Charity registration number 1187076
Company registration number CE020100 (England and Wales)
PUDDLEDUCKS ALL DAYCARE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PUDDLEDUCKS ALL DAYCARE
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Accountants' report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 10 |
PUDDLEDUCKS ALL DAYCARE
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Ms Nicola Edwards | |
|---|---|---|
| Ms Emily Roberts | ||
| Ms N Jones | ||
| Ms Victoria Roberts | ||
| Ms Emily Baker | ||
| Mrs Susan Dick | (Appointed 31 August 2023) | |
| Charity number | 1187076 | |
| Company number | CE020100 | |
| Registered office | Trefnant School | |
| Henllan Road | ||
| Trefnant | ||
| Denbigh | ||
| Denbighshire | ||
| United Kingdom | ||
| LL16 5UF | ||
| Accountants | Azets | |
| First Floor | ||
| Unit 55 Ffordd William Morgan | ||
| St Asaph Business Park | ||
| St Asaph | ||
| United Kingdom | ||
| LL17 0JG |
PUDDLEDUCKS ALL DAYCARE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2023
The trustees present their annual report and financial statements for the year ended 31 July 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's deed of trust, the Charities Act 2011 and "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 2019)".
Background Information
Puddleducks All Day Care, Ysgol Trefnant was formed in April 2008 to offer quality, accessible preschool childcare. It expanded in September 2018 to offer wraparound childcare for the children attending Ysgol Trefnant and from the local community. This was in response to demand from Ysgol Trefnant parents who were looking for on-site, wraparound childcare. We became a CIO in November 2020 when we officially changed our name to Puddleducks All Day Care and became a new charity.
Objectives and activities
The aim of Puddleducks All Day Care, Ysgol Trefnant is to provide quality, accessible full day care and out of school childcare, offering a range of play activities in a welcoming atmosphere.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Premises/Facilities Offered
Puddleducks is based at Ysgol Trefnant and has the use of the school hall and play area throughout the school morning. It uses the school house in the afternoon. It also uses the school hall and outdoor areas out of school hours and during the school holidays.
We provide appropriate areas for a range of needs including areas for food preparation/dining, a quiet area, an indoor play area and a large outdoor play space. Toilet and first aid facilities are available as well as storage and administrative spaces.
Achievements and performance
Financial review
Structure, governance and management
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Ms Suzanne Van Loock (Retired 31 August 2023) Ms Nicola Edwards Ms Christine Richards (Resigned 4 December 2023) Ms Emily Roberts Ms N Jones Ms Sarah O'Donnell (Resigned 18 January 2024) Ms Victoria Roberts Ms Stacy Hughes (Resigned 18 January 2024) Ms Emily Baker Mrs Susan Dick (Appointed 31 August 2023)
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PUDDLEDUCKS ALL DAYCARE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
The trustees' report was approved by the Board of Trustees.
Ms Emily Roberts Trustee
Mrs Susan Dick Trustee
29 May 2024
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PUDDLEDUCKS ALL DAYCARE
ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PUDDLEDUCKS ALL DAYCARE FOR THE YEAR ENDED 31 JULY 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Puddleducks All Daycare for the year ended 31 July 2023, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 2 December 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Puddleducks All Daycare and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Puddleducks All Daycare and the charity's trustees as a body, for our work or for this report.
