2023-08-31-accounts - ACE Nursery School (Cambridge) Limited

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

CONTENTS:			PAGE;
Directors Report			1-7
Independent Examiners Report
Statement ofFinancial Activities
Balance Sheet			10
Statement ofCash Flows
Notes to the Fmancial Statements			12-19
The following pages do not form	part ofthe Statutory Financial	Statements:
dEdit	Ant		20-21

DIRECTORS:	LTuohy		A	Masefield	RHandley
	SPiotrowski		B	Carod Alonso	A Rees Roberts
	W Kelly		F	Iliescu	V Hallam
	A Walter		R	Oosthuysen	JForman
	JRebling		C	Eccles	M Haaser
HEADTEACHER:	LTuohy
DAY NURSERY MANAGERS;	SPiotrowski		and H Ochalik-Baca
REGISTERED OFFICE:	37Parkside
	Cambridge
	CBI IJE
REGISTRATION NUMBER;	01170191(company limited by guarantee)
REGISTERED CHARITY NUMBER:	271233
INDEPENDENTE~R:	Nigel A Prentis FCA
	For and on behalf of:
	Prentis &	Co LLP
	Chartered	Accountants		Jk Independent	Examiners
	115cMilton		Road
	Cambridge
	CB4 IXE
BANKERS:	Lloyds
	PO Box 1000
	Andover
	BXIILT

As at 31stAugust 2023 we had the foll	owing funds in banks and equi	ties:
Cash			2023	~222
Various accounts shown in note 15ofthe financial statements			6248,452	f217,522
~Eitles			Market	Market
			Value	Value
			2~02	2022
British Land Company Pic Henderson Far East Income Ltd	10,428 shares valued 25,295 shares valued	at at	f32,734 f62,800	f37,044 f71,964
Keystone Investments Trust Pic	32,917 shares valued	at	f67,644	f66,930
Shires Income Pic Henderson High Income Trust Pic F 8t C Investment Trust Pic	20,106 shares valued 39,373 shares valued 11,428 shams valued	at at at	&l5,037 f53,752 f97,024	f54,387 f66,737 $94,169
Total value			%358,991	g391,231

LTuohy		A Walter			F Iliescu
SPiotrowski		JRebling			R Oosthuysen (appomted 10/11/22)
R Humphrey (resigned 10/11/22)		A Masefield			CEccles (appointed	10/11/22)
W Kelly		EKirk (resigned	10/11/22)		RHandley (appointed	10/11/22)
H Beckett (resigned	10/11/22)	JRidge (resigned	10/11/22)		A Rees Roberts (appointed 10/11/22)
H Greene (resigned	10/11/22)	BCarod Alonso			V Hallam (appointed	10/11/22)
T Saigol (resigned	10/11/22)	M Gentsch (resigned		10/11/22)	JForman (appointed	10/11/22)
					M Haaser (appointed	10/11/22)

			Note
				Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
				Funds	Funds	2023	Funds	Funds	2022
INCOME	FROM:
Grants and	donations			18,246	98	18,344	6,615	400	7,015
Charitable	income			742,549		742,549	692,558		692,558
Investment	income			17,700	67	17,767	17,512	I	17,513
				778,495	165	778,660	716,685	401	717,086
EXPENDITURE ON:
Investment	fees			200		200	184		184
Raismg fimds Charitable activities				1,839 729,387	2,540	1,839 731,927	394 692,329	2,540	394 694,869
				731,426	2,540	733,966	692,907	2,540	695,447
Net income	before gains on
investments			10	47,069	(2,375)	44,694	23,778	(2,139)	21,639
Net losses	on investment		12
assets				(51,265)		(51,265)	(60,466)		(60,466)
Net movement in funds				(4,196)	(2,375)	(6,571)	(36,688)	(2,139)	(38,827)
Reconciliation offunds
Total funds	brought	forward		523,108	16,630	539,738	559,796	18,769	578,565
Total fimds	carried	forward		518,912	14,255	533,167	523,108	16,630	539,738

	Notes	2023		2022
FIXEDASSETS
Investments	12		358,991		391,231
Tangible assets	13		6,562		12,185
TOTAL FIXEDASSETS			365,553		403,416
CURRENT ASSETS
Debtors	14	7,699		8,103
Cash at bank and in hand	15	248,452		217,522
TOTAL CURRENT ASSETS		256,151		225,625
LIABILITIES:
Creditors: amounts falling due
within one year	16	88,537		89,303
NET CURRENT ASSETS			167,614		136,322
TOTAL NET ASSETS			533,167		539,738
THE FUNDS OF THE CHARITY:
Unrestricted fund	2]		518,912		523,108
Restricted fund	21		14,255		16,630
			533,167		539,738

