2021-03-31-accounts - Cylch Meithrin Cynwyd

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REGISTERED CHARITY NUMBER:

TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 FOR

Cylch Meithrin Cynwyd

Connolly Accountants & Business Advisors Ltd Chartered Certified Accountants The Stable Yard Vicarage Road Stony Stratford Milton Keynes Buckinghamshire MK11 1BN

Cylch Meithrin Cynwyd

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

	Page
Trustees' Report	1 to 2
Independent Examiner's Report	3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Financial Statements	6 to 10
Detailed Statement of Financial Activities	11 to 12

Cylch Meithrin Cynwyd

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

Principal address

Ysgol Isaf Hall Cynwyd Corwen Denbighshire LL21 0HR

Trustees

Ms A Lawrence Trustee Mrs A M Ellison Ms L Davies

Independent examiner

Connolly Accountants & Business Advisors Ltd Chartered Certified Accountants The Stable Yard Vicarage Road Stony Stratford Milton Keynes Buckinghamshire MK11 1BN

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

TRUSTEES RESPONSIBILITY STATEMENT

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
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 which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They 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.

Cylch Meithrin Cynwyd

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

Approved by order of the board of trustees on 22 April 2021 and signed on its behalf by:

Mrs A M Ellison - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CYLCH MEITHRIN CYNWYD

I report on the accounts for the year ended 31 March 2021, which are set out on pages four to ten.

Responsibilities and basis of report

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

I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

My role is to state whether any material matters have come to my attention giving me cause to believe:

that accounting records were not kept as required by section 130 of the Act; or
that the accounts do not accord with those records; or
that the accounts do not comply with the accounting requirements of the Act; or
that there is further information needed for a proper understanding of the accounts.

Independent examiner's statement

I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.

Declan Connolly Connolly Accountants & Business Advisors Ltd Chartered Certified Accountants The Stable Yard Vicarage Road Stony Stratford Milton Keynes Buckinghamshire MK11 1BN

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

Cylch Meithrin Cynwyd

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

2021
Unrestricted
fund
Notes
£
INCOMING RESOURCES
Incoming resources from generated funds
Income
61,574
Activities for generating funds
3
2,180
Total incoming resources
63,754
RESOURCES EXPENDED
Costs of generating funds
Cost of generating income
4
3,773
Fundraising trading: cost of goods sold and other
costs
5
62,317
Total resources expended
66,090
NET INCOMING/(OUTGOING)
RESOURCES
(2,336)
RECONCILIATION OF FUNDS
Total funds brought forward
3,400
TOTAL FUNDS CARRIED FORWARD
1,064

2020
Total
funds
£
81,800
882
82,682
8,638
74,478
83,116
(434)
3,834
3,400

The notes form part of these financial statements

Cylch Meithrin Cynwyd

BALANCE SHEET AT 31 MARCH 2021

2021 Unrestricted fund Notes £ CURRENT ASSETS Debtors 8 339 Cash at bank and in hand 6,736 7,075 CREDITORS Amounts falling due within one year 9 (1,011) NET CURRENT ASSETS 6,064 TOTAL ASSETS LESS CURRENT LIABILITIES 6,064 CREDITORS Amounts falling due after more than one year 10 (5,000) NET ASSETS 1,064 FUNDS 11 Unrestricted funds 1,064 TOTAL FUNDS 1,064	2020 Total funds £ - 5,455 5,455 (2,055) 3,400 3,400 - 3,400 3,400 3,400

The financial statements were approved by the Board of Trustees on 22 April 2021 and were signed on its behalf by:

Mrs A M Ellison -Trustee

The notes form part of these financial statements

Cylch Meithrin Cynwyd

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. GOVERNMENT GRANTS

Covid-19 related Job Retention Scheme government grants are included in the 'grant income' line item. There are no unfulfilled conditions or other contingencies attaching to these grants. The grants are recognised under the performance model and the income recognised over the period of furlough on a straight-line basis.

2. ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.

Incoming resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

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.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 costs 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is ant contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from related companies 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 costs, 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 business 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.

Taxation

The charity is exempt from tax on its charitable activities.

Cylch Meithrin Cynwyd

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021

2. ACCOUNTING POLICIES - continued

Fund accounting

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

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

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.

