## **SELLY OAK NURSERY SCHOOL LAND AND BUILDINGS CIO**
## **ANNUAL ACCOUNTS**
**FOR THE YEAR ENDED 31 MARCH 2024**
**(Registered Charity Number 1192555)**
**SELLY OAK NURSERY SCHOOL LAND AND BUILDINGS CIO**
## **ANNUAL ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024**
## **CONTENTS**
**PAGE 3 Legal and Administrative Details PAGE 4-5 Statement of Trustees’ Responsibilities PAGE 6 Statement of Financial Activities PAGE 7 Balance Sheet PAGE 8 Notes to the accounts**
Page **2** of **9**
**SELLY OAK NURSERY SCHOOL LAND AND BUILDINGS CIO**
## **ANNUAL ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024**
## **LEGAL AND ADMINISTRATIVE DETAILS**
## **1. CONSTITUTION AND MANAGEMENT**
The Board of Trustees for the Charity consists of no more than 8 voting members. Members
of the Board during the period were as follows:
Tom Buxton – Chair
Stewart Harris David Trujillo Husham Khan Tom Howell-Jones Jonathan Malina Richard Mason Asma Munir (elected 23[rd] Jan 2024)
Non-voting member is the Head Teacher:
Yvonne James
## **2. OBJECTS**
The Object of the Charity is to advance education for the public benefit of pupils at Selly Oak Nursery School by safeguarding and enhancing the educational environment of the school land and buildings.
## **3. ADDRESS FOR CORRESPONDENCE**
Selly Oak Nursery School, 26 Tiverton Road, Selly Oak, Birmingham B29 6BP
## **4. CHARITY**
The Board of Trustees is registered with the Charity Commission under registration number 1192555.
Page **3** of **9**
## **SELLY OAK NURSERY SCHOOL LAND AND BUILDINGS CIO**
## **ANNUAL ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024**
## **TRUSTEES REPORT**
## **Review of activities**
The Charity is a CIO Foundation Trust and was registered on 27 November 2020. The CIO was set up to replace an unincorporated Charity by the same name under Charity Commission Registration Number 528912. It has been a dormant CIO until 5[th] December 2023 when the property and assets of the old charity were merged and transferred into the CIO. Opening accounts for the CIO have been produced separately and submitted to the Charity Commission as part of the 2023-24 Annual Return. The old charity will now be closed down.
The Charity holds freehold land and buildings at 26 Tiverton Road, Selly Oak, Birmingham B29 6BP for the benefit of Selly Oak Nursery School. The buildings consist of a nursery school and adjacent house previously used as a caretaker’s accommodation.
The school is operated by Birmingham City Council who took over the undertaking and net assets, with the exception of the freehold land and buildings, from the Charity, on 1 January 2012. The lease has expired but continues under its terms and we are negotiating with the Council to agree a new lease on commercial terms but progress has been very slow due to lack of engagement from the Council and a reluctance to pay a fair rent for the premises.
## **Financial Report**
The Charity receives £9,000 rent per year from Birmingham City Council under the terms of the lease. Birmingham City Council does not pay rent regularly and as a result arrears build up. As of the date of these accounts, BCC owe £9,000. Aside from rental income received, the charity also receives fundraising income and other income as required through the delivery of its activities.
The Charity incurs expenditure on the caretaker house, school repairs and maintenance costs, administration and professional fees and costs associated with plans to upgrade and improve the building and facilities so they are fit for the future.
## **Reserves**
At 31 March 2024, the Charity held the following reserves:
The school buildings at a valuation of £120,000.
Other unrestricted reserves amounting to £84,470.
Trustees seek to establish a level of reserves required to carry out routine, cyclical and major repairs where these might be the responsibility of the Trustees and the Charity.
Page **4** of **9**
## **Public benefit**
The Trustees are satisfied that the Charity’s activities meet the requirement of section 17 of the Charities Act 2011 to be for the public benefit and the Trustees have had due regard to public benefit guidance by the Charities Commission.
