Charity registration number: 1044243
Willows Educare - Heamoor Pre-school Playgroup
Annual Retv)rt and Financial Statements
for the Year Ended 31 July 2024

Willows Educare - Heamoor Pre-school Playgroup
Contents (continued)
Reference and Administrative Details
Trustees, Report
2to4
statement of Trustees, Responsibilities
Independent Examiner's Report
Statement of Financial Activities
7t08
Balance Sheet
Notes to the Financial Statements
ioto19

Willows Educare - Heamoor Pre-school Playgroup
Reference and Administrative Details
Charity Registration Number
1044243
Principal Office
clo Heamoor CP School
Bosvenna Way
Heamoor
Penzance
TR18 3JZ
Trustees
Chris Andrews
Jessica Jackson
Susan Oliver
All￿ Brighton
Emma Withecombe
Key Management Personnel
Sara Mitchell, Nursery Manager
Tracy Cole, Office Manager
Independent Examiner
N A Hallam FCCA
Crane & Johnston
Chartered Certified Accountants
11 Alverton Terrace
Penzance
Cornwall
TR18 4JH
Solicitors
CVC Solicitors
Unit N, Questmap Business Park
Longrock Industrial Estate
Penzance
Cornwall
TR20 8AS
Bankers
Santander
Bridle Road,
Bootle
Merseyside
GIR OAA
Page I

Willows Educare- Heamoor Pre-school Playgroup
Trustees. Report
The Charity registered with the Charity Commi55ion under number 1044243 on 17th February 1995 and
is governed by its constitution which 15 implemented by the Trustees. The charity's main objectives are
to enhance the development and education of children primarily under statutory schoo5 age by
encouraging parents to understand and provide for the needs of their children through community
groups.
The Charity is a body in membership of the Pre-school Learning Alliance. The Pre-school Learning
Alliance is a national organisation registered a5 an educational charity providing 5UPPOrt for the setting
up and running of pre-school playgroup5.
GOVERNANCE
The adopted governing document of the Heamoor Pre - School Group (known as Willows) 15 the
constitution of the Pre - School Learning Allian￿ of which the pre - school is a member.
At least 60 % of the Committee members, including co-opted members, shall at the time of elertion or
co-option be parents or guardians of children in the groups run by the pre school. In the event that
this 600/0 figure cannot be achieved the pre - school may elect other members who are not parents or
guardians to the Committee subject to each of those other members being approved by the local Branch
Executive.
All parents and guardians of children of the group are invited before the AGM to stand for election. Any
resigning offi￿rS will attend the first meeting following the AGM to ensure the induction of new
members. Training is available but not obligatory. There is no obligation by any other person or external
body to appoint one or more Trustees
The responsibility of the Trustees is to ensure that the pre - school complie5 With its aims and is
properly managed. The responsibility for the day to day running of the group and decisions regarding
everyday matters are undertaken by the Nursery Manager and Office Manager. Decisions regarding the
specific delivery of the Early Years curriculum are the responsibility of the Supervisors and Nursery
Manager.
As a member of The Pre - School Learning Allian￿ the group is required to consult the PLA if any
changes are to be made to the aim of the group or if the existen￿ of the group is to be terminated. It
is the legal duty of the PLA to consult the Charity Commission.
The group is registered with OFsfED and receives funding from the government for some 9 month to
2 year olds and all 3-4 year olds to attend sessions free of charge. To be eligible to receive this funding
the group must meet minimum standards required under the Childcare Act 2006. The administration of
the government funding is by the Family servi￿ Department at Cornwall Council who also provide
support and advice to ensure groups meet national standards.
The group is registered with both OFSfED and the Charity Commission; the Trustees, have a
responsibility to keep the records they hold up to date notifying any changes in Governancetrrustees,
The administration of accounts is completed by the offi￿ Manager and overseen by the Treasurer. The
Trustees approve invoices and sign them off each month. A trial balance and Account balances are
available at all Committee meetings. The bank holds details for the Chair, Treasurer, offi￿ Manager
and Deputy Office Manager. The Office Manager and Deputy Office Manager have full access to online
banking and the OfFice Manager holds a Debit Card for each Bank Account.
Page 2

