MONTROSE PRE-SCHOOL
REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31st AUGUST 2024
Montrose Pre-School, The Methodist Church, Locket Road, Wealdstone, HA3 7ND
Telephone 020 8863 5800 Mobile 07940 439 255
Website www.montrosepreschool.co.uk email:montrosepreschool@yahoo.com
Registered Charity Number 1037511 Early Years Alliance Member 8986 Ofsted Registration 509061
MONTROSE PRE-SCHOOL
OFFICERS DURING THE YEAR ENDED 31 AUGUST 2024
TRUSTEES
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Chair : Aelwyn Taylor (From 1.4.14) Susan Aldridge (From 19.3.19) Elizabeth Allner (From 29.1.19) Joy Drummond (From 17.3.23) David Foinette (From 12.3.11) Aghileh Djafari Marbini (From 26.6.24) David Nixon (From 1.5.22) Sailesh Shah (From 21.1.19)
STAFF
Claire O'Driscoll : Manager Julie Curd : DeputyManager Katie Chambers Nina Comben Sora Shwayish Alessia D’Aversa
JOINT TREASURERS
David Foinette cto 31.8.24) Sailesh Shah cto 31.8.24)
BANKERS
Barclays Bank plc,
INDEPENDENT EXAMINER
Matthew Upton CA
CONSTITUTION
The Early Years Alliance, Pre-school Constitution 2008
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TRUSTEES REPORT FOR THE YEAR ENDING 31st AUGUST 2024
The Charity and Trustees
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Montrose Pre-School is an independent unincorporated charity reporting to the Charity Commission and OFSTED (Office for Standards in Education) and is a member of the Early Years Alliance, an organisation promoting good practice among all types of child carers, including Pre-Schools. Montrose Pre-School is governed by the Board of Trustees, with day to day responsibility undertaken by the Pre-School's Manager. Historically, Trustees have been recruited from the parents of children attending the Pre-School: from among the members of Wealdstone Methodist Church, in whose premises the Pre-School operates: and others in the local community with relevant skills. Its constitution is the Early Years Alliance Constitution 2008.
Aims and Objectives
The Pre-School aims to provide a happy, safe, and effective learning environment for children from the local community. The size of the premises restricts the number of children at any one time to 18, so the fact that both morning and afternoon sessions operate five days a week, significantly increases the number of children who can be offered places. The Trustees believe that they are meeting their obligation to assist the wider community by the Pre-School promoting and fostering working partnerships with children's parents or carers; ensuring equal opportunities for all; and including those from disadvantaged backgrounds, or having special educational needs. The Trustees have paid due regard to the guidance issued by the Charity Commission on public benefit.
Safeguarding, Equality and Recruitment
All Trustees and staff are subject to enhanced Disclosure and Barring Service (DBS) checks, and expected to enrol on the DBS Updates service. Where a person has not had the relevant DBS check, (for example a parent wishing to assist at a session on a one off basis), they are accompanied at all times by a staff member.
It goes without saying that there is no bar to any Trustee, staff member, parent or pupil attending the Pre-School on the grounds of race, religion, gender, sexual orientation, or disability.
Parents may apply for their child's place at any time, and need to show that either they qualify for assistance from the local authority, or can fund the sessions themselves.
Pay Policy and Equality
Staff during their probationary period are paid at the rate of the Living Wage. Upon concluding their probation the pay is increased when possible, depending on the grade and responsibility of the post. This applies equally to male and female staff.
Trustee Responsibilities
The Trustees accept that they must act strictly in accordance with the charity's constitution; act only in the charity's interests; take a long term view of the charity's operations; not to derive any personal gains from the charity; and to seek professional advice on matters which they are not competent to administer.
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Trustees Report for the Year Ending 3ist August 2023 Continued
| | |
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Trustee Responsibilities Continued
The Trustees are responsible for preparing the annual report and financial statements. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy atwith any time relevan t helegislation. financial positionThe Trustees of theare charityalso andresponsible to ensure thfor t a kingt financialreasonable statementssteps forcomplythe prevention and detection of fraud and any other irregularities.
