2020-08-31-accounts - Oldfield Pre-School

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Trustees’ Annual Report for the period

From 1[st] September 2019 Period start date To 31[st] August 2020 Period end date

Charity name: Oldfield Pre-School

Charity registration number: 1018094

Objectives and Activities

Objectives and Activities
	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	Our aim is to provide a safe and stimulating, healthy, happy and caring environment, in which a child can play whilst developing socially, emotionally, physically and mentally.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	The Pre-School ran sessions for children ages 2.5 - 4 years, with a maximum of 20 children per session. Morning and afternoon sessions were 3 hours duration each and whole day sessions of 7 hours were also available. Sessions over lunch lasting 0.75 hours were also available for children who attended in a morning or afternoon. There were 41 different children who attended one or more sessions per week during the year. As a result of the Coronavirus pandemic, the Pre-School was only open for children of key worker parents from March 23rd. To support those key worker parents the Pre-School opened during the Easter holidays for the first ever time. A gradual wider reopening took place during June and July as allowed by the government. We help to support the local community and its resources through advertising our activities/functions, utilising local premises and involving local businesses, visiting the library and children’s centres for events that the local community can become involved in. We offer students from the local schools and colleges the opportunity to gain further experience of working with children, and encourage parents to volunteer their time at the Pre-School so they feel involved and part of the community. As the Pre-School is located on the site of Oldfield Primary School, it enables children to have a smooth and comfortable transition to a school environment, through regular visits into the school. As the School has been oversubscribed in recent years, close links have continued to be developed with the other local schools attended by children from the Pre-School. We continue to have a waitinglist of children wantingto

		attend the Pre-School. To ensure that as many local children as possible can attend we cap the maximum number of sessions a child can have to 5 half days or 3 full days. Unfortunately, the planned replacement of the building due over July & August 2020 was unable to take place due to pandemic restrictions at our suppliers. It is now expected coronavirus permitting that the replacement will takeplace summer 2021.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The charity trustees have complied with the Public Benefit requirement in section 17 of the Charities Act 2011 to have due regard to guidance published by the Commission.

Additional information (optional)

You may choose to include further statements where relevant about:

	SORP reference
Policy on grant making	Para 1.38	We do not give grants.
Policy on social investment including program related investment	Para 1.38
Contribution made by volunteers	Para 1.38	We are grateful for the support of volunteers, we have Duke of Edinburgh volunteer in sessions and many parents and relatives assist around raising funds for the Pre-School.
Other

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	The Pre-School has given the children lots of opportunities to explore their world and local environment through play based activities. We have endeavored to build children’s self-confidence, self- esteem and self-reliance; and given them an understanding of how to keep safe and live a healthy life. Children have visited local libraries, schools and shops, had opportunities to learn about multi-cultural celebrations, and have raised money to donate to children’s charities. Lunchtime sessions continue to be popular and are recognised by Oldfield Primary School as assisting children in their transition to Primary school. By increasing the children’s independence at lunchtimes andgettingthem used to eatingwith other children,

the Pre-School children have found lunch times to be less daunting when they move up to Reception class, which has helped them to settle into the school day. The continued placement of a paid administrator enables us to offer adhoc sessions to children where spaces were empty having been reserved for children starting later in the year, or due to children dropping sessions. This was a benefit to local parents through increased flexibility and in generating additional income for the Pre-School. Monies generated through fundraising have been used to provide additional toys, equipment and activities for children as well as being put towards the refurbishment / replacement of the Pre-School building. The major thrust of fundraising has been for the building project. The following fundraising events were undertaken and the following amounts were raised: Specifically for the Building Project • Two Afternoon Tea celebrations £715 • Christmas Fair including Raffle £1116 • We received £117 from the Centurion Raffle General fundraising - Individual Photos - £345 We received grants from the Garfield Weston Trust (£10,000) and Ursula Keyes Foundation (£25,000) towards the replacement building. We are in discussions with them to see if the grants can be held over to 2021. Unfortunately the usual Open Day and Sponsored activity were unable to take place due to the Covid pandemic restrictions.

Additional information (optional)

You may choose to include further statements where relevant about:

Achievements against objectives set	Para 1.41
Performance of fundraising activities against objectives set	Para 1.41
Investment performance against objectives	Para 1.41
Other

