Charity registratlon number N1100480 Company registration number N1039031 {Northern Ireland) DRUMAHOE CHILDCARE LIMITED ANNUAL REPORT AqD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
DRUMAHOE CHILDCARE LIMITI=D LEGALAND ADMINISTRATIVE INFOF MATION Trustees C 3triona Coyle L >a Dunn R)bert Dunn A Jrian Johnston C..Ilian Simpson A idrew Tate L >ma Somers K?rrie O'Hara Secretary K3rrie O'Hara Charity number Ni100480 Company number Ni039031 Roglstored office C:0 Londonderry YMCA 5 i Glenshane Road D'umahoe L%)ndondery B r47 3SF Auditor P-S & Partners Limited 11 i Maln Street L mavady B r49 OEU Bankers D inske Bank 2 G18nshane Rd Li Indonderry B r47 2LN Solicitors Ti Irley Legal Ltd E iterprise Causeway K locklynn Road C )leraine B-52 1IVW
DRUMAHOE CHILDCARE LIMITI=D CONTENTS Page Trustees, report Independent auditorfs rewt Statement of financial activities B81ance sheet Statement of cash flows Notes to the financial ststements 10-19
DRUMAHOE CHILDCARE LIMITI=D TRUSTEES. REPORT (INCLUDING DII IECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 21123 The trustees present their annual report and financial statements for the year ended 31 March 2023. The financial ststements have been prepared in iccordance wrth the accounting pollcies set out in note 1 to lh8 financial statements and comply with the chariv ' Memorandum and Arkncles of Association, the Companies Act 2006 and "Accounting and Reporting by CharTlie >. Statement of Recommended Practice applicable to Gharities preparing their accounts in accordanc8 wtth the Fiiancial Reporng Standard applicable in the UK and Republic of Ireland (FRS 102). (effect¢ve 1 January 2019). Objectives and activities Thls document has been prepared based on the g lidan provided by the Charity Commission for Northem Ireland and Trustees have had regard to the Commissioii's Public Benefit requirement statutory guidan. The trusteès have paid due regard to guidance issued by the C iarity Commission for Northem Ireland in declding what activit16S th8 charity should undertake. Achlevemants and perfomjance The objectives and activities of the Gharity are to a Ivan the education of children O to primary 7 in Drumahoe, Co DerylLondondery and the wider Dery and Strakane District Council area. by providing care facilities for children from 7.45am to 6pm. Following the expansion of our services in 2019 <.ome Intemal operational improvements were implem8nted. The oulcom@ is improved efficiencles throughout the tjrganisation. We seek to continue leaming new strategies and itnplementing improvements in the coming months and years. The hard work and dedication of our staff and mai iagement team to provide a safe and welcoming environment for our childrén was recognised in a report from Socia Se5 following a routine inspaction in October 2022. We set up 8 fundraising committee in September ?022 to raise money for new outdoor equipment. The committee planned a serious of events which included Hallov¥aen hamper. supper with Santa. Easter basket and hav8 planned more events in summ8r 2023. Financlal revlew Drumahoe Childcare Limrted's financial y8ar runs f om 1 April to 31 March. The Board of Directors is r8sponsible for the contrc l and management of the organisation's financial budgeL We are a 'not for profit"organisation but our alm is to become sustainable without grant assistance. Thls year we welcomed the reduction of Cowd19 'èstriclions and guidelines. however, the war in Ukraine and the impact this had on our economy with the 'cost of lil ing crtsis" has proved financially difficult. In response to th8 challenging economic outlook and our commitrnent to providing a high quality service at an affordable cost for our families the fundraising sub £ommittee organised a number of events to help rais8 funds for indoor and OLrtdoor play equipment for the children Funding was recelved from Bright Start and Derry i Aty and Strabane District Councll. We wlll remain prudent as early predictions indica e the economic challenges are set to rxJnÉinue ft)r the upcoming year. Our reserves policy is equivalent to 3 months. ope 2tions costs and would cover redundanctes shoulj that situation aver arise. Plans for future periods We aim to review our vision, mission and values. ¢".longside our strategic plan and objectives to define the direction the organisation is travelling.
