Charity Registration No. 1020844 Company Registratlon No. 06355391 (England and Wales) COPDOCK & WASHBROOK PRESCHOOL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
COPDOCK & WASHBROOK PRESCHOOL LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs L Butters Mrs T Deakin Mrs A Wilden Secretary Mrs T Deakin Charlty number 1020844 Company number 06355391 Principal address Pheasant Rise Copdock Ipswich Suffolk IP8 3LF Regist•r8d office Pheasant Rise Copdo Ipswich Suffolk IP8 3LF
COPDOCK & WASHBROOK PRESCHOOL CONTENTS Page Trustee5 report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 6-12
COPDOCK & WASHBROOK PRESCHOOL TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 The trustees present their report and financial statements for the year ended 31 August 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document]. the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)° {as amended for accountinq periods cornmencinq from 1 January 2016) Objectives and activities The charity's objects are to provide a rich nurturing environment for young children to grow, develop and reach their full potential. We aim to provide care and education for all children. The charty provides preschool education for 2 to 5 year olds and wrap around care for school aged children. We aim to support families by providing a safe, enjoyable and attractive place to send their children whilst they are at work. The truslees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The setting provides a range of activities which include parenls and friends. These offer fund raising opportunities for the setting and also allow us to raise money to support other good causes. helping children to understand about other children's lives. Achievements and performance This year. as always we have supported many children and families. Providing a safe. nurturing environment where young children can learn and thrive together. Skills, such as getting along with each other, tolerance of olhers and turn taking. learnt at Preschool will help children throughout their lives. We celebrated these achievements with children and their families at our Leavers Presentation in July. We have been updating our garden area, with work on the boundary hedging and trees. This alongside previous safety surfacing and learning areas has greatly improved the outdoor learning environment. Improvements have been made to the kitchen area and in July 2024 we received a 5 Star Food Safety Rating from Babergh District Council.
COPDOCK & WASHBROOK PRESCHOOL TRUSTEES REPORT {CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 Flnan¢lal revlew Nurnbers of Children attending both Ihe Preschool and wrap around care have incre8sed this year, leading lo an increase in income, More children al the Preschool has greatly increased income from Funded Early Educalion. Slaffing costs have also reduced. However, Ihere has been a significant rise in the cost of resources and food. Fees were increased in September 2024. We have received a qrant from Copdock Beer Festival towards the purchase of our new white qoods. The Cornmittee held several events for fun(Jraising throughout the year from a not very well attended Christmas Pop up Shoppinglcheese and Wine night to a Teddy Beais, Picnic and stall at the School Fete. Structure, 9ovgrnance and management The Gharity is a company limited by guarantee governed by its memorandum and arbcles of association dated 29 Augusl 2007. It is registered as a charity with Ihe Charity Commission. The truslees. who are also Ihe directors for Ihe purpose of company law. and who served during the year and up io the date of signature of the financial statements were: Mrs L Butters Mrs T Deakin Mrs A Wilden None of the trustees has any beneficial Inlerest In the company. All of the Iwstees are members of the company and guarantee lo contribute £1 in the event of a winding up. The trustees has assessed the major risks to which the charity is exposed, and are satisfied that syslems are in place to mitigate exposure to the major risks. The tnjstees report was approved by the Board of Trustees. T A Deakln Trusiee Dated..
