**REGISTERED CHARITY NUMBER: 1160913** 

## **REPORT OF THE TRUSTEES AND** 

**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024** 

**FOR** 

**CYGNETS EDUCATION AND CHILDCARE TRUST** 

Cooper Adams Ltd 12 Payton Street Stratford upon Avon Warwickshire CV37 6UA 



**CYGNETS EDUCATION AND CHILDCARE TRUST** 

## **CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 August 2024** 

||**Page**|
|---|---|
|**Report of the Trustees**|1 to  5|
|**Independent Examiner's Report**|6|
|**Statement of Financial Activities**|7|
|**Statement of Financial Position**|8|
|**Statement of Cash Flows**|9|
|**Notes to the Statement of Cash Flows**|10|
|**Notes to the Financial Statements**|11 to  15|
|**Detailed Statement of Financial Activities**|16|





**CYGNETS EDUCATION AND CHILDCARE TRUST** 

## **REPORT OF THE TRUSTEES for the Year Ended 31 August 2024** 

The trustees present their report with the financial statements of the charity for the year ended 31 August 2024. 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 2019). 

Our guide to action for the New Year is to continue to focus on collaboration between our now 2 sites, in the wake of the reshaping of the Organisation. There will be challenges, with hugely increased personnel costs, but with more balanced results between sites and good reserves we are well placed to deal with them. 

## **Chair's Report** 

Trustees are key to our Organisation, being one is not onerous but comes with responsibilities and a certain time commitment that is financially unrewarded. I like to think our trustees do feel rewarded in other ways; though they are most often the unseen face of the Organisation, they do know the importance of the work they do and how valued they are - thank-you. 

This report is an executive summary with key facts. The main report is organised under the primary headings we use in our business plan and other plans and reports but the sections are still related to Managers lead responsibilities, aligned to the statutory requirements of the Early Years Foundation Stage. Contributions reflect on what happened last year but also what we hope to achieve in the future. 

Now we only have 2 sites numbers are not comparable with previous years but we started the year 2023/24 with 158 children on roll, including babies and Out of School Club, by the end of the year we had 170 on roll. Again, as we have fully participated in the expansion of funded places, we cannot draw comparison with the previous year other than to say that the percentage of funded children has increased. At the start of the year 53 children or around 33.5% of the total were funded children but by the end of the year 88 or 52% were in receipt of some sort of funding. It is worth noting that of the of 104 children on roll over 2 years of age around 84.5% were funded. Both sites received some additional Early Years Pupil Premium funding for 3 to 6 children over the course of the year and Disability Access Funding was received for 1 other child, enabling us to make improvements to benefit the learning environment for these children and others sharing facilities. 

Previously at Alveston virtually all funded places were taken during the core hours but, starting to make adjustments, in line with our new business operating model this broadened somewhat. The new business model will be fully implemented next year in response to the expansion of funding and the dwindling of OOSC demand which, particularly at Alveston, has been replaced with provision organised by the school. Broad Street also started to make adjustments to ensure a good level of occupancy across all hours of the day. 

Staff numbers have reduced now there are only 2 sites, we have 33 staff, though not all are full time, plus 4 bank staff, with additional support staff on top. We, like everyone else, were touched by the recruitment crisis and higher levels of sickness absence but navigated well through this difficult period, with a big thank- you to our loyal staff, many of whom worked extra hours to give cover. We took advantage of the Covid Recovery and Early Years Professional Development programmes as well as apprenticeship schemes. There were 2 Time to Talk champions and a forest school trained facilitator in our teams, also we held 1 WIncKS award (Warwickshire Inclusion Kitemark scheme). 

HR support remained contracted out to Avensure, an external company, and most cleaning requirements were also externally met by Service Master Clean but we took on another cleaner at Alveston. We banked with Lloyds and Cooper Adams Accountants provided a financial service. The Legal and General pension scheme met all regulatory requirements. 

All areas of the Early Years Foundation Stage statutory requirements, with changes incorporated, were reviewed by lead managers, reporting directly to the Trust.  The Learning and Development plus Safeguarding requirements were all met including training. There have been no serious incidents to report over the period to 31/08/24. Annual fee and salary reviews were undertaken, our Reserves policy was looked at in the year at agreed points, along with financial and other key documents. 

