## **BLACKHEATH MONTESSORI CENTRE LTD** (A company limited by guarantee) ## **UNAUDITED REPORT AND FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 MARCH 2023** ## **REGISTERED NUMBER 01622834** ## **CHARITY NUMBER 285105** Brendan P Byrne & Co Ltd 12 Old Bexley Lane Bexley Kent DA5 2BN Tel; 01322 555530 ## **BLACKHEATH MONTESSORI CENTRE LTD REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **CONTENTS** Pages 2 to 5 Directors' Report 6 Independent Examiners' Report 7 Statement of Financial Activities 8 Statement of Financial Position (Balance Sheet) 9 to 12 Notes to the Financial Statements The following do not form part of the statutory financial statements: 13 to 15 Profit and Loss Account Summaries P a g e | **1** **BLACKHEATH MONTESSORI CENTRE LTD DIRECTORS' REPORT FOR THE YEAR ENDED 31 MARCH 2023** The directors are pleased to present their annual report together with the financial statements of the charity for the year ended 31 March 2023 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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). ## **PURPOSE AND ACTIVITIES** The Blackheath Montessori Centre ("Centre") was established with the purpose of providing all year round educational day care for children aged between two and five years based on the Montessori system. The Centre provides a curriculum encompassing both the Montessori Method and the Early Years Foundation Stage (the recommended Ofsted regulated curriculum for nursery schools) – following an inspection in March 2020, the nursery has been graded as Good. Together they provide children with an all-round opportunity to develop a wide range of skills. The main aim of a Montessori education is to cultivate and stimulate a child’s natural curiosity and desire to learn. All children at the Blackheath Montessori Centre are openly encouraged by teachers to learn and experience through their own motivation and interactions. The nursery has its own garden, tucked away at the rear of the building, providing a safe haven for the children to play in all weathers. Additional activities are also offered which include dance, music, sport and French. The Centre encourages the children to adopt a healthy lifestyle so meals are prepared on site by the Centre’s own cook, and daily menus are displayed on the notice board for parent/carer’s information. Menus are varied according to the season, using local suppliers for our fresh meat, fruit and vegetables. The Centre follows advice given by The Children’s Food Trust, the NDNA, and London Borough of Lewisham to ensure the healthiest and most appropriate food for our children, reflecting the cultures of children attending our nursery, as well as from other parts of the world. The Centre opens from 8.00am to 6.00pm, Monday to Friday, for forty eight weeks of the year. There is one intake each year in September, when we welcome children into the Centre who are aged two and nine months or older. The Centre caters for up to forty children attending on either a full time or a part time basis. The children are divided into three classes of twelve to fourteen per class, and there are a minimum of two teachers for each class. Each class enjoys imaginative play, expressive arts, construction, story time, messy games, the garden, cooking, rest and sleep time, ball pool, and one to one time with teachers. ## **FINANCIAL REVIEW** The Centre is principally funded by the fees charged to parents based on a range of session options. Other income is generated from registration fees and events. Regular fundraising activities happen throughout the year to enable projects to be undertaken. During 2021-2022 a complete refurbishment of the children’s toilets was carried out. Plans remain in place for the refurbishment works in the Lower Ground Floor area to recommence, however the Board decided that all refurbishment works should continue to be put on hold until the financial situation improves, post pandemic, as the intakes for both 2021-2022, and 2022-2023 were significantly lower than pre-pandemic years. This was due to a change in childcare requirements by families, subsequent to the pandemic, rather than