REGISTEItED COMPANY NUMBER.. 1x1787663 lEland and Wales) REGISTEREO CHARITY NUMBER.. 307010 REPORT OF THE TRUSTEES AN NCIAI STATEME1 R THE YEAR E14DED 31 AUGUST 2021 FIELD NURSERY SCHOOL SEAfORD 8reeie & Associates Ltd. Chartered Actountants 5 Comlield Tevrace EastboumÈ East Sussex 8N214NN *AB49NEVC' 1W0512022 . COMPANIES HOUSE
MICKLEFIELD NURSERY SCHOOL SEAFORD CONTENTS OF THE FINANCIALSTATEMEiirs FOR THE YEAR ENDED 31AUGUST2021 Rèwt ot the Trustees Independent E¥amlner's Report Statementof Flnancial Artivities Statement of FiTrancknl Positron Notesto the Flnanclal 5taternents to 15
MICKLEFIELO NURSERY SCHOOL 5EAFORD REGISTERED NUMBER: C#)787663 REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 31 A 21 The trustees who are also dirertors of the charity for the purposes of the Companies Act 26, present their report with the financial statement5 of the charity for the year ended 31 Au8USt 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities." Stsiement ol Recommended Practice applicable io charities preparing their accounts in accorLlance vrith the Financial Reporting Standard applitable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. OBJECllVES AND ACTIVITIES object1$ and aims The tru5t'5 objectives are to provide educational Services. The poliry adopted in furtherance of these objectr¥es is to condurt an independant nursery sthool for boys and girls an(J there has been no ehan8e in this durin8 the year. 518nifitant aeis¥ftles On 1st September 1994 the senior school merged with Wadhur5t College. &nce that date the trust has continued purely as a nursery 5th001. ACAIEVEMÉNT AND Pf RFOAMANCÉ Chalitable artivities During the first National Lockdown during the COVID pandemic. Mlcklefield Nursery's senior stsff wothed incredibly hard to rnake the building COVID safe keep it5 doors open to Key Worker children. A small group of children and three staff attended the nursery during tenn time and the sthool holiday5 and the group was known as Ti8er Club,. which stood for bravery. cwrzge. stren8th and power. After the lockdown and the 5ucce5s of Ti8er aub. it w35 deuded to continue it as an early morning and afternoon club. FINANCIAL REVIEW Financial posit•Dn The financial results for the year show a surplus of £25.26812020.. £24.0681. Principal funding sourte5 The principal fundin8 sources are from 8rants and lI10n fee5. Reserves pollcv The level ol reserves is £413.93712020: £388.6691. It is the policy of the tharity that uniestricted funds which have not been desi8ned for a Specific use should be maintained at a level equivalent to at leasi six months expenditure. The trustees consider that reserves at this level will ensure that. in the event of a significant drop in fUndThg. they will be able to continue the tharity's current activities while congderation is 8i¥en to ways in which additional funds may be raised. Financial and risk management objeciives and polkies Financial sustainability IS the major risk for the trust. Financial risk 15 managed by a regular review of available liquid funds to settle debts as they fall due and artive management of incoming and outgoing re50urces to ensure sufficient workin8 capital by the trust. FUTURE PL4NS The trust's objecrive remain5 to provide the best educational seNices it can whilst strengthening our links to the community. Page I
MICKLEFIEU> NURSERY SCHOOL SEAFORD REGISTERED NUMBER.. 00787663 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 STRucfuRE. GOVERNANCE AND MANAGEMENT Governing docurnent The charity is controlled by its governing documenL a deed of trust and con5titute5 3 limited company. limited by guarantee. as defined by the Companies Act 2LN)6. The charity is constituted as a company lirnited by guarantee and is therefore 8ovemed by a memorandum and èrtitles of association. The trust is adrninistered by the Counal of Govemors who are trustees of the incorporated trust. Eligibility lor membership of the charity. and membership of the board of tr115tee5 is governed by the rnemorandum and articles of association. There are no restrictions in the 8overnin8 document on the operation of the charity or on its investment powers. gther than those imposed by general charity law. Re¢rultment and appolntment of new trustees The admission of new trustees Imembersl requires the apprcval of the Goveming Body which ha5 absolute discretion as to the admission of any person. Risk mana¥ement The trustees have 3 duty to identify and review the risk5 to which the charity is exposed and to ensure appropriate tontrols are in place to provide re350nable assurance against fraud ènd error. