Docusign Envelope ID: C73C54D3-F1E6-4C6A-8167-DDFCE4BE52C4
Charity number: 308228
SAFFRON WALDEN NURSERY SCHOOL
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Docusign Envelope ID: C73C54D3-F1E6-4C6A-8167-DDFCE4BE52C4
SAFFRON WALDEN NURSERY SCHOOL
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 4 |
| Independent Examiner's Report | 5 - 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 21 |
Docusign Envelope ID: C73C54D3-F1E6-4C6A-8167-DDFCE4BE52C4
SAFFRON WALDEN NURSERY SCHOOL
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2022
| Trustees | Zoe Diggons (resigned 30 July 2022) |
|---|---|
| Clare McPartland (resigned 28 February 2023) | |
| Elizabeth Wilson | |
| Catriona Rubin (resigned 29 October 2021) | |
| Jennifer McDonald (resigned 10 January 2022) | |
| Lesli Goddard (resigned 10 January 2022) | |
| Vicky Taylor (resigned 10 January 2022) | |
| Sally Petts (appointed 4 February 2022) | |
| Sophie Brady (appointed 1 May 2023, resigned 1 July 2024) | |
| Rachel Payne (appointed 16 February 2023) | |
| Charity registered number 308228 Principal office Shire Hill Saffron Walden Essex CB11 3AQ Nursery Manager Caroline Clark Barbara James Elizabeth Wilson Independent Examiner Mrs K Bretherick FCA Chartered Accountants Peters Elworthy & Moore Salisbury House Station Road Cambridge CB1 2LA Bankers Lloyds Bank plc King Street Saffron Walden Essex CB10 1HF Saffron Building Society 1 Market Street Saffron Walden Essex CB10 1HX |
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Docusign Envelope ID: C73C54D3-F1E6-4C6A-8167-DDFCE4BE52C4
SAFFRON WALDEN NURSERY SCHOOL
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022
The Trustees present their annual report together with the financial statements of the Charity Saffron Walden Nursery School for the year ended 31 August 2022. The Trustees confirm that the Annual Report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition of the Charities SORP October 2019, effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
The Charity was established to advance the education of pre-school children by providing a suitable environment for them. Each child should find opportunity through play and companionship at their own age, to develop all their own powers to the full, under the supervision and guidance of qualified, highly trained staff.
The Trustees have paid due regard to the Charity Commission guidance on public benefit and their operation of the Nursery School reflects this in the following ways:
a) The Charity is a partner in the government’s Nursery Grant scheme and parents of children aged three and over may claim up to 5 sessions per week under this arrangement.
b) The Charity supports the education and training of future childcare providers by the provision of work experience placements.
c) Being mindful of its charitable status, the Charity maintains fees at as low a level as possible to cover its running costs.
d) The Trustees provide their professional skills and services as unpaid volunteers in order to retain fees at a minimum level.
ACHIEVEMENTS AND PERFORMANCE
REVIEW OF ACTIVITIES
During the year under review the Charity continued its principal activity and was able to provide care and education for children aged 0-5 years from it’s Shire Hill premises. The Charity is run by unpaid volunteers, with the main governing body of trustees being referred to as the “management Committee”. Day to day management of the charity is delegated by the trustees to the Nursery Manager who reports to the Management Committee on a regular basis. The Nursery is an inclusive setting and provides care for children with a range of abilities from a variety of backgrounds under the supervision of the SENCo, ENCo and Nursery Manager.
The Charity received an Ofsted inspection in November 2022. The Nursery School was awarded “Inadequate” in all areas. Since this inspection, the Trustees have overseen significant improvements in the operations of the Charity, resulting in the most recent Ofsted inspection performed in April 2024 rating the nursery as "Good" in all areas.
The Charity has capacity for up to 49 children session. Average daily attendance in 2021/2022 was 30 children.
INVESTMENT POLICY
There are no specific investment powers governing the investments of the Charity. In practice, all cash surplus to immediate needs is held in an interest bearing deposit account with Lloyds Bank plc.
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SAFFRON WALDEN NURSERY SCHOOL
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
FINANCIAL REVIEW AND RESERVES POLICY
The Charity had restricted funds of £16,797 at the end of the year (2021: £18,230) as described in note 15 to the financial statements. The balance of reserves of £164,829 (2021: £162,146) is available to support the general purpose of the Charity without restriction.