STATEMENT OF CASH	FL	OW	S
								Total	Total
								Funds	Funds
								2023	2022
							Note
Cash Flows from Operating		Activities:
Net cash provided by/(used	in) operating			activities			23	32,388	43,785
Cash Flows from Investing		Activities
Dividends and Interest Irom		Investments						17,767	17,513
Investment/dealing costs								(200)	(184)
Purchase ofFixed Assets									(300)
Purchase ofInvestments								(19,025)	(17,599)
Net Cash Provided by Investing			Activities					(1,458)	(570)
Change in cash and cash equivalents in the reporting					period			30,930	43,215
Cash and cash equivalents	at	the	beginning ofthe reporting			period		217,522	174,307
Cash and cash equivalents	at	the	end ofthe reporting		period			248,452	217,522

event ofthe company being wound up, the liability in respect	event ofthe company being wound up, the liability in respect	ofthe guarantee is limited to Kl per m	ember ofthe	charity.
GRANTS AND DONATIONS		Unrestricted	Restricted	Total
		Funds	Funds	2023
CURRENT YEAR
Grants - CCC - Graduate	Leader Fund	1,000		1,000
—CCC -EHCP		15457		15,257
-CCC - DAF		828		828
Donations		1,161		1,259
		18,246	98	18,344
		Unrestricted	Restricted	Total
		Funds	Funds	2022
				f,
PRIOR 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

	INCOME FROM CHA	RIT		ABLE ACTI	VITIES
					Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
					Funds	Funds	2023	Funds	Funds	2022
	Nursery School fees Day Nursery School fees Fundraising				458,376 282,312 1,861		458,376 282,312 1,861	430,869 261,614 75		430,869 261,614 75
					742,549		742,549	692,558		692,558
5.	INVESTMENT INCOME				Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
					Funds	Funds	2023	Funds	Funds	2022
	Bank interest received				1,410	67	1,477	18	1	19
	Dividends received				16,290		16,290	17,494		17,494
					17,700	67	17,767	17,512		17,513
	EXPENDITURE ON RAISING FUNDS				Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
					Funds	Funds	2023	Funds	Funds	2022
							f.
	Fundraising expenses				1,839		1,839	394		394
7.	ANALYSIS OF CHARITABLE				Direct	Support		Direct	Support
	ACTIVITIES				Costs	Costs	Total	Costs	Costs	Total
					(Note 8)	(Note 9)	2023	(Note 8)	(Note 9)	2022
	Charitable activities				603,233	128,694	731,927	576,960	117,909	694,869
8,	DIRECT COSTS				Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
					Funds	Funds	2023	Funds	Funds	2022
									6
	Salaries, national insurance		and pension
	(Note 11)				589,095		589,095	562,523		562,523
	Toys and snacks				12,665		12,665	13,574		13,574
	Trips and activities				1,473		1,473	863		863
					603,233		603,233	576,960		576,960
9.	SUPPORT COSTS				Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
					Funds	Funds	2023	Funds	Funds	2022
	Rent, rates and insurance				62,961		62,961	58,664		58,664
	Light, heat and telephone Repairs and renewals				9,416 13,981		9,416 13,981	8,112 8,766		8,112 8,766
	Household and cleaning				8,735		8,735	9,803		9,803
	Administration, staff training			and welfare	15,693		15,693	17,642		17,642
	Bank charges				230		230	346		346
	Sundry expenses				3,786		3,786	1,885		1,885
	Legal fees				5,309		5,309	4,248		4,248
	Depreciation				3,083	2,540	5,623	3,083	2,540	5,623
	Governance costs
	Independent examiners	fee			2,960		2,960	2,820		2,820
					126,154	2,540	128,694	115,369	2,540	117,909

10.	NET INCOME FORTHE YEAR				2023	2022
					f,
	This is stated after charging:
	Independent Examination fee				2,960	2,820
	Depreciation offixed assets owned by the company				5,623	5,623
	Operating lease rentals				52,071	50,275
11.	STAFF COSTS AND DIRECTORS REMUNERATION
	The total staff costs for the year were;				2023	2022
					6
	Wages and salaries				515,312	492,624
	Employers National Insurance				41,954	40,763
	Employers pension contributions				31,829	29,136
					589,095	562,523
	The average monthly number ofemployees,	including	directors,	during the year was as follows;
					2023	2022
	Direct charitable work				21	20
	Administrative				3	2
					24	22

One employee had employee benefits between 880,000 and f89,999(202 ail&1879,999)	2i one employee had benefits between f	70,000
INVESTMENTS	2023	2022
Market value at 1st September 2022	391,231	434,098
Additions	19,025	17,599
Unrealised losses	(51,265)	(60,466)
Market value at 31stAugust 2023	358,991	391,231
Historical cost at 31stAugust 2023	448,437	429,412
All shares are held in listed equity investments.

