2023-12-31-accounts - Walkern Pre-School

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

WALKERN PRESCHOOL

CHAIR’S REPORT – FINANCIAL YEAR 2023

Overview of the Preschool
Walkern Preschool (WPS) operates as a charity.
Despite operating within the grounds of Walkern Primary School we are entirely separate from them.
● WPS Committee acts as the Board of Trustees for the charity. ● We elect our committee once a year at our AGM which is usually held between mid October and the beginning of November.
The Committee uses the Preschool’s Business Plan as a tool to plan fundraising and develop the work of the committee, as well as supporting financial management of Preschool. This was first created in Sept 2013 and is an evolving document and its remit develops/expands each year.
The Preschool generates its income through fees and government grants
In addition, we raise funds through our own events, by participating in local events such as the Walkern fair and by signing up to fundraising schemes where we receive a commission or percentage of sales
● The committee meets formally once every half term. Each half term, after the committee meeting, we issue a newsletter for parents/carers, informing them of important dates, inviting them to events, telling them how much previous events raised etc.
The committee also has a dedicated Preschool website and we have developed social media platforms to increase visibility and to support fundraising and new applications.
● As a committee we have also introduced minimum hour contracts, sick pay and annual appraisals as well as benchmarking for pay.
Staff are now paid on a pro rata basis and receive a monthly payment for work completed within the setting. This is consistently monitored with feedback provided at the half termly committee meetings
● Tapestry has been fully rolled out in the preschool and parents have regular communication via this platform.

2. Finance

Three years ago, we undertook a review and reform of the financial management of the preschool, moving from hard-to-track cash payments to online payments for Preschool fees, a new financial system through QuickBooks, monitoring via a new accountancy firm, tighter checks on the management of the online bank account including a mandate for two signatories for any payments made and transferred payroll administration to the Preschool Learning Alliance.
● Over the past five years, we have tightened our financial controls even further by moving all invoicing and tracking to an electronic system and have additional help each year end with reconciling the books through the same accountancy firm.
We have also created two new restricted accounts. The first is held specifically for children with special needs, to support their learning and anything they may need. The second is a reserves account which is for building and maintenance, staff liability, flexing in year attendance and unforeseen contingency.
● Staff wages were increased in the year 2023 in line with the increase to the minimum wage. This is reflected in the financial figures below:

Total Income

164359

Total Expenditure 168496 Net 4137

3. Committee

Hayley Piper has been in role as the chairperson for a whole year
Historically the Preschool Committee has always taken on responsibility of fundraising alongside a smaller focus on the operational side of the Charity.
Four years ago it became apparent that the committee needed to be more actively involved in the operational management of the charity. This was due to increased requirements from Ofsted and the Charity Commission, the growing size of the Preschool and issues with regards to the financial management of the Preschool.
Our current committee member total stands at 8 members including the chair person. There has been a small increase to the committee from last year to reflect the growth happening in the preschool
In 2023 the focus of the committee was supporting the growth of the setting and to actively promote and help with fundraising events. This was to ensure that fundraising returned to a pre pandemic level
We managed to raise £3498, which is a considerable increase from last year. The committee is committed to working on plans to increase this next year
The committee now have members who come from a range of backgrounds - the chairperson is a secondary school teacher, staff that work in business domains and a primary school teacher. These members have been able to bring with them additional experience and share ideas in committee meetings
We have created additional roles within the committee to take advantage of this experience. The primary school teacher has the title of consultant to the pre school and was able to help us to secure a speech and language therapist through her contacts. We have created a designated fundraising team who work on projects and ideas for how we can raise money. We have also been able to apply for a grant for funds, as a committee members company offer this for charities

4. Staff

We currently have eight permanent members of staff
The communication between staff members, managers and the committee is regular. This has been through the use of a committee whats app group and half termly face to face meetings. Staff also arrange 2 observations with members of the committee to quality assure what is happening within the setting
Our staff are the Preschool, they are hugely appreciated and regularly go beyond their job descriptions. Feedback provided by the parents of children at the preschool always positively comment on the nurturing nature of the setting and how wonderful staff are with the children in their care. We have evidence of this through a yearly survey that is sent out to parents where feedback is gathered and reviewed by the staff and the committee

5. Children on role

By the end of this period, we had 52 children on roll – 25 in the morning group and 27 in the afternoons.
We are currently able to offer places to all Walkern children who apply, and continue to take a number of children from outside of the village. In 2023 we did have a waiting list for children to come and join our setting and we were able to manage that throughout the year
We continue to pride ourselves on splitting children by age and running separate morning and afternoon sessions for them. This allows us to tailor our activities to their level of development and particularly helps us to prepare our older (morning) children for their transition into Primary School.

