Little Sunbeams pre-School
Charity No. 01027790
Trustees' Report and Unaudited Accounts
31 July 2020
Little Sunbeams pre-School Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Accounts | 7 to 14 |
| Detailed Statement of Financial Activities | 15 to 16 |
Page 1
Little Sunbeams pre-School Trustees Annual Report
The Trustees present their report with the unaudited financial statements of the charity for the year ended 31 July 2020.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 01027790
Principal Office
c/o Mayfield School Mayfield Road Portsmouth Hants
Trustees
The following Trustees served during the year:
C. Dridge A. Harman T. Reynolds
Key Management Personnel
Manager
Isobel Edwards
Accountants
Accounting & Tax Solutions Ltd 90 Pelham Road Cowes Isle of Wight PO31 7DN
Bankers
Barclays 1 Churchill Place London E14 5HP
Solicitors
Investment Advisors
Page 2
Little Sunbeams pre-School Trustees Annual Report
ACHIEVEMENTS AND PERFORMANCE
A large charity must review its charitable activities undertaken, explaining performance achieved against objectives set ...
A large charity must include an explanation when material fundraising activities are undertaken, details of the performance achieved against fundraising objectives set ...
A large charity must provide an explanation when material investments are held, details of investment performance achieved against objectives set ...
A large charity must provide an explanation of any material expenditure occurred to raise income in the future...
A large charity must provide commentary on those significant positive and negative factors within and outside the charity's control which are relevant to the achievement of its objectives ...
PLANS FOR FUTURE PERIODS
A large charity must provide a summary of the charity's plans for the future including its aims and objectives and details of any plans to achieve them ...
A large charity's report should explain the trustees perspective of the future direction of the charity...
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
T. Reynolds Trustee 18 September 2020
Page 3
Little Sunbeams pre-School Independent Examiners Report
Independent Examiner's Report to the trustees of Little Sunbeams pre-School
I report to the trustees on my examination of the accounts of Little Sunbeams pre-School for the year ended 31 July 2020 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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 can 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:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts did 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.
Christopher Stolborg B.A. Accounting Accounting & Tax Solutions Ltd 90 Pelham Road Cowes
Isle of Wight PO31 7DN 18 September 2020
Page 4
Little Sunbeams pre-School Statement of Financial Activities for the year ended 31 July 2020
| Notes Income and endowments from: Donations and legacies 3 Charitable activities 4 Investments 5 Other 6 Total Expenditure on: Charitable activities 7 Other 8 Total Net gains on investments Net (expenditure)/income Transfers between funds Net (expenditure)/income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricte d funds 2020 £ 871 174,296 34 37,587 |
Total funds 2020 £ 871 174,296 34 37,587 |
Total funds 2019 £ 2,790 235,553 41 - |
|---|---|---|---|
| 212,788 5,934 213,685 |
212,788 5,934 213,685 |
238,384 10,011 227,516 |
|
| 219,619 - |
219,619 - |
237,527 - |
|
| (6,831) - |
(6,831) - |
857 - |
|
| (6,831) | (6,831) | 857 | |
| (6,831) 10,082 |
(6,831) 10,082 |
857 9,225 |
|
| 3,251 | 3,251 | 10,082 |
Page 5
Little Sunbeams pre-School Balance Sheet
