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2021-03-31-accounts

Annual General Meeting 14[th] June 2021

Attendees:

Alix McKibbin, Yvonne Bryning, Kirsty Wharton, Chris Hill, Victoria Jenkinson, Emma Potter, Olivia Theobald Vella.

Agenda

The AGM took place online via Zoom link due to Covid-19 restrictions, all members of the committee, staff and parents were invited to join the meeting at 8pm.

Minutes

Thank you for attending the meeting the current committee consists of Alix McKibbin, Yvonne Bryning, Chris Hill, Victoria Jenkinson, Emma Potter, Olivia Theobald Vella & Sarah Hamlyn.

Chair’s report

It has been a challenging and wholly unpredicted year but, despite this, there have been many successes which are due to the dedication of the manager, staff and committee. Before looking at these, thanks and gratitude must go to the following:

Manager and staf

After the first lockdown, playgroup was able to re-open; first to Room Two children and then to the full playgroup. It has remained open ever since. This is testament to the work of Kirsty and the staff who have stepped into new roles, committed many hours to providing education and enjoyment for the children in limiting circumstances and worked tirelessly to find a course through very challenging events. A huge thank you for your hard work and commitment this year.

Committee

PAGE 1 OF 6

Amongst the unpredicted events of this year came the need to form a completely new committee during the summer of 2020, myself as Chair included. Countless hours have been dedicated by the committee to supporting the playgroup and staff throughout this year. This committee has been positive, proactive and committed and I am extremely grateful and appreciative for all of their hard work and effort. Thank you to each member for their incredible effort.

Fundraising

A key role of the committee continues to be working with the staff and community to raise funds for the playgroup. Whilst the pandemic has made this more difficult, the August Go Fund Me, Christmas elf hunt, raffles, bingo, online quiz, Easter egg hunts and being part of the Co Op local causes have raised over £3000 and also promoted the playgroup positively. Part of this money has helped to support the playgroup through the pandemic and will be used to develop the outside play area and communication with families thorough an online platform. This online platform will also make the running of playgroup more efficient.

Website, logo and Facebook

Thank you to Simon Jenkinson for developing a new logo and website in conjunction with the committee and staff. The website and logo has modernised the playgroup whilst keeping its community feel. This also makes it easier and more accessible for families to enquire about the setting and for the playgroup to be celebrated through social media.

Extended hours

The committee agreed to extend the playgroup opening hours (five days 9 am – 3.15 pm) from September 2021 and has been working on the implementation of this over the current year. Initially, this will mean an offer of five full days in room two and two full days in room one (plus the remaining mornings).

Stafng

With the agreement of staff and HR support, the committee moved staff contracts to salaried rather than per hour. This had been requested by the staff for a long time and now makes financial budgeting much simpler. Two members of staff are also being supported by the playgroup to train to a level 3 qualification. This will be ongoing for the coming academic year. As part of the extended hours in September, the playgroup is also in the process of recruiting a job share manager and room supervisor.

Looking forward the committee will be:

PAGE 2 OF 6

Finally, thank you again to each staff and committee member for the huge amount of effort given this year. In addition, thank you to the families who continue to support the playgroup setting.

Treasurer’s Report

Wilford Village Playgroup use Low Cost Accounts, an accountancy firm based in Wilford industrial estate, and we employ Sarah Dakin, an AAT licensed accountant, for independent examination in the last 2 financial year.

High light of the account:

Net income £-7100 at the end of financial year 2020/21, total fund carried forward £63,831, amount these net assets, £34,803 is restricted funds according to our reserve policy.

Impact of Spring 2020 national lockdown:

No income apart from some fund from the government. Paid all the staffs full wages, including 3 staffs who left Playgroup just before lockdown were furlough with us. Huge loss was made between April to August. Restrictions in place made it impossible to run toddler group, which generates small income and attracts more families to sign up with Playgroup. However, since we were back to business from Autumn term, our finance is stable.

Things to keep an eye on:

Manager’s report

Wow what a year! It has been a quite different year for us all, which has bought many additional restrictions for us at Playgroup. It has been

PAGE 3 OF 6

overwhelming to keep up to date, and on top of all the requirements, but as a team we have dealt with things extremely well. With the staff’s hard work, determination, and the support from the families I am proud to say we had not one positive case of coronavirus since the pandemic started.

