Registered charity number 1029866 West Looe Playgroup Report and Accounts 31 August 2024 West Looe Playgroup Report and accounts Contents Page Trustees report Independent examiner's report Statement of financial activities Statement of financial position Notes lo the accounts West Looe Playgroup Regislered number: Trustees. Report 1029866 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 August 2024. The truslees have adopted the provisions of the Statement of Recommended Practice ISORP) "Accounting and Reporling by Charities" in preparing the annual report and financial statements of the charity- The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charitys governing document, the Charities Act 2011 and 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 published in October 2019. Reference and administrative details Charity name Charity number The charity is known as 'West Looe Playgroup.. 1029866 Principal office The Old School Canteen Downs Road Looe Cornwall PL13 2AR Truslees Katherine Badrick Emer McNally Lucy Gillett Rachel Ovens Rachael Shaylor Elizabeth Blewett Anita May Claire Dewe Secreiary Elizabeth Blewett Accountants and independent examiner Wills Accountants Limited Chartered Certified Accountants 2 Endeavour House Parkway Court Longbridge Road Plymouth PL6 8LR Bankers Barclays Bank the Banking Hub Looe Cornwall PL13 2BX Structure, governance and managemenl The trust was established by a Deed of Trust on 12th May 1993. The charity is managed by a board of trustees who meet regularly to discuss its affairs. Trustees are invariably drawn from a cross section of volunteers who are appointed at any general meeting of the charity. In recruiting new trustees, the trustees have regard to the skills and knowledge thal new trustees can bring to the board. West Looe Playgroup Regislered number: Trustees. Report 1029866 Objectives and activities The object of the charity is to provide a nursery facility in West Looe and surrounding areas for children aged 4 months lo 5 years, and a holiday club provision for children aged 5 to 11 years. Public benefil stalement The trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities. Achievements and performance and future plans The Nursery has remained open, welcoming all children into the setling, offering all year-round care to working parents and we care for babies and children up to 5 years. 5 days a week from 8am-6pm, excluding Bank holidays and 2 weeks at Christmas. We have continued to receive funding for 2, 3 and 4 year olds and 30 hour funding for eligible working parents during this time. The nursery continues to be very successful, employing 19 staff members lo work across the 3 playrooms. Fundraising The committee and staff have worked hard to fundraise for the nursery including a Galentines event for parents which raised £635 and a very generous donation of £1,000 from Looe Boat Owners Association. The total fundraising this year has been £3,968.11 which is an amazing effort. We are also extremely fortunate to be well supported by West Looe Trust who heavily subsidise our rent, charging us only £500 per annum, giving us a rent subsidy of £6,517.70, which allows us to ensure that all monies raised can be put back into the nursery to buy resources for the children who attend the nursery. The chairman would like to thank all staff and committee for all the help and support throughout this year, slaff have been flexible with the hours that they work and have coped well with the changes made to the setting which has enabled us to be a viable all-year-round nursery offering quality childcare to the Looe area. We would also like lo thank the parents, carers and local community for their help and support throughout the year. The main income of the charity is now split between funding from Cornwall Council and from fee paying parents who pay to use the nursery all year round. Financial review The truslees are satisfied with the increased income generated by the charity and the suplus remaining al the end of the period. Cash reserves on 31 August 2024 were £113,759.51 (current account £76,268.79, savings account £35,180.78, Fundraising Account £2,309.94). August 2023 was £69,325.90. Approximately one months reseNelcontingency is held in reseNe (currently £35.180.78 is held in a deFX)Sit account). Reserves The trustees have reviewed the level of reseNes held and consider the level of reseNes appropriate for the continuance of the charity's activities. Risk management The trustees monitor and review the key risks to which the charity is exposed and are satisfied that measures are put in place to manage those risks. West Looe Playgroup Regislered number: Trustees. Report 1029866 Truslees, responsibililies in relation lo the financial slatemenls The charity trustees are responsible for preparing a trustees, annual report and 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 charity trustees to prepare financial statements for each 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 charty for thai period. In preparing the financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the applicable Charities SORP- make judgements and estimates thal 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 to enable them to ensure that the financial slatements comply with the Charities Act 2011, the applicable Charilies (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. The truslees are responsible for the maintenance and integrity of the charity and financial information included on the charitvs website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. &4U fi Katherine