Charity registration number: 1169193
Abbotts Ann Nursery School A Charitable Incorporated Organisation (CIO)
Annual Report and Financial Statements
for the Year Ended 31 August 2021
River View Tax & Accountancy Ltd 5 Beresford Gate South Way Andover Hampshire SP10 5BN
Abbotts Ann Nursery School
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 |
| Statement of Trustees' Responsibilities | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 11 |
Abbotts Ann Nursery School
Reference and Administrative Details
Trustees
Jane Hemsted, Chair from 06/06/2022 (appointed 6 June 2022) Beth Wildbore, Secretary from 24/09/2020 Claire Croombs, Treasurer from 30/05/2022 (appointed 3 March 2022) Sarah Readman (appointed 9 November 2021) Annabel Willmott (appointed 24 September 2020)
Charlotte Wylde, Secretary to 24/09/2020. Chair from 24/09/2020 to 02/12/21. (Resigned 2 December 2021) Anna Cottam, Treasurer to 30/05/2022 (Resigned 30 May 2022)
Hannah May, Chair to 24/09/2020 and from 02/12/21 to 06/06/22 (Resigned 6 June 2022) Tamsin Godfrey Davies (Resigned 24 September 2020)
Megan Eagles (appointed 24 September 2020 and Resigned 3 December 2020)
Samantha Henbest (Resigned 24 September 2020)
Principal Office
Charity Registration Number
Independent Examiner
War Memorial Village Hall Duck Street Abbotts Ann Andover Hampshire SP11 7BG 1169193
River View Tax & Accountancy Ltd 5 Beresford Gate South Way Andover Hampshire SP10 5BN
Page 1
Abbotts Ann Nursery School
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 August 2021.
Governance and Structure
The Abbotts Ann Nursery School is Charitable Incorporated Organisation (CIO) (registered charity number: 1169193). The Nursery is registered with OFSTED (reg.no. EY546267) and is a member of the Early Years Alliance. The trustees in office during the financial year and any changes since the year end are as detailed on page 1. The Nursery has a childcare protection policy in place which includes carrying out checks with the Disclosure and Barring Service for new and existing members of staff and committee members. All trustees give their time voluntarily and received no remuneration or benefits. The Nursery works closely with the Village Hall committee from whom it rents the premises and associated facilities in which it provides Early Years education and Childcare.
Principal Activities
The objective of the charity is to enhance the development and education of children under statutory school age. Children are encouraged to make play choices throughout their sessions and all children have a key-person who will plan for their children's interests in their next steps and focus activities. Focus activities are the only adult led activities that happen. The Nursery takes children from two years old up to school age and is open during term time only.
Achievements
The committee have given up their valuable time to help with many fundraising events, including the popular Christmas raffle, sales of Christmas cards made by the children, manning a stall at the village Fete, a Pumpkin scavenger hunt, a children’s annual photoshoot and Bags4Schools collections.
The Christmas Fayre was incredibly well received within the local community, helping us strengthen our ties, promoting the nursery to potential new families, as well as being a great fundraising platform. This is therefore something we would look to build on in coming years.
We also organised a hugely popular sponsored Wildflower Run upon which we reinvested the funds raised and also made a donation to Cancer Research. The nursery was awarded a Test Valley Borough Council Grant which was used to purchase indoor/outdoor equipment and phonics sessions for the children. A second grant was received from the Abbotts Ann Parish Council which we topped up to spend on our Emotional Wellbeing & Resilience Project.
Despite the Covid pandemic we had a successful year in regards to achievements.
Financial Review
For the year to 31st August 2021, grants were received from Hampshire County Council totalling £39,766 (2020: £46,752) and fees received from individuals for the provision of preschool education totalled £23,656 (2020: £17,378). The total income was £69,165 including £899 received from the Government job retention scheme (2020: £70,286 JRS £2369).
Salaries remain the largest item of expenditure, totalling £56,528 (2020: £49,977) including employers National Insurance and pension contributions and £300 (2020: 4,834) paid to furloughed staff during the Covid 19 lockdowns. During the year there was a deficit of £4,445 (2020: £6,187 surplus).
