Ivegill Nursery CIO Registration number: 1159380 Annual Report and Financial statements 31 July 2024 dOdd&co
Ivegill Nursery CIO Contents Reference and Administrative Details Tnjstees, report Tnjstees, responsibilities Independent examine$ report Statement of financial activities Balance sheet Notes to th8 finanGial statements
Iveglll Nursery CIO Reference and Administrative Details Charfty namé Ivegill Nursery CIO Charity roglstration nurnbor 1159380 prtnclpal office Ivegill Nursery Ivegill School Ivegill CARLISLE CA4 OLN Regl8tsred offlce Ivegill Nursery Ivegill School Ivegill CARLISLE CA4 OLN Tru•tee8 E J Rickerby E A Blak8 D A Hewitt (Resigned 3 October 20241 E Messenger S Sims (Resigned 3 October 2024) S L Creighton (Appolntsd 24 April 2024) KAHan IAppolntad 24 April 20241 Accountant Dodd & Co Limited FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA12RW Page 1
Ivegill Nursery CIO Trustees. Report forthe Year Ended 31 July 2024 The financial statements have been prepared in accordan wth the accounting policies set out in notes to Ihe accounts and comply with the charity's governing document, the Chanlies Act 2011 as amended by the Charities Act 2022 and Accounting and Reporting by Charities.. Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Iréland. Pollcles and Obl8ctlvo8 The object of the charity is to maintain a rural Day Nursery for Promoting the education of children under six years thout selection or limilalion save as to a maximum number. The day-to-day running of the nursery is administered by the Lead Practitioners. Th8 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 guidana8 on public benefit and to its supplemenlary guidance on advancing eduGation and on lee ch8rging. 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 heurs. Some 2-year-olds are also 8ligible. Thè Nursery maintains close links with the school, In whlch it is situated, normally joining togeth6r for some activities and sharing resources. The Nur38ry is regislar8d to receive Early Y88rs Entitlement Funding and is registered with Qfstsd. It is a member of the Early Years Learning Alliance. Actlvitieg undertaken to furthor tha charfty'8 purpo8e8 for publlc b8n8flt The Nursery 15 open 5 days a week for morning and afternoon sessions during school term times. During Ihe year a totsl of 22 children attend6d the nursery, mainly coming from homes within 8 10-mile radius. A music session is held once a week for younger children with their parents. 4 further children attended this. The nursery was inspecl8d by Ofsted in Maroh 2024 and rated Outstanding in all areas. The charity employs a full lime Lead practitioner {at present this post is shared by paoplel and part time nursery practitioners. There are also two practitioners available to cover for absence. Stsm8 administration is carried out by the Lead practitioners and the rest is done on a voluntary basis by members of the Trustees. Staff 8tt6nd regular In-servi or online training sessions. Flnanelal ravlow During the year the 31 July 2024 incom8 of £57.079 {2023 £42,308) was received and tot81 expenditure amounted to £57,26212023 £54,852). A deficit of £18312023 - 12,3441 was therefore achieved in the period. These accounts also reflect closing réseNes of £3g,032 (2023 - £39,215), 811 of which are unrestricted in both periods. Low&r attendancE, mainly due lo a drop In blrth rate, meant that income fell short of expenditure Ihls year bLrt th8 shortfall came from reserves. Income cam8 from fees from p8renls and Earty Years Entitlemenl funding Weslmorland & Furness Council. Pupil Premlum funding comes as part of the educatSon grant funding we feeelve from Westmortand & Fumess Council. It is restricted funds 811ocated to eligible children and is specifically allocat8d to help disadvantaged pupils. The fvnding can be used to purch8s8 r8sourc88 or