REGISTERED CHARITY NUMBER: 1025777
Report of the Trustees and Financial Statements
Year Ended 6 August 2023
Leven Pre-School
Southgates Chartered Certified Accountants 9 Market Place Hedon East Yorkshire HU12 8JA
Leven Pre-School
Contents of the Financial Statements for the year ended 6 August 2023
| 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 to 12 |
Leven Pre-School
Report of the Trustees for the year ended 6 August 2023
The trustees present their report with the financial statements of the charity for the year ended 6 August 2023. 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 a lot 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 continued to host a number of successful charity events, including a very successful Halloween party and retro night, a baby sensory Christmas session, children's Christmas party, Valentines party and Easter party. Alongside our annual Christmas treasure hunt and race night. Refreshments, raffles and tombola also hosted by committee at sports-day and graduation day events.
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 five 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 was sentenced to time in prison in January 2022. A payment of £7,114.79 was received on 2nd March 2023. There has been no further payments made to the Pre-School since that date. Any amounts received will enable the Pre-School to bring the reserves position back into a positive position.
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.
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.
Page 1
Leven Pre-School
Report of the Trustees for the year ended 6 August 2023
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1025777
Principal address
Leven Sports Hall North Street Leven East Yorkshire HU17 5NF
Trustees
Mrs J Dee (resigned 31/8/2022) Mrs R Cook Mrs E Forbes Mrs C Houghton (appointed 6/9/2022) Mrs J H Richardson Mrs M Brannan
Independent Examiner
Southgates Chartered Certified Accountants 9 Market Place Hedon East Yorkshire HU12 8JA
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 9 September 2024 and signed on its behalf by:
Mrs R Cook - 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 2023.
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
Southgates Chartered Certified Accountants Hedon
9 September 2024
Page 3
Leven Pre-School
Statement of Financial Activities
for the year ended 6 August 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 4,573 | 749 | |
| Other trading activities | 2 | 73,154 | 65,077 |
| Investment income | 3 | 28 | - |
| Total | 77,755 | 65,826 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Pre-school | 68,380 | 67,803 | |
| NET INCOME/(EXPENDITURE) | 9,375 | (1,977) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | (8,720) | (6,743) | |
| TOTAL FUNDS CARRIED FORWARD | 655 | (8,720) |
The notes form part of these financial statements
Page 4
Leven Pre-School
Balance Sheet
6 August 2023
| 2023 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 4,232 CURRENT ASSETS Stocks 8 - Debtors 9 697 Cash at bank 17,746 18,443 CREDITORS Amounts falling due within one year 10 (22,020) NET CURRENT ASSETS/(LIABILITIES) (3,577) TOTAL ASSETS LESS CURRENT LIABILITIES 655 NET ASSETS/(LIABILITIES) 655 FUNDS 11 Unrestricted funds 655 TOTAL FUNDS 655 |
2022 Total funds £ 3,584 80 507 8,329 8,916 (21,220) (12,304) (8,720) (8,720) (8,720) (8,720) |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 9 September 2024 and were signed on its behalf by:
R Cook - 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 2023
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 2023
2. OTHER TRADING ACTIVITIES
| Fundraising events Fees from parents ERYC funding Uniform sales Exceptional item - part return of funds stolen by former bookkeeper 3. INVESTMENT INCOME Deposit account interest 4. TRUSTEES' REMUNERATION AND BENEFITS |
2023 £ 4,914 11,540 49,585 - 7,115 73,154 2023 £ 28 |
2022 £ 1,038 17,177 46,716 146 - 65,077 2022 £ - |
|---|---|---|
There were no trustees' remuneration or other benefits for the year ended 6 August 2023 nor for the year ended 6 August 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 6 August 2023 nor for the year ended 6 August 2022.
