REGISTERED CHARITY NUMBER: 1025777
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
YEAR ENDED 6 AUGUST 2021
Leven Pre-School
Southgates Chartered Certified Accountants Owthorne Manor 2 Hubert Street Withernsea East Yorkshire HU19 2AT
Leven Pre-School
CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 6 August 2021
| Page | |
|---|---|
| Report of the trustees | 1 to 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 to 10 |
| Detailed statement of financial activities | 11 |
Leven Pre-School
REPORT OF THE TRUSTEES
for the year ended 6 August 2021
The trustees present their report with the financial statements of the charity for the year ended 6 August 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
The objective of the Pre-school is to enhance the development and education of children from the age of 2 years old until they start primary school. This is open to all children within the local community, regardless of race, culture, religion, means or ability. The strategy for doing this is to employ trained staff and provide suitable equipment which allows the Pre-school to work within the regulations and guidelines set by Ofsted.
ACHIEVEMENT AND PERFORMANCE
During the past year the Pre-school has had a large intake of children with some leaving this year to start their education at the local Primary schools. These children have left having already started to achieve many of the early learning goals. All children have been given the opportunity to learn through play, one to one learning and exploration in the enclosed nature park.
The committee were unable to do many fundraising events again this year. The coronavirus which began at the start of 2020, continued into 2021. This stopped the preschool being able to conduct the usual fundraising activities. We still held our annual Christmas treasure hunt and raffle. The preschool managed to keep afloat whilst closing for a time and eventually reopened in bubbles towards the end of the year. This allowed us to hold a socially distanced sport day raising much needed funds.
FINANCIAL REVIEW
The policy of the Trustees is to aim to keep between 3 and 6 months expenditure in reserve at all times. This will enable the Pre-school to keep running during the first term of the year when finances are always a struggle due to numbers of children falling.
The principle funding sources are fees received from parents, ERYC funding for 2, 3 and 4 years old up to 5 sessions per week, fundraising run by the committee and occasionally grants that are available.
In 2019 it became apparent a large financial loss had been made due to fraudulent activity over several years by the previous treasurer. The total potential loss because of this fraud was £49,875. This treasurer was removed at the start of 2019 and extra financial policies have been implemented to ensure this does not happen again.
The previous treasurer pleaded guilty and is currently awaiting sentence. Once the outstanding debt is repaid the charity will replenish the reserves.
FUTURE PLANS
The Trustees plan to continue the activities outlined above in the forthcoming years subject to satisfactory funding arrangements and continued demand by the local community.
The pre-school will continue to work within Ofsted Regulations.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Page 1
Leven Pre-School
REPORT OF THE TRUSTEES
for the year ended 6 August 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
The constitution, which is the governing document, specifies the aims and powers of the pre-school and states the requirements for the election and running of a committee, when the AGM should be held and ensures that proper accounting records are kept, which comply with current legislation.
The Trustees are appointed at the AGM and can be parents/relatives of children who attend the pre-school, or anybody within the local community, who is not in paid employment by the pre-school. No other person can appoint a trustee.
The pre-school employ a manager who is not a trustee or member of the committee and therefore cannot vote on any decisions made.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1025777
Principal address
Leven Sports Hall North Street Leven East Yorkshire HU17 5NF
Trustees
Mrs G Barugh Mrs F Nicholson (resigned 31/8/2020) Mrs E Hutchinson (resigned 27/9/2021) B Bates (resigned 7/9/2020) Mrs H Wilkinson (resigned 16/9/2020) Mrs H Train (appointed 11/11/2020) (resigned 27/9/2021) Mrs J Dee (appointed 11/11/2020) Mrs R Cook (appointed 11/11/2020) Mrs E Forbes (appointed 27/9/2021)
Independent Examiner
Southgates Chartered Certified Accountants Owthorne Manor 2 Hubert Street Withernsea East Yorkshire HU19 2AT
FUNDS HELD AS CUSTODIAN FOR OTHERS
There are no funds held as custodian trustees on behalf of others.
Approved by order of the board of trustees on 30 December 2021 and signed on its behalf by:
Mrs G Barugh - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LEVEN PRE-SCHOOL
Independent examiner's report to the trustees of Leven Pre-School
I report to the charity trustees on my examination of the accounts of Leven Pre-School (the Trust) for the year ended 6 August 2021.
Responsibilities and basis of report
As the charity 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 Act and in carrying out my examination I have followed all 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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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 in order to enable a proper understanding of the accounts to be reached.