a specific issue to the nursery. The Local Authority advised that the Early Years sector as a whole and locally had a significant downturn in requirement for places. The directors consider the results for the year to be as expected in the current climate, they show net outgoing resources were £18,500 (31 March 2022 net incoming resources were £6,671). The directors believe they can continue to achieve their objectives based on the reserves in place, and the plans for improvement which should enhance income in the future. The waiting lists for 2023-2024 have 28 children on the secure list and 38 on the reserve list, a reasonable number. There are no guaranteed places left for 2024, and families are registering on the reserve list for that intake. There are already families registered for 2025 and 2026, and the level of enquiries about registration remains consistent. Uptake of places in September 2022 was lower than 2021, and was concerning. However, by January 2023, new children were accepted into nursery, and increased the numbers attending by 25%. The interest in places for September 2023 greatly increased from the previous year, and initial indications of place acceptances are for a return to more pre-pandemic levels of children enrolled. The Board will continue to consider the option of increasing capacity at the nursery through completion of building works in the basement. The Board are taking into account the cost of this work, which would potentially include financing costs as well as construction costs, and whether the increased revenue from up to a further 16-20 places would bring. The Board are also considering how an increased capacity would affect the nursery as a whole, after having run for so long as a 3640 place nursery. P a g e | **2** **BLACKHEATH MONTESSORI CENTRE LTD DIRECTORS' REPORT, CONTINUED FOR THE YEAR ENDED 31 MARCH 2023** ## **DIRECTORS, STRUCTURE, GOVERNANCE AND MANAGEMENT** Blackheath Montessori Centre Ltd is a company limited by guarantee governed by its Memorandum and Articles of Association dated 27 June 1982. It is registered as a charity with the Charity Commission. The directors who served during the year were: L J Atkinson V Jerome, who also acted as the Company Secretary and Office Manager, with responsibility for payroll & other administrative tasks, and C C Combe Directors have been appointed under the terms of the Memorandum and Articles of Association to oversee the management of the Centre and to ensure that the Centre remains competitive in the local nursery sector. Directors are recruited from the current and past parent base. All prospective nominees are invited to attend a board meeting when they are asked to provide details of their background and skills. The board undertakes an evaluation of the nominee and approves any appointment. The daily operational management of the Centre is the responsibility of the Head of Centre, Jane Skillen. The directors of the Centre meet monthly with Jane. Formal minutes are written and distributed after each meeting. The Centre, through its close relationship with parents, both current and past, has been able to draw on a wealth of professional support which is most important to ensure cost effective management of the Centre. The Head, with the assistance of the Deputy Head and Office Manager review the Centre’s policies annually, and amend and update as appropriate. Advice on policies is sought from the Local Authority, and the Head ensures that the policies meet Ofsted’s requirements at all times. Over 35 policies are in place to ensure the safeguarding of the children and families attending the Centre, as well as the staff working at the Centre. The Centre also has policies that set out the Centre’s commitment to counter discrimination of any kind and to promote positive outcomes for all families attending the Centre. The Board and the Head review staff salaries annually, and increases are awarded based on the budget arising from planned fee increases and staff merit. The Centre contributes to a workplace pension scheme for staff who have opted in, and follows current Government guidelines on contribution levels. The