HORSTED KEYNES PRE-SCHOOL Registered Charity No: 1029557 ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2020
HORSTED KEYNES PRE-SCHOOL INDEX Page 4 Report of the Trustees 8 Independent Examiner's Report 9 Receipts and Payments Account 10 Statement of Assets and Liabilities 11 Note to the accounts
HORSTED KEYNES PRE-SCHOOL TRUSTEES Co-chair Mr Alexander Barblett Mrs Claire Speakman Treasurer Mr George Holloway Secretary Mrs Emma Freeman Committee Mrs Sophie Grounds Mrs Natasha Long Mrs Katie Spetch Mrs Rebecca Barnard (Administrator) PRINCIPAL ADDRESS The Village Hall The Green Horsted Keynes West Sussex RH17 7AP INDEPENDENT EXAMINER . Mrs Helen Hord Oaksview Lewes Road Horsted Keynes West Sussex
HORSTED KEYNES PRE-SCHOOL REPORT OF THE TRUSTEES The trustees present their report and the financial statements for the year ended 3 1st August 2020. The accounts have been prepared in accordance with the Charity's trust deed and applicable law. STRUCTURE, GOVERNANCE AND MANAGEMENT Horsted Keynes Pre-school is governed by the Pre-school Learning Alliance Model Constitution as adopted at the General Meeting on 23rd November 2006. The Pre-school has been registered with the Charity Commission since the 2nd December 1993 and its registration number is 1029557. Our Trustee board is made up of volunteers who often have children at the Pre-school. Trustees are appointed annually at either an Extraordinary General Meeting or the Annual General Meeting which is ordinarily held in November of each year. PRINCIPAL OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT The objectives of the Pre-school are to enhance the development and education of children under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups and by offering appropriate pay, education and care facilities. Pre-school is also committed to instigating, adhering to and furthering the aims of the Pre-school Learning Alliance. The Pre-school aims to offer a public benefit by offering affordable childcare to families in the local area. Our charges for children under three years of age are competitive and children over three pay no top up fee to the government funding allowance. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how activities will contribute to the aims and objectives they have set. ACHIEVEMENTS AND PERFORMANCE Pre-school operations started well during the 2019-20 academic year in temis of delivering our objectives and with the predicted increase in attendance numbers. Unfortunately, this was the year that the Covid Pandemic spread across the World and forced us to close our doors part of the way through the year. We followed Government advice and closed in March 2020 and made the difficult decision not to reopen during the summer tern] and to focus on being ready to re-open for the new academic year in September 2020 with the support of our staff and parents. The quality of the teaching team continued to be very high and we are confident that standards are being maintained to uphold our Outstanding OFSTED rating. Our qualified Pre-school Manager is a valuable asset to the Pre-school and a strong leader of the team. She has continued to improve the planning and implementation of the Early Years initiatives and this has been reflected in our OFSTED rating. We fully support the ongoing training needs of staff. Unfortunately the basic training costs of staff are no longer covered by the council and the Pre-school now has to fund the cost of all training courses. The staff can continue to attend workshops to continue their professional development and enhance their skills.
FINANCIAL REVIEW Recei ts Total Income 2019/20 = £60,779 Total Income 2018/19 = £49,432 Difference = £llJ48 (+23 % yr on yr) Fees- WSCC (£30,243 vs £21,509) vs Parents (£16,860 vs £14,701) WSCC fees increased 40% from the previous year as we have significantly more children in attendance. Parent fees increased slightly however, would have been much higher as the above figure only takes into consideration the first two tern]s as we were closed for the summer terni and didn't charge any parent fees. Parent fees for non-funded and extended sessions remained at £6.00 an hour for 3+ yr olds and £7.00 an hour for under 3s. Funded WSCC Fees are £4.42 per hour for qualifying chilthen and £5.12 for qualifying 2 year olds. Autumn 2019: We started the terni with 19 children in attendance, which was more than we had finished the previous tern] with. l O children were entitled to 3+ FFE and of those, 7 used at least 12 of their 15 hours allowance. 9 children were aged under 3 but most only attended a couple of sessions a week. Spring 2020 Half a dozen new starters brought us to 26 on the books with 13 using the 3+ FFE and we were at capacity for 3 of the 5 morning sessions offered. Summer 2020 Numbers looked to be the same as for the spring term however we made the difficult decision not to re-open for the second half of terni following the government advice that it was safe to do so and instead concentrated on being ready for a September return. Extended Hours As usual, numbers and hours increased throughout the year as children got older and were able to attend longer days but sadly, we weren't able to offer the third afternoon session of Rising 5s due to the Covid restrictions. September 2020 admissions are in line with this year with 20 children confThed for a September start. Gift Aid Having worked hard the previous year to bring ourselves up to speed, we managed to recover a further £1,139 through gift aid this year and this has become an important way for us to raise funds. Fundraisin Income and Donations- Tar et £5 000-£6 000 Once again we have achieved a fantastic level of fundraising and donations which could not be achieved without the hard work of all those involved and the kind support and generosity from many in this village and extended families. The total raised from all of our efforts was £5,570 - a near 50% decrease on the previous year as sadly some of our big events such as Horse Racing on the Green and the Village Walk were cancelled due to the pandemic. We continue to focus our efforts on our 5 main events being the 100 Club, Annual cricket match, Christmas raffle, sponsored walk and Horse Racing on The Green in conjunction with the Horsted cahaeS society. We had one new (resurrected) event in December 2019, which was 'The Girls Night In,. It was a very well organised event and a fantastic success.
