2022-08-31-accounts - Chiddingstone Nursery School Charitable Incorporated Organisation

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Chiddingstone Nursery School CIO

Charity No. 1184378

Company No. CE018174

Trustees' Report and Unaudited Accounts

31 August 2022

Chiddingstone Nursery School CIO Contents

	Pages
Trustees' Annual Report	2 to 5
Independent Examiner's Report	6
Statement of Financial Activities	7
Summary Income and Expenditure Account	8
Balance Sheet	9
Statement of Cash flows	10
Notes to the Accounts	11 to 18
Detailed Statement of Financial Activities	19 to 20

Page 1

Chiddingstone Nursery School CIO Trustees Annual Report

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 August 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. CE018174

Charity No. 1184378

Registered Office

Chiddingstone Castle Hill Hoath Road Chiddingstone Edenbridge TN8 7AD

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

W. Madgwick M. Maxwell-Payne J. McCoy V. Nobel F. Streatfeild (appointed 17 May 2022)

Independent examiner

Solutions Accountancy & Bookkeeping Ltd 1 The Mews

Little Brunswick Street Huddersfield HD1 5JL

OBJECTIVES AND ACTIVITIES

The charity works for the public benefit having as its objects the development and education of children and young people.

(1) promoting their care and safety;
(2) promoting their education and promoting parental involvement;
(3) promoting their health and wellbeing;
(4) providing services to support them and their families and carers;
(5) providing services to individuals holding membership of the CIO; and
(6) furthering the aims of the Pre-school Learning Alliance.

The trustees of Chiddingstone Nursery CIO are aware of the guidance on public benefit. We have taken it into account when making a decisions to which the guidance is relevant.

Page 2

Chiddingstone Nursery School CIO Trustees Annual Report

Main Achievements:

The successful implementation of the new EYFS and planning in the moment for the benefit of the children attending the nursery.

The support of post-covid children’s experience of separating from their parents was handled effectively and with great care.

The nursery continues to offer funded places through Kent County Council, thus making it accessible to all families.

ACHIEVEMENTS AND PERFORMANCE

The trustees’ objectives were met as follows:

Premises:

• A deep clean of the premises took place and a thorough rationalisation of toys and equipment.

Staffing:

All staff enrolled on or completed relevant training.
Two members of staff completed the next level on their Early Years training.
All appraisals were completed with nursery manager.
Staff pay was increased across the board.
Nursery Administrator role was reviewed, developed and increased in order to support the Nursery Leader and the Trustees even further and to allow practitioners to focus on supporting the children rather than filling in paperwork.

Safeguarding:

All new guidelines adhered to
All policies up to date
Relevant training completed

Parent involvement:

Clear updates were given to all parents.
Parents participated in the AGM and were sent the Trustees’ annual plan.
A parent questionnaire was created and issued. The feedback was overwhelmingly positive. Constructive feedback was listened to and implemented where possible.
Fees were increased on order to keep track with the cost of staffing and the relative lack of funding.
The number of totally free spaces for over 3-year-olds was reviewed in line with financial projections for 2022 to ensure we were meeting the provider agreement, and to ensure the nursery is accessible to all.

FINANCIAL REVIEW

For the year ended 31/08/2022 the charity had an income over expenditure surplus of £15,373(2022) compared to £13,393.00(2021), the surplus is carried forward to next year to further fund the charities objectives.

The Charity’s reserve policy is to hold 12 months’ worth of operating costs as reserve, as at 31/08/2022 the reserve held was £81,765.00.

Page 3

Chiddingstone Nursery School CIO Trustees Annual Report

The following are the principal risks facing the charity:

· Competition from local nurseries offering longer hours

· Underfunding from central government. The funding we receive does not cover the staffing costs of providing the contracted hours of education

The rent of the premises is due to rise after a long period remaining flat

The principal source of funds comes Kent County Council and this was 50% of annual income in the period ended 31/08/2022.

PLANS FOR FUTURE PERIODS

Our main concern for the near future is the rising cost of living for parents and staff alike. Kent County Council funding does not currently match the cost of staffing and it is unlikely to increase sufficiently. We are a charity committed to providing outstanding childcare to all, irrespective of their financial situation. This means we need to rely on our prudent financial planning to avoid passing rising costs on to parents where possible, whilst ensuring staff pay increases to support them during the cost of living crisis. Our rent has remained static for many years now, and any change in this over the coming year will affect our ability to keep childcare costs as low as possible for parents. We do not see any other major financial issues on the horizon.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is a CIO, registered with the Charity Commission, with a board of trustees with a wide variety of experience. The Charity adopted and follows the Model CIO Constitution for Childcare Providers 2013.

