COMPANY REGISTRATION NUMBER: NI678805 CHARITY REGISTRATION NUMBER: NIC108434
Puddleducks Playgroup Ltd Company Limited by Guarantee Unaudited Financial Statements
30 April 2023
SP McCAFFREY & CO
Chartered accountants 50 Campsie Road Omagh Co Tyrone BT79 0AG
Puddleducks Playgroup Ltd
Company Limited by Guarantee
Financial Statements
Period ended 30 April 2023
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Statement of financial activities (including income and | |
| expenditure account) | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 14 |
| Notes to the detailed statement of financial activities | 15 |
Puddleducks Playgroup Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Period ended 30 April 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 10month period 1 July 2022 to 30 April 2023.
Reference and administrative details
Registered charity name Puddleducks Playgroup Ltd Charity registration number NIC108434 Company registration number NI678805 Principal office and registered 15 Drudgeon Road office Clannabogan Omagh Co Tyrone BT78 1TJ Committee Members Mrs P Colton (Chair Person) Mr A Duncan (Secretary) Mr R Mowlam (Treasurer) Mrs M McClean Mrs D Barrett Mrs S Cassidy Mrs E Meenagh Accountants SP McCaffrey & Co Chartered accountants 50 Campsie Road Omagh Co Tyrone BT79 0AG
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Puddleducks Playgroup Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Period ended 30 April 2023
Structure, governance and management
Puddleducks Playgroup Ltd is registered with the Charity Commission for Northern Ireland.
The Board communicate widely the vision, ethos and strategic direction of Puddleducks Playgroup Ltd and ensure strong links with the parents and local community. The committee ensure the Charity’s financial and human resources are deployed effectively and in the interest of the children.
Objectives and activities
Principal activity
The purpose of Puddleducks Playgroup Ltd is to enhance the education and development of pre-school children through Steiner-Waldorf education and to encourage parents and guardians to understand and provide for the needs of their children in Omagh and its surrounding areas.
Achievements and performance
The charity continued to operate successfully throughout the period and meet the objectives that it was set up to achieve as listed above.
Financial review
Review of the Business
The charity is non-profit making with a net deficit of £1,527 for the period. The management continues to be engaged in ongoing efficiency savings and is aware of the sustainable use of resources.
Reserves Policy
A policy on reserves for Puddleducks Playgroup Ltd was agreed at the committee held previously. Puddleducks Ltd has set a reserves policy which requires reserves to be maintained at level of £17,000 which ensures that: (see continued)
The core activity of Puddleducks Playgroup Ltd could continue during a period of unforeseen difficulty.
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The setting could meet its liabilities in the event that it had to close or reduce its services for example meet redundancy costs.
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A proportion of (+80%) of these reserves have to be maintained in a readily realisable form e.g. cash at bank.
The calculation of the required level of reserves is an integral part of the planning budget and forecast cycle of our setting. If the setting does not currently have the level of reserve that it identifies as required it will work towards meeting it and make this a priority in financial planning.
2
Puddleducks Playgroup Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Period ended 30 April 2023
Yearly Report
From the 22 registered places, 17 preschool children attended playgroup on a full-time basis while the remaining 6 places were shared between younger children, all of whom have re-joined as full-time preschool children in the current group (2023/2024). Operating with a reduced number of full-time places reduced our income for this period.
Some strategic and organisational changes occurred during the last year. We registered as a charity and are now a Limited Company (LTD).
With some fantastic help from parents and friends, and generous financial support from DAERA through its LHLH School Pollinator Grant and the Childcare Partnership Regional Small Grants, we developed a pollinator and sensory garden. It is a wonderful addition to our outdoor facilities. We celebrated the developments with 3 very successful and well attended family gardening days.
Our ‘Getting Ready to Learn’ library, which supports the working partnership between Playgroup and our families, was further developed and extended.