ments Total Payments 20119/20 = £52,091 Total Payments 2018119 = £47,635 Difference = £4,455 (increase of 9 % ) On the face of it, a 9% increase in costs doesn't look great however with so many more children in attendance our costs were always going to increase with wages, tax/NI and trainino bein(y the main contributors to this. A further increase in April 2020 to the minimum wage came into force and we therefore realigned our pay structure accordingly. Wages: £34,888 vs £31,512. Up l 0.72 % primarily due to an increase in the minimum wage that came during the year but also due to the fact we increased pernlanent staff from 3 to 4. Rent: £6,135 vs £6,932.1 l. As we were closed for the summer terni 2020 there was no rent to pay for the tern], therefore we are now fully paid up and no longer carry forward the summer terni into the following fmancial year. Training: year. £558 vs £610. As expected we had to renew some courses this year hence the increase in costs from last Equipment: £2,117 vs £2,338. In line with the previous year as we continued to replace old and broken equipment. We also stocked up on PPE equipment over the summer in preparation for re-opening in September. Reserves Polic At Year End we had £5,445.44 in our current account At year end we had £42,500 in our savings account Total of £47,945.44- an increase of £8,97.26 from the previous year. The funds carried forward of £47,945.44 at 31st August 2020 represent the unrestricted and reserves of the Pre-school arising from past operating results. The unrestricted funds represent the free reserves of the Pre-school and in the Trustees, opinion they need to be maintained at a level equivalent to approximately one ternis expenditure (between £15,000 and £20,000) to adequately cover the current level of operating expenditure. Having discussed the level of our reserves the committee have decided with the excess capital held in reserve to create a designated fund with the long-terni aim of finding our own premises. This is still an ongoing situation. 11 COVID-19 Clearly the major challenge to us, and everyone worldwide, this year has been Covidl 9. Being forced to close in late March 2020 was a blow but fortunately, through careful management over the last few years we were in a position where it would not be too damaging fmancially. We were able to make use of the governments furlough scheme which helped keep costs down whilst we were closed. RISK MANAGEMENT The trustees have completed a risk assessment review which is fully documented in line with Ofsted requirements. The purpose of the review is to identify and highlight the major risks to which the Pre-school is exposed and to put in place procedures to mitigate these risks. The Risk Assessment is reviewed and updated on an annual and ongoing basis.
