Little Nippers Pre-school
Charity No. 1036702
Trustees' Report and Unaudited Accounts
31 August 2020
Little Nippers Pre-school Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Statement of Cash flows | 7 |
| Notes to the Accounts | 8 to 14 |
| Detailed Statement of Financial Activities | 15 to 16 |
Page 1
Little Nippers Pre-school Trustees Annual Report
Little Nippers Pre-school
The Trustees present their report with the unaudited financial statements of the charity for the year ended 31 August 2020.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1036702
Principal Office
C/O Python Hill Academy Kirklington Road Rainworth Nottinghamshire NG21 0JZ
Trustees
The following Trustees served during the year:
W. Goodman B.J. Harris W. Moakes
Accountants
Brealey and Newbury Accountants 8 High Street Mansfield Woodhouse Mansfield Nottinghamshire NG19 8AN
Bankers
Santander Bridle Road Bootle L304GB
OBJECTIVES AND ACTIVITIES
The main aim of the charity is to enhance the development and education of children under statutory school age. Overall management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution. Day to day project activity is managed by paid staff.
Page 2
Little Nippers Pre-school Trustees Annual Report
ACHIEVEMENTS AND PERFORMANCE
Little Nippers Preschool serves the local area and welcomes children between the ages of 2 and 5 years, until they enter full time education. Our aim is for all children in our environment to feel safe and valued, with our objectives being that children should develop independence, social skills and knowledge through play. Little Nippers Pre-School provides a stimulating place for children to learn and expand their experiences between home and school. Activities are varied and imaginative, encouraging children to learn at their own pace. Pre-School sessions typically include circle time, outdoor play, including our mud kitchen, (weather permitting), story time, song time and snack, as well as free play. Little Nippers Preschool offers childcare between 8.45am and 3.15pm Monday to Friday, during school term times, with a breakfast club offered between 8am and 8.45. A holiday club is offered and run during school holidays, if numbers make it viable to take place. The Pre-School is run by a voluntary Management Committee who ensures that Pre-School stays rooted in our community and reflects the needs of the children.
FINANCIAL REVIEW
The accounts for the period 01-09-2019 to 31-08-2020 were presented and compared with the previous year. It was agreed that although a loss was made this was mainly due to the Coronavirus pandemic which resulted in the setting being closed from April-June 2020. During the closure staff continued to work remotely with parents and carers to ensure that targets were met and the most vulnerable children were in daily contact with a key worker. Toys and food were distributed daily to the most vulnerable families. Staff were not furloughed during this time, this was made possible by the continued government funding for three and four year old children. Current staffing levels were maintained in order to continue to deliver a high level of support to all children and in addition a part time administrator was appointed to assist with the day to day office duties. Finances will continue to be reviewed at every committee meeting with particular consideration given to staffing levels.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is operated under the rules of its constitution adopted 30th September 1985, amended 12th June 2006 and 24th June 2010.
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
W. Moakes Trustee 31 August 2020
Page 3
Little Nippers Pre-school Independent Examiners Report
Independent Examiner's Report to the trustees of Little Nippers Pre-school
I report to the trustees on my examination of the accounts of Little Nippers Pre-school for the year ended 31 August 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the charity's accounts 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 can 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:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts did 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.
