Cliayily Rcgistralion Na. 1020844 Company Reglstratlon No. 06355391 IEngland and Wales) COPDOCK & WASHBROOK PRESCHOOL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
COPDOCK & WASHBROOK PRESCHOOL LEGAL AND ADMINISTRATIVE INFORMATION Trustee$ Mrs L Butlers Mrs T Deakin Mrs A Wilden Secretary Mrs T Deakin Charlty number 1020844 Company number 06355391 Princlpal address Phe8sanl Rise Copdock Ipswich Suffolk IP8 3LF Registered offlce Pheasant Rise Copdock Ipswich Suffolk IP8 3LF
COPDOCK & WASHBROOK PRESCHOOL CONTENTS Page Trustees report Independent examiner's report Slalemenl of financial activities Balance sheet Notes lo the financial stalemonls 6-12
COPDOCK & WASHBROOK PRESCHOOL TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2023 The trustees present their report 2nd financial statements lor the year ended 31 August 2023. The financial slalemenls have been prepared in accordance with the accounting policies sel out in note 1 lo the financial slalements and comply with the charity's Igoverning documentl, the Companies Act 2006 and Accounting 2nd Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended lor accounlinq periods commencinq from 1 January 20161 Objectives and actlvities The charity's objects are lo provlde a rich nurturing environment for young children lo grow. develop and reach their lull polenlial. We aim to provide care and education for a51 children. The charity provides preschool education lor 2 10 5 year olds and wrap around care for sehool aged children. We aim to support families by providing a safe, enjoyable and attractive place lo send their children whilst th&v are al wc)rk. The trustees have paid due regard lo guidance issued by the Charity Commission in deGiding what activities the charity should undertake. The selling provides a range of aclivilies which include parents and friends. These offer fund raising opportunities for the selling and also allow us lo raise money lo support other good cause5, helping children lo understand about other children's lives. Achievements and performance This year, as always we have supported many chilcsren 2nd families Providing a safe, nurturing environment where they can learn, have fun and gel along with others. The skills learnt al Preschool will help children throughout their lives. We have supported children in their Iransilions lo new sellings, either starting at Primary school or sellling al Preschool which is for many Children and families the first lime they have been away from home or family members. Our Preschool has been busy however actual number of Preschool children attending have been lower, resulting in a lower income from funding. Work has been completed on our new safoly surfacing around the climbing frame. This was an enormous project. Removing old safely malting, preparing the area for the new surface and then re-landscaping the garden. 11 has created a fantastic safe space for children of all ages lo use now and in the future.
COPDOCK & WASHBROOK PRESCHOOL TRUSTEES REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2023 Financial review This year we have again experienced a change in our income and expenditure. Income received from grants, including funded chiSdren has decreased significantly. Rising costs and increased staff costs have increased our outgoings. However we have spent money on updating the safely surfacing which has imDacled on the loss. It is the policy of the charity that unrestricted funds which have not beèn designated for a specific use should be maintained al a level equivalent to between six and twelve month's expenditure. The trustees considers that reseives al this level will ensure that, in the event of a significant drop in funding, they will be able lo continue the charitv's current activities while consideration is aiven lo wavs in which additional funds raised. The tru51ees have assessed the major risks lo which the charity is exposed, and are satisfied that systems are in place to mitigate exposure lo the major risks. Our Committee worked hard lo organise fund raisinq events Ihrouqhoul the year. culminatino wllh a joint structure, governance and management The charity is a company limited by guarantee governed by ils memorandum and articles of association dated 29 August 2007. 11 is registered as a charity with the Ch8rily Commission. The Iruslees, who are also the directors for the purpose of company law, and who served during the year and up lo the dale ol signature of the financial slalemenls were.. Mrs L Butlers Mrs T Deakin Mrs A Wilden None of the trustees has any beneficial interest in the company. All of the trustees are members of the ompany and guarantee to contribute £1 in the event of a winding up. The trustees has assessed the major risks lo which the charity is exposec4. and are satisfied that systems are in place lo miligale exposure lo the major risks. The trustees report was approved by the Board ol TTUStees. Mrs T A Deakin Trustee Dated.. i.z.l.8../.2¥
COPDOCK & WASHBROOK PRESCHOOL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COPDOCK & WASHBROOK PRESCHOOL I report lo the Iruslees on my examination of the financial $tatemenls of Copdock & Washbrook Preschool Ilhe charity) for the year ended 31 August 2023. Responsibilities and basis of report As the Iruslees ol the charity land also ils directors for the purposes of company lawl you are responsible for the preparation of the financial slalemenls in accordance with the requirements of the Companies Act 2006 (the 2006 Aotl. Having satisfied myself that the financial slalemenls of the charity are not required lo be audited under Part 16 of the 2008 Act and are eligible for independent examination. I report in respect ol my examinalion of the charity's financial slalemenls carried out under se¢lion 145 of the Charities Act 2011 Ilhe 2011 Acll. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 1451511bl ol the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no mallers have come lo my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 20 Act., or the financial slalemenls do not accord with those records., or the financial slalemenls do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a maller considered as part of an indepèndent examination.. or the financial slalements have not been prepared in accordance with the methods and principles of the Slalement ol Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporling Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other mallers in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the financial slalemenls lo be reached. Dated..
