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 2023
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 - 20 |
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SAFFRON WALDEN NURSERY SCHOOL
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2023
| Trustees | Clare McPartland (resigned 28 February 2023) |
|---|---|
| Elizabeth Wilson | |
| Sally Petts | |
| 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 Elizabeth Wilson (from May 2022) Barbara James Caroline Clark Jennifer Dear 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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SAFFRON WALDEN NURSERY SCHOOL
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2023
The Trustees present their annual report together with the financial statements of the Charity Saffron Walden Nursery School for the year ended 31 August 2023. 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).
Saffron Walden Nursery School continues to provide a safe, stimulating, and nurturing environment for early years education in the local community. Our mission is to support every child’s development, learning, and wellbeing through high-quality, inclusive provision.
OBJECTIVES AND ACTIVITIES
The Charity’s objective is to advance the education and development of children aged 9 months to 5 years by providing early years education and care that meets the highest standards. We aim to be fully inclusive, providing places for children regardless of background, need, or ability.
The Trustees confirm that they have complied with their duty under section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit. Our activities throughout the year have supported these aims.
ACHIEVEMENTS AND PERFORMANCE
Despite ongoing sector-wide challenges, 2022–2023 has been a successful year for Saffron Walden Nursery School.
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Enrolment : We supported 89 children during the academic year, maintaining healthy occupancy across terms.
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Quality and Standards : Our dedicated staff team has continued to deliver an engaging and well-balanced curriculum aligned with the Early Years Foundation Stage (EYFS). Parental feedback remains overwhelmingly positive, despite our recent Ofsted inspection rating of Inadequate in November 2022 (raised to Requires Improvement in May 2023). We have shown our commitment to improving quality and ensuring the best opportunity for the children in our care. This commitment resulted in an Ofsted rating of 'Good' in April 2024.
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Staff Development : Staff undertook regular training in safeguarding, first aid, and early childhood pedagogy. We recognise that a knowledgeable and motivated team is at the heart of our provision.
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Fundraising and Community Engagement : Our focus has been to build our parent partnership through open days and play sessions. Donations have come in terms of new resources via a wish list. We have had financial donations from Saffron Walden United Charities, to reduce unpaid invoices of families in financial crisis, a local setting closed and gifted us a sum of money and a local shop and the Rotary club made donations to allow us to make improvements to our outdoor space.
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SAFFRON WALDEN NURSERY SCHOOL
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023
FINANCIAL REVIEW
The financial year to 31 August 2023 showed careful financial management despite rising costs and uncertainty in early years funding.
-
Total Income: £272,209 (Includes Early Years Funding, parental fees, donations, and fundraising proceeds) (2022: £255,158).
-
Total Expenditure: £291,468 (Includes staffing, premises, materials, and operational costs) (2022: 253,908).
-
Net Position: The charity recorded a deficit of £19,259 (2022: surplus of £1,250).
The nursery remains financially stable. Trustees continued to monitor the budget closely, adapting where necessary to cost increases, particularly in staffing, utilities, and consumables.
RESERVES POLICY
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 were £16,690, which is below the minimum target range.
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:
Clare McPartland (resigned 28 February 2023) Elizabeth Wilson Sally Petts Sophie Brady (appointed 1 May 2023) Rachel Payne (appointed 16 February 2023)
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 Trustees maintain a risk register, reviewed termly, covering financial, operational, safeguarding, and compliance risks. Key risks identified in 2023 included:
-
Financial Pressures: Due to increasing costs and static government funding rates. We continue to monitor fee structures and pursue alternative income where possible.
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Staff Recruitment and Retention: Recruitment in the early years sector remains challenging. We remain
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SAFFRON WALDEN NURSERY SCHOOL
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023
focused on supporting staff well-being and offering professional development.
- Regulatory Compliance: We maintain robust systems to ensure we meet our obligations under Ofsted and charity law.
FUTURE PLANS
Looking ahead to 2023–2024, we plan to:
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Refresh our indoor learning spaces with updated furniture and sensory resources.