Andrew Brealey M.A.A.T. Brealey and Newbury Accountants 8 High Street Mansfield Woodhouse Mansfield Nottinghamshire NG19 8AN 31 August 2020
Page 4
Little Nippers Pre-school Statement of Financial Activities for the year ended 31 August 2020
| Notes Income and endowments from: Donations and legacies 3 Charitable activities 4 Total Expenditure on: Raising funds 5 Other 6 Total Net gains on investments Net expenditure 7 Transfers between funds Net expenditure before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricte d funds 2020 £ 1,532 120,405 |
Total funds 2020 £ 1,532 120,405 |
Total funds 2019 £ 2,537 147,986 |
|---|---|---|---|
| 121,937 1,381 121,791 |
121,937 1,381 121,791 |
150,523 1,806 154,764 |
|
| 123,172 - |
123,172 - |
156,570 - |
|
| (1,235) - |
(1,235) - |
(6,047) - |
|
| (1,235) | (1,235) | (6,047) | |
| (1,235) 40,621 |
(1,235) 40,621 |
(6,047) 46,668 |
|
| 39,386 | 39,386 | 40,621 |
Page 5
Little Nippers Pre-school Balance Sheet
at 31 August 2020
| Charity No. 1036702 Fixed assets Tangible assets 9 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 10 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 11 Unrestricted funds 11 General funds Reserves 11 Total funds |
2020 £ 4,938 4,938 35,120 35,120 (672) 34,448 39,386 39,386 39,386 39,386 39,386 39,386 |
2019 £ 3,330 |
|---|---|---|
| 3,330 37,951 |
||
| 37,951 (660) |
||
| 37,291 40,621 |
||
| 40,621 | ||
| 40,621 | ||
| 40,621 | ||
| 40,621 | ||
| 40,621 |
Approved by the trustees on 31 August 2020
And signed on their behalf by:
W. Moakes Trustee 31 August 2020
Page 6
Little Nippers Pre-school Statement of Cash flows for the year ended 31 August 2020
| Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Increase in trade and other payables Net cash used in operating activities Cash flows from investing activities Payments for property, plant and equipment Net cash used in investing activities Net cash from financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2020 £ (1,235) 1,084 12 (139) (2,692) (2,692) - (2,831) 37,951 35,120 |
2019 £ (6,047) 731 420 |
|---|---|---|
| (4,896) (4,061) |
||
| (4,061) | ||
| - | ||
| (8,957) | ||
| 46,908 | ||
| 37,951 | ||
| Components of cash and cash equivalents | ||
| Cash and bank balances | 35,120 | 37,951 |
| 35,120 | 37,951 |
Page 7
Little Nippers Pre-school Notes to the Accounts
for the year ended 31 August 2020
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 8
Little Nippers Pre-school Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Equipment 18%% Reducing Balance
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Intangible fixed assets and amortisation
Intangible fixed assets (including purchased goodwill, patents and trademarks) are carried at cost less accumulated amortisation and impairment losses.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 9
Little Nippers Pre-school Notes to the Accounts
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Page 10
Little Nippers Pre-school Notes to the Accounts
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
2 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Charitable activities Total Expenditure on: Raising funds Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Donations |
Unrestricted £ 1,532 1,532 |
Unrestricted funds 2019 £ 2,537 147,986 150,523 1,806 154,764 156,570 (6,047) (6,047) (6,047) 46,668 40,621 Total 2020 £ 1,532 1,532 |
Total funds 2019 £ 2,537 147,986 |
|---|---|---|---|
| 150,523 1,806 154,764 |
|||
| 156,570 | |||
| (6,047) | |||
| (6,047) | |||
| (6,047) 46,668 |
|||
| 40,621 | |||
| Total 2019 £ 2,537 |
|||
| 2,537 |
Page 11
Little Nippers Pre-school Notes to the Accounts
4 Income from charitable activities
| Notts County Council/Government Funding/Special Needs Parents Fees Unifrom Sales Holiday Club 5 Expenditure on raising funds Fundraising trading costs 6 Other expenditure Employee costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 7 Net expenditure before transfers This is stated after charging: Depreciation of owned fixed assets 8 Staff costs Salaries and wages |
Unrestricted £ 113,405 6,429 425 146 120,405 Unrestricted £ 1,381 1,381 Unrestricted £ 109,355 5,534 1,084 5,146 672 121,791 2020 £ 1,084 108,084 108,084 |
Total 2020 £ 113,405 6,429 425 146 120,405 Total 2020 £ 1,381 1,381 Total 2020 £ 109,355 5,534 1,084 5,146 672 121,791 |
Total 2019 £ 135,945 7,943 963 3,135 |
|---|---|---|---|
| 147,986 | |||
| Total 2019 £ 1,806 |
|||
| 1,806 | |||
| Total 2019 £ 136,985 7,928 731 8,460 660 |
|||
| 154,764 | |||
| 2019 £ 731 134,496 |
|||
| 134,496 |
No employee received emoluments in excess of £60,000.
