BestAccountancy Providlng accountancy services in Plymouth for over 20 years. 12July2024 The Trustees Royal Naval Pre-school Le8rning Organisation Iwestern Area) Independent Examination for tha year ended 30Aprll 2024 1. The fund has been examin8d fortheyear ended 30Apr2024 and accounts prepared. A draft Trustees Annual Report ffAR) is also enclosed, although the activities section still requires completion. 2. Once agreed bythe trustees. PDF versions of the accounts and TAR can be provided by BestAccountancywhich can then be uploaded tothe Charity Commission website atthe same time as the annual return is completed. There is no requirement to upload this report. Reports and accounts onthe Charity Commission website are. of course, available for parents and the public at large to peruse. 3. The account present8d are accurate and supported bya comprehensive range of documentstion both physical and virtual. Cash is not held. 4. The RNSPLO received local authorlty Inltlalfundingfrom PCC and CCC forthe Summer Term inApril 2024. this has been determined to include two weeks of the SummerTerm within th8 reported on financlal year with the rem8inder of the initial funding being treated as a d8f8rred income forthe following year. 5. The investment held In a CCLA Charities Ethical Investment was worth £100.7K having gained £7.2k (7.1%} in market value overtheyear. It h8d earned £2.1K in dividends {2.1%}. 6. The trustees have not added to thi5 investmentthroughout the financialyearto April 2024 8nd we are unaware of anywishes to add to it in the future. at this point. HoVver, as the General Account has not been below £125Kthroughout this financial year it may be beneficialfor some of this amount to betransferred into the Investments in the next financial yearto take advantage of the higher returns. 7. Local authorityfunding has Increased by 22%to £310.7L 8. Income from parents has increased ty 1.70h to £212K. 9. Amounts received for Hot Meals in the Plympton, Radford. Goosewell and Wideweii settings for the year was £4.4K however there was a small loss of £450 overall. Dlrectorn: Mrjohn 8esL Mrs Angela best Lkensed arKI Re8ulated by the As50claUon of AccountITeChn1aft$ Compwry Number. (W7963 Unft 103. The Ape)L Derrilord Bu51ness Part Brest Road, Myrno PL6 5FL
BestAccountancy Providing accountancy services in Plymouth for over 20 year5. 10. Wages and associated cosls increased in year by9.8% to £380K. This includes the Redundance Payout of £2Ktothe previous in-housefinance team member. 11. There is also an increase in Agency Fees of 18.9%to £9K. 12. The PSLOfund was made up of four sub funds: a. The General Fund was Worth £ 206.4K. b. The Foundation Degree Fund Is 8 restrlcted fund and was worth £292. There has been no movement on thisfund in the financialyeartoApril 2024. c. The Groups, Fund (formerly Entertainments Fund) held £745. There has been no movement on this fund in thefinancialyearto Apri12024. This is a designated fund as the money belongs to the RNSPLO, but as it was achieved through fund-raising activities it must be ring-fenced forthe purpose that it was raised for. d. The Healthy Eating Fund. This is a designated fund as it is ringfenced lorthegarden projecl. It held £1 K atyear end. As a designated fund. thelrustees can. iftheywish. decide to absorb it into the main fijnd. Summary 13. Thefund was worth £206.7K having made an operatinggain of £3.4K plus a furthergain on investments of £7.2K. Banked assets of £184.8K easilycovered liabilities of£85.6Kwlth a further £100.7K held in the investment. Dlr•¢¢ors: Mrjohn M Mrsw Best Lkensed and Re8uJated ty the Assoclaiion of ACcountlTethnIans Unll 101 The hFU Derrlford Bts51ness Par arest Road, plYn PL6 5
ROYAL NAVAL PRE-SCHOOL LEARNING ORGANISATION IWESTERN AREA) TRUSTEESANNUAL REPORT Charity Registration no.: 1040329 Covering the Accounting Year: 1 May 2023 to 30 April 2024 Address: 1 Tiverton Close Widewell Plymouth PL6 7EN Governing Document: Constitution {adopted as on 7June 1994 as amended on 26 February 2006) Objective: To advance the development and education of preschool children and in furtherance of this objective. To provide a safe. healthy. happy and stimulating environmentto engenderthe development of children through play: To treat all children in a positive way and respectthem as unique individuals and allow them to develop at their own pace: To encour8ge parental involvement whenever possible, while leaving the choice to the individual adult," To provide a range of topics and activities to promote the development of each child's individual need through a planned curriculum forthe foundation stsge. Mr R Talbot (Chair) Mrs W Rees Mrj Reid Mrs Moulton Trustees: Trustees are selected by recommendation from existing trustees, inter4iew, and instruction and then proposed at the next Trustees meeting. Bankers: Nationalwestminster Bank 14 Old Town Street St Budeaux Plymouth PL11DG Independent Examiner: John Best MA4T BestAccountancy Services (Plymouthl Ltd Unit 103, The Apex Derriford Business Park Plymouth PL6 5FL