staff have a generous holiday allowance, dependent on length of service, along with paid absence for sickness. Staff turnover is generally low, and many members of staff have worked at the Centre for over fifteen years. The Centre invests in CPD for staff, as well statutory training requirements such as Safeguarding and First Aid. ## **RISKS AND UNCERTAINTIES** The Directors actively review the major risks that the Centre faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of financial systems will provide sufficient resources in the event of adverse conditions. Following the Coronavirus pandemic, the Directors continue to work closely with the Head of Centre and Office Manager to monitor the financial stability. Increased focus is being placed on cleaning, PPE, risk assessments and policies at the nursery, as well as financial issues, in order to ensure continuity of provision of service, and income. The Directors ensure that the nursery is fully insured to meet legislation and Ofsted requirements. Policies are in place to minimise risk to the Centre and the families that attend. The Directors review other situations that could cause risk to the Centre’s financial stability. For example, the introduction of 30 hours funded childcare for eligible families could have potentially caused financial harm to the Centre. However, the Board reviewed the situation and liaised with the Local Authority, and found a way to introduce the additional funding for parents, without causing a loss of income to the nursery. As more parents were enquiring about the additional funded hours, the Board considered that not offering the additional funding could reduce applicants for places. The Head ensures she keeps abreast of other settings locally by participating in Local Authority networking meetings and training sessions. This allows the Board to be aware of the likelihood of reduced enrolments, which could incur a downturn in income for the Centre. P a g e | **3** **BLACKHEATH MONTESSORI CENTRE LTD DIRECTORS' REPORT, CONTINUED FOR THE YEAR ENDED 31 MARCH 2023** ## **PLANS FOR FUTURE PERIODS** Due to the downturn in enrolments in 2022-2023, the Board agreed that only essential repairs should be carried out, and that the plans for the refurbishment of the Lower Ground Floor be put on hold, in order not to deplete income and reserves. The Board’s opinion was that funds had been invested carefully over the preceding years in the gradual refurbishment of the classrooms, kitchen and bathroom, and in light of a reduction in applications for places, it was not appropriate to expend funds on a refurbishment project to increase spaces. The Board are also considering the difficulties faced by the Early Years Sector in the current climate, particularly regarding recruitment of staff with the appropriate levels of qualifications. The Board expects to expend income on temporary staff of a high level to ensure that ratios are met at all times, in light of two members of staff leaving (one to a promoted position, one to resume their own business). Recruitment will be a focus during the coming financial year. The Board are continuing to invest in staff training and wellbeing of the remaining staff, as the Board recognises they are key to the success of the nursery. The Board continues to review the costs to the nursery, and the level of income required to ensure the nursery remains financially viable. Fee increases are reviewed carefully, and this financial year’s level of outgoing resources will form the basis of analysis for future fee increases. The Board are also considering the impact of the Government’s and Local Authority’s rules around providing funded hours. The stringent rules for offering funded sessions and how parents are charged for consumables concerns the Board, as should parents opt to not pay the consumables charge, it will have a detrimental financial effect on the nursery. The Board has agreed that a very limited number of funded only places can be offered, and parents wishing to apply for one of these places should contact the Board to discuss the matter. The Board are also considering restructuring the fee profile