2024-07-31-accounts

CHARITY REGISTRATION NUMBER: 1035396

Crag Bank Under Fives Unaudited Financial Statements

31 July 2024

Crag Bank Under Fives

LAMONT PRIDMORE (SOUTH CUMBRIA) LTD

Chartered Accountants 61 Haws Hill Carnforth Lancashire LA5 9DD

Financial Statements

Year ended 31 July 2024

	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 2024

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 July 2024.

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
	Laura Patterson
	Sabrina Barnes
	Julie Kitching
	Jane Halbard
	Garry Halbard
	Stephen Kitching
	Alissia Jackson
	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.

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 five employees on a full and 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 2024

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 £25,251 (2023 - £24,948).

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

The trustees' annual report was approved on 28 May 2025 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 2024

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 2024.

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

Statement of Financial Activities

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Crag Bank Under Fives

	Year ended 31 July	2024
		2024		2023
		Unrestricted
		fundsTotal	funds	Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	4	80,032	80,032	77,786
Charitable activities	5	2,139	2,139	495
Investment income	6	242	242	87
Other income	7	–	–	2,199
		────────	────────	────────
Total income		82,413	82,413	80,567
		════════	════════	════════
Expenditure
Expenditure on charitable activities		82,110	82,110	107,347
		────────	────────	─────────
Total expenditure		82,110	82,110	107,347
		════════	════════	═════════
		────────	────────	─────────
Net income/(expenditure) and net movement in funds		303	303	(26,780)
		════════	════════	═════════
Reconciliation of funds
Total funds brought forward		24,948	24,948	51,728
		────────	────────	─────────
Total funds carried forward		25,251	25,251	24,948
		════════	════════	═════════

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 11 form part of these financial statements.

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Crag Bank Under Fives

Statement of Financial Position

31 July 2024
		2024	2023
	Note	£	£
Fixed assets
Tangible fixed assets	12	3,465	–
Current assets
Cash at bank and in hand		28,611	30,281
Creditors: amounts falling due within one year	13	6,825	5,333
		────────	────────
Net current assets		21,786	24,948
		────────	────────
Total assets less current liabilities		25,251	24,948
		────────	────────
Net assets		25,251	24,948
		════════	════════
Funds of the charity
Unrestricted funds		25,251	24,948
		────────	────────
Total charity funds	14	25,251	24,948
		════════	════════

These financial statements were approved by the board of trustees and authorised for issue on 28 May 2025, and are signed on behalf of the board by:

Jane Halbard

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Crag Bank Under Fives

Notes to the Financial Statements (continued)

~~Year ended 31 July 2024~~

The notes on pages 6 to 11 form part of these financial statements.

Notes to the Financial Statements

Year ended 31 July 2024

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.

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

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Crag Bank Under Fives

Notes to the Financial Statements (continued)

~~Year ended 31 July 2024~~

• 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.

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Crag Bank Under Fives

Notes to the Financial Statements (continued)

~~Year ended 31 July 2024~~

3. Accounting policies (continued)

Tangible assets (continued)

• 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:

Fixtures and fittings

• 20% straight line

Impairment of fixed assets

• A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

• For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

• For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

4. Donations and legacies

	UnrestrictedTotal Funds	UnrestrictedTotal Funds	Unrestricted	Total Funds
	Funds	2024	Funds	2023
	£	£	£	£
Donations
Lancaster City Council fee subsidies	60,558	60,558	62,075	62,075
Fees	19,474	19,474	15,711	15,711
	────────	────────	────────	────────
	80,032	80,032	77,786	77,786
	════════	════════	════════	════════

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Crag Bank Under Fives

Notes to the Financial Statements (continued)

~~Year ended 31 July 2024~~

5. Charitable activities

Fundraising activities

Unrestricted	Total Funds	Unrestricted	Total Funds
Funds	2024	Funds	2023
£	£	£	£
2,139	2,139	495	495
═══════	═══════	════	════

6. Investment income

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2024	Funds	2023
	£	£	£	£
Bank interest receivable	242	242	87	87
	════	════	════	════

7. Other income

		UnrestrictedTotal	Funds	Unrestricted	Total Funds
		Funds	2024	Funds	2023
		£	£	£	£
Other income		–	–	2,199	2,199
		════	════	═══════	═══════
Net income/(expenditure)
Net income/(expenditure) is		stated after charging/(crediting):
2024 2023	£	£
Depreciation of tangible fixed assets				385	–
				════	════
Independent examination		fees
2024 2023	£	£
Fees payable to	the independent examiner for:
Independent examination of the financial statements				1,190	1,130
				════	════

8. Net income/(expenditure)

9. Independent examination fees

10. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 £ £ Wages and salaries 63,668 78,889 ════════ ════════

The average head count of employees during the year was 5 (2023: 6).

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

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Crag Bank Under Fives

Notes to the Financial Statements (continued)

~~Year ended 31 July 2024~~

11. 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.

12. Tangible fixed assets

Fixtures and fittings £ Cost At 1 August 2023 – Additions 3,850 ─────── At 31 July 2024 3,850 Depreciation ═══════ At 1 August 2023 – Charge for the year 385 ─────── At 31 July 2024 385 Carrying amount At 31 July 2024 3,465 ═══════ ═══════ At 31 July 2023 – ═══════ Creditors: amounts falling due within one year 2024 2023 £ £ Accruals and deferred income 4,420 3,230 Other creditors - staff savings 2,405 2,103 ─────── ─────── 6,825 5,333

13. Creditors: amounts falling due within one year

14. Analysis of charitable funds

Unrestricted funds

At 1 August 2023 Income Expenditure At 31 July 2024 £ £ £ £ General funds 24,948 82,413 (82,110) 25,251

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Crag Bank Under Fives

Notes to the Financial Statements (continued)

Year ended 31 July 2024

General funds

At 1 August 2022 £ 51,728	Income Expenditure At 31 July 2023 £ £ £ 80,567 (107,347) 24,948

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Crag Bank Under Fives

Notes to the Financial Statements (continued)

~~Year ended 31 July 2024~~

15. Analysis of net assets between funds

	Unrestricted	Total Funds
	Funds	2024
	£	£
Tangible fixed assets	3,465	3,465
Current assets	28,611	28,611
Creditors less than 1 year	(6,825)	(6,825)
	────────	────────
Net assets	25,251	25,251
	════════	════════
	Unrestricted	Total Funds
	Funds	2023
	£	£
Tangible fixed assets	–	–
Current assets	30,281	30,281
Creditors less than 1 year	(5,333)	(5,333)
	────────	────────
Net assets	24,948	24,948
	════════	════════

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