REGISTERED CHARITY NUMBER: 1023166
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 August 2020 for
Portland Place Pre-School
Mill Accountancy Ltd 5 Amelia Court Retford Nottinghamshire DN22 7HJ
Portland Place Pre-School
Contents of the Financial Statements for the Year Ended 31 August 2020
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 10 |
| Detailed Statement of Financial Activities | 11 |
Portland Place Pre-School
Report of the Trustees
for the Year Ended 31 August 2020
The trustees present their report with the financial statements of the charity for the year ended 31 August 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1023166
Principal address
Portland Place Sutton cum Lound Retford DN22 8PP
Trustees
S Bell - resigned 13.1.20 S Betts - resigned 13.1.20 K Hayes - resigned 13.1.20 K King - resigned 14.1.20 Ms L Bland Chairperson Mrs C A Pickering - appointed 13.1.20 - resigned 2.6.20 Mr D F Pickering - appointed 14.1.20 - resigned 5.6.20 C Coyle - appointed 13.1.20 Ms D H Elliott Treasurer - appointed 13.1.20 Ms C Whellans - appointed 13.1.20 - resigned 5.6.20 Miss M E Elliott Secretary - appointed 29.5.20 S Marriott - appointed 26.6.20 - resigned 12.4.21
Independent examiner
Gillian Barbara Mill FCCA Mill Accountancy Ltd 5 Amelia Court Retford Nottinghamshire DN22 7HJ
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is controlled by its governing document, a Model Pre-School Constitution 2011 provided by the Pre-School Learning Alliance dated 18th January 2012, and constitutes an unincorporated charity registered with the Charity Commission.
Recruitment and appointment of new trustees
The Charity should have no less than 5 and no more than 12 Trustees on the committee, plus a maximum of 3 co-opted Trustees.
The Trustees are appointed at the AGM for one year and can stand for re-elected each year until they have served a maximum of 10 years. Co-opted Trustees can be appointed at any time during the year but must resign at the AGM and be appointed Trustees in the normal way if there are sufficient vacancies.
All Trustees should hold Family Membership of the Charity. If there are insufficient family members available to act as Trustees Associate Members can be appointed.
The committee are currently working hard to increase the number of serving Trustees.
Page 1
Portland Place Pre-School
Report of the Trustees
for the Year Ended 31 August 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees
All Trustees are invited to visit the Pre-School and are provided with the relevant Charity Commission information for Trustees.
Wider network
The Charity is part of the Pre-School Learning Alliance which provides advice and support.
Risk management
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
We as Trustees have considered 3 main risks:
i) Failing the Ofsted report. We would overcome this by compliance. We pay an annual fee to Adapt Childcare & Training services, who offer support & advice in adherence to Ofsted guidelines
ii) Lack of funding. We would overcome this obstacle by promoting the Pre-school around the village & neighbouring areas. We would also promote government funded places & ensure that we applied for all subsidies offered through these places.
iii) The school no longer allowing us to rent the building used for the Pre-school: We have considered this risk & would look at other options available to us. For e.g the village halls in Sutton and in neighbouring village Lound, or the Hallcroft Community centre. Any of these options would be suitable
OBJECTIVES AND ACTIVITIES
Objectives and aims
We are an OFSTED inspected Pre-School and were rated as Good at our last inspection. We provide pre-school learning activities for children from 2 to 4 years of age in order to develop their intellectual, emotional, physical and social skills. This is achieved through offering a range of free play and structured activities. Children are supported in their learning by qualified and supportive staff, who are trained to encourage children to reach their individual learning potential and to express themselves in their own unique way.
The aim of the pre-school is to enhance the development and education of children under statutory school age by offering appropriate play, care and education facilities.The opportunity for learning is available to all children regardless of race, culture, religion, means or ability.
We encourage the study of the needs of pre-school age children and promote public interest in, and recognition of, such needs in the local area. We help support students in both college and university with their studies in this area.
We adhere to, and actively promote, the aims and objects of the Pre-School Learning Alliance.
Significant activities
At the beginning of the year in September 2019 we had 18 children on our register rising to 29 in July 2020 through promoting the pre-school. Each session is attended by between 12 and 20 children
Volunteers
The Pre-school committee is run by a group of volunteers, who work with each other to help run the Pre-school as smoothly as possible. They attend regular meetings, help with fundraising and deal with any issues that may arise.
