**Charity Registration No. 1026943**
## **MANOR FARM PRE-SCHOOL**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021**
## **MANOR FARM PRE-SCHOOL**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Steven Lamb|
|---|---|
||Emma-Louise Holeksa|
||Samantha Storey|
||Laura Vilelas|
||Matthew Storey|
||Nicola Fuller|
||Hilke Morison|
||Natasha Mitchell|
|**Charity number**|1026943|
|**Independent examiner**|Mr S Winterborne|
|**Bankers**|Barclays Bank|
||16 High St,|
||High Wycombe|
||HP11 2BG|
## **MANOR FARM PRE-SCHOOL**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 9|
## **MANOR FARM PRE-SCHOOL**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 AUGUST 2021**_
The trustees present their report and financial statements for the year ended 31 August 2021.
The financial statements have been prepared in accordance with the accounting policies set out in the note to the financial statements and comply with the charity's governing document, the 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 Republic of Ireland (FRS 102) (effective 1 January 2019)".
## **Objectives and aims**
T he trusteeship of the charity has oversight and governance of the charity, how it functions and it’s plans for each academic year. Our aim is to provide stability and support for the pre-school so that it is able to function without extra financial stresses and also support as and when needed. Part of the way we facilitate this is by running various fundraising campaigns throughout the year. We also meet up monthly as trustees and with the management team of MFPS to discuss how things are going at the Pre-School, if there are any areas of concern and what the plans are for the next 6-12 months.
## **Achievements and performance**
The Pre-School has had an excellent year by way of performance. After not only receiving glowing reports from parents of children at the school, last year we saw visits from Ofsted where the PreSchool received an Excellent – rating. The quality of education was given Outstanding, Behaviour and attitudes Outstanding, Personal development - Outstanding and Leadership and management also Outstanding.
The staff and management have worked tirelessly over the past few years to see the standards and quality improve and we are thrilled this was recognised by Ofsted.
The academic year started full and the preschool continues to have a strong waiting list. MFPS continues to have a good reputation for caring for children with additional needs and there was one child this year.
Forest school continues to be a great success with it being the highlight of the week for many children and their parents/carers. The children love to explore the woods, see what insects they can find and learn new topics.
## **Principal Funding source**
The charity receives no government funding except Gift Aid. It therefore is dependent on voluntary donations by parents and members of the local community through various fundraising projects. Because of this the income varies significantly from period to period. It is used to assist in both operational requirements and to facilitate the needs of capital expenditure.
## **Investment Policy**
There is no restriction upon the charity’s investment policy and the strategy is d etermined by the Trustees. The present strategy continues to be distribution of available funds into a deposit account.
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## **MANOR FARM PRE-SCHOOL**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **Risk Assessment**
The trustees have assessed the major risks that the Charity is exposed to and are satisfied that they have put the correct procedures in place to mitigate any exposure from these.
Economic and political factors, particularly the Covid-19 pandemic have proven a challenging time for the charity as it has faced extremely unpredictable times. It is still facing some level of disruption from this and expects to be experiencing the fall out of this for many years to come.
However, the trustees are confident in the practices and strategy in place to be able to weather this uncertainty. There are strong plans, and healthy budgets set as well as a good reserve to be able to keep the Charity on a strong financial standing for many years to come.
## **Future Plans**
The Charity's Trustees, who jointly serve as The Executive Committee of the Charity, are all unpaid volunteers. They are recruited from the Charity's supporters and are formally elected at an annual general meeting to serve for a maximum term of six years. Retiring trustees may offer themselves for immediate re-election at the appropriate annual general meeting. The Executive Committee has the authority to co-opt additional members to fill any midterm vacancies that may exist, but any such co-opted members must then seek formal election at the next annual general meeting. No external person or body has the authority to appoint trustees or members of the Executive Committee.
## **Financial review**
Final figure for the year was a deficit of £6,024 (2020: Surplus £6,193).
Donations were up 65% and other Income was dropped 23%. Education grant decreased by £22,546 to £115,838, bringing it to a similar value as reported in 2019.
Fees continue to be impacted by 30 hour and 2 year old funding from Government initiatives. Early bird club continues to be successful with a busy waiting list and future enquiries.
Total expenditure for 2020/21 including salaries, pensions and overall running costs of the Pre-School decreased by 16% to £156,246.
Wages were the most significant cost.
Taking the above into account we have had another strong financial year with despite a net deficit of £6,024. This decreased our total funds / assets to £106,802.
A revision of fundraising initiatives will be undertaken in 2022 by the new committee as this remains crucial income to support the Pre-school.
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## **MANOR FARM PRE-SCHOOL**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **Structure, governance and management**
The trustees who served during the year and up to the date of signature of the financial statements were: Steven Lamb
Emma-Louise Holeksa Samantha Storey Laura Vilelas Matthew Storey Nicola Fuller Hilke Morison Natasha Mitchell
## **Future Liabilities**
Each of the Trustees has confirmed that there is no information or liability of which they are aware which is relevant to the fabric of these Accounts, but of which the Independent Examiner is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the independent examiners are aware of all relevant information.