at 31 July 2020
| Charity No. 01027790 Fixed assets Tangible assets 10 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 11 Net current assets Total assets less current liabilities Provisions for liabilities 12 Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 13 Unrestricted funds 13 General funds Reserves 13 Total funds Approved by the trustees on 18 September 2020 |
2020 £ 4,783 4,783 99,069 99,069 (5,086) 93,983 98,766 (95,515) 3,251 3,251 3,251 3,251 3,251 |
2019 £ 4,783 |
|---|---|---|
| 4,783 37,000 |
||
| 37,000 (1,743) |
||
| 35,257 40,040 (29,958) |
||
| 10,082 | ||
| 10,082 | ||
| 10,082 | ||
| 10,082 | ||
| 10,082 | ||
And signed on their behalf by:
T. Reynolds Trustee 18 September 2020
Page 6
Little Sunbeams pre-School Notes to the Accounts
for the year ended 31 July 2020
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 7
Little Sunbeams pre-School Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 8
Little Sunbeams pre-School Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 9
Little Sunbeams pre-School Notes to the Accounts
2 Statement of Financial Activities - prior year
| 2 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Donations and legacies Charitable activities Investments Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies 4 Income from charitable activities Nursery for pre school children |
Unrestricted £ 871 - 871 Unrestricted £ 174,296 174,296 |
Unrestricted funds 2019 £ 2,790 235,553 41 238,384 10,011 227,516 237,527 857 857 857 9,225 10,082 Total 2020 £ 871 - 871 Total 2020 £ 174,296 174,296 |
Total funds 2019 £ 2,790 235,553 41 |
| 238,384 10,011 227,516 |
|||
| 237,527 | |||
| 857 | |||
| 857 | |||
| 857 9,225 |
|||
| 10,082 | |||
| Total 2019 £ 1,104 1,686 |
|||
| 2,790 | |||
| Total 2019 £ 235,553 |
|||
| 235,553 |
Page 10
Little Sunbeams pre-School Notes to the Accounts
5 Income from investments
| 6 Other income 7 Expenditure on charitable activities Expenditure on charitable activities Nursery for pre school children Governance costs 8 Other expenditure Employee costs Premises costs General administrative costs Legal and professional costs 9 Staff costs Salaries and wages Social security costs Pension costs |
Unrestricted £ 34 34 Unrestricted £ 37,594 (7) 37,587 |
Total 2020 £ 34 34 Total 2020 £ 37,594 (7) 37,587 |
Total 2019 £ 41 |
|---|---|---|---|
| 41 | |||
| Total 2019 £ - - |
|||
| - | |||
| Unrestricted £ 948 4,986 5,934 Unrestricted £ 188,097 23,849 309 1,430 213,685 177,960 6,074 4,063 188,097 |
Total 2020 £ 948 4,986 5,934 Total 2020 £ 188,097 23,849 309 1,430 213,685 |
Total 2019 £ 3,402 6,609 |
|
| 10,011 | |||
| Total 2019 £ 199,850 24,271 1,065 2,330 |
|||
| 227,516 | |||
| 189,134 7,171 3,389 |
|||
| 199,694 |
No employee received emoluments in excess of £60,000.
Page 11
Little Sunbeams pre-School Notes to the Accounts
| 10 Tangible fixed assets Cost or revaluation At 1 August 2019 At 31 July 2020 Net book values At 31 July 2020 At 31 July 2019 11 Creditors: amounts falling due within one year Other taxes and social security Accruals and deferred income |
2020 £ 468 4,618 5,086 |
£ 4,783 4,783 4,783 4,783 |
£ 4,783 |
|
|---|---|---|---|---|
| 4,783 | ||||
| 4,783 | ||||
| 4,783 | ||||
| 2019 £ 943 800 |
||||
| 1,743 | ||||
| 12 Provisions At 1 August 2019 Movement for the year At 31 July 2020 13 Movement in funds Restricted funds: Unrestricted funds: General funds Revaluation Reserves: Total funds |
At 1 August 2019 10,082 10,082 |
Incoming resources (including other gains/losses ) £ 212,788 212,788 |
Onerous contracts £ 29,958 65,557 95,515 Resources expended £ (219,619) (219,619) |