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 00787663 IEn8land and Wales) Regbttred Charity numbtr 307010 Religiefed oflke Mitklefield Nursery Sthool Sutton Avenue Seaford East Sussex BN25 4LN Tiustees Mr5 M Stacey Trustee Mrs F Wright Trustee Mrs J Hanby Trustee Mr P Gallagher Trustee M5 A Buroni Trustee (appointed 2512120211 Ms E Piper Trustee (appointed 2512120211 Independent Examlner Breeze & Assotiate5 Ltd. Chartered Accountsnt5 5 Cornfield Terrace Ea5tbourne East Sussèx BN214NN Approved by order of the board of trustees on........... . and signed on its behalf bv= Page 2
MICKLEFIELD NURSERY SCHOOL SEAFORO REGISTERED NUMBER: 00787663 REPORT OF ThE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 Mrs M Stacey- Tru Page 3
INDEPENDENT EXAMIP4ER'S REPORT TO THE TRUSTEES OF MICKLEFIELD NURSERY SCHOOL SEAFORD Indtpèndert examlnerfs report to thè trustees of Mickltfi•ld Nursery School Iseafordl Ilhe Company'l I report to the charity trustees on rny examination of the account5 of the Company for the year ended 31 Au8USt 2021. Resp0Tr5ibililies and ba515 of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Att 261'the 2(KJ6 Act'l. Having satisfied myself that the accounts of thè Company are not QUIred to be èudited under Part 16 01 the 2006 Aet and are eligible for independent examination. I report in respect of my examination of your charity'5 account5 as carried out under Section 145 of the Charities Act 2011 1.the 2011 Act'l. In carrying out my examination I have followed the Directions 8iven by the Charity Commission under section 145151 Ibl of the 2011 Art. Independent exam•ner's ststernent Since your charily's gross income exceeded £250.(KQ your examiner must be a member of a listed body. I can Confirm that l am qualified to undertake the examination because l am a registered member of Institute of Chartered Accountants in En8land and Wale5 which 15 one of the listed bodies. I have corrpleted my examination. I confirm that no matters have come to my attention in connection with the e¥amination giving me cause to beliewe= accounting COrd$were not kept in re4)ect of the Company as required by section 386 of the 2CQ6 Art., or the accounts do nol accord with those records.. or the accounts do not comply with the accounting requ1Ments of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view whith is not a matter considered as part of an independent examinatson." or the account5 have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charitses lapplicable to charities preparin8 their accounts in attordante with the Firnancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have tome across no other Matters in connection with the examination to whith attention should be drawn in this report in Order to enable a proper under5tandin8 of the accounts to be reached. Chadotte Marsh Institute of Chartered Accountants in Englantl and Wale5 Breeze & sOcIateS Ltd. Chartered Accountants 5 Comlield Terrace Ea5tbourne East Sussex 8N214NN z.q.i..o..37.2.Q.Z.2.... Pa8e 4
MICKLEFIELD NURSERY SCHI]OL SEAFORD STATEMENT OF FINAIICIAL ACTIVITIES FOR THE YÉAR ENDED 31AUGUST2021 PERIOD 118119 TO 3118120 Total funds YEAR ENDED 3118121 Total fund5 Unrestricted funds Aestrirted fund Notes INCOME AND ENDOWMENTS FROM Don3titsns and legacies 334 334 Chariiablè aCtItIeS Operation of nursery 440.171 440.171 382,708 Other tradin8 auivities Investment incomè 1.037 467 1.037 467 2,183 638 Tot 442.wg 442.C¥YJ 385.529 EXPENDITURE ON Rai%n8 funds 733 733 992 Charhable artivities Operation ol nursery Operation of nursery 416,008 416.(K)8 360.469 Totsl 416.741 416.741 361.461 ET INCOME 25.268 25.268 24.(68 RECONCIUATION OF FUNDS Total funds brought forward 388.669 364.601 TOTAL FUNDS CARRIED FORWARD 413.877 413.937 388,669 The notes form yart of these financial statements Page 5
