2024-08-31-accounts - Wanstead Park Preschool

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Trustees’ Annual Report for the period

From 01 September 2023 Period start date To 31 August 2024 Period end date

Charity name: Wanstead Park Preschool (WPPS)

Charity registration number: 1030273

Objectives and Activities

Objectives and Activities
	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	WPPS aims to: • Provide high quality care and education for children below statutory school age; • Work in partnership with parents to help children learn and develop; • Add to the life and well-being of the local community; and • Offer children and their parents a service that promotes equality and values diversity.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	WPPS’s programme supports children to develop the knowledge, skills and understanding they need to achieve the goals of the prime and specific areas of learning of the Early Years Foundation Stage. WPPS believes children are born ready, able and eager to learn. They actively reach out to interact with other people, and in the world around them. Development is not however an automatic process. It depends on each unique child having opportunities to interact in positive relationships and enabling environments. Prime Areas 1. Personal, Social and Emotional Development • Making relationships • Self-confidence and self-awareness • Managing feelings and behaviour 2. Physical Development • Moving and handling • Health and self-care 3. Communication and Language • Listening and attention • Understanding • Speaking

			Specific areas 1. Literacy • Reading • Writing 2. Mathematics • Numbers • Shape, space and measure 3. Understanding the World • People and communities • The world • Technology 4. Expressive Arts and Design • Exploring and using media and materials • Being imaginative Characteristics of Effective Learning 1. Playing and exploring – engagement • Finding out and exploring • Playing with what they know • Being willing to ‘have a go’ 2. Active learning – motivation • Being involved and concentrating • Keeping trying • Enjoying achieving what they set out to do 3. Creating and thinking critically - thinking • Having their own ideas • Making links • Choosing ways to do things
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18		WPPS is an inclusive setting with a friendly, approachable and committed staff team who seek to welcome a diverse range of children and families. The Trustees have had regard to the Charity Commission’s guidance on public benefit.

Additional information (optional)

You may choose to include further statements where relevant about:

SORP reference n/a Para 1.38 Policy on grant making n/a Para 1.38 Policy on social investment including program related investment


Contribution made by volunteers	Para 1.38	WPP is managed by the volunteer trustees who give their time freely and receive no remuneration or other benefits. Trustees carry out fundraising activities, with the help of preschool staff and parents whose children attend the setting
Other		n/a

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	The preschool is staffed by an experienced and well-qualified team. We operate with enhanced ratios of staff to children to focus on individual child development within the EYFS framework. Children with developmental needs are identified and supported at an early stage. We offer a safe, fun and stimulating environment in which children can learn through play. Children have opportunities to grow emotionally as well as physically, to develop their communication and language skills, and to increase their self confidence and self- awareness. A summary of our achievements are as follows: - • Our Ofsted inspection in October 2023 returned a rating of Good • New and old parents continue to be active in fundraising sessions and events such as the family discos and fundraisers. • We have started to introduce additional activities in our sessions provided by external resources and plan to continue this into the new term. • Operationally we introduce the nursery management software Famly as well as the finance software Xero which have both improved the running of the setting.

Additional information (optional)

You may choose to include further statements where relevant about:

Achievements against objectives set	Para 1.41
Performance of fundraising activities against objectives set	Para 1.41
Investment performance against objectives	Para 1.41
Other

Financial Review

	Review of the charity’s financial position at the end of the period	Para 1.21	Annual income from childcare decreased to £155,829 against comparable income of £181,842 the previous year. Income rose in the prior year due to the increased hours offered compared to previous years, however in this financial year we have begun to see the twin effects of a lower birth rate due to Covid and an increase in funded places which are provided by the government at a lower rate than our fee paying places. Coupled with funding rates not increasing and costs continuing to increase disproportionately to income, due to inflation and the national living wage increase driving up staff costs. This resulted in a loss of £10,893.96 compared to a surplus of £3,081 the previous year. The Trustees reassessed our fee structure and instituted a modest raise however we are now more reliant than ever on funded rather than fee paying places which do not bring in the same level of income. Nonetheless, the overall financial position of the charity remains strong. Cash balances at theyearend were £61,955.

Statement explaining the policy for holding reserves stating why they are held	Para 1.22	The trustees aim to hold a minimum of 3 months of operating costs in reserves. Reserves are held to meet unforeseen expenditure, losses due to unexpected closures, to cover sudden reductions in fee income due to changing childcare requirements and to cover terminal obligations if the preschool were to close permanently.
Amount of reserves held	Para 1.22	Reserves were £61,955 at the year end, held in savings and current accounts

Reasons for holding zero reserves	Para 1.22
Details of fund materially in deficit	Para 1.24
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	The charity remains well funded with ample reserves to support the preschool. The Government announcement of funded places for all 2 year olds from April 24 has impacted out income as we either need to offer places at a lower income rate or not have children on role and lose income that way. Along with a lower birth rate and the local primary school nursery having spare places WPPS remains confident but cautious about its future. We continue to feel the impact of increased staffing costs and static government funding for early years settings. We strive to attract and retain the best early years practitioners and are mindful of the issues currently faced in recruitment within the Early years sector.

