COMPANY REGISTRATION NUMBER: N1603898
CHARITY REGISTRATION NUMBER: 105710
Happy Days Community Childcare Centre
Company Limited by Guarantee
Financial Statements
31 March 2024
AUBREY CAMPBELL & COMPANY
Chartered Accountants & statutory auditor
631 Lisburn Road
Belfast
BT9 7GT

Happy Days Community Childcare Centre
Company Limited by Guarantee
ststement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
Restricted
funds Total funds Total funds
2023
Unrestricted
funds
Nots
Income and endowments
Donations and legacies
Covid Recovery Grants
Investment income
685,271
3,077
664,925
3,660
78
411
411
Total income
685,682
3.077
688.759
668,663
Expenditure
Expenditure on charitable activities
Total expenditure
731.385
3.823
735,208
675,652
731.385
3.823
735,208
675,652
Net expendlture and net movement in
funds
(45,703)
(746)
{46,449)
(6,989)
Reconclllatlon of funds
Total funds brought forward
Total funds carried forward
30.713
2,638
33,351
40,340
(14,990)
1.892
113,098)
33,351
The statement of financial activrties includes all gains and losses recognised in the year.
Ail income and expendrture derive from continuing activities.
The notss on pages 17 to 28 fomi part of ttwse financial slatements.
14-

Happy Days Community Childcare Centre
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Nole
Fixed assets
Tangible fixed assets
14
7,823
9,736
Currant assets
Debtors
Cash at bank and in hand
15
2,693
34,007
3,809
75,825
36,700
79,634
Creditors: amounts falling due within one year
Net current liabilltles
16
57,621
51,919
(20,921)
(13,098)
27,715
Total assets less current liabilities
37,451
Creditors: amounts falling due after more than
one year
17
4,100
Net liabilities
(13,098)
33,351
Funds of the charlty
Restricted funds
Unrestricted funds
1,892
(14,990)
(13,098)
2,638
30,713
Total charlty funds
20
33,351
These financial statements were approved by the board of trustees and authorised for issue on 16
December 2024, and are signed on behalf of the board by..
Pastor J Payne
Trustee
Mrs H Kyle
Trustee
The notes on pages 17 to 28 form part of these flnancial statements.
15-

Happy Days Community Childcare Centre
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2024
2024
2023
Cash flows from operating activities
Net expenditure
(46,449)
(6,989)
Adjustments for
Depreciation of tangible fixed assets
Other interest receivable and similar income
Accrued expenses
Covid recovery grants
2,915
(411)
4,244
3,191
(78)
88
(3,660)
Changes in..
Trade and other debtors
Trade and other creditors
1,074
(2,600)
(41,227)
(304)
(2,881)
(10,633)
Cash generated from operations
Interest received
411
78
Net cash used in operating activities
140,816)
{10,555)
Cash flows from investing activities
Purchase of tangible assets
Net cash used in investing activrties
11,002)
(1,0021
(2,650)
{2,650)
Cash flows from financing actlvlties
Covid recovery Grants
Net cash from financing activities
3,660
3,660
Net decrease in cash and cash equivalents
Cash and cash equivalents at beglnning of year
Cash and cash equivalents at end of year
141,818)
75,825
(9,545)
85,370
34,007
75,825
The notss on pages 17 to 28 fomi part of these financial statements.
16-

Happy Days Community Childcare Centre
Company Limited by Guarantee
Notes to the Flnancial Ststements
Year ended 31 March 2024
General Information
The charity is a public benefit entity and a private company limited by guarantee, registered in N
Ireland and a registered charty in Northem Ireland. The address of the registered office is 14
Garryduff Road, Ballymoney. BT53 7AF.
Statement of compllance
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 wrth the
Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (Charities
SORP IFRS 102)) and the Companies Act 2006.
Accounting policies
Basis of preparatlon
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.
17-

