Borras Park Full Day Care Provision
Financial Statements
For The Year Ended 31 March 2022
Borras Park Full Day Care Provision Reference and Administrative Details
Charity Name Borras Park Full Day Care Provision
Charity Number 1179617 Principal Address Borras Park Primary School Borras Park Road Wrecsam LL12 7TH Trustees Natalie Rose Critchlow Sian Jones Sarah Catherine Hurst Deanne Jones Melanie Roxburgh Jennifer Diane Jones Robert Nicholson Accountant Community Accounting Services Ltd 7 Napoleon Drive Shrewsbury SY3 5PH
Trustees' Report of Borras Park Full Day Care Provision on the Accounts for the Year Ended 31 March 2022
The trustees present their annual report and financial statements of the charity for the year ended 31 March 2022. The financial statements have been prepared in accordance with the Charities Act 2011 and the Charities SORP (FRS 102) together with Update Bulletin 1.
Structure, Governance and Management
Borras park Full Day Care provision is a registered charity, number 1179617, and is constituted as a Charitable Incorporated Organisation (CIO) whose only voting members are its charity trustees. The charity is located in buildings within Borras Park Community Primary School in Wrexham, North Wales.
The Charitable Incorporated Organisation was established by former Governors of the Borras Park Playscheme Committee who are now the charity trustees. The net assets from the former Borras Park After School Play Scheme were transferred to the charity as a donation when the charity was established on 21 August 2018.
At the trustee meetings, which are held at least three times a year, the trustees agree the broad strategy and areas of activity for the CIO including consideration of fund raising, investment, reserves and risk management policies and performance.
The day to day administration of funds and the processing and handling of applications is delegated to the Manager and Deputy Manager of the setting who are not Trustees but have delegated responsibility to manage the funds.
The Responsible Individuals for the setting are both Trustees and they monitor the funds and make recommendations to the Trustees concerning the funds.
There is a child protection policy in place. Criminal Records Bureau checks are carried out prior to commencement of employment or trusteeship and checks are carried out again in line with statutory requirements.
Objectives and Activities
The objectives of Borras Park Full Day Care Provision are for the public benefit, to advance the development and education of children in particular by:
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Providing sessional and full day care;
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Promoting their care and safety;
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Promoting their education and promoting parental involvement;
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Promoting their health and wellbeing;
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Providing services to support them and their families and carers.
Appointment and Induction of Trustees
New trustees are appointed by the existing trustees and serve for two years, after which they may put themselves forward for re-appointment.
The constitution provides for a minimum of three trustees to a maximum of 12 charity trustees.
New trustees may be sought by open advertisement but the ultimate decision on selection is a matter for the existing trustees.
On appointment new trustees sign a model trustee declaration statement committing them to giving of their time and expertise.
New trustees will have an initial meeting with the Chair and the trustees and will receive a welcome pack with a copy of the constitution, the annual report and the Charity Commission’s guidance ‘The Essential Trustee: What you need to know’ and ‘Charities and Public Benefit’.
All trustees give of their time freely and no trustee remuneration was paid last year. Trustees are required to disclose all relevant interests and register them with the Chair of the Committee and withdraw from decisions where a conflict of interest arises.
Risk Management
The trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. The trustees consider a decline in funding through withdrawal of Government/LA funding by failure to renew the Early Entitlement contract or withdrawal of the funded 30 hours free childcare by Welsh Government to constitute the charity’s major financial risk. The trustees manage this risk by ensuring that funding is secured in advance for those childcare spaces and that there are sufficient reserves in place should the funding be suddenly withdrawn.
Our major operational risk is the availability of space and the fluctuating costs of rental agreement which is controlled by the school and the Local Authority. The trustees manage this risk by holding sufficient funds to invest towards securing new premises and ensuring that there is a written agreement in place between ourselves and the local authority in terms of funding and secured leasehold benefits.
Achievements and Performance in the year
The year began with Covid restrictions starting to relax. After School Club was still operating on two sites which resulted in increased staffing costs. Bookings were at around 70% occupancy, but with more parents returning to work, this increased to full capacity by July.
Plans for the relocation of the Full Day Care setting to the new site progressed throughout the Summer and Trustees were kept informed of changes to plans, such as relocation of doors and gates to allow access directly onto the play area outdoors and resurfacing of tarmac to secure more space both indoors and out.
