BUBBLES PRESCHOOL BICESTER CHARITY NUMBER: 10?9607 TRUSTEE'S REPORT AND FINANCIAL STATEMENTS for ihe ear ended 31° AUGUST 2024 BUBBLES PRESCHOOL BICESTER INDEX Pages I Trustees, Report Page 4 Independent Examiner's Report to the Trustees Page 5 Statement of Financial Activities Page 6 Balance Sheet Pages 7-9 Notes to the Financial Ststements BUBBLES PRESCHOOL BICESTER Pa TRUSTEES, REPORT The Trustees present their Rewrt, together with Accounts for the year ended 31. Augusl 2024. Le al and Administraiive Inforniation Registered Charity No". 1029607 Governing Instrument: Constitution: adopted l O March 1993 amended 161h December 2008 Principal Address". Souihwold Community Centre Holm Way Bicester OX26 3UU TrusteeslPrincipal Officers: A Mansbridge (Chair) Ms. H. Halstead (Secretary) Ms. S. Ashton (Pre-school Administrator) Ms. S. Brdr Ms. K. Gore J. Paylor Ms. C. Maybury Ms. G. Marsden - appointed 12.11.2024 Bankers: HSBC UK Bank plc 65 Cornmarket Street Oxford OXI 3HY Lloyds Bank plc 9 Sheep Street Bicester Oxon OX26 6JE Coventry Building Society Oakfield House Binley Business Park Binley Coventry CV3 2TQ Independent Examiners- Wilkins & Co Accountants 25a Market Square Bicester Oxon OX26 6AD BUBBLES PRESHOOL BICESTER Pa TRUSTEES. REPORT Conlinued Statement of Trustees, Res onsibilities Charity Law requires the Trustees lo prepare financial statements for each financial y￿￿, in accordance with United King,dom Generally Accepted Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the Charity and of its incoming resources and applications of resources of the Charity for that period. In preparing these financial statrments, the Trustees should follow best practice and.. _ sele￿ suitable accounting w)li¢ies and then apply them consistently. Make judgements and estimates that are reasonable and prudent. State whether applicable UK Accouniing Stsndards have been followed. subject to any material departures disclosed and explained in the financial statements. Prepare the financial ststements on the going concern b&sis. unless il is inappropriate to assume that the Charity will Coniinue to funciion. The Trustees are responsible for keeping proper accounting records, which disclose. with reasonable accurdcy at any time. the financial position of the Charity. and to enable them to ensure that where applieable, the financial statements comply with the applicable law, regulations and trust deed. They are also responsible for safeguarding the assets of the Chariiy, and hence for taking reasonable steps for the prevention and delection of fraud or other irregularities. Governance & Mana ement The Charity's constitution was adopted on the l O, March 19936 and amenda on the 16 December 2008. The appointment of new Trustees 15 subject to the approval of the General Committee Members ai their periodic meetings. New Trustees are given an appropriate induction pn)gramme to the workings of the Charity and receive training as necessary. The Trustee Members meet regularly to administer the Charity. Certain aspects of the day to day running of the Charity are delegaied to specific Trustees as detsiled in the Minutes of the Trustees Meetings. The Trustee Members have overdll responsibility for ensuring the Charity has appropriate systems of control, financial and otherwise. These systems should provide reasonable assurdnce that.. . the charity is operating e￿Ie1¢ntlY and effectively- its assets are safeguarded against unauthorised use or disposition. proper records are mainthined, and financial information used within the charity, or for publication. is reliable, and Ihe charity complies wilh relevant laws and regulations The systems of internal control are designed to provide r￿Onable, but not absolute: assurance against material Misstatement or loss. they include regular consideration by Trustees of financial resulis. and delegalion of authority and segregalion of duiies as deftned above. Risk Review The Trustees have assessed the major risks to which the Charity may be ¢xpDsed' in particular those related to the operation and finances of ihe Trusi and are saiisfie(l that systems are in place to mitigate thetr exposure to the major risks. The Trustees take legal and other professional advice wherever necessary and will always continue to do so. BUBBLES PRESCHOOL BICESTER TRUSTEES, REPORT Continued Ob'ectives and Activities The objectives of the Charity are as follows: _ To enhance the development and educalion of children under statuiory school age by encouraging parents to understsnd and provide for ihe needs of their children through community groups. The Trustees have referred to the guidance in the Charity Commission5 general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities. In particular the Trustees consider how planned athivities will contribute to the aims and objectives they have sel. Achievements and Perfonnance The Charity's finar]cial accounting year ended 319 