REGISTERED CHARITY NUMBER: 1028876
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2022
FOR
SALTDEAN PRE-SCHOOL
Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
SALTDEAN PRE-SCHOOL
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2022
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Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 11
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SALTDEAN PRE-SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2022
The trustees present their report with the financial statements of the charity for the year ended 31st August 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
We are committed to enhancing the development and education of children under statutory school age. We aim to support and help each child to reach their full potential by providing high levels of care and education within a nurturing environment.
Our objectives are to provide a child friendly environment that is safe, secure, caring and stimulating and to provide an atmosphere where children feel happy. To promote children's social, intellectual and physical development through play and structured activities. To encourage children to develop independence, self-confidence and self-esteem. To enhance the development and education of children through play and learning so that children are prepared for school life.
We offer a safe, fun and stimulating environment in which children can learn through play. Children have opportunities to grow emotionally as well as physically and to develop their communication and language skills and to increase their self awareness and self confidence.
We work closely with families and offer support where necessary. We actively encourage children from all walks of life and promote equality and diversity by welcoming every child and family into our setting regardless of race, religion, culture, ability or gender.
We follow the Early Years Foundation Stage (EYFS) which is the statutory framework that sets the standards that all early years providers must meet to ensure that children learn and develop well and are kept healthy and safe. It promotes teaching and learning to ensure children are ready for school and gives children the broad range of knowledge and skills that provide the right foundation for good future progress through school and life.
Significant activities
During this academic year, the Committee, management and staff have all worked hard to ensure the future financial stability of the Pre-School. We introduced a new fee structure which commenced in September 2022. We have increased the hourly rates to £7 for 2 year olds and £6.50 for 3 year old and above. During the Autumn term 2022 we trialled later opening times (to 3pm) three days a week and began advertising in order to increase the number of children registered with the preschool. Staff have altered their hours of work to accommodate this. It has been a success and we will keep the later opening times going into the next year.
We implemented a 'sustainability contribution' for 3 year olds and above who receive Early Years Funding. We ask families for a contribution per each session that children attend in order that we can provide some extracurricular activities such as yoga, cookery and music.
All of our practitioners continue to complete regular bespoke training to ensure that they are confident and fluent in the latest Early Years practice. Our most experienced staff continue to support newly qualified staff and apprentices as they learn the skills of the role.
We continue to complete audits and review policies annually, in line with feedback from our stakeholders and recommendations from the Early Years Alliance.
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SALTDEAN PRE-SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2022
OBJECTIVES AND ACTIVITIES
Public benefit
In planning the activities of the Pre School for the year, the Trustees kept in mind the Charity Commission's guidance on public benefit.
FINANCIAL REVIEW
The result for the year was a deficit of £13,663 compared to a deficit of £20,782 last year.
The pre-school is slowly recovering from the closures during the COVID pandemic and the knock on effects; a reduction in numbers of children on the books and a reduction of funding and fee income.
The main source of pre-school financing is government funding of free childcare for 2, 3- and 4-year-olds, this has increased to £4.56 per hour this year, however the running costs remain higher, over £6 per hour.
A much smaller proportion of income comes from parent fees. During the covid pandemic many parents withheld their children from preschool (a trend observed nationally) as such, both these funding streams were considerably reduced. We now have longer opening times which has attracted more families to the setting and that coupled with the introduction of our sustainability contribution has increased the amount of income we have received over the past year.
We were able to resume fundraising activities through 2021/22
The House Project kindly donated £1000 towards our garden project, £4258 was donated to us from the Coop fund and £350 donated by Brighton & Hove Bus Company.
Some of our parents organised a fantastic clothes swap which raised £820 Our Nativity, Easter show and Graduation fun days all raised over £600.
There was an increase in expenditure on staff wages due to salaries increasing in line with the rise in National Living Wage.
The trustees aim to hold a minimum of £15,000 in reserves. Reserves are held to meet unforeseen expenditure, losses due to unexpected closures, to cover sudden reductions in fee income due to changing childcare requirements and to cover terminal obligations if preschool were forced to close permanently.
FUTURE PLANS
The Pre-School will continue to aim to provide a safe, stimulating, happy and caring environment in which children learn to become confident and well-motivated.
We will continue with the fee structure that was introduced in September 2022 and the later opening times (to 3pm) three days a week. Numbers of children have increased and the sustainability contribution has been successful thus far. With the cost of living crisis at the moment we did not think it was the right time to increase the fees again at this point, however we will review an increase in the Autumn or Spring term should there be a need to for financial sustainability.
The Committee will look into additional funding opportunities such as schemes run by other local supermarkets, the Communities Fund from Brighton & Hove Council and Sussex Communities Fund.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity was established under a constitution adopted on 17 December 1990 and amended on 27 April 2011. Under this constitution, the Trustees are elected at the Annual General Meeting.
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SALTDEAN PRE-SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees
New committee members are recruited by being elected and 60% of the committee must be a family member of a child attendance at the nursery.
The day to day management of the nursery was undertaken by Sarah Little and Stella Baker.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees are confident that the charity is a going concern as long as financial budgeting and careful financial monitoring continues.
