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Unaudited Financial Statements |
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for the Year Ended |
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31 August 2019 |
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for |
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Braunstone Childcare Co-operative Ltd |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended |
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31 August 2019 |
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for |
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Braunstone Childcare Co-operative Ltd |
Braunstone Childcare Co-operative Ltd (Registered number: 04930114) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2019 |
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Page |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 5 |
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Braunstone Childcare Co-operative Ltd |
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Company Information |
for the Year Ended 31 August 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Charnwood House |
Harcourt Way |
Meridian Business Park |
Leicester |
Leicestershire |
LE19 1WP |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Braunstone Childcare Co-operative Ltd |
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The following reproduces the text of the report prepared for the directors in respect of the company's |
annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain |
other primary statements and the Report of the Directors are not required to be filed with the |
Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your |
approval the financial statements of Braunstone Childcare Co-operative Ltd for the year ended |
31 August 2019 which comprise the Income Statement, Balance Sheet and the related notes from the |
company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Braunstone Childcare Co-operative Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Braunstone Childcare Co-operative Ltd and state those matters that we have agreed to state to the Board of Directors of Braunstone Childcare Co-operative Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Braunstone Childcare Co-operative Ltd and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Braunstone Childcare Co-operative Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Braunstone Childcare Co-operative Ltd. You consider that Braunstone Childcare Co-operative Ltd is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Braunstone Childcare Co-operative Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
Charnwood House |
Harcourt Way |
Meridian Business Park |
Leicester |
Leicestershire |
LE19 1WP |
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Braunstone Childcare Co-operative Ltd (Registered number: 04930114) |
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Balance Sheet |
31 August 2019 |
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31.8.19 | 31.8.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
7 |
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NET ASSETS |
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RESERVES |
Income and expenditure account |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which 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 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 company. |
Braunstone Childcare Co-operative Ltd (Registered number: 04930114) |
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Balance Sheet - continued |
31 August 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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Braunstone Childcare Co-operative Ltd (Registered number: 04930114) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2019 |
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1. | STATUTORY INFORMATION |
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Braunstone Childcare Co-operative Ltd is a
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England and Wales. The company's registered number and registered office address can be found on |
the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of services and grants received from funders. |
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Tangible fixed assets |
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Improvements to property | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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Grant income |
Grants receivable relating to revenue expenditure are included in the period to which they relate. |
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Capital grants are written off over the expected life of the relevant assets. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Braunstone Childcare Co-operative Ltd (Registered number: 04930114) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2019 |
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4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2018 |
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Additions |
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Disposals | ( |
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( |
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At 31 August 2019 |
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DEPRECIATION |
At 1 September 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 August 2019 |
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NET BOOK VALUE |
At 31 August 2019 |
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At 31 August 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.19 | 31.8.18 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.19 | 31.8.18 |
£ | £ |
Trade creditors |
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Social security and other taxes |
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Other creditors |
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Accruals and deferred income |
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Deferred government grants |
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Braunstone Childcare Co-operative Ltd (Registered number: 04930114) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2019 |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.8.19 | 31.8.18 |
£ | £ |
Deferred government grants |
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8. | OTHER FINANCIAL COMMITMENTS |
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The company had total guarantees and commitments at the balance sheet date of £7,632 (2018 - |
£10,180). |
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9. | GOING CONCERN |
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The nursery is experiencing reducing government funding for child places, added to increases in |
employment costs which has resulted in an operating loss for the period. An Ofsted report in |
November 2019 required the setting to make improvements which the Co-operative board and the |
staff have been working towards. |
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The Co-operative board members are hopeful for a positive Ofsted follow up in early 2020 and have |
taken steps to rationalise costs across the organisation, which will enable the nursery to increase |
the intake in September 2020 and secure the future of the nursery. The current forecasts show that |
there is adequate cash-flow and reserves for the 12 months from the date of signing these accounts, |
to enable this turnaround plan to be implemented and therefore the accounts have been prepared |
on a going concern basis. |