Charity registration number: 1023074
Abbotsham and Alwington Pre-School
Annual Report and Financial Statements
for the year ended 31 July 2023
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ABBOTSHAM AND ALWINGTON PRE-SCHOOL CONTENTS
| Reference and Administrative Details | 1 |
|---|---|
| Trustees’ Report | 2to6 |
| IndependentExaminer's Report | v |
| Statement ofFinancial Activities | 8to9 |
| Balance Sheet | 10 |
| NotestotheFinancialStatements | 11to22 |
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ABBOTSHAM AND ALWINGTON PRE-SCHOOL REFERENCE AND ADMINISTRATIVE DETAILS
Chair Jemma Willoughby Vice Chair Charlotte Seymour Secretary Nicole Brown Trustees Kirsty Flear Maria Dark Lisamarie Davey, (resigned 17 October 2022) Holly Leigh
Janita Barlow Jessica Hockridge, (resigned 17 October 2022) Charlotte Westlake Claire Pennington Shannon Smith Smith Toby Vanstone Vanstone
a e Shannon Smith Smith Yd : Toby Vanstone Vanstone LU a 5 2 Z8 Charity Registration Number — 1023074 ! << 1G - Principal Office The Old School Room & Majors Office E Abbotsham = BIDEFORD ° Devon EX39 5AP
Accountant
Glover Stanbury 27 Bridgeland Street BIDEFORD Devon EX39 2PZ
Page 1
» by Ofsted. ri =ez 52D Objectives and activities a z 9fe}< Objects. and aims. —'©2 To enhance the OW ti children to make new ®& environment. OFF
ABBOTSHAM AND ALWINGTON PRE-SCHOOL
TRUSTEES' REPORT
The trustees present the annual report together with the financial statements of the charity for the year ended 31 July 2023.
Structure, governance and management
Nature of governing document
Abbotsham and Alwington Pre-School was established over 30 years ago, being governed by a Constitution. We are non-profit making, registered with Ofsted to take 26 children per session. We currently have a team of6 staff and hold sessions in the Old School Rooms and the Major’s Office in Abbotsham (Located in front of the Church).
Recruitment and appointment of trustees
The Charity advertises locally for new Trustees, mainly apealing to current parents and carers and those who have registered their interest for children to attend the Pre-School. Interested parties are invited to attend a meeting to see what is involved.
All Trustees are proposed and seconded by attendees at the AGM.
All proposed Trustees are subject to the legally required checks made upon them and are approved by Ofsted.
To enhance the development and education of children under statutory school age by encouraging children to make new friends, explore, discover and learn through play in a safe and secure environment.
The charity enables children aged 3-5 years old to learn in an exciting and engaging environment, with activities designed to motivate and inspire, and be fun!
We follow the Early Years Foundation Stage (EYFS) and believe strongly that children of pre-school age learn best through stimulating and varied play activities.
Public benefit
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.
Page 2
ABBOTSHAM AND ALWINGTON PRE-SCHOOL
TRUSTEES' REPORT
Achievements and performance
We started the year (Sept 2022) with 32 on register which was particularly busy for us. This is because we didn’t have as many leavers the year before. Only 20 left the previous year.
We ended the year in July 2023 with 41 on register.
32 children left us in July 2023 to start primary school. Children went to St Helen’s, St Mary’s, East the Water, Woolsery and St George’s.
For our leavers ceremony this year we had Really Wild in with some really cool animals. The children loved it and the majority were brave enough to have a snake around their neck! This was followed by a ceremony to present the children with their folders and say goodbye. I am hoping all of the parents could see the children! It was a lovely day; the sun was shining and the children were so brave.
We learnt the leavers songs and signs throughout the year in preparation for the leavers ceremony - Three Little Birds and Go Tell It On The Mountain. Plus, they sang their favourite song which was The Goldfish Song and Jelly On A Plate.
a e The staff had some lovely leaving presents, so thank you to all who gave us something, it was much Y 5é appreciated. We also were given some Thatched Inn vouchers and we all managed to enjoy two = =Z.9 trips during the summer holidays!
aa < 0 We issued 3 tickets per family for the Nativity. It was great especially with the addition of a bit of OW«£ Dolly Parton (Go Tell It On The Mountain). The children were so brave. This year we will do it a ” a little differently and spend some extra time in the hall before we perform so as the children (and © | staff) are a little more comfortable.
