PEASLAKE SCHOOLS TRUST Registered Charity No. 1034412 clo WINTERFOLD COTTAGE wnYrERFOLD HEATH ALBURY HEATH SURREY GU5 9EL ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3151 AUGUST 2024 Index Pages 2-4 Annual Report Page 5 Independent Examiner's Report Page 6 Income & Expenditure Account Page 7 Balance Sheet Pages 8-11 Notes to the Financial Statements Pagelofll
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31" AUGUST 2024 1.0 Reference and Administrative Information Name . Peaslake Schools Trust Registered Charlty 1034412 Registered Address: Winterfold Cottage Winterfold Heath Albury H¢ath Surr¢y GU5 9EL IA Names of the Trustees Trustees of the Chari durin earto 31 Au st 2024 Chairn]an.' Secretary: Treasurer: Mark Foster Andy Clayton David Newman Trustees: James Cobb Moira Jones Jevon Birchall Samantha Pride Emily Riley Tom Southee Sarah Small Janette Welltt Sara Dangcrfield Co-o ted Trustees (sitting on the Executive Cornmittee) Sara and Janette were made Trustees in March 2021 there are no co-opted trustees, TRUSTEES ANNUAL REPORT Page2ofll
FOR THE YEAR ENDED 31st AUGUST 2024 2.0 Structure Governance and Management 2.1 Nature of the Governing Document The governing document is a constitiOn for the charity which was drawn up in 1993 when the trust originatcd. The Peaslake Schools Trust consists of a body of trustees who meet at least once each school half term. A series of subconunittees are also in operation each with specific responsibilities. The sub-committees a as follows: Finance. Audit and Operations Education Policy and cU1CulUrn Marketing, Parental and Community Liaison Perforniance Management 2.2 Recruitment and Appointment of Trustees Trustees are sought and recruited from two rnain sources, firstly the wider community within which the school operates and secondly parent trustees drawn from parents of children who are currently at the school. The constitution details that there should be a sufficient balance of external trustees and this principle is stiictly adhw¢d to. Pot¢ntial trust¢¢s ar¢ vctt¢d by the Chainnan before being approved by the Executiv¢ Committee and ratified at the next AGM. Truste¢s may operat¢ in a co-opted, non-voting forni until they are fornially adopted at an AGM. 3.0 Objectives and Activities The objectives of the charity are as follows: Providing a home for nurscry and carly-years learning in the midst of our community Support to the Peaslake Free School A secure and enjoyable transition from nursery to infant school for local children An outstanding preparation for the next stage of education A sustaining part of the life of Peaslake and the surrounding villages The main activities are as follows: Provision of nursery facilities for children over two and a half. Ownership of premises which are used for both the nursery and the Peaslake Free School. 4.0 Achievements and Performance 4.1 The main achievements for the year end 31, August 2024 is: 29th year of operation of the Trust. Peaslake Free School opened in September 2013; the main school is substantially funded by the LEA, the Trust made a £12.7k contribution to the Free School in this operating year. Thcrc are currently 18 children in the nursery. The nursery head appointed in the prior year continued to make key improvements to both the learning and faciliti¢s within thc nurscry and this h&s resulted in an increase in the numbcr of children attending thc nurscry. The nursery team are constantly revising their practice and trialling different ways to cover all arcas of learning in the Foundation Stage. Therc was an Ofsted inspection during the year and the nursey was rated as Good across all catcgorics. 7 children moved up to the Free School. Page3ofll
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31" AUGUST 2024 cont. They have thanced their continuous provision, offering the children an environment that is safe for them to explore, whilst challenging their learning and allowing them the freedom to become more independent. This was another good year for Fundraising. £23.7k was raised thanks to the support of the school parents, the local community and the tremendous efforts of the fundraising team. The push to encourage local parents to use the nursery has again continued this year with numbers increasing; having a 11 nursery is strategically important for the Free School as many nursery parents choose to send their children to the Free School. The building of the new nursery facilities which started in the summer of 2017 was completed in January 2018. The staff and clLildren are enjoying the new facilities and outdoor space. There was further investment in improving the outdoor environment in this financial year. 5.0 Financial Review Income increased by £41.6k in year to £132.Ok. The early years funding increased by £29.3k, reflecting the increased number of sessions being taken up in the nursery. It was another successful year for Fundraising, income increased by £0.5k to £24.3k. The Trust made a loss of £28.6k in year, after depreciation, £18.9k less loss than the prior year. A donation of £22.Ok was made to the Free School, £12.65k in the prior year. Nursery operational costs excluding depreciation and donations to the Free School were £14.6k higher than the prior year. If depreciation is excluded the Trust made a profit of £6.Ok in year. The Trust continues to have an extremely healthy cash balance of £141.9k with marginal change from the prior year. Mark Foster Chairman of Trustees Page4of11
