CHARITY REGISTRATION NUMBER: 1034833
BARBICAN PRE-SCHOOL
UNAUDITED FINANCIAL STATEMENTS
31 MARCH 2022
METHERELL GARD
Chartered Certified Accountants Morval Looe Cornwall PL13 1PN
BARBICAN PRE-SCHOOL
FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022
| PAGE | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 15 |
| Notes to the detailed statement of financial activities | 16 |
BARBICAN PRE-SCHOOL
TRUSTEES' ANNUAL REPORT
YEAR ENDED 31 MARCH 2022
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name Barbican Pre-School Charity registration number 1034833 Principal office Trewint Crescent Barbican Looe PL13 1ET
THE TRUSTEES
Mrs B Reynolds B Crabb J Reynolds L Roberts
COMPANY SECRETARY Bryony Crabb INDEPENDENT EXAMINER Ashley Smith FCCA Morval Looe Cornwall PL13 1PN
STRUCTURE, GOVERNANCE AND MANAGEMENT
The pre school is run by a committee of parents and associate trustees are elected from these people.
OBJECTIVES AND ACTIVITIES
Objectives
To provide a safe and exciting learning environment for the children of Looe and its local area.
To work with parents, carers, local authority and the local community to continue to enhance the educational provision for children under school age and provide a transition to school.
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BARBICAN PRE-SCHOOL
TRUSTEES' ANNUAL REPORT (continued)
YEAR ENDED 31 MARCH 2022
OBJECTIVES AND ACTIVITIES (continued)
Activities
Provide child care services to parents and carers of those children under school age.
ACHIEVEMENTS AND PERFORMANCE
The main achievement of the charity is to provide a safe, happy learning environment for each child. To provide them with a supportive environment in which they can thrive.
Provision is made to be inclusive of all learning needs with emphasis on the growth and development of each child.
BPS has it's place in the heart of the community of Looe. The impact of the pandemic has continued to hit families both financially and mentally. BPS has strived to continue providing a service to local families and give the young children and their families in it's care a safe, supportive and structured place to thrive.
It has provided a place for parents to come and feel supported in a confidential environment.
We have further enhanced the outdoor learning area, thus giving access to the children's area for play and structured learning zones. These learning zones are used to enhance the children's knowledge of the environment and the impact of their lives both in the local community and on a global scale.
FINANCIAL REVIEW
We have finished the financial year in a good position. It has been a massively stressful time due to the uncertainty created by Covid-19. The financial support the government provided in terms of the furlough scheme and the usual government grant income has meant that we have still been able to run an effective business and not accumulate any debt. We have been able to ensure adequate money in the reserve fund has remained in place.
£10,500 is held in reserve in case of any issues. This would cover running costs and redundancies over a 3 month period.
The trustees' annual report was approved on 12 January 2023 and signed on behalf of the board of trustees by:
Mrs B Reynolds Trustee
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BARBICAN PRE-SCHOOL
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BARBICAN PRESCHOOL
YEAR ENDED 31 MARCH 2022
I report to the trustees on my examination of the financial statements of Barbican Pre-School ('the charity') for the year ended 31 March 2022.
RESPONSIBILITIES AND BASIS OF REPORT
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements 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 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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do 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.
Ashley Smith FCCA Independent Examiner
Morval Looe Cornwall PL13 1PN
12 January 2023
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BARBICAN PRE-SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 MARCH 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| funds Total funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 77,620 | 77,620 | 74,903 |
| Other trading activities | 5 | (20) | (20) | 20 |
| Investment income | 6 | 1 | 1 | 5 |
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| Total income | 77,601 | 77,601 | 74,928 | |
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| Expenditure | ||||
| Expenditure on charitable activities | 7,8 | 78,429 | 78,429 | 68,044 |
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| Total expenditure | 78,429 | 78,429 | 68,044 | |
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| Net (expenditure)/income and net movement in | ||||
| funds | (828) | (828) | 6,884 | |
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| Reconciliation of funds | ||||
| Total funds brought forward | 35,939 | 35,939 | 29,055 | |
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| Total funds carried forward | 35,111 |
35,111 |
35,939 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 13 form part of these financial statements.
