CHARITY REGISTRATION NUMBER: 1037488 Flamstead Pre School Unaudited Financial Statements 31 July 2024
Flamstead Pre School Financial Statements Year ended 31 July 2024 Page Trustees, annual report Independent examinerfs report to the trustee ststement of financial attivities Statement of financial position Notes to the financial statements
Flamstead Pre School Trustees. Annual Report Year ended 31 July 2024 The trustees present their report and the unaudited financial statements of the charity for for the year ended 31 July 2024. Reference and administntive detalls Registered charlty name Ramstead Prtrschool Charfty reglstration number 1037489 Prlncipal offlce Willage Hall Church Road Hamstead St Albans AL3 88N Hertfordshire The Trustees Sushmita Dutta Nigel Tully MBE Rebecca Gisbome Jennifer Evans Nikki Hawe5 (appointed 01 March 2024) Independent examiner Vladlmlra Cosier FCCA, Bsc Strurturel governance and management The Trustees and the committee members are responslble for setting poliaes, managing and engaging staff, fundraising and organising social events. The staff are responsible for runnlng the day-to-day operations of the Pre-school. Trustee Recrultment The trustees comprise at least 60% parents or grandparents of thildn attending the Pre-school (Family Members), and up to 40% co-opted residents of Harnstead Village (Affiliate Members). New Trustees are given instructions on their duties and responsibilities. Objertlves and actlvlties The Charity is govemed by a constitutlon adopted on I September 2022. based on the Early Years Alliance Model Pre-school Constitution 2011. The chaty,$ objectives are to enhance the development and education of thTldren under statutory school age by encouraging parents to understand and provide for the needs of their chlldren through community groups. The trustees have given due regard to the guidance on public benefit published by the Charity Commission and endeavour to make its facilities available to all children, some of whom re1ve funding. Page 1
Flamstead Pre School Tntstees. Annual Report Year ended 31 Juty 2024 a 10 of I to 4 for a9e 3 aThJ a ol I to 8 f(Y over age 3. 2023 was É6.234. rth the help of the Parish c(n(i1 aNI the Vdlage Hall Tnistees. all posgble options for examined and a way forward has been i(kntified. Based on this, the Trustees plan to implement a much more Ilexil* polKy frnm Cktober ernpowering the staff to talk individual (4Yws to parents that the'r chArfs needs more weasely: this
Flamstead Pre School Independent Examinerfs Report to the Trustees of Flamstead Pre School Year ended 31 July 2024 I report to the trustees on my examination of the finanaal statements of Flamstead Pre School (the charlty,) for the year ended 31 July 2024. Responslbllltles 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 Charitles Art 2011 (the Act). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Art 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 examIne$ statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the exarnination giving me cause to believe that in any material respert: l. accounting records were not kept in respect of the charity as requlred by sertion 130 of the 2011 Art: or 2. the financial ststements do not accord with those records: or 3. the financial statements do not comply with the applicable requirnents concemlng the fomi 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 fai view which is not a matter considered as part of an indeperKlent examination. I have no concerns and have come across no other matters in connection with the examtnation to which attention should be drawn in this POrt in order to enable a proper understanding of the accounts to be reached. Vladirnira Cosier Independent Examiner 13 Dammersey aose Markyate st Albans Hertfordshire AL3 8JS Date: Page 3
Flamstead Pre School Statement of Flnancial Activities Year ended 31 July 2024 2024 Unrestrict Restricted ed funds funds 2023 Total funds Total funds Note Income and endowments Donations and legaaes Charltable activities other income 7,639 91.179 382 500 1.205 8,139 92,384 382 7.331 78.429 2.670 30 Investrnent income 61 61 Total Incom• 99,261 1,705 100,966 88,460 Expendlture Expenditure on raising funds: Cost of other trading activities Expenditure on charitable actlvities Total expendlturn 9.10 97,720 1,580 99,300 94,694 97,720 1,580 99,300 94,694 Net movement In fvnds 1,541 125 1.666 16,2341 Recondllatlon of funds Total funds brought forward Totsl funds carrled forward 9,016 10,557 9,016 10.682 15,250 9,016 125 The statement of finanaal actlvltles includes all gains and losses recognlsed in the year. All income and expendlture derive from continuing activities. The notes on page 6t0 15 form part ofthese financial statements. Page 4
Flamstead Pre School Statement of Flnancial Posillon Year ended 31 Juty 2024 2024 2023 Tavjrble fixed aSts 117 217 140 217 217 140 16 5.262 5.262 9.435 14.697 692 Gish at bar* and harnl 426 s24 10.116 14.271 426 932 1.240 13,339 126 13,465 8,876 13.556 126 13,682 9.016 13.556 L26 13,682 9.016 3.1)00 3,000 19 10,556 126 10,682 9,016 I$e _
