Little Oaks Pre-School
Charity No. 1032642
Trustees' Report and Unaudited Accounts
31 August 2020
Little Oaks Pre-School CONTENTS
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Statement of Cash flows | 7 |
| Notes to the Accounts | 8 to 13 |
| Detailed Statement of Financial Activities | 14 to 15 |
Page 1
Little Oaks Pre-School TRUSTEES ANNUAL REPORT
The Trustees present their report with the unaudited financial statements of the charity for the year ended 31 August 2020.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1032642
Trustees
The following Trustees served during the year:
R. Boyce S. Brown J. Hodges S. Homes P.T. Smyth
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Accountants
AJR & Co Ltd The Barn 11a Queen Catherine Road Steeple Claydon Buckinghamshire MK18 2PZ
OBJECTIVES AND ACTIVITIES
To enhance the development and education of children under statutory school age in a parent-involving community-based group.
Safeguarding the child and providing the services specified in the purposes stated above including the community and parents as partners in a safe enviroment.
The Charity has provided a safe, secure and stimulating environment through involving the children in talking, observing, questioning, experimenting, testing, repeating, reflecting and responding to adults and to each other. By so doing, the charity is trying to educate children harmoniously with the community. The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
Education of students in line with National Curriculum
Extra curricular activities and events to further develop and educate students
ACHIEVEMENTS AND PERFORMANCE
Achievements include: Staff changes - Shelley has left as a full-time member of staff, but remains on the bank staff list, offering support when needed. Kirsty Johnson has joined as a new deputy and Jodie Edwards is providing maternity cover. We have also gained Dee Deacon, Victoria Lockyer and Alex Wilson as Bank Staff. Educational Topics throughout the period have included friendships, Harvest Festival, growth and decay, fireworks/Diwali, Remembrance Sunday, Christmas cooking, Christmas concert, Christmas party, nursery rhymes, Chinese New Year, Carnival of Culture, cooking and healthy lifestyles, families. Wednesday Club attendance, sports day, Eid, getting ready for school.
Page 2
Little Oaks Pre-School TRUSTEES ANNUAL REPORT
Fundraising was ongoing throughout the year and included Harvest Festival cake auction which raised just under £1,000, the Carnival of Culture and the Easter Egg Hunt, plus individual donations totalling £450. In addition, we were grateful to be awarded a grant from the Rothschild foundation which will be used to buy an additional canopy, so we are able to maximise use of the outdoor space. We were also able to support the Poppy appeal and Samaritan show boxes with £20 each.
CIO Status Change – Most will be aware that we have changed status. This will not affect the day-to-day running of pre-school but impacts the way the Committee functions – particularly that there are no longer Chair / Treasurer / Secretary roles, but a group of Trustees. We are very keen to recruit new members. The committee are involved in key decision making for pre-school, meeting every half-term. The new CIO status means no personal responsibility or liability.
Performance issues raised included: None
Other issues Parking - Thank you for adhering to the no parking on site – parking is an absolute premium on school ground and Little Oaks only has two spaces allocated. Only blue badge or prior agreement in writing from the school can park on school site. 30 Hours – over ¼ of our children benefit, but due to being oversubscribed we can only offer between 3 and 4 full days.
FINANCIAL REVIEW
The trustees consider the financial performance by the charity during the year to have been satisfactory. The trustees Little Oaks Pre-School have set guidelines of the charity to have reserves of at least three months running costs. The reason for doing this is in case of a source of funding is lost, unforeseen emergencies or for redundancy costs.
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.
Statement of trustees' responsibilities in relation to the financial statements
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 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 statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
P.T. Smyth Trustee 25 June 2021
Page 3
Little Oaks Pre-School INDEPENDENT EXAMINERS REPORT
Independent Examiner's Report to the trustees of Little Oaks Pre-School
I report to the trustees on my examination of the accounts of Little Oaks Pre-School for the year ended 31 August 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.
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'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the charity'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 examiner's statement
I have completed my examination. I can 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:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those 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.