## **Risk**
The principal risk to the Charity is to provide a safe environment for all who attend the nursery school premises. In this respect, the Trustees will follow the local authority guidance for Child Protection, Health and Safety and Risk Management.
Page **5** of **9**
## **SELLY OAK NURSERY SCHOOL LAND AND BUILDINGS CIO**
## **ANNUAL ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024**
## **TRUSTEES REPORT (continued)**
## **Statement of Trustees’ Responsibilities**
The Charities Act 2011 requires the Trustees to prepare financial statements for each financial year which comply with regulations under the Act.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the Charity. 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.
The Law also sets out the Trustees’ responsibilities for the preparation and content of the Trustees’ Annual Report.
Chair of Trustees:
Date: 28 January 2025
Page **6** of **9**
## **SELLY OAK NURSERY SCHOOL LAND AND BUILDINGS CIO**
## **ANNUAL ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **31 MARCH 2024**
|**Notes**
**INCOMING RESOURCES**
Incoming Resources from generated funds:
Income from Lease of the Buildings
and Land to Birmingham City Council
Bank Interest
Fundraising Grant Income
**1**
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
Admin and Professional Fees
Caretakers House
School repairs and maintenance
Building Plans / Project
**TOTAL RESOURCES EXPENDED**
**NET INCOMING RESOURCES**
**Surplus on valuation of school buildings**
**NET INCOMING RESOURCES**
FUNDS attributable to the Charity at start of period|**Total**
**Opening Total**
**2023-24**
**5th Dec 2023**
**£**
**£**
93
93
3,000
3,000
_____
**3,093**
**3,093**
**_____**
5,180
3,818
1,895
465
16,966 24,284
53,565 15,812
_____
**77,605 44,379**
**_____**
**(74,512) (41,286)**
_____
**120,000 120,000**
**(74,512)** **(41,286)**
**134,361** **134,361**
_____
**179,849** **213,075**
_____|
|---|---|
Page **7** of **9**
**SELLY OAK NURSERY SCHOOL LAND AND BUILDINGS CIO**
## **ANNUAL ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024**
|**BALANCE SHEET**||||
|---|---|---|---|
|**31 MARCH 2024**||||
|**Notes**||**Total**|**Opening Total**|
|||**2023-24**|**5th December 2023**|
|||**£**|**£**|
|**FIXED ASSETS**||||
|Tangible Fixed||||
|Assets|2|**120,000**|**120,000**|
|**CURRENT**||||
|**ASSETS**||||
|Cash at Bank||**75,470**|**111,721**|
|**DEBTORS**||||
|Rent due from BCC|3|**9,000**|**6,750**|
|**CREDITORS**||||
|Amounts falling|||**(40,511)**|
|Due within 1 year||||
|||_______|_______|
|**NET CURRENT LIABILITIES**||**204,470**|**210,190**|
|||_______|_______|
|**FUNDS**||||
|Unrestricted||**84,470**|**90,190**|
|Restricted||**120,000**|**120,000**|
|||_______|_______|
|**TOTAL FUNDS**||**204,470**|**210,190**|
|||_______|_______|
The accounts were approved by the Trustees on 28 January 2025 And signed on their behalf by
Tom Buxton, Chair of Trustees Date: 28 January 2025
Page **8** of **9**
**SELLY OAK NURSERY SCHOOL LAND AND BUILDINGS CIO**
## **ANNUAL ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024**
## **NOTES TO THE ACCOUNTS**
1. FUNDRAISING GRANT INCOME
This is grant income raised from charitable trusts towards the school improvement project.
## 2. TANGIBLE FIXED ASSETS
For the purposes of calculating rent payable by Birmingham City Council, a valuation report was carried out by Gerald Eve LLP Chartered Surveyors.
The valuation did not include the house, which still remains under the management of the Charity Trustees, although there are now plans to sell the asset to raise funds for the school improvement project. A new valuation of the school will be undertaken in 2025/26 financial year.
## 3. DEBTORS
The total amount of rent arrears currently owed by Birmingham City Council is £9,000.
