2024-03-31-accounts - Elgin Estate Playgroup

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- Elgin Pre School

AGM

September 2024

We have met all payments due and have a balance of £241,430.00 carrying forward £15,439.99 for 2023/2024.

As you will be aware, we are a non-profit making organisation and all funds have been allocated to remain sustainable. The Early years Alliance have published that although government have increased the funding rates and that any increase is a bonus no matter how small, (NEF) for 2025/2026 this low increase will not cover how we stay sustainable in light of the increased national insurance contributions to be introduced or how this will affect workforce wage increases.

Westminster have advised that they will continue with the free school meal scheme, this will be distributed to our families. The nursery education grants for 2, 3 and 4 year olds continue. There are 30 hours available for qualifying families. apply on-line . www.childcarechoices.gov.uk

We have secured the mandatory business rate relief from Westminster of 80% and a further %5 discretionary relief.

We have not been offered any extra grants from Westminster this year.

Changes

We do not have any significant changes to report.

Fundraising and donations

We are located in an area of high deprivation as identified by Westminster CC. It is becoming increasingly difficult to secure funds in this area. For 2023/2024 we have received “,105.00 in donations.

We would like to remind all parents that we are always on the look out for fundraising ideas.

AOB – none.

Accounts attached.

Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:

Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);

• and with* ✓ Accounting Standards; or Financial Reporting Standards for Smaller Enterprises (FRSSE);

and with the Charities Act.

[** except for the following].

Give details in this box if a different standard has been followed.

-Tick as appropriate:
if all relevant disclosures shown in the pack have been given then please tick “Accounting Standards”;

• if disclosures completed in these accounts have been restricted to those required by the FRSSE, then please tick “Financial Reporting Standards for Smaller Enterprises (FRSSE)”. ** - If no departures from the chosen standards have been made then delete these words; otherwise give details of any changes in the boxes.

1.2 Change in basis of accounting

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year (§ except for the following).

Give details in this box of any material changes that have been made.

§ if no changes have been made to accounting policies then delete these words.

1.3 Changes to previous accounts

No changes have been made to accounts for previous years (§§ except for the following).

Give details in this box of any material changes that have been made.

§§ if no changes have been made to accounts for previous periods then delete these words.

CC17a (Excel)

18/07/2024

Elgin Estate Preschool	Elgin Estate Preschool		Charity No
			(if any)	1028565
	Annualaccountsforthe period					CC17a
Period start date 01/04/2023 To Period end date 31/03/2024 Recommended categories by activity Details of own analysis Note Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ Incoming resources (Note 3) F01 F02 F03 F04 F05 Incoming resources from generated funds - - - - - Voluntary income S01 2,105 - 2,105 4,010 Activities for generating funds S02 164 - - 164 168 Investment income S03 15 - - 15 298 Incoming resources from charitable activities S04 149,695 - - 149,695 130,022 Other incoming resources S05 - - - - S06 151,979 - - 151,979 134,498 *Total incoming resources* Section A Statement of financial activities ~~ie~~
Resources expended (Notes 4-8)
Costs of Generating Funds - - - - - Costs of generating voluntary income S07 - - - - - Fundraising trading costs S08 - - - - - Investment management costs S09 - - - - - Charitable activities See note 4 sec C S10 136,540 - 136,540 142,564 Governance costs S11 - - - - - Other resources expended S12 - - - - - S13 136,540 - - 136,540 142,564 S14 15,439 - - 15,439 8,066) ( S15 - - - - - S16 15,439 - - 15,439 8,066) ( *Net incoming/(outgoing) resources before* *transfers* *Net incoming/(outgoing) resources before* *other recognised gains/(losses)* Gross transfers between funds *Total resources expended* ~~ee~~
Other recognised gains/(losses)
Gains and losses on revaluation of fixed assets
for the charity’s own use	S17	-	- -	-		-
Gains and losses on investment assets	S18	-	- -	-		-
*Net movement in funds*	S19	15,439	- -	15,439	(	8,066)
Total funds brought forward	S20	225,991	- -	225,991		234,057
*Total funds carried forward*	S21	241,430	- -	241,430		225,991

