REGISTERED CHARrfY NUMBER: 1025650 Report of the Trnstees alld Un2udited Financial Ststements For The Year Ended 31st Jul). 2021 ror C12)don Pre-scbool John Phillips & Co Limited Accountants Unit 81 Centaur Court Clajdon Business Park Gt. Blakenh8m Ipsi%ich Suffolk IP6 ONL
Claydon Pre-school Contents ofthe Finallcial Statements For The Year Ended 31st Jul). 2021 Page Rep)rf of the Trusfres I to2 Independent Examinerfs Report Statem¢nl of Financial Activities Balance Sheet Notes lo the Financial Statements 61010 Detailed Statement ol Financial Activities
Claydon Pre-school Report of the Trnstees For The Year Euded 31$¢ July 2021 The trustees present their report is'ith the financial slatements of the charity for the )'ear ended 3 1st July 2021. The tsStee$ hav¢ adopi¢d the provisions of the Statement of Recommended Practice (SORP)'A¢counting and Reporting by Charities, issued in March 2005. REFERENCE AND ADMINISTRATtVE DETAILS Registered Charity number 1025650 Principal address Recreation Ground Thornhill Road Claydon Suffolk tP6 ODZ Trustees MsCLee Miss J Prentice Mr% J Curtis Mrs E J Parker Mrs E Goodchild Miss S Knighion Miss J N¢wman Ms K Vinecombe Ms A Markham Ms S Copeland - resigned 1611012020 resigned 1516n021 - resigned 919120?1 apw)inted 1611012090 aptKiinied 1611012020 appointed 1611012020 resigned 281812021 appointed 151612021 resigned 101912021 aptK)inted 131712021 Mrs J Day Mrs L Stanford Independent examiner John Vhillips and Co Ltd John Phillips & Co Limited Accountant5 Unit 81 Centaur Court Claydon Business Park Gi. Blak¢nham Ipswich Suffolk IP6 ONL STRUCTURE, GOVERNANCE AND MANAGELENT Governing document Th¢ charity. is controlled by its governing do¢umenL a deed of trusL and constitutes an unincorporated charity. Page I
Claydon Pre-school Report of the Trustees ForTbe Year Ended 31st Julv 2021 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management The trustees haN'e 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 eOr. FINANCIAL REVIEW Reserves poliey The Reserves Policy of the Charity. has been prepared and is %NTitten in the light of the Charity Commissioners, giuidance "Ch8riii¢S and Reserves" The Reserves Polic). is detailed in a scparatc appendix to the accounts. Approved by order of the board of ttustees on 26th (ktober 2021 and signed on its behalf by: Ms A Markham - Trustee Page 2
ludependent Eraminer's Report to the Trustees of Cla)don Pre-school I report on the accounts for th¢ yvar ended 3 1st Jul). 2021, which are set out on page5 four to ten. Responsibilities and basis of report As the charitv's trustees )'ou are responsible for the preparation of the accounts in ac¢ordan¢e with the requirements of the Charities Act 2011 ('the Act,). I have examined your charity's accounts a5 required under section 145 of the Charities Aci 2011 ('the Act,). In carrying out my examination I have folloi%'ed the Direciions given by the Charity Comtnission under section 145(5Xb) of the 2011 Aci. My role is to state whether any material matters have ¢om¢ to my attenlion giving me cause to believe.. that aicounling records ii'ere not kept as required by section 130 of the Acl; or that the accounts do not accord w'iih Ihos¢ records. or that Ihe accounts do not comply with the accounting requiretnents of the Act- or that there is further inforniation needed for a proper understsnding of the accounts. Independent examiner's statemeD¢ I have completed my examination and haN'e no con¢ems in respeci of the mauers (l ) 10 (4) listed above and, in ¢onneclion with following the Directions of the Charity Commission I have found no matters tliat requir¢ drai%'in&F to )'OLir attention. Oh PhLLUps L Q Ld John Phillips and Co Ltd John Phillips & Co Limited Accountants Unit 81 Centaur Court Clajdon Bu.siness Park Gt. Blakcttham Ipswich Suffolk IP6 ONL 26th October 2021 Page 3
