Charity registration number: 1031114
Little Acorns Pre-School
Annual Report and Financial Statements
for the year ended 31 August 2024
Little Acorns Pre-School
Contents
for the year ended 31 August 2024
| Reference and Administration Details | 1 |
|---|---|
| Trustees' Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 9 |
Little Acorns Pre-School
Reference and Administration Details for the year ended 31 August 2024
| Charity name | Little Acorns Pre-School |
|---|---|
| Charity registration number | 1031114 |
| Registered office | 140 Sidegate Lane |
| Ipswich | |
| IP4 4JD | |
| Trustees | Stephen Watt (Chair) |
| Zoe Knights (Secretary) | |
| Sandra Butler | |
| Elizabeth Murton | |
| Naraine Herbert | |
| Charlotte Summers | |
| Jamie Lipscombe | |
| Samantha Lawrence | |
| Accountant | The Laurel Partnership Ltd |
| 16 Broad Street | |
| Eye | |
| Suffolk | |
| IP23 7AF | |
| Independent Examiner | Matthew Aldous |
| The Laurel Partnership Ltd | |
| 16 Broad Street | |
| Eye | |
| Suffolk | |
| IP23 7AF |
Page 1
Little Acorns Pre-School
Trustees' Report For the year ended 31 August 2024
Objectives and Activities
The purposes of the charity are to enhance the development and education of children primarily under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups.
The main activities of the charity in relation to the purposes described above are providing pre school education to children under 5.
The Trustees are aware of the need to give regard to the Charity Commission’s public benefit guidance. The Pre - School is open to any children between the ages of 2 years and 4 years in the Ipswich area.
Achievements and Performance
Providing pre school education to 60 children from the local community. We organised a fayre and a sponsored walk to raise money for our pre-school. The local library (let's talk reading) came in to read and play educational games with the children.
We arranged an afternoon tea party on Mother's Day for our children's parents to enjoy.
Financial Review
Little Acorns Preschool is committed to maintaining financial reserves to ensure the stability and continuity of our services. The reserves are maintained to:
-
Cover redundancy liabilities in the event of closure.
-
Ensure continuity of service provision during unexpected circumstances, such as illness or maternity leave.
-
Support running costs during periods of lower income or funding adjustments.
-
Replace equipment and carry out necessary maintenance.
-
Facilitate relocation if required.
The reserves will consist of:
-
Redundancy reserves sufficient to meet statutory redundancy liabilities;
-
General contingency reserves: We strive to ensure there is equivalent to one term's (one-third of annual) total expenditure, excluding maintenance and depreciation. However, we will ensure there is a minimum of 20% of the annual turnover held as general contingency reserve.
Management of Reserves:
-
Monitoring: The reserves level will be reviewed annually by the committee at the financial year-end.
-
Adjustments: If reserves fall below the target level, efforts will be made to restore them through increased fundraising, earned income, or reduced expenditure. Excess reserves will be utilized to enhance the preschool's quality of provision.
-
Separate account: Reserves will be held in a dedicated savings account, separate from day-to-day operational funds. Redundancy liabilities reserve will be held separately from general contingency reserve funds.
-
Transparency: Information about the reserves policy and the level of reserves held will be included in the Trustees' Annual Report.
-
Review: This policy will be reviewed annually to ensure it remains aligned with the preschool's needs and financial circumstances.
Page 2
Little Acorns Pre-School
Trustees' Report
for the year ended 31 August 2024
…..............Continued
The reserves held at 31 August 2024 are £96,565 (2023: £80,767).
Structure, Governance and Management
The charity is an unincorporated association, governed by model constitution as adopted on 1st April 1985, and as amended on 7th October 1999, 12th May 2003 and 22nd October 2012.
The charity is managed by the officers and other trustees, who are elected by the charity each year at the annual general meeting. Members may join and be accepted by co-opted members .
The trustees who served during the year are as follows:
Stephen Watt (Chair) Samantha Lawrence (Secretary) Sandra Butler Elizabeth Murton Naraine Herbert Charlotte Summers Jamie Lipscombe Zoe Knights
Declaration:
The trustees declare that they have approved the trustees’ annual report detailed above.
Signed on their behalf by: Signature: ____ ___ Full name: Stephen WattStephen Watt (May 29, 2025, 12:12am) ~~bekp~~ Zoe KnightsZoe Knights (May 27, 2025, 2:10pm) ~~2~~ Position: Chair Secretary 29 May 2025 Date: _____
Page 3
Little Acorns Pre-School
Independent Examiner's Report for the year ended 31 August 2024
I report to the Trustees on the accounts of the company for the year ended 31 August 2024, as set out on pages 5 to 9 following.
