GLENULLIN CHILDCARE TRUST ProfSt and Loss Account for the year ended 31 December 2022 Notes 2022 2021 Turnover 280,044 278,606 Cost of sales (16,455) 113,191) Gross proflt 263,589 265,415 Administrative expenses (273,605) {253,830) Operatlng {loss)IprofSt (10,0161 11,585 Interest receivable 55 {Losgllprofit on ordlnary acllvltles before taxatlon 110,016) Tax on Iloss)Iprofil on ordinary actlviti8S (Lossllproflt for the f Inanclal year 110,016) 11,640 Retalnèd11088)Iproflt for the flnanclal yéar 10,016 11,640 All actlvities derive from continulng operalSons. The notes on pages 17 to 21 form part of these financial statemenls. There are no other recognised gains or losses oth8r than the profit for the year. Accordingly no statement of total recognlsed gains and108ses is given. There is no materlal dlfference be￿een the profit on ordlnary actlvltles before taxation and the profit for the financial year staled above, and their historic cost equivalents. 15 GLENULLIN CHILDCARE TRUST Balance Sheet as at 31 December 2022 Not9S 2022 2021 Flxed as5èt$ Tangible 9s861s 67,268 77,332 Curront a58ets Debiors Cash al bank and in hand 14,381 57,257 71,638 15.259 65,427 80,686 Credltors: amounts falllng duo wlthln ono yèar 121,5201 {17,548} Net currant assets 50,118 63,138 Total assets less current Ilabllltle8 Credltors,. amounts falllng due after moro than one year 117,386 140,470 (9,6191 (22,687) Net asset8 107,767 Capltal and re8erve8 Proftl and loss account 117,783 107,767 Shareholder8, fund8 117,783 107,767 117,783 The dlr8clor are s8tlsfled that thè company is 8nlilled lo exampiion from the requirement to obtaln an audit under section 477 of the Companies Act 2006. Members have not required the company to obtain an audlt in a¢cordance wllh sectlon 476 of the Aci. The dlrectors acknowledge Ihelr responsibilit18s for cornplying with the requirements of the Companies Act 2006 with respect lo accounling records and the preparatlon of accounts. The accounts have been prepared in accordance with the provislons in Part 15 of the Companies Act 2006 applicable lo companies subject to the small companies regime. Approved by the board on 17 September 2023 Raichéal Mhic Niocaill Chairperson ary Kale McLaughl' Secretary 16 GLENULLIN CHILDCARE TRUST Notes to the Accounts for the year ended 31 December 2022 1 Accountlng pollcles Th8 accounts havè been prepared under the hlslorical cost convènllon and in accordance with th8 Financial Reportlng Standard for Smaller Entitles (8ffecllve Aprll 2008). Tumover Turnover represents the value, nel of valua added lax and discounts, of goods provided to CUSlom8rs and work carried out in respect of seNices provid8d lo customers. Depreclatlon Depreciation has been provided al th8 followlng rates in order lo write off the assets over their eslimaled useful Ilves. Leasehold Improvements Fixtures & Fittings Nursery Equipment Stocks Stock is valued at the lower of Cost and net re81i$able value. Fund accountlng The charity maintains various types of funds as follows.. 12.50/0 reducing balance 15 % reducing balance 00/0 reducing balance Restricted Funds , grants, donations and legacies received whlch are allocated by the donor for specific purposes. Unrestrlcled Funds: Designa18d Funds.. amounts which have been pul aslde out of unrestrlcted funds at the dlscretion of the commlttee, and whlch are therefore not aV8ilabl8 for other purposes. General unresiricled funds: represent unr8slricled income whlch is expendable at the discretion of the committee in the furtherance of the objects of the charity. Such funds may be held in order to finance both working c8pilal and capital investment. Incomlng resources All Income is recognised In the statement of financial acllvllles when thè conditlons for receipt have been met and there is reasonable assurance of receipt. Allo¢ation of costs The committee's operating costs are allocated between expenditure for charitable purposes, and The company operates a defined contribution pension scheme. Contributions are charged to the Direct charltable expendlture Direct charitable expenditure includes all expenditure directly related to the objects of the charity. 17 GLENULLIN CHILDCARE TRUST Notes to the Accounts for the year ended 31 Dec8mber 2022 Income Unrestricted Restricted 2022 2021 Fee income Fund raising events Milk returns Snack and resource donation Clothes bank 227,221 630 499 1,600 227,221 630 499 1,600 206,316 230 322 1,035 40 207,943 229,950 229,950 Total grants receivable Grants towards capital costs Grants recelvable 50,724 12,541 12,541 63,265 12.541 50,094 280,044 82,677 12,014 70,663 278,606 50,724 280,674 3 Informatlon regardlng Employees and dlrectors 2022 2021 Wages and salaries Furlough and statuory payments recoverable Penslons Employers NIC 231,540 (11,877) 7,743 5,643 233,049 205,666 (5,857) 7,222 8,019 215,050 The average monthly number of employees . Management Childcare Staff 19 20 18 GLENULLIN CHILDCARE TRUST Notes to the Accounts for the year ended 31 December 2022 3 Tanglble fixed assets Leasehold Improvements Nursery Equlpment Flxtures & Fittlngs Total Cost Al 1 January 2022 Al 310ecember 2022 261,427 261,427 45,531 45,531 5,120 5,120 312,078 312,078 Depreclatlon Al 1 January 2022 Charge for the year At 31 December 2022 199,983 