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← New Millside Pre-School

2023-08-31-accounts

Trustees’ Annual Report for the period Period start date Period end date From To

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Section
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A— — Referenceand administration details

Charity name New Millside Pre-school

Registered charity number (if any) | 1031538

Charity's principal address| New Millside Pre-school,

Narbeth Drive, Aylesbury, Buckinghamshire

Names of the charity trustees who manage the charity

Name of person (or Trustee name Office (if any) | Dates acted if not for whole year ste etaitca an s[amberMason [Tastee |[—~——~Ss=~=<“C~—“—~S~*—~—~—~—“‘—~S~YSCSC<S~S«S] DO eG Names of the trustees for the charity, if any, (for example, any custodian trustees) [Name ——_|__| Dattes acted if not for whole year

Names and addresses of advisers (Optional information)

Type of adviser Name Address Early Years Team Buckinghamshire County Council, County Hall, Walton Street, Buckinghamshire Council ayiestury P20 206 | ee

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

==“SéctionB

£Structuré, governance andmanagement

==“SéctionB
£Structuré, governance andmanagementmanagement		 ==“SéctionB
£Structuré, governance andmanagementmanagement
Description ofthe charity’s trusts
Type ofgoverning document CONSTITUTIONADOPTED31MARCH 1993ASAMENDED 11THMAY1995,22ND
SEPTEMBER 1998, 12TH NOVEMBER 2003
Howthe charity is constituted inet
Thistes selection methads Trustees areappointed annually attheAnnualGenenat Meeting held inour
AutumnTerm every year bythe currentcommittee members (trustees).
Additional governance issues (Optional information)
Youmaychoose to include
additional information, where
relevant. about:		 NewMillside Pre-school haveanumberofpoliciesand procedures in placeand
theseare regularly reviewed and updated asandwhen requiredthroughoutthe
yeartoensurewe remain upto date and currentwith legislation, statutory
requirementsand ensure all information is correct.
e
policies and procedures
adopted forthe induction and Trustee(s) are given a handover fromthe Trustee(s) steppingdown. TheTrustees
training oftrustees; have regular contact with the preschool manager and staff.
e
the charity’s organisational
structure and any wider
networkwith which the charity		 ;
;
The preschoolworks closely with theirallocated KeyContactsfrom
 Buckinghamshire Council and attend regular network meetings.
works;
e
relationship with any related
parties; !
e
trustees’ consideration of
major risks and the system
and procedures to manage
them.
Section C Objectives and activities
TO ENHANCE THE DEVELOPMENTAND EDUCATION OF CHILDREN UNDER
STATUTORY SCHOOL AGE
Summary ofthe objects ofthe
charity set out in its
governingdocument

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‘4

Additional details of objectives and activities (Optional information)

Section D

Achievements and performance

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Section D- ~ — Achievements and performance- Sn eae
Summary of the main The preschool has had another successful year from September 2022 - August
achievements of the charity 2023, offering sessions to chiliren aged 2-5 throughout the preschool year and
during the year successfully completing its aims and objectives as an ‘Outstanding’ Ofsted
registered, charity committee run Preschool.
Occupancy has been very good throughout the year and an increase on previous
years, 985 sessions taken up over the academic year compared to 934 sessions
for the previous academic year.
The preschool had educational visits from Zoolab and Incredible Eggs. Zoolab
offer workshops to show the children minibeasts and educate the children.
Incredible Eggs allow us to hatch eggs at the setting and care for the chicks. Both
are always extremely popular with the children.
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New Millside Pre-school has been very fortunate, considering the recruitment difficulties within the Early Years Sector, to have employed a new Level 3 in October 2022. The preschool still maintains a high staff:children ratio at the setting. The staff employed at New Millside Pre-school worked exceptionally hard throughout the academic year providing outstanding care and support to the children and families. The Trustees are extremely thankful for their hard work and commitment.

Staff also continued to have access to free training through Flick Training via their insurance provider and Educare Training via Early Years Alliance membership and Buckinghamshire County Council have continued to offer training via Teams for certain courses as well as face to face training which has been a great benefit to the staff. Enhancing the staff's knowledge and keeping up to date is critical to the Pre-school and will only improve the offering New Millside is able to provide its children and their families. One member of staff completed their Level 3 Early Years Qualification and we have two members of staff completing their Level 3 Early Years Qualification with the preschool which they are due to finish early next academic year. We also had a member of staff complete Mental Health First Aid training and two complete their Level 3 SENCO Training.

Our parents/carers have been very supportive throughout the year.

