CHARITY COMMISSION
Ivegill Nursery CIO
Registration number: 1159380
Annual Report and Financial Statements
31 July 2021
Ivegill Nursery CIO
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' report | 2 |
| Trustees' responsibilities | 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 |
Ivegill Nursery CIO
Reference and Administrative Details
| Charity name | Ivegill Nursery CIO |
|---|---|
| Charity registration number | 1159380 |
| Principal office | Ivegill Nursery |
| Ivegill School | |
| Ivegill | |
| CARLISLE | |
| CA4 0LN | |
| Registered office | Ivegill Nursery |
| Ivegill School | |
| Ivegill | |
| CARLISLE | |
| CA4 0LN | |
| Trustees | E J Rickerby |
| E A Blake | |
| D A Hewitt | |
| E Messenger | |
| J Harrison-Longworth | |
| Accountant | Dodd & Co Limited |
| FIFTEEN Rosehill | |
| Montgomery Way | |
| Rosehill Estate | |
| CARLISLE | |
| CA1 2RW |
Page 1
Ivegill Nursery CIO
Trustees' Report for the Year Ended 31 July 2021
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 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.
Policies and Objectives
The object of the charity is to maintain a rural Day Nursery for promoting the education of children under six years without selection or limitation save as to a maximum number. The day-to-day running of the nursery is administered by a Management Committee appointed by the Trustees and includes a parent of a child in the Nursery. The Trustees aim to provide quality care and education while keeping the fees as low as possible commensurate with this aim. The Trustees have had regard to the Commission's general guidance on public benefit and to its supplementary guidance on advancing education and on fee charging. Children over the age of 3 can receive up to the equivalent of 15 hours free per week under the government's Early Years Entitlement Funding scheme and in some cases may be eligible for 30 hours. Some 2 year-olds are also eligible.
The Nursery maintains close links with the school, in which it is situated, normally joining together for some activities and sharing resources. This has not been possible this year because of Covid. The Nursery is registered to receive Early Years Entitlement Funding and is registered with Ofsted. It is a member of the Early Years Learning Alliance.
Activities undertaken to further the charity’s purposes for public benefit
The Nursery is open 5 days a week for morning and afternoon sessions during school term times. During the year a total of 24 children attended the nursery, mainly coming from homes within a 10 mile radius.
The charity employs a full time Lead practitioner and three part time nursery practitioners. There is also one practitioners available to cover for absence. Some administration is carried out by the Lead practitioner and the rest is done on a voluntary basis by members of the Trustees. Staff attend regular in-service or online training sessions.
Financial review
Income was up slightly from last year but still lower than the previous one. This is due to the nursery having some weeks closed because of COVID-19 and only being able to operate 2 days a week between January and March, with only 6 children attending, when schools were closed.
Income came from fees from parents, Early Years Entitlement funding via Cumbria County Council and the Governments furlough scheme. £2,962 was donated to the nursery by another local nursery that was closing.
Pupil Premium funding comes as part of the education grant funding we receive from Cumbria County Council. It is restricted funds allocated to eligible children and is specifically allocated to help disadvantaged pupils. The funding can be used to purchase resources or support for that child. There were no eligible children this year.
Going Concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
Reserves Policy
We aim to hold at least £16,200 (being approximately one month of expenditure plus required redundancy payments) and no more than £50,000 (being approximately six months of expenditure plus required redundancy payments) in reserves at the year end.
As at 31 July 2021 we held £47,608 of unrestricted funds.
Constitution
The charity is constituted under a Foundation Agreement dated 27 November 2014 and is a registered charity, number 1159380.
