Company Registration Number: N1601526
Charity Registration Number: 101018
Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
Annual Report and Audited Financial Statements
For the year ended 30 June 2024
CavanaghKelly"

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
Contents
For the year ended 30 June 2024
Page
General Informatlon
Dlrectors, Report
Independent Auditor's Report
9-13
statement of Flnancial Actlvltles
14
statement of Flnancial Position
15- 16
Statement of Cash Flows
17
Notes to the Flnanclal Statements
18-27
CavanaghKel

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
GENERAL INFORMATION
Board of Directors
Martina Bateson
Clare Daly
Fionnuala Daly
Eimear Donaghy
Catriona Donnelly
Colette Fay
Orla Kelly
Sophia Kerr
Company Secretary
Flonnuala Daly
Registered office
Rainbow Community Childcare
2 Stiloga Road
Eglish
Dungannon
Co. Tyrone
BT71 7DW
Company registration number
N1601526
Charity registration number
101018
Independent examlners
CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP
Bankers
Bank of Ireland
Market Street
Magherafelt
Co. Londonderry
BT45 6EE
CavanaghKelly"

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
DIRECTORS, REPORT
For the year ended 30 June 2024
The Directors, who are the trustees for the purpose of charity law, have pleasure in presenting
their report and the audited financial statements of the charitable company for the year ended 30
June 2024.
The flnanclal 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 Administration Details
The reference and administration details of the charity are as shown on page 3.
Objectives and Activities
The key aim of Ralnbow Daycare (Eglish) Ltd is to allow young people to develop their own
optimum level of Independence.
The prlnclpal activlty of the charity is to enhance development and education of young children
through..
The provision of high quality day care and childcare.
Working to ensure that quality day care and childcare is avallable to children and families
regardless of means, race, disability, gender, religion, belief or any other factor;
Identlfylng the wider support needs of children and families and to seek to ensure that such
needs are met.
Encouraging, enabling and supporting the involvement of parents and carers in thelr children's
learning and development; and
Contributing to the professional development of those working in daycare and childcare. and
Encouraging and enabling the involvement of parents, carers and the wider communlty in the
affairs of the Charity.
Public Beneflt Statement
The Directors of Rainbow Daycare (Eglish) Ltd confirm that they have complied with their duty
under section 4(6) of the Charities Act (Northern Ireland) 2022 to have regard to the Charity
Commission for Northern 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
2024.
Achievements and Performance
The Directors are confident that the charitable company continues to meet its performance
objectives to benefit the local community. The charitable company continues to receive funding
from local bodies.
Rainbow Daycare (Eglish) Ltd is registered with the Southern Health and Social Care Trust and is
inspected by the trust annually to ensure that high quality care and education is provided for all
children in its centre. It Is also a member of the 'Early Years Organisation for Young Children"
CavanaghKelly"

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
DIRECTORS. REPORT
For the year ended 30 June 2024
Rainbow Daycare (Eglish) Ltd currently offers a combined 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 hlghest chlldcare standards, meeting with the trust's
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 highest standards are being maintained.
With a high standard of staff training and experience, the centre is providing an opportunity for
others ta learn and become tralned 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 communities in Northern Ireland, these
children are dominated by one tradition that experiences little contact with similar groups from
other traditions. Thls can limit thelr abillty to address confllct and dlvision, and can also hinder
regeneration or development in that locality. The centre helps address this imbalance.
The playgroup provides pre-school services to children aged 3
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 recognlsed standard wlth Early Years and Social Services. 'High/Scope' Identifies
and builds on children's strengths, Interests and abilities and was adapted by educators to meet
the needs of local communities. 'High/Scope' has been shaped and developed by research over
many years and Is used Internatlonally in a variety of settings including daycare, playgroups,
nurseries and prlmary schools. This best practice approach 'High/Scope' is also being implemented
for the babies and toddlers who attend full daycare.
The playgroup places are funded through the PEGS programme.
Out of School Club commenced in September 2012, which operates from 2.00pm to 6.00pm
during term time and caters for children from 4 to 12 years of age. 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, exercise and
development of hobbles and sports.
Financial Review
FAnanclal Performance
The financial performance was in line with the Board of Directors, expectations. The charitable
company remains in a sound financial position at the year end. The results for the year are set out
in detail on pages 14-27. The charitable company returned net outgoing resources for the year of
£13,202 (2023: net outgoing resources of £25,571).
At 30 June 2024, the total funds of the charitable company amounted to £738,603 (2023..
£751,805) comprising unrestricted of £435,391 (2023: £431,207) and restricted £303,212 (2023..
£320,598) of restricted funds. Principal sources of funding and how this has supported the key
objectives of the charitable company are disclosed in the notes to the financial statements.
CavanaghKelly"

