Marhamchurch Pre School
Charity No. 1024873
Trustees' Report and Unaudited Accounts
31 August 2022
Marhamchurch Pre School Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Statement of Cash flows | 7 to 13 |
| Notes to the Accounts | 14 |
| Detailed Statement of Financial Activities | 15 to 16 |
Page 1
Marhamchurch Pre School Trustees Annual Report
Marhamchurch Pre School
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 August 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1024873
Trustees
The following trustees served during the year:
E. Hawkins
- G. Pearson
J. Teague
Accountants
Buttons Accounting Ltd
Prospect House
11 Western Road
Launceston Cornwall PL15 7AS
OBJECTIVES AND ACTIVITIES
To provide education and to enhance development of children under statutory school age by encouraging parents to provide
for needs of their children
Provide a safe, caring environment for pre-school aged children to prepare them for entry into school
We confirm that trustees have had regard to guidance issued by charity commision on public benefit
ACHIEVEMENTS AND PERFORMANCE
Provide full day care from 8.30am to 3.30pm reaching up to 30 children
FINANCIAL REVIEW
The Pre-school holds monetary reserves in excess of £5,000 which is a level that the committee is of opinion is sufficient to meet the future needs of the pre-school.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The trustees were elected at an AGM by democratic process
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 2
Marhamchurch Pre School Trustees Annual Report
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
G. Pearson Trustee 31 August 2022
Page 3
Marhamchurch Pre School Independent Examiners Report
Independent Examiner's Report to the trustees of Marhamchurch Pre School
I report to the trustees on my examination of the financial statements of Marhamchurch Pre School for the year ended 31 August 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the charity's financial statements 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 can 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:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 in order to enable a proper understanding of the financial statements to be reached.
Emma Gilbert ACCA Buttons Accounting Ltd Prospect House 11 Western Road Launceston Cornwall PL15 7AS 31 August 2022
Page 4
Marhamchurch Pre School Statement of Financial Activities for the year ended 31 August 2022
| Notes Income and endowments from: Donations and legacies 3 Other trading activities 4 Investments 5 Other 6 Total Expenditure on: Raising funds 7 Other 8 Total Net gains on investments Net (expenditure)/income 9 Transfers between funds Net (expenditure)/income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds |
Total funds | Total funds | |
|---|---|---|---|---|
| 2022 | 2022 | 2021 | ||
| £ | £ | £ | ||
| 645 | 645 | 6,540 | ||
| 69,792 | 69,792 | 88,685 | ||
| 38 | 38 | 51 | ||
| - | - | 593 | ||
| 70,475 | 70,475 | 95,869 | ||
| 1,087 | 1,087 | 1,794 | ||
| 82,484 | 82,484 | 86,516 | ||
| 83,571 | 83,571 | 88,310 | ||
| - | - | - | ||
| (13,096) | (13,096) | 7,559 | ||
| - | - | - | ||
| (13,096) | (13,096) | 7,559 | ||
| (13,096) | (13,096) | 7,559 | ||
| 121,139 | 121,139 | 113,580 | ||
| 108,043 | 108,043 | 121,139 | ||
Page 5
Marhamchurch Pre School Balance Sheet
at 31 August 2022
| Charity No. 1024873 Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors:Amount falling due within one year 13 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 14 Unrestricted funds 14 General funds Reserves 14 Total funds Approved by the trustees on 31 August 2022 |
