2022-08-31-accounts - ACE Nursery School (Cambridge) Limited

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DIRECTORS:			LTuohy		H Greene	H Greene	H Greene	EKirk
			SPiotrowski		T Saigol			J Ridge
			R Humphrey		A Walter			BCared Alonso
			W Kelly		JRebling			M Gentsch
			H Beckett		A Masefield			FIliescu
HEADTEACHER.	'		LTuohy
DAY NURSERY	MANAGERS:		SPiotrowski	and H	Ochalik-Baca
REGISTERED OFFICE;			37 Parkside
			Cambridge
			CBI IJE
REGISTRATION	NUMBER.	'	01170191(company			limited	by guarantee)
REGISTERED CHARITY NUMBER:			271233
INDEPENDENT	EXAMINER;		Nigel A Prentis FCA
			For and on behalf of:
			Prentis &Co	LLP
			Chartered Accountants			&Independent		Examiners
			115cMilton	Road
			Cambridge
			CB4 IXE
BANKERS:			Lloyds
			PO Box 1000
			Andover
			BXI ILT

Cash					2022	2022
Various accounts	shown	in note 15ofthe financial statements			8217,522	8174,307
~Euities					Market	Market
					Value	Value
					2022	2021
British Land Company Pic			8,581 shares valued	at	$37,044	845,557
Henderson Far East Income Ltd			25,295 shares valued	at	671,964	875,885
Keystone Investments Trust Pic			31,130 shares valued	at	666,930	8111,445
Shires Income Pic			20,106 shares valued	at	654,387	f55,794
Henderson High Income		Trust Pic	39,373 shares valued	at	f66,737	&69,985
F&C Investment	Trust	Plc	10,440 shares valued	at	694,169	675,432
Total value					8391,231	%434,098

LTuohy		SRichey (resigned	SRichey (resigned	11/11/21)	11/11/21)	A Masefield
S Piotrowski		T Saigol				EKirk
RHumphrey		A Walter				JRidge (appointed	11/11/21)
S Gold (resigned	11/11/21)	LZhukovskaya	(resigned		11/11/21)	BCared Alonso (appointed		11/11/21)
W Kelly		J Sweeney (resigned		11/11/21)		M Gentsch (appointed 11/I		I/21)
H Beckett		JRebling				FIliescu (appointed	11/11/21)
H Greene

				Note
					Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
					Funds	Funds	2022	Funds	Funds	2021
										8
INCOME	FROM:
Grants and	donations				6,615	400	7,015	3,995	700	4,695
Charitable	income				692,558		692,558	622,359		622,359
Investment	income				17,512		17,513	19,300		19,301
					716,685	401	717,086	645,654	701	646,355
EXPENDITURE		ON:
Investment	fees				]84		184	186		186
Raising funds					394		394
Charitable	activities				692,329	2,540	694,869	637,890	3,200	641,090
					692,907	2,540	695,447	638,076	3,200	641,276
Net income	before	gains on
investments				10	23,778	(2,139)	21,639	7,578	(2,499)	5,079
Net gains/(losses)		on investment		12
assets					(60,466)		(60,466)	90,000	-	90,000
Net movement in funds					(36,688)	(2,]39)	(38,827)	97,578	(2,499)	95,079
Reconciliation of		funds
Total funds	brought		forward		559,796	18,769	578,565	462,218	21,268	483,486
Total funds	carried	forward			523,108	16,630	539,738	559,796	18,769	578,565

			Notes	2022		2021
				0
FIXED ASSf:TS
Investnients			12		391,231		434,098
Tnngib le ttssets			13		12,185		17,508
'I'OTAI, I-'IXED ASSETS					403,416		451,606i
CURRENT ASSETS
Debtors			14	8,103		5,922
Cash at bank and		in hand	15	217,522		174,307
'I'OTAL CURRENT ASSE'I'S				225,625		180,229
LIABILITIES:
Creditors; amounts		falling due
wnhin	one year		16	89,303		53,270
NET CURRENT		ASSETS			136,322		126,959
TOTAI. NET AF	SETS				539,738		578,565
THE FUNDS OF		THE CIIARITY:
Unresnictcd fund			21		523 108		559,796
Restiicted hmd			21		16,630		18,769
					539,738		578,565

										Total	Total
										Funds	Funds
										2022	2021
									Note
Cash Flows from	Operating		Activities:
Net cash provided	by/(used	in) operating			activities				23	43,785	7,099
Cash Flows from	Investing		Activities
Dividends and Interest fiom			Investments							17,513	19,301
Investment/dealing	costs									(184)	(186)
Purchase ofFixed Assets										(300)	(2,913)
Purchase ofInvestments										(17,599)	(20,968)
Net Cash Provided	by Investing			Activities						(570)	(4,766)
Change in cash and	cash equivalents in the reporting						period			43,215	2,333
Cash and cash equivalents		at	the	beginning		ofthe reporting		period		174,307	171,974
Cash and cash equivalents		at	the	end ofthe		reporting	period			217,522	]74,307