There are also parent volunteers who help out with the fund raising and events that the Pre-school hosts.
Due to the global pandemic starting partway through the school year, the last major fundraising event hosted was the Christmas Fayre 2019, which accounted for just under half of our yearly fundraising total.
Page 2
Portland Place Pre-School
Report of the Trustees
for the Year Ended 31 August 2020
ACHIEVEMENT AND PERFORMANCE
Charitable activities
We have been chosen by a number of parents whose children display a wide variety of complex needs, including physical conditions, behavioural and social delays for their age and possible emerging neural differences, because of which we have achieved a more inclusive environment.
Staff have attended training in several areas to continue to develop their skills. Our apprentice has completed her level 3 training this year, so all of our staff are level 3 qualified as a minimum. Our pre-school manager has enrolled onto Level 5 Advanced Practitioner to enhance the setting further.
Fundraising activities
This year money was raised by a variety of events including a soft play centre event, commission from school photographer, selling Christmas cards that the children had made, sports relief & children in need days. We also were able to hold a Christmas fayre & Christmas concert.
FINANCIAL REVIEW
Reserves policy
The charity aims to maintain a reserve of one terms expenditure on deposit. When we reviewed the figure last year, we found that the amount held on deposit was insufficient to meet this criteria so have been trying to increase it over the last year. We are now almost at this figure, and aim to achieve it in the beginning of our next financial year.
Principal funding sources
A principal funding source is the funding for Pre-School places provided by the government. We rely on their commitment to early years education in order to maintain our services.
FUTURE DEVELOPMENTS
The Trustees will continue to support the work of the pre-school and maintain the standard of facilities while raising the profile of the pre-school and involving more parents.
We are working towards building up the reserve account to put towards an extension to pre-school. This will slightly increase numbers & create a much needed office space, as well as updating the aesthetics of the room.
Approved by order of the board of trustees on 27 May 2021 and signed on its behalf by:
Ms L Bland - Trustee
Page 3
Independent Examiner's Report to the Trustees of Portland Place Pre-School
I report on the accounts for the year ended 31 August 2020, which are set out on pages five to ten.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
-
that accounting records were not kept as required by section 130 of the Act; or
-
that the accounts do not accord with those records; or
-
that the accounts do not comply with the accounting requirements of the Act; or
-
that there is further information needed for a proper understanding of the accounts.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
Gillian Barbara Mill FCCA Mill Accountancy Ltd 5 Amelia Court Retford Nottinghamshire DN22 7HJ
27 May 2021
Page 4
Portland Place Pre-School
Statement of Financial Activities
for the Year Ended 31 August 2020
| 31.8.20 Unrestricted fund Notes £ INCOMING RESOURCES Incoming resources from generated funds Activities for generating funds 2 1,137 Investment income 3 8 Incoming resources from charitable activities Pre School 86,590 Total incoming resources 87,735 RESOURCES EXPENDED Charitable activities Pre School 83,828 Governance costs 677 Total resources expended 84,505 NET INCOMING RESOURCES 3,230 RECONCILIATION OF FUNDS Total funds brought forward 38,795 TOTAL FUNDS CARRIED FORWARD 42,025 |
31.8.19 Total funds £ 386 9 94,025 |
|---|---|
| 94,420 89,452 1,890 |
|
| 91,342 | |
| 3,078 35,717 |
|
| 38,795 |
The notes form part of these financial statements
Page 5
Portland Place Pre-School
Balance Sheet
| At 31 August 2020 31.8.20 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 3,569 CURRENT ASSETS Debtors 7 291 Cash at bank and in hand 38,279 38,570 CREDITORS Amounts falling due within one year 8 (114) NET CURRENT ASSETS 38,456 TOTAL ASSETS LESS CURRENT LIABILITIES 42,025 NET ASSETS 42,025 FUNDS 9 Unrestricted funds 42,025 TOTAL FUNDS 42,025 |
31.8.19 Total funds £ 3,040 791 36,169 36,960 (1,205) 35,755 38,795 38,795 38,795 38,795 |
|---|---|
The financial statements were approved by the Board of Trustees on 27 May 2021 and were signed on its behalf by:
Miss M E Elliott -Trustee
The notes form part of these financial statements
Page 6
Portland Place Pre-School
Notes to the Financial Statements
for the Year Ended 31 August 2020
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. ACTIVITIES FOR GENERATING FUNDS
| 31.8.20 | 31.8.19 | ||
|---|---|---|---|
| £ | £ | ||
| Fundraising events | 1,137 | 386 | |
| 3. | INVESTMENT INCOME | ||
| 31.8.20 | 31.8.19 | ||
| £ | £ | ||
| Deposit account interest | 8 | 9 |
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Portland Place Pre-School
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019 .
