Charlty reglstratlon number 1002791 SCORTON VILLAGE PRE-SCHOOL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 • xeinadin SCORTON VILLAGE PRE-SCHOOL LEGAL AND ADMINISTRATIVE INFORMATION TnMtee8 Mrn L Booth Mrs R Craggs Mrs K Ivallace Mrs R Monaghan Charlty numb 1002791 Prfnelpal addrn88 Scorton Vthr Memorlal In8tllute Scorton North YO￿h1r9 DL10 8DN Indopendent ox4mln•r Deborah FletCher￿cv8Y FCA Xelnadln Acuuntants Oak House, Martel Pla Bedale North Yorkshtre DL8 1AQ 8•nkor• Barclays Bank plc 31 Hlgh Row Darflngton County Durham DL3 7QS SCORTON VILLAGE PRE4CHOOL CONTENTS Trustaes, report Independent examtnefs report Balance sheet Notes to the fin8nthJ Slatements 6-11 SCORTON VILLAGE PRE4CHOOL TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The truslees present their annual report and financial statements for the year ended 31 March 2024. The finandal ststements have been prepared In accordance wlth the accountlng pollaes set out In nole 1 to the finandal statements and comply wlth the charftys constitution. the Chartties Act 2011 and °Accounting and Reporttng ty Charllles: Ststement of Recommended Practice applicable lo charities preparing thelr accounts in accordance with the Finandal Reporting Standard appllc8ble In the UK and Republic of Ireland (FRS 102)" (effecthfe 1 Janvary 2019). ObJectlve8 and actlvltles The chariV$ prindpal adlvtlies con11nue lo be that of enhanc4ng the development and educallon of chlldren primarily under stsfvtory school age by: Eneouraglng parents to understand and provide for the needs of their children through communlty groups and by offerlng approprfate pjay, educatlon and care fadlitles and trainlng courses, together wlth the right of pa￿ntS to take responsibllity for and to become involved in the activittes of such groups. ensuring that sud) gmups offer opportunltles for all chlldren %thatev8r their rdce. cutture. religion. means or abllty; Encouraglng the study of the needs of suth thlldren and thelr famllles and promollng publlc Interest In and recognlllon of such needs; and Inst[ga￿ng and adhering to and furtherlng the 8ims and obleds of the pre4thool leoming. The trustees have pald due regard to guldance Issued by the Charity Commisslon In deciding what activities the charfty should undertake. Achlevements and perfornian¢e This year Scorton Vlllage Pre-school has contlnued to provlde a conslstenty hlgh standard of thlldcare to pre 8chool chlldren wlthln the local area. The chlldcare envlronment in which we operate is becoming increasingty competllve and as a charity we revrew our activiti88 and the servlces we provide lo ensure we are able to meet the demand8 of local parents to the best of our abilty. Scorton Illllage Pre-school Is commllted to provldlng the best care available to the chlldren and thelr families and wlll contlnue to do so In the future. We contlnue to strengthen our polides and procedures and Introduce updates where applicable. Our slaff regularty complete tralnlng and we are looking to offer an apprenticeship in the future. The toddlers group conllnues to malntaln the strong link beiween the pre4chool and those parents with younger chlldren. Due lo planned Changes in govemment fitnding for younger thildren we are exploring allematlve ways of engaglng with the wider communty. There have been a number of successful small fundralslng actlvltles wlthln the year indudlng raffles and sponsored events, the ¢harlty also monStors the potentlal for grants and funding appllcallons from a number of OrganI￿lI0ns to 8UPPQrt our long temi fjnanci21 viablllty. The Chdstmas falr whlch Increases our vlslblllty Wtlhln the local cornmunty was 8uccessfiJl and we plan to continue th this. Our fundralslng account Is used to provlde exlra¢urrtuJlar acllvltles and we have begun b Introduce some extemal pro￿derS Into the settlng Indudlng yoga and dance dasses. We hold re8eNes In both our current and savlngs accounts whlch wtll allow us to operate for at least 8lx months should the funded chlldcare provlsion be delayed. Wve wlll conllnue to follow our reserves pollcy to malnlain them whenevw possible. The volunteers who wort wlth us are not ￿S1Omer facing but are