2024-03-31-accounts - Wilford Village Playgroup

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Rord Viii ygro Chair's report Overview: After a couple of very challengingyears for Playgroup, during Covid and the years recovering afterwards, we have seen a positive year of increased stability and growth. With the high demand for places. particularly as funded hours for all 2 years olds came into play, we were able to hire more staff and open both rooms full time. We are very thankful that the playgroup's position has stabilised and we are still able to keep fees low for Local families. Staff: We are thankful to Natalie for her continued hard work running and keeping the p18ygroup stable, showing fantastic initiative and great management skills. Over the past year there has been big staff changes. starting with Leslie and Tiff joining us in September and Faye and Rachel joining us in the past few months. We are grateful for the hard work all stsff have put in to make the playgroup a safe and enjoyable environment for our children. l also want to say a special congratulations to Jess who welcomed her baby at the start of June. Competitors: I wanted to briefly mention the challenge that has occurred since a competitor will open up provision for children in September. This thankfully hasn't impacted the playgroup or the numbers for children starting in September and we have seen such a positive response from parents who continue to send their children to Wilford Village Piaygroup. Thanks: Before I pass onto Alex and Natalie I would like to thank a few people. Firstly, to the committee members who have served this year-Alex and Natalie who have given theirtime to support the playgroup. The playgroup is unable to run without a strong team behind it and I'm thankfulfor all the insight that you have both brought and l am thankful to have you as part ofthe committee. Natalie, I wantto thankyou for all your continued hard work as manager. Throughout the good and tough times. l am so proud of the wayyou have stepped up and managed the playgroup this year. Your dedication and commitment to the playgroup Is admirable and we are lucky to have you leadingthe team. The hard work you have put into the children is recognisable not only by the successful events you have run, including the summer fundraiser and the room 2 graduation. but from the outstanding praise from the parents and those localto Wilford VTllage Playgroup. wanted to also thank Faye fortaking on the role as SENCO lead. It makes such an impact on parents to see their children supported in this area and we are thankfulfor the continued work that is being put in.

Rord Viii ygro To all the other staff at the playgroup, I want to say a big thank you on behalf of myself, the parents and children forthe level of care you put in for the children. Always giving them a great experience and range of opportunities at PLaygroup. Finally thank you all for coming to the AGM, I hope that you will consider getting involved with the committee- it is a real privilege to have a role in shapingthe playgroup for our children and seeing it go from strength to strengthl

Wilford Village Playgroup AGM 19 July 2024

Treasurer’s Report

Wilford Village Playgroup is a charitable organisation, we use HiCloud accounting limited based in Wilford business park for their accounting and payroll services. They provide us with access to QuickBooks which is a popular small business accounting software package. At the end of each financial year, our accountant Richard Austin from HiCloud complete an annual report before we submit it to Sarah Daykin, a Wilford based AAT regulated and licenced independent account examiner, for account examination.

Our Financial year 2023-2024 annual report is currently undergoing this process, with finalised accounts expected soon from Sarah Daykin and once complete will be uploaded to the Charity Commission government website. It can, therefore, be viewed together with the reports from previous years if anyone is interested.

The draft annual report shows that Playgroup has had a fantastic financial year. The Playgroup has increased its annual income to £173,143 compared to an income of £148,145. This means that Playgroup has increased its income this financial year compared to last by £24,998, and overall the draft accounts are showing that Playgroup has made a profit of just over £33,000. It was only two years ago that Playgroup had made regularly made a loss year on year so it is fantastic to see that Playgroup has recovered from Covid and can continue in the future.

This is very positive news and I would like to highlight several areas of financial success:

- As set out in the Chair’s and Managers’ reports Playgroup has been able to spend funds on staff training, and we have hired several new members of staff. Investing in our staff is important as well as ensuring that the children benefit from trained practitioners.
- We have been able to increase hourly pay for all our staff this year, whilst keeping prices for parents competitively low when compared to other early years facilities in the surrounding areas. We aim to review staff salaries again in September with a view to increasing hourly rates again.
- Extending the hours in Room 1 has had a very positive impact on Playgroup’s financial position and we feel that the decision to open Room 1 was the right one for Playgroup, as it has allowed parents to take advantage of the change in the government free hours provision that came into force this year.
In conclusion to my points, Playgroup staff, and in particular Natalie, and the committee have worked really hard this year to make the expansion of Room 1 a success and to continue to provide parents with a safe, community and parent led early years setting. As can be seen in the accounts expenditure for Playgroup continues to increase due to increases in prices which are affecting businesses and charities across all industries now however with small but affordable increases to the half day and full day rates alongside the opening of Room 1 full time, Playgroup has managed to make enough to cover these increases in expenditure. We hope that next year we will continue to see a stable financial performance which enables us to keep Playgroup open for the local community whilst also enabling us to ensure that our staff are paid properly in line with the increasing cost of living. We also know that there have been concerns about the future of Playgroup, which have been mentioned in the Chair’s report, regarding another setting opening close by, however we are not concerned by this and the strong financial performance of Playgroup demonstrates to us that Playgroup is doing well and will continue to do well next year.