Claydon PtT•School Statement of Finxllcial AetiTrities ForThe Year Ended 31stJulv 2021 2021 2020 Total funds Unrestricted fund Not¢s INCOMING RESOURCES Incoming resources from generated funds Activities for generating funds Investment income IncoTning resources from charitable activities Grants Other incoming resources 51,749 182 30.261 755 139388 3,747 103,934 14,176 Total incoming resources 195266 149.126 RESOURCES EXPENDED Costs of geneT#ting funds F'undraising trading.. cost of gryxls sold and other cost5 Other resources expellded {28) 203B70 823 144,002 Total resources expended 203842 144,825 NET INCOMINGI(OUTGOING) RESOURCES {8 176) 4.301 RECONCILIATION OF FUNDS Total funds brought fonvard 142,011 137,710 TOTAL FUNDS CARRIED FORWARD 133,435 142,011 The notes fonn part of these financial statements Page 4
Claydon Pre-sch(1 Balanee Sheet A¢ 315t Jul). 2021 2021 Ullrestrieted 2020 Total funds Notes CURRENT ASSETS Stocks Debtors c.ash at bank and in hand 386 138,073 3,365 145,470 138,459 148,838 CREDITORS Amounis falling due '1th1 one year (5.024) (6,827) NET CURRENT ASSETS 133,435 142,011 TOTAL ASSF.TS LESS CURRENT LIABILITIES 133,435 142.011 NET ASSETS 133,435 142,01 FUNDS Unrestricted funds 133,435 142,011 TOTAL FUNDS 133,435 142.01 The financial statements were approved by the Board of TTUStees on 26th October 2021 and were signed on its behalf by.. Ms A Markham -Trustee The notes form part of these financial statements Page 5
Clajdoll Pre+School Notes to the Fin2n¢ial Statements For The Year Ended 31st July 2021 ACCOUNTING POLICIES Accounting convention The financial statements haTr'e been prepared under the hislorical cost convention, and in aLcordan¢c with the Financial ReFK>rting Standard for Smaller Eniilies (effectiN'e April 2008), the Charities Act 2011 and the requirements of ihe Stsiement of Recommended Pracii¢e, Accounting and Reporting by Charities. Incoming resources All incoming resources are included on the Statemenl of Financial Activities when the charity is legally entitled to the income and ihe amount can be quantified with reasonable accuracy. Resource5 expended EKpendilure is accounted for on an ac¢ruals basis and ha5 been classified under headin8S that aggregate all cost related io the category. Where cosls cannot be directly attributed to particular heading5 they hal'e been allocat¢d lo aciivities on a basis consistent with the use of resour¢¢s. Stock8 Stocks are valued at the lower of cost and net realisable value. after makin8 due 8llowan¢¢ for obsoleie and slow moving items. Taxation The charity is exempl from tax on its chariiable activities. Fund aecouDting lJnrestriLted funds can be used in accordance with the charitsble objtttives at the discretion of the trnstees. R¢slricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions aris¢ when Splfied by the donor or when fvnds are rnised for particular reslricled purposes. Further explanaiion of the nature and purpose of each fund is included in the noies io the financial slat¢m¢nts. Hire purchase and leasing commitments Rentals paid under operating leases are charged to the Statement of Financial Activitie5 on a straight line b&sis over the period of the lease. ACTIVITIES FOR GENERATING FUNDS 2021 2020 Fundraising events Other income F¢¢s 3,096 4J35 44J18 2,601 2,150 25,510 51,749 30,261 Page 6
Clai'don Pre-school Notes to the Fillaneial Statements- conlinued For The Year Euded 31stJuty 2021 INVESTMENT INCOME 2021 2020 Deposit account interest 182 755 TRUSTEES, REMUNERATION AND BENEFrrs There were no trustees, reTnuneration or other benefits for the year ended 31 st July 2021 nor for the year ended 3 Isi July 2020. Trustees, expenses There were no trustees. expenses paid for the year ended 3 1st July 2021 nor for the year ended 3 1st July 2020. STAFF COSTS 2021 2020 Wages and salaries 121J74 121,254 The average monthly number of employees during the year was as follows.. 2021 li 2020 No employees re¢eiV emoluments in excess of £60,000. STOCKS 2021 2020 Stocks DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Trade debtors Other debtors 166 220 939 2,426 386 3,365 Page 7
