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2022-08-31-accounts

Jocks Lane Pavilion Jocks Lane Park Binfield Road Bracknell Berkshire RG12 2BH

Tel: 07534 666 898 EYS 292744 info@binfieldpreschool.net www.binfieldpreschool.net Registered Charity No: 1020270

Binfield Preschool AGM 2022 – 14[th] May 2022 Location: Jocks Lane Time: 3.00pm

Agenda

  1. Apologies for absence

  2. Minutes from previous AGM - Secretary

o Matters arising from the previous minutes

  1. Presentation - Chairman's report

  2. Presentation - Treasurers report

  3. Presentation - Managers report

  4. Presentation - Admin report

  5. A.O.B.

  6. Election of new committee/officers

  7. Date and time of next meeting

o Proposed Date 13[th] May 2023

10. Closing remarks

Current Committee Members Chairperson: Adrian Hone Secretary: Natasha Bunker

Treasurer: Zoe Pullen

General Members: TBC

Admin: TBC

Manager: Emma Hone

Jocks Lane Pavilion Binfield Road Bracknell Berkshire RG12 2BH Tel: 07749 209 424

info@binfieldpreschool.net www.binfieldpreschool.net Registered Charity No: 1020270

Chairman Report – 2022

We have managed to survive Covid and all the issues that it brought all over the country. We remained open and follow all the guidance as outlined by the Government. Although at times we struggled with the sheer weight of stress from Covid the staff have coped amazingly well.

We are now coming out of the other side of the pandemic and we’ve learnt lots of lessons along the way. The staff have become very resilient with everyday issues and have managed to solve small everyday problems very quickly and efficiently.

The staff have been exceptional in supporting the children in setting plus the families away from Preschool. We have kept a good relationship with the parents/carers and children.

We have been continuously supported by our Local Authority and have been there when times have been hard.

We will be looking ahead this year to engage again with the local community and start up our fundraising again which has been amiss the last few years.

We look forward to welcoming more and more children back into Preschool this upcoming year.

Jocks Lane Pavilion Binfield Road Bracknell Berkshire RG12 2BH Tel: 07749 209 424

info@binfieldpreschool.net www.binfieldpreschool.net Registered Charity No: 1020270

Treasurer Report – 2022

A copy of the ‘Financial Statement’ as of 31[st] August 2022 was distributed prior to the AGM. Highlights of this statement as follows:

----- Start of picture text -----
Total Income 2022 £56883 2021 £55787
Total expenditure 2022 £72152 2021 £73841
Excess of income over expenditure 2022 2021 £17636
Current Assets 2022 £17820 2021 £21642
Current Liabilities 2022 £3639 2021
Net Assets 2022 £14181 2021 £21642
----- End of picture text -----

Following on from the previous year we were still recovering from Covid Pandemic which impacted us quite severely. At the start of term, we continued to have a slow uptake of children in accepting places at Preschool and this had an overall impact on our general income.

Fundraising was also hit during the Pandemic as face-to-face meetings made it almost impossible to do any sort of fundraising events.

We continued to cap our daily cohort to 17, which meant staffing was proportionate to the number of children in our care. The above figures did not take into account the last set of funding money from the local authority which impacted the running cost.

We have managed to sustain our existence and look towards thriving as we come out of the Pandemic.

As a preschool there has not been a lot of expenditure outside of the normal, wages and rent.

Charity registration number: 1020270

Binfield Pre-School

Annual Report and Financial Statements for the Year Ended 31 August 2022

Binfield Pre-School

Contents

Reference and Administrative Details 1
Trustees' Report 2
Statement of Trustees' Responsibilities 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 14

Binfield Pre-School

Reference and Administrative Details

Chairman Adrian Hone Secretary Natasha Bunker Treasurer Zoe Pullen Charity Registration Number 1020270 Principal Office Jocks Lane Pavilion Binfield Road Bracknell RG12 2BH Independent Examiner Knights 11 Milbanke Court Milbanke Way Bracknell Berkshire RG12 1RP

Page 1

Binfield Pre-School

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 31 August 2022.

