## Beckermet Nursery Charitable Incorporated Organisation (CIO)
Trustees' report and financial statements
for the year ended 31 August 2023
Charity number: 1183968
robinson+co
## Chartered Accountants
Gosforth
## Beckermet Nursery
## Contents
||Page|
|---|---|
|Legal and administrative information|1|
|Trustees' report|2 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Cash flow statement|7|
|Notes to the financial statements|8 - 13|
## Beckermet Nursery
## Legal and administrative information
|Charity number|1183968||
|---|---|---|
|Business address|Mill Lane||
||Beckermet||
||CA21 2YD||
|Trustees|T Ripper||
||P Gallagher|Appointed 19th April 2023|
||A Williamson|Appointed 6th October 2022|
|Accountants|robinson+co||
||The Old Forge||
||Beck Place||
||Gosforth||
||CA20 1AT||
|Bankers|The Co-operative Bank Plc||
||PO Box 250||
||Skelmersdale||
||WN8 6WT||
Page 1
## Beckermet Nursery
## Report of the trustees
## for the year ended 31 August 2023
The trustees present their report and the financial statements for the year ended 31 August 2023. The trustees who served during the year and up to the date of this report are set out on page 1.
## Structure, governance and management
## Governing document
Beckermet Nursery was registered as a Charitable Incorporated Organisation (CIO), registered charity number 1183968, on 19 June 2019. The assets, liabilities and undertakings of the unincorporated charity Beckermet Nursery (charity number 1035748) were transferred to the CIO on 28 February 2023, with the CIO becoming operational from 1 March 2023.
## Day to day management
Miss Abigail Shepherd was appointed as Nursery Manager on 7 August 2023, taking over the role previously held by Mrs Patricia Gallagher.
## Trustees
The aim is to maintain a trustee board with a range of skills which will be useful to the organisation. New trustees are taken through an induction procedure.
## Key management personnel remuneration
The Trustees consider the Board of Trustees and the Nursery Manager as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. Trustees give of their time freely and no trustee remuneration was paid for their role as a trustee. The pay of the charity's senior staff is reviewed annually and assessed to ensure that the remuneration set is fair and not out of line with that generally paid for similar roles.
## Objectives and activities
The Charitable Objects are :
To ensure the development and education of children under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups.
## Charitable Activities are:
To provide affordable wraparound childcare incorporating age range up to 17 years in the local community.
## Public Benefit
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
## Achievements and performance
The nursery continue to provide outstanding care and education for children that is accessed by families in the local community and beyond; many parents working at Sellafield nuclear site use the setting for childcare. The nursery has also maintained its staffing levels.
## Financial review
At the balance sheet date the CIO held £294,863 on unrestricted funds and £nil on restricted funds, a satisfactory position.
## Reserves
Beckermet Nursery Management Committee seeks to hold a minimum of 3 months' operating costs in reserves as part of their contingency planning process. At the date of this report this reserve fund was complete and stood at £50,000.
Page 2
## Beckermet Nursery
## Report of the trustees for the year ended 31 August 2023
## Risk management
The trustees have assessed the major strategic, business and operational risks to which the organisation is exposed. They are satisfied that the systems are in place to mitigate the exposure to these risks.
## Plans for future periods
The Nursery plans to upgrade the baby deck area to make it more weather friendly and a usable space throughout the whole year.
The Nursery is currently in the process of applying to Ofsted for clearances to appoint new trustees. The process should be completed by 31 August 2024.
The current Trustees are planning on continuing in their role for the foreseeable future.
## Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which 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 1993 and the Charity (Accounts and Reports) Regulations 2008. 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.
On behalf of the board
P Gallagher Trustee
Page 3
## Beckermet Nursery
## Independent examiner's report to the trustees on the unaudited financial statements of Beckermet Nursery.
I report on the accounts of Beckermet Nursery for the year ended 31 August 2023 set out on pages 5 to 13.
## Respective responsibilities of trustees and independent examiner
As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act) does not apply and that an independent examination is needed. It is my responsibility to examine the accounts under section 43(3)(a) of the Act, to follow the procedures laid down in the General Directions given by the Charity Commission under section 43(7)(b) of the Act, and to state whether particular matters have come to my attention.
## Basis of independent examiner's statement
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 I do not express an audit opinion on the view given by the accounts.
## Independent examiner's statement
In connection with my examination, no matter has come to my attention:
- (i) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep proper accounting records in accordance with section 41 of the Act; and
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act
have not been met; or
- (ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
...........................................................
