REGisfERED CHARITY NUMBER: 1200136 Report of the Trustees and Unaudited Flnanctal Statèments for the Perlod 22 Autu# 2022 to 22 February 2024 for Puddleducks Nursery Chalford CIO GCSD Accountants Limited 701 Stonehouse Park Sperry Wav Stonehouse Gloucestershire GLIO 3UT
Puddleducks Nursery Chalford CIO Contents of the Finandal St3tements forthe Pèrlod 22 Au8USt 2022 to 22 February 1024 Page Reference ?nd Administrative Details Manager's and Chairperson's Report Report of the Trustees Independent Examiner's Report St3temÈnt of Mnanclal Activities Balance Sheet Notes to the Financlal Statements 10 to 14 Detailed Statement of Flnanclal Actlvltles IS to 16
Puddledu¢k5 Nur5Èry Chalford CIO R¢f*rente and Admln5stratlve Details for the Pèriod 22 Au8USt 2022 to 22 Fèbruary 2024 TRUSTEES Mrs L N Hood (appointed 22.8.221 Mrs H L Miram5 (appointed 22.8.221 Mrs S L Ireland lappointed 22.8.221 M5 A S 8urnèr (appointed 22.8.221 PRINCIPAL ADDRESS Haywards Lane Chalford Hlll Stroud Gloucestershlre GL6 8LH REGISTERED CHARtrY NUMBER 1200136 INDEPENDENT EXAMINER GCSD Accountants Llmited 7015tonehouse Park Sperry Way Stonehouse Gloucestershire GLIO 3UT SOLICITORS Christopher 08vldson Solicitors LLP 2 and 3 Oriel Terrace Oriel Road Cheltenham GLSO IXP Pa8e I
Puddleducks Nursery Chalford CIO Manager's and Chalyperson's Report for the Period 22 Au811St 2022 to 22 February 2024 Sarah Irtland- Manager's report We started the new charity under a new Ofsted re8lStration, in December 2022, on the final day of term before the Christmas holiday5. We then started the new year on January 2023 under our new Ofsted registration as Puddleduck5 Nursery Chalford CIO. We were fully booked wlth children. and several new children joined the Ducklin85 group. The transition to the new charity was srnooth, and the staff and familie5 welcomed the Change. Our wonderfully dedicated stsff are a huge asset to thè charity. and they are all very much appreciated. Our team has continued to grow and prosper. We sadly said a fond farewell to Gemma in March 2023 and we welcomed Karen lin March 231. Camilla 3150 left for pastures new in August 23. and we welcomed Millie liri September 231 and Vicky lin October 231. Tara and Holly birth tompleted their NVQ professional qualifications, and both achieved a distinctionl Lelbe also complete the Level 3 SENCO award. Other staff trainin8 included a full team child protertion update for our early year'5 advisor at Gloucestershire County council. first aid training and dorllestic abuse training. We have invested in creating a lovely new staff room area in a space that we previously used as a store cupboard. This has provided a calm and relaxing area for thÈ staff to take a well-deserved rest. and also a spacè for private meetings. In September 2023. following parental requ25ts. we decided to trial ovt taking children from I year of age (previously our youngest children were 18 months oldl. This has been a hu8e success and has been very popular with parent5. We have also helped to provide a wider range of Service for our local tommunity as childcare for under 2 year olds is very limited IA our area. We have extended the number of l year olds we are able to care for nex academic year, meanin8 more parents are able to return to work following their maternity leave. We contlnued to develop the play areas and invest In new equlpment to benefit the children. New resources included investing in more travel cots, sleep mats and specialist furniture for our baby room, and Sensory play, new science equipment ènd an outside literacy area for our preschoolers. We also invested in making better use of the er)trance hallways to ereate 3 separate welcome areas for each age 8roup, which has really helped to further f3cilitate the strong Key person bond and has made it easier to give parents and children moré tTrmè and attention as thèy arrive and leavè èach day. Thank you to everyone for your support and dedication to Puddleducks, it truly is such a very special place. Alexandra Burner- Chairperson's report The expansion of Puddledutks over the Tetertt year5 placed increased finantial and le8al responsibility on the Trustees, making it very hard to attratt new Trustees. As Trustees where only able to join the committee if they had children attending our setting, the Trustee5 where on5y ever in place short term. making future planning difficult. Our new set up a Charitable Inctsrpofated Or8anisation. has taken over running Puddleducks playgroup untncorporated charity as a new legal entity. This has provided more stabi5ity and ¢onsisten¢y with a smallèr and longer standing board of Trustees. Since starting up our new charity - Puddleducks Nursery Chalford CIO, we have continued to 8row and prosper as an organi5ation. The great aspects of our setting have continued, and we are still blessed with a dedicated team of staff and the children are very happy in our care. The added stability of a more permanent board of frustees has helped with decision making and future planning. We already have plan5 to extend and make improvements to the premises which will start in a few weeks and we will start next academic year fully booked. Pa8e 2
Puddleducks Nursery Chalford CIO Manager's and Chzhrper50n's Report forthe Period 22 August 20Z2 to 22 February 2024 The increased number of children attending due to tak5ng childrer) from l year of age, meant we could offer the staff a significant pay increase to match the steep rise in the NLW. We have also been able to invest in new equipment, resources. and training for our staff team. We no longer have to rely on fundraising events to contribute to our income, which has massively reduced the workload for the Trustees, ollowing us to focus more on the extremely irnportant management of the group. Page 3
