**New Studio Annual Report 2022/2023** **The past financial year of 2022-2023 has been for the first time in many years a real struggle.** **Our local schools have started taking children as soon as they turn 3, it used to be the term after they are three, so we had lots of children start the term with us but then leave as soon as they turned 3. Local schools with maintained nursery classes can offer full time provision at no cost to the parent and as a charity and self-sustainable setting we cannot offer this and need to charge fees.** **We did have children on our waiting list, but they were all 2 years old, and the staff ratios are 1-4 and we did not have the staff or capacity to offer them a space. So, we ran at a loss for 22-23.** **Our numbers for 23-24 are looking promising and we hope this improves our finances.** **Another reason for our financial difficulties is down to our lack of fundraising over the past few years (especially during covid times).** **Our current parents are very pro-active, and we hope to have a few events to raise much needed funds.** **This will include a summer fair (we haven’t had one since 2019) Sponsored Egg Hunt and raffles.** **We had a long-standing staff member leave us due to ill health and employed a new staff member who had not only been with us as a one-to-one support worker but had attended New Studio as a child herself as well as having her 2 children at New Studio too!** **Staff are all well qualified and continue to attend training to enhance their professional development and to ensure the children at New Studio have the best learning development and experiences possible.** **Our Forest School provision has been a great success and the children benefit from a learner inspired and hands on experience in a natural environment, children grow in confidence as they problem solve and manage risks which supports their emotional and social needs and provides them with a sense of well-being.** **Children access a range of experiences that include using real tools, cooking on a campfire and going on bug hunts.** **The children also grow fruit and vegetables in our allotment, and we then use them for snack or cooking, this gives children a sense of achievement watching them grow alongside the knowledge of how food grows.** **Feedback from leaving parents is always positive and they all say that their time at New Studio has given their child the best possible start in life and are school and life ready when they leave us.** **We are grateful to our landlords Notting Hill Methodist Church for their continued support and maintenance of our building and garden. We have recently renewed our lease which is for 7 years .** **We are very much part of the local community and have good links with the local schools.** **New Studio Preschool has families returning with siblings and now have the children of parents who attended New Studio themselves and returning to be part of ‘The New Studio Family ‘** **We look forward to seeing what this next year brings.** ## **Charity Registration No. 1017489** **FINANCIAL STATEMENTS FOR THE YEAR ENDED** **31 MARCH 2023** Newstudio Pre-school Registered as an Educational Charity Charity Inforniation - 31 st March 2023 Offiicers; Jemima Powell Rebecca Becher Claire Sheppard Chair Person Secretary Treasurer Committee Members: Melanie Clarke Casey Wragge Scarlett Spencer-churchill Trustees: Amanda Grender Sophie Cogan Ines Sanna Reglstered Charity Number: 1017489 Registered Office: Keffield Mev Kelfield Gardens London W10 6LS Bankers: CAF BANK Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Management Accountant G.K Murugesu FCMA Newstudio Prfrschool Committee Members, Responsibilities In the preparation of financial statements For the year ended 31st March 2023 Charity Legislation requires the committee to prepare financial statements for each finanual year which give a true and fair wew of the stste of the Charity as al the end of the financiai year and the income and expenditure of the Chanty for the yeaT ended on that dale. In preparing those finanaal ststements, suitable accounting poliues have been used, framed, to the best of the Committee's knovledge and behalf, by reference to reasonable and prudentjudgements and estimates and applied consislently. Appli(3ble accounting Jtsndards have been followed. The committee is also required lo indicate vknere the finan(aal statements are prepared other than on the basis that the Charity is a going con￿rn. The Committee is responsible for ensuring that arrangements are made for keesyng proper books of account with respect lo the Charitls transactions and ils assets and liabilities and for maintaining a sab'sfaclory systern of control over the Charitys t￿5 of accounts and transacticffls. The Committee is also responsible for ensuring that aTrangements are made to safeguard the assets of the Charity and hence for taking reasonable sleps for the prevention and detection of fraud detection of fraud and other iwulaiibes. The Financial Statement have been Prepar￿ on Accruals