REGISTERED CHARITY NUMBER: 1045695
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2022
for
Ponsanooth Pre-School Playgroup
Atkins Ferrie Chartered Accountants Lakeside Offices The Old Cattle Market Coronation Park Helston Cornwall TR13 0SR
Ponsanooth Pre-School Playgroup
Contents of the Financial Statements for the Year Ended 31 March 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 12 |
| Detailed Statement of Financial Activities | 13 |
Ponsanooth Pre-School Playgroup
Report of the Trustees for the Year Ended 31 March 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The financial statements comply with the Charities Act 2011 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The aims of the charity are to enhance the development and education of children primarily under statutory school age by encouraging parents to understand and provide for the needs of their children. We achieve this by offering appropriate play, education and care facilities, not only for the Pre-School children but also those attending our breakfast and after school clubs.
In setting the charity's aims and objectives the Trustees have given consideration to the Charity Commission's guidance on public benefit and have complied with their duty in section 17 of the Charities Act 2011.
Public benefit
We endeavour to keep our charges to parents at a level which is inclusive for all families. We strongly believe that it is important for young children to attend pre school even when there is no childcare need as one or both parents is at home. In order to mitigate the impact on our finances of the increase in the Living Wage, the pre school hourly charge this year was increased from £4.70 per hour to £4.90 with effect from September 2021. We accept Childcare vouchers and are registered for the Government's tax free childcare scheme, which makes childcare costs for working families more affordable.
We are open from 7.45 am until 5.45 pm and cater for children from age 2 to 11 years, which enables families to go to work .The cost of Breakfast club has remained at £5.25 for regular users and £6.25 for children who attend irregularly. After School fees for attendance to 4.30 pm have remained at £5.25 for regular users and £6.25 for irregular users. The additional cost for children staying on beyond 4.30 pm continues at £4.50 for regular users and £5.50 for children who use our facility irregularly.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Attendance numbers within the pre school have remained similar to the previous year, again with less families accessing the 30 hours free childcare. Attendance at Breakfast club and after school club facilities have increased slightly although many families are still working from home, negating the need for childcare.
Transition to school arrangements continue to be carefully planned to enable children to feel confident and settle comfortably into full time education and achieve positive outcomes. We have received positive feedback both from families and Kennall Vale School.
We continue to support families with parenting their children and offered advice for healthy eating as part of the Healthy Children and Families programme. This has the positive effect of encouraging and supporting healthy eating habits, leading to positive outcomes in later life.
The pre school continues to use the outside play space at the rear of the building plus the facilities on the neighbouring park. The remainder of the fenced play area to the side of the building remains unusable as it requires surfacing. Fundraising opportunities have been limited due to Covid 19 positive cases. We did however hold a sale of the Christmas crafts which raised £175.50.
In October 2019, the Pre School received an Inspection from OFSTED and received a "Good" Rating.
FINANCIAL REVIEW
The charity has three bank accounts with Lloyds Bank. One of these is a Savings Account in which there is an emergency fund of approximately £6,000 which can be used if the charity needs to replace major items of equipment and is unable to do so from its normal day to day funds in the current account. There is a separate savings account to which all fundraising amounts are credited. The charity's day to day business is conducted through the current account. The charity's main source of income is fee income from parents, both for pre school care and out of hours, and additionally, we receive Nursery Education Grant funding for three and four year olds, together with some for two year olds.
Children are currently entitled to 15 hours free child care per week for 38 weeks of the year from the term after their third birthday. Families where both parents work continue to be entitled to 30 hours funding per week, although we have had less families who are entitled to the 30 hours this year due to more parents staying at home with their children.
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Ponsanooth Pre-School Playgroup
Report of the Trustees for the Year Ended 31 March 2022
The £50,000 loan to the St Gluvias Parish Council which was used towards the purchase of the new building, remains outstanding in its entirety as a formal Lease has yet to be agreed. The pre school continues to benefit from a favourable rental of £380 per month inclusive of electricity and water.