Clavdon Pre-school Notes to the Finan¢ial Statements- continued For The Year Ended 31stJuly 2021 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Trade creditors S(121 securit>. and other taxes Other creditors Pension Fund Accru¢d expenses 41 105 410 2,362 257 3.693 3,475 627 5,024 6.827 MOVEMEN[ tN FUNDS Net At 1.820 in funds At 31.7.21 Ullrestricted funds General fund 142,011 (8576) 133,435 TOTAL FUNDS 142,011 (8576) 133.435 N£t movement in funds, included in the aknve are as follows: Resources eipended Movement in funds resource5 Unrestricted funds General fund 195266 {203042) {8576) TOTAL FUNDS 19)266 {203I42) {8576) Page 8
Clavdon PSCh(lO1 Notes to the Fillancial Statements- continued For The Year Ended 31stJuly 2021 MOVEMENT IN FUNDS- contiDued Comparatives for movement itt fuDd5 Net movement in funds At 13.19 At 31.7.20 Uures¢rie¢ed Funds General fund 137,710 4JOI 142,011 TOTAL FUNDS 137,710 4JOI 142,011 Comparative net movement in funds included in the above ar¢ &s follows.. Incoming Resourtes Movement in resources expended funds Unrestri¢ted funds General fund 149.126 (144825) 4JOI TOTAL FUNDS 149,126 (144825) 4JOI A current year 12 months and prior )'ear 12 months combined position is as follows= Net mo%'ement ID fuDds At 1.8.19 At31.7.21 Unrestricted funds G¢neral fund 137,710 (4,275) 133,435 TOTAL FUNDS 137,710 (4,275) 133,435 Page 9
ClaTrdoD Pre-sehil Notes to the Finaneial Statements- continued For Tbe Year Ended 31st Julv 2021 MOVEMENT IN FUIYDS- continued A ciirr¢nt year 12 months and prior year 12 months combined net movement in fvnds. included in the abov¢ are as folloivs.. In¢oming Resources expended Movement in funds Unreslrieted funds General fund 344J92 (348,667) (4275) TOTAL FUNDS 344J92 (348,667) {4275) Page 10
Claydon P-SehO0l Detailed Statement of Fittallcial Activities For The Year Ended 31st July 2021 2021 2020 INCOMING RESOURCES Activities for getter*tiNg funds Fundraising events Other income Fees 3,096 2,601 2,150 25,510 44,318 51,749 30.261 Investmenl income Deposit a¢¢ount interest 182 755 Incoming resources from charit8ble activities Grants from SCC/S¢n¢o 139588 IOJ,934 Other incoming resources Covid Grants 3,747 14.176 TotAI incoming resourees 195,266 149.126 RESOURCES EXPENDED FundrAi$ing trgding: Cost of goods sold and other ¢o$ts Fundraising expenses (28) 823 Other resources expended Wages Premises expenses 121J74 27a68 121,254 349 148,742 121,603 Support costs Mallagement Other Insurance Li1 and heat Telephone Postage and slationery Health & Safety Cleaning Carried forward ,105 ,145 460 2,084 138 933 5,865 1591 438 2,407 379 6,814 Thi5 pagc does not fonn part of the statutory. financial stateTnents Pagell
Claydon Pre-school Detailed sts1emet of Financial Activities ForThe Year Ended 31st Jul). 2021 2021 2020 Management Brought forward Rent & Raies Refuse 6,814 1,910 1.928 5,865 1,647 874 10,652 8,386 Finallce Bank Lharges Other Travel & subs Cost of trips Equipment from fundraising Unifomi sOft.are Refreshments RLP£1irs and renew'als Equipment Stall'Training / Welfare Gifts Pet Care Bad Debis R¢cruilment 92 101 153 11,914 1,697 1,843 1,991 12Jf18 3,9YO IJ03 659 36 603 1.451 585 3,406 2.165 1.803 447 92 47 143 90 36,171 10,637 Legal and ProfessionAI A¢countan¢y and legal fees L¢gal Fe¢s 648 7,565 552 2.723 8,213 3,275 Total resources expended 203,842 144.825 Net (expenditure)lincome {8J76) 4,301 This page do¢s not form part of the statutory. financial statements Page 12
