2023-08-31-accounts

Weaverthorpe Pre-School Centre (Registered charity, number 1019457) Financial statements for the year ended 31 August 2023

Page	Contents
2 - 7	Trustees’ annual report
8	Independent examiner’s report
9	Receipts & payments account
10	Statement of assets & liabilities
11 - 12	Notes to the accounts

Weaverthorpe Pre-School Centre Trustees’ annual report for the year ended 31 August 2023

Full name Weaverthorpe Pre-School Centre

Registered charity number 1019457

Principal address

Derwent Crescent, Arnold, Nottingham, NG5 6TA

Trustees

Gemma Yates, from 30/04/23, Chair Nampreet Kandola, Treasurer Sarah Wren, from 16/03/24, Secretary Helen Fell Divya Thomas Polly Booth, from 22/01/24

Samantha Booth, from 15/05/23 Hannah Parrish, until 29/03/24 Lydia Allister, until 07/11/23 Sabrina Akhtar, until 07/11/23 Robert Parrish, until 10/05/23

Independent examiner

John O’Brien, employee of Community Accounting Plus, Units 1 & 2 North West, 41 Talbot Street, Nottingham, NG1 5GL

Governance and management

The charity is operated under the rules of its constitution adopted on 29[th] October 2014 and most recently amended 17[th] November 2020. The administrative change was to reduce the minimum number of committee members from 5 to 3 to ease problems with new parent recruitment.

New trustees are appointed at the Annual General Meeting. Up to three members can be co-opted by the committee in between AGMs, or more by agreement with the Early Years Alliance.

Objectives and activities

The principal objects of the charity are:

To enhance the development and education of children primarily under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups and by:

• (a) Offering appropriate play, education and care facilities, family learning and extended hours groups, together with the right of parents to take responsibility for and to become involved in the activities of such groups, ensuring that such groups offer opportunities for all children whatever their race, culture, religion, means or ability;

• (b) Encouraging the study of the needs of such children and their families and promoting public interest in and recognition of such needs in the local areas;

• (c) Instigating and adhering to and furthering the aims and objects of the Early Years Alliance.

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Weaverthorpe Pre-School Centre

Public benefit statement

The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'.

The service provided is beneficial to the public as it is flexible, affordable and accessible.

It is the setting’s intention to make Weaverthorpe genuinely accessible to children and families from all sections of the local/wider community. Through policies and practices, it is clear that Weaverthorpe welcomes fathers, mothers, other relations and other carers, including child minders, and people from all cultural, ethnic, religious and social groups with or without disabilities. We make our equal opportunities policy widely known.

Summary of the main activities undertaken for the public benefit

Weaverthorpe Pre-School provides term-time sessional day care for children aged 2 - 5 from 9am - 3.30pm Monday to Friday. We offer a breakfast club from 8.30am - 9.00am and an after school club from 3.30pm - 4.15pm. It is a well-respected PreSchool with a waiting list of children that would like a place at the setting in the future. Weaverthorpe provides high quality childcare for the local community and constantly strives to excel in all areas of the Early Years Foundation Stage of the curriculum. The setting achieved a 'Good' Ofsted rating in May 2022.

Weaverthorpe Pre-School is committed to making the setting inclusive and accessible to all children and to ensuring that children are able to reach their full potential. All children have the right to the Early Years Foundation Stage and all staff have a duty to meet the needs of all the children attending the setting. With this ethos in mind, PreSchool continues to support those children with special educational needs by providing additional support and resources as required.

We offer free Government funded hours to eligible 2, 3 and 4 year olds. We sometimes receive additional payments for eligible children - such as Inclusion Funding and EHCP (both special needs) and also Child Protection Plan funding. For parents paying for sessions, we offer flexible payment arrangements. Our fee rates are set to cover our running expenses and to ensure an adequate reserve within the parameters of our reserves policy.

Weaverthorpe Pre-School provides education for children from 2 – 5 years old and adheres to Nottinghamshire County Council’s guidelines and Ofsted’s development matters in the Early Years Foundation Stage (EYFS) and the statutory framework for the Early Years Foundation Stage.

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Weaverthorpe Pre-School Centre

Summary of the main achievements during the period

The Pre-School continues to be well supported by parents and the local community. We have good links with the local Infant and Junior Schools which helps the children with their transition to those schools.

During the period we provided education and care to between 29 and 46 different children on roll. Following children leaving for school in July children numbers started low in September. However, with children joining us throughout the year, by the summer we were close to full. Our staffing levels remained the same with no staff changes. We continue to offer a high staff to child ratio within the setting.

• We held parent evenings. We have an open door policy and parents are encouraged to come in and speak with their child’s key person to discuss their learning and development.

• We encourage Play and Stay sessions for all new starters. Parents stay to meet staff and interact with our programme of learning.

• We invited parents to an information evening to find out more about our PreSchool.