We spent a lot of money on refurbishment of our premises, particularly at Alveston and were pleased that the kitchen revamp there resulted in a 5 star environmental health rating. This result was also replicated at Broad Street when they had their inspection. Good communication with parents, balanced with time working directly with children, will be facilitated by new administration software linked to our existing Eylog system, we look forward to integrating and using the new features into the new year. 

Page 1 



**CYGNETS EDUCATION AND CHILDCARE TRUST** 

## **REPORT OF THE TRUSTEES for the Year Ended 31 August 2024** 

## **ACHIEVEMENT AND PERFORMANCE Personnel** 

## **Suitable People** 

We finished the year with full staff teams on each site, supported by Sam Allison in the Lead Operational role, coordinating between the management team and trustees. 

Levels of sickness continue to be a challenge.  Alveston who, in addition to three staff members on longer term sick leave, still have levels of staff sickness that regularly trigger our sickness management strategies, in consultation with Avensure.  Bank staff, Manager's and office staff have been our first choice in covering in the classroom, with agency used as a last resort. 

Broad Street finished the year with 10 members of staff.  Led by Vicki Dickson, the Broad Street team has a full-time classroom coordinator, one further level III supervisor, one level III assistant, one level III apprentice, one level II assistant and an unqualified OOSC assistant.  In the classroom they are also joined by a Level II member of bank staff who also provides cover where needed as well as 1:1 support for a child in receipt of inclusion funding.  The team is supported by a part time admin assistant and a cook. 

Alveston have a team of 23 who are Led by Karen Millar with Michelle Smiton as Deputy.  The classroom is staffed by one level V supervisor, five level III supervisors (one who also holds the role of cook and one currently on long term sick leave), a Baby Room coordinator & deputy, three level III assistants, two level III apprentices, three level II assistants and a Level II apprentice. They are also supported by four members of bank staff. One of the most experienced level III supervisors also acts as 'Person in Charge' when neither manager is on site. 

During the year our support manager left and as the Organisation now has only two sites it was decided it was not necessary to replace her.  Site managers have taken back responsibility for their own staff recruitment, HR and training supported by Sam Allison. 

At the end of the year the trust had six members, led by Linda Findon (Chair and care taking the treasurer's role) with two foundation trustees, two parent trustees and one employee trustee (Clerk).  Recruitment is ongoing for parent trustee/s, especially at Alveston and also for a permanent treasurer. 

## **Training** 

Alveston have three trainees working toward Level III (two are due to complete this academic year and the other has recently paused training until she is in a better position to continue). One further trainee will begin working toward a Level II next year.  The Deputy Manager has completed the fully funded EYPD (Early Years Professional Development) training that was offered as part of the Covid Recovery training program.  They also have a Level III supervisor who is partway through the Time to Talk training, which will result in her being a full Time to Talk Champion by the end of 2024/25, this has also been funded through the recovery program. At Broad Street the Manager is part way the EYPD training, which will be completed year 2024/25. They also have a Level III trainee due to complete early in the Spring Term 2025.  Already an experienced child care assistant, she is also booked to complete the Time to Talk program which would give Broad Street two Champions as the Manager also completed the full Time to Talk training through funding this year. 

Two members of the management team completed their required refresher training to enable them to continue as Designated Safeguarding Lead's along with the three other managers who remain current.  All Manager's have had Safeguarding Recruitment Training and continue to refresh this training periodically. 

We continued with our established group 1st Aid training courses, with one group per year on a rolling 3 year programme to keep all our qualified staff up to date. 

## **Learning and Development** 

The L & D lead at Alveston has been on long term sick leave and the temporary caretaker role was given to Danielle M on the practical side but still with KM closely overseeing all L & D on site. At Broad Street VD led L &D alongside MS.  SA provides the overall lead in this area and co-ordinates joint meetings, reviews and policy. VD & MS carried out the SENDcO role at BS with SJ at Alveston. 

The Cygnets Evaluation Form had an annual review by the management team and was updated accordingly. The decision was made toward the end of the academic year to concentrate self-evaluation through SSTEW (Sustained Shared Thing & Emotional Wellbeing Scale) rather than the previously used ECERS, as SSTEW has a focus on the quality of the staff interaction with children rather than just the environment, this is planned to be implemented for year 24/25. 

We reacted to findings that the Covid pandemic had a negative effect on children's development particularly in language and communication.  We took the opportunity to access funding for Time to Talk training on both sites and so have strengthened the breadth of our knowledge and quality of practice in this area. 