Objectives and activities

Public benefit

The principal activity of the charity was the provision of pre-school education.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Structure, governance and management Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

The annual report was approved by the trustees of the charity on 9 June 2023 and signed on its behalf by:

Adrian Hone

Adrian Hone (Jun 29, 2023 09:31 GMT+1) ......................................... Adrian Hone Chairman

Page 2

Binfield Pre-School

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees of the charity on 9 June 2023 and signed on its behalf by:

Adrian Hone

Adrian Hone (Jun 29, 2023 09:31 GMT+1)......................................... Adrian Hone Chairman

Page 3

Binfield Pre-School

Independent Examiner's Report to the trustees of Binfield Pre-School

I report to the trustees on my examination of the accounts of Binfield Pre-School for the year ended 31 August 2022.

Responsibilities and basis of report

As the charity trustees of Binfield Pre-School 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 Binfield Pre-School'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 material 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 Binfield Pre-School as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.

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.

Terry KnightTerry Knight (Jun 30, 2023 11:46 GMT+1) ...................................... Terence Knight ICAEW

11 Milbanke Court Milbanke Way Bracknell Berkshire RG12 1RP

9 June 2023

Page 4

Binfield Pre-School

Statement of Financial Activities for the Year Ended 31 August 2022

Note
Income and Endowments from:
Donations and legacies
Other trading activities
Other income
Total income
Expenditure on:
Raising funds
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
12
Note
Income and Endowments from:
Donations and legacies
Other trading activities
Total income
Expenditure on:
Raising funds
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
12
Unrestricted
funds
£
56,883
2,713
6,076
65,672
(72,152)
(72,152)
(6,480)
(6,480)
21,642
15,162
Unrestricted
funds
£
54,087
1,700
55,787
(71,255)
(71,255)
(15,468)
(15,468)
39,696
24,228
Total
2022
£
56,883
2,713
6,076
65,672
(72,152)
(72,152)
(6,480)
(6,480)
21,642
15,162
Total
2021
£
54,087
1,700
55,787
(71,255)
(71,255)
(15,468)
(15,468)
39,696
24,228

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 12.

The notes on pages 7 to 14 form an integral part of these financial statements. Page 5

Binfield Pre-School

(Registration number: 1020270) Balance Sheet as at 31 August 2022

Note
Current assets
Debtors
8
Cash at bank and in hand
9
Creditors: Amounts falling due within one year
10
Net assets
Funds of the charity:
Unrestricted income funds
Unrestricted funds
Total funds
12
2022
£
(13,370)
31,190
17,820
(3,639)
14,181
14,181
14,181
2021
£
657
20,985
21,642
-
21,642
21,642
21,642

The financial statements on pages 5 to 14 were approved by the trustees, and authorised for issue on 9 June 2023 and signed on their behalf by:

. ~~..............................~~ Zoe pullen (Jun 30, 2023 11:36 GMT+1) .......... Zoe Pullen Treasurer

The notes on pages 7 to 14 form an integral part of these financial statements. Page 6

Binfield Pre-School

Notes to the Financial Statements for the Year Ended 31 August 2022

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Binfield Pre-School meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Page 7

Binfield Pre-School

Notes to the Financial Statements for the Year Ended 31 August 2022

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Page 8

Binfield Pre-School

Notes to the Financial Statements for the Year Ended 31 August 2022

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 9

Binfield Pre-School

Notes to the Financial Statements for the Year Ended 31 August 2022

Debt instruments

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Page 10

Binfield Pre-School

Notes to the Financial Statements for the Year Ended 31 August 2022

Derivative financial instruments

The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

2 Income from donations and legacies

Grants, including capital grants;
Grants from other charities
Total for 2022
Total for 2021
Unrestricted
funds
General
£
56,883
56,883
54,087
Total
funds
£
56,883
56,883
54,087

3 Income from other trading activities

Events income;
Other events income
Total for 2022
Total for 2021
Unrestricted
funds
General
£
2,713
2,713
1,700
Total
funds
£
2,713
2,713
1,700

4 Other income

Page 11

Binfield Pre-School

Notes to the Financial Statements for the Year Ended 31 August 2022

Fees and supplies
Total for 2022
Unrestricted
funds
General
£
6,076
6,076
Total
funds
£
6,076
6,076

a) Investment management costs

Note
Allocated support costs
Total for 2022
Total for 2021
6
Staff costs
The aggregate payroll costs were as follows:
Staff costs during the year were:
Wages and salaries
Unrestricted
funds
General
£
11,617
11,617
10,420
2022
£
60,535
Total
funds
£
11,617
11,617
10,420
2021
£
60,835

No employee received emoluments of more than £60,000 during the year

Page 12

Binfield Pre-School

Notes to the Financial Statements for the Year Ended 31 August 2022

7 Taxation

The charity is a registered charity and is therefore exempt from taxation.