5. 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. 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities Total EXPENDITURE ON Charitable activities Pre-school NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward |
2023 2022 5 10 Unrestricted fund £ 749 65,077 65,826 67,803 (1,977) (6,743) |
|---|---|
Page 7
Leven Pre-School
Notes to the Financial Statements - continued for the year ended 6 August 2023
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted | ||||||||
|---|---|---|---|---|---|---|---|---|
| fund | ||||||||
| £ | ||||||||
| TOTAL FUNDS CARRIED FORWARD | (8,720) | |||||||
| 7. | TANGIBLE FIXED ASSETS | |||||||
| Fixtures | ||||||||
| and | Computer | |||||||
| Equipment | fittings | Furniture | equipment | Totals | ||||
| £ | £ | £ | £ | £ | ||||
| COST | ||||||||
| At 7 August 2022 | 7,559 | 13,404 | 1,016 | 1,076 | 23,055 | |||
| Additions | 305 | - | 2,125 | - | 2,430 | |||
| At 6 August 2023 | 7,864 | 13,404 | 3,141 | 1,076 | 25,485 | |||
| DEPRECIATION | ||||||||
| At 7 August 2022 | 6,445 | 10,934 | 1,016 | 1,076 | 19,471 | |||
| Charge for year | 349 | 1,008 | 425 | - | 1,782 | |||
| At 6 August 2023 | 6,794 | 11,942 | 1,441 | 1,076 | 21,253 | |||
| NET BOOK VALUE | ||||||||
| At 6 August 2023 | 1,070 | 1,462 | 1,700 | - | 4,232 | |||
| At 6 August 2022 | 1,114 | 2,470 | - | - | 3,584 | |||
| 8. | STOCKS | |||||||
| 2023 | 2022 | |||||||
| £ | £ | |||||||
| Stocks | - | 80 | ||||||
| 9. | DEBTORS: AMOUNTS FALLING | DUE WITHIN | ONE YEAR | |||||
| 2023 | 2022 | |||||||
| £ | £ | |||||||
| Other debtors | 175 | - | ||||||
| Prepayments | 522 | 507 | ||||||
| 697 | 507 |
Page 8
Leven Pre-School
Notes to the Financial Statements - continued for the year ended 6 August 2023
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Trade creditors | 746 | 557 | ||
| Taxation and social security | 20,246 | 19,950 | ||
| Other creditors | 1,028 | 713 | ||
| 22,020 | 21,220 | |||
| 11. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 7.8.22 | in funds | 6.8.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | (8,720) | 9,375 | 655 | |
| TOTAL FUNDS | **(8,720) ** | 9,375 | 655 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 77,755 | (68,380) | 9,375 | |
| TOTAL FUNDS | 77,755 | **(68,380) ** | 9,375 | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 7.8.21 | in funds | 6.8.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | (6,743) | (1,977) | (8,720) | |
| TOTAL FUNDS | (6,743) | (1,977) | (8,720) | |
| Comparative net movement in funds, included in the above are as | follows: | |||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 65,826 | (67,803) | (1,977) | |
| TOTAL FUNDS | 65,826 | (67,803) | (1,977) |
Page 9
Leven Pre-School
Notes to the Financial Statements - continued for the year ended 6 August 2023
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 7.8.21 | in funds | 6.8.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | (6,743) | 7,398 | 655 |
| TOTAL FUNDS | (6,743) | 7,398 | 655 |
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 | 143,581 | (136,183) | 7,398 |
| TOTAL FUNDS | 143,581 | (136,183) | 7,398 |
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 6 August 2023.
Page 10
Leven Pre-School
Detailed Statement of Financial Activities
for the year ended 6 August 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Grants | 2,125 | - |
| Donations | 2,448 | 749 |
| 4,573 | 749 | |
| Other trading activities | ||
| Fundraising events | 4,914 | 1,038 |
| Fees from parents | 11,540 | 17,177 |
| ERYC funding | 49,585 | 46,716 |
| Uniform sales | - | 146 |
| Exceptional item - part return of funds stolen by | ||
| former bookkeeper | 7,115 | - |
| 73,154 | 65,077 | |
| Investment income | ||
| Deposit account interest | 28 | - |
| Total incoming resources | 77,755 | 65,826 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 56,422 | 59,857 |
| Pensions | 782 | 829 |
| Rent | 3,062 | 3,000 |
| Insurance | 768 | 754 |
| Subscriptions | 641 | 542 |
| Telephone | 689 | 649 |
| Administration | 719 | 467 |
| Advertising | 90 | 157 |
| Food purchases | 244 | - |
| Consumables | 462 | 400 |
| Equipment | - | 165 |
| Uniforms | 80 | 369 |
| Training | 549 | - |
| Cleaning | 174 | 176 |
| Activities | 250 | 306 |
| Repairs and renewals | 289 | 100 |
| Depreciation of tangible fixed assets | 1,783 | (1,274) |
| 67,004 | 66,497 | |
| Support costs | ||
| Finance | ||
| Bank charges | 14 | - |
This page does not form part of the statutory financial statements
Page 11
Leven Pre-School
Detailed Statement of Financial Activities
for the year ended 6 August 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Finance | ||
| Governance costs | ||
| Accountancy | 720 | 660 |
| Payroll expenses | 642 | 646 |
| 1,362 | 1,306 | |
| Total resources expended | 68,380 | 67,803 |
| Net income/(expenditure) | 9,375 | (1,977) |
This page does not form part of the statutory financial statements
Page 12