Phase 1 of the building work was handed over to school in November 2021. Contingency plans were put into place to accommodate children while refurbishment of Phase 2 was underway which meant that the Childcare space on the Junior site was unavailable. This could have impacted on the number of Early Education children needing Wraparound provision during the Spring and Summer term, but numbers remained lower than normal, and children were able to use the Childcare provision on the Infant site without any disruption. It did, however, restrict the number of places available for Play Group children, and places had to be carefully managed.
As the number of children accessing the Full Day Care Provision started to improve towards the end of November, numbers in After School Club had to be increased on Wednesdays and Thursdays as they reached full capacity each week.
During this time two members of staff left to seek alternative employment, and were replaced by two experienced qualified members of staff on 30 hours contracts and an additional trainee. An additional staff member was also employed to deliver support for a pupil with additional learning needs.
As numbers increased after Christmas, two further appointments were made. A book- keeper was appointed to manage the accounts, reconcile receipts against the accounts, take minutes for meetings, update policies and type up supervisions. A room leader was also appointed to take the lead in After School Club and Holiday Club and takes charge alongside the Manager and the Deputy.
Trustees discussed the healthy reserves in the bank account and the associated risks regarding FSA protection should a bank fold. Trustees considered whether it would be worth investing the balance once the Local Authority had been paid and reserves set aside in line with our constitution and guidance issued by the Charity Commission and the pre-school Learning Alliance.
Following this discussion the Manager put forward an ambitious and exciting proposal and Business Plan to expand the Full Day Care provision and invest funds to set up a Community Hub or Enterprise Centre which would allow parents to socialise, seek advice and support, have coffee mornings and access a crèche facility.
The project would eventually be self-financing through various funding streams but would require an independent Committee and a Community Development Officer.
After much research and consideration Trustees agreed that the proposal was an ambitious and aspiring project in light of the significant changes taking place with the relocation to the ‘new-build’, but felt the ideal solution would be to develop such a project on our own premises at a future date, if space was available.
Lease
The lease agreement remained the same for this financial year but will need reviewing next year as Full Day Care will need to source their own cleaning contract, grounds maintenance, removal of clinical waste, IT consumables, stationery, computer costs, resources, snack and also HR support, once they relocate into the new building.
Assisted Places
Assisted places were offered to two pupils on a respite basis. Attendance was intermittent but the emergency places were kept open should they require support.
An Assisted place was used for a short time for a pupil while his mother recovered from a traumatic pregnancy and delivery.
Trustee Committee
The Trustee Committee welcomed two new Trustees at the AGM on 29th September 2021 – Melanie Roxburgh and Natalie Critchlow. Ceri Postle resigned as Trustee and Kirsty Beynon finished at the same time. Rob Nicholson was nominated as Chair and Natalie Critchlow as Vice Chair. Jennifer Jones was elected as Secretary and Melanie Roxburgh as Treasurer.
Bank accounts were updated to reflect the changes in Trustees and signatories to the account.
Fees
Proposals to increase fees were agreed with Trustees. These have not changed for many years and will take place at the start of the new financial year 1st April 2022.
Premises
We have designated £200,000 of our funds with the understanding that there will be a lease agreement to reflect the donation from the charity towards long term use of the premises.
A written contract is still outstanding but costs have been discussed in several strategy meetings with Read construction and the Council and remain as discussed originally despite increases in building materials.
Continued Professional Development
Elklan training to improve language and Communication skills across the setting - early education staff
Communication Friendly spaces training - Elizabeth Jarman – all staff
‘The Curiosity Approach’- an accreditation program – all staff
Leadership and Management training – Manager and Deputy
Level 5 CCLD Training – Deputy Manager
The training above is aligned to latest research into brain development, physicality and learning, skills acquisition and interpersonal connectivity, which has led to staff working hard to transform and change provision and create highly effective and intellectually active spaces within the setting.
Financial Review
The fund balance carried forward at 31st March 2021 was £584,225. The fund balance carried forward at 31st March 2022 was £587,626, showing an increase of £3,401 in the year.
Reserves Policy
It is Trustee policy to maintain a balance on unrestricted funds (if possible), which equates to at least three months unrestricted payments.