In the period governed by this Report, Puddleducks’ festivals started with our Harvest Garden Saturday, followed by Lantern making and the Lantern walk in November. Next on our calendar was our Christmas Nativity. The New Year festivities began with the pancake race in March followed by our Easter-Walk and family picnic.
In terms of our ongoing Staff development and training, we would like to congratulate our newest staff member on the completion of her Child Care Training and wish her good luck with her forthcoming training in special education needs.
For the coming year we anticipate a slowing down of available grants and look forward to new ideas of fun and fundraising.
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Perhaps we can take part in the planned Camphill Open-day
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We currently have 21 preschool children in our group for 2023/2024.
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A few major changes are in the making and through new impulses of the 2023 AGM could be driven forward and come to completion e.g. one emphasis may be in the realm of human resources and staffing. We have engaged the services of a HR company to support us in this matter.
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Puddleducks Playgroup Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Period ended 30 April 2023
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 .............................. and signed on behalf of the board of trustees by:
Mrs P Colton Trustee
Mr A Duncan Trustee
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Puddleducks Playgroup Ltd
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Period ended 30 April 2023
| 2023 | |||
|---|---|---|---|
| Unrestricted | |||
| fundsTotal funds | |||
| Note | £ | £ | |
| Income and endowments | |||
| Donations and legacies | 4 | 39,618 | 39,618 |
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| Total income | 39,618 | 39,618 | |
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| Expenditure | |||
| Expenditure on charitable activities | 5,6 | 41,145 | 41,145 |
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| Total expenditure | 41,145 | 41,145 | |
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| Net expenditure and net movement in funds | (1,527) | (1,527) | |
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| Reconciliation of funds | |||
| Total funds brought forward | – | – | |
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| Total funds carried forward | (1,527) | (1,527) | |
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The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.
The notes on pages 6 to 12 form part of these financial statements.
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Puddleducks Playgroup Ltd
Company Limited by Guarantee
Statement of Financial Position
30 April 2023
| 2023 | ||
|---|---|---|
| Note | £ | |
| Fixed assets | ||
| Tangible fixed assets | 10 | 15,827 |
| Current assets | ||
| Debtors | 11 | 3,414 |
| Cash at bank and in hand | 65,002 | |
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| 68,416 | ||
| Creditors: amounts falling due within one year | 12 | 6,514 |
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| Net current assets | 61,902 | |
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| Total assets less current liabilities | 77,729 | |
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| Net assets | 77,729 | |
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| Funds of the charity | ||
| Unrestricted funds | 77,729 | |
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| Total charity funds | 15 | 77,729 |
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For the period ending 30 April 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period 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 ........................, and are signed on behalf of the board by:
Mrs P Colton Trustee
The notes on pages 6 to 12 form part of these financial statements.
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Puddleducks Playgroup Ltd
Company Limited by Guarantee
Notes to the Financial Statements
Period ended 30 April 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 15 Drudgeon Road, Clannabogan, Omagh, Co Tyrone, BT78 1TJ.
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.
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.
6
Puddleducks Playgroup Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period ended 30 April 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.
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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.
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Puddleducks Playgroup Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period ended 30 April 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:
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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.
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 receivable 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.
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Puddleducks Playgroup Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period ended 30 April 2023
3. Accounting policies (continued)
Financial instruments (continued)
Where investments in shares are publicly traded or their fair value can otherwise 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 subsequently 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 impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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.
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Puddleducks Playgroup Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period ended 30 April 2023
4. Donations and legacies
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2023 | |
| £ | £ | |
| Donations | ||
| Education Authority | 30,205 | 30,205 |
| Parent Contributions | 7,138 | 7,138 |
| Camphill Community | 275 | 275 |
| DOH | 2,000 | 2,000 |
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| 39,618 | 39,618 | |
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5. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2023 | |
| £ | £ | |
| Main Activity | 41,145 | 41,145 |
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| Expenditure on charitable activities by activity type | ||
| Activities | ||
| undertaken | Total funds | |
| directly | 2023 | |
| £ | £ | |
| Main Activity | 41,145════════ |
41,145════════ |
6. Expenditure on charitable activities by activity type
7. Net expenditure
Net expenditure is stated after charging/(crediting):
| 2023 | |
|---|---|
| £ | |
| Depreciation of tangible fixed assets | 1,759 |
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8. Staff costs
The average head count of employees during the period was 3. The average number of full-time equivalent employees during the period is analysed as follows:
| 2023 | |
|---|---|
| No. | |
| Number of Staff | 3 |
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No employee received employee benefits of more than £60,000 during the year (2022: Nil).
