THE OWL PLAYSCHOOL
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2020
Charity number 1028916
THE OWL PLAYSCHOOL FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2020
| CONTENTS | PAGE |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 |
THE OWL PLAYSCHOOL TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2020
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 August 2020
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name The Owl Playschool
Charity registration number 1028916
Address Valley Lane Holt Norfolk NR25 6SF
THE TRUSTEES
The trustees who served the charity during the period were as follows:
| Mrs E Bailey | Mrs E Bailey | (Resigned | 8th November 2021) | |
|---|---|---|---|---|
| Mrs M Williamson | (Resigned | 29th October 2019) | ||
| Secretary | Mr P Wright Mrs A Jenkinson Mr O Ryan Miss G Farrow |
(Appointed 29th October 2019) (Resigned 8th November 2021) (Appointed 8th November 2021) (Appointed 8th November 2021) (Appointed 31st January 2018) |
||
| Independent examiner | Mrs E Hignett | |||
| 7 High Street | ||||
| Cromer | ||||
| Norfolk | ||||
| NR27 9HG |
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Owl Playschool is a charitable trust and a registered charity. The Charity is governed by a Deed of Trust dated 18 June 2003.
The Trustees meet on a regular basis, a minimum of twice a year, in order to monitor the progress of the charity, to make key decisions and to see that the legal requirements such as those of the Charity Commission and other regulatory bodies are adhered to.
OBJECTIVES AND ACTIVITIES
The Charity's objectives are to operate a playgroup for pre-school age children for the benefit of the residents of Holt and surrounding villages.
ACHIEVEMENTS AND PERFORMANCE
The charity continues to have strong support from parents in the community and has a regular core attendance from local children and staff.
FINANCIAL REVIEW
The results for the year and the charity's financial position at the year end are shown in the attached financial statements.
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THE OWL PLAYSCHOOL
TRUSTEES ANNUAL REPORT (continued) YEAR ENDED 31 AUGUST 2020
PLANS FOR FUTURE PERIODS
The charity will continue to support the local community in providing playgroup facilities.
RESPONSIBILITIES OF THE TRUSTEES
The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
· select suitable accounting policies and then apply them consistently;
· observe the methods and principles in the Charities SORP;
· make judgements and estimates that are reasonable and prudent;
· state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
· prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. The trustees 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 irregularities.
INDEPENDENT EXAMINER
Mrs E Hignett has been re-appointed as independent examiner for the ensuing year.
Signed by order of the trustees
………………
Mrs A Jenkinson 28th March 2022
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THE OWL PLAYSCHOOL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE OWL PLAYSCHOOL YEAR ENDED 31 AUGUST 2020
I report on the accounts of the charity for the year ended 31 August 2020 set out on pages 5 to 9.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER
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 under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
• examine the accounts under section 145 of the 2011 Act;
• to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
• to state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S STATEMENT
My examination was carried out in accordance with the General Directions given by the Charity Commission. 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 seeking explanations 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 whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER'S QUALIFIED STATEMENT
The trustees, with my help, have prepared accounts on an accruals basis and the accounts show total income of £87,311. This figure has been taken from both the bank statements and the cashbook. The bulk of the income, being £69,315, has been allocated as 'Nursery voucher scheme' income due to the amounts involved and the narrative shown on the bank statements (showing as 'NCC', being Norfolk County Council). The other income shown is made up of playschool fees, a government grant and bank interest.
The majority of expenses incurred by the charity are wages (£67,018 of the total, £83,248). The expenses have been picked up directly from the bank statements and quantified using invoices supplied to us. There are many cash receipts for the year and these total £727 more than has been withdrawn the bank. This difference has been accounted for as fundraising income.
I have addressed the above issues with the new treasurer of the charity and she is going to keep a record of the petty cash expenses, together with the receipts. The new payroll system has been used again this year and a full reconciliation of the wages has been completed when preparing the accounts.