Current numbers

Room 1 – Caterpillars - 21 Children on register.

----- Start of picture text -----
M T W T F
1 1 1 1 1
6 5 5 4 3
----- End of picture text -----

Room 2 – Butterflies – 17 Children on register.

----- Start of picture text -----
W
M T T F
1 1 1 1 1
2 6 1 7 2
----- End of picture text -----

We have had 2 consecutive years now of lower numbers than normal. This could be down to many reasons e.g., Coronavirus, low birth rate etc. Stafng

Staffing is as follows:

Room 1 Caterpillars:

Room 2 Butterfies:

Training completed

PAGE 4 OF 6

September

New opening times from September 21

Room 1 Caterpillars – Monday/Wednesday/Friday 9:00-12:00, Tuesday and Thursday 9:00-3:15.

Room 2 Butterflies – Monday – Friday 9:00-3:15.

As well as offering additional full days, we are also offering afternoon sessions, which are 12:15-3:15.

We are currently recruiting for a job share Manager and full time Room Supervisor to fill the positions with the extended hours.

Waiting lists

Places for September have been confirmed. Numbers are looking good and we still have enquiries coming in.

Waiting lists are building up for after September.

Parent and Toddler group

Unfortunately, we have been unable to restart the Parent and Toddler group due to the room being a shared room. However, we do plan to start this up in the coming months.

We have had a lot of interest for this.

Developments

We are in the process of setting up childcare software called EYMAN and EYLOG. This will be launched in September. EYMAN is the management software for children’s details, invoices, etc and EYLOG is for practitioners and parents. This is a secure online platform for practitioners to record children’s observations, assessments and planning and a much easier way for us to share these with the parents/carers. We are excited to start using this and hope it will not only save us valuable time doing paperwork but improve our communication with parents.

PAGE 5 OF 6

We are also in the process of developing our outdoor area. Improving the continuous provision outdoors as well as using the CO-OP community grant to have a sheltered area. We are currently getting quotes for this and hope it will be finished by the end of this year.

Finally

None of the work we do here could happen without the dedication of the staff and committee. There are many additional hours that go unnoticed when work is being done out of hours. Thank you to all the staff and committee for their continued support. I would personally like to thank Alix for her support over the last year.

Committee elections

Alix McKibbin will be resigning as Chair. Chris Hill has shown interest in the Chair position, he has been nominated by Alix McKibbin and seconded by Olivia Theobald Vella, all attendees voted in favour unanimously.

Actions :

Olivia Theobald Vella has shown interest in the secretary position, Chris Hill has nominated Olivia, and this has been seconded by Emma Potter. All have voted in favour.

There was no other business to be discussed.

PAGE 6 OF 6

Wilford Village Playgroup

Charity No. 1038552

Trustees' Report and Unaudited Accounts

31 March 2021

Wilford Village Playgroup Contents

Pages
Trustees' Annual Report 1
Statement of Financial Activities 2
Balance Sheet 3
Statement of Cash flows 4
Notes to the Accounts 5
Detailed Statement of Financial Activities 6 to 7

Page 1

Wilford Village Playgroup Trustees Annual Report The Trustees present their report with the unaudited financial ststements of the charity for the year ended 31 March 2021. REFERENCE AND ADMINISTRATIVE DEfAILS Charlty No. 1038552 Trustees The following Trustees served durlng the year: Y. 8ryning S.L. Hamlyn V. Jenkinson N. Johnson A. Macnaughtan A, McKibbin O. Theobald-vella Accountants HICloud Accountlng Llmlted Unlt 24 Wllford Buslness Park RuddlnBton Lane Nottingham NGII 7EP Statèrnènt of trustees, responslbllltles In relatlon to the flnanclal statements The charity trustees are responsible for preparlng a trustee5' annual report and financlal statement5 In accordance with applicable law and United Kingdom Accounting Standards Iunlted Kingdom Generally Accepted Accountin8 Practlcel. The Trustees are responslble for keeplng proper accounting records that dlsclose with reasonable accuracy at any time the financSal positlon of the charity and to enable them to Ènsure that the financial statements Comply with the Charities Act 2011, the applicable Charities IAccounts and Reports) Regulations. and the provlslons of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charlty and hence tsklng reasonable steps for the preventlon and detectlon of fraud and other Irregularities. Slgned on behalf of the charity's trustees A. McKibbln Trustee 31 March 2021 Page 2

