Rainbow Daycare (Eglish) Ltd (Charitable Company Limited by Guarantee) DIREcfoRS' REPORT For the year ended 30 June 2023 The Directors, who are the trustees for the purpose of charity law. have pleasure in presenting their report and the unaudited financial statements of the charitable company for the year ended 30 lune 2023. The financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charities" (FRS 102), United Kingdom Generally Accepted Accounting Practice and the Companies Act 2006. Reference and Admlnlstratlon Detalls The refence and administration details of the charity are as shown on page 3. Objectives and Artlvitles The key aims of Rainbow Daycare (Egllsh) Ltd are to allow young people to develop thelr own optimum level of independence. The principal activity of the charity is to enhance development and education of young children through: -The provislon of high quallty day care and childcare; Working to ensure that quality day care and childcare is available to children and families regardless of rneans. race, disability, gender. religion, belief or any other factor. Identifying the wider support needs of children and families and to seek to ensure that such needs are met. Encouraging, enabling and supporting the involvernent of parents and carers in their children leaming and development; and -contributing to the professional development of those working in daycare and childcare; an Encouraging and enabling the involvement of parents, carers and the wider community in the affalrs of the Charity. Public Benefit Statement The Directors of Rainbow Daycare (Eglish) Ltd confirm that they have complied with thelr duty under section 4{6) of the Charities Act (Northern Ireland) 2022 to have regard to the Charity Commission for Northem Ireland's guidance on public benefit and that the public benefit requirement has informed the activities of the charitable company in the year ended 30 june 2023. Achievements and Performance The Directors are confident that the charitable company continues to meet its perfonnance objectives to benefit the local community. The charitable company continues to receive funding from local bodie5. Rainbow Daycare (Eglish) Ltd is registered with the Southern Health and Social Care Trust and is inspected by thern annually to ensure that high quality care and education is provided for all children in our Centre. We are also a member of the -Early Years Organisation for Young Children" CavanaghKel
DIRECTORS. REPORT For the year ended 30 June 2023 Ralnbow Oaycare (Eglish) Ltd currently offers a combine(I capacity of 151 registered places, 51 for playgroup, 60 for out of school and 40 for daycare. The centre has been designed to meet the highest childcare standards, rneeting with Trust regulations and the environmental health standards stipulated for a day care provider. All necessary Registrations are held and are reviewed on a regular basis by the regulatory bodies to ensure the hlghest standards are being maintained. With a high standard of Stsff training and experience, the ntre is providing an opportunity for others to learn and become trained in childcare. both as workers and volunteers in a rural area. The centre supports the cross community requirements of the charity given its neutral location in the community. As is the case with many other rural cornrnunities in Northern Ireland. these children are dominated by one tradition that experiences Ilttle contact wlth slmilar groups from other traditions. This can limit their ability to address conflict and division, and can also hinder regeneration or development in that locality. The centre helps adL1ress this imbalance. The playgroup provides pre-school services to children aged 3 to 4 years. The Playgroup implements 'High/Scope' for 3-4 year olds. This is a quality approach to early childhood care and education and a recognised standard with Early Years and Social Sendices. 'High/Scope' identifies and builds on children's strengths, interests and abilities and was adapted by educators to meet the needs of local communities. 'HighlScope' has been shaped and developed by research over many years and is used internationally In a varlety of settings including daycare, playgroups, nurserles and primary schools. This best practlce approach 'HighlScope' is also being Implemented for the babies and toddlers who attend full éaycare. The playgroup places are funde(J through the PEGS prograrnme. Out of School Club commenced in September 2012, which operates from 2.00pm to 6,00pm during tem time and caters for children from 4 years to 12 years. The out of school club operates from 9.00am - 6.00pm during school holidays. The Out of School Club provides a range of activities which encourage active play, exerclse and development of hobbies and sports. Financial