6. Ofsted

Our last Ofsted inspection was March 2019.
We were happy with our ‘good’ rating and the glowing report, but we are still striving forward to achieve Outstanding.
From the report we considered how the setting could best focus on the areas we need to improve. The

setting has put in place more small group work to help support the students who require it most and an increase in staff training has meant that the experience and expertise of the staff continues to develop and grow.

The setting is ready for any upcoming Ofsted inspection and are aware that they are due.

7. Toddler Group

Our weekly Toddler Group has always been well attended, with its focus on ensuring parents sign up for a place at Preschool as soon as possible. This allows for seamless transition from birth – toddlers – preschool – primary school
Some work was needed around promotion of the toddler group. In 2023 a whats app group was set up to be able to communicate with parents more effectively. It is advertised in the Walkern Journal, a local magazine sent out around the village and there are posters on the primary school gates to bring greater visibility to the group
In 2023 the toddler group became well attended once again

8. The Future

Our main focus going into 2024 is to help the preschool to continue to thrive as an integral part of the village community. This means ensuring all our costs are covered and we will still be here, providing excellent childcare for years to come. We also want to ensure that the preschool is a happy and safe working environment for staff to try and build the reputation of the preschool as being an competitive and excellent employer within the village. In 2023 we started considering holding events in the community that would involve everyone, not just parents of children in the preschool. We would use the local social club to do this so that it brings more awareness of the preschool outside of the children and the parents who attend the setting
We still need to be careful with spending where possible, while still being able to fundraise whenever possible. However, we are always looking at grants and funds that we can access to help our children thrive. In 2023 we created a fundraising team within the community to be dedicated to looking at this
We also need to look into the structure of the charity, as finding new parents to join the committee as trustees is becoming tougher and tougher each year
Continuing to build a positive relationship with Walkern Primary school. As a main feeder to the primary school we want to continue to build that relationship with staff there so that we can benefit from their expertise and the facilities they have that we could utilise

Charity number: 1027055

REcisfERED CHARITY NUMBEIL" 1027055 Report ofthe Trusttts and UnAudited fu¢121 Statements for the Year Ended 31st Deeember 2023 for Walkern Pre School TaxAs5iA Accountants Arn House 4-6 Spicer Street SL Albans London AL3 4PQ

Walkern Pre School Contents of the Financial Statements for the Year Ended 31st December 2023 Plie Report orth¢ Trnstte$ I to 3 Indep¢ndent Examiner's Report Stwlement of Flnanelal Aetlvltles Bal8nc¢ Sheet Notes to th¢ Flnan¢lal Statem¢nts 7 to 11 Detalled Stslement of Flninelal A¢tlvlll 12 to 13