Wilford Village Playgroup Statement of Financial Activities

for the year ended 31 March 2021

Notes
Income and endowments
from:
Donations and legacies
3
Other
4
Total
Expenditure on:
Other
5
Total
Net gains on investments
Net (expenditure)/income
Transfers between funds
Net (expenditure)/income
before other gains/(losses)
Other gains and losses
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2021
£
-
78,343		 Restricted
funds
2021
£
-
2,230		 Total funds
2021
£
-
80,573		 Total funds
2020
£
1
130,146
78,343
87,180		 2,230
579		 80,573
87,759		 130,147
123,590
87,180
-		 579
-		 87,759
-		 123,590
-
(8,837)
-		 1,651
-		 (7,186)
-		 6,557
-
(8,837)
86		 1,651
-		 (7,186)
86		 6,557
254
(8,751)
70,931		 1,651
-		 (7,100)
70,931		 6,811
64,120
62,180 1,651 63,831 70,931

Page 3

Wilford Village Playgroup Balance Sheet

at 31 March 2021

Charity No. 1038552
Current assets
Debtors
7
Cash at bank and in hand
Creditors:Amount falling due within one year
8
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
9
Restricted income funds
Unrestricted funds
9
General funds
Reserves
9
Total funds		 2021
£
-
64,083
64,083
(252)
63,831
63,831
63,831
63,831
1,651
1,651
62,180
62,180
63,831		 2020
£
349
78,516
78,865
(7,934)
70,931
70,931
70,931
70,931
-
-
70,931
70,931
70,931

Approved by the trustees on 31 March 2021

And signed on their behalf by:

A. McKibbin Trustee 31 March 2021

Page 4

Wilford Village Playgroup Notes to the Accounts

for the year ended 31 March 2021

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

Income

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 5

Wilford Village Playgroup Notes to the Accounts

Expenditure

Taxation

The charity is exempt from tax on its charitable activities.

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.

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.

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.

Page 6

Wilford Village Playgroup Notes to the Accounts

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.

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.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 7

Wilford Village Playgroup Notes to the Accounts

2 Statement of Financial Activities - prior year

Income and endowments from:
Other
Total
Expenditure on:
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
3
Income from donations and legacies
4
Other income		 Unrestricted
£
78,343
-
78,343		 Restricted
£
-
2,230
2,230		 Unrestricted
funds
2020
£
130,146
130,146
123,589
123,589
6,557
6,557
255
6,812
64,120
70,932
Total
2021
£
-
-
Total
2021
£
78,343
2,230
80,573		 Total funds
2020
£
130,146
130,146
123,589
123,589
6,557
6,557
255
6,812
64,120
70,932
Total
2020
£
1
1
Total
2020
£
130,146
-
130,146

Page 8

Wilford Village Playgroup Notes to the Accounts

5 Other expenditure

Employee costs
Motor and travel costs
Premises costs
General administrative costs
Legal and professional costs
6
Staff costs
Salaries and wages
Social security costs
Pension costs
No employee received emoluments in excess
7
Debtors
Trade debtors
8
Creditors:
amounts falling due within one year
Accruals and deferred income		 Unrestricted
£
-
76,068
-
7,375
2,412
1,325
87,180
of £60,000.		 Restricted
£
579
-
-
-
-
-
579
73,057
789
857
74,703
2021
£
-
-
2021
£
252
252		 Total
2021
£
579
76,068
-
7,375
2,412
1,325
87,759		 Total
2020
£
-
109,954
38
7,852
4,599
1,147
123,590
102,183
6,374
561
109,118
2020
£
349
349
2020
£
7,934
7,934

Page 9

Wilford Village Playgroup Notes to the Accounts

9 Movement in funds

Restricted funds:
Restricted income funds:
Total
Unrestricted funds:
General funds
Revaluation Reserves:
Total funds
10 Analysis of net assets between funds
Net current assets
11 Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 1 April
2020
-
-
70,931
70,931		 Incoming
resources
(including
other
gains/losses
)
£
2,230
2,230
78,429
80,659
Unrestricted
funds
£
29,028
29,028
At 1 April
2020
£		 Resources
expended
£
(579)
(579)
(87,180)
(87,759)
Restricted
funds
£
34,803
34,803
Cash flows
£		 At 31
March
2021
£
1,651
1,651
62,180
63,831
Total
£
63,831
63,831
At 31
March
2021
£
78,516 (14,433) 64,083
78,516
78,516		 (14,433)
(14,433)		 64,083
64,083