INDEPENDENf EXAMINER'S REPORT TO THE TRUSTEES OF THE PEASLAKE SCHOOLS TRUST I report on the accounts of the Trust for the year ended 31 August 2024, which are set out on the following pages. Respective responsibllities of The Trustees and the Examiner As the charity trustees, you are responsible for the preparation of the accounts, you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act) does not apply. It is my responsibility to state, on the basis of the procedures specified in the General Directions given by thc Charity Commissioners under section 43(7)(b) of the Act, whether particular matters have come to my attention. Basis of Independent Exarnlller's report My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kq)t 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 I do not express an audit opinion on the view given by the accounts. Independent Examiner's Statement In connection with my examination, no matter has come to my attention: which gives me reasonable cause to believe that in any material respect the rcquirements to keep accounting records in accordance with section 41 of the Act and to prepare accounts which accord with the accounting records and to comply with the accounting rquirernents of the Act have not been met. or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the account to b¢ reach, Heidi Dickinson CIMA (Management Accountant) 7 Langley Close Church Crookham Hampshire GU52 6PX Date: II/oG/ZS Page5of11
THE PEASLAKE SCHOOLS TRUST Redstered Charity 1034412 INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31st AUGUST 2024 Income Note 2024 2023 Covenants and Pledged Donations Donations Fundraising Initiatives Foundation Stage Income Loan Fund tnterest 150 Club Bank Interest Received Miscellaneous 18,769 6,970 24,304 86,288 23,767 56,952 2,337 2,280 332 497 Total Net Income 132,036 90,470 Expendlture Salaries Sports Activities Consumables Educational spendin Trips Establishment Maintenance Other Charitable DisbUrscmtS Depreciation 85,496 72,081 1,925 2,515 9,656 376 4,022 22,000 34,658 1,381 1,822 9,190 2,276 2,647 12,650 35,940 Total Expenditure 160,648 137,987 Net Surplus l (Deficit )for the Year (28,612) (47,517) Page6of 11
PEASLAKE SCHOOLS TRUST istered Chari 1034412 BALANCE SHEET 31$t AUGUST 2024 Note 2024 2023 Fixed Assets Freehold propety Furniture and Equipment Assets in Construction (AICC) 538,264 3,891 572,245 4,568 542,155 576,813 Current Assets Debtors & prepaJTnents Cash at bank & in hand 3,562 141,856 1,165 141,604 145,418 142,769 Current Liabilities Creditors & accrued expenses (950) (4,347) (950) (4,347) Net Current Assetsl (Liabilities) 144,468 138,422 Long Term Liabilities Total Net Assets l (Llabilities) £686 623 £712 235 Represented By: Capital Reserves 454,899 483,511 Freehold Property Reserve 213,857 213,857 PPE Reserve 17,867 17.807 £686 623 £715 235 These financial statements were approved by the Trustees on Date Chairn]an of Trustees Treasurer Page7of 11
PEASLAKE SCHOOLS TRUST Re 'stered Chari 1034412 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st AUGUST 2024 ACCOUNTING POLICIES For the year ended 31" August 2024 the Trust accounts have been prepared on an aCcnl basis, as an income and expenditure account and balance sheet. Accountlng Convendon The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards. Depreciatlon Depreciation is charged on the following bases to reduce the cost of the Trust's tangible fixed assets to their net realisable values over their estimated useful lives at the following rate:_ Buildings Furniture and equipment 20 years straight line 3 years straight line Stock Stock is valued at the lower of cost and nct realisable value. Reserves The reserves are held to ensure sustainability of operation if there is a shortfall in funding over expenditure in any given year. Pag¢8ofll
PEASLAKE SCHOOLS TRUST istered Chari 1034412 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st AUGUST 2024_ CONTINUED FIXED ASSETS Freehold Furniture & Property Equipment AICC Total Cost At 1.9.23 Additions Disposals/Transfers 845,018 35.556 880.574 At 31.8.24 845,018 35,556 880,574 Depreciation At 1.9.23 Charge for year 272.773 33.981 30,988 677 303,761 34,658 At 31.8.24 306,754 31,665 338,419 Wrltten DoTrvn Value At 31.8.24 538.264 3,891 542,155 At 31.8.23 572,245 4,568 576,813 Page9ofll
PEASLAKE SCHOOLS TRUST istered Chari 1034412 NOTES TO THE FIIYANCIAL STATEMEIYTS FOR THE YEAR ENDED 311t AUGUST 2024- coNfINUED 3. FUNDRAISING INITIATIVES 2024 2023 Peaslake Fair Christmas Concert Christsnas Fair / Events Halloween Hike Open Gardens 4,816 3,486 2,561 1.216 5,331 7,821 3,289 1,997 1,000 5,334 E !! Albury Pr(Kluce Fair Everest Base Camp Easter Event Teddy Bears Picnic Quiz / Cinema Night Summer trail & Raffle Other 322 1,480 1,029 2.918 668 418 2,122 1,000 1,000 145 Net Sury)lus 24,304 23,767 4.FOUNDATION STAGE INCOME 2024 2023 SCC Grant funding (3 to 5 y¢ars) 54,088 Charges made to parents 32,200 40,141 16,811 Net Surplus £86,288 £56,952 5. LOAN FUND INTEREST The loan fund was deposited with the Charities Aid Foundation. Ownership of the capital sum remained with the benefactor, but Peaslake Schools Trust received an income from the fund equivalent to the interest earned on the moneys deposited. Benefactors were able to withdraw the capital, without penalty, at short notice. The loan fund was closed during previous financial years as the interest paid was too low to make this viable. 6. DEBTORS AND PREPAYMENTS The debtors balance is made up of £3.5k for tax back from donations. Page IOof11
PEASLAKE SCHOOLS TRUST 'stered Chari 1034412 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EIYDED 31st AUGUST 202& CONTINUED 7. CREDITORS The creditor balance represents aCenlS for fundraising and audit costs. 8. CAPITAL RESERVES 2024 2023 Balance at I st September 2023 Surplus (Deficit) for the year 483,511 (28,612) 531,028 (47,517) Balance at 31. August 2023 454,899 483,511 9. PROPERTY PLANT & EQUIPMENT RESERVE This represents the cash raised for the new windows and the boiler as thC have been partly fundcd tl]rough donations. Page Ilofll