At 31 March 2022 the free reserves of the charity are £67,795 (2021: £70,880).
Total reserves, all of which are unrestricted, total £70,897 (2021: £74,807).
The net deficit for the year as set out on the Statement of Financial Activities is £3,910 (2021: £3,755 surplus).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
Ponsanooth Pre-School Playgroup is a registered charity (No: 1045695). The charity is controlled by its governing document and operates under the Pre School Learning Alliance Constitution. It is an unincorporated charity.
Recruitment and appointment of new trustees
Trustees are appointed at the Pre-School's Annual General Meeting. Trustees are elected by existing members.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1045695
Principal address
The Cabin, Ponsanooth Playing Field Ponsvale Ponsanooth Truro Cornwall TR3 7RQ
Trustees
Mrs B H McKerron Treasurer (resigned 9.2.2023)
Mrs C M D Carter Secretary and Administrator (resigned 9.2.2023) Mr A D D'Agostino Chairperson Mrs M Hall Mr T Strasman Mr K Ryan (resigned 14.7.2022) Miss D McAdam (resigned 24.11.2021) Mrs A Fyffe (resigned 9.2.2023) Mrs L J Wickes (resigned 9.2.2023) Ms G Button-Stephens (appointed 9.2.2023) Ms N Kelly (appointed 9.2.2023) Ms R L Waterfield (appointed 9.2.2023) Mrs K Berriman (appointed 9.2.2023) Ms M Robbins
Independent Examiner
Thomas Tripp FCCA ACA Atkins Ferrie Chartered Accountants Lakeside Offices The Old Cattle Market Coronation Park Helston Cornwall TR13 0SR
Bankers
Lloyds Bank 27 Fore Street Redruth Cornwall TR15 2BJ
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Ponsanooth Pre-School Playgroup
Report of the Trustees for the Year Ended 31 March 2022
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.............................................................................. Ms G Button-Stephens - Trustee
Page 3
Independent Examiner's Report to the Trustees of Ponsanooth Pre-School Playgroup
Independent examiner's report to the trustees of Ponsanooth Pre-School Playgroup
I report to the charity trustees on my examination of the accounts of Ponsanooth Pre-School Playgroup (the Trust) for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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 Trust 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.
Thomas Tripp FCCA ACA Atkins Ferrie Chartered Accountants Lakeside Offices The Old Cattle Market Coronation Park Helston Cornwall TR13 0SR
Date: .............................................
Page 4
Ponsanooth Pre-School Playgroup
Statement of Financial Activities
for the Year Ended 31 March 2022
| Unrestricted Restricted fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 - - Charitable activities 5 Playgroup 90,942 - Other trading activities 3 217 - Investment income 4 1 - Total 91,160 - EXPENDITURE ON Charitable activities 6 Playgroup 95,070 - NET INCOME/(EXPENDITURE) (3,910) - RECONCILIATION OF FUNDS Total funds brought forward 74,807 - TOTAL FUNDS CARRIED FORWARD 70,897 - |
2022 Total funds £ - 90,942 217 1 91,160 95,070 (3,910) 74,807 70,897 |
2021 Total funds £ 20,510 68,538 611 4 |
|---|---|---|
| 89,663 | ||
| 85,908 | ||
| 3,755 71,052 |
||
| 74,807 |
The notes form part of these financial statements
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Ponsanooth Pre-School Playgroup
| Balance Sheet 31 March 2022 Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Tangible assets 11 3,102 - CURRENT ASSETS Debtors 12 5,794 - Investments 13 50,000 - Cash at bank 17,402 - 73,196 - CREDITORS Amounts falling due within one year 14 (5,401) - NET CURRENT ASSETS 67,795 - TOTAL ASSETS LESS CURRENT LIABILITIES 70,897 - NET ASSETS 70,897 - FUNDS 15 Unrestricted funds TOTAL FUNDS |
2022 Total funds £ 3,102 5,794 50,000 17,402 73,196 (5,401) 