Antony Rookes FCCA Southgates Chartered Certified Accountants Withernsea
30 December 2021
Page 3
Leven Pre-School
STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 6 August 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Other trading activities 2 69,902 EXPENDITURE ON Charitable activities Pre-school 70,569 NET INCOME/(EXPENDITURE) (667) RECONCILIATION OF FUNDS Total funds brought forward (6,076) TOTAL FUNDS CARRIED FORWARD (6,743) |
2020 Total funds £ 71,579 66,319 5,260 (11,336) (6,076) |
|---|---|
The notes form part of these financial statements
Page 4
Leven Pre-School
BALANCE SHEET
6 August 2021
| 2021 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 967 CURRENT ASSETS Stocks 7 107 Debtors 8 500 Cash at bank and in hand 10,971 11,578 CREDITORS Amounts falling due within one year 9 (19,288) NET CURRENT ASSETS/(LIABILITIES) (7,710) TOTAL ASSETS LESS CURRENT LIABILITIES (6,743) NET ASSETS/(LIABILITIES) (6,743) FUNDS 10 Unrestricted funds (6,743) TOTAL FUNDS (6,743) |
2020 Total funds £ 2,070 141 750 11,293 12,184 (20,330) (8,146) (6,076) (6,076) (6,076) (6,076) |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 30 December 2021 and were signed on its behalf by:
G Barugh - Trustee
The notes form part of these financial statements
Page 5
Leven Pre-School
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 6 August 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Equipment | - Straight line over 5 years |
|---|---|
| Fixtures and fittings | - Straight line over 10 years |
| Furniture | - Straight line over 5 years |
| Computer equipment | - Straight line over 5 years |
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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.
Page 6
Leven Pre-School
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 6 August 2021
2. OTHER TRADING ACTIVITIES
| Fundraising events Fees from parents ERYC funding Uniform sales Job Retention Scheme grant income |
2021 £ 1,259 9,556 58,768 319 - 69,902 |
2020 £ 1,357 9,422 58,592 277 1,931 |
|---|---|---|
| 71,579 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 6 August 2021 nor for the year ended 6 August 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 6 August 2021 nor for the year ended 6 August 2020.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Pre-school wages No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Other trading activities EXPENDITURE ON Charitable activities Pre-school NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 2020 7 6 Unrestricted fund £ 71,579 66,319 5,260 (11,336) (6,076) |
|---|---|
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
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Leven Pre-School
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 6 August 2021
6. TANGIBLE FIXED ASSETS
| Fixtures and Computer Equipment fittings Furniture equipment £ £ £ £ COST At 7 August 2020 and 6 August 2021 6,216 13,404 1,016 1,076 DEPRECIATION At 7 August 2020 6,061 11,489 1,016 1,076 Charge for year 95 1,008 - - At 6 August 2021 6,156 12,497 1,016 1,076 NET BOOK VALUE At 6 August 2021 60 907 - - At 6 August 2020 155 1,915 - - 7. STOCKS 2021 £ Stocks 107 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 £ Other debtors - Prepayments 500 500 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 £ Trade creditors 800 Taxation and social security 17,833 Other creditors 655 19,288 |
Totals £ 21,712 19,642 1,103 20,745 967 2,070 2020 £ 141 2020 £ 246 504 750 2020 £ 1,800 17,744 786 20,330 |
|---|---|
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Leven Pre-School
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 6 August 2021
10. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 7.8.20 | in funds | 6.8.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | (6,076) | (667) | (6,743) |
| TOTAL FUNDS | (6,076) | (667) | (6,743) |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 69,902 | (70,569) | (667) |
| TOTAL FUNDS | 69,902 | (70,569) | (667) |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| At 7.8.19 | in funds | 6.8.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | (11,336) | 5,260 | (6,076) |
| TOTAL FUNDS | (11,336) | 5,260 | (6,076) |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 71,579 | (66,319) | 5,260 |
| TOTAL FUNDS | 71,579 | (66,319) | 5,260 |
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Leven Pre-School
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 6 August 2021
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 7.8.19 | in funds | 6.8.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | (11,336) | 4,593 | (6,743) |
| TOTAL FUNDS | (11,336) | 4,593 | (6,743) |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 141,481 | (136,888) | 4,593 |
| TOTAL FUNDS | 141,481 | (136,888) | 4,593 |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 6 August 2021.
12. GOING CONCERN
The going concern of the charity is dependent on upon the continued financial support of it's creditors. There is no indication this will not continue in the future.
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Leven Pre-School
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 6 August 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Other trading activities | ||
| Fundraising events | 1,259 | 1,357 |
| Fees from parents | 9,556 | 9,422 |
| ERYC funding | 58,768 | 58,592 |
| Uniform sales | 319 | 277 |
| Job Retention Scheme grant income | - | 1,931 |
| 69,902 | 71,579 | |
| Total incoming resources | 69,902 | 71,579 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 59,538 | 56,192 |
| Pensions | 657 | 586 |
| Rent | 3,000 | 3,068 |
| Insurance | 754 | 732 |
| Subscriptions | 520 | 431 |
| Telephone | 704 | 641 |
| Administration | 320 | 244 |
| Advertising | 169 | 145 |
| Consumables | 579 | 560 |
| Equipment | 710 | 510 |
| Uniforms | 391 | 350 |
| Training | 470 | 100 |
| Cleaning | 204 | 139 |
| Activities | 186 | 275 |
| Repairs and renewals | 60 | 60 |
| Travel expenses | 18 | - |
| Depreciation of tangible fixed assets | 1,103 | 1,103 |
| 69,383 | 65,136 | |
| Support costs | ||
| Governance costs | ||
| Accountancy | 600 | 600 |
| Payroll expenses | 586 | 583 |
| 1,186 | 1,183 | |
| Total resources expended | 70,569 | 66,319 |
| Net (expenditure)/income | (667) | 5,260 |
This page does not form part of the statutory financial statements
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