GRANTS AND DONATIONS	GRANTS AND DONATIONS	GRANTS AND DONATIONS	Unrestricted	Restricted	Total
			Funds	Funds	2022
			8
CURRENT YEAR
Grants - CCC - Graduate		Leader Fund	1,650		1,650
- CCC -SENIF			2,951		2,951
- CCC -DAF			800		800
Donations			1,214	400	1,614
			6,615	400	7,015
			Unrestricted	Restricted	Total
			Funds	Funds	2021
PRIOR YEAR
Grants - CCC - Graduate		Leader Fund	1,650		1,650
- Job Retention	Scheme grant		523		523
Donations			1,822	700	2,522
			3,995	700	4,695

	INCOME FROM CH	ARIT	ABLE ACT	I	VITIES	VITIES
					Unrestricted		Restricted	Total	Unrestricted	Restricted	Total
						Funds	Funds	2022	Funds	Funds	2021
								6
	Nursery School fees					430,869		430,869	364,823		364,823
	Day Nursery School fees					261,614		261,614	257,507		257,507
	Fundraising					75		75	29		29
						692,558		692,558	622,359		622,359
5.	INVESTMENT INCOME				Unrestricted		Restricted	Total	Unrestricted	Restricted	Total
						Funds	Funds	2022	Funds	Funds	2021
										6
	Bank interest received					18	1	19	16	1	17
	Dividends received					17,494		17,494	19,284		19,284
						17,512		17,513	19,300		19,301
	EXPENDITURE ON RAISING FUNDS				Unrestricted		Restricted	Total	Unrestricted	Restricted	Total
						Funds	Funds	2022	Funds	Funds	2021
								6		6
	Fundraising expenses					394		394
7.	ANALYSIS OF CHARITABLE					Direct	Support		Direct	Support
	ACTIVITIES					Costs	Costs	Total	Costs	Costs	Total
						(Note 8)	(Note 9)	2022	(Note 8)	(Note 9)	2021
	Charitable activities					576,960	1]7,909	694,869	534,820	106,270	641,090
	DIRECT COSTS				Unrestricted		Restricted	Total	Unrestricted	Restricted	Total
						Funds	Funds	2022	Funds	Funds	2021
	Salaries, national insurance	and	pension (Note	1	I)	562,523		562,523	521,225		521,225
	Toys and snacks					13,574		13,574	12,865		12,865
	Trips and activities					863		863	730		730
						576,960		576,960	534,820		534,820
9.	SUPPORT COSTS				Unrestricted		Restricted	Total	Unrestricted	Restricted	Total
						Funds	Funds	2022	Funds	Funds	2021
	Rent, rates and insurance					58,664		58,664	56,207		56,207
	Light, heat and telephone					8,112		8,112	6,740		6,740
	Repairs and renewals					8,766		8,766	6,701		6,701
	Household and cleaning					9,803		9,803	10,300		10,300
	Administration, staff training		and welfare			17,642		17,642	15,016		15,016
	Bank charges					346		346	320		320
	Sundry expenses					1,885		1,885	1,292		],292
	Legal fees					4,248		4,248	720		720
	Depreciation					3,083	2,540	5,623	3,342	3,200	6,542
	Governance costs
	Independent examiners	fee				2,820		2,820	2,432		2,432
						115,369	2,540	117,909	103,070	3,200	106,270

NET INCOME FOR THE YEAR					2022	21)21
This is stated atter charging:
Independent Examination fee					2,820	2,432
Depreciation offixed assets owned by the company					5,623	6,542
Operating lease rentals					50,275	48,478
STAFF COSTS AND DIRECTORS REMUNERATION
The total staff costs for the year were;					2022	2021
					f,	8
Wages and salaries					492,624	457,579
Employers National Insurance					40,763	35,463
Employers pension contributions					29,136	28,183
					562,523	521,225
The average monthly number ofemployees,	including	directors,	during	the year was as follows:
					2022	2021
Direct charitable work					20	20
Administrative					2	2
					22	22

INVESTMENTS	2022	2021
	f
Market value at 1st September 2021	434,098	323,130
Additions	17,599	20,968
Unrealised gains/(losses)	(60,466)	90,000
Market value at 31st August 2022	391,231	434,098
Historical cost at 31st August 2022	429,412	411,813

	2022	2021
British Land Company Pic	9.47'/o	10.50'/o
Henderson Far East Income Ltd	18.39o/o	17.48'/o
Keystone Investment Trust Pic	17.11/o	25.67'lo
Henderson High Income Trust Pic	17.06 /o	12.85/o
Shires Income Pic	13.90'lo	16.12'/o
F&C Investment Trust Pic	24 07o/	17.3 8'/o
	100.00/o	100.00/o

