Charity Registration No. 1162242 SEVENOAKS DAY NURSERY CIO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
SEVENOAKS DAY NURSERY CIO LEGAL AND ADMINISTRATIVE INFORMATION Tru5tee5 Susan Dreksler Stephanie Jenkin50n Abigail Wells Carolinè Bramley Natasha Manson Chloe Ghuznavi Charity numbpr 1162242 Principal address Rear ol Bat and Ball Centre Offord Road Sevenoaks Kent UK TN14 5DN Independènt èxaminèr Caroline Ward FCA A4G LLP Kings Lodge London Road We$1 King5down Kent UK TN156AR
SEVENOAKS DAY NURSERY CIO CONTENTS Page Twstees Report Independent examiner's report Statement of financial activities Balance sheet Notes lo the financial slalements 7-12
SEVENOAKS DAY NURSERY CIO Page 1 TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their repotl and financial 51alemenls for the ye8r ended 31 Deomber 2024 The financial 51alemenls have been piÈpared In atcord8nce with the accounting policie5 Sel out In note 110 lh& financial st31emenls and compty wilh the Charity's conslilulion, the Charil*s Act 2011 and 'Accounling and Reporting by Charrtie5.' S131emenl of Recommendgj PracliGe applicable 10 Chaiilies preparing their accounts in accordancè with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 las arnènded for 2ccouniing penods commencing fiom 1 January 20161. 0¥8r¥lgw The Charills obiedives are lo enhance the developmenl and educÈlion, artd promoie the Care. safety, heatth and wèl bèing. of children residin9 In Sevenoaks anLI ils neighbourhood, by Ihe provision of day tsre lacililies, nursery education, atternalives lo foster care and emeigency c3re lor children In cases ol famity crisis. Therefor8. we ensure the ve1 of charges foi amendance al the Nursery are Conser2b1Y below the Tales charged by commert181 nurseries oper81ing In the area 3nd we provide free childcare. at the Trusltes. discretion. lo childien of fami15ès al economic d1s2dvanlage oi who would benefit frorn support due lo illness or cris1S. Al the same lime, Il Is the aim of the Charrty io ensuie the continued financral su514inability of lfvè Nursery bearing In fflind the need lo accumulate. ovÈr IitnÈ. SLrfficiÈnl funds to enable the Nursery to replaTr the current buildings ¥vhen they reach the end of IheiT useful lrfe The Nursery caters for up lo 57 childien a day wrth 2 reserved emergency se5signs available. 11 also Offers limited free sessions In the event of unfoTeseen circumglances. Slaft costs. as expected. remain the Nursery's largest Èxpenditure at 82 1. lol all costs). Madde Eleby, our Nursery Manager of five years. relirèd from the nursery In Apnl 2025. Her succes50r Susie Gilshnan. previously the DepLrty Managei look over from May 2025. Madde will ¢onlinu8 10 5UPPOrt Susie as a fflenlor ovei the next 6 rnonlhs lo ensure she has all the support neèded In new role. The following Trustees, who ale responsible for Ihp gverall coniinued operation and success of the Nursery. v4ho fulfilled th15 role during the year 8nd up lo the date of signature of Ihe fin8neial sialemenls are as lollow5' Stephanie Jenkin50n-, Abigail Wells, Caroline Bra[y, Natasha f4lanson-. Chloe Ghuzn8vi No further Trustees were appointed Ihis year. However. aftÈr 12 yé8ts Su& Dreksl8r h85 stepped down as Chair of Iruslees and Slephanie Jenkinson has now taken overthis role leffeclive Jan 20251.
