2023-12-31-accounts - Old Windsor Pre-School

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OLD WINDSOR PRE-SCHOOL

Registered Charity No 1040764

Financial Statements

For the year ended 31 December 2023

OLD WINDSOR PRE-SCHOOL Trustees Report and Financial statements for the year ended 31 December 2023

Contents	Pages
Legal and Administrative Information	1
Trustees’ Report	2-3
Independent examiners report	4
Statement of Financial Activities	5
Balance Sheet	6
Notes to the financial statements	7-8

OLD WINDSOR PRE-SCHOOL Directors, officers and advisers

Trustees

Michael Bourne (Chairperson) Laurel Rolfe (Secretary – joined May 2023) Mandy Forster (Treasurer) Simon Baker Liam Kyley Noor Al Ani Deepa Amin Susana Ferreira

Registered number

Registered Charity 1040764

Principal Place of Business

Memorial Hall Straight Road Old Windsor Berks SL4 2RN

Independent Examiner

Colin Bristow FCCA Lakeview Accountancy Ltd 63, Clifton Rise Windsor SL4 5SX

Bankers

HSBC Bank plc 128 High Street Slough Berks SL1 1JF

OLD WINDSOR PRE-SCHOOL Trustees’ Report for the year ended 31 December 2023

The Trustees have pleasure in presenting their report and financial statements of the Registered Charity Old Windsor Pre-School for the year ended 31 December 2023.

RELATIONSHIPS

Old Windsor Pre-School is a member of the Early Years Alliance and operates under their model PreSchool Constitution 2005.

AIM

The aim of the Pre-School is to enhance the development and education of children under statutory school age by:

a) offering a safe, play-based environment in which all children will thrive, regardless of race, culture, religion or means
b) helping children to develop a range of skills and qualities including social skills, independence, literacy and numeracy
c) investing in staff training and by emphasising the central role of parental involvement
d) promoting an ethos that puts the Pre-School at the centre of its local community

We aim to foster the development of confident, caring and responsible children, equipped to manage successfully the transition to primary school.

REVIEW OF 2023

In 2023 the Pre-School has continued to meet its aims successfully due to the skill of the dedicated staff team who continue to provide high-quality early years education and nurture to its children.
Without question it is the staff that are our greatest asset, and we have benefited enormously from Emily Wade’s leadership, her having taken over in 2023 as Supervisor. She brings great energy and drive to her role, and has worked very hard to develop the Pre-School, to build the staff team and to update the Pre-School website, amongst other achievements.
Over the course of 2023 she has been ably supported by Harpreet Badesha, Jessica Attree, Clare Gabriel, and more recently Erin O’Connell and Hannah Chand.
The presence of the Pre-school at the Old Windsor Carnival was a particular highlight. The Preschool demonstrated fantastic creativity with their Queen Bee float, yet again an award-winning entry, taking away a well-deserved trophy as runner up. The Pre-school also staged a very successful Christmas Fayre, raising much needed funds and continuing to raise the profile of the Preschool in the village.
Ensuring that the Preschool remains financially sustainable has been a significant challenge, given lower pupil numbers and increased hall hire charges. It is a challenge the trustees feel confident to meet and an action plan is in place.
The Pre-School thanks its many volunteers. We would also like to thank Helen Clarke for her support, advice and her ongoing efficiency in administering the payroll.

OLD WINDSOR PRE-SCHOOL Trustees’ Report for the year ended 31 December 2023

PLANS MOVING FORWARD

To maintain the high profile of the Pre-School within the immediate community, as well as neighbouring villages, to ensure continued healthy pupil numbers.
To put renewed focus on ensuring the long-term financial sustainability of the Pre-School. This will include raising our income e.g. through a termly charge to parents, through increasing the pupil roll and through raising the profile of fund-raising. It will also include cutting costs, including reducing hall hire costs.
To finalise a move to excellent accommodation at King’s Court School
To develop the staff team, providing further Early Years training for staff members, as well as more general training such as First Aid etc.
To ensure that all documentation required of the Pre-School including Ofsted suitability checks is up to date.

Members of the Management Committee work in partnership with members of staff, parents and volunteers to make the Pre-School a highly successful community organisation. I would like to pay tribute to all of the above for their commitment and efforts over the years.

Signed on behalf of the Board

M.T. Bourne Chairperson

Approved by the Board on 1 May 2024

The trustees for the year 2023 were:

Michael Bourne (Chairperson) Laurel Rolfe (Secretary – joined May 2023) Mandy Forster (Treasurer) Simon Baker Liam Kyley Noor Al Ani Deepa Amin Susana Ferreira

OLD WINDSOR PRE-SCHOOL Trustees’ Report for the year ended 31 December 2023

_______________

Independent Examiner’s Report to the Trustees of Old Windsor Pre-School

I report on the financial statements of the Charity for the year ended 31 December 2023 which are set out on pages 5 to 8.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the financial statements. You consider than an audit is not required for this year (under section 145 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

a) Examine the accounts under section 145 of the 2011 Act
b) To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
c) To state whether particular matters have come to our attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently, no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

Following on from my work last year, more effort was spent on analytical review and reconciliations, with limited checking of supporting paperwork. This revealed consistency with previous years which gave a level of confidence that the accounting records were accurate.