7,681 207,664 29,643 2,383 32,026 5,120 234,746 10,064 244,810 Net book value Al 31 December 2022 53,763 13,505 67,268 At 31 Dacember 2021 61.444 15,888 77,332 4 D•btors 2022 2021 Trade deblors Bad debt provision 15,531 11,150) 14,381 16,409 (1,150) 15,259 5 Credltors.. amounts falllng due wlthln one year 2022 2021 Trade creditors Other creditors Amounts owed to related parties Deferred income 2,602 6.377 3,744 1,790 note 12 note 7 12,541 21,520 12,014 17,548 19 GLENULLIN CHILDCARE TRUST Notes to the Accounts for the ear endod 31 Dac8mber 2022 6 Credltors: amounls falllng duo after ono yoar 2022 2021 Deferred inconie 9,619 22,687 9,619 22,687 This Is deferred grant income which represents fundlng r8celvad In respect of capital costs noi yel releasod to the profit and loss account, Nursery Equlpment Flxtures & Fltting8 Total At 518rt of year R8C8lved durlng year Released during year 34,701 34,701 12,541 22,160 12.541 22.160 To be raleased within one year after more than one year 12.541 9,619 22,160 12,541 9.619 22,160 8 Movoment In rostrlctèd funds Capltal Spend Expendlture Income Balance at year end Early Years Bright Start Pald Through HSCB - building refurbishments 12,541 (12,541) 12.541 9 Taxatlon H M Revenue & Customs have accepted Ihat the Glenullln Childcare Trust is a charity for tax purposes, all income and gains are exempt from tax, provided they are only applied for charitable purposes. 20 GLENULLIN CHILDCARE TRUST Notes to the Accounts for the year ended 31 D6cember 2022 10 Contingenclos and commitments At th6 year-end, funders rèserve the right to withhold any or all of the payments andlor require the Trust lo repay part or all of the gr8nt if there is a subslanlial or material change in the nature, scale or timing of the project, or if the grant is used for purposes other than those specified in the application or agreed variations, 11 Post balance sheet events There were no post balance sheet events to report. 12 Related party transactlons During the period, the company entered into Iransaclions, in the ordinary course of business with other related parties. Transactions enler6d Into, and trading balances outstanding at 31 Decamb6r 2021, are as follows: Balance owed froml{to) ralated party Related party Nature of transactlon Cost Community contribution Patrlcia Mullan Loan lo Trust Patricia Mullan orSglnally provided a loan of £9721 to the Glenullin Childcare Trust in 2007 as the trust had to raise this sum as part of their communlty contrlbution towards a capital funding package supported by Invest Nl. The amount borrowed and repald during the intervening period leaves the balance al £0. 7 Share capltal Glenullin Childcare Trust being a company Ilmlled by guarantee and havlng no share capital, 21 GLENULLIN CHILDCARE TRUST Proflt and Loss Account for the year andad 31 Decembor 2022 The accounts have baan prepared in accord8nce with Ihe provisions In Part 15 01 the Companies Act 2006 8pplicable to companies subject to Ihe small companies rogime, 2022 2021 Turnover 280,044 278,606 Cost of sales (16,455) (13,191) Gross proflt 263,589 265,415 (273.605) {253,830) Operatlng {loss)Iproflt Interest receivable (10,016) 11,585 55 (Loss)Iproflt before tax 10,016 11,640 ?? GLENULLIN CHILDCARE TRUST Schèdules to the Proflt and Loss Account for the year anded 31 December 2022 Th8 accounts have b88n prepared in accord8nGO wilh Iho provislons in Part 15 of the Companias Act 2006 applicable to comp8nie5 subject lo Ihe small comp8nies regimg. 2022 2021 Turnovor Grants receivable Early Years Childcare Recovery Support Fund Early Years Childcare Sustalnability Fund EA Regional Getting ready lo Learn EA Regional Outdoor Learning EA Regional Empow8ring Improvemenl Department of Fuel Grant DFC Hearing Equipment Fee incorne Education Restart Funding GRTL EA Reglonal Engage11 &111 Fund raising events Mllk returns Snack and resource donalion Clothes bank 32,616 28,315 33,610 10,167 500 1,000 800 800 1,091 227,221 206,316 5,346 480 2,912 230 322 1,035 40 3,120 630 499 1,600 280,044 278,606 Cost of sales Food Mat6rialslOutlngs 13,508 2,947 16,455 10,290 2,901 13,191 Gross proflt 263,589 265.415 Admlnlstratlve oxpenses Employee costs.. Wages and salaries Furlough and slatuory payments recoverable Pensions Employers NIC Training Uniforms 231,540 (11,877) 7,743 5,643 294 537 233,880 205,666 (5.857) 7,222 8,019 2,587 474 218,111 Premises costs: Rent Rates Repairs and renewals Light and heat Cleaning 14,560 571 6,198 7,420 3,096 31,845 14.560 890 2,445 4,545 3,105 25,545 23 GLENULLIN CHILDCARE TRUST Schedules to the Proflt and Loss Account for the ear ended 31 December 2022 Tha 8ccounls have been prepared in 8ccordanc& wilh Ihe provisions in Part 15 of Ihe Companies Act 2GQ6 applicable to companies subject lo llie small comparpios regimg. 2022 2021 General administrative expenses.. Telephone and postage Stationery and printing Bank charges Insurance Depreciation R&lease of grant on capital expenditure Bad debts provlsion Sundry expenses 716 2,683 262 1,186 10,064 112,541} 765 2,646 208 1,020 11,582 (12,014) 1,150 1,198 397 2,767 Legal and professional costs: Accountancy fees Payroll Services Other prof8ssSonal fees 1,260 2,226 1,627 5.113 1.280 1,482 857 3,619 273,605 253,830 Operatlng {loss)Iproflt 10,016 11,585 24