Risks
The Trustees recognise six areas of risk to their operation.
Firstly, the charity is almost completely dependent upen grants from the local authority for its operation. If the rate per student were to be reduced, or the rates not raised in line with inflation, the charity would face an acute crisis. It is unlikely that a sufficient number of parents paying the full cost per child could be found, and even if the number were found, this would conflict with the objective to meet special and social needs in the local community.
Second, the Pre-School has competition for pupils from other pre-schools in the area, and also schools with nursery classes. If the full complement of morning and afternoon places were not to be filled, the viability of the Pre-School would be seriously affected.
Third, the Pre-School occupies the premises under an annual licence from Wealdstone Methodist Church. It would be possible, if the Church required the premises for other uses, for it to give three months notice to end the licence. In view of the links between the Church and the Pre-School, the Trustees feel that this eventuality is unlikely.
Fourth, the risk to governance as it is increasingly difficult to recruit volunteers from the parent group, the community or the church to become Trustees of the charity, especially those with expertise such as that required by a Treasurer.
Fifth, the need to ensure that staffing ratios are maintained at all times. Montrose Pre-School is very fortunate in having a loyal, hardworking team of staff, but this year has demonstrated the difficulty of recruiting appropriately qualified practitioners as an advertised part-time vacancy could not be permanently filled for a term and a half.
Sixth, if the curriculum standards expected by Ofsted were not met at inspection, that could lead to special measures being implemented, cause reputational damage and might ultimately lead to closure. (In November 2023 the Ofsted inspection Rated the Montrose Pre-School as Good).
Reserves and Financial Result
The trustees are pleased to report that in the year being reported, a surplus of £22,946 was made. This was due to some vigorous fund-raising activity by both management Committee and Staff; an increase in the levels of local authority grants, especially for two year old pupils and careful budgeting. In addition, a larger number of pupils needing extra support were enrolled, which also raised grant income, but generated an increased work load. This is the first time for several years that a surplus has been made, increasing the reserves towards the target level that the Pre-School needs for its long term future.
Aelwyn Taylor (Chair of Trustees)
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MANAGER'S REPORT FOR THE YEAR ENDING 3ist AUGUST 2024
September 2023 brought changes to the Pre-School. The Manager returned from sick leave and a staff member resigned to make a new career choice. This meant that the setting would need to recruit. The post was advertised and we awaited applications, but with no response. As usual the team railied and where necessary coped by working flexibly to cover sessions.. (Ratios were always adhered to).
New opening and closing times were introduced in September. As a way of trying to raise extra funds, the setting was now offering a breakfast club from 8am to 9am and an extra 45 minutes to an hour in the afternoon. This was designed to help any working parents and three to five families took up the offer. We started the term with 26 children on roll and the numbers increased gradually over the months. Another change was that children were now wearing a uniform which they bought from us. The staff were also wearing a new pink polo shirt, and all of this was seen as a way of advertising the setting. Daily Instagram posts showcased the variety of activities on offer and showed pictures of the stimulating environment the children were experiencing as part of the curriculum.
The new Eylog, (a digital system that the staff could use for observations and creating learning journeys for the children) was introduced in May, but came into its own in September 2023. As weil as recording progress, it is also used as a means of communicating with parents or carers and sharing the children's progress reports and photographs of activities that they took part in. This has proved to be highly effective and has helped staff to reduce some of the endless paperwork. Parents have also fed back that they feel they are having that daily connection and being part of their child's journey.
The dreaded call that we had been expecting from Ofsted happened on the ninth of November and the inspection happened on the tenth of November. Fortunately it went very well and we got our “Good" outcome. The inspector was very impressed with the setting and gave positive feedback both on the quality of the environment and the professionalism of the staff. Her parting words were "If I had a grandchild, I would love them to come to this setting”.
Spring term began on a busy note, with lots for the staff te deal with. Numbers increased as did the workload. Eventually by the end of February we had a new member of staff in post, who could work for sixteen hours per week. This helped immensely with the workload and freed up the staff to do some observations on their key children and also to take the children on outings in the local community, such as to the library or park.