The fund was worth £206.7K having m8de an operating gain of £3.4K plus a further gain on investments of £7.2K. B8nked assets of £184.8K easily covered liabilities of £85.6K with further £100.7K held in the investment. The Trustees had placed £100K in the CCLA Charities Ethical Investment Fund to earn Income and benefit from market growth, although £50K was withdrawn in Feb 18 to help cash flow. The remaining units had reached a market value of £100.7K in Apr24, albeit after loslng a little of th8irv8lue overthe year. Dividend income was £2.1 K. The Trustees have considered th8 level of reserves they wish to retain appropriate to the charity's needs and these are held in the Investment. These needs include future building projects. The trustees aim to ensure that the charity will be able to continue to fulfil its charitsble objectives even if there Is a temporary shortfall in income e.g., adverse demographics in the area, unexpected expenditure or a pandemic. Reserves are generated by parental paid fees. as opposed to Government funding, which may only be utilised in accordance wlth Ofsted regulations. The Trustees actively reviewthe major risks that the charityf8ces on a regular basis. The m8jor riskwould be a radical change of policy by the Mlnistry of Defenc8. This has been assessed and is covered by the Service Level Agreement between the charity and the Ministry of Defence. Other risks centre on the change in numbers of children in the area 8nd competition from other preschool facilities, some government funded, in the area. The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so thatthe necessary steps can be taken to lessen these risks. Low levelVlfSre statistics are recorded and procedures are in place to record health and safety, safeguarding and risk factors. This fund provides public benefit by advancement of the education of pre-school children. I confirm that I have p8id due regard to the Charity Commission of England 8nd Wales's guidance on publlc benefit when deciding what activities the charlty should undertake. I declare in my capacity of charitytrustee, that . The trustees have approved the report above; and Have authorised me to sign it on their behalf. Trustee
RN PRE-SCHOOL LEARNSNG ORGANJSATION (WESTERN AREA BAiANCE SHEET at 30 April 2024 Fixed Assets Nots 2024 Computer Equipment lfjtchen Appliances Investment 1,745.00 222.46 £ 100,687.85 £ 2.990.00 £ 93.524.03 £ 102,655.31 £ 96,514.03 Current As80ts Debtors Bank Account £ 6,497. £ 184.841.31 £ 191.339.27 £ 2,368.00 £ 197,179.08 £ 199,547.08 Liabilities Cr&ditor8 £ 85.558.04 £ 99 421.42 Net CUnt Assets £ 105781.23 £ 100,125.66 Total Sets £ 208,436.S4 £ 196,639.69 Represented by.. General Fund Foundation re& (Restricted Fund) Heafthy Eating Fund (Des*Jnated) Groups IDe$ignat•d Fund) £ 206,412.49 291.75 987.08 745.22 £ 208.436.54 £ 194,615.64 291.75 987.08 745.22 £ 196,639.69
RN PRE4CHOOL LEARNING ORGANISATION IIVESTERN AREA)
STATEMENT OF HNANCIAL ACnVmES at 30 April 2024
In
L• Unr•8trletsd FndS R•8trlct8d FwM15
Yeor to
310.735.33 È
217,123.16 £
2,125.31 £
£ 310.735.33
£ 217,123.16
£ 2.125.31
£ 241.763.95
£ 218,799.47
£ 2,875.31
CharitsbfeActiviti
knvestmwt Incomt
Totsl IrKome
529,983.80 £
£ 529.983.80
£ 463.438.73
Raising FutKIs
Charitable tie•
28.19 £
528.546.44 £
26.19
£ 526.$48.44
917.10
£ 493.403.56
Tot81 Exkditrjre
S26,572.63 £
£ 526.572.63
£ 494.320.66
Net CyeratirrfJ ProfiVLo
3,411.17 £
£ 3,411.17
-£ 30.881.93
Garn51Losses on Investsnents
7.163.10 £
7.163.10
Ntrt Expenditu
10,574.27 t
£ 10,574.27
4 32.911.22
Totsl Flmds Brought Forward
195.838.22 £
291.75 £ 198,129.97
£ 229,550.91
Total Funds Carried Fcyward
208.412.49 £
291.75 £ 206,704.24
£ 196,639.89
Not• 1- Accountln
Theffin3Thc1 statémtntsare Pfepared under the histwictost conventkn las MYIfied by the revaluatlon of fixed assetln¥estrnentsl
and in acrdanCe apIcable accOntIngSdardS.
chare5statement of Rècommènded Practiet efftttive 2019 and the ky0$bon$ of the Cho1[e$A¢ts. $18nlflcant pollcles >Yopted are..
Incomlng Resources
Donatlons are Induded in the Statement of Flnandal ActItIeS ISOFAI whenthefvnd becomes etled tothe don0 or yant ènd
it is reasonably ¢ert*n thèt itwill be ¢eNed.
