Charity registration number.. 1039880 Sunny Corner Pre-school Annual Report and Accounts for the Year Ended 31 August 2024 Sunny Corner Pre-school Contents Reference and Administratlve Details Independent Examlner's Report statement of Financial Activities Balance Sheet Notes to the Financial Statements 5t012 Sunny Corner Pre-school Reference and Administrative Details Charity Registration Number 1039880 Registered Office Chynoweth Lane st Hilary PENZANCE TR20 9DR Independent Examiner Crane & Johnston C&J Ltd Chartered Certified Accountsnts 11 Alverton Terrace PENZANCE Cornwall TR18 41H Page I Sunny Corner Pre-school Independent Examiner's Report to the trustees of Sunny Corner Pre- School ('the Charity,) I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 August 2024. Responsibilities and basis of report As the charity's trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act,). Having satisfied myself that the accounts of the Charty are not required to be audited, I report in respert of my examination of your charity's accounts as carried out under settion 145 of the Charities Act 2011 Cthe 2011 Act). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: l. accounting records were not kept in respect of Sunny Corner Pre-school as required by 130 of the 2011 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 artivities set out in the charities (accounts and reports) regulations 2008 Act other than any requirement that the accounts give a 'true and fair wew, which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection wtth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mr N Hallam FCCA Crane & Johnston Chartered Certified Accountants 11 Alverton Terrace PENZANCE Cornwall TR18 4JH Date: ioth March 2025 Page 2 Sunny Corner Pre-school Statement of Financial Activities for the Year Ended 31 August 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Total 2024 Total 2023 Unrestricted Note Income and Endowments from: Charitable activities Other trading activities Investment income 98,184 1,295 721 98,184 1,295 721 66,272 705 337 Total income 100 200 100 200 Expenditure on. Charitable activities 101,001) . 101001 Total expenditure ioi,ooi ioi 001 Net expenditure 801 Net movement in funds (801) (801) (13,297) Reconciliation of funds Total funds brought forward 148 326 148 326 161623 Total funds carried forward 12 147 525 147 525 148 326 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 12. The notes on pages 5 to 12 form an integral part of these financial statements. Page 3 Sunny Corner Pre-school (Registration number: 1039880) Balance Sheet as at 31 August 2024 2024 2023 Note Fixed assets Tangible assets 36,895 39,025 Current assets Debtors Cash at bank and in hand 10 1,953 110 313 112,266 1,081 109 475 110,556 Creditors: Amounts falling due within one year 11 Net current assets 110 630 109,301 Net assets 147 525 148,326 Funds of the charity: Unrestricted income funds Unrestricted funds 147 525 148,326 Total funds 12 147 525 148 326 The financi31 statements on pages 3 to 12 were approved by the trustees, and authorised for issue on 4th March 2025 and signed on their behalf by: Rachel Richards Trustee Lury Watls Triistee The notes on pages 5 to 12 form an integral part of these financial statements. Page 4 Sunny Corner Pre-school Notes to the Financial Statements for the Year Ended 31 August 2024 l 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. 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Basis of preparation 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 trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. Income and endowments Voluntary income, including donations, gifts, legaaes and grants that provide the 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 andlegacies Donations and legacies are recognised on a receivable basis when reciept 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, Donatedservices and facilities In accordance with the Charities SORP (FRS 102), the time provided by general volunteers is not recognised. Page 5 Sunny Corner Pre-school Notes to the Financial Statements for the Year Ended 31 August 2024 Charitable activitses Income from charitable activities includes income recognised as earned (as the related good5 or services are provided) under contratt. other income Material incoming resources from tax claims are included in the Statement of Financial Actimties 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 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. 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 attivity 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. Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 nd 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. Page 6 Sunny Corner Pre-school Notes to the Financial Statements for the Year Ended 31 August 2024 Tangible fixed assets Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: Individual fixed assets costing £100 or more are capitslised at cost. 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 Depreciation method and rate 200/0 per annum on a reducing balance basis 250/0 per annum on a reducing balance basis 5 % per annum on a reducing balance basis Furniture and equipment Computers Leasehold buildings 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. 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 I￿e1ve 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 structure 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 funds are subject to specific conditions by donors and grant making bodies as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts. Page 7 Sunny Corner Pre-school Notes to the Financial Statements for the Year Ended 31 August 2024 Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 2 Income from charitable activities Unrestricted funds General Total 2024 Total 2023 Local authority funding Fees Other income 87,846 10,112 226 87,846 10,112 226 60,231 6,021 20 3 Income from other trading activities Unrestricted funds General Total funds Total 2023 Fundraising 1,295 1,295 705 705 1,295 4 Investment income Unrestricted funds General Total 2024 Total 2023 Interest receivable and similar income. Bank interest 721 721 337 Page 8 Sunny Corner Pre-school Notes to the Financial Statements for the Year Ended 31 August 2024 5 Expenditure on charitable activities Unrestricted funds General Day care 2-5 years: Total 2024 Total 2023 Note Salarles Premises costs Toys and equipment Telephone and stationery Sundries Allocated support costs Governance costs 60,741 11,211 2,752 452 1,082 23,299 60,741 11,211 2,752 452 1,082 23,299 1,464 45,257 9,096 1,561 826 946 21,530 ioi,ooi ioi ooi 80,611 6 Analysis of governance and support costs Charitable activities 2024 2023 Note Management and finance staff Property costs other costs 15,054 4,912 3,333 14,464 4,112 2,954 Governance costs 2024 2023 Note Salaries Independent examination and accounts 414 397 998 1,395 Page 9 Sunny Corner Pre-school Notes to the Financial Statements for the Year Ended 31 August 2024 7 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. 