2022 £ 100,710 100,710 70 13,644 13,714 (6,381) 7,333 108,043 108,043 108,043 108,043 108,043 108,043 |
2021 £ 100,840 |
|---|---|---|
| 100,840 770 25,598 |
||
| 26,368 (6,069) |
||
| 20,299 121,139 |
||
| 121,139 | ||
| 121,139 | ||
| 121,139 | ||
| 121,139 | ||
| 121,139 | ||
And signed on their behalf by:
G. Pearson Trustee 31 August 2022
Page 6
Marhamchurch Pre School Notes to the Accounts
for the year ended 31 August 2022
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
-
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 7
Marhamchurch Pre School Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other 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. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 8
Marhamchurch Pre School Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 9
Marhamchurch Pre School
Notes to the Accounts
2 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Other trading activities Investments Other Total Expenditure on: Raising funds Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Grants and donations 4 Income from other trading activities Fees |
Unrestricted £ 624 21 645 Unrestricted £ 69,792 69,792 |
Unrestricted funds 2021 £ 6,540 88,685 51 593 95,869 1,794 86,516 88,310 7,559 7,559 7,559 113,580 121,139 Total 2022 £ 624 21 645 Total 2022 £ 69,792 69,792 |
Total funds 2021 £ 6,540 88,685 51 593 |
|---|---|---|---|
| 95,869 1,794 86,516 |
|||
| 88,310 | |||
| 7,559 | |||
| 7,559 | |||
| 7,559 113,580 |
|||
| 121,139 | |||
| Total 2021 £ 6,540 - |
|||
| 6,540 | |||
| Total 2021 £ 88,685 |
|||
| 88,685 |
Page 10
Marhamchurch Pre School Notes to the Accounts
5 Income from investments
| Interest received 6 Other income Coronavirus job retention grant 7 Expenditure on raising funds Costs of generating voluntary income Grants and donations 8 Other expenditure Employee costs Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 9 Net (expenditure)/income before transfers This is stated after charging: Depreciation of owned fixed assets |
Unrestricted £ 38 38 Unrestricted £ 17 165 25 880 1,087 Unrestricted £ 74,253 41 2,982 130 3,452 1,626 82,484 2022 £ 130 |
Total 2022 £ 38 38 Total 2022 £ - - |
Total 2021 £ 51 |
|---|---|---|---|
| 51 | |||
| Total 2021 £ 593 |
|||
| 593 | |||
| Total 2022 £ 17 165 25 880 1,087 Total 2022 £ 74,253 41 2,982 130 3,452 1,626 82,484 |
Total 2021 £ 143 122 15 1,514 |
||
| 1,794 | |||
| Total 2021 £ 78,800 - 2,612 153 3,080 1,871 |
|||
| 86,516 | |||
| 2021 £ 153 |
Page 11
Marhamchurch Pre School Notes to the Accounts
| 10 Staff costs Salaries and wages Social security costs Pension costs No employee received emoluments in excess of £60,000. 11 Tangible fixed assets Cost or revaluation At 1 September 2021 At 31 August 2022 Depreciation and impairment At 1 September 2021 Depreciation charge for the year At 31 August 2022 Net book values At 31 August 2022 At 31 August 2021 12 Debtors Trade debtors 13 Creditors: amounts falling due within one year Trade creditors Other taxes and social security Other creditors Accruals |
2022 68,568 2,995 2,147 73,710 £ 99,973 99,973 - - - 99,973 99,973 2022 £ 70 70 2022 £ 1,101 208 4,934 |
£ 1,200 1,200 333 130 463 737 867 |
2021 72,156 3,422 2,210 |
|---|---|---|---|
| 77,788 | |||
| £ 101,173 |
|||
| 101,173 | |||
| 333 130 |
|||
| 463 | |||
| 100,710 | |||
| 100,840 | |||
| 2021 £ 770 |
|||
| 770 | |||
| 2021 £ 501 337 5,068 |
|||
| 138 | 163 | ||
| 6,381 | 6,069 |
Page 12
Marhamchurch Pre School Notes to the Accounts
14 Movement in funds