Thornhill Road Claydon Ipswich Suffolk IP6 ODZ Tel: 01473 831648 admin cla don reschool.co.uk Reserves Polic Introduction This policy is written in the light of the Charity Commissioners. guidance "Charities and Reserve5" ICC19, March 20101 which states: "All choritie5 need to develop o policy on reserve5 which estoblishes a level of reserves thot is rightfor the charity and clearly exploins to its stakeholder5 why holding these reserves 15 nece5sory." {CC19 page 71. "Reserves ore thot part of a charity's unrestrictedfund5 thot isfreely availoble to spend on any of the charity's purposes. This definition excludes restricted incomefunds ond endowmentfunds, olthough holding such funds may influence o chority's reserves policy. Reserves will olso normally exclude tangiblefixed Gsset5 heldfor the charity'5 use Gnd amounts designatedfor essentialfuture spending." ICC19 page 61. More specifically SORP 2000 defines reserves as income which becomes available to the charity and is to be spent at the trustees, discretion in furtherance of any of the charity's object5 (sometimes referred to as 'general purpose, incomel- but which is not yet spent, committed or designated lie is 'f ree'l. This definition of reserves therefore normally excludes permanent endowment- expendable endowment. restricted fund5,' any part of unrestrirted funds not readily available for spending, specifically.. income funds which could only be realised by disposin8 of fixed assets held for charity use and programme related investments. The reserves policy should cover as a minimum: the reason why the charity needs reserves: ICC19 page 7) what level lor rangel of reserves the trustees believe the charity need5. ICC19 page 91 what steps the charity is going to take to establish or maintain reserves at the agreed level lor rangel,. (CC19 page 91 and arrangements for monitoring and reviewing the policy. ICC19 page 91. Registered Chority No. 10256 otsted Regtstrotion EY419077
don Pre-school needs Reserves Income Income varies from term to term, dependant on the number of children attending the Pre-school, age of children, and qualifications of staff. Sources of income are from privately funded children, Early Education Funding, sales of uniform and fundraisinv0luntary donations. Planning for contingencies Upkeep of premises= Claydon Pre-school does not own the building from which it operates, and therefore is not responsible for its general upkeep. However. it 15 responsible for the outside area, so therefore Claydon Pre-school has decided it needs to have £lO.tK)O available for emergency repairs, in order that it could continue the services run from those premises. Winding up charity: Claydon Pre-school has decided that. in the event of the organisation having to be wound up, it would need to have six month's running c05ts1£90.8251 in reserves to allow for a proper running down. Redundancy.. Claydon Pre-school has decided to keep a sum of Ell.109 to cover redundancy. Short-term deficit= Claydon Pre-school has decided that it needs to keep £62,217 in reserves to 351ow for one school term of running costs should there be a short-term deficit. Unforeseen operational costs: (e.g. employing temporary staff to cover a long-term sick absence) Claydon Pre-school has decided to keep a sum of £12.000.00. The level or ran of reserves the trustees believe Cla don Pre-school needs As at 31st July 2021 Claydon Pre-school's average monthly expenditure was £15.554. This includes an average monthly salary bill of around £11,392. Claydon Pre-school has decided to aim to keep reserves equNalent to six month's expenditure la sum of £90,825) Establishin and maintainin reserves at the a reed level Claydon Pre-school has agreed to aim for a reseryes figure of £90,825. Currently, las at 31, July 20211 it has free reserves of £86,46S.34. The current level of reserves, therefore. is equivalent to 5.6 month's expenditure. Monitorin and reviewin the reserves This policy will be reviewed annually by the Trustees of Claydon Pre-school Producedby the FffnanceAdministrntorolClaydon Pre-school- Ortober2021 Regtslered ch(tY No. 10256S) Ofsted Registrolion EY419077