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||Page||
|---|---|---|
|Reference and Administrative
Details|||
|Report ofthe Trustees|2 to|6|
|Report ofthe Independent
Auditors|7 to|10|
|Statement ofFinancial Activities|||
|Balance Sheet|12||
|Cash Flow Statement|13||
|Notes to the Cash Flow Statement|14||
|Notes to the Financial Statements|15 to|26|
|Detailed Statement ofFinancial Activities|27 to|28|
##
|TRUSTEES||KHillier (Chairman)|KHillier (Chairman)|||
|---|---|---|---|---|---|
|||C A Kelly|(Vice Chairman)|||
|||JBGater||||
|||AJLindley||||
|||D Sandell||||
|||C Wakely||||
|REGISTERED|OFFICE|20 Peppard Road||||
|||Caversham||||
|||Reading||||
|||Berkshire||||
|||RG4 8JZ||||
|REGISTERED|COMPANY|00159730|(England|and Wales)||
|NUMBER||||||
|REGISTERED|CHARITY|201911||||
|NUMBER||||||
|AUDITORS||Vale &West Accountancy|||Services Limited|
|||Chartered|Accountants|||
|||Statutory Auditors||||
|||Victoria House||||
|||26 Queen|Victoria Street|||
|||Reading||||
|||Berkshire||||
|||RG1 1TG||||
|SOLICITORS||Blandy 4|Blandy LLP|||
|||One Friar|Street|||
|||Reading||||
|||RG1 1DA||||
|BANKERS||Lloyds Bank pic||||
|||24 Broad Street||||
|||Reading||||
|||RG1 2BT||||
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|||FOR THE YE|AR EN|DED 31DEC|EMBER 2022|||
|---|---|---|---|---|---|---|---|
|||||||31.12.22|31.12.21|
|||||Designated|General|Total|Total|
|||||funds|fund|funds|funds|
||||Notes|||||
|INCOME|AND ENDOWMENTS FROM|||||||
|Donations|and legacies||4|2,139||2,139|2,055|
|Charitable|activities|||||||
|Childcare
activities|||||2,120,897|2,120,897|1,930,913|
|Investment|income||||42,000|42,000|42,000|
|Government|grants||||1,960|1,960|63,667|
|Total||||2,139|2,164,857|2,166,996|2,038,635|
|EXPENDITURE ON||||||||
|Charitable|activities|||||||
|Teaching and nursery costs||||1,494|1,521,476|1,522,970|1,454,333|
|Premises||||39,098|204,383|243,481|407,112|
|Support costs|||||268,263|268,263|279,899|
|Governance|costs||||7,920|7,920|9,435|
|Total||||40,592|2,002,042|2,042,634|2,150,779|
|NET INCOME/(EXPENDITURE)||||(38,453)|162,815|124,362|(112,144)|
|Transfers|between
funds||19|26,748|(26,748)|||
|Net movement
in funds||||(11,705)|136,067|124,362|(112,144)|
|RECONCILIATION||OF FUNDS||||||
|Total funds|brought
forward|||181,523|1,324,164|1,505,687|1,617,831|
|TOTAL FUNDS CARRIED FORWARD||||169,818|1,460,231|1,630,049|1,505,687|
##
|||||31.12.22|31.12.21|
|---|---|---|---|---|---|
|||Designated|General|Total|Total|
|||funds|fund|funds|funds|
||Notes|||||
|FIXEDASSETS||||||
|Tangible assets|12||586,077|586,077|623,372|
|Investment
property|13||560,000|560,000|560,000|
||||1,146,077|1,146,077|1,183,372|
|CURRENT ASSETS||||||
|Debtors|14||32,780|32,780|30,410|
|Cash at bank and in hand||169,818|567,172|736,990|795,002|
|||169,818|599,952|769,770|825,412|
|CREDITORS||||||
|Amounts
falling due within one year|15||(181,325)|(181,325)|(206,064)|
|NET CURRENT ASSETS||169,818|418,627|588,445|619,348|
|TOTAL ASSETSLESSCURRENT||||||
|LIABILITIES||169,818|1,564,704|1,734,522|1,802,720|
|CREDITORS||||||
|Amounts
falling due after more than one||||||
|year|16||(104,473)|(104,473)|(297,033)|
|NET ASSETS||169,818|1,460,231|1,630,049|1,505,687|
|FUNDS|19|||||
|Unrestricted
funds||||1,630,049|1,505,687|
|TOTAL FUNDS||||1,630,049|1,505,687|
##
||F|OR THE|YEAR ENDED 3|1DECEMBER 2022||
|---|---|---|---|---|---|
|||||31.12.22|31.12.21|
|||Notes||||
|Cash flows from operating|activities|||||
|Cash generated
from operations||||137,927|(81,674)|
|Net cash provided
by/(used|in)|operating|activities|137,927|(81,674)|
|Cash flows from investing|activities|||||