| Restricted funds: Unrestricted funds: General funds Total funds 15 Analysis of net assets between funds Fixed assets Net current assets 16 Reconciliation of net debt Cash and cash equivalents Net debt |
At 1 September 2021 121,139 121,139 |
Incoming resources (including other gains/losses ) £ 70,475 70,475 At 1 September 2021 £ |
Resources expended £ (83,571) (83,571) Unrestricted funds £ 100,710 7,333 108,043 Cash flows £ |
At 31 August 2022 £ 108,043 |
|---|---|---|---|---|
| 108,043 | ||||
| Total £ 100,710 7,333 |
||||
| 108,043 | ||||
| At 31 August 2022 £ |
||||
| 25,598 | (11,954) | 13,644 | ||
| 25,598 25,598 |
(11,954) (11,954) |
13,644 | ||
| 13,644 | ||||
| 17 Commitments Operating lease commitments Annual commitments under non-cancellable operating leases 2022 Land and buildings £ Operating leases with expiry date: Pension commitments The pension cost charge to the charity amounted to: |
are as follows: 2022 Other £ 2022 £ 2,147 |
2021 Land and buildings £ |
2021 Other £ 2021 £ - |
Page 13
Marhamchurch Pre School Statement of Cash flows for the year ended 31 August 2022
| Cash flows from operating activities Net (expenditure)/income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Decrease/(Increase) in trade and other receivables Increase/(Decrease) in trade and other payables Net cash (used in)/provided by operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2022 £ (13,096) 130 (38) 700 312 (11,992) 38 38 - (11,954) 25,598 13,644 |
2021 £ 7,559 153 (644) (770) (1,507) |
|---|---|---|
| 4,791 644 |
||
| 187 | ||
| - | ||
| 4,978 | ||
| 31,346 | ||
| 36,324 | ||
| Components of cash and cash equivalents | ||
| Cash and bank balances | 13,644 | 25,598 |
| 13,644 | 25,598 |
Page 14
Marhamchurch Pre School Detailed Statement of Financial Activities
for the year ended 31 August 2022
| Income and endowments from: Donations and legacies Grants and donations Other trading activities Fees Investments Interest received Other Coronavirus job retention grant Total income and endowments Expenditure on: Costs of generating donations and legacies Grants and donations Total of expenditure on raising funds Employee costs Salaries/wages Employer's NIC Pension costs Staff training Staff welfare Motor and travel costs Business mileage costs reimbursed Premises costs Rent Rates |
Unrestricted funds 2022 £ 624 21 645 69,792 69,792 38 38 - - 70,475 17 165 25 880 1,087 1,087 68,568 2,995 2,147 518 25 74,253 41 41 900 551 |
Total funds 2022 £ 624 21 645 69,792 69,792 38 38 - - 70,475 17 165 25 880 1,087 1,087 68,568 2,995 2,147 518 25 74,253 41 41 900 551 |
Total funds 2021 £ 6,540 - |
|---|---|---|---|
| 6,540 | |||
| 88,685 | |||
| 88,685 | |||
| 51 | |||
| 51 | |||
| 593 | |||
| 593 | |||
| 95,869 143 122 15 1,514 |
|||
| 1,794 | |||
| 1,794 72,156 3,422 2,210 766 246 |
|||
| 78,800 | |||
| - | |||
| - | |||
| 900 663 |
Page 15
Marhamchurch Pre School
Detailed Statement of Financial Activities
| Light, heat and power Premises cleaning Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of Equipment expensed Equipment leasing and hire charges General insurances Stationery and printing Subscriptions Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
872 620 39 2,982 130 - 190 623 1,046 796 797 3,582 1,626 1,626 82,484 83,571 - (13,096) (13,096) - (13,096) 121,139 108,043 |
872 620 39 2,982 130 - 190 623 1,046 796 797 3,582 1,626 1,626 82,484 83,571 - (13,096) (13,096) - (13,096) 121,139 108,043 |
(568) 874 743 |
|---|---|---|---|
| 2,612 | |||
| 153 23 - 1,016 655 799 587 |
|||
| 3,233 | |||
| 1,871 | |||
| 1,871 | |||
| 86,516 | |||
| 88,310 - |
|||
| 7,559 | |||
| 7,559 - |
|||
| 7,559 | |||
| 113,580 | |||
| 121,139 |
Page 16