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2023-08-31-accounts

Chiddingstone Nursery School CIO

Chiddingstone Nursery School CIO

Charity No. 1184378

Company No. CE018174

Trustees' Report and Unaudited Accounts

31 August 2023

Chiddingstone Nursery School CIO

Pages
Trustees' Annual Report 3 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Summary Income and Expenditure Account 10
Balance Sheet 11
Statement of Cash flows 12
Notes to the Accounts 13 to 18
Detailed Statement of Financial Activities 19 to 20

2

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 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered charity name Chiddingstone Nursery School CIO Company registration number CE018174 Charity registration number 1184378 Registered Office Chiddingstone Castle Hill Hoath Road Chiddingstone Edenbridge TN8 7AD Directors and Trustees S. Butcher (appointed 9 May 2023) G. Cohen (appointed 9 May 2023) M. Downing (appointed 10 July 2023) S. Fitzgerald O’Connor (appointed 9 May 2023) S. Forsythe Irwin (appointed 9 May 2023) B. Kostadinov T. Planterose (appointed 9 May 2023) L. Sundt (appointed 9 May 2023) F. Watson S. Woodward (appointed 9 May 2023) 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;

(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.

3

Chiddingstone Nursery School CIO

Trustees Annual Report

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

Main Achievements:

ACHIEVEMENTS AND PERFORMANCE

The trustees’ objectives were met as follows:

Staff:

Committee:

Safeguarding:

Parent involvement:

4

Chiddingstone Nursery School CIO

Trustees Annual Report

FINANCIAL REVIEW

For the year ended 31/08/2023 the charity had an income over expenditure surplus of £13,369 (2023) compared to £15,373(2022). The surplus is carried forward to next year to further fund the charity’s objectives.

The Charity’s reserve policy is to hold 12 months’ worth of operating costs as reserve, as at 31/08/2023 the reserve held was £95,134

The following are the principal risks facing the charity:

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 will be looking at feasibility of staying open Friday afternoons to increase income and boost numbers coming on Friday mornings.

We do not see any other major financial issues on the horizon.

5

Chiddingstone Nursery School CIO

Trustees Annual Report

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.

(3) 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.

(4) 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.

(5) 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.

(6) 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 subclauses (2) and (3) of this clause.

(7) 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.

(8) 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.

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.

6

Chiddingstone Nursery School CIO

Trustees Annual Report

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 (FRS102).

Signed on behalf of the board

S. Fitzgerald O’Connor

Sarah Fitzgerald O'Connor (Jun 17, 2024 12:05 GMT+1)

L. Sundt

Laetitia Sundt (Jun 17, 2024 12:07 GMT+1)

Co-chairs of the Management Committee

12/06/2024

7

Chiddingstone Nursery School CIO

Trustees Annual 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 2023 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet 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 (FRS102).

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 12/06/2024

8

Chiddingstone Nursery School CIO

Statement of Financial Activities

for the year ended 31 August 2023

Notes
Income and
endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Other
6
Total
Expenditure on:
Charitable activities
7
Other
8
Total
Net gains on
investments
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
Unrestricted
funds
2023
£
937
107,939
-
750
109,626
4,256
91,751
96,007
-
13,619
-
13,619
13,619
81,469
95,088
Restricted
funds
2023
£
626
-
14,013
-
14,639
-
14,889
14,889
-
-250
-
-250
-250
296
46
Total funds
2023
£
1,563
107,939
14,013
750
124,265
4,256
106,640
110,896
-
13,369
-
13,369
13,369
81,765
95,134
Total funds
2022
£
4,113
104,175
10,802
32
119,122
4,433
99,316
103,749
-
15,373
-
15,373
15,373
66,392
81,765

9

Chiddingstone Nursery School CIO

Summary Income and Expenditure Account

for the year ended 31 August 2023

Income
Gross income for the year
Expenditure
Total expenditure for the year
Net income before tax for the year
Net income for the year
2023
£
124,265
124,265
110,896
110,896
13,369
13,369
2022
£
119,122
119,122
103,749
103,749
15,373
15,373

