2021-08-31-accounts

Charity number.. 1028370 BEACHES pRE￿CHOOL UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

BEACHES PRESCHOOL CONTENTS Page Reference and administrative details of the Charity. its Trustees and advisers Trustees. report Independent oxamlnerfs report Statement of financlal act5vitie5 Balance shggt Notes to the financlal staternents 8-18

BEACHES PRESCHOOL REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2021 Trustees Rachael Heme. Chair Elaine T￿er. Secretary Catherine Wilson. Treasurer Sian E￿ardS Charity registered numbèr 1028370 Prlnclpal offlco cjo Wesuands CP Sdv) Beeches Close Chelmsford Essex CM1 2SB Independent examlnor MHA Maclntyre Hudson Chartered Accountsnls Colchester Buwness Park Colchester Essex C04 9YQ Page 1

BEACHES PRESCHOOL TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 The Trustees present their annual report together wth the finanaal ststemenls of the Charity for the year 1 September 2020 10 31 August 2021. Oblectivey and actlvitiey • Purp¢)se and ob1K￿¥8$ The purpose and objective of the Pr￿schoOl, as per rts Constthilion, is lo advance the development and education of children primarily under stslulory school age by". al encouraging parents lo understand and provide for the needs of their children through community groups bl offering appropriate play, education and care facilities, family leaming and exiended hours groups, together with the right of paren15 to lake responsibilty for and to become Involved In the activities of such groups, ensuring that such groups offer opportunities for all children vthalever their race, culture, religion, means or cl encouraging the study of the needs of such children and their families and promoting public interest in and recognition of such needs in the lo￿1 areas dl instigating and adhering lo and furthering Ihe aims and objecls of the earty y8ars leaming alliance In selling objectives and planning for activities. the Trustees have given due consideration lo general guidance published by the Charity Commiswon relating lo public benefit, induding the guidance 'Public benefit.. running harity IPB21'. Maln actlvltles undertaken to achelve obJKts and to further th• Charlty's purposes for the publlc beneflt The Charity provides a Pr&School environment lo enable the development and education of the children that attend. This is acheived by. al offering appropriate play facilities and training courses, ensuring opportunilies for all Chlidren, regardless ol race, culture. religion or means. bl encouraging the study of the needs of yJth thildren and their families and promoting publie interest in and recognition of such neetls in the local area. cl insligalion and adhering lo and lurthering the aims of the eady years leaming alliance. Achlevements and pofftirniance • Maln achlevements of the Charlty During the period the Charity operated a Pre•School group on five days a week during term times, offering choice of three drfferenl session limes. These sessions enable parents and carers ￿s$ lo childcare in a slimulated environment. The sessions are run by employed, qualified staff and are supervised by an employed Pre-school supervisor. A lotsl of 82 children attended the Pr&School in the penod ￿0$S one academic year. Volunteers on the Committee held a nUm￿r of fijndraising activrties throughout the school calendar year lo raise money for improving the Pre-schools facil￿eS. Page 2

BEACHES PRESCHOOL TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2021 Flnanclal revlew Going ¢on¢grn After making appropriate enquiries. the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in operational exislence for the foreseeable fuiure. For this reason. they continue lo adopt the going concern basis in preparing the ffinancial statements. Further detsils regarding the adoption of the going concern basis can be found in the accounting poliae$. Resgrves pollcy Reserves are held lo meet the ftrture commrtments of the Prevschool and to ensure any g8p in funding can be managed effeetively. ensuring the activities of the Prtrschool can continue as requi￿d. 11 is the policy of the Pre-school lo I1￿k lo establish reserves that would equate lo three months, running costs, this being approximately £55,000 based ￿ the expendrture incurred in the 20121 period, with the level of reserves monitored by Trustees regularty. The reserves of the Pre-school shall only be used for the purposes of the Pr&Sch¢x*l and no payment shall be made lo any member, except.. al if that member is employed by the PrfrSch¢x bl as repayment of expenses property incurred on behalf of the Pr&Sehool cl as interest al a reasonable rale on money lent lo the Pf&School One Trustee is remunerated as an employee of the Pre-school. No Trustees afe remunerated for their role as a Trustee. Flnanclal revlew Nursery grants are received from Essex County Council in respect of children over the age of 3 years. Parents of children under 3 years pay fees on a per session basis. Monies made from fundraising activities are used lo provide additional facilities for the Pre•School. During the year, the Pre-Schoc4 recognised income of £204.31712020'. £192.2461. Expenditure on charitable activrties of £217,00612020'. £215,097) was incurred, resulling in a net deficil of £12,68912020.' £22,851). Al the year-end, unrestricted ffijnds of £114,511 12020.. £127.200} were held. In previous accounts'ng perI￿ls. the Charity has wepared aCc￿unIS on a receipts and payments basis. This year. the Charity has prepared accruals accounts under SORP 2015 FRS 102 for the first lime, and the prior year balances have been restated on a like-for-like basis. Further details can be found in Note 14 to the accounts. Slructurg. govgmancg and managemgnt • Constitution Beaches Pre-school is a regislered tharity, number 1028370, and is constytuted under a Pre-school Constitution. Page 3

