GLENULLIN CHILDCARE TRUST
Profit and Loss Account for the year ended 31 December 2024
| Notes 2024 £ Turnover 2 347,415 Cost of sales (15,055) Gross profit 332,360 Administrative expenses (345,129) Operating loss (12,769) Loss on ordinary activities before taxation (12,769) Tax on loss on ordinary activities - Loss for the financial year (12,769) Retained loss for the financial year (12,769) |
2023 £ 307,692 (23,765) 283,927 (296,538) (12,611) (12,611) - (12,611) (12,611) |
|---|---|
All activities derive from continuing operations. The notes on pages 17 to 21 form part of these financial statements.
There are no other recognised gains or losses other than the profit for the year. Accordingly no statement of total recognised gains and losses is given.
There is no material difference between the profit on ordinary activities before taxation and the profit for the financial year stated above, and their historic cost equivalents.
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GLENULLIN CHILDCARE TRUST
| Balance Sheet as at 31 December 2024 Notes 2024 £ Fixed assets Tangible assets 3 54,924 Current assets Debtors 4 19,195 Cash at bank and in hand 19,231 38,426 Creditors: amounts falling due within one year 5 (10,963) Net current assets 27,463 Total assets less current liabilities 82,387 Creditors: amounts falling due after more than one year 6 - Net assets 82,387 Capital and reserves Profit and loss account 9 82,387 Shareholders' funds 82,387 |
2023 £ 58,521 23,539 29,265 52,804 (15,018) 37,786 96,307 (1,151) 95,156 95,156 95,156 |
|---|---|
The director are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Approved by the board on 21 September 2025
Matthew Godwin Chairperson
Ráichéal Mhic Niocaill Treasurer
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GLENULLIN CHILDCARE TRUST
Notes to the Accounts for the year ended 31 December 2024
1 Accounting policies
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Leasehold Improvements 12.5% reducing balance Fixtures & Fittings 15% reducing balance Nursery Equipment 0% reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
Fund accounting
The charity maintains various types of funds as follows:
Restricted Funds : grants, donations and legacies received which are allocated by the donor for specific purposes.
Unrestricted Funds:
Designated Funds: amounts which have been put aside out of unrestricted funds at the discretion of the committee, and which are therefore not available for other purposes.
General unrestricted funds: represent unrestricted income which 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 capital and capital investment.
Incoming resources
All income is recognised in the statement of financial activities when the conditions for receipt have been met and there is reasonable assurance of receipt.
Allocation of costs
The committee's operating costs are allocated between expenditure for charitable purposes, and Themanagemecompa n t and administration.y operates a defined contribution pension scheme. Contributions are charged to the
Direct charitable expenditure
Direct charitable expenditure includes all expenditure directly related to the objects of the charity.
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GLENULLIN CHILDCARE TRUST
Notes to the Accounts for the year ended 31 December 2024
| 2 Income Fee income Fund raising events Halifax Foundation NI Milk returns Snack and resource donation Donations Clothes bank Total grants receivable Grants towards capital costs Grants receivable |
Unrestricted £ 288,203 6,697 - 815 1,995 1,859 - 299,569 47,846 - 47,846 347,415 |
Restricted £ - - - - - - - - 8,468 (8,468) - - |
2024 £ 288,203 6,697 - 815 1,995 1,859 - 299,569 56,314 (8,468) 47,846 347,415 |
2023 £ 251,714 4,312 - 901 1,675 - 40 258,642 61,591 (12,541) 49,050 307,692 |
|---|---|---|---|---|
- 3 Information regarding Employees and directors
| Wages and salaries Furlough and statuory payments recoverable Pensions Employers NIC The average monthly number of employees : Management Childcare Staff |
2024 £ 286,817 (4,796) 9,783 16,553 308,357 1 20 |
2023 £ 256,406 (10,932) 8,223 7,546 261,243 1 19 |
|---|---|---|
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GLENULLIN CHILDCARE TRUST
Notes to the Accounts for the year ended 31 December 2024
3 Tangible fixed assets
| Cost At 1 January 2024 Additions At 31 December 2024 Depreciation At 1 January 2024 Charge for the year At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 4 Debtors Trade debtors Bad debt provision 5 Creditors: amounts falling due Trade creditors Other creditors Amounts owed to related parties Deferred income |
Leasehold Improvements £ 261,427 - 261,427 214,385 5,879 220,264 41,163 47,042 within one year |
Nursery Equipment £ 45,531 4,004 49,535 34,052 1,722 35,774 13,761 11,479 note 12 note 7 |
Fixtures & Fittings £ 5,120 - 5,120 5,120 - 5,120 - - 2024 £ 20,345 (1,150) 19,195 2024 £ 2,450 7,363 - 1,150 10,963 |
Total £ 312,078 4,004 316,082 253,557 7,601 261,158 54,924 58,521 2023 £ 24,689 (1,150) 23,539 2023 £ 2,467 4,083 - 8,468 15,018 |
|---|---|---|---|---|
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GLENULLIN CHILDCARE TRUST
Notes to the Accounts for the year ended 31 December 2024
6 Creditors: amounts falling due after one year
Deferred income
| 2024 £ - - |
2023 £ 1,151 1,151 |
|---|---|
This is deferred grant income which represents funding received in respect of capital costs not yet released to the profit and loss account.
