Boxmoor Private Nursery
Report and Financial Statements Year ended: 31* July 2023
Charity no: 325123
Boxmoor Private Nursery
Contents
Year ended 31 July 2023
Trustees’ Annual Report
Independent Examiners’ Report
Statement of Financial Activities (SOFA)
Balance Sheet
Pages1-—3
Pages4-—5
Page 6
Page 7
Notes to Accounts
Pages 8-12
Boxmoor Private Nursery
Trustees’ Annual Report
Year ended 31 July 2023
Report of the trustees for the year ended 31 July 2023
The trustees present their annual report and financial statements of the charity for the year ended 31* July 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16" July 2014.
Objectives and activities for the public benefit 31* July 2023
We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives in planning our future activities. The Pre-school is a non-profit organisation focusing on the needs and development of children. Profits are re-invested in to new equipment and resources for the children play.
Reference and administrative information
Trustees
Elizabeth Barratt, Chair Claire Holly, Secretary Lauren Carr, Treasurer Gemma Dawson, Ordinary Member Lara Elborn, Ordinary Member Charis Stacey-Wingrove, Ordinary Member
The Committee hold an annual meeting and all Trustees are nominated and appointed during this meeting. All members vote on the proposal and unanimous votes are actioned immediately.
Principal Office: Cowper Road, Boxmoor, Hemel Hempstead, Herts, HP1 1PF
Charity Number: 325123
Bankers: Lloyds Bank, 198-200 The Marlowes, Hemel Hempstead
Accountants: Bracey’s Accountants Hemel Hempstead Limited, Kings House, Home Park Estate, Station Road, Kings Langley, WD4 8LZ
Page 1
Boxmoor Private Nursery
Trustees Annual Report (continued)
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed oftrust, and constitutes an unincorporated charity.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The risks are considered to be adequately managed by the trustees.
The trustees are appointed by committee.
Achievements and performance
The nursery has performed consistently and achieved the levels of fee paying children and grant income necessary to fund the ongoing nursery activities.
Financial review
The charity has sufficient reserves at 31% July 2023 to continue with its activities and has made the necessary provisions for potential costs such as back-dated rent as an example. A surplus has been reported in the year of £16,047 (2022: £25,231 deficit). The reserves stood at £28,957 (2022: £12,910) at the year-end which the committee feels is sufficient to meet the reserves policy of the charity.
Reserves policy
The charity looks to retain sufficient reserves that cover at least 6 months of operating expenses. Given the nature of the charity work, the charity has a relatively small cost base.
Plans for the future
The charity looks to continually invest in the equipment and resources that the children use and benefit from. The charity also looks to ensuring their staff remain fully trained and create a good atmosphere in the charity for all children, their families and staff.
Page 2
Boxmoor Private Nursery
Trustees Annual Report (continued) Year ended 31 July 2023
Trustees’ responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees’ annual report and 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 to the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:
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e Select suitable accounting policies and then apply them consistently; e Observe the methods and principles in the applicable Charities SORP; ¢ Make judgements and estimates that are reasonable and prudent;
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e State whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements;
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e 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 proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements 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 taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
Approved by the trustees on ...............+.. and signed on their behalf by:
Elizabeth Barratt
CHAIRPERSON
Page 3
Boxmoor Private Nursery
Independent Examiner’s Report
Year Ended 31 July 2023
Independent examiner’s report to the charity trustees of Boxmoor Private Nurse
| report on the accounts of the charity for the year ended 31 July 2023, which are set out on pages 6 to 12.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the Act”).
The charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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- to follow the applicable Directions given by the Charity Commission (under section 145(5)(b) of the Act, and
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- to state whether particular matters have come to my attention
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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- the accounts did not accord with the accounting records; or - the accounts did 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. | have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached
Page 4
Boxmoor Private Nursery
Independent Examiner’s Report (continued) Year Ended 31 July 2023
Graham Booth FCCA
For and on behalf of Bracey’s Accountants Hemel Hempstead
Dated:
Page 5
Boxmoor Private Nursery Statement of Financial Activities (SOFA) for the year ending 31st July 2023
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||||||||
|---|---|---|---|---|---|---|
|Note|Unrestricted funds|Total funds 2023|Total funds 2022|
|£|£|£|
|Income|
|Funding income|3|85,619|85,619|66,431|
|Parent|income|4|42,221|42,221|39,128|
|Investment|income|5|16|16|1|
|Total|income|127,856|127,856|105,560|
|Expenditure|
|Expenditure on|charitable|activities:|7|111,809|111,809|130,791|
|Total expenditure|111,809|111,809|130,791|
|Net movement|in funds|16,047|16,047|.|25,231|
|Reconciliation|of Funds|
|Total funds|brought forward|12,910|12,910|38,141|
|Total funds|carried forward|28,957|28,957|12,910|
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Page 6
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Boxmoor Private Nursery
Balance Sheet
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As at 31 July 2023
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Note Unrestricted funds Total funds 2023 Prior year 2022
£ £ £
Fixed assets:
Tangible assets 10 1,181 1,181 1,576
1,181 1,181 1,576
Total fixed assets
Current assets:
Cash at bank and in hand 37,963 37,963 23,454
Total current assets 37,963 37,963 23,454
Liabilities:
Creditors falling due within 10,187 10,187 12,120
one year
Net current assets 27,776 27,776 11,334
Total assets less current 28,957 28,957 12,910
liabilities
Net assets 28,957 28,957 12,910
The funds of the charity:
Unrestricted income funds 9 28,957 28,957 12,910
Total charity funds 28,957 28,957 12,910
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The notes at pages 8-12 form part of these accounts.
