COMPANY REGISTRATION NUMBER: NI054445 CHARITY REGISTRATION NUMBER: NIC104520
Laughter Land Company Limited by Guarantee Unaudited Financial Statements 31 March 2023
S O'NEILL & COMPANY
Chartered accountants 14 Main Street Toomebridge Co. Antrim Northern Ireland BT41 3TQ
Laughter Land
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2023
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 6 |
| Statement of financial activities (including income and | |
| expenditure account) | 8 |
| Statement of financial position | 9 |
| Statement of cash flows | 10 |
| Notes to the financial statements | 11 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 21 |
| Notes to the detailed statement of financial activities | 23 |
Laughter Land
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2023.
Reference and administrative details
Registered charity name Laughter Land Charity registration number NIC104520 Company registration number NI054445 Principal office and registered The Unit office Black Park Road Toomebridge Co Antrim BT41 3SL
The trustees
Mrs Anna Marie McFerran Mrs Natasha McCullough (Resigned 24/10/2023) Ms Maria McCloskey (Vice-Chairperson) (Resigned 24/10/2023) Ms Amy-Beth Gervin (Secretary) (Resigned 24/10/2023) Ms Roisin Higgins (Chairperson) Ms Fiona Gilmore Ms Monica Keenan Mrs Aisling Murphy (Appointed 25/10/2022) Mrs Orla Diamond (Treasurer) (Appointed 25/10/2022) Mrs Victoria Young (25/10/2022 to 24/10/2023) Mrs Emma Nugent (25/10/2022 to 01/04/2023) Miss Aisling Diamond (Resigned 24/10/2023) Mrs Jessica McGeehan (Resigned 24/10/2023)) Mrs Fiona O’Kane (Appointed 24/10/2023) Miss Justine Quinn (Appointed 29/01/2024) Independent examiner S O'Neill & Company 14 Main Street Toomebridge Co. Antrim Northern Ireland BT41 3TQ
1
Laughter Land
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Structure, governance and management
Organisational Structure
Laughter Land was established under a Memorandum of Association which established the objects and powers of the Company and is governed under its Articles of Association. It is a charitable company limited by guarantee and was incorporated on 24 March 2005.
Laughter Land's charity registration under The Charity Commission for NI was approved on 11 March 2016.
The charitable company is governed by the Board of Directors, and directors are required to attend at each AGM. There is a minimum of five directors on every Board. One third of the directors shall retire from office at the AGM. The directors to retire in every year shall be those who have been longest in office since their last election, but between persons who became Directors on the same day as those to retire shall be determined by lot. A retiring Director shall be eligible for re-election.
Directors may meet together for dispatch of business, adjourn and otherwise regulate meetings as they think fit and questions arising at any meeting shall be decided by a majority of votes. In the case of an equality of votes, the Chairperson shall have a second or casting vote. The quorum necessary for the transaction of business of the directors may be fixed by directors and unless so fixed at any other number shall be five directors.
New directors are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making process, key internal controls and procedures regarding funding applications, child registers, cash collection, review of wages and staffing, cheque signatories and recent performance of the Trust. They are free to discuss any issue with other directors.
Mrs Geraldine McCoy is appointed to supervise the day to day operations of the Company. There is no remuneration paid to any of the directors by the Trust in relation to this role.
RISK MANAGEMENT
The Directors have reviewed the key risks facing the charity and have established procedures to manage those risks.
2
Laughter Land
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Objectives and activities
The principal activity of the Company is to enhance the development and education of children aged 3-11 in Toomebridge and its environs without distinction of gender, disability, ethnic identity, nationality, religion or political affiliation by:
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providing the necessary facilities for the daily care, recreation and education of children aged from 3-11;
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advancing the education and training of persons involved in the provision of such care; and
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encouraging the study of the needs of such children and their families and promoting public interest in and recognition of the needs of such children and their families in the area of benefit.
The focus of our work
The main focus of our work continued to be the provision of pre-school and after school childcare to children in the local community.
How our activities deliver public benefit is to:
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enable parents of pre-school children to access affordable, safe and secure childcare which provides high quality care and education and contributes to the development and well-being of children in the local community;
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provide an after-school service to support working parents and provide an affordable, safe and secure environment after-school.