As a non-profit making charity we have reviewed the Full Day Care Provision’s need for reserves in line with our constitution and guidance issued by the Charity Commission and the pre-school Learning
Therefore the charity will set aside three months unrestricted payments amounting to £60,000 which will cover wages and basic expenditure to cover emergency situations that may arise from time to time, such as the recent pandemic, lower occupancy levels, redundancy or a source of funding not being renewed.
We still need to set aside funds for future projects, the main one being the relocation to our new building within the school premises on the KS2 site under Wrexham Council’s 21st century Schools redevelopment programme. This amounts to a commitment of £200,000 agreed with the Local Authority, subject to a lease agreement.
As a non profit making charity we have reviewed the Full Day Care Provision’s need for reserves in line with our constitution and guidance issued by the Charity Commission and the pre-school Learning Alliance.
Declaration
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Rob Nicholson
Chair
Date
Independent Examiner's Report to the Management Committee Borras Park Full Day Care Provision on the Accounts for the Year Ended 31 March 2022
Basis of independent examiner’s report
We report on the accounts of Borras Park Full Day Care Provision for the year ended 31 March 2022 which are set out on pages 2-13.
The Group's officers are responsible for the preparation of the accounts. The Group's officers consider that an audit is not required for this year and that an independent examination is needed. It is our responsibility to:
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examine the accounts
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to follow the general directions for the conduct of an independent examination
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to state whether particular matters have come to our attention.
Basis of independent examiner’s statement
Our examination was carried out in accordance with general directions for an independent examination. An examination includes a review of the accounting records kept by the committee 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 a committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with our examination, no matter has come to our attention:
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which gives us reasonable cause to believe that in, any material respect, the requirements • to keep appropriate accounting records; and
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to prepare accounts which accord with the accounting records and comply with applicable financial reporting standards
have not been met; or
- to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Community Accounting Services Ltd 7 Napoleon Drive Shrewsbury SY3 5PH
Date: 22-12-2022
Borras Park Full Day Care Provision Statement of Financial Activities for the Year Ended 31 March 2022
| Note Incoming Resources Incoming resources from generated funds: Voluntary income 3 Incoming resources from charitable activites 4 Bank interest received Total Incoming Resources Resources Expended Charitable Activities 5 Governance costs 6 Total Resources Expended Transfer Between Funds Net Incoming Resources Fund balance brought forward as at 1 April 2021 Fund Balance Carried Forward at 31 March 2022 Net Incoming Resources Before Transfers |
Unrestricted Funds Restricted Funds Total Funds 2022 2022 2022 £ £ £ 525 - 525 199,556 - 199,556 55 - 55 200,136 - 200,136 196,085 - 196,085 675 - 675 196,760 - 196,760 3,376 - 3,376 - - - 3,376 - 3,376 584,225 - 584,225 587,601 - 587,601 |
Total Funds 2021 £ 2,453 174,688 107 |
|---|---|---|
| 177,248 | ||
| 146,975 650 |
||
| 147,625 | ||
| 29,623 - |
||
| 29,623 | ||
| 554,602 | ||
| 584,225 |
The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities.
Borras Park Full Day Care Provision Balance Sheet as at 31 March 2022
----- Start of picture text -----
Note 2022 2021
£ £ £ £
Fixed Assets 8
Tangible Fixed Assets 10,952 7,974
Current Assets
Bank balances 578,542 578,119
578,542 578,119
Current Liabilities
Creditors 9 (1,893) (1,868)
(due in less than 1 year) (1,893) (1,868)
Net Assets 587,601 584,225
Represented by Funds
Unrestricted fund 11 587,601 584,225
Restricted funds 11 - -
587,601 584,225
----- End of picture text -----
The Trustees approve the accounts which comprise of the SOFA, the Balance Sheet and the related notes and acknowledge their responsibility for the accounts, including the appropriateness of the applicable financial reporting framework, and for providing Community accounting Services Ltd with all information and explanations necessary for their compilation.
Rob Nicholson Chair Date
Borras Park Full Day Care Provision Notes to the Financial Statements for the Year Ended 31 March 2022
1. Accounting Policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
(a) Basis of accounting
The financial statements have been prepared under the historical cost convention and in accordance with the Charities SORP (FRS 102) together with update Bulletin 1.
(b) Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
(c) Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to, and certain to receive, the income and the amount can be quantified with reasonable accuracy. The following policies are applied to particular categories of income:
Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable.
(d) Resources Expended
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. Expenditure is recognised on an accrual basis and is reported as part of the expenditure to which it relates:
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the Independent Examiner's fee and payroll costs.