CC17a (Excel)

18/07/2024

Section B Balance sheet

Unrestricted funds £ F01	Restricted income funds £ F02	Total this year Total last year £ £ F04 F05	Total this year Total last year £ £ F04 F05
1,089	-	1,089	1,452
-	-	-	-
-	-	-	-
1,089	-	1,089	1,452

-	-	-	-
-	-	-	-
-	-	-	-
244,667	-	244,667	225,159
244,667	-	244,667	225,159

4,326	-	4,326	620

240,341	-	240,341	224,539

241,430	-	241,430	225,991

-	-	-	-
-	-	-	-

241,430	-	241,430	225,991
		-
241,430		241,430	225,991
-		-	-
	-	-	-
		-	-

241,430	-	241,430	225,991

Signed by one or two trustees on behalf of all the trustees Signature

Signed by one or two trustees on behalf of all the trustees	Signed by one or two trustees on behalf of all the trustees	Signed by one or two trustees on behalf of all the trustees

Print Signature	Date of approval Name
	Lynn Bedwell	11/06/2024
	Nicolas Bedwell	11/06/2024

CC17a (Excel)

18/07/2024

Section C Notes to the accounts (cont)

Note 2 Accounting policies

This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.

INCOMING RESOURCES

Recognition of incoming	These are included in the Statement of Financial Activities (SoFA) when:
resources	• the charity becomes entitled to the resources;
	• the trustees are virtually certain they will receive the resources; and
	• the monetary value can be measured with sufficient reliability.
Incoming resources with	Where incoming resources have related expenditure (as with fundraising or contract income)
related expenditure	the incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations	Grants and donations are only included in the SoFA when the charity has unconditional
	entitlement to the resources.
Tax reclaims on donations	Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to
and gifts	which they relate.
Contractual income and	This is only included in the SoFA once the related goods or services have been delivered.
performance related grants
Gifts in kind	Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised.
	Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or
	distributed by the charity.
	Gifts in kind for use by the charity are included in the SoFA as incoming resources when
	receivable.
Donated services and	These are only included in incoming resources (with an equivalent amount in resources
facilities	expended) where the benefit to the charity is reasonably quantifiable, measurable and material_._
	The value placed on these resources is the estimated value to the charity of the service or
	facility received.
Volunteer help	The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
Investment income	This is included in the accounts when receivable.
Investment gains and losses	This includes any gain or loss on the sale of investments and any gain or loss resulting from
	revaluing investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liability recognition	Liabilities are recognised as soon as there is a legal or constructive obligation committing the
	charity to pay out resources.
Governance costs	Include costs of the preparation and examination of statutory accounts, the costs of trustee
	meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with performance	Where the charity gives a grant with conditions for its payment being a specific level of service
conditions	or output to be provided, such grants are only recognised in the SoFA once the recipient of the
	grant has provided the specified service or output.
Grants payable without	These are only recognised in the accounts when a commitment has been made and there are
performance conditions	no conditions to be met relating to the grant which remain in the control of the charity.
Support Costs	Support costs include central functions and have been allocated to activity cost categories on a
	basis consistent with the use of resources, eg allocating property costs by floor areas, or per
	capita, staff costs by the time spent and other costs by their usage.
ASSETS
Tangible fixed assets for use	These are capitalised if they can be used for more than one year, and cost at least £500. They
by charity	are valued at cost or a reasonable value on receipt.
Investments	Investments quoted on a recognised stock exchange are valued at market value at the year
	end. Other investment assets are included at trustees' best estimate of market value.
Stocks and work in progress	These are valued at the lower of cost or market value.
POLICIES ADOPTED
ADDITIONAL TO OR
DIFFERENT FROM THOSE
ABOVE

CC17a (Excel)

18/07/2024

Section C Notes to the accounts (cont)

