REGISTERED COMPANY NUMBER: 05719325 (England and Wales)

REGISTERED CHARITY NUMBER: 1110553

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED

31 JULY 2017

FOR

A.G.N.E.S. DAY NURSERY

A.G.N.E.S. DAY NURSERY

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

Page

Reference and Administrative Details

1

Report of the Trustees

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5 to 6

Notes to the Financial Statements

7 to 11

A.G.N.E.S. DAY NURSERY

REFERENCE AND ADMINISTRATIVE DETAILS

FOR THE YEAR ENDED 31 JULY 2017

TRUSTEES

Mrs J E Jansen

Miss S M Chinnery

Miss K Jansen

Mrs J Mayes

Miss A Bayley

Mrs E Priestman

A V Everard

REGISTERED OFFICE

4 Doubleday Gardens

Bocking Braintree

Essex

CM7 9SW

REGISTERED COMPANY NUMBER

05719325 (England and Wales)

REGISTERED CHARITY NUMBER

1110553

INDEPENDENT EXAMINER

Gane Jackson Scott LLP

Chartered Certified Accountants

Second Floor, Kestrel House

Falconry Court

Bakers Lane

Epping

Essex

CM16 5BD

A.G.N.E.S. DAY NURSERY

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 JULY 2017

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their

report with the financial statements of the charity for the year ended 31 July 2017. The trustees have adopted

the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2015).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The principal activity of the company is to manage a day nursery for children.

Main activities

The charity continues to provide a day nursery service to pre-school children. Through the provision of an

appropriate learning through play environment, the charity supports the development and progression of the

children in readiness for their ultimate transition to their statutory school education.

Public benefit

In shaping the Company's objectives and planning the activities, the Trustees have considered the Charity

Commission's guidance on public benefit.

FINANCIAL REVIEW

Reserves policy

The Company's Reserves are disclosed on the balance sheet. The trustees consider the reserves are

adequate to meet future needs and cover contingencies that cannot be met from future income.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The A.G.N.E.S. Day Nursery is a company limited by guarantee and is a registered charity. It was constituted

as a company on 23rd February 2006 and is governed by its Memorandum and Articles of Association.

STATEMENT OF TRUSTEES RESPONSIBILITIES

The trustees (who are also the directors of A.g.n.e.s. Day Nursery for the purposes of company law) are

responsible for preparing the Report of the Trustees and the financial statements in accordance with

applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting

Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true

and fair view of the state of affairs of the charitable company and of the incoming resources and application of

resources, including the income and expenditure, of the charitable company for that period. In preparing

those financial statements, the trustees are required to

-

select suitable accounting policies and then apply them consistently;

-

observe the methods and principles in the Charity SORP;

-

make judgements and estimates that are reasonable and prudent;

-

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy

at any time the financial position of the charitable company and to enable them to ensure that the financial

statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of

the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and

other irregularities.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act

2006 relating to small companies.

Approved by order of the board of trustees on 10 April 2018 and signed on its behalf by:

Mrs J E Jansen - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

A.G.N.E.S. DAY NURSERY

Independent examiner's report to the trustees of A.g.n.e.s. Day Nursery ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2017.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

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 your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2.

the accounts do not accord with those records; or

3.

the accounts 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

4.

the accounts 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)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached

G O'Malley

Gane Jackson Scott LLP

Chartered Certified Accountants

Second Floor, Kestrel House

Falconry Court

Bakers Lane

Epping

Essex

CM16 5BD

10 April 2018

A.G.N.E.S. DAY NURSERY

STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 JULY 2017

2017

2016

Unrestricted fund

Total funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Charitable activities

2

Nursery provision

84,027

102,947

Total

84,027

102,947

EXPENDITURE ON

Charitable activities

3

Nursery provision

102,627

128,037

NET INCOME/(EXPENDITURE)

(18,600

)

(25,090

)

RECONCILIATION OF FUNDS

Total funds brought forward

84,112

109,202

TOTAL FUNDS CARRIED FORWARD

65,512

84,112

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

A.G.N.E.S. DAY NURSERY

BALANCE SHEET

AT 31 JULY 2017

2017

2016

Unrestricted fund

Total funds

Notes

£

£

FIXED ASSETS

Tangible assets

8

2,775

2,830

CURRENT ASSETS

Stocks

9

100

100

Debtors

10

2,393

5,297

Cash at bank

61,366

78,823

63,859

84,220

CREDITORS

Amounts falling due within one year

11

(1,122

)

(2,938

)

NET CURRENT ASSETS

62,737

81,282

TOTAL ASSETS LESS CURRENT LIABILITIES

65,512

84,112

NET ASSETS

65,512

84,112

FUNDS

12

Unrestricted funds

65,512

84,112

TOTAL FUNDS

65,512

84,112

The charitable company is entitled to exemption from audit under

Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended

31 July 2017 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)

ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the

special provisions of Part 15 of the Companies Act 2006 relating to

charitable small companies.

