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| POTLEY HILL COMMUNITY PRESCHOOL - Accounts for the year ended 31 July 2023
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Potley Hill Community Preschool . 7 _ Accounts for the year ended 31 July 2023 a _ Table of contents . . - m3 : Pages © a Table of contents : 1, _ Statutory information 4 Annual Report of the Management Committee —s—y 2-4 Independent Examiner’s Report. , - 45 Statement of Financial Activities 6 Balance Sheet ’ 7 Notes to the Accounts h 4 / ~ 8-10 a Statutory information | , The following information forms part of the Annual Report of the Management Committee, who are the managing trustees. oe ; . > The Charity’s principal office is: : Frogmore Community Campus . ‘ Potley Hill Road Pe Yateley oe . Hampshire GU46 6AG , Telephone: 01252 869944 ~~ » The Charity was established in 1979 under the auspices of the Preschool Learning Alliance. Itis registered in England & Wales, number 1.023187. a > The Management Committee are appointed annually at the annual general meeting _ year:by majority vote. The following: served, as Committee members- during. the financial | - _ |LaurenMisa_ | Treasurer (from19"Oct2022) | |TaraJaneNicholas | }GemmaJohnson |AbigailFickling | | From 19% October 2022 | [James Bowen ——=«d| SSCS ~*;C nT 4G October 2022 | The Charity’s independent examiner is: - ; Mrs Claire Connell woe oe 86 Silverdale Road Earley : oo so Reading RG6 7LT —
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The preschool’s bankers are The Co-operative Bank, Charity Bank, and Nationwide
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Potley Hill Community Preschool oy | . Annual Report of the Management Committee for the year ended 31 July20230 So The Committee have pleasure in submitting their report for the year. The Committee members who have served during the year are listed on the previous page, with the other statutory information that forms part of their annual report. This report is to be presented at _ the forthcoming annual general meeting to be held at the Frogmore Community Campus, Yateley on 16" October 2023. Objectives and activities © ee _ . . Potley Hill Community Preschool was established in 1979 and provides preschool learning and play facilities for children between the ages of 2 and 5 years in the Yateley area, occupying purpose-designed premises on the Frogmore Community Campus that are ‘ leased from Hampshire County Council. The Preschool was open during the year for five 7 full days per week between 8 am and 6 pm, with wrap around care available, thus offering . flexibility for parents in the time that their children may attend. Government funding is - available for 3- and 4-year olds prior to attending school, and for eligible 2-year olds. The ‘most recent OFSTED inspection was in December 2019, and the preschool was rated as good. . . . The preschool provides a valued service for parents in Yateley and the-surrounding area and remains committed to continual:improvement. It is a condition of the lease for the premises that the preschool should continue to receive a minimum “Good” rating from such: inspections. The trustees are mindful of the Charity Commission’s guidance on. public . benefit. . - _ . ‘Achievements and performance oo The. number of children on the roll increased over the previous year. Overall occupancy was 99.38% compared with 96.72% the previous year. The preschool is now taking a significant number. of children below the age of three years, the age at which universal Early Years Education funding commences, so parents pay for all those sessions. Parents also pay for additional hours above the 15 or 30 funded hours per week. ,
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The preschool continues to implement the ‘Curiosity Approach’ towards learning and the childcare environment and has achieved accreditation for delivering childcare based on this approach. It has also introduced a Forest School which is run separately from the main _ preschool, although using the same staff.
: The preschool has benefitted from stability in staffing over the past year. Staff training is - ongoing, with a view to.ensuring all staff are qualified to at least level 3.
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~ Potley Hill Community Preschool ) a Annual Report of the Management Committee for the year ended 31 July 2022 (continued) . : . Financial review - The attached Statement of Financial Activities summarises the Charity’s income and expenditure for the year, supplemented by more detailed analyses in the Notes to the Accounts. The Balance Sheet shows the Charity’s assets, liabilities and reserves.
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These accounts show a surplus of £11,398 on unrestricted funds, compared with a surplus of £32,790 in the previous year. The balance: sheet shows:net assets and reserves of £194,298 (2022: £182,900), compared with annual income of some £422,773 (2022: £382,334). eo,
' The trustees’ policy is to maintain sufficient reserves to provide: working capital to enable the Charity to continue its activities should there be either a delay in receiving Early Years funding from-Hampshire County Council, or a downturn in the number of children attending and/or the number of sessions taken. The reserves policy was reviewed by the Committee _ and the designated reserve was increased in 2020 (see below). Reserves at 31 July 2023 were as follows: . : So
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° A designated reserve of £140,000, equivalent approximately to one term’s expenses plus £35,000 for closure costs, as a strategic contingencies reserve. This was approved by the Committee (as trustees) in October 2020. The amount in this reserve is reviewed — annually. © | : com
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e Unallocated general funds of £54,298. . . Structure, governance and management a ,
The Charity is an unincorporated organisation. Its constitution follows the model provided by the Preschool Learning Alliance; the original was dated 21 May 1993 and has been subsequently updated, most recently in 2011. The Committee are the managing trustees . and meet half termly to manage and oversee the preschool’s business affairs. The trustees. are appointed annually at the Charity’s annual general meeting by majority vote. The members of the Charity are the parents of children attending the Preschool, whilst their children are attending. .