Review Financial Performance The financial performance was in line with the 8oard of Directors, expectations, The charitable company remalns In a sound financial positlon at the year end. The results for the year are set out in detail on pages 14-27. The charitable company retumed net outgoing resources for the year of £25,570 (2022: net incoming resources of £85,982). At 30 June 2023, the total funds of the charitable company amounted to £751,806 (2022: £777,376) comprising of £431,208 (2022: É449,462) of unrestrirted and £320,598 (2022: £327,914) of restricted funds. Prinopal sources of funding and how this has supported the key objectives of the charitable company are disclosed in the notes to the financial statements. CavanaghKelV
DIRECTORS. REPORT For the year ended 30 June 2023 Reserves Policy The charitable cornpany does not maintain a formal reserves policy however the Board of Directors continue to monitor the level of reserves held by the charitable company and are satisfied that these are adequate to meet any unforeseen expenditure incurred. The directors feel there is no need for a formal reserves policy as Rainbow Daycare (Eglish) Ltd Is an income generating charity and only rely on grant income for a small proportion of income. The charitable cornpany has free reserves of £16,098, the equivalent of 2 weeks unrestrlcted expenditure {2022: 30,480 4 weeks). structure, Governance and Management Oryanlsatlonal structure The charltable company is a company limited by guarantee, not havlng a share capltal. The cornpany was established under a Memorandum of Association which established the objects and powers of the company and is govemed under its Articles of Assoclatlon. Any person wishing to become a Director must apply in writing prior to the Annual General Meeting. A vote is then taken at the Annual General Meeting as to whether that person is appointed. Directors The Directors during the year are the same as the Dirertors as listed on page 3. Taxatlon Status The charitable company is recognised as a charity by HM Revenue & Customs. Accordingly, the charitable company has availed of the exemptions contained in Chapter 3 Part 11 Corporation Taxes Act 2010 and Section 256 Taxation of Chargeable Gains Att 1992. CavanaghKel
DIRECTORS, REPORT For the year ended 30 June 2023 Dlrectors. Responslbllltles Statements The Oirectors are responsible for preparing the Directors, Report and the financlal statements in accordance wlth applicable law and Unlted Kln9dorn Accounting Standards (Unlted Klngdom Generally Accepted Accountlng Practlce). Company law requlres the Dlrectors to prepare flnanclal statements for each finantial year vjhlch give a true and fair view of the state of the affairs of the chèritable company and of the incoming resources and application of re%>urces, including the income and expenditure, of the chadtable company for that year. In preparlng these flnancial statements the Dirertors are requlred to: •Sèlect suitable accountlng pollcles and apply them conslstently. •(]bserve the methods and princlples In the Charitles SORP (FRS 102). •&ke Judgements and estlmates that are reasonable and prudent; State whether appllcable UK Accounting Standards have been followed, subject to any materi departures dlsclosed and explained in the finanaal staternents; and Prepare the finanaal statements on the golng concern basls unless It Is Snappropr6ate to presuff that the charltable company will contlnue In operatlon. The Dlre¢tors are responsible for keeplng adequate accountlng records that dlsclose wlth reasonable accuracy at any tlme the financlal posltlon of the charitable cornpany and to enable them to ensure that the financial statements comply with the Cornpanles Act 2006. They are also responslble for safeguardlng the assets of the charitable company and hence for taklng reasonable .steps for the preventlon and detectlon of fraud and other Irregularltles. Statement of Dlsclosure of Informatlon to Audltor In so far as the Dlrectors, who held office at the date of approval of these financial staternents, are warè: there Is no relevant audlt Information of whlch the charltable company's audltor Is unaware; and the Dlrectors have taken all steps that they ought to have taken to make themselves awa of any relevant audit Informatlon and to establlsh that the audltor Is aware of that Information. CavanaghKel
DIRECTORS, REPORT For the year ended 30 June 2023 Small Companies Exemptlon The above report has been prepared In accordance wlth the special provisions relatlng to srnall companles within Part 15 of the Companles Act 2006. Thls report was approved by the Board of Directors on 27 November 2023 and slgned on Its behalf Catrlona Donnellv Director Company Reglstratlon Number: NZ601526 Charity Re9lstratlon Number: 101018 CavanaghKel