|Purchase oftangible fixed assets||||(15,590)|(20,714)|
|Investment
income||||42,000|42,000|
|Net cash provided by investing||activities||26,410|21,286|
|Cash flows from financing|activities|||||
|New loans in year|||||194,590|
|Loan repayments
in year||||(216,599)|(16,835)|
|Loan interest paid||||(5,750)|(3,358)|
|Net cash (used in)/provided|by|financing|activities|(222,349)|174,397|
|Change in cash and cash equivalents||||||
|in the reporting
period||||(58,012)|114,009|
|Cash and cash equivalents|at|the||||
|beginning
ofthe reporting|period|||795,002|680,993|
|Cash and cash equivalents|at|the end||||
|ofthe reporting
period||||736,990|795,002|
##
##
||OPERATING AC|TIVITI|ES|||||
|---|---|---|---|---|---|---|---|
|||||||31.12.22|31.12.21|
||Net income/(expenditure)||for the reporting||period (as per the|||
||Statement ofFinancial Activities)|||||124,362|(112,144)|
||Adjustments
for:|||||||
||Depreciation
charges|||||52,885|50,215|
||Investment
income|||||(42,000)|(42,000)|
||Interest payable|||||5,750|6,808|
||(Increase)/decrease|in debtors||||(2,370)|1,694|
||(Decrease)/increase|in creditors||||(700)|13,753|
||Net cash provided|by/(used||in) operations||137,927|(81,674)|
|2.|ANALYSIS OF CHANGES|||IN NET FUNDS||||
||||At 1.1.22|Cash flow|At 31.12.22|
|---|---|---|---|---|---|
|Net cash||||||
|Cash at bank and in hand|||795,002|(58,012)|736,990|
||||795,002|(58,012)|736,990|
|Debt||||||
|Debts falling due within||1 year|(40,115)|24,039|(16,076)|
|Debts falling due after|1|year|(297,033)|192,560|(104,473)|
||||(337,148)|216,599|(120,549)|
|Total|||457,854|158,587|616,441|
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||||||31.12.22|31.12.21|
|---|---|---|---|---|---|---|
||Donations||||2,139|2,055|
|5.|INVESTMENT|INCOME|||||
||||||31.12.22|31.12.21|
||Rents receivable||||42,000|42,000|
|6.|INCOME FROM CHARITABLE ACTIVITIES||||||
||||||31.12.22|31.12.21|
||||Activity||||
||Parent contributions||Childcare|activities|1,842,418|1,627,647|
||Local authority|funding|Childcare|activities|271,419|284,888|
||Other funding||Childcare|activities|7,060|18,378|
||||||2,120,897|1,930,913|
|||||Depreciatio||
|---|---|---|---|---|---|
|2022||Staff Costs|Other|n|Total|
|Nursery costs||1,174,170|348,800||1,522,970|
|Premises||29,570|173,907|40,004|243,481|
|Support costs||178,217|77,165|12,881|268,263|
|Governance|costs||7,920||7,920|
|||1,381,957|607,792|52,885|2,042,634|
|||||Depreciatio||
|---|---|---|---|---|---|
|2021||Staff Costs|Other|n|Total|
|Nursery costs||1,143,065|311,268||1,454,333|
|Premises||30,286|337,405|39,421|407,112|
|Support costs||187,942|81,163|10,794|279,899|
|Governance|costs||9,435||9,435|
|||1,361,293|739,271|50,215|2,150,779|
##
##
||||31.12.22|31.12.21|
|---|---|---|---|---|
|Depreciation
-owned||assets|52,885|50,214|
|Bank loan|interest payable||5,750|6,808|
|Auditors'|remuneration|- audit fee|5,640|6,743|
|Auditors'|remuneration|-non audit|2,280|2,692|
##
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|STAF|F COSTS|||
|---|---|---|---|
|||31.12.22|31.12.21|
|Wages|and salaries|1,259,935|1,239,320|
|Social|security|97,836|90,794|
|Other|pension|24,186|31,179|
|||1,381,957|1,361,293|
||||||31.12.22|31.12.21|
|---|---|---|---|---|---|---|
|Teaching|and|child|welfare|staff|56|53|
|Others|||||8|7|
||||||64|60|
##
##
||||||31.12.22|31.12.21|
|---|---|---|---|---|---|---|
|Aggregate|employee|costs ofthe senior|management|team (including|||
|salary, benefits, pension contributions|||and national|insurance)|181,758|187,462|
||The number ofemployees
whose benefits (excluding
employer
pension costs) were betw