Page 2 



**CYGNETS EDUCATION AND CHILDCARE TRUST** 

## **REPORT OF THE TRUSTEES for the Year Ended 31 August 2024** 

A full staff training and guidance session was held to discuss the role of the keyperson.  This was to give guidance on written observations which had become a little disproportionate and lost some consistency. Practitioners were reminded of our ethos (and the current statutory guidance) which does not promote 'evidence gathering' based observations but encourages overarching observations based on practitioner knowledge of the child and child development. 

## **Community** 

The main goal of Families and Communities is to work in partnership to give greater priority to 'customer relations', maintaining good relationships with families to facilitate the best outcomes for children and to maintain our positive profile in the local area. 

We have strong links in the community, held successful Summer and Christmas Fairs, displayed the children's artwork at the local library and joined in with the Stratford in Bloom competition. 

We continued to invite parents in to the settings for special events such as Christmas performances, leaver's ceremonies and sport's days. 

We used our social media platform to show highlights of the week's activities or events. 

Up to date key documents such as our prospectus and terms and conditions are available to all on our website. A more effective online communication system 'Eymanage' was implemented across both sites ensuring more efficient and consistent communication with both existing and prospective parents. 

## **Organisation** 

## Safeguarding & Welfare 

To ensure safeguarding stays relevant and refreshed over the three years training activities are included on every staff training day, professional discussions are included in each supervision and appraisal and our walls display posters and flow charts for information.  Updates sent through from the Early Years team or Warwickshire Safeguarding are added to the staff notes.  New to childcare staff continue to access the introductory Local Authority training.  We have two DSLs on each site who are supported by the Operations Co-Ordinator. 

Both sites hold a memory stick, for all staff to freely access, which includes safeguarding documents both published and our own Organisation documents, forms for reporting concerns, poisonous plant information and revisions to policies and procedures.  These documents are also uploaded to our cloud based system and can be updated by any of the Managers. 

We have a successful Key person and Buddy system building good relationships with the children and their families.  Families are made aware that we have policies available such as on medicines and illness, food and drink, accident and injury for them to request as wanted.  Our full safeguarding policy and our uncollected child policy are sent out with our enrollment or confirmation correspondence. 

The Organisation SENDcos work directly with the children, leading assessment and support as necessary and collaborating with other professionals to ensure the best outcome for all of our children. We continue to get out and about in our environment, taking advantage of local walks an events. 

We maintain our staff to child ratios, exceeding where possible and can always be safely seen and identified in our hi-vis jackets. 

## **Sites and Premises** 

PAT testing, gas safety & boiler checks, fire alarm and fire equipment checks were all been completed on both sites.  The five year electrical test was also carried out at Broad Street with some updating identified and completed to the upstairs fuse box. Alveston's check is not due until 2026. Both kitchens had Environmental Health visits and achieved a five star rating. 

Two named designates had responsibility for Health & Safety on each site, all have training in H & S and Fire Warden Training. Regular fire and lockdown drills have been completed and logged on both sites.  The overall Health & Safety Audit is planned for January 2025. 

Alveston's current energy contract is with Eon, with approximately a year to run.  Broad Street continue to be supplied by YGP for both gas and electricity. Water Plus supply Broad Street with metered water and Alveston are supplied through the school. Alveston changed trade refuse provider from Biffa to Fortress due to an unreliable service, Broad Street continued with Bromsgrove DC. 

Page 3 



**CYGNETS EDUCATION AND CHILDCARE TRUST** 

## **REPORT OF THE TRUSTEES for the Year Ended 31 August 2024** 

Rob Evans provided advice regarding maintenance work on buildings and grounds through bi-annual visits. Larger jobs such as the kitchen refurbishment & guttering replacement at Alveston and the replacement roof at Broad Street have been completed. A schedule is in place to update lighting on both sites and is still ongoing at Alveston. Regular bookings for cleaning, small maintenance, gardening and decorating are all in place.  All trades people that have been used for maintenance, repairs and gardening have been recommended through Rob Evans. 

## **FINANCIAL REVIEW** 

## **Financial position** 

Broad Street relative to size had a good year but Alveston rather less so, with very high costs related to refurbishment and depressed occupancy whilst work was ongoing and ensuring adequate staffing. Costs were not just for the work itself, but indirectly necessitated by the project, such as a short period of closure, the hiring of temporary extra toilets and buying in meals whilst the plumbing work and kitchen upgrades were carried out. 

