Trustees. Annual Report for the period Period start date Period end dale From To Section A Reference and administration details Charity name:. Sunny Corner Pre School Other names charity is known by Sunny Corner Children's Centre Registered charity number (if any) 1039880 Charity's principal address Chynoweth lane. St Hilary ' Penzan .. Cornwall Postcode TR20 9DR Names of the charity trustees who manage the charity Dates acted if not for whole ear Trustee name Office lif any) Name of person lor body) entitled toa oint trustee ifan Christine Foulds Chairperson Treasurer 13110116 - ongoing 13110116 - ongoing 17110119 - ongoing 17110119 - ongoing 17110119 - ongoing 17110119 - ongoing 17110119 - ongoing 18110118- ongoing Members Rachel Richards Members Samantha Strick Secretary Deputy Chairperson MemDer Members Lauren Ladd Members Laura Hodges Izabela Cholaj Ewa Hoyland Keena Mason Members Member Members Member Members Member Members Names of the trustees for the charity, if any, (for example. any custodian trustees) Name Dates acted if not for whole ear Names and addresses of advisers (Optional infomation) e of adviser Name Address Name of chief executive or names of senior staff members (Optional infomiationl Manager-, Ms Jane Patching until April 2020. Marie Butts from April 2020 TAR March 2012
..Sec.tion B ..Structure, overnance. and.mana Description of the charity's trusts Pre-school Leaming Allian Constitution Type of goveming document How the charity is constituted Association Trustee selection methods Elected by parent body at AGM Additional governance issues (Optional infomiation) You may choose to include additional information, where relevant, about.. policies and procedures adopted for the induction and training of trustees- the charily s organisational structure and any wider network with which the charity relationship with any related parties., trustees, consideration of major risks and the system and procedures to manage them. Section C Ob ectives and activities To enhan the development and education of children under the statutory school age and to provide quality childcare for children age 2-5 years old. To support and advice parentslcarers. Sumrnary ofthe objects of the charity set out in its governing document TAR March 2012
- Pre-school education for 3 and 4 year olds.
- ChildGare Tor 2-5 year olds.
- Support and advice for parenucarers Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit) Additional details of objectives and activities (Optional infonnation) You may choose to include further statements, where relevant, about.. policy on grantmaking., policy programme related investment., contribution made by volunteers. TAR March 2012
Section D Achievements and performance Summary of the main achievements of the charity during the year We continued to develop our implication of the EYFS providing high quality care and education for all children. From March 2020 Practi was impacted by Coronavirus as the country went into lockdown. however. we did still receive government funding for the summer term. We were still open during the lockdown to provide essential care for the children of key workers and vulnerable children. Fundraising didn't happen dunng 2020 as coronavirus prevented us from holding events. I We continued to deliver good quality transition procedures for children I leaving us to start primary school and reports from parentslcarers were i all very positive with children settling well into their new classrooms. Although we Gouldn't cary out our usual visits due to coronavirus. We continued to implement our buildings improvement plan which will ensure our prefab buildings are properly maintained. Section E Financial review The Charity maintains a contingency reserve to cover any unforeseen expenses or unexpected reductions in funding_ This designated reserve currently stands at £35.000. and it is the policy of the trustees to add to this when circumstances allow. The aim of the trustees is to hold unrestricted net current assets sufficient to meet six months, expenditure. At the balan sheet date unrestricted net current assets, including the contin enc fund, amounted to £102,679. which meets the trustees aim. Brief statement of the charity's policy on reserves Details of any funds materially in deficit No funds were materially in deficit. Further financial review details (Optional inforniation} You may choose to include additional information, where relevant about.. the charity's principa sources of funds (including any fLJndraisingl', how expenditure has supported the key objectives I of the charity-, investment policy and objectives including any ethical investment policy adopted. TAR March 2012