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. _ Whilst the trustees have overall responsibility for the Charity’s affairs, day-to-day management of childcare services and the associated administrative duties have been _ delegated to the. Manager and her staff. The Charity’s financial administration is carried out by a paid employee with financial expertise, reporting to the Treasurer, who is a trustee.A budget is agreed by the trustees before the start of each financial year, and results are monitored by trustees on a termly basis.
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Potley Hill Community Preschool | Annual Report of the Management Committee for the year ended ~ 31 July 2023 (continued) ~ = . . |
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Structure, governance and management (continued) 7
The Charity’s statutory particulars, including the names of trustees, are on page 1.
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The Committee have considered the risks to which the Charity is exposed, and the systems that have been established to minimise those risks. The Charity has established policies and a programme of training for its staff to maintain a high standard of service. A. _ programme of training tailored for trustees is also available for Committee members, using material and courses available from Hampshire County Council’s Services for Young Children and the Preschool Learning Alliance. a
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, Comprehensive risk/benefit assessments are ongoing and the Committee have taken appropriate steps to ensure risks are managed. The Committee has concluded that the 0 standard Preschool Learning Alliance insurance policies provide appropriate cover by in respect of:
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. >} Fire and other damage > Employer and public liabilities
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Signed on behalf of the Management Committee
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~ Natasha Munday oo
_ Secretary
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Ella Carroll”
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Chair : —
Dated N\G[to lay “
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Potley Hill Community Preschool Independent Examiner’s Report to the Committee
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| report to the Committee (who are the Charity’s trustees) on my examination of the accounts of the Charity for the year ended 31 July 2022 which are set out on pages 6 to 10.
Responsibilities and basis of report ; : As the trustees of the Charity you are responsible for preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act’). °
| report in respect of my examination of the Charity’s accounts carried out under section 445 of the 2011 Act, and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
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Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. | confirm that | am qualified to undertake the examination because | am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. . :
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| have completed my examination. | confirm that no material matters have come to my
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: attention in connection with the examination giving me cause to believe that in any material respect: 1. Accounting records were not kept by the Charity as required by section 130 of the _ Act;
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- The accounts do not accord with those records; or 3. The accounts do not comply with the applicable requirements concerning the form — and content of the accounts set out in the Charities (Accounts and Reports) . Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
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| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. .
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Chan. Connell. 7
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Claire Connell MA, ACA, CTA 86 Silverdale Road Chartered Accountant Earley _ Reading RG6 7LT
18th October 2023
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. Potley Hill Community Preschool ee Statement of Financial Activities for the year ended 31 July 2023
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|or|oo|.|:|2023|2022|
|a.|Restricted|Unrestricted|Total.|Total|
|Income|and|endowments|from:|.|
|Donations|and|legacies|;|:|
|OtherDonationsgrants|—|Zz|:|r|=|500=|©|oe500|-|
|Other Covid|related|grants|-|cos|847|
|Connect4Communities|grant|—|360|-|_360|1,125|,|
|sa|,|360|500|860|1,972:|
|Charitable|activities|;|.|2|oO|
|‘Grants|from|local|education|authority|:|-|232,642|232,642|210,135|
|Parental|fees|and|other|contributions|.|-|.|180,199|180,199|163,266|
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|-|412,841|412;841|373,401|
|Other|trading|activities|-|,|
|Christmas.events|:|887|887|745|
|Sponsored|event|.|:|-|545|545|647|
|Hand|prints|-|173|(173|299|
|Commissions|from|photographs|&|other|income||-|2,534|2,534|2,465|
|Uniform|sales|oo|-|.|3,166|3,166|2517...|
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|:|,|,|-|7,305|.|7,305|6,673|||
||||TotalInvestments;|||bank|interest||,|||-|1,767|1,767"|288|
|.|Expenditure|on:|,|
|Raising|funds:|
|Advertising|(including|website|costs)|-|1,641|1,641|1,853|