Willows Educare- Heamoor Pre-school Playgroup
Trustees, Report (continued)
The Committee is consulted on all large expenditure that is not part of the general expenses required
to run the group on a day-to-day basis. The Trustees assess the major risks to which the Charity is
exposed and are satisfied that the systems are in place to mitigate exposure to those risks.
AIMS AND OBJECTIVES
The aim of the pre - school is to enhan￿ the development of children primarily under statutory school
age by encouraging parents to understand and provide for the needs of their children through
community group5 and by:
The aim of the pre school is to enhance the development of children primarily under statutory school
age by encouraging parents to understand and provide for the needs of their children through
community groups and by:
Offering appropriate play facilities and access to information which offer parents the
opportunity to take responsibility for and to become involved in the activities of such groups,
ensuring that such groups offer oppotknnities for all children whatever race, culture, religion,
means or ability.
Encouraging the study of the needs of all children and their families and promoting public
interest in and recognition of their needs in the local area. In addition, the group usually offers
B) work placements for students wishing to complete appropriate qualifications in early years and
require practical experience. This is done on a voluntary basis by the students. The total
number of volunteer hours in a year can be around 1500-2000 hours.
ACHIEVEMENTS AND PERFORMANCE
Willows Pre- School is run-in purpose-built accommodation on the site of Heamoor Community Primary
School. It offers funded preschool sessions as well as daycare for O-5-year-old children. In addition, it
a150 provides a holiday and after school club for children up to the age of 12 years. It is open between
the hours of 0800 and 17.30 from Monday - Friday except for public holiday5 and one week over the
Christmas period.
Willows Pre - School is run-in purp05e-built accommodation on the site of Heamoor Community
Primary School. It offers funded preschool sessions as well as daycare for fv5-year-old children.
A) In addition, it also provides a holiday and after school club for children up to the age of 12
years. It is open between the hours of 0800 and 17.30 from Monday - Friday except for public
holidays and one week over the Christmas period.
The group employs qualified staff members to meet the requirements of the Statutory
B) Framework for the Early Years Foundation Stage but also has parent volunteer help for the
Committee, for outings and fundraising activities for the group.
This academic year, the setting has been able to successfully continue after-school and holiday clubs.
It has also been able to offer student work experience and college student pla￿Ments.
Tinker tots the mother and toddler group continues to grow and is hugely popular within the wider
community. Sessions run twice weekly during term time and due to demand also run On￿ a week
during School holidays. Willows provide one qualified staff member from the setting to run the group
with the a￿lstanCe of a few willing volunteers from the local community.
Fundraising was very successful with excellent staff and parent responses. A summer fayre took take
place on June 22nd 2024. Willows re￿iVed one donation from a local masonic lodge.
Willows were successful with Tesco Stronger Starts and have been awarded a sum of £1,500 which will
be awarded in December.
Page 3

Willows Educare - Heamoor Pre-school Playgroup
Trustees. Report (continued)
Christmas mince pie and disco wine evening which has proved to be a very lucrative fundraising event
in previous years is expected to take pla￿ in December and details of which are already being discussed
at committee meetings.
Staffing continues to be the highest expenditure in terms of outgoings however it is the unanimous
opinion of the committee that staff are well paid in accordance with their relevant qualifications and
experience and this is reflected in the high quality of care received by the children and the continuing
satisfaction of parents.
SUMMARY
After a challenging year due to the cost-of-living crisis staff and management have worked tirelessly to
ensure the high-quality care received continues and Willows remain to be held in high regard within
the wider community, with a healthy waiting list.
FINANCIAL REVIEW
Total receipts on unrestricted funds were £335,306, which included fees of £103,894 and Local
Authority funding of £208,217.
Unrestricted expenditure was £338,546, giving rise to a deficit of £3,240 for the year.
The pre-school's unrestricted net current assets at 3 1st July 2024 were £78,281. Of these, £40,000
represented designated funds, as described below, leaving net current assets in general funds of
£38,281. This is less than the optimal £75,000 described in the reserves policy, below, and the Trustees
are aware of the need to take active steps to restore the charity's net income to a surplus in the very
near future. The Trustees are satisfied that progre55 is being made and the charity continues to be able
to meet its liabilities as they fall due and can therefore be regarded as a going COn￿rn.
RESERVES POLICY
It is the policy of the trustees to hold as unrestricted funds a balan￿ which equates to a minimum of
three months unrestricted expenditure, which will be equivalent to £75,000, together with such extra
fund5 as might be necessary to cover emergency situations that may arise.
In addition to this are unrestricted designated funds of £25,000 to cover redundancy costs should they
be necessary, £10,000 for major repairs and £5,000 earmarked to replace the minibus when required.
The annual report was approved by the trustees of the charity on 22 November 2024 and signed on its
behalf by:
Susan Oliver
Trustee
Page 4

