Charity Registration No. 1177864
CARMEL PLAYGROUP AND TODDLERS
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
CARMEL PLAYGROUP AND TODDLERS
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Julie Biggadike |
|---|---|
| Rebecca Farrel-Jones | |
| Catherine Kelly | |
| Lauren Smith | |
| Charity number | 1177864 |
| Principal address | Ysgol Bro Carmel |
| Carmel Road | |
| Carmel | |
| Holywell | |
| Flintshire | |
| United Kingdom | |
| CH8 8NU | |
| Independent examiner | Azets Audit Services |
| Brynford House | |
| 21 Brynford Street | |
| Holywell | |
| Flintshire | |
| United Kingdom | |
| CH8 7RD |
CARMEL PLAYGROUP AND TODDLERS
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 |
| Independent examiner's report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 9 |
CARMEL PLAYGROUP AND TODDLERS
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
The trustees present their annual report and financial statements for the year ended 31 August 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011 and "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)".
Objectives and activities
The charity's objects are to enhance the development and education of children in Wales, for the public benefit, by encouraging parents to understand and provide for their needs through high quality childcare provision and there has been no change in these during the year.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The charity meets the Charity Commission's public benefit criteria under both the advancement of education, the advancement of citizenship or community development headings.
Achievements and performance
Carmel Playgroup and Toddlers was dormant for the year ended 31 August 2019 and began formal operations from the new school term in September 2019 for children's education.
Financial review
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level sufficient to continue the charitable activities of the charity should income and fund raising activities fall short. Any surplus funds which are not likely to be needed to pay for activities will be placed on deposit to earn interest.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charity's governing document is its constitution and the charity was registered, with the Charity Commission, as a Charitable Incorporated Organisation (CIO) on 9 April 2018.
| The trustees who served during the year and up to the date of signature of the financial statements were: | The trustees who served during the year and up to the date of signature of the financial statements were: |
|---|---|
| Julie Biggadike | |
| Lowri Pope | (Resigned 30 January 2023) |
| Michelle Simpson | (Resigned 30 January 2023) |
| Rebecca Farrel-Jones | |
| Catherine Kelly | |
| Carley Jones | (Resigned 30 January 2023) |
| Lauren Smith |
The Board of Trustees is responsible for the strategic direction and policy of the charity. The day to day running of the charity is delegated to paid staff and volunteers.
The trustees' report was approved by the Board of Trustees.
Trustee Dated: 30 June 2023
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CARMEL PLAYGROUP AND TODDLERS
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CARMEL PLAYGROUP AND TODDLERS
I report to the trustees on my examination of the financial statements of Carmel Playgroup and Toddlers (the charity) for the year ended 31 August 2022.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared 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 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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 charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 financial statements to be reached.
Susanna Cassey FCA Azets Audit Services
Brynford House 21 Brynford Street Holywell Flintshire CH8 7RD United Kingdom
Dated: 30 June 2023
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CARMEL PLAYGROUP AND TODDLERS
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2021 | ||
| Notes | £ | £ | |
| Income: | |||
| Early entitlement and assisted places | 2 | 36,946 | 29,691 |
| Fees and fundraising | 3 | 10,330 | 4,132 |
| Investments | 4 | 1 | 1 |
| Other income | 5 | (1,861) | 13,439 |
| Total income | 45,416 | 47,263 | |
| Expenditure on: | |||
| Charitable activities | 6 | 47,303 | 43,729 |
| Net (expenditure)/income for the year/ | |||
| Net movement in funds | (1,887) | 3,534 | |
| Fund balances at 1 September 2021 | 24,508 | 20,974 | |
| Fund balances at 31 August 2022 | 22,621 | 24,508 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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CARMEL PLAYGROUP AND TODDLERS
BALANCE SHEET
AS AT 31 AUGUST 2022
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Income funds Unrestricted funds |
2022 £ 23,515 (894) |
£ 22,621 22,621 22,621 |
2021 £ 25,006 (498) |
£ 24,508 |
|---|---|---|---|---|
| 24,508 | ||||
| 24,508 |
The financial statements were approved by the Trustees on 30 June 2023
Trustee
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CARMEL PLAYGROUP AND TODDLERS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
1 Accounting policies
Charity information
Carmel Playgroup and Toddlers is a Charitable Incorporated Organisation governed by its constitution.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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CARMEL PLAYGROUP AND TODDLERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.7 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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CARMEL PLAYGROUP AND TODDLERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
2 Early entitlement and assisted places
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Early entitlement and assisted places | 36,946 | 29,691 | |
| 3 | Fees and fundraising | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Fees | 10,330 | 4,132 | |
| 4 | Investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Bank deposit interest | 1 | 1 | |
| 5 | Other income | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Government grants | (1,861) | 9,386 | |
| Grants - Job Retention Scheme | - | 4,053 | |
| (1,861) | 13,439 |
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CARMEL PLAYGROUP AND TODDLERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
6 Charitable activities
| Playgroup | Playgroup | |
|---|---|---|
| costs | costs | |
| 2022 | 2021 | |
| £ | £ | |
| Staff costs | 38,793 | 37,999 |
| Memberships | 35 | 35 |
| Rent | 1,352 | - |
| Expenses and resources | 257 | 360 |
| Telephone | 301 | 539 |
| Equipment | 3,851 | 2,179 |
| Insurance | 512 | 491 |
| Uniforms | 171 | - |
| Snacks | 1,061 | 1,131 |
| Computer software | 131 | 119 |
| Payroll and administration | 360 | 480 |
| Sundry expenses | 1 | - |
| Accountancy | 438 | 396 |
| Bank charges | 40 | - |
| 47,303 | 43,729 | |
| 47,303 | 43,729 |
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
8 Employees
The average monthly number of employees during the year was:
| 2022 | 2021 | |
|---|---|---|
| Number | Number | |
| 4 | 4 | |
| Employment costs | 2022 | 2021 |
| £ | £ | |
| Wages and salaries | 38,696 | 37,804 |
| Social security costs | (78) | 195 |
| Other pension costs | 175 | - |
| 38,793 | 37,999 |
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CARMEL PLAYGROUP AND TODDLERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
(Continued)
| 8 Employees There were no employees whose annual remuneration was more than £60,000. 9 Creditors: amounts falling due within one year Other taxation and social security Other creditors Accruals and deferred income |
(Conti 2022 £ 378 79 437 894 |
nued) 2021 £ 103 - 395 |
| 498 |
10 Related party transactions
There were no disclosable related party transactions during the year.
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