Page **9** of **9**
## **SELLY OAK NURSERY SCHOOL LAND AND BUILDINGS CIO**
## **OPENING ACCOUNTS**
**5 DECEMBER 2023**
**(Registered Charity Number 1192555)**
**SELLY OAK NURSERY SCHOOL LAND AND BUILDINGS**
## **OPENING ACCOUNTS 5 DECEMBER 2023**
|**CONTENTS**||
|---|---|
|**PAGE 3**|**Legal and Administrative Details**|
|**PAGE 4-5**|**Statement of Trustees’ Responsibilities**|
|**PAGE 6**|**Statement of Financial Activities**|
|**PAGE 7**|**Balance Sheet**|
|**PAGE 8**|**Notes to the accounts**|
Page **2** of **9**
**SELLY OAK NURSERY SCHOOL LAND AND BUILDINGS**
## **OPENING ACCOUNTS 5 DECEMBER 2023**
## **LEGAL AND ADMINISTRATIVE DETAILS**
## **1. CONSTITUTION AND MANAGEMENT**
The Board of Trustees for the Charity consists of no more than 8 voting members. Members
of the Board during the period were as follows:
Tom Buxton – Chair
Stewart Harris David Trujillo Husham Khan Tom Howell-Jones Jonathan Malina Richard Mason Non-voting member is the Head Teacher:
Yvonne James
## **2. OBJECTS**
The Object of the Charity is to advance education for the public benefit of pupils at Selly Oak Nursery School by safeguarding and enhancing the educational environment of the school land and buildings.
## **3. ADDRESS FOR CORRESPONDENCE**
Selly Oak Nursery School, 26 Tiverton Road, Selly Oak, Birmingham B29 6BP
## **4. CHARITY**
The Board of Trustees is registered with the Charity Commission under registration number 1192555.
Page **3** of **9**
## **SELLY OAK NURSERY SCHOOL LAND AND BUILDINGS**
## **OPENING ACCOUNTS 5 DECEMBER 2023**
## **TRUSTEES REPORT**
## **Review of activities**
The Charity is a CIO Foundation Trust and was registered on 27 November 2020. The CIO was set up to replace an unincorporated Charity by the same name under Charity Commission Registration Number 528912. It has been a dormant CIO until 5[th] December 2023 when the property and assets of the old charity were merged and transferred into the CIO. These opening accounts are the result of that merger and the old charity will now be closed down.
The Charity holds freehold land and buildings at 26 Tiverton Road, Selly Oak, Birmingham B29 6BP for the benefit of Selly Oak Nursery School. The buildings consist of a nursery school and adjacent house previously used as a caretaker’s accommodation.
The school is operated by Birmingham City Council who took over the undertaking and net assets, with the exception of the freehold land and buildings, from the Charity, on 1 January 2012. The lease has expired but continues under its terms and we are negotiating with the Council to agree a new lease on commercial terms but progress has been very slow due to lack of engagement from the Council and a reluctance to pay a fair rent for the premises.
## **Financial Report**
The Charity receives £9,000 rent per year from Birmingham City Council under the terms of the lease. Birmingham City Council does not pay rent regularly and as a result arrears build up. As of the date of these accounts, BCC owe £6,750. Aside from rental income received, the charity also receives fundraising income and other income as required through the delivery of its activities. In recent years this has included both Council tax refunds and also a civil claim for damages from an adjoining landowner.
The Charity incurs expenditure on the caretaker house, school repairs and maintenance costs, administration and professional fees and costs associated with plans to upgrade and improve the building and facilities so they are fit for the future.
## **Reserves**
At 4[th] December 2023, the Charity held the following reserves:
The school buildings at a valuation of £120,000.
Other unrestricted reserves amounting to £90,190.
Trustees seek to establish a level of reserves required to carry out routine, cyclical and major repairs where these might be the responsibility of the Trustees and the Charity.
