## **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.
**- 1 -**
## **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
**- 2 -**
## **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.
**- 3 -**
## **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
**- 4 -**
## **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.**
**- 6 -**
## **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
£
**-**|
**- 7 -**
## **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**|
**- 9 -**