Willows Educare- Heamoor Pre-school Playgroup
Statement of Trustees. Responsibilities
The trustees are responsible for preparing the trustee5' report and the financial statements in
accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial
year which give a true and fair view of the State of affairs of the charity and of the incoming resources
and application of resources of the charity for that period. In preparing these financial statements, the
trustees are required to:
select suitable accounting policies and then apply them consistentlyi
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent.
state whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements; and
prepare the financial statements on the going con￿rn basis unless it is inappropriate to presume
that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable
accuracy at any time the financial position of the charity and enable them to ensure that the financial
statements comply with the Charities Att 2011, the Charities (Accounts and Reports) Regulations 2008,
and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of
the charity and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial
information included on the charitable company's website. Legislation governing the preparation and
dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 22 November 2024 and signed on its behalf by:
Susan Oliver
Trustee
Page 5

Willows Educare - Heamoor Pre-school Playgroup
Independent Examiner's Report to the trustees of Willows Educare-
Heamoor Pre-school Playgroup
I report to the trustees on my examination of the accounts of Willows Educare - Heamoor Pre-school
Playgroup for the year ended 31 July 2024.
Responsibilities and basis of report
As the charity trustees of Willows Educare - Heamoor Pre-school Playgroup you are responsible for the
preparation of the accounts in accordance with the requirements of the Charities Act 2011 Cthe Act,).
I report in respect of my examination of the Willow5 Educare
Heamoor Pre-school Playgroup'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 examinerfs Statement
Since Willows Educare
Heamoor Pre-school Playgroup's gross income ex￿eded £250,000 your
examiner must be a member of a body listed in section 145 of the 2011 Att. I confirm that I am qualified
to undertake the examination because I am a member of the Association of Chartered Certified
Accountants, which is one of the listed bodies.
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..
l. accounting records were not kept in respect of Willows Educare - Heamoor Pre-school Playgroup
as required by section 130 of the Act; or
2. the account5 do not accord with those records. or
3. the accounts do not comply with the accounting requirements concerning the form and content
of accounts set out in the Charities (Account5 and Reports) Regulations 2008 other than any
requirement that the accounts give a 'true and fair view, which is not a matter considered as part
of an independent examination.
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.
N A Hallam FCCA
Crane & Johnston
Chartered Certified Accountants
I l Alverton Terrace
Penzance
Cornwall
TR18 4JH
28 November 2024
Page 6

Willows Educare - Heamoor Pre-school Playgroup
Statement of Financial Activities for the Year Ended 31 July 2024
Total
2024
Unrestricted
Restricted
Note
Income and Endowments from:
Charitable activities
other trading activities
332,314
332,314
Total income
335 306
335 306
Expenditure on:
Charitable activities
338 546
338 546
Total expenditure
338 546
338 546
Net expenditure
Gross transfers between funds
(3,240)
(3,240)
Net movement in funds
4,560
(7,800)
(3,240)
Reconciliation of funds
Total funds brought fO￿ard
112 721
Total funds carried forward
15
109 481
The notes on pages 10 to 19 form an integral part of these financial statements.
Page 7

Willows Educare - Heamoor Pre-school Playgroup
statement of Financial Activities for the Year Ended 31 July 2024
(continued)
Prior year
Unrestricted
funds
Restricted
funds
Total
2023
Note
Income and Endowments from:
Voluntary income - donations
Charitable activities
Other trading artivities
1,500
282,759
1,500
282,759
Total income
285 986
285 986
Expenditure on:
Charitable activities
Total expenditure
300 804
Net expenditure
Gross transfers be￿een funds
(14,818)
(14,818)
Net movement in funds
(6,043)
(8,775)
(14,818)
Reconciliation of funds
Total funds brought forward
127 539
Total funds carried forward
15
112 721
The notes on pages 10 to 19 form an integral part of these financial statements.
Page 8

Willows Educare - Heamoor Pre-school Playgroup
(Registration number: 1044243)
Balance Sheet as at 31 July 2024
2024
2023
Note
Fixed assets
Tangible assets
li
66,940
79,130
Current assets
Debtors
Cash at bank and in hand
12
11,853
12,365
52, 140
39,276
Creditors: Amounts falling due within one year
13
Net current assets
Net assets
109 481
112 721
Funds of the charity:
Restricted income funds
Restricted funds
31,200
39,000
Unrestricted income funds
Unrestricted fund5
Total funds
15
109 481
112 721
The financial statements on pages 7 to 19 were approved by the trustees, and authorised for issue on
22 November 2024 and signed on their behalf by:
Susan Oliver
Trustee
mma WithecDm
Trustee
The notes on pages 10 to 19 form an integral part of these financial statements.
Page 9