MICKLEFIELD N RSERY HOOL SEAFORD RE TERED NUMBER: )787663 STATEMENT OF FINANCIAL POSITION 31AUGUST2021 2021 Total funds 2020 Total funds Unrestricted funds Restrirted fund Notes FIXEDASSETS Tangible assets 154.563 154.563 170.195 CURRENT ASSETS Stock5 Debtors Cash at bank antl in hand 50 8,440 259.860 50 12,576 216,8 io 8.440 259,8Crf) 268.290 268.350 229.426 CREDITORS Amounts falling due within one year li 18.9761 18.9761 110,9S21 NET CURRENT A55ETS 259.314 259,374 218,474 TOTALASSETS LE CURRENT LIA8111TIES 413.877 413.937 388,669 NET ASSETS 413.877 413.937 388,669 FUNOS Unrestricted funds Restricted funds 13 413.877 60 388,609 60 TOTAL FUNDS 413,937 388,669 The charitable company 15 entitled to exemption from audit under Sectyon 477 of the Companies Act 21106 for the year ended 31 August 2021. The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Settion 476 olthe Companie5 Act 2(6. The trustees acknowled8e their responsibilTtit5 for ensuring that the charitable company keep5 accountin8 records that compty with Sections 386 and 387 of the Companies Att 2006 and preparing financial statements which give o true and fair view of the State of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year IN accordance with thc requirement5 of Sections 394 and 395 and which otherwise compty with the reqyirèments of the Companies Act 2QJ6 relatin8 to financlal statements. so far as applicable to the charitable companv. The note5 form part of these financial statements Pa8e 6 continued...
MICKLEFIELD NURSERY SCHOOL SEAFORD REGISTERED NUMBER: 00787663 STATEMENT OF FINANCIAL POs10N- <onilnued 31AUGUST 2021 These financial siatements have been prepared in accordance with the pro¥t5ions applicable to charitsble companles subject to the small companies re8ime. The financial statements were approved by the 8oard of Trustees and authori5ed for issue on and were si8ned on its behalf by- Mrs M Stacey- Trustee The notes fom) part of these financial ststements Page 7
MICKLEFIEU) NURSERY SCHOOL SEAFOAD NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED31 AUGUST2021 ACCOUNnNG POLICIES Basis of prÈparing the finan¢i¥ Statements The financial statements of the charitable tompany. which ts a public benefrt entity under FRS 102. have been prepared in accordance wth the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Prattite applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffectyve l January 20191.. Financial Reportin8 Standard 102 'The Financial Reportin8 Standard applicable in ihe UK and Republic of Ireland, and the C(Mmpanies Act 20(. The financial statements have bten prepared under the historital tost convention. The trustees consider that there a no material uncertainties about the trusts ability to continue as a going concem. Flnancial reportlng standard 102- feductd disclosure exemptlons The charitable compaThy has taken advanta8e of the followin8 disclosu exemptions in preparin8 these financial statements. as permitted by FRS 102 The Finantial Reporting standard applitable in the UK and Republic of Ireland,: the requiremenrs of Settion 7 Statement of Cash Flows- the requirement of para8raph 33.7. Income All in£ome is recognised in the Statement of Finanoal Activities once the charity has entitlement to the funds. it is probable that the income will be reIved and the amount can be measured reliably. Income from government and other grants. whether "capitsl- 8rants or "wenue" grants is wognised when the eharity has entitlement to the funds. arty performance conditions attached to the 8rants have been met. it is probable that the income will be receiveil and the amwnts can be MeasUd reliably and are not deferred. Interest on funlls held on deposit is induded when receivable and the amount tan be measureil liablY by the charity. Thi5 is nofrnally upon notification of the interest paid or payable by the bank. Expendlture Liabilities are recognised as expenditure as soon as there is a *al or constructive obligation cornmittirg the charity to that expenditure, it is probable that 3 transfer of econgmic benefits will be required in settlement and the amount of the obligation can be measured relIab- Expenditure is accounted for on an accruals basis and has been cla$5ified under headings that 388wate all cost related to the category. Where costs cannot be direttly attribuied lo particular headines they have been allocated to activitTres on a basi5 consistent with the use of resourtes. Tangible fixed assèts Fixed assets are stated at C05t and are depreciated over their estimated usefvl economic lives at the following annual rates:. FehOld land Freehold buildings Plant & equipment lrnprovements to property Furniture. frtting5 & equipment Computer equipment No depretiath?n is proved Straight line over 50 years 5trai8ht line over S years Straight line over 15 years 15X reducin8 balante Strai8ht line over 3 years Pa8e 8 continued...
