2024-03-31-accounts - Sunrise Community Nurseries

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Docusign Envelope ID: 0810ACF7-AA31-4013-8099-2485017C53F3

Sunrise Community Nurseries

Charity No. 1194221

Company No. 08578387

Trustees' Report and Unaudited Accounts

31 March 2024

Docusign Envelope ID: 0810ACF7-AA31-4013-8099-2485017C53F3 Sunrise Community Nurseries Contents

	Pages
Trustees' Annual Report	2 to 3
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	14
Detailed Statement of Financial Activities	15 to	16

Page 1

Docusign Envelope ID: 0810ACF7-AA31-4013-8099-2485017C53F3

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 31 March 2024.

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:

O. Carr (Resigned 26 October 2023) F. Chiwetu M. Jones (Resigned 26 October 2023) S. MacFarlane R. Montagnini J. Noel K. Thew (Resigned 31 December 2023) J. Whyte (Resigned 30 April 2023)

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.

Page 2

Docusign Envelope ID: 0810ACF7-AA31-4013-8099-2485017C53F3

Sunrise Community Nurseries

Trustees Annual Report

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.
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 17 December 2024

Page 3

Docusign Envelope ID: 0810ACF7-AA31-4013-8099-2485017C53F3 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 31 March 2024.

Responsibilities and basis of report

As the charity's trustees of the company (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, which is one of the listed bodies.

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:

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 methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (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 17 December 2024

Page 4

Docusign Envelope ID: 0810ACF7-AA31-4013-8099-2485017C53F3 Sunrise Community Nurseries Statement of Financial Activities

for the year ended 31 March 2024

Unrestricted funds 2024 £ 932,909 2,000	Total funds 2024 £ 932,909 2,000	Total funds 2023 £ 714,427 -
934,909 1,084,574 77,882	934,909 1,084,574 77,882	714,427 661,459 33,785
1,162,456 -	1,162,456 -	695,244 -
(227,547) -	(227,547) -	19,183 -
(227,547)	(227,547)	19,183
(227,547) 383,294	(227,547) 383,294	19,183 364,111
155,747	155,747	383,294

Page 5

Docusign Envelope ID: 0810ACF7-AA31-4013-8099-2485017C53F3 Sunrise Community Nurseries Summary Income and Expenditure Account

for the year ended 31 March 2024

Income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net (expenditure)/income before tax for the year Tax payable Net (expenditure )/income for the year	2024 £ 934,909 934,909 1,140,863 19,562 1,160,425 (225,516) (2,031) (227,547)	2023 £ 714,427
		714,427
		688,645 6,599
		695,244
		19,183 -
		19,183

Page 6

Docusign Envelope ID: 0810ACF7-AA31-4013-8099-2485017C53F3 Sunrise Community Nurseries

Balance Sheet

at 31 March 2024

Company No. 08578387 Notes 2024 £ Fixed assets Tangible assets 10 58,423 58,423 Current assets Debtors 11 16,010 Cash at bank and in hand 101,308 117,318 Creditors:Amount falling due within one year 12 (19,994) Net current assets 97,324 Total assets less current liabilities 155,747 Net assets excluding pension asset or liability 155,747 Total net assets 155,747 The funds of the charity Restricted funds 13 Unrestricted funds 13 General funds 155,747 155,747 Reserves 13 Total funds 155,747	2023 £ 19,796
	19,796 64,052 306,525
	370,577 (7,079)
	363,498 383,294
	383,294
	383,294
	383,294
	383,294
	383,294

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 March 2024 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 17 December 2024

And signed on its behalf by:

F. Chiwetu Trustee

17 December 2024

Page 7

Docusign Envelope ID: 0810ACF7-AA31-4013-8099-2485017C53F3

Sunrise Community Nurseries

Notes to the Accounts

for the year ended 31 March 2024

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: 0810ACF7-AA31-4013-8099-2485017C53F3 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:

Computer Equipment 33.33%% Straight Line 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: 0810ACF7-AA31-4013-8099-2485017C53F3

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: 0810ACF7-AA31-4013-8099-2485017C53F3 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 Statement of Financial Activities - prior year

3 Statement of Financial Activities - prior year
Income and endowments from: Charitable activities Total Expenditure on: Charitable activities Other Total Net income 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 charitable activities Childcare and Education Fundraising Activities 5 Other income Training Grants	Unrestricted £ 932,411 498 932,909 Unrestricted £ 2,000 2,000	Unrestricted funds 2023 £ 714,427 714,427 661,459 33,785 695,244 19,183 19,183 19,183 364,111 383,294 Total 2024 £ 932,411 498 932,909 Total 2024 £ 2,000 2,000	Total funds 2023 £ 714,427
			714,427 661,459 33,785
			695,244
			19,183
			19,183
			19,183 364,111
			383,294
			Total 2023 £ 714,427 -
			714,427
			Total 2023 £ -
			-