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BARBICAN PRE-SCHOOL
STATEMENT OF FINANCIAL POSITION
31 MARCH 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| FIXED ASSETS | ||||
| Tangible fixed assets | 13 | 1,562 | 1,735 | |
| CURRENT ASSETS | ||||
| Debtors | 14 | 597 | – | |
| Cash at bank and in hand | 33,536 | 35,418 | ||
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| 34,133 | 35,418 | |||
| CREDITORS: Amounts falling due within | ||||
| one year | 15 | 584 | 1,214 | |
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| NET CURRENT ASSETS | 33,549 | 34,204 | ||
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| TOTAL ASSETS LESS CURRENT | ||||
| LIABILITIES | 35,111 | 35,939 | ||
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| NET ASSETS | 35,111 | 35,939 | ||
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| FUNDS OF THE CHARITY | ||||
| Unrestricted funds | 35,111 | 35,939 | ||
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| Total charity funds | 18 | 35,111 |
35,939 |
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Mrs B Reynolds Trustee
The notes on pages 6 to 13 form part of these financial statements.
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BARBICAN PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
1. GENERAL INFORMATION
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Trewint Crescent, Barbican, East Looe, Cornwall, PL13 1ET.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. ACCOUNTING POLICIES
BASIS OF PREPARATION
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
GOING CONCERN
There are no material uncertainties about the charity’s ability to continue.
DISCLOSURE EXEMPTIONS
The entity satisfies the criteria of not being a larger charity as defined in FRS 102 Charities SORP. As such, advantage has been taken of the exemption of preparing a cash flow statement.
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BARBICAN PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2022
3. ACCOUNTING POLICIES (continued)
FUND ACCOUNTING
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
INCOMING RESOURCES
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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BARBICAN PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2022
3. ACCOUNTING POLICIES (continued)
RESOURCES EXPENDED
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
TANGIBLE ASSETS
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
DEPRECIATION
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment - 10% reducing balance
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BARBICAN PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2022
3. ACCOUNTING POLICIES (continued)
GOVERNMENT GRANTS
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
DEFINED CONTRIBUTION PLANS
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. DONATIONS AND LEGACIES
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| DONATIONS | ||||
| Parents Fees | 5,031 | 5,031 | 7,018 | 7,018 |
| Donations | – | – | 1,212 | 1,212 |
| GRANTS | ||||
| Government grant income | 72,589 | 72,589 | 66,673 | 66,673 |
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77,620 |
77,620 |
74,903 |
74,903 |
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BARBICAN PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2022
5. OTHER TRADING ACTIVITIES
| Unrestricted | Total Funds | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |||
| £ | £ | £ | £ | |||
| Fundraising events | (20) | (20) | 20 | 20 | ||
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| 6. | INVESTMENT INCOME | |||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||
| Funds | 2022 | Funds | 2021 | |||
| £ | £ | £ | £ | |||
| Bank interest receivable type 1 | 1 | 1 | 5 | 5 | ||
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| 7. | EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE | |||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||
| Funds | 2022 | Funds | 2021 | |||
| £ | £ | £ | £ | |||
| Pre-School | 78,429 | 78,429 | 68,044 | 68,044 | ||
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| 8. | EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE | |||||
| Activities | ||||||
| undertaken | Total funds | Total fund | ||||
| directly | 2022 | 2021 | ||||
| £ | £ | £ | ||||
| Pre-School | 78,429 | 78,429 | 68,044 | |||
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| 9. | NET (EXPENDITURE)/INCOME | |||||
| Net (expenditure)/income is stated after charging/(crediting): | ||||||
| 2022 | 2021 | |||||
| £ | £ | |||||
| Depreciation of tangible fixed assets | 173 | 193 | ||||
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| **10. ** | INDEPENDENT EXAMINATION FEES | |||||
| 2022 | 2021 | |||||
| £ | £ | |||||
| Fees payable to the independent examiner for: | ||||||
| Independent examination of the financial statements | – |
300 |
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BARBICAN PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2022
11. STAFF COSTS
The total staff costs and employee benefits for the reporting period are analysed as follows:
| follows: | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Wages and salaries | 66,894 | 60,220 |
| Employer contributions to pension plans | 2,521 | 2,807 |
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| 69,415 | 63,027 | |
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The average head count of employees during the year was Nil (2021: 8).
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
12. TRUSTEE REMUNERATION AND EXPENSES
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
13. TANGIBLE FIXED ASSETS
| **13. ** | TANGIBLE FIXED ASSETS | ||
|---|---|---|---|
| Equipment | |||
| £ | |||
| Cost | |||
| At 1 April 2021 and 31 March 2022 | 1,928 | ||
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| Depreciation | |||
| At 1 April 2021 | 193 | ||
| Charge for the year | 173 | ||
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| At 31 March 2022 | 366 | ||
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| Carrying amount | |||
| At 31 March 2022 | 1,562 | ||
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| At 31 March 2021 | 1,735 | ||
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| **14. ** | DEBTORS | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Prepayments and accrued income | 597 | – | |
|
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BARBICAN PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2022
15. CREDITORS: Amounts falling due within one year
Accruals and deferred income
| 2022 | 2021 |
|---|---|
| £ | £ |
584 |
1,214 |
16. PENSIONS AND OTHER POST RETIREMENT BENEFITS
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,521 (2021: £2,807).