Puddledu¢ks Nursery Chalford CIO Rèport of the Trustees for thè Perlod 22 August 2022 to 22 February 2024 The trustees present their report with the financial statements of the charity for the period 22 August 2022 to 22 February 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practlce applScable to charite5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191. OBJECTrVE5 AND AcrivmES Objectives and aims Puddleducks Nursery 15 a Charitable Incorporated Organisation ICIOI 8overned by constitution regulated by Charity Commission and is a body associated w5th PATA Gloucestershire. The aim of Puddleducks is to enhance thè devÈlopment. care and education of children, primarily under statutory School age and a150 children and young people of school age by encouraglng parents to understand and provide for the needs of their children throu8h community voluntarily mana8ed grDUPS al offering appropriate play facilities and training courses, together with thè right of parents to take responsibility for and to become involved in the activitie5 of suth groups. ensurin8 that such 8roups offer opportunities for all children and young people, whatever their race, culture, reli8ion, rnean5 or ability bl encoLSraging the study of the needs of such children and their families and promoting public interest in and recognition of such needs in the Socal area5 cl instigatin8 and adherin8 to and furthering the aims of Gloucestershire PATA ACHIEVEMENT AND PERFORMANCE Internal and external factors artd upcomin8 ff nanclal Issues Rise the Natlonal Living Wage IIO%I and uplift of all staff Salaries to retain pay difference to reflect additional qualifications and respgn5ibilities has been factored into pay rises from April 2024. The staff expenditure has therefore inereased by around E2k per month. The introduction of 15 hours funding for eligible working parents of 2-year-olds from April 2024, 15 now activè. The Charity now have 77% of children are now funded. Thankfully the rate for 2-year-olds is the same as the rate for fee payers. however the 3-yÈar-old rate is still significantly lower than our hourly rate for fee payers. Thls has been overcome by introducing a charge for snacks to help cover the Ioss. Page 4
Puddleducks Nursèry Chalford CIO Report of the Trustees for the Perlod 22 Au8USt 2022 to 22 February 2024 FINANCIAL REVIEW Financial position Total income for the Financial Period 22nd Au8USt 2022 to 22nd February 2024 was £415,081. Payments for the same period totalled £309,013 re5ultin8 in a net income of £106,068. The Nursery's main source of incorne is from the provislon of nursery education li.è. invoiced fees and local authority funding Incornel which accounted lor income of £345,217. Other receipts totalled £69.864 comprisin8 of £16 from fundraising, bank interest of £442 and donations and 8rant5 of E69,406. including £68.571 frorn the antecedent organi5ation. Employment costs are the Nursery's largest single expenditure with total wages costs of £203,571. Other expenditure of £105.442 consists ot social security, pensions, rents support and operational costs. A full break down can be found on pages 15 to 16. The end of financial period for the new CIO charity showed a net income of £106,068. This is exactly where we hope to be a5 a registered charlty and not for profit organisation. We have managed tg invest in our premises by repurposin8 the available spate in the buildin8, improving the work envlronment and giving the staff a lovely space for their breaks and buildin85. Prlnclpal fundlng sources The Nursery'5 main source of Income is the Local Authority Nursery Education Fundtn& accounting for nearly 40% of total income this financial period. Invoiced fees (for children not yet eligiblè for funding or those who attend for more than their entitlement of funded hours) accounted for around 44% of our income. Reserves policv The Charity hold reserves to cover unexpected drops in income, and to meet the costs of unexpected contracts should the Nursery for any rèason be forced to closè its operation5.' income may be lower than anticipated in anv Year as a result of falling child numbers. or lower take-up of nursery education Sessions. Unexpired contracts include premise5 rental and other utllitie5, insurances, and staff redundancy costs. The reserves policy 15 reviewed on an annual basis. Golng contern After making appropriate enquiTies, the Trustees have a reason3ble expettation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. STRUUURE, GOVERNANCE AND MANAGEMENT Governin8 document Thè Charity is eonstituted as a Charitable Incorporated Organisation ICIOI and is govèrned by a constitution dated 1st August 2022 and was registered with the Charity Commlssion as a charity on 22nd August 2022. Page 5