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Puddleducks Playgroup Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period ended 30 April 2023
9. Trustee remuneration and expenses
10. Tangible fixed assets
| Equipment | |
|---|---|
| £ | |
| Cost | |
| At 1 May 2022 | 3,653 |
| Additions | 13,933 |
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| At 30 April 2023 | 17,586 |
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|
| Depreciation | |
| At 1 May 2022 | – |
| Charge for the period | 1,759 |
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| At 30 April 2023 | 1,759 |
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|
| Carrying amount | |
| At 30 April 2023 | 15,827 |
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|
| Debtors | |
| 2023 | |
| £ | |
| Trade debtors | 3,414 |
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|
| Creditors: amounts falling due within one year | |
| 2023 | |
| £ | |
| Trade creditors | 750 |
| Accruals and deferred income | 5,463 |
| Social security and other taxes | 301 |
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|
| 6,514 | |
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|
| Deferred income | |
| 2023 | |
| £ | |
| At 1 May 2022 | 5,463 |
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11. Debtors
12. Creditors: amounts falling due within one year
13. Deferred income
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Puddleducks Playgroup Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period ended 30 April 2023
14. 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 £1,676.
15. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||||
|---|---|---|---|---|---|---|---|---|
| At | Transfer | At | ||||||
| 1 | May | 2022 | Income | Expenditure | Puddleducks | 30 |
April 2023 | |
| £ | £ | £ | £ | £ | ||||
| General funds | – | 39,618 | (41,145) | 79,256 | 77,729 | |||
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Puddleducks Playgroup Ltd
Company Limited by Guarantee
Management Information
Period ended 30 April 2023
The following pages do not form part of the financial statements.
13
Puddleducks Playgroup Ltd
Company Limited by Guarantee
Detailed Statement of Financial Activities
Period ended 30 April 2023
| 2023 | |
|---|---|
| £ | |
| Income and endowments | |
| Donations and legacies | |
| Education Authority | 30,205 |
| Parent Contributions | 7,138 |
| Camphill Community | 275 |
| DOH | 2,000 |
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|
| 39,618 | |
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|
| Total income | 39,618 |
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| Total expenditure | 41,145 |
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| Net expenditure | (1,527) |
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Puddleducks Playgroup Ltd
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Period ended 30 April 2023
| 2023 | |
|---|---|
| £ | |
| Expenditure on charitable activities | |
| Activity type 1 | |
| Activities undertaken directly | |
| Direct charitable activity 1 - wages/salaries | 29,273 |
| Direct charitable activity 1 - pension costs | 1,676 |
| Direct charitable activity 1 - light & heat | 3,659 |
| Direct charitable activity 1 - repairs & maintenance | 775 |
| Direct charitable activity 1 - insurance | 513 |
| Direct charitable activity 1 - Accountancy | 1,380 |
| Direct charitable activity 1 - Subscription | 725 |
| Direct charitable activity 1 - amortisation | (1,365) |
| Direct charitable activity 1 - depreciation | 1,759 |
| Direct charitable activity 1 - Early Years | 1,367 |
| Direct charitable activity 1 - Education Accessories | 1,194 |
| Direct charitable activity 1 - Bank Interest & Fees | 32 |
| Direct charitable activity 1 - Food | 157 |
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| 41,145 | |
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| Expenditure on charitable activities | 41,145 |
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