Walkern Pre S¢hool Report of the Trusttts ror the Year Ended 3 1st December 2023 The tnL8tees present their report with the fInela1 slatements of the charity for the year ¢nded 31si Decemlxr 2023. The Irustees have adopted the provisions of Accounting and Rep)rting by Charities: Sthtement of Recommended Prncti¢¢ applicablc lo charities preparirtg their accounls in aOrdanCe wilh the Financial Reporting Siandard applicablc in the UK and Republic of Ireland (FRS 102) (effective l January 2019). ObJe¢tlves and gctfvltles Objectfve of tb¢ ehirllabl¢ oryaDlzadon Walkern Preschool is a charity-run Pre-school serving a small village. We are based within the grounds of the primary school and oier for Children aged 2 to 5. Wc run Sessions with two age ranges and prepare the childr¢n for enty inio primary school. All fundraising and wi money is used to run the preschool with any ex fvnding going ¢owards the Improvemeni of its facilities. The aims of Ihe Pre-school are to enhance thc dcvclopment and edUclon of¢hildren primarily under siatutory school a8C by encouraging parents to understhnd and provlde for the needs of their ¢hildr¢n through community gr[P3 and by: (a) offering appmpriate play, education and care facililies. family learning and exnded hours groups, togeiher wlth th¢ right of parents take responsibilily for and to become involved in the activilie5 of such 8Thp4 ensuring lh su¢h groups oITcr opportunities for all Children wh41ever their race, culture. rcligion, means or abilily; (b) Encouraging the sludy of thc necds of sh thildren and their families and )M1n8 publi¢ interes1 in and recogniiion of such needs in lh¢ local areas; (c) Insli8ating and adhering to and furthuin8 th¢ aims and objects of the Pre-sthool L¢arnin8 Alliance. Publlc benefit The truslees have eonsldered the Chtirity Commi&8ion's guidance on public bencfiL includin8 the guidantt UblIC b¢n¢fit; running a charity (PB2)'. Achlevement and performanee During Ihc financial yeor, the chArity had a inwme of £164J59 (PY £123,539) and exp¢ndi¢ur¢ of £168,496 (PY £128,420). The unrestricted funds held as at year end were £71,708 (PY £75,845) FlnaDelal revlew Golng conccrn The Trustees consider that il is appropriate to prepwt the financial slatements on a 80ing con¢un bosis. Structllre• governance gDd management Governing document The Pre-sthool is governed by its constitution dated 22 M•y 2015. Recrultment and appolntmen¢ of truste The members of the Management Committee are also Tntstecs of the Charity. They are elected each year at ihe pre-schools annual general meetin& a minimum of 60% of the members muu be family of children attending any of the pr¢-schools groups. Reference and admlntstratfve detalls Reglstered Charlty number 1027055 Page 1

Walkern Pre School Report of the Trustees for the Year Ended 3 1st Deeember 2023 Prlnelpal address 117 High Street Walkern Stevena8e Hertfordshire Uniied Kingdom SG27NS Trusl¢e$ H L Piper Chair J Cr05by Trustee (appointed 2110r23) A Rough Trustec (appoinied 2110t23) W McHugh Trustee (appointed 2110r23) V SAunders Tru51ee (appoinied 2110123) L McNaughion TNstee (appointed 2110123) T Mansfield Trustee (appoinled 2110r23} S Pilgrim Trustee L A McKeown Trustee C Louise West (resigned 2110123) A Robert Macey Trustee (resigned YIOn3) L Anne Prior (re8i8ned 2110123) C Adamson Trustec (resigned 2111Y23) IDdependent Examlner T&xAssisi Accounthnts Arquen House 4.6 Spicer Street Si. Alban3 London AL3 4PQ stst¢m¢nt of trustees, responslbllltles The InteeS are responsible for preparing the Report of the Tru5tccs and thc financial statements in accordance wlth opplicable law and United Kingdom Accoun¢ing St8ndards (United Kingdom Generally Accepted Accounting Prnclice). The law applicable to charitie5 in England Ènd Wales, the Charltles Aci 2011, Charity (Accounis and Reports) Regulations 2008 and ihe provisions of the Irust deed r¢quires the Irusiees lo prepaTe financial slatements for each financial year which give a true and fair view of the state of affairs of Ihe charity and of the incoming r¢sourc¢s and application of resource4 including the income and expendilure, of the chority for that period. In preparing th0 financial gtatements, the Intee¥ are rquired to select suitable accounting pollcies and then apply them consistently: obr¥e the methods and principles in the Charity SORP. make judgement$ and estimales that are reasonable and prudeni. prepare the financial statements on the going concern basis unless it Is Inappropriate io presume ihat ihe charity wlll continuc in busines5. The trustees are responsibl¢ for keepin8 proper accountlng records which dls¢lose with reasonable accuracy at any tlme the financial position of the charity and to ¢nablc them to ensure tha¢ Ihc finan¢ial slaternents comply wlth th¢ Chariiies Act 2011, the Charity (Accounts and Reports) Regulations 2008 and ihe provisions of the Irust deed. They are also responsible for Safeguarding Ihe assets of the ¢harity and hence for iaking reasonable step5 for the prevention and delection of frnud and other irregularities. Page 2