Jason Spires FCA DChA
## Independent examiner
robinson+co, Chartered Accountants
The Old Forge Beck Place Gosforth CA20 1AT
Page 4
## Beckermet Nursery
## Statement of financial activities
## For the year ended 31 August 2023
|Unrestricted
funds
Notes
£
Incoming resources
Incoming resources from generating funds:
Voluntary income
2
328
Investment income
3
1,555
Incoming resources from charitable activities
4
176,297
Other exceptional income
5
254,564
Total incoming resources
432,744
Resources expended
Charitable activities
6
137,881
Total resources expended
137,881
Net income for the year
294,863
Total funds brought forward
-
Total funds carried forward
294,863|2023
Total
£
328
1,555
176,297
254,564
432,744
137,881
137,881
294,863
-
294,863|2022
Total
£
-
-
-
-|
|---|---|---|
|||-|
|||-|
|||-|
|||-
-|
|||-|
The statement of financial activities includes all gains and losses in the year.
All of the above amounts relate to continuing activities.
The notes on pages 8 to 13 form an integral part of these financial statements.
Page 5
## Beckermet Nursery
## Balance sheet as at 31 August 2023
|Notes
Fixed assets
Tangible assets
11
Current assets
Cash at bank and in hand
Creditors: amounts falling
due within one year
12
Net current assets/(liabilities)
Net assets/(liabilities)
Funds
13
Unrestricted income funds
Total funds|2023
£
£
81,980
213,599
213,599
)
(716
212,883
294,863
294,863
294,863|2022
£
£
-
-
-
-
-
-
-
-|2022
£
£
-
-
-
-
-
-
-
-|
|---|---|---|---|
||||-|
||||-|
||||-|
The financial statements were approved by the trustees on and signed on its behalf by
P Gallagher Trustee
The notes on pages 8 to 13 form an integral part of these financial statements.
Page 6
## Beckermet Nursery
## Cash flow statement
## for the year ended 31 August 2023
|Notes
Net cash provided by/(used by) operating activities
15
Cash flows from investing activities
Interest and dividends
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents transferred from unincorporated charity
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward|2023
£
26,057
1,555
)
(7,609
)
(6,054
20,003
193,596
-
213,599|2022
£
-
-
-|
|---|---|---|
|||-|
|||-
-|
|||-|
The notes on pages 8 to 13 form an integral part of these financial statements.
Page 7
## Beckermet Nursery
## Notes to financial statements
## for the year ended 31 August 2023
## 1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
## 1.1. Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005) and the Charities Act 1993.
## 1.2. Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.
Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.
Income from investments is included in the year in which it is receivable.
## 1.3. Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.
## 1.4. Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
- Land and buildings Straight line over 50 years - Fixtures, fittings and equipment 25% straight line
Page 8
## Beckermet Nursery
## Notes to financial statements for the year ended 31 August 2023
## 1.5. Defined contribution pension schemes
The pension costs charged in the financial statements represent the contribution payable by the charity during the year.
## 2. Voluntary income
|2.
Voluntary income|||
|---|---|---|
|Unrestricted
funds
£
Donations
328
328
3.
Investment income
Unrestricted
funds
£
Bank interest receivable
1,555
1,555
4.
Incoming resources from charitable activities
Unrestricted
funds
£
Nursery income
130,377
Grants
45,851
Commission
69
176,297
5.
Other incoming resources
Unrestricted
funds
£
Transferred from unincorporated charity
254,564
254,564|2023
Total
£
328
328
2023
Total
£
1,555
1,555
2023
Total
£
130,377
45,851
69
176,297
2023
Total
£
254,564
254,564|2022
Total
£
-|
|||-|
|||2022
Total
£
-|
|||-|
|||2022
Total
£
-
-
-|
|||-|
|||2022
Total
£
-|
|||-|
Page 9
## Beckermet Nursery
## Notes to financial statements
## for the year ended 31 August 2023
## 6. Costs of charitable activities - by fund type
|6.|Costs of charitable activities - by fund type||||||||
|---|---|---|---|---|---|---|---|---|
||||Unrestricted|||2023||2022|
|||||funds||Total||Total|
|||||£||£||£|
||Nursery provision|||137,881||137,881||-|
|||||137,881||137,881||-|
|7.|Costs of charitable activities - by activity||||||||
|||Activities|||||||
|||undertaken||Support||2023||2022|
|||directly||costs||Total||Total|
|||£||£||£||£|
||Nursery provision|136,066||1,815||137,881||-|
|||136,066||1,815||137,881||-|
## 8. Analysis of support costs
|Accountancy charges
Other professional fees|Nursery
Provision
£
1,428
387
1,815|2023
Total
£
1,428
387
1,815|2022
Total
£
-
-|
|---|---|---|---|
||||-|
Page 10
## Beckermet Nursery
## Notes to financial statements for the year ended 31 August 2023
## 9. Employees
|Employment costs
Wages and salaries
Social security costs
Pension costs|2023
£
103,907
2,017
1,850
107,774|2022
£
-
-
-|
|---|---|---|
|||-|
No employee received emoluments of more than £60,000 (2022 : None).
