2022-07-31-accounts

CHARITY REGISTRATION NUMBER: 1035396

Crag Bank Under Fives Unaudited Financial Statements

31 July 2022

Crag Bank Under Fives

LAMONT PRIDMORE (SOUTH CUMBRIA) LTD

Chartered Accountants

61 Haws Hill Carnforth

Lancashire

LA5 9DD

Financial Statements

Year ended 31 July 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

Crag Bank Under Fives

Trustees' Annual Report

Year ended 31 July 2022

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 July 2022.

Reference and administrative details

Registered charity name Crag Bank Under Fives Charity registration number 1035396 Principal office Crag Bank Village Hall Crag Bank Road Carnforth LA5 9EG The trustees Amy Wyatt Karen Riley Sabrina Barnes Michelle Jackson Julie Kitching Jane Halbard Independent examiner Karl Burrell FCCA Lamont Pridmore (South Cumbria) Ltd Chartered Accountants 61 Haws Hill Carnforth Lancashire LA5 9DD

Structure, governance and management

Crag Bank under fives, Crag Bank Village Hall, Crag Bank, Carnforth, LA5 9EG is registered with the Charity Commissioners no. 1035396 and constituted by the Deed of Trust. New trustees are appointed by the continuing and retiring trustees.

Objectives and activities

The object of the Charity is to provide inexpensive childcare facilities for the pre school children of Crag Bank and surrounding area. The Charity provides five sessions of pre school, four sessions of

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Crag Bank Under Fives

playgroup and one parent and toddler session per week in every school term. The Charity employs six employees on a part time basis and relies heavily on parents' voluntary help with playgroup sessions.

The Charity also organises various fund raising events during the year to aid with running costs.

Achievements and performance

The Charity has been able to provide childcare in line with its objectives during the year, mainly due to Government legislation providing three and four year old children with up to five free sessions of childcare per week.

Trustees' Annual Report (continued)

Year ended 31 July 2022

Financial review

The Charity aims to maintain sufficient free reserves to enable them to cover the running costs of the playgroup for six months should income fall. Free reserves at the year end were £51,728 (2021 - £45,854).

The Charity retains sufficient reserves to meet its liabilities but understands the need to keep increased reserves.

The trustees' annual report was approved on 05 July 2024 and signed on behalf of the board of trustees by:

Jane Halbard

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Crag Bank Under Fives

Independent Examiner's Report to the Trustees of Crag Bank Under Fives

Year ended 31 July 2022

I report to the trustees on my examination of the financial statements of Crag Bank Under Fives ('the charity') for the year ended 31 July 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:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the financial statements do not accord with those records; or

3. 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.

Karl Burrell FCCA Independent Examiner LAMONT PRIDMORE (SOUTH CUMBRIA) LTD Chartered Accountants 61 Haws Hill Carnforth Lancashire LA5 9DD

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Crag Bank Under Fives

Statement of Financial Activities

Year ended 31 July 2022

		2022		2021
		Unrestricted
		fundsTotal	funds	Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	4	95,963	95,963	82,185
Charitable activities	5	711	711	945
Investment income	6	3	3	1
		────────	────────	────────
Total income		96,677	96,677	83,131
		════════	════════	════════
Expenditure
Expenditure on charitable activities		90,803	90,803	79,548
		────────	────────	────────
Total expenditure		90,803	90,803	79,548
		════════	════════	════════
		────────	────────	────────
Net income and net movement in funds		5,874	5,874	3,583
		════════	════════	════════
Reconciliation of funds
Total funds brought forward		45,854	45,854	42,271
		────────	────────	────────
Total funds carried forward		51,728	51,728	45,854
		════════	════════	════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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Crag Bank Under Fives

The notes on pages 6 to 9 form part of these financial statements.