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
DIRECTORS, REPORT
For the year ended 30 June 2024
Reserves Policy
The charitable company 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 relies on grant income for a small proportion of income.
The charitable company has free reserves of £26,666, approximately the equivalent of 2,5 weeks
unrestricted expenditure (2023.. £16,098 - 2 weeks).
Structure, Governance and Management
Organisational structure
The charitable company is a company limlted by guarantee, not having a share capital.
The company was established under a Nemorandum of Association which established the objects
and powers of the company and Is governed under Its Articles of Assoclation.
Any person wlshing to become a Director must apply in writing prior to the Annual General
Meetlng. 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 Directors as listed on page 3.
Taxation Status
The charitable company is recognised as a charity by HM Revenue & Customs. Accordlnglyi the
charitable company has availed of the exemptlons contalned in Chapter 3 Part 11 Corporation
Taxes Act 2010 and Section 256 Taxation of Chargeable Galns Act 1992.
CavanaghKelly"

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
DIRECTORS. REPORT
For the year ended 30 June 2024
Directors, Responsibilities Statements
The Directors are responsible for preparing the Directors, Report and the Financial Statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
GeneralSy Accepted Accounting Practice).
Company law requires the directors to prepare financial statements for each financlal year which
give a true and fair view of the state of the affairs of the charitable company and of the incoming
resources and application of resources, including the income and expenditure, of the charitable
company for that year. In preparing these financial statements the Directors are required to.,
Select suitable accounting policies and apply them.
Observe the methods and principles in the Charities SORP (FRS 102).
Make judgements and estlmates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained in the financial statements. and
Prepare the financial statements on the going concern basis unless It Is Inappropriate to
presume that the charitable company will continue in operation.
The dlrectors are responslble for keeping adequate accounting records that disclose wlth
reasonable accuracy at any time the financial position of the charitable company and to enable
them to ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the charitable company and hence for taklng reasonable
steps for the prevention and detection of fraud and other irregularities.
statement of Disclosure of Informatlon to Audltor
In so far as the directors, who held office at the date of approval of these flnanclal statements, are
aware:
there is no relevant audit information of which the charitable company's auditor is unaware; and
the directors have taken all steps that they ought to have taken to make themselves aware of
any relevant audit information and to establlsh that the audltor Is aware of that informatlon.
CavanaghKelly"

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
DIRECTORS, REPORT
For the year ended 30 June 2024
Small Companies Exemption
The above report has been prepared in accordance with the special provisions relating to small
companies within Part 15 of the Companies Act 2006.
This report was approved by the Board of Dlrectors and signed on its behalf by.,
h(,( th24-
Catriona Donnelly
Director
Date
Company Registration Number: N1601526
Charity Registration Number: 101018
CavanaghKelly"

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
Independent Auditor's report to the Directors of Rainbow Daycare
(Eglish) Ltd for the year ended 30 June 2024
Opinion
We have audited the financlal statements of Rainbow Daycare (Eglish) Ltd ('the charitable
company,) for the year ended 30 June 2024 which comprise the Statement of Financial Activities,
the Statement of Financial Position, the Statement of Cash Flows and the related notes to the
financial statements, including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK
and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice).
This report is made solely to the charitable company's Directors, as a bodyi in accordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we
mlght state to the charitable company's Directors those matters we are requlred to state to them
in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not
accept or assume responsibility to anyone other than the charitable company and the charitable
company's Directors as a body, for our audit work, for this report, or for the opinlons we have
formed.
In our opinion the financial statements.,
give a true and fair view of the state of the charitable company's affalrs as at 30 June 2024 and
of its total incoming resources and expenditure of resources, including its income and expenditure,
for the year then ended;
have been properly prepared In accordance with United Kingdom Generally Accepted Accounting
Practice; and
have been prepared in accordance wlth the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK))
and applicable law. Our responsibilities under those standards are further described in the
Auditor's responsibilities for the audit of the financial statements section of our report, We are
independent of the company in accordance with ethical requirements that are relevant to our audlt
of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled
our other ethical responsibilities in accordance with these requirements. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
CavanaghKelly"