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A

ection E Financial review / Brief; statement of the possibleNew Millsideneeds Pre-schoolsuch as, aimspotential to holdfuture an appropriateexpenditure, levelprotect of reservesagainst toa decline meet charity’s policy on reserves in income, potential new opportunities, to remain sustainable and to meet redundancy obligations in the unlikely event of a closure. We recognise that as a charity, we need to balance reserve levels with our duty to spend our income on charitable activity to further the aims and objectives of the pre-school. This amount has been calculated as the equivalent of one terms running costs (approx. 4 months — around £62,408). - In the event of: e Reserves falling belowa significant level: oO The preschool aims to restore the reserves as soon as it is possible to do so by considering the following, reducing outgoings, improving income and to increase fundraising activities and awareness. e Reserves significantly higher than the expected level: o Aplan to be put in place to carefully consider how best to reduce the significant sum over and reduce the difference and ‘Improve the preschool provision and further its aims’ i.e. replace equipment, resources, furniture, renew areas; garden/sen room etc, further training for staff, further educational activities and trips etc’. Staff to be included in this discussion to hear their views. The significant sum over the reserves level aims to be reduced gradually over a 3.5 year period.

in deficit

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Further financial review details (Optional information)
You may choose to include The Preschool ended the 2022-2023 financial year with a surplus of income
additional information, where over expenditure of £14,079. The balance of reserves brought forward on
relevant about: 01/09/22 was £92,244 and the balance carried forward has therefore been
e eo os increased to £106,323 as of 31/08/23.
the charity’s principal
ase (including | Over the period, income totalled £228,871 (2022: £197,430, 2021: £214,140),
which was an increase of £31,441. The main source of funding continues to be
e how expenditure has through Buckinghamshire County Council Early Years Funding £187,691 (2022:
supported the key objectives | £163 003, 2021: £180,535) along with a private income from parents and carers
of the charity; of £23,788, which was a large increase to previous years (2022: £11,077, 2021:
e investment policy and £10,158) & lunch club £7,291 (2022: £5007, 2021: £2639).
objectives including any
ethical investment policy Fundraising continues to be difficult for the preschool compared to pre-covid
adopted. years, but the Pre-school still managed to raise £288 (2022: £576, 2021: £365) a
decrease by half compared to the previous year.
During the same period, expenditure totalled £214,792 (2022: £187,224, 2021:
£184,176) representing an increase of £27,569. Wages, and associated costs of
staff welfare is the main expenditure of the Preschool £187,669 (2022:
£149,871, 2021: £167.897), along with our rent obligations.
_ Whilst the Preschool ended the year with a surplus, it should be noted that
previously, the Local Authority sent a payment in error and is not true ‘income’
for the Preschool. It had been agreed that a total of £15,106.74 would need to
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be returned during the 2022-2023 financial year but due to queries relating toy this amount and delays from the LA answering the queries, only £4,824 was returned during 2022-2023. The following amount of £10,283.74 will be returned early 2023-2024.

When looking at the above comparative figures, it should be kept in mind that the 20-21 financial year was extended to 13 months, and as such do not reflect the same ‘periods’ of operation. Any significant variance in income (EYF Funding) and expenditure (Salaries) can be explained by this difference.

These issues should be considered when looking at the accounts, especially at the comparative figures.

Section F

Other optional information

On 21st July 2022 the Supreme Court made a ruling on a case relating to the calculation of holiday pay for part-year workers and confirmed that all employees are entitled to 5.6 weeks of annual leave per year. As a result, the staff contracts were updated to reflect this contractual entitlement for the upcoming financial year, and a calculation was made in respect of the underpayment of holiday pay over the preceding two years. This liability of £6,999.19 was paid during the 2022-2023 financial year.

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SectionG ~— ~ Declaration pa
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ties elon

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

Signed on behalf of the charity’s trustees

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Signatures Plbyge.\ CasteA9 |
Full mamets)| CHARLOTTE HAM eo‘A eo 9
Position (e.g.
Secretary, Chair, FUNDRAISER Weye—
eenetc 15-5: Bh ob lob Tasen.
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{DEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF NEW MILLSIDE PRE-SCHOOL / | report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2023 which are set out on pages 8 to 10.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). :

| report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ;

Independent examiner's statement

| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records.

| 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.