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	Due to the covid-19 pandemic the Pre-School shut to all but the children of essential workers from March until part way through June when we were able to start opening more days and to more children per session. Therefore we couldn’t bill parents for sessions they would normally pay for as their children were not attending. We lost out of £3,886 in parental fees. We were also unable to run out annual open day in the summer term due to the pandemic. This usually raises approximately £400 for our building fund. We furloughed 2 members of staff from March through to July but as a result of updated guidance after they had been furloughed and receiving the small business grant, no claims were made to the Coronavirus Job Retention Scheme. We have also had additional costs due to the pandemic in relation to hand gel and masks which were initiated in July but were not invoiced for until September. We were due to have our building replaced over the summer of 2020. Due to not being able to replace the building we had to make extra, essential repairs. The fact that we had much higher than normal occupancy from September to December 2019, the receiving of the small business grant, and the grant funding of £35,000 for the replacement building enabled Pre-School to make a slight surplus despite paying the new building deposit of £64,439. The Receipts and Payments account shows the expenditure of £64,439 on the deposit for the replacement building. Unfortunately this was delayed due to the Covid-19 pandemic. The trustees intend to go ahead with the project and have therefore recorded £32,682 for the balance due to the replacement building supplier as a liability, although due to ongoing Covid-19 restrictions we have not been able to confirm that the replacement building will definitely go ahead in summer 2021.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	The level of reserves is set as a worst case scenario at the value required to close down the Pre-School without any trustees incurring liability for the close down costs. The level of reserves required is calculated based on the sum estimated to cover the following. • Statutory redundancy costs for all staff • Annual Independent Examination fees • One month’s operational running cost to allow for clearing already incurred costs – e.g. utilities / unpaid suppliers, 4 weeks staff notice. After the reserves requirement is met,all excess of income

		over expenditure monies are put to the contingency fund (1 month’s expenditure) and the buildings fund for refurbishment / replacement of the Pre-School building
Amount of reserves held	Para 1.22	Due to increases in salary costs and therefore monthly operating costs, the reserves are £48,701. Due to the increased costs and uncertainty of the pandemic the contingency fund has been increased to £10,000 This results in the buildings fund standing at £110,607 after the initial deposit was paid on the building. Note the buildings fund includes £35,000 grant monies which we have not yet had confirmation we can defer to 2021. The buildings fund is expected to be spent on a new building in 2021.
Reasons for holding zero reserves	Para 1.22	N/A
Details of fund materially in deficit	Para 1.24	No funds are materially in deficit.
Explanation of any uncertainties about the charity continuing as a goingconcern	Para 1.23	N/A

Additional information (optional)

You may choose to include further statements where relevant about:

	The charity’s principal sources of funds (including any fundraising)	Para 1.47	The principle sources of funds are the Early Years Foundation Stage (EYFS) funding grants for 3 and 4 year olds, fees from parents who are not eligible or are claiming their EYFS grants elsewhere and fundraising. We had significant successes with our fundraising, in particular gaining grants for the replacement building project of £35,000 and conditional pledges of £3,500. We are very grateful to all those who supported us at our fundraising events. Whilst most of the fundraising has been for the replacement building project, some has been used to enhance the experience of the children and continue to maintain the building. We are grateful to those who have supported us throughout the year in a variety of different ways. We would like particularly to acknowledge the significant support from Oldfield Primary School, the United Reformed Church, local shops, the Centurion pub, and all our volunteers. But we also must not forget all the parents, grandparents and carers of the children who are continually asked to contribute either by donating gifts or giving up their time to help at the Open Day and Christmas fayres and for coming along and supporting us at these events. Our keyaim with all our expenditure is to ensure that all

		children can participate in our activities and have the best possible outcomes from their time with us. No trustees received any remuneration during the year.
Investment policy and objectives including any social investment policy adopted	Para 1.46
A description of the principal risks facing the charity	Para 1.46	The principal risks facing Oldfield Pre-School are • a full or partial closure due to Covid-19, • a significant reduction in children who wish to attend, • the continued freeze / minimal increases on the amount of Early Years Foundation Stage Funding from the government, whilst statutory minimum wage levels increase significantly. • Further delay to the replacement of the building beyond 2021.
Other

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Early Years Alliance (formerly Pre-School Learning Alliance) Constitution
How is the charity constituted? (e.g unincorporated association,CIO)	Para 1.25	Trust deed – updated 10 thJune 2010
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Elected by the membership (parents of the Pre-School children)

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction and training of trustees	Para 1.51	The Pre-School is run by the members of the committee (trustees) in conjunction with the manager of the Pre- School. All trustees are provided with a copy of the Statutory Framework for Early Years Foundation Stage in order to understand the legal requirements and standards that the Pre-School need to achieve.
The charity’s organisational structure and any wider network with which the charityworks	Para 1.51	Oldfield Pre-School is run by the trustees who are usually parents of current or past Pre-School children, and by the manager and deputy manager.
Relationship with any related parties	Para 1.51	The Pre-School is linked into the Early Years Alliance and has close links with the Early Years Section of Cheshire West and Chester Council.

	Other		There are systems and procedures in place to minimise risk in all aspects of the Pre-School’s day-to-day running, and to ensure the safety of all concerned. Pre-School risk assessments are carried out on a daily basis, with follow up actions being reviewed on a monthly basis or sooner if deemed necessary eg. Any safeguarding issues are followed up in line with the statutory requirements. A yearly risk assessment of all aspects of the Pre-School is undertaken on an annual basis.