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
Independent Auditor's report to the Directors of Rainbow Daycare
(Eglish) Ltd for the year ended 30 June 2024
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which ISAS (UK) require
us to report to you where..
the directors, use of the going concern basis of accounting in the preparation of the financial
statements is not appropriate; or
the directors have not disclosed in the financial statements any identified material uncertainties
that may cast significant doubt about the charitable company's ability to continue to adopt the
going concern basis of accounting for a period of at least twelve months from the date when the
financial statements are authorised for issue.
Other Information
The directors are responsible for the other information. The other information comprises the
information included in the Dlrectors, Report, other than the financial statements and our Auditor's
Report thereon. Our opinion on the financial statements does not cover the other information and,
except to the extent otherwise explicitly stated in our repart, we do not express any form of
assurance concluslon thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with
the financial statements or our knowledge obtained In the audlt, or otherwise appears to be
materially mlsstated, If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether there is a material misstatement in the
financial statements or a material misstatement of the other Informatlon. If, based on the work we
have performed, we conclude that there is a material mlsstatement of thls other information, we
are required to report that fact. We have nothing to report in thls regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-the information given in the Dlrectors, Report for the financial year for which the financlal
statements are prepared is consistent with the financial statements; and
-the Directors, Report has been prepared in accordance with applicable legal requirements.
CavanaghKelly°
io

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
Independent Auditor's report to the Directors of Rainbow Daycare
(Eglish) Ltd for the year ended 30 June 2024
Matters on which we are required to report by exceptlon
In the Ilght of our knowledge and understanding of the charitable company and Its environment
obtained in the course of the audit, we have not identified material misstatements in the Directors,
Report.
We have nothing to report in respect of the following matters in relation to which the Companies
Act 2006 requlres us to report to you if, in our opinian.,
adequate accounting records have not been kept, or returns adequate for our audit have not
been received from branches not vlsited by us. or
the flnanclal statements are not in agreement with the accounting records and returns; or
certain disclosures of directors, remuneration specified by law are not made. or
we have not recelved all the Information and explanatlons we requlre for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small
companies, regime and take advantage of the small companies, exemption in preparing the
Dlrectors, Report.
Responsibilities of Directors
As explained more fully In the Directors, Responsibilities Statement, the directors (who are also the
trustees of the charitable company for the purpose of charity law), are responsible for the
preparatlon of the flnanclal statements and for belng satisfled that they give a true and fair view,
and for such internal control as the Directors determine is necessary to enable the preparation of
financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the flnanclal statements, the dlrectors are responsible for assessing the company's
ability to continue as a golng concern disclosing, as applicable, matters related to going concern
and using the going concern basis of accounting unless the directors either intends to liquidate the
charitable company or to cease operatlons, or has no realistic alternative but to do so.
CavanaghKelly"
li

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
Independent Auditor's report to the Directors of Rainbow Daycare
(Eglish) Ltd for the year ended 30 June 2024
Explanation as to what extent the audit was consldered capable of detecting
irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. The
objectives of our audit in respect of fraud are to assess the risk of material misstatement due to
fraud, design and implement appropriate responses to those assessed risks and to respond
appropriately to instances of fraud or suspected fraud identified during the course of our audit.
However, the primary responsibility for the prevention and detection of fraud rests with
management and those charged with governance of the charitable company.
In identifying and assessing risks of material misstatement in respect of irregularities, Including
fraud and non-compliance with laws and regulations, our procedures included the following..
We obtained understanding of the legal and regulatory requirements applicable to the charitable
company's financial statements and considered the most significant are the Companies Act 2006,
Financial Reporting Standards (FIS102), grant fundlng bodles regulation and UK taxation
legislation.
We have assessed the risk of material misstatement of the financial statements, including risk
of material rnisstatement due to fraud and how it might occur by holdlng discusslons with
management and those charged with governance.
We enquired of management and those charged with governance as to any known instances of
non-compliance or suspected non-compliance wlth laws and regulatlons;
-certain disclosures of directors, remuneration specified by law are not made; or
Understanding the internal controls established to mitigate risks related to fraud or non-
cornpliance with laws and regulations, and
Discussions amongst the audit engagement team regarding how fraud might occur In the
financial statements and any potential Indicators of fraud, As part of thls dlscussion we Identlfled
the following potential areas where fraud may occur.. timing of revenue recognition, recognition of
grant income and rnanagement override.
The audlt response to rlsks Identlfled Included..
Reviewing the financial statements disclosures and testing to supporting documentation to
assess compliance with the relevant laws and regulations above,,
Performing analytical procedures to identify any unusual or unexpected relationships that may
indicate risk of material misstatement due to fraud;
In addre551ng the risk of fraud through management override of controls, testing the
appropriateness of journal entries and other adjustments, assessing whether the judgements made
in making accounting estimates are reasonable and evaluating the business rationale of any
significant transactions that are unusual or outside the normal course of business. A further
description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description
forms part of our Auditors, Report.
CavanaghKelly°
12