Puddleducks Nursery Chalford CIO Report of the Trustees for the Period 22 August 2022 to 22 February 2024 STRucfuRE. GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees The Trustee5 meet once a term. six times a year. All parents and carers for children attending Puddleducks re invited to become members. New trustees are appointed at the Annual General Meeting. Currer¢t trustees when recruiting new trustees, consider the skllls. knowledge and experience requifed to ensurè that the charity is well governed and run effectively. Indurtlon and trainlng of new trustees The Charity ensures that all Its new and potential trustees have acees5 to the Charity Commission's publication Responsibilities of Charity Trustees ICC31 and that they have read and understood the contents. Trustees understand their obligation to cheek the eli8ibility of new trustees they are awarè of the legal rules on eligibility to serve as a trustee. Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Approved by order of the board of trustees on 19 July 2024 and si8ned on its behalf by.. O-,L, Mrs S L Ireland- Trustee Page 6
Indepèndent Examlner's Report to the Trustees of Puddledu¢ks Nursery Chalford CIO Independent examlner's report to the trustees of Puddledud¢s Nursèry Chalford CIO I report to the charity trustees on my examination of the accounts of Puddleducks Nursery Chalfgrd CIO IthE Tru5tl for the period 22 August 2022 to 22 February 2024. Responslbllltles and ba515 of report As the charity trustèes of the Trust you are responslble for the preparation of the accounts in actordance with ihè requlrements of the Charlties Act 20111'the Art'l. I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 14515llbl of the Att. Independent examiner's Statement Since your charlty's gross income exceeded £250,000 your examiner rnu5t be a rnember'of a listed body. I can confirm that l am qualified to undertake the examinat50n because l am a member of the Association of Chartered Certified Accountants. which Is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention In connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of thè Trust as required by Section 130 of the Act; or the accounts do not accord with those records- or the accounts do not comply with the applicable requirements Concernin8 the form and content of ccount5 set out In the Charities (Accounts and Reportsl Regulations 2008 other than any requ5rement that the accounts 8ive a true and fair view which 15 not a matter considered as part of an independent examination. I have no concerns and have come across no other matter5 in connection with the examination to which attention should be drawn in this report in order to enable a proper understandin8 of the accounts to be reached. Mr M Aldrtdge FCCA The Association of Chartered Certified Accountsnts GCSD Accountants Llmited 701 Stonehouse Park Spefry Way Stonehouse Gloucestershire GLIO 3UT 19 july 2024 Page 7
Puddledutks Nursery Chalford CIO ststement of Flnancial Artivitles forthe Period 22 August 2022 to 22 February 2024 Unrestricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legade5 234,426 180,213 442 other trading artivities Investment income 415,081 Total EXPENOITURE ON 309.013 Other 106,068 NETINCOME TOTAL FUNDS CARRIED FORWARD 106,068 The notes form part of these financial statements Page 8
Puddledutks Nursery Chalford CIO Balancè Sheèt 22 February 2024 Unrestricted fund Notes FIXED ASSETS Tangible assets 8.896 CURRENT ASSETS Debtors Cash at bank 48.807 51.521 100,328 CREDITORS Amounts fa11in8 due within one year 13.1561 Nrr CURRENT ASSErs 97,172 TOTAL ASSETS LESS CURRENT LIABILMES 106.068 NET ASSETS 106,068 FUNDS Unrestritted funds io 106,068 TOTAL FUNDS 106,068 The financial statements were approved by the Board of Trustees and authorised for issue on 19 July 2024 and were 518ned on its behalf by.. 5 L Ireland- Trustee The notes fomi part of these financial statements Page 9
Puddleduck5 Nurs•ry Chalford CIO Notes to the Flnanclzl Statemènts for the Perlod 22 Au8ilSt 2022 to 22 February 2024 ACCOUNTING POLICIES Basls of preparing the financial statements The financial statements of the charity, whlch Is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accountin6 and Reporting by Charities.. Statement of Recommended Prattsce applicable to charities preparing their accounts in accordance with the Fir5ancial Reporting Standard applieable in the UK and Republic of Ireland IFRS 1021 (èffective l January 20191., Financi31 Reporting Standard 102 ryhe Financial Reporting Standard applicable in the UK and Republic of Ireland, 3nd the Charitie5 Act 2011. The financial statemènts have been prepared underthe historical cost tonvention. Income All income is recognised in the Ststement of Financial Activitie5 once the charity ha5 entitlement t the funds. it l5 probable that the income wlll be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obltgation committin8 the charity to that expenditure. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be rnea5ured reliably. Expenditure is accounted for on an accruals basi5 and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tanglble fixed assets Depreciation 15 provided at the following annual rates in order to write off eath asset over its estimated useful life. Fixtures & fittings: 25% on cost Improvements to property.. 4% on cost Taxatlon The charity is exempt from tax on it5 charitable activities. Fund accountÈng Unrestricted funds can be used In accordance with the tharitable objectives at the discretion of the trustees. Restricted funds tan only be used for particular rèstricted purposes within the objects of the charlty. RestrictSons arise when specified by the donor or when funds are raised for particular restritted purposes. HlrÈ purthase and leasin8 commltments Rentals paid under operatin8 leases are charged to the Statement of Financial Activitie5 on a strai8ht line basis over the peiiod of the lease. Pa8e 10 continued...