The risks identified by the charity are:
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Loss of the premises at St Nicholas Church Hall as there are no suitable alternatives nearby.
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If the pre-school were to lose its 'good' rating from Ofsted it would no longer have access to the free childcare schemes causing a significant and sudden loss of revenue
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Large increases in staff costs due to increases in the Living Wage not matched by increases in childcare funding and fees
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Loss of income due to fewer children attending
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A sudden and lengthy closure of pre-school due to damage to premises, health and safety issues, a pandemic or other factors
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1028876
Principal address
St Nicholas Church Hall Saltdean Vale Saltdean Brighton BN2 8HA
Trustees
Mrs S Gilfeather (resigned 1/10/2021) Ms C Rowe Ms J Sagar (resigned 3/11/2022) Ms V Hetherington (resigned 13/7/2023) Ms C Greest Mrs F Cross (resigned 17/11/2021) Ms L Leppard (appointed 1/9/2021) Ms C Washington (appointed 1/9/2021) Ms K Gould (appointed 1/9/2021)
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SALTDEAN PRE-SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2022
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
P J Thacker Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
Bankers
Natwest Pavilion Buildings 8-11 Castle Square Brighton BN1 1DP
Approved by order of the board of trustees on 20[th] August 2023 and signed on its behalf by:
Ms C Rowe - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SALTDEAN PRE-SCHOOL
Independent examiner's report to the trustees of Saltdean Pre-School
I report to the charity trustees on my examination of the accounts of Saltdean Pre-School (the Trust) for the year ended 31st August 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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 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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do 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.
P J Thacker
Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
Date: 29[th] August 2023
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SALTDEAN PRE-SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 532 Charitable activities Charitable activities 58,857 Other trading activities 2 7,515 Investment income 3 6 Other income 85 Total 66,995 EXPENDITURE ON Charitable activities Charitable activities 80,658 NET INCOME/(EXPENDITURE) (13,663) RECONCILIATION OF FUNDS Total funds brought forward 16,542 TOTAL FUNDS CARRIED FORWARD 2,879 |
2021 Total funds £ - 52,332 2,799 - 6,180 61,311 82,093 (20,782) 37,324 16,542 |
|---|---|
The notes form part of these financial statements
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SALTDEAN PRE-SCHOOL
BALANCE SHEET 31ST AUGUST 2022
| 2022 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 5,645 CREDITORS Amounts falling due within one year 6 (2,766) NET CURRENT ASSETS 2,879 TOTAL ASSETS LESS CURRENT LIABILITIES 2,879 NET ASSETS 2,879 FUNDS 7 Unrestricted funds 2,879 TOTAL FUNDS 2,879 |
2021 Total funds £ 17,665 (1,123) 16,542 16,542 16,542 16,542 16,542 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 20[th] August 2023 and were signed on its behalf by:
C Rowe - Trustee
The notes form part of these financial statements
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SALTDEAN PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, including taking into account any potential impact of the Covid-19 pandemic, and on that basis the charity is considered to be a going concern.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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SALTDEAN PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 2022 | 2021 |
||
| £ | £ | ||
| Fundraising events | 7,515 2,799 |
||
| 3. | INVESTMENT INCOME | ||
| 2022 | 2021 |
||
| £ | £ | ||
| Deposit account interest | 6 - |
4. TRUSTEES' REMUNERATION AND BENEFITS
The charity has paid Mrs S Gilfeather £1,841 (2021: £1,048) for Finance and Administration duties, not for her role as Trustee. This is permitted under the constitution and was agreed by the Trustees.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st August 2022 nor for the year ended 31st August 2021.
5. STAFF COSTS
| Wages and salaries Other pension costs |
2022 £ 56,012 588 56,600 |
2021 £ 57,201 635 |
|---|---|---|
| 57,836 |
Key Management Personnel, comprising the Trustees and the Supervisors, remuneration amounted to £23,891 (2021: £26,247).
The average number of employees on a Full Time equivalent basis was 2 (2021: 2).
The average monthly number of employees during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| Total | 7 | 7 |
No employees received emoluments in excess of £60,000.
continued...
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SALTDEAN PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2022 | 2021 | |||
|---|---|---|---|---|
| £ | £ | |||
| Taxation and social security | 79 | 203 | ||
| Other creditors | 2,687 | 920 | ||
| 2,766 | 1,123 | |||
| MOVEMENT IN FUNDS | ||||
| Net | ||||
| movement | At | |||
| At 1/9/21 | in funds | 31/8/22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 16,542 | (13,663) | 2,879 | |
| TOTAL FUNDS | 16,542 | (13,663) | 2,879 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 66,995 | (80,658) | (13,663) | |
| TOTAL FUNDS | 66,995 | (80,658) | (13,663) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1/9/20 | in funds | 31/8/21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 37,324 | (20,782) | 16,542 | |
| TOTAL FUNDS | 37,324 | (20,782) | 16,542 |
7. MOVEMENT IN FUNDS
continued...
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SALTDEAN PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
7. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 61,311 | (82,093) | (20,782) |
| TOTAL FUNDS | 61,311 | (82,093) | (20,782) |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st August 2021 or 31st August 2020 except for those detailed in Note 4.
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