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
Independent Auditor's report to the Directors of Rainbow Daycare
(Eglish) Ltd for the year ended 30 June 2024
Auditor's responsibilitles for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a
whole are free from material misstatement, whether due to fraud or error, and to issue an
Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but
is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a
material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, indlvidually or in aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
Auditor's responsibilities for the audit of the financial statements (Continued)
A further description of our responsibilities for the audit of the financial statements is located on
the Financlal Reporting Council's webslte at www.frc,org.uk/auditars responsibilitles. This
description forms part of our auditor's report.
Mr Ryan Falls F.C.A. (Senior Stat
For and on behalf of
CAVANAGHKELLY
Chartered Accountants & Statutory Auditors
36-38 Northland Row
Dungannon
Co Tyrone
BT71 6AP
Auditor)
Date
CavanaghKelly"
13

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
statement of Financial Position
As at 30 June 2024
2024
2023
Notes
Non-current Assets
Property, plant and equipment
701 709
726 499
Current assets
Receivables
Cash and cash equlvalents
io
16,406
96,806
113,212
9,808
98,681
108,489
Payables: Amounts falling due within
one year
li
{38,423)
31,541)
Net current assets
74,789
Total assets less current Ilabilities
776,498
803,447
Payables: Amounts falling due after one
year
12
{37,895)
(51,642)
Net Assets
738,603
751,805
REPRESENTED BY:
Unrestrlcted funds
Restrlcted funds
Total Funds
13
13
13
435,391
303,212
738 603
431,207
320,598
751 805
The dlrectors, statements shown on the following page form part of thSs Statement of Flnanclal Position,
CavanaghKelly"
15

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
statement of Financial Position
As at 30 June 2024 (Continued)
These financial statements have been prepared in accordance with the provisions applicable to the small
companies, regime within Part 15 of the Companies Act 2006.
The directors acknowledge their responsibilities for ensuring that the charitable company keeps
accountlng records whlch comply wlth Section 386. and for preparing flnancial statements whlch glve a
true and falr view of the state of affairs of the charitable company as at the end of the financial year and
of its incoming or outgoing resources for the financial year in accordance with the requirements of
sections 394 and 395 and whlch otherwise comply with the requlrements of the Companies Act 2006
relatlng to flnanclal statements, so far as appllcable to the charltable company.
The notes on pages 18 - 27 form an Integral part of the flnanclal statements,
The flnanclal statements were approved and authorlsed for Issue by the Board of Directors and signed on
thelr behalf by:
Catriona Donnellv
DIRECTOR
Date
Company Registration Number: N1601526
Charity Registration Number: 101018
CavanaghKelly°
16

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
Statement of Cash Flows
For the year ended 30 June 2024
2024
2023
Cash flows from operating activities
(Deficit)/Surplus for the year
(13,202)
(25,571)
Adjustments for,.
Depreciation
781
Movements in worklng capltal:
Movement in receivables
Movement in payables
(6,598)
6,513
284
Net cash generated from operating activities
11,872
10,878
Cash flows from investing activities
Payments to acquire propertyi plant and equlpmerst
(13,602)
Cash flows from financing activities
Repayment of bank loans
(13,747)
(13,900)
Net (decrease) in cash and cash equivalents
(1,875)
(16,624)
Cash and cash equivalents at beginning of financial year
98,681
115,305
Cash and cash equivalents at end of financial year
CavanaghKelly°
17