Note 3 Analysis of incoming resources

This year Last year £ £ Grant - - Fundraising Donations 2,1054,010 - - - - Total 2,105 4,010 Milk Refund 164 168 - - - - - - - - Total 164 168 Fundraising 15298 - - - - - - - - Total 15298 Preschool Fees 20,63920,500 NEF 129,056109,522 - - - - - - Total 149,695130,022 Activities for generating funds Investment income Incoming resources from charitable activities *Incoming resources may be further analysed if this would help the reader of the accounts.* Analysis Voluntary income	This year Last year £ £ Grant - - Fundraising Donations 2,1054,010 - - - - Total 2,105 4,010 Milk Refund 164 168 - - - - - - - - Total 164 168 Fundraising 15298 - - - - - - - - Total 15298 Preschool Fees 20,63920,500 NEF 129,056109,522 - - - - - - Total 149,695130,022 Activities for generating funds Investment income Incoming resources from charitable activities *Incoming resources may be further analysed if this would help the reader of the accounts.* Analysis Voluntary income	This year Last year £ £ Grant - - Fundraising Donations 2,1054,010 - - - - Total 2,105 4,010 Milk Refund 164 168 - - - - - - - - Total 164 168 Fundraising 15298 - - - - - - - - Total 15298 Preschool Fees 20,63920,500 NEF 129,056109,522 - - - - - - Total 149,695130,022 Activities for generating funds Investment income Incoming resources from charitable activities *Incoming resources may be further analysed if this would help the reader of the accounts.* Analysis Voluntary income
Grant	-	-
Fundraising
Donations	2,105	4,010
	-	-
	-	-
Total	2,105	4,010

Milk Refund	164	168
	-	-
	-	-
	-	-
	-	-
Total	164	168

Fundraising	15	298
	-	-
	-	-
	-	-
	-	-
Total	15	298

Preschool Fees	20,639	20,500
NEF	129,056	109,522
	-	-
	-	-
	-	-
Total	149,695	130,022

CC17a (Excel)

18/07/2024

Section C Notes to the accounts (cont)

Note 4 Analysis of resources expended

Resources expended may be further analysed if this would help the reader of the accounts.

Analysis	This year Last year £ £	This year Last year £ £
	-	-
	-	-
Total	-	-

	-	-
	-	-
Total	-	-

	-	-
	-	-
Total	-	-

Nursery Consumables and Snacks	7,222	3,454
NurseryWorkers Salaries	107,306	118,065
Trips	270	1,405
Rent	7,750	7,750
ComputerCosts	779	760
Printing, Office Stationery andPostage	315	47
AccountancyFees	1,068	1,062
Subscriptions	326	190
Depreciation	363	484
Training Costs	95	75
Telephone	1,577	1,264
InKind	1,369	1,135
Refreshments	3,306	3,237
Lunch VoucherScheme	3,341
BankCharges	212	171
Travel Expenses	140	2,468
Insurance	648	630
LegalandProfessional		60
Repairs andRenewals	234	94
Cleaning	219	213
Total	136,540	142,564

	-	-
	-	-
Total	-

CC17a (Excel)

18/07/2024

Section C Notes to the accounts (cont)

Note 5 Support Costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

*support costs.*
Support cost type	Fundraising activity £	Charitable Activity £	Governance Activity £	Total Cost £
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
Total	-	-	-	-

Note 6 Details of certain items of expenditure

6.1 Trustee expenses

Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees. If no expenses were paid, please enter ‘None’ in the appropriate box(es).

Number of trustees who were paid expenses Nature of the expenses

Total amount paid

This year Last year

6.2 Fees for examination or audit of the accounts

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).

*appropriate box(es).*
Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor Independent examiner’s or auditors' fees for reporting on the accounts	This year £	Last year £

	403	403

CC17a (Excel)

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Section C Notes to the accounts (cont)

Note 7 Paid employees Please complete this note if the charity has any employees.