The Charity upholds the following trustee selection method and policies:

(1) There must be at least three charity trustees. If the number falls below this minimum, the remaining trustee or trustees may act only to call a meeting of the charity trustees, or to appoint a new charity trustee. (2) The maximum number of charity trustees is 12. The charity trustees may not appoint any charity trustee if, as a result, the number of charity trustees would exceed the maximum.

The charity trustees are appointed at the AGM of the charity to serve for two successive years and shall retire from office with effect from the conclusion of the second AGM following their appointment.

(2) At every AGM of the members of the CIO, one third (or the number nearest to one third) of the elected charity trustees shall retire from office.

(3) The charity trustees to retire by rotation shall be those who have been longest in office since their last appointment or reappointment. If any charity trustees were last appointed or reappointed on the same day, those to retire shall (unless otherwise agreed amongst themselves) be determined by lot.

(4) The vacancies so arising may be filled by the decision of the members at the AGM; any vacancies not filled at the AGM may be filled as provided in sub-clause (5) of this clause.

(5) The members or the charity trustees may at any time decide to appoint a new charity trustee, whether in place of a charity trustee who has retired or been removed in accordance with clause 15 (Retirement and removal of charity trustees), or as an additional charity trustee, provided that the limit specified in sub-clause 12(3) (Number of charity trustees) would not as a result be exceeded. A person so appointed, shall serve for two successive years and shall retire in accordance with sub-clauses (2) and (3) of this clause.

(6) Where an individual is appointed as a charity trustee, it is that individual who is the charity trustee. No other individual with whom they share membership shall be entitled to stand in their place at meetings of the charity trustees or have any other rights as a charity trustee.

(7) To encourage parental involvement, at least two thirds of the charity trustees shall normally at the time of election be family members. In the event that this figure cannot be achieved however, the CIO may elect affiliate members to make up the balance of the charity trustees.

Page 4

Chiddingstone Nursery School CIO Trustees Annual Report

The charity trustees will make available to each new charity trustee, on or before his or her first appointment:

(1) a copy of this constitution and any amendments made to it;
(2) a copy of the CIO’s latest trustees’ annual report and statement of accounts; and
(3) a copy of the roles and responsibilities of trustees as produced by the Charity Commission.

Trustees are also encouraged to attend training provided by The Education People

The charity is run by Trustees and a wider committee that represent the parents involved in the nursery.

The day-to-day management of the nursery is carried out by the Nursery Leader and qualified nursery staff. Chiddingstone Nursery PTA carries out fundraising for equipment and resources.

The Trustees are responsible for keeping proper accounting records that 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 Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

F. Streatfeild

F. Streatfeild (Jun 29, 2023 20:21 GMT+1)

F. Streatfeild

Trustee

23 June 2023

Page 5

Chiddingstone Nursery School CIO Independent Examiners Report

Independent Examiner's Report to the trustees of Chiddingstone Nursery School CIO

I report to the charity trustees on my examination of the financial statements of Chiddingstone Nursery School CIO for the year ended 31 August 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 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.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

accounting records were not kept in accordance with section 386 of the 2006 Act ; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the Charities SORP (FRS 102).

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.

CPAA Solutions Accountancy & Bookkeeping Ltd 1 The Mews Little Brunswick Street Huddersfield

HD1 5JL 23 June 2023

Page 6

Chiddingstone Nursery School CIO Statement of Financial Activities

for the year ended 31 August 2022

Unrestricted funds 2022 £ 2,787 104,175 - 32	Restricted funds 2022 £ 1,326 - 10,802 -	Total funds 2022 £ 4,113 104,175 10,802 32	Total funds 2021 £ 5,068 90,086 5,069 9
106,994 4,433 85,390	12,128 - 13,926	119,122 4,433 99,316	100,232 6,124 80,169
89,823 -	13,926 -	103,749 -	86,293 -
17,171 -	(1,798) -	15,373 -	13,939 -
17,171	(1,798)	15,373	13,939
17,171 64,298	(1,798) 2,094	15,373 66,392	13,939 51,853
81,469	296	81,765	65,792

