**Charity Registration No. 1023326** ## **HURSTPIERPOINT PRE-SCHOOL** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021** ## **HURSTPIERPOINT PRE-SCHOOL** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|J Harvey (Chair)| |---|---| ||R Laurence| ||D Smith| ||C Tighe| ||K Duffy| ||L O'Grady| |**Charity number**|1023326| |**Principal address**|Village Centre| ||Trinity Road| ||Hurstpierpoint| ||West Sussex| ||BN6 9UY| ||TC Group| |**Independent Examiners**|| ||The Courtyard| ||Shoreham Road| ||Upper Beeding| ||Steyning| ||West Sussex| ||BN44 3TN| |**Main Bankers**|CAF Bank Ltd| ||25 Kings Hill Avenue| ||Kings Hill| ||West Malling| ||Kent| ||ME19 4JQ| ## **HURSTPIERPOINT PRE-SCHOOL** ## **CONTENTS OF THE FINANCIAL STATEMENTS** ||**Page**| |---|---| |Report of the Trustees|1 - 2| |Independent Examiner's report|3| |Statement of financial activities|4| |Balance sheet|5| |Notes to the financial statements|6 - 9| ## **HURSTPIERPOINT PRE-SCHOOL REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 31 JULY 2021** The trustees present their report with the financial statements of the charity for the year ended 31 July 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The Hurstpierpoint Pre-School is a registered provider of Pre-school education. The aims of the charity are as follows - To ease the transition from home and family and provide an environment that celebrates - To widen the children's world by providing a range of stimulating resources and equipment. - To encourage creativity and independence through constructive, child led play. - To allow play without interruption and encourage positive, caring relationships. - To enlarge the children's vocabulary and develop communication skills. - To acknowledge individual interests and celebrate the child's early years. - To involve families in the pre-school and have an 'open door' policy. ## **Public benefit** In setting objectives and planning activities the Trustees have given careful consideration to the Charity Commission's general guidance on charitable purpose and public benefit, and in particular its supplementary id h d f d i ## **Volunteers** We encourage parents to join in with pre-school life, perhaps helping out in sessions or at fundraising events like our annual Fun Day, or by joining the Committee. We also get involved with local events and community groups, like the St. Lawrence Fair and the Hurstpierpoint Horticultural Society. This partnership with parents and the community is really important to us and contributes to a varied, fun and educational experience for our children. ## **Achievements and performance** HPP Preschool continues to offer high quality, affordable Early Years childcare and education to the local community. All families are welcome to join our lively active Preschool. Forest school is offered to all our oldest children, yearround, offering unique outdoor learning experiences. ## **Future Plans** In 2022 we plan to continue to offer quality childcare at affordable costs in a difficult financial climate. ## **Risk** We have no risks a apart from a difficult financial climate which all Early Years providers are facing, however the fact that we are popular local Preschool with high levels of occupancy, mitigates this risk. ## **Financial review** In the prior year due to the pandemic the Preschool was closed for 9 weeks and on reopening offered services to Keyworker and vulnerable families for the remaining 6 weeks of term, this has resulted in income increasing this year. We ended the year with £9,470 surplus (2020: £7,345 deficit). ## **Reserves Policy** The Trustees operate a Contingency fund policy to ensure the continued ability for the charity to meet its objectives in this challenging and uncertain financial climate, as a result of this the preschool has a policy of keeping a reserve of £20,000 for unexpected costs and redundancies and £10,000 for outdoor equipment maintenance and repairs. At the end of 2021 we hold a total of £47,144 free reserves (2020: £37,674) and are acting in line with the reserves policy. 1 ## **HURSTPIERPOINT PRE-SCHOOL** ## **REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 31 JULY 2021** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity (registered charity number 1023326) is controlled by its governing document, a deed of trust and The trustees serving during the year and since the year end were as follows: J Harvey R Laurence D Smith K Duffy C Tighe L O'Grady ## **Trustees’ responsibilities in relation to the accounts** The trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law requires the trustees to prepare accounts 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, including the income and - In preparing these accounts, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; and · prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Mrs R Laurence **Trustee** Approved by order of the board of trustees on 23 May 2022 2 ## **HURSTPIERPOINT PRE-SCHOOL** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF HURSTPIERPOINT PRE-SCHOOL** ## **Independent examiner’s report to the trustees of Hurstpierpoint Pre-School.** I report to the trustees on my examination of the accounts of Hurstpierpoint Pre-School for the year ended 31 July 2021. ## **Responsibilities and basis of report** As the trustees of the Trust 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 Trust’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: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. 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 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. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report. ## **Jonathan Aikens FCA, DChA** Independent Examiner For and on behalf of TC Group Office: Steyning Date: 23 May 2022 3 ## **HURSTPIERPOINT PRE-SCHOOL** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **FOR THE YEAR ENDED 31 JULY 2021** **----- Start of picture text -----**
Total Total
2021 2020
Notes £ £
Income from:
Donations and legacies 5,107 2,610
Charitable activities 4 104,944 90,858
Other trading activities 5 214 290