8 Staff costs The aggregate payroll costs were a5 follows: 2024 2023 Note Wages and salaries Pension costs 74,866 58,960 76,209 No employee received emoluments of more than £60,000 during the year. The average number of full time employees, analysed by function, was 2024 Number 2023 Number Note Activities to further the charity's objects Management and administration 9 Tangible fixed assets Land and buildings Furniture and equipment Total Cost At I September 2023 117 690 At 31 August 2024 117 690 Depreciation At I September 2023 Charge for the year 58,556 20,109 235 78,665 At 31 August 2024 80,795 Net book value At 31 August 2024 889 36,895 At 31 August 2023 Page 10 Sunny Corner Pre-school Notes to the Financial Statements for the Year Ended 31 August 2024 10 Debtors 2024 2023 Trade debtors Prepayments 881 1,072 40 Ilcreditors: amounts falling due within one year 2024 2023 Other taxation and social security Other creditors Accruals 316 270 225 12 Funds Balance at I September 2023 Incoming resources Resources expended Balance at 31 August 2024 Unrestricted funds General 113,326 100,200 (101,001) 112,525 Designated funds Contingency reserve Total funds 148 326 Balance at i September 2022 100 200 ioi 001 147 525 Incoming resources Resources expended Balance at 31 August 2023 Unrestricted funds General 126,623 67,314 (80,611) 113,326 Designated funds Contingency reserve Total funds 161623 The contingency reserve is a fund to meet unexpected expenses should they arise. 148 326 Page 11 Sunny Corner Pre-school Notes to the Financial Statements for the Year Ended 31 August 2024 13 Analysis of net assets between funds Unrestricted Total funds at funds 31 August General 2024 Tangible fixed assets Current assets Current liabilities 36,895 112,266 36,895 112,266 Total net assets 147,525 147 525 Unrestricted Total funds at funds 31 August General 2023 Tangible fixed assets Current assets Current liabilities 39,025 110,556 1,255 39,025 110,556 Total net assets 148 326 148 326 Page 12 Trustees, Annual Report for the period Period start date Period end date 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 Penzance Cornwall Postcode TR20 9DR Names of the charity trustees who manage the charity Dates acted if not for whole ear Name of person lor body) entitled toa oint trustee ifan Trustee naine Office lif any) Lucy Watts Rachel Richards Chairperson Treasurer 0211212021 Members 13110116- ongoing 0211212021 Members Alexandra Uren Secretary Members Amber Kliskey Gillian Petley-Jones Member 30-11-22 Mernber ier Me 30-11-2022 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 information) e of adviser Name Address Name of chief executlve or names of senior staff members (Optional information) Manager.. Marie Butts TARI Section B Structure, overnance and mana ement Description of the charity's trusts Pre-school Learning Alliance Constitution Type of governing document How the charity is constituted Association Trustee selection methods Elected by parent body at AGM Additional governance issues (Optional information) You may ch005e to include additional information, where relevant, about: policies and procedures adopted for the induction and training of trustees. the charity's organisational structure and any wider network with which the charity works, 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 enhance the development and education of children under the statutory school age and to provide quality childcare for children aged 2-4 years old. To ensure children make excellent progress in all areas of development. To offer support and signpost parentslcarers to various agencies as appropriate. Summary of the objects of the charity set out in its governing document TAR2 1. Pre-school education for 3 2nd 4 year olds. 2. Childcare for 24 year olds. 3. Support and advice for parenvcarers Summary ofthe main activities undertaken for the public benefit Trn relation to these objects (include within this section the ststutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit) Additional details of objectives and activities (Optional information You may ch005e to include further statements, where relevant, about.. policy on grant making; policy programme related investment,. contribution made by volunteers. TAR3 Section D Achievements and perfomiance Summary ofthe 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. We held several fundraising events throughout the year, which included a sponsored toddle, raffles and our summer sports day. Fundraising was spent on equipment for the children, we purchased several items including a new climbing dome and a caterpillar tunnel for the garden area. We continued to deliver good quality transition procedures for children leaving us to start primary school and reports from parentslcarers were all very positive with children settling well into their new classrooms. The children were able to visit the school and use their library and visit their classroom. The reception teacher was able to visit the children. We continued to implement our buildings improvement plan which will ensure our prefab buildings are properly maintained, we replaced all the fIooring in the main classroom and entrance hall. We replaced two water heaters, a radiator and external fences around the garden were painted, as well as repairs made to one of the pergolas. 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 balance sheet date unrestricted net current assets, including the contin enc fund. amounted to £112,525, 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 information) TAR4 You may choose to include additional information, where relevant about.. the charity's principal sources of funds (including any fundraising)., how expenditure has supported the key objectives of the charity., investment policy and objectives including any ethical investment policy adopted. Section F Other optional information Section G Declaration The trustees declare that they have approved the tru5tees' report above. Signed on behalf of the charity's trustees Signature(s) Full name(s) Position (eg Secretary, Chair, etc) ￿AC￿E￿ f4ci+FIRW . Date TAR5