DRUMAHOE CHILDCARE LIMITI=D TRUSTEES. REPORT (INCLUDING DIIIECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 21123 structure. governance and management Drumahoe Childcare Limited has a M8morandim and ArtiCS of Association and is incorporated under the Companies Act 2006. We are a Company limited by guarantee. not havir g a share capital. The organisation is controlled and directed by a board of trustees. The manager is appointed lo run the daity activities of the organisation and reports to the bfy.ird of trustees at bHnonthly meetings. The quorum for a meeting is5. The trustèes, who are also the directors for the pupose of company law, and who served during the year and up to th8 date of signature of the financial statements WE re: Catriona Coyle Lisa Dunn Robert Dunn Adrfan Johnston Gillian Simpson Andrew Tate Loma Somars Kerrie O'Hara None of the trustees has any beneficial interest in I'.ie company. Atl of the trustees are members of the company and guarantee to contribute £1 in the event of a windin!J up. Statement of trustses. responsibilltles The trustees. who are also the directors of Druinahoe Childcare Limited for the purpose of company law, are responsible for preparing the Trustees, Report an( l the financial statements in accordance with applicabl8 law and United Kingdom Accounting Standards (United TrQn Idom GenerallyAcceptèd Accounting Practi). Company Law requires the trustees to prepare fin¢ ncial statements for each financial year which give a true and fair view of the state of affairs of the charity and of th. i incoming resources and application of resources, including the income and èxpenditure, of the Gharitable compani for that y8ar. In preparing these financial statements. the twstee > aré required to: - select Suitable accounting policies and then appfy them Consistently" - observe the methods and princÈples in the Charilit2S SORP". - make Judgements and estimates that are reason¢ ?le and prudent: state wh6ther applicable UK Accounting Stanc7rds have been follovml. subject to any material departures disclosed and explained in the financial statemenL< and prepare the financlal statsments on the going co icem basis unless tt is inappropriate to presume that the charity wlll continue in operation. The trustees are responsible for keeplng adequal i accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and en ible them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible or safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection ( f fraud and other irregularities. Auditor In accordance with the companys arbcles, a reso Jtion proposing that PFS & Partners Llmited be reappolnted as audilor ofthe company will be put at a General Mei..ting.
DRUMAHOE CHILDCARE LIMITI"D TRUSTEES. REPORT (INCLUDING DII IECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 21123 The trustees, report was approved by the Board of frustees. Kerri Trusteè ara Lisa Dunn Trustee 10 November 2023
DRUMAHOE CHILDCARE LIMITI=D INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF DRUMAHOE (:HILDCARE LIMITED Oplnlon We have audited the financial statements of Drum£ihoe Childcare Limited (the 'charity) for Iha year ended 31 March 2023 which comprise the statement of financial ac Ivities, the balance sheet. the ststement of cash flows and notes to the financial ststements, including significant aci ounting policies. The financial reporting framework that has been applied in their preparation is applicable law a Id United KÈngdom Accounting Standards, includlng Financial Reporting Standard 102 7h8 Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice) In our opinion, th8 financial stataments: give a true and fair view of the state of tha charttable CoMpanS affairs as at 31 March 2023 and of its incoming resoums and application of resoui 2s. for the year then ended., have been properfy prepared in accordancE with United Kingdom Generally Accepted Accounting Practice: and have be8n prepared in accordance with the rJquirements of the Companies Act 2006. Basis for oplnlon We conducted our audit in accordance vth Inter iational Standards on Auditing (UK) {IS4s (UK)) and applicable law. OLtr responsibilities under those standards art: further descrtbed in the Auditorfs responsibilities for the audit ol the financial statements section of our report. Wil are independent of the charity in accordance with the ethiGal requirements that are relevant to our audit of U e financial ststements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical rÉ iponsibilities in accordance wtth thes8 requirements. We believe that the audit evidence have obtsined is sufficiEfit and appropriate to provide a basis for our opinion. Conclusions relatlng to going concern In audillng Ihe financial statements, we have ctjncluded that the trustees, use of th8 going concem basis of accounting in the preparation of the financial stater ients is appropriat8. Based on the work we have performed, V hav > not identtfied any material uncertaintias ralating to events or conditions that, individually or collective, may ca ..t significant doubt on the charity's ability to continue as a going oncem for a period of at least twelve months from when the financial ststements are authorised for issue. Our rasponsibilities and the responsibilities of th3 trustees with r6sp8Ct to going ¢x)ncem are deSbed in the relevant section5 of this report. Other Information The other information comprises the infomiation i icluded in the annual report other than the finala[ ststements and our auditorf5 