The financial statements were approved by the Board of Trustees on 10 April 2018 and were signed on its behalf by:

Mrs J E Jansen -Trustee

A.G.N.E.S. DAY NURSERY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102,

have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by

Charities: 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) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard

applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements

have been prepared under the historical cost convention.

A.G.N.E.S Day Nursery is a private charitable company, limited by guarantee, incorporated in England

& Wales. The registered office is detailed on page 1 of the financial statements. The financial

statements are presented in Sterling which is the functional currency of the charitable company.

This is the first set of financial statements prepared by the charitable company in accordance with FRS

102. The charitable company transitioned from previously extant UK GAAP to FRS 102 as at 1 August

2015. There were no adjustments required on transition to FRS 102.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the

funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation

committing the charity to that expenditure, it is probable that a transfer of economic benefits will be

required in settlement and the amount of the obligation can be measured reliably. Expenditure is

accounted for on an accruals basis and has been classified under headings that aggregate all cost

related to the category. Where costs cannot be directly attributed to particular headings they have been

allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated

useful life.

Fixtures and fittings

- 33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the

trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity.

Restrictions arise when specified by the donor or when funds are raised for particular restricted

purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial

statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the

charitable company's pension scheme are charged to the Statement of Financial Activities in the

period to which they relate.

2.	INCOME FROM CHARITABLE ACTIVITIES

2017

2016

Activity

£

£

Grants

Nursery provision

59,951

68,748

Fees received

Nursery provision

24,076

34,199

84,027

102,947

3.	CHARITABLE ACTIVITIES COSTS

2017

2016

£

£

Nursery provision costs - see note 4

101,666

128,037

4.	SUPPORT COSTS

Nursery provision

£

Nursery provision

102,627

Support costs, included in the above, are as follows:

2017

2016

Nursery provision

Total activities

£

£

Wages

77,679

97,242

Social security

-

396

Pensions

179

-

Rent and storage

8,580

9,010

Insurance

616

558

Equipment and supplies

4,058

6,247

Telephone

1,554

1,750

Subscriptions

375

778

Advertising

441

406

Professional fees

3,988

3,803

Independent examination

744

750

Other costs

1,477

5,054

Depreciation of tangible and heritage assets

2,936

2,043

102,627

128,037

5.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2017

2016

£

£

Depreciation - owned assets

2,936

2,043

Independent examiner fees

744

750

6.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2017 nor for the year

ended 31 July 2016.

Trustees' expenses

Expenses were reimbursed during the year as follows:

Number of trustees

2017

Number of trustees

2016

£

£

Equipment and supplies

1

444

6

1,292

7.	STAFF COSTS

2017

2016

£

£

Wages and salaries

77,679

97,242

Social security costs

-

396

Other pension costs

179

-

77,858

97,638

The average monthly number of employees during the year was as follows:

2017

2016

Teaching staff - full and part-time

8

9

No employees received emoluments in excess of £60,000.

8.	TANGIBLE FIXED ASSETS

Fixtures and fittings

£

COST

At 1 August 2016

11,303

Additions

2,881

At 31 July 2017

14,184

DEPRECIATION

At 1 August 2016

8,473

Charge for year

2,936

At 31 July 2017

11,409

NET BOOK VALUE

At 31 July 2017

2,775

At 31 July 2016

2,830

9.

STOCKS

2017

2016

£

£

Finished goods

100

100

10.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

1,892

4,772

Prepayments and accrued income

501

525

2,393

5,297

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Social security and other taxes

352

1,792

Other creditors

50

-

Accruals and deferred income

720

1,146

1,122

2,938

12.	MOVEMENT IN FUNDS

At 1/8/16

Net movement in funds

At 31/7/17

£

£

£

Unrestricted funds

General fund

84,112

(18,600

)

65,512

TOTAL FUNDS

84,112

(18,600

)

65,512

Net movement in funds, included in the above are as follows:

Incoming resources

Resources expended

Movement in funds

£

£

£

Unrestricted funds

General fund

84,027

(102,627

)

(18,600

)

TOTAL FUNDS

84,027

(102,627

)

(18,600

)

Comparatives for movement in funds

At 1/8/15

Net movement in funds

At 31/7/16

£

£

£

Unrestricted Funds

General fund

109,202

(25,090

)

84,112

TOTAL FUNDS

109,202

(25,090

)

84,112

Comparative net movement in funds, included in the above are as follows:

Incoming resources

Resources expended

Movement in funds

£

£

£

Unrestricted funds

General fund

102,947

(128,037

)

(25,090

)

TOTAL FUNDS

102,947

(128,037

)

(25,090

)

13.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2017.