Accounting basis, from the AC￿Unting records provided by the New stud￿ Pre•Sch￿l Parents Committee. Prepared by.. G.K.Murugesu FCMA Chartered Management Aeeountsnt Newstudio Pre.School Statement of Financial Activities for the year ended 31 st March 2023 Notes Designated Restricted Unrestricted Totsl Funds Funds Funds Totsl Income and Expenditure 2023 2022 Incoming Resources from Generated Funds Voluntsry In1￿me 852 852 2.132 Inveslmenl Incnme 88 Incoming Resources from Charitable Activities 137.114 137,114 158,650 Total Incoming Resources 138,054 138,054 160,784 Resources Expended Charitable Activities 164,189 164,189 150.846 Governan￿ Costs 10 8,400 8,400 Fund Raising Costs 11 53 53 216 Total Resources Expended 172,642 172,642 158,862 Net Incorning Resources -34,588 1,922 Funds b[ol￿h1 foThRrd 51,889 51,889 49,967 Transfer of Funds Funds Carried foThYard 17,301 17,301 51,889 All the Charitys operations are dassed as contrnuing. Statement of Totsl Recognised Gains and Losses There were no recc4Jnised gains and losses other than those induded in the Statement of Financial ACt￿￿eS. Newstudio Pre4chool Balance Sheet as at 31st March 2023 2023 2022 Note5 Current Assets Cash at Bank 14,915 49,891 Debtors 2.386 17,301 1,998 51,889 Current Liabilities - (under 1 year) Creditors & AccruaL8 Net Assels 17,301 51,889 Analysis of Net Assets by Fund Unrestricted Funds 7,301 41,889 Designated Funds 10,000 10,000 Restricted Funds 17,301 51,889 ..Trustefr Newstudio Pre-school .. Trustee -Newstudio Pre.School .. Trustee - Newstudio Pre4chool Approved on behalf of the Newstudio Pre4chool Newstudio Pre4chool Notes to the Financial Statements For the Year Ended 31st March 2023 11 Accounting Policies Accounting Convention The Accounts are prepared under the Hisloriccl Cost Convention and Lqke inlo 8ccount the recommendations oudined in the Statements of Recommended Prath'ce. Fixed Assets Play equipment expenditure is written off to the In￿Me and expenditure account in the year in which the expenditure is incurred. All other assets purchased over £1000. not specffic2lly funded aw. capilalised, and written off to the Income and Expenditure Account over a per*?d of four years. 21 Designated Funds The funds have been allocated for the following purpow: 2023 2022 Contractual Statutory Liabilities 10,000 10,000 2023 2022 31 Staff Costs Salaries 110,841 110,841 96,799 96,799 2023 2022 Part-lime Stsff No employee was remunerated at a rate of £60,000 {2022= £60,0￿1. 4) Trustees Expenses:. For 2023= £NIL {2022= £NIL). 5) Analysls of Funds Unrestrlctsd Restricted Fund Fund Totsl 2023 Fixed Assets Current Assets Current Liabilities 17.301 17,301 17,301 17,301 Newstudio Pre-school Notes to the Financial Statements For the Year to 31st March 2023 Statement of Financial Activities Incoming Resources from Generated Funds Restricted Unrestricted Funds Funds Total 2023 Totsl 2022 6) Voluntsry Income Royal Borogh of Kensington & Chelsea Donation & Fund Raising Cxher Grants 852 852 2,132 852 852 2,132 7} Investment Income Bank Interest 88 88 88 81 Incoming Resources from Charitable Activities Fee In￿me MFE & Under 2 Year Funding RBKC Other Grant 27.S45 95,534 14.035 27,545 95,534 14,035 32,105 122,387 4,158 137.114 137,114 158,650 Totsl Incoming Resources 138.054 138,054 160,784 Newstudio Pre4chool Notes to the Financial Statements For the Year Ended 31st March 2023 Restrictsd Unrestricled Funds Funds Totsl 2023 Totdl 2022 9} Charitable Activities Salaries Staff Training 110,841 670 110,841 670 96,799 2,329 Rent & Services Telephone Insuran Repairs & Renewals Cleaning 27,668 1,198 977 4,659 93 27,668 1,198 977 4,659 93 26,112 1,624 3,416 730 Activities Outting Toys & Equipment Consumables 1,041 41 4.597 5,408 1,041 41 4,597 5,408 467 574 8,935 3,601 Subscription Publicity Prinling postage ststionery 1,067 75 5,782 1,067 75 5,782 588 75 4,501 Bank Charges 72 72 96 164,189 164,189 150,846 101 Governance Accountancy Fee 8.400 8,400 7,800 11} Fund Raising expendlture 53 53 216 Total Resources Expended 172,642 172,642 158.862 ## **Charity Registration No. 1017489** **FINANCIAL STATEMENTS FOR THE YEAR ENDED** **31 MARCH 2023** Newstudio Pre-school Registered as an Educational Charity Charity Inforniation - 31 st March 2023 Offiicers; Jemima Powell Rebecca Becher Claire Sheppard Chair Person Secretary Treasurer Committee Members: Melanie Clarke Casey Wragge Scarlett Spencer-churchill Trustees: Amanda Grender Sophie Cogan Ines Sanna Reglstered Charity Number: 1017489 Registered Office: Keffield Mev Kelfield Gardens London W10 6LS Bankers: CAF BANK Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Management Accountant G.K Murugesu FCMA Newstudio Prfrschool Committee Members, Responsibilities In the preparation of financial statements For the year ended 31st March 2023 Charity Legislation requires the committee to prepare financial statements for each finanual year which give a true and fair wew of the stste of the Charity as al the end of the financiai year and the income and expenditure of the Chanty for the yeaT ended on