MICKLEFIELD NURSERY SCHOOL SEAF AD NOTES TO THE FINANCIAL 5TATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2021 ACCOUNnNG POLKIES- continued Stocks Stock is included at the lower ol cost or net realisable value. Taxatlon The tharity is exempt from corporation tax on its charitable artivities. Fynd accountlnB Unrestricted funds can be used in accordance with the charitable obiectNes at the discrerion of the twstees. Restrirted fund5 can only be used for particular restricted purposes within the objectives of the charity. Restrirtions arise when specified by the donor or when funds are raised for particular restricted purposes. Hire purchase and leasing commitments Rentals paid under operatin8 leases a char8ed to the statement.of Financial Activitie5 on a straight line basis over the period of the lease. Ptnsitin tosts and othèr posi-rthtment benefits The charitable company operates a defined contribution pension 5cherne. Contributions payable to the charitable company'5 pension scheme afe charged to the Statement of Financial Activities in the period to whieh they relate. Financial instrurnents The trust only has financial assets and financial liabilitie5 01 a kind that qualify a5 b4C financial instrument5. Basit rinancial instruments are initially recognise(l at transaction value and subsequently measured at their settlement value. OTHER TRADING AcfMTIES PERIOD 118119 TO 3V8120 YEAR ENDED 3118121 Fundraising events 1.037 2,183 Pa8e 9 ontinued...
MICKLEFIEL NURSERY SCHOOL NOTES TO THE FINANCIAL STATEMENTS- tontinued FOR THEYEAR ENDED 31AUGUST2021 INVESTMENT INCOME PERIOD 118119 TO 3118no YEAR ENDED 3V8121 Deposit account interest 467 638 NET INCOMEIIEXPENDITUREI Net income/lexpendituj is stated after thargingJlcredr(in81= PERIOD 118119 TO 3V8120 YEAR ENDED 3V8121 Depreciation - owned assets Hire of plant and mathinery 17,5S3 1,404 18.098 1.800 TRiISTEES' REMLINERATION AND BENEFIT5 There were no trustees. remuneration or other benefits for the year ended 31 August 2021 nor for the period ended 31 Au8ust 2020. Trustees. empenses There were no trustee5' expenses paid for the year ended 31 Au8USt 2021 nor for the period ended 31 AglISt 2020. STAFF COSTS The avera8e monthly number of employee5 during the yearwas as follow5= PERIOO 118119 TO 3118120 32 YEAR ENDED 3118121 31 Tuition Adminsstrative 35 36 No employees received ernUments in excess of £fI).). Page 10 continued...
MICKLEFIELD NURSERY SCHOOL SEAFORD NOTES TO THE FINANCIAL5TATEMENT5- contlnued FOR THE YEAR ENDED31 AUGUST2021 COMPARATIVES FOR THE STATEMENT OF FINANCIALAcfiviTIE5 Unrestrirted funds Restricted fund Total fund5 INCOME AND ENDOWMENTS FROM Charitable actlvllles Operation of nursery 382,708 382.708 Other trading activities Investment intome 2.183 638 2.183 638 Total 385.529 385.529 EXPENDITURE ON Raisin8 funds 992 992 Charitable artivities Operation of nursery 360.469 360,469 Totsl 361.461 361.461 NET INCOME 24.068 24.068 RECONCILIATION OF FUN05 Total fvbKl$ bfoughi forward 364.541 60 364.601 TOTAL FUNDS CARRIED FORWARD 388,6C8 388.669 Page 11 continued...