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Approved by the trustees on and signed on their behalf:
E Barratt CHAIRPERSON
Page 7
Notes to the Accounts
Year Ended 31 July 2023
Boxmoor Private Nursery
1. Accounting Policies
(a) Basis of preparation and assessment of going concern
The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16" July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The charity constitutes a public benefit entity defined by FRS 102
The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. There are no key assumptions made in the preparation of these accounts.
(b) Income recognition
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 from the local authority is received each term for the number of qualifying pupils. Amounts are accrued and deferred where necessary. The funding for each term is received prior to the term starting and is recognised in the relevant period.
Income from parents is recognised when due. Amounts are accrued and deferred where necessary.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification by the bank.
(c) Expenditure recognition
Liabilities are recognised as expenditure as soon as there is legal or constructive obligation committing the charity to the expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are all allocated or appointed to the applicable expenditure headings. For more information on this attribution refer to note (d) below.
(d) Allocation of support and governance costs
Support costs have been allocated between governance and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include an apportionment of overhead and support costs, the overhead allocation has been allocated to governance costs on the basis of staff time as detailed in note 7.
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Year Ended 31 July 2023
Boxmoor Private Nursery
Notes to the Accounts
(e) Costs of raising fund
The costs of generating funds consist of advertising and direct expenses associated with attracting new children to our charity.
(f) Charitable activities
Costs of charitable activities primarily include the costs associated with running the charity, namely staff costs, there is also an allocation of governance and support costs included.
(g) Tangible fixed assets and depreciation
All fixed assets are recorded at cost. Depreciation is provided to write assets off over their useful economic life, as follows
Plant and Machinery: 25% reducing balance
Fixtures and Fittings: 25% reducing balance
Any profit or loss arising on the disposal of fixed assets is recognised within the SOFA. Fixed assets are regularly reviewed for impairment, any impairment adjustment is written off to the SOFA in the period it was identified.
2. Related party transactions and trustees’ expenses and remuneration
The key management of the charity is considered to be the board of trustees only. They received no remuneration, benefits nor reimbursed expenses in the current period or the comparative period.
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Boxmoor Private Nursery Notes to the Accounts Year Ended 31 July 2023
3. FUNDING INCOME
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Unrestricted funds Total funds 2023
(3 £
Funding income 85,619 85,619
_eeeeeeeeEEE———e ee
All income received in both periods was all unrestricted.
4. NURSERY FEES
Unrestricted funds Total funds 2023
£ £
Nursery fees 42,221 42,221
ee
All income received in both periods was all unrestricted.
5. INVESTMENT INCOME
Unrestricted funds Total funds 2023
£ €
Bank interest receivable ——————————— 16 16
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Unrestricted funds Total funds 2022
£ £
SSeeeeey————ESESSSESEaa66,431 66,431
Unrestricted funds Total funds 2022
€ £
39,128 39,128
en
Unrestricted funds Total funds 2022
£ €
————————1 1
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- SUPPORT AND GOVERNANCE COSTS
The breakdown of support costs and how these were allocated between governance and other support costs is shown in the table:
| 2023 | |||
|---|---|---|---|
| Total | Othersupportcosts | Governancecosts | |
| Staffcosts | 19,685 | 9,843 | 9,843 |
| Subscriptionsandfees | 1,302 | 1,067 | 235 |
| Postage, printingand stationary | 523 | 428 | 95 |
| Subsistence | 742 | 608 | 134 |
| Telephone and internet | 726 | 595 | 131 |
| Repairsandrenewals | 3,812 | 3,123 | 689 |
| Insurance&prof.fees | 1,995 | 1,634 | 361 |
| Rent, Light, rates andwater | 6,514 | 5,336 | 1,178 |
| Depreciation | 395 | 324 | 71 |
| Computerexpenses | : | : | |
| 35,694 | 22,957 | 12,737 | |
| 2022 | |||
| Total | Othersupportcosts | Governance costs | |
| Staffcosts | 18,889 | 9,445 | 9,445 |
| Subscriptions andfees | 1,288 | 1,056 | 232 |
| Postage, printingand stationary | 1,553 | 1,273 | 280 |
| Subsistence | 347 | 285 | 62 |
| Telephone and internet | 944 | 774 | 170 |
| Repairsandrenewals | 8,850 | 7,257 | 1,593 |
| Insurance& prof.fees | 5,391 | 4,421 | 970 |
| Light, ratesandwater | 3,282 | 2,691 | 591 |
| Depreciation | 525 | 431 | 95 |
| Computerexpenses | 166 | 136 | 30 |
| 41,235 | 27,768 | 13,467 |
All nursery workers staff costs are allocated to charitable activities (see note 7). Other staff costs are allocated to support and governance costs on a 50/50 basis which is representative of the actual time spent on each area. In allocating support costs, an allocation has been awarded to governance costs on the percentage of this staff cost against total staff costs, the remaining overhead has been allocated to other support costs. There are then specific governance costs which have been listed below together with its overhead allocation that has been noted above.
