WEMBDON SUNSHINERS PRE SCHOOL FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2024
CONTENTS
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1 Reference and Administrative Details
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2-3 Report of the Management Committee 4 Report of the Independent Examiner 5 Statement of Financial Activities 6 Balance Sheet
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7-10 Notes to the Accounts
Registered Charity No. 1024051
Wembdon Sunshiners Pre School Reference & Administrative Details For the Year Ending 31 July 2024
The management committee serving during the year and since the year end were as follows:
J Dodden (Appointed 20 July 2012) L Lewis (Appointed 24 September 2018) L Rogers (Resigned 20 September 2024) K Pester (Resigned20 September 2024 H Gold (Appointed 27 September 2021) L Knight (Resigned 20 September 2024) L Williams (Resigned 20 September 2024) E Smith (Chair) (Appointed 22 September 2022) S Chrystall (Appointed 22 September 2022) S Parr (Resigned 20 September 2024) S Millward (Treasurer) (Appointed 22 September 2022) D Pester (Appointed 22 September 2022) R Chrystall (Appointed 20 November 2023) L Williams (Appointed 20 November 2023) R Stringer (Appointed 20 November 2023) E Cresswell (Appointed 20 November 2023) J Walford (Appointed 20 September 2024) Lydia Chapman (Appointed 20 September 2024)
Registered Address:
The Green at Wembdon, Homberg Way, Wembdon, Bridgwater, Somerset, TA67BY
Registered Charity No: 1024051
Independent Examiner:
Catherine Flannery FCCA, FMAAT South Devon Accounting Ltd, 6 Orchard Close, Newton Abbot, Devon, TQ12 6AL
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Wembdon Sunshiners Pre School
Report of the Management Committee For the Year Ending 31 July 2024
The management committee presents their annual report and financial statements of the Charity for the year ending 31[st] July 2024. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the accounts and comply with the Charity's trust deed, Charities Act 2011 and 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 the Republic of Ireland (FRS 102).
Objectives & Activities
The Charity's main objective is to enhance the development and education of children under statutory school age by encouraging parents to understand and provide for the needs of their children through a preschool setting. The trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
Achievements & Performance
It has remained a very challenging time in the Early Years sector, with lots of new changes. In April 2024 funding changed for working parents as the qualifying age changed to two years old. We were able to adapt to this change, successfully recruiting two Level 3 qualified staff, which is a great achievement as it remains very hard to recruit qualified staff in the sector. Our team is thriving and working very hard to ensure that the children receive the best care. We have tried to reward this by increasing our staff hourly rate.
Our fundraising remained strong over this year. We threw our annual Christmas fair, and it was a huge success. The grotto with our Santa was very popular, helping to raise £815 alongside our Christmas raffle. We also had a Valentines disco, and held two Easter competitions; an Easter bonnet competition and another to win a wonderful Easter hamper. As always, all our events are supported by our wonderful committee.
In June, our local Cricket club held a National Lashings cricket event which proved very popular in. We had some of the local players come in and spend time with our children, teaching them about cricket.
Our relationship with ‘Neighbourly’ is still going strong. We are now relying more and more on the surplus food donations from supermarkets which is helping keep our food shops cost down. It is also really helping our parents who are finding it hard financially as they can pick items from the table to take home for free, this can range from food to sanitary products.
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Wembdon Sunshiners Pre School Report of the Management Committee (cont.) For the Year Ending 31 July 2024
Financial Review
The Charity generated an overall surplus (after restricted funding allocations) of £41,958 for the year (£9,299 surplus in 2022/23). The management committee are extremely pleased that the Charity is continuing in its recovery journey after difficult years experienced during the Covid pandemic. Income increased by just under £27k, including an increase in fees, higher needs funding, and fundraising activities.
Despite the increase in income, the Charity was able to maintain stable overhead costs across the board, comparable with the previous year. A slight increase in premises rent and utilities was offset by a reduction in storage costs. Staffing costs including training, national insurance and pension costs decreased by just over £7k.
The combination of increased income, with a reduction in overall costs, resulted in a healthy surplus for the year which will assist with the future growth and development of the charity.
The Charity aims to hold sufficient funds in reserve to cover any redundancy costs should the preschool close in accordance with the recommendations set out by Local Government.
Structure, Governance & Management
Wembdon Sunshiners Pre School is an unincorporated Charity governed by its constitution with charity registration number 1024051.
The Charity is run by a management committee whose members are elected at the Annual General Meeting. The majority of the committee members are parents of children who attend the Preschool, along with two of the members of staff, the Preschool manager and office manager.
Approved by the management committee on 15[th] March 2025 and signed on its behalf by:
Sarah Milward Treasurer
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Wembdon Sunshiners Pre School
Examiners Report to the Trustees For the Year Ending 31 July 2024
We report to the trustees on my examination of the accounts of the charity for the year ended 31 July 2024.
Responsibilities and basis of report
As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity'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 examiners statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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2 the accounts do not accord with those records; or
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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 to enable a proper understanding of the accounts to be reached.