Respective responsibilities of trustees and examiner:
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The 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.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, 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
-
to state whether particular matters have come to my attention
Basis of independent examiner’s report:
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 no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the following statement.
Independent examiner’s statement:
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 386 of the Companies Act 2006 and
• to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities 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.
Matthew Aldous
…............................................
Matthew Aldous (May 27, 2025, 2:02pm)
Matthew Aldous
27 May 2025
16 Broad Street
Eye Suffolk IP23 7AF
Page 4
Little Acorns Pre-School
Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 August 2024
| Note Incoming resources Donations and legacies 3 Charitable activities Other income Total incoming resources Resources expended Costs of raising funds Expenditure on charitable activities 4 Administrative expenses 5 Total resources expended Net income/(expenditure) for the period Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Restricted Total Funds Funds Funds 2024 £ £ £ 241,930 - 241,930 33,191 - 33,191 2,291 - 2,291 - 277,412 - 277,412 - - - 235,098 - 235,098 6,376 - 6,376 241,474 - 241,474 35,938 - 35,938 - - - 35,938 - 35,938 112,776 - 112,776 148,714 - 148,714 |
As restated Total Funds 2023 £ 225,723 467 |
|---|---|---|
| 226,190 | ||
| - 224,188 5,700 |
||
| 229,888 | ||
| (3,698) - |
||
| (3,698) | ||
| 116,474 | ||
| 112,776 |
The notes on pages 7 to 9 form an integral part of these financial statements
Page 5
Little Acorns Pre-School
Balance Sheet as at the 31 August 2024
| As restated | As restated | ||||
|---|---|---|---|---|---|
| 2024 | 2023 | ||||
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible fixed assets | 6 | 24,341 | 15,976 | ||
| Current assets | |||||
| Trade debtors | - | - | |||
| Prepayments & accrued income | 7 | 994 | 948 | ||
| Cash at bank and in hand | 124,579 | 97,052 | |||
| 125,573 | 98,000 | ||||
| Current liabilities | |||||
| Trade creditors | - | - | |||
| Accruals and deferred income | 8 | 1,200 | 1,200 | ||
| (1,200) | (1,200) | ||||
| Net Current Assets | 124,373 | 96,800 | |||
| Net Assets | 148,714 | 112,776 | |||
| The funds of the charity: | |||||
| Restricted funds | - | - | |||
| Unrestricted funds | 148,714 | 112,776 | |||
| Total charity funds | 148,714 | 112,776 |
For the financial period ended 31st August 2024, the charity was entitled to exemption from audit under section 477 of the Companies House Act 2006 relating to small companies
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on 27 May 2025 and signed on their behalf by:
______ ~~LAD~~ Stephen Watt (May 29, 2025, 12:12am) Stephen Watt (Chair)
________ ~~2pV~~ Zoe Knights (May 27, 2025, 2:10pm) Zoe Knights (Secretary)
Page 6
Notes to the Financial Statements for the year ended 31 August 2024
Little Acorns Pre-School
1 Accounting policies
Basis of preparation: These financial statements have been prepared under the historical cost convention and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and the Charities Act 2011.
Fund Accounting: General funds are unrestricted funds which are available for use at the discretion of the Trustees. Restricted funds are applied in accordance with the wishes of the donor.
Income is credited to the Statement of Financial Activities where the charity is legally entitled to the income and the amount can be qualified with accuracy.
Expenditure is charged to the Statement of Financial Activities on an accruals basis and is inclusive of irrecoverable VAT. Depreciation is provided at an annual rate of 25% straight line on equipment capitalised in the accounts.