commlttee members and trustees and can meet vlrtually lo ensure the smooth running of the charty. SCORTON VILLAGE PRE-SCHOOL TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Flnanclal revlew The Statement of Financial Activities shows an overall increase in Teserves in the year of £22,272 (2023 - £11,955). Total income amounted to £152.920 (2023 - £107,854). As at 31 March 2024 the charity had unrestricted funds of £119,660 (2023 - £97.388 ). These unrestricled funds indude cash at bank of£122,641 {2023- £97,803). The trustees have resolved to establish reserves to provide for future activitles, and the trustees have wide powers of investment. Within these powers a policy has been determined that the existing assets be retained to produce income which is wholly uts'lised lo support existing activities. The intention in the immediate future is to ensure that the pre-school hold5 adequate reserves to ensure that it can maintain the viability of the charity in relation to the ongoing changes in govemment childcare funding policies. Resep4es held are considered only sufficient to cover a reasonable period of expenditure, should further income fail to malerialise, and are held in an interest bearing bank account. Structure, governance and management The charity is an unincorporated association govemed by a constitution. Eligibility for membership of the charity and membership ol the board of trustee5 is govemed by the constitution. There are no restrictions in the goveming document on the operation of the charity or on il's investment powers, other than those imposed be general charity law. The trustees who sepied during the year and up to Ihe dale of signature of the financial statements were: Mrs L Booth Mrs R Craggs Mrs K Wallace Mrs R Monaghan The trustees are appointed al the charity's annual general meeting (AGM) and retire fmm offic& at the third AGM following the AGM at which they were elected. Any casual vacancy arising during the year is filled by CQvoplion of a person onlo the board: that person is then duly elecled at the subsequent AGM. The dislricl manager and three additional staff are also trustees, as authorised in the goveming document. No third party has a right to appolnt a Iruslee. Other than the trustees and those persons connected with them, there are no individuals who are related parties. Details of transactions wilh related parties are shown in the notes to the accounts. The truslees. report was approved by the Board of Trustees. Mrs L Booth Trustee 23 September 2024 SCORTON VILLAGE PRE4CHOOL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SCORTON VILLAGE PRE4CHOOL I report lo the trustees i>n my examlnalion of the finandal Statem￿13 of s¢￿tOn Vlllage Pre-school (the d￿rIty) for the year ended 31 Marth 2024. ReJpon8lblllllK and basls of report As the Iru8tees of the charty you are resp￿8￿￿ fw1he prep¥atlon of the blnandal Statements In aco)rdanc8 wlth the requlrements of the Ch8rllle8 Act 2011 (the 2011 Ad). I report In re8pe¢t of my examlnatlon of th8 t*wW8 lknarthl 8tataments carrled out under 8ecdon 145 of the 2011 ACL In caTrylng aut my exarnlnation I have follcra*d all the apptKable Dlrectlons glven ty the Charty Commlssion under 8e¢Xbn 145(5)arlng the ilnandal ststements. la Ch4rftabl• fund• Unresirfcied fvndi arn avall8ble for al the d18uelll￿ of the Iwstees In furlherance of thelr charttable Ob￿l￿1Ve8. 1A Income Income li recognSsed vthen Ihe charfty18 legalty entlded lo It after perfom)ance condhlons ha￿ been m6L the amounts can be meesured rnllabty, and11 kn wobable that hKome be rec¢lved. Cash donalloni are rewnlged recelpL Early years fundlng Ss recelved from North yo￿$hIre County Council for th08e children attendlng sesslons under the fundlng guidelines. The fundlng Is recognlsed on a monthty basis according lo pupll numbers and forecasted figures. Other tharItsble acliwty and tradlng acthAlles Inc¢xne Is recognlsed recelvable by Ihe tharfty. Investment Income. In the fomi of Inves￿ kthrest and dl¥ld•MJs, h re￿nISed when reCe￿able by the charty. SCORTON VILLAGE PRE-SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢counllng pollcles (Contlnued) 1.6 Expendlture Resources expended are In{*￿ed in the Statern￿ of FtnaThial ACti41ts￿ on an a¢47uals bas￿ Induslve of any VAT vthlth cAnnot be recovered. ChaTRable expendliure c4)m* those oxts incurred ty the charty in the d￿Very of tts 8dhAtles and seNces. Exwdiiure on ralslng funds represents those costs as8odatd Imlh generallng the other tradlng Income. 