of the nursery, to mitigate any losses of income due to parents opting out of the consumables charge. The Board will be focussing on all areas where costs have increased significantly, and looking to reduce these costs in future years, where possible. ## **RESERVES POLICY** The directors are of the opinion that the present level of resources together with the level of designated reserves is adequate to support the continuation of the Centre's activities for the medium term, even in light of a predicted downturn in children attending. Any renovation works are considered carefully, and prioritised by importance and urgency. In recent years it was necessary to carry out costly repairs to the roof, as leakages were causing damage elsewhere in the building. In previous years funds had not been available to carry out works to a high standard, causing additional costs in later years. The Board carefully considers each project to ensure that funds spent will resolve maintenance issues for a number of years, rather than being ‘quick fixes’, and to ensure the long term affordability of the project. The Office Manager reports at Board Meetings of any potential bad debtors, and advice is sought on how to recoup unpaid fees. The Board’s policy is to take legal action to recoup monies owed. The Board finds that bad debts do not occur regularly, and any potential bad debtors are reviewed and managed by the Office Manager. Any expenditure over £1,000 is discussed at Board Meetings and approval sought for the expenditure. Management Accounts are reviewed termly by the Office Manager to give the Board an update on income and expenditure. Previous losses have occurred due to the pressing nature of repairs and maintenance required. The Board fully assessed the cost impact of the repairs and agreed that the requirement to carry out repairs and maintenance necessitated the spending of reserves. P a g e | **4** BL4CKHEATH MONTESSORI CENTRE LTD DIRECTORS. REPORT CONTINUED FOR THEYEAR ENDED 31 MARCH 2023 REFERENCEAND ADMINISTRATNe DETAILS REGISTERED OFFIC&. Independents Read B18ckh&alh London SE3 COMPANY NUMBER.. 01622834 CHARITY NUMBER.. 285IOS BANKERS.. N8iwest Bank rA¢ ACCOUNTANTS.. Brendan P Byrn8 a Co Ltd. Bexkny DIRECTORS RESPONSIBIL￿lEs The di￿¢{¢r$ aro responsible for p￿paring an •nnu¥l report •r#J finar￿￿1 $t•tern￿ts ui •¢¢c*tlan¢• wlth •ppllcabl8 law and United Kingdorn Accounting Slandard5 (United Kingdom GeneTrlty Accepted Accounting Practice). Company law requires the Ilirectors lo prepare finandal staternenls for each year which 9ive a Iwe and lair view of the 8tats of affairs of the charilabb cornpany and of Ihe I￿1￿￿1n9 resouros and appfjcab'on of r850urt85. In¢lL￿Ing th• In¢omo ar enditur? for Ihal p￿r￿d. In preparin9 ￿ financHI $lalem?nts. thg dwectors are ¢0: Select Sullable ae¢ounlin9 Pglicvas ?nd then appty them con5￿n￿. ob$eNe the Th*lhods and principles N) the Chanbès SCILD.. makejvdgements and e$b"m8te$ that are reasonab￿ and pnwJ8n¢ $lale wh8lh&r appI￿ab￿ UK accounting slaTrJards have been loknwed, S￿48cl io any mat•rt departures di$¢losed an¢J ¢xplained in the fin8ncio1 statements., prepa￿ the financ￿1 statements on the gohg concern ba$ls th¥pproprfot¢ to Presurne Ihai ¢harty will eoThiinu& b) b￿rIe$s. The 45reclors Ore responsthk for keepSThJ proper aecounting records that di5ckJ5e with reason8bk8 Bccuracy al any lrn8 the flnanckil po$ilon olthe charty an¢J to enabb them toeThswe that the ftn8nd)I ststements ￿Mpty Wth the Companies Acl 2006. They are a￿0 re5ponsibl8 forsafeguardiNJ tht $ss•tsof Ihè tharity and th8 group and hene• taklng rnasenabl 8tsps lor Ihe prevention and detsctlon of fvawl and other Irregulorits& The dlrectors re$pon$blg f¢r the maknten8ncg ond Integrity of the corporate and finandBI informÈlitin intbjded on th• th￿￿bI* compan￿$ w•tsit•. STATEMENT AS TO DISCLOSURE TO OUR ACCOUNTANTS In 50 far a5 tho diroctorn ar* aw•r• al Ihe timo of ¥pprowng ¢yJi •nnu81 ieF*)It Ihere is no rekvanl Snlornwtion, being inlorn8t*Jn needed by Ihe ar￿Untrant in conn8c*bJn wyth preparirvj their repor( of whlch Ihe accountant is unaware, and Ihe directors. haviNJ made enquiries ol felbw dwe¢tors and the