|Charitable|activities|©|
|Staff salaries|and|related|costs|(Note|3)|=|343,659|343,659|294,127|
|Uniforms|oe|722|-|722|965|
|Rent,|service|charges|and|cleaning|for|premises|.|-.|30,078|30,078|23,210|
|Gardens|and|general|maintenance|-|294|294|263|
|Garden|and|premises|improvements|oe,|7,240.|7,240|265|
|Equipment|and|consumables|-|-||8,225|8,225|11,125|
|Milk and|provisions|-|1,062|1,062|1,508|
|.|Hot|lunches|be!|42,399|12,399|8,049|
|Office|supplies,|telephone|and|sundry|costs|:|-|569°|569|687|
|Accountancy.and|payroll|software|-|1,385|1,385|~|728|-|
|Printing|and|photocopying|os|._|687|687|608|
|Membership,|accreditation|and|insurance|-|2,198|2,198|2,360|
|Uncollected|fees|expense|-|‘|(17)|(17).|473|
|Independent|examination|fees|(Note|5)|-|550|550|550|||
|Connect4Communities|expenditure|510|-"|510|975|
|Depreciation|;|ne|oe~|510|409,224173|409,734173|347,541+|1,648|
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|-|NET|INCOME|FOR THE YEAR|,|~|(150)|11,548|11,398|~|32,940|
|Total|funds|brought forward|150|||182,750|182,900|149,960;|
|Transfers|between|funds|-|=|-|-|
|TOTAL FUNDS CARRIED FORWARD|[||=]|194,298|||194,208|||182,900]|
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| BalancePotley HillSheetCommunityas at 31 PreschoolJuly 2023
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|Fixed assets||—|||||||||||||
|Tangible assets||||6|-||173|||||||,|
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|Currentassets|=|||.|.||.||||||||
|Stocks of uniform & consumables|||||1,229||1,228|—|||||||
|Debtors||:||7|7,189||8,390||||||||
|Cash at bank and in|hand|||||:|||||||||
|Current account|||||105,287||115,699||||||||
|Deposit accounts||a|||152,647.||116,195||||||||
|Petty cash|||||77||298||||||||
|Total current assets|||||266,429||241,810||||||||
|Creditors:amountsfalling
Creditors and accruals||duewithinoneyear||8|—-72,131|7|-59,083|||||.|||
|Net current assetsog|og||,||194,298||182,727||||||||
|NET ASSETS:|,|os|a,||194,298|||182,900||||;||||
|Thefunds ofthe Charity||7|a|||||||||||||
|Restricted income funds||||9|-||150|||||||||
|Unrestricted funds||||9|194,298||182,750||||||||
|TOTALCHARITYFUNDS|||||194,298|||182,900||||||||a|
|Approved at a meeting ofthe||Management Committee||held|on 10" October2023 -||||||||||
|Ella Carroll.||,|.|Lauren Misa||||||||oS|||
|Chair||||Treasurer||||||,|||,||
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Approved at a meeting of the Management Committee held on 10" October 2023 -
Ella Carroll. Chair
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Potley Hill Community Preschool ae 7 Notes to the Accounts for the year ended 31 July 2023 , 4. The Charity’s structure, organisation and business : _ Potley Hill Community Preschool is an unincorporated association governed by its constitution dated 21 May 1993 (as updated, see Page 1). It is a charity registered in England and Wales, and the address of the registered office is given in the charity information on page 1 of these accounts. The Charity’s members are the parents of children — ‘currently attending the preschool. 7 . <? The preschool provides preschool educational services fundedby the Government's Early . Years Education scheme and parental fees. 7 . 2. Accounting policies | . oe ' ~ a) General matters — pot ; The charity constitutes.a-public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019; the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally . Accepted Accounting Practice. a ; ; | | .
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b) Going concern
The Charity’s activities are funded substantially by the income from Hampshire County Council under the Early Years Education scheme and parents’ fees. The budget for the ; year commencing 1 August 2023 and support (if necessary) from reserves indicates that funds will be sufficient to meet expected costs; and ‘projections for the subsequent year indicate ongoing business sustainability.
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c) Fixed assets, depreciation and use of restricted reserves _. ‘Fixed asset purchases are capitalised provided that the cost exceeds £1,000. Depreciation is charged on assets at rates calculated to write down those assets over their estimated useful lives, which are taken as five years for furniture, fittings and IT equipment; and ten years for outdoor equipment. Grants received to fund the purchase of fixed assets are credited to restricted reserves and released to unrestricted funds over the estimated useful ; lives of the assets concerned. 8 , :
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‘d) Taxation pate Fong y e | The Charity’s income is exempt from income and corporation taxes; and its activities are exempt from Value Added Tax (VAT), so all expenditure is therefore inclusive of applicable VAT.
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3. Staff costs a 2023 2022 |
Salaries . 313,401 271,542
Social Security, less small employer rebate 16,194 ~ 10,966
‘Employer pension contributions (NEST scheme) 8,862 7,073
Training, uniforms and other — . 5,202 4,546
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348,659 | 294,127
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, Potley Hill Community Preschool _ Oe . Notes to the Accounts for the year ended 31 July 2023 2023 (continued)
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_ Oe year ended 31 July 2023 2023 . a .