Happy Days Community Childcare Centre
Company Limited by Guarantee
Notes to the Financial Statements (￿ntInued)
Year ended 31 March 2024
Accounting policles (¢ontinuedJ
Going concem
In discussing the going concem ststus of the company in the short to medium term, the Trustees
are satisfied that there continues to be a demand for high quality childcare in the local area, and
that Happy Days Community Childcare Centre has successfully maintained its market share.
Across the sector. however, childcare is experiencing a crisis, fueled in the main by continued
annual increases in National Living and National Minimum Wage rates. The Trustees
acknowledge the inevitable effect Ihe resultant increase in overall costs has had in recent years,
and conduct an annual review of fees to introduce increases accordingly. These increases have
invariably had a detrimental impact on numbers at the facility, as more and more parents rely on
family members to provide at least 'some' childcare to bridge the gap thereby bypass the fee
increase as far as possible.
The Trustees acknowledge the impact of the financial results to 31 March 2024 on the overall
financial position of the facility and acknowledge that a material uncertainty with regard to the
going concern status of Happy Days exists. They are cognisant of their responsibility to react
swiftly and decisively to safeguard all stakeholders.
Accordingly, the Trustees have decided to perforn a comprehensive 'root and branch, evaluation
of the current service provision at Happy Days, and of the manner in which these seNices are
organised and delivered. The process will aim to identify potential weaknesses in the current
business model, with recommendations made where changes are required. The evaluation will
run alongside a cost benefit analysis to ensure that efficiencies and potential tangible
impfovements and opportunities are harnessed and acted upon appropriately.
Specifically, for instance, with regard to the Playgroup, Happy Days has continued to lobby the
Education Authority to have this area of the business included in the Pre School-Education
Programme, which provides funded places. So far, these efforts have nol succeeded
decrease in the birth rate suggests that capacity amongst existing funded providers is adequate.
However, Early Learning and Childcare measures have recently been introduced in the area, one
of which sees funded provision extending to to 22.5 hours per week - this this may create a need
for additional provision. Dependent on the success of these lobbying efforts, the Trustees will
consider whether it is prudent to continue self-funding the Playgroup in the interim.
Generally. the Trustees are aware of the need to seek professional guidance to assist in an
assessment of the overall structure and viability of Happy Days in a timely manner should this
become necessary. The Trustees are most grateful to have the ongoing support of Ballymoney
Church of God, who continue to appreciate the immense contribution thal Happy Days makes on
a daily basis within our communty.
In summary. the Trustees are committed to business transformation in order to secure the future
sustainability of Happy Days. They are mindful, however, that should income fall or expenditure
increase peNasively. the going concern basis of preparation may become invalid. The financial
statements have been prepared on a going concem basis, the validity of which depends on the
operational success of the charity and ongoing support from the third parties alluded to above. In
doing so, it has been assumed that the company will be able to continue in operational existence
for the foreseeable future and to meet its liabilities as they fall due. The financial stalements do
not include any adjustments that would result from un-maintainable losses or the withdrawal of
this support. In such circumstances, the going concem basis of preparation may become invalid,
and adjustments would have to be made to reduce the value of assets to their recoverable
amount lo to provide for any further liabilities which might arise, and to reclassify fixed assets as
current assets.
18-

Happy Days Community Childcare Centre
Company Limited by Guarantee
Notes to the Financial Statements f¢onUnued)
Year ended 31 March 2024
Accounting policies (contlnuedj
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 thal are believed to be reasonable under the circumstances.
Fund accountlng
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 eamiarked 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 tems of an appeal, and fall into one of two sub<lasses- restricted income funds or
endowment funds.
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..
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.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured al the fair value of the goods unless this is
impractical to measure reliably. in which case the value is derived from Ihe cost lo the donor
or the estimated resale value. Donated facilities and seNices 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 classrfied 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.
19-

Happy Days Community Childcare Centre
Company Limited by Guarantee
Notes to the Financial Statements (contlftued)
Year ended 31 March 2024
Accounting policles (continu
Resources expended
Expendbture is recognised on an accruals basis as a liabilty is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the statement of
financial activf(ies to which it relates..
expenditure on raising funds includes the costs of all fundraising actNities, events,
non-charitable trading activities, and the sale of donated goods.
expenditure on Char[tab￿ activities includes all costs incurred by a charty in undertaking
activities that further its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating to the governan￿ of the charty apportioned to charitable
activities.
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 categones reflecting the use of the resource. Direct costs
attribL5table to a single activty are allocated directly to that actwty. Shared costs are apportioned
between the activrties they contribute to on a reasonable. justifiable and consistent basis.
Tangible assets
Tangible assets are inrtialty 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 impaim)ent losses.
An increase in the carying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses, unless rt reverses a charge for impaimient that has previously been
recognised as expenditure within the ststement 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 p￿viouS revaluation gain, in which case the loss is shown within
other recognised gains and losses on the statement of financial adivities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual
value, over the useful economic lrfe of that asset as foll¢Y4VS:
Motor Vehicles
Equipment
25Dkn reducing balance
200fi straight line
Impaimient of fixed assets
A review for indicators of impaim)ent is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. ￿￿ere the carrying value exceeds the
recoverable amount. the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.