SEVENOAKS DAY NURSERY CIO Page 2 TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Financial RÈVIÈW Our 81rn IS to avoid rnaking suluSe8 or deficits lafter deprecialionl There was a net surplus ol income over expenditure In th8 year aTnouriling lo £66.26212023-. £15.372 The surplus when added to the accumulated funds brought fomard gives a balantrÉ to carry forward of £626,817 12023. £560,553). The financ121 position Is considered satisf8clory with the overall aim lo keep fees charged as low as possible with adequalè levels ol trained staff. well maintained accommodation enhanced by fundraising aclivilie5 to support the Nursery and provide additional equiprnenl as required. In addition, the Charity aims lo build up funds to rÉplace our buildings as Ihey reach the end of their useful life. Surplus funds held for this and other c8pilal projects are held in a Ch8rilies Oflicial Inveslmenl account. The Trustees have assèssed the maier risks to which the Chanty is exposed an(1 a satisfied that systems are in place lo miligale exposure to m3jor risks. Extract of this year's Balanc& Sheet for r•ference-. Undesi9nale(l Funds 342,317 Designated Funds Wotking Capital Reserve Closure Reserve Accomrnodalion Reserves 45.000 67.500 172,000 284.500 Total Funds 626.817 Notes. rhgre were no reslricled funds as al the year-gnd However, In order to provide for futu conlingÈncies we have sel asitle funds fTrr the following purposes .The Vlorkifig Capilal Reserve provides emergency funds in the event of business Inlerruplion. .The Closurè ResÈrvÈ provides tor our slalutory oblig81ions le.g. redundancy paymenisl In th¢ unlik@ly vent of closure. .The Acrommgijatign R&serve provides for the future accommodation of the Nursery.
SEVENOAKS DAY NURSERY CIO Page 3 TRUSTEES REPORT ICONnNUEOI FOR THE YEAR ENDED 31 DECEMBER 2024 Re¥prves policy The reserves policy was adople(l and updated 1st August 2024 and contains the following policies and qUIred fynds". To provide working capital for the day to day operèlion of the nursery. Funds for Ihis purpose should not eyceed an average of one month's tash oulgoings. Al Isl Augu512024 this arnounled to £45.000. To provide for statutory obligations In the unlikely evgnl of closure. At 1 sl August 2024 the only known obligation Is redundancy pay which would awount to £67.500 12023.. £65.0001 To piovide funds foi the future accomrrodalion of the Nursery The new building purchased In thg year has an expected lifespan c>f 25 years. 11 Is our Intention that a reserve is accumulated over the nexl 25 years lo provide for Ihe fuluie accommodalion of the Nursery. Al an average inflation rale of 2.5'k over the next 25 years we would need to save £880,000 lo place the new building. In addition to this, the now Èc4uired Pro-s¢ho¢l room £30,000 IDÈC 231 we have faclor8d In that over the next 10 years WÈ would need lo save £300,000 lo repla¢e this building. On 1 January 2017. the Charily was converted to 3 Chanlable Incorporated Organi881ion ICIOI charity number 1162242. wlh 8 new constilulion. The objectives and activities of the ChÈrity are unchang8d. The principal address of the Charity can be found under Legal and Admini51ralive Information. The Trustees who seroed during Ihe yèar and up lo the date of signalure of Ihe financial slatetnEn15 were Susan Dreksler Stephanie Jenkinson Abigail We115 Caroline B[aMY Natasha Manson Chloe Ghuznavi None of the Trustees has any benefieial interest In the Charity Appointmenl of the Trustees is governed by the conslituli(In of the Charity- The Board of Trustees is aulhor15ed lo fill vacancies arising through resignation or death of an exisbng Trustee, or lo iecruil additional Trustees. Thus the day-ttHlay manageFnEnt ol the Chanly Is vested In the Nursery Manager. Nursery Manager. Maddie Eleby The Board of Trustees keeps the skill requireTnenls for the Truste? Board under review. Training expenses are provided for Trustees ltrgelher with an Induction pack for new tFuslees comprising a copy ef thè conslilulion. a copy of the previous year's 3nnual report and accounts, copies of Board rninules and copy of the Charity Commission'5 guidance -The Essential Trustee.. As a provider of childcare. the Nursery is registered with OfslÈd and must meet the conditions that Ofsled plac85 on registration al all limes that we provide registered G3re, as well as other requirements for regislralion. The Trustees report was approved by the Board of Tiustees.
