CAREY CHILDCARE CENTRE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Charity registration number 1157278
Company registration number 08207587 (England and Wales)
CAREY CHILDCARE CENTRE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr R J Spalding Mr I W Argile Mr G R Lewis Miss J Pickles Charity number (England and Wales) 1157278 Company number 08207587 Registered office Carey Baptist Church Pole Street Preston Lancashire PR1 1DX Independent examiner Champion TLL Limited 7-9 Station Road Hesketh Bank Preston Lancashire PR4 6SN
CAREY CHILDCARE CENTRE
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 12 |
CAREY CHILDCARE CENTRE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2024
The trustees present their annual report and financial statements for the year ended 30 September 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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 2019).
Objectives and activities
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. This facility comprised 4 play rooms, a dining/recreation hall, outdoor playground, offices, kitchen and toilets. We accommodated some 40 children (aged between 6 months and 4years) each week, with generally 25 in the Nursery at any one time. The children were tutored by 8 qualified full-time staff, assisted by a cook, and cleaners. We hold a four star rating for our kitchen.
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.
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 simple Christian Education, football, and music lessons.
We continuously monitor the effectiveness of our educational programme, our staff performance, and the health and safety and fire safety of our premises.
Increasing numbers of children have allowed us to recruit 2 additional staff.
An OFSTED inspection was held on 23RD April 24, and we were rated a ‘Good’ Nursery, and stating: ‘Children who attend this Nursery experience warmth and love in abundance’.
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CAREY CHILDCARE CENTRE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
Achievements and performance
Significant activities and achievements against objectives
Significant activities
We tracked the progress of each child against the EYFS learning objectives, and adjusted our activities to develop areas where children excelled, 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 is reviewed with parents. We continuously updated our play equipment and facilities.
We have opportunities for the children to participate In simple Christian Education. We continuously monitor the effectiveness of our educational programme, our staff performance, and the health and safety and lire safety of our premises.
Some staff turnover has occurred, and we have recruited replacements during the year.
Our last OFSTED inspection was held on 18th June 2018, and we were rated a 'Good' Nursery. A further inspection in 2024 has confirmed this rating.
Financial review
The Trustees regularly review the level of cash funds held. Any amounts held in excess of that required for day-today use are deposited in order to earn additional interest where possible.
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 £68,000.
Our financial reserves are stable, because we continue to benefit from reduced rent from our owners, Carey Baptist Church
At the year end free reserves amounted to £41,065 (2023: £55,885) which equates to 1.8 months running costs.
Investment policy
The Trustees regularly review the level of cash funds held. Any amounts held in excess of that required for day-today use are deposited in order to earn additional interest where possible.
The trustees regularly consider the risks faced by the charity and take action where appropriate.
Structure, governance and management
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.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr R J Spalding Mr I W Argile Mr G R Lewis Miss J Pickles
Recruitment and appointment of trustees
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.
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CAREY CHILDCARE CENTRE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
The trustees' report was approved by the Board of Trustees.
Mr R J Spalding Trustee
23 June 2025
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CAREY CHILDCARE CENTRE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CAREY CHILDCARE CENTRE
I report to the trustees on my examination of the financial statements of Carey Childcare Centre (the charity) for the year ended 30 September 2024.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Champion TLL Limited
P Bell ACCA 7-9 Station Road Hesketh Bank Preston Lancashire PR4 6SN Date: ............................ 25/06/2025
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CAREY CHILDCARE CENTRE
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Charitable activities | 3 | 258,814 | 244,424 |
| Total income | 258,814 | 244,424 | |
| Expenditure on: | |||
| Charitable activities | 4 | 273,094 | 211,381 |
| Total expenditure | 273,094 | 211,381 | |
| Net income/(expenditure) and movement in funds | (14,280) | 33,043 | |