7.1 Staff Costs

Fundraising Charitable Activities Governance Other Total Gross wages, salaries and benefits in kind The parts of the charity in which the employees work 7.2 Average number of full-time equivalent employees in the year Employer’s National Insurance costs Pension costs Total staff costs	This year £	Last year £
	105,335	110,377
	1,971	7,688
	-	-
	107,306	118,065

nt employees in the year	This year Number	Last year Number
Fundraising	-	-
Charitable Activities	6	6
Governance	-	-
Other	-	-
Total	6	6

7.3 Defined contribution pension scheme Please complete if a defined contribution pension scheme is operated. Brief details of the scheme

The costs of the scheme to the charity for the year The amount of any contributions outstanding at the year end The amount of any contributions prepaid at the year end

	This year	Last year
	£	£

CC17a (Excel)

18/07/2024

Section C Notes to the accounts (cont)

Note 8 Grantmaking

Please complete this note if the charity made any grants or donations which in aggregate form a material part of the charitable activities undertaken.

8.1 Total value of grants

8.1 Total value of grants
Purpose for whichgrants made	Grants to institutions Total amount £	Grants to individuals Total amount £
	-	-
	-	-
	-	-
	-	-
	-	-
	-	-
*Total*	-	-

8.1 Grantmaking costs

If the charity’s accounts are prepared on the “activity basis” please give details of any support cost associated with grantmaking. Please enter “Nil” if the charity does not identify and/or allocate support costs.

Support costs of grantmaking

8.3 Grants made to institutions

If the charity has made grants to particular institutions that are material in the context of its grantmaking please give details of the institution supported, purpose of the grant and total paid to each institution listed. Sufficient information should be given to provide a reasonable understanding of the range of institutions supported.

*institutions supported.*
Names of institutions	Purpose	Total amount of grantspaid £
		-
		-
		-
		-
		-
		-
		-
		-
		-
		-
*Total grants to institutions*		-

CC17a (Excel)

18/07/2024

Section C Notes to the accounts (cont)

Note 9 Tangible fixed assets

Please complete this note if the charity has any tangible fixed assets

9.1 Cost or valuation

Freehold land & buildings £	Other land & buildings £	Plant, machinery and motor vehicles £	Fixtures, fittings and equipment £	Payments on account and assets under construction £	Total £
-	-	4,826	165	-	4,991
-	-			-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	4,826	165	-	4,991
-	-	3,498	41	-	3,539
-	-	332	31	-	363
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	3,830	72	-	3,902

-	-	1,328	124	-	1,452
-	-	996	93	-	1,089

9.4 Revaluation

If any fixed assets have been revalued please give details of the valuer and method of valuation

* The "transfers" row is for movements between fixed asset categories.

** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual deduction.

CC17a (Excel)

18/07/2024

Section C Notes to the accounts (cont)

Note 10 Investment assets

Please complete this note if the charity has any investment assets.

10.1 Fixed assets investments

Add/(deduct):net gain/(loss) on revaluation Carrying (market) value at beginning of year Carrying (market) value at end of year Add:additions to investments at cost Less:disposals at carrying value	£
	-
	-
	-
	-
	-

Please provide below:

10.2 A breakdown of the market values of investments shown above agreeing with the balance sheet row B03.

10.3 A breakdown of the income from investments agreeing with SOFA row S03.

Investments in subsidiary or connected undertakings and companies Analysis of investments Other investments Total Investment properties Securities not listed on a recognised Stock Exchange Cash held as part of the investment portfolio Investments listed on a recognised stock exchange or held in common investment funds, open ended investment companies, unit trusts or other collective investment schemes	10.2 Market value at year end £	10.3 Income from investments for the year £
	-	-
	-	-
	-	-
	-	-
	-	-
	-	-
	-	-

10.4 Material investment holdings

If any single investment is material in terms of its value (for example represents more than 5 per cent of the value of the charity’s total investments) please provide details.

Investment held

Market Value

CC17a (Excel)

18/07/2024

Section C Notes to the accounts (cont)

Note 11 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.