Signed

NAIA Stade

Natalie Hanlon

Cambridge Bookkeeping Services Woods House Hunts Road Duxford CB22 4RE

Dated: 23 May 2024

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NEW MILLSIDE PRE-SCHOOL REGISTERED CHARITY NO 1031538 RECIEPTS AND PAYMENTS FOR THE YEAR TO 31 AUGUST 2023

Notes .
Unrestricted		 ;
Restricted		 Total
2023		 Total
2022
£ £ £ £
Income
Lunch Club 7,291 > 7,291 5,007
Early Years Funding 187,691 - 187,691 163,033
Bucks Fund Allocations 3 9,698 - 9,698 4,750
Fees 23,788 - 23,788 11,077
Donations 110 - 110 310
Fundraising 288 - 288 576
COVID-19 Grants - - - 1,395
Apprentice Grant - - - 1,000
Interest Income 6 - 6 -
SEND Received in Error - - - 10,283
Total Income 228,871 - 228,871 197,430
Less Operating Expenses
Bank Charges 121 - 121 82
Children's Entertainment & Gifts 36 - 36 760
Computing Equipment 2,393 350 2,743 469
Consumables & Sundries 833 - 833 616
Document Storage 624 - 624 576
Educational Activities 760 - 760 -
Furniture & Equipment 3,028 - 3,028 849
Health, Hygiene & Cleaning 1,790 - 1,790 1,483
Independent Exam &Accountancy fees 2,063 - 2,063 2,20
Insurance 1,885 - 1,885 1,045
IT Software and Consumables 117 - 117 157
Legal & Professional Fees 316 - 316 302
Postage - - - 17
:
Printing, Stationery &Admin 473 - 473 1,100
Rent 9,000 - 9,000 18,000
Repairs & Maintenance 282 - 282 312
StaffTraining 585 - 585 1,609
StaffWelfare (inc. Uniform) 307 - 307 233
Subscriptions 773 - 773 608
SEND Monies Returned 4 4,824 4,824 -
Telephone & Internet 1,396 - 1,396 1,370
Toys, Books & Resources 539 - 539 1,082
Utilities 5 (5,640) - (5,640) 4,410
Wages & Pensions 187,669 - 187,669 149,638
Website Maintenance 330 - 330 300
Total Operating Expenses 214,442 350 214,792 187,224
Surplus/Deficit 14,429 (350) 14,079 10,207
Cash balances b/f 89,677 2,567 92,244 82,307
Balancesc/f 104,106 2,217 106,323 92,244

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:

NEW MILLSIDE PRE-SCHOOL[ASSETS][ AND][LIABILITIES][ AS][AT][31][AUGUST][2023] /’[STATEMENT] REGISTERED[ OF] CHARITY NO 1031538

Notes 2023 2022
£ £
;
RESERVES
Balance b/f 92,243.77 82,037.21
Excess income over expenditure 14,078.94 10,206.56
Total reserves 106,322.71 92,243.77
CASH FUNDS
Main Account 102,621.70 88,293.90
Reserves Account 808.26 802.64
Funding Account 2,892.75 3,147.23
Total current assets 106,322.71 92,243.77
LIABILITIES
SEND Funding received in error 6 10,287.34 15,106.74
PAYE & NI 7 1,070.14 771.73
Early Years Funding received in advance 8 32,474.05 21,817.74
Backdated holiday pay 0.00 6,999.16
Total liabilities 43,831.53 44,695.37
FUNDS OF THE CHARITY
Restricted funds 2,216.75 2,567.16
Unrestricted funds 104,105.96 89,676.61
Totalcharityfunds 106,322.71 92,243.77

The notes on page 10 form an integral part of these accounts.

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NEW MILLSIDE PRE-SCHOOL REGISTERED CHARITY NO 1031538 NOTES TO THE ACCOUNTS

2 EQUIPMENT

3 BUCKS FUND ALLOCATIONS

4 SEND MONIES RETURNED

5 UTILITIES

Notes to the accounts for the year ended 31% August 2023

1 ACCOUNTING POLICIES

Basis of Accounting

The financial statements have been prepared on the receipts and payments basis.

Income

:

All income is included at the time of receipt.

Expenses

All expenditure is accounted for at the time of payment.

All equipment purchased by the charity is included under these headings as an expense. No items have been capitalised.

Comprising £5,643.50 as a SENIF grant, £500 as an AET Impact Award, £1,054 as a Side PIP allocation, and £2,500 as a workforce grant.

£4,825 of SEND funding received in error during previous financial years was returned to the Local Authority.

£5,639.93 was refunded following the discovery that this had been charged in error as it should have been included in the rent.

6 SEND RECEIVED IN ERROR (STATEMENT OF ASSETS & LIABILITIES)

It had been agreed that a total of £15,106.74 would need to be returned during the 20222023 financial year but due to queries relating to this amount and delays from the LA answering the queries, only £4,824 was returned during 2022-2023. The following amount of £10,283.74 will be returned early 2023-2024.

ri

WAGES & PENSIONS

£1,070.14 of PAYE and ER Nl as an outstanding liability.

8 EARLY YEARS FUNDING RECEIVED IN ADVANCE

£32,474.05 of Early Years Funding for the 2023-2024 year received in advance.

6 RESTRICTED FUNDS

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Balance . : Balance
4 August 2022 Incoming = Expenditure 34 august 2023
Lottery Grant 2,576 - (350) 2,217
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