Badrick Trustee 19 May 2025 West Looe Playgroup Independent Examiners, Report for the year ended 31 August 2024 Independent Examiners. report to the truslees of West Looe Playgroup I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2024, which are set out on pages 1 to 12. Responsibilities and basis of report As the charily's Irustees you are responsible for the preparalion of the accounls in accordance with the requirements ol the Charities Act 2011 {Yhe Acl,). I report in respecl of my examination of the chariws accounts carried out under section 145 of the Act and in carrying out my examinalion I have followed all the applicable Direclions given by the Charity Commission under section 14515){b) of the Act. Independent examiner's statement The charily's gross income exceeded £250.000 and l am qualified to undertake the examination by being a qualified member ol the Association of Chartered Certified Accountants. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any malerial respe￿. accounting records were not kept in respect of the charity as required by section 130 of the Acl,. or 2. the accounts do not accord with those records" or 3. the accounts did 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 Ihal the accounts give a 'true and lair view, which is nol a matter consideied as part of an independenl examination. I have no concerns and have come across no other matters in connection with Ihe examination to which attention should be drawn in Ihis report in order to enable a pioper understanding of the accounts to be reached. Susan P Wills BSG FCA FCCA CTA For and on behalf of= _ Wills Accountants ￿Mited 2 Endeavour House Parkway Courl Longbridge Road Plymouth PL6 8LR 19 May 2025 West Looe Playgroup Statement of financial activities for Ihe year ended 31 August 2024 Unrestricted Restricled funds funds Total Total restated 2023 Notes 2024 INCOMING RESOURCES Donations and grants 1.000 1,000 300 Incoming reSoUr￿S from charitable activities 418,698 418,698 275,423 Income from other trading activities Investment income 383 383 70 TOTAL INCOMING RESOURCES 420,081 420,081 275,793 RESOURCES EXPENDED Expenditure on charitable activities 409.063 100 409,163 271.023 TOTAL RESOURCES EXPENDED 409.063 100 409,163 271.023 NET INCOMINGI(OUTGOING) RESOURCES 11,018 {1001 10,918 4,770 Reconciliation of funds FUNDS BROUGHT FORWARD 37.634 262 37,896 33,126 FUNDS CARRIED FORWARD 48,652 162 48,814 37,896 The statement of financial activities includes all gains and losses recognised in Ihe year. All incoffle and expenditure derives from continuing activities. West Looe Playgroup Statement of financial posilion as at 31 August 2024 Noles 2024 2023 FIXED ASSETS Tangible assets 4.279 1,005 CURRENT ASSErs Debtors Gash at bank and in hand 12 13.186 113,860 127,046 385 69,426 69,811 CREDITORS: amounls falling due within one year 13 {82,511) (32,9201 NET CURRENT ASSETS 44,535 36,891 NET ASSETS 48,814 37,896 FUNDS Unrestricted funds Restricted funds 48,652 162 37,634 262 TOTAL FUNDS 17 48,814 37,896 L4( Katherine Badrick Trustee 19 May 2025 West Looe Playgroup Notes to the Accounts tor the year ended 31 August 2024 1 Accounling policies Basis olpreparation West Looe Playgroup is an unincorporated trust constituted in England. The principal office address is set out in the Trustees. Report. The nature of the charily's operations and principal activities are to provide child care services. The charity constitutes a public beneftt entity as defined by FRS 102. The financial slalemenls have been prepared in accordance wth FRS 102, Accounting and Reporting by Charities.. Sialement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland issued in October 2019, the Charities Act 2011 and UK Generally Accepted Accounting Practice. The charity has applied Updale Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement. At the lime ol approving the financial slalemenls. the trustees have reasonable expectation that the charity has adequate resources to continue in operalion for the foreseeable future. The financial statements have therefore been prepared on a going concern basis. The financial slalemenls are presented in steding which is the functional currency of the chartty and rounded to the nearest £1. The accounls have been prepared on the historical cosl convention. The significant accounling policies applied in the preparation ol these financial statements are set out below. Fund accounting General reserves are unreslricled funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designaled for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charty for a particular purpose. Incoming resources All incoming resources are included in the SOFA when the charity is legally enlttled to the inCOTne and the amount can be quantified with reasonable accuracy. Grants receivable are included in the accounts when the appropriate amounls have been quanlilied. Grants in respect ol fixed assets are credited to income. Income received in advance is deferred until the criteria lor income recognition are mel. Resources expended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related lo Ihal category. Where costs cannot be directly attributed lo a particular heading they have been allocated lo activities on a basis consislenl with use of Ihe resources. Expenditure includes irrecoverable VAT where charged. West Looe Playgroup Notes to the Accounts tor the year ended 31 August 2024 Tangible fixed assets Tangible fixed assels are initially recorded at cost and subsequently rneasured at cost, net of depreciation and any impairment losses. Depreciation has been provided at Ihe following rates in order to write off the assets over their estimated useful lives. Computer equipment Fixtures, fittings and equipment 3 years slraighl line 15¢/0 reducing balance Debtors and creditors All debtors and creditors are recorded al Iransaction price. C8sh and cash equivalents Cash and cash equivalenls comprises cash in hand and deposits held at call with banks. Pensions The company operates a defined contribution pension scheme. Conlribulions are charged lo the statement of financial activities as they become payable in accordance with the rules of the scheme. Volunteers The financial value of the contribution of volunteers to the work of the charity is not recognised in the accounts. 