ST PAUL'S CHILDCARE UNAUDITED REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 Charlty Registration No. 1175452 ST PAUL'S CHILDCARE UNAUDITED REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 CONTENTS Page 3-5 Truslees. Annual Report Statement of Trustees responsibilities 7-8 Independent Examinerfs Report Statement of Financial Activities 10 Balan￿ Sheèt 11-14 )tes on Accounts St Paul's Childcare Trustees Annual Report for the year ended 31 December 2022 Objectives and Activltles The objective of St Paul's Childcare (a Charitsble Incorporated Organisation number 1175452) is the advancement of the development and education of children and young people in accordan￿ with Christian principles and practi￿ in such a way as the charity trustees think fit. The Charity meets the requirements of the Public Benefft provisions of the Charities Act 2011. To facilitate this St Paul's Childcare is responsible for overseeing a Breakfast Club, a Nursery and an After School Club, which are registered wtth Ofsted (Number 2509646) and has a current grading of Good. St Paul's Childcare paid rent to the PCC of Tupsley, St. Paul's Church for the hire of its facilities in orderto achieve its aims. Achlevements and Perforniance St Paul's Childcare CIO began operating on 1st April 2019 and thls report covers the year to 31st De￿mber 2022. Prior to that date the Childcare operated within the structure of the PCC of St Paul's (charity number 1134258). Plans for futurn The trustees are committed to ensure that there is continual improvement of the childcare setting both in terms of the infrastructure and in terms of the continued development of the skills and training of its employees. Flnancial Revlew The year to 31st December 2022 showed a surplus of £ 41,742 (2021 deficit of £24.234). The unrestricted reserves of the Charity were £99,946 (2021 £58,204) at the year end. Cash reserves stood at £100,363 (2021 £51.804) at the year end. In common with other Childcare settings, Covid has had a signfficant effect on the charity's operations for several years. Since Covid restrictions have been removed. St Paul's Childcare income has now exceeded the pre Covid period. The trustees continue to keep a tight control over the chariws costs and have kept the number of employees to at least the minimum level to ensure the correct ratios of employees to children in the setting. The trustees are also committed to ensuring that employees continue to be up to date wtth best practi￿ and there has and will be additional investment in employee training and development. St Paul's Childcare Trustees Annual Report for the year ended 31 December 2022 (cont.) Réserves pollcy It is the policy of St Paul's Childcare to hold in reserve the equivalent of 3 months running costs. including staff wages and rent. The trustees calculate this to be in the region of £75,000 at the year end. As at the balan￿ sheet date the charity has reserves of approximately £25.000 in excess of this level. The trustees are happy at this stage to have reserves in excess of this level as they are concemed about the very high level of inflation in the UK economy. This inflation is expected to increase the costs that affect the charity in future years. Structure, govemance and management The method of the appointmenl of trustees Is set out in the Constitution. They are responsible for making decisions on all matters of general concem and importance to the organisation including deciding on how the funds are to be spent. Recruitment and Appointment of Trustees Trustees are recruited eitherfrom members of the PCC of St Paul's Church or because the trustee has specialist skills that are of value to the operation of the childcare setting. One of the trustees is also the current manager of the setting and is paid salary on nornal commercial terms. New trustees go through an induction process which is detemiined by the incumbent trustees to familiarise themselves with the ethics and organisation of the setting. Reference and admlnlstrativ• inforniatlon Reglstered Charfty name St Paul's Childcare Registered Charity number 1175452 RegisteredlPrlnclpal office cjo St Paul's Church. Community Centre. Church Road. Tupsley. Hereford, HR1 1 RT Govaming document CIO- Foundation Registered 30 Oct 2017 (England and Wales) Trustees Rev. Preb. N P Amistrong Mrs C Evans Mrs C Rushton Mrs R Burrow Mrs D J Hartland Mrs H J Wheadon-Grifffths Bankers Lloyds TSB Bank plc 8 High Town Hereford HR12AE St Paul's Childcare Trustees