Rord Viii ygro Manager's Report Firstly, thank you all for coming. Where has this year gone! it has been a busyyear and we have achieved so much as a playgroup and gained some fantastic new staff who have made playgroup shine against the rest. including Tiff, Deputy and Room 2 Lead, Lesley in room 2 and Faye who is our experienced and dedicated SENCO and soon to be promoted to Room 1 Lead. Current numbers See below current numbers on register. Room 1- Caterpillars - 27 Children on register. Monday AM Monday PM Tuesday AM Tuesday PM Wednesday AM Wednesday PM Thursday AM Thursday PM Friday AM Friday PM 19 17 16 17 20 16 Room 2- Butterflies-27- Children on register. Monday Monday Tuesday Tuesday Wednesday AM PM AM PM AM Wednesday PM Thursday AM Thursday PM Friday AM Friday PM 21 19 17 19 18 20 16 24 23 21 Numbers in Room 1 are similar to those of last year. Room 2 numbers have been considerably higher averaging 14 children a day. Numbers on the register for September are looking positive as a starting point for both rooms. Room 1- 26 with the highest day 16. Room 2- 23 with the highest day 20. Staff ing in September Room1: Faye- Room 1 LeadlSENCO Lynne/Kim- Level 3 Jyoti- Level 2 Joyti is currently training for level 3 qualification Room 2: Tiff - Room 2 Lead LesleylTracey- Level 3 We have support staff Rachel and Charlie who cover when needed and run the parent and toddler group on a Friday morningto get two year olds on the watting list.

Rord Viii ygro Opening hours We are currently still offering our 15 minutes either side wrap around care which has been very helpful for some parents, so this will continue into the next academic year. WYCS are now taking our 3 year olds for morning and afterschool. and they have had some applicants. Staff training and CDP Most staff are level 3 qualified or above and Jyoti is currently working hard to complete her NVQ level 3. Staff are now all first aid trained and sthieral staff have been trained in food safety for snack preparation. Staff have also taken part in training courses to continue their professional development including. maths and literacy courses and leadership and SENCO networks. Developments Staff have been working hard to get our room curriculums for each room completed, with displays such as: what we expect and want the children to know. learn and achieve in e8ch room. During the holidays staff will be working hard to get the rooms and garden ready for September, we will be adding new resources and buying new equipment including tableslchairs, home corner etc. Faye, who joined us in April. will be arranging some sing and sign sessions for the parents to come into the playgroup. We also have tots sports returning in September on Tuesday's for our room 2 children and Lauren, our dance teacher who comes on a Thursday and spends time with both rooms. Things to be proud of Playgroup has organised some successful fundraisers. includingthe latest Summer BBQ. that have been extremely busy raising £403 and gained 3 new starters for September, so overall was a fantastic day. Our room 2 children recently had their graduation over at the school which was also a big success. the children did so well learning their dance and songs and the parents/carers where overwhelmed with the preparation and dedication that had gone into the ceremony to make it happen, so a bigwell done to Tiff. Faye and Lesley forthat. Finally, none of the workwe do here could happen without the dedication of the staff and committee. Thankyou to all the staff and committee for their continued commitment and support, and I look forward to next year.

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 2024.

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:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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

Address: 42 Dungannon Road, Clifton, Nottingham NG11 9BT Date: 07/09/2024

Wilford Village Playgroup

Charity No. 1038552

Trustees' Report and Unaudited Accounts

31 March 2024

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 13

Page 1

Wilford Village Playgroup Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1038552

Trustees

The following trustees served during the year:

P. Heseltine

A. Leeming

J. Miller

E. Potter

A. Shaheen

Accountants

HiCloud Accounting Limited

Unit 7

Wheatcroft Business Park Landmere Lane Nottingham NG12 4DG

ACHIEVEMENTS AND PERFORMANCE

A large charity must provide an explanation of any material expenditure occurred to raise income in the future...

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to 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 Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

E. Potter Trustee 31 March 2024

Page 2

Wilford Village Playgroup Statement of Financial Activities

for the year ended 31 March 2024

Unrestricted funds	Restricted funds	Total funds	Total funds
2024	2024	2024	2023
£	£	£	£

173,143	-	173,143	148,145
173,143	-	173,143	148,145

139,687	-	139,687	136,487
139,687	-	139,687	136,487
-	-	-	-
33,456	-	33,456	11,658
-	-	-	-
33,456	-	33,456	11,658

