DocuSign Envelope ID: D2E42AD0-08E0-4EE9-8120-79A1DDABE844
Sunrise Community Nurseries
Charity No. 1194221 Company No. 08578387
Trustees' Report and Unaudited Accounts
30 June 2022
DocuSign Envelope ID: D2E42AD0-08E0-4EE9-8120-79A1DDABE844 Sunrise Community Nurseries Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 2 | |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Summary Income and Expenditure Account | 6 | |
| Balance Sheet | 7 | |
| Notes to the Accounts | 8 to | 15 |
Page 1
DocuSign Envelope ID: D2E42AD0-08E0-4EE9-8120-79A1DDABE844
Sunrise Community Nurseries
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 30 June 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 08578387
Charity No. 1194221
Registered Office
Sunrise Community Nurseries Brockley Way Brockley London SE4 2LW
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:
L. Bazalgette F. Chiwetu J. Noel K. Thew
Accountants
Bradleys Accountants Ltd 81 Bellgrove Road Welling Kent DA16 3PG
OBJECTIVES AND ACTIVITIES
The purpose of the charity as set out in its governing document - The organisation was established to operate on a not-for-profit basis for the benefit of children and families in the local community to enhance the development and education of children primarily under statutory school age by offering appropriate play, education and care facilities.
The main activities undertaken in relation to those purposes were:
-
Work with the community, the local authorities, voluntary and other organizations to promote the advancement of early years education by the provision, support and conduct of community nurseries and family centres.
-
Develop and provide allied family support services where all members of the family have access to childcare, parenting support and early childhood diagnostic and therapeutic services that focus on individual needs in a safe supportive environment.
Page 2
DocuSign Envelope ID: D2E42AD0-08E0-4EE9-8120-79A1DDABE844
Sunrise Community Nurseries
Trustees Annual Report
-
Promote education and vocational training in respect of all matters relating to childcare, the child development, early education and the protection, health, and welfare of children.
-
Advance the education of the public in general, and care and education providers, in the fields of childcare, child development and early years and family interventions and therapies and to support and facilitate research for the public benefit in all aspects of those subjects.
-
Benefit the residents of the local community, working with the community, the local authorities, voluntary and other organizations in a common effort to provide high quality community facilities with the objective of improving access to early year education and family support services.
-
Promote and support the social inclusion of all families, irrespective of background, beliefs, or composition, who are excluded from society, or parts of society, due to their social and economic position.
ACHIEVEMENTS AND PERFORMANCE
This year the organisation managed to establish a new management team to strengthen the leadership of the organisation and provide structure.
A series of parent partnerships were set up with the Parents Forum and Friends and family group to assist with fundraising.
PLANS FOR FUTURE PERIODS
The board plans to: 1. Introduce stronger financial controls by implementing Quickbooks to produce monthly performance reports which will assist with future decision making. 2. Update and utilise the sensory room to help children develop and engage their senses and help interact with the world around us in a safe environment. 3. Establish a child contact centre which will be a neutral place for children of separated families to contact their non-resident parents. 4. Introduce after school and holiday clubs to provide additional childcare for local parents to ensure their children are stimulated and engaged.
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. Chiwetu Trustee 30 June 2022
Page 3
DocuSign Envelope ID: D2E42AD0-08E0-4EE9-8120-79A1DDABE844 Sunrise Community Nurseries Independent Examiners Report
Independent Examiner's Report to the trustees of Sunrise Community Nurseries
I report to the charity trustees on my examination of the financial statements of Sunrise Community Nurseries for the year ended 30 June 2022 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
As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of FCCA.
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.