Statement of Financial Position

31 July 2022

31 July 2022
		2022	2021
	Note	£	£
Current assets
Cash at bank and in hand		55,277	50,764
Creditors: amounts falling due within one year	10	3,549	4,910
		────────	────────
Net current assets		51,728	45,854
		────────	────────
Total assets less current liabilities		51,728	45,854
		────────	────────
Net assets		51,728	45,854
		════════	════════
Funds of the charity
Unrestricted funds		51,728	45,854
		────────	────────
Total charity funds	11	51,728	45,854
		════════	════════

These financial statements were approved by the board of trustees and authorised for issue on 05 July 2024, and are signed on behalf of the board by:

Jane Halbard

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Crag Bank Under Fives

The notes on pages 6 to 9 form part of these financial statements.

Notes to the Financial Statements

Year ended 31 July 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 Crag Bank Village Hall, Crag Bank, Carnforth, LA5 9EG.

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.

Judgements and key sources of estimation uncertainty

• The preparation of the financial statements requires the use of estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Any estimate that has a degree of uncertainty or where judgement has been exercised in a particular area is expressly disclosed within the relevant accounting policy.

Fund accounting

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Crag Bank Under Fives

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.

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(continued)

Crag Bank Under Fives

Notes to the Financial Statements

Year ended 31 July 2022

3. Accounting policies (continued)

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:

• 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.

• legacy income is recognised when receipt is probable, and entitlement is established.

• 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.

• 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.

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:

• expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.

• 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

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(continued)

support costs and costs relating to the governance of the charity apportioned to charitable activities.

• 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.

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(continued)

Crag Bank Under Fives

Notes to the Financial Statements

Year ended 31 July 2022

4. Donations and legacies

			UnrestrictedTotal Funds	UnrestrictedTotal Funds	Unrestricted	Total Funds
			Funds	2022	Funds	2021
			£	£	£	£
Donations
Lancaster City Council fee subsidies			79,985	79,985	68,868	68,868
Fees			15,978	15,978	13,317	13,317
			────────	────────	────────	────────
			95,963	95,963	82,185	82,185
			════════	════════	════════	════════
Charitable	activities
			UnrestrictedTotal Funds		Unrestricted	Total Funds
			Funds	2022	Funds	2021
			£	£	£	£
Fundraising activities			711	711	945	945
			════	════	════	════
Investment income
			UnrestrictedTotal Funds		Unrestricted	Total Funds
			Funds	2022	Funds	2021
			£	£	£	£
Bank interest receivable			3	3	1	1
			════	════	════	════
Independent examination fees
2022	2021	£ £
Fees payable to		the independent examiner for:
Independent examination of the financial			statements		960	960
					════	════

5. Charitable activities

6. Investment income

7. Independent examination fees

10

(continued)

8. Staff costs

The average head count of employees during the year was 6 (2021: 6).

No employee received employee benefits of more than £60,000 during the year (2021: Nil).

9. Trustee remuneration and expenses

• No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

Trustees paid fees and received duty payments on the same basis as any other parent or helper.

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(continued)

Crag Bank Under Fives

Crag Bank Under Fives

Notes to the Financial Statements

Year ended 31 July 2022

10. Creditors: amounts falling due within one year

2022	2021	£	£
Accruals	and deferred income			2,100	2,910
Other creditors -		staff savings		1,449	2,000
				───────	───────
				3,549	4,910
				═══════	═══════

11. Analysis of charitable funds

Unrestricted funds	At	At
			1 August 2021	Income	Expenditure31 July 2022
			£	£	£	£
General funds			45,854	96,677	(90,803)	51,728
			════════	════════	════════	════════
			At			At
			1 August 2020	Income	Expenditure 31 July 2021
			£	£	£	£
General funds			42,271	83,131	(79,548)	45,854
			═-═══════	════════	════════	════════

12. Analysis of net assets between funds

	UnrestrictedTotal Funds	UnrestrictedTotal Funds
	Funds	2022
	£	£
Current assets	55,277	55,277
Creditors less than 1 year	(3,549)	(3,549)
	────────	────────
Net assets	51,728	51,728

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(continued)

	════════	════════
	Unrestricted	Total Funds
	Funds	2021
	£	£
Current assets	50,764	50,764
Creditors less than 1 year	(4,910)	(4,910)
	────────	────────
Net assets	45,854	45,854
	════════	════════

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