MICKLEFIELD NURSERY SCHOOL SEAFORD NOTES TO THE FINANCIAL 5TATEMENTS- Cofflinued FOR THE VEAR ENDED 31AUGUST 2021 TANGI8LE FIXED ASSETS Improvements to propertv Freehold property Plant and machinery COST At I September 2020 Addition5 50.C*)J 201,714 705 15.947 696 At 31 August 2021 202,419 16.643 DEPRECIATION At I September 2020 Char8e for year 10.2 82,803 12,803 13.794 1.725 At 31 Au8115t 2021 10.8tsJ 95,606 15,519 NET BOOK VALUE At 31 August 2021 39.2CXJ 106.813 1.124 At 31 August 2020 39.8Th) 118.911 2.153 Fixtures and fittings Computer equipment Totals COST At I September 2020 Additions 73.717 10.418 520 351,796 1.921 At 31 Augusi 2021 73,717 10.938 353,717 DEPRECIATION At I September 2020 Charge for year 65.635 1.212 9,169 1.213 181,601 17.S53 At 31 Au8USt 2021 66.847 10.382 199,154 NET BOOKVAWE At 31 August 2021 6.870 556 154,563 At 31 Au8USt 2020 8.082 1,249 170,195 Page 12 tontinued...
MICKLEFIELD NURSERY SCHOOL SEAFORD NOTE5 TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENOED I AUGUST 2021 STOCKS 2021 2020 Stc*ks 50 io. DE8TORS: AMOUNTS FAWNG WE WtTHIN ONE YEAR 2021 2020 Trade debtors Other debtois Prepayments and accnJed income 5.959 104 2,377 1,309 9,148 2,119 12,576 ii. CREDITORS: AMOUNTS FAWNG DUE WITHIN ONE YEAR 2021 2020 Trade creditors Social security and other taxes .Other creditors Accruals and deferred sncorne 3.469 2.451 851 2.205 7,064 1.264 701 1.923 8.976 10.952 12. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due zs follows.. 2021 2020 Between one and five years 1.404 Page 13 continued...
MICKLEFIELD N RSEAY EAFORD NOTES TO THE FINANCIAi STATEMEP4TS- ¢onllnued FOR THE YEAR ENDED 31 AUGUST 2021 iy. MOVEMENT IN FUNDS Net movement in funds At 3118121 At 119120 Unrestrlded funds Gerteral fund Fundraisin8 fund 382,351 6,258 24,359 909 406,710 7,167 388.609 25.268 413,877 Restritted funds Fla8pole fund 60 60 TOTAL FUNDS 388.669 25.268 413.937 Net movement in funds. included in the above are as follows.. Incoming resources Resources expended Movement irn funds Unremrlrted funds General fund Fundraising fund 440.973 1,036 1416.6141 11271 24.359 909 442,LX 1416.7411 25.268 TOTAL FUNDS 442.c#J9 1416.7411 25,268 Comparative5 lor movernent in luhds Net movement in fundi At 3118120 At V8119 Unrestrl¢ted fvnds General fund Fundraising fvnd 360.249 4.292 22.102 1.966 382.351 6.258 364.541 24.068 '3AA.fiori Restrlcted lunds Flagpole fund 60 TofAL FUNDS 364,601 24.068 388,669 Page 14 continued...
MICKLEFIELO NURSERY SCHOOL SEAFORD NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 AUGUST 2021 MOVEMENT IN FUND5- contlnued Comparative net movement in funds, included in the above are as follows.. Intoming resources Resources expended Movement in funds Unremrlcted lunds General fund Fundraisin8 fund 383,345 2.184 1361.2431 12181 22.102 1.966 385,529 1361,4611 24,068 TOTALFUND5 385.529 1361,4611 24,068 The restricted fund represents funds receNed speofically to ered a flag pole to hang the original Micklefield flag. These funds at present remain unspent. 14. RELATED PARTY LHSCLOSURES There were no related party transartions for the year ended 31 Au8USt 2021_ 15. UMITED BY GUARANTEE The charity is incorporated under the Companies Act and is limited by guarantee. each member having unéertaken to Contribute such amounts not exceeding ten pounds as may be required in the event ol the company bein8 wound up whilst he or she 15 5ti113 mernber or th1Th one year theafter. There are 6 members of the board12020.. 4 members). Pa8e 15