Annual Report for the year ended 31 December 2022 (cont.) Indèpendent examiners Haines Watts Hereford Limited Chartered At￿untants 3rd Floor. Broadway House 32-35 Broad Street Hereford HR4 9AR Risk Management The Trustees continue to monitor the major risks which the charity fa￿S and has established systems to redu￿ those risks. Risks are reviewed at least annually. The main risks include the health and safety of clients and employees alongside the financial viabilty of the organisation. Fund raising The charity nonnally undertakes several fund-raislng activities during the year including cakes sales, sponsored walks and Christmas fares. The amount of money ralsed is immaterial in comparison with that generated pmviding childcare. All monies raised are used to provide additional items for the benefft of the children in the setting. Following the removal of Covid restrictions the charity resumed fundraising activities during 2022 and as a result raised £2.082 during th8 year. Independent Examiners Haines Watts Hereford Limited have agreed to offer themselves for re-appointment as independent examiners of the charity. On behalf of the board of Trustses Mrs D J Hartland - Chair Date ....Il . l- lo St Paul's Childcare Trustees Annual Report for the year ended 31 Decembar 2022 (cont.) Statement of Truste8s' Responsibilities The trustees are responsible for preparing The Trustees, Annual Report and the financial statements in accordan￿ with applicable law and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting Practice), FRS102 and the Charities SORP (FRS 102). The law applicable to chaiities 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 its incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to". select suitable accounting policies and then apply them consistently; obsenie the methods and principles in the Chartties SORP (FRS 102) -second edÉtion October 2019: make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, prepare the financial statements on the going concem basis unless It is inappropriate to presume that the charity will continue in a business. The trustees are responsible for k￿pIng 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 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the thanty and hen￿ for taking reasonable steps for the prevention and detection of fraud and other irregularities. On behalf of the Trustees Mrs D J Hartland. Chair of trustees. Independent Examlnerfs Report to the Trustees of St Paul's Childcar• I report on the accounts of the charty for the year ended 31 December 2022. Respective responsibilftles of trusteès and axaminar The charitys trustees are responsible for the weparation of the accounts. The charivs trustees considerthat an audti is not required for this year under section 14412) ofthe Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibilty to: examine the accounts under section 145 of the 2011 ACL. follow the procedures laid down in the general DireGtions given by the Charity Commission under section 1445Kb) of ts 2011 A¢L and State whether particular matters have com8 lo my att8nllon. Basls of Independent oxamlnerfs report My examination was carried out in accordance with the general Dir8ckn'ons given by the Charity Commission. An examination indudes a rewew of th8 aco)unting records kept by the charity and a comparison of the accounts presented with those records. It also includ8s consideration of any unusual items or disclosures in the accounts. and seeking explanations from you as trustees ￿n￿MIng any such matters. The procedures undertaken do not prowde all lh8 evtdenc8 that would be required in an audit and consequently no opinion is given as to whether the accounts present a Irue and fair viebrf and the report is limited to those matters set out in the statement below. Independent oxamlnerfs statèment In connection wlth my examination, no matter has come to my attention: which gives me msonabl8 cause to believe thac in any material respecL the quiremants.. to keep accounting records In aC￿rdan￿ with section 130 of th8 2011 ACL. and to prepare accounts which accord with the accounting records and comply wrth the accounting requirements of the 2011 Aci have not been met, or to vthich, In my opinion, attention should be drawn in order to enable a proper understsnding of the acrx)unts to be rea¢hed. Name.. Sophie Powell Relevant professional qualffication or body: FCCA ON BEHALF OF HAINES WATTS HEREFORD LIMITED Charter8d Accountants 3rd Floor Broadway House 