Walkern Pre School Report of the Trustees for the Year Ended 31st December 21n3 Approved by order ofthe board of In on_-...........-.. .. - and signed on its behalf by: Truslee Page 3

Independent Examiner's Report to the Trnstees of Walkern Pre Sehool IndepeDdent examlAer's report to th¢ trustetj of WlkerD Pre SehoDI I report to the charity tnteeS on my examination of thc accounts of Walkern Pre School (the Trusl) for the year ended 3 1st December 2023. R¢8pon$ibilities and bASiS of report As the Charity trustees of the Trust you are rwiblc for the preparation of the accounts in aecordance with the requirements ofihe Charities Act 2011 ('the Act). I report in rcspcct of my examination of the Trust's accounts led 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(5Xb) of the ACL Independent examlDer's stalement I have compleied my examination. I confirni that no maierial matters have come my atn¢ion In Connection with the cxarnination giving me cause to believe that in any malerial res¢. ae¢ounting records noi kept in respecl of ihe Tntst as required by Section 130 of the Ac¢; or the accounts do not accord wilh those records: or Ihe 8ccounts do not Comply with the applicable requirements ¢onccrnin8 thc forn] and content of 8¢counts set oui in the Charities (A¢eounts and Reports) Regulalions 2008 other ihan any requirement thai ihe accounts 8ive a true and fair view which is noi a matlcr considered as part of an independeni examin10n. I have no concerns and have come across no other malters in conneclion with the examination io which attention should be drawn in this report in ordcr to enable a prop¢r understanding of the &Clln to be reached. TaxAssis¢ Ac¢ounwits Aryn House 44 Spiccr Street St. Albans London AL3 4PQ 3.I- 10-44 Dale: .... Page 4

Walk¢rn Pre School Statement of Fin¥nei21 Aetivities for the Year Ended 31st Dffember 2023 31112113 Unrestricted funds 3111212Z Totsl funds Notes locome And endowrnents from Donations and lega¢ies 135,768 98,787 Charitsble aetfvltles Charitable Aclivities 27,139 22.235 Other trading activities Investmeni income Other income 1.136 316 1,387 49 Totsl 164J59 123.539 Exptndltllre o Raising funds 167,445 127,869 Other 1.051 551 Totsl 128,420 NET INCOMFJ(EXPENDITURE) (4137) (4,881) Retonciliation of funds Totsl funds brought forward 75345 80.726 Tot81 funds tarrl¢d forward 71.708 75,845 The notes fomi part of these financial statents Page 5

Walkern Pre &h{l Balance Sheet 3 1st Dec¢mb¢r 2023 31112n3 Total Funds 31112122 Total funds Notts Current assets Debtors Cash at bk and in hand 844 73,603 85A12 74,447 Cr¢dlton Amounls falling due within one year (13W) 1,398 Net ¢llrr¢nl 9¢ts Total lets leu eurr¢nt Ilabllltles 71,708 75,845 NET ASSETS Funds Unrestricled funds Totsl thDdJ The financial siatemcnts were approved by the Board of Tnjstees •nd authoris¢d for issu¢ ¢)n ....... . ............................. .. and were signed on ils behalf by: Trustee The notes form part of Ihese financial statements Page 6