Our Christmas party was also a hit, Magic Martin came to visit and performed some magic tricks and then the lovely Father Christmas aka Phil Stone came and gave presents to all of the children! We also did party games and had party food.
We have now had a full year with our amazing cabin. It has been brilliant and the children love it. It currently has the children’s gym in there plus construction and the fibre optic lights and light tunnel. The addition of blackout blinds is great for chill out time and for music and light experiences.
Sports day was yet again a lovely day with perfect weather, this was followed by the silent auction which was well supported. We also did 3 bingo nights all of which were great fun with some lovely prizes. We did our annual mini marathon, which raised £1,096. Fundraising was great last year, so thank you to all for helping to organise and those who donated. We bought some lovely new toys - puzzles, books, water play equipment, dolls house toys, remote control cars, a garage and some more of the very popular magnetic shapes.
Page 3
ABBOTSHAM AND ALWINGTON PRE-SCHOOL
TRUSTEES' REPORT
Planning included seasons of the year, animals, Makaton, all about me, Christmas, new life, holidays, to name a few! As well as the individualised learning which is tailored to each child. Plus, we ensured that the children’s interests are included like farming, baking, space, Bluey... the list goes on! We celebrated the King’s coronation with a party for all of the children - we had a great day.
We have continued to do our training online due to such a lack of in person training being offered by Babcock locally, plus, we have found we are getting far more ideas by doing the online training. We continued our maths training with Karen Wilding, in particular getting subitising ideas. We completed some government training modules which were a good reminder for us all. Julien Grenier who rewrote the EYFS also did some training which was good. Other training included some early speech and language training and 3 provider network meetings via zoom.
We held a coffee morning in May, for new families and it was well attended, we opened from 9.30 - 12. It was nice to have committee members there to help drum up new members.
Thank you as always to all of the staff for their hard work and particularly for all doing extra hours when needed. You all stepped up, so thank you.
Thank you to all of the committee members in particular the ones that are leaving us after being Y = 4 with us for so many years, it really is the end of an era! LU mM 5 4 Ogs Financial review | Ow a Policy on reserves - The policy is to have 6 months running costs in reserves to include staff wages, this is currently in ee:OS the region. of. £65,000. « . . ated . . .
Principal funding sources
Principle funding is from EYFS and fundraising for purchases to enhance the children’s time in the setting.
Additional expenditure enables us to update and source new equipment for use with children: i.e. sensory equipment and learning material.
We ensure all staff attend regular training which is paid for from EYFS and fundraising.
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.
Page 4
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and a e future developments, the charity uses a mixture of bank current accounts and bank savings eto < accounts. LU a 5 Further details regarding liquidity risk can be found in the Statement of accounting policies in the = Z° financial statements. O << Iho Ons & = OFF
ABBOTSHAM AND ALWINGTON PRE-SCHOOL
TRUSTEES' REPORT
Cash flow risk
The charity manages its cash flow risk by its policy to keep cash reserves level of 6 months running costs.
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
Page 5
ABBOTSHAM AND ALWINGTON PRE-SCHOOL
TRUSTEES' REPORT
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:
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¢ select suitable accounting policies and then apply them consistently;
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¢@ observe the methods and principles in the Charities SORP;
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¢ make judgements and estimates that are reasonable and prudent;
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¢ state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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¢ prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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 faa = <7 a statements comply with" the Charitiesoe Act 2011, the Charitiessae (Accounts and Reports) Regulations. LU 945 ©2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the eZ S assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud 0 < < and other irregularities. OW Ww The trustees are responsible for the maintenance and integrity of the corporate and financial W” a information included on the charitable company's website. Legislation governing the preparation 5 and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on 18 October 2023 and signed on its behalf by:
Charlotte Seymour Nicole Brown Vice Chair Secretary
Page 6
ABBOTSHAM AND ALWINGTON PRE-SCHOOL
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ABBOTSHAM AND ALWINGTON PRE-SCHOOL
I report to the trustees on my examination of the accounts of Abbotsham and Alwington Pre-School for the year ended 31 July 2023.
