CHARITY REGISTRATION NUMBER: 292611
YESODEY HATORAH NURSERY Financial Statements
31 December 2020
COHEN ARNOLD
Chartered accountants & statutory auditor New Burlington House 1075 Finchley Road LONDON NW11 0PU
YESODEY HATORAH NURSERY
Financial Statements
Year ended 31 December 2020
| Pages | |
|---|---|
| Trustees' annual report | 1 to 3 |
| Independent auditor's report to the members | 4 to 8 |
| Statement of financial activities | 9 |
| Statement of financial position | 10 |
| Statement of cash flows | 11 |
| Notes to the financial statements | 12 to 18 |
YESODEY HATORAH NURSERY
Trustees' Annual Report
Year ended 31 December 2020
The trustees present their report and the financial statements of the charity for the year ended 31 December 2020.
Reference and administrative details
Registered charity name YESODEY HATORAH NURSERY Charity registration number 292611 Principal office 2-4 Amhurst Park London N16 5AE The trustees Rabbi C Pinter Mr Z Rabinowitz Mr S Sinitsky Auditor Cohen Arnold Chartered accountants & statutory auditor New Burlington House 1075 Finchley Road LONDON NW11 0PU
Structure, governance and management
Yesodey Hatorah Nursery is registered with the Charity Commission (Registered Number 292611).
Yesodey Hatorah Nursery is governed by its Trust Deed dated June 1984.
It is not currently the intention of the trustees of the charity to appoint new trustees. Should the situation change in the future, the trustees will apply suitable recruitment and training procedures.
Risk Management
The charity has assessed the major risks to which the charity is exposed, in particular those to the operations and finances of the charity, and is satisfied the systems are in place to manage its exposure to those risks.
Objectives and activities
The objectives of the charity are to provide childcare facilities for the under five year olds of the Orthodox Jewish Community regardless of sect, background and class structure and especially to provide facilities for children of working mothers.
The charity charges fees to parents but these can be waived in exceptional circumstances.
The trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.
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YESODEY HATORAH NURSERY
Trustees' Annual Report (continued)
Year ended 31 December 2020
Achievements and performance
During the year the charity continued with the provision of childcare facilities to the under five year olds of the Orthodox Jewish Community.
The management committee has successfully carried out its on responsibilities in the four key areas of Finance, Human Resources, Premises and Policy/Curriculum.
The supervision of the Finance function is carried out by a member of the management committee and he has put direct controls in place.
Financial review
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are the free reserve of the charity, at a level which the Trustees think appropriate after considering the future commitments of the charity and the likely administrative costs of the charity for the next year.
As at 31 December 2020 the charity had £391,577 Unrestricted Funds of which £390,400 was free reserves. The remaining £1,157 was sitting in fixed assets.
Investment powers and policy
Under the Trust Deed, the charity has the power to make any investment, which the trustees see fit. The trustees regularly review the charity's position and needs in respect of the investment policy.
Plans for future periods
The charity will continue to provide childcare facilities to the under five year olds of the Orthodox Jewish Community.
Trustees' responsibilities statement
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.
In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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YESODEY HATORAH NURSERY Trustees. Annual Report (Continusd) Year ended 31 December 2020 The truslees are responsible for keeping adequate accounting records that are sufFicient to show and explain the charity's transactions 2nd disclose with reasonable accuracy at any lime the financial position of the charity and enable them to ensure thal the financial slatements comply with the Charities Act 2011, the applicable Charities {Accounts and Reports) Regulations. and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other iwegularities. The trustees, annual report was approv6d on 27 Oclober 2021 and signed on behalf of the board of trustees by.. bbi C Pinter Trustee
YESODEY HATORAH NURSERY
Independent Auditor's Report to the Members of YESODEY HATORAH NURSERY
Year ended 31 December 2020
Opinion
We have audited the financial statements of YESODEY HATORAH NURSERY (the 'charity') for the year ended 31 December 2020 which comprise the statement of financial activities, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 31 December 2020 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
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YESODEY HATORAH NURSERY
Independent Auditor's Report to the Members of YESODEY HATORAH
NURSERY (continued)
Year ended 31 December 2020
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:
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the information given in the trustees' report is inconsistent in any material respect with the financial statements; or
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adequate accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
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YESODEY HATORAH NURSERY
Independent Auditor's Report to the Members of YESODEY HATORAH NURSERY (continued)
Year ended 31 December 2020
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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We obtained an understanding of the legal and regulatory frameworks that are applicable to the company, and determined that the most relevant to the presentation of the financial statements are those that relate to the reporting legislation (UK GAAP and the Companies Act 2006), the relevant tax regulations in the United Kingdom, the Landlord and Tenant Act, the UK General Data Protection Regulation (GDPR), Health & Safety Regulations and the Bribery Act. We understood how the company is complying with those frameworks through discussion with the trustees and senior management, and by identifying the company's policies and procedures regarding compliance with laws and regulations. We also identified those members of management who have the primary responsibility for ensuring compliance with laws and regulations, and for reporting any known instances of non-compliance to the trustees. We communicated these identified frameworks amongst our audit team and remained alert to any indications of non-compliance throughout the audit. We ensured that the engagement team had sufficient competence and capability to identify or recognise non-compliance with laws and regulations.