Page **4** of **9**
## **Public benefit**
The Trustees are satisfied that the Charity’s activities meet the requirement of section 17 of the Charities Act 2011 to be for the public benefit and the Trustees have had due regard to public benefit guidance by the Charities Commission.
## **Risk**
The principal risk to the Charity is to provide a safe environment for all who attend the nursery school premises. In this respect, the Trustees will follow the local authority guidance for Child Protection, Health and Safety and Risk Management.
Page **5** of **9**
## **SELLY OAK NURSERY SCHOOL LAND AND BUILDINGS**
## **OPENING ACCOUNTS 5 DECEMBER 2023**
## **TRUSTEES REPORT (continued)**
## **Statement of Trustees’ Responsibilities**
The Charities Act 2011 requires the Trustees to prepare financial statements for each financial year which comply with regulations under the Act.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the Charity. 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.
The Law also sets out the Trustees’ responsibilities for the preparation and content of the Trustees’ Annual Report.
Chair of Trustees:
Date: 31[st] January 2024
Page **6** of **9**
## **SELLY OAK NURSERY SCHOOL LAND AND BUILDINGS**
## **OPENING ACCOUNTS 5 DECEMBER 2023**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **5 DECEMBER 2023**
|**Notes**
**INCOMING RESOURCES**
Incoming Resources from generated funds:
Income from Lease of the Buildings
and Land to Birmingham City Council
Bank Interest
Fundraising Grant Income
**1**
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
Admin and Professional Fees
Caretakers House
School repairs and maintenance
Building Plans / Project
**TOTAL RESOURCES EXPENDED**
**NET INCOMING RESOURCES**
**Surplus on valuation of school buildings**
**NET INCOMING RESOURCES**
FUNDS attributable to the Charity at start of period|**Opening Total**
**5th Dec 2023**
**£**
93
3,000
_____|
|---|---|
||
**3,093**
**_____**|
||
3,818
465
24,284
15,812
_____|
||
**44,379**
**_____**|
||
**(41,286)**
_____|
||
**120,000**
**(41,286)**
**134,361**
_____|
||
**213,075**
_____|
Page **7** of **9**
## **SELLY OAK NURSERY SCHOOL LAND AND BUILDINGS**
## **OPENING ACCOUNTS 5 DECEMBER 2023**
## **BALANCE SHEET**
## **AS AT 5 DECEMBER 2023**
||**Notes**|**5th December 2023**|
|---|---|---|
|||**£**|
|**FIXED ASSETS**|||
|Tangible Fixed|||
|Assets|2|**120,000**|
|**CURRENT**|||
|**ASSETS**|||
|Cash at Bank||**111,721**|
|**DEBTORS**|||
|Rent due from BCC|3|**6,750**|
|**CREDITORS**|||
|Amounts falling||**(40,511)**|
|Due within 1 year|||
|||_______|
|**NET CURRENT LIABILITIES**||**197,960**|
|||_______|
|**FUNDS**|||
|Unrestricted||**90,190**|
|Restricted||**120,000**|
|||_______|
|**TOTAL FUNDS**||**210,190**|
|||_______|
The accounts were approved by the Trustees on 31[st] January 2024 And signed on their behalf by
Tom Buxton, Chair of Trustees Date: 31[st] January 2024
Page **8** of **9**
**SELLY OAK NURSERY SCHOOL LAND AND BUILDINGS**
## **OPENING ACCOUNTS 5 DECEMBER 2023**
## **NOTES TO THE ACCOUNTS**
1. FUNDRAISING GRANT INCOME
This is grant income raised from charitable trusts towards the school improvement project.
## 2. TANGIBLE FIXED ASSETS
For the purposes of calculating rent payable by Birmingham City Council, a valuation report was carried out by Gerald Eve LLP Chartered Surveyors.
The valuation did not include the house, which still remains under the management of the Charity Trustees, although there are now plans to sell the asset to raise funds for the school improvement project. A new valuation of the school will be undertaken in 2025/26 financial year.
## 3. DEBTORS
The total amount of rent arrears currently owed by Birmingham City Council is £6,750.
Page **9** of **9**