Happy Days Community Childcare Centre
Company Limited by Guarantee
Notes to the Financial Statements (¢ontlnuedJ
Year ended 31 March 2024
Accounting pollcles (continued)
Impairment of fixed assets (continued)
For the purposes of impairment testing, when it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverable amount of the
cash-generating unit to which the asset belongs. The cash-generating unit is the smallest
identifiable group of assets that includes the asset and generates cash inflows that largely
independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the
acquisition date, allocated to each of the cash-generating units that are expected to benefit from
the synergies of the combination, irrespective of whether other assets or liabilities of the charity
are assigned to those units.
Short term employee benefits
The company provides short temi benefrts including holiday pay to their employees. These are
recognised as an expense in the period in which the service is received.
Financial Instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount re￿1vable or payable including
any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can othenwise be measured
reliably, the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at
cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless
payment for an asset is deferred beyond normal business terms or financed at a rate of interest
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequentty measured at fair value, with any changes
recognised in the statement of financial activities, with the exception of hedging instruments in a
designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence
of impairment at the end of each reporting date. If there is objective evidence of impainnent, an
impaiment loss is recognised undef the appropriate heading in the statement of financial
activities in which the initial gain was recognised.
21

Happy Days Community Childcare Centre
Company Limited by Guarantee
Notes to the Financial Statements (¢onthued)
Year ended 31 March 2024
Accounting policies (ujntlnued)
Financlal Instruments (continu
For all equty instruments regardless of signtficance, and other financial assets that are
individually significant. these are assessed individually for impaiment. Other financial assets are
either assessed individually or grouped on the basis of similar credrt risk characteristics.
Any reversals of impaimient are recognised immediately, to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds what the carying amount would
have been had the impaiment not previously been recognised.
Defined contributlon 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 reduCt￿n in future payments or a cash refund.
Tr￿en 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 liabilty is measured on
discounted present value basis. The unwinding of the discount is recognised as an expense in
the period in which it arises.
Limited by guarantee
The company is limited by guarantee, has no share capital and is recognised as a Charty by HM
Revenue and Customs. The liabilty of members of the company is limrted to £1 per member.
Donations and legacies
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Donations
Fees
Milk scheme
Fundraising for Macmillan Cancer Support
Fundraising for Children in Need
Fundraising for Sandefford School
Fundraising for Nl Children's Hospice
Commissions from Tempest Photcgraphy
683,369
1.734
683,369
1,734
398
226
135
158
168
398
226
135
158
168
Grants
H&SCB Grant
2.160
2,160
685,271
3,077
688,348

Happy Days Community Childcare Centre
Company Limited by Guarantee
Notes to the Financial Statements (¢ontlnuerfJ
Year ended 31 March 2024
Donations and legacles (Continued)
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Donations
Fees
Milk scheme
Fundraising for Macmillan Cancer Support
Fundraising for Children in Need
Fundraising for Sandelford School
Fundraising for Nl Children's Hospice
Commissions from Tempest Photography
656,455
1,979
656.455
1,979
370
370
Grants
H&SCB Grant
6,121
6,121
658,434
6,491
684,925
Covid recovery grants
Unrestricted Totsl Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Early years - Childcare recovery fund
3,660
3,660
Investment Income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Bank interest receivable
411
411
78
78
Expenditure on charitable activities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Childcare provision
Support costs
728.385
3,000
3,823
732,208
3,000
731,385
3,823
735,208
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Childcare provision
Support costs
667,415
3,000
5,237
672,652
3,000
670,415
5,237
675,652
-23-

Happy Days Community Childcare Centre
Company Limited by Guarantee
Notes to the Financial Ststements (contlnued)
Year ended 31 March 2024
Expenditure on charltable activities by actlvity type
Activities
undertaken
directly Support costs
Total funds
2024
Total fund
2023
Childcare provision
Govemance costs
732,208
732,208
3,000
672,652
3,000
3,000
732,208
3,000
735,208
675,652
10. Net expenditure
Net expenditure is stated after chargingl(crediting)'.
2024
2023
Depreciation of tangible fixed assets
2,915
3,191
11. Auditors remuneration
2024
2023
Fees payable for the audit of the financial statements
3,000
3,000
Fees payable to the charity's auditor and its associates for other services:
Other non-audit services
4,030
4,752
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows..
2024
2023
Wages and salaries
Employer contributions to pension plans
600,657
15,924
545,330
12,466
616,581
557,796
The average head count of employees during the year was 37 (2023: 37). The average number
of full-time equivalent employees during the year is analysed as follows:
2024
2023
Number of management staff
Number of nursery staff
35
35
37
37
No employee received employee benefits of more than £60,000 during the year (2023.. Nil).
-24-