and 670,000 was 1 (2021 - nil).|The number ofemployees
whose benefits (excluding
employer
pension costs) were betw
and 670,000 was 1 (2021 - nil).|The number ofemployees
whose benefits (excluding
employer
pension costs) were betw
and 670,000 was 1 (2021 - nil).|The number ofemployees
whose benefits (excluding
employer
pension costs) were betw
and 670,000 was 1 (2021 - nil).|een
560,00|
|---|---|---|---|---|---|
|11.|COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES|||||
||||Designated|General|Total|
||||funds|fund|funds|
||INCOME AND ENDOWMENTS FROM|||||
||Donations
and legacies||2,055||2,055|
||Charitable
activities|||||
||Childcare activities|||1,930,913|1,930,913|
||Investment
income|||42,000|42,000|
||Government
grants|||63,667|63,667|
||Total||2,055|2,036,580|2,038,635|
||EXPENDITURE ON|||||
||Charitable
activities|||||
||Teaching and nursery costs||1,874|1,452,459|1,454,333|
||Premises||202,720|204,392|407,112|
||Support costs|||279,899|279,899|
||Governance
costs|||9,435|9,435|
||Total||204,594|1,946,185|2,150,779|
||NET INCOME/(EXPENDITURE)||(202,539)|90,395|(112,144)|
||Transfers between funds||120,320|(120,320)||
||Net movement
in funds||(82,219)|(29,925)|(112,144)|
||RECONCILIATION|OF FUNDS||||
||Total funds brought
forward||263,742|1,354,089|1,617,831|
||TOTAL FUNDS CARRIED|||||
||FORWARD||181,523|1,324,164|1,505,687|
##
##
|12.|TANGIBLE FIXEDASSETS|||||
|---|---|---|---|---|---|
||||Freehold|Plant and||
||||property|machinery|Totals|
||COST|||||
||At 1 January 2022||1,477,110|85,304|1,562,414|
||Additions|||15,590|15,590|
||At 31December 2022||1,477,110|100,894|1,578,004|
||DEPRECIATION|||||
||At 1 January 2022||875,586|63,456|939,042|
||Charge for year||40,004|12,881|52,885|
||At 31December 2022||915,590|76,337|991,927|
||NET BOOK VALUE|||||
||At 31December 2022||561,520|24,557|586,077|
||At 31December 2021||601,524|21,848|623,372|
|13.|INVESTMENT PROPERTY|||||
||FAIR VALUE|||||
||At 1 January 2022|||||
||and 31December 2022||||560,000|
||NET BOOK VALUE|||||
||At 31December 2022||||560,000|
||At 31December 2021||||560,000|
||Fair value at 31December 2022 is represented|by:||||
||Valuation
in 2009||||201,430|
||Valuation
in 2017||||215,000|
||Valuation
in 2019||||25,000|
||Valuation
in 2020||||10,000|
||Cost||||108,570|
||||||560,000|
##
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|DEBTORS:AMOUNTS|FALLING DUE WITHIN ONE YEAR|||
|---|---|---|---|
|||31.12.22|31.12.21|
|Fees outstanding||3,460|9,404|
|Other debtors and prepayments||29,320|21,006|
|||32,780|30,410|
|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR||||
|||31.12.22|31.12.21|
|Bank loans and overdrafts|(see note 17)|16,076|40,115|
|Trade creditors||35,520|38,320|
|Social security and other|taxes|20,389|22,658|
|Other creditors||9,814|11,275|
|Deferred income||71,857|67,768|
|Accruals||27,669|25,928|
|||181,325|206,064|
##
||FOR THE YEAR ENDED 31DECEMB|FOR THE YEAR ENDED 31DECEMB|ER 2022||
|---|---|---|---|---|
|16.|CREDITORS: AMOUNTS FALLING DUE AFTER MORE||THAN ONE YEAR||
||||31.12.22|31.12.21|
||Bank loans|(see note 17)|104,473|297,033|
|17.|LOANS||||
||An analysis|ofthe maturity ofloans is given below:|||
||||31.12.22|31.12.21|
||Amounts
falling due within one year on demand:||||
||Bank loans||16,076|40,115|
||Amounts
falling between
one and two years:||||
||Bank loans|- 1-2years|17,010|55,936|
||Amounts
falling due between two and five years:||||
||Bank loans|- 2-5 years|57,191|177,614|
||Amounts
falling due in more than five years:||||
||Repayable|by instalments:|||
||Bank loans|more 5 yr by instal|30,272|63,483|
##
||31.12.22|31.12.21|