3245 Broad Street Hereford HR4 9AR 25 August 2023 St Paul's Chlldore ststoment of Flnanclal Actlvltles (Including Incomo and Expènditure Account) For th• year 0nd￿ 31 tkc•mbor 2022 Unrostrlcted Fund Funds 2022 Funds 2021 Income from charitable &tfvities Childcare Incom8 Other Income 336,659 336.659 283.088 46.193 Total Income 339.741 339.741 329,281 Expenditure Expendibjre on charitable activitiet 297,999 297.999 353.515 Totsl expenditu 297.999 297.999 353,515 Nel incomel{expenditure) arKI net movement in lunds for the year 41.742 41.742 (24,234} Reconciliation of funds Totsi funds brought forward 82.438 Total funds carried forward l actsvit￿S are classed as ￿ntinU1￿j The notes on pages 11 to 14 fomi part of the accounts St Paul's Childcare Balance Sheet At 31 De¢wnber 2022 2022 2021 CUr￿n1 Assets Cash at bank and in hand Debtors 1(M),363 51,804 8,777 80,581 104.369 Liabilities Creditors falling due wrthin one ygar {4.4231 {2.3771 Total assets less ¢urrent liabilities 58.204 The funds of the chaiity UnrestriGted funds 12 58.204 58.204 The notgs on pages 11 to 14 forni part of these wAounts The accounts on pages 910 14 approv￿1 by the 9)veming body and aullK)rised for issue on and are signed on their behalf by Mr8 C Evans Mrs D J Hartland {Chalr) io St Paufs Chlldcar• For th• yaar •nd•d 31 Dec•mbor 2022 1 A¢countlng pollcles The prindpal aLwuntlNJ a(Wed. of 8Stination lurKertainty al Ba*$ of prepwation St Paul's Chi]dcare la a Charitable Org8nisaticffl (CIO) Wiste￿ in E￿jIand and Wa198. Th8 financAal ststsments have kRen prw8r&J in accordm wth the A￿nti￿j and Re[￿]r by Ch8ritses'. Statament of ReC￿mer￿1 P￿alc8 aFvkable to tharibes PTepaMg their ￿￿)Unts in ￿A)rdance wlth the Finanoal ReFrfxtiryJ Stan(Jard apFrfK?iAe in the UK and RaputrI￿ of Ireland IFRS 1021, the CharStt88 2011 and the UK GerwdtyA(* ActathtirvJ PrarAM%. St Paul's child¢a￿ maèts the defin￿ ofa pu￿1¢ benefft entity under FRS 102. As*ts 8nd lia￿litieS 8re initialty rwnised at hu810￿al ¢))st or transacti￿ value unth othemse st8led in tha rèbvant accthntirwj not481. The trustees con$idertho fvnd¥ avaiLabk ￿711 enable dwityto opwate for mc*8 than cfftè J*ar and on that ba￿8 thè i*arity Is a wirvJ cc*Ksm. Cash resm8 have continwj to knkyvve durftYJ 2￿22 and into 2023. Numbers of childr8n attending thè seltirwJ Irmawl in 2￿22 *KI numb8rs are h))kJNJ sIr￿￿ fc*tho r tsrm in Saptsmtér 2￿￿3. cl Income Income is rewnl8thJ thaiity has ￿tillem￿ to the funds. arry [￿rf￿alKe condibon attached to the itemlsl of irKThne havo teen met, it 18 [Woba￿ that the itKome wll be recawed and the 8mr¥Jnt can be measurwl TelHtty. dl Fund a¢counting Unr93tricted funds are avarfable to SFend on actrWt￿ that fvrther any ￿ the purw3es crfthè tharity. Dèsvjnated funds are unr8straXed furNls of the charrty the trustees hava deryded at thgir discrètion to set asKle for a purF¥)s6. Restrithj lurth are donatiorrs the domr has spe¢ifi*l are to ￿ uwj 8oldy fty [￿rti￿lar￿lw ofthè (*wiVs orfor pthoJlar athitses c8rri&J out by the charity. Endo¥wnent furKl$ are r*Jt a¥￿￿fOr 8r*rKJrvJ ￿ thy to day aLlTrli*s inc4yne genera el Expenditure 8nd irreo)vfjralAe VAT Expenditure is r8C(>3ni*J once tP￿ Is a or conslnthe ObrkJ8ih￿ to makè 8 paymanl to a third party, it 18 probab￿ that setknent %bill rwuired ￿ the amwnt ofthe obfYJation can mo¥8ured fj AlOcatI￿ ofSUFWt sUp￿rt costs are those lunctions that assst %bY)rk Crf￿ ch8rity tr*Jt do not diTW undertake 03ts whlth 8UPF4Jrt thè itsitys 8th1t￿. 11 St Paul￿ Chlldcarn Forthe ￿ ended 31 Dewnb•r 2022 gl TarKJlW fix&J assots DeprecAation 18 providgj at the fdlovriThJ annual rate5 In rthrto *Tltg asset over its estwnatsd usthl lifg. Plant aThJ olher is ywar afterwr(tha5e. 33.33% sknbht ljne. h) Cash at bank arKI in hand Cash at bank and In hand indENJa8 cash arbj 8h)rtterm htrJ￿ IKIUKI Inve8th￿S v•7th a sh Ma￿rity of thw mcrfth8 fX1gs5 from the d* d actwisthn cff oF*nI￿ ofth8 de￿art or sknllar a¢cYMJnt. l) Creditors and provisions credito￿ and provTrsions are recr4Jni88d th8 (*wity has a 1xe￿I cdVJatk￿ resU￿rvJ fr(¥n 8 past evant that wll probalhy result in the transf8r of ftjnds to a third party and the amount due to set11& the ob1￿J2￿0n can be Measu￿ or estimaiwj refw. CNlitor5 and F¥OW8K>ns arn ncrfma reccwJnlsed at their setuement am￿rrt after3￿N￿r@ for 8ny tradè discwnts duè. 2 Lffj41 status of the tharlty The Charity Ss 8 Charitable InoNF4xaW Owisatim (CIO) rgJi8tered on 30 Od 2017. The Charlty started tradlro 2019. 12 St Paul's Chlldcar• 2022 2021 3 An•ly¥ls rf ather Inc