In connection with the examination, no matter has come to my attention:

Which gives me reasonable cause to believe that in any material respect the requirements
to keep accounting records in accordance with Section 130 of the 2011 Act; and
to prepare financial statements which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

However, as can be seen by the results for the year, the school has experienced severe financial challenges, which continue into 2024. The Trustees, having considered the situation carefully, have developed a robust plan to address the issues and secure the long-term financial viability of the school.

Colin Bristow FCCA Lakeview Accountancy Ltd 5[th] May 2024

OLD WINDSOR PRE-SCHOOL Trustees’ Report for the year ended 31 December 2023

Old Windsor Pre-School

Statement of Financial Activities for the year ended 31 December 2023 Notes 2023 £ INCOME Fees Receivable 2,000.00 Nursery Education Grant 24,882.24 Fund Raising Receipts 3,385.72 Donations & Sponsorships 560.00 Bank Interest receivable 580.78 Total Incoming Resources 31,408.74 EXPENDITURE Direct Charitable Expenditure Staff costs 2 36,929.06 Teaching equipment, materials and courses 2,126.94 Hall Hire 11,474.15 Subscriptions 55.28 50,585.43 Other Expenditure Fund Raising Expenses 1,310.48 Management and Administration 3 3,061.76 Total Other Expenditure 4,372.24 Net Income/(Expenditure) (23,548.93) Reconciliation of Funds Funds Balance brought forward at 1 January 59,799.39 Funds Balances carried Forward at 31 December £ 36,250.46	2022 £ 4,930.00 40,751.46 2,529.68 74.60 75.74
	48,361.48
	36,776.94 2,590.48 7,967.69 396.52
	47,731.63 530.00 1,978.38
	2,508.38
	(1,878.53) 61,677.92
	59,799.39

The notes on pages 7 to 8 form part of these financial statements.

OLD WINDSOR PRE-SCHOOL Trustees’ Report for the year ended 31 December 2023

Old Windsor Pre-School Balance Sheet as at 31 December 2023 Notes Current Assets 4 Stock Debtors Cash at bank and in hand Less: Creditors:amounts falling due within one year Net current assets Total assets less current liabilities £ FUNDS Unrestricted Funds £	2023 £ 100.00 220.32 37,351.02 37,671.34 1,420.88 36,250.46 36,250.46 36,250.46	2022 £ 100.00 847.51 60,349.31	2022
		61,296.82 1,497.43
		59,799.39
		59,799.39
		59,799.39

These financial statement statements were approved by the Trustees on and signed on its behalf.

_________ M Bourne – Chairperson

_________ Mrs A Forster – Treasurer

OLD WINDSOR PRE-SCHOOL Trustees’ Report for the year ended 31 December 2023

1. Accounting Policies

Basis of accounting

The financial statements are prepared in accordance with the Statement of Recommended Practice ‘Accounting by Charities’ and applicable accounting standards. The relative accounting policies adopted by the Trustees are described below.

Accounting Convention

The financial statements are prepared under the historical cost convention.

Incoming Resources

Income is included in the Statement of Financial Activities when the conditions for receipt have been met and there is reasonable assurance of that receipt. All incoming resources are deemed unrestricted funds.

Depreciation of tangible fixed assets

Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or valuation less estimated residual value of each asset over its estimated useful life. The principal rates in use are:

Furniture – Tables, Chairs, Fixtures and Fittings over 10 years Equipment – IT and Technical Equipment over 3 years

Stocks

Stock of items for resale are valued at the lower of cost and estimated net realisable value.

Reserves Policy

The Trustees believe the Old Windsor Pre-School should have unrestricted reserves sufficient to secure a continuity of education for its pupils and employment for its staff in the event of a major disruption to its activities. The Trustees believe that to secure continuity of education the reserves should be sufficient to:

Firstly continue to employ staff, rent alternative premises, purchase replacement materials and
equipment or address another major issue
Secondly in the event of the Trustees deciding to wind up the Charity, to pay redundancy to its staff.

The level of reserves required to meet these needs will be estimated using the following calculation:

● An amount equal to one third of the total fees or nursery education grants received in the previous three terms plus

An amount sufficient to pay redundancy to staff in accordance with the Pre-Schools redundancy policy.

OLD WINDSOR PRE-SCHOOL Trustees’ Report for the year ended 31 December 2023

Fund Accounting

The Charity maintains two types of fund as follows:

Unrestricted funds which can be used in accordance with the charitable objects at the discretion of the Trustees
Restricted funds which can only be used for specific purposes as laid down by the donor.

Currently there are no restricted funds.

Pension

A stakeholder pension scheme is available to any of our permanent staff.

2. Staff Costs

Staff costs comprise salaries, employer’s national insurance contributions, pension contributions and any requisite training expenditure.

3. Management and Administration

Administration and Courses Advertising and Marketing Insurance Independent Examiner’s Fee Bank charges Miscellaneous 4.Stocks Goods for resale	2023 £ 394.04 976.80 516.59 600.00 70.33 504.00 3,061.76 2023 £ 100.00	2022 £ 50.00 270.00 482.73 600.00 71.65 504.00
		1,978.38
		2022 £ 100.00