Docusign Envelope ID: 17BB1FBA-B019-4CFE-8517-1D5D187C44BA ## **SYDENHAM ROAD UNDER FIVES** **ACCOUNTS** **YEAR ENDED 31[st] JULY 2024** **Charity Number 1045367** Docusign Envelope ID: 17BB1FBA-B019-4CFE-8517-1D5D187C44BA ## **SYDENHAM ROAD UNDER FIVES** ## **FINANCIAL STATEMENTS** ## **YEAR ENDED 31 JULY 2024** |**CONTENTS**|**PAGE**| |---|---| |Legal and Administrative Information|**1**| |Trustees annual report|**2 to 4**| |Independent Examiner’s Report|**5**| |Statement of financial activities|**6**| |Balance sheet|**7**| |Notes to the Accounts|**8 to 12**| Docusign Envelope ID: 17BB1FBA-B019-4CFE-8517-1D5D187C44BA ## **SYDENHAM ROAD UNDER FIVES** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **YEAR ENDED 31 JULY 2024** ## **Status** Sydenham Road Under Fives is a registered charity governed by its constitution. Charity number 1045367. ## **TRUSTEES** Carla Scherer Chair resigned 16 November 2023 Hannah Marvel-Smith Chair appointed 24 October 2024 Hannah Malone Secretary appointed 24 October 2024 Shamirra Javed Treasurer resigned 16 November 2023 Philippa Hurford Staff liaison resigned 16 November 2023 Marc Pate resigned 16 November 2023 Lydia Tickner resigned 16 November 2023 Naomi Dippie Appointed April 2024 Hollie Callaghan Appointed April 2024 Eliza Turner Appointed April 2024 Steven Hannan Appointed April 2024 Simon Jay Vice Chair Appointed April 2024 Hannah Malone resigned as Chair on the 24.10.24 where she was then appointed as the Secretary. Hannah Marvel-Smith was appointed as Secretary on the 15.11.23, she was later appointed as Chair on the 24.10.24 after Hannah Malone resigned. ## **Registered Office** Totterdown Baptist Church Jarman Hall Sydenham Road Totterdown Bristol BS4 3DF ## **Independent Examiners** Jacob Trowbridge MAAT Bristol Community Accountants CIC The Park, Daventry Road, Knowle Bristol BS4 1DQ ## **Bankers** Lloyds TSB 55 Corn Street Bristol BS99 7LE **- 1 -** Docusign Envelope ID: 17BB1FBA-B019-4CFE-8517-1D5D187C44BA ## **SYDENHAM ROAD UNDER FIVES** ## **TRUSTEES REPORT** ## **YEAR ENDED 31 JULY 2024** The trustees present their report and the unaudited financial statements of the charity for the year ended 31 July 2024. Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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) (effective 1 January 2019). ## **Structure, Governance and Management** ## **Organisation** The trustees are appointed or reappointed annually at AGM held in the autumn term. The committee shall meet at least three times a year and shall consist of not less than two and no more than nine elected members and if the committee so decides, not more than three members co-opted by the committee. ## **Objectives and activities** ## **Objects of the Charity** The objects of the charity are: To enhance the development and education of children under statutory school age by encouraging parents to understand and provide for the needs of children through community groups and by offering appropriate play facilities, together with the right carers or parents to take responsibility for and to become involved in the activities of the group, ensuring that we offer opportunities for all children whatever their race, culture, religion, means or ability. To instigate and adhere to and further the aim of the Pre-school Learning Alliance. ## **Public benefit** In shaping the objectives for the year and planning activities, the trustees have considered the Charity commission’s guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. **- 2 -** Docusign Envelope ID: 17BB1FBA-B019-4CFE-8517-1D5D187C44BA ## **SYDENHAM ROAD UNDER FIVES** ## **TRUSTEES REPORT** ## **YEAR ENDED 31 JULY 2024** ## Review of activities ## **Treasurer - Hollie Callaghan** This year has been a good year for SRUFs. At the start of the academic year, we were near full capacity of preschool children with a waiting list in place. We have made a loss for the year, but we are in a stable position. For this financial year we have made a loss of **£5,452.70.