Page 7

Chiddingstone Nursery School CIO Summary Income and Expenditure Account

for the year ended 31 August 2022

Income Gross income for the year Expenditure Total expenditure for the year Net income before tax for the year Net income for the year	2022 £ 119,122 119,122 103,749 103,749 15,373 15,373	2021 £ 100,232
		100,232
		86,293
		86,293
		13,939
		13,939

Page 8

Chiddingstone Nursery School CIO Balance Sheet

at 31 August 2022

Company No. CE018174 Notes 2022 £ Current assets Cash at bank and in hand 92,228 92,228 Creditors:Amount falling due within one year 12 (10,463) Net current assets 81,765 Total assets less current liabilities 81,765 Net assets excluding pension asset or liability 81,765 Total net assets 81,765 The funds of the charity Restricted funds 13 Restricted income funds 296 296 Unrestricted funds 13 General funds 81,469 81,469 Reserves 13 Total funds 81,765	2021 £ 84,577
	84,577 (18,185)
	66,392 66,392
	66,392
	66,392
	2,094
	2,094 64,298
	64,298
	66,392

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 August 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 23 June 2023

And signed on its behalf by:

F. Streatfeild

F. Streatfeild (Jun 29, 2023 20:21 GMT+1)

F. Streatfeild

Trustee

23 June 2023

Page 9

Chiddingstone Nursery School CIO Statement of Cash flows for the year ended 31 August 2022

Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments (Decrease)/Increase in trade and other payables Net cash provided by operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances	2022 £ 15,373 (32) (7,722) 7,619 32 32 - 7,651 84,577 92,228 92,228 92,228	2021 £ 14,539 (9) 18,185
		32,715 9
		9

		-

		32,724
		51,853
		84,577

		84,577

		84,577

Page 10

Chiddingstone Nursery School CIO Notes to the Accounts

for the year ended 31 August 2022

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 11

Chiddingstone Nursery School CIO Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 12

Chiddingstone Nursery School CIO Notes to the Accounts

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

3 Statement of Financial Activities - prior year

Income and endowments from: Donations and legacies Charitable activities Other trading activities Other Total Expenditure on: Charitable activities Other Total Net income Transfers between funds Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies Donations Funds from/to PTA Grants	Unrestricted £ - - 2,787 2,787	Unrestricted funds 2021 £ - 90,086 - 9 90,095 6,124 72,126 78,250 11,845 600 12,445 12,445 51,853 64,298 Restricted £ 34 1,292 - 1,326	Restricted funds 2021 £ 5,068 - 5,069 - 10,137 - 8,043 8,043 2,094 - 2,094 2,094 - 2,094 Total 2022 £ 34 1,292 2,787 4,113	Total funds 2021 £ 5,068 90,086 5,069 9
				100,232 6,124 80,169
				86,293
				13,939 600
				14,539
				14,539 51,853
				66,392
				Total 2021 £ 4,997 71 -
				5,068

Page 13

Chiddingstone Nursery School CIO Notes to the Accounts

5 Income from charitable activities

Unrestricted £ 53,544 48,080 840 1,711 104,175 Restricted £ 4,018 4,665 1,504 615 10,802 Unrestricted £ 32 32	Total 2022 £ 53,544 48,080 840 1,711 104,175 Total 2022 £ 4,018 4,665 1,504 615 10,802 Total 2022 £ 32 32	Total 2021 £ 43,160 43,002 1,040 2,884
		90,086
		Total 2021 £ 2,673 2,293 103 -
		5,069
		Total 2021 £ 9
		9

Unrestricted £ 1,033 1,532 1,868 4,433	Total 2022 £ 1,033 1,532 1,868 4,433	Total 2021 £ 1,522 2,592 2,010
		6,124

Page 14

Chiddingstone Nursery School CIO Notes to the Accounts

9 Other expenditure

Unrestricted £ Employee costs 64,794 Premises costs 13,769 General administrative costs 4,927 Legal and professional costs 1,900 85,390 10 Net income before transfers This is stated after charging: Independent Examiner's fee 11 Staff costs Salaries and wages Social security costs Pension costs No employee received emoluments in excess of £60,000. 12 Creditors: amounts falling due within one year Deferred income	Restricted £ 13,926 - - - 13,926 2022 £ 540 2022 69,143 6,159 1,303 76,605 2022 £ 10,463 10,463	Total 2022 £ 78,720 13,769 4,927 1,900 99,316	Total 2021 £ 62,596 12,599 3,742 1,232
			80,169
			2021 £ 540 2021 56,891 3,717 721
			61,329
			2021 £ 18,185
			18,185