8 Debtors

Prepayments
Accrued income
9
Cash and cash equivalents
Cash at bank
Short-term deposits
2022
£
813
(14,183)
(13,370)
2022
£
30,579
611
31,190
2021
£
657
-
657
2021
£
20,172
813
20,985

10 Creditors: amounts falling due within one year

10 Creditors: amounts falling due within one year
Other taxation and social security
Other creditors
2022
£
3,368
271
3,639

11 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £Nil (2021 - £Nil).

12 Funds

Unrestricted funds
General
Balance at 1
September
2021
£
21,642
Incoming
resources
£
65,672
Resources
expended
£
(73,133)
Balance at 31
August 2022
£
14,181

Page 13

Binfield Pre-School

Notes to the Financial Statements for the Year Ended 31 August 2022

Balance at 1
September
2020
£
Unrestricted funds
General
39,696
13 Analysis of net assets between funds
Current assets
Current liabilities
Total net assets
Current assets
14 Analysis of net funds
Cash at bank and in hand
Net debt
Net debt
Incoming
resources
£
55,787
Resources
expended
£
(73,841)
Unrestricted
funds
General
£
17,820
(3,639)
14,181
Unrestricted
funds
General
£
21,642
At 1
September
2021
£
20,985
20,985
At 1
September
2020
£
-
Balance at 31
August 2021
£
21,642
Total funds at
31 August
2022
£
17,820
(3,639)
14,181
Total funds at
31 August
2021
£
21,642
At 31 August
2022
£
20,985
20,985
At 31 August
2021
£
-

Page 14

Binfield Pre-School

Statement of Financial Activities by fund for the Year Ended 31 August 2022

Income and Endowments from:
Donations and legacies
Other trading activities
Other income
Total income
Expenditure on:
Raising funds
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Total
Unrestricted
Funds
2022
£
56,883
2,713
6,076
65,672
(72,152)
(72,152)
(6,480)
(6,480)
21,642
15,162
Total
Unrestricted
Funds
2021
£
54,087
1,700
-
55,787
(71,255)
(71,255)
(15,468)
(15,468)
39,696
24,228

This page does not form part of the statutory financial statements. Page 15

Binfield Pre-School

Detailed Statement of Financial Activities for the Year Ended 31 August 2022

Income and Endowments from:
Donations and legacies (analysed below)
Other trading activities (analysed below)
Other income (analysed below)
Total income
Expenditure on:
Raising funds (analysed below)
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Total
2022
£
56,883
2,713
6,076
65,672
(72,152)
(72,152)
(6,480)
(6,480)
21,642
15,162
Total
2021
£
54,087
1,700
-
55,787
(71,255)
(71,255)
(15,468)
(15,468)
39,696
24,228

This page does not form part of the statutory financial statements. Page 16

Binfield Pre-School

Detailed Statement of Financial Activities for the Year Ended 31 August 2022

Donations and legacies
Grants - other agencies
Sponsorship and other income
Other trading activities
Fundraising income
Other income
Fees receivable
Raising funds
Wages and salaries
Staff training
Food and drink
Rent
Insurance
Equipment repairs and renewals
Printing, postage and stationery
Trade subscriptions
Sundry expenses
Advertising
Accountancy fees
Bank charges
Total
2022
£
56,883
-
56,883
2,713
2,713
6,076
6,076
(60,535)
(104)
(310)
(7,230)
(1,605)
(885)
(194)
-
(499)
(330)
(420)
(40)
(72,152)
Total
2021
£
53,517
570
54,087
1,700
1,700
-
-
(60,835)
(1,372)
(350)
(4,981)
(1,541)
(781)
(138)
(50)
(787)
-
(420)
-
(71,255)