Those who use and benefited from our services
| e who use and benefited from our services | ||
|---|---|---|
| 2023 | 2022 | |
| Pre-school funded | 20 | 26 |
| Pre-school non-funded | 14 | 14 |
| After-school | – | 60 |
The charitable company is registered and inspected by the Department of Education for Northern Ireland and are required to follow and implement the Curriculum Guidance for Pre-School Education. Early years inspectors last follow up inspection was January 2020 where it was concluded that the quality of education provided by the playgroup was very good.
In addition to our staff we also have an assigned social worker, Grainne O'Kane, who keeps us up to date on childcare issues.
We also employ the services of Ann Dixon an Independent Early Years Advisor who visits us up to 5 times per year providing staff training, advice on the curriculum, networking and help with other playgroup matters.
3
Laughter Land
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Achievements and performance
Management have DENI funding allocation of 20 children and DENI have made a provisional allocation of 26 funded places for 2023/24.
Fundraising for the year 2022/23 included a Sponsored walk which helped to fund our playgroup annual school trip as well as cover essential costs including training. The children benefited from a sports day event which had funding from the Jubilee payment. Other fund raising during the year included a Halloween disco, a Saint Patrick's Day disco, a table quiz and a bake sale.
All staff have updated safeguarding training. The centre manager, Pat Downey, has worked towards retirement this year making way for the promotion and development of our forthcoming manager, Geraldine McCoy. We wish Pat all the best in her retirement and thank her for her years of service to the organisation. We wish Geraldine all the best in her new role. We thank our local community for their continued help in support. We hope to further develop special educational needs areas for our children in the forthcoming year, together with making improvements to our outdoor area.
Financial review
The surplus for the year was £600 (deficit 2022: £9,786) which has increased(2022: decreased) the total fund balance carried forward to £14,646 (2022: £14,046). The Statement of Financial Activities for the year is detailed on page 8.
Reserves policy
The management committee has examined the charity's requirements for reserves in light of the main risks of the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 2 and 3 months of expenditure. Expenditure for 2022-23 was £106,130 (2021-22 £115,404) therefore the target is £17,688 to £26,532 (2021-22 £19,234 to £28,851) in general funds. At the year end the unrestricted funds not committed or invested in tangible fixed assets are not within the target amount range. The management committee are aware of this and have received a number of grants in the 2024 financial year from different granting bodies.
4
Laughter Land
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Plans for future periods
The Charity planned to continue the activities outlined above in the forthcoming years, subject to satisfactory funding arrangements.
At present the Management Committee are seeking a new site within the area to accommodate Laughter Land. In relation to this, it is hoped that this may be facilitated to the grounds of Anahorish Primary School with a submission being made to the Education Board for pre-approval. We are still awaiting a response from them regarding this. Other options are being considered.
We have also been fortunate in recruiting a vast number of new committee members this year with a large variety of skills. With the implementation of new social media platforms and fundraising plans to name but a few, the changes that are due to be implemented this forthcoming year, we are very enthusiastic for the future of Laughter Land.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 28 March 2024 and signed on behalf of the board of trustees by:
Mrs Roisin Higgins (Chairperson) Director
5
Laughter Land
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Laughter Land
Year ended 31 March 2023
I report to the trustees on my examination of the financial statements of Laughter Land ('the charity') for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the ‘2008 Act’) and the Companies Act 2006 (‘the 2006 Act’). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination.
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the 2008 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
6
Laughter Land
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Laughter Land (continued)
Year ended 31 March 2023
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
S O'Neill & Company Independent Examiner
14 Main Street Toomebridge Co. Antrim Northern Ireland BT41 3TQ
28 March 2024
7
Laughter Land
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | – | 50,743 | 50,743 | 59,656 |
| Charitable activities | 6 | 43,677 | – | 43,677 | 40,791 |
| Other trading activities | 7 | 6,434 | 5,876 | 12,310 | 5,171 |
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||
| Total income | 50,111 | 56,619 | 106,730 | 105,618 | |
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||
| Expenditure | |||||
| Expenditure on charitable activities | 8,9 | 56,914 | 49,216 | 106,130 | 115,404 |
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||
| Total expenditure | 56,914 | 49,216 | 106,130 | 115,404 | |
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||
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||
| Net income/(expenditure) | (6,803) | 7,403 | 600 | (9,786) | |
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||
| Transfers between funds | 7,315 | (7,315) | – | – | |
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||
| Net movement in funds | 512 | 88 | 600 | (9,786) | |
| Reconciliation of funds | |||||
| Total funds brought forward | 14,046 | – | 14,046 | 23,832 | |
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||
| Total funds carried forward | 14,558 | 88 | 14,646 | 14,046 | |
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 11 to 19 form part of these financial statements.