The Trustees set a level of fees for the year that they believe will cover the estimated expenditure, on the basis of a realistic number of enrolments. The Trustees are of the opinion that the Charity's minimum reserve should be sufficient to cover 3 months salaries and running costs, which would equate to about £30,000 per annum. The Charity's free reserves at the end of the year were below the required level due to insufficient fees following the restricted intake of children following the inadequate Ofsted judgment.
The Trustees have considered the impact on future income streams and planned activities. The nursery is fully booked for the next 2 academic years.
STRUCTURE, GOVERNANCE AND MANAGEMENT
LEGAL STATUS AND TRUSTEES
The Charity is an unincorporated entity governed under a trust deed established in 1972 and is registered with the Charity Commission under number 308228.
The School is registered as an Early Years Provider with Ofsted to accommodate children from the ages of two to four.
The Trustees who served during the year were as follows:
Zoe Diggons (resigned 30 July 2022) Clare McPartland Elizabeth Wilson (Chair from 10 January 2022) Catriona Rubin (resigned 29 October 2021) Jennifer McDonald (resigned 10 January 2022) Lesli Goddard (resigned 10 January 2022) Vicki Taylor (resigned 10 January 2022) Sally Petts (appointed 4 February 2022)
Trustees are elected by a simple vote at the Annual General Meeting or, subsequently, by a majority vote of Trustees in office at the time. The Management Committee endeavour to recruit Trustees who will provide valuable and practical skills to the charity.
RISK MANAGEMENT
The Charity takes responsibility for the well being of a number of young children. Special procedures are in place for child supervision at all times. The Charity has insurance cover in place to cover all major business risks. This is reviewed annually.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
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 & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial
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SAFFRON WALDEN NURSERY SCHOOL
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 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 irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ Elizabeth Wilson Trustee
Date: 28 April 2025
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SAFFRON WALDEN NURSERY SCHOOL
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2022
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SAFFRON WALDEN NURSERY SCHOOL ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2022.
RESPONSIBILITIES AND BASIS OF REPORT
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed 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. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales , which is one of the listed bodies.
Your attention is drawn to the fact that the Charity has prepared the accounts 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) 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 been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters, other than those fully detailed below, have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
the accounts 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.
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
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INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
EMPHASIS OF MATTER - FINANCIAL STATEMENTS PREPARED ON A BASIS OTHER THAN GOING CONCERN
I draw attention to note 1.2 in the financial statements which indicates that the financial statements have been prepared on a basis other than that of a going concern.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed:
Mrs K Bretherick
Dated: 28 April 2025
FCA
For and on behalf of Peters Elworthy & Moore Chartered Accountants Cambridge. CB1 2LA
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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022
| Note INCOME FROM: Donations and legacies 2 Charitable activities 4 Investments 3 Other income 5 TOTAL INCOME EXPENDITURE ON: Charitable activities 6 TOTAL EXPENDITURE NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward Net movement in funds TOTAL FUNDS CARRIED FORWARD |
Restricted funds 2022 £ - - - - - 1,433 1,433 (1,433) 18,230 (1,433) 16,797 |
Unrestricted funds 2022 £ 106 254,641 411 - 255,158 252,475 252,475 2,683 162,146 2,683 164,829 |
Total funds 2022 £ 106 254,641 411 - 255,158 253,908 253,908 1,250 180,376 1,250 181,626 |
Total funds 2021 £ 515 166,356 1 15,344 |
|---|---|---|---|---|
| 182,216 222,982 |
||||
| 222,982 (40,766) 221,142 (40,766) |
||||
| 180,376 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 21 form part of these financial statements.
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SAFFRON WALDEN NURSERY SCHOOL
BALANCE SHEET AS AT 31 AUGUST 2022
| Note FIXED ASSETS Tangible assets 11 CURRENT ASSETS Stocks 12 Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 NET CURRENT ASSETS TOTAL NET ASSETS CHARITY FUNDS Restricted funds 15 Unrestricted funds 15 TOTAL FUNDS |
123 3,674 69,560 73,357 (29,629) |
2022 £ 137,898 43,728 181,626 16,797 164,829 181,626 |
176 11,200 48,798 60,174 (25,781) |
2021 £ 145,983 34,393 |
|---|---|---|---|---|
| 180,376 | ||||
| 18,230 162,146 |
||||
| 180,376 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
Elizabeth Wilson Trustee
Date: 28 April 2025
The notes on pages 9 to 21 form part of these financial statements.