Amounts falling due within oneyear	Amounts falling due within oneyear	Amounts falling due after more than oneyear	Amounts falling due after more than oneyear
This year £	Last year £	This year £	Last year £
-	-	-	-
-	-	-	-
		-	-
-	-	-	-
-	-	-	-

Note 12 Creditors and accruals

Please complete this note if the charity has any creditors or accruals. 12.1 Analysis of creditors

Amounts falling due within oneyear	Amounts falling due within oneyear	Amounts falling due after more than oneyear	Amounts falling due after more than oneyear
This year £	Last year £	This year £	Last year £
	-	-	-
-		-	-
-	-	-	-
3,923	217	-	-
403	403	-	-
4,326	620	-	-

12.2 Security over assets

If any loan, overdraft or other creditor holds a charge or other security over any assets of the charity please provide details.

CC17a (Excel)

18/07/2024

Section C Notes to the accounts (cont)

Note 13 Endowment and restricted income funds

Please complete this section if the charity has any endowment or restricted income funds.

13.1 Funds held

Please give a brief description of any of the following type of funds held by the charity:

permanent endowment funds (PE);
expendable endowment funds (EE); and
restricted income funds, including special trusts, of the charity (R).

Type PE, EE Fund Name Purpose and Restrictions or R

13.2 Movements of major funds

Please give details of the movements of the major funds summarised in the restricted and endowment columns of the Statement of Financial Activities.

Fund names	Fund balances brought forward £	Incoming resources £	Outgoing resources £	Transfers £	Gains and losses £	Fund balances carried forward £
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
Total Funds	-	-	-	-	-	-

13.3 Transfers between funds

Please give details of any transfers between funds.

From Fund (Name) To Fund (Name) Reason Amount

CC17a (Excel)

18/07/2024

Section C Notes to the accounts (cont)

Note 14 Transactions with related parties

If the charity has any transactions with related parties (other than the trustee expenses explained in note 6) details of such transactions should be provided in this note. If there are no transactions to report, please enter “None” in the relevant boxes.

14.1 Remuneration and benefits

Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee or other related parties by the charity or any institution or company connected with it.

Name of trustee or connected party	Legal authority (eg order, governing document)	Amounts paid or benefit value	Amounts paid or benefit value
		This year £	Last year £

14.2 Loans

Please give details of and amounts owing to or from the charity’s trustees or other related parties by the charity at the year end.

Due to trustees and related parties Due from trustees and related parties	Name of trustee or connected party	Legal authority	Amount owing	Amount owing
			This year £	Last year £

14.3 Other transaction(s) with trustees or related parties

Please give details of any transaction undertaken by (or on behalf of) the charity in which a trustee or related party has a material interest.

Name of the trustee or relatedparty	Relationship to charity	Description of the transaction(s)	This year £	Last year £

CC17a (Excel)

18/07/2024

Section C Notes to the accounts (cont)

Note 15 Additional Disclosures

The following are significant matters which are not covered in other notes and need to be included to provide a proper understanding of the accounts. If there is insufficient room here, please add a separate sheet.

No additional disclosures

CC17a (Excel)

18/07/2024

Independent Examiner's report to the Trustees of Elgin Preschool

I report on the accounts of Elgin Preschool for the year ended 31st March 2024. Respective responsibilities of Trustees and Examiners The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year and that an independent examination is needed. It is my responsibility to: - examine the accounts (under section 145 of the Charities Act 2011); - to follow the procedures laid down in the General Directions of the Charity Commission (under section given by the Charity Commissioners under section 145 (5) (b) of the Act and - to state whether particular matters have come to my attention.

Basis of independent examiners' report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanation from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the view given by the accounts. Independent examiners' statement In connection with my examination, no matter has come to my attention: which gives me reasonable cause to believe that, in any material respect, the requirements: (a)not to comply with the accounting requirements of the Statement of Recommend Practice: Accounting and Reporting by Charities have been met; or b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to bereached.

Miss Sally J Wainwright ACMA Chartered Management Accountant Independent Examiner 17[th] September 2024