COPDOCK & WASHBROOK PRESCHOOL STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2023 Unrestricted funds 2023 Tol81 2022 Notes Income from: Chaiilable activities Grants Fees Received After school fees Out of school fees Breakfast club fees Other trading activilies Investments 40,606 12.805 14.335 5003 3526 1683 57.586 4.890 7.826 4,145 1,500 409 Total income 77,958 76,35-1 Ex enditure on: Charitable activities 95,606 79,937 Net income for the yearl Nèt movement In funds 117.6481 13.5811 Fund balances al 1 September 2022 83,286 86,867 Fund balances at 31 August 2023 59,052 83,286 The slalement of financial activities includes all gains and losses rècognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements lor an income and expenditure account under the Companies Act 2006.
COPDOCK & WASHBROOK PRESCHOOL BALANCE SHEET AS A T31 AUGUST2023 2023 2022 Notes Fixed assets Tangible assets Currgnt assets Debtors Cash al bank and in hand 7,908 1,920 11 59,052 81,967 59,052 81.967 Creditors: amounts falling due within one year 12 113211 16001 Nel current assets 65,639 83.286 Total asset5 less current liabilitles 65,639 83,286 Income funds Unrestricted funds 65,639 83.286 65,639 83,286 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 Augu51 2023. No member ol the company has deposited a nob'ce, pursuant to section 476. requiring an audit of these financial slalemenls. The Iruslees acknowledge their responsibilities for ensuring that the ch8rily keeps accounting records which comply with section 386 01 the Act and for preparing financial statemènts which give a true and fair view of the slate of affairs of the company as al the end of the financial year and of its incoming resources and application of resources, including ils income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relalinq to financial slalemenls, so far as applicable lo the company. These financial slalemenls have been prepared in accordance with the provisions applicable to companies subject lo the small companies Tegime. The accounts were approved by the Tru51ees on Mrs L Butlers Trustee Mrs T Deakin Trustee Company Registratlon No. 06355391
COPDOCK & WASHBROOK PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting policles Charity information Copdock & Washbrook Preschool is a private company limited by guaranlee incorporated in England and Wales. The registered olliGe is Pheasant Rise, Copdock, Ipswich, Sullolk, IP8 3LF. 1.1 Accounting conventlon The financial slalements have been prepared in a¢Gordance with the charity's Igoverning documenti, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement ol Recomrllended Practice applicable lo eharilies preparing their accounts in accordance with the Financial Reporting Standard 8pplicable in the UK and Republic of Ireland IFRS 1021° las amended for accounting periods commencing from 1 January 20161. The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advan12ge of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not lo Drepare a Stslemenl of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial slalemenls are rounded lo the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation ol freehold properties and lo include investment properties and certain financial instruments al fair value. The principal accounting policies adopted are sel oul below. 1.2 Going concern Al the lime of approving the accounts, the Iruslees have a reasonable expectation that the charity has adequate resources lo continue In operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts. 1.3 Charitable funds Unreslricled funds are available for use at the discretion of the Iruslees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject lo specific conditions by donors as lo how they may be used. The purposes and uses of the reslricled funds are sel out in the notes to the financial slalemenls. Endowment funds are subject lo specific conditions by donors that the capital must be maintained by the charily. 1.4 Incoming resources Income is recognised when the charily is legally enlilled lo il after any porlormance conditions have been mel, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been nolilied of the donation, unless performance conditions require deferral of the amount Income t8X recoverable In relation to donations received under Gift Aid or dèeds of covenant is recognised al the time ol the donation. Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable lor goods and services provided in the normal course of business, nel of discounts, VAT and other sales related taxes.