200	-	200	59
33,656	-	33,656	11,717

56,105	3,017	59,122	47,405
89,761	3,017	92,778	59,122

Page 3

Wilford Village Playgroup Balance Sheet

at 31 March 2024

at 31 March 2024
Charity No. 1038552 Current assets Cash at bank and in hand 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 6 Restricted income funds Unrestricted funds 6 General funds Reserves 6 Total funds	2024 £ 92,778 92,778 92,778 92,778 92,778 92,778 3,017 3,017 89,761 89,761 92,778	2023 £ 59,122
		59,122
		59,122 59,122
		59,122
		59,122
		3,017
		3,017 56,105
		56,105
		59,122

Approved by the trustees on 31 March 2024

And signed on their behalf by:

E. Potter Trustee 31 March 2024

Page 4

Wilford Village Playgroup Notes to the Accounts

for the year ended 31 March 2024

1 Accounting policies

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

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
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

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

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

Unrestricted funds 2023 £ 148,145 148,145 136,487 136,487 11,658 11,658 59 11,717 44,388 56,105 Unrestricted £ 173,143 173,143	Restricted funds 2023 £ - - - - - - - - 3,017 3,017 Total 2024 £ 173,143 173,143	Total funds 2023 £ 148,145
		148,145 136,487
		136,487
		11,658
		11,658 59
		11,717 47,405
		59,122
		Total 2023 £ 148,145
		148,145

Unrestricted £ 2,021 116,211 10,194 8,878 2,383 139,687	Total 2024 £ 2,021 116,211 10,194 8,878 2,383 139,687	Total 2023 £ 1,820 115,769 9,908 7,851 1,139
		136,487

Page 8

Wilford Village Playgroup Notes to the Accounts

2024 105,502 5,161 2,216 112,879 Incoming resources (including other gains/losses ) £ - - 173,343 173,343 At 1 April 2023 £	Resources expended £ - - (139,687) (139,687) Unrestricted funds £ 92,778 92,778 Cash flows £	2023 105,221 3,251 3,501
		111,973
		At 31 March 2024 £ 3,017
		3,017
		89,761
		92,778
		Total £ 92,778
		92,778
		At 31 March 2024 £
59,122	33,656	92,778
59,122 59,122	33,656 33,656	92,778
		92,778

Page 9

Wilford Village Playgroup Notes to the Accounts

9 Commitments

Operating lease commitments

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

	2024	2024	2023	2023
	Land and		Land and
		Other		Other
	buildings		buildings
	£	£	£	£
Operating leases with expiry date:
*Pension commitments*
		2024		2023
		£		£
The pension cost charge to the charity
amounted to:		2,216		3,501

Page 10

Wilford Village Playgroup Statement of Cash flows

for the year ended 31 March 2024

Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments 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 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	2024 £ 33,656 (173,143) (139,487) 173,143 173,143 - 33,656 59,122 92,778	2023 £ 11,717 (148,145)
		(136,428) 148,145
		148,145

		-

		11,717
		47,405
		59,122

Components of cash and cash equivalents
Cash and bank balances	92,778	59,122

	92,778	59,122

Page 11

Wilford Village Playgroup Detailed Statement of Financial Activities

for the year ended 31 March 2024

Income and endowments from: Other Total income and endowments Expenditure on: Other expenditure Employee costs Salaries/wages Employer's NIC Pension costs Staff entertainment Staff recruitment Staff training Staff welfare Temporary staff Premises costs Rent Light, heat and power Premises cleaning Premises repairs and maintenance Other premises costs General administrative costs, including depreciation and amortisation Equipment expensed Equipment leasing and hire charges Equipment repairs and maintenance General insurances Postage and couriers Software, IT support and related costs Stationery and printing	Unrestricte d funds 2024 £ 173,143 173,143 173,143 2,021 2,021 105,502 5,161 2,216 577 13 1,237 1,355 150 116,211 7,842 91 2,207 54 - 10,194 1,298 - 127 815 - 120 350	2024 £ - - - - - - - - - - - - - - - - - - - - - - - - - - -	Total funds 2024 £ 173,143 173,143 173,143 2,021 2,021 105,502 5,161 2,216 577 13 1,237 1,355 150 116,211 7,842 91 2,207 54 - 10,194 1,298 - 127 815 - 120 350	Total funds 2023 £ 148,145
				148,145
				148,145 1,820
				1,820
				105,221 3,251 3,501 616 - 1,549 1,631 -
				115,769
				7,453 - 1,166 100 1,189
				9,908
				2,653 559 - 754 20 1,204 382

Page 12

Wilford Village Playgroup

Detailed Statement of Financial Activities

Subscriptions Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	148 2,162 3,858 8,878 2,147 236 2,383 139,687 139,687 - 33,456 33,456 200 33,656 56,105 89,761	- - - - - - - - - - - - - - 3,017 3,017	148 2,162 3,858 8,878 2,147 236 2,383 139,687 139,687 - 33,456 33,456 200 33,656 59,122 92,778	13 1,701 565
				7,851
				960 179
				1,139

				136,487
				136,487 -
				11,658
				11,658 59
				11,717
				47,405
				59,122

Page 13