8
Laughter Land
Company Limited by Guarantee
Statement of Financial Position
31 March 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 16 | 1,570 | 1,996 |
| Current assets | |||
| Debtors | 17 | 879 | 2,196 |
| Cash at bank and in hand | 18,873 | 19,033 | |
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||
| 19,752 | 21,229 | ||
| Creditors: amounts falling due within one year | 18 | 6,676 | 9,179 |
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||
| Net current assets | 13,076 | 12,050 | |
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||
| Total assets less current liabilities | 14,646 | 14,046 | |
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||
| Net assets | 14,646 | 14,046 | |
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||
| Funds of the charity | |||
| Restricted funds | 88 | – | |
| Unrestricted funds | 14,558 | 14,046 | |
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||
| Total charity funds | 21 | 14,646════════ |
14,046════════ |
For the year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 28 March 2024, and are signed on behalf of the board by:
Mrs Roisin Higgins Director
Mrs Orla Diamond Director
The notes on pages 11 to 19 form part of these financial statements.
9
Laughter Land
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income/(expenditure) | 600 | (9,786) |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 426 | 562 |
| Government grant income | (43,991) | (51,066) |
| Interest payable and similar charges | 754 | 729 |
| Accrued (income)/expenses | (2,527) | 3,023 |
| Changes in: | ||
| Trade and other debtors | 1,315 | (1,209) |
| Trade and other creditors | 24 | (3,598) |
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|
| Cash generated from operations | (43,399) | (61,345) |
| Interest paid | (754) | (726) |
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|
| Net cash used in operating activities | (44,153) | (62,071) |
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|
| Cash flows from investing activities | ||
| Purchase of tangible assets | – | (186) |
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|
| Net cash used in investing activities | – | (186) |
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|
| Cash flows from financing activities | ||
| Government grant income | 43,991 | 51,066 |
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|
| Net cash from financing activities | 43,991 | 51,066 |
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|
| Net decrease in cash and cash equivalents | (162) | (11,191) |
| Cash and cash equivalents at beginning of year | 19,035 | 30,226 |
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|
| Cash and cash equivalents at end of year | 18,873 | 19,035 |
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The notes on pages 11 to 19 form part of these financial statements.
10
Laughter Land
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is The Unit, Black Park Road, Toomebridge, Co Antrim, BT41 3SL.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the Charity's ability to continue. Additional grant funding has been received during the 2024 financial year.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
11
Laughter Land
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
12
Laughter Land
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Fixtures and fittings | - | 20% straight line |
|---|---|---|
| Equipment | - | 33% straight line |
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
Laughter Land is a company limited by guarantee and accordingly does not have a share capital.
Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of it being wound up while he or she is a member, or within one year after he or she ceases to be a member.
