Little Sunbeams pre-School
Charity No. 01027790
Trustees' Report and Unaudited Accounts
31 July 2022
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 |
| Statement of Cash flows | 7 |
| Notes to the Accounts | 8 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 2022.
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
Isobel Edwards
Accountants
Accounting & Tax Solutions Ltd Eastview Holborn Hill Millom Cumbria LA18 5AT
Bankers
Barclays 1 Churchill Place London E14 5HP
Solicitors
Investment Advisors
Page 2
Little Sunbeams pre-School Trustees Annual Report
OBJECTIVES AND ACTIVITIES
A larger charity must provide an explanation of its aims, including details of the issues it seeks to tackle and the changes or differences it seeks to make through its activities...
A larger charity must provide an explanation how the achievement of its aims will further its legal purposes...
A larger charity must provide an explanation of its strategies for achieving its stated aims and objectives...
A larger charity must provide an explanation of its criteria or measures it uses to assess success in the reporting period...
A larger charity should provide a more detailed explanation of its short-term and long-term aims and objectives...
ACHIEVEMENTS AND PERFORMANCE
The charity has worked hard through the pandemic in keeping open for children that have required places.
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 24 February 2023
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 financial statements of Little Sunbeams pre-School for the year ended 31 July 2022.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's financial statements 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
As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination by being a qualified member of ACCA.
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 financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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.
J Patel ACCA Accounting & Tax Solutions Ltd Eastview Holborn Hill Millom Cumbria LA18 5AT 24 February 2023
Page 4
Little Sunbeams pre-School Statement of Financial Activities for the year ended 31 July 2022
| Notes Income and endowments from: Charitable activities 3 Investments 4 Other 5 Total Expenditure on: Charitable activities 6 Other 7 Total Net gains on investments Net 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 |
Unrestricted funds |
Total funds | Total funds | |
|---|---|---|---|---|
| 2022 | 2022 | 2021 | ||
| £ | £ | £ | ||
| 264,269 | 264,269 | 254,675 | ||
| - | - | 2 | ||
| - | - | 8,051 | ||
| 264,269 | 264,269 | 262,728 | ||
| 3,078 | 3,078 | 7,718 | ||
| 220,960 | 220,960 | 224,381 | ||
| 224,038 | 224,038 | 232,099 | ||
| - | - | - | ||
| 40,231 | 40,231 | 30,629 | ||
| (66,891) | (66,891) | - | ||
| (26,660) | (26,660) | 30,629 | ||
| (26,660) | (26,660) | 30,629 | ||
| 164,884 | 164,884 | 98,766 | ||
| 138,224 | 138,224 | 129,395 | ||
Page 5
Little Sunbeams pre-School Balance Sheet
at 31 July 2022
| Charity No. 01027790 Fixed assets Tangible assets 9 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 10 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 11 Unrestricted funds 11 General funds Reserves 11 Total funds |
2022 £ 4,783 4,783 143,945 143,945 (10,504) 133,441 138,224 138,224 138,224 138,224 138,224 138,224 |
2021 £ 4,783 |
|---|---|---|
| 4,783 160,138 |
||
| 160,138 (37) |
||
| 160,101 164,884 |
||
| 164,884 | ||
| 164,884 | ||
| 164,884 | ||
| 164,884 | ||
| 164,884 |
Approved by the trustees on 24 February 2023
And signed on their behalf by:
T. Reynolds Trustee 24 February 2023
Page 6
Little Sunbeams pre-School Notes to the Accounts
for the year ended 31 July 2022
- 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: Charitable activities Investments Other Total Expenditure on: Charitable activities Other Total Net income Transfers between funds 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 charitable activities Nursery for pre school children 4 Income from investments |
Unrestricted £ 264,269 264,269 |
Unrestricted funds 2021 £ 254,676 2 8,051 262,729 7,718 224,381 232,099 30,630 35,489 66,119 66,119 98,766 164,885 Total 2022 £ 264,269 264,269 Total 2022 £ - - |
Total funds 2021 £ 254,676 2 8,051 |
| 262,729 7,718 224,381 |
|||
| 232,099 | |||
| 30,630 35,489 |
|||
| 66,119 | |||
| 66,119 98,766 |
|||
| 164,885 | |||
| Total 2021 £ 254,675 |
|||
| 254,675 | |||
| Total 2021 £ 2 |
|||
| 2 |
Page 10
Little Sunbeams pre-School Notes to the Accounts
5 Other income
| 6 Expenditure on charitable activities Expenditure on charitable activities Nursery for pre school children Governance costs 7 Other expenditure Employee costs Premises costs General administrative costs Legal and professional costs 8 Staff costs Salaries and wages Social security costs Pension costs No employee received emoluments in excess of £60,000. 9 Tangible fixed assets Cost or revaluation At 1 August 2021 At 31 July 2022 Net book values At 31 July 2022 At 31 July 2021 |