10

Chiddingstone Nursery School CIO

Balance Sheet

at 31 August 2023

Company No. CE018174
Notes
Current assets
Cash at bank and in hand
Creditors:Amount falling due within one year
10
Net current assets
Total assets less current liabilities
Net assets excluding pension asset or liability
Total net assets
The funds of the charity
Restricted funds
11
Restricted income funds
Unrestricted funds
11
General funds
Reserves
11
Total funds
2023
£
106,842
106,842
(11,708)
95,134
95,134
95,134
95,134
46
46
95,088
95,088
95,134
2022
£
92,228
92,228
(10,463)
81,765
81,765
81,765
81,765
296
296
81,469
81,469
81,765

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 2023 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 11/06/2024

And signed on its behalf by:

S. Fitzgerald O’Connor

Sarah Fitzgerald O'Connor (Jun 17, 2024 12:05 GMT+1)

L. Sundt

Laetitia Sundt (Jun 17, 2024 12:07 GMT+1)

Co-chairs of the Management Committee

12/06/2024

11

Chiddingstone Nursery School CIO

Statement of Cash flows

for the year ended 31 August 2023

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
2023
£
13,369
(750)
1,245
13,864
750
750
-
14,614
92,228
106,842
106,842
106,842
2022
£
15,373
(32)
(7,722)
7,619
32
32
-
7,651
84,577
92,228
92,228
92,228

12

Chiddingstone Nursery School CIO

Notes to the Accounts

for the year ended 31 August 2023

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 (FRS102) (effective 1 January 2015) - (Charities SORP(FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) 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
Income charity becomes entitled to, and virtually certain to receive, the income and
the amount of the income can be measured with sufficient reliability.
Income with Where income has related expenditure the income and related expenditure
related is reported gross in the SoFA.
expenditure
Donations and Voluntary income received by way of grants, donations and gifts is included
legacies in the 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
and facilities expenditure) where the benefit to the Charity is reasonably quantifiable,
measurable and material.

13

Chiddingstone Nursery School CIO

Notes to the Accounts

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 revaluation of fixed market value at the end of the year. assets Gains/ (losses) on This includes any gain or loss on the sale of investments. investment assets Expenditure Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any expenditure VAT which 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, raising funds fundraising trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its charitable activities activities and 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.

14

Chiddingstone Nursery School CIO

Notes to the Accounts

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.

2. Company status

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

3. Income from donations and legacies

Donations
Funds from/ to PTA
Grants
Unrestricted
£
-
-
937
937
Restricted
£
626
-
-
626
Total 2023
£
626
-
937
1,563
Total 2022
£
34
1,292
2,787
4,113

4. Income from charitable activities

Fee Income
KCC Funded Places
Admin Fee/Deposit
Other
Unrestricted
£
65,077
41,582
720
560
107,939
Total 2023
£
65,077
41,582
840
560
107,939
Total 2022
£
53,544
48,080
840
1,711
104,176

15

Chiddingstone Nursery School CIO

Notes to the Accounts

5. Income from other trading activities

FF2 Payments
SENIF Payments
EYPP Payments
DAF
6. Other income
Interest Received
7. Expenditure on charitable activities
Expenditure on charitable activities
Fee Income
KCC Funded Places
Admin Fee/Deposit
8. Other expenditure
Unrestricted
£
Employee costs
69,221
Premises costs
11,622
General administrative costs
9,074
Legal and professional costs
1,834
91,751
Restricted
£
-
5,830
8,183
-
14,013
Unrestricted
£
750
750
Unrestricted
£
2,319
1,257
680
4,256
Restricted
£
14,889
-
-
-
14,889
Total 2023
£
-
5,830
8,183
-
14,013
Total 2023
£
750
750
Total 2023
£
2,319
1,257
680
4,256
Total 2023
£
84,110
11,622
9,074
1,834
106,640
Total 2022
£
4,018
4,665
1,504
615
10,802
Total 2022
£
32
32
Total 2022
£
1,033
1,532
1,868
4,433
Total 2022
£
78,720
13,769
4,927
1,900
99,316

16

Chiddingstone Nursery School CIO

Notes to the Accounts

9. Staff costs

Salaries and wages
Social security costs
Pension costs
2023
£
81,649
-
935
82,584
2022
£
69,143
6,159
1,303
76,605

No employee received emoluments in excess of £60,000.