Flamstead Pre School Notes to the Financial Statements Year ended 31 July 2024 l. General Inforniatlon The charlty Is a publlc benefit entity and a reglstered charity In England and Wales and is unincorporated. The address of the prinapal Offi is Willage Hall, Church Road, Flamstead, St Alban5. Hertfordshire, AL3 8BN. 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 Practlce appllcable to charities preparing their accounts in accordan with the Flnanaal Reporting Standard applicable in the UK and Republlc of Ireland (FRS 102) (Charitie5 SORP (FRS 102)) and the Charities aAct 2011. Basis of preparntlon The financial statements have been prepared on the historical cost basis. as modified by the revaluatlon of certaln flnanclal assets and liabilitles and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterfing. which is the functional currency of the entity. Golng concern The are no rnaterial UnrtaIntleS about the charity's ablllty to continue. Dlsclosure exemptlons The company has taken the advantsge of the exemption in Firkincial Reportlng Standard 102 Section IA from the requirement to produce a Cash Flow Statement and disclosure on Financial Instruments on the grounds that the charity is small. Judgements and key sources of tIMatIon uncertalnty The preparation of the Financlal Statements requires management to make Judgements estlmates and assumptions that affett the amounts reported. These estimates and judgements are continually reviewed and are based on experien and other factors, including expectations of future events that are belleved to be reasonable under the arcumstances. Income tax The Pre School is a reglstered charity and accordingly Is exempt from tsxation on its income and gains whilst they are applied for charitable purposes. Page 6
Flamstead Pre School Notes to the Financlal Statements (con(thu•d) Year ended 31 July 2024 3. Accounting polkles (Lxvrtinual) Fund accountlng Unrestricted fijnds 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 trustses for particular future project or commitment. Restrirted fund5 are subjerted to restrictions on their expenditure declared by the donor or through the terrns of an appeal. and fall into one of two sub-da5ses: restrirted income funds or endowment furKIs. Incomlng resources All incoming resources are included in the staternent of financial activities when entitlement has passed to the tharity: it is probable that the economic benefits associated with the transattion will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of incorne: income from donations or grdnts is recognised when there is evidence of entitlement to the gift, receipt is probable, and its amount can be measured rellably. legacy income is CogniSed when receipt is probable, and entitlement is establlshed. income from donated goods is measured at the fair value of the goods unless thls 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 servi are recognised in the accounts when received if the value can be reliably measured. No amounts are induded for the contribution of general volunteers. income from contracts for the supply of Servi is recognised with the delivery of the contracted service. This is dassified as unrestricted funds unless there is a contractual requirnent for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Page 7
Flamstead Pre School Notes to the Flnanclal Statements {thu•d) Year ended 31 July 2024 Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. aFMI is classified under headings of the statement of finanaal activities to which it relates: • expendlture on raising funds Indudes the costs of all fundralslng activities. events, non-charitable trading activities, and the sale of donated goods. eXpendItu on charltable activlties Indudes all costs incurred by a charity in undertaklng activltles 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. other expenditure indudes all expenditure that is neither related to raising funds for the charity nor part of its expenditu on charitable actlvities. All costs are allocated to expenditure categories refiectin9 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 tSiS. Operatlng leases Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease inntiveS is recognlsed as a reduction to expense over the lease term. on a straight-line basis. Tanglble assets Tangible assets are initially recorded at cost, and subsequently ststed at cost less Tany accumulated depreciation and impalrment losses. Any tangible assets carrled at valued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairnient losses. An increase in the carying amount of an asset as a result of a revaluatS0n, Is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the Page 8
Notes to the Financial Ststements (conunued) lar ended 31 July 20. 3. k¢ountlng polldes (ConthU) statement of financial activities. A decrease in the carying arnount 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 Ioss ts shown within other recognised galns and losses on the ststement of financial artivities. Depreclatlon DepCiatIon is calculated so as to write off the cost or valuatlon of an asset, less its residual value. over the useful economic life of that asset as follows: Equipment 33.3% straight line