SEVENOAKS DAY NURSERY CIO P8ge 4 INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 I report lo the TruslÈÈs on my examination of the financial statements of Sevenoaks Day Nursery CIO (the Ch2rilyl for the ye2r end&d 31 December 2024 Responsibilitie8 and basis ol report As the Tru51ees ol the Charity you are responsib for the preparation of the financ4al sialemenis in ac¢ordance wlh the requirements of the Chanlies Atl 2011 (the 2011 Acll. I report In respecl of my Éx8minalion of the Ch8rity'5 financial sialetnents carried out undei section 145 of th& 2011 Act. In carrying out my exèminalion I have lollowed all Ihe applicable DirectlDns givÈn by the Chartity Commission under section 14515llbl ol the 2011 Acl. The accounts are not required lo be audil&d under Part 16 of the Companies Act 2006. Independent examiner's statement Since the Charity's 9ross Income exTreded £250.000 your examiner must be a member of a body Iisled In section 145 of the 2011 A¢1. I confim that l am qualified lo undertake the tX8minalion beuSe l arn a member of Ihe ICAEW. which Is one of the listed bodies. Your attention Is drawn lo the fact that the Charity has prepared financial slalernents in accordance with Accounting and Reporting by Charities prep8ring their aecounls in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Ch8rilies Slalement of Recommended Practice issued on 1 April 2005 which is referred to In the exlenl regulations bul has now been withdrawn. understand that this has been done in order for financial stalements lo provide a true and fair view in accoruancè with Generally A£pIed Accounting PraGtice effective for reporting penods beginning en or aller 1 January 2015. I have cornpleleJ rny exarnination. I confirm that no matter5 h8ve come to my attention In connection with the examin21ion giving rne cause t¢ believe that In any material specI.. accounting records were not kept In respect of the Charity as required by section 130 of the 2011 A¢l.- Or th8 finaneial sl8lemenls do not accord with those record5-, or the financial slalemenls do not comply with the applicab requirernents conceming the fom and content ol accounts sel out In the Charitie5 (Accounts and RÈportsl Regulations 2008 other than any requirement that the accounts give a true and fair view which Is not a Tnatter considered as part of an Indepen(lenl examination. I have no ¢on¢erns and have ¢ome across no other mallers In connection with the pxaminalion lo which 8ttention should b? drawn In this report In order to enable a proper understanding of the finan¢ial slatÈment8 lo be reached. CarDline Ward FCA A4G LLP Chartered Accountanls Kings Lodge London Road West K1Dgsdown Kenl UK TN156AR