report thereon. The truste6s are psponsible for the other infomiation contained within the annual r8POrt. Our opinion on the financial statements doe > not cover the other information and we do not express any fom of assurance conclusion thereon. Our responsibi ty is to read the other information and, in doing so, consider whether Ihe other infomiation is materially inconsi .'lent wtlh the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be rnaterially misstated. If we identify such rnaterial inconsistencies or apparent material misstatements. we are requi d to detarmine whether this gives rise to a materfal misstalement in the financial statements themselves. If. based on the work we have perfomied. we conclude that ther8 Is a materfal misstatement of this other infomiation. we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by e (ceptlon W8 have nothing to report in r8spect of the followlrg matters in relation to which th8 Charities Act (Northem Ireland) 2008 requlre us to report to you if. in our opinion: the informauon given in the financial stster ients is Inconsislent in any material respect with the trustees, report: or sufficiènt accountlng records have not been k gpt; or the financial statements are not in agreemenl wth the accounting records. or we have not reiVed all the information and i.'xplanatlons we require for our audlt.
DRUMAHOE CHILDCARE LIMITI'D INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF DRUMAHOE ('HILDCARE LIMITED Responsibilities of trustees As explained more fully in the ststement of trustef s. responsibilities. the trustees. who are also the directors of tha charity for the purpose of company law, are respor 9ible for the preparation of the financial statements and for being satisfied Ihal they give a true and fair view. and ft r such intemal control as the trustees determina is necessary to enable the preparation of financial slalements th< t are free from material misstatement, whether due to fraud or érror. In preparing the financial ststements, the trusteas are responsible for assessing Ihe charity's ability to continue as a going concem, disdosing. as apFlicable, matters related to going concem and using the going oncem basis of accounting unless the trustees either intend to liquidate the charitable company or to C8asè operations, or have no realistic altemative but to d( so. Auditorfs responsibilities for the audtt of the fin3ncial statements We have been appointed as auditor under sectioi 65 of the Charitias Ad {Northem Ireland) 2008 and report in accordance with the Act and relevant regulations ff ade or having effect thereunder. Our objectives are to obtain reasonable assuran¢E about whether the financial ststements as a whole are free from material misstatemant, whether due to fraud or Eiror. and to issue an auditor's report that includes our opinion. Reasonable assuranc8 Is a high level of assurani e but is not a guarantee that an audit conduded in accordance with ISAS (UK) will always detect a material mis¢tatement when it exists. Misstatements can arise from fraud or error and are considered material rf, individually or in Ihe aggregate, they could reasonably be expected to influence the economlc decisions of users tsken on the basi< of these financial statements. The extent to which our procedures are capabl8 of detecttng irregularities. induding fraud, is d8tailed below. We gained an undèrstanding of the legal and regi Ilatory framework applicable to the company and tha Industry in which it operates, and considered the risk of ai Is by the company that were contrary to applicable Laws and r8gulations, including fraud. We designed audit pi )cedures to r8spond to the risk. recognising that the risk of not detecting a material misstatement due to fraud 15 iigher than the risk of not detecting one resulting from error, as fraud may invofve deliberate concealment by. foi example. forgery or intentlonal misrepresentations, or through collusion. We focused on laws and regulations which could Jive rise to a material misstatement in the financial statements. including, but not limited to. the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to undedying supp )rtlng documentstion, enquiries wlth management and enquiries of legal couns&l. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from he events and transactions reflected in the financial statements. the less likely we would become aware of it. WE did not identify any key audit matters relating to irregularities. including fraud. As in all our audits, we also ac dressed the risk of management override of intemal Controls. including testing joumals and évaluating whether U iere was evidence of blas by the directors that represented a risk of material misstatement due to fraud. A further description of our responsibilities is av¢'.ilable on the Financial Reporting Council's w8bsite at: https:11 www.frc.org.uklauditorsresponsibilities. This descri ition forms part of our auditorfs rèport. Use of our report This report is made solely to the charitys trustE >s, as a body. in accordance with part 8 of the Chariti8s Act (Northern Ireland) 2008. Our audit work has been Jndertaken so that we might stste to the charity's trustees those matters we are required to state to them in an iuditorfs r8POrt and for no olher purpose. To the fullest extent pemittéd by law. we do not accept or assume rponsIbIlity to anyone other than the charity and the charfty's tTUStees as a body, for our audit work, for this repoi". or for the opinions we have forned.