Section F Other optional information Section G Declaration The trustees declare that they have approved the trustees. report above. Signed on behalf of the charity's trustees Signaturels) Full name(s) Position (eg SeGretary. Chair. etc) CXi&flJVe ckn, LDS Date OS.02. ZDLI TAR March 2012
SUNNY CORNER PRE-SCHOOL
ACCOUNTS
FOR THE YEAR TO 31ST AUGUST 2020
JOHN C WATTS F.M.A.A.T. (Fellow Member of the Association of Accounting Technicians) ACCOUNTANCY SERVICES
2 Runnelstone Cottages, Polgigga, St Levan, PENZANCE, Cornwall TR19 6LU Tel: 01736 871408
SUNNY CORNER PRE-SCHOOL
YEAR ENDED 31ST AUGUST 2020
STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account)
| INCOME FROM Charitable activities Fees Local authority funding Other income Other trading activities Fundraising Investments Bank interest TOTAL INCOME EXPENDITURE ON Raising funds Charitable activities Other - governance costs TOTAL EXPENDITURE NET INCOME (EXPENDITURE) Transfers between funds Net income from the year and movement in funds Reconciliation of funds Total Funds Brought Forward Total Funds carried forward |
Notes 2 3 |
Unrestricted Funds 5,048 76,571 - |
Restricted Funds |
Total Funds 2020 5,048 76,571 - 81,619 135 327 82,081 55 79,551 1,386 80,992 1,089 - 1,089 148,069 149,158 £ |
Total Funds 2019 |
|---|---|---|---|---|---|
| 10,784 64,523 10 |
|||||
| 81,619 | - | 75,317 | |||
| 135 327 |
697 341 |
||||
| 82,081 | - | 76,355 | |||
| 55 79,551 1,386 |
70 70,123 912 |
||||
| 80,992 | - | 71,105 | |||
| 1,089 | - | 5,250 - |
|||
| 1,089 148,069 |
- - |
5,250 142,819 |
|||
| 149,158 £ |
- £ |
148,069 £ |
The Notes on the following pages form part of these financial statements
page 1
SUNNY CORNER PRE-SCHOOL
YEAR ENDED 31ST AUGUST 2020
BALANCE SHEET AS AT 31ST AUGUST 2020
| Note FIXED ASSETS Tangible Assets 9 CURRENT ASSETS Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 NET CURRENT ASSETS NET ASSETS INCOME FUNDS Unrestricted Funds General Fund 12 Designated Fund 13 Restricted Funds TOTAL FUNDS |
2020 46,479 102,679 149,158 £ 114,158 35,000 - 149,158 £ |
2019 | ||
|---|---|---|---|---|
| 686 115,869 |
677 100,430 |
47,900 100,169 |
||
| 116,555 13,876 |
101,107 938 |
|||
| 148,069 £ |
||||
| 113,069 35,000 - |
||||
| 148,069 £ |
These financial statements were approved on 8th October 2020 by Rachel Richards on behalf of the Trustees
The Notes on the following pages form part of these financial statements
page 2
SUNNY CORNER PRE-SCHOOL
0
YEAR ENDED 31ST AUGUST 2020
STATEMENT OF CASH FLOWS
| Cash flows from operating activities Net cash provided by operating activities Cash flows from investment activities Interest Purchase of fixed assets Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period Reconciliation of net income to net cash flow from operating activities: Net income from SOFA Depreciation charges Interest received Decrease (increase) in debtors (Decrease) increase in creditors Net cash provided by operating activities |
Total Funds 2020 16,622 327 (1,510) (1,183) 15,439 100,430 115,869 £ 1,089 2,931 (327) (9) 12,938 16,622 £ |
Total Funds 2019 |
|---|---|---|
| 7,164 | ||
| 341 - |
||
| 341 | ||
| 7,505 92,925 |
||
| 100,430 £ |
||
| 5,250 2,840 (341) 146 (731) |
||
| 7,164 £ |
page 3
SUNNY CORNER PRE-SCHOOL
0
YEAR ENDED 31ST AUGUST 2020
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
- Accounting Policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice - Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland.
Sunny Corner Pre-School 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.
Going concern
The financial statements have been prepared on a going concern basis.
