Charity registration number: 1037833
## Youth Centre Playgroup (Lymington)
known as
Pennington Village Pre-School
Annual Report and Financial Statements for the Year Ended 31 May 2024
Westlake Clark Chartered Accountants 7 Lynwood Court Priestlands Place Lymington Hampshire SO41 9GA
## **Youth Centre Playgroup (Lymington)**
## **known as Pennington Village Pre-School**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 3|
|Statement of Trustees' Responsibilities|4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8 to 12|
## **Youth Centre Playgroup (Lymington)**
## **known as Pennington Village Pre-School**
## **Reference and Administrative Details**
**Trustees** Kelly Bush (chair) Katie Deller (secretary) Ellie Hurford (treasurer) Fiona Newland Chelsea Lambert **Principal Office** Pennigton Village Preschool c/o Pennigton Infant School Pennington Hants SO41 8HX **Charity Registration Number** 1037833 **Independent Examiner** Westlake Clark Chartered Accountants 7 Lynwood Court Priestlands Place Lymington Hampshire SO41 9GA
Page 1
## **Youth Centre Playgroup (Lymington)**
## **known as Pennington Village Pre-School**
## **Trustees' Report**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 May 2024.
## **Objectives and activities**
## _**Objects and aims**_
The charitable object of the charity is to enhance the development and education of children under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups.
## _**Public benefit**_
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Structure, governance and management**
## _**Nature of governing document**_
The charity is governed by its constitution adopted on 16 March 1994 and is a registered charity, number 1037833.
## **Financial instruments**
## _**Objectives and policies**_
The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
## _**Cash flow risk**_
The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.
Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.
## _**Credit risk**_
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
Page 2
## **Youth Centre Playgroup (Lymington)**
## **known as Pennington Village Pre-School**
## **Trustees' Report**
The annual report was approved by the trustees of the charity on 27 March 2025 and signed on its behalf by:
......................................... Kelly Bush Chair
Page 3
## **Youth Centre Playgroup (Lymington)**
## **known as Pennington Village Pre-School**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and 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 constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the charity on 27 March 2025 and signed on its behalf by:
......................................... Kelly Bush Chair
Page 4
## **Youth Centre Playgroup (Lymington)**
## **known as Pennington Village Pre-School**
## **Independent Examiner's Report to the trustees of Youth Centre Playgroup (Lymington)**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 May 2024 which are set out on pages 6 to 12.
## **Respective responsibilities of trustees and examiner**
As the charity’s trustees of Youth Centre Playgroup (Lymington) 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 Youth Centre Playgroup (Lymington)'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 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 Youth Centre Playgroup (Lymington) as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting 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.
Westlake Clark Limited Chartered Accountants 7 Lynwood Court Priestlands Place Lymington Hampshire SO41 9GA
Date: 27 March 2025
Page 5
## **Youth Centre Playgroup (Lymington)**
## **known as Pennington Village Pre-School**
## **Statement of Financial Activities for the Year Ended 31 May 2024**
|**Note**
**Income and Endowments from:**
Charitable activities
2
Investment income
3
Other income
4
Total income
**Expenditure on:**
Charitable activities
5
Other expenditure
6
Total expenditure
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
11|**Unrestricted**
**£**
116,285
304
-|**Total**
**Total**
**2024**
**2023**
**£**
**£**
116,285
156,844
304
81
-
-
116,589
156,925
(150,058)
(150,736)
(1,647)
(1,127)
(151,705)
(151,863)
(35,116)
5,062
75,243
70,181
40,127
75,243|
|---|---|---|
||116,589||
||(150,058)
(1,647)||
||(151,705)||
||(35,116)
75,243||
||40,127||
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 11.