Catherine Flannery FCCA, FMAAT
South Devon Accounting Ltd, 6 Orchard Close, Newton Abbot, Devon, TQ12 6AL
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Wembdon Sunshiners Pre School Statement of Financial Activities For the Year Ending 31 July 2024
| Incoming resources (Note 2) Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Total Resources expended (Note 3) Expenditure on: Raising funds Charitable activities Total Net (deficit)/income Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds Restricted funds Total funds 2024 2023 £ £ £ £ 300 - 300 - 260,499 12,352 272,851 241,288 5,039 5,039 10,582 713 713 174 |
|---|---|
| 266,551 12,352 278,903 252,044 |
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| - - - - 234,486 2,459 236,945 242,745 |
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| 234,486 2,459 236,945 242,745 |
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| 32,065 9,893 41,958 9,299 |
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| 76,727 8,518 76,727 67,428 108,792 18,411 118,685 76,727 |
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Wembdon Sunshiners Pre School Balance Sheet As at 31st Jul 2024 2024 2023 Fixed assets Tangible fixed assets (Note 5) 6,153 7,691 Current assets Debtors Cash at bank and in hand Total current ossets (Note 6) 1,048 112,677 113.725 586 69,573 70.159 Creditors: amounts falling due within one year (Note 7) 1,193 1,123 Net current ossets 112,532 69,036 Total tissets less current liobilities 118,685 76,727 Fund5 of the Charity Unrestricted funds (Note 8) l(X),274 18,411 118,685 68,209 8,518 76,727 Retricted funds Totalfunds The financial statements were approved by the committee on 15th March 2025 and signed on its behalf by S Millward Treasurer
Wembdon Sunshiners Pre School Notes to the Accounts For the Year Ending 31 July 2024
Note 1 Basis of preparation
1.1 Basis of accounting
These accounts have been prepared under the historical cost convention, and in compliance with FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and 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), and the Charities Act 2011. The Charity is a public benefit entity. The accounts are prepared in sterling, which is the functional currency of the Charity. The trustees have taken advantage of the exemption available to small charities not to prepare a cash flow statement. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
1.2 Funds
The General fund is held with the purpose to support the charities primary activity which is to enhance the development and education of children under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups.
The Fundraising account holds money raised outside of the primary charitable activity and is also unrestricted. This enables the charity to purchase new equipment and resources for the children and make a difference to the community.
Restricted funds represent grants or donations received for a specific object. The fund may only be expended for the specific object for which they were given.
1.3 Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.
1.4 Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category.
The following specific policies apply to categories of expenditure:
Costs of generating funds comprise the costs associated with attracting fundraising income.
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 of an indirect nature necessary to support them.
Support costs are those incurred directly in support of expenditure on the objects of the charity.
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Wembdon Sunshiners Pre School Notes to the accounts (cont.) For the Year Ending 31 July 2024
Note 2 Analysis of income
| Donations received Charitable activities: Development & education of children Higher needs income (restricted fund) Fund raising events Sale of uniforms Interest income This is stated after charging: Depreciation - owned assets Independent examiner's fees Insurance Rent, light and heat Repairs and maintenance Uniform Bank charges Depreciation Governance Total Expenditure on charitable activities: Expenditure on raising funds: TOTAL INCOME Income from investments: Total expenditure on raising funds Other trading activities: Donations and legacies: Staging fundraising events Note 3 Analysis of expenditure Support costs Note 4 Support Costs Development and education of children Support costs Total expenditure on charitable activities Higher needs equipment expenditure (restricted fund) |
2024 2023 £ £ 300 - |
|---|---|
| 300 - |
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| 260,499 234,096 12,352 7,192 |
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| 272,851 241,288 | |
| 4,489 10,157 550 425 |
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| 5,039 10,582 | |
| 713 174 | |
| 713174 | |
| 278,903 244,852 | |
| 2024 2023 £ £ 1,538 1,923 600 600 |
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| 2024 2023 £ £ - - |
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| - - |
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| 204,457 213,645 2,459 - 30,029 29,100 |
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| 236,945 242,745 | |
| 2024 2023 £ £ 6,634 6,529 1,039 981 18,923 17,323 50 423 1,086 912 159 121 1,538 1,923 600 888 |
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| 30,029 29,100 |
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Wembdon Sunshiners Pre School
Notes to the accounts (cont.)
For the Year Ending 31 July 2024
Note 5 Tangible fixed assets
5.1 Cost or valuation
| At the beginning of the year Additions Revaluations Disposals At end of the year At beginning of the year Disposals Depreciation Impairment At end of the year Net book value at the beginning of the year Net book value at the end of the year Trade debtors Other debtors Total Note 6 Debtors and prepayments 5.3 Net book value 5.2 Depreciation and impairments |
Fixtures, Fittings & Equipment £ 16,459 - - - |
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|---|---|---|
| 16,459 |
Note 7 Creditors and accruals
| Amounts Trade creditors Accruals and deferred income Taxation and social security Total |
falling due within one year 2024 2023 £ £ - - 600 600 593 523 1,193 1,123 |
|---|---|
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Wembdon Sunshiners Pre School Notes to the accounts (cont.) For the Year Ending 31 July 2024
Note 8 Movement in Funds
| Unrestricted funds | Fund balances at 01/08/2023 £ |
Income £ |
Expenditure £ |
Transfers £ |
Fund balances at 31/07/2024 £ |
|---|---|---|---|---|---|
| Fundraising fund | 27,210 | 4,489 | - | 31,699 | |
| General | 40,999 | 262,062 | (234,486) | 68,575 | |
| Total Funds | 68,209 | 266,551 | **(234,486) ** | - | 100,274 |
| Restricted funds | Fund balances at 01/08/2023 £ |
Income £ |
Expenditure £ |
Transfers £ |
Fund balances at 31/07/2024 £ |
|---|---|---|---|---|---|
| Higher needsfunding | 8,518 | 12,352 | (2,459) | - | 18,411 |
| Total Funds | 8,518 | 12,352 | **(2,459) ** | - | 18,411 |
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