SEVENOAKS DAY NVRSERY CIO Page 5 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Restricted ncomo lunds Total lunds Prior year (tr24 2024 funds 2023 Unrestrlcted fijnds 2024 Rtstrieted lunds 2024 Infjome Incorne and endowrnènts from.. Donations and legacies Ch8llt8ble adivities loveslinenls Total Expenditure Charitable expenditure on.. Teaching and care of children Running costs and maintenance ot the nuisery Total 2,842 623.564 13780 $40,186 2.842 623.564 3,726 498,743 11 109 515.578 640.186 506,484 506.484 430.647 63 970 570,454 69.558 500,205 3.468 573.922 Net incomellexpenditurel Tiansfers between fufjds Other recognised gainslllos5esl'. Net movefflenl in fund$ 69.732 3.468 66.264 15.373 69,732 3.468 66,264 15.373 Reconciliation of funds.. Total funds brought forward Total funds carried forward 557,085 626.817 3468 56D.553 626,B17 545 180 580.553
SEVENOAKS DAY NURSERYCIO Reolslralkn 1182242 PAg8 6 BALANGE SHEEr FOR THE YEAR ENDED 31 DECEMBER 2024 Unr••trf¢ In¢orn• 7•t•l thi¥ Totsl l••t nd nd• 2024 2024 2024 2023 d u••ts TarwJibkn as8e Totsl IW aM•ts 215 316 315.316 315 316 321.227 315.316 321.227 Fixed Asw Irt¥¢strst 227.590 21.786 138,186 21.766 82.775 136 198 297 811 JaS,6SI 330.326 Cash al bathk irE 10 G1•a' wnoixits Irg auewmnin one year 11 74.049 74.049 91.080 M•t¢uff•ntm•••tslUl•bllltl••> 311.502 311.W 239326 Totsl ••••l• IM• aurr•ntllabllEII•• $2&817 826,817 560,553 Totxl n•tu••ts orllabllltl•• 826.817 626.817 560.553 Fund• otlh• ¢hrfty 13 13 626,817 626 817 828,817 5S7,085 626 817 seo 5S3 Totsl fund Th? f¢1•1 slai•rn8nts worn •prrfov¢d bytha Trt*kng8'. stephan J•nkinson Ttee Dat¢¢t Troll. Iz£ Man TNsts8 IdllOIts
SEVENOAKS DAY NURSERY CIO Page 7 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Basi5 of preparatltsn Charlty Infomiaiion Sevenoaks Day Nursery CIO Is Incoipoialed ¢hanty and is consliluled under a COnSlilLrtion. 111$ incorpuale in England and Wales under chaiity number 1162242. Basls of accounting These financi81 slalemen18 have been prepared undèr the hision¢81 Cost convenlion. as rno¢ified by the revaluation of certain 35sels Nthpie required, and In 8c¢ordantt vAIh-. Ihe Charities SORP IFRS ID21--AcGDuTrling 8nd Reporting by Ch8rilies" lapplicable for accounting periods beginning on or after 1 JanLJary 20151. the Financial Reporfing Slandard applicable In the UK and Republic of Ireland IFRS 102}. and Ihe reouirernenis of the Charities Act 2D11. The ¢h8Yily mee15 Ihe definition of a public bÈnefil entity under FRS 102. Golng Concern Al Ihe lime ol approving the financi81 siaitmenis. Ihere are no material uncertainl9 aboul the enirty's ability lo onlinuÈ. The Tru$iee$ have a reasonable expecl3lion Ihal Ihe Charity hats 3dequale resources lo coniinut In Charltable Funds Unresiricled funds Sre avsilable for use al the discrÈtion of the TNsiees In furtherance ol IheiT charrtablÈ objectives unless the lunds have been designated for other purposes. Reslricled lund5 are subiecl 10 spe¢ifi¢ conditions by donors as lo how they may be use4. The PUD$e$ and uses of the reslrided funds ale sel oul In the noitrs 1¢ the finaThcial gtatemenis. Endokn¥meni funds are subject lo 5pècifit condiuDns by donors that Ihe capital musl be m31nlait*d by the Chanty. No such fvnds are Curienify hel(f.