accountant. that they ought to have Ind￿IduallY laken, ha¥e eath taken all steps Iha¢helshe is obliged to lake as a dlrector in orderto rnaka th8rnsefves aware ofany irtlomwtion arKI to 8Stabiish that Ihe aceountant ts aware of that Inlomiation. Thls ￿pOrtw83 approved by the board ￿ 1311112C£3 aTrJ sWed th*rbeha¥ Page 15 ## **INDEPENDENT EXAMINERS' REPORT ON THE UNAUDITED FINANCIAL STATEMENTS TO THE DIRECTORS OF BLACKHEATH MONTESSORI CENTRE LTD FOR THE YEAR ENDED 31 MARCH 2023** In accordance with the engagement letter dated 21 October 2008, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company which comprise the Statement of Financial Activities, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us. This report is made to the Company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's Board of Directors, as a body, for our work or for this report. You have acknowledged on the Balance Sheet for the year ended 31 March 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year. We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements. Brendan P Byrne & Co Ltd 12 Old Bexley Lane Bexley Kent DA5 2BN P a g e | **6** **BLACKHEATH MONTESSORI CENTRE LTD STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** |**Incoming Resources**
Activities for generating funds
Fees Receivable
Voluntary income
Fundraising
Grants received
Other income
**Resources Expended**
Charitable activities
Educational
services
Cost of generating voluntary income
Fundraising & publicity
Management & administration
**Net (outgoing) / incoming resources before**
**transfers**
Transfers
**Net (outgoing) / incoming resources for the year**
Total funds brought forward
**Total funds carried forward**|The
**General**
**Restricted**
**Fund**
**Fund**
**2023**
**2022**
**£**
**£**
548,983
_-_
548,983
529,757
_-_
3,931
3,931
1,549
-
2,929
_-_
2,929
39,984
551,912
3,931
555,843
571,290
488,281
2,822
491,103
484,667
-
_-_
-
_-_
83,240
_-_
83,240
79,952
571,521
2,822
574,343
564,619
(19,609)
1,109
(18,500)
6,671
- -
- -
(19,609)
1,109
(18,500)
6,671
390,598
55,148
445,746
439,075
370,989
56,257
427,246
445,746| |---|---| company made no recognised gains or losses other than those reported in the income and expenditure account. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing operations. P a g e | **7** The notes on pages 9-13 form part of these financial statements BLACKHEATH MONTESSORI CENTRE LTD STATEMENT OF FINANCIAL POSITION BALANCE SHE AT 31 MARCH 2023 2023 2022 FIXED ASSETS Tangible assets 315,359 338,196 URRENT ASSErs Debtors 1.B5T 227,692 229.549 1,268 234,605 235.873 Ca$h at bank h•d cRED￿ORS. Amounts falllng duo wlthfjn on•y•ar 10 3.8631 {67.246) NET CURRENT ASSETS 1558B6 168 627 TOTALASSETS LESS CURRENT LI￿￿tIEs 471.24S 506,823 61,077 CREOITORS: Amoun1¥ fallln9du8 after morèthan on•y NET ASSETS 43.999 £ 427,246 £445,746 THE FUNDS OFTHE CHARITY Reslric18d incomefiJTras 14 56.257 370.989 55.148 390,598 Unre51rict8d sncorne fund8 TOTALCHARITY FUNDS £ 427 246 £445 746 In approvlng th888 finartlal stat•m•ntsosdlrnclors oltr*¢￿PanY ￿h8￿¢bY confirm Ihe louowkng.. For the yearin qu•$ltin tho ￿MpanY￿a$ ¢nJUgd urthr8eckn477 oftho Cwon5os Act%)06 relatsng to srnall companies. Directors, reypcnsibilil￿S. 11 The members have not requlr•d thtscompany tocètaln ¥n ¥￿SItI)ri1$ o￿nts forth• ￿811ft quaslen In 8ccorOance with section 476, 21 Th*¢1￿¢1¢f$ acknovtsdge thelr responskn'lilies fortA)mpty#)gwith the re4uir¢ments of theklwlth r¢&pg¢lto acceunling records and Ihe preparat￿n of ?￿oUn1¥. Th8s8 accounts have proparnd in accordan￿withthepr￿wffj￿• appl￿bkI9 wryanl88 Bubiadto th Small companies, regi￿ and Ihe Chari￿$ Aei 2011. Theaccounts wer• approv•d by th• I￿rdOld11￿tO1¥ 131iilioL3 Page 18 The notes on pages &13 fom part of these finanoal stthrients **BLACKHEATH MONTESSORI CENTRE LTD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023** ## **1. ACCOUNTING POLICIES** ## **1a 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. Blackheath Montessori Centre Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). ## **1b Tangible fixed assets** Land and building are shown at original historical cost, further depreciation is not