DRUMAHOE CHILDCARE LIMITI=D INDEPENDENT AUDITOR'S REPORT CONTINUED) TO THE TRUSTEES OF DRUMAHOE I:HILDCARE LIMITED Jamas Danlel Brolly (Senior Statutory Auditor) for and on behalf of PFS & Partners Limitsd 10 November 2023 Chartered Certifled Accountants statutory Audltor 16 Main Street Limavady BT49 OEU PFS & Partners Limited is eligible for appointmenl as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of Ihe Companies Act 2006.
DRUMAHOE CHILDCARE LIMITI=D STATEMENT OF FINANCIAL ACTIVITI=S INCLUDING INCOME AND EXPENDITIJRE ACCOUNT FOR THE YEAR ENDED 31 MARCH 21123 Unrestrlcted Rest Ictsd funds ' unds 2023 2023 Total Unrestrlcted Restricted funds funds 2022 2022 Total 2023 2022 Notss Donations and legacies Charitable aotivities Oth8r trading activitl8S Investments 23.643 518,127 28,779 491,357 75,150 103,929 491,357 518,127 2,359 314 314 73 73 Total Income 518.441 520.209 75,150 595.359 Raising funds 613 613 Charitable aclivities 505,566 23,643 529,209 410.424 75,150 485,574 other 945 945 Total expanditure 506.452 2 1,256 530,708 411.369 75,150 486,519 Net income for the yearl Net movement In funds 11.989 1.746 13.735 108.840 108,840 Fund balances at 1 April 2022 216,999 216,999 108.159 108,159 Fund balances at 31 March 2023 228,988 1.746 230.734 216.999 216,999 The statèment of financial activtties includes all gal."Is and losses recognised in the year. All income and expendtture derive from continuing ictivitiès. The statement of financial activities also compfie£ with the requirements for an Income and expenditure account under the Companies Act 2006.
