CLYDE COTTAGE DAY NURSERY REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charity Number: SC010470 CL YDE COTT AGE DA Y NURSfi RY FINANCIAL STATEMENTS FOR THE YEAR E4 NDED 31 MARCH 2024 CONTENTS PAGE Legal t*Administralive infoimalion Trustees, Report Fnd¢p¢ndent Examiner's Report Slalemcnt of Financial Activities Balance Sheet Notes to the Financial Statements 9-12 CLYDE COTTAGE DAY ¥URSF,RY LEGAL AND ADMINISTRATIVE IPIFORMATION Charity Name: Llydc Lottlkge Dlly Nur8eiy Pritteipal Office Addre8$: St Mu]L4 Stihool Pilot Strcet PA23 8DB Charity Registr#tioll Number: SC010470 'I'rustees: (elected annually at the ACIM) Indei)eJident F.xxininers: Ilendcrson & Company 160 Argyll Slreel Dunoon PA23 7NA Bankerg: Bank of S￿tland 78 knEyII Street Dunoon PA23 7NH CL YDE COTTAGI DA Y NURSEI RY REPORT OF THE TRUSTEES FOR THE YEAR ENDEI D 31 MARCH 2024 The trustees pi'esent th¢ir report with the finaiicial 5tateincnls of the ohai'ity foi. the year ended 31 Mc11'ch 2024. The triisteBs have adopted the provfSions af Aeeounting and Repr)rting by Charities.. Statement of Rccominended Practice applicable to chai'Eli￿ preparing their accounts in accordance with tl)e Fii)an¢ial Reporting Staiidard applicable in the UK and Republic of Ireland {FRS 102) (efr￿tIv¢ I Janiiary 2019). Objectives and aims The main activities of the charity are the advancement of education by means of the provision of a quality Day Nurseiy seivicc. Thi5 in turn should lead to the relief of those in need by reason of age, ill- healtli, disability, financial hardship or oth¢r disadvantsge. W¢ arc actively working towai'ds irducing inwualily and closing th¢ attainment gap by incieasing attainment in l&teracy and numcracy, and improving outcoines for childT¢n and r-amilies, ensuiing they have the tools and suppoit to liv¢ their best live5- r¢du¢Éng poverty, ill health and inequalTIy. Signifit¥nt 8Ctivities Apart from the ongoing provision of the Day Nu￿ery, the following are some of th¢ m&in achievements of th¢ charity during the financial yeki. now reported on.. Book bug sessions Follow up Car¢ In8￿Cto￿te inspection over two days. Very positive eX￿rIence with a¢hi¢v¢d grades of 4 across all areas inspect¢d and met all areas for improvemcnl 3 Read approach" A pyogi'ainme which looks at enhancing lit¢racy - listeningj communication and attention skills. School leavers trip to the S¢a-life Centre Graduation for our school l¢av¢rs Gardens Up￿.ade BLAST sessions 6 week block to enhance literacy & listcning 8kÉlls Staff training: First Aid, Nurture traiving. (OCTNE), UNCR rights ofthe child, PATHS trainin Realising the Ambilion, Circle Resource training. BLASTtrdining, Bookbugtraining and many more. Fittaneial Reviejv Our niain funding comes from fee income froin parents and carers and from the local authority. This has varied in r¢cent years due to th¢ cffectg of the pandemic. In th¢ year to 31 March 2024 the charity rccorded a deficit of £84.129 which leaves it with total funds at 31 March 2024 of £72,976, of which £72,176 is unrcstrittled. The deficit was largely du¢ to increased payroll costs which arose due to a combination of circumstance& and tliis will need to be monitored in fiiture. Governing documellt #nd Trnstees The charity is controlled by its governing dowment, a constitution. The trusl¢es are appointed annually at the AGM. Management and decision-m8king rests entirely with the Trustces, although