considered necessary due to the maintenance and upkeep of the building undertaken. Other fixed assets are shown at cost less depreciation provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life by the reducing balance method. ||%| |---|---| |Plant and equipment|33| |Fixtures and fittings|25| |Equipment|25| ## **1c Pensions** The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in the year. ## **1d Income** Income comprises the value of sales of educational day care for children, goods and services in the normal course of business based on invoices raised each school term. The company is not required to be registered for VAT. Deposits taken are held as liabilities until they are refunded. ## **1e Interest** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. ## **1f Funds** Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the directors have decided at their discretion to set aside to use for a specific purpose. ## **1g Expenditure** Expenditure, includes VAT if applicable, and is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. ## **1h Financial Instruments** The charity only has a bank mortgage which is measured at amortised cost using the effective interest method. ## **2. LEGAL STATUS** The Centre is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. P a g e | **9** **BLACKHEATH MONTESSORI CENTRE LTD NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **3. NET OPERATING EXPENSES** |Net operating expenses:
Distribution costs
Administrative expenses
Depreciation
**4.**
**OPERATING (LOSS)/PROFIT**
(Loss)/Profit on ordinary activities is stated
after charging:
Depreciation and amortisation of tangible assets: owned
Pension costs
**5.**
**INTEREST RECEIVABLE AND SIMILAR INCOME**
Bank interest receivable
Commissions
Statutory sick pay
**6.**
**INTEREST PAYABLE AND SIMILAR CHARGES**
On bank loans, overdrafts and other loans
Repayable within five years, by instalments
**7.**
**STAFF COSTS**
Salaries and wages
Temporary and agency workers
Social security costs
Pension costs|**2023**
**_2022_**
**£**
**_£_**
(229)
_385_
525,418
_509,956_
24,539
_33,835_| |---|---| ||£ 549,728
_£ 544,176_| ||**2023**
**_2022_**
**£**
**_£_**
24,539
_33,835_
9,255
_8,433_| ||**2023**
**_2022_**
**£**
**_£_**
1,752
_41_
88
_150_
-
_2,059_| ||£ 1,840
_£ 201_| ||**2023**
**_2022_**
**£**
**_£_**
1,544
_1,231 _| ||£ 1,544
_£ 1,231_| ||**2023**
**_2022_**
**£**
**_£_**
412,027
_395,579_
2,470
_15,052_
34,310
_31,258_
9,255
_8,433_| ||£ 458,062
_£ 450,322_| Average monthly headcount was 16 staff (2022: 18 staff). No employees had employee benefits in excess of £60,000 None of the personnel costs are attributable as costs on restricted activities. P a g e | **10** **BLACKHEATH MONTESSORI CENTRE LTD NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **8. TANGIBLE FIXED ASSETS** |**Other**
**Land &**
**Tangible**
**Buildings**
**Assets**
**£**
**£**
**Cost**
At 1 April 2022
274,341
274,264
Additions
_-_
1,702
At 31 March 2023
274,341
275,966
**Depreciation**
At 1 April 2022
23,014
187,395
For the year
_-_
24,539
At 31 March 2023
23,014
211,934
**Net Book Amounts**
At 31 March 2023
£251,327
£64,032
_At 31 March 2022_
_£251,327_
_£86,869_
**9.**
**DEBTORS**
Trade debtors and prepayments
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Accruals and sundry creditors
Other taxes and social security
Other creditors and deferred income
**11.**
**CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR**
Bank loans and overdrafts
**12.**
**TAXATION**|**Other**
**Land &**
**Tangible**
**Buildings**
**Assets**
**£**
**£**
274,341
274,264
_-_
1,702|**Total**
**£**
548,605
1,702
550,307
210,409
24,539
234,948
£315,359
_£338,196_
**2023**
**_2022_**
**£**
**_£_**
1,857
_1,268_| |---|---|---| ||274,341
275,966|| ||23,014
187,395
_-_
24,539|| ||23,014
211,934|| ||£251,327
£64,032|| ||_£251,327_
_£86,869_|| |||£ 1,741
_£ 1,268_| |||**2023**
**_2022_**
**£**
**_£_**
6,286
_4,349_
6,913
_5,936_
11,136
_11,211_
49,328
_45,750_| |||£ 73,663
_£ 67,246_| |||**2023**
**_2022_**
**£**
**_£_**
43,999
61,077| |||£ 43,999