BEACHES PRESCHOOL TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2021 Structure. govemance and management Icontlnuedl • Meth¢xls of appolntment or olecllon of Tru$leos The management of the Charrty is the responsikn'lity of the Trustees vh)0 are elected and ctropled under the terms of the Pre-schod Constituti￿. • Flnanclal rlsk management The Trustees have assessed the major risks to th8 Charity is exposed, in parb'cular those related lo the operations and finances of the Chanty, and are salisfied that systems and procedures are in place lo miligale exposure to the major risks. Slatem•nt of Trustfjos. r8spon$lbSlltles The Trustees are responsible for preparing the Trustees, ￿port and the financial stslements in accordance with applicable law and United Kingdom Accounting Slandards (United ￿'ngdOM Generally Accepted Accounting Praclicel. The law applicable lo charits'es in England & Wales requires the Tfustees lo prepare financial slalemenls for each financial year vknich give a true an¢J fair view of the stsle of affairs of the Charity and of its incoming resources and application of resources. induding ils income expenditure, for that peri¢xl. In preparing these financial statements, the Trustees are required lo.. select suitable accounting policies and then apply them consistently.. observe the methods and principles of the Charities SORP IFRS 1021., make judgments and aeeounbng eslimales that are reasonable and prudent., stsle whether applieable UK Accounting Standards IFRS 1021 have followed, subject lo any material departU￿S disdosed and explained in the financial stslemenls., prepare the financial slalemenls on Ihe g￿ng concem basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping adequate accounting re￿dS that are Sufficient lo show and explain the Charty's transactions and disdose wth reasonable accuracy al any time the financial posrtion of the Charity and enable them to ensu￿ that the financial stslemenls comply wlh the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the proviwons of the Pre-school Constrtulion. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularilies. Approved by Order of the members of the board of Trustees and signed on their behalf by.. Sian Edv•wrds Trustee Dale. 1910412022 Page 4

BEACHES PRESCHOOL INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Independent examlner's report to the Trustees of Beaehes Pr&School llhe Charlty'l I report lo the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2021. Rgspon$lbllbtles and ba$ls of report As the Trustees of the Charty you are responsible for the p￿paratIOn of the accounts in accordance with the requirements of the Charits'es Act 2011 llhe 2011 Act.). I report in respect of my examination of the Charitrfs aeeounts carried OLrt undef section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independènt •xamlnèrfs stst•m•nt Your attention is drawn to the fad Ihal the Charity has prepared Ihe accounts in accordance with A¢￿untIng and Reporb'ng by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in aecordanee the Finanual Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities. Statement of Recommended Practice issued on 1 April 2005 which is referred lo in the extant iegulalions bul has been withdrawn. understand that this has been done in order for the accounts lo provide a true and fair view in accordance with the Generally Accepted Accountsng Practice effective for reporting penods beginning on or after 1 January 2015. I have eompleled my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect.. accountsng records were nol kept in respect of Ihe Charty a$ required by section 130 of the 2011 Act., or the accounts do not aceord wlh those records., or the accounts do not comply with the ap￿iCable requirements conceming the form and conlenl of accounts sel QLrt in the Charilie$ (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fairf view %thich 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 lo which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Daled.. 2710412022 Cara Miller ACCA 910 The Crescent, Colchester Business Park. Colchester. Essex, C04 9YQ Page 5