DRUMAHOE CHILDCARE LIMITI=D BALANCE SHEET ASAT31 MARCH 2023 2023 2022 Fixed assets Tangible assets 14 68.447 69.001 Current assets Debtors Cash at bank and in hand 15 16.232 195,977 25,253 182.234 212,209 207.487 Credltors: amounts falllng due within one year 17 (29.473) (29.909) Net current assets 182,736 177,578 Total assets less current Ilabllllles 251,183 246.579 Creditors: amounts falllng due after more than one year 18 (20,449) (29,580) Nat assets 230,734 216,999 Income funds Restricted funds Unrestricted funds 19 1.746 228,988 216,999 230.734 216.999 The company is entitled to the exemption from the audit requir8ment contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023. althougl an audit has been carried out under sectlon 65 of the Charities Act (Northem Ireland) 2008. The directors acknowledge th8ir responsibilities fi )r complying with the requirements of the Companies Act 2006 th resp8Ct to accounting records and th8 prepara ion of financial ststements. The members have not required the company to c btain an audit of its financial statements under the requirements of the Companies Act 2006. for the year tn queslior in accordan bvith section 476. These financlal statements have been prepared in aco)rdance with the provisions applicable to compan18s subject to the small companies regime. The financial ststsments were approved by tha Tru -tses on 10 November 2023 Lisa Dunn Trustee Company registratlon nun7ber N1039031
DRUMAHOE CHILDCARE LIMITI=D STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 21123 2023 2022 Cash flows from operating activities Cash generated from operations 29.017 108,542 Investing activities Purchase of tsnglble fixed ass8ts Investment income received (6.540) 314 (639) 73 Net cash used in investing acttvltles {6,226) (566) Flnancing activities Repayment of bank loans (9.131) (7,403) Net cash used In financing activities (9,131) (7,403) Net increase In cash and cash equivalents 13,660 100,573 Cash and cash 8qulvalents at beginning of year 182,234 81,661 Cash and cash equivalents at end of year 195,894 182,234 Relating to: Cash at bank and in hand Bank overdrafts included in creditors payable within one y8ar 195,977 182,234 (83)
DRUMAHOE CHILDCARE LIMITI=D NOTES TO THE FINANCIAL STATEM =NTS FOR THE YEAR ENDED 31 MARCH 21123 Accounting policies Charity infomiation Drumaho8 Childrnre Limited is a private coi ipany limited by guarantee incorporated in Northem Ireland. The registered office is CIO Londondery YMCA. i1 Glenshane Road. Drumahoe. Londondery, 8T47 3SF. 1.1 Accounting conventlon Th8 finanoial statements have been prepar( d in ac¢ordance with the charitys Memorandum and Articles of Association. the Comp8nies Act 2006. FRS 102 Yhe Financial Reporting Stsndard applicable in the UK and Republic of Ireland. {"FRS 102") and the Ch ititses SORP 'Accounting and Reporting by Chariti8s: Statem8nt of Recommended Practi applicable to ch."irities preparing their accounts in accordanc8 With the Financial Reporting Standard applicable in the UK anLI Republic of Ireland (FRS 102). (effective 1 January 2019). Th8 charity is a Public Benefit Entity as defined b.i FRS 102. The financial statements are prepared in slarling, which is the functional currency of the charity. Monetary amounts in these financial ststements are roLJnded to the nearest £. The finanoial ststements have been Prepa.fj under the historical cost convention, Imodified to include the revaluation of freehold properties and to incli Ide investment properties and certain financial instruments at fair valuel. The principal awounting policies adoijied are set out below. 1.2 Golng concem At the time of approving the financial statem Jnts. the trustees have a reasonable expectstion that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the tnjstees continue to adopt the going Goncem basis of a¢counting in preparing the financial statements. 1.3 Charitable funds Unrestrtcted funds are available for use at the discretion of the trustees in furthBrance of their charitable objectives. Restricted funds are subject to specific cond tions by donors as to how they may used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specafic ci dItionS by donors that the capltal must be maintainéd by the charity. 1A Income Income15 recognised when the charity is legr Illy enttued to it after any performance conditions have been met, the amounts Can be measured r8llably. and il is probable that income will be received. Cash donations are recognlsed on receipt. C ther donations are reo)gnised once Ihe chartty has been notified of the donation. unless performance condit )ns require deferral of the amount. Income tax recoverable in relation to donations received under GiftAtd I,r deeds of covenant is regnised at the time of the donation. Legacies are recognised on receipt or otheD se if the charity has b88n notified of an impending disiributlon, the amount is known, and receipt ts expe ted. If the amount is not known, the legacy is traated as a contingent assat. 10-