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We discussed with the trustees and senior management the policies and procedures regarding compliance with these legal and regulatory frameworks.
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We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by reviewing the company's identified risks and enquiry with the trustees and senior management during the planning and finalisation phases of our audit. The susceptibility to such material misstatement was determined to be low.
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Based on this understanding we designed our audit procedures to identify non-compliance with the identified legal and regulatory frameworks, which were part of our procedures on the related financial statement items. Our procedures included reviewing the company's internal controls policies and procedures, reviewing the minutes of board meetings and correspondence with regulatory bodies including HMRC, testing transactions outside the normal course of the business and journal entries, and discussions with the trustees and senior management.
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YESODEY HATORAH NURSERY
Independent Auditor's Report to the Members of YESODEY HATORAH
NURSERY (continued)
Year ended 31 December 2020
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
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Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
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YESODEY HATORAH NURSERY Independent Auditor's Report to the Members of YESODEY HATORAH NURSERY fcontlnuod) Year endad 31 December 2020 We communicate with those charged with governance regarding, among other matt8rs, the planned 5COP8 and timing of the audit and significant audit findings, induding any si9nificant defiGien¢ies in intemal control that we identify during our audit. Use of our report This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charrties A¢t 2011 and regulations made und8r section 154 of that Act. Our audit work has been undertaken so that we might stale to Ihe charity's members those matters we are required to state to them in an auditoff s report and for no other purwse. To the fullest extent permitted by law, we do not a¢¢ept or assume responsibility to anyone Other than the ¢harity and the charity's members 88 a body, for our aLKlit work, for this report, or for the opinions we ave formed. Cohen Amold Chartered accountant8 & statutory auditor New Budington Hou8e 1075 Finchley Road LONDON NW11 OPU 27 October 2021
YESODEY HATORAH NURSERY
Statement of Financial Activities
Year ended 31 December 2020
| 2020 | 2020 | 2019 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ |
£ | £ | |
| Income and endowments | ||||
| Charitable activities | 4 | 1,282,412 | 1,282,412 |
1,179,910 |
| Other income | 5 | 24,053 | 24,053 |
– |
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||
| Total income | 1,306,465 | 1,306,465 |
1,179,910 | |
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||
| Expenditure | ||||
| Expenditure on charitable activities | 6,7 | 1,143,549 | 1,143,549 |
1,070,235 |
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||
| Total expenditure | 1,143,549 | 1,143,549 |
1,070,235 | |
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||
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||
| Net income and net movement in funds | 162,916 | 162,916 |
109,675 | |
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||
| Reconciliation of funds | ||||
| Total funds brought forward | 228,661 | 228,661 |
118,986 | |
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| Total funds carried forward | 391,577 | 391,577 |
228,661 | |
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 12 to 18 form part of these financial statements.
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YESODEY HATORAH NURSERY Statement of Financial Position 31 December 2020 2020 Fixed assets Tangible fixed assets Current assets Debtors Cash at bank and in hand Nots 2019 12 1,157 1,543 13 316,289 104,043 420,332 273,903 10,606 284,509 Credilors.. amounts falling duo wlthin one year 15 29,912 Net Gurrent assels Total assets less currenl liabilitiès Not assets 57,391 227,118 228.661 228.661 390,420 391,577 391,577 Funds of the charlty Unrestricted funds Total ¢harity funds 391,577 228.661 391.577 228,661 These financial statements were approved by the board of trustees and authorised for issue on 27 October 2021, and are signed on behalf of the board by: 17 bi C Pinter Trustee The notes on pages 12 to 18 form part of thgse finandal statenEnt8. 10-
YESODEY HATORAH NURSERY
Statement of Cash Flows
Year ended 31 December 2020
| 2020 | 2019 | ||
|---|---|---|---|
| Note | £ | £ | |
| Cash flows from operating activities | |||
| Net income | 162,916 | 109,675 | |
| Adjustments for: | |||
| Depreciation of tangible fixed assets | 386 | 514 | |
| Interest payable and similar charges | 748 | – | |
| Accrued expenses/(income) | 12,600 | (7,200) | |
| Changes in: | |||
| Trade and other debtors | (42,386) | (64,003) | |
| Trade and other creditors | (24,355) | 6,317 | |
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| Cash generated from operations | 109,909 | 45,303 | |
| Interest paid | (748) | – | |
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| Net cash from operating activities | 109,161 | 45,303 | |
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| Net increase in cash and cash equivalents | 109,161 | 45,303 | |
| Cash and cash equivalents at beginning of year | (8,760) | (54,063) | |
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| Cash and cash equivalents at end of year | 14 | 100,401 | (8,760) |
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The notes on pages 12 to 18 form part of these financial statements.
