## 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. 1 ## 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 2 ## 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. 3 ## 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| |---|---|---| 4 ## 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| |---|---|---|---|---| 5 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. 6 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. 7 ## 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)| |---|---|---| 8 ## 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| |---|---|---| 9 ## 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)| |---|---|---| 10