BEACHES PRESCHOOL STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 AUGUST 2021 As reslaled Total funds 2020 Unrestricted funds 2021 Total funds 2021 Note Incomo from: Donations 100 Charitable activrties Other trading activities Bank interest r￿e1Vable 202.077 1.992 202,077 1,992 190,219 1,926 Total Income 204.317 204,317 192,246 Expendlturn on: Charitable ath'vilies 217.006 217,006 215,097 Totsl expendlturè 217.006 217,006 215,097 Nèt movèment In funds 112,689} 112,6891 (22,851? Reconclllatlon of funds.. Total funds brought fomard Net movement in funds 10 10 127.200 112,689) 127,200 112,6891 150,051 (22,851) Totsl funds carrled forwa 10 114,511 127,2( The Slalement of financial activities includes all gains and losses recognised in the year. The notes on pages 8 10 18 fomi part of these financial slatements. Page 6

BEACHES PRESCHOOL BALANCE SHEET AS AT 31 AUGUST 2021 As reslaled 2020 2021 Note Flxed assèts Tangible assets 18,112 36.224 18,112 36,224 Curront assets Debtors Cash al bank and in hand 225 100,249 91,448 100,474 93,003 Creditors.. amount¥ falling due within one year {4.0751 (2,027) Net current assets %,399 90.976 Total net assets 114,511 127,200 Charlty funds Unreslricled funds 10 114,611 127,200 Totsl funds 114,511 127,200 The financial stslements were approved and aLrthorised for issue by the Tfustees and signed on their behalf Slan Edwards Trustee Dale. 1910412022 The notes on pages 8 10 18 form part of these financial statements. Page 7

BEACHES PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 General information The Charity is an unincorporated charity regISte￿d the Charity Commission in England and Wales (Charity Regislratson Number 10283701 and constiluled under a Pre-school Consts'tuts'on, adopted 12th November 1991. and amended on 5th Odober 2009 and 14th October 2011. The address of the registered office is given on the Charity information page 1 of these financial stslemenls. The nature of the Chanty's operats.ons and piincipal activities are listed in the Trustees Report. Accountlng pollcl¢s 2.1 Basls of preparatlon of financlal ststements The financial slalements have been prepared in accordance with the Charities SORP IFRS 1021- Accounting and Reporting by Chantses." Statement of Recommendèd Praetice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a Irue and fair. view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required lo provide a 'lrue and fair. view. This departure has involved following the Charitiès SORP IFRS 1021 publishèd in October 2019 rather than the Accounting and Repo￿"n9 by Charities. Slalement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Beaches Pre-school meets the definilion of a publi¢ benefft entity under FRS 102. A$$e15 and liabilities are initially recognised at hislorieal cost or transaction value unless olherwse slated in thè relevant aceounling policy. In previ(KJs accounting periods. the Charity has prepared accounts on a receipts and payments basis. This year. the Charity has prepared accruals accounts under SORP 2015 FRS 102 for the rir$t time. and the prior year balances have been ieslatgd on a likfrfor-like basis. Further details can be found in Note 14 to the accounts. 2.2 Going concem The financial Stslements have been prepared on a going concem basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level ol funds held and the expected level of income and expenditure for 12 month5 from authorising these financial slatemenls, Induding the impact of COVID-19. The budgeted income and expenilure is sufficient with the level of reserves for the Chanty to be able to continue as a going eoncem. Page 8

BEACHES PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Accountlng pollcles Icontlnued) 2.3 Income All income is fecognised once the Charrty has entitlement to the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. Grants, including govemment grants. are induded in the Ststemenl of financial adivities on a receivable basis. The balance of income received for specific purposes bul not expended during the period is shown In the relevant funds on the Balance sheet. Wherè incomè is recÉived in advance of enlillemenl of receipt. Ils recognition is deferred and Included in creditors as deferred income. Where enlillemenl occurs before income is received. the income is accrued. Income lax rKoveralJe in relation to investment income is r8cognised al the lime the inveslm8nl income is re￿1Vable. 2.4 Exp•ndlturn Expenditure is recognis8d once there is a legal or conslructNe obligation lo transfer econornic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of eaeh aetivity afe made up of the total of direct costs and Shared costs. including support CL)sls involved in un(Jertaking each aclivily. Direct costs attributable lo a single activity are allocated directly lo that activity. Shared costs which contribute lo more than one activity and support costs which are not attribulable lo a single activity are apportioned between those activities on a basi$ consistent wth the use of resources. Central staff costs are all¢xaled on the basis of lime spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on chartsble activities is ir￿Urred on directty undertaking the activities ￿lch further the Charity's objectives. as well as any assoaaled Sup￿ costs. All expenditure is inclusive of irrecoverable VAT. 2.5 Interest recèlvable Interest on funds held on deposrt is induded %then receivable and the amount can be measured reliably by the Charity.. this is nomially upon notification of the interest paid or payable by the institution with whom Ihe funds are deposrted. 2.6 Tangible fixed a55ets and depreciation Tangible fixed assets are caytslised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliabty. Tangible fixed assets are initially recognised al cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciats.on and any accumulated impainnenl losses. All costs Incurred to bring a tangible fixed asset into ils intended working condition should be indudeo in the Measu￿Ment of cost. Page 9