r¢l¢vanl oulside professional advi¢¢ may be sought wheir beneficial. Reserves Policyl Rese.rveq Pnlicy Oiir rcsciv¢s policy is to aÈm tcj keep unY&qtricted rescrvcs al any IiTne nf at least £411,r)QO. which is ihe amount esliinated to be rcquii'ed ifthEre was a decision to close down ihc charity in an oiderly tnanFier and to honour any commithient8 if the eharity was ei'ei. to cease ifs operations. Thank you Exti8ct from AG.M rcpoTI- '1 would like to thatth all COEntnitte¢ members for their L'onliiiued support, tÈme atKk hai'd work. Sp￿la1 tlianks lo all meinbei's wlio are resignii)g tonighi as th¢ir Lhild ILdves IL¥ lo go to school. Yoiir timc and 5UPPOlt have been very mu¢h appreciated. Thank vou. And a hugc thtTrnk you to all staff for theiT continued support. enthusi&4m, dedication, hatryl wurlc and ci>mmitmcrkl. you ai'¢ Llydc Lottage! Thank you attd IKr¢'s to anoiher lun tilled, exciting and chailenging year ahead. c.laudia Montgom¢ry Approvcd by the trustees and signed on their bchaifby.. INDEPENDENT EXAMINERS, REPORT TU TFIE MLMBEKS OF CLYDE COTTACIF. NIJRSF.RY FOR THE YEAR ENDED 31 MARCH 21J24 I Irport on thc accounts of the ¢harity for tho ycar Cndcd 31 Mlli'cl) 2024, which are set out on pages 7 to 12. R¢$pe¢tlve RespoD5ibilities vf Truslees and Examine Th¢ charity's trustccs arc responsible for the preparalion of the accoLints in aecordance wtth the teiins of thc Charilics and TFlJStcc Inv¢stmctit (Seotland) Act 2005 and the Charities Accounts (Scot12tMI) Regiilatioiis 2006 (as amcndcd). Th¢ chai.ily Irustbcs coi).gidci' tltht tl)e Aiidit requirement of Regiilation 10{ l)la} lo Ic) af the Aecounts Reglilatioiis does not apply. 11 is Iny re8ponf iliility to examine the accounts as reqiilltd undei. section 44(1)(c) of the Act to state whclhcr particulRr matters have coine to my attention. Basi5 Orindepe￿dcnt Examiner's Statement My exaininaiion is ¢arried out in accoi'dancc willi Regtil(Ilion I l of the C.liariti&q Accounts (Scotland) Regulalions 2006. An examination includ¢s a revi¢w of Ilie aLcoiinliiig ircoi.ds kept hy the chatity and a¢omparison of the accounts presented with those records.. 11 alsu inLludes consid¢ralion of any Liniisiial items or disclosures in the a¢¢oLints, and seeks explanations froin the tru5t¢cs concerning any SLibh matters. 'I'he procedures uttdei'taken do not provide all the evidence that would be required in an audit, and corL8equently I do not express an audit opinion on the view given by the accounts. Indepelldent Examlner*s Statement In the course of my exaTninatton, no matter has come to my attention whi¢h gives me reasonable cause io believe that in any material respect the requiremenis: to keep accounting record5 in iiniai)I Hcnd¢i'50n & Company 160 Argyll Street Dunoon PA23 7NA 6 Decembcr 2024 CLYDE COTTAGE NURSEIRY STATEMENT OF FINANCIAL ACIJVITICI S (includiiig Income and fi.xpenditllre Account) FOR THE YEI AR ENDED 31 MARCH 2024 Note Unrestricte Resti'ieted 2024 2023 Ineoming Resouyces Incoming resouw¢s from generated fiinds Valuntai'y incoine Activities for g¢nerating funds Investinent Income Incoining resourocs from charitable activities 990 990 689 65 275,518 65 275,518 19 272,648 Total Incoming Resources 276,573 276,573 273,356 Resourees Expended Costs of genernting funds.. Costs of activilie4 for g¢llerdling funds Chai'itable activities GoV¢inat￿t costs 4,759 348,643 7,300 4,759 348.643 7,300 4.970 295,100 7,285 Total R¢sourees Expended 360,702 360,702 307.355 Net incomingl(outgoing) i.