This page does not form part of the statutory financial statements. Page 17

Binfield Pre-School 2022 accounts for signature

Final Audit Report 2023-06-30

Created: 2023-06-28 By: Terry Knight (terry.knight@knightsascot.com) Status: Signed Transaction ID: CBJCHBCAABAA8wt5wQwOjWecDtMImBMQh0EdR0b4ICAL

"Binfield Pre-School 2022 accounts for signature" History

Document created by Terry Knight (terry.knight@knightsascot.com) 2023-06-28 - 1:00:42 PM GMT

Document emailed to chair@binfieldpreschool.net for signature

2023-06-28 - 1:01:38 PM GMT

Email viewed by chair@binfieldpreschool.net

2023-06-29 - 8:30:31 AM GMT

Document e-signed by Adrian Hone (chair@binfieldpreschool.net) Signature Date: 2023-06-29 - 8:31:06 AM GMT - Time Source: server

Document emailed to zoe.lapworth@hotmail.co.uk for signature 2023-06-29 - 8:31:07 AM GMT

Email viewed by zoe.lapworth@hotmail.co.uk 2023-06-30 - 10:33:34 AM GMT

Document e-signed by Zoe pullen (zoe.lapworth@hotmail.co.uk) Signature Date: 2023-06-30 - 10:36:29 AM GMT - Time Source: server

Document emailed to Terry Knight (ascot.knight@gmail.com) for signature 2023-06-30 - 10:36:30 AM GMT

Email viewed by Terry Knight (ascot.knight@gmail.com) 2023-06-30 - 10:46:23 AM GMT

Document e-signed by Terry Knight (ascot.knight@gmail.com) Signature Date: 2023-06-30 - 10:46:56 AM GMT - Time Source: server

Agreement completed.

2023-06-30 - 10:46:56 AM GMT

Charity registration number: 1020270

Binfield Pre-School

Annual Report and Financial Statements for the Year Ended 31 August 2022

Binfield Pre-School

Contents

Reference and Administrative Details 1
Trustees' Report 2
Statement of Trustees' Responsibilities 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 14

Binfield Pre-School

Reference and Administrative Details

Chairman Adrian Hone Secretary Natasha Bunker Treasurer Zoe Pullen Charity Registration Number 1020270 Principal Office Jocks Lane Pavilion Binfield Road Bracknell RG12 2BH Independent Examiner Knights 11 Milbanke Court Milbanke Way Bracknell Berkshire RG12 1RP

Page 1

Binfield Pre-School

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 31 August 2022.

Objectives and activities

Public benefit

The principal activity of the charity was the provision of pre-school education.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Structure, governance and management Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

The annual report was approved by the trustees of the charity on 9 June 2023 and signed on its behalf by:

Adrian Hone

Adrian Hone (Jun 29, 2023 09:31 GMT+1) ......................................... Adrian Hone Chairman

Page 2

Binfield Pre-School

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees of the charity on 9 June 2023 and signed on its behalf by:

Adrian Hone

Adrian Hone (Jun 29, 2023 09:31 GMT+1)......................................... Adrian Hone Chairman

Page 3

Binfield Pre-School

Independent Examiner's Report to the trustees of Binfield Pre-School

I report to the trustees on my examination of the accounts of Binfield Pre-School for the year ended 31 August 2022.

Responsibilities and basis of report

As the charity trustees of Binfield Pre-School 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 Binfield Pre-School'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 material 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 Binfield Pre-School as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.

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.

Terry KnightTerry Knight (Jun 30, 2023 11:46 GMT+1) ...................................... Terence Knight ICAEW

11 Milbanke Court Milbanke Way Bracknell Berkshire RG12 1RP

9 June 2023

Page 4

Binfield Pre-School

Statement of Financial Activities for the Year Ended 31 August 2022

Note
Income and Endowments from:
Donations and legacies
Other trading activities
Other income
Total income
Expenditure on:
Raising funds
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
12
Note
Income and Endowments from:
Donations and legacies
Other trading activities
Total income
Expenditure on:
Raising funds
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
12
Unrestricted
funds
£
56,883
2,713
6,076
65,672
(72,152)
(72,152)
(6,480)
(6,480)
21,642
15,162
Unrestricted
funds
£
54,087
1,700
55,787
(71,255)
(71,255)
(15,468)
(15,468)
39,696
24,228
Total
2022
£
56,883
2,713
6,076
65,672
(72,152)
(72,152)
(6,480)
(6,480)
21,642
15,162
Total
2021
£
54,087
1,700
55,787
(71,255)
(71,255)
(15,468)
(15,468)
39,696
24,228

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 12.