## Number of employees
The average monthly numbers of employees (including the trustees) during the year, calculated on the basis of full time equivalents, was as follows:
|2023|2022|
|---|---|
|Number|Number|
|11|-|
Mrs P Gallagher, a trustee, received remuneration of £15,661 under employment contracts in respect of her role as nursery manager. A contribution of £202 was also made to a defined contribution pension scheme.
No trustee received any remuneration in respect of their services as a trustee of the charity.
## 10. Pension costs
The company operates a defined contribution pension scheme. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and was as follows:
|follows:|||
|---|---|---|
||2023|2022|
||£|£|
|Pension charge|1,850|-|
Contributions amounting to £716 were outstanding at the year end are included within other creditors.
Page 11
## Beckermet Nursery
## Notes to financial statements
## for the year ended 31 August 2023
|11.
Tangible fixed assets
Cost
At 1 September 2022
Transfer from unincorporated charity
Additions
At 31 August 2023
Depreciation
At 1 September 2022
Transfer from unincorporated charity
Charge for the year
At 31 August 2023
Net book values
At 31 August 2023
12.
Creditors: amounts falling due
within one year
Other creditors
13.
Analysis of net assets between funds
Fund balances at 31 August 2023 as represented by:
Tangible fixed assets
Current assets
Current liabilities|Land and
Fixtures,
buildings fittings and
freehold
equipment
£
£
-
-
85,235
20,612
-
7,609
85,235
28,221
-
-
8,032
17,985
1,705
3,754
9,737
21,739
75,498
6,482
2023
£
716
Unrestricted
funds
£
81,980
213,599
)
(716
294,863|Total
£
-
105,847
7,609
113,456
-
26,017
5,459
31,476
81,980
2022
£
-
Total
funds
£
81,980
213,599
)
(716
294,863|
|---|---|---|
Page 12
## Beckermet Nursery
## Notes to financial statements for the year ended 31 August 2023
## 14. Unrestricted funds
||||||
|---|---|---|---|---|
|Unrestricted funds|At|||At|
||1 September|Incoming|Outgoing|31 August|
||2022|resources|resources|2023|
||£|£|£|£|
|General funds|-|432,744|)
(137,881|294,863|
## Purposes of unrestricted funds
The chariy's unrestricted funds can be used with the approval of the board of trustees to fund any expenditure which falls within the charity's general aims and objectives.
## 15. Reconciliation of net movement in funds to net cash flow from operating activities
|Net movement in funds
Deduct funds transferred from unincorporated charity
Deduct creditors transferred from unincorporated charity
Deduct interest and dividend income shown in investing activities
Add back depreciation
(Decrease)/increase in creditors
Net cash provided by/(used by) operating activities|2023
£
294,863
254,564
18,862
)
(1,555
5,459
716
26,057|2022
£
-
-
-
-
-
-
-|
|---|---|---|
## Net cash provided by/(used by) operating activities
## 16. Analysis of changes in net funds
|Analysis of changes in net funds||||
|---|---|---|---|
|Cash at bank and in hand
Net funds|Transfer
1 March
2023
£
193,596
193,596|Cash
flows
£
20,003
20,003|Closing
balance
£
213,599|
||||213,599|
Page 13
## Beckermet Nursery
The following pages do not form part of the statutory accounts.
## Beckermet Nursery
## Detailed statement of financial activities
## For the year ended 31 August 2023
|||2023||2022|
|---|---|---|---|---|
||£|£|£|£|
|Incoming resources|||||
|Incoming from generating funds:|||||
|Donations||328||-|
|||328||-|
|Investment income|||||
|Bank interest receivable||1,555||-|
|||1,555||-|
|Total incoming resources from generating funds||1,883||-|
|Incoming resources from charitable activities|||||
|Nursery income||130,377||-|
|Grants||45,851||-|
|Commission||69||-|
|||176,297||-|
|Other incoming resources|||||
|Net assets transferred from unincorporated charity||254,564||-|
|||254,564||-|
|Total incoming resources||432,744||-|
Page 15
## Beckermet Nursery
## Detailed statement of financial activities
## For the year ended 31 August 2023
|Charitable activities
Nursery provision
Activities undertaken directly
Purchases
Wages & salaries
Employer's NIC
Pension costs
Rent
Rates & water
Light & heat
Repairs and maintenance
Telephone
Postage and stationery
Sundries
Depreciation & impairment
Other expenses
Support costs
Accountancy
Other professional fees
Nursery provision total expenditure
Total charitable activity expenditure
Net incoming/(outgoing) resources for the year|2023
£
7,987
103,907
2,017
1,850
50
1,027
1,961
9,821
301
593
1,094
5,459
1
136,066
1,428
387
1,815
137,881
137,881
294,863|2022
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|2022
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|
|---|---|---|---|
||||-|
||||-|
||||-|
Page 16