**Charity registration number Registered Charity Number: 290721** ## **ST MARY'S DAY NURSERY** # **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021** ## **ST MARY'S DAY NURSERY** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|C Haywood| |---|---| ||Lindsey Rosling| ||R Errington| ||N Dorrill| ||B Addison| ||A Milne| ||V Thorne| ||Rev Sylvia Coles| ||Anika Errington| |**Charity number**|¸290721| |**Principal address**|Towcester Road| ||Northampton| ||NN4 8EZ| |**Independent examiner**|Jervis & Partners| ||30 Harborough Road| ||Kingsthorpe| ||Northampton| ||NN2 7AZ| ## **ST MARY'S DAY NURSERY** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 2| |Independent examiner's report|3| |Statement of financial activities|4| |Statement of financial position|5| |Notes to the financial statements|6 - 10| ## **ST MARY'S DAY NURSERY** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_ The Trustees present their annual report and financial statements for the year ended 30 September 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's trust deed, the Charities Act 2011 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 2019)". ## **Objectives and activities** Our Nursery provides a caring, happy and stimulating atmosphere where 2-5 year olds can learn through play. We were last inspected in December 2014 where we received the "outstanding" judgement in all areas. We have large outdoor and indoor facilities which include a pirate ship, climbing area, a mud kitchen and a large shaded area for the summer period, all of which are permanent fixtures. We also have an area on the drive which allows children to access outdoor play without going into the garden. ## **Achievements and performance** ## **Financial review** Unfortunately Covid 19 restricted us from the Christmas celebrations as Covid infection rates rose again. Restrictions were put into place and again no Christmas activities were held for the children apart from their classroom bubbles. Therefore, due to Covid 19, we continued to be very quiet as we could only rely on emails and virtual tours to try and encourage perspective parents to use the setting. Part time Furlough was extended so we were able to utilise what was possible as well as manage existing staff during busier months without recruiting another member of staff, It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Structure, governance and management** The Charity is constituted under a trust deed dated September 1984, revised in February 1999, and is a registered charity. The Trustees who served during the year and up to the date of signature of the financial statements were: C Haywood Lindsey Rosling R Errington N Dorrill B Addison A Milne V Thorne Rev Sylvia Coles Anika Errington Managers meetings were still restricted this year due to Covid 19 restrictions so these continued to be held by zoom. . - 1 - ## **ST MARY'S DAY NURSERY** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_ . The Trustees' report was approved by the Board of Trustees. C Haywood **Trustee** 29 July 2022 - 2 - ## **ST MARY'S DAY NURSERY** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST MARY'S DAY NURSERY** We report to the Trustees on our examination of the financial statements of St Mary's Day Nursery (the Charity) for the year ended 30 September 2021. ## **Responsibilities and basis of report** As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). We report in respect of our examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. We confirm that we are qualified to undertake the examination because we are a member of the I C A E W, which is one of the listed bodies. Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. We understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us cause to believe that in any material respect: - 1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ## **Jervis & Partners** 30 Harborough Road Kingsthorpe Northampton NN2 7AZ Dated: 29 July 2022 - 3 - ## **ST MARY'S DAY NURSERY** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_ |||**Unrestricted Unrestricted**|**Unrestricted Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2021**|**2020**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Donations and legacies|**2**|198,800|211,983| |Charitable activities|**3**|88,812|69,376| |Other trading activities|**4**|74|1,342| |Investments|**5**|8|42| |**Total income**||287,694|282,743| |**Expenditure on:**|||| |Charitable activities|**6**|302,304|306,137| |**Net expenditure for the year/**|||| |**Net movement in funds**||(14,610)|(23,394)| |Fund balances at 1 October 2020||88,814|112,208| |**Fund balances at 30 September 2021**||74,204|88,814| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 4 - ## **ST MARY'S DAY NURSERY** ## **STATEMENT OF FINANCIAL POSITION** ## _**AS AT 30 SEPTEMBER 2021**_ |**Notes**
**Fixed assets**
Property, plant and equipment
**9**
**Current assets**
Cash at bank and in hand
**Current liabilities**
**10**
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds|**2021**
**£**
76,502
(5,975)|**£**
3,677
70,527
74,204
74,204
74,204|**2020**
**£**
93,265
(9,354)|**£**
4,903