** ## **Income** ## **Total Income = £98,586.00** This is mainly made up of FEEE (£84,763.56) and Parent fees (£10,520.00). We have also had a great fundraising and donations year which added £2,889.31 to our income. £1,629.25 of this was through our Good Hub donations page, of which £354.75 was Gift Aid. We were also fortunate to secure a £1,000 grant from Tesco Stronger Starts this year. Thank you to Steve Hannan for applying for this! ## **Expenditure** ## **Total Expenditure = £104,422.00** Staff wages continue to be SRUFs largest expenditure, this totalled to £87,974.00 (an increase from last year to keep in line with rise to national living wage), followed by rent of £9,499.20 and teaching resources of £3,190.00. ## **Reserves** We have increased our reserve account from £23,155.24 to £38,442.91. This ensures that we hold a minimum of 2 terms running costs as a reserve to give us greater financial stability. This will be reviewed annually to ensure that it continues to represent overall running costs of the preschool. SRUFs also has a surplus (made up of profits over the years) of over £95,957.00. In September 2024 we invested £45,000 into a high interest 1-year Savings Bond account to sustain and further strengthen our financial position. We will review this annually. ## **Future outlook-2024/25** Due to a low number of children starting this year, SRUF is currently predicted to make a small loss at the end of this academic year. However, due to the change of hours from September 2024 and our recent advertising push – we have seen an increase in applications for Terms 3 - 6 (albeit we are still not at capacity). **- 3 -** Docusign Envelope ID: 17BB1FBA-B019-4CFE-8517-1D5D187C44BA ## **SYDENHAM ROAD UNDER FIVES** ## **TRUSTEES REPORT** ## **YEAR ENDED 31 JULY 2024** This year we have increased our preschool fees in line with similar provisions and invested some of our surplus amount to further strengthen our financial position and we have also introduced an Enrichment charge to offset against rising costs and other expenses. We also aim to keep expenditure as low as possible and are continuously working together with staff and committee members to ensure we maintain the high quality of learning experiences for the preschool children within budgets set to maintain a healthy financial position. We are continuing to look at ways to increase financial stability alongside the measures that we have put in place. The accounts have not yet been finalised; draft figures have been handed out. Once finalised the accounts will be available to view on the charity commission website. Approved by the trustees and signed on their behalf by: **----- Start of picture text -----**
……………………………………………. [ A993DD923B7E7452... by:
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Hannah Marvel-Smith Steven Patrick Hannan **----- Start of picture text -----**
…………………………………………….
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20/12/2024
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Date ……………………………………… **- 4 -** Docusign Envelope ID: 17BB1FBA-B019-4CFE-8517-1D5D187C44BA ## **SYDENHAM ROAD UNDER FIVES** ## **Independent Examiner’s Report to the Trustees** ## **YEAR ENDED 31 JULY 2024** ## **Independent examiner’s report to the trustees of Sydenham Road Under Fives’** I report to the trustees on my examination of the accounts of Sydenham Road Under Fives’ for the year ended 31 July 2024. ## **Responsibilities and basis of report** As the charity trustees of the charity 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 charity’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 examiner’s statement** 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: - accounting records were not kept in respect of the charity as required by section 130 of the Act; or - the accounts do not accord with those records; or - the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts 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. Jacob Trowln Jacob Trowbridge MAAT ……………………………………………………. [ea Trl dy. Bristol Community Accountants CIC The Park Daventry Road, Knowle Bristol 2/1/2025 BS4 1DQ Date .............................................. **- 5 -** Docusign Envelope ID: 17BB1FBA-B019-4CFE-8517-1D5D187C44BA ## **SYDENHAM ROAD UNDER FIVES** ## **STATEMENT OF FINANCIAL ACTIVITIES (including Income and Expenditure Account)** ## **YEAR ENDED 31 JULY 2024** |**Income and Endowments from:**
Donations and Legacies
**3**
Other Trading Activities
**4**
Investment Income
**5**
**Total**
**Expenditure On:**
Charitable Activities
**6**
Other
**7**
**Total resources expended**
**Net income/(expenditure)**
Total funds brought forward
**Total funds Carried Forward**
**15**|**Unrestricted**
**Funds**
**£**
98,586
95
288|**Restricted**
**Funds**
**£**
-
-
-|**Total Funds**
**2024**
**£**
98,586
95
288|**Total Funds**
**2023**
**£**
103,013
125
102| |---|---|---|---|---| ||98,969|-|98,969|103,240| ||102,386