Mr Andrew Richardson BA FCA Institute of Chartered Accountants in England & Wales AJR & Co Ltd
The Barn 11a Queen Catherine Road Steeple Claydon Buckinghamshire MK18 2PZ 25 June 2021
Page 4
Little Oaks Pre-School STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 August 2020
| Notes Income and endowments from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investments 6 Total Expenditure on: Charitable activities 7 Other 8 Total Net gains on investments Net income 9 Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2020 £ 174,747 16,918 - - |
Total funds 2020 £ 174,747 16,918 - - |
Total funds 2019 £ 170,260 23,095 1,248 15 |
|---|---|---|---|
| 191,665 5,968 180,134 |
191,665 5,968 180,134 |
194,618 7,915 174,688 |
|
| 186,102 - |
186,102 - |
182,603 - |
|
| 5,563 | 5,563 | 12,015 | |
| 5,563 | 5,563 | 12,015 | |
| 5,563 114,277 |
5,563 114,277 |
12,015 102,262 |
|
| 119,840 | 119,840 | 114,277 |
Page 5
Little Oaks Pre-School BALANCE SHEET at 31 August 2020
| Charity No. 1032642 Fixed assets Tangible assets 11 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 12 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 13 Unrestricted funds 13 General funds Reserves 13 Total funds |
2020 £ 11,849 11,849 112,969 112,969 (4,978) 107,991 119,840 119,840 119,840 119,840 119,840 119,840 |
2019 £ - |
|---|---|---|
| - 115,285 |
||
| 115,285 (1,008) |
||
| 114,277 114,277 |
||
| 114,277 | ||
| 114,277 | ||
| 114,277 | ||
| 114,277 | ||
| 114,277 |
Approved by the trustees on 25 June 2021
And signed on their behalf by:
P.T. Smyth Trustee 25 June 2021
Page 6
Little Oaks Pre-School STATEMENT OF CASH FLOWS for the year ended 31 August 2020
| Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Increase in trade and other payables Net cash provided by operating activities Cash flows from investing activities Purchases of property, plant and equipment Net cash (used in)/from investing activities Net cash from financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances |
2020 £ 5,563 891 3,970 10,424 (12,740) (12,740) - (2,316) 115,285 112,969 112,969 112,969 |
2019 £ 12,015 - 258 |
|---|---|---|
| 12,258 - |
||
| 15 | ||
| - | ||
| 12,273 | ||
| 103,012 | ||
| 115,285 | ||
| 115,285 | ||
| 115,285 |
Page 7
Little Oaks Pre-School NOTES TO THE ACCOUNTS
for the year ended 31 August 2020
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
-
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
-
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 8
Little Oaks Pre-School NOTES TO THE ACCOUNTS
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
Page 9
Little Oaks Pre-School NOTES TO THE ACCOUNTS
2 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Donations and gifts from individuals Revenue grants from government and public bodies Revenue grants for COVID-19 (JRS Grants) |
Unrestricted £ 1,099 161,523 12,125 174,747 |
Unrestricted funds 2019 £ 170,260 23,095 1,248 15 194,618 7,915 174,688 182,603 12,015 12,015 12,015 102,262 114,277 Total 2020 £ 1,099 161,523 12,125 174,747 |
Total funds 2019 £ 170,260 23,095 1,248 15 |
|---|---|---|---|
| 194,618 7,915 174,688 |
|||
| 182,603 | |||
| 12,015 | |||
| 12,015 | |||
| 12,015 102,262 |
|||
| 114,277 | |||
| Total 2019 £ 1,441 168,819 - |
|||
| 170,260 |
Page 10
Little Oaks Pre-School NOTES TO THE ACCOUNTS
4 Income from charitable activities
| PP - Fees received from Parents AT - Milk Sales AT - School Uniform Sales 5 Income from other trading activities Income from fundraising events 6 Income from investments Interest receivable 7 Expenditure on charitable activities Expenditure on charitable activities PP - Fees received from Parents AT - Milk Sales AT - School Uniform Sales Student Activities, Trips & Events Governance costs |
Unrestricted £ 15,943 527 448 16,918 Unrestricted £ 3,212 368 598 1,790 5,968 |
Total 2020 £ 15,943 527 448 16,918 Total 2020 £ - - Total 2020 £ - - Total 2020 £ 3,212 368 598 1,790 5,968 |
Total 2019 £ 22,208 578 309 |
|---|---|---|---|
| 23,095 | |||
| Total 2019 £ 1,248 |
|||
| 1,248 | |||
| Total 2019 £ 15 |
|||
| 15 | |||
| Total 2019 £ 4,363 610 996 1,946 |
|||
| 7,915 |
Page 11
Little Oaks Pre-School NOTES TO THE ACCOUNTS
8 Other expenditure