COPDOCK & WASHBROOK PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Accounting policigs 1.5 Resources gxpgnded Expenditure is recognised once IFiere is a legal or conslruclive obligation lo make a payment lo a third party. il is probable that selllemenl will be required and the amount of the obligation can be measured reliably. 1.6 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequently measured al cost or valuation. net of dèpreciation and any impairment losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Plant and equipment 259/0 reducing balance The gain or Ios5 arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value ol the asset, and is recognised in net incomellexpendilurel for the year. 1.7 Impalrment of fixed as$ets Al each reporting end dale. the charity reviews the carrying amounts of ils tangible assets to determine whether there is any indiealion that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset 18 èslimaled in order lo determine the extent of the impairment loss lif any). Recoverable amount is the higher of fair value less costs lo sell and value in use. In assessing value in use, the eslimaled future cash flows are discounted lo thèir present value using a pre-tax discount rate that reflects current market assessments of the lime value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset is eslimaled lo be less than ils carrying amount, the carrying amount of the a55el is reduced lo ils recoverable amount. An impairment loss is recognised immediately in incomellexpendilure for the year, unless the relevant asset is carried at 8 revalued amount. in which case the impairment loss is Irealed as a revaluation decrease. Recognised impairment losses are reversed if, and only if. the reasons for the impairment loss have ceased lo apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of ils recoverable amount, bul $0 that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset Is earried in al a revalued amount, in which case the reversal ol the imn>irmpntr Ineo io tro1• rtsiJ211 12trinn 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held al call with banks, other short-lerm liquid investments with original maturities of three monlhs or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
COPDOCK & WASHBROOK PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng policies 1.9 Financial instruments The charity has elected lo apply the provlsiuns of Seelion 11 'Basic Financial Inslrumenls, and Section 12 '01her Financial Instruments Issues, ol FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the charity's balance sheet when the charity becomes party lo the contractual provisions of the inslrumenl. Financial assets and liabilities are oflsel, with the nel amounts presented in the financial slalemenls, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention to sellle on a nel basis Dr lo realise the asset and sellle the liabililv simultaneouslv. Basic financial assets Ba5iG financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using tho effective interest method unless the arrangement conslilules a financing transaction, where the Iransaclion is measured al the present value ol the future receipts discounted at a market rale ol interest. Financial assets classified as recewable within one year are not amortised. Basic financial Ilablllties Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement conslilules a financing Iransaclion, where the debt in51rumenl Is measured al the present value of the lulure payments discounted al a market rale of inlereal Financial li8bililies classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortlsed cost, using the ellective interest rate method. Trade creditors are obligations to pay for goods or services that have been a¢quired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less, If not, they are presented as non-currenl liabilities. Trade creditors are recoanised initiallv al transaction Drice and subseouenllv measured al amortised cost usino the effective Derecognltlon of financial liabllitles Financial liabilities arè derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost ol any unused holiday enlitlemenl is recognised ir) the period in which the employee's servlces are received. Tèrmination benefits are recognised immediately ag an expense when the charity is demonstrably commilled lo lerminale the employment of an employee or to provide lemiinalion benefits. 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense a5 they fall
COPDOCK & WASHBROOK PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Critical a¢¢ounting estimates and judgements In the applicalion of the charity's accounting policies, the trustees are required to make judgÈmenls. estimates and assumptions about Ihe carrying amount of assets and liabilities that are not readily apparent from other sources. The eslimales and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these eslimales. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounllng eslimales are recognised in the period in which the estimate is revised where the fevision affects only that period, or in the period of the revision and future oeriods where the revision affects both current and Other trading aetlvltles Unrestricted funds Total 2023 2022 Fundraising events Trading aclivily income.. other 1683 409 Other Iiading activities 1683 409 Investments Unrestricted funds Total 2023 2022 Interest receivable
COPDOCK & WASHBROOK PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2023 Charitable a¢tivitie$ 2023 2022 staff costs Depreciation and impairment Food & drink Books & consumables Repairs & maintenance Outings Rates, water light & heal Telephone Travel costs Insurance Postage & slalionery Course & registration lees Cleaning Sundries Bad Debt Wrillen Off 73,350 650 2759 351 6967 66,595 767 1,147 198 2,592 2511 411 1701 2261 1,718 365 637 1930 172 3.326 311 3742 579 324 94,886 79,757 Share of governance costs (see note 61 180 94,886 79,93'1 Support costs SupportGovernance costs costs 2023 2022 Data protection 8 éomain name 180 180 Analysed between Charitable activities Trustees None of the Iruslees lor any persons connected with them) received any remuneration or benefits from the charity during the year. 10-
COPDOCK & WASHBROOK PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST2023 Employees Number of employees The average monthly number of employees during the year was.. 2023 Number 2022 Number Adminislratioi) Care staff Employment Costs 2023 2022 Wages and salaries Other pension costs 72.339 1800 64,506 504 74,139 65,008 Thère were no employees whose annual remuneration wa5 £80,000 or more. Tangiblg fixed assets Plant and equlpment Cost Al 1 September 2022 Additions Disposals 3,454 6,638 At 31 August 2023 10,092 Depreciatlon and impairment At 1 September 2022 Depreciation charged in the year Eliminated in respect of disposals 1534 650 Al 31 Augus12022 2,184 Carrying amount Al 31 August 2023 7,908 Al 31 August 2022 1,920 11
COPDOCK & WASHBROOK PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 10 Flnancial instruments 2023 2022 Carrying amount of financlal assets Debt instruments measured at amortised cost Carrying amount of financial Ilabilltles Me2sured al amortised cost 11 Debtors 2023 2022 Amounts falling due within one year: Trade debtors Prepayments and accrued income 12 Credltors: amounts falling due withln one year 2023 2022 Accruals and deferred income 1321 600 13 Related party transactions There were no disclosable related party Iran5aclions during the year12023- none). 12