Total £ 29,958 65,557 |
| 95,515 | ||||
| At 31 July 2020 £ 3,251 |
||||
| 3,251 |
Page 12
Little Sunbeams pre-School Notes to the Accounts
14 Analysis of net assets between funds
| Fixed assets Net current assets Creditors due in more than one year and provisions 15 Reconciliation of net debt Cash and cash equivalents Net debt |
Unrestricted funds £ 4,783 93,983 (65,557) 33,209 At 1 August 2019 £ |
Restricted funds £ - - (29,958) (29,958) Cash flows £ |
Total £ 4,783 93,983 (95,515) |
|---|---|---|---|
| 3,251 | |||
| At 31 July 2020 £ |
|||
| 37,000 | 62,069 | 99,069 | |
| 37,000 37,000 |
62,069 62,069 |
99,069 | |
| 99,069 | |||
| 16 Commitments Operating lease commitments Annual commitments under non-cancellable operating leases 2020 Land and buildings £ Operating leases with expiry date: Pension commitments The pension cost charge to the charity amounted to: |
are as follows: 2020 Other £ 2020 £ 4,063 |
2019 Land and buildings £ |
2019 Other £ 2019 £ 3,389 |
Page 13
Little Sunbeams pre-School Statement of Cash flows for the year ended 31 July 2020
| Cash flows from operating activities Net (expenditure)/income per Statement of Financial Activities Adjustments for: Movement in provisions Dividends, interest and rents from investments Increase/(Decrease) in trade and other payables Net cash provided by operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2020 £ (6,831) 65,557 (37,621) 3,343 24,448 37,621 37,621 - 62,069 37,000 99,069 |
2019 £ 857 50,598 (41) (2,324) |
|---|---|---|
| 49,090 41 |
||
| 41 | ||
| - | ||
| 49,131 | ||
| 23,371 | ||
| 72,502 | ||
| Components of cash and cash equivalents | ||
| Cash and bank balances | 99,069 | 37,000 |
| 99,069 | 37,000 |
Page 14
Little Sunbeams pre-School Detailed Statement of Financial Activities
for the year ended 31 July 2020
| Income and endowments from: Donations and legacies Charitable activities Nursery for pre school children Investments Other Total income and endowments Expenditure on: Charitable activities Nursery for pre school children Total of expenditure on charitable activities Employee costs Salaries/wages Employer's NIC Pension costs Staff training Staff welfare Premises costs Rent Rates Premises cleaning General administrative costs, including depreciation and amortisation Bank charges |
Unrestricted funds 2020 £ 871 - 871 174,296 174,296 34 34 37,594 (7) 37,587 212,788 948 4,986 5,934 5,934 177,960 6,074 4,063 - - 188,097 22,164 560 1,125 23,849 118 |
Total funds 2020 £ 871 - 871 174,296 174,296 34 34 37,594 (7) 37,587 212,788 948 4,986 5,934 5,934 177,960 6,074 4,063 - - 188,097 22,164 560 1,125 23,849 118 |
Total funds 2019 £ 1,104 1,686 |
|---|---|---|---|
| 2,790 | |||
| 235,553 | |||
| 235,553 | |||
| 41 | |||
| 41 | |||
| - - |
|||
| - | |||
| 238,384 3,402 6,609 |
|||
| 10,011 | |||
| 10,011 189,134 7,171 3,389 55 101 |
|||
| 199,850 | |||
| 21,864 941 1,466 |
|||
| 24,271 | |||
| 278 |
Page 15
Little Sunbeams pre-School Detailed Statement of Financial Activities
| Equipment repairs and maintenance Stationery and printing Telephone, fax and broadband Legal and professional costs Audit/Independent examination fees Accountancy and bookkeeping Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
- - 191 309 800 630 - 1,430 213,685 219,619 - (6,831) (6,831) - (6,831) 10,082 3,251 |
- - 191 309 800 630 - 1,430 213,685 219,619 - (6,831) (6,831) - (6,831) 10,082 3,251 |
258 316 213 |
|---|---|---|---|
| 1,065 | |||
| 800 630 900 |
|||
| 2,330 | |||
| 227,516 | |||
| 237,527 - |
|||
| 857 | |||
| 857 - |
|||
| 857 | |||
| 9,225 | |||
| 10,082 |
Page 16