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 30 June 2024
I. GENERAL INFORMATION
Rainbow Daycare {Eglish) Ltd is a charitable company limited by guarantee incorporated in Northern
Ireland within the United Kingdom, In the event of the charitable company being wound up, the liability
in respect of the guarantee is limited to £ I per member of the charitable company. The address of the
registered office is as shown on page 2.
The charitable company constitutes a public benefit entity as defined by FRS 102.
2. ACCOUNTING POLICIES
The following accounting policies have been applled consistently in dealing with Items which are
considered material in relation to the charitable company's financial statements.
2.1 Statement of Compliance
The flnancial statements have been prepared In accordance wlth Accountlng and Reportlng by Charites..
statement of Recommended Practice (SORP) applicable to charities preparing their financial statements
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102) effective l January 2019 (Second Edition), the Financial Reportlng Standard applicable in the
United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006.
2.2 Basis of Preparation
The financial statements are prepared on a going concern basls under the historical cost conventlon.
Historical cost is generally based on the fair value of the consideration given in exchange for assets.
2.3 Income and Endowments
(i) Charitable Activities
Income from charltable activitles includes incorne received under contract or where entitlement to grant
funding is subject to specific performance conditions. It is recognised as earned as the related services
or goods are provided. Grant income is recognised in the Statement of Financial Activities when
receivable. Grant income included in this category provides funding to support projects and Is
recognised where there is entitlement, certainty of receipt and the amount can be measured with
sufficient reliability.
CavanaghKelly°
18

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 30 June 2024
2.3 Income and Endowments
(li) Other Trading activities
Voluntary income includes incoming resources from gifts, donations and grants and is recognised in full
In the Statement of Financlal Actlvities when receivable. Activities for generating funds are commercial
activities which are recognised as earned when the related goods and services are provided.
2.4 Resources Expenditure
Expenditure Is recognised when a liability is incurred, Contractual arrangements and performance
related grants are recognised as goods and services are supplied. Where costs cannot be directly
attributed to a particular heading, they have been allocated to activltles on a basls consistent with use
of resources. Staff costs and overhead expenses are allocated to activities on the basis of staff time
spent on those activities.
(l) Charitable Activities
Thls comprlses all the resources applled by the charitable company in undertaking its work to meet its
charitable objectives. Charitable activities will include the costs of governance arrangements which
relate to the general running of the charity.
2.5 Fund Accounting
The charitable company has two types of funds for which It Is responsible at the year-end:
Unrestricted Funds
Funds which are expendable at the dlscretlon of the Dlrectors in furtherance of
the objectives of the charitable company. In additions, funds may be held in order to finance capital
investment and working capital.
Restricted Funds
Income received for specific purposes. Such purposes are within the overall aims
of the charitable company.
CavanaghKelly"
19

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 30 June 2024
2.6 Propertyi Plant and Equipment and Depreciation
All property, plant and equipment are initially recorded at cost.
Depreciation is provlded at rates calculated to write off the cost less residual value of each asset over
its expected useful life, as follows:
Land and Buildings
Flxtures, Flttings & Equipment
Motor Vehlcles
20/0 Straight Line
25010 Straight Llne
200/0 Straight Line
2.7 Trade and Other Receivables
Trade and other receivables are Initially recorded at fair value and thereafter stated at cost less
impairment losses for bad and doubtful debts.
2.8 Trade and Other Payables
Trade and other payables are Initially recognised at fair value and thereafter stated at cost.
2.9 Taxation
As a charity, the charitable company Is not liable to Corporation Tax.
2.10 Critlcal accounting judgements and estimation uncertainty
Estimates and judgements are continually evaluated and are based on historlcal experSence and other
factors, including expectations of future events that are believed to be reasonable under the
circumstances.
Critical judgements in applying the entity's accounting policies
There are no critical judgements In applying the charlty's accounting pollcles.
Critical accounting estimates and assumptions
There are no actual accounting estimates and assumptions.
CavanaghKelly°
20