support ft)r that child. One child was 81Sglble for Ihls during the summertemi. Golng Concarn After making appropriate enquiries, the Trnslees have 2 reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable fijture. For this reason they continue to adopt the going cOnM basis in preparing the financial ststements. Furth8r details regarding the adoption of the going concem basis can be found in the accounting policies. R88erv85 Pollcy We aim lo hold at least £16,000 Ibeing approximately one month of expenditure plus requiod redundancy payments) and no more than £50,000 {being approximately six months of expenditure plus required redundancy payments) in reserves at the year end. Page 2
Ive11 Nur8ory CIO Tru Repwt for the Y•ar Endod 31 July 2024 As at 31 Juty 2024 vn held £38A83 01 frog rns•ms (2023. £38.680). Free reservts encompass all unrestrithd dmrity w conatiiui•d • FIXffofi nftt dat•d 27 November 2014 and Is • r•gislernd dwity. numbw 1159380. M•thod al •ppolfttm•rt or •l•ctlon ollnAt Th• manageff1 of the eharity IJ tho r•gpon$fc4lity af the Truilws ar• eloctwj and cD4l•d under th• hpart frm tho firnt cknty trusW•S. •wry •ppoint•d tru8tw mug1 b• appolnt•d by a r•¥olullon psJ•d at • properfy cnV•ned mo•tiry oltho ¢hwlty Irugt•• Iv•gll Scool Gov•morn fth• ap19 bodn may appolnt UP lo ilw drIty truslttj. Ary appolnthi8nl rnust b• mad• •t a meethffj held accvrdinp to the ordinary PT•e of thè Appointlng boay. Eath appolr+lmonl n451 for • terni of 3 yews. Iho •ppolnthwII ill b• •lloc4lv• Imm th• lalw ol the dat• ol th• v•cancy: ar the dat• ¢)n Ihe tharity IruoJ or thw s•ry•t•ry or d•rft •rn irrfOrM oftho apportment. Th• app01n1 r•d not be 4 m•rnb•r of tho apPntIng body. A Img1•o aPPnIed by tho •ppolfitlng l)otty has lh• duty undor daus• 9(1) as th• olh•r thwity tsw•l••J to •ct in th• way he or d•dd•g In go¢)d faith ¥•vuld b• mojl IIW io lurthortho purpoJ•s of th• CIO. rneèi¥e a copy of 1h• cMslltyJbon. th• y•rfs arKI * Ilnk to th• Ch•lty ea)mmlskn's wl1¢all( Th• Nws•ry li m•n•wl ty ft8 8o•Jd Plan• Unfothn•t•ty. th• 1 tr th• ad1 gtsv to tsk• ov•r Ihe h3$ lallen Ihmugh so wll bo ctythuHvJ forth• fornsooabl• fulurn. Wth rABnrfng In mind. th• S[K govemoro hm •ppoirtod t¥ n•w trusttss ts lh• CIO. trugtO•S w)uld Ilke to ¥x¥we tho nunbers alknithrY4 tho nu arvj
Ivegill Nursery CIO Trustees. Responsibilities in relation to the Flnancial Statements The t¥uslees are responsible for preparing the Trustees, Report and the financial statements in accordanc£ wth applicable law and United Kingdom Accounting Stsndards. 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 resOUrS and application of resources of the charity for that period. In preparing these financial ststements, the trustees are required to.. sèlect suitable accounting policieg and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and esllmales that are reasonable and prud8nt', state whether applicable accounting standards hav8 been followed, subject to any material departures disdosed and explained in the financial st8t8ments', and prepare the financial statements on the going concem basis unless it is inappropriat& to presume that the charity will continue in business. The tnjstees are responslble for keeping proper accounting records that dlsclos8 wlth reasonable accuracy at any time the financial position of th8 charity and enablé them to ensure that the financial statsmenls comply with the Charities Act 2011 as amended by the Charities Act 2022, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. They are responsible for safeguarding the assets of the charity and hanc8 for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Page 4