• Following the funeral of Queen Elizabeth II, we presented the children with a commemorative poem and penny coin.

• Christmas festivities began with a craft workshop week for the children, and parents were invited into Pre-School to see all the decorations and our Santa’s workshop. Once again, we were able to go out into the community to the local church to perform our nativity for parents, family and friends.

• Throughout the year, the children enjoy twice weekly PE sessions at the infant school next door.

• We continued with our story book lending library and we regularly borrow books from our local library.

• Sign of the week, and small group sessions with our Language Lead continued to promote speech and language at Weaverthorpe.

• Our children were invited to enter the Young Writer's competition and were excited to see their poems published.

• The children learnt about people who help us and were very excited when we organised for a fire engine to visit us.

• Our show and tell activity restarted with children bringing in items from home linked to our focused Story Book of the Week.

• During spring the children enjoyed looking after caterpillars and were fascinated as they turned into butterflies and were released into our garden.

• At the beginning of May, we celebrated the new King's coronation. The children helped create a coronation chair and were presented with a keepsake medal. The children sent pictures and a card to Buckingham Palace and were thrilled to receive a reply and thank you card.

• A local African author of children's stories visited. It was a fun morning that included storytelling, African dancing, dressing up and African art work.

• We held our summer fair and it was a great success.

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Weaverthorpe Pre-School Centre

All staff attended or undertook a wide variety of training courses including:

• Designated safeguarding lead network

• Prevent duty

• Safeguarding updates for all staff

• Safeguarding children today

• Role of the early years SEND practitioner

• Paediatric first aid training for all staff

• Food hygiene

• Provider network and manager briefings

• Working together to safeguard children

• Transition meetings

• Language lead networks

• SENCO networks

• FGM

• Emotion coaching

• Oral health training

• School ready phonics, mark making and maths

• Continued professional development for all staff ongoing throughout the school year.

• NCC Syngery online portal training, Business and finance training and webinars, committee network meeting.

As a setting we continued to be supported by a number of outside agencies including the Early Years Alliance, Early Years Specialist Teachers from Nottinghamshire County Council, SALT (for speech and language), health visitors and the local Children’s Centres.

This is our 17th year of operating from our current premises. A new lease was signed in 2016 which guarantees our use of the premises until 2024.

Financial review

This year the Pre-School has experienced a difficult financial year and ended with a loss of approx £22,000.

There have been some additional expenses this year, including first aid training for all staff £510 and essential electrical/lighting £903.00.

Despite increasing numbers of children on roll throughout the year, this wasn’t enough to cover staff wages and operating expenses which remain the same. The large increase in national minimum wage also hit us hard.

We are pleased to report that Pre-School continues to hold sufficient funds at the end of the reporting period. The levels in all the reserves accounts have been maintained.

The redundancy reserves fund has been reviewed this year and is still considered adequate.

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Weaverthorpe Pre-School Centre

The charity’s policy on reserves

Weaverthorpe Pre-School has a redundancy provision and it has reserves that would cover the running of the Pre-School for 3 months if necessary.

The committee adopted its reserves policy in November 2016 and it is reviewed annually.

The Reserves Policy states the requirement for reserves for the following purposes:

• a) to ensure the continuation of provision to the children attending the PreSchool, including 3 months working costs - estimated required reserve £35,500;

• b) to cover redundancy payments to staff - estimated required reserve £30,453.47;

• c) to ensure sufficient funds are available for the maintenance/replacement of the building - estimated required reserve - £30,000;

• d) to cover unforeseen additional expenses - estimated required reserve £5,000;

Reserves are to be built up from the unrestricted (earned) income. The level of reserves is to be calculated and monitored every 12 months. The Reserves Policy is to be reviewed yearly and whenever there are significant changes in staff hours or numbers.

At the end of the period the balance of accounts met the requirements of the Reserves Policy.

Funding

Our main source of income is government funding from Nottinghamshire County Council. This includes: 15 hours funding for 3 and 4 year olds (universal entitlement), 15 hours funding for eligible 2 year olds (means tested/linked to qualifying benefits), 30 hours funding for 3 and 4 year olds (extended hours for qualifying working families), Pupil Premium monies and inclusion funding (for special educational needs).

Parent fees and monies from a program of fundraising events make up the remainder of our regular income. The Pre-School applies for and receives grants on an ad hoc basis from local or national funders to meet specific needs such as the replacement of equipment or enhancement of the setting.

Risks

During the school year 2022/2023, we started the year on low numbers, parents had continued to be much more hesitant to take up places due to cost of living crisis. The birth rate in our area has also dropped.

Numbers on the roll for the start of the new academic year 2023/2024 are higher and can hopefully be built up quickly over the year.

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Weaverthorpe Pre-School Centre

The level of government funding for the childcare sector continues to be a big concern. The current rates are considered widely insufficient across the industry. Organisations such as the Early Years Alliance continue to campaign for better funding for early years providers.