We were in a position to do the work at Alveston and roof work at Broad Street as trustees had determined that the funds received, from the sale of our third site, could and should be used for this identified purpose. Being in this fortunate position meant reserve funds were preserved and we were also able to invest some of them in a higher rate interest account, to retain value that in a time of high inflation was being lost in our ordinary accounts. 

We will continue to invest in our premises but will not be spending such large sums, though we will look to spend the residue of what is left in the old 3rd site account, mainly at Broad Street then close this account. We expect that Alveston will meet budget requirements, as the key works to the premises have been achieved and we have a full staff team plus the new operating model is fully implemented, occupancy targets should be met with income increased accordingly. We will have to put in substantive direct fee rises, due to inflation, rises in the national living wage, the real living wage, the inadequacy of funding rates and NI employer contribution increases but we hope that we can defray some of the extra costs, so they do not have to be passed on fully to parents who will have to contend with their own cost pressures. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The charity is controlled by its governing document, and constitutes a charitable incorporated organisation (CIO). 

Page 4 



**CYGNETS EDUCATION AND CHILDCARE TRUST** 

**REPORT OF THE TRUSTEES for the Year Ended 31 August 2024** 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 

1160913 

**Principal address** School House Broad Street Stratford-upon-Avon Warwickshire CV37 6HN 

**Trustees** 

L Findon Chair S Allison D Leitch P Evans J Croton 

S Mackjoo (appointed 18.6.24) 

## **Independent Examiner** 

David Cooper FCA Cooper Adams Ltd 12 Payton Street Stratford upon Avon Warwickshire CV37 6UA 

Approved by order of the board of trustees on ............................................. and signed on its behalf by: 

................................................................. Trustee 

Page 5 



## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CYGNETS EDUCATION AND CHILDCARE TRUST** 

## **Independent examiner's report to the trustees of Cygnets Education and Childcare Trust** 

I report to the charity trustees on my examination of the accounts of Cygnets Education and Childcare Trust (the Trust) for the year ended 31 August 2024. 

## **Responsibilities and basis of report** 

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). 

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. 

## **Independent examiner's statement** 

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 

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 accounts to be reached. 

David Cooper FCA 

Cooper Adams Ltd 12 Payton Street Stratford upon Avon Warwickshire CV37 6UA 

Date: ............................................. 

Page 6 



**CYGNETS EDUCATION AND CHILDCARE TRUST** 

## **STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 August 2024** 

|Notes<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>**Charitable activities**<br>3<br>Provision of services<br>Other income<br>**Total**<br>**EXPENDITURE ON**<br>**Charitable activities**<br>4<br>Provision of services<br>Other<br>**Total**<br>**NET INCOME**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**|2024<br>Unrestricted<br>fund<br>£<br>50,000<br>861,245<br>-<br>911,245<br>838,587<br>4,800<br>843,387<br>67,858<br>208,343<br>276,201|2023<br>Total<br>funds<br>£<br>-<br>1,071,687<br>22,992|
|---|---|---|
|||1,094,679|
|||1,051,941<br>4,800|
|||1,056,741|
|||37,938<br>170,405|
|||208,343|



The notes form part of these financial statements 

Page 7 



**CYGNETS EDUCATION AND CHILDCARE TRUST** 

## **STATEMENT OF FINANCIAL POSITION 31 August 2024** 

|2024<br>Unrestricted<br>fund<br>Notes<br>£<br>**FIXED ASSETS**<br>Tangible assets<br>8<br>55,658<br>**CURRENT ASSETS**<br>Debtors<br>9<br>5,361<br>Cash in hand<br>234,710<br>240,071<br>**CREDITORS**<br>Amounts falling due within one year<br>10<br>(12,028)<br>**NET CURRENT ASSETS**<br>228,043<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>283,701<br>**CREDITORS**<br>Amounts falling due after more than one year 11<br>(7,500)<br>**NET ASSETS**<br>276,201<br>**FUNDS**<br>12<br>Unrestricted funds<br>276,201<br>**TOTAL FUNDS**<br>276,201|2023<br>Total<br>funds<br>£<br>49,285<br>4,471<br>194,094<br>198,565<br>(30,507)<br>168,058<br>217,343<br>(9,000)<br>208,343<br>208,343<br>208,343|
|---|---|