2,036|-
-|102,386
2,036|91,721
1,957| ||104,422|-|104,422|93,678| ||(5,453)
99,055|-
722|(5,453)
99,777|9,562
90,215| ||93,602|722|94,324|99,777| All of the activities of the charity are classed as continuing ## **The notes on pages 10 to 12 form part of these financial statements** As required by paragraph 4.67of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet. *Details of the allocation of 2023 total funds between unrestricted and restricted are shown in note 16 **- 6 -** Docusign Envelope ID: 17BB1FBA-B019-4CFE-8517-1D5D187C44BA ## **SYDENHAM ROAD UNDER FIVES** ## **BALANCE SHEET** ## **YEAR ENDED 31 JULY 2024** |||**2024**||**2023**| |---|---|---|---|---| ||**Note**|**£**|**£**|**£**| |**Current assets**||||| |Debtors|**11**|191||-| |Cash at bank||95,957||100,861| |||96,148||100,861| |**Creditors : Amounts falling**||||| |**due within one year**|**12**|(1,824)||(1,084)| |Net current assets or liabilities|||94,324|99,777| |**Total net assets or liabilities**|||94,324|99,777| |**The Funds of the Charity**||||| |Restricted funds|**15**|722||722| |Unrestricted funds|**15**|93,602||99,055| ||||94,324|99,777| ## 20/12/2024 These financial statements were approved by the trustees on ……………………………. and are signed on their behalf by: Hannah Marvel-Smith ………………………………. Chairperson Steven Patrick Hannan ………………………………. Treasurer **The notes on pages 10 to 12 form part of these financial statements** **- 7 -** Docusign Envelope ID: 17BB1FBA-B019-4CFE-8517-1D5D187C44BA ## **SYDENHAM ROAD UNDER FIVES** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 JULY 2024** ## **1 Basis of Preparation** - a) These accounts 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. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective from 1 January 2019) - (Charities SORP(FRS 102)) and with the Charities Act 2011. - b) The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern as they have a surplus (made up of profits over the years) of over £60,000, which strengthens their financial position - c) The charity constitutes a public benefit entity as defined by FRS 102. ## **2 Accounting Policies** - a) Income from donations is included in income and endowments when these are receivable, except as follows: i) When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods. ii) When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-condition have been met. - b) Expenditure is recognised in the period in which they are incurred. Expenditure includes attributable VAT which cannot be recovered. - c) Most expenditure is directly attributable to specific activities, and have been included in those cost categories. Support cost have been allocated 100% towards the charitable activities of the charity. - d) Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees. - e) Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. f) 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 with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method. - g) The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. Pension costs charged in the financial statements represent the contribution payable by the charitable company during the year. **- 8 -** Docusign Envelope ID: 17BB1FBA-B019-4CFE-8517-1D5D187C44BA ## **SYDENHAM ROAD UNDER FIVES** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 JULY 2024** ## **Income and Endowments From:** ## **3 Donations and legacies** |Fundraising and donations
Pre-School provision|**Unrestricted**
**Funds**
**£**
3,303
95,283|**Restricted**
**Funds**
**£**
-
-|**Total Funds**
**2024**
**£**
3,303
95,283|**Total Funds**
**2023**
**£**
3,127
99,886| |---|---|---|---|---| ||98,586|-|98,586|103,013| _Donations and legacies prior year - all unrestricted_ ## **4 Trading Income** |Admin fees|**Unrestricted**
**Funds**
**£**
95|**Restricted**
**Funds**
**£**
-|**Total Funds**
**2024**
**£**
95|**Total Funds**
**2023**
**£**
125| |---|---|---|---|---| ||95|-|95|125| _Trading income prior year - all unrestricted_ ## **5 Investment Income** |Bank interest|**Unrestricted**
**Funds**
**£**|**Restricted**
**Funds**
**£**|**Total Funds**
**2024**
**£**|**Total Funds**
**2023**
**£**| |---|---|---|---|---| ||288|-|288|102| _Investment income prior year - all unrestricted_ **- 9 -** Docusign Envelope ID: 17BB1FBA-B019-4CFE-8517-1D5D187C44BA ## **SYDENHAM ROAD UNDER FIVES** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 JULY 2024** ## **Expenditure on:** ## **6 Charitable activities** |Resources / training materials
Salaries
