2023-07-31-accounts

CHARITY REGISTRATION NUMBER: 1035396

Crag Bank Under Fives Unaudited Financial Statements

31 July 2023

Crag Bank Under Fives

LAMONT PRIDMORE (SOUTH CUMBRIA) LTD

Chartered Accountants 61 Haws Hill Carnforth Lancashire LA5 9DD

Financial Statements

Year ended 31 July 2023

	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 2023

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 July 2023.

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 (Appointed as chair 9 May 2023) Laura Patterson (Appointed as trustee 9 May 2023) Sabrina Barnes Michelle Jackson (Resigned as chair and trustee 9 May 2023) Julie Kitching Jane Halbard Garry Halbard (Appointed as trustee 9 May 2023) Stephen Kitching (Appointed as trustee 9 May 2023) Alissia Jackson (Appointed as trustee 9 May 2023) Karen Riley 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.

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Crag Bank Under Fives

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 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 2023

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 £24,948 (2022 - £51,728).

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

The trustees' annual report was approved on 21 August 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 2023

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 2023.

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 2023

		2023		2022
		Unrestricted
		fundsTotal funds		Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	4	77,786	77,786	95,963
Charitable activities	5	495	495	711
Investment income	6	87	87	3
Other income	7	2,199	2,199	–
		────────	────────	────────
Total income		80,567	80,567	96,677
		════════	════════	════════
Expenditure
Expenditure on charitable activities		107,347	107,347	90,803
		─────────	─────────	────────
Total expenditure		107,347	107,347	90,803
		═════════	═════════	════════
		─────────	─────────	────────
Net (expenditure)/income and net movement in funds		(26,780)	(26,780)	5,874
		═════════	═════════	════════
Reconciliation of funds
Total funds brought forward		51,728	51,728	45,854
		─────────	─────────	────────
Total funds carried forward		24,948	24,948	51,728
		═════════	═════════	════════

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.

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Crag Bank Under Fives

Statement of Financial Position

31 July 2023
		2023	2022
	Note	£	£
Current assets
Cash at bank and in hand		30,281	55,277
Creditors: amounts falling due within one year	11	5,333	3,549
		────────	────────
Net current assets		24,948	51,728
		────────	────────
Total assets less current liabilities		24,948	51,728
		────────	────────
Net assets		24,948	51,728
		════════	════════
Funds of the charity
Unrestricted funds		24,948	51,728
		────────	────────
Total charity funds	12	24,948	51,728
		════════	════════

These financial statements were approved by the board of trustees and authorised for issue on 21 August 2024, and are signed on behalf of the board by:

Jane Halbard

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(continued)

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 2023

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

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

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Crag Bank Under Fives

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.

Notes to the Financial Statements

Year ended 31 July 2023

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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Crag Bank Under Fives

(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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Crag Bank Under Fives

Notes to the Financial Statements

Year ended 31 July 2023

4. Donations and legacies

				UnrestrictedTotal Funds	UnrestrictedTotal Funds	Unrestricted	Total Funds
				Funds	2023	Funds	2022
				£	£	£	£
	Donations
	Lancaster City Council fee subsidies			62,075	62,075	79,985	79,985
	Fees			15,711	15,711	15,978	15,978
				────────	────────	────────	────────
				77,786	77,786	95,963	95,963
				════════	════════	════════	════════
5.	Charitable	activities
				UnrestrictedTotal Funds		Unrestricted	Total Funds
				Funds	2023	Funds	2022
				£	£	£	£
	Fundraising activities			495	495	711	711
				════	════	════	════
6.	Investment income
				UnrestrictedTotal Funds		Unrestricted	Total Funds
				Funds	2023	Funds	2022
				£	£	£	£
	Bank interest receivable			87	87	3	3
				════	════	════	════
7.	Other income
				UnrestrictedTotal Funds		Unrestricted	Total Funds
				Funds	2023	Funds	2022
				£	£	£	£
	Insurance claim			2,199	2,199	–	–
				═══════	═══════	════	════
8.	Independent examination fees
	2023	2022	£ £
	Fees payable to		the independent examiner for:
	Independent examination of the financial			statements		960	960
						════	════

9. Staff costs

The average head count of employees during the year was 6 (2022: 6).

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No employee received employee benefits of more than £60,000 during the year (2022: Nil).

Crag Bank Under Fives

Notes to the Financial Statements

Year ended 31 July 2023

10. 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.

11. Creditors: amounts falling due within one year

2023	2022	£	£
Accruals	and deferred income			3,230	2,100
Other creditors -		staff savings		2,103	1,449
				───────	───────
				5,333	3,549
				═══════	═══════

12. Analysis of charitable funds

Unrestricted funds	At	At
			1 August 2022	Income	Expenditure31 July 2023
			£	£	£	£
General funds			51,728	80,567	(107,347)	24,948
			════════	════════	═════════	════════
			At			At
			1 August 2021	Income	Expenditure 31 July 2022
			£	£	£	£
General funds			45,854	96,677	(90,803)	51,728
			════════	════════	════════	════════

13. Analysis of net assets between funds

	Unrestricted	Total Funds
	Funds	2023
	£	£
Current assets	30,281	30,281
Creditors less than 1 year	(5,333)	(5,333)
	────────	────────
Net assets	24,948	24,948
	════════	════════
	Unrestricted	Total Funds
	Funds	2022
	£	£
Current assets	55,277	55,277

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Creditors less than 1 year (3,549) (3,549) ──────── ──────── Net assets 51,728 51,728

Crag Bank Under Fives

Management Information

Year ended 31 July 2023

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