The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 

............................................. Trustee 

The notes form part of these financial statements 

Page 8 



**CYGNETS EDUCATION AND CHILDCARE TRUST** 

## **STATEMENT OF CASH FLOWS for the Year Ended 31 August 2024** 

|Notes<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>Net cash provided by operating activities<br>**Cash flows from investing activities**<br>Purchase of tangible fixed assets<br>Sale of tangible fixed assets<br>Net cash (used in)/provided by investing activities<br>**Change in cash and cash equivalents**<br>**in the reporting period**<br>**Cash and cash equivalents at the**<br>**beginning of the reporting period**<br>**Cash and cash equivalents at the end**<br>**of the reporting period**|2024<br>£<br>54,134<br>54,134<br>(13,518)<br>-<br>(13,518)<br>40,616<br>194,094<br>234,710|2023<br>£<br>25,344<br>25,344<br>-<br>25,000<br>25,000<br>50,344<br>143,750<br>194,094|
|---|---|---|



The notes form part of these financial statements 

Page 9 



**CYGNETS EDUCATION AND CHILDCARE TRUST** 

## **NOTES TO THE STATEMENT OF CASH FLOWS for the Year Ended 31 August 2024** 

|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM**|**OPERATING ACTIVITIES**|**OPERATING ACTIVITIES**|
|---|---|---|---|
|||2024|2023|
|||£|£|
||**Net income for the reporting period (as per the Statement of**|||
||**Financial Activities)**|67,858|37,938|
||**Adjustments for:**|||
||Depreciation charges|7,145|5,476|
||Profit on disposal of fixed assets|-|(22,992)|
||(Increase)/decrease in debtors|(890)|2,217|
||(Decrease)/increase in creditors|(19,979)|2,705|
||**Net cash provided by operations**|54,134|25,344|



## **2. ANALYSIS OF CHANGES IN NET FUNDS** 

||At 1.9.23|Cash flow|At 31.8.24|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|194,094|40,616|234,710|
||194,094|40,616|234,710|
|**Total**|194,094|40,616|234,710|



The notes form part of these financial statements 

Page 10 



**CYGNETS EDUCATION AND CHILDCARE TRUST** 

## **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 August 2024** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## **Tangible fixed assets** 

Depreciation is provided at the following annual rates in order to write off    each asset over its estimated useful life. 

Property improvements- Reducing balance 10% Fixtures and fitting - Reducing balance 25% 

## **Taxation** 

The charity is exempt from tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

The charity holds no restricted funds. 

## **Pension costs and other post-retirement benefits** 

The charity operates a defined contribution pension scheme.  Contributions payable to the charity's pension scheme are charged to the  Statement of Financial Activities in the period to which they relate. 

## **2. DONATIONS AND LEGACIES** 

|**DONATIONS AND LEGACIES**||||
|---|---|---|---|
||2024|2023||
||£|£||
|Donations|50,000||-|



Page 11 

continued... 



**CYGNETS EDUCATION AND CHILDCARE TRUST** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 August 2024** 

## **3. INCOME FROM CHARITABLE ACTIVITIES** 

|Activity<br>Fees for Charitable<br>Childcare services<br>Provision of services<br>Other Income<br>Provision of services<br>Bank interest received<br>Provision of services<br>Grants<br>Provision of services|2024<br>£<br>852,629<br>3,982<br>3,134<br>1,500<br>861,245|2023<br>£<br>1,067,665<br>1,400<br>1,122<br>1,500<br>1,071,687|
|---|---|---|



## **4. CHARITABLE ACTIVITIES COSTS** 

|**4.**|**CHARITABLE ACTIVITIES COSTS**||
|---|---|---|
|||Direct|
|||Costs|
|||£|
||Provision of services|838,587|
|**5.**|**SUPPORT COSTS**||
|||Governance|
|||costs|
|||£|
||Other resources expended|4,800|



## **6. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023. 

## **Trustees' expenses** 

There were no  trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023. 

## **7. STAFF COSTS** 

|Wages and salaries<br>Social security costs<br>Other pension costs<br>The average monthly number of employees during the year was as follows:<br>Average number of Employees|2024<br>£<br>603,158<br>39,371<br>20,812<br>663,341<br> <br>2024<br>34|2023<br>£<br>771,630<br>44,492<br>29,884<br>846,006<br>2023<br>45|
|---|---|---|
||||



No employees received emoluments in excess of £60,000. 

Page 12 

continued... 