Puddleduck5 Nursery Chalford CIO Notes to the Flnanclal Statemeryts- contlnued for the Period 22 August 2022 to 22 February 2024 AccouTrmNG POLICIES. contimièd Pènslon costs and other post-retirement benefits The charity operates a defined contribution pension Scheme. Contributlons payable to the charfty'5 pension scheme are charged to the Ststement of Financial Activities in the period to whith thev relate. OTHER TRADING AcfiviTIES Fundraising events Fees 16 180.197 180,213 INVESTME INCOME Deposit account interest 442 SUPPORT COSTS Governance costs Other Totals Other resources expended 38.712 4,848 43.560 Support costs, included in the above. are as follows.. Other resources expended Rents Rates and water Insurance Light and heat Postage and stationery Repairs and maintenance Depreclation of tan8ible fixed assets Legal fee5 Accountancy fees 7,583 2,366 1.702 2,997 359 21,410 2,295 2.388 2,460 43.560 Page 11 cantinued..
Puddleducks Nursery Chalford CIO Notes to the Financial Statements- contlnued for thè Pèriod 22 AUgt 2022 to 22 February 2024 TRUSTEES. REMUNERATION AND BENEFITS Mrs S L Ireland received rernuneration of £38,773 during the period ended 22 February 2024. There were no other trustees, remuneration or other bènefit5 for the period. Trustèes, expenses There were no trustees, expenses paid forthe period ended 22 Fèbruary 2024. STAFF cosrs The average monthly number of employees during the perlod was as follows.. Management Nursery staff No employees received emoluments in extess of £60.000. TANGIBLE FIXED ASSErs Improvements to propertv Fixtures and fittin8S Tota15 COST Additions 6,433 4.758 11.191 DEPRECIATION Charge for year 1.887 2,295 NETBOOKVALUE At 22 February 2024 6,025 2.871 8,896 Page 12 continued...
Puddleducks Nursery Ch3lford CIO Notes to the Flnanclal Statèments- continued for the Period 22 August 2022 to 22 February 2024 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Fees Other debtors Prepayments 1,646 46.345 816 48.807 CREDITORS:AMOUNTSFALLING DUEWITHIN ONE YEAR Taxation and social security Other creditors 243 2.913 3,156 io. MOVEMENTIN FUNDS Net movement in funds At 22.2.24 Unrestrlcted funds General fund 106,068 106,068 TOTAL FUNDS 106,068 106,068 Net movèment in funds. included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrirted funds General fund 415,081 1309.0131 106.068 TOTAL FUNDS 415,081 1309,0131 106,068 Page 13 continued.
Puddleducks Nursery Chalford CIO Notes to the Flnancial Statements- contlnued for the Period 22 August 2022 to 22 Fèbruary 2024 11. RELATED PARTY DISCLOSURES There were no related party transactions for the pèriod ended 22 February 2024. Page 14
Puddleduck5 Nursery Ch?Iford CIO Detailed Statement of Finantial Artlvltles forthe Period 22 Au8USt 2022 to 22 February 2024 5NCOME AND ENDOWMENTS Donations and le8acles Donation5 Transfer from antecedent or8anisation Grants 835 68.571 165,020 234.426 Other tradin8 actlvitle5 Fundraising events Fees 16 180.197 180.213 Ibwe5trnent Income Deposit account interest 442 Total In¢omlng rèsources 415,081 EXPENDITURE Other Wa8ES Social security Pensions Equipment Consumable5 and catering Advertising Bank charges Other staff expenses Fees and subscriptions Telephone Sundries Staff training 203,571 11,776 4,281 929 30,606 sio 14 1,874 7.893 2,040 236 1.723 265.453 Support Costs Thi5 page does not fom part of the statutory financial statements Page 15
Puddleducks Nursèry Chalford CIO Detalled Statement of Financial Actlvltles for the Period 21 August 2022 to 22 February 2024 Support costs Other Rents Rate5 and water Insurance Light and heat Postage and stationery Repairs and maintenance Oepreciation of tangible fixed assets 7.583 2,366 1,702 2,997 359 21,410 2,295 38,712 Governance costs Legal fees Accountancy fees 2.388 2,460 4,848 Total resources expended 309,013 Net ineome 106,068 This pa8e does not form part of the statutory financial statements Page 16