DRUMAHOE CHILDCARE LIMITI=D NOTES TO THE FINANCIAL STATEMI=NTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 21123 Accounting policies (Contlnuad) 1.5 Expenditure Expendlture is racognised once there is a I":gal or constructive obligation to transfer ewnomi¢ benefit to a third party, it is probabl6 that a transfer of ec )nomic benefits will be required In sèttlament, and the amount of the obligation can be maasured reliably. Expenditure is classified by activity. The co"...ts of eath acbvity are made up of the total of dIrt costs and shared costs, including support costs involve J in undertaking each activity. Dired costs attributsble to a single activity are allocated directty to that activits. Shared costs which contrtbute to more than one activity and support costs which are not attributable to a ::ingle activity are apportioned beeen those acttvities on a basis onsistent with the use of resour$. cen.ral staff costs are allocated on the basis of time spent, and d8preciation charges are allocated on the poilion of the asseys use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impalmient losses. Depreuation is re¢ognised so as to write off Ine cost or valuatM)n of assets less their residual values over their useful lives on thè following bases: Leasehold improvements Fixtures, fittings & equipment Play park 5% straight line 25% reducing balan 100/0 reducing balance The galn or loss arising on the disposal of an asset is determined as the difference beiween the sale proceeds and the carying value of the asset. and is rei ognised in the statement of financial activities. 1.7 Impairment of fixed assets At each reporting end date, the charity rei iews the carrying amounts of its tangible assets to detemine whether there is any indication that those c ssets have suffered an impaimient loss. If any such indallOn exists, the recoverable amount of the asset is estimated in order lo determine th8 extenÉ of the impairment Ios5 (rf any). 1.8 Cash and cash equfvalents Cash and cash equivalents indude cash in hand. deposits held at call with banks. other short-term liquid investments with original maturities of three I nonths or less. and bank overdraft5. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Flnancial Instruments The chartty has elected to apply the provisi )ns of Section 11 'Basic Financial Instruments, and Sectlon 12 'Other FlnanGial Instruments Issues, of FRS 1)2 to all of its financial instruments. Financial instruments are recognised in the charivs balan sheat when the charity becomes paty io the contractual provisions of the instrumenL Financial assets and liabil[aS are offset, wil i the net amounts presented in the financial statements, when there is a18gally enforc8able right to set off tr J recognised amounts and ther8 is an intention to settle on a n8t basis or to realise the asset and setue the liat ility Simultaneously. 11
DRUMAHOE CHILDCARE LIMITI=D NOTES TO THE FINANCIAL STATEM=NTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 21123 Accountlng pollcles (Continued) Basic financial assets Basic financial assets. which include det.'ors and cash and bank balances, are initially measured at transaction price including transaction costs. Ind are subsequently carried at amortised cost using the effective interest method unless the arrangement nStituteS a financing tpnsaclion. where the transaction is measured at the present value of the future receipts discounted at a market rate of interesL Financial assets classified as re1vable within one year are rJt amortised. Baslc flnancial liabilities Basic financial liabilities. including credilors T'.nd bank loans are initially recognised at transaction price unl8SS the arrangement constitutes a financing traiisaction, where the debt instrument is measured at th8 present valua of the future payments discounted at i market rate of interesL Financial liabilities classified as payable within one