3. ACTIVITIES FOR GENERATING FUNDS

Raffle COST OF GENERATING INCOME Rent Support costs	2021 £ 2,180 2021 £ 1,686 2,087 3,773	2020 £ 882
		2020 £ 5,203 3,435
		8,638

4. COST OF GENERATING INCOME

5. FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS

Hire of plant and machinery Craft and display Toys and play Support costs	2021 £ - 343 601 61,373 62,317	2020 £ 319 1,064 1,047 72,048
		74,478

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020 .

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020 .

Cylch Meithrin Cynwyd

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021

7. STAFF COSTS 2021 £ Wages and salaries 57,947 Social security costs 510 Other pension costs 992 59,449 The average monthly number of employees during the year was as follows: 2021 Employees 4 No employees received emoluments in excess of £60,000. 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 £ Trade debtors 339 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 £ Trade creditors 61 Taxation and social security 507 Other creditors 443 1,011 10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2021 £ Other creditors 5,000 11. MOVEMENT IN FUNDS Net movement At 1.4.20 in funds At £ £ Unrestricted funds General fund 3,400 (2,336) TOTAL FUNDS 3,400 (2,336)	2020 £ 69,102 601 758	2020 £ 69,102 601 758
	70,461
	2020 5 2020 £ - 2020 £ - 1,755 300 2,055 2020 £ - 31.3.21 £ 1,064 1,064	2020 5
		2020 £ -
		2020 £ - 1,755 300
		2,055
		2020 £ -
		1,064

Cylch Meithrin Cynwyd

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021

11. MOVEMENT IN FUNDS - continued

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

	Incoming	Resources	Movement in
	resources	expended	funds
	£	£	£
Unrestricted funds
General fund	63,754	(66,090)	(2,336)
TOTAL FUNDS	63,754	(66,090)	(2,336)
Comparatives for movement in funds
		Net movement
	At 1.4.19	in funds	At 31.3.20
	£	£	£
Unrestricted Funds
General fund	3,834	(434)	3,400
TOTAL FUNDS	3,834	(434)	3,400

Comparative net movement in funds, included in the above are as follows:
	Incoming	Resources	Movement in
	resources	expended	funds
	£	£	£
Unrestricted funds
General fund	82,682	(83,116)	(434)
TOTAL FUNDS	82,682	(83,116)	(434)

A current year 12 months and prior year 12 months combined position is as follows:

At Unrestricted funds General fund TOTAL FUNDS	Net movement 1.4.19 in funds At 31.3.21 £ £ £ 3,834 (2,770) 1,064 3,834 (2,770) 1,064	Net movement 1.4.19 in funds At 31.3.21 £ £ £ 3,834 (2,770) 1,064 3,834 (2,770) 1,064
		1,064

Cylch Meithrin Cynwyd

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021

11. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement in
	resources	expended	funds
	£	£	£
Unrestricted funds
General fund	146,436	(149,206)	(2,770)
TOTAL FUNDS	146,436	(149,206)	(2,770)

Cylch Meithrin Cynwyd

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

INCOMING RESOURCES Income Donations Fees Flintshire CC childcare Other income Grants Activities for generating funds Raffle Total incoming resources RESOURCES EXPENDED Cost of generating income Rent Fundraising trading: cost of goods sold and other costs Hire of plant and machinery Craft and display Toys and play Support costs Management Telephone and internet Postage and stationery Advertising Sundries It costs Other staff costs Uniforms Other Cleaning products Wages and operational costs Wages Social security Pensions Food Accountancy Legal fees Total resources expended	2021 £ 22 40,567 - 112 20,873 61,574 2,180 63,754 1,686 - 343 601 944 22 641 40 206 312 1,221 62 594 57,947 510 992 326 1,768 40 61,583 66,090	2020 £ - 28,847 52,415 538 -
		81,800 882
		82,682 5,203 319 1,064 1,047
		2,430 410 342 - 650 477
		1,879 - 253 69,102 601 758 1,237 1,285 368
		73,351
		83,116

This page does not form part of the statutory financial statements

Cylch Meithrin Cynwyd

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Net expenditure

2021 £ (2,336)	2020 £ (434)

This page does not form part of the statutory financial statements