TRUSTEES, RESPONSIBILITIES Charity law requires the trustees to prepare financial statement for each fmancial year which give a true and fair view of the state of affairs of the charity and of the new incoming or outgoing resources of the charity for that period. In preparing those financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; make judgments and estimates that are reasonable and prudent. prepare the financial statements on the going concern basis unless it is inappropriate to assume that the chai.ity will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 201 l. 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 irregularities. TRUSTEES The following list includes all trustees as at the date at the end of the Financial Period: Mr Alexander Barblett Mrs Claire Speakman Mr George Holloway Mrs Katie Spetch Mrs Emma Freeman Mrs Xanthe Holloway Mrs Natasha Long Mrs Rebecca Barnard Co- Chairperson Co-chairperson Treasurer Committee Secretary Marketing alld PR Fundraising Administrator (appointed as Trustee and Chairperson on l 0/11/2016) (appointed as Trustee and Chairperson on l 0/11/2016) (appointed as Trustee on 8/5/2017 and Treasurer 07/11 /2018) (appointed as Trustee on 07/11/2019) (appointed as trustee (07/11/2018) and Secretary on 07/11/2019) (appointed as Trustee on 8/5/2017) (appointed as Trustee on 07/11/2018) The Trustees are also the officers and Committee members of the charity. Signed on behalf of the Trustees Mr George Holloway
HORSTED KEYNES PRE-SCHOOL 11 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HORSTED KEYNES PRE- SCHOOL I report to the trustees on my examination of the accounts of the charity Horsted Keynes Pre-school for the year ended 31 st August 2019 with are set out on pages 9 - 10. Responsibilities and basis of report As the charity trustees of the Horsted Keynes Pre-school 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 Horsted Keynes Pre-school's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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 confwm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Horsted Keynes Pre-school as required by section 130 of the Act; or 2. the accounts do not accord with those records. 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. Signed: Date: Mrs Helen Hord Oaksview, Lewes Road Horsted Keynes West Sussex
HORSTED KEYNES PRE-SCHOOL RECEIPTS AND PAYMENTS ACCOUNT FOR YEAR ENDING 31ST AUG 2020 Unrestricted Funds 2020 Unrestricted Funds Yronyr 2019 Fav/(Unfav) RECEIPTS Fees - WSCC Parents £30,243 £16,860 £4,322 £75 £21,509 £14,701 £11,204 £2,159 £4,322 -£8 HMRC - Furlough Scheme Milk refund Fundraising Restricted Income Capital Grant £83 £2,210 £0 £2,073 £0 £138 £0 Donations Gift Aid Grants £3,360 £1,139 £0 £5,929 £2,740 £0 -£2,569 -£1,601 £0 Interest £0 £193 -£193 100 Club Total receipts £2,570 £60,779 £2,204 £49,431 £366 £11,348 PAYMENTS Wages Taxes Premises/Village Hall Insurance Memberships Catering Consumables ( Art and Craft) Equipment Fundraising Administration Miscellaneous expenses & Gifts £34,888 £3,093 £6,135 £1,062 £493 £31,513 £2,190 £6,932 £838 £838 £639 £434 £1,904 £0 £3,375 £903 -£797 £224 -£345 £508 £325 £1,792 £466 £335 £183 ~£131 -£109 -£112 £466 £34 £285 £301 -£102 Asset purchases Outdoor Area Training End of Terni Parties Unifonn Manaoer Pension 100 club payout Total payments £0 £0 £0 -£109 £376 £130 £558 £239 £182 £160 -£160 £0 £53 -£53 £832 £1,100 £52,091 £519 £313 £224 £876 £47,635 £4,455 Net of receipts / (payments) £8,688 £1,796 £6,892
HORSTED KEYNES PRE-SCHOOL STATEMENT OF ASSETS AND LIABILITIES AS AT 31ST AUGUST 2020 HORSTED KEYNES PRE-SCHOOL STATEMENT OF ASSETS AND LIABILITIES AT 31 AUGUST 2020 UNRESTRICTED UNRESTRICTED FUNDS FUNDS 2020 2019 CASH FUNDS CURRENT ACCOUNT 5,445.44 42,500 5,612.27 33,425.91 SAVINGS ACCOUNT 47,945.44 39,038.18 Reserve Funds 20,000 27,495.44 47,485.44 20,000.00 19,038.18 39,038.18 Designated Funds Total Unrestricted Funds Signed on behalf of the Trustees George Holloway Treasurer Date: 10
HORSTED KEYNES PRE-SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2020 ACCOUNTING POLICIES BASIS OF PREPARATION The accounts have been prepared on the receipts and payment basis. TRUSTEES REMUNERATION No trustees, nor any persons connected with them, have received any remuneration during the year. EMPLOYEES The number of employees at the year end was: AUG-20 Number AUG-19 Number Pre-school staff ( part time) There were no employees whose annual emoluments were £60,000 or more. VILLAGE HALL FEES Fees are paid in arrears however due to there being no rent due for the summer tern] 2020 we are now fully paid up and no longer carry forward this tenn into the next financial period.. 11