Additional information (optional)

You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising)	Para 1.47	The principal source of funds is from providing childcare, paid for either by parents or local authority funded early education schemes. For the 22/23-year, funding made up 47% of income, fees 52% and fundraising + other 1%. The major outgoing was wages and staff costs with 79% of expenditure being attributable to this. Rent was 11% of expenditure.
Investment policy and objectives including any social investment policy adopted	Para 1.46	Surplus funds not required for immediate running costs are placed in interest-bearing savings accounts.
A description of the principal risks facing the charity	Para 1.46	The charity’s main activity is operating Wanstead Park Preschool. The principal associated risks are: • Loss of the current premises at St Gabriels church hall; there are no suitable alternatives nearby for permanent occupation. • If the preschool were to lose its ‘good’ rating from Ofsted, it would no longer have access to the free childcare schemes,causinga significant

and sudden loss of revenue. • Large increases in staff costs due to increases in the National Living Wage, not matched by increases in childcare funding and fees. • Inability to recruit adequate qualified staff • Loss of income due to fewer children attending; preschool has a limited catchment area but relies on younger children continually replacing those leaving for school. • A sudden and lengthy closure of preschool, due to damage to premises, health and safety issues, a pandemic, or other factors. Other

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed,royal charter)	Para 1.25	Constitution
How is the charity constituted? (e.g unincorporated association,CIO)	Para 1.25	Trust
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Elected annually by members at AGM in October or at extraordinary GM as needed after request for candidates

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction and training of trustees	Para 1.51	We have a trustee job descriptions and a handbook available to anyone becoming a trustee.
The charity’s organisational structure and any wider network with which the charity works	Para 1.51
Relationship with any related parties	Para 1.51
Other

Reference and Administrative details

Charityname	Wanstead Park Preschool
Other name the charityuses	n/a
Registered charitynumber	1030273
Charity’s principal address	St Gabriel’s Church Hall Park Road London E12 5HQ

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year
Nathalie Priem	Co-Chair
Louise Herington	Co-Chair
Hakim Yadi	Secretary
Tineke Zonneveld	Treasurer
Hannah Wright		22.07.24 - present
Daniel Singer		22.07.24 - present

Corporate trustees – names of the directors at the date the report was approved Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity

Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects

Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of Name Address adviser

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Tineke Zonneveld Position (eg Secretary, Chair, Treasurer etc) Date 30/06/2024

1030273

Wanstead Park Preschool

Recei ts and a ments accounts p p y

For the period 01.09.22 31.08.23 To from

Section A Receipts and payments

A1 Receipts	Unrestricted funds to the nearest £	Restricte d funds to the nearest £	Endowm ent funds to the nearest £	Total funds to the nearest £
Fees	1,558.00	-	-	-
Funding	72,814.07	-	-	-
Fund Raising	2,173.07	-	-	-
Other	- 1,209.17	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
*Sub total*(Gross income for AR)	75,336	-	-	-

A2 Asset and investment sales, (see table).		- - - -	- - - -
	-			-
	-			-
~~*Sub total*~~				-
*Total receipts* A3 Payments
				-

Rent	17,904	-	-	-
Salary	128,551	-	-	-
Pension	2,658	-	-	-
Expenses	33,366	-	-	-
Tax	-	-	-	-
Training	411	-	-	-
Insurance	753	-	-	-
Cost of fundraising	34	-	-	-
Garden	-	-	-	-
**Sub total **	183,676	-	-	-

A4 Asset and investment purchases, (see table)

	-	-	-	-
	-	-	-	-
*Sub total* *Total payments* *Net of receipts/(payments)* A5 Transfers between funds A6 Cash funds last year end *Cash funds this year end*		-	-	-
	- 108,340	-	-
	-	-	-
	-	-	-
	- 108,340	-	-

Section B Statement of assets and lia

----- Start of picture text -----
Unrestri Restricte
cted d funds
Categories Details funds
to nearest to nearest
£ £
Main Account
B1 Cash funds 11,670 -
Reserve Account 50,224 -
Other (revolut card) 60 -
Total cash funds 61,955 -
(agree balances with receipts and
payments account(s)) OK OK
Unrestri Restricte
cted d funds
funds
to nearest to nearest
Details £ £
B2 Other monetary assets - -
- -
- -
- -
- -
- -
Fund to
which Cost
asset (optional)
Details belongs
B3 Investment assets -
-
-
-
-
----- End of picture text -----

B4 Assets retained for the charity’s own use

Details	Fund to which asset belongs	Cost (optional)
		-
		-
		-
		-
		-
		-
		-
		-
		-

B5 Liabilities

Details

Fund to Amount which due liability (optional) relates - - - - -

Signed by one or two trustees on behalf of all the trustees

Signature Print Name

CC16a

Last year

to the nearest £

82,217 45,645 2,767 - - - - - 130,630

The majority of costs of fundraising are offset against the income, barin

130,630

7,794 88,423 1,711 13,356 - 550 679 - - 112,512

112,512

18,120

Endowmen t funds

to nearest £

Endowmen t funds

to nearest £

Current value (optional)

When due (optional)

Date of approval

g £30 which is withing expenses

Independent examiner's report on the accounts

Section A Independent Examiner’s Report Report to the trustees Charity Name Wanstead Park Preschool (WPPS) On accounts for the year 31 August 2024 ended Set out on pages

		Charity no (if any)	1030273

(remember to include the page numbers of additional sheets)	(remember to include the page numbers of additional sheets)		(remember to include the page numbers of additional sheets)

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended DD / MM / YYYY 31/08/2024 .

Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’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 [The charity’s gross income exceeded £250,000 and I am qualified to examiner's statement undertake the examination by being a qualified member of [insert name of applicable listed body]]. Delete [ ] if not applicable.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
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 that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.

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.

Please delete the words in the brackets if they do not apply.

Signed:	S . Raper	Date:	26/06/25

Name:	Simon Raper

Relevant professional qualification(s) or body	ACA

Oct 2018

IER

(if any):

Address:

77 Warren Road London E11 2LX

Section B Disclosure

Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of any items that the examiner wishes to disclose .

Oct 2018

IER