Summer term again started on a very busy note. All places were filled and when children moved on, they were quickly replaced. Adding to that, the rate of funding per child increased and this helped with the Pre-School ending the year in a much better financial state than when we started.
Claire O'Driscoll
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MONTROSE PRE-SCHOOL ACCOUNTS TO 31st AUGUST 2024 STATEMENT OF FINANCIAL ACTIVITIES
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| 2023/24 | 2023/24 | 2022/23 | |||
|---|---|---|---|---|---|
| Total | Inclusion | Total | Total | ||
| Funds | Funds | Funds | Funds | ||
| INCOMING RESOURCES | £ | £ | £ | £ | |
| London Borough of Harrow | 112,011 | - | 112 011 | 92,496 | |
| Inclusion Funding | - | 12,200 | 12,200 | 4,900 | |
| Fees | 5,990 | - | 5,990 | 3,035 | |
| Employment Allowance | 5,199 | - | 5,199 | 5,289 | |
| Interest Received Deposit Fund | 4,001 | - | 4001 | 2,130 | |
| Money for Lunches | 1,215 | - | 1,215 | 1085 | |
| Money-raising Events | 1,422 | - | 1,422 | 1111 | |
| Sale of Uniforms | 1,226 | - | 1,226 | - | |
| Apprentice Grants | - | - | - | 2,000 | |
| Total Incoming Resources | 131,064 | 12,200 | 143,264 | __112,046 | |
| RESOURCES EXPENDED | |||||
| Staff Costs | £ | £ | £ | £ | |
| Salaries | 81,843 | 11,730 | 93,573 | 96,947 | |
| National Insurance | 6,911 | - | 6,911 | 5,937 | |
| Pension Contributions | 2,715 | - | 2,715 | 2,425 | |
| Emergency Cover Training |
- 235 |
- - |
- 235 |
317 170 |
|
| Total Staff Costs | 91,704 | 11,730 | 103,434 | 105,796 | |
| Administration Costs | £ | £ | £ | £ | |
| Rent Landline, Broadband & Mobile Phone |
6,600 1054 |
- - |
6,600 1,054 |
6,300 1,160 |
|
| Printing & Stationery Insurance |
1,576 674 |
- - |
1,576 674 |
1,367 642 |
|
| Computerised Payroll Quickbooks |
1,621 403 |
- - |
1,621 403 |
1,442 324 |
|
| Registration and E.Y.A Membership CAplus eyLog Costco |
116 384 383 94 |
- - - - |
116 384 383 94 |
ii2 - 390 94 |
|
| OFSTED Membership | 50 | - | 50 | 50 | |
| Data Protection | 35 | - | 35 | 35 | |
| Independent Examination Sundries |
100 511 |
- - |
100 511 |
100 552 |
|
| TotalAdministration Costs | 13,601 | - | 13,601 | 12,568 | |
| Activities | £ | £ | £ | £ | |
| Cost of Lunches | 1,012 | - | 1,012 | 983 | |
| Stores/Supplies/Toys/Educational | 853 | - | 853 | 426 | |
| Cost of Uniforms | 829 | - | 829 | - | |
| Total Activity Costs | 2,694 | - | 2,694 | 1,409 | |
| Depreciation of Play Area equipment | ~~ | a90enrs.) | rs.) | B94 | |
| Total Provisions | 590 | - | 590 | 894 | |
| Total Resources Expended | 108,589 | 11,730 | 120,319 | 120,667 | |
| Net Incoming (Outgoing) Resources | 22,475 | 470 | 22,945 | -8,621 | |
| Balances Brought Forward at ist September | 72,512 | - | 72,512 | 81,133 | |
| Balances Carried Forward at 31st August 20¢ | 94,987 | 470 | 95,457 | 72,512 | |
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MONTROSE PRE-SCHOOL
BALANCE SHEET AS AT 3ist AUGUST 2024
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| 2023/24 | 2022/23 | |||||||
|---|---|---|---|---|---|---|---|---|
| Total | Restricted | Total | Total | |||||
| Funds | Funds | Funds | Funds | |||||
| CURRENT ASSETS | & | £ | £ | £ | ||||
| Fixed Assets | ||||||||
| Outdoor Equipmentat Cost | 9 B11 | - | - | 9811 | 9,811 | |||
| Less Depreciation | 8,611 | - | 8,611 | 8,021 | ||||
| Net Fixed Assets | (Note 8) | 1,200 | - | 1,200 | 1,790 | |||
| Cash | . | . | ||||||
| In Hand | 251 | - | 251 | 205 | ||||