Page 15

Chiddingstone Nursery School CIO Notes to the Accounts

13 Movement in funds

13 Movement in funds
At 1 September 2021 Restricted funds: Restricted income funds: FF2 Payments 2,094 Donations - - Total 2,094 Unrestricted funds: General funds 64,298 Total funds 66,392 Purposes and restrictions in relation to the funds: Restricted funds: FF2 Payments Donations 14 Analysis of net assets between funds Net current assets 15 Reconciliation of net debt Cash and cash equivalents Net debt	Incoming resources (including other gains/losses) £ - 1,326 10,802 12,128 106,994 119,122	Resources expended £ - - (13,926) (13,926) (89,823) (103,749)	At 31 August 2022 £ 2,094 1,326 (3,124)
			296
			81,469
			81,765




	At 1 September 2021 £	Unrestricted funds £ 81,765 81,765 Cash flows £	Total £ 81,765
			81,765
			At 31 August 2022 £
	84,577	7,651	92,228
	84,577 84,577	7,651 7,651	92,228
			92,228

Page 16

Chiddingstone Nursery School CIO Notes to the Accounts

16 Commitments

Operating lease commitments

Annual commitments under non-cancellable operating leases are as follows:

	2022	2022	2021	2021
	Land and buildings	Other	Land and buildings	Other
	£	£	£	£
Operating leases with expiry date:
*Pension commitments*
		2022		2021
		£		£
The pension cost charge to the company
amounted to:		1,303		721

17 Related party disclosures Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 17

Chiddingstone Nursery School CIO Detailed Statement of Financial Activities

for the year ended 31 August 2022

Income and endowments from: Donations and legacies Donations Funds from/to PTA Grants Charitable activities Fee Income KCC Funded Places Admin Fee/Deposit Other Other trading activities FF2 Payments SENIF Payments EYPP Payments DAF Other Interest Received Total income and endowments Expenditure on: Charitable activities Fee Income KCC Funded Places Admin Fee/Deposit Total of expenditure on charitable activities Employee costs Salaries/wages Employer's NIC Pension costs Staff training Premises costs Rent Rates	Unrestricted funds 2022 £ - - 2,787 2,787 53,544 48,080 840 1,711 104,175 - - - - - 32 32 106,994 1,033 1,532 1,868 4,433 4,433 55,217 6,159 1,303 2,115 64,794 9,000 261	Restricted funds 2022 £ 34 1,292 - 1,326 - - - - - 4,018 4,665 1,504 615 10,802 - - 12,128 - - - - - 13,926 - - - 13,926 - -	Total funds 2022 £ 34 1,292 2,787 4,113 53,544 48,080 840 1,711 104,175 4,018 4,665 1,504 615 10,802 32 32 119,122 1,033 1,532 1,868 4,433 4,433 69,143 6,159 1,303 2,115 78,720 9,000 261	Total funds 2021 £ 4,997 71 -
				5,068
				43,160 43,002 1,040 2,884
				90,086
				2,673 2,293 103 -
				5,069
				9
				9
				100,232 1,522 2,592 2,010
				6,124
				6,124 56,891 3,717 721 1,267
				62,596
				9,000 258

Page 18

Chiddingstone Nursery School CIO Detailed Statement of Financial Activities

Premises cleaning Premises repairs and maintenance General administrative costs, including depreciation and amortisation Equipment expensed General insurances Information and publications Software, IT support and related costs Stationery and printing Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net income Transfers between funds Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	3,466 1,042 13,769 186 553 286 777 1,635 721 769 4,927 1,282 618 1,900 85,390 89,823 - 17,171 - 17,171 - 17,171 64,298 81,469	- - - - - - - - - - - - - - 13,926 13,926 - (1,798) - (1,798) - (1,798) 2,094 296	3,466 1,042 13,769 186 553 286 777 1,635 721 769 4,927 1,282 618 1,900 99,316 103,749 - 15,373 - 15,373 - 15,373 66,392 81,765	2,928 413
				12,599
				147 642 105 1,479 272 170 927
				3,742
				817 415
				1,232

				80,169
				86,293 -
				13,939 600
				14,539 -
				14,539
				51,853
				66,392

Page 19