Walkern Pre School Notes to the Financial Statements for the Year Ended 31st December 2023 Aeeollntlng poll¢les Basls of preparfng the Ilnanelal statements The financial staiements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charitia SORP (FRS 102) 'Accountin8 and Reporting by Charilies: Statement of Recommended Practice applicable to ¢harities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of ITel•nd (FRS 102) (effcctivc l January 2019)., Financial Reporting Standard 102 The Financial Reportin8 Swnd•rd applicable in the UK atKI Republic of Ireland artd the Chariiics Act 2011. The financial slatements have been prcpared under the hislorical cost convenlion. The Charity has tsken advantsgc ofthe provisions in the SORP for chariiies applyin8 FRS 102 updale bulletin I not to prepare a statement of cash flows. Thc financial slalements are prepared in Merlifft& which As a fimthional rurvenq ofthe ¢harity. Mon¢lary amounts in Ihese financial statements are rounded to the nearest GBP. The pri1paI aoUntIng policies adopted e set out below. Goln8 ¢on¢¢rn At the time of approving the financial Statemen the Trustees have • r¢asonable expectation thai the charity has Adequate resources lo continue in opcrational exisnce for thc foresttablc fu¢urc. Thus ihe TNslee wntinue ¢0 adopt the 8oin8 concern basis of accounting in preparing the finan¢ial stthments. Ineomlng resources Income is rcco8nised when the ch8riiy is le8ally entiiled ts) li after any perforniance rAnditlons hav¢ b¢¢n me¢, the amounts can be measuffd reliably, ond it is probable that inc4)me will be rKeived. Cash donations are recognised on receipL Cmher donations are recognised once the charity has bccn notified of the donation unless performance conditions require deferral of the amounL Income tax recoverable in relation to donations received under Gift Aid is recogniscd at the lime of the donalio RU0ure ¢xp¢nded Resources expended are reco8nised in the period lo which they relale once there is a legal or constructive obl1110n to make a payment to a third party, it is probablc thAI a settlemcnl will bc rcquircd and the amounl of Ihe obllgalion ¢an be measured reliably. Direct charithble expendiiure comprises all the expdilure relaiing to the aaivities Carried ou¢ io 8¢hi¢ve th¢ haritsbl¢ Obj(1Ve& Support ¢osts represent $ts that cannot be directly attributed to chritsble activilies but are necessarily Incurr in running thc thariiy. Governance Costs in¢lud¢ amounts pay•bl¢ the independ¢n¢ Examin¢r and other costs incufftd in relation to statuiory and constltll¢ional reqU1m¢n All expendire is inclusive of iTre¢overnble VAT. Fin#ne121 instrnments Thc charity has clccted to apply the provisions of Section I I 'Basic Financial instrumenls. and S¢¢tion 12 '0ther Fingncial instruments issues, of FRS 102 to all of its financial instruments. Taxatlon The charity is exempt from lax on its charitable activitie& Page 7 conlinued...

Fund aeeountlDg Unrestricted fund5 can be used in accordanL% With the chaTitsbk objectives at the discretion of the truste Penslon costs and other post-r¢drement benefits The charity operntes a defined ntributIon penslon schem& Contributions payable to the ¢harity's pension scheme are charged to the Statement ofFinancial Activities in the period to which they rela*. Page 7 continued...

Walkern Pre School Notes to the FinaDeial Ststements - contlnued for the Year Ended 31st Dettmber 2023 Crltleal aeeountlDg Judgements The truskes are satisfied that there are no matcrial e#imat¢s orjudgements in th¢ finCial sts*ments. Other tradlng #etivllks 31112123 31112n2 Sale of Unifornis Toddlers Club 587 549 794 593 1.136 IDveslmenl Income 31112n3 31112n2 Bank Interest Receivable 316 49 Ralslng lundi RAlslng donadons and legacles 31112123 31112122 Support costs 167 445 Trus¢e¢s' r¢mun¢rallon and b¢neflts There were no trustees. remunerali¢)n or other benefits for the year ended 3 IM De¢ember 2023 nor for the year ended 31 st December 2022. Trusttts, expenses There were no tnjstees, expenses poid for the year ended 31stDecember2023 nor for the year ende45 31 si December 2022. Debtors: amounts falllng due wlthkn one yr 31112n3 31112122 Trade debtors 844 Page 8 continued...