All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. Floor areas, per capita or estimated usage.
(e) Fixed Assets
Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Fixtures, fittings and equipment
15% reducing balance basis
Impairment reviews are carried out as and when evidence comes to light that the recoverable amount of a functional fixed asset is below its net book value due to damage, obsolescence or other relevant factors.
2 Trustee's Remuneration
No Trustees received a remuneration during the year.
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year.
Borras Park Full Day Care Provision Notes to the Financial Statements for the Year Ended 31 March 2022
3 Voluntary Income
| Unrestricted Restricted Total Funds Funds Funds 2022 2022 2022 £ £ £ Grants received 360 - 360 Donations 45 - 45 Other income 120 - 120 Total 525 - 525 4 Incoming resources from charitable activities Unrestricted Restricted Total Funds Funds Funds 2022 2022 2022 £ £ £ Club fees 199,556 - 199,556 Total 199,556 - 199,556 5 Resources Expended - Unrestricted Restricted Total Charitable Activities Funds Funds Funds 2022 2022 2022 £ £ £ Support Costs Wages and salaries 146,784 - 146,784 Pensions 1,521 - 1,521 Staff training and welfare 2,262 - 2,262 Payroll charges 805 - 805 Loss on disposal of tangible fixed assets 1,888 - 1,888 Depreciation of tangible fixed assets 1,933 - 1,933 Direct costs Purchases 22,673 - 22,673 Postage, Printing & Stationery 349 - 349 Computer costs 1,929 - 1,929 Rent 10,000 - 10,000 Insurance 1,527 - 1,527 Subscriptions 83 - 83 Repairs and maintenance 1,515 - 1,515 Cleaning 1,433 - 1,433 Travel 230 - 230 Miscellaneous costs 1,153 - 1,153 Bank charges - - - Fines - - - Total 196,085 - 196,085 6 Governance Costs Unrestricted Restricted Total Funds Funds Funds 2022 2022 2022 £ £ £ Independent Examiner's fee 675 - 675 |
Total Funds 2021 £ 2,453 - - |
|---|---|
| 2,453 | |
| Total Funds 2021 £ 174,688 |
|
| 174,688 | |
| Total Funds 2021 £ 117,980 1,253 505 769 221 1,407 7,647 200 996 12,000 1,308 193 1,017 932 - 215 32 300 |
|
| 146,975 | |
| Total Funds 2021 £ 650 |
Borras Park Full Day Care Provision Notes to the Financial Statements for the Year Ended 31 March 2022
7 Net Incoming Resources for the Year
| This is stated after charging: Depreciation of owned assets |
2022 1,933 |
2021 1,407 |
|---|---|---|
8 Tangible Fixed Assets
| Tangible Fixed Assets | |
|---|---|
| Fixtures, Fittings | |
| & Equipment | |
| £ | |
| Cost | |
| Cost brought forward as at 1 April 2021 | 21,150 |
| Additions | 6,799 |
| Disposals | (2,914) |
| As at 31 March 2022 | 25,035 |
| Depreciation | |
| Brought forward as at 1 April 2021 | 13,176 |
| Charge for the year | 1,933 |
| Depreciation on disposals | (1,026) |
| As at 31 March 2022 | 14,083 |
| Net Book Value | |
| As at 31 March 2021 | 7,974 |
| As at 31 March 2022 | 10,952 |
9 Creditors - due in less than one year
| HMRC PAYE Accruals |
2022 £ 1,218 675 1,893 |
2021 £ 1,218 650 |
|---|---|---|
| 1,868 |
Borras Park Full Day Care Provision Notes to the Financial Statements for the Year Ended 31 March 2022
10 Analysis of Net Assets Between Funds
| Tangible Fixed Assets Current Assets Current Liabilities Net Assets at 31 March 2022 11 Statement of Funds Brought Forward £ Unrestricted Funds 584,225 Restricted Funds - Total of Funds 584,225 |
Unrestricted Funds £ 10,952 578,542 (1,893) 587,601 Incoming Resources £ 200,136 - 200,136 |
Restricted Funds £ - - - - Resources Expended £ (196,760) - (196,760) |
Total Funds £ 10,952 578,542 (1,893) 587,601 Transfers in/(out) £ - - - |
Carried Forward £ 587,601 - |
|---|---|---|---|---|
| 587,601 |