| At start of year Received during year Released during year To be released - within one year - after more than one year |
Nursery Equipment £ 9,619 - (8,468) 1,151 1,150 - 1,150 |
Fixtures & Fittings £ - - - - - - - |
Total £ 9,619 - (8,468) 1,151 1,150 - 1,150 |
|---|---|---|---|
8 Movement in restricted funds
| Early Years Bright Start Paid Through HSCB building refurbishments |
Income £ - - 8,468 8,468 |
Capital Spend £ - (8,468) (8,468) |
Expenditure £ - - |
Balance at year end £ - - - |
|---|---|---|---|---|
9 Taxation
H M Revenue & Customs have accepted that the Glenullin Childcare Trust is a charity for tax purposes, all income and gains are exempt from tax, provided they are only applied for charitable purposes.
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GLENULLIN CHILDCARE TRUST
Notes to the Accounts for the year ended 31 December 2024
10 Contingencies and commitments
At the year-end, funders reserve the right to withhold any or all of the payments and/or require the Trust to repay part or all of the grant if there is a substantial 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 transactions
During the period, the company entered into transactions, in the ordinary course of business with other related parties. Transactions entered into, and trading balances outstanding at 31 December 2021, are as follows:
| Balance owed | |||
|---|---|---|---|
| from/(to) | |||
| related party | |||
| Related party | Nature of transaction | Cost | |
| Community contribution | - | ||
| Patricia Mullan | Loan to Trust | - | - |
Patricia Mullan originally provided a loan of £9721 to the Glenullin Childcare Trust in 2007 as the trust had to raise this sum as part of their community contribution towards a capital funding package supported by Invest NI. The amount borrowed and repaid during the intervening period leaves the balance at £0.
7 Share capital
Glenullin Childcare Trust being a company limited by guarantee and having no share capital.
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GLENULLIN CHILDCARE TRUST
Profit and Loss Account for the year ended 31 December 2024
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
| Turnover Cost of sales Gross profit Operating loss Loss before tax |
2024 £ 347,415 (15,055) 332,360 (345,129) (12,769) (12,769) |
2023 £ 307,692 (23,765) 283,927 (296,538) (12,611) (12,611) |
|---|---|---|
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GLENULLIN CHILDCARE TRUST
Schedules to the Profit and Loss Account for the year ended 31 December 2024
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
| Turnover Grants receivable EA Regional Getting ready to Learn EA Regional Non Consolidated Funding Department of Fuel Grant Northern Ireland Childcare Subsidy Scheme Fee income Energy Bills Support Scheme CFNI Evishagaran Halifax Foundation NI EA Regional Engage II & III Fund raising events Donations Milk returns Snack and resource donation Clothes bank Cost of sales Food Materials/Outings Gross profit Administrative expenses Employee costs: Wages and salaries Furlough and statuory payments recoverable Pensions Employers NIC Training Uniforms Premises costs: Rent Rates Repairs and renewals Light and heat Cleaning |
2024 £ 42,114 900 2,400 800 1,632 288,203 - - - - 6,697 1,859 815 1,995 - 347,415 12,223 2,832 15,055 332,360 286,817 (4,796) 9,783 16,553 1,668 (45) 309,980 13,320 629 1,688 5,443 2,886 23,966 |
2023 £ 38,112 590 - - - 251,714 600 4,000 4,500 1,248 4,312 - 901 1,675 40 307,692 16,019 7,746 23,765 283,927 256,406 (10,932) 8,223 7,546 570 756 262,569 14,560 320 1,846 5,460 4,240 26,426 |
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GLENULLIN CHILDCARE TRUST
Schedules to the Profit and Loss Account for the year ended 31 December 2024
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
| General administrative expenses: Telephone and postage Stationery and printing Bank charges Insurance Depreciation Release of grant on capital expenditure Sundry expenses Legal and professional costs: Accountancy fees Payroll services Other professional fees Operating loss |
2024 £ 817 1,995 233 1,510 7,602 (8,468) 1,590 5,279 2,280 2,303 1,321 5,904 345,129 (12,769) |
2023 £ 819 2,668 219 2,089 8,746 (12,541) 465 2,465 1,440 1,859 1,779 5,078 296,538 (12,611) |
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