Willows Educare - Heamoor Pre-school Playgroup
Notes to the Financial Statements for the Year Ended 31 July 2024
l Accounting policies
Statement of compliance
The financial statements have been prepared in accordan￿ with the second edition of the Charities
statement of Recommended Prattice issued in October 2019, the Financial Reporting Standard
applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Willows Educare - Heamoor Pre-school Playgroup meets the definition of a public benefit entity under
FRS 102. The accounts (financial statements) have been prepared under the historical cost convention
with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to
these accounts.
Going concern
The trustees consider that there are no material un￿rtaIntieS about the charity's ability 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.
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
direttly attributed to particular headings they have been allocated on a basis consistent with the use of
reSoUr￿s, with central staff costs allocated on the ba515 of time spent, and depreciation charges
allocated on the PM)rtion of the assevs use. Other 5UPPOrt costs are allocated based on the spread of
staff costs.
All resources expended are inclusive of irrecoverable VAT.
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.
Page 10

Willows Educare - Heamoor Pre-school Playgroup
Notes to the Financial Statements for the Year Ended 31 July 2024
(continued)
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 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 charivs Complian￿ with constitutional and statutory
requirements, including audit, strategic management and trustees meeting5 and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finan￿ Act 2010
and therefore it meets the definition of a charitable company 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 £100.00 or more are initially recorded at cost, less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
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
40h per annum on a straight line basis
Furniture and equipment
Computer5 and motor vehicles
Leasehold buildings
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the
ordinary course of business.
Trade debtors are recognised initially at the transaction pri￿. They are subsequently measured at
amortised cost using the effective interest method, less provision for impairment. A provision for the
impairment of trade debtors is established when there is objective evidence that the charity will not be
able to collect all amounts due according to the original terms of the re￿1vableS.
Page 11

Willows Educare- Heamoor Pre-school Playgroup
Notes to the Financial Statements for the Year Ended 31 July 2024
(continued)
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 does not
have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for
at least tMelve 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 Pri￿ and subsequently measured at amortised
cost using the effective interest method.
Fund structu
Unrestricted income funds are general funds that are available for use at the trustees discretion in
furtherance of the objertives of the charity.
Designated fund5 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 purpose5, the use
of which is restricted to that area or purpose.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the
contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in
the assets of the charity after deducting all of its liabilities.
Page 12

Willows Educare - Heamoor Pre-school Playgroup
Notes to the Financial Statements for the Year Ended 31 July 2024
(continued)
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs),
except for those financial assets classified as at fair value through profit or loss, which are initially
measured at fair value (which is normally the transaction price excluding transaction costs), unless the
arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction,
the financial asset or financial liability is measured at the present value of the future payments
discounted at a market rate of interest for a similar debt instrument.
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 amounts 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 contrattual 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,
Can￿lled or expires.
2 Income from donations and legacies
Total
2024
Total
2023
Voluntary Income
Donations
3 Income from charitable activities
Unrestricted
funds
General
Total
2024
Total
2023
After school club
Early years funding
Fees
Holiday club
Other operating income
School dinners
10,333
208,217
89,769
7,819
12,384
10,333
208,217
89,769
7,819
12,384
9,554
156,654
97,466
7,276
3,017
332 314
332 314
282 759
Page 13

Willows Educare - Heamoor Pre-school Playgroup
Notes to the Financial Statements for the Year Ended 31 July 2024
(continued)
4 Income from other trading activities
Unrestricted
funds
General
Total
funds
Total
2023
Fundraising
Page 14

Willows Educare- Heamoor Pre-school Playgroup
Notes to the Financial Statements for the Year Ended 31 July 2024
(continued)
5 Expenditure on charitable activities
Day care 2 - 14 years:
Unrestricted
funds
General
Total
2024
Total
2023
Note
Salaries
Premises costs
Toys and Equipment
Refreshments and consumables
Telephone and stationery
Sundries
Allocated support costs
Governance costs
207,811
22,509
438
13,679
1,551
4,457
81,048
207,811
22,509
438
13,679
1,551
4,457
81,048
194,516
21,562
612
9,689
1,435
4,802
62,306
338 546
338 546
300 804
6 Analysis of governance and support costs
Total
2024
Total
2023
Allocated support costs
Salaries
Premises costs
Other costs
68,442
4,479
51,606
3,738
Governan￿ costs
Total
2024
Total
2023
staff costs
Wages and salaries
Independent examiner fees
Examination of the financial statements
4,7+1
3,896
1,986
Page 15