Responsibilities and basis of report
As the charity trustees of Abbotsham and Alwington 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 Abbotsham and Alwington 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:
-
accounting records were not kept in respect of Abbotsham and Alwington Pre-School as required by section 130 of the Act; or
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2 2. the accounts do not accord with those records; or
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Y = 4 3. the accounts do not comply with the accounting requirements concerning the form and content LU 7 3 of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any FZ S requirement that the accounts give a ‘true and fair view' which is not a matter considered as 0 < “ part of an independent examination.
ee:& Iwhichhave attentionno concernsshouldandbehave drawncomeinacrossthis reportno otherin ordermattersto inenableconnectiona properwithunderstandingthe examinationof theto ° accounts to be reached.
K Toms BSc (Hons) FCA Institue of Chartered Accountants in England and Wales (ICAEW)
27 Bridgeland Street
BIDEFORD
Devon EX39 2PZ
19 October 2023
Page 7
ABBOTSHAM AND ALWINGTON PRE-SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023
| Unrestricted — Restricted | Unrestricted — Restricted | Total | ||||
|---|---|---|---|---|---|---|
| funds | funds | 2023 | ||||
| Note | £ | £ | ES | |||
| Incomeand Endowments from: | ||||||
| Donations and legacies | 7,471 | 3.426 | 10,897 | |||
| Charitable activities | 114,439 | - | 114,439 | |||
| Investment income | 4 | 219 | - | 219 | ||
| Total income | 122,129 | 3,426 | 125,555 | |||
| Expenditureon: | ||||||
| Raising funds | (396) | - | (396) | |||
| Charitable activities | (112.274) | (1.159) | (113.433) | |||
| Otherexpenditure | 7 | (309) | (17,450) | (17,759) | ||
| Total expenditure | (112,979) | (18,609) | (131,588) | |||
| Net income/(expenditure) | 9,150 | (15,183) | (6,033) | |||
| Gross transfers between funds | (11,765) | 11,765 | - | |||
| a: ws5< Lu=5 =>O g |
Netmovement infunds Reconciliationoffunds Total fundsbroughtforward |
(2,615) 88,826 |
(3,418) 3,956 |
(6,033) 92,782 |
||
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Totalfundscarriedforward | 20 | 86,211 | 538 |
| - | ||||||
| : | ||||||
| OF |
Page 8
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ABBOTSHAM AND ALWINGTON PRE-SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023
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||||||||
|---|---|---|---|---|---|---|
|Unrestricted|—_ Restricted|Total|
|funds|funds|2022|
|Note|£|E|£|
|Income and|Endowments|from:|
|Donations|and|legacies|2,590|3,956|6,546|
|Charitable|activities|95,108|-|95,108|
|Investment|income|4|5|-|5|
|Total|income|97,703|3,956|101,659|
|Expenditure on:|
|Charitable activities|(104.657)|-|(104.657)|
|Other expenditure|7|(219)|-|(219)|
|Total|expenditure|(104,876)|-|(104,876)|
|Net|(expenditure )/income|(7,173)|3,956|(3,217)|
|Net movement|in|funds|(7,173)|3,956|(3,217)|
|Reconciliation of funds|
|Total funds brought forward|95,999|-|95,999|
|Total funds carried forward|20|88,826|3,956|92,782|
|OE|
|All of the charity's|activities derive from continuing operations during the above two periods.|
|The funds|breakdown|for 2022|is shown|in|note|20.|
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Page 9
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ABBOTSHAM AND ALWINGTON PRE-SCHOOL (REGISTRATION NUMBER: 1023074)
BALANCE SHEET AS AT 31 JULY 2023
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||||||||
|---|---|---|---|---|---|---|
|2023|2022|
|Note|£|£|
|Fixed|assets|
|Tangible|assets|14|2,563|2.155|
|Current|assets|
|Debtors|15|45|883|
|Cash at bank and in hand|16|86,604|90,642|
|86,649|91,525|
|Creditors:|Amounts|falling|due within one year|17|(2,463)|(898)|
|Net|current|assets|84,186|90,627|
|Net|assets|86,749|92,782|
|Funds|of the charity:|
|Restricted|income|funds|
|Restricted|funds|538|3,956|
|Unrestricted income funds|
|Unrestricted funds|—|86,211ert.|88,826Oe|OeN|
|Total funds|20|86,749|92,782|
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<The financial statements on pages 8 to 22 were approved by the trustees, and authorised for issue on ° 18 October 2023 and signed on their behalf by:
Charlotte Seymour Vice Chair
Nicole Brown Secretary
Page 10
yo Voluntary income including donations, gifts, legacies and grants that provide core funding or are of (vz general nature is recognised when the charity has entitlement to the income, it is probable that the sa “ income will be received and the amount can be measured with sufficient reliability. LU a 5 8 Donations and legacies a fe)< . , —t+ © Donations and legacies are recognised on a receivable basis when receipt is probable and the OW ti amount can be reliably measured. ) 3 Gift aid
ABBOTSHAM AND ALWINGTON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
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
Abbotsham and Alwington 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.