The notes on pages 7 to 14 form an integral part of these financial statements. Page 5

Binfield Pre-School

(Registration number: 1020270) Balance Sheet as at 31 August 2022

Note
Current assets
Debtors
8
Cash at bank and in hand
9
Creditors: Amounts falling due within one year
10
Net assets
Funds of the charity:
Unrestricted income funds
Unrestricted funds
Total funds
12
2022
£
(13,370)
31,190
17,820
(3,639)
14,181
14,181
14,181
2021
£
657
20,985
21,642
-
21,642
21,642
21,642

The financial statements on pages 5 to 14 were approved by the trustees, and authorised for issue on 9 June 2023 and signed on their behalf by:

. ~~..............................~~ Zoe pullen (Jun 30, 2023 11:36 GMT+1) .......... Zoe Pullen Treasurer

The notes on pages 7 to 14 form an integral part of these financial statements. Page 6

Binfield Pre-School

Notes to the Financial Statements for the Year Ended 31 August 2022

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Binfield Pre-School meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Page 7

Binfield Pre-School

Notes to the Financial Statements for the Year Ended 31 August 2022

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Page 8

Binfield Pre-School

Notes to the Financial Statements for the Year Ended 31 August 2022

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 9

Binfield Pre-School

Notes to the Financial Statements for the Year Ended 31 August 2022

Debt instruments

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Page 10

Binfield Pre-School

Notes to the Financial Statements for the Year Ended 31 August 2022

Derivative financial instruments

The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

2 Income from donations and legacies

Grants, including capital grants;
Grants from other charities
Total for 2022
Total for 2021
Unrestricted
funds
General
£
56,883
56,883
54,087
Total
funds
£
56,883
56,883
54,087

3 Income from other trading activities

Events income;
Other events income
Total for 2022
Total for 2021
Unrestricted
funds
General
£
2,713
2,713
1,700
Total
funds
£
2,713
2,713
1,700

4 Other income

Page 11

Binfield Pre-School

Notes to the Financial Statements for the Year Ended 31 August 2022

Fees and supplies
Total for 2022
Unrestricted
funds
General
£
6,076
6,076
Total
funds
£
6,076
6,076

a) Investment management costs

Note
Allocated support costs
Total for 2022
Total for 2021
6
Staff costs
The aggregate payroll costs were as follows:
Staff costs during the year were:
Wages and salaries
Unrestricted
funds
General
£
11,617
11,617
10,420
2022
£
60,535
Total
funds
£
11,617
11,617
10,420
2021
£
60,835

No employee received emoluments of more than £60,000 during the year

Page 12

Binfield Pre-School

Notes to the Financial Statements for the Year Ended 31 August 2022

7 Taxation

The charity is a registered charity and is therefore exempt from taxation.

8 Debtors

Prepayments
Accrued income
9
Cash and cash equivalents
Cash at bank
Short-term deposits
2022
£
813
(14,183)
(13,370)
2022
£
30,579
611
31,190
2021
£
657
-
657
2021
£
20,172
813
20,985

10 Creditors: amounts falling due within one year

10 Creditors: amounts falling due within one year
Other taxation and social security
Other creditors
2022
£
3,368
271
3,639

11 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £Nil (2021 - £Nil).

12 Funds

Unrestricted funds
General
Balance at 1
September
2021
£
21,642
Incoming
resources
£
65,672
Resources
expended
£
(73,133)
Balance at 31
August 2022
£
14,181

Page 13

Binfield Pre-School

Notes to the Financial Statements for the Year Ended 31 August 2022

Balance at 1
September
2020
£
Unrestricted funds
General
39,696
13 Analysis of net assets between funds
Current assets
Current liabilities
Total net assets
Current assets
14 Analysis of net funds
Cash at bank and in hand
Net debt
Net debt
Incoming
resources
£
55,787
Resources
expended
£
(73,841)
Unrestricted
funds
General
£
17,820
(3,639)
14,181
Unrestricted
funds
General
£
21,642
At 1
September
2021
£
20,985
20,985
At 1
September
2020
£
-
Balance at 31
August 2021
£
21,642
Total funds at
31 August
2022
£
17,820
(3,639)
14,181
Total funds at
31 August
2021
£
21,642
At 31 August
2022
£
20,985
20,985
At 31 August
2021
£
-