Page 12
Little Nippers Pre-school Notes to the Accounts
- 9 Tangible fixed assets
| 9 Tangible fixed assets |
||||
|---|---|---|---|---|
| Cost or revaluation At 1 September 2019 Additions At 31 August 2020 Depreciation and impairment At 1 September 2019 Depreciation charge for the year At 31 August 2020 Net book values At 31 August 2020 At 31 August 2019 10 Creditors: amounts falling due within one year Accruals and deferred income 11 Movement in funds Restricted funds: Unrestricted funds: General funds Revaluation Reserves: Total funds 12 Analysis of net assets between funds Fixed assets Net current assets |
At 1 September 2019 40,621 40,621 |
Equipment | £ 4,061 2,692 6,753 731 1,084 1,815 4,938 3,330 Resources expended £ (123,172) (123,172) Unrestricted funds £ 4,938 34,448 39,386 |
Total £ 4,061 2,692 |
| £ - - - - - - - - 2020 £ 672 672 Incoming resources (including other gains/losses ) £ 121,937 121,937 |
||||
| 6,753 | ||||
| 731 1,084 |
||||
| 1,815 | ||||
| 4,938 | ||||
| 3,330 | ||||
| 2019 £ 660 |
||||
| 660 | ||||
| At 31 August 2020 £ 39,386 |
||||
| 39,386 | ||||
| Total £ 4,938 34,448 |
||||
| 39,386 |
Page 13
Little Nippers Pre-school Notes to the Accounts
13 Reconciliation of net debt
| Reconciliation of net debt | ||||
|---|---|---|---|---|
| Cash and cash equivalents Net debt |
At 1 September 2019 £ |
Cash flows £ |
New HP/Finance leases £ |
At 31 August 2020 £ |
| 37,951 | (2,831) | 35,120 | ||
| 37,951 37,951 |
(2,831) (2,831) |
- - |
35,120 | |
| 35,120 |
Page 14
Little Nippers Pre-school Detailed Statement of Financial Activities
for the year ended 31 August 2020
| Income and endowments from: Donations and legacies Donations Charitable activities Notts County Council/Government Funding/Special Needs Parents Fees Unifrom Sales Holiday Club Total income and endowments Expenditure on: Costs of other trading activities Total of expenditure on raising funds Employee costs Salaries/wages Staff training Staff welfare Premises costs Rent Premises cleaning Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of Equipment Depreciation of Equipment repairs and maintenance General insurances Stationery and printing Sundry expenses |
Unrestricted funds 2020 £ 1,532 1,532 113,405 6,429 425 146 120,405 121,937 1,381 1,381 1,381 108,084 355 916 109,355 5,504 30 - 5,534 - 1,084 1,837 - 1,870 1,061 |
Total funds 2020 £ 1,532 1,532 113,405 6,429 425 146 120,405 121,937 1,381 1,381 1,381 108,084 355 916 109,355 5,504 30 - 5,534 - 1,084 1,837 - 1,870 1,061 |
Total funds 2019 £ 2,537 |
|---|---|---|---|
| 2,537 | |||
| 135,945 7,943 963 3,135 |
|||
| 147,986 | |||
| 150,523 1,806 |
|||
| 1,806 | |||
| 1,806 134,496 1,066 1,423 |
|||
| 136,985 | |||
| 6,318 897 713 |
|||
| 7,928 | |||
| - 731 3,845 760 1,569 1,995 |
Page 15
Little Nippers Pre-school Detailed Statement of Financial Activities
| Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
40,621 39,386 |
- - |
378 6,230 672 672 121,791 123,172 - (1,235) (1,235) - (1,235) - - |
378 6,230 672 672 121,791 123,172 - (1,235) (1,235) - (1,235) 40,621 39,386 |
291 |
|---|---|---|---|---|---|
| 9,191 | |||||
| 660 | |||||
| 660 | |||||
| 154,764 | |||||
| 156,570 - |
|||||
| (6,047) | |||||
| (6,047) - |
|||||
| (6,047) | |||||
| 46,668 | |||||
| 40,621 |
Page 16