_£ 61,077_| |||| The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 as any excesses of income over expenditure, if made, are applied to its charitable objects. P a g e | **11** **BLACKHEATH MONTESSORI CENTRE LTD NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **13. RESOURCES EXPENDED** Analysis of expenditure on charitable activities: |**2023**
**£**
**Educational activities**
Staff costs*
414,224
Training & education
4,050
Premises*
29,227
Catering
12,656
Equipment & materials
3,966
Office and other costs*
2,073
Depreciation*
22,085
£488,281
**Cost of obtaining funds**
-
**Management and administration**
of which Governance is £1,260 (2022:
Staff costs*
46,025
Other costs:
Premises*
3,247
Office and other costs*
230
Hire costs
642
Computer costs
10,093
Legal & professional
2,793
Bank charges
477
Insurance
17,536
Depreciation*
2,454
Bad debts
(258)
83,240
£571,521|**_2022_**
**_£_**
_405,290_
_5,600_
_23,315_
_12,555_
_5,495_
_1,317_
_30,452_| |---|---| ||_£484,024_| ||| ||_-_| ||£1,260)
_45,032_
_2,591_
_146_
_642_
_9,383_
_3,515_
_499_
_14,499_
_3,383_
_385_| ||_80,075_| ||_£564,099_| The charity initially identifies the costs of its activities into either educational or management categories, those costs that that cover both activities* are then apportioned based on an approximation of time spent. Governance costs are then identified from the management activities undertaken. All repairs were met from unrestricted funds. The following pages do not form part of the Company's Statutory Financial Statements and are prepared for the information of the Directors only. P a g e | **12** ## **BLACKHEATH MONTESSORI CENTRE LTD TRADING AND PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023** |**Sales**
Cost of sales:
Purchases
Other direct expenses
Gross profit
Other income
Less:
Selling and marketing costs
Administrative expenses
Depreciation and amortisation
Net (loss) / profit for the year
Transfer to designated fund
Transfer of funds to/from reserves
Retained profits brought forward
Retained profits carried forward||**2023**
**£**
19,606
642


(229)
526,962
24,539

-

|**2023**
**£**
19,606
642


(229)
526,962
24,539

-

|**2023**
**£**
19,606
642


(229)
526,962
24,539

-

|**£**
548,983
20,248|||**_202_**
**_£_**
_18,050_
_642_|**_2_**
**_£_**
_529,757_
_18,692_| |---|---|---|---|---|---|---|---|---|---| |||(229)
526,962
24,539
-||||||_385_
_511,187 _
_33,835_
-|| ||||

|

|
528,735
2,929||||_511,065_
_39,984_| ||||||||||_551,049_
_545,407_
_5,642_
-
_5,642_
_384,956_| ||||||||||| ||||||||||| ||||||||||| ||||||
£ 370,990||||_£ 390,598_| P a g e | **13** **BLACKHEATH MONTESSORI CENTRE LTD PROFIT AND LOSS ACCOUNT SUMMARIES FOR THE YEAR ENDED 31 MARCH 2023** |**Purchases:**
Equipment and materials
Catering
**Other direct expenses:**
Plant hire
**Other income:**
Grants
Trips
Other income, bank interest and commission
**Selling and marketing costs:**
Advertising & sales promotion
Bad debts (recovered)|**2023**
**£**
6,950
12,656
£19,606
£642
-
_1,089_
_1,840_
_£2,929_
30
(259)
£(229)|**_2022_**
**_£_**
_5,495_
_12,555_| |---|---|---| |||_£18,050_| |||_£642_| |||_37,734_
-
_2,250_| |||_£39,984_| |||-
_385_| |||_£385_| P a g e | **14** **BLACKHEATH MONTESSORI CENTRE LTD PROFIT AND LOSS ACCOUNT SUMMARIES FOR THE YEAR ENDED 31 MARCH 2023** |**Administrative expenses:**
Parking (less contribution)
Rates
Light and heat
Repairs & renewals
Salaries
NIC employer
Agency staff
Pension contributions
Recruitment & training
Protective equipment
Computer costs
Accountancy
Professional Fees
Waste disposal
Insurance
Cleaning
Stationery & office supplies
Telephone
Sundry expenses
Bank charges
Loan Interest
**Depreciation and amortisation:**
Depreciation of plant & machinery
Depreciation of fixtures & fittings
Depreciation of equipment|**2023**
**£**
1,800
6,065
8,318
6,661
412,027
34,310
2,470
9,255
2,186
1,144
10,105
1,632
1,161
4,017
17,536
4,070
1,414
495
276
477
525,418
1,544
£526,962
**_2023_**
**£**
10,113
13,832
594|**_2022_**
**_£_**
_400_
_465_
_4,904_
_11,593_
_395,579_
_31,258_
_15,052_
_8,433_
_5,600_
_2,270_
_9,383_
_1,768_
_1,747_
_2,095_
_14,499_
_2,948_
_848_
_614_
_2_
_499_| |---|---|---| |||_509,956_
_1,231_
_£511,187_
**_2022_**
**_£_**
_15,094_
_17,949_
_792_
_£33,835_| ||£24,539|| P a g e | **15**