Independent Examlnefs Report to the Trust8es of Ivegill Nursery CIO I report on the accounts ofthe charity for thé year ended 31 July 2024, 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 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recomrnended practi issued on 1 April 2005 which is referred to in the extant regulations but has sinc8 been wthdrawn. We understand that this has been done in order for the accounts to prOlde a true and fair view in accordance with the Generally Apted Accounting Practice effective for reporting psriods beginning on or after l January 2019. R88pectlva r88ponsibiliti68 of trugt883 and axamlner The Charity's trustees are responsible for the preparation of the accounts. The trustees consid6r that an audit is not required for this year under section 144121 of the Charities Act 2011 as amended by the Charities Act 2022 (the Act) and that an independent èxamination is needed. It Is my SponsIbl11ty to.. examine the accounts under sectlon 145 of the Act; follow the procedures laid down in the General Directions given by the Ch8rlty Commission undar sectlon 145 {5) {b) of the Act,, and stats whether particular matters hav6 come to my attention. Bas18 of Indapéndont examlnerf8 report My examination was carried out In accordance wtth the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by thè charity and 8 comparison of the accounts presented wlh those r8cords. It also includes consideration of any unusual item5 or disclosures in the 8ccount$, and seeking explanations from you as trustees conc£rning any such matters. The procedur8s undertaken do not provide all the evidence that would be required in an audit and consequently no opinion Is glven as to whether the accounts prtsénl a 'true and fair view and the report is limited to thosè mattèrs set out in the statement below. Independent•xamlnarf8 ststgment In conn6cts.on wth my examination, no matter has come to my attention.. {11 which gives me re8sonable cause to believe that in any material respect the requirements.. lo keep accounting records in accordance with section 130 of the Charities Act 2011 as amended by the Charities Act 2022; and to prepare 8ccounts which accord with the accounting reccrds, comply with Ihe accounting requirements of the Act havè not b8en mel.. or 121 to which, in my opinion. attention should b8 dravm in order to enable a proper understanding of thè accounts to be reaGhed. FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA12RW Martin BotTadaile ACA Dodd & Co Limited Chartered Accountants Page 5
Ivegill Nursery CIO Statement of Financlal Actlvltles for the Year Ended 31 July 2024 Unrestrlcted Restrictsd Total Funds Totsl Funds Funds Fund8 2024 2023 Note Incomo and ondowm¢nt8 from: Charilabl8 act(vitles Total income 57,079 57,079 57,079 57,079 42,308 42,308 Expendltura on: Charitable activities Total expanditure 56,963 56,963 56,963 56,963 54,652 54,652 Nat movaments in fijnds 116 116 (12,344) Reconciliation of fund8 Totsl fvnds brought foNard Total funds carried fomard 39,215 39,331 39,215 39,331 51,559 39,215 The notes on pages 8 to 14 fom an integral part of these financi81 statements. Page 6
Iveglll Nurnwy CIO Balance Shoot a8 at 31 Juty 2024 2024 2023 Flx•d a•set• Tangible asgats 549 10 Cash at bank Ind in hd 39,850 41,850 Crndftarn: Amaurt• hlllng du• wllldn on• 39,331 39,215 Th• fund• frfth• chirfty. Unr•slrf¢t•d fund• Unr•strld•d Inc¢mo nd1 39.331 39215 Tol•l ehartty fund• Th• Inandd $18t•m•nts ha war•d in Ko)rd•nc• th lh• FlnoTh*1 R•portlNJ 8twrfknrd appllo•bl• In Iho UK and Reputylc of If•l•nd (FRS 102). fcb
Mved by th• Board ¢)n 2025 and *n•d on h b•lwlfby: Tw