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Governance costs
2023 2022
Accountancy 1,491 1,385
Support costs (above) 12,737 13,467
14,228 14,852
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Page 10
Boxmoor Private Nursery Notes to the Accounts Year Ended 31 July 2023
7. CHARITABLE ACTIVITIES
| 7. CHARITABLE ACTIVITIES | ||||
|---|---|---|---|---|
| 2023 | ||||
| Supportand | ||||
| Nursery costs | governance costs | Total | ||
| Resources | 3,375 | 3,375 | ||
| Staff costs | 70,945 | 70,945 | ||
| Staff training | 304 | 304 | ||
| Subscription and fees | . | |||
| Support costs (note 6) | 22,957 | 22,957 | ||
| Governance costs (note 6) | 14,228 | 14,228 | ||
| 74,624 | 37,185 | 111,809 | ||
| 2022 | ||||
| Support and | ||||
| Nursery costs | governance costs | Total | ||
| Resources | 3,269 | 3,269 | ||
| Staffcosts | 84,565 | 84,565 | ||
| Stafftraining | 337 | 337 | ||
| Subscription and fees | - | - | ||
| Support costs (note 6) | 27,768 | 27,768 | ||
| Governance costs (note 6) | 14,852 | 14,852 | ||
| 88,171 | 42,620 | 130,791 |
The charities activity is solely running and maintaining the nursery. Support and governance costs are therefore wholly attributable to running one charitable activity and have therefore not been allocated further.
8. STAFF COSTS AND EMOLUMENTS
| 8. STAFF COSTS ANDAND EMOLUMENTS | |||
|---|---|---|---|
| 2023 | 2022 | ||
| Total staffcosts were as follows: | |||
| £ | £ | ||
| Wagesand salaries inc NI | 89,308 | 102,044 | |
| Pension costs | 1,322 | 1,409 | |
| 90,630 | 103,453 | ||
| Particulars ofemployees: | |||
| The averagenumber ofemployees duringtheyear,was asfollows: | |||
| Administrative | 1 | 1 | |
| Nurseryworkers | 7 | 9 | |
| 8 | 10 |
No employee received remuneration of more than £60,000 during the year (2022-Nil).
9. FUNDS HELD
All of the charity's income is classified as unrestricted income. All income received is provided to meet the objectives of the charity and the income is not specifically restricted.
All expenditure incurred is carefully considered by the trustees to ensure that all expenditure incurred is appropriate in meeting the charity's objectives. Expenditure largely consists of staff costs, learning resources and general running costs. There are no designated or restricted expenditure to record in the current or previous periods.
Page 11
Boxmoor Private Nursery Notes to the Accounts Year Ended 31 July 2023
10. FIXED ASSETS
| Furniture, fittings | and | ||||
|---|---|---|---|---|---|
| Plantand machinery equipment Total ee ere |
|||||
| Cost | |||||
| At 1August2022 | 1,289 | 16,674 | 17,963 | ||
| Additions | - | - | - | ||
| Disposals At31July2023 |
. ee ee 1,289 a |
- ee ee 16,674 a) ir |
- en a 17,963 |
||
| Depreciation | |||||
| At 1August 2022 | 955 | 15,432 | 16,387 | ||
| Chargeforthe year | 84 | 311 | 395 | ||
| Eliminated on disposals | - | - | : | ||
| At31July2023 | 1,039 15,743 16,782 a I WISE |
||||
| Net bookvalue | |||||
| At31July2023 | 250 | 931 | 1,181 | ||
| At31July2022 | 334 | 1,242 | 1,576 |
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