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 30 June 2024
2.11 Financial instruments
(i ) Financial assets
Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed
by related parties and are initially recognised at transaction price, unless the arrangement constitutes a
financing transaction, where the transaction is measured at the present value of the future receipts
discounted at a market rate of interest. Such assets are subsequently carrled at amortised cost using
the effective interest method.
At the end of each reportlng perlod flnanclal assets measured at amortlsed cost are assessed for
objective evidence of impairment. If an asset is impaired the impairment loss is the difference between
the carrying amount and the present value of the estimated cash flows discounted at the asset's original
effective interest rate. The impairment loss is recognised in the Statement of Financial Activitles.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was
recognlsed, the impairment is reversed. The reversal is such that the current c2rrylng amount does not
exceed what the carrying amount would have been had the impairment not previously been recognised.
The impairment reversal Is recognlsed in the Statement of Financial Activitles.
Flnanclal assets are derecognlsed when (a) the contractual rights to the cash flows from the asset
expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are
transferred to another party or (c) despite having retained some significant risks and rewards of
ownershlp, control of the asset has been transferred to another party who has the practical ability to
unilaterallv sell the asset to an unrelated third party without imposinq additional restrictions.
(li) Financlal liabllities
Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts
owed to related parties are initially recognised at transaction price, unless the arrangernent constitutes
a financing transaction, where the debt instrument is measured at the present value of the future
recelpts dlscounted at a market rate of interest. Debt instruments are subsequently carried at
amortised cost, using the effective interest rate method. Fees paid on the establishrnent of loan
facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all
of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the
extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee
is capitali5ed as a pre-payment for liquidity services and amortised over the period of the facility to
which it relates.
CavanaghKelly"
21

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 30 June 2024
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary
course of business from suppliers. Accounts payable are classified as current liabilities if payment is due
within one year or less. If not, they are presented as non-current liabilities. Trade payables are
recognised initially at transaction price and subsequently measured at amortised cost using the effective
interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual
obligation is discharged, cancelled or expires.
2.12 Pension and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed
contributions are paid into a penslon fund and the charity has no legal or constructive obligation to pay
further contrlbutions even if the fund does not hold sufficlent assets to pay all employees the benefits
relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when
they are due. If contribution payments exceed the contribution due for the service, the excess is
recognised as a prepayment.
CavanaghKelly°
22

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 30 June 2024
3. INCOME AND ENDOWMENTS
Unrestricted
Funds
2024
Restricted
Funds
2024
Total Funds
Total Funds
2024
2023
Charitable Activities
Children Fees & Daycare
Playgroup & Out of School Income
SELB PEGS
332,618
97,953
103,579
332,618
97,953
103,579
324,677
84,650
83,245
Grant Income:
Pathway
Covld Grants
Mllk Grant
Department af Educatlon
Department of Employment
BSO - Supported Playgroup Place
27,356
27,356
21,560
3,002
3,002
2,174
500
500
3,055
540
Total Income
Activities
from
Charitable
534,150
30,858
565,008
519,900
Income on charltable actlvltles Sn the year ended 30 June 2023 of £519,900 was made up of unrestrlcted
funds of £496,166 and restricted funds of £23,734.
Income from Other Trading
Actlvltles
Unlforms
Fundraising
Other Income
2,125
1,335
312
2,125
1,335
312
433
1,422
3,772
3,772
1,855
All income from other trading activities In the year ended 30 June 2023 was unrestricted.
CavanaghKelly
23

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 30 June 2024
5. RESOURCES EXPENDED
Unrestricted
Funds
2024
Restricted
Funds
2024
Total Funds
Total Funds
2024
2023
Charitable activities
Wages
Pension
408,325
5,793
9,976
11,580
2,626
2,847
15,758
3,125
3,691
1,074
4,729
14,049
777
3,210
2,171
6,656
3,814
575
3,500
10,335
10,264
5,958
1,252
4,542
4,080
2,044
726
1,350
17,913
426,238
5,793
9,976
11,580
2,626
2,847
15,758
3,125
3,691
6,858
4,729
17,051
3,917
3,210
2,171
6,656
3,814
575
401,691
6,888
11,323
14,057
1,378
2,941
12,974
1,728
2,444
6,628
3,385
18,743
819
1,885
1,377
6,861
2,458
523
3,349
12,628
16,715
6,823
1,252
3,355
1,594
1,049
1,128
1,329
Insurance
Light & Heat
Water Charges
Telephone
Cleaning
Adverts Prlntlng & Statlonery
Travel expense
Resources
Equlpment & Toys
Food and Snacks
Trainlng
Early Years Fees
Jumpers/ Uniforms
Repalrs & Malnt
IT equlpment and malntenance
Bank fnterest & Fees
Loan Interest Payments
Bookkeeplng and office support
Depreciation Land and Buildlngs
Depreclatlon Fixture & Fittings
Depreciation Motor Vehicles
Audit
Profe551ona l Fees
General expenses
Gift5
Outings
5,784
3,002
3,140
3,500
10,335
16,715
6,823
1,252
4,542
4,080
2,044
726
1,350
6,451
865
544,827
37,155
581,982
547,326
Expendlture on charitable activities in the year ended 30 June 2023 of £547,326 was made up of
unrestricted funds of £516,276 and restricted funds of £31,050.
CavanaghKelly"
24