It is your duty to ensure that Puddleducks All Daycare has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Puddleducks All Daycare. You consider that Puddleducks All Daycare is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of Puddleducks All Daycare. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Azets
29 May 2024
First Floor Unit 55 Ffordd William Morgan St Asaph Business Park St Asaph LL17 0JG United Kingdom
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PUDDLEDUCKS ALL DAYCARE
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2023
| Unrestricted Unrestricted | Unrestricted Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| Notes | £ | £ | |
| Income from: | |||
| Charitable activities | 3 | 87,003 | 94,442 |
| Investments | 4 | 28 | 1 |
| Total income | 87,031 | 94,443 | |
| Expenditure on: | |||
| Charitable activities | 5 | 95,151 | 71,293 |
| Net (expenditure)/income for the year/ | |||
| Net movement in funds | (8,120) | 23,150 | |
| Fund balances at 1 August 2022 | 62,269 | 39,119 | |
| Fund balances at 31 July 2023 | 54,149 | 62,269 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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PUDDLEDUCKS ALL DAYCARE
BALANCE SHEET
AS AT 31 JULY 2023
| Notes Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Net current assets Total assets less current liabilities Income funds Unrestricted funds |
2023 £ - 48,672 48,672 |
£ 5,477 48,672 54,149 54,149 54,149 |
2022 £ (1) 60,677 60,676 |
£ 1,593 60,676 |
|---|---|---|---|---|
| 62,269 | ||||
| 62,269 | ||||
| 62,269 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 29 May 2024
| Ms Emily Roberts | Mrs Susan Dick |
|---|---|
| Trustee | Trustee |
| Company registration number CE020100 |
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PUDDLEDUCKS ALL DAYCARE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
1 Accounting policies
Charity information
Puddleducks All Daycare is a private company limited by guarantee incorporated in England and Wales. The registered office is Trefnant School, Henllan Road, Trefnant, Denbigh, Denbighshire, LL16 5UF, United Kingdom.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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PUDDLEDUCKS ALL DAYCARE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
4 years on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. As all financial assets are classified within one year, they are not amortised but carried at face value.
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PUDDLEDUCKS ALL DAYCARE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price. Financial liabilities classified as payable within one year are carried at face value.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and continue to be measured at face value.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Charitable activities
| Parentpay | Charitable | Total | Parentpay | Charitable | Total | |
|---|---|---|---|---|---|---|
| Income | 2023 | Income | 2022 | |||
| 2023 | 2023 | 2022 | 2022 | |||
| £ | £ | £ | £ | £ | £ | |
| Sales within | ||||||
| charitable activities | 23,933 | 63,070 | 87,003 | 23,715 | 70,727 | 94,442 |
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PUDDLEDUCKS ALL DAYCARE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
4 Investments
| **Unrestricted ** | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Interest receivable | 28 | 1 |
| Charitable activities | ||
| Charitable | Charitable |
|
| Expenditure | Expenditure | |
| 2023 | 2022 | |
| £ | £ | |
| Depreciation and impairment | 964 | 495 |
| Staff costs | 82,168 | 58,661 |
| Pension Cost | 3,422 | 2,287 |
| Rent | 4,200 | 3,375 |
| Repair and Renewals | 2,471 | 4,750 |
| Legal and Professional | 912 | 749 |
| Staff Training | 35 | 455 |
| Insurance | 379 | 471 |
| Accountancy | 600 | 50 |
| 95,151 | 71,293 | |
| 95,151 | 71,293 |
5 Charitable activities
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
7 Employees
The average monthly number of employees during the year was:7
| 2023 | 2022 |
|---|---|
| Number | Number |
| 7 | 7 |
There were no employees whose annual remuneration was more than £60,000.
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PUDDLEDUCKS ALL DAYCARE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
8 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
9 Tangible fixed assets
| 9 | Tangible fixed assets | ||
|---|---|---|---|
| Fixtures and fittings | |||
| £ | |||
| Cost | |||
| At 1 August 2022 | 2,239 | ||
| Additions | 4,849 | ||
| At 31 July 2023 | 7,088 | ||
| Depreciation and impairment | |||
| At 1 August 2022 | 647 | ||
| Depreciation charged in the year | 964 | ||
| At 31 July 2023 | 1,611 | ||
| Carrying amount | |||
| At 31 July 2023 | 5,477 | ||
| At 31 July 2022 | 1,593 | ||
| 10 | Debtors | ||
| 2023 | 2022 | ||
| Amounts falling due within one year: | £ | £ | |
| Trade debtors | - | (1) |
11 Related party transactions
There were no disclosable related party transactions during the year (2022 - none).
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