Rent & rates
Miscellaneous
Postage/ stationery/admin
Memberships / subscriptions
Training
DBS fee
_Charitable activities_
_Resources / training materials_
_Salaries_
_Rent & rates_
_Miscellaneous_
_Postage/ stationery/admin_
_Memberships / subscriptions_
_Training_
_DBS fee_
**Other**
Payroll
Independent examination
Insurance|**Unrestricted**
**Funds**
**£**
3,190
87,974
9,499
15
655
653
133
267|**Restricted**
**Funds**
**£**
-
-
-
-
-
-
-
-|**Total Funds**
**2024**
**£**
3,190
87,974
9,499
15
655
653
133
267|**Total Funds**
**2023**
**£**
3,342
75,924
10,132
21
672
434
1,100
96| |---|---|---|---|---| ||102,386|-|102,386|91,721| ||_Unrestricted_
_Funds_
_£_
3,342
75,924
10,132
21
672
434
1,100
96|_Restricted_
_Funds_
_£_
-
-
-
-
-
-
-
-|_Total Funds_
_2023_
_£_
_3,342_
_75,924_
_10,132_
_21_
_672_
_434_
_1,100_
_96_|**Total Funds**
**2023**
**£**
522
887
548| ||_91,721_|_-_|_91,721_|| ||**Unrestricted**
**Funds**
**£**
520
975
541|**Restricted**
**Funds**
**£**
-
-
-|**Total Funds**
**2024**
**£**
520
975
541|| ||2,036|-|2,036|1,957| ## **7 Other** _Other prior year - all unrestricted_ **- 10 -** Docusign Envelope ID: 17BB1FBA-B019-4CFE-8517-1D5D187C44BA ## **SYDENHAM ROAD UNDER FIVES** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 JULY 2024** ## **8 Net incoming resources for the year** ## **This is stated after charging:** |**This is stated after charging:**||| |---|---|---| ||**2024**|**2023**| ||**£**|**£**| |Independent Examiners Fee|975|887| - **9 Staff costs and numbers** The aggregate payroll costs were: |The aggregate payroll costs were:||| |---|---|---| |Wages and salaries
Employers pension costs|**2024**
**£**
85,411
2,563|**2023**
**£**
74,976
948| ||87,974|75,924| No employee received emoluments of more than £60,000. The average monthly head count was 8 staff (2023: 9 staff) The key management personnel of the charity comprise the board of trustees & the Senior Play Leader. The total employee benefits of key management personnel, during the year, total £23,904 (2023: £22,164). ## **10 Taxation** The charity is exempt from corporation tax on its charitable activities. - **11 Debtors** |Trade debtors
**Creditors: amounts falling due within one year**
Creditors
Accruals:
Independent Examination
HMRC PAYE|**2024**
**£**
191|**2023**
**£**
-| |---|---|---| ||191|-| ||**2024**
**£**
237
975
612|**2023**
**£**
197
887
-| ||1,824|1,084| ## **12 Creditors: amounts falling due within one year** ## **13 Related party Transactions** There were no related party transactions during the year (2023: £nil) **- 11 -** Docusign Envelope ID: 17BB1FBA-B019-4CFE-8517-1D5D187C44BA ## **SYDENHAM ROAD UNDER FIVES** ## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2024** ## **14 Trustee remuneration** The charity trustees were not paid or received any other benefits from employment with the charity in the year (2023: £nil) neither were they reimbursed expenses during the year (2023: £nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £nil). |**15**
**Analysis of charitable funds**
**Restricted funds**
Bristol City Council - Capital
**Unrestricted funds**
General funds
**Total funds**|**At**
**01-Aug**
**2023**
**£**
722|**Incoming**
**resources**
**£**
-|**Outgoing**
**resources**
**£**
-|**Transfers**
**£**
-|**At**
**31-Jul**
**2024**
**£**
722| |---|---|---|---|---|---| ||722|-|-|-|722| ||99,055|98,969|(104,422)|-|93,602| ||99,777|98,969|(104,422)|-|94,324| ## Restricted funds: Bristol City Council - Capital improvements to the kitchen and nursery environment ## **16 Analysis of charitable funds - previous year, as required by paragraph 4.2. of the SORP** |**Income and Endowments from:**
Donations and Legacies
Other Trading Activities
**Total**
**Expenditure On:**
_Charitable activities_
_Other_
**Total resources expended**
**Net income/(expenditure)**
Total funds brought forward
**Total funds Carried Forward**|**Unrestricted**
**Funds**
**£**
103,013
125|**Restricted**
**Funds**
**£**
-
-|**Total Funds**
**2023**
**£**
103,013
125| |---|---|---|---| ||103,240|-|103,240| ||91,721
1,957|-
-|91,721
1,957| ||93,678|-|93,678| ||9,562
89,493|-
722|9,562
90,215| ||99,055|722|99,777| ## **17 Analysis of net assets between funds** |Cash at Bank and In Hand
Other Net Current Assets/Liabilities)
**Total**|**General**
**Funds**
**£**
95,235
(1,633)|**Restricted**
**Funds**
**£**
722
-|**Total**
**Funds**
**£**
95,957
(1,633)| |---|---|---|---| ||93,602|722|94,324| **- 12 -**