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SAFFRON WALDEN NURSERY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
1. ACCOUNTING POLICIES
1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (second edition October 2019, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Saffron Walden Nursery School 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.
There were no significant estimates or judgements made by management in preparing these financial statements.
1.2 GOING CONCERN
The Trustees have reviewed the financial position of the Charity and have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future.
At the AGM on 3 March 2020 the Trustees resolved that it is in the best interest of the Charity to change from an unincorporated association to a charitable incorporated organisation. The Trustees plan to register a new CIO using the model CIO Constitution for Childcare Providers 2013. The Trustees have referred to Charity Commission guidance CC22a. Once registered, all activities will be transferred to the new organisation, including all assets and liabilities, subject to first obtaining the consent of the Pre-school Learning Alliance.
At the date of approval of these accounts the application to register the new CIO had not been made however for the reasons set out above the financial statements have been prepared on a basis other than going concern. Assets have been reviewed by the Trustees and are measured at their recoverable amount, no onerous committed liabilities have been identified. The change in basis of preparation required no adjustment to the amounts reported in the financial statements on a going concern basis prior to the announcement of the controlled transfer of activities to the new CIO.
1.3 FUND ACCOUNTING
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
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SAFFRON WALDEN NURSERY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
1. ACCOUNTING POLICIES (CONTINUED)
1.4 INCOME
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Where incoming resources have related expenditure (as with fundraising) the incoming resources and related expenditure are reported gross in the Statement of Financial Activities.
Parent and third party fees are recognised in the period to which they relate, with any fees received in advance being deferred.
Donations are included in the Statement of Financial Activities when received.
Grant income is recognised by the Charity when there has been notification of the amount and the settlement date. In the event that a grant is subject to conditions that require a level of performance before the Charity is entitled to those funds, the income is deferred. If a grant is subject to strict terms as to the use of those funds, the grant is treated as a restricted fund and accounted for accordingly. Where the receipt of grant income is contingent on certain aspects, such that the Charity does not have full entitlement and is not able to accurately establish measurement of the income, it is disclosed as a contingent asset in the accounts.
Income from 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.
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.
Support costs are those costs incurred directly in support of expenditure on the objects of the Charity. Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements. This includes the costs of the preparation and examination of the statutory financial statements, the costs of Trustees' meetings and the cost of any legal advice given to the Trustees on governance or constitutional matters.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
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SAFFRON WALDEN NURSERY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
1. ACCOUNTING POLICIES (CONTINUED)
1.6 TANGIBLE FIXED ASSETS AND DEPRECIATION
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
- Short-term leasehold property Over period of the lease Office equipment - 20%
Leasehold building additions are to be fully depreciated to a date coterminous with the end of the original lease of the buildings. No depreciation is applied until a project is complete.
1.7 STOCKS
Stocks are valued at the lower of cost and net realisable value (sale price less any costs of selling) after making due allowance for obsolete and slow-moving stocks.
1.8 DEBTORS
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.9 CASH AT BANK AND IN HAND
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.10 LIABILITIES AND PROVISIONS
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
1.11 FINANCIAL INSTRUMENTS
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
2. INCOME FROM DONATIONS AND GRANTS
| PPE Grants Donations TOTAL 2022 TOTAL 2021 |
Restricted funds 2022 £ - - - 500 |
Unrestricted funds 2022 £ - 106 106 15 |
Total funds 2022 £ - 106 106 515 |
Total funds 2021 £ 500 15 |
|---|---|---|---|---|
| 515 | ||||
The grant of £500 received in 2021 from Essex County Council was for PPE equipment. There were no other conditions attached to the grant.
3. INVESTMENT INCOME
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Interest received | 411 | 411 | 1 |
In 2021 all investment income was attributed to unrestricted funds.
4. INCOME FROM CHARITABLE ACTIVITIES
| School fees Trips, photos, sweatshirts etc TOTAL 2022 |
Unrestricted funds 2022 £ 253,588 1,053 254,641 |
Total funds 2022 £ 253,588 1,053 254,641 |
Total funds 2021 £ 165,052 1,304 |
|---|---|---|---|
| 166,356 |
In 2021 all of the income from charitable activities was attributed to unrestricted funds.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
5. OTHER INCOME
| Coronavirus Job Retention Scheme income TOTAL 2021 |
Unrestricted funds 2022 £ - 15,344 |
Total funds 2022 £ - 15,344 |
Total funds 2021 £ 15,344 |
|---|---|---|---|
Income from the Coronavirus Job Retention Scheme was received for furloughed workers. This was spent on staff wages and salaries.