1.6 Tanglble flxed a88•ts Tangible fixed assets are iniiialty measured al co3t and subsequenty measured at cost or valuallon, net of depredallon and any Impatm*nt losses. Oepredallon Is recogrtlsed so as to ￿lIe off the cost or valuation of assets Jess their residual vabjes over thelr useful lives on the fo[lo￿4ng base& Fixtures and ffttlngs 15% straight ￿ne The gain or loss arlstng on the dispo￿1 of an asset is detemiined as the dffierence betsveen the sale proceeds and the canylng value of the asseL and is recognised in the Sktem￿l of financial a(alvitles. 1.7 Retlrement beneffts Payments to defined contrIbuU￿ relrnnenl benefft SL*emes are tharged as an expense as they fall due. Income from donatlon8 and lagaele8 Unrestrletsd Unrestrlcted funds funds 2024 2023 Donatlons and glfts Trainlng grant SCORTON VILLAGE PRE4CHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Incomo from charltable acllvllle8 Unrestrfcted Unrn81rf¢tod lunds funds 2024 2023 By actlvlty Fees Vouthers Toddlers dub Perfornian¢e related grants 22.874 15.667 311 112.370 16.187 4,443 604 85.523 151,222 106.737 Perf0m￿nce rolatad grants analy818 2024 2023 NYCC grant fundlng 112,370 85,523 Income from other tradlng a¢dvltle8 Unrestrlcted Unrestrlcted fund$ fund8 2024 2023 Fundralslng costs 527 1,033 Income from Investments Unrestrlcted Unrestrlcted funds funds 2024 2023 Interest recelv8ble 611 SCORTON VILLAGE PRE4CHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Expondlturg on ch•rltable acllvltl Unre8trlcted Unre8trlctsd fundg fund¥ 2024 2023 Dlrect Costs Staff costs Depreclatlon and Impalrment Rent Stsff tralnlng Insu(8nce Repalrg and equlpment renewal• Educatlon. actlvhies and travel Adverts Statlonery and office costs Sub8crlpiion8 Donallon8 and glft8 Accountancy fae8 Food, mllk and sundry expen8e8 108,388 78,434 533 3,800 330 4,411 517 li 1.127 2,480 2,869 356 880 110 371 2,978 5.787 931 2.S28 2,598 768 110 436 2,707 4,370 130.648 95,899 Analy•l8 by fund Unre8tricled fund8 130,648 95.899 Accountanw fees Indude8 payments to the accountsnts of £1.286 {2023 - £1,140) for accountancy and Independent examlnatton fee8, and £360 for payroll 8er¥lce8 <2023- £300). Tru•teo• On8 of the tru8tee$ recelved remuneratlon durtng the year of £27,055 (2023: £20,003 for her employment wllh the tharity, no remuneratlon was recelved for her role as a twstee (2023: nll). Another trustee Trolved £1,260 {£1.197} for provldlng bookkeeplng 8eNlcei to the charlty, no remuneratlon was rnc8lved ft>r her role as a trustee (2023: £nll). Employm• The average monthty number of empltyeos durfng the year was: 2024 Number 2023 Number Engaged In charftable a¢tlvltles SCORTON VILLAGE PRE4CHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employ008 (Contlnued) Employmènt e08ts 2024 2023 ge8 and Salarf Soclal se￿rIty costs Olher pen81on costs 104240 75.354 1.822 1.080 108.388 76,434 Ther8 were no empknyees annual renwnernlon was more than £80.000. Taxatlon The charlty18 exempt from t•xallon on Its actl¥llle8 becau￿ 8U tt8 Incoffte Is applled for ¢harltable purpo8e$. 10 Tanqlble fixed aM•l• Flxlum and Illllng• Co•t At l Awll 2023 5.006 At 31 March 2024 6,008 D•pro¢lallon and Impalrnmnt At 1 Aprfl 2023 Depredatlon thorged In the year 2.287 At 31 Morch 2024 2,883 Carylng *mount At 31 Marth 2024 2,323 At 31 Marth 2023 2.721 11 Debtorn 2024 2023 Amount8 lalllng du• wlthln on• year. Prepayments and o¢¢rued kncome 1.674 10- SCORTON VILLAGE PRE4CHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Credltorn: amounts falllng duo ￿￿thIn one year 2024 2023 Other taxatlon and so¢kl security Other credltors Accruals and defeffed Income 1.723 2,289 1.292 682 1.359 1,095 5.304 3.136 13 Related party transacllons Ouring the year one trustee ￿ fees totaIlng £nll (21r23 - £180) to the tharity In respect of their thildren attending the pre-school. 11