COPDOCK & WASHBROOK PRESCHOOL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COPDOCK & WASHBROOK PRESCHOOL I report to the trustees on my examination of the financial statements of Copdock & Washbrook Preschool (the charity) lor the year ended 31 August 2024. Responslbllltle8 and b?sls of report As the trustees of the charity (and also its directors for Ihe purposes of company lawl you are responsible lor the preparation of the financial statements in accord3nce with the requirements of the Companies Act 20061Ihe 2006 Acll. Having satisfied myself that the finan¢ial slatements ofthe charity are not required lo be audited under Part 16 01 the 2006 Act and are eligible for independenl examination, I report in respect of my exarninalion of the charity's financial statements carried oul under seclion 145 ofthe Charities Act 2011 Ilhe 2011 Act) In carryin9 oul my examination I have followed all the appltcable Directions given by the Charity Commission 4Jnder section 145(51{b) of the 2011 Acl. lfjdep,pn4ent examlnerfs statement I have corripleled my examination. I confirm thal no matters have come to my attention In connection with the examinalion giving me cause to believe thai in any material respect: a¢couniing records were not kept in respect of the charity as required by section 386 of the 2006 Acl; or the financial statements do not accord wilh ihose iecords,. or the financial slalemenls do not comply with the accounting requirements of section 396 of the 2006 Act olher than any requirement thal the accounts give a true and fair view which is not a matter ¢onsrdered as part of an independent examination; or th¢ finpnGial statements have not been prepared in accordance with the methods and principles of the S.laie.pent of Recommended Practice for accounting and reporting by charities applicable lo charities prpEi?ring th8ir accounts in accordance with the Finan¢RI Reporting Standard applicable in the UK andRepublic of Ireland IFRS 102). I have no ¢oncems and have come across no other matters in connection with the exarnination to which attention should be drawn in this report in order io enable a proper understanding Df the financial statements to be reached. 14 /lAq 702
COPDOCK & WASHBROOK PRESCHOOL STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted funds 2024 Total 2023 Notes Income from: Charitable activities Grants Fees Received After school fees Out of school fees Breakfast club fees Other trading activities Investments 80,706 10.419 17,104 4,643 5,505 740 40.606 12,805 14,335 5.003 3,526 1,683 Total income 119.116 77.958 Ex endlturo on: Charitable activities 101,626 95.606 Net income for the yearl Net movement In funds 17.489 (17,648) Fund balances at 1 September 2023 59,052 83.286 Fund balan8 at 31 August 2024 76,773 59,052 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
COPDOCK & WASHBROOK PRESCHOOL BALANCE SHEET AS AT31 AUGUST2024 2024 2023 Notes Flxed assets Tangible assets Current assets Debiors Cash at bank and in hand 7,075 7,908 11 76,773 59,052 76.773 59.052 Credltors: amounts falllng due wlthln one yoar 12 (720) (1321) Net current assets 83,128 65.639 Total assets less current Ilablllties 83,128 65.639 Income funds Unrestricted funds 83,128 65.639 83,128 65.639 The company Is entitled to Ihe exemption from Ihe audit requirement contained in section 477 of the Companies Acl 20Q6, for the year ended 31 August 2024. No member ol the company has deposited a nots'ce. pursuant to section 476, requiring an audit of these financial statements. The trustees acknowledge their responsibilitles for ensurin9 that the charity keeps accounting records which comply with seclion 386 of the Act and for preparing financial statements which give a true and fair view of the stste of affairs of the company as al the end of the financial year and of its incoming resources and application of resources, including its income and expendbture, for the financial year in accordance wilh the requirements of sections 394 and 395 and which otheiSe comply with the requiremenls of Ihe Companies Acl 2006 relating to fjnanctal statements, so far as applicable to the company. These financial statements have been prepared in accordance wilh the provisions applicable to companies subject to the small companies regime. The accounts were approved by the Trustees on . ..i..g...M.:4 Y..J Mrs L Butters Trustee Mrs T Deakln Trustee Company Reglstratlon No. 06356391
COPDOCK & WASHBROOK PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policles Charity informatlon Copdock & Washbrook Preschool is a private company limited by guarantee incorporated in England and Wales. The registered office is Pheasant Rise. Copdock, Ipswich, Suffolk, IP8 3LF. 1.1 Accounting conventlon The financial statements have been prepared in accordance with the charity's Igoverning document]. the Companies Act 2006 and "Accounting and Reporting by Charities". Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland {FRS 102)° (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to DreDare a Statement of Cash Flows. The financial statements are prepared in sterling. which is the functional currency of the charity. Monetary amounts in these financial ststements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to 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 Unrestricted funds are available for use at the discretion of Ihe trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Incoming resources Income is recognised when the charity is legally entitled to it after any performance conditions have been met, 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 notified of the donation, unless performance Conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Turnover is measured at the fair value of the consideration reiVed or receivable and represents amounts receivab18 for goods and services provided in the normal course of business, net of discounts. VAT and other sales related taxes.