August 2024 produced the following results= Fee income amounted to £157,987, being an increase of £44.432 Compared with the previous year. Fund raisin8 activities raised a net income of £794, compared to £2,517 in the previous year. The Charity's income was fvrther supplemented by way of Donations. Milk refunds etc. in the sum of £10,065 (2023 - £1,320) and inlerest received of £1.34] (2023 - £480). The Charity's expenses are detailed in the Accounts and comprise the cost running the pre-school (Charitable Activities) £156.978 and Governance Costs £1.799. Overall. costs increased by £17,914 (2023 costs increased by £11,245). Income increased by £38.028 in total when compared to 2023 (2023 income increased by £9,613). These movements mean that overall. the Charity'5 was in surplus in 2024 by £l1.410 (2023 - in deficit by £8.704). The tothl unrestricted funds as at 31° August 2024 amounted to £80.248 and was represented by cash deposits as reduced by creditors. Financial Review Reserves Polic The Charity's financial position has ¢oniinued to be totally secure, in that al no time have commitments been made before funding is in place and the Trustees intend that this wlicy will continue for the protection of Trustees. Investment Polic The monies and property of the Charity nol immediately required for the purFx)se of the Charity may be held or vested in such persons, or not, as the Trustees may from lime to IiKne de￿rrnIne. Future Plan5 These are to ¢ontinue to meet the objective and a￿1ville$ of the Charity as detailed above. ansbridge (Chair) 2025. INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BUBBLES PRESCHOOL BICESTER We report to the trustees on our examination of the accounts of Bubbles Preschool (Bice5ter) (the Charity) for the year ended 31 August 2024, which are sei out on page5 5 to 9. Res onsibilities and basis of re As the charity trustees of the Foundation you are responsible for the preparation of the accounts in acwrdance with the requirements lo the Charities Act 2011 ('the Act,). We report in respect of our examination of the Charity's accounts carried out under section 145 of the 201 l Act and in carrying out our examination we have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Inde endenl examiner's statement We have completed our examination. We confirn) ihat no malerial matters have come to our attention in connection with the examination giving us cause to believe that in any material respect= l ) Accounting records were not kept in respect of the Charity ag required by section 130 of the Aet. or 2) The accounts do not accord with ihose records: or 3) The accounts do nol comply with the applicable requirements concerning the forni 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 independeni examination. We have no concerns and have come across no oiher matters in eonnection wilh the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. LJillein£ a G Wilkins & Co Accountants 25A Market Square. Bicester. Oxon. OX26 6AD 2025. BUBBLES PRESCHOOL BICESTER Pa STATEMENT OF FtNANCIAL ACTIVITIES for the ear ended 3151 AUGUST 2024 2024 Unrestricted Funds 2023 Unrestricted Funds Income Fees Fees Funding OCC her Funding OCC Fund Raising Interest Received Funding for Two-year-olds Special Educational Needs Funding Govemment Funding- Early Years Pupil Premium Donations Milk Refund 22,138 li5,849 28.213 85,342 945 2,517 480 3,698 6.160 3.484 794 1.341 1.000 65 169 enditure a) Charitable Activities Snacks, Milk etc Toys, Craft Materials & Activities Wages So¢ial Security Costs Staff Pension Costs Rent Advertising Long Service Awards Insurance Repairs & Renewals Telephone Postage & Stationery Computer Expenses Course Fees & Training Fees Payable Clothing & Unifomi Laundry & Cleaning Photocopier Hire & Usage Traveling Expenses Bad Debt Written Off RefreshTnents Gift5 Household Support Fund Distribution Consultancy Professional Fees Sundry Expenses Meeiing Expenses 170.187 132,159 .083 235 1,106 14.724 1,514 1.615 10.638 390 600 1,235 639 491 230 154 501 612 618 508 485 126,000 2,337 1,827 10,275 144 1,401 547 234 421 972 504 889 102 574 529 38 86 265 1.050 86 797 3.225 90 1,285 24 156.978 137.749 b) Govemance Costs Accountancy Bank Charges Bank Charges Refunded (inc. Compensation) 13.209 (5,590) 1,736 63 3,182 68 (136) 1,799 3,114 Nel Movement of funds 1.410 (8.704) Total funds brou ht forward I, Se tember 2023 68.838 77,542 Total funds carried forward 31" Au ust 2024 80,248 68.838 BUBBLES PRESCHOOL BICESTER Pa BALANCE SHEET as at 31. AUGUST 2024 2024 Unrestricted Funds Notes ?023 Unrestricted Funds Fixed Assets Current Assets Debtors Cash at Bank Cash in Hand 126 83,643 73.167 Total Current Assets 83.769 73.167 Liabilities Creditors 3,521 4,329 Net Cu￿ent Assets 80.248 68.838 Total Net Assets 80.248 68,838 The Funds of the Chari Unrestricted funds 80,248 68,838 Total Chari Funds 80,248 68,838 Approved y the Trus es and si ned on their behalf by: Mr. A. Mansbridge (Chair) . 