Reference and Administrative details

Charityname	Oldfield Pre-School
Other name the charityuses	N/A
Registered charitynumber	1018094
Charity’s principal address	Oldfield Pre-School, Oldfield Primary School, Green Lane, Vicars Cross, Chester, CH3 5LB

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year
Kate Williams	Chair
JennyDavies	Treasurer
Claire Brewer	Secretary
Clare Clark	Trustee
Nikki Platt	Trustee
Mark Gould	Trustee
Serina Jenkin-Davis	Trustee
Alex Bullen	Trustee	From November 2019

Corporate trustees – names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name	Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity

Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Oldfield Pre-School

1018094

CC16a

Receipts and payments accounts For the period 01/09/2019 To 31/08/2020 from

Section A Receipts and payments

A1 Receipts	Unrestricted funds to the nearest £	Restricted funds to the nearest £	Endowment funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Total funds to the nearest £ 36,531 2,661 748 84,923 8,921 - 3,192 - 10,000 - - 146,976 - - - 146,976 - 60 3,415 315 198 - 938 799 156 471 553 413 1,800 532 415 395 971 68,060 - 79,491 64,439 - 64,439 143,930 3,046	Last year to the nearest £
Donations & Grants inc Gift Aid	-	36,531	-		443
Fundraising	474	2,187	-		2,268
Bank Interest	748	-	-		676
EarlyYears Foundation Stage Grant	84,923	-	-		66,003
Parental Fees	8,921	-	-		15,191
Additional ActivityFees	-	-	-		442
1-1 support	3,192	-	-		-
Miscellaneous	-	-	-		3
Other Income (Covid Small Business Grant)	10,000		-
	-	-	-
	-	-	-		-
*Sub total*(Gross income for AR)	108,258	38,718	-		85,026
	- - - 108,258 - 60.00 3,415.00 315.00 198.00 - 938.00 799.00 156.00 471.00 553.00 413.00 1,800.00 532.00 415.00 395.00 971.00 68,060.00 79,491.00 64,439 - 64,439 143,930 - 35,672 167,885 132,213	1 - - - 38,718 - - - - - - - - - - 38,718 4 38,722
A2 Asset and investment sales, (see table).
	-				-
	-				-
*Sub total*	-				-
*Total receipts* A3 Payments
					85,026

Accountants	-				318
Bank charges	60.00				60
Consumables and Cleaning	3,415.00				4,342
Cost of Fundraisingevents	315.00				314
Expenses	198.00				85
Extra Curricular Pre-school Activites	-				759
Insurance	938.00				940
IT	799.00				287
Memberships	156.00				227
Miscellaneous	471.00				81
Payroll Costs	553.00				533
Phone & Postage	413.00				614
Rent and Rates	1,800.00				1,800
Repairs and Maintenance	532.00				358
Toys,furniture and Equipment	415.00				594
Training	395.00				-
Utilities	971.00				890
Wages Salaries & National Insurance & Pension	68,060.00				63,845
New BuildingProject					947
**Sub total **	79,491.00				76,994

A4 Asset and investment purchases, (see table)
New buildingdeposit	64,439
	-
**Sub total **	64,439				-
CCXX R1 accounts (SS) *Total payments* *Net of receipts/(payments)* A5 Transfers between funds A6 Cash funds last year end *Cash funds this year end*
					76,994

				3,046	8,032
				-	-
				167,889	159,857
				170,935	167,889
					25/05/2021

Section B Statement	of assets and liabilities at	the end of	the end of	the period	the period
		Unrestricted		Restricted			Endowment
Categon<'s	Details	funds			funds			funds
B1Cashfunds	Cal Bank	to neere1t£ 47,002		toneare1t£ 38,722			tonearest£
	VirginBank		85,000
	UnpresentedCheques
	Cash
			211
	*Totalcashfunds*	132,213			38,722
	(agreebalanceswtthreceiptsandpayments
	account(s))
		Unrestricted		Restricted			Endowment
		funds			funds			funds
	Details	tonearest£		to	neare1t£		to	nearest£
B2Othermonetaryassets
B3Investmentassets	~,o_e_t_a_ils_____	I:::'.'::.:;:I Ic.a~pti•~:				I Current value a
B4Assetsretainedforthe	Details Existing Pre-schoolBuilding(Mobile	Fund to which bel asset onas Unrestricted		Cost (optional)			Current value (optional) .
charity'sownuse	Classroom) Furniture, FixturesandFittings	Unrestricted							.
	Computersandother equipment	Unrestricted							.
									.
									.
									.
									.
85Liabilities	Details Access&InclusionGrant	Fund to which liability relates restricted		Amountdue (optional) 4			Whendue (optional)
	Itemsincurred priortoyearendbutpaidin September- replacement doors,expenses,	unrestricted			969
	cleaningproducts.
	Independentexaminerslees18-19and19- 20	unrestricted			650
	GrantfromUrsulaKeyesfor replacement building	restricted			25,000
	GrantfromGarfield Weston for replacementbuilding	restricted			10,000
	Other donationsandfundraisingspecifically forreplacementbuilding	restricted			3,718
	BalanceofmoniesduetoFCHfor building	unrestricted			32,682
					73,023
Signedbyone ortwotrusteeson behalf of allthetrustees	Signature		Print	Name			Dateof
							a	roval
			Claire	Brewer				21-Ma	-21