Ivegill Nursery CIO Notes to the Flnancial Ststements for the Year Ended 31 July 2024 Accounting pollci86 Statsmènt of compliance The accounts (financial statsments) have been prepared under the historical cost convention with items recognised at cost or transaction valuè unless othermrise stated in the relevant notelsl to these accounts. The financial statements have been preparad in accordan with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Stsndard applicabl8 in the United ngdorn and Republic of Ireland {FRS 102) and the Charities A¢t 2011 as amènded by the Charities Act 2022, The accounts (financial statements) have been prepared to givé a 'true and fair, view and have depart8d from the Charities (Accounts 8nd Reports) Regulabons 2008 only to the exient required to prowde a 'true and fair view,. This departure has involved following Accounting and Reporting by Charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 rather than the Accounting and Repong by Charities.'Stalernent of Recommended Practir effective from 1 April 2Q05 which has since been withdrawn. Bag18 of prèparatlon The charity rneets the definition of a publlc benefit entity under FRS 102, Assets and liabllities are Initially recognised at historical cost or transaction value unless otherwse stated in the relevant accounting policy notes. Golng concern These financial statements have be8n prepared on a going conc8m basis. Fund accountlng pollcy Unrestricted incorne funds are general funds that are available for use at the trustees, discretion in furtheranc£ of the objectives of the chanty. Further details of each fund are disclosed in note 14. Incoffle and andowments Income from Government and other granls, whether'capital, grants or 'revenue' grants, is recognised when thè chsrity has enliilement to the funds, any perfomiance condits'ons attached to the grants have been met. It Is probable that the income wll be received and the amount can be measured reliably and is not deferred. Income from charitable activiti88 includes income recognised a8 eamed las the related goods or services ar8 provldedl under ¢ontrad. Expondlturo Liabilities are reGognised as soon as there Is 8 legal or constructive obligatlon committlng the ¢harity to the expenditure. All expenditure is acGounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Charitable eypenditur8 comprises those costs incurred by the charity in the delivery of its activities and services for its benefiGiaries. It includes both costs that can be allocated dir8Ctly lo such activities and those costs ofan indirect nature necessarylo supportthem. Support costs Support costs indud8 central functions and hava been allocated to activity cost categories on a basis consistent with the use of resources, for example. allocating propety sts by tloor areas, or per capita. staff costs by the lime spent and other costs by their usage. Page 8
Ivegill Nursery CIO Notes to the Financial Statements for the Year Ended 31 July 2024 . conlinu8d Flxod a8S0ts Individual fixed assets costing - or morg are initially recorded at cosL Dapreclatlon DeprecAation 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.. Plant and machin&ry including motor vehide8 Office equipment 150h reducing balance basis 3 years Straight line basis Cg8h and Cash Equlvalent8 Cash and cash equivalents comprise cash on hand and call deposits, and other short-tenn highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Pen81on8 The chartty operatss 8 defined contribution pension scheme. Contributlons 8r8 chargad in the statement of financial activities as they become payable in accordance with the rules of the scheme. Charltablo a¢tlvltle8 Unre8tri¢tod R08trictod Total Funds Total Funds Funds Funds 2024 2023 Nur8Ory Nursery fees Grants receivable 7,865 49,214 57,079 7,865 49,214 57,079 12,614 29,694 42,308 All of the incorne from ch8ritable activitiés in 2023 related to unrestricted funds. Page 9