6. ANALYSIS OF CHARITABLE EXPENDITURE
| Direct costs TOTAL 2021 |
Direct costs 2022 £ 237,086 212,486 |
Grant funding of activities 2022 £ 53 - |
Support & governance costs 2022 £ 16,769 10,496 |
Total funds 2022 £ 253,908 222,982 |
Total funds 2021 £ 222,982 |
|---|---|---|---|---|---|
In 2022 £252,475 (2021: £222,049) of charitable expenditure was attributed to unrestricted funds and £1,433 (2021: £933) was attributed to restricted funds.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
6. ANALYSIS OF CHARITABLE EXPENDITURE (CONTINUED)
ANALYSIS OF DIRECT COSTS
| Staff costs Utilities & Rates Depreciation Other expenditure Repairs and maintenance Nursery and play equipment Cleaning and hygiene Bank charges Insurance Supplies and consumables Subscriptions Clothing for re-sale TOTAL 2022 ANALYSIS OF SUPPORT COSTS Staff Training Telephone and internet Office and stationery Legal and professional fees TOTAL 2022 |
Direct costs 2022 £ 199,127 5,880 8,085 3,047 530 2,015 7,084 592 1,935 6,082 2,709 - 237,086 Support and governance costs 2022 £ 2,540 1,630 5,676 6,923 16,769 |
Total funds 2022 £ 199,127 5,880 8,085 3,047 530 2,015 7,084 592 1,935 6,082 2,709 - 237,086 Total funds 2022 £ 2,540 1,630 5,676 6,923 16,769 |
Total funds 2021 £ 183,391 5,286 8,267 1,455 1,443 1,025 2,288 712 2,578 4,845 883 313 |
|---|---|---|---|
| 212,486 | |||
| Total funds 2021 £ 626 650 4,047 5,173 |
|||
| 10,496 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
7. ANALYSIS OF GRANTS
| Grants to Individuals 2022 £ Grants 53 8. INDEPENDENT EXAMINER'S REMUNERATION Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts Fees payable to the Charity's independent examiner in respect of: Preparation of the annual accounts |
Total funds 2022 £ 53 2022 £ 1,535 1,065 |
Total funds 2021 £ - |
|---|---|---|
| 2021 £ 1,444 1,000 |
9. STAFF COSTS
Staff costs were as follows:
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2022 £ 193,946 2,195 2,986 199,127 |
2021 £ 178,946 1,569 2,876 |
|---|---|---|
| 183,391 |
The average number of persons employed by the Charity during the year was as follows:
| 2022 | 2021 | ||
|---|---|---|---|
| No. | No. | ||
| Provision of school service | 20 | 18 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
9. STAFF COSTS (CONTINUED)
No employee received remuneration amounting to more than £60,000 in either year.
The Charity considers its key management personnel to be the Trustees, the Nursery Manager and the Bursar. During the year the Nursery Manager and the Bursar received remuneration including employer's pension and national insurance totalling £42,169 (2021: £23,643). Remuneration comprises gross salaries, employer's national insurance and employer's pension contributions.
10. TRUSTEES' REMUNERATION AND EXPENSES
During the year, Elizabeth Wilson and Lesli Goddard received remuneration for acting as Manager and Bursar of the Nursery, respectively. The remuneration is permitted under the Charity's Constitution. In setting remuneration, the Trustees have had due regard to managing conflicts of interest, setting fair pay and ensuring the employment is in the best interests of the Charity. The remuneration, pension contributions and any other benefits were as follows:
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Elizabeth Wilson | Remuneration | 2,905 | - |
| Pension contributions paid | 12 | - | |
| Lesli Goddard | Remuneration | 2,955 | 5,181 |
| Pension contributions paid | 91 | 155 |
During the year ended 31 August 2022, no Trustee expenses have been incurred (2021 - £NIL).