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
Incoming resources from tax reclaims are included in the Statement of Financial Activities at the same time as the gift to which they relate.
Investment income
Interest is recognised once the interest has been received.
Page 11
ABBOTSHAM AND ALWINGTON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
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.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs consistent with the use of resources, for example, allocating property costs by floor areas, or per ri> =,fad[-] 92DZ Capita,Support. staff costs5, costs include by the central time. functions spent and and other have been costs by allocated their. usage. to activity cost categories on a basis Og —}-o Governance costs O Ot These include the costs attributable to the charity’s compliance with constitutional and statutory | 5 re quirements,imbursed expenses.including independent examination, strategic management and trustees meetings and
Tangible fixed assets
Individual fixed assets costing £100.00 or more are initially recorded at cost.
Page 12
ABBOTSHAM AND ALWINGTON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Property improvements 1009Otee depmotanereciation in yeye a r of purchase Plant and machinery 25% straight line basis Fixtures and fittings 10% straight line basis
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 Y = < Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly LU m 3 liquid investments that are readily convertible to a known amount of cash and are subject to an —_a < ZY Q< __ insignificant° risk of change in value. Owe Trade creditors ie Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary < course of business from suppliers. Accounts payable are classified as current liabilities if the ° Charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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.
Page 13
ABBOTSHAM AND ALWINGTON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Pensions and other post retirement obligations
The charity contributes to a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
a Ww)[©] Financial. . assets and financialoe . liabilities. *qeue are recognised. when the charity. becomes a party to the rs “ contractual provisions of the instrument. > M2 Financial liabilities and equity instruments are classified according to the substance of the O a g contractual arrangements entered into. An equity instrument is any contract that evidences a residual _I < a interest in the assets of the charity after deducting all of its liabilities. Owe & Recognition and measurement < 5 All financial assets and liabilities are initially measured at transaction price (including transaction
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 14
y (d) There is no contractual provision that could, by its terms, result in the holder losing the - (a4 Z principal amount or any interest attributable to the current period or prior periods. = am =, fe (e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to Og put it back to the issuer before maturity are not contingent on future events, other than to protect the —'+9 holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect OW ti the holder or issuer against changes in levies applied by a central bank or arising from changes in & relevant taxation or law. OFF
ABBOTSHAM AND ALWINGTON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
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).
(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.
Page 15
ABBOTSHAM AND ALWINGTON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
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
| Unrestricted | ||||||
|---|---|---|---|---|---|---|
| funds General |
Restricted funds |
Total funds |
||||
| £ | £ | £ | ||||
| Donations and legacies; | ||||||
| Donations tomajor appeals | . | 3,426 | 3,426 | |||
| Donations from individuals | 2,819 | - | 2,819 | |||
| > e |
Otherincomefromdonations andlegacies | 4,652 a |
- 4,652 _ |
|||
| aSZ Lu = >=,fe OR ro OW« |
Total for2023 Totalfor2022 3 INCOMEFROMCHARITABLE ACTIVITIES |
7.471 OO 2,590 — |
— | 3.426 3,956 |
__10,897 a 6,546 |
|
| = | ||||||
| < OF |
Unrestricted funds |
Total | ||||
| General | funds | |||||
| pa | z | |||||
