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:
1. Cover redundancy liabilities in the event of closure.
2. Ensure continuity of service provision during unexpected circumstances, such as illness or maternity leave.
3. Support running costs during periods of lower income or funding adjustments.
4. Replace equipment and carry out necessary maintenance.
5. 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:
1. Monitoring: The reserves level will be reviewed annually by the committee at the financial year-end.
2. 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.
3. 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.
4. Transparency: Information about the reserves policy and the level of reserves held will be included in the Trustees' Annual Report.
5. 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)