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Beth Wildbore Trustee
Page 2
Abbotts Ann Nursery School
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities 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 applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Beth Wildbore Trustee
Page 3
Abbotts Ann Nursery School
Independent Examiner's Report to the trustees of Abbotts Ann Nursery School
I report on the accounts of the charity for the year ended 31 August 2021 which are set out on pages 5 to 11.
Respective responsibilities of trustees and examiner
The 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:
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examine the accounts under section 145 of the 2011 Act;
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to 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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to 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 next statement.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act 2011; and
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to prepare accounts which accord with the accounting records and 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.
...................................... Gemma Merritt CTA
River View Tax & Accountancy Ltd 5 Beresford Gate South Way Andover Hampshire SP10 5BN
Date:.............................
Page 4
Abbotts Ann Nursery School
Statement of Financial Activities for the Year Ended 31 August 2021
| Unrestricted | Unrestricted | Unrestricted | Restricted | Restricted | Total | ||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | 2021 | |||||||
| Note | £ | £ | £ | ||||||
| Income and Endowments from: | |||||||||
| Donations and legacies | 3,453 | - | 3,453 | ||||||
| Charitable activities | 64,394 | 1,315 | 65,709 | ||||||
| Investment income | 4 | 3 | - | 3 | |||||
| Total Income | 67,850 | 1,315 | 69,165 | ||||||
| Expenditure on: | |||||||||
| Raising funds | (391) | - | (391) | ||||||
| Charitable activities | (71,904) | (426) | (72,330) | ||||||
| Total Expenditure | (72,295) | (426) | (72,721) | ||||||
| Net movement in funds | (4,445) | 889 | (3,556) | ||||||
| Reconciliation of funds | |||||||||
| Total funds brought forward | 42,022 | - | 42,022 | ||||||
| Total funds carried forward | 12 | 37,577 | 889 | 38,466 | |||||
| Unrestricted | Total | ||||||||
| funds | 2020 | ||||||||
| Note | £ | £ | |||||||
| Income and Endowments from: | |||||||||
| Donations and legacies | 2,603 | 2,603 | |||||||
| Charitable activities | 67,644 | 67,644 | |||||||
| Investment income | 4 | 38 | 38 | ||||||
| Total Income | 70,285 | 70,285 | |||||||
| Expenditure on: | |||||||||
| Raising funds | (278) | (278) | |||||||
| Charitable activities | (63,820) | (63,820) | |||||||
| Total Expenditure | (64,098) | (64,098) | |||||||
| Net movement in funds | 6,187 | 6,187 | |||||||
| Reconciliation of funds | |||||||||
| Total funds brought forward | 35,835 | 35,835 | |||||||
| Total funds carried forward | 12 | 42,022 | 42,022 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 12.
Page 5
Abbotts Ann Nursery School
(Registration number: 1169193) Balance Sheet as at 31 August 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Note | £ | £ | ||
| Current assets | ||||
| Cash at bank and in hand | 39,288 | 42,487 | ||
| Creditors: Amounts falling due within one year | 10 | (822) | (465) | |
| Net assets | 38,466 | 42,022 | ||
| Funds of the charity: | ||||
| Restricted funds | 889 | - | ||
| Unrestricted income funds | ||||
| Unrestricted funds | 37,577 | 42,022 | ||
| Total funds | 12 | 38,466 | 42,022 |
The financial statements on pages 5 to 11 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Beth Wildbore Trustee
Page 6
Abbotts Ann Nursery School
Notes to the Financial Statements for the Year Ended 31 August 2021
1 Accounting policies
Basis of preparation
The accounts are prepared on a receipts and payments basis.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Restricted income 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.
Page 7
Abbotts Ann Nursery School
Notes to the Financial Statements for the Year Ended 31 August 2021
2 Income from donations and legacies
| Unrestricted | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| funds | |||||||||
| Total | Total | ||||||||
| General | 2021 | 2020 | |||||||
| £ | £ | £ | |||||||
| Donations and legacies; | |||||||||
| Donations from individuals | 569 | 569 | 1,755 | ||||||
| Other income from donations and legacies | 2,884 | 2,884 | 848 | ||||||
| 3,453 | 3,453 | 2,603 | |||||||
| 3 | Income from charitable activities | ||||||||
| Unrestricted | |||||||||
| funds | |||||||||
| Restricted | Total | Total | |||||||
| General | funds | 2021 | 2020 | ||||||
| £ | £ | £ | £ | ||||||
| 64,394 | 1,315 | 65,709 | 67,644 |
Page 8
Abbotts Ann Nursery School
Notes to the Financial Statements for the Year Ended 31 August 2021
In July 2021 Abbotts Ann Nursery School were awarded a grant of £889.00 from Test Valley Borough Council to be used towards the purchase of specific items and equipment for the benefit of the children. The funds were received in August 2021 and are shown as restricted funds as the specific items had not been purchased before the end of the financial year. The Nursery is grateful to TVBC for their support.