2 Donations and granls 2024 2023 Donations - restricted Isee nole 17) Donations - unrestrided 300 1.000 1,000 300 3 Incoming resources from charitable activities Operation ofplaygroup Fees Fundraising Local government funding Employment granls 2024 2023 214,298 3,681 196,985 3,734 183,513 2,354 89,056 500 418,698 275,423 West Looe Playgroup Notes to the Accounts tor the year ended 31 August 2024 4 Expenditure on charitable a￿1VitieS Operation olplaygroup Direct costs of charitable activities (see note 51 Governance costs Isee note 6) 2024 2023 408,263 900 270,015 1,008 409,163 271,023 5 Direct costs of charitable activities 2024 2023 Food and weekly supplies Repairs and maintenance Rent and rates Light and heat Outings and parties Equipment expensed Depreciation Sundry expenses Postage and stationery Insurance, inspections & licences Telephone Advertising and marketing Staff cosls (see note 101 10,588 13,934 500 6,353 4,017 14,556 316 1,545 1,425 5,163 1,044 680 348.142 6,248 15,505 500 7,359 1,367 6,013 65 1,047 1,328 4,060 957 2,030 223,536 408,263 270,015 6 Governance Costs 2024 2023 Independent examiner remuneralion - for independent examination wo for other work Administration fees Legal fees Staff cosls (see note 10) 900 360 648 900 1,008 7 Fund raising expenses 2024 2023 8 Investment Income 2024 2023 Bank interest received 383 70 383 70 West Looe Playgroup Notes to the Accounts tor the year ended 31 August 2024 9 Truslee remuneration and expenses 2024 2023 Gross remuneration paid to trustees.. Claire Dewe Rachael Shaoor 21,864 19,594 19,058 12,555 41,458 31,613 Under authority provided by the charity's constitution, ￿0 Iruslees received remuneration in their capacity as employees of the charity. Trustees are not rernunerated lor Iheir work as Iruslees. The charity reimburses incidental expenses paid on its behalf by the Iruslees. 10 Staff costs 2024 2023 Wage5 and salaries Staff training Pension (defined conlTibulion} costs Social security costs 320,231 4,655 6,216 17.040 211,510 2,598 2,509 6,919 348,142 223,536 Allocated to.. Direct costs of charitable activities Governance costs {based on actual expenditure) 348,142 223,536 348,142 223,536 Average number of slaff 19 17 Number of staff wilh emoluments in excess of £60,000 11 Tanglble flxed assels Flxtures, fittings & equipment Computer equipment Total Cost At 1 September 2023 Additions 725 3,390 4,115 345 200 1,070 3,590 4,660 At 31 August 2024 545 Depreciation At 1 September 2023 Charge for the year At 31 August 2024 27 190 38 126 65 316 217 164 381 Net book value At 31 August 2024 3,898 381 4,279 At 31 August 2023 698 307 1,005 10 West Looe Playgroup Notes to the Accounts tor the year ended 31 August 2024 12 Deblors 2024 2023 Trade debtors Prepayments 12,732 454 385 13,186 385 13 Creditors: amounts falling due within one year 2024 2023 Trade creditors Other taxes and social security costs Accruals Local government income received in advance Other creditors 949 5,342 35,060 39,678 1,482 82,511 4,478 28,160 282 32,920 14 Pension commitrnents The charity operates a delined conlribulion scheme. The contributions due to the scheme are disclosed within the stafl costs note. 15 Prior year adjustment The prior period results have been adjusted to correct opening staff cosls accrual on transition from the cash basis of accounling. 16 Related party transactlons The charity had no significant transactions vthh related parties during the year. West Looe Playgroup Notes to the Accounts tor the year ended 31 August 2024 17 Analysis ot funds The restricted fund balance represents grants from donors, as detailed below, towards the costs of computer equipment. The equipment is being depreciated in line vilh the charttys accounling policy. All other funds are unrestricted funds. none of which are designated. The fund movements and reconciliation belween opening and dosing balances are shown on the Statement of Financial Aclivilies. 2024 Balance at stsrt date Balance at end d¥te Income Expendllu Restrlcted funds Looe Lions contribution to laptop 262 11001 162 262 11001 162 Unrestrlcted tunds 37.634 420,081 1409,0631 48,652 Total funds 37,896 420.081 1409,1631 48,814 2023 Balance at stsrt d*e Balance at end date Income Expendtture Restrlcted funds Looe Lion5 contribution to laptop 300 1381 262 300 1381 262 Unrestricted funds As originally slated Prior year adjuslmenl {nole 15) As restated 60,746 127.6201 33.126 275,493 1270,9851 65,254 127,620} 37,634 275,493 1270,9851 Total funds 33,126 275,793 1271,0231 37,896 18 Analysis ot net assets between lunds 2024 Restricted funds Unrestricted funds Total Fixed assets Cash at bank Debtors Creditors 162 4,117 113,860 13,186 182.5111 4,279 113,860 13,186 182,5111 162 48,652 48,814 2023 Restrlcted funds Unreytricted funds Total Fixed assets Cash at bank Debtors Creditors 262 743 69,426 385 (32,9201 1,005 69,426 385 132,920} 262 37,634 37,896 12