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
11. TANGIBLE FIXED ASSETS
| COST At 1 September 2021 At 31 August 2022 DEPRECIATION At 1 September 2021 Charge for the year At 31 August 2022 NET BOOK VALUE At 31 August 2022 At 31 August 2021 12. STOCKS Goods for resale |
Short-term leasehold property £ 275,480 275,480 129,497 8,085 137,582 137,898 145,983 |
Office equipment £ 9,325 9,325 9,325 - 9,325 - - 2022 £ 123 |
Total £ 284,805 |
|---|---|---|---|
| 284,805 | |||
| 138,822 8,085 |
|||
| 146,907 | |||
| 137,898 | |||
| 145,983 | |||
| 2021 £ 176 |
The figure above represents clothing held for re-sale by the Nursery School bearing the School's logo.
13. DEBTORS
| DUE WITHIN ONE YEAR Trade debtors Prepayments and accrued income |
2022 £ 2,685 989 3,674 |
2021 £ 11,200 - |
|---|---|---|
| 11,200 |
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Docusign Envelope ID: C73C54D3-F1E6-4C6A-8167-DDFCE4BE52C4
SAFFRON WALDEN NURSERY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Other creditors (balance with Charity Payroll Service) Accruals and deferred income DEFERRED INCOME Deferred income at 1 September 2021 Council funding towards school fees received in advance Amounts released from previous periods DEFERRED INCOME AT 31 AUGUST 2022 |
2022 £ 5,073 6,871 17,685 29,629 2022 £ 17,074 14,465 (17,074) 14,465 |
2021 £ - 6,266 19,515 |
|---|---|---|
| 25,781 2021 £ 10,952 17,074 (10,952) |
||
| 17,074 |
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Docusign Envelope ID: C73C54D3-F1E6-4C6A-8167-DDFCE4BE52C4
SAFFRON WALDEN NURSERY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
15. STATEMENT OF FUNDS
STATEMENT OF FUNDS - CURRENT YEAR
| UNRESTRICTED FUNDS General Funds RESTRICTED FUNDS Building Fund PPE fund TOTAL OF FUNDS |
Balance at 1 September 2021 £ 162,146 17,730 500 18,230 180,376 |
Income £ 255,158 - - - 255,158 |
Expenditure £ (252,475) (933) (500) (1,433) (253,908) |
Balance at 31 August 2022 £ 164,829 |
|---|---|---|---|---|
| 16,797 - |
||||
| 16,797 | ||||
| 181,626 |
Restricted funds
The Building fund was established to raise funds specifically for the provision of the new school building (opened 1989). The remaining fund is now represented by fixed assets.
PPE fund - A grant was received from Essex County Council to purchase PPE and enable the nursery to keep open safely.
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Docusign Envelope ID: C73C54D3-F1E6-4C6A-8167-DDFCE4BE52C4
SAFFRON WALDEN NURSERY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
15. STATEMENT OF FUNDS (CONTINUED)
STATEMENT OF FUNDS - PRIOR YEAR
| UNRESTRICTED FUNDS General Funds - all funds RESTRICTED FUNDS Building Fund PPE fund TOTAL OF FUNDS |
Balance at 1 September 2020 £ 202,479 18,663 - 18,663 221,142 |
Income £ 181,716 - 500 500 182,216 |
Expenditure £ (222,049) (933) - (933) (222,982) |
Balance at 31 August 2021 £ 162,146 |
|---|---|---|---|---|
| 17,730 500 |
||||
| 18,230 | ||||
| 180,376 |
16. RELATED PARTY TRANSACTIONS
Other than the remunueration paid to Trustees disclosed in note 10, there were no other disclosable transactions.
17. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR
| Tangible fixed assets Current assets Creditors due within one year TOTAL |
Restricted funds 2022 £ 16,797 - - 16,797 |
Unrestricted funds 2022 £ 121,101 73,357 (29,629) 164,829 |
Total funds 2022 £ 137,898 73,357 (29,629) |
|---|---|---|---|
| 181,626 |
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Docusign Envelope ID: C73C54D3-F1E6-4C6A-8167-DDFCE4BE52C4
SAFFRON WALDEN NURSERY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
17. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED)
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
| Tangible fixed assets Current assets Creditors due within one year TOTAL |
Restricted funds 2021 £ 17,730 500 - 18,230 |
Unrestricted funds 2021 £ 128,253 59,674 (25,781) 162,146 |
Total funds 2021 £ 145,983 60,174 (25,781) |
|---|---|---|---|
| 180,376 |
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