| Current Account | : Barclays | Bank | 1,280 | - | 1,280 | 4,881 | ||
| Affirmative Deposit Fund | 91,549 | 470 | 92,019 | 65,052 | ||||
| Total Cash | (Note9) | 93,080 | 470 | 93,550 | 70,138 | |||
| Debtors | ||||||||
| Sundry Debtors | (Note 10) | - | - | - | 370 | |||
| Uniform Stocks | (Note 11) | 1,653 | - | 1,653 | 1,256 | |||
| Total Debtors | 1,653 | - | 1,653 | 1,626 | ||||
| Total Current Assets | 95,933 | 470 | 96,403 | 73,554 | ||||
| Less: Current Liabilities | ||||||||
| Inland Revenue | 846 | - | 846 | 942 | ||||
| NEST | - | - | - | - | ||||
| Independent Examiner | (Note 12) | 100 | - | 100 | 100 | |||
| Sundry Creditors | - | - | - | - | ||||
| Provision for Future Costs | - | - | - | - | ||||
| Tota! Current Liabilities | (Note 13) | 946 | - | 946 | 1,042 | |||
| NetAssetsEqualtoFunds | 94987 | 470 | 95,457 | 72,512 |
These Accounts were approved by the Trustees at their meeting on 3 th Maw A026
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Signed: \ lo.‘
C treasurer
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MONTROSE PRE-SCHOOL
2024
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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST
1. Accounting Standard
The Financial Statements have been prepared in accordance with Accounting and Reporting by Charities : Statement of Recommended Practice (SORP 2019), the Financial Reporting Standard FRS102, and Charities Reporting Regulations SI 321.
2 Public Benefit Entity
Montrose Pre-School meets the definition of a public benefit entity under FRS102. Assets and Liabilities are recognised at historical cost.
3. Basis
These accounts have been prepared on the basis of historical cost. Accruals basis has been used.
4. Content
The financial information presented is relevant, reliable, and complete. The accounts are expressed in Pounds Sterling, rounded to the nearest pound.
5. Going Concern
Based on the monetary and human resources available at 31 August 2024, the trustees believe that the Pre-School is a going concern.
6. Income Recognition
Income is brought into the accounts when it is more likely than not that the economic benefit will be forthcoming. The value of volunteer help is not recognised. If items are donated, the value will be shown in the notes to the accounts if the value is considered material.
7. Expenditure and VAT
Liabilities are recognised as soon as there is a legal or constructive obligation committing the Pre-School to pay out resources. The Pre-School is not VAT registered. All input VAT is charged with the expense to which it relates.
8. Fixed Assets
The Pre-School owns no land or buildings. Outdoor Equipment has been capitalised, and is depreciated at 33% per annum on the reducing balance as it is stored outside without cover. Other equipment assets have not been capitalised as no one item is worth more than £500. (2023-£500.)
Fixed Asset additions in the year were ENil (2023-£Nil). The cost value of Fixed Assets as at 31st August was £9,811 (2023-£9,811). The depreciation charge in the year was £590 (2023-£894). As a result, cumulative depreciation as at 31st August 2024 was £8,611 (2023-£8,021). The Net Book Value of Fixed Assets as at 31st August 2024 was therefore £1,200 (2023-£1,790).
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Notes to the Accounts for the Year Ended 31st August 2024 Continued
9. Bank and Cash
The liquid funds of bank and deposit fund balances are shown at their realisable value.