Page 11

Docusign Envelope ID: 0810ACF7-AA31-4013-8099-2485017C53F3 Sunrise Community Nurseries

Notes to the Accounts

6 Expenditure on charitable activities

Expenditure on charitable activities Childcare and Education Governance costs 7 Other expenditure Corporation tax charge/(credit) Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets 8 Net (expenditure)/income before transfers This is stated after charging: Depreciation of owned fixed assets 9 Staff costs No employee received emoluments in excess of £60,000.	Unrestricted £ 1,084,574 1,084,574 Unrestricted £ 2,031 56,289 19,562 77,882 2024 £ 19,562	Total 2024 £ 1,084,574 1,084,574 Total 2024 £ 2,031 56,289 19,562 77,882	Total 2023 £ 661,459
			661,459
			Total 2023 £ - 27,186 6,599
			33,785
			2023 £ 6,599

Page 12

Docusign Envelope ID: 0810ACF7-AA31-4013-8099-2485017C53F3 Sunrise Community Nurseries Notes to the Accounts

10 Tangible fixed assets

Cost or revaluation At 1 April 2023 Additions At 31 March 2024 Depreciation and impairment At 1 April 2023 Depreciation charge for the year At 31 March 2024 Net book values At 31 March 2024 At 31 March 2023 11 Debtors Trade debtors Other debtors Prepayments and accrued income 12 Creditors: amounts falling due within one year Trade creditors Other taxes and social security Other creditors Accruals	Computer Equipment £ - 789 789 - 263 263 526 - 2024 £ 15,272 - 738 16,010 2024 £ 446 13,554 3,238 2,756 19,994	Fixtures, Fittings & Equipment £ 65,327 57,400 122,727 45,531 19,299 64,830 57,897 19,796	Total £ 65,327 58,189
			123,516
			45,531 19,562
			65,093
			58,423
			19,796
			2023 £ 61,019 2,031 1,002
			64,052
			2023 £ 2,033 2,290 - 2,756
			7,079

Page 13

Docusign Envelope ID: 0810ACF7-AA31-4013-8099-2485017C53F3 Sunrise Community Nurseries

Notes to the Accounts

13 Movement in funds

Incoming resources (including other gains/losses ) £ 934,909 934,909 At 1 April 2023 £	Resources expended £ (1,162,456) (1,162,456) Unrestricted funds £ 58,423 97,324 155,747 Cash flows £	At 31 March 2024 £ 155,747
		155,747
		Total £ 58,423 97,324
		155,747
		At 31 March 2024 £
306,525	(205,217)	101,308
306,525 306,525	(205,217) (205,217)	101,308
		101,308

16 Related party disclosures

Controlling party

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

Page 14

Docusign Envelope ID: 0810ACF7-AA31-4013-8099-2485017C53F3 Sunrise Community Nurseries Detailed Statement of Financial Activities

for the year ended 31 March 2024

Income and endowments from: Charitable activities Childcare and Education Fundraising Activities Other Training Grants Total income and endowments Expenditure on: Charitable activities Childcare and Education Total of expenditure on charitable activities Other expenditure Corporation tax charge/(credit) Premises costs Rent Rates Premises insurances Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of Computer Equipment Depreciation of Fixtures, Fittings & Equipment Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income	Unrestricted funds 2024 £ 932,411 498 932,909 2,000 2,000 934,909 1,084,574 1,084,574 1,084,574 2,031 2,031 17,333 7,760 2,479 28,717 56,289 263 19,299 19,562 77,882 1,162,456 - (227,547)	Total funds 2024 £ 932,411 498 932,909 2,000 2,000 934,909 1,084,574 1,084,574 1,084,574 2,031 2,031 17,333 7,760 2,479 28,717 56,289 263 19,299 19,562 77,882 1,162,456 - (227,547)	Total funds 2023 £ 714,427 -
			714,427
			-
			-
			714,427 661,459
			661,459
			661,459 -
			-
			13,160 10,085 1,773 2,168
			27,186
			- 6,599
			6,599
			33,785
			695,244 -
			19,183

Page 15

Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward Sunrise Community Nurseries Detailed Statement of Financial Activities Docusign Envelope ID: 0810ACF7-AA31-4013-8099-2485017C53F3	(227,547) - (227,547) 383,294 155,747	(227,547) - (227,547) 383,294 155,747
			19,183 -
			19,183
			364,111
			383,294

Page 16