Happy Days Community Childcare Centre
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
13. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity were received by any of the
trustees.
14. Tangible flxed assets
Motor
vehicles
Equipment
Total
Cost
At 1 April 2023
Additions
15,300
15,237
1,002
30,537
1,002
At 31 March 2024
15,300
16,239
31,539
Depreciation
Al 1 April 2023
Charge for the year
At 31 March 2024
10,459
1,210
10.342
1,705
20,801
2,915
11,669
12.047
23,716
Carrying amount
At 31 March 2024
3.631
4,192
7.823
At 31 March 2023
4,841
4,895
9,736
15. Debtors
2024
2023
Trade debtors
Prepayments and accrued income
1,820
873
2,361
1,448
2,693
3,809
16. Credltors: amounts falling due wlthln one year
2024
2023
Accruals and deferred income
Social security and other taxes
Pension creditor
Other creditors
48,218
6,382
3,021
42,923
5,783
2,613
600
57,621
51,919
17. Credltors: amounts falling due after more than one year
2024
2023
Other creditors
4,100
-25-

Happy Days Community Childcare Centre
Company Limited by Guarantee
Notes to the Financial Ststements (¢¢>ntlnuod)
Year ended 31 March 2024
18. Deferred income
2024
2023
Amount deferred in year
15,779
14,686
In the current year the charity has deferred income of £15,779(2023.' £14,686). This relates to
invoices raised in the current year for childcare provision post year end.
19. Pensions and other post retir8ment benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined
contribution plans was £15.924 (2023: £12,466).
20. Analysis of charltsble funds
Unrestricted funds
At
31 March 202
At
1 April 2023
Income Expenditure
General funds
30,713
685,682
(731,385)
(14,990)
At
31 March 202
At
1 April 2022
Income Expenditure
General funds
38,956
662,172
(670,415)
30,713
Restricted funds
At
31 March 202
At
1 April 2023
Income Expenditure
Restricted Fund - Happy Days
Community Childcare
2,638
3,077
(3,8231
1,892
At
31 March 202
At
1 April 2022
Income Expenditure
Restricted Fund - Happy Days
Community Childcare
1,384
6,491
(5,237)
2,638
-26-

Happy Days Community Childcare Centre
Company Limited by Guarantee
Notes to the Financial Statements {continuedJ
Year ended 31 March 2024
21. Analysis of net assets between funds
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net liabilities
5,931
36,700
{57,621)
1,892
7,823
36,700
(57,621)
(14,990)
1,892
(13,098)
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Tangible fixed assels
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net liabilities
7,098
79,634
(51,919)
(4,100)
30,713
2,638
9.736
79.634
{51,919)
(4,100)
33,351
2,638
22. Limltatlon of auditorfs liability
The company has entered into a liability limitation agreement with its auditor, Aubrey Campbell
and Company, on the following basis..
(al the maximum aggregate amount of the auditorfs liability to the company shall not exceed the
sum of five times the fees payable (excluding expenses and value added tax) under the
engagement letter agreed for the financial period, or £30,000. whichever is the lesser amounl.
(b) the agreement was passed by a resolution of the company's trustees on 2nd December 2024.
23. Financlal instruments
Where reduced disclosures are applied, disclosures from the Companies Act 2006 still need to
be made regarding the fair value of the instruments in each category and the changes in value
recognised in profit and loss. Disclosures of the significant assumptions underlying the valuation
models and techniques used, and extent and nature of derivative instruments are also required.
24. Analysis of changes in net debt
At
At 1 Apr 2023 Cash flows 31 Mar 2024
Cash at bank and in hand
75.825
(41,818)
34,007
-27-

Happy Days Community Childcare Centre
Company Limited by Guarantee
Notes to the Financial Ststements (continuedj
Year ended 31 March 2024
25. Related parties
During the year. Happy Days Community Childcare Centre paid £37,700 (2023.. £38,400) to the
Church of God at Ballymoney. This was by way of a long established Service Level Agreement.
At the year end. Happy Days Community Childcare Centre owed the Church of God at
Ballymoney £nil {2023'. £4,700). This related to a car loan that the charity loaned from the church
that was written off at the year end. The amount written off is £4,150.
-28-