Other 6 1,716 7,258
Total income 111,981 101,016
Expenditure on: 7
Raising funds 643 871
Charitable activities:
Funds generated for Pre-school 101,868 107,490
Total expenditure 102,511 108,361
Net income/(expenditure) 9,470 (7,345)
Fund balances at 1 August 2020 37,674 45,019
Fund balances at 31 July 2021 47,144 37,674
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All funds in 2021 and 2020 are unrestricted. 4 ## **HURSTPIERPOINT PRE-SCHOOL** ## **BALANCE SHEET** ## **AS AT 31 JULY 2021** **----- Start of picture text -----**
2021 2020
Notes £ £ £ £
Current Assets
Stocks 10 422 200
Cash at bank and in hand 63,609 56,457
64,031 56,657
Creditors: amounts falling due
within one year 11 (16,887) (18,983)
Net current assets 47,144 37,674
Total assets less current liabilities 47,144 37,674
Funds
Unrestricted funds 47,144 37,674
47,144 37,674
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The financial statements were approved by the Board of Trustees and authorised for issue on 23 May 2022 and were signed on its behalf by: Mrs R Laurence **Trustee** 5 ## **HURSTPIERPOINT PRE-SCHOOL** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 31 JULY 2021** ## **1 Accounting policies** ## **1.1 Basis of preparation** 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 (FRS 102) (effective 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. Hurstpierpoint Pre-School meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). There are no material uncertainties about Hurstpierpoint Pre-School's ability to continue as a going concern. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound. ## **1.2 Cash Flow Statement** In accordance with Section 7 of FRS 102 the charity is claiming exemption from the requirement to prepare a cash flow statement on account of its size. ## **1.3 Income** All income is included in the Statement of Financial Activities when the charity is legally entitled to the income, the amount can be quantified with reasonable accuracy and there is probability over the receipt of the income. The following specific policies are applied to particular categories of income: ## **1.4 Expenditure** Expenditure is accounted for on an accruals basis, inclusive of VAT, 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. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include independent examination fees and costs linked to the strategic management of the charity. These are included within support costs under the Charities SORP (FRS 102). ## **1.5 Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ## **1.6 Stocks** Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. ## **1.7 Cash at bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments. The Trustees seek to use short term deposits where possible to maximise the return on monies held at the bank and to manage cash flow. 6 ## **HURSTPIERPOINT PRE-SCHOOL** ## **NOTES TO THE ACCOUNTS (CONTINUED)** ## **FOR THE YEAR ENDED 31 JULY 2021** ## **Accounting Policies (continued)** ## **1.8 Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. ## **1.9 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. ## **1.10 Employee benefits** The costs of short-term employee benefits are recognised as a liability and an expense. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.11 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. ## **1.12 Judgements and key sources of estimation uncertainty** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised. The trustees do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements. ## **2 Taxation** The charity is a registered with the Charities Commission (number: 1023326). All of the charity income falls within the exemptions set out in part 11 of the Corporation Tax Act 2010. ## **3 Trustee Remuneration** All the trustees donate their time spent running the charity on a voluntary basis and do not receive any remuneration for their work. |**4 **|**Income from Charitable Activities**
**Funds generated for Pre-school**
Fees
Funding|**2021**
**£**
**5,540**
**99,404**
**104,944**|2020
£
20,056
70,802
90,858| |---|---|---|---| 7 ## **HURSTPIERPOINT PRE-SCHOOL** ## **NOTES TO THE ACCOUNTS (CONTINUED)** **FOR THE YEAR ENDED 31 JULY 2021** |**5 Other trading activities**
Shop income
**6 Other income**
Coronavirus Job Retention Scheme Grant
Other income
**7 Expenditure**
**Raising Funds**
Shop and fundraising costs
**Charitable activities**
Activities undertaken directly
Support costs
Total cost of charitable activities
**Total Expenditure**|**2021**
**£**
**214**
**2021**
**£**
**1,153**
**563**
**1,716**
**2021**
**£**
**643**
**95,100**
**6,768**
**101,868**
**102,511**|2020
£
290
2020
£
5,616
1,642
7,258
2020
£
871
98,999
8,491
107,490
108,361| |---|---|---| Included within support costs is £1,170 (2020: £600) in relation to independent examiners fees. ## **8 Trustees remuneration and benefits** Carey Tighe, the Preschool Manager, receives remuneration at market rate salary and acts as a trustee. There are no other trustees' remuneration or other benefits or reimbursed expenses for the year ended 31 July 2021 nor for the year ended 31 July 2020. ## **9 Employees** The average monthly number of employees during the year was as follows: |Supervisors
**10 Stocks**
Finished goods
No employees received emoluments in excess of £60,000. (2020: none).|**2021**
**£**
**9**
**2021**
**£**
**422**|2020
£
10
2020
£
200| |---|---|---| 8 ## **HURSTPIERPOINT PRE-SCHOOL** ## **NOTES TO THE ACCOUNTS (CONTINUED)** ## **FOR THE YEAR ENDED 31 JULY 2021** **----- Start of picture text -----**
11 Creditors: amounts falling due within one year 2021 2020
£ £
Trade Creditors 1,000 -
Accruals 1,706 600
Deferred income 13,465 17,782
Other creditors 716 601
16,887 18,983
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Deferred income represents a payment from WSCC which relates to the following year. ## **12 Control** The charity is under the control of the Trustees ## **13 Related party transactions** There were no related party transactions during the period, or preceding year that require disclosure. 9