Unrestricted £ 1,048 2,030 3,078 Unrestricted £ 195,687 23,688 465 1,120 220,960 2022 183,246 8,036 4,405 195,687 |
Total 2022 £ - - |
Total 2021 £ 8,051 |
|---|---|---|---|
| 8,051 | |||
| Total 2022 £ 1,048 2,030 3,078 Total 2022 £ 195,687 23,688 465 1,120 220,960 £ 4,783 4,783 4,783 4,783 |
Total 2021 £ 1,229 6,489 |
||
| 7,718 | |||
| Total 2021 £ 202,500 20,395 326 1,160 |
|||
| 224,381 | |||
| 2021 191,007 6,854 4,639 |
|||
| 202,500 | |||
| £ 4,783 |
|||
| 4,783 | |||
| 4,783 | |||
| 4,783 |
Page 11
Little Sunbeams pre-School Notes to the Accounts
10 Creditors:
amounts falling due within one year
| Other taxes and social security Accruals 11 Movement in funds At 1 August 2021 Restricted funds: Unrestricted funds: General funds 164,884 Total funds 164,884 12 Analysis of net assets between funds Fixed assets Net current assets 13 Reconciliation of net debt Cash and cash equivalents Net debt |
Other taxes and social security Accruals 11 Movement in funds At 1 August 2021 Restricted funds: Unrestricted funds: General funds 164,884 Total funds 164,884 12 Analysis of net assets between funds Fixed assets Net current assets 13 Reconciliation of net debt Cash and cash equivalents Net debt |
2022 £ - |
2021 £ 36 |
||
|---|---|---|---|---|---|
| 10,504 | 1 | ||||
| Incoming resources (including other gains/losses) £ 264,269 264,269 |
10,504 Resources expended £ (224,038) (224,038) At 1 August 2021 £ |
Gross transfers £ (66,891) (66,891) Unrestricted funds £ 4,783 133,441 138,224 Cash flows £ |
37 | ||
| At 31 July 2022 £ 138,224 |
|||||
| 138,224 | |||||
| Total £ 4,783 133,441 |
|||||
| 138,224 | |||||
| At 31 July 2022 £ |
|||||
| 160,138 | (16,193) | 143,945 | |||
| 160,138 160,138 |
(16,193) (16,193) |
143,945 | |||
| 143,945 | |||||
Page 12
Little Sunbeams pre-School Notes to the Accounts
14 Commitments
Operating lease commitments
Annual commitments under non-cancellable operating leases are as follows:
| 2022 | 2022 | 2021 | 2021 | |
|---|---|---|---|---|
| Land and buildings |
Other | Land and buildings |
Other | |
| £ | £ | £ | £ | |
| Operating leases with expiry date: | ||||
| Pension commitments | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| The pension cost charge to the charity | ||||
| amounted to: | 4,405 | 4,639 |
Page 13
Little Sunbeams pre-School Statement of Cash flows for the year ended 31 July 2022
| Cash flows from operating activities Net (expenditure)/income per Statement of Financial Activities Adjustments for: Increase/(Decrease) in trade and other payables Net cash (used in)/provided by operating activities Net cash from investing activities Net cash from financing activities Net (decrease)/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 |
2022 £ (26,660) 10,467 (16,193) - - (16,193) 160,138 143,945 |
2021 £ 66,119 (5,050) |
|---|---|---|
| 53,016 | ||
| 8,053 | ||
| - | ||
| 61,069 | ||
| 99,069 | ||
| 160,138 | ||
| Components of cash and cash equivalents | ||
| Cash and bank balances | 143,945 | 160,138 |
| 143,945 | 160,138 |
Page 14
Little Sunbeams pre-School Detailed Statement of Financial Activities
for the year ended 31 July 2022
| Income and endowments from: 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 Premises costs Rent Rates Premises cleaning General administrative costs, including depreciation and amortisation Bank charges Equipment repairs and maintenance Stationery and printing Sundry expenses Telephone, fax and broadband Legal and professional costs |
Unrestricted funds 2022 £ 264,269 264,269 - - - - 264,269 1,048 2,030 3,078 3,078 183,246 8,036 4,405 195,687 22,164 97 1,427 23,688 92 - - 91 282 465 |
Total funds 2022 £ 264,269 264,269 - - - - 264,269 1,048 2,030 3,078 3,078 183,246 8,036 4,405 195,687 22,164 97 1,427 23,688 92 - - 91 282 465 |
Total funds 2021 £ 254,675 |
|---|---|---|---|
| 254,675 | |||
| 2 | |||
| 2 | |||
| 8,051 | |||
| 8,051 | |||
| 262,728 1,229 6,489 |
|||
| 7,718 | |||
| 7,718 191,007 6,854 4,639 |
|||
| 202,500 | |||
| 18,970 - 1,425 |
|||
| 20,395 | |||
| 78 63 15 - 170 |
|||
| 326 | |||
Page 15
Little Sunbeams pre-School Detailed Statement of Financial Activities
| Little Sunbeams pre-School Detailed Statement of Financial Activities |
|||
|---|---|---|---|
| Audit/Independent examination fees Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net gains on investments Net income Transfers between funds Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
800 320 1,120 220,960 224,038 - 40,231 (66,891) (26,660) - (26,660) 164,884 138,224 |
800 320 1,120 220,960 224,038 - 40,231 (66,891) (26,660) - (26,660) 164,884 138,224 |
800 360 |
| 1,160 | |||
| 224,381 | |||
| 232,099 - |
|||
| 30,629 35,489 |
|||
| 66,118 - |
|||
| 66,118 | |||
| 98,766 | |||
| 164,884 |
Page 16