| Employee costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 9 Net income before transfers This is stated after charging: Depreciation of owned fixed assets 10 Staff costs Salaries and wages Pension costs No employee received emoluments in excess of £60,000. 11 Tangible fixed assets Cost or revaluation Additions At 31 August 2020 Depreciation and impairment Depreciation charge for the year At 31 August 2020 Net book values At 31 August 2020 12 Creditors: amounts falling due within one year Trade creditors Accruals and deferred income |
Unrestricted £ 158,236 14,024 891 4,186 2,797 180,134 2020 £ 891 148,308 3,901 152,209 £ 8,090 8,090 - - 8,090 2020 £ 3,898 1,080 4,978 |
Total 2020 £ 158,236 14,024 891 4,186 2,797 180,134 £ 4,650 4,650 891 891 3,759 |
Total 2019 £ 147,979 12,091 - 11,440 3,178 |
|---|---|---|---|
| 174,688 | |||
| 2019 £ - 142,024 2,823 |
|||
| 144,847 | |||
| £ 12,740 |
|||
| 12,740 | |||
| 891 | |||
| 891 | |||
| 11,849 | |||
| 2019 £ - 1,008 |
|||
| 1,008 |
Page 12
Little Oaks Pre-School NOTES TO THE ACCOUNTS
13 Movement in funds
| At 1 September 2019 Restricted funds: Unrestricted funds: General funds 114,277 Revaluation Reserves: Total funds 114,277 14 Analysis of net assets between funds Fixed assets Net current assets 15 Commitments Operating lease commitments Annual commitments under non-cancellable operating leases 2020 Land and buildings £ Operating leases with expiry date: Pension commitments The pension cost charge to the charity amounted to: |
Incoming resources (including other gains/losses ) £ 191,665 191,665 are as follows: 2020 Other £ 2020 £ 3,901 |
Resources expended £ (186,102) (186,102) Unrestricted funds £ 11,849 107,991 119,840 2019 Land and buildings £ |
At 31 August 2020 £ 119,840 |
|---|---|---|---|
| 119,840 | |||
| Total £ 11,849 107,991 |
|||
| 119,840 | |||
| 2019 Other £ 2019 £ 2,823 |
Page 13
Little Oaks Pre-School DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 August 2020
| Income and endowments from: Donations and legacies Donations and gifts from individuals Revenue grants from government and public bodies Revenue grants for COVID-19 (JRS Grants) Charitable activities PP - Fees received from Parents AT - Milk Sales AT - School Uniform Sales Other trading activities Income from fundraising events Investments Interest receivable Total income and endowments Expenditure on: Charitable activities PP - Fees received from Parents AT - Milk Sales AT - School Uniform Sales Student Activities, Trips & Events Total of expenditure on charitable activities Employee costs Salaries/wages Pension costs Staff entertainment Staff training Staff welfare Premises costs Rent |
Unrestricted funds 2020 £ 1,099 161,523 12,125 174,747 15,943 527 448 16,918 - - - - 191,665 3,212 368 598 1,790 5,968 5,968 148,308 3,901 967 4,398 662 158,236 10,221 |
Total funds 2020 £ 1,099 161,523 12,125 174,747 15,943 527 448 16,918 - - - - 191,665 3,212 368 598 1,790 5,968 5,968 148,308 3,901 967 4,398 662 158,236 10,221 |
Total funds 2019 £ 1,441 168,819 - |
|---|---|---|---|
| 170,260 | |||
| 22,208 578 309 |
|||
| 23,095 | |||
| 1,248 | |||
| 1,248 | |||
| 15 | |||
| 15 | |||
| 194,618 4,363 610 996 1,946 |
|||
| 7,915 | |||
| 7,915 142,024 2,823 309 2,551 272 |
|||
| 147,979 | |||
| 8,925 |
Page 14
Little Oaks Pre-School DETAILED STATEMENT OF FINANCIAL ACTIVITIES
| Premises cleaning Premises repairs and maintenance Other premises costs General administrative costs, including depreciation and amortisation Depreciation of Equipment expensed General insurances Information and publications Postage and couriers Software, IT support and related costs Stationery and printing Subscriptions Sundry expenses Telephone, fax and broadband Legal and professional costs Audit/Independent examination fees Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds |
3,803 - - 14,024 891 1,224 1,071 174 22 - 836 108 460 291 5,077 1,080 1,717 2,797 180,134 186,102 - 5,563 5,563 - 5,563 |
3,803 - - 14,024 891 1,224 1,071 174 22 - 836 108 460 291 5,077 1,080 1,717 2,797 180,134 186,102 - 5,563 5,563 - 5,563 |
- 486 2,680 |
|---|---|---|---|
| 12,091 | |||
| - 7,771 1,058 72 114 163 1,330 430 - 502 |
|||
| 11,440 | |||
| 1,410 1,768 |
|||
| 3,178 | |||
| 174,688 | |||
| 182,603 - |
|||
| 12,015 | |||
| 12,015 - |
|||
| 12,015 |
Page 15