Alan McCappin FCCA Bradleys Accountants Ltd 81 Bellgrove Road Welling Kent
DA16 3PG 30 June 2022
Page 4
DocuSign Envelope ID: D2E42AD0-08E0-4EE9-8120-79A1DDABE844 Sunrise Community Nurseries Statement of Financial Activities
for the year ended 30 June 2022
| Notes Income and endowments from: Donations and legacies 3 Charitable activities 4 Investments 5 Other 6 Total Expenditure on: Charitable activities 7 Other 8 Total Net gains on investments Net income 9 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 2022 £ (1) 894,381 117 1,842 |
Total funds 2022 £ (1) 894,381 117 1,842 |
|---|---|---|
| 896,339 680,979 93,795 |
896,339 680,979 93,795 |
|
| 774,774 - |
774,774 - |
|
| 121,565 - |
121,565 - |
|
| 121,565 | 121,565 | |
| 121,565 242,546 |
121,565 242,546 |
|
| 364,111 | 364,111 |
Page 5
DocuSign Envelope ID: D2E42AD0-08E0-4EE9-8120-79A1DDABE844 Sunrise Community Nurseries
Summary Income and Expenditure Account
for the year ended 30 June 2022
| Income Interest and investment income Gross income for the year Expenditure Interest payable Depreciation and charges for impairment of fixed assets Total expenditure for the year Net income before tax for the year Net income for the year |
2022 £ 896,222 117 |
|---|---|
| 896,339 | |
| 765,850 595 8,329 |
|
| 774,774 | |
| 121,565 | |
| 121,565 |
Page 6
DocuSign Envelope ID: D2E42AD0-08E0-4EE9-8120-79A1DDABE844 Sunrise Community Nurseries
Balance Sheet
at 30 June 2022
| Company No. 08578387 Notes 2022 £ Fixed assets Tangible assets 11 24,986 24,986 Current assets Debtors 12 9,360 Cash at bank and in hand 343,431 352,791 Creditors:Amount falling due within one year 13 (13,666) Net current assets 339,125 Total assets less current liabilities 364,111 Net assets excluding pension asset or liability 364,111 Total net assets 364,111 The funds of the charity Restricted funds 14 Unrestricted funds 14 General funds 364,111 364,111 Reserves 14 Total funds 364,111 |
£ - |
|---|---|
| - - - |
|
| - - |
|
| - - |
|
| - | |
| - | |
| 242,546 | |
| 242,546 | |
| 242,546 |
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 30 June 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 30 June 2022
And signed on its behalf by:
K. Thew Trustee
30 June 2022
Page 7
DocuSign Envelope ID: D2E42AD0-08E0-4EE9-8120-79A1DDABE844 Sunrise Community Nurseries
Notes to the Accounts
for the year ended 30 June 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 8
DocuSign Envelope ID: D2E42AD0-08E0-4EE9-8120-79A1DDABE844 Sunrise Community Nurseries
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.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Fixtures, Fittings & 25%% Reducing Balance Equipment
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
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.
Page 9
DocuSign Envelope ID: D2E42AD0-08E0-4EE9-8120-79A1DDABE844 Sunrise Community Nurseries
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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
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.
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.
Page 10
DocuSign Envelope ID: D2E42AD0-08E0-4EE9-8120-79A1DDABE844 Sunrise Community Nurseries Notes to the Accounts
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
| 4 Income from charitable activities Childcare and Education 5 Income from investments 6 Other income Job Retention Scheme Income 7 Expenditure on charitable activities Expenditure on charitable activities Childcare and Education Governance costs |
Unrestricted £ (1) (1) Unrestricted £ 894,381 894,381 Unrestricted £ 117 117 Unrestricted £ 1,842 1,842 |
Total 2022 £ (1) (1) Total 2022 £ 894,381 894,381 Total 2022 £ 117 117 Total 2022 £ 1,842 1,842 |
|---|---|---|
| Unrestricted £ 680,979 680,979 |