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 30 June 2024
6. NET INCOME/(EXPENDITURE) FOR THE YEAR
Net Income/{expenditure) is stated after charglngl{creditlng)'.
2024
2023
Depreciation
Audltor remuneratlon
24,790
4,542
24,790
3,355
7. INDEPENDENT AUDITOR'S REMUNERATION
The independent audltors fee were £4,542 (2023., £3,355)
8. STAFF COSTS AND EMPLOYEE BENEFITS
The average number of persons employed by the charitable company durlng the year 24 (2023.. 27).
The total staff costs and employee benefit's was as follows:
2024
2023
Wages and salarSes
Social security costs
Pension costs
408,126
18,112
5,793
432,031
382,968
18,723
6,888
408,579
No employee of the chartlable company received total employee benefits of more than £60,000.
The dlrectors are consldered the key management of the charlty.
8.1 DIRECTORS, REMUNERATION
The Directors received nor waived any rernunerations or any other benefits during the year and no
relmbursements of expenses Incurred,
CavanaghKelly"
25

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 30 June 2024
9. PROPERTY, PLANT AND EQUIPMENT
Land and
Buildings
freehold
Motor
Vehicles
Fixtures,
Fittings
and
Equipment
Total
Cost
At 30 June 2023
Additions
At 30 June 2024
835,623
17,600
68,362
921,585
835,623
17,600
68,362
921 585
Depreclation
At 30 June 2023
Charge for the year
At 30 June 2024
135,286
16,715
152,001
8,645
1,252
9,897
51,155
6,823
57,978
195,086
219 876
Net Book Values
At 30 June 2024
683,622
7,703
10,384
701 709
At 30 June 2023
700,337
8,955
17,207
726 499
10. RECEIVABLES
2024
2023
Trade receivables
other debtors
13,868
9,808
16,406
9,808
11. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Bank loans
Trade payables
Accruals and deferred income
17,248
684
20,491
38,423
17,248
660
13,633
31,541
12. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2024
2023
Bank loans
37,895
37,895
51,642
51,642
CavanaghKelly°
26

Rainbow Daycare (Eglish) Ltd
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 30 June 2024
12. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
Bank loan maturity analysis
2024
2023
Repayable withln one year
Repayable between one and two years
17,248
37,895
17,248
51,642
The bank loans are secured by the assets of the Charity.
13. ANALYSIS OF NET ASSETS
Unrestricted
funds
2024
Restricted Total funds
funds
2024
Total funds
2024
2023
Property, plant and equlpment
Current assets
Current liabilities
Non-current Ilabl lities
397,636
107,234
(31,584)
37,895
435,391
304,073
701,709
5,978
113,212
{6,839) (38,423)
37,895
738 603
726,499
108,489
(31,541)
303 212
751,805
14. ANALYSIS OF FUNDS
Opening
Balance
Income
Expenditure
Transfer
Between
Funds
Closing
Balance
Department of Agriculture
and Rural Development
Pathways
Mllk Grant
Employment grant
Restricted Funds
309,663
(6,451)
(27,202)
(3,002)
500
(37,155)
303,212
10,935
27,356
3,002
500
30,858
(11,089)
320,598
(11,089)
303,212
Unrestricted Funds
431,207
537,922
(544,827)
11,089
435,391
Total Funds
751 805
568 780
581 982
738 603
15. CONTINGENT LIABILITIES
A contingent Ilabl1￿tY exlsts to repay grants recelved should certaln condltlons not be fulfilled by the
charitable company. In the opinion of the dlrectors the terms of these letters of offer have been complled
with and no 105s Is expected.
CavanaghKelly°
27