Ivegill Nursery CIO Notes to the Financial Statements for the Year Ended 31 July 2024 . continued Total resourc88 8xp8ndad Nur86ry Total 2024 Total 2023 Dlroct C08ts Educational materials and equipment School lunches Insurance Repairs and maintenanc Employm8nl costs 134 2,334 790 4,184 46,110 53,552 134 2,334 790 4,184 46,110 53,552 332 2,737 754 4,301 43,715 51,839 Support costs Telephone and fax Sundry expenses Advertising Accouni8n¢y fees Legal and professional fees 08preciation of offic£ equipment 84g 252 849 252 757 341 65 1,356 70 224 2,813 2,084 70 156 3,411 2,084 70 156 3,411 56,963 56,983 54,652 Govamancg c08ts 2024 2023 Accountancy fees Legal and professional fees 2,084 70 2.154 1,356 70 1,426 All of the expenditur8 in 2023 related to UnstrICted fiJnds. Trustees. remunoration and expenses No trustees r8L*ived any remuneration or expenses during the year. Page 10
Ivegill Nursery CIO Notes to the Flnancial Statements for the Year Ended 31 July 2024 . continued Net Incomlngl{outgolng) r080urc08 Net incomingl{oulgoing) resourtss is stated after charging.. 2024 2023 Depreciation of owned assets Accountancy fees 156 2,084 224 1,356 Employoes, romunoratlon The monthly average number of p6rsons (induding senior management) employed by the charity during the year was as follows.. 2024 Na. 2023 Na. Charitable activitl8S The aggregate payroll costs oflhese persons were 8$ follows: 2024 2023 Wages and saleries Other pension costs 44,629 1,004 45,633 42,496 996 43,492 No employee received emoluments of more than £60,000 during thg year {2023- No. 01. Page 11
Ivegill Nursery CIO Notes to the Flnancial Statements for the Year Ended 31 July 2024 . continu8d TaxatIon The registered charity is exempt from taxation on income and gains. Tangible fixed assets Plant and ma¢hlnery including motor vohicla8 Office equipment Total C08t As at 1 August 2023 Additions As at 31 July 2024 617 409 170 579 1,026 170 1,196 617 Depréelallon As at 1 August 2023 Charge for the year As at 31 July 2024 117 74 191 374 82 456 491 156 647 Not book valuo As at 31 July 2024 AS at 31 July 2023 426 500 123 35 549 535 10 Debtors 2024 2023 Prep8yments and accrued income 2,000 11 Credltors: Amounts falllng due wlthln one year 2024 2023 Trade creditors Taxation and social security Accruals and deferred income 100 636 2,332 3,068 1,686 141 6,097 7,924 Page 12
Ivegill Nursery CIO Notes to the Flnancial statements for the Year Ended 31 July 2024 . continued 12 Penslon 6cham& Dellned Contrlbutlon penslon schema The charity operates a defined contribution pension scheme, The pension cost charge for th8 P8ri0d represents contributions payable by the ch8rty to the scheme and amounted to £1,00412023- £996). There were no outstanding or prepaid contributions at either the beginning or end of the financial year. 13 Related partlè8 Controlllng antity The charity is controlled by the trustees Related party tran8a¢tion8 E J Rickerby made small cash 8dvances lo the charity for rniscellaneou5 operating expenses over the course of the year, These funds were held in petty cash and have been repaid during the Gurrent year. 14 Analy81$ of fund8 At 1 August 2023 Incomlng re80ur¢e8 R080urc88 Oxpondod At 31 July 2024 Ooneral Funds Unrestrictsd income fund 39,215 57,079 {56,9831 39,331 Ra8tri¢ted Fund8 Restricted income fund 39,215 57,079 {56,963 39,331 Page 13
Ivegill Nursery CIO Notes to the Financial Statements forthe Year Ended 31 July 2024 . continued Prlor perSod At 1 August 2022 Incomlng re80ur¢e8 Re60ur¢es expendod At 31 July 2023 General Fund8 Unrestricted income fund 51.559 42,308 {54,652) 39,215 Restrlctsd Fund8 Restricted income fund 51,559 42,308 {54,6521 3g,215 15 Net a888ts by fund Unre8trlcted Funds Total Funds 2024 Total Fund8 2023 Tangible assets Current 8ssets Creditors.. Amounts falllng due withln one year Net assets 549 41,850 {3,068 39,331 549 41,850 3,068) 39,331 535 46,604 17,924 39,215 Prlor perlod Unrestrl¢ted Funds Total Funds 2023 Total Funds 2022 Tangible assets Current assets Creditors.. Arnounts falling due within one year Net assets 535 46,604 {7,9241 39,215 535 46,e04 (7,g241 39.215 759 52,405 (1,8051 51,559 Page 14