SEVENOAKS DAY NURSERY CIO Pa9e 6 NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies InrornE IncDmE 15 rognised in itte Statement ol Financial Aciiyilies ISOFAI ¥sfien Ih@ charity Èntilled to Ihe resour$. Ihe monelary value c3n be measured vAlh sufficiénl r@liabilrty ThÉr8 has beén no offgENiThg ol assets and Iiabiliiies. IK Income and expEnse5, Un¥ required or pertnitted th& FRS 102 SOFtP Dr FRS 1D2 Grants and ¢on3Iions are rgnISed irn thè siaiemÈnt tsl Finantsal Acivitie5 ISOFAI when Ihe chanty Is entirf&J lo the Income. receipt Is probatle, and Ibe 3mounl mÈasured rdiatdy. In accordaKe wth the Chaniies SORP IFRS 1021, P3ragiaphs 5 10 to 5.12 Conif3Ctu31 Income and rforManCe relala grpn1s a only Included In the SOFA On the ch3rrty has prowdeo Ihe related go$ or services or meithe Perf1Man rdaled condiliDna. The ¢hanty has Incurred expenditurè on supptsrt tDsts. Income from Intere51 Is Included In Ihe accourt5 when receipt Is wobablÈ the amount reIae can be Measured rel13Y abililie5 arE recognised there il 15 mole likely than rbol that there i¥ a leg¥ or Conytructive ol93t}n mitting the charity lo payout iesovices thè amount of the oNigalion can be measured vrtlh Support Costs have teen all¢xaled een goveinance CQ$ls and other $upport Govemance c051S EoTnpri5e all tOSlS Involwno putrAic atcouniabiliiy of the chanty and Ils compii¥nc£ wlh r4ulaiiOTh and ots)d The charity made no re¢und¥ncy payments dunng the reporting peiiod No material Item ol deleired Income has been Induded ID the accounls. The eharity accou$ lor basic financial In51rumen15 In accordance wlh SediTrn 11 ol FRS 102 and thE hanbes 50RP IFRS 1021 Basit firt3neial assets. Including deoiors and cash. are Inili?Ily remgnised at Iransaciion pricp an# subsequently tnesgured at amorti>ed ojgi Basic financjal Iiabiliiies, Includin9 (YEdilors. are Inityally rewnised ai transaction price ?nd subsequently meagured ai amortised c05t Expenditure Is allocate¢ lo aGtiwlies In the Statement ol Financial Actiwties ISOFAI based on Ihe dir&cVy attnbutable costs for each actiyitry Supwn and govemance ¢osis are apportioned to Gh3niable adivoies reasonable and consisienl basis. such as staff time oi usage as appropnaie ExpÈndilur¥ relating 10 1eaetting and care ol children Include5 direct staff c051s. art tenlS and Krtchen 8n meal costs forlhe children. Expendiluie on running costs and maintenance of the Nursery includè$ 811 ¢osis ratIng to Ihe running of the emiSe5, gDvèmanCÉ tDStS and Support costs Assets Tangible fixed assets are Initialy measured ai cost and subsequendy meg5ured at ctsst Or valuatTh. nÈi ol depreciatiOTh and any Impairmenilosses Oeprecialio? 15 reCrynIs so as ID Mle off the $t or valuation ol assets less their residual values over their useful lives on the lolltrmng bases Land bu1195 Fixture5 fittings & wuiprnent The gain or1055 arising on Ihe disposal of an assel Is deierrnlned as Ihe ditTeren¢e beTren the sale PToceeds artd Ihe rying valuè ol the asset 2nd IS recognised in nel Incomej Debtors IincludiDg irade debtors an¢ loans receivable) are measured Initsal recopnition at sertkmenl amount arter any ttaae discounis of amouni advanced by Ihe Chanty. Subseguenuy, they arè measured al thg cash amount orothpr consideration exEected LO be received.
SEVENOAIIS DAY NJRSERY CIO NOTES TO THE FIN&N¢L4L STATeMeNTS (CONTINUED FOR THE YEAR ENDED JI DECEMBER 2024 Incorn PeE5 reGEIv4b 42) $64 4Dts 743 •n4itL Thib wi-2024 Runn9 nulTh1eNnc• orth• 4re ol na(4 lth* nvr&ery IP4 ?8657 J5D66 7.6b7 567 Joy 2.0 3b 758 TOTALEXPENDITUAE