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| 3. Staffcosts(continued) . |
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| a | . . : Average number of staffemployed |
Number 20. |
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| . | Full-time staffequivalents 7 |
16 | 14 | |||
| No employee earned more than £60,000 perannum | annum (2022: | none); and, in the | opinion of | |||
| the trustees, no employee was able to exert | significant influence over the running of the | |||||
| a | Charity. | . |
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. 4. Trustees
. 4. Trustees “ None of the trustees received any emoluments or reimbursement of expenses in respect of those services. The salary of the Manager, who is a trustee ex officio, is included in staff costs in Note 3. . ; 5, Governance costs costs — a i The only governance cost that is separately identifiable is the fees paid to the independent examiner of £550 for those services (2021: £550). No other fees were paid to the examiner butin eitherthe amountyear. Theis notpremiumseparatelypaid statedfor generalin theinsurancespremium. includes trustee indemnity, cover,oO ~
- 5, Governance costs costs
| butin the amountyear. is notpremiumseparatelypaid separatelypaid | notpremiumseparatelypaidseparatelypaid statedfor generalin in | notpremiumseparatelypaidseparatelypaid statedfor generalin in | statedfor generalinin | statedfor generalin theinsurancespremium. | statedfor generalintheinsurancespremium. premium. | theinsurancespremium.premium. | oO | |||||||||
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| 6. Fixed assets; | tangibleassets | , | . | |||||||||||||
| Cost — . At 1 August 2021 |
‘ | . 25,956 |
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| Disposals in the year | boos | . | —s | , | ||||||||||||
| Additions in the year | . | - | : | |||||||||||||
| At 31 July2022 | . | . | 25,956 | - | ||||||||||||
| Depreciation At 1 August2022 |
— | . | oo | 25,783 | . | |||||||||||
| Written off re disposals | a | - | ||||||||||||||
| ' | Charge forthe year | ss | , | 173 | ||||||||||||
| - | At31 July2023 | , | 25,956 | . | ||||||||||||
| Netbookvalue | . | |||||||||||||||
| 31 July2023 | ||||||||||||||||
| 31 July2022 , |
‘— | 173 | a | . | ||||||||||||
| 7. Debtors | 2023~=—« | 2022 | Sn | |||||||||||||
| Fees receivable less provisions | 3,269 | 4,973 | ||||||||||||||
| Other debtors | ce | , | 673 | 75 | ||||||||||||
| Prepaid expenses | . 4 |
. | 3,247 7,189 |
3,342 8,390] |
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oo Potley Hill Community. Preschool Notes to the Accounts for the year ended 31 July 2023 (continued)
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|.|8.|Creditors|-|2023-2022|
|Supplies|and|services|for|preschool|activities.|(2,596|3,799|—|
|~|Accrued|holiday|pay &|bonus|~|56,312|46,161|
|PAYE &|National|Insurance|—|:|5,599|3,007|.|
|Pension|contributions.|2,296|1,492|a|an|
|Parents’|fees|received|in|advance|>|.|3,382|3,156|.|
|Other|creditors|and|accruals|;|~|1,946|1,468|
|.|.|_72,131|||59,083|
|9.|Reserves|:|July’|Surplus’|Fund|©|July|©|
|2022|foryear|Transfer|2023|
|s|
|Restricted|reserves|
|Connect4Communities|grant|.|150|~|(150)|-|-|
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||-|‘UnrestrictedGeneral|fundfunds|,|42,750|~~|,|11,548|-|54,298|
|.|Designated|fund;|'|strategic|contingencies|140,000|-|-|140,000|
|reserve|‘,|
||182,750|11,548|a|194,298|
|Allreserves|182,900|14,398|194,298|
|The|Connect4Communities|grant was|government funding|for vulnerable|families.|
||This|had|to|be|spent|on|food|and|energy|for|eligible|recipients.|
|10. Analysis|of net assets|by fund|-|General|Designated|Restricted|Total|
|fund|fund|fund|
|Tangible|fixed,|assets|||3|£.|-|£|“|£|‘.|£|=|
||StocksDebtors|.|#189:1,229|os-|--|7,1891,229|
|~||+|Creditors”Bank|&|cash|balancesce|~|118,011.-72,131|140,000-|.|--|258,011-72,131|
|:|ee|54,298|140,000|194,298|
|11.|Contingent|liabilities|.|.|
||There were no|contingent|liabilities|at 31|July 2023|(2022:|none).|;|
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12. Transactions with related parties
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All of the fee income is from parents who, by nature of the constitution, are members of the oe Charity. The total of fees paid by Committee members (who are trustees) during the year was £10,272 (2022 £17,217), all at the standard fee rates. : ,
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