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YESODEY HATORAH NURSERY
Notes to the Financial Statements
Year ended 31 December 2020
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 2-4 Amhurst Park, London, N16 5AE.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties regarding the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Judgements made by the directors in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are as follows:
(i) Trade and other debtors
Management uses details of the age of trade and other debtors and the status of any disputes together with external evidence of the credit status of the counterparty in making judgements concerning any need to impair the carrying value.
Fund accounting
General unrestricted funds comprise the accumulated surplus or deficit on income and expenditure account. They are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity.
Restricted funds are funds subject to specific restricted conditions imposed by donors. There are no restricted funds as at the Balance Sheet date.
Designated funds are funds which have been set aside at the discretion of the Trustees for specific purposes. There are no designated funds as at the Balance Sheet date.
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YESODEY HATORAH NURSERY
Notes to the Financial Statements (continued)
Year ended 31 December 2020
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Liability recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of Statutory Accounts, the costs of trustee meetings and cost of any legal advice to Trustees on governance or constitutional matters.
Grants payable without performance conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.
Tangible assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Improvements - 25% straight line Fixtures & Fittings - 25% reducing balance Equipment - 25% reducing balance Portacabin - 20% straight line
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YESODEY HATORAH NURSERY
Notes to the Financial Statements (continued)
Year ended 31 December 2020
3. Accounting policies (continued)
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or paable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Charitable activities
| Unrestricted | Total Funds |
Unrestricted |
Total Funds |
||
|---|---|---|---|---|---|
| Funds | 2020 |
Funds |
2019 |
||
| £ | £ | £ | £ | ||
| Statutory | grants | 626,153 | 626,153 |
580,128 |
580,128 |
| Parental | contributions | 656,259 | 656,259 |
599,782 |
599,782 |
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| 1,282,412 | 1,282,412 |
1,179,910 |
1,179,910 |
||
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YESODEY HATORAH NURSERY
Notes to the Financial Statements (continued)
Year ended 31 December 2020
5. Other income
| Unrestricted | Total Funds |
Unrestricted |
Total Funds |
|
|---|---|---|---|---|
| Funds | 2020 |
Funds |
2019 |
|
| £ | £ | £ | £ | |
| Coronavirus Job Retention Scheme | ||||
| Grant | 24,053 | 24,053 |
– |
– |
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|
| Expenditure on charitable activities by fund type | ||||
| Unrestricted | Total Funds |
Unrestricted |
Total Funds |
|
| Funds | 2020 |
Funds |
2019 |
|
| £ | £ | £ | £ | |
| Childcare for under five year olds | 1,120,206 | 1,120,206 |
1,048,036 |
1,048,036 |
| Support costs | 23,343 | 23,343 |
22,199 |
22,199 |
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|
| 1,143,549 | 1,143,549 |
1,070,235 |
1,070,235 |
|
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6. Expenditure on charitable activities by fund type
7. Expenditure on charitable activities by activity type
| Activities | Activities | |||||
|---|---|---|---|---|---|---|
| undertaken | Support | Total funds |
Total fund | |||
| directly | costs | 2020 |
2019 | |||
| £ | £ | £ | £ | |||
| Childcare for under five year olds | 1,120,206 | – | 1,120,206 |
1,048,036 | ||
| Governance costs | – | 23,343 | 23,343 |
22,199 | ||
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| 1,120,206 | 23,343 | 1,143,549 |
1,070,235 | |||
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| 8. | Net income | |||||
| Net income is stated after charging/(crediting): | ||||||
| 2020 | 2019 | |||||
| £ | £ | |||||
| Depreciation of tangible fixed assets | 386 | 514 | ||||
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| 9. | Auditors remuneration | |||||
| 2020 | 2019 | |||||
| £ | £ | |||||
| Fees payable for the audit of the financial statements | 9,600 | 19,200 | ||||
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| 10. | Staff costs | |||||
| The total staff costs and employee | benefits | for the | reporting period are | analysed as | ||
| follows: | ||||||
| 2020 | 2019 | |||||
| £ | £ | |||||
| Wages and salaries | 672,511 | 628,850 | ||||
| Social security costs | 2,882 | 7,611 | ||||
| Employer contributions to pension plans | 1,368 | – | ||||
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| 676,761 | 636,461 | |||||
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YESODEY HATORAH NURSERY
Notes to the Financial Statements (continued)
Year ended 31 December 2020
10. Staff costs (continued)
The average head count of employees during the year was 95 (2019: 100).