13
Laughter Land
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Grants | |||
| Education Authority - Engage III | – | 5,616 | 5,616 |
| Childcare Partnership Regional Small Grants | – | – | – |
| Education Authority - Outdoor Learning Project | – | – | – |
| Education Authority - SEB payment | – | 436 | 436 |
| Education Authority - Getting Ready to Learn | – | 700 | 700 |
| HMRC Furlough Scheme | – | – | – |
| Early Years | – | – | – |
| HMRC Coronavirus Sick Pay Scheme | – | – | – |
| Education Authority - Pre-School Funded Places | – | 43,991 | 43,991 |
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|
| – | 50,743 | 50,743 | |
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|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Grants | |||
| Education Authority - Engage III | – | – | – |
| Childcare Partnership Regional Small Grants | – | 1,420 | 1,420 |
| Education Authority - Outdoor Learning Project | – | 1,000 | 1,000 |
| Education Authority - SEB payment | – | – | – |
| Education Authority - Getting Ready to Learn | – | 800 | 800 |
| HMRC Furlough Scheme | 231 | – | 231 |
| Early Years | 4,368 | – | 4,368 |
| HMRC Coronavirus Sick Pay Scheme | 771 | – | 771 |
| Education Authority - Pre-School Funded Places | – | 51,066 | 51,066 |
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|
| 5,370 | 54,286 | 59,656 | |
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6. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Day-care fee income | 20,519 | 20,519 | 9,230 | 9,230 |
| Afterschools and Summer Scheme fee | ||||
| income | 23,158 | 23,158 | 31,561 | 31,561 |
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|
| 43,677 | 43,677 | 40,791 | 40,791 | |
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14
Laughter Land
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
7. Other trading activities
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Fundraising activities | 6,434 | – | 6,434 |
| Bus Money Received | – | 5,876 | 5,876 |
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|
| 6,434 | 5,876 | 12,310 | |
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|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Fundraising activities | – | – | – |
| Bus Money Received | – | 5,171 | 5,171 |
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|
| – | 5,171 | 5,171 | |
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|
| Expenditure on charitable activities by fund type | |||
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Playgroup and Afterschool Club | 49,465 | 49,216 | 98,681 |
| Support costs | 7,449 | – | 7,449 |
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|
| 56,914 | 49,216 | 106,130 | |
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|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Playgroup and Afterschool Club | 61,160 | 46,491 | 107,651 |
| Support costs | 7,753 | – | 7,753 |
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|
| 68,913 | 46,491 | 115,404 | |
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8. Expenditure on charitable activities by fund type
9. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Total funds | Total fund | ||
| directly Support costs | 2023 | 2022 | ||
| £ | £ | £ | £ | |
| Playgroup and Afterschool Club | 98,681 | 668 | 99,349 | 109,146 |
| Governance costs | – | 6,781 | 6,781 | 6,258 |
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|
| 98,681 | 7,449 | 106,130 | 115,404 | |
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15
Laughter Land
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
10. Analysis of support costs
| Total 2023 | Total 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Staff costs | – | 400 | |
| Communications and IT | 242 | 321 | |
| General office | – | 214 | |
| Finance costs | 426 | 561 | |
| Governance costs | 6,781 | 6,257 | |
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| 7,449 | 7,753 | ||
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||
| 11. | Net income/(expenditure) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | 426 | 562 | |
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| 12. | Independent examination fees | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 3,600═══════ |
3,500═══════ |
13. Staff costs
| The total staff costs and employee benefits for the reporting period are analysed as | The total staff costs and employee benefits for the reporting period are analysed as | follows: |
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Wages and salaries | 75,587 | 80,061 |
| Employer contributions to pension plans | 816 | 1,020 |
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|
| 76,403 | 81,081 | |
════════ |
════════ |
| The average head count of employees during the year was Nil (2022: 8). The average | The average head count of employees during the year was Nil (2022: 8). The average | number of |
|---|---|---|
| full-time equivalent employees during the year is analysed as follows: | ||
| 2023 | 2022 | |
| No. | No. | |
| Group Leader | 1 | 1 |
| Childcare staff | 5 | 7 |
──── |
──── |
|
| 6 | 8 | |
════ |
════ |
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
16
Laughter Land
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
14. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
15. Transfers between funds
The following grants were received for restricted purposes and have been utilised against specific costs of the project undertaken by the charity.
However, there are a number of these grants that were to offset the running costs of the Charity.
As a result, these funds have been transferred to Unrestricted Funds from Restricted Funds to offset the running costs.