10. Debtors
Debtors are stated at the amount owed to the Pre-School €Nil, (2023- £370).
11. Stocks
Uniforms were used from Ist September 2023 for the first time. Parents will meet the cost. Stocks have been ordered to be ready for the new term. £1,653 (2023 £1,256).
12. Fee for Examination of the Accounts
The fee for reporting on the accounts is £100. (2023 £100).
13. Payables
Sundry Creditors are recognised at settlement amount after discount, or accrued. 2024 £Nil. (2023- £Nil).
14. Trustees
None of the Trustees or persons connected with them received any remuneration or other benefits from the Pre-School as a result of their office during the year.
15. Restricted Funds
From time to time monies are received for strictly specific use. The related receipts and payments are recorded in a separate column of the SOFA. The amount received during the year for Restricted Activity was £12,200. (2023- £4,900).
16. Staff
Five staff were employed for the 32 weeks of the school year plus holiday weeks, and six staff for seven weeks, three on a part-time basis. (2022 - 2023 Six staff were employed for the 39 weeks of the school year plus holiday weeks, three staff were employed on a part time basis).
17. Leave
The school year is 195 working days and 28 days of paid leave. The remaining part of the year is unpaid leave. Part time staff receive 28 days of pay at a proportion of full time pay that reflects their part-time status.
18. Pensions
The Pre-School is a member of the National Employment Savings Trust (NEST). This is a defined contributions scheme. Eligible staff are automatically enrolled into the scheme; other staff may join voluntarily. Current rates of contribution are staff 5% and employer 3%.
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Notes to the Accounts for the Year Ended 31st August 2024 Continued
:
19 Training
Staff are encouraged to undertake in work training, and are paid to attend approved courses.
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|---|---|---|---|---|---|---|---|---|
|20.|Wages|and|Associated|Costs|2023-24|2022-23|
|£|£|£|£|
|Gross|Pay|93,573|96,947|
|Employers|National|Insurance|Contributions|6,911|5,937|
|Employment|Allowance|5,199|5,289|
|Net|National|Insurance|eronn nnn n=--|1,712|----------:|648|
|Employers|Pension|Contributions|to|NEST|2,715|2,425|
|Net|Cost|of|Wages and|Associated|Costs|98,000|100,020|
|Average weekly|contractual|hours|for|staff|29.25|hours|30.21|Hours|
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21. Reserves Policy
It has always been the policy to create a reserve equal to six months running costs, first acheived in the year 2014-2015, plus an element equal to the statutory
redundancy pay entitlement of staff members in post at the date of the year end. In addition, the Pre-School is contracted to remove outdoor equipment. should the premises at the church cease to be used.
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|---|---|---|---|---|---|
|2023-24|2022-23|
|£|£|
|Six|months|running|expenses|60,159|60,233|
|Redundancy|for|staff|30,766|27 826|
|Delapidations|2,450|2,350|
|Target|Reserve|93,375|90,409|
|Reserve|Funds|95,457|72512|
|Surplus|(-Shortfall)|2,082|-17|897|
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22. Treasurer's Declaration
I confirm that these accounts have been prepared from the records of the Montrose Pre-School and that they include all funds under the control of the Pre-School Trustees.
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\ Kon | o| S | 1016
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David Foinette Date
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MONTROSE PRE SCHOOL
INDEPENDENT EXAMINERS UNQUALIFIED REPORT
Independent Examiner's Report to the Trustees of Montrose Pre School.
T report on the accounts of the Montrose Pre School, Charity Number 1037511, for the year ended 31 August 2024 which are set out on the accompanying pages 5 to 9
Responsibilities and Basis of Report.
As the preschool's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011. (The Act).
I report in respect of my examination of the pre-school accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have follwed 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 my examination, which gives me reasonable cause to believe that in any material respect
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the accounting records were not kept in accordance with section 130 of the Charities Act: or
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the accounts did not accord with the accounting records, or
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comply with the applicable requirements concerning the form and the 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,
T 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.
Matthew Upton CA, 40 The Avenue, Watford, Hertfordshire,, WD17 4NS
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