Considering the challenges MFPS and the world have faced with Covid-19 and the aftermath that still affects us, we are extremely happy with how things are. It is financially stable and has a strong, committed management team. This is reflected in the staff, the enjoyment they get from their work and the positive feedback from parents. There is already a waiting list for the start of the next academic year which is testament to all involved.
The trustees' report was approved by the Board of Trustees.
Mr Steve Lamb – Chair of Trustees
## Dated: 13th July 2022
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## **MANOR FARM PRE-SCHOOL**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE MANOR FARM PRE-SCHOOL**
I report to the trustees on my examination of the financial statements of Manor Farm Pre-School (the charity) for the year ended 31 August 2021.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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:
1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements to be reached.
Stephen Winterborne FCCA 18 Firs View Road, Hazlemere, HP15 7TD Dated: 15 July 2022
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## **MANOR FARM PRE-SCHOOL**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 AUGUST 2021**_
|||**Unrestricted**|Unrestricted|
|---|---|---|---|
|||**funds**|funds|
|||**designated**|designated|
|||**2021**|2020|
||**Notes**|**£**|**£**|
|**Income from:**||||
|Donations||2,915|1,771|
|Investments|**2**|10|75|
|Other income|**3**|147,297|190,301|
|**Total incoming resources**||150,222|192,147|
|**Expenditure on:**||||
|Raising funds||2,651|4,470|
|Charitable activities|**4**|153,595|181,484|
|**Total resources expended**||156,246|185,954|
|**Net movement in funds**||(6,024)|6,193|
|Fund balances at 1 September 2020||112,826|106,633|
|**Fund balances at 31 August 2021**||106,802|112,826|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
5
## **MANOR FARM PRE-SCHOOL**
## **BALANCE SHEET**
## _**FOR THE YEAR ENDED 31 AUGUST 2021**_
|**2021**
**£**
**£**
**Current assets**
Cash at bank and in hand
106,802
106,802
Net current assets
106,802
**Total assets less current liabilities**
106,802
**Income funds**
Unrestricted funds
106,802
106,802
The financial statements were approved by the Trustees on
and were signed on its behalf by:|**2020**
**£**
**£**
112,826
112,826
112,826
112,826
112,826
112,826|**2020**
**£**
**£**
112,826
112,826
112,826
112,826
112,826
112,826|
|---|---|---|
|||112,826|
|||112,826|
|||112,826|
||||
Mr Steve Lamb – Chair of Trustees
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## **MANOR FARM PRE-SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **1 Accounting policies**
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the 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 Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Income and expenditure has been recognised on a receipts and payments basis.
## **1.2 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
## **1.3 Incoming resources**
All income is included on a receipt’s basis at the point at which they are paid into the cash and bank accounts
## **1.4 Resources expended**
Expenditure is accounted for on a payments basis and has been classified under headings that aggregate all cos 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 the resources.
## **1.5 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. In making this assessment, the trustees have considered the impacts, and expected future impacts, of the Covid-19 pandemic on both the charity and the environment in which it operates. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
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## **MANOR FARM PRE-SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 AUGUST 2021**_
2 **Investments**
|||**Unrestricted**|Unrestricted|
|---|---|---|---|
|||**funds**|funds|
|||**2021**|2020|
|||**£**|£|
||Interest receivable|10|75|
|||10|75|
|3|**Other income**|||
|||**Unrestricted**|Unrestricted|
|---|---|---|---|
|||**funds**|funds|
|||**2021**|2020|
|||**£**|£|
||Fees|19,711|19,090|
||Education grant|115,838|138,384|
||Milk fund|873|1,075|
||Fundraising|2,837|3,697|
||Early Bird|6,949|17,268|
||Training / Seminars / Grants|-|5,000|
||Other|1,089|5,787|
|||147,297|190,301|
|4|**Charitable expenses**|||
|||**Unrestricted**|Unrestricted|
|||**funds**|funds|
|||**2021**|2020|
|||**£**|£|
||Milk|831|1,101|
||Insurance|2,375|-|
||Wages|130,995|142,107|
||Training / Seminars / Grants|965|5,525|
||Consumables|2,944|3,579|
||Equipment|3,791|2,574|
||Administration|6,085|6,235|
||Premises|3,938|17,840|
||Banking Charges|107|130|
||Other|1,564|2393|
|||153,595|181,484|
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## **MANOR FARM PRE-SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **5 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **6 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
|**Number of employees**
The average monthly number of employees during|the year was:||
|---|---|---|
||**2021**|**2020**|
||**Number**|**Number**|
||9|8|
|**Employment costs**|**2021**|**2020**|
||**£**|**£**|
|Wages and salaries|130,995|142,107|
There were no employees whose annual remuneration was £60,000 or more.
## **7 Related party transactions**
There were no disclosable related party transactions during the year (2020 - none).
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