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019 .
5. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Pre-School staff |
31.8.20 £ 64,620 2,208 1,390 68,218 31.8.20 - |
31.8.19 £ 66,846 - 1,158 |
|---|---|---|
| 68,004 | ||
| 31.8.19 8 |
No employees received emoluments in excess of £60,000.
6.
TANGIBLE FIXED ASSETS
| Improvements | Computer | |||
|---|---|---|---|---|
| to property | equipment | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 September 2019 | 3,040 | - | 3,040 | |
| Additions | - | 622 | 622 | |
| At 31 August 2020 | 3,040 | 622 | 3,662 | |
| DEPRECIATION | ||||
| Charge for year | - | 93 | 93 | |
| NET BOOK VALUE | ||||
| At 31 August 2020 | 3,040 | 529 | 3,569 | |
| At 31 August 2019 | 3,040 | - | 3,040 | |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.8.20 | 31.8.19 | |||
| £ | £ | |||
| Trade debtors | 291 | 791 |
Page 8
Portland Place Pre-School
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.8.20 | 31.8.19 | |||
|---|---|---|---|---|
| £ | £ | |||
| Taxation and social security | 114 | 1,205 | ||
| 9. | MOVEMENT IN FUNDS | |||
| Net movement | ||||
| At 1/9/19 | in funds | At 31/8/20 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 38,795 | 3,230 | 42,025 | |
| TOTAL FUNDS | 38,795 | 3,230 | 42,025 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement in | ||
| resources | expended | funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 87,735 | (84,505) | 3,230 | |
| TOTAL FUNDS | 87,735 | (84,505) | 3,230 | |
| Comparatives for movement in funds | ||||
| Net movement | ||||
| At 1/9/18 | in funds | At 31/8/19 | ||
| £ | £ | £ | ||
| Unrestricted Funds | ||||
| General fund | 35,717 | 3,078 | 38,795 | |
| TOTAL FUNDS | 35,717 | 3,078 | 38,795 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement in | ||
| resources | expended | funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 94,420 | (91,342) | 3,078 | |
| TOTAL FUNDS | 94,420 | (91,342) | 3,078 |
Page 9
Portland Place Pre-School
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net movement At 1/9/18 in funds At £ £ Unrestricted funds General fund 35,717 6,308 TOTAL FUNDS 35,717 6,308 |
31/8/20 £ 42,025 |
|---|---|
| 42,025 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 182,155 | (175,847) | 6,308 |
| TOTAL FUNDS | 182,155 | (175,847) | 6,308 |
Page 10
Portland Place Pre-School
| Detailed Statement of Financial Activities for the Year Ended 31 August 2020 INCOMING RESOURCES Activities for generating funds Fundraising events Investment income Deposit account interest Incoming resources from charitable activities Pre school fees Assisted places fees Outings, trips and activities Grants Total incoming resources RESOURCES EXPENDED Charitable activities Wages Social security Pensions Rent Premises costs Insurance Admin expenses Advertising Sundries Resources Ofsted Meals & snacks Training & uniforms Outings, trips and activities Governance costs Accountancy Support costs Management Subscriptions Other Computer equipment Total resources expended Net income |
31.8.20 £ 1,137 8 13,099 69,411 817 3,263 86,590 87,735 64,620 2,208 1,390 5,218 627 611 479 - 126 3,610 35 2,228 1,342 1,241 83,735 677 - 93 84,505 3,230 |
31.8.19 £ 386 9 31,293 61,277 1,455 - |
|---|---|---|
| 94,025 | ||
| 94,420 66,846 - 1,158 7,038 575 601 79 155 120 1,948 22 4,960 2,058 3,590 |
||
| 89,150 1,890 302 - |
||
| 91,342 | ||
| 3,078 |
This page does not form part of the statutory financial statements
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