REGISTRATION NUMBER: 1027764
Rolleston Pre-school and Playgroup Unaudited Financial Statements
31 August 2022
Rolleston Pre-school and Playgroup
Financial Statements
Year ended 31 August 2022
| Contents | Page |
|---|---|
| Management committee report | 1 |
| Report to the management committee on the preparation of the | |
| unaudited statutory financial statements | 2 |
| Statement of income and retained earnings | 3 |
| Statement of financial position | 4 |
| Notes to the financial statements | 5 |
| The following pages do not form part of the financial statements | |
| Detailed income statement | 8 |
| Notes to the detailed income statement | 9 |
Rolleston Pre-school and Playgroup
Management Committee Report
Year ended 31 August 2022
The trustees present their report and the unaudited financial statements of the society for the year ended 31 August 2022.
Principal activities
The principal activity of the company during the year was a Preschool and playgroup activities.
Trustees
The trustees who served the society during the year were as follows:
Mrs J Gibson Mrs S Tyson Mrs K Grant Mrs L Billings Mrs E Bradbury Miss C Renshaw Mrs L Betteridge Mrs L Derbyshire Mrs C Burn Mrs O Basova
This report was approved by the management committee on .............................. and signed on behalf of the board by:
Mrs K Grant Chairwoman
Registered office: School Lane, Rolleston-on-Dove, Burton-on-Trent DE13 9AQ
- 1 -
Rolleston Pre-school and Playgroup
Report to the Management Committee on the Preparation of the Unaudited Statutory Financial Statements of Rolleston Pre-school and Playgroup
Year ended 31 August 2022
As described on the statement of financial position, the management committee of the society are responsible for the preparation of the financial statements for the year ended 31 August 2022, which comprise the statement of income and retained earnings, statement of financial position and the related notes.
You consider that the society is exempt from an audit under the Co-operative and Community Benefit Societies Act 2014.
In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
- 2 -
Rolleston Pre-school and Playgroup
Statement of Income and Retained Earnings
Year ended 31 August 2022
| Year ended 31 August 2022 | ||
|---|---|---|
| 2022 | 2021 | |
| Note | £ | £ |
| Turnover | 115,062 | 98,550 |
| Cost of sales | 91,286 | 73,551 |
───────── |
──────── |
|
| Gross profit | 23,776 | 24,999 |
| Administrative expenses | 25,171 | 19,678 |
──────── |
──────── |
|
| Operating (loss)/profit | (1,395) | 5,321 |
| Other interest receivable and similar income | 3 | 2 |
──────── |
──────── |
|
| (Loss)/profit before taxation | (1,392) | 5,323 |
| Tax on (loss)/profit | – | – |
─────── |
─────── |
|
| (Loss)/profit for the financial year and total comprehensive income | (1,392) | 5,323 |
═══════ |
═══════ |
|
| Retained earnings at the start of the year | 42,293 | 36,970 |
──────── |
──────── |
|
| Retained earnings at the end of the year | 40,901════════ |
42,293════════ |
The notes on pages 5 to 6 form part of these financial statements.
- 3 -
Rolleston Pre-school and Playgroup
Statement of Financial Position
31 August 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Current assets | ||||
| Cash at bank and in hand | 41,251 | 43,842 | ||
| Creditors: amounts falling due within one year | 5 | 350 | 1,549 | |
──────── |
──────── |
|||
| Net current assets | 40,901 | 42,293 | ||
──────── |
──────── |
|||
| Total assets less current liabilities | 40,901 | 42,293 | ||
──────── |
──────── |
|||
| Net assets | 40,901 | 42,293 | ||
════════ |
════════ |
|||
| Capital and reserves | ||||
| Profit and loss account | 40,901 | 42,293 | ||
──────── |
──────── |
|||
| Members funds | 40,901════════ |
42,293════════ |
The society is satisfied that it is entitled to exemption from the requirement to obtain an audit under section 84 of the Co-operative and Community Benefit Societies Act 2014.
The members have not required the society to obtain an audit of its financial statements for the year in question in accordance with the Act.
The trustees acknowledge their responsibilities for:
-
ensuring that the society keeps proper accounting records which comply with section 75 of the Co-operative and Community Benefit Societies Act 2014 (the Act);
-
establishing and maintaining a satisfactory system of its books of accounts, its cash holdings and all its receipts and remittances in order to comply with section 75 of the Act; and
-
preparing financial statements which give a true and fair view of the state of affairs of the society as at the end of the financial year and of its income and expenditure for the year in accordance with the requirements of section 80, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the society.
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the management committee and authorised for issue on ........................, and are signed on their behalf by:
Mrs K Grant Chairwoman
Secretary
Registration number: 1027764
The notes on pages 5 to 6 form part of these financial statements.
- 4 -
Rolleston Pre-school and Playgroup
Notes to the Financial Statements
Year ended 31 August 2022
1. General information
The society is registered under the Co-operative and Community Benefit Societies Act 2014. The address of the registered office is School Lane, Rolleston-on-Dove, Burton-on-Trent DE13 9AQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Financial instruments
A financial asset or a financial liability is recognised only when the society becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
- 5 -
Rolleston Pre-school and Playgroup
Notes to the Financial Statements (continued)
Year ended 31 August 2022
3. Accounting policies (continued)
Financial instruments (continued)
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the society during the year amounted to 9 (2021:
6).
5. Creditors: amounts falling due within one year
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Other creditors | 350 | 1,549 |
════ |
═══════ |
- 6 -
Rolleston Pre-school and Playgroup
Management Information
Year ended 31 August 2022
The following pages do not form part of the financial statements.
- 7 -
Rolleston Pre-school and Playgroup
Detailed Income Statement
Year ended 31 August 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Turnover | 115,062 | 98,550 |
| Cost of sales | ||
| Cost of sales | 755 | 556 |
| Playgroup cost of sales | 1,778 | 705 |
| Preschool cost of sales | 4,716 | 4,075 |
| Wages and salaries | 84,037 | 68,215 |
──────── |
──────── |
|
| 91,286 | 73,551 | |
──────── |
──────── |
|
| Gross profit | 23,776 | 24,999 |
| Overheads | ||
| Administrative expenses | 25,171 | 19,678 |
──────── |
──────── |
|
| (Loss)/profit on society trading | (1,395) | 5,321 |
──────── |
──────── |
|
| Operating (loss)/profit | (1,395) | 5,321 |
| Other interest receivable and similar income | 3 | 2 |
─────── |
─────── |
|
| (Loss)/profit before taxation | (1,392)═══════ |
5,323═══════ |
- 8 -
Rolleston Pre-school and Playgroup
Notes to the Detailed Income Statement
Year ended 31 August 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Administrative expenses | ||
| Rent | 2,409 | 3,169 |
| Repairs and maintenance (allowable) | 4,725 | 3,119 |
| Telephone | 492 | 469 |
| Office expenses | 6,620 | 5,019 |
| Printing postage and stationery | 242 | 453 |
| Staff training | 1,642 | 693 |
| Staff welfare | 604 | 90 |
| Sundry expenses | 4,885 | 5,229 |
| Laundry and cleaning | 3,050 | 1,350 |
| Charitable donations (allowable) | 38 | – |
| Accountancy fees | 350 | – |
| Bank charges | 114 | 87 |
──────── |
──────── |
|
| 25,171 | 19,678 | |
════════ |
════════ |
|
| Other interest receivable and similar income | ||
| Interest on cash and cash equivalents | – | 2 |
| Interest on bank deposits | 3 | – |
──── |
──── |
|
| 3 | 2 | |
════ |
════ |
- 9 -