￿OUrceS before transftrs Transfers (84,129) (84,129) (33,999} Net Movement in Funds (84,129) (84,129) {33.999) Reeonciliation of Funds Total Funds brought forward 56,305 800 157,lOS 191,104 Total funds carried fonvard 17,18 72,176 8(K) 72,976 157,105 Th¢ statement of financial activities includes all gains and losses recogniscd in the year. All incoming ￿sOUrceS and resources expended derive from continuing activities. CLYDE COTTAGE NURSERY BALANCE SHEET AS AT31 MI ARCH 2024 Note 2024 2023 'ixeil Aisets 13 Current Assets Stock Debtors L'ash at bank and in ￿fid 14 495 7U J70./79 98,880 99,265 177,98Q r.utrrent L12bllities Credito 26.290 20,876 Net C'llryent Assets 72,975 J57, IU4 Net A.8sets 72,976 J57, 105 Ilnre8tri¢t¢d Ftsnds Geiierdl Reserv&s Restrlcted 17 i¥ 72,176 800 156,JQ5 8QO Total Funds 72,976 Ji7,105 Appi'ovLd by tlic'l riistees aiid gibmed on their Ikhalf 6 Deceinber 2024 CLYDE COTTAGE NURSERY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 NIARCH 2024 I. ACCOUNTING POLICIES a} Basis of Pi'eparation The financial stateiiierils have be¢n prepared ui)der the histoi'ic cost conveiitioii and in aceordanoe with the Ststcn)¢nl of Recoinineiided Practice.. A¢¢ounting and Reporting by Cl)arities preparing thf ii. accDunts ii) accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective l Januaiy 2019. the Chai'kties and Triistee Investment (Scotland) Aet 2005 and tlie Charities Accounts (Scotland) Regulations 2006 (as aiTretkded)- The principal accounting policies adopted Én the pr¢paration of the financial slateinents are set out below. b) Fund AcCounti￿g Unresti'icled funds available for usc at the digci'etion of the Tntstees in furtherance of the genei?l objectives of tl)e charity. Designated fu￿lS ar¢ unrestricted funds cannarked by the Trustees for partirular purposes. R¢sti'icted funds are subjcd¢d to restrictions oli their ¢xp¢nditure imposed by the donor or through the t¢rms of an appe£l. e) Ineoming Resources All incoming resou￿¢$ are included in the Statement of Financial Activities when th¢ charity is entitl￿ to the income and the amount ran be quantified with r¢agon&ble accuracy. The following specific policies are appli¢d to particular catcgories of income. Investment in¢om¢ is included when rcceivable. Incoming resources from charitable trading activiti¢s ar¢ accounted for wh¢n earned. d) Resources Expended Expenditure is recogttisLd on an accruals basis a5 & liability is incurtrd. Bxpendilure Includ(￿ any VAT which cannot be fully recovcrcil and is i'eportcd as parl of the expendilure lo which it rcla¢es'. Costs of genernting funds coinpris¢ tk costs associated with attracting voluntary incomc. Charitable expenditur¢ comprises thosc costs incurred by the ch￿'Ity in th¢ delivery of ils activitie% and seivitts for its bcnefieiaries. It includes both ¢0515 that can be allornted directly to such activili¢s and those costs of an indirect nature necessary lo support them. Governance Lx)sts iD¢lude thosc c051s a550ciat¢d with m¢¢tin8 the constituiional and st&utory requirments of th¢ charity and it)¢lude the independent examinotion fees alld costs linked to the strategic m￿nagement of the charily. All cost5 arc allocated betw¢en the ¢xp¢nditur¢ ¢ategoTie5 of the SOFA on a basis designed to r¢tle¢l the use of the resource. e} Tallgible Fixed Assets and Depreciation T&ngible fixed 2ssets are capitalEsed. including any incidental ¢xpenses of acquisitlon. Assets costing below £200 are fully dekYeci&ted the year of acquisition. D¢preciation is provided at the following anrkual rates in ord¢r to write off cach asget over its estimated us¢ful life: Fixtur¢s, Ftttings & Equipmcnt 20 /0 to 330/0 on cost 2. LeuFal Status The charity Ts a ¢haritable unincorporated association. the purposes and administration atYang¢ments are 5Ct out in the constitution. 