4 Investment income
| Unrestricted | |||||||
|---|---|---|---|---|---|---|---|
| funds | |||||||
| Total | Total | ||||||
| General | 2021 | 2020 | |||||
| £ | £ | £ | |||||
| Interest receivable and similar income; | |||||||
| Interest receivable on bank deposits | 3 | 3 | 38 |
5 Expenditure on raising funds
a) Costs of generating donations and legacies
| Unrestricted | ||||||||
|---|---|---|---|---|---|---|---|---|
| funds | ||||||||
| Total | Total | |||||||
| General | 2021 | 2020 | ||||||
| Note | £ | £ | £ | |||||
| Donations | 391 | 391 | 278 | |||||
| Total | ||||||||
| 2021 | ||||||||
| £ |
6 Net incoming/outgoing resources
Net (outgoing)/incoming resources for the year include:
2021 £
7 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
8 Staff costs
The aggregate payroll costs were as follows:
Page 9
Abbotts Ann Nursery School
Notes to the Financial Statements for the Year Ended 31 August 2021
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Staff costs during the year were: | |||
| Wages and salaries | 56,026 | 49,507 | |
| Pension costs | 502 | 470 | |
| 56,528 | 49,977 | ||
The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:
Employees
| 2021 | 2020 | ||
|---|---|---|---|
| No | No | ||
| 5 | 7 |
5 (2020 - 2) of the above employees participated in the Defined Contribution Pension Schemes.
Contributions to the employee pension schemes for the year totalled £502 (2020 - £470).
No employee received emoluments of more than £60,000 during the year
9 Taxation
The charity is a registered charity and is therefore exempt from taxation.
10 Creditors: amounts falling due within one year
| 10 Creditors: amounts falling due within one year | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Other taxation and social security | 684 | 371 |
| Other creditors | 138 | 94 |
| 822 | 465 |
11 Pension and other schemes
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £502 (2020 - £470).
12 Funds
Page 10
Abbotts Ann Nursery School
Notes to the Financial Statements for the Year Ended 31 August 2021
| Balance at 1 | Balance at 1 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| September | Incoming | Resources | Balance | at 31 | |||||
| 2020 | resources | expended | August | 2021 | |||||
| £ | £ | £ | £ | ||||||
| Unrestricted funds | |||||||||
| General | (42,022) | (67,459) | 71,904 | (37,577) | |||||
| Restricted funds | - | (1,315) | 426 | (889) | |||||
| Total funds | (42,022) | (68,774) | 72,330 | (38,466) | |||||
| Balance at 1 | |||||||||
| September | Incoming | Resources | Balance | at 31 | |||||
| 2019 | resources | expended | August | 2020 | |||||
| £ | £ | £ | £ | ||||||
| Unrestricted funds | |||||||||
| General | (35,835) | (70,007) | 63,820 | (42,022) |
13 Analysis of net assets between funds
| Unrestricted | ||||||
|---|---|---|---|---|---|---|
| funds | ||||||
| Restricted | ||||||
| General | funds | Total funds | ||||
| £ | £ | £ | ||||
| Current assets | 38,399 | 889 | 39,288 | |||
| Current liabilities | (822) | - | (822) | |||
| Total net assets | 37,577 | 889 | 38,466 | |||
| 14 Analysis of net funds | ||||||
| At 1 September | At 31 August | |||||
| 2020 | Cash flow | 2021 | ||||
| £ | £ | £ | ||||
| Cash at bank and in hand | 42,487 | (3,199) | 39,288 | |||
| Net debt | 42,487 | (3,199) | 39,288 |
Page 11