Page 6
## **Youth Centre Playgroup (Lymington)**
## **known as Pennington Village Pre-School (Registration number: 1037833) Balance Sheet as at 31 May 2024**
|**Note**
**Current assets**
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
10
**Net assets**
**Funds of the charity:**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
11|**2024**
**2023**
**£**
**£**
41,807
76,365
(1,680)
(1,122)
40,127
75,243
40,127
75,243
40,127
75,243|
|---|---|
The financial statements on pages 6 to 12 were approved by the trustees, and authorised for issue on 27 March 2025 and signed on their behalf by:
......................................... Kelly Bush Chair
Page 7
## **Youth Centre Playgroup (Lymington)**
## **known as Pennington Village Pre-School**
## **Notes to the Financial Statements for the Year Ended 31 May 2024**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
Youth Centre Playgroup (Lymington) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Exemption from preparing a cash flow statement**
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## **Charitable activities**
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Page 8
## **Youth Centre Playgroup (Lymington)**
## **known as Pennington Village Pre-School**
## **Notes to the Financial Statements for the Year Ended 31 May 2024**
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
## **2 Income from charitable activities**
|Fees from parents/carers
Grants
Funding
**3 Investment Income**
Interest receivable and similar income:
Interest receivable on bank deposits|**Unrestricted**
**funds**
**General**
**£**
15,596
-
100,689|**Total**
**Total**
**2024**
**2023**
**£**
**£**
15,596
13,727
-
450
100,689
142,667
116,285
156,844
**Total**
**Total**
**2024**
**2023**
**£**
**£**
304
81|
|---|---|---|
||116,285||
||**Unrestricted**
**funds**
**General**
**£**
304||
## **3 Investment Income**
Page 9
## **Youth Centre Playgroup (Lymington)**
## **known as Pennington Village Pre-School**
## **Notes to the Financial Statements for the Year Ended 31 May 2024**
## **4 Expenditure on charitable activities**
|Salaries
Rent
Premises costs
Meeting costs
Equipment
Consumables
Office costs
Other payments|**Unrestricted**
**funds**
**General**
**£**
111,241
16,626
3,387
300
2,976
-
7,630
7,898|**Total**
**Total**
**2024**
**2023**
**£**
**£**
111,241
105,357
16,626
18,835
3,387
7,228
300
261
2,976
6,813
-
180
7,630
4,129
7,898
7,933
150,058
150,736|
|---|---|---|
||150,058||
||||
## **5 Other Expenditure**
|**5 Other Expenditure**|||
|---|---|---|
|Allocated support costs – Accountancy fees|**Unrestricted**
**funds**
**General**
**£**
1,647|**Total**
**Total**
**2024**
**2023**
**£**
**£**
1,647
1,127
1,647
1,127|
||1,647||
||||
## **6 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
Page 10
## **Youth Centre Playgroup (Lymington)**
## **known as Pennington Village Pre-School**
## **Notes to the Financial Statements for the Year Ended 31 May 2024**
## **7 Staff costs**
The aggregate payroll costs were as follows:
|**Staff costs during the year were:**
Wages and salaries|**2024**
**£**
111,241|**2023**
**£**
105,357|
|---|---|---|
No employee received emoluments of more than £60,000 during the
## **8 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **9 Creditors: amounts falling due within one year**
|Accruals
**10 Funds**
**Unrestricted funds**
**_General_**
General
**Unrestricted funds**
**_General_**
General|**Balance at**
**01/06/2023**
**£**
75,243|**Incoming**
**resources**
**£**
116,589|**2024**
**2023**
**£**
**£**
1,680
1,122
1,680
1,122
**Resources**
**Balance at**
**expended**
**31/05/2024**
**£**
**£**
(151,705)
40,127
**Resources**
**Balance at**
**expended**
**31/05/2023**
**£**
**£**
(151,863)
75,243|**2024**
**2023**
**£**
**£**
1,680
1,122
1,680
1,122
**Resources**
**Balance at**
**expended**
**31/05/2024**
**£**
**£**
(151,705)
40,127
**Resources**
**Balance at**
**expended**
**31/05/2023**
**£**
**£**
(151,863)
75,243|
|---|---|---|---|---|
||||**Resources**
**expended**
**£**
(151,705)||
||**Balance at**
**01/06/2022**
**£**
70,181|**Incoming**
**resources**
**£**
156,925|**Resources**
**expended**
**£**
(151,863)|**Balance at**
**31/05/2023**
**£**
75,243|
## **10 Funds**
Page 11
## **Youth Centre Playgroup (Lymington)**
## **known as Pennington Village Pre-School**
## **Notes to the Financial Statements for the Year Ended 31 May 2024**
## **11 Analysis of net assets between funds**
|Current assets
Current liabilities
Total net assets
Current assets
Current liabilities
Total net assets
**12 Analysis of net funds**
Cash at bank and in hand
Net debt|**At 1 June**
**2023**
**£**
76,365|**Unrestricted**
**funds**
**Total funds**
**General**
**2024**
**£**
**£**
41,807
41,807
(1,680)
(1,680)
40,127
40,127
**Unrestricted**
**funds**
**Total funds**
**General**
**2023**
**£**
**£**
76,365
76,365
(1,122)
(1,122)
75,243
75,243
**Financing**
**At 31 May**
**cash flows**
**2024**
**£**
**£**
(34,558)
41,807
(34,558)
41,807|
|---|---|---|
||76,365||
## **12 Analysis of net funds**
Page 12