Willows Educare - Heamoor Pre-school Playgroup
Notes to the Financial Statements for the Year Ended 31 July 2024
(continued)
7 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity
during the year or prior year.
No trustees have received any reimbursed expenses from the charity during the year or prior year.
8 Staff costs
Total
2024
Total
2023
Analysis of staff costs
Wages and salaries
Employers National Insurance
Employers pension costs
Training costs
262,623
14,141
4,099
134
280 997
234,840
11,019
3,312
846
250 017
The monthly average number of persons (including senior management / leadership team) employed
by the charity during the year expressed as full time equivalents was as follows:
2024
No
2023
No
Activities to further the charities objectives
Management and administration
11
12
13
14
No employee received emoluments of more than £60,000 during the year.
The total employee benefits of the key management personnel of the charity were £73,186 (2023
£61,069}.
9 Independent examiner's remuneration
2024
2023
Examination of the financial statements
2,309
Page 16

Willows Educare- Heamoor Pre-school Playgroup
Notes to the Financial Statements for the Year Ended 31 July 2024
(continued)
IOTaxation
The charity is a registered charity and is therefore exempt from taxation.
IITangible fixed a55ets
Land and
buildings
Furniture and
equipment Motor vehicles
Total
Cost
At l August 2023
Additions
287,216
40,287
150
7,918
335,421
150
At 31 July 2024
287 216
335 571
Depreciation
At l AugLtst 2023
Charge for the year
211,726
38,056
499
6,509
352
256,291
At 31 July 2024
223 215
268 631
Net book value
At 31 July 2024
At 31 July 2023
12 Debtors
2024
2023
Trade debtors
9,814
2,039
9,956
1,889
520
Prepayments
other debtors
13 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Other taxation and social security
Other creditors
Accruals
117
484
2,408
807
5,498
1,896
Page 17

Willows Educare - Heamoor Pre-school Playgroup
Notes to the Financial Statements for the Year Ended 31 July 2024
(continued)
14Contingent liabilities
Penwith District Council requires a legal charge over the building5 which will expire in 2029. Should the
Charity dispose of the buildings or alter the use, the grants of £55,000 from the neighbourhood Renewal
and £50,000 from Single Regeneration Budget may need to be repaid out of the proceeds, together
with any increase in capital value attributed to the funding.
Cornwall Council leases the land to the charity at a peppercorn rent, the lease expires in 2027.
15 Funds
Balance at I Incoming Resources
August 2023 resources
expended
Balance at
Transfers 31 July 2024
Unrestricted funds
General
335 306
Unrestricted designated
funds
Redundancy fund
Minibus fund
Maintenance fund
25,000
5,000
25,000
5,000
Designated
Total unrestricted funds
New building fund
73,721
335,306
(338,546)
7,800
78,281
Total funds
Prior year
112 721
335 306
338 546
109 481
Balance at I Incoming Resources
August 2022 resources
expended
Balance at
Transfers 31 July 2023
Unrestricted funds
General
285 986
300 804
Unrestricted designated
funds
Redundancy fund
Minibus fund
Maintenance fund
25,000
5,000
25,000
5,000
Designated
Page 18

Willows Educare - Heamoor Pre-school Playgroup
Notes to the Financial Statements for the Year Ended 31 July 2024
(continued)
Balance at I Incoming Resources
Balance at
August 2022 resources
expended Transfers 31 July 2023
Total unrestricted funds
New building fund
79,764
285,986
(300,804)
8,775
73,721
Total funds
127 539
285 986
300 804
112 721
The specific purposes for which the funds are to be applied are as follows:
Designated funds are to meet unexpected contingencies should they arise.
The New Building Fund was for the construction of new premises and is written off in line with
depreciation.
16 Analysis of net assets between funds
Unrestricted
funds
General
Total funds at
31 July
2024
Restricted
funds
Tangible fixed assets
Current assets
Current liabilities
35,740
52,140
31,200
66,940
52,140
Total net assets
109 481
Total funds at
31 July
2023
Unrestricted
funds
General
Restricted
funds
Tangible fixed assets
Current assets
Current liabilities
40,130
39,276
39,000
79,130
39,276
Total net assets
112 721
Page 19