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Buildings: 10% straight line method
2 Change in accounting policies:
Due to the increased turnover in the current year, the charity has adopted accruals accounting and has restated the comparatives in line with this change in policy. This has led to a restatement of funds and net income/expenditure as outlined below:
| Funds brought forward as previously stated New building costs capitalised Insurance prepayment Depreciation charge for the year Accrual for accountancy fees Funds brought forward as restated Net income/expenditure as perviously stated New building costs added back Insurance prepayment Depreciation charged in the year Accrual for accountancy fees Net income/expenditure as restated |
2023 £ 97,052 17,751 948 |
|---|---|
| 115,751 (1,775) (1,200) |
|
| 112,776 | |
| (19,422) 17,751 948 |
|
| (723) (1,775) (1,200) |
|
| (3,698) |
Page 7
Little Acorns Pre-School
Notes to the Financial Statements for the year ended 31 August 2024
| …..............Continued | ||
|---|---|---|
| 3 Donations and legacies: Donations and gifts Grants 4 Expenditure on Charitable Activities Staff costs Session costs Premises Repairs & maintenance 5 Administrative Expenses Office expenses Accountancy & independent examination Depreciation |
2024 £ 6,984 234,946 241,930 2024 £ 211,956 10,380 10,237 2,525 235,098 2024 £ 2,274 1,200 2,902 6,376 |
As restated 2023 £ 2,448 223,275 |
| 225,723 | ||
| 2023 £ 200,660 13,217 8,063 2,248 |
||
| 224,188 | ||
| 2023 £ 1,525 2,400 1,775 |
||
| 5,700 |
Page 8
Little Acorns Pre-School
Notes to the Financial Statements for the year ended 31 August 2024
| …..............Continued | ||
|---|---|---|
| 6 Tangible fixed assets Buildings: Cost brought forward Additions Cost carried forward Depreciation brought forward Charge in the year Depreciation carried forward Net book value 7 Prepayments and accrued income Prepayments 8 Accruals and deferred income Accruals |
2024 £ 17,751 11,267 29,018 1,775 2,902 4,677 24,341 2024 £ 994 994 2024 £ 1,200 1,200 |
As restated 2023 £ - 17,751 17,751 - 1,775 1,775 15,976 2023 £ 948 948 2023 £ 1,200 1,200 |
Page 9
Issuer
Issuer The Laurel Partnership Ltd Document generated Tue, 27th May 2025 11:47:07 BST Document fingerprint e9c0a0f00bb52f234900dbcf0bd8ffe4
Parties involved with this document
Document processed
Party + Fingerprint
Tue, 27th May 2025 14:02:19 BST Thu, 29th May 2025 0:12:55 BST Tue, 27th May 2025 14:10:50 BST
Matthew Aldous - Signer (3d210a993ccc54da7e380171155babd1) Stephen Watt - Signer (731527b75a15b9e33cf5e7d111fd32d0) Zoe Knights - Signer (b13c59fd37b6263bb6777e78abe4f475)
Audit history log
Date
Tue, 27th May 2025 11:47:08 BST Tue, 27th May 2025 11:47:08 BST Tue, 27th May 2025 11:48:59 BST Tue, 27th May 2025 11:48:59 BST Tue, 27th May 2025 11:48:59 BST Tue, 27th May 2025 11:48:59 BST
Tue, 27th May 2025 11:48:59 BST Tue, 27th May 2025 11:48:59 BST Tue, 27th May 2025 12:26:25 BST Tue, 27th May 2025 13:36:14 BST Tue, 27th May 2025 14:00:30 BST Tue, 27th May 2025 14:02:19 BST Tue, 27th May 2025 14:07:56 BST Tue, 27th May 2025 14:08:14 BST Tue, 27th May 2025 14:10:50 BST Thu, 29th May 2025 0:07:21 BST Thu, 29th May 2025 0:07:59 BST
Action Envelope generated by Danielle Whatling (176.35.189.101) Document generated with fingerprint e9c0a0f00bb52f234900dbcf0bd8ffe4 (176.35.189.101) Sent the envelope to Matthew Aldous (matthew@thelaurelpartnership.co.uk) for signing (176.35.189.101) Sent the envelope to Stephen Watt (stephenlittleacorns@gmail.com) for signing (176.35.189.101) Document emailed to matthew@thelaurelpartnership.co.uk (35.178.128.43) Sent the envelope to Zoe Knights (zoelittleacorns@gmail.com) for signing (176.35.189.101) Document emailed to stephenlittleacorns@gmail.com (13.42.43.46) Document emailed to zoelittleacorns@gmail.com (18.130.138.218) Matthew Aldous opened the document email. (146.75.174.12) Zoe Knights opened the document email. (66.249.93.40) Matthew Aldous viewed the envelope (176.35.189.101) Matthew Aldous signed the envelope (176.35.189.101) Zoe Knights opened the document email. (66.249.93.37) Zoe Knights viewed the envelope (82.30.84.90) Zoe Knights signed the envelope (82.30.84.90) Stephen Watt opened the document email. (66.249.93.35) Stephen Watt viewed the envelope (92.40.218.187)
Thu, 29th May 2025 0:07:59 BST Stephen Watt viewed the envelope (66.249.81.199) Thu, 29th May 2025 0:12:55 BST Stephen Watt signed the envelope (92.40.218.187) Thu, 29th May 2025 0:12:55 BST This envelope has been signed by all parties (92.40.218.187)