BEACHES PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Accountlng pollcles Icontlnued) 2.6 Tangible fixed assets and depreciation Icontinuedl Depreciab'on is charged so 8$ to allocate the cost of tsngible fixed assets less their residual value over their esbmated useful lives. using the straight-line method. Depreciaty'on is provided on the followng basis.. Building improvements 20% straight line 2.7 Debtors Trade and other debtors are re￿gnIsed al the settlement amount after any trade discount offer8d. Prepayments are valued at the amounl prepaid net of any trade discounts due. 2.8 Cash at bank and In hand Cash al bank and in hand indudes cash an(1 short-lemi highly liquid irweslrnenls with a short maturity of three months or less from the date of acquisrtion or opening of the deposit or similar ar￿u￿t. 2.9 Llabllltlos and provbslonj Liabilities are recognised when there is an obligation at the Balance sheet dale as a result of a past event, il is probable that a transfer of economic benefit will be required in Settlement, and the amount of the settlement can be eslimaled reliably. Liabilities are recognised al the amount that the Charity antiupates il wll pay lo settle the debt or the amount il has received as advanced payments for the goods or services it musl provide. Provisions are measured al Ihe best estimate of Ihe amounts required lo Settle the obligation. Where the effect of the lime value of money is material. the provision is based on the present value of those amounts. discounted at the pr￿taX discount rale that reflects the risks specific lo the liability. The unwnding of the discount is recognised in the Stslemenl of financial activities as a finance cost. 2.10 Flnanclal Instrurnents The Charity does not have a material holding in complex financial inslrumenls. The Charity only holds basic Finanual Inslrumenls. The finanual assets and financial liabilities of the Charity are as follows.. Debtors - Trade debkffs are basic finanaal instwments and are debt instruments measured at amortised cost as detailed in Note 8. Prepayments are not financial instruments. Cash al bank- is classified as a basic finanu81 instrument and is measured al face value. grants accrued. accruals aThJ other creditors will be dassified as finanaal instruments, and are measured at amortised cost as detailed in Note 9. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is simply an obligation to deliver ¢harrtable seNi¢es rather than cash or another financial instrument. Page 10

BEACHES PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Accountlng pollcles Icontlnued) 2.11 Pensions The Charity operates 8 defined cL)ntn"bub"on pension scheme and the pension charge represents the amounts payable by the Charity to the lund in respect of the year. 2.12 Fund accounting General lunds are unresth.cted fur￿$ which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charity ￿1¢h have r￿t been designated for other purposes. Investment income, gains and l¢)ss8s are allocaled lo the appropriate fund. Page 11

BEACHES PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Income from charitable activities As reslaled Tolal funds 2020 Unrestrl¢ted lunds 2021 Total funds 2021 Provision of Pre-school education 202,077 202,077 190,219 Total 2020 8$ restated 190,219 190,219 Included in the above are govemment grants of £180,193 12020". £174.1651, re￿iVed from Essex County Council. There were no unlulfilled commitments assoaaled with this income at the ye8r.end date. Anglysl¥ of gxpgndlturg by 8¢¢lvStl Actlvltlej undertaken dlrg¢tly 2021 Support costs 2021 Total funds 2021 CharilatAe activities 176,271 40,735 217,006 As restated Activities undertaken d1￿cl1Y 2020 As restated As reslaled Support Tol81 costs funds 2020 2020 Charitable activities 177,336 37, 761 215,097 Page 12