There are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern.
Income and endowments
Voluntary income, including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the Charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Grants receivable
Grants are recognised when the Charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Donated services and facilities
In accordance with the Charities SORP (FRS 102), the time provided by general volunteers is not recognised.
Investment income
Investment income is recognised on a receivable basis.
page 4
SUNNY CORNER PRE-SCHOOL
YEAR ENDED 31ST AUGUST 2020
0
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
- Accounting Policies (continued)
Charitable activities
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.
Other income
Material incoming resources from tax reclaims are included in the statement of financial activities at the same time as the gift to which they relate.
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 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.
Raising funds
Costs of generating funds are the costs associated with attracting voluntary income.
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 staff costs by the time spent and other costs by their usage.
Governance costs
Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.
Irrecoverable VAT
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
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 charity 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.
Tangible Fixed Assets
Individual fixed assets costing £100 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
page 5
SUNNY CORNER PRE-SCHOOL
0
YEAR ENDED 31ST AUGUST 2020
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
1. Accounting Policies (continued)
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Furniture and equipment Computers and motor vehicles Leasehold buildings
Depreciation method and rate
20% per annum on a reducing balance basis 25% per annum on a reducing balance basis 5% per annum on a reducing balance basis
Cash at bank and in hand
Cash at bank and in hand includes cash and 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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund accounting
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the Charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Financial instruments
Classification
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Recognition and measurement
Basic financial assets and liabilities are initially measured at transaction price (including transaction costs) and subsequently measured at their settlement value.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amount and the Charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the Charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the Charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled, or expires.
page 6
SUNNY CORNER PRE-SCHOOL
YEAR ENDED 31ST AUGUST 2020
NOTES FORMING PART OF THE FINANCIAL STATEMENTS (Continued)
| 2. Charitable Activities Day care 2-11 years: Salaries Premises costs Toys and equipment Refreshments and consumables Telephone and stationery Sundries Support costs (note 4) 3. Total expenditure Costs of raising funds Charitable activities (note 2) Other - governance costs 4. Analysis of Support Costs Costs of fundraising Charitable activities Other - governance costs (note 5) 5. Analysis of Governance Costs Salaries Annual accounts preparation 6. Net movement in funds This is stated after charging - Depreciation |
Unrestricted Funds 43,839 8,067 778 15 1,159 608 25,085 £ 79,551 Activities Undertaken Directly 54,466 £ 54,466 Management and Finance staff 16,695 459 £ 17,154 Unrestricted Funds 459 927 £ 1,386 |
Restricted Funds - Support costs (Note 4) 55 25,085 1,386 £ 26,526 Property costs 4,543 £ 4,543 Restricted Funds - |
TOTAL FUNDS 2020 43,839 8,067 778 15 1,159 608 25,085 £ 79,551 TOTAL 2020 55 79,551 1,386 £ 80,992 Other costs 55 3,847 927 £ 4,829 TOTAL FUNDS 2020 459 927 £ 1,386 2020 £ 2,931 |
TOTAL FUNDS 2019 |
|---|---|---|---|---|
| 39,786 8,013 1,214 - 1,352 612 19,146 |
||||
| £ 70,123 | ||||
| TOTAL 2019 | ||||
| 70 70,123 912 |
||||
| £ 71,105 | ||||
| Total | ||||
| 55 25,085 1,386 |
||||
| £ 26,526 | ||||
| TOTAL FUNDS 2019 |
||||
| 342 570 |
||||
| £ 912 | ||||
| 2019 | ||||
| £ 2,840 |
page 7
SUNNY CORNER PRE-SCHOOL
YEAR ENDED 31ST AUGUST 2020
NOTES FORMING PART OF THE FINANCIAL STATEMENTS (Continued)
| 7. Staff costs Gross wages and salaries Employer's National Insurance Employer's pension contributions No employee received emoluments of more than £50,000. Four employees are accruing benefits under a money purchase pension scheme. The average number of full time employees, analysed by function, was Activities to further the charity's objects Management and administration |
2020 59,550 1,443 £ 60,993 2020 4 1 5 |
2019 |
|---|---|---|
| 52,315 - 870 |
||
| £ 53,185 | ||
| 2019 | ||
| 4 1 |
||
| 5 |
8. Trustee Remuneration and Related Party Transactions
No trustee received remuneration or expenses during the year.