| Runningofthe pre-school | 114,439 | 114,439 | ||||
| Total for2023 | 114,439 | 114,439 | ||||
| Total for2022 | 95,108 | 95,108 | ||||
| 4 INVESTMENT INCOME | ||||||
| Unrestricted | ||||||
| funds | Total | |||||
| General | funds | |||||
| £ | £ | |||||
| Interest receivable and similar income; | ||||||
| Interest receivable onbank deposits | 219 | 219 | ||||
| Total for2023 | 219 | 219 | ||||
| Totalfor2022 | 5 | 5 |
Page 16
ABBOTSHAM AND ALWINGTON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
5 EXPENDITURE ON RAISING FUNDS
A) COSTS OF GENERATING DONATIONS AND LEGACIES
| Unrestricted | |||||
|---|---|---|---|---|---|
| funds | Total | ||||
| General | funds | ||||
| Note | £ | s | |||
| Otherdirect costs ofgenerating voluntary income | 396 | 396 | |||
| Total for2023 | 396 | 396 | |||
| 6 EXPENDITURE ON CHARITABLE ACTIVITIES | |||||
| Unrestricted | |||||
| funds | Restricted | Total | |||
| General | funds | funds | |||
| ae “5 : >=,3 U Og¢ ro One & |
Runningofthe pre-school Staff costs Allocated supportcosts Tren Rewer Governance costs Total for2023 |
Note | £ 2,539 90,613 18,025 1.097 112,274 |
£ 456 - 703 - 1,159 |
£ 2,995 90,613 18,728 1,097 __113,433 |
| Se | Totalfor2022 | 104,657 | ' | 104,657 |
7 OTHER EXPENDITURE
| Unrestricted | ||||
|---|---|---|---|---|
| funds | Restricted | Total | ||
| General | funds | funds | ||
| Note | £ | £ | £ | |
| Depreciation, amortisation andother similar costs | 309 | 17,450 | 17,759 | |
| Total for2023 | 309 | 17,450 | 17,759 | |
| Totalfor2022 | 219 | - | 219 |
Page 17
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
a e Ys> ; = ag Og? JKe Ow a a 35
ABBOTSHAM AND ALWINGTON PRE-SCHOOL
8 ANALYSIS OF GOVERNANCE AND SUPPORT COSTS
Support costs allocated to charitable activities
| Other | |||||||
|---|---|---|---|---|---|---|---|
| Governance | Finance | I.T. | Admin | Premises | support | Total | |
| costs | costs | costs | costs | costs | costs | funds | |
| i | £ | 2 | £ | a | £ | ||
| Running ofthe | |||||||
| pre-school | 1,097 | 11 | 406 | 601 | 16,129 | 1,581 | 19,825 |
| Totalfor2022 | 1,680 | - | 780 | 788 | 15,831 | 1,520 | 20,599 |
9 TRUSTEES REMUNERATION AND EXPENSES No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
10 STAFF COSTS The aggregate payroll costs were as follows:
| 10 STAFF COSTSSTAFF COSTSCOSTS The aggregateaggregatepayrollcosts werewereasfollows: |
||
|---|---|---|
| The aggregateaggregate payroll costs werewere as follows: ; Staffcostsduringtheyearwere: |
2023 £ |
2022 £ |
| Wagesandsalaries | 88,934 | 80,292 |
| Pension costs | 1,365 | 1,743 |
| Other staffcosts | 314 | 432 |
| 90,613 | 82.467 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
----- Start of picture text -----
2023 2022
No No
Employees 6 6
----- End of picture text -----
No employee received emoluments of more than £60,000 during the year
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ABBOTSHAM AND ALWINGTON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
11 INDEPENDENT EXAMINER'S REMUNERATION
| 11 INDEPENDENT EXAMINER'S REMUNERATIONREMUNERATION | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Other fees to examiners | ||
| Examination-relatedassuranceservices | 600 | 570 |
12 TAXATION
The charity is a registered charity and is therefore exempt from taxation on its charitable activities.
13 TRANSFERS
During the year there was a transfer of funds from unrestricted funds to restricted funds for the remaining funds needed to purchase the outdoor classroom, for which donations had been received.
14 TANGIBLE FIXED ASSETS
| 14 TANGIBLETANGIBLE FIXED ASSETS | ||||
|---|---|---|---|---|
| >» faaZ ri oe = >=,fe O<< Iho Owe |
Cost At1 August2022 |
Property improvements 5a - |
Furniture and equipment £ 2.374 |
Total z 2,374 |
| & | Additions | 17,372 | 796 | _18,168 |
| © pa © |
At31 July2023 | TT3te | 3,170 | 20,542 |
| Depreciation | ||||
| At 1 August 2022 | - | 219 | 219 | |
| Charge for the year | 17,372 | 388 | 17,760 | |
| At 31 July 2023 | 17,372 | 607 | 17,979 | |
| Netbook value | ||||
| At 31 July 2023 | - | 2,563 | 2,563 | |
| At31July2022 | - | 2158 | 2,155 |
Included within the net book value of land and buildings above is Nil (2022 - Nil) in respect of freehold land and buildings and £Nil (2022 - Nil) in respect of leasehold buildings.