|---|---|---|
|Within one year|4,149|5,859|
|Between one and five years|6,570|10,719|
||10,719|16,578|
##
##
|||||Net|Transfers||
|---|---|---|---|---|---|---|
|||||movement|between|At|
||||At 1.1.22|in funds|funds|31.12.22|
|Unrestricted|funds||||||
|General Fund - Other|||872,734|162,815|(26,748)|1,008,801|
|General Fund - Revaluation||Reserve|451,430|||451,430|
|Designated|-Maintenance|Fund|168,200|(39,098)|25,398|154,500|
|Designated|-Parental Fundraising||2,276|645|(1,050)|1,871|
|Designated|-Bursary||11,047||2,400|13,447|
||||1,505,687|124,362||1,630,049|
|TOTAL FUNDS|||1,505,687|124,362||1,630,049|
|||||Incoming|Resources|Movement|
|---|---|---|---|---|---|---|
|||||resources|expended|in funds|
|Unrestricted|funds||||||
|General Fund - Other||||2,164,857|(2,002,042)|162,815|
|Designated|-Maintenance||Fund||(39,098)|(39,098)|
|Designated|-Parental|Fundraising||2,139|(1,494)|645|
|||||2,166,996|(2,042,634)|124,362|
|TOTAL FUNDS||||2,166,996|(2,042,634)|124,362|
##
||||||Net|Transfers||
|---|---|---|---|---|---|---|---|
||||||movement|between|At|
|||||At 1.1.21|in funds|funds|31.12.21|
|Unrestricted|funds|||||||
|General Fund - Other||||902,659|90,395|(120,320)|872,734|
|General Fund - Revaluation|||Reserve|451,430|||451,430|
|Designated|-Maintenance||Fund|253,000|(202,720)|117,920|168,200|
|Designated|-Parental|Fundraising||2,095|181||2,276|
|Designated|-Bursary|||8,647||2,400|11,047|
|||||1,617,831|(112,144)||1,505,687|
|TOTAL FUNDS||||1,617,831|(112,144)||1,505,687|
##
##
||||Incoming|Resources|Movement|
|---|---|---|---|---|---|
||||resources|expended|in funds|
|Unrestricted|funds|||||
|General Fund - Other|||2,036,580|(1,946,185)|90,395|
|Designated|-Maintenance|Fund||(202,720)|(202,720)|
|Designated|-Parental Fundraising||2,055|(1,874)|181|
||||2,038,635|(2,150,779)|(112,144)|
|TOTAL FUNDS|||2,038,635|(2,150,779)|(112,144)|
##
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||||FOR THE YEAR ENDED 3|1DECEMBER 2022||
|---|---|---|---|---|---|
|||||31.12.22|31.12.21|
|INCOME AND|ENDOWMENTS|||||
|Donations
and|legacies|||||
|Donations||||2,139|2,055|
|Investment
income||||||
|Rents receivable||||42,000|42,000|
|Charitable
activities||||||
|Parent contributions||||1,842,418|1,627,647|
|Local authority|funding|||271,419|284,888|
|Other funding||||7,060|18,378|
|||||2,120,897|1,930,913|
|Government
grants||||||
|Coronavirus job|retention||scheme||60,217|
|Business interruption||payment||1,960|3,450|
|||||1,960|63,667|
|Total incoming|resources|||2,166,996|2,038,635|
|EXPENDITURE||||||
|Charitable
activities||||||
|Wages||||1,259,935|1,239,320|
|Social security||||97,836|90,794|
|Pensions||||24,186|31,179|
|Direct costs||||42,947|36,533|
|Catering||||228,764|206,861|
|Housekeeping||||79,493|67,874|
|Premises||||114,446|116,957|
|Maintenance||||57,057|220,448|
|Admin||||20,144|25,010|
|Photocopying||||4,668|3,747|
|General college||||20,901|18,873|
|Office||||11,970|12,478|
|Marketing||||1,548|3,567|
|Bank charges||||120|90|
|Legal &professional||fees||12,064|10,590|
|Carried forward||||1,976,079|2,084,321|
##
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||FOR THE YEAR ENDED 31|DECEMBER 2022||
|---|---|---|---|
|||31.12.22|31.12.21|
|Charitable
activities||||
|Brought forward||1,976,079|2,084,321|
|Auditors'
remuneration|- audit fee|5,640|6,743|
|Auditors'
remuneration|-other services|2,280|2,692|
|Freehold property||40,004|39,421|
|Plant and machinery||12,881|10,794|
|Bank loan interest||5,750|6,808|
|||2,042,634|2,150,779|
|Total resources expended||2,042,634|2,150,779|
|Net income/(expenditure)||124,362|(112,144)|
##