| 2023 | |
|---|---|
| £ | |
| Education Authority – Engage III | 2,330 |
| Education Authority - Pre-School Funded Places | 4,985 |
──────── |
|
| Total to be transferred between funds | 7,315 |
════════ |
16. Tangible fixed assets
| Fixtures and | ||||
|---|---|---|---|---|
| fittings | Equipment | Total | ||
| £ | £ | £ | ||
| Cost | ||||
| At 1 April 2022 and 31 March 2023 | 7,912 | 1,243 | 9,155 | |
═══════ |
═══════ |
═══════ |
||
| Depreciation | ||||
| At 1 April 2022 | 6,501 | 658 | 7,159 | |
| Charge for the year | 282 | 144 | 426 | |
─────── |
─────── |
─────── |
||
| At 31 March 2023 | 6,783 | 802 | 7,585 | |
═══════ |
═══════ |
═══════ |
||
| Carrying amount | ||||
| At 31 March 2023 | 1,129 | 441 | 1,570 | |
═══════ |
═══════ |
═══════ |
||
| At 31 March 2022 | 1,411 | 585 | 1,996 | |
═══════ |
═══════ |
═══════ |
||
| 17. | Debtors | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Trade debtors | 250 | 1,571 | ||
| Prepayments and accrued income | 629 | 625 | ||
──── |
─────── |
|||
| 879 | 2,196 | |||
════ |
═══════ |
17
Laughter Land
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
18. Creditors: amounts falling due within one year
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 298 | 373 |
| Accruals and deferred income | 5,928 | 8,455 |
| Social security and other taxes | 450 | 351 |
─────── |
─────── |
|
| 6,676 | 9,179 | |
═══════ |
═══════ |
19. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £816 (2022: £1,020).
20. Government grants
The amounts recognised in the financial statements for government grants are as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Recognised in income from donations and legacies: | ||
| Government grants income | 50,743 | 59,656 |
════════ |
════════ |
21. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | At | |||||
| 1 | April 2022 | Income | Expenditure | Transfers | 31 March 2023 | |
| £ | £ | £ | £ | £ | ||
| General funds | 14,046 | 50,111 | (56,914) | 7,315 | 14,558 | |
════════ |
════════ |
════════ |
════════ |
════════ |
||
| At | At | |||||
| 1 | April 2021 | Income | Expenditure | Transfers | 31 March 2022 |
|
| £ | £ | £ | £ | £ | ||
| General funds | 23,517 | 46,161 | (68,913) | 13,281 14,046 |
||
════════ |
════════ |
════════ |
════════ |
════════ |
18
Laughter Land
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
21. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 April 2022 | Income | Expenditure | Transfers 31 March 2023 |
||
| £ | £ | £ | £ | £ | |
| Restricted Fund 1 – | |||||
| Playgroup | – | 56,619 | (49,216) |
(7,315) | 88 |
════ |
════════ |
════════ |
═══════ |
════ |
|
| At | At | ||||
| 1 April 2021 | Income | Expenditure | Transfers 31 March 2022 |
||
| £ | £ | £ | £ | £ | |
| Restricted Fund 1 - | |||||
| Playgroup | 315 | 59,457 | (46,491) |
(13,281) | – |
════ |
════════ |
════════ |
════════ |
════ |
|
| Analysis of net assets between funds | |||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Tangible fixed assets | 1,570 | – | 1,570 | ||
| Current assets | 19,664 | 88 | 19,752 | ||
| Creditors less than 1 year | (6,676) | – | (6,676) | ||
──────── |
──── |
──────── |
|||
| Net assets | 14,558 | 88 | 14,646 | ||
════════ |
════ |
════════ |
|||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Tangible fixed assets | 1,996 | – | 1,996 | ||
| Current assets | 21,229 | – | 21,229 | ||
| Creditors less than 1 year | (9,179) | – | (9,179) | ||
──────── |
──── |
──────── |
|||
| Net assets | 14,046 | – | 14,046 | ||
════════ |
════ |
════════ |
|||
| Analysis of changes in net debt | |||||
| At | |||||
| At 1 Apr 2022 | Cash flows | 31 Mar 2023 | |||
| £ | £ | £ | |||
| Cash at bank and in hand | 19,035 | (162) | 18,873 |
||
════════ |
════ |
════════ |
22. Analysis of net assets between funds
23. Analysis of changes in net debt
19
Laughter Land
Company Limited by Guarantee
Management Information
Year ended 31 March 2023
The following pages do not form part of the financial statements.