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Expand our outdoor provision to include a dedicated nature and planting area.
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Apply for local grants to support sustainability initiatives within the nursery.
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Continue investing in staff training with a focus on inclusive practice and communication skills.
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 statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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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.
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 2023
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 2023.
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:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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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 2023
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 2023
| Note INCOME FROM: Donations and grants 2 Charitable activities 5 Other trading activities 3 Investments 4 TOTAL INCOME EXPENDITURE ON: Charitable activities 6 TOTAL EXPENDITURE NET (EXPENDITURE)/INCOME & MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward Net movement in funds TOTAL FUNDS CARRIED FORWARD |
Restricted funds 2023 £ - - - - - 933 933 (933) 16,797 (933) 15,864 |
Unrestricted funds 2023 £ 6,017 265,432 348 412 272,209 290,535 290,535 (18,326) 164,829 (18,326) 146,503 |
Total funds 2023 £ 6,017 265,432 348 412 272,209 291,468 291,468 (19,259) 181,626 (19,259) 162,367 |
Total funds 2022 £ 106 254,641 - 411 |
|---|---|---|---|---|
| 255,158 | ||||
| 253,908 | ||||
| 253,908 | ||||
| 1,250 | ||||
| 180,376 1,250 |
||||
| 181,626 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 20 form part of these financial statements.
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BALANCE SHEET AS AT 31 AUGUST 2023
| 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 |
- 3,534 58,496 62,030 (29,476) |
2023 £ 129,813 32,554 162,367 15,864 146,503 162,367 |
123 3,674 69,560 73,357 (29,629) |
2022 £ 137,898 43,728 |
|---|---|---|---|---|
| 181,626 | ||||
| 16,797 164,829 |
||||
| 181,626 |
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 20 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 2023
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 2023
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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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
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 2023
2. INCOME FROM DONATIONS AND GRANTS
| Donations TOTAL 2022 |
Unrestricted funds 2023 £ 6,017 106 |
Total funds 2023 £ 6,017 106 |
Total funds 2022 £ 106 |
|---|---|---|---|
3. FUNDRAISING INCOME
Income from fundraising events
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2023 | 2023 | 2022 | |
| £ | £ | £ | |
| Fundraising events | 348 | 348 | - |
In 2022 all of the fundraising income was attributed to unrestricted funds.
4. INVESTMENT INCOME
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2023 | 2023 | 2022 | |
| £ | £ | £ | |
| Interest received | 412 | 412 | 411 |
In 2022 all investment income was attributed to unrestricted funds.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
5. INCOME FROM CHARITABLE ACTIVITIES
| School fees Trips, photos, sweatshirts etc TOTAL 2023 |
Unrestricted funds 2023 £ 264,160 1,272 265,432 |
Total funds 2023 £ 264,160 1,272 265,432 |
Total funds 2022 £ 253,588 1,053 |
|---|---|---|---|
| 254,641 |
In 2022 all of the income from charitable activities was attributed to unrestricted funds.