Walkern Pre School Notes to the Financial Ststements - continued for the Year Ended 31st December 2023 Cr¢di¢ors: #mounts falllAg due wlthln one year 31112r23 31112n2 Taxation and social security Other creditors 2.087 13.804 1,398 Movement in funds Net Movement In funds At 31112f23 At 111123 Unrestrleted fiwds Genernl fund 75,845 {4,137) 71,708 TOTAL FUNDS Net movement in funds, included in the above art as follow5: Incomlng Resour¢es Resour¢es expended Movemont ID fund$ Unrestrlcted funds Genernl fund 164JyJ (168A96) (4,13T) TOTAL FUNDS 164 359 Comparatlve5 for movement In funds Net Movement In fund5 At 31112122 At iiin2 Unrestrtcted funds General fund 80.726 (4,881) 75,845 TOTAL FUNDS 80.726 4.881 75.845 Page 9 continued...

Walkern Pre School Notes to the Flnancial Statements - continued for the Year Ended 31st December 2023 Movement In funds- continued Comparative ne¢ movement in funds, included in the above are follow5: Ineomlng Resour¢es Re50urce$ expended Movemenl Unrestrlcted funds General fund 123,539 (128,420> (4,881) TOTAL FUNDS 123 539 128 420) A current year 12 months prior year12 months LX)rnbined position is L8 follows: Net Movem¢nt In fvnds At 111122 31112n3 Unrestrleted fvndj General fund 80,726 (9,018) 71,708 TOTAL FUNDS 80,726 A Gurrent year 12 months and prior year 12 months combined net movement in funds, in¢luded in the above are as follows: Ineomlng Re50ur¢¢$ Re$ourets expended Movement In funds Unrestrlcted fundi General fund 287,898 (296,916) (9.018) TOTAL FUNDS 287 898 296 916) 9.018) Page 10 continued...

WalkerD Pre Scbooj Notes to the FinaDcio1 Ststements - continued for the Year Ended 31st December 2023 io. Related party dtsclogures There were fio related pAty tranwtions for the year ended 31 Dember 2023 (31 st Decemb 2022) Anglyits of net ass¢ts betwetn fundj Net eurrent •Ssetsl(Ilabllides) Net Assets Unrestrfded funds Genernl 71,708.00 71.708.(K) Prevlous year Net current setsl(UAbllltl•s) N¢t Issets Unrestrleted funds Genernl 75,844.IXI 75,844.00 Page 11

Walkern Pre School Detailed Statement of Financial Aedvltl for the Year Ended 31st December 2023 31112123 31112r12 In¢om¢ and endowm¢nts DonAtlons Ydnd legydcles Fundraising Donations GrAnts Compensation income 3A98 215 112,055 4,241 24 94,522 135,768 98,787 Other trnding aetfvltl¢s Sale of Uniforms Toddlers Club $87 549 794 593 1,136 1,387 Inv¢5tment ineom¢ Bank Interest Receivable 316 49 Charltable activitles Fee Income Lunch & Snacks Income from charitable act. 25,980 18,926 2,099 210 27,139 21235 Oth¢r Ineome Other income Total ineomlng resourees 164,359 123,539 Expendlture Other Accountancy fees Professional Fees 960 91 1,051 Support costs Management Wages Carried forward J36y9 136549 110.349 110.349 Thls page does not form part of the statutory financial statements Page 12

Walkern Pre School Detalled Statem¢nt of Financial Activities for the Year Ended 3 Ist December 2023 31111Q3 31112J22 Management Brought forward Social 5ecurily Pensions Rcnt & Rates Insurance Telephone Posta8e and ststionery Repairs & Renewal$ Subscriptions Compu¢er & in*rnet coAs Cleaning Equipment expense 136¥9 3,726 2J18 9J36 lJ39 I l O.J49 867 1,352 1,595 ,033 36 481 139 242 170 530 312 154035 118.653 Hllman r¢sour¢e$ Staff trnining & welfar¢ 890 Other Payroll costs Uniforn] Food Leaming ffSoUr9 Fundraising expenses 499 2,430 5579 535 1,328 ,763 2,975 9,043 8,326 Other 3 Sundries 3.932 Covtruanee costs Legal Fees 35 551 Tothl resources expended 128,420 Net ¢xpendlture This page does not fomi part of the statutory financial statements Page 13

Walkern Pre School Report of the Trustees for the Year Ended 31st December 21n3 Approved by order ofthe board of In on_-...........-.. .. - and signed on its behalf by: Truslee Page 3