Page 2
Iveglll Nur¥¢ry CIO Trn8tees' Report for tht Year Endod 31 July 2021 M•thod of appointsn•ntor•l•¢tion of ¢ni•t••• The management of the charity is responsi.Ity of the Trustees vtho arn o10(od and uopt•d und8r th8 t•rm• of th¢ Foundation Agre8nwnt. Appointed ¢tarity tnJsts•$ Apsrt from the first chaiity tN3lees, every appoint8d trustso rrojst be appointg¢J tyy a rpjsolution passed at a properly coned ne)"ng oflhe Charity trustees. Nonn41• tru8t• Iveoill Schgol Govemor8 fthe a[PntIng bodn may 8ppoint vp to fiv• ¢h8rity truee$. Any apF4)Trnlm8nt mu$l be madè at a me¢tino hld a¢¢tsrding lo the ordinary practice of the appointin9 body. Each appointmnt must be lor a tsrm of 3 years. The appointnt %ill be effeclNe frorn tho Ister of the date of the vacancy,. and lh8 dale on v+hi¢h the charity trust••s or thèir 58cr8tary or cl8rk are infOrd of Ihe app)intment. The person appointed need nol be a momr ol the appOin'ng boay. A trust&e 8ppoint•d ty thè appoifibng body ha8 the samè duty under dause 911) 8s Ihe other charity Irust•8s to act in thè w#y h¢ or she dle$ in good lailh WlId be Most likely to fvrth•rlh¢ wrp)$os ofth& CIO. Polkyfor thg InducUon of rmw trustw$ New Irustees meet vAth a Irustee before their first nwling for an explanaiign of the running of the chanty and receive a copy ol the constitution. tho last yearfs aonts and a link to Ihe Charity commission's publication 'Th• Ewnltal Tru$bg'. Orynlsatloml $tru¢tw• #nd d•cl¥lon maklng The Nursery is managed ty it$ 8tsard ofTrustees. Day-tO-d8y nJnn¥ng of the nurs&ry 1$ overseen by the management cormithe, thich is apwjinled by the Trn$tO0$ in Conjunction with the Lead practitioner. It includes Ihe Lead praebiiontr, anothèr mtrrt¢r ol nuwry slaff, the school Srrfanltsacher, a trustoe and o p•r•nl. Plans forfur• The Trustees afe hoping to tnuease the integration of Ihe nutsory into xh¢)ol wth the aim of taking 0r tho Nnning of the nursery eventually. App*18 by the Trustses on 28 March 2022 and on Ih¢ir behairty.. RKkefby Pag• 3
Ivegill Nursery CIO
Trustees' Responsibilities in relation to the Financial Statements
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards.
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection fraud and other irregularities.
Page 4
Independent Examiner's Report to the Trustees of
Ivegill Nursery CIO
I report on the accounts of the charity for the year ended 31 July 2021, which are set out on pages 6 to 14.
Your attention is to drawn to the fact that the Charity has prepared the financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
Respective responsibilities of trustees and examiner
The Charity's trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act; and
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state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 130 of the Charities Act 2011; and
-
to prepare accounts which accord with the accounting records, comply with the accounting requirements of the 2011 Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
......................................... Martin S Ward Dodd & Co Limited Chartered Accountants
FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA1 2RW
28 March 2022
Page 5
Ivegill Nursery CIO
Statement of Financial Activities for the Year Ended 31 July 2021
| Note Income and endowments from: Donations and legacies 2 Investment income 3 Charitable activities 4 Total income Expenditure on: Charitable activities Total expenditure Net movements in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Funds £ 48,415 31 10,469 |
Restricted Funds £ - - - |
Total Funds 2021 £ 48,415 31 10,469 |
Total Funds 2020 £ 40,653 110 9,733 |
|---|---|---|---|---|
| 58,915 | - | 58,915 | 50,496 | |
| 49,379 | 400 | 49,779 | 47,529 | |
| 49,379 | 400 | 49,779 | 47,529 | |
| 9,536 38,072 |
(400) 400 |
9,136 38,472 |
2,967 35,505 |
|
| 47,608 | - | 47,608 | 38,472 |
The notes on pages 8 to 14 form an integral part of these financial statements.