**CYGNETS EDUCATION AND CHILDCARE TRUST** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 August 2024** 

## **8. TANGIBLE FIXED ASSETS** 

|Property<br>improvements<br>£<br>**COST**<br>At 1 September 2023<br>68,453<br>Additions<br>11,641<br>At 31 August 2024<br>80,094<br>**DEPRECIATION**<br>At 1 September 2023<br>19,168<br>Charge for year<br>6,675<br>At 31 August 2024<br>25,843<br>**NET BOOK VALUE**<br>At 31 August 2024<br>54,251<br>At 31 August 2023<br>49,285<br>**9.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade debtors<br>Other debtors<br>Prepayments and accrued income<br>**10.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Taxation and social security<br>Other creditors|Fixtures<br>and<br>fittings<br>£<br>-<br>1,877<br>1,877<br>-<br>470<br>470<br>1,407<br>-<br>2024<br>£<br>778<br>2,244<br>2,339<br>5,361<br>2024<br>£<br>-<br>12,028<br>12,028|Totals<br>£<br>68,453<br>13,518<br>81,971<br>19,168<br>7,145<br>26,313<br>55,658<br>49,285<br>2023<br>£<br>505<br>-<br>3,966<br>4,471<br>2023<br>£<br>12,327<br>18,180<br>30,507|
|---|---|---|



Page 13 

continued... 



**CYGNETS EDUCATION AND CHILDCARE TRUST** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 August 2024** 

## **11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR** 

|Other creditors<br>**12.**<br>**MOVEMENT IN FUNDS**<br>**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|At 1.9.23<br>£<br>208,343<br>208,343|2024<br>£<br>7,500<br>Net<br>movement<br>in funds<br>£<br>67,858<br>67,858|2023<br>£<br>9,000<br>At<br>31.8.24<br>£<br>276,201<br>276,201|
|---|---|---|---|



Net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>911,245<br>911,245|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(843,387)<br>67,858<br>(843,387)<br>67,858|
|---|---|---|



## **Comparatives for movement in funds** 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|At 1.9.22<br>£<br>170,405<br>170,405|Net<br>movement<br>in funds<br>£<br>37,938<br>37,938|At<br>31.8.23<br>£<br>208,343<br>208,343|
|---|---|---|---|



Comparative net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>1,094,679<br>1,094,679|Resources<br>expended<br>£<br>(1,056,741)<br>(1,056,741)|Movement<br>in funds<br>£<br>37,938<br>37,938|
|---|---|---|---|



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continued... 



**CYGNETS EDUCATION AND CHILDCARE TRUST** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 August 2024** 

## **13. RELATED PARTY DISCLOSURES** 

Under a formal rental agreement, the charity pays a monthly rental to Mrs L M Findon and her SIPP for the exclusive use of each of the sites from which the charity operates, 2023: £55,440 (2022: £55,440). 

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**CYGNETS EDUCATION AND CHILDCARE TRUST** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 August 2024** 

|**INCOME AND ENDOWMENTS**<br>**Donations and legacies**<br>Donations<br>**Charitable activities**<br>Fees for Charitable Childcare services<br>Other Income<br>Bank interest received<br>Grants<br>**Other income**<br>Gain on sale of tangible fixed assets<br>**Total incoming resources**<br>**EXPENDITURE**<br>**Charitable activities**<br>Wages & salaries, agency staff<br>Social security<br>Pensions<br>Rent, Rates, Light, Heat and insurance<br>Repairs and Maintenance<br>Legal and Professional<br>Telephone, Stationery and office costs<br>Bank Charges & Interest<br>Refreshments, Food, Craft<br>Other costs<br>**Support costs**<br> **Governance costs**<br>Auditors' remuneration<br>Total resources expended<br>**Net income**|2024<br>£<br>50,000<br>852,629<br>3,982<br>3,134<br>1,500<br>861,245<br>-<br>911,245<br>603,158<br>39,371<br>20,812<br>76,075<br>37,373<br>9,752<br>9,867<br>119<br>32,235<br>9,825<br>838,587<br>4,800<br>843,387<br>67,858|2023<br>£<br>-<br>1,067,665<br>1,400<br>1,122<br>1,500<br>1,071,687<br>22,992<br>1,094,679<br>771,630<br>44,492<br>29,884<br>120,183<br>18,584<br>12,866<br>12,818<br>111<br>35,897<br>5,476<br>1,051,941<br>4,800<br>1,056,741<br>37,938|
|---|---|---|



This page does not form part of the statutory financial statements 

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