SEVENOAKS DAY NURSERY CIO Page10 NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Support Costs Support costs 2024 Governance Gvand total 2024 2024 2023 Bank charges Independent examinets fees for preparation of accounts and extÈrnal scrutiny Other accountancy and profÉ55ional feos not by the Independanl Èxaminer Total 78 78 67 1.440 1.440 1.440 2,552 2.552 2.707 78 3.992 4.070 4.214 Paid empltsyÈes Slaff Costs 2024 2023 Salaries end wages Social secunty costs Pension c0515 Idefined contribution scheme) Total staff costs 440.124 28,667 7.607 476.398 375,799 21,888 6.286 403.951 2024 2023 Tolal amount paid lo key rnanagernenl ppr50nnel 65,370 87,329 Averaye head count in the year Thi5 year Number Last year Number Charitsble Activilie5- Nursery Chaniable Activities- Admin Total 18 There were no ex-gralia payments to employees and others Ntr employees rec*ived èmployee benefits (excluding employer pension cosisl lor thè reporting period of more than £60.000
SEVENOAKS DAY NURSERY CIO Page11 NOTES TO THE FINANCIAL STA TEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEM8ER 2024 Tangibl• fixgd aslgtg Coel or¥alu8Uon Flxturos. Fig•hold thngi an Iquiprn•nt Totsl 424 82a 27,855 4.035 452.663 At eThd uFthE year Dèpfxl•t5on and Impalm)en Totsl 4%6 20% At beginnins of the year At Winnin9 of yo8r 108.92T 22.528 lrnpairrnent At the year Net book vAlue Net 0k value al the begInnng ottheyehr s15.1 5327 321.227 Net o¢ok valve al Ihè tnd thè y&ar 307 752 7.564 FiAfdA¥•ot Inv•¥im#nt ygar CCLA Investment Totsl 227 590 The ¢h¥nris Inveillnoniin tho COIF Chantigs Ethic lThvEstmBnt FuThJ forms pan ol its IDn*teim re5ertyeS 51Trtegy and IS Iniendtd to 9¢ntrat¢ Income and Ca$4 9rowth ov@rtim@ In 8 manner con5I5tent witr thechanty5 Ethiral and obiectivt Thè iTrveslMÈnl IS hdd al fair valwba&ed on vnil prKe puN15hed by (helnd manager ICCLAI ès at the dait. Dèbtors and propaym8nt8 ADaty•i¥ dgbtor4 Thls Llytygar Ttad? oebt¢rS Prepayfflents acctuea Income 15225 6.332 208 26768 6.007 Ttstsi
SEVEP40AKS DAY NURSERY CIO Peye 12 NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Cash Lt bank and lrt hand 2D24 2025 Analysi$ rf rr•diE¢ Amounis talllfig wl¢hln onyg4w Amounls f411ing dupafttsr more 2414 202J 2024 2023 Ott.r and 5o(ud S[ur1 Perb31Q 7.%3 9.653 29.63b 34.322 J7 Attruals aThd intom Tolol Ev•nte Aftèrthfj Of ¢h¥ vfypothny On 30Apnl 202PJ, the Nur5Ery PAan4eT. FIy-rg¥iILd. lerIed She has been swceedeQby Su34e Gi15hThbn w Nvr5ery Vpnagei. Cb4rityfund?- curtsDI ye4r Furtd Incomo Incomè lunds Purp054 and Rv51rictions brought Fnd balances c4frKd lorward DwslgThitwd lund Deslgnaled for Ihepurrkn 3.46 Ing CapiiAI RV.sèÉ 45.OW lomee1 d4y-l08¥ opFt811)n41 and ttishfl(w nefjds 45.000 45.000 $lètQry l¢duffidanr¥ C105ure Re5eNe 2.5UD 67.500 operauor Ocsignalea lof thetrbEin 1T2,Om buèldity rbuildtos1$d Tr fulure'clth RDCM. rebuild AEEDmmDdBlIDn Re5Elve 118.C 172.QQD 00 Ch4rityiurtd. ts8t year Fund Income Inromg PrpOs0 RèstrtctlDnS Fund balancDs Ellrtièd laTWITd forward lficom• Exp•ndllurg Dé8lQnatéd ffftd ltsr mèpuichasè 01MIre$ fiMJry5 forth 3.466 3.466 Dosiwn*pd lo ensure VIOlg Capital Re5eive 4J,(W lo meel day-1trdav oporatronal and ca$h flr n¥yd5. 45.(K 45,D 5tslulory 65.wo oSure costs. the nT tolrtd up Closuré R8sErve 55,ooa 10. 5. AccDmMDdalitsTh Roserde 118.L o e'Club Rffl. rebuil