2021-08-31-accounts - Arden Grove Pre-School

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

ARDEN GROVE PRESCHOOL

REPORT OF THE COMMITTEE FOR THE YEAR ENDED 31 AUGUST 2021

The committee presents its report and audited financial statements for the year ended 31 August 2021

Reference and Administrative Information

Charity Name: Arden Grove Preschool Charity registration number: 1037079 Operational address: Cottinghams Drive Hellesdon Norwich Norfolk NR6 6QA

Trustees (Committee)

Helen Robinson Chairperson Sarah Mullen Secretary Emily Ames Treasurer

Caroline Harmer Claire Willingham Gemma Baxter Gemma Blanch Stacey Halford

Supervisor of Pre School

E Stevens

Bankers

Natwest

Independent Examiner

L Douglass 96 Drayton Wood Road Norwich NR6 5BZ

Structure, Governance and Management

Governing Document

Arden Grove Preschool was established in January 1994 at Arden Grove Infant School and was registered as a charity on 28[th] April 1994 and is governed by a constitution adopted on the 15[th] Day of May 2008

Recruitment and Appointment of Committee Members

At least 60% of the committee, including co-opted members, must be parents or guardians of children in the Preschool. In the event that 60% cannot be achieved, then affiliate members may be elected. The committee members are elected for a period of one year at the annual general meeting. Retiring committee members are eligible for re-election unless they have already served as a committee member for 10 consecutive years.

The committee members were all elected at the AGM in Autumn Term 2020.

Committee Members Induction and Training

New committee members are encouraged to read the charity’s constitution, the last financial statements of the charity and the Charity Commission guidance, CC3, ‘The Essential Trustee’.

Risk Management

The committee have reviewed and identified the risks that the Pre School faces and have systems to monitor and control these risks to mitigate any impact they may have on the Preschool in the future. These systems are reviewed on a regular basis.

Organisational Structure

The charity has a committee consisting of Chair, Secretary and Treasurer and not less than 4 nor more than 9 elected members. If the committee so decides, it may have not more than 3 members co-opted by the committee. At least two-thirds of the committee members shall at the time of election be parents or guardians of children in the Pre School. The committee meets half termly and the day to day running of the Pre School rests with the Pre School Supervisor, as assisted by 5 members of staff.

Objectives and Activities

The charity’s objects are to enhance the development and education of children below compulsory school age by providing safe and satisfying play, in which the parents have the right to take part and encouraging other charitable activities through which parents may help the children.

Achievements and Performance

We continue to be a thriving Pre School, full and with a healthy waiting list. Staff continue to undertake vocational training in Early Years and also in their areas of responsibility. We are linking more with Arden Grove Infant and Nursery School’s Foundation Stage team to further improve the outside environment for all children. We continue to work with outside agencies to support our children’s well-being and individual needs. We have a strong management committee and are well resourced. Our fundraising efforts have suffered considerably due to the Covid pandemic but we remain financially stable only because of the continued payment of fees from Local government. We will continue to push for fundraising opportunities to facilitate an outside canopy area so that we can provide a protected free play area for our children to use in all weathers.

Public Benefit

The Pre School is open to all children, without any catchment area, nationality, religious or other restriction, from when they are two years and three months old until they are able to enter infant school. Early Years funding is available for all children from the term following their third birthday. 2 year old funded place are available to those families meeting the criteria.

Financial Review

There was a net increase in general funds of £4704.36 thanks to tight control on staff levels and strong oversight from the trustees.

There was a increase in the designated fundraising fund of £553.93.

Reserves Policy

It is the policy of the committee to maintain general funds at a level that equates to three months resources expended, a figure of approximately £12,600. This provides sufficient funds to cover salaries and other costs incurred in the event of a temporary reduction in fee or other income.

Free reserves in the general fund at the year end amounted to £26,431.15

Designated funds resulting from parental fundraising amounting to £4386.81 are held in the fundraising fund to provide new equipment during each school year.

Plans for the Future

This year has been extremely challenging due to the global pandemic. We have concentrated on providing a valuable service to keyworkers and keeping afloat financially. Without continued government funding the preschool would not have survived.

We returned to full capacity in September and we continue to keep our environment safe but nurturing for our children. We look forward to returning to a normal world so that we can continue to improve our services for the children and families of Arden Grove.

Approved by the Committee on and signed on its behalf by:

Miss Helen Robinson

Chair of Committee.

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF ARDEN GROVE PRESCHOOL

YEAR ENDED 31 AUGUST 2021

I report on the accounts of Arden Grove Pre-School for the year ended 31 August 2021

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to

examine the accounts under section 145 of the 2011 Act;
follow the procedures laid down in the general Directions given by the Charity Commission.
state whether particular matters have come to my attention

Basis of independent examiner’s report

My examination was carried out in accordance with general Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘’true and fair view’’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination no matter has come to my attention:

(1) Which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with Section 130 of the 2011 Act; and
To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act

Have not been met; or

(2) to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Lacey Douglass 96 Drayton Wood Road Hellesdon Norwich NR6 5BZ

9[th] September 2021

Financial Report for Year to 31[st] August 2021

A strong year for the pre-school despite the ongoing pandemic. Fee’s increased to £21,404 up from £13,291 in 2020. Funding decreased slightly to £30,746 from £33,678 in 2020 but this is expected with the higher fee income.

An increase to the base rate of funding from April 2021 to £3.98 per 3 and 4 year old children helped to absorb the wage increases. 2 year funding hourly rate also increased to £5.34 from April 2021.

The preschool had a surplus of £4,704.36 as at 31.08.21 (surplus of £4620.48 in 2020). This has been a consistent rate of surplus for four years and demonstrates the strong running of the pre-school from the staff team and the committee.

The current account holds £2,164.62 to meet the day to day running costs of the pre-school.

The reserve account holds £26,431.15. The pre-school should hold enough reserves to cover at least 3 months expenditure (£12,600) and the amount held in the reserve account is more than sufficient for this purpose should the preschool encounter financial difficulties in the future.

The fundraising total was £1425.90, an increase of £553.93 on the previous year. The fundraising account holds £4,386.81 at the end of the financial year.

Pension contributions were not recorded this year and eligible staff have opted out.

With staff costs being the largest expenditure and the legal requirements of ratio’s of staff to children, the committee need to be aware that the sustainable future of the pre-school is still finely balanced.

The petty cash balance was £0.00 at year end as staff now buy supplies and BACS payments are made to ensure an audit trail.

An external bookkeeping service was retained by the committee for payroll, monthly accounts, budgets and year end accounts. While this is a cost to the pre-school, the benefits for the committee have been wide ranging.

Lacey Douglass

Bookkeeper

9[th] September 2021