BEACHES PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Analysis of expenditure by activities Icontinuedl Analysls of dlrect costs As ￿stated Total funds 2020 Total funds 2021 Stsff costs Rent Educational toys and resources Small equipment and materials Refreshments Training Clothing Event¥ 157,212 7.400 468 4,121 3.836 1,089 1,339 155,671 7,400 2,003 5,554 4, 135 1,049 401 1, 123 176,271 177,336 Analysls ofsupport costs As restated To181 funds 2020 Total funds 2021 Depreciation Cleaning Repairs and maintenance Internet and telephone Printing, postage and stationery Sundries Legal and professional Fees Subscriptions Insurance Govemance costs- Independent examiners remuneration Office costs 18,112 1.028 3.723 18,112 553 1,430 1, 160 3, 158 2,507 3,620 1,064 2, 769 1.982 1.894 5.137 1,240 1.590 2.880 60 899 Rates 2.125 2,489 40,735 37,761 Page 13

BEACHES PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Staff costs As reslaled 2020 2021 Wages and salaries Social security costs Contribub'on to defined contribution pension sthemes 152,187 2,867 2,168 149,230 4,213 2,228 157,212 155,671 The average number of persons emFAoyed by the Charity during the year was as follows.. 2021 No. 2020 No. Employe¢$ 11 11 No employee received remuneration amounling lo more than £60,000 in either year. The Tnjslees are considered lo be the Key Management Personnel of the Charity. Further details of Trustee remuneration have been provided in Note 6 to the aecounls. Trusteos. romunoratSon and expens6s During the year, no Trustees received remunerats.on or other benefits in fulfilling their duties as a Trustee (2020- £NIU. One Trustee, Sian Edwards. re￿iVed remuneralion from their employment with the Charity for their ro19 as Pre-school Manager. This remuneration was authorised by the Trustees and was allowable under the goveming Conslilulion. The lotsl remuneration for the period was £26,041 12020." £23,798), wrth pension contributions of £59412020.. £529). During the year ended 31 August 2021, Trustee expenses have been incurred (2020- £NILJ. Page 14

BEACHES PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Tangible fixed assets Bulldlng Improvg- ments Cost or valuatlon Prior Year Adjustment 90,580 At 1 September 2020 las reslatedl 90,660 At 31 August 2021 90,560 Dgprsc5at5on Prior Year Adjuslmenl 54,336 At 1 September 2020 las rest*edl Charge for the year 64,336 18,112 Al 31 August 2021 72,448 Nèt book value Al 31 August 2021 18,112 Al 31 August 2020 (as restaledj 36,224 Debto As rgslaled 2020 2021 Due within one year Trade debtors 226 1,555 225 1,555 Page 15

BEACHES PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Creditors: Amounts falling due within one year As reslaled 2020 2021 Other lax81ion and social securrty Accruals 1,195 2,880 839 1,188 4,075 2,027 10. Statement of funds Statement of funds- curTent year Balance at 1 Sèptember 2020 Balance at 31 August 2021 Income Exp•ndlture Unrestdcted funds General Funds 127.200 204.317 {217,0061 114,511 ststemgnt of funds - prlor year As reslaled Balance al I September As ￿stated As Trstated 2019 Incon7e Expenditur As restaled 88lance al 31 August 2020 Unrestrfcted lunds General Funds 150.051 192.246 (215,097) 127,200 Page 16

BEACHES PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 11. Analysis of net assets between funds Analysls of net assets between lunds - current year Unrgstrlctgd funds 2021 Total funds 2021 Tangible fixed assets Current assets Creditors due ￿thIft one year 18.112 100,474 14,0751 18,112 100,474 14,0761 Total 114,511 114,511 Analysls of n•t assèts botwèen funds- prlor yèar Unrestricted funds 2020 Total funds 2020 Tangible fixed assets Current assets Creditors due wlhin one year 36,224 93,003 (2,027) 36,224 93,003 (2,027) Total 127.200 127,200 12. Opgratlng 1ga$e commltments Al 31 August 2021 the Charity had commitments to make future minimum lease payments under non- cancellable operating leases as follows-. 2021 2020 Premises Not later than 1 year Later than 1 year and not later than 5 years 5,550 7,400 5,550 5,550 12,950 Page 17

BEACHES PRESCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 13. Related party transactiony Other than the dI￿10S￿reS in Notes 5 and 6. there have been no related paty transactions in either reporting period. 14. Prlor year restatement In the current year. the Charity has prepared ils &counls under SORP 2015 FRS 102 for the first time. with previous accounting periods being prepared ￿ a receipts and payments basis. As a result, the prior year balances have been restated. In the prior year accounts, the income. expendrture and bank balance were reported as being £192,186, £213,338 and £38.828 respectively." after feslatsng the prior year balances. these have now been presented as income of £192,246. exFenditure of £215.097 and a bank balance £91,448. Page 18