3. Voluntary Income Unrestrieted Restricted 2024 2023 Uniforms Sundry siicome Donations 924 66 924 66 645 44 990 990 689 4 Activities for Generating Fuiids Unrestrieted Restricted 2024 2023 Photos Oth¢r fundraising activities 5. Investment Income Unrestricted Restricted 2024 2023 Bank inl¢r¢st 65 65 19 6. lucoming Rosources from Charltable Activities Unrestricted Restricted 2024 2023 Fees Argyll & Bule Councffil fe Argyll & Bute Council Grants 71,151 202,367 73,151 202,367 81.415 184,838 6,395 275,518 275.518 272,648 7. Costs of Generating Funds Direct Costs Support Cost% 2024 2023 Photos Support Costs 4,759 4,759 4,970 4,759 4.759 4,970 8 Resources Expended- Charitable Activities Diveet Costs Suppurt Costs 21124 2023 Provision of nUr￿ry 308,188 40,455 348.643 295,J(PO 9. Resources Expended- Governanee Costs Direct Costs Support Costs 2024 2023 Accountancy fees Legal fees Support costs 4,920 4.920 4,800 2.380 2,380 2,485 4,920 2J80 7,300 7,285 LO 10. Support Costs- Bi*akdown by Activity Gener#tin£ Funds ChHI'itable Aetivity Govei'nance Wages Posts, Stationery and Advertising Bank charges Sundiy 4,613 42 20 84 39,210 356 173 716 2,307 21 10 42 4,759 40,455 2,380 I l. Staff Costs and Numbers 2024 2023 Salaries & Wag¢s including Pcnsiort Payments Social security Costs 306,505 17,665 252,286 14,481 324,170 266, 767 The aveTaEe number of employces during the year. calculated on the basig of full-time equiwdlents was 16 (2023 - 14). No employee received emoluments of more than £60,000. 12. Trustees, Remuner￿*10ll 3Rd Related Party Trgnsactions No Trustees ￿¢¢iVed any remuneration during the year. No expenses werc r¢imbursed to Trustees. No Trustee or other person ￿lated to the charity had &ny personal iTLterest in any ¢onlra¢t or Iransaction entered inlo by ihe charity during th¢ year. 13. Flxed Assets Fixtures & Fittings Equipvnent Total Cost At l April 2023 Additions Disposals 5,023 11.606 16,629 At 31 March 2024 5,023 11,606 16,629 Depreciation At l Aprtl 2023 On Disposals ClTrarg¢ for the y¢ar 5,022 11,606 16,628 At 31 Mareh 2024 5,022 11.606 16,628 Net Book Values At 31 March 2024 At 3 1 March 2023 14. Stock 2024 2023 Stock of Clothing, at cost 228 4P3 15. Debtors Prepayments 2024 2023 Debtors 157 249 Pr¢payments 459 157 708 16. Creditor5: AnsollThts falling due within one year 2024 2023 Taxes and Social security costs Creditors, Accivals, F¢es in Advance and Refunds Due 3.769 22,521 3,576 17,309 26.290 20,876 17. Unrestrieted Funds BAlanee Movements in Funds Expenditure {GainsyL05S Balaiice at 31m3124 Incoming Re50uI'ees 01ffj4llJ TraN5fei's General R¢s¢rv¢ Designatcd Fixed Assets 156,304 276,573 360,702 72,175 156,305 276,573 360,702 72,176 18. Restricted FuThds Forest Adventur¢ Project 800 800 800 800 19. Analysis of Net Assets between Funds Net Current Assels Flxed Assets Total Restricted funds Unresti'iclcd funds 800 72,174 72,175 72,974 72,975 20. Control The charÉty is wntrolled by the Trustees. 12