year are not amortised. Debt instruTnents are subsequently Carried al amortised cosl, using the effeclive interest rat8 method. Trade creditors are obligations to pay for goi"")ds or services that have been acquired in the ordinary cours8 of operalions from suppliers. Amounts payable are dassified as current liabilities rf payment is due within on8 yèar or less. If not, they are presented as .ion-cUent liabilities. Trade creditors are recognised initially at transaction price and subsequenlly measu] at amortssed cost using the eff8cllve interest method. Derocognition of financlal liabilities Financial liabilities are derecognised when he tharivs contractuat obligations expire or are discharged or canc8119d. 1.10 Employee beneflts The cost of any unused holiday entiuement 5 recognised in the period in which the employee's services are received. Termination b8nefits are recognised immedit tely as an expense when the charity is demonstrabty committed to teminate the employment of an employee or to provide terniination benefits. 1.11 Retlrement benefits Payments to defined contribution retir8ment l enefft schemes are charged as an expense as th8y fall due. Crftlcal accountlng estimates and Judgem Ints In the appllcation of the charity's accounting i ollcies. the trustees are requlrad to make Judgements, estimates and assumptions about the carying amount of assets and liablltknes that are not readily apparent from other sources. The esttmates and associated assu nptions are based on historical experience and other factors that ar8 considered to be relevant. Actual reSuS i iay differ from these estimates. The estimates and underlying assumplionE are rewewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in w iith the estimate is revised where the revision affects ClY that period, or in the period of the revision and f Jture periods where th8 revision affects both current and future Periods. 12-
DRUMAHOE CHILDCARE LIMITI=D NOTES TO THE FINANCIAL STATEMI=NTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 21123 Donations and legacles Restricted funds Unrestrictsd Restricted funds funds Total 2023 2022 2022 2022 Grants receivable 23,643 28,779 75,150 103.929 Grants receivable for core actlvltlès Bright start DCSDC Early Yèars Westem Area childre Partnership Govemment Grants Education Authority 21.654 1.989 26,280 2,000 26,280 2,000 28,779 2,480 34,390 10,000 28.779 2,480 34,390 10,000 23.643 28.779 75,150 103,929 Charitable actlvlties 2023 2022 Childcare income Other income 513.974 4,153 489,820 1,537 518,127 491,357 Other trading actlvllles Restricted funds Total 2023 2022 Fundraising events 2.359 13-
DRUMAHOE CHILDCARE LIMITI"D NOTES TO THE FINANCIAL STATEMI=NTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 21123 Invostments Unrostrfcted Unrestrictod funds funds 2023 2022 Interest receivable 314 73 Raising funds Restricted funds Total 2023 2022 undr isin other fundraising costs 613 613 Charitablo activities 2023 2022 Childcar8 Share of g0Veman costs (se8 note 10) 523,809 5,400 480,344 5,230 529.209 485,574 Analysis by fund Unrestricted funds Restricted funds 505,566 23.643 410,424 75,150 529.209 485.574 14-
DRUMAHOE CHILDCARE LIMITI=D NOTES TO THE FINANCIAL STATEMI=NTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 21123 Descriptlon of charftablo actlvttlas Child¢are We provide care faulilles for up to 100 thiljren on a daily basis, Monday to Friday. We operate a daycare facility and an out of schools. We open da'care at 8am to 6pm every day throughout the year. Our out of schools opens at 2pm to 6pm weekdays bu: during the summer and sch¢)ol holidays, we open at 8am. We pick up and drop off daycare Ghildren for n Irsery and preschool while out of school children are collected from Iheir schools at 2pm, 3pm and when ac awti6s are tsking pla. 4pm. They are brought to the club where thoy are given a snack and then go to their ¢ eparat8 rooms. We operate 5 rooms: daycare has 2 roorns with chlldren aged from 2 to 4 years. Out of sch )ols has 3 rooms: P1-2, P34 and P&7. There are room leaders and playworkers in each room. The plannin£ of activities are canied out with the involvement of the children. All activities are age appropriate. We have a sports hall and play parks 50 that activities for their physical well being are provided all year round. This also improves their social wall being and interpersonal skills. Parents then collect Iheir children from us at whate er time suits. During the summer our activities are mLtth more extensiv8 and would also invofve trips off site. qo Support costs Support Governance costs costs 2023 2022 Audtt fees Accountancy fees 4,200 1,200 4,200 1.200 4,200 1.030 5.400 5.400 5.230 Analysed baeen Charitable actfvitl8S 5.400 5,400 5,230 Govemance costs includes payments to the '.uditors of £4.200 (2022- £4.200) for audit fees. 11 Trusteès None of the trustees (or any persons conne"*d with them) received any remuneration or beneffts from the charity during the year. 12 Employees The average monthly number of employees c uring the year was: 2023 Number 2022 Number Childcare staff 27 26 15-