17. GOVERNMENT GRANTS
The amounts recognised in the financial statements for government grants are as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Recognised in income from donations and legacies: | ||
| Government grants income | 72,589 | 66,673 |
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18. ANALYSIS OF CHARITABLE FUNDS
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| At | 31 March 2 | ||||
| 1 | April 2021 | Income | Expenditure | 022 | |
| £ | £ | £ | £ | ||
| General funds | 35,939 | 77,601 | (78,429) | 35,111 | |
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| At | |||||
| At | 31 March 20 | ||||
| 1 | April 2020 | Income | Expenditure | 21 | |
| £ | £ | £ | £ | ||
| General funds | 29,055 |
74,928 |
(68,044) |
35,939 |
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BARBICAN PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2022
19. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted | Total Funds | Total Funds | |
|---|---|---|---|
| Funds | 2022 | ||
| £ | £ | ||
| Tangible fixed assets | – | – | |
| Current assets | – | – | |
| Creditors less than 1 year | – | – | |
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| Net assets | – | – | |
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| Unrestricted | Total Funds | ||
| Funds | 2021 | ||
| £ | £ | ||
| Tangible fixed assets | 1,736 | 1,736 | |
| Current assets | 35,417 | 35,417 | |
| Creditors less than 1 year | (1,214) | (1,214) | |
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| Net assets | 35,939 | 35,939 | |
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BARBICAN PRE-SCHOOL
MANAGEMENT INFORMATION
YEAR ENDED 31 MARCH 2022
The following pages do not form part of the financial statements.
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BARBICAN PRE-SCHOOL
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 MARCH 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Parents Fees | 5,031 | 7,018 |
| Donations | – | 1,212 |
| Government grant income | 72,589 | 66,673 |
|
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| 77,620 | 74,903 | |
|
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| Other trading activities | ||
| Fundraising events | (20) | 20 |
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| Investment income | ||
| Bank interest receivable type 1 | 1 | 5 |
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| Total income | 77,601 | 74,928 |
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| Expenditure | ||
| Expenditure on charitable activities | ||
| Purchases | 3,330 | 1,893 |
| Wages and salaries | 66,894 | 60,220 |
| Pension costs | 2,521 | 2,807 |
| Rates and water | 124 | – |
| Light and heat | 760 | 690 |
| Repairs and maintenance | 866 | 87 |
| Insurance | 588 | 500 |
| Other establishment | 56 | 42 |
| Legal and professional fees | 639 | 300 |
| Telephone | 1,238 | 919 |
| Other office costs | 211 | 180 |
| Depreciation | 174 | 193 |
| Sundries | 1,028 | 213 |
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| 78,429 | 68,044 | |
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| Total expenditure | 78,429 | 68,044 |
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| Net (expenditure)/income | (828) |
6,884 |
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BARBICAN PRE-SCHOOL
NOTES TO THE DETAILED STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 MARCH 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Expenditure on charitable activities | ||
| Pre-School | ||
| Activities undertaken directly | ||
| Direct charitable activity 1 - purchases | 3,330 | 1,893 |
| Direct charitable activity 1 - wages/salaries | 66,894 | 60,220 |
| Direct charitable activity 1 - pension costs | 2,521 | 2,807 |
| Direct charitable activity 1 - rates & water | 124 | – |
| Direct charitable activity 1 - light & heat | 760 | 690 |
| Direct charitable activity 1 - repairs & maintenance | 866 | 87 |
| Direct charitable activity 1 - insurance | 588 | 500 |
| Direct charitable activity 1 - other establishment | 56 | 42 |
| Direct charitable activity 1 - legal and professional fees | 639 | 300 |
| Direct charitable activity 1 - telephone | 1,238 | 919 |
| Direct charitable activity 1 - other office costs | 211 | 180 |
| Direct charitable activity 1 - depreciation | 174 | 193 |
| Direct charitable activity 1 - sundries | 1,028 | 213 |
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| 78,429 | 68,044 | |
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| Expenditure on charitable activities | 78,429 | 68,044 |
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