 September 2021 are represented by: Tanglble as8ets Current as88lsllllalll1l8sI 9,193 26,653 11.491 49.913 35,84e 61,404 The movemènt In fL*nd8, for Ihl8 year and la$1, wholly ftlated to free reserves. 13 Relatgd party transactlon8 There werè no dlsck)$8ble related party Iransactlons dlxlny the y8ar12020- nonel- 11