Page 10

Wilford Village Playgroup Notes to the Accounts

12 Commitments

Operating lease commitments

Annual commitments under non-cancellable operating leases are as follows:

2021 2021 2020 2020
Land and
buildings		 Other Land and
buildings		 Other
£ £ £ £
Operating leases with expiry date:
Pension commitments
2021 2020
£ £
The pension cost charge to the charity
amounted to: 857 561

Page 11

Wilford Village Playgroup Statement of Cash flows for the year ended 31 March 2021

Cash flows from operating activities
Net (expenditure)/income per Statement of Financial Activities
Adjustments for:
Dividends, interest and rents from investments
Decrease/(Increase) in trade and other receivables
(Decrease)/Increase in trade and other payables
Net cash used in operating activities
Cash flows from investing activities
Dividends, interest and rents from investments
Net cash from investing activities
Net cash from financing activities
Net (decrease)/increase 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		 2021
£
(7,100)
(80,573)
349
(7,682)
(95,006)
80,573
80,573
-
(14,433)
78,516
64,083		 2020
£
6,812
(130,146)
(349)
7,933
(115,750)
130,146
130,146
-
14,396
64,120
78,516
Components of cash and cash equivalents
Cash and bank balances 64,083 78,516
64,083 78,516

Page 12

Wilford Village Playgroup Detailed Statement of Financial Activities

for the year ended 31 March 2021

Income and endowments from:
Donations and legacies
Other
Total income and endowments
Expenditure on:
Other expenditure
Employee costs
Salaries/wages
Employer's NIC
Pension costs
Staff entertainment
Staff training
Staff welfare
Travel and subsistence
Premises costs
Rent
Premises cleaning
Premises repairs and
maintenance
Other premises costs
General administrative costs,
including depreciation and
amortisation
General insurances
Information and publications
Postage and couriers
Software, IT support and related
costs
Stationery and printing
Sundry expenses		 Unrestricted
funds
2021
£
-
-
78,343
-
78,343
78,343
-
-
73,057
789
857
-
513
852
76,068
-
-
6,072
1,232
71
-
7,375
463
16
5
-
73
1,437		 Restricted
funds
2021
£
-
-
-
2,230
2,230
2,230
579
579
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
2021
£
-
-
78,343
2,230
80,573
80,573
579
579
73,057
789
857
-
513
852
76,068
-
-
6,072
1,232
71
-
7,375
463
16
5
-
73
1,437		 Total funds
2020
£
1
1
130,146
-
130,146
130,147
-
-
102,183
6,374
561
100
433
303
109,954
38
38
6,072
1,456
54
270
7,852
464
-
-
200
1,132
2,131

Page 13

Wilford Village Playgroup Detailed Statement of Financial Activities

Telephone, fax and broadband
Legal and professional costs
Accountancy and bookkeeping
Management charges
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net (expenditure)/income
Net (expenditure)/income before
other gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 418
2,412
594
-
731
1,325
87,180
87,180
-
(8,837)
(8,837)
86
(8,751)
70,931
62,180		 -
-
-
-
-
-
579
579
-
1,651
1,651
-
1,651
-
1,651		 418
2,412
594
-
731
1,325
87,759
87,759
-
(7,186)
(7,186)
86
(7,100)
70,931
63,831		 672
4,599
795
93
259
1,147
123,590
123,590
-
6,557
6,557
254
6,811
64,120
70,931

Page 14

Independent examiner’s report to the trustees of Wilford Village Playgroup

I report to the trustees on my examination of the accounts of Wilford Village Playgroup for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity trustees of the Trust 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 Trust’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 the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records.

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.

Signed:

Name: Sarah Dakin

Relevant professional qualification or membership of professional bodies (if any): AAT, regulated under licence number 1004444.

Address: 17 Hannah Crescent, Wilford, Nottingham, NG11 7ER Date: 08/06/2021