9. Tangible Fixed Assets
| ngible Fixed Assets | ||||
|---|---|---|---|---|
| Cost At 1st September 2019 Additions in year At 31st August 2020 Depreciation At 1st September 2019 Charge for the year At 31st August 2020 Net Book Value At 31st August 2020 At 31st August 2019 |
Furniture & Equipment 13,907 1,510 15,417 13,128 457 13,585 1,832 £ |
Computers & software 5,816 5,816 5,228 147 5,375 441 £ |
Buildings 96,457 96,457 49,924 2,327 52,251 44,206 £ |
Total |
| 116,180 1,510 |
||||
| 117,690 | ||||
| 68,280 2,931 |
||||
| 71,211 | ||||
| 46,479 £ |
||||
| 779 £ |
588 £ |
46,533 £ |
47,900 £ |
page 8
SUNNY CORNER PRE-SCHOOL
YEAR ENDED 31ST AUGUST 2020
NOTES FORMING PART OF THE FINANCIAL STATEMENTS (Continued)
| 10. Debtors Operational Debtors Prepayments 11. Creditors: Amounts falling due within one year Operational creditors Social security and other taxes Accruals Income received in advance |
2020 - 686 686 £ 2020 97 323 830 12,626 13,876 £ |
2019 |
|---|---|---|
| - 677 |
||
| 677 £ |
||
| 2019 | ||
| 75 238 625 - |
||
| 938 £ |
12. Unrestricted Funds of the Charity
| Balance at 1st September 2019 Movement in Funds for the Year Balance at 31st August 2020 13. Designated funds Contingency reserve |
Contingency Fund 35,000 35,000 £ 35,000 £ Balance at 01/09/19 |
General Fund 113,069 1,089 114,158 £ - £ Transferred in theyear |
Total 2020 148,069 1,089 149,158 £ 35,000 £ Balance at 31/08/20 |
Total 2019 |
|---|---|---|---|---|
| 142,819 5,250 |
||||
| 148,069 £ |
||||
The contingency reserve is a fund to meet unexpected contingencies should they arise.
14. Analysis of Net Assets between Total Funds
| General Fund Designated Funds Restricted Funds |
Net Current Assets 67,679 35,000 102,679 £ |
Fixed Assets 46,479 - 46,479 £ |
Total 2019 114,158 35,000 - 149,158 £ |
Total 2019 |
|---|---|---|---|---|
| 113,069 35,000 - |
||||
| 148,069 £ |
page 9
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examinerfs Report Report to the trusteesj members of Sunny Comer Pre School On accounts for the year ended 31. August 2020 Charity no (if any) 1039880 Set out on pages 2to9 I report to the trustees on my examination of the accounts of the above harity for the year ended 3110812020 Responsibilities and basis of report As the chariws 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 Trusys accounts carried out under section 145 ofthe 2011 Act and in carying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145{5){b) of the Act. Independent I have completed my examination. I confirm that no material matters hav8 examiner's statement come to my attention in connection wtth the examination which give me cause to believe that in, any material respect- the accounting records were not kept in accordance with section 130 of the Chartties Act," or the accounts did not accord with the accounting records- or the accounts did not comply wtth the applicable requirements Conrning the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ttrue and faif view which is not a matter considered as part of an independent examination. I have no GOnmS and have Gome across no other matters in connection wrth the examination to which attention should be drawn in this report in order to enable a proper understanding of the aGGounts lo be reaGhed. Signed: Date: Name: John C Watts Relevant professional qualification{s) or body (if any): | Fellow Member of the Association of Accounting Technicians Address: 2 Runnelstone Cottages, St Levan. PenZan. Comwall TR19 6LU IER Oct 2018