Flamstead Pre School Notes to the Financial Statements (contthuod) Year ended 31 July 2024 Impairnient of flxed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indlcators 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 Impalrment testing, when it is not Possible to estimate the recoverable amount of an individual asset, an estirnate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The ca5h-generating unit is the smallest Identifiable group of assets that indudes the asset and generates cash inflows that laryely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acqulred in a buslness combination is from the acqulsltion date. allocated to eath of the cash-generating units that a experted to benefit from the syneryies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. 2024 Restricted funds 2023 Unrestrlcteo funds Totsl fvnds Total funds Donations Donations and legacies 7,639 500 8,139 7,331 5. Charitable actlvities 2024 Restricted funds 2023 Unrestrfcted funds Total funds Total funds Charltable acthiltles 91,179 1,205 92,384 78,429 Page 10
Flamstead Pre School Notes to the Financial Statements (contlnued) Year ended 31 July 2024 2024 Restricted funds 2023 Unrestrirted funds Totsl funds Total funds other Income Other Income 382 382 2.670 2024 Restrlcted funds 2023 Unrestricted funds Total funds Total funds Other income Interest received 61 61 30 2024 Restrirted funds 2023 Untritted funds Total funds Total funds Cost of other tradlng activities Cost of other trading artlvltles Page 11
Flamstead Pre School Notes to the Financial Statements (OnUed) Year ended 31 July 2024 2024 Restricted funds 2023 Unrestricted funds Total funds Total fvnds Expenditure on charftable actlvltles Wages and salaries 80,501 Sub-contractors 599 81,100 75,712 267 Pension contributions 1.142 8,202 1,142 8,202 1,113 8,748 Rent Accountancy and professional fees Material and equipmei Advertising Telephone Recruitment cost 3.219 3.219 3.144 1.891 531 637 528 1,868 696 531 245 245 251 144 144 47 Insurance 848 877 Subscrlption Training Donations 914 914 721 246 300 Bank charges other Offi cost 60 48 118 421 Total Expendlture 97,815 1,236 99,051 94,459 024 Restricted funds 2.023 unStrirted funds Total funds Total funds Depreclatlon of tanglble flxed assets Depreciation of office equipment 249 249 235 Page 12
Flamstead Pre School Notes to the Financial Statements (c¢>nthiued) Year ended 31 July 2024 11. Cost of ather trading activlti 2024 Restricted funds 2023 Unrestricted funds Total funds Total funds Cost of other tradlng actlvttles Materlal and equipment 11 Independent examlnation fees 2024 Restrlcted funds 2023 Unrestricted funds Totsl ftinds Totsl fvnds Fee payable to the Independent examiner for: Independent examination fees 690 690 690 13. Staff cost The total staff costs and employee beneffts for the reporting period are are analysed as follows". 2024 Restrirted funds 2023 UnStriCted funds Total funds Total funds Wages and salaries Employees beneffts Employer contributions to pension plan 80,501 599 81,100 75,712 1.142 1,142 1113 81,643 599 82,242 76,825 The average head count of employees durfng the year was 7 (2023: 8) No employee received employee benefits of more than £60.000 during the year (2023: £Nil). I Trustee remuneration and expenses No Trustee remuneration or other expenses were paid during the year (2023: £Nil}. Page 13
Flamstead Pre School Notes to the Financial Statements (cothinuedj Year ended 31 July 2024 15. Tanglble flxed assets 2024 Restricced Total equipment •qulpment 2023 Totsl equipment Unrestricted equipment Cost At l August 2023 Additions 2796 2796 2,796 326 326 At 31 July 2024 3,122 3.122 2,796 Depreciatlon At l August 2023 Charye for the year At 31 July 2024 2656 2656 2,421 235 249 249 2,905 2,905 2,656 Carrying amount At 31 July 2023 At 31 July 2024 140 140 375 217 217 140 16. Debtors 2024 Restricted debtors 2023 Total debtors UnStricted debtors Total debtors Trade debtors 4,730 364 4,730 364 3,708 291 Prepayments Other debtors 168 693 5.262 5,262 4,692 17. Credltors: amounts falling due wlthln one year 2024 Restricted Total creditors credltors 2023 Total creditors Unrestricted creditors Trade creditors Other credltors Accruals and deferred income Social security and Pension 303 300 300 690 690 690 242 242 247 932 300.00 1.232 1,240 Page 14
Flamstead Pre School Notes to the Financial Statements {contlnu•dJ Year ended 31 July 2024 18. Long-terni Ilabllltes 2024 Restricted cdItorS 2023 Total creditors Unrestricted creditors Totsl credltors 3,000 3,000 3.000 3.000 19. Penslons and other post-retlrement beneffts The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1.142 (2023: £1,113). 20. Analysls of tharltable unreStrIc and restricted funds 01 August 2023 Income Expermliture 31 July 2024 Unrestricted funds Restricted funds 9.016 99.261 1,705 100,966 (97,720) 11,5801 .99,3001 10,557 125 9,016 10.682 21.Related parties Trustees who a parents of children at the Pre-school get a small discount (£5 per day) on the standard charge. Page 15