Page 6
Ivegill Nursgry CIO Balanco Shogt as at 31 July 2021 2021 2020 Flx•d •••ets Tangible assets 307 Curr•nt a•8•ts Dabtors Cash at bank and in hand 12 4.631 53.126 57.757 48,385 48,385 Cr•dltor¥.' Amounts falllng dug wlthln one year 13 110.4561 19,9131 N•t eurr•nt **••t• 47,301 38,472 N•t lets 47.608 38,472 Thè lund8 of th• tharlty: R•strlctod lunds 400 Unro8trfct•d fund8 Unrestricted incorne funds 47.608 38,072 Totsl eharlty fund# finanaal statemants havè béan prepared in ac£ordance the Finanrial Reporting Standard applicabl8 In the UK and Republic of Ireland IFRS 1021 47,608 38,472 Approved by the Board on 28 March 2022 and sKJned on its tehall by". Rickerby The not&s on pag6s 8 to 14 fomi an integral part of these financial ststements. Paga 7
Notes to the Financial Statements for the Year Ended 31 July 2021
Ivegill Nursery CIO
1 Accounting policies
Statement of compliance
The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities:Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Basis of preparation
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
These financial statements have been prepared on a going concern basis.
Fund accounting policy
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Further details of each fund are disclosed in note 16.
Income and endowments
Income from Government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Investment income is recognised on a receivable basis.
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract or where entitlement to grant funding is subject to specific performance conditions. Grant income included in this category provides funding to support programme activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Expenditure
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Page 8
Ivegill Nursery CIO
Notes to the Financial Statements for the Year Ended 31 July 2021
......... continued
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Fixed assets
Individual fixed assets costing - or more are initially recorded at cost.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Office equipment
3 years straight line basis
Cash and Cash Equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Operating leases
Rentals payable under operating leases are charged in the statement of financial activities on a straight line basis over the lease term.
Pensions
The charity operates a defined contribution pension scheme. Contributions are charged in the statement of financial activities as they become payable in accordance with the rules of the scheme.
2 Donations and legacies
| Grants Grants receivable Coronavirus Job Retention Scheme grant |
Unrestricted Funds £ 44,086 4,329 |
Restricted Funds £ - - |
Total Funds 2021 £ 44,086 4,329 |
Total Funds 2020 £ 37,470 3,183 |
|---|---|---|---|---|
| 48,415 | - | 48,415 | 40,653 |
Of the donations and legacies income in 2020 £40,253 related to unrestricted funds and £400 related to restricted funds.
3 Investment income
| Interest on cash deposits | Unrestricted Funds £ 31 |
Restricted Funds £ - |
Total Funds 2021 £ 31 |
Total Funds 2020 £ 110 |
|---|---|---|---|---|
All of the investment income in 2020 related to unrestricted funds.
Page 9
Ivegill Nursery CIO
Notes to the Financial Statements for the Year Ended 31 July 2021
......... continued
4 Charitable activities
| Nursery Nursery fees |
Unrestricted Funds £ 10,469 |
Restricted Funds £ - |
Total Funds 2021 £ 10,469 |
Total Funds 2020 £ 9,733 |
|---|---|---|---|---|
All of the income from charitable activities in 2020 related to unrestricted funds.
5 Total resources expended
| Direct costs Uniform Educational materials and equipment School lunches Hall hire Trips Insurance Repairs and maintenance Employment costs Support costs Travelling Telephone and fax Sundry expenses Accountancy fees Depreciation of office equipment |
Nursery £ 175 387 3,219 - - 719 2,503 40,694 47,697 - 634 105 1,241 102 2,082 49,779 |
Total 2021 £ 175 387 3,219 - - 719 2,503 40,694 |
Total 2020 £ 178 761 2,627 80 60 710 3,033 38,219 |
|---|---|---|---|
| 47,697 | 45,668 | ||
| - 634 105 1,241 102 |
34 595 176 1,056 - |
||
| 2,082 | 1,861 | ||
| 49,779 | 47,529 |
6 Governance costs
Accountancy fees
| 2021 | 2020 |
|---|---|
| £ | £ |
| 1,241 | 1,056 |
| 1,241 | 1,056 |
Page 10
Ivegill Nursery CIO
Notes to the Financial Statements for the Year Ended 31 July 2021
......... continued
7 Trustees' remuneration and expenses
No trustees received any remuneration or expenses during the year.