DRUMAHOE CHILDCARE LIMITI=D NOTES TO THE FINANCIAL STATEMI=NTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 21123 12 Employees (Contlnued) Employment costs 2023 2022 Wages and salariès Social security costs Other pension costs 382.292 19.022 4,081 343,080 15,280 4,078 405.395 362.438 There wère no employees whose annual ren uneration was more than £60.000. 13 Taxation The Charity is exempt from tax on income an.,1 gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Ad 1992 to the extent that these are applied to its charitable objects. 14 Tangible fixed assets Leasohold improvements Flxtur•s, fittings & equlpment Play park Totsl Cost At 1 April 2022 Addilions 47.000 61.379 6,540 28,934 137,313 6.540 At 31 March 2023 47.000 67,919 28.934 143,853 Depreciation and irnpaimient At 1 April 2022 Depreciation charged in th8 year 3.525 2.350 52.605 3,069 12.182 1,675 68,312 7.094 Al 31 March 2023 5.875 55.674 13.857 75,406 Carying amount At 31 March 2023 41,125 12,245 15,077 68,447 At 31 March 2022 43.475 8,774 16.752 69,001 15 Debtors 2023 2022 Amounts falling due within one year. Trade debtors Other debtors 10,818 5,414 25,253 16,232 25,253 16-
DRUMAHOE CHILDCARE LIMITI"D NOTES TO THE FINANCIAL STATEMI=NTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2(,23 16 Loans and overdrafts 2023 2022 Bank overdrafts Bank loans 30.466 39,597 30.549 39,597 Payable within one year Payable 8fter one year 10.100 20,449 10,017 29,580 17 Credltors: amounts falling due within one year 2023 2022 Notes Bank loans and overdrafts othèr taxation and social security Trade creditors Other creditors Accruals and deferred Incoma 16 10,100 2,786 31 11.156 5,400 10,017 3,664 10,828 5,400 29.473 29,909 18 Credltors: amounts falling due after morè "than one year 2023 2022 Notes Bank loans 16 20,449 29,580 17-
DRUMAHOE CHILDCARE LIMITI:D NOTES TO THE FINANCIAL STATEMI"NTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 21.23 19 Restrlctod funds The Income funds of the charity indude re: tricted funds comprising the following unexpended balances of donations and grants held on trust for specifi,: purposes: Movement in funds Incoming Resources Balance at 8xpgnd•d 1 Aprll 2022 Movement in funds Incoming Re50ufGes Balance at r8sourc•s wAynd•d 31 March 2023 Bright Start DCSDC CJRS Westam Area Partnership Educatlon Authority Fundralslng Income 26.280 2,000 34,390 2.480 10.000 {26.280) (2.000) {34.390) (2,480) (10.000) 21.654 1.989 (21,654) (1.989) 2.359 {613) 1,746 75.150 (75.150) 26.002 (24.256) 1,746 20 Analysls of not assets between funds Unrestrlcted R(-Atricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Fund balances at 31 March 2023 are represented by- Tangible assets Current assetsl{liabllltles) Long tem Ilabilities 68,447 182.736 (20.449) 68.447 182,736 (20.449) 69.001 1TT.578 (29,5801 69,001 177.578 {29.580) 230,734 230,734 216.999 216,999 21 Related party transactions There were no disclosable related paty trans actions during the year (2022 - none). 22 Cash generated Irom operatlons 2023 2022 Surplus forthe year 13.735 108,840 Adjustments for.. Investment income recognised in statement c-"financial activitias Depreciation and impairment of tsngible fixed assets {314) 7,095 173) 6,928 Movements In working capital". Decreasel(increase) in debtors {D6creaseyincr8ase in creditors 9.021 {520) (12,788) 5,635 Cash gonerated from operations 29.017 108,542 18-
DRUMAHOE CHILDCARE LIMITI"D NOTES TO THE FINANCIAL STATEMI"NTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 21 J23 23 Analysis of changes In net funds At 1 Aprfl 2022 Cash flowsAt 31 March 2023 Cash at bank and In hand Bank overdrafts 182.234 13.743 (83) 195,977 (83) 182.234 13,660 195,894 Loans falling due within one year Loans falling due after more than one year (10.017) (29,580) (10,017) (20,449) 9.131 142.637 22.791 165,428 19-