20
Laughter Land
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Education Authority - Engage III | 5,616 | – |
| Childcare Partnership Regional Small Grants | – | 1,420 |
| Education Authority - Outdoor Learning Project | – | 1,000 |
| Education Authority - SEB payment | 436 | – |
| Education Authority - Getting Ready to Learn | 700 | 800 |
| HMRC Furlough Scheme | – | 231 |
| Early Years | – | 4,368 |
| HMRC Coronavirus Sick Pay Scheme | – | 771 |
| Education Authority - Pre-School Funded Places | 43,991 | 51,066 |
──────── |
──────── |
|
| 50,743 | 59,656 | |
──────── |
──────── |
|
| Charitable activities | ||
| Day-care fee income | 20,519 | 9,230 |
| Afterschools and Summer Scheme fee income | 23,158 | 31,561 |
──────── |
──────── |
|
| 43,677 | 40,791 | |
──────── |
──────── |
|
| Other trading activities | ||
| Fundraising activities | 6,434 | – |
| Bus Money Received | 5,876 | 5,171 |
──────── |
─────── |
|
| 12,310 | 5,171 | |
──────── |
─────── |
|
───────── |
───────── |
|
| Total income | 106,730 | 105,618 |
═════════ |
═════════ |
21
Laughter Land
Company Limited by Guarantee
Detailed Statement of Financial Activities (continued)
Year ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Expenditure | ||
| Expenditure on charitable activities | ||
| Food Purchases | 3,077 | 3,998 |
| Wages - Playschool | 42,287 | 38,397 |
| Pension costs | 816 | 1,020 |
| Wages – Afterschool Club | 33,300 | 41,664 |
| Rent | 1,200 | 1,200 |
| Light and heat | 1,908 | 2,509 |
| Property maintenance | 1,181 | 2,821 |
| Insurance | 840 | 772 |
| Cleaning and hygiene costs | 270 | 379 |
| Travel expenses | 93 | – |
| Transport and Trips | 6,495 | 5,171 |
| Accountancy | 3,600 | 3,500 |
| Other professional fees | 2,415 | 2,019 |
| Professional fees | 1,413 | 1,797 |
| Telephone | 753 | 530 |
| Other office costs | 252 | 365 |
| Depreciation | 426 | 561 |
| Other interest payable and similar charges | 754 | 739 |
| Play and learning resources | 1,600 | 7,542 |
| Staff training | 2,195 | 400 |
| General expenses | 671 | 20 |
| Saint Patrick's Day Disco expenses | 584 | – |
───────── |
───────── |
|
| 106,130 | 115,404 | |
───────── |
───────── |
|
───────── |
───────── |
|
| Total expenditure | 106,130 | 115,404 |
═════════ |
═════════ |
|
───────── |
───────── |
|
| Net income/(expenditure) | 600 | (9,786) |
═════════ |
═════════ |
22
Laughter Land
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Expenditure on charitable activities | ||
| Playgroup and Afterschools Club | ||
| Activities undertaken directly | ||
| Food | 3,077 | 3,998 |
| Wages – Playschool | 42,287 | 38,397 |
| Pension Costs | 816 | 1,020 |
| Wages - Afterschools | 33,300 | 41,664 |
| Rent | 1,200 | 1,200 |
| Light and heat | 1,908 | 2,509 |
| Property maintenance | 1,181 | 2,821 |
| Insurance | 840 | 772 |
| Cleaning and hygiene costs | 270 | 379 |
| Travel expenses | 93 | – |
| Transport and trips | 6,495 | 5,171 |
| Professional fees | 1,413 | 1,797 |
| Telephone | 511 | 210 |
| Other office costs | 252 | 151 |
| Play and Learning Resources | 1,600 | 7,542 |
| Staff training | 2,195 | – |
| General expenses | 659 | 20 |
| Saint Patrick's Day Disco expenses | 584 | – |
──────── |
───────── |
|
| 98,681 | 107,651 | |
──────── |
───────── |
|
| Support costs | ||
| Telephone | 242 | 320 |
| Office costs | – | 214 |
| Depreciation | 426 | 561 |
| Staff training | – | 400 |
──── |
─────── |
|
| 668 | 1,495 | |
──── |
─────── |
|
| Governance costs | ||
| Accountancy fees | 3,600 | 3,500 |
| Other professional fees | 2,415 | 2,019 |
| Bank charges | 754 | 729 |
| PAYE interest | 12 | 10 |
─────── |
─────── |
|
| 6,781 | 6,258 | |
─────── |
─────── |
|
───────── |
───────── |
|
| Expenditure on charitable activities | 106,130 | 115,404 |
═════════ |
═════════ |
23