8 Net incoming resources
Net incoming resources is stated after charging:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Hire of other assets - operating leases | - | 80 |
| Depreciation of owned assets | 102 | - |
| Accountancy fees | 1,241 | 1,056 |
9 Employees' remuneration
The monthly average number of persons (including senior management) employed by the charity during the year was as follows:
| Charitable activities The aggregate payroll costs of these persons were as follows: Wages and salaries Other pension costs |
2021 No. 6 2021 £ 39,408 1,022 40,430 |
2020 No. 4 |
|---|---|---|
| 2020 £ 37,284 765 |
||
| 38,049 |
No employee received emoluments of more than £60,000 during the year (2020 - No. 0).
Page 11
Ivegill Nursery CIO
Notes to the Financial Statements for the Year Ended 31 July 2021
......... continued
10 Taxation
The registered charity is exempt from taxation on income and gains.
11 Tangible fixed assets
| Cost Additions Depreciation Charge for the year Net book value As at 31 July 2021 |
Office equipment £ 409 102 307 |
|---|---|
12 Debtors
| Other debtors | 2021 £ 4,631 |
2020 £ - |
|---|---|---|
13 Creditors: Amounts falling due within one year
| Trade creditors Taxation and social security Other creditors Accruals and deferred income |
2021 £ 1,140 - 3,008 6,308 10,456 |
2020 £ - 234 2,636 7,043 |
|---|---|---|
| 9,913 |
14 Pension scheme
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the charity to the scheme and amounted to £1,022 (2020 - £765).
Contributions totalling £nil (2020 - £91) were payable to the scheme at the end of the period and are included in creditors.
Page 12
Ivegill Nursery CIO
Notes to the Financial Statements for the Year Ended 31 July 2021
......... continued
15 Related parties
Controlling entity
The charity is controlled by the trustees.
Related party transactions
There have been no related party transactions in the year.
16 Analysis of funds
| At 1 August 2020 Incoming resources Resources expended £ £ £ General Funds Unrestricted income fund 38,072 58,915 (49,379) Restricted Funds Restricted income fund 400 - (400) 38,472 58,915 (49,779) estricted fund of £400 relates to a donation for the purchase of computer equipment. Prior period At 1 August 2019 Incoming resources Resources expended £ £ £ General Funds - Unrestricted income fund 35,505 50,096 (47,529) Restricted Funds Restricted income fund - 400 - 35,505 50,496 (47,529) |
At 1 August 2020 Incoming resources Resources expended £ £ £ General Funds Unrestricted income fund 38,072 58,915 (49,379) Restricted Funds Restricted income fund 400 - (400) 38,472 58,915 (49,779) estricted fund of £400 relates to a donation for the purchase of computer equipment. Prior period At 1 August 2019 Incoming resources Resources expended £ £ £ General Funds - Unrestricted income fund 35,505 50,096 (47,529) Restricted Funds Restricted income fund - 400 - 35,505 50,496 (47,529) |
At 31 July 2021 £ 47,608 - 47,608 At 31 July 2020 £ 38,072 400 38,472 |
|---|---|---|
| - | ||
| (47,529) |
The restricted fund of £400 relates to a donation for the purchase of computer equipment.
The restricted fund of £400 relates to a donation for the purchase of computer equipment.
Page 13
Ivegill Nursery CIO
Notes to the Financial Statements for the Year Ended 31 July 2021
......... continued
17 Net assets by fund
| Tangible assets Current assets Creditors: Amounts falling due within one year Net assets |
Unrestricted Funds £ 307 57,757 (10,456) 47,608 |
Restricted Funds £ - - - - |
Total Funds 2021 £ 307 57,757 (10,456) 47,608 |
Total Funds 2020 £ - 48,385 (9,913) |
|---|---|---|---|---|
| 38,472 |
Prior period
| Unrestricted Funds £ Current assets 47,985 Creditors: Amounts falling due within one year (9,913) Net assets 38,072 |
Restricted Funds £ 400 - 400 |
Total Funds 2020 £ 48,385 (9,913) 38,472 |
Total Funds 2019 £ 41,700 (6,195) |
|---|---|---|---|
| 35,505 |
Page 14