Staff costs continue to rise in line with National Minimum Wage increases. Each annual hike is having a significant negative impact on our finances.

We increased our hourly fee rate by 25p this year in order to maintain fair and competitive pricing for local families. So far we have not had to cross-subsidise (charge parents for snacks, materials etc) but we continue to monitor the situation to ensure that the funding we receive is sufficient to meet our running costs.

There are other future considerations that will increase outgoings. Our utility charges continue to be very high. The National Minimum wage increase for April 2024 is 9.8% with April 2025 unconfirmed.

Numbers on the waiting list are lower so will have to be quickly built up during the new school year to increase funding/fees income.

The Covid -19 pandemic and cost of living crisis has affected the settings finances over the last few years. Many pre-schools are closing, or laying off staff, due to the drop in income and insufficient reserves. Weaverthorpe is fortunate that it currently has sufficient reserves built up from previous years.

We only have limited ways that income could be increased. These include building up pupil numbers, extra fundraising, applying a termly/yearly charge for snacks & activity materials and grants. Pre-School will also be looking at ways to minimise outgoings and reduce staffing costs (if over staffed for pupil numbers across the year).

There are no resticted funds and the only designated funds are those listed in the reserves policy.

Signed on behalf of the charity’s trustees:

Signed ______ Date _ Gemma Yates, Trustee

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Independent examiner’s report to the trustees of Weaverthorpe Pre-School Centre for the year ended 31 August 2023

I report to the trustees on my examination of the accounts of Weaverthorpe Pre-School Centre (the charity) for the year ended 31 August 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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 that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the accounts do not accord with those records.

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.

Signed ____ Date _______ John O’Brien MSc, FCCA, FCIE Employee of Community Accounting Plus

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Weaverthorpe Pre-School Centre Receipts & payments account for the year ended 31 August 2023

2022			2023
£		Note	£
	Receipts
124762	Grants & donations	2	99112
2921	Fundraising		2873
8125	Fees		10817
50	Bank interest		962
102	Activity contributions		581
135960	Total receipts		114345
	Payments
295	Activities, garden & trips		202
333	Bank charges		343
1728	Children's books & equipment		1310
314	Computer expenses		-
1288	Consumables		1144
176	DBS checks		-
555	Equipment, repairs & renewals		17
316	Fundraising expenditure		531
648	Independent examination fee		666
1213	Insurance		1249
-	Marketing		160
823	Payroll service		818
2182	Premises maintenance & cleaning		3545
-	Professional fees		192
472	Publications & subscriptions		386
672	Rent & rates		949
649	Staff expenses & uniform		538
378	Staff training & travel		510
89	Sundry payments		17
2421	Telephone, stationery & postage		994
2524	Utilities		1146
123176	Wages, NI & pension		122421
140252	Total payments		137138
(4292)	Net receipts/(payments)		(22793)
134845	Cash funds at start of this period		130553
130553	Cash funds at end of this period		107760

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Weaverthorpe Pre-School Centre Statement of assets and liabilities at 31 August 2023

2022 £ Cash assets Note 130540 Bank accounts 13 Cash in hand 130553 Other monetary assets 1116 Prepayments 3 1116 Assets retained for the charity’s own use Air conditioner purchased July 2022, cost £515. Laptops x 2 purchased April 2021, cost £1,100. Pram shelter purchased June 2017, cost £2,753. General equipment. Liabilities (1820) Creditors 4 - Credit card (10049) Advance receipts - Notts County Council grant (11869)	2023 £ 107730 30
	107760
	729
	729
	(2198) (9) -
	(2207)

These financial statements are accepted on behalf of the charity by:

Signed _____ Dated _____ Nampreet Kandola, Trustee

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Weaverthorpe Pre-School Centre Notes to the accounts for the year ended 31 August 2023

1. Receipts & payments accounts

Receipts and payments accounts contain a summary of money received and money spent during the period and a list of assets and liabilities at the end of the period. Usually, cash received and cash spent will include transactions through bank accounts and cash in hand.

2. Grants & donations

Notts County Council Sundry donations Prepayments Insurance Creditors Equipment Independent examination fee Payroll services Premises Printing Telephone & admin	£ 98704 408
	99112
	£ 708
	708
	£ 1134 738 36 200 49 41
	2198

3. Prepayments

4. Creditors

5. Premises

There is a lease with Nottinghamshire County Council up until 2024 for the premises on a peppercorn rent. This lease was agreed in July 2016.

6. Trustees’ remuneration

During this period, a total of £23,156 was paid to Helen Fell for her role as Manager of the charity.

7. Related party transactions

There were no related party transactions during the period.

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Weaverthorpe Pre-School Centre

8. Glossary of terms

Advance receipts: These are amounts received by the charity in the accounting period, for use in a future period.

Creditors: These are amounts owed by the charity, but not paid during the accounting period.

Prepayments: These are services that the charity has paid for in advance, but not used during the accounting period.

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