Page 19
ABBOTSHAM AND ALWINGTON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
| 15DEBTORS | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Trade debtors | 45 | 34 | ||
| Other debtors | - | 849 | ||
| 45 | 883 | |||
| 16CASHANDCASHEQUIVALENTS | ||||
| 2023 | 2022 | |||
| £ | i | |||
| Cash atbank | 86,604 | 90,642 | ||
| 17 CREDITORS: AMOUNTS FALLINGDUEWITHINONEYEAR | ||||
| 2023 | 2022 | |||
| pa | £ | |||
| Trade creditors | 408 | 20 | ||
| 5 aZ ri=zZ ar S 5 a Ons |
Othertaxationandsocialsecurity Othercreditors Accruals |
927 528 600 a 2,463 |
- 338 540 398 |
|
| - |
< 18 PENSION AND OTHER SCHEMES ° Defined contribution pension scheme
The charity contributes to a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £1,365 (2022 - £1,743).
19 COMMITMENTS
Other financial commitments
Rent of premises
The total amount of other financial commitments not provided in the financial statements was £8,767 (2022 - £8,767).
Page 20
ABBOTSHAM AND ALWINGTON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
20 FUNDS
| 20 FUNDSFUNDS | |||||||
|---|---|---|---|---|---|---|---|
| Balance at | |||||||
| Balanceat1 | Incoming | Resources | 31 July | ||||
| August | 2022 | resources | expended | Transfers | 2023 | ||
| Z | £ | £ | £ | £ | |||
| Unrestricted funds | |||||||
| General | 88.826 | 122,129 | (112,979) | (11,765) | 86,211 | ||
| Restricted funds | 3,956 | 3,426 | (18,609) | 11,765 | 538 | ||
| Total funds | 92,782 | 135,585 | (131,588) | “ | 86,749 | ||
| Balance at | |||||||
| Balanceat1 | Incoming | Resources | 31 July | ||||
| August2021 | resources | expended | 2022 | ||||
| f | = | 5 | i | ||||
| Unrestricted funds | |||||||
| 7 - |
|||||||
| Y =q General Pad S23_Restrictedfunds Ode © inuy Totalfunds 2 |
95,999 97,703 (104,876) 88,826 8956-8956. 95,999 101,659 (104,876) 92,782 |
||||||
| 2 | |||||||
| Offs |
Page 21
ABBOTSHAM AND ALWINGTON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
21 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Total | ||||
|---|---|---|---|---|
| Unrestricted | funds at | |||
| funds | Restricted | 31 July | ||
| General | funds | 2023 | ||
| £ | £ | £ | ||
| Tangible fixed assets | 2,025 | 538 | 2,563 | |
| Current assets | 86,649 | - | 86,649 | |
| Current liabilities | (2,463) | - | (2,463) | |
| Total net assets | 86,211 | 538 | 86,749 | |
| Total | ||||
| Unrestricted | funds at | |||
| funds | Restricted | 31 July | ||
| General | funds | 2022 | ||
| £ | £ | £ | ||
| Tangible fixedassets | 2,155 | - | 2,155 | |
| 27 a© aa}=) >2Z3 Og Iho Ons & |
Currentassets Currentliabilities Total netassets 22ANALYSISOFNETFUNDS |
87,569 3,956 91,525 (898) . (898) TT 88,826 3,956 92,782 IE |
||
| $ OFs | Atl August |
Financing | At31 July | |
| 2022 | cash flows | 2023 | ||
| £ | £ | £ | ||
| Cash at bank and in hand | 90,642 | (4,038) | 86,604 | |
| Net debt | 90,642 | (4,038) | 86,604 | |
| Atl | ||||
| August | Financing | At 31 July | ||
| 2021 | cash flows | 2022 | ||
| £ | f | £ | ||
| Cash at bank and in hand | 95,999 | (5,357) | 90,642 | |
| Netdebt | 95,999 | (5,357) | 90,642 |
23 RELATED PARTY TRANSACTIONS
There were no related party transactions in the year.
Page 22