| Reconciliation of funds: | |||
| Fund balances at 1 October 2023 | 55,885 | 22,842 | |
| Fund balances at 30 September 2024 | 41,605 | 55,885 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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CAREY CHILDCARE CENTRE
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 10 | 4,707 | 5,884 | ||
| Current assets | |||||
| Cash at bank and in hand | 38,337 | 50,861 | |||
| Creditors: amounts falling due within | 11 | ||||
| one year | (1,439) | (860) | |||
| Net current assets | 36,898 | 50,001 | |||
| Total assets less current liabilities | 41,605 | 55,885 | |||
| The funds of the charity | |||||
| Unrestricted funds | 12 | 41,605 | 55,885 | ||
| 41,605 | 55,885 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 23 June 2025
Mr R J Spalding Trustee
Company registration number 08207587 (England and Wales)
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CAREY CHILDCARE CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
1 Accounting policies
Charity information
Carey Childcare Centre is a private company limited by guarantee incorporated in England and Wales. The registered office is Carey Baptist Church, Pole Street, Preston, Lancashire, PR1 1DX.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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CAREY CHILDCARE CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment 20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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CAREY CHILDCARE CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
1 Accounting policies
(Continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.9 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Education | ||
| Sale of goods | 258,814 | 244,424 |
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CAREY CHILDCARE CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
4 Expenditure on charitable activities
| Education | Education | ||||
|---|---|---|---|---|---|
| 2024 | 2023 | ||||
| £ | £ | ||||
| Direct costs | |||||
| Staff costs | 218,414 | 166,812 | |||
| Depreciation and impairment | 1,177 | 1,471 | |||
| Education | 52,383 | 42,238 | |||
| 271,974 | 210,521 | ||||
| Share of support and governance costs (see note 5) | |||||
| Governance | 1,120 | 860 | |||
| 273,094 | 211,381 | ||||
| Analysis by fund | |||||
| Unrestricted funds | 273,094 | 211,381 | |||
| 5 | Support costs | ||||
| Governance | 2024 | Governance | 2023 | ||
| costs | costs | ||||
| £ | £ | £ | £ | ||
| Independent examination | |||||
| fees | 1,120 | 1,120 | 860 | 860 | |
| 1,120 | 1,120 | 860 | 860 | ||
| Analysed between | |||||
| Charitable activities | 1,120 | 1,120 | 860 | 860 | |
| 6 | Net movement in funds | 2024 | 2023 | ||
| £ | £ | ||||
| The net movement in funds is stated after charging/(crediting): | |||||
| Fees payable for the independent examination of the charity's | financial | ||||
| statements | 1,120 | 860 | |||
| Depreciation of owned tangible fixed assets | 1,177 | 1,471 |
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
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CAREY CHILDCARE CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
8 Employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries |
2024 Number 11 2024 £ 218,414 |
2023 Number 10 |
|---|---|---|
| 2023 £ 166,812 |
There were no employees whose annual remuneration was more than £60,000.
9 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
10 Tangible fixed assets
| Cost At 1 October 2023 At 30 September 2024 Depreciation and impairment At 1 October 2023 Depreciation charged in the year At 30 September 2024 Carrying amount At 30 September 2024 At 30 September 2023 11 Creditors: amounts falling due within one year Other taxation and social security Accruals and deferred income |
Plant and equipment £ 29,746 29,746 23,862 1,177 25,039 4,707 5,884 2024 2023 £ £ 425 - 1,014 860 1,439 860 |
Plant and equipment £ 29,746 29,746 23,862 1,177 25,039 4,707 5,884 2024 2023 £ £ 425 - 1,014 860 1,439 860 |
|---|---|---|
| 29,746 | ||
| 23,862 1,177 |
||
| 25,039 | ||
| 4,707 | ||
| 5,884 | ||
| 2023 £ - 860 |
||
| 860 |
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CAREY CHILDCARE CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
12 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 General funds Previous year: At 1 General funds |
October 2023 Incoming resources Resources expended At 30 September 2024 £ £ £ £ 55,885 258,814 (273,094) 41,605 October 2022 Incoming resources Resources expended At 30 September 2023 £ £ £ £ 22,842 244,424 (211,381) 55,885 |
|---|---|
13 Analysis of net assets between funds
| Unrestricted | |
|---|---|
| funds | |
| 2024 | |
| £ | |
| At 30 September 2024: | |
| Tangible assets | 4,707 |
| Current assets/(liabilities) | 36,898 |
| 41,605 | |
| Unrestricted | |
| funds | |
| 2023 | |
| £ | |
| At 30 September 2023: | |
| Tangible assets | 5,884 |
| Current assets/(liabilities) | 50,001 |
| 55,885 |
The movement in funds, for this year and last, wholly related to free reserves.
14 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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