13.	TANGIBLE FIXEDASSETS	TANGIBLE FIXEDASSETS					Leasehold	Furniture &
	CURRENT YEAR						Improvements	Equipment	Total
								f
	COST
	Balance at 1st September	2021					103,726	21,442	125,168
	Additions							300	300
	Balance at 31stAugust 2022						103,726	21,742	125,468
	DEPRECIATION
	Balance at 1st September	2021					92,417	15,243	107,660
	Charge for the year						4,680	943	5,623
	Balance at 31stAugust 2022						97,097	16,186	113,283
	NET BOOK VALUE AT	31st August	2022				6,629	5,556	12,185
	NET BOOK VALUE AT	31stAugust	2021				11,309	6,199	17,508
	TANGIBLE FIXEDASSETS						Leasehold	Furniture &
	PRIOR YEAR						Improvements	Equipment	Total
							f,		f
	COST
	Balance at 1st September	2020					103,726	18,529	122,255
	Additions							2,913	2,913
	Balance at 31stAugust 2021						103,726	21,442	125,168
	DEPRECIATION
	Balance at 1st September	2020					86,850	14,268	101,118
	Charge for the year						5,567	975	6,542
	Balance at 31stAugust 2021						92,417	15,243	107,660
	NET BOOK VALUE AT	31stAugust	2021				11,309	6,199	17,508
	NET BOOK VALUE AT	31stAugust	2020				16,876	4,261	21,137
14.	DEBTORS					2022		2021
					Due	within	Due after	Due within	Due atter
					one year		one year	one year	one year
	Trade debtors					359		438
	Payments in advance					4,464	2,000	3,484	2,000
	Other debtors					1,280
						6,103	2,000	3,922	2,000
15.	CASH AT BANK AND IN~							2022	2021
	Fee account							123,570	106,055
	Current accounts (including day nursery		deposits	and monies held	in advance			76,233	50,683
	referred to in note 16)
	Bursary account							13,036	]2,635
	Petty cash							199	161
	IG Income account							4,484	4,773
								217,522	174,307

CREDITORS	CREDITORS		2022	2021
			Due within	Due within
			one year	one year
				E
Accruals	and deferred	income	89,303	53,270

As at 31stA as follows:	ugust 2022 the charity had total commitments unde	r non cancellable oper	ating leases o	n land and bu	ildings
				2022	2021
Expiry date: Between one to five years				17,677	30,155
	:In more than five years			554,302	592,099
				571,979	622,254
ANALYSIS OF NET ASSETSBETWEEN FUNDS				Restricted
			Restricted	Day
		Unrestricted	Bursary	Nursery
CURRENT	YEAR	Fund	Fund	Fund	Total
Investments		391,231			391,231
Tangible fixed assets		8,591		3,594	12,185
Net current	assets	123,286	13,036		136,322
		523,108	13,036	3,594	539,738
				Restricted
			Restricted	Day
		Unrestricted	Bursary	Nursery
PRIOR YEAR		Fund	Fund	Fund	Total
Investments		434,098			434,098
Tangible fixed assets		11,374		6,134	17,508
Net current	assets	114,324	12,635		126,959
		559,796	12,635	6,134	578,565

STATEMENT OF FUNDS	STATEMENT OF FUNDS	STATEMENT OF FUNDS	At		Gains/(losses)	Gains/(losses)		At
CURRENT YEAR			1st September			on		31st August
			2021	Income	Expenditure	Investments	Transfers	2022
Restricted funds:								8
Bursary Fund			12,635	401				13,036
Day Nursery Fund			6,134		(2,540)			3,594
Total restricted funds			18,769	401	(2,540)			16,630
Unrestricted funds:
General funds			558,074	715,471	(691,008)	(60,466)		522,071
Designated - Leavers'		fund	1,722	1,214	(1,899)			1,037
Total unrestricted	funds		559,796	716,685	(692,907)	(60,466)		523,108
Total funds			578,565	717,086	(695,447)	(60,466)		539,738
			At					At
PRIOR YEAR			1st September			Losses on		31stAugust
			2020	Income	Expenditure	Investments	Transfers	2021
Restricted funds:							8
Bursary Fund			11,934	701				12,635
Day Nursery Fund			9,334		(3,200)			6,134
Total restricted funds			21,268	701	(3,200)			18,769
Unrestricted funds:
General funds			460,888	643,932	(636,746)	90,000		558,074
Designated - Leavers'		fund	1,330	1,722	(1,330)			1,722
Total unrestricted	funds		462,218	645,654	(638,076)	90,000		559,796
Total funds			483,486	646,355	(641,276)	90,000		578,565

RECONCILIATIO	N	O	F INCOMING	RESOURCES TO NET CASH	FLOW FROM OPERATING
ACTIVITIES					2022	2021
					8
Net income/(expenditure)			for the reporting	period	(38,827)	95,079
Adjusted for:
Depreciation charges					5,623	6,542
Dividends and Interest		from investments			(17,513)	(19,301)
Investment/dealing	costs				184	186
Unrealised (gain)/loss		in	the year		60,466	(90,000)
(Increase)/decrease	in	debtors			(2,181)	13,257
(Decrease)/increase	in	creditors			36,033	1,336
					43,785	7,099