Total 2022 £ 680,979 680,979 |
Page 11
DocuSign Envelope ID: D2E42AD0-08E0-4EE9-8120-79A1DDABE844 Sunrise Community Nurseries Notes to the Accounts
- 8 Other expenditure
| Other interest payable Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 9 Net income before transfers This is stated after charging: Depreciation of owned fixed assets 10 Staff costs No employee received emoluments in excess of £60,000. 11 Tangible fixed assets Cost or revaluation At 1 July 2021 Additions At 30 June 2022 Depreciation and impairment At 1 July 2021 Depreciation charge for the year At 30 June 2022 Net book values At 30 June 2022 At 30 June 2021 12 Debtors Trade debtors Other debtors Prepayments and accrued income |
Unrestricted £ 595 67,630 8,329 7,317 9,924 93,795 2022 £ 8,329 2022 £ 6,558 2,031 771 9,360 |
Total 2022 £ 595 67,630 8,329 7,317 9,924 93,795 Fixtures, Fittings & Equipment £ 56,962 6,956 63,918 30,603 8,329 38,932 24,986 26,359 |
Total £ 56,962 6,956 |
|---|---|---|---|
| 63,918 | |||
| 30,603 8,329 |
|||
| 38,932 | |||
| 24,986 | |||
| 26,359 | |||
Page 12
DocuSign Envelope ID: D2E42AD0-08E0-4EE9-8120-79A1DDABE844
Sunrise Community Nurseries
Notes to the Accounts
13 Creditors:
amounts falling due within one year
| Trade creditors Other taxes and social security Other creditors Accruals 14 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds 15 Analysis of net assets between funds Fixed assets Net current assets 16 Reconciliation of net debt Cash and cash equivalents Net debt |
At 1 July 2021 242,546 242,546 |
2022 £ 13,086 (3,610) 1,851 2,339 13,666 Incoming resources (including other gains/losses ) £ 896,339 896,339 |
Resources expended £ (774,774) (774,774) Unrestricted funds £ 24,986 339,125 364,111 Cash flows £ |
At 30 June 2022 £ 364,111 |
|---|---|---|---|---|
| 364,111 | ||||
| Total £ 24,986 339,125 |
||||
| 364,111 | ||||
| At 30 June 2022 £ |
||||
| 343,431 | 343,431 | |||
| 343,431 343,431 |
343,431 | |||
| 343,431 | ||||
| 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 13
DocuSign Envelope ID: D2E42AD0-08E0-4EE9-8120-79A1DDABE844 Sunrise Community Nurseries Detailed Statement of Financial Activities
for the year ended 30 June 2022
| Income and endowments from: Donations and legacies Charitable activities Childcare and Education Investments Other Job Retention Scheme Income Total income and endowments Expenditure on: Charitable activities Childcare and Education Total of expenditure on charitable activities Other expenditure Other interest payable Premises costs Rent Rates Light, heat and power Premises insurances Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of Fixtures, Fittings & Equipment Bank charges Software, IT support and related costs |
Unrestricted funds 2022 £ (1) (1) 894,381 894,381 117 117 1,842 1,842 896,339 680,979 680,979 680,979 595 595 16,791 10,775 18,653 1,732 19,679 67,630 8,329 390 1,036 |
Total funds 2022 £ (1) |
|---|---|---|
| (1) | ||
| 894,381 | ||
| 894,381 | ||
| 117 | ||
| 117 | ||
| 1,842 | ||
| 1,842 | ||
| 896,339 680,979 |
||
| 680,979 | ||
| 680,979 595 |
||
| 595 | ||
| 16,791 10,775 18,653 1,732 19,679 |
||
| 67,630 | ||
| 8,329 390 1,036 |
Page 14
DocuSign Envelope ID: D2E42AD0-08E0-4EE9-8120-79A1DDABE844
Sunrise Community Nurseries Detailed Statement of Financial Activities
| Stationery and printing Subscriptions Telephone, fax and broadband Legal and professional costs Audit/Independent examination fees Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
1,935 1,803 2,153 15,646 3,334 6,590 9,924 93,795 774,774 - 121,565 121,565 - 121,565 242,546 364,111 |
1,935 1,803 2,153 |
|---|---|---|
| 15,646 | ||
| 3,334 6,590 |
||
| 9,924 | ||
| 93,795 | ||
| 774,774 - |
||
| 121,565 | ||
| 121,565 - |
||
| 121,565 | ||
| 242,546 | ||
| 364,111 |
Page 15