that dale. In preparing those finanaal ststements, suitable accounting poliues have been used, framed, to the best of the Committee's knovledge and behalf, by reference to reasonable and prudentjudgements and estimates and applied consislently. Appli(3ble accounting Jtsndards have been followed. The committee is also required lo indicate vknere the finan(aal statements are prepared other than on the basis that the Charity is a going con￿rn. The Committee is responsible for ensuring that arrangements are made for keesyng proper books of account with respect lo the Charitls transactions and ils assets and liabilities and for maintaining a sab'sfaclory systern of control over the Charitys t￿5 of accounts and transacticffls. The Committee is also responsible for ensuring that aTrangements are made to safeguard the assets of the Charity and hence for taking reasonable sleps for the prevention and detection of fraud detection of fraud and other iwulaiibes. The Financial Statement have been Prepar￿ on Accruals Accounting basis, from the AC￿Unting records provided by the New stud￿ Pre•Sch￿l Parents Committee. Prepared by.. G.K.Murugesu FCMA Chartered Management Aeeountsnt Newstudio Pre.School Statement of Financial Activities for the year ended 31 st March 2023 Notes Designated Restricted Unrestricted Totsl Funds Funds Funds Totsl Income and Expenditure 2023 2022 Incoming Resources from Generated Funds Voluntsry In1￿me 852 852 2.132 Inveslmenl Incnme 88 Incoming Resources from Charitable Activities 137.114 137,114 158,650 Total Incoming Resources 138,054 138,054 160,784 Resources Expended Charitable Activities 164,189 164,189 150.846 Governan￿ Costs 10 8,400 8,400 Fund Raising Costs 11 53 53 216 Total Resources Expended 172,642 172,642 158,862 Net Incorning Resources -34,588 1,922 Funds b[ol￿h1 foThRrd 51,889 51,889 49,967 Transfer of Funds Funds Carried foThYard 17,301 17,301 51,889 All the Charitys operations are dassed as contrnuing. Statement of Totsl Recognised Gains and Losses There were no recc4Jnised gains and losses other than those induded in the Statement of Financial ACt￿￿eS. Newstudio Pre4chool Balance Sheet as at 31st March 2023 2023 2022 Note5 Current Assets Cash at Bank 14,915 49,891 Debtors 2.386 17,301 1,998 51,889 Current Liabilities - (under 1 year) Creditors & AccruaL8 Net Assels 17,301 51,889 Analysis of Net Assets by Fund Unrestricted Funds 7,301 41,889 Designated Funds 10,000 10,000 Restricted Funds 17,301 51,889 ..Trustefr Newstudio Pre-school .. Trustee -Newstudio Pre.School .. Trustee - Newstudio Pre4chool Approved on behalf of the Newstudio Pre4chool Newstudio Pre4chool Notes to the Financial Statements For the Year Ended 31st March 2023 11 Accounting Policies Accounting Convention The Accounts are prepared under the Hisloriccl Cost Convention and Lqke inlo 8ccount the recommendations oudined in the Statements of Recommended Prath'ce. Fixed Assets Play equipment expenditure is written off to the In￿Me and expenditure account in the year in which the expenditure is incurred. All other assets purchased over £1000. not specffic2lly funded aw. capilalised, and written off to the Income and Expenditure Account over a per*?d of four years. 21 Designated Funds The funds have been allocated for the following purpow: 2023 2022 Contractual Statutory Liabilities 10,000 10,000 2023 2022 31 Staff Costs Salaries 110,841 110,841 96,799 96,799 2023 2022 Part-lime Stsff No employee was remunerated at a rate of £60,000 {2022= £60,0￿1. 4) Trustees Expenses:. For 2023= £NIL {2022= £NIL). 5) Analysls of Funds Unrestrlctsd Restricted Fund Fund Totsl 2023 Fixed Assets Current Assets Current Liabilities 17.301 17,301 17,301 17,301 Newstudio Pre-school Notes to the Financial Statements For the Year to 31st March 2023 Statement of Financial Activities Incoming Resources from Generated Funds Restricted Unrestricted Funds Funds Total 2023 Totsl 2022 6) Voluntsry Income Royal Borogh of Kensington & Chelsea Donation & Fund Raising Cxher Grants 852 852 2,132 852 852 2,132 7} Investment Income Bank Interest 88 88 88 81 Incoming Resources from Charitable Activities Fee In￿me MFE & Under 2 Year Funding RBKC Other Grant 27.S45 95,534 14.035 27,545 95,534 14,035 32,105 122,387 4,158 137.114 137,114 158,650 Totsl Incoming Resources 138.054 138,054 160,784 Newstudio Pre4chool Notes to the Financial Statements For the Year Ended 31st March 2023 Restrictsd Unrestricled Funds Funds Totsl 2023 Totdl 2022 9} Charitable Activities Salaries Staff Training 110,841 670 110,841 670 96,799 2,329 Rent & Services Telephone Insuran Repairs & Renewals Cleaning 27,668 1,198 977 4,659 93 27,668 1,198 977 4,659 93 26,112 1,624 3,416 730 Activities Outting Toys & Equipment Consumables 1,041 41 4.597 5,408 1,041 41 4,597 5,408 467 574 8,935 3,601 Subscription Publicity Prinling postage ststionery 1,067 75 5,782 1,067 75 5,782 588 75 4,501 Bank Charges 72 72 96 164,189 164,189 150,846 101 Governance Accountancy Fee 8.400 8,400 7,800 11} Fund Raising expendlture 53 53 216 Total Resources Expended 172,642 172,642 158.862