10. Creditors:

amounts falling due within one year

Deferred income
Pension payable
PAYE payable
2023
£
10,635
253
820
11,708
2022
£
10,463
-
-
10,463

11. Movement in funds

Restricted funds:
Restricted income funds:
FF2 Payments
Donations
Total
Unrestricted funds:
General funds
Total funds
At 1
September
2022
Incoming
resources
(including
other gains/
losses)
Resources
expended
At 31 August
2023
£
£
£
£
-
14,013
(14,013)
-
296
626
(876)
46
296
14,639
(14,889)
46
81,469
109,626
(96,007)
95,088
81,765
124,265
(110,896)
95,134

Purposes and restrictions in relation to the funds: Restricted funds:

FF2 Payments

17

Chiddingstone Nursery School CIO

Notes to the Accounts

Donations

12. Analysis of net assets between funds

Net current assets
13. Reconciliation of net debt
At 1 September
2022
£
Cash and cash equivalents
92,228
92,228
Net debt
92,228
14. Commitments
Pension commitments
The pension cost charge to the company amounted to:
15. Related party disclosures
Unrestricted
funds
£
95,134
95,134
Cash flows
£
14,614
14,614
14,614
2023
£
935
Total
£
95,134
95,134
At 31 August
2023
£
106,842
106,842
106,842
2022
£
1,303

Controlling party

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

18

Chiddingstone Nursery School CIO

Detailed Statement of Financial Activities

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
Unrestricted
funds
2023
£
-
-
937
937
65,077
41,582
720
560
107,939
-
-
-
-
-
750
750
109,626
2,319
1,257
680
4,256
4,256
66,760
-
935
1,526
69,221
Restricted
funds
2023
£
626
-
-
626
-
-
-
-
-
-
5,830
8,183
-
14,013
-
-
14,639
-
-
-
-
-
14,889
-
-
-
14,889
Total funds
2023
£
626
-
937
1,563
65,077
41,582
720
560
107,939
-
5,830
8,183
-
14,013
750
750
124,265
2,319
1,257
680
4,256
4,256
81,649
-
935
1,526
84,110
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

19

Chiddingstone Nursery School CIO

Detailed Statement of Financial Activities

Premises costs
Rent
9,000
Rates
-
Premises cleaning
704
Premises repairs and
maintenance
1,918
11,622
General administrative costs, including
depreciation and amortisation
Equipment expensed
228
General insurances
569
Information and
publications
1,163
Software, IT support and
related costs
558
Stationery and printing
3,348
Sundry expenses
1,359
Telephone, fax and
broadband
1,848
9,074
Legal and professional costs
Accountancy and
bookkeeping
1,309
Other legal and
professional costs
525
1,834
Total of expenditure of
other costs
91,751
Total expenditure
96,007
Net gains on investments
-
13,619
Net income
Transfers between funds
-
Net income before other
gains/ (losses)
13,619
Other Gains
-
Net movement in funds
13,619
Reconciliation of funds:
Total funds brought
forward
81,469
Total funds carried
forward
95,088
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
14,889
14,889
-
-250
-
-250
-
-250
296
46
9,000
-
704
1,682
11,622
228
569
1,163
558
3,348
1,359
1,848
9,074
1,309
525
1,834
106,640
110,896
-
13,369
-
13,369
-
13,369
81,765
95,134
9,000
261
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

20