**REGISTERED CHARITY NUMBER: 1023166** Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 August 2021 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 2021 ||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 2021 The trustees present their report with the financial statements of the charity for the year ended 31 August 2021. 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** |**Trustees**||| |---|---|---| |Ms L Bland|Chairperson|| |C Coyle||| |Ms D H Elliott|Treasurer|- resigned 27.5.21| |Miss M E Elliott|Secretary|- resigned 1.9.21| |S Marriott||- resigned 12.4.21| |A Staniland|Treasurer|- appointed 4.3.21| |R Thornhill||- appointed 25.5.21| |E Metcalf|Secretary|- appointed 27.5.21| ## **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. ## **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. Page 1 Portland Place Pre-School ## Report of the Trustees ## for the Year Ended 31 August 2021 ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **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 2020 we had 30 children on our register finishing with 36 in July 2021.. Each session is attended by between 9 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. ## **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. we have taken on a new apprentice. Our pre-school manager has continued her studies as a 5 Advanced Practitioner to enhance the setting further and is due to complete this in February 2022.. Page 2 Portland Place Pre-School ## Report of the Trustees for the Year Ended 31 August 2021 ## **ACHIEVEMENT AND PERFORMANCE** ## **Fundraising activities** This year money was raised by a variety of events including a soft play centre event, commission from school photographer, sports relief & children in need days. Due to the pandemic we were unable to hold our Christmas concert but we were able to make a Christmas DVD which we sold to raise funds. ## **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 24 February 2022 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 2021, 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: 1. that accounting records were not kept as required by section 130 of the Act; or 2. that the accounts do not accord with those records; or 3. that the accounts do not comply with the accounting requirements of the Act; or 4. 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 24 February 2022 Page 4 Portland Place Pre-School ## Statement of Financial Activities for the Year Ended 31 August 2021 |31.8.21
Unrestricted
fund
Notes
£
**INCOMING RESOURCES**
**Incoming resources from generated funds**
Activities for generating funds
2
752
Investment income
3
2
**Incoming resources from charitable activities**
Pre School
89,241
**Total incoming resources**
89,995
**RESOURCES EXPENDED**
**Charitable activities**
Pre School
88,426
**Governance costs**
1,728
**Total resources expended**
90,154
**NET INCOMING/(OUTGOING)**
**RESOURCES**
(159)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
42,025
**TOTAL FUNDS CARRIED FORWARD**
41,866|31.8.20
Total
funds
£
1,137
8
86,590| |---|---| ||87,735
83,828
677| ||84,505| ||3,230
38,795| ||42,025| The notes form part of these financial statements Page 5 Portland Place Pre-School ## Balance Sheet ## At 31 August 2021 |31.8.21
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
6
3,490
**CURRENT ASSETS**
Debtors
7
511
Cash at bank and in hand
38,590
39,101
**CREDITORS**
Amounts falling due within one year
8
(725)
**NET CURRENT ASSETS**
38,376
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
41,866
**NET ASSETS**
41,866
**FUNDS**
9
Unrestricted funds
41,866
**TOTAL FUNDS**
41,866|31.8.20
Total
funds
£
3,569
291
38,279
38,570
(114)
38,456
42,025
42,025
42,025
42,025| |---|---| The financial statements were approved by the Board of Trustees on 24 February 2022 and were signed on its behalf by: A Staniland -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 2021 ## **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** ## **3.** ||31.8.21|31.8.20| |---|---|---| ||£|£| |Fundraising events|752|1,137| |**INVESTMENT INCOME**||| ||31.8.21|31.8.20| ||£|£| |Deposit account interest|2|8| Page 7 Portland Place Pre-School Notes to the Financial Statements - continued for the Year Ended 31 August 2021 ## **4. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020 . ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020 . ## **5. STAFF COSTS** |31.8.21
£
Wages and salaries
71,892
Social security costs
-
Other pension costs
1,332
73,224
The average monthly number of employees during the year was as follows:
31.8.21
Pre-School staff
6
No employees received emoluments in excess of £60,000.
**6.**
**TANGIBLE FIXED ASSETS**
Improvements
Computer
to property
equipment
£
£
**COST**
At 1 September 2020 and 31 August 2021
3,040
622
**DEPRECIATION**
At 1 September 2020
-
93
Charge for year
-
79
At 31 August 2021
-
172
**NET BOOK VALUE**
At 31 August 2021
3,040
450
At 31 August 2020
3,040
529
**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.8.21
£
Trade debtors
511|31.8.20
£
64,620
2,208
1,390| |---|---| ||68,218| ||31.8.20
6
Totals
£
3,662
93
79
172
3,490
3,569
31.8.20
£
291| Page 8 Portland Place Pre-School Notes to the Financial Statements - continued for the Year Ended 31 August 2021 ## **8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |||31.8.21|31.8.20|| |---|---|---|---|---| |||£|£|| |Trade creditors||84|-|| |Taxation and social security||641|114|| |||725|114|| |**MOVEMENT IN FUNDS**||||| |||Net movement||| ||At 1/9/20|in funds|At 31/8/21|| ||£|£|£|| |**Unrestricted funds**||||| |General fund|42,025|(159)|41,866|| |**TOTAL FUNDS**|42,025|(159)|41,866|| |Net movement in funds, included in the above are as follows:||||| ||Incoming|Resources|Movement in|| ||resources|expended|funds|| ||£|£|£|| |**Unrestricted funds**||||| |General fund|89,995|(90,154)|(159)|| |**TOTAL FUNDS**|89,995|(90,154)|(159)|| |**Comparatives for 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|| |Comparative 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|| ## **9. MOVEMENT IN FUNDS** Page 9 Portland Place Pre-School ## Notes to the Financial Statements - continued for the Year Ended 31 August 2021 ## **9. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |Net movement
At 1/9/19
in funds
At
£
£
**Unrestricted funds**
General fund
38,795
3,071
**TOTAL FUNDS**
38,795
3,071|31/8/21
£
41,866| |---|---| ||41,866| 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|177,730|(174,659)|3,071| |**TOTAL FUNDS**|177,730|(174,659)|3,071| Page 10 Portland Place Pre-School ## Detailed Statement of Financial Activities |for the Year Ended 31 August 2021
**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
Sundries
Resources
Ofsted
Meals & snacks
Training & uniforms
Outings, trips and activities
**Governance costs**
Accountancy
**Support costs**
**Other**
Computer equipment
**Total resources expended**
**Net (expenditure)/income**|31.8.21
£
752
2
24,467
63,007
1,267
500
89,241
89,995
71,892
-
1,332
5,176
793
612
333
67
2,108
35
3,543
646
1,810
88,347
1,728
79
90,154
(159)|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| This page does not form part of the statutory financial statements Page 11