Page 14

Binfield Pre-School

Statement of Financial Activities by fund for the Year Ended 31 August 2022

Income and Endowments from:
Donations and legacies
Other trading activities
Other income
Total income
Expenditure on:
Raising funds
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Total
Unrestricted
Funds
2022
£
56,883
2,713
6,076
65,672
(72,152)
(72,152)
(6,480)
(6,480)
21,642
15,162
Total
Unrestricted
Funds
2021
£
54,087
1,700
-
55,787
(71,255)
(71,255)
(15,468)
(15,468)
39,696
24,228

This page does not form part of the statutory financial statements. Page 15

Binfield Pre-School

Detailed Statement of Financial Activities for the Year Ended 31 August 2022

Income and Endowments from:
Donations and legacies (analysed below)
Other trading activities (analysed below)
Other income (analysed below)
Total income
Expenditure on:
Raising funds (analysed below)
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Total
2022
£
56,883
2,713
6,076
65,672
(72,152)
(72,152)
(6,480)
(6,480)
21,642
15,162
Total
2021
£
54,087
1,700
-
55,787
(71,255)
(71,255)
(15,468)
(15,468)
39,696
24,228

This page does not form part of the statutory financial statements. Page 16

Binfield Pre-School

Detailed Statement of Financial Activities for the Year Ended 31 August 2022

Donations and legacies
Grants - other agencies
Sponsorship and other income
Other trading activities
Fundraising income
Other income
Fees receivable
Raising funds
Wages and salaries
Staff training
Food and drink
Rent
Insurance
Equipment repairs and renewals
Printing, postage and stationery
Trade subscriptions
Sundry expenses
Advertising
Accountancy fees
Bank charges
Total
2022
£
56,883
-
56,883
2,713
2,713
6,076
6,076
(60,535)
(104)
(310)
(7,230)
(1,605)
(885)
(194)
-
(499)
(330)
(420)
(40)
(72,152)
Total
2021
£
53,517
570
54,087
1,700
1,700
-
-
(60,835)
(1,372)
(350)
(4,981)
(1,541)
(781)
(138)
(50)
(787)
-
(420)
-
(71,255)

This page does not form part of the statutory financial statements. Page 17

Binfield Pre-School 2022 accounts for signature

Final Audit Report 2023-06-30

Created: 2023-06-28 By: Terry Knight (terry.knight@knightsascot.com) Status: Signed Transaction ID: CBJCHBCAABAA8wt5wQwOjWecDtMImBMQh0EdR0b4ICAL

"Binfield Pre-School 2022 accounts for signature" History

Document created by Terry Knight (terry.knight@knightsascot.com) 2023-06-28 - 1:00:42 PM GMT

Document emailed to chair@binfieldpreschool.net for signature

2023-06-28 - 1:01:38 PM GMT

Email viewed by chair@binfieldpreschool.net

2023-06-29 - 8:30:31 AM GMT

Document e-signed by Adrian Hone (chair@binfieldpreschool.net) Signature Date: 2023-06-29 - 8:31:06 AM GMT - Time Source: server

Document emailed to zoe.lapworth@hotmail.co.uk for signature 2023-06-29 - 8:31:07 AM GMT

Email viewed by zoe.lapworth@hotmail.co.uk 2023-06-30 - 10:33:34 AM GMT

Document e-signed by Zoe pullen (zoe.lapworth@hotmail.co.uk) Signature Date: 2023-06-30 - 10:36:29 AM GMT - Time Source: server

Document emailed to Terry Knight (ascot.knight@gmail.com) for signature 2023-06-30 - 10:36:30 AM GMT

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Document e-signed by Terry Knight (ascot.knight@gmail.com) Signature Date: 2023-06-30 - 10:46:56 AM GMT - Time Source: server

Agreement completed.

2023-06-30 - 10:46:56 AM GMT