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THE OWL PLAYSCHOOL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE OWL PLAYSCHOOL (continued) YEAR ENDED 31 AUGUST 2020
In connection with my examination, no other matter except that referred to in the above paragraphs has come to my attention, in accordance with section 130 of the 2011 Act:
(1) which gives me reasonable cause to believe that in any material respect the requirements to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mrs E Hignett Independent examiner
7 High Street Cromer Norfolk NR27 9HG
28th March 2022
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THE OWL PLAYSCHOOL STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 AUGUST 2020
| Total Funds 2020 £ Note INCOMING RESOURCES Incoming resources from generating funds: Activities for generating funds 2 87,299 Investment income 3 12 Other incoming resources 4 - TOTAL INCOMING RESOURCES 87,311 RESOURCES EXPENDED Costs of generating funds: Costs of generating voluntary income 5 (83,248) Fundraising trading: cost of goods sold and other costs 6 - TOTAL RESOURCES EXPENDED (83,248) NET (OUTGOING)/INCOMING RESOURCES FOR THE YEAR 7 4,063 RECONCILIATION OF FUNDS Total funds brought forward 68,733 TOTAL FUNDS CARRIED FORWARD 72,796 |
Total Funds 2019 £ |
|---|---|
| 77,164 10 |
|
| - 77,174 |
|
| (77,028) | |
| - (77,028) 146 |
|
| 68,587 | |
| 68,733 |
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
The notes on pages 7 to 9 form part of these financial statements. - 5 -
THE OWL PLAYSCHOOL BALANCE SHEET AS AT 31 AUGUST 2020
| Note FIXED ASSETS Tangible assets 9 CURRENT ASSETS Cash at bank and in hand CREDITORS: Amounts falling due within one year 10 NET CURRENT ASSETS/(LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES FUNDS Unrestricted income funds 11 Restricted income funds 12 TOTAL FUNDS |
£ £ 63,718 15,484 (6,406) 9,078 72,796 72,490 306 72,796 2020 |
2019 £ |
|---|---|---|
| 66,768 | ||
| 5,857 | ||
| (3,892) | ||
| 1,965 | ||
| 68,733 68,325 408 68,733 |
These financial statements were approved by the members of the committee on and are signed on their behalf by:
.......................... Mrs A Jenkinson 28th March 2022
The notes on pages 7 to 9 form part of these financial statements.
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THE OWL PLAYSCHOOL NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2020
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the recommendations set out in the Accounting and Reporting by Charities: Statement of Recommended Practice 2015 and the Charities Acts.
Fixed assets
All fixed assets are initially recorded at cost.
2. INCOMING RESOURCES FROM ACTIVITIES FOR GENERATING FUNDS
| Unrestricted Funds £ Fundraising events and playschool fees 2,007 Nursery voucher scheme 69,315 |
Unrestricted Funds £ Fundraising events and playschool fees 2,007 Nursery voucher scheme 69,315 |
Total Funds 2020 £ 2,007 69,315 |
Total Funds 2019 £ 8,370 68,294 |
|---|---|---|---|
| Government grants | 15,977 | 15,977 | 500 |
| 87,299 87,299 3. INVESTMENT INCOME Unrestricted Total Funds Funds 2020 £ £ Bank interest receivable 12 12 4. OTHER INCOMING RESOURCES Unrestricted Total Funds Funds 2020 £ £ Other income - - 5. COSTS OF GENERATING VOLUNTARY INCOME Unrestricted Total Funds Funds 2020 £ £ Costs of generating income - Nursery running costs 83,248 83,248 6. FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS Total Funds 2020 £ Fundraising expenses - |
77,164 Total Funds 2019 £ 10 Total Funds 2019 £ - Total Funds 2019 £ 77,028 Total Funds 2019 £ - |
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THE OWL PLAYSCHOOL NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2020
7. NET INCOMING/(OUTGOING) RESOURCES FOR THE YEAR
This is stated after charging:
| 2020 £ Depreciation 3,180 8. STAFF COSTS AND EMOLUMENTS 2020 Total staff costs were as follows: £ Wages and salaries 63,846 Social security costs 3,172 67,018 Particulars of employees: The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows: 2020 No Number of administrative staff 6 |
2019 £ 3,507 2019 £ 59,615 3653 63,268 2019 No 5 |
|---|---|
No employee received remuneration of more than £60,000 during the year (2019 - £Nil).
9. TANGIBLE FIXED ASSETS
| COST At 1 September 2019 Additions At 31 August 2020 DEPRECIATION At 1 September 2019 Charge for the year At 31 August 2020 NET BOOK VALUE At 31 August 2020 At 31 August 2019 |
Fixtures, Freehold Fittings Property & Equipment £ £ 103,394 16,843 - 130 103,394 16,973 40,942 12,527 2,068 1,112 43,010 13,639 60,384 3,334 62,452 4,316 - 8 - |
Total £ 120,237 130 120,367 53,469 3,180 56,649 63,718 66,768 |
|---|---|---|
THE OWL PLAYSCHOOL NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2020
10. CREDITORS: Amounts falling due within one year
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors | 6,406 | 3,892 | |
| Payments received in advance | - | - | |
| 6,406 | 3,892 | ||
| 11. UNRESTRICTED INCOME FUNDS | |||
| Balance at Incoming 1 September 2019 resources |
Balance at 31 August 2020 |
||
| General Funds | £ £ 68,325 4,165 |
£ 72,490 |
|
| 12. RESTRICTED INCOME FUNDS | |||
| Balance at Incoming 1 September 2019 resources |
Balance at 31 August 2020 |
||
| General Funds | £ £ 408 (102) |
£ 306 |
|
| 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS | |||
| Tangible Net current fixed assets assets |
Total | ||
| Unrestricted Income Funds | £ £ 63,412 9,078 |
£ 72,490 |
|
| Restricted Income Funds | 306 - |
306 | |
| Total Funds | 63,718 9,078 |
72,796 |
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