6. ANALYSIS OF CHARITABLE EXPENDITURE
| Direct costs TOTAL 2022 |
Direct costs 2023 £ 275,739 237,086 |
Grant funding of activities 2023 £ 123 53 |
Support & governance costs 2023 £ 15,606 16,769 |
Total funds 2023 £ 291,468 253,908 |
Total funds 2022 £ 253,908 |
|---|---|---|---|---|---|
In 2023 £290,535 (2022: £252,475) of charitable expenditure was attributed to unrestricted funds and £933 (2022: £933) was attributed to restricted funds.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
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 TOTAL 2023 ANALYSIS OF SUPPORT COSTS |
Direct costs 2023 £ 213,643 10,420 8,085 4,191 6,227 5,119 11,287 95 3,759 8,947 3,966 275,739 |
Total funds 2023 £ 213,643 10,420 8,085 4,191 6,227 5,119 11,287 95 3,759 8,947 3,966 275,739 |
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 | |||
| Staff Training Telephone and internet Office and stationery Legal and professional fees TOTAL 2023 |
Support and governance costs 2023 £ 4,520 1,934 2,211 6,941 15,606 |
Total funds 2023 £ 4,520 1,934 2,211 6,941 15,606 |
Total funds 2022 £ 2,540 1,630 5,676 6,923 |
|---|---|---|---|
| 16,769 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
7. ANALYSIS OF GRANTS
| Grants to Individuals 2023 £ Grants 123 TOTAL 2022 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 2023 £ 123 53 2023 £ 2,065 1,435 |
Total funds 2022 £ 53 |
|---|---|---|
| 2022 £ 1,535 1,065 |
9. STAFF COSTS
Staff costs were as follows:
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2023 £ 208,655 2,042 2,946 213,643 |
2022 £ 193,946 2,195 2,986 |
|---|---|---|
| 199,127 |
The average number of persons employed by the Charity during the year was as follows:
| 2023 | 2022 | ||
|---|---|---|---|
| No. | No. | ||
| Provision of school services | 22 | 20 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
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 Bursar received remuneration including employer's pension and national insurance totalling £37,276 (2022: £42,169). Remuneration comprises gross salaries, employer's national insurance and employer's pension contributions.
10. TRUSTEES' REMUNERATION AND EXPENSES
During the year, Elizabeth Wilson received remuneration for acting as Manager of the Nursery. 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:
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Elizabeth Wilson | Remuneration | 16,091 | 2,905 |
| Pension contributions paid | 296 | 12 | |
| Lesli Goddard | Remuneration | - | 2,955 |
| Pension contributions paid | - | 91 |
During the year ended 31 August 2023, no Trustee expenses have been incurred (2022 - £NIL).
11. TANGIBLE FIXED ASSETS
| COST At 1 September 2022 At 31 August 2023 DEPRECIATION At 1 September 2022 Charge for the year At 31 August 2023 |
Short-term leasehold property £ 275,480 275,480 137,582 8,085 145,667 |
Office equipment £ 9,325 9,325 9,325 - 9,325 |
Total £ 284,805 |
|---|---|---|---|
| 284,805 | |||
| 146,907 8,085 |
|||
| 154,992 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
11. TANGIBLE FIXED ASSETS (CONTINUED)
| NET BOOK VALUE At 31 August 2023 At 31 August 2022 |
Short-term leasehold property £ 129,813 137,898 |
Office equipment £ - - |
Total £ |
|---|---|---|---|
| 129,813 | |||
| 137,898 |
12. STOCKS
| 2023 | 2022 | |||
|---|---|---|---|---|
| £ | £ | |||
| Goods for resale | - | 123 |
Stock 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 |
2023 £ 2,687 847 3,534 |
2022 £ 2,685 989 |
|---|---|---|
| 3,674 |
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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 2023
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 2022 Council funding towards school fees received in advance Amounts released from previous periods DEFERRED INCOME AT 31 AUGUST 2023 STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR Balance at 1 September 2022 £ UNRESTRICTED FUNDS General Funds 164,829 RESTRICTED FUNDS Building Fund 16,797 TOTAL OF FUNDS 181,626 Restricted funds |
Income £ 272,209 - 272,209 |
2023 £ 4,527 6,916 18,033 29,476 2023 £ 14,465 10,713 (14,465) 10,713 Expenditure £ (290,535) (933) (291,468) |
2022 £ 5,073 6,871 17,685 |
|---|---|---|---|
| 29,629 2022 £ 17,074 14,465 (17,074) |
|||
| 14,465 Balance at 31 August 2023 £ 146,503 15,864 162,367 |
15. STATEMENT OF 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..
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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 2023
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 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 |
16. RELATED PARTY TRANSACTIONS
Other than the remuneration paid to Trustees disclosed in note 10, there were no related party transactions during the current or previous year.
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 2023 £ 15,864 - - 15,864 |
Unrestricted funds 2023 £ 113,949 62,030 (29,476) 146,503 |
Total funds 2023 £ 129,813 62,030 (29,476) |
|---|---|---|---|
| 162,367 |
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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 2023
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 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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