No employee received employee benefits of more than £60,000 during the year (2019: Nil).
11. Trustee remuneration and expenses
The trustees did not receive any emoluments from the Charity during the year nor in the previous year. The Charity has not met indivial expenses incurred by Trustees on behalf of the Charity.
12. Tangible fixed assets
| Land and | Fixtures and |
|||||
|---|---|---|---|---|---|---|
| buildings | fittings Equipment |
Portacabin | Total | |||
| £ | £ | £ | £ | £ | ||
| Cost | ||||||
| At 1 January 2020 | ||||||
| and | ||||||
| 31 December 2020 | 41,000 | 235,820 |
56,099 | 145,767 | 478,686 | |
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| Depreciation | ||||||
| At 1 January 2020 | 41,000 | 234,278 |
56,098 | 145,767 | 477,143 | |
| Charge for the year | – | 386 |
– | – | 386 | |
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| At | ||||||
| 31 December 2020 | 41,000 | 234,664 |
56,098 | 145,767 | 477,529 | |
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| Carrying amount | ||||||
| At | ||||||
| 31 December 2020 | – | 1,156 |
1 | – | 1,157 | |
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══════════ |
══════════ |
||
| At 31 December 2019 | – | 1,542 |
1 | – | 1,543 | |
═════════ |
══════════ |
═════════ |
══════════ |
══════════ |
||
| 13. | Debtors | |||||
| 2020 | 2019 | |||||
| £ | £ | |||||
| Other debtors | 316,289 | 273,903 | ||||
══════════ |
══════════ |
|||||
| 14. | Cash and cash equivalents | |||||
| Cash and cash equivalents comprise the following: | ||||||
| 2020 | 2019 | |||||
| £ | £ | |||||
| Cash at bank and in hand | 104,043 | 10,606 | ||||
| Bank overdrafts | (3,642) | (19,366) | ||||
────────── |
───────── |
|||||
| 100,401 | (8,760) | |||||
══════════ |
═════════ |
- 16 -
YESODEY HATORAH NURSERY
Notes to the Financial Statements (continued)
Year ended 31 December 2020
15. Creditors: amounts falling due within one year
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Bank loans and overdrafts | 3,642 | 19,366 |
| Trade creditors | 3,883 | – |
| Accruals and deferred income | 22,200 | 9,600 |
| Other creditors | 187 | 28,425 |
───────── |
───────── |
|
| 29,912 | 57,391 | |
═════════ |
═════════ |
16. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,368 (2019: £Nil).
17. Analysis of charitable funds
Unrestricted funds
| At | At 31 | ||||
|---|---|---|---|---|---|
| 1 | January | December | |||
| 2020 | Income | Expenditure | 2020 | ||
| £ | £ | £ | £ | ||
| General funds | 228,661 | 1,306,465 | (1,143,549) | 391,577 |
|
══════════ |
═════════════ |
═════════════ |
══════════ |
||
| At | At 31 | ||||
| 1 | January | December | |||
| 2019 | Income | Expenditure | 2019 | ||
| £ | £ | £ | £ | ||
| General funds | 118,986 | 1,179,910 | (1,070,235) | 228,661 |
|
══════════ |
═════════════ |
═════════════ |
══════════ |
18. Analysis of net assets between funds
| Analysis of net assets between funds | |||
|---|---|---|---|
| Unrestricted | Total Funds |
||
| Funds | 2020 | ||
| £ | £ | ||
| Tangible fixed assets | 1,157 | 1,157 | |
| Current assets | 413,287 | 413,287 | |
| Creditors less than 1 year | (22,867) | (22,867) |
|
────────── |
────────── |
||
| Net assets | 391,577 | 391,577 | |
══════════ |
══════════ |
||
| Unrestricted | Total Funds | ||
| Funds | 2019 | ||
| £ | £ | ||
| Tangible fixed assets | 1,543 | 1,543 | |
| Current assets | 284,509 | 284,509 | |
| Creditors less than 1 year | (57,391) | (57,391) |
|
────────── |
────────── |
||
| Net assets | 228,661 | 228,661 | |
══════════ |
══════════ |
- 17 -
YESODEY HATORAH NURSERY
Notes to the Financial Statements (continued)
Year ended 31 December 2020
19. Analysis of changes in net debt
| Analysis of changes in net debt | |||
|---|---|---|---|
| At | At | ||
| 1 Jan 2020 | Cash flows | 31 Dec 2020 | |
| £ | £ | £ | |
| Cash at bank and in hand | 10,606 | 93,437 | 104,043 |
| Bank overdrafts | (19,366) | 15,724 | (3,642) |
───────── |
────────── |
────────── |
|
| (8,760) | 109,161 | 100,401 |
|
═════════ |
══════════ |
══════════ |
20. Related parties
There were no related party transactions during the period under review.
- 18 -