83,911| |---|---|---|---|---| |||||88,814| |||||88,814| |||||88,814| The financial statements were approved by the Trustees on 29 July 2022 C Haywood **Trustee** - 5 - ## **ST MARY'S DAY NURSERY** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_ ## **1 Accounting policies** ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 2019). The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. ## **1.4 Income** Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 6 - ## **ST MARY'S DAY NURSERY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_ ## **1 Accounting policies** **(Continued)** ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **1.6 Property, plant and equipment** Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold land and buildings 10% on Cost Plant and equipment 25% on reducing balance Fixtures and fittings 25% on reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Impairment of non-current assets** At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled. ## **1.9 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.10 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. - 7 - ## **ST MARY'S DAY NURSERY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_ ## **2 Donations and legacies** |||**Unrestricted**|Unrestricted| |---|---|---|---| |||**funds**|funds| |||**2021**|2020| |||**£**|£| ||Grants receivable|198,800|211,983| ||**Grants receivable for core activities**||| ||Government grant income|178,585|186,877| ||Government JRS grant income|20,215|25,106| |||198,800|211,983| |**3**|**Charitable activities**||| |||**Charitable**|**Charitable**| |||**Income**|**Income**| |||**2021**|**2020**| |||**£**|**£**| ||Sales within charitable activities|88,812|69,376| |**4**|**Other trading activities**||| |||**Unrestricted**|Unrestricted| |||**funds**|funds| |||**2021**|2020| |||**£**|£| ||Fundraising events|74|1,342| |**5**|**Investments**||| |||**Unrestricted**|Unrestricted| |||**funds**|funds| |||**2021**|2020| |||**£**|£| ||Bank interest received|8|42| - 8 - ## **ST MARY'S DAY NURSERY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_ ## **6 Charitable activities** |**Charitable**
**Expenditure**
**Charitable**
**Expenditure**
**2021**
**2020**
**£**
**£**
Staff costs
231,120
235,115
Depreciation and impairment
1,226
2,815
Staff training
436
104
Rent and utility costs
25,904
23,035
Repairs and maintenamce
17,321
16,537
Insurance
1,520
1,319
Kitchen expenses
6,073
12,145
Telephone
825
1,107
Postage & stationery
5,645
1,941
Paint, paper & toys
6,571
5,891
Office expenses
4,668
5,014
Bank charges
86
230
Accountancy and legal fees
909
884
302,304
306,137
302,304
306,137|**Charitable**
**Expenditure**
**Charitable**
**Expenditure**
**2021**
**2020**
**£**
**£**
Staff costs
231,120
235,115
Depreciation and impairment
1,226
2,815
Staff training
436
104
Rent and utility costs
25,904
23,035
Repairs and maintenamce
17,321
16,537
Insurance
1,520
1,319
Kitchen expenses
6,073
12,145
Telephone
825
1,107
Postage & stationery
5,645
1,941
Paint, paper & toys
6,571
5,891
Office expenses
4,668
5,014
Bank charges
86
230
Accountancy and legal fees
909
884
302,304
306,137
302,304
306,137|**Charitable**
**Expenditure**
**Charitable**
**Expenditure**
**2021**
**2020**
**£**
**£**
Staff costs
231,120
235,115
Depreciation and impairment
1,226
2,815
Staff training
436
104
Rent and utility costs
25,904
23,035
Repairs and maintenamce
17,321
16,537
Insurance
1,520
1,319
Kitchen expenses
6,073
12,145
Telephone
825
1,107
Postage & stationery
5,645
1,941
Paint, paper & toys
6,571
5,891
Office expenses
4,668
5,014
Bank charges
86
230
Accountancy and legal fees
909
884
302,304
306,137
302,304
306,137| |---|---|---| ||**2021**
**£**
231,120
1,226
436
25,904
17,321
1,520
6,073
825
5,645
6,571
4,668
86
909
302,304
302,304|**2020**
**£**
235,115
2,815
104
23,035
16,537
1,319
12,145
1,107
1,941
5,891
5,014
230
884| |||306,137| |||306,137| ## **7 Trustees** Mrs C Haywood, the Nursery Principal, received £40,859 as remuneration in the year and Mrs L Rosling received £25,768 in respect of her work as Administration Assistant. No other Trustees received remuneration. ## **8 Employees** The average monthly number of employees during the year was: |**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2021**
**Number**
12
**2021**
**£**
215,774
9,707
5,639
231,120|**2020**
**Number**
14| |---|---|---| |||**2020**
**£**
218,324
11,228
5,563| |||235,115| There were no employees whose annual remuneration was more than £60,000. - 9 - ## **ST MARY'S DAY NURSERY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_ ## **9 Property, plant and equipment** |**Freehold land**
**and buildings**
**Plant and**
**equipment**
**Fixtures and**
**fittings**
**£**
**£**
**£**
**Cost**
At 1 October 2020
76,371
7,003
47,697
At 30 September 2021
76,371
7,003
47,697
**Depreciation and impairment**
At 1 October 2020
76,371
5,681
44,116
Depreciation charged in the year
-
331
895
At 30 September 2021
76,371
6,012
45,011
**Carrying amount**
At 30 September 2021
-
991
2,686
At 30 September 2020
-
1,322
3,581
**10**
**Current liabilities**
**2021**
**£**
Other taxation and social security
3,031
Trade payables
1,135
Accruals and deferred income
1,809
5,975|**Total**
**£**
131,071| |---|---| ||131,071| ||126,168
1,226| ||127,394| ||3,677| ||4,903| ||**2020**
**£**
5,005
2,565
1,784| ||9,354| ## **11 Related party transactions** There were no disclosable related party transactions during the year (2020 - none). - 10 -