13.	TANGIBLE FIXEDASSETS	TANGIBLE FIXEDASSETS			Leasehold	Furniture k.
	CURRENT YEAR			Improvements		Equipment	Total
	COST
	Balance at 1st September 2022 and 31st		August 2023		103,726	21,742	125,468
	DEPRECIATION
	Balance at 1st September 2022				97,097	16,186	113,283
	Charge for the year				4,680	943	5,623
	Balance at 31stAugust 2023				101,777	17,129	118,906
	NET BOOK VALUE AT 31stAugust 2023				1,949	4,613	6,562
	NET BOOKVALUE AT 31stAugust 2022				6,629	5,556	12,185
	TANGIBLE FIXEDASSETS				Leasehold	Furniture k
	PRIOR YEAR			Improvements		Equipment	Total
	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 31stAugust 2022				6,629	5,556	12,185
	NET BOOK VALUE AT 31stAugust 2021				11,309	6,199	17,508
14.	DEBTORS			2023		2022
				Due within	Due after	Due within	Due alter
				one year	one year	one year	one year
						8
	Trade debtors			374		359
	Payments in advance			5,325	2,000	4,464	2,000
	Other debtors					1,280
				5,699	2,000	6,103	2,000
15.	CASH AT BANK AND IN	HAND				2023	2022
							8
	Fee account					87,193	123,570
	Current accounts (including	day nursery	deposits and monies	held in advance		85,642	76,233
	referred to in note 16)
	Bursary account					13,201	13,036
	United Trust Bank					60,638
	Petty cash					229	199
	IG Income account					1,549	4,484
						248,452	217,522

TO THE FINANCIAL STATEMENTS
CREDITORS	2023	2022
	Due within	Due within
	one year	one year
Accruals and deferred income	88,537	89,303

as follows:
				2023	2022
Expiry date: Between one to five years :In more than five years				5,199 732,209	17,677 554,302
				737,408	571,979
ANALYSIS	OF NET ASSETS BETWEEN FUNDS			Restricted
			Restricted	Day
		Unrestricted	Bursary	Nursery
		Fund	Fund	Fund	Total
Investments		358,991			358,991
Tangible fixed assets		5,508		1,054	6,562
Net current	assets	154,413	13,201		167,614
		518,912	13,201	1,054	533,167
				Restricted
			Restricted	Day
		Unrestricted	Bursary	Nursery
PRIOR 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

STATEMENT OF FUNDS	STATEMENT OF FUNDS	At						At
CURRENT YEAR		1st September			Losses	on		31stAugust
		2022	Income	Expenditure	Investments		Transfers	2023
Restricted funds:								g
Bursary Fund		13,036	165					13/01
Day Nursery Fund		3,594		(2,540)				1,054
Total restricted funds		16,630	165	(2,540)				14,255
Unrestricted fimds:
General funds		522,071	777,465	(730,389)	(51,265)		-	517,882
Designated -Leavers' fund		1,037	1,030	(1,037)		-	-	1,030
Total unrestricted	funds	523,108	778,495	(731,426)	(51,265)			518,912
Total funds		539,738	778,660	(733,966)	(51,265)			533,167
		At						At
PRIOR YEAR		1st September			Losses	on		31stAugust
		2021	Income	Expenditure	Investments		Transfers	2022
Restricted fimds:							f
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

ACTIVITIES
				2023	2022
Net expenditure for	the reportmg		period	(6,571)	(38,827)
Adjusted for:
Depreciation charges				5,623	5,623
Dividends and Interest		fiom investments		(17,767)	(17,513)
Investment/dealing	costs			200	184
Unrealised (gain)/toss		in the year		51,265	60,466
(Increase)/decrease	in	debtors		404	(2,181)
(Decrease)/increase	in	creditors		(766)	36,033
				32,388	43,785