2025. BUBBLES PRESCHOOL BICESTER NOTES TO THE FINANCIAL STATEMENTS for the ear ended 31. Au ust 2024. ACCOUNTING POLICIES Bubble Preschool (Bicester) is a registered charity incorporated in England and Wales and governed by Trusi Deed. The principal office address is Southwold Community Centre, Holm Way. Bicesler, Oxon. OX26 3UU. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: StaleTnent of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective l January 2015) - (Charities SORP FRS102), and the Charities Act 201 l and applicable regulations. The accounts have been prepared under the historical cosi conveniion with items recognised at cost or transaction value unless otherwise stated in the relevant nol¢s io th¢se accounts. The accounts are prepared in sterling which is the ￿nctIOn cu￿encY of the charity. Monetary amounts in these accounts are rounded io ihe nearest £. The charity constitutes a public entity as defined by FRS 102. The charity has a reasonable expectation that there are adequate resources to continue in operdtional existence for the foreseeable fuiure. It has therefore continued to adopt the going concem basis in preparing its financial statements. The principal accounting policies adopted in the preparation of the financial statements are as follows.. - a) Fund Accountin The Charity's general fund consists of fvnds, which the Charity may use for its purpose. at its discretion, under the temis of ihe objects clause of the Trust Deed. There are no restricted funds. b) Income Reco nition All income is recognised when there is entiilement, sufficient certainty that receipt of income is probable and the amount of income receivable Can be measured reliably. Interest received is recorded upon notification by the Charity's Bankers enditure Reco nition Liabilities are recognised as expenditure as soon as there is a legal or constrnctive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount of ihe obligation can be measured reliably. All expenditure is accounted for on an accruals basis. d) Governance Costs This comprises all costs incurred in the management and admini5tralion of the Charity during the year under review. e) Charitable Activities These represent the running costs of the pre-school and are accounted for when the Charity 15 committed to paying them. Tan ible Fixed Assets All tangible fixed assets are written off as purchased. g) Debtors Debtors are recognised at their settlement amount. h) Cash at Bank Cash al bank includes cash held on bank Current and deposit accounts and at a building society. BLBBLES PRESCHOOL BICESTER NOTES TO THE FINANCIAL STATEMENTS for the qrended 31. AUGUST 2024 Continued . i) Creditors and Provisions Creditors and provisions are where the charity has present obligations resulting from a past event that will probably result in the transfer of funds to a ihird party and ihe amount due to settle Ihe obligation can be measured or ¢stimated reliably. Creditors and provisions are slated at their settlement amounl. j) C.ornmitments Legally binding and non-legally binding commitments are shown in the Noles 10 the Financial Statements. When financial support is promised, but not contracted, the amount shown in the Financial Statements when paid. k) Reserves The Trustees will not commit funds for future activities or asset purchase, unless monies are in place or the receipt of same is definite. The Tnjstees always ensure thai fund5 are available for overheads for at least one future year. 2. EMPLOYEES Wages including social security and pension costs have been paid in th¢ year as follows: 2024 2023 Pre-school Workers 130.164 16,238 (hher than Ms. K. Gore (a Trustee), who received a salary of £11.701 during the year under review. none of the other Trustees or otTic¢rs in place during the year received any remuneration from the Charity. Ms. Gore's salary was paid to her for her role as a pre-school worker and not as a Trustee. In addition. certain payments were made to Olficers and Trnstees during the year which related to the reimbursemenl of specific expenses incurred by them, on behalf of the Charity. 3. INVESTMENTS The Pre-school hold no quoied investments. All investhieni income arises from funds held on deposit with a Building Society. 4 CREDITORS Amounts falling due within on¢ year- Accruals OCC- fees received in advance Taxation and Social Security 2024 2023 1.509 960 315 3,054 2,012 3.521 4.329 DEBTORS 2024 2023 Trade Debtors Other Debtors 126 126 BUBBLES PRESCHOOL BICESTER NOTES TO THE FINANCIAL STATEMENTS for the ear ended 31" AUGUST 2024 Continued 6. The Charity has taken advantsge of the exemptions available. not to prepare cash flow statements. 7. CONTtNGENT LIABILITIES No contingent liabilities arose at either 31 August 2024 or 31° August 2023. RELATED PARTIES There were no related party trnnsactions in the year. other then those disclosed in note 2 above.