IrmIng iesourtrs from lundralslngare reported 8ross In theSOFA
Int81b)e Inci¥ne Is Dot Incle in the accounts
The receives no nlVolunteer helpt alth&h staff members mèy occasfjonalty work wlthout paywhtn triallin8 newschemes
ExpEnditure and lItie$are reco8nised as soon as there isa legal u constructlveobllgatfjon commlttln8 thefund to the expendfture
Assets- Tanwble ¥ssets•re ¢•pi1o1ised if thty
RN PRE4CHOOL LEARNING ORGANISATION (WESTERN AREA) S- Tan Ibl FIX ComwtsEqUipmrt at 30 Apr 23 £ 4,235.C 2.490.00 1,745.00 Kltcli Applwnw at 30 Apr 23 Oepwabon Kiiehan ApFthan 0130 Apr 24 £ 444.93 -£ 222.47 £ 222.46 Comwter EquIp¥nt at 30 Asy 24 - Intan ble Assets Th8 offi¢e 8nd ptrschxjl venues are kyowdad bythè Ministry of Defwhce eXdge forwovk11ng pr¢-$LtsJl seThke to the naval Lvnmunity 7.PaldEm Chanty has paid employaès, Numbers reduced aTrJ e at 28 at 8ntJ. All ww¢ ompbyed dlrecdy cn the charws oti*bves. NOrt paid in excess of £60,000 In thls yeor or la$l. staff w¢0$($ ¥4tre £427,e25 (pOu year £418,$631 EmFAW$ Nats'onal In$uTrnce costB We £17,162 IpmwtrJ$ yg¥£15,868) ot•8-Tntst•• and OthÈr Related Partles No expenw fx w¢4uments h8ve beEn pald to t Tn The no amtxnts due to cf from thè TnJst•es 8nts Prepaymenl Card Prepayrnents 449.14 6,048.82 £ 8,497.98 10- Cr•diiorn and AccnJal8 Tradè Crèditors Creditcar Per)sKm5 P8y¥We PAYE Payable 908.55 31.90 1.871.44 £ 3,8OZ27 £ 78,847.48 596.40 £ 85.558.04 Accruals
RN PRE.SCHOOL LEARNING ORGANISATION IbYESTERN AREA) 4- Ex •ndlturn R•l8lng Funds 28.19 Pi:, 917.10 Charitable ActSvltSgS Op•rntlng Costs". Wage$ 8 N8lkN)al Insurance Pen&0 Agancy Stsff Registration & S¢Jbscripts'ons D8S Checks Water Hot K4&al C8t8rlng Domèsti¢ Towel& Glove$ &tc W8St6 Blns EquireThI Repairs & Renls, Gr8ss¢u¢tlng Healthy EatitvJ Project Goosewell S¢hoc4 (Renl & Rat•81 St¢rage Insurancè Entert¥irftt (Grwps Fund) Gwt Funded Expendilure DAF Costs TrainiThJ Clas00M RescMJrcs Mis¢ Expen8es Govem•n¢e ¢08t8: Indpendenl Examination Fees & AcLountancy Professional kni 8pport Costs: 4Jministratlon Wages PensicS R8dundan¢y Pa¢kage SagalSoftwar Print, P08L StstKThry Tr8vdllrtrg Expense¥ Telephonellnternet Untform Bank Charges Gifts & Flowers Dep181JC £ 373,216.13 6,914.65 9,104.36 4,849.02 323.20 1,845.30 6,559.12 2.988.43 236.97 1.1%.75 378.95 2.625 19 £ 337,706.01 5.C5.16 7,385.59 £ 10,147.24 597.20 1,773.58 9.271.88 2,369.37 4,981.87 650.79 2,232.68 3.531.15 24.50 1,4C*.95 3,445.53 633.22 2,130.82 183.00 2,015.28 2.074.74 103 62 1,346.71 892.00 5,574.12 1,671.22 540.34 6,578.40 1.404.C¥) 650.00 £ 71,570.46 1,342.90 £ 67,000.70 f,2e6.70 £ 13.857.02 4,158.84 3.556.29 1,435.96 6,864.31 655.72 188.20 280.22 7.245.00 3,390.00 2,226.11 1.586.83 9.660.47 260 24 642.30 1.467.47
RN PRE4CHOOL LEARNING ORGANISATION IWESTERN AREA) Note 2 - Inv•stm•nts CCLA Charities Ethul lTrveBlmgnt Golnlo8s In Mark•t Value £ 93,524.03 at 30 Apr 23 7,163.10 £ 100 687.13 at 30 Apr 24 Unrnstricted Funds Note 3- Jncom• 2024 2023 Grnnts.. Eorty Year Grant5 Trnlnlng Grants Other Grnnts £ 309,885.33 £ 241,563.95 200.00 £ 310,735.33 £ 241,763.95 Charltsbl• A1VItI8•. F4aygtDup Fees Hot Meals En11nrn8nt {Group5 Fund51 Unifomi Contritwtion8 £ 212.240.96 4.382.20 £ 208.530.86 9.801.16 207.95 259.50 5W.00 £ 217,123.16 £ 218,799.47 Inve8trnent In¢MI•'. Diwdend 2 125,31 2.875.31 T¢)tal Income £ 529,983.80 £ 463.438.73