COPDOCK & WASHBROOK PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting pollcles 1.5 Resources expended Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party. it is probable that settlemenl will be required and the amount of the obligation can be measured reliably. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of deprecialion and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Plant and equipment 250A reducing balance The gain or loss arising on the disposal of an asset is determined as the difference betwen the sale proceeds and the carrying value of the asset, and is recognised in net incomel(expenditure} for the year. 1.7 lrnpaimient of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to detennine whether there is any indication that those assets have suffered an impairment loss, If any such indication exists. the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss {rf any). Recoverable amount is the higher of fair value less Gosts to sell and value in use. In assessing value in use, the estimated future cash flov are discounted lo their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flov have not been adjusted. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to Its recoverable amount. An impairment loss is recognised immediaiely in incomel(expenditure for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only rf. the reasons for the impaiment loss have ceased to apply. Where an impairment loss subsequently reverses. the carrying amounl of the asset is increased to the revised estimate of its recoverable amount. but so that the increased carrying amount dS 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 impaimienl10ss is recognised immediately. unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. 1.8 Cash and cash equlvalents Cash and cash equivalenls include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown wrthin borrowings in current liabilities.
COPDOCK & WASHBROOK PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policios 1.9 Financlal instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements. when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liabilitv simultsneouslv. Bas1¢ flnanclal assets Basic 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 the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a Market rate of interest. Financial assets classified as receivable within one year are not amortised. Baslc financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been aGquired 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-current liabilities. Trade creditors are recognised initially at transaction Drice and subseauentlv measured at amortised CDSt tjsino the effective interest method. D•recognition of financial Ilablllties Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Tennination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.11 Rotlrement b•n6flts Payments to defined Gontribution retirement benefit schemes are charged as an expense as they fall due.
COPDOCK & WASHBROOK PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both Current and future Deriods. Other trading activities Unrestricted funds Total 2024 2023 Fundraising events Trading activity income: other 740 1683 Other trading activities 740 1683 Investments Unrostrlcted lunds Total 2024 2023 Interest receivable
COPDOCK & WASHBROOK PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Charitable activities 2024 2023 Staff costs Depreciation and impairment Food & drink Books & consumables Repairs & maintenance Outings Rates, water light & heat Telephone Travel costs Insurance Postage & stationery Course & registration fees Cleaning Sundries Bad Debt Written Off 81.819 2.494 1,382 883 5,690 73.350 650 2.759 351 6,967 3.077 536 2512 411 1,701 2,261 829 1.318 2,872 3.742 579 324 101,626 94,886 Share of governance costs (see note 6) 101.626 94.886 Support costs SupportGovemance costs ¢osts 2024 2023 Data protection & domain name Analysed between Charitable activities Trustees None of the trustees {or any persons connected with them) received any remuneration or benefits from the Gharity during the year. 10-
COPDOCK & WASHBROOK PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Employees Number of employees The average monthly number of employees during the year was: 2024 Number 2023 Number Administration Care staff Employment costs 2024 2023 Wages and salaries Other pension costs 79,065 2,754 72,339 1,800 81,819 74,139 There were no employees whose annual remuneration was £60.000 or more. Tanglble fixed assets Plant and equipment Cost At 1 September 2023 Additions Disposals 10.092 1.661 At 31 August 2024 11.753 Depreciation and Impaimient At 1 September 2023 Depreciation charged in the year Eliminated in respect of disposals 2184 2494 At 31 August 2024 6.678 Carrying amount At 31 August 2024 7.075 At 31 August 2023 7,908 11
COPDOCK & WASHBROOK PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 10 Financlal instruments 2024 2023 Carrying amount of financlal assets Debt instruments measured at amortised cost Carrying amount of financial liabilities Measured at amortised cost 11 Debtors 2024 2023 Amounts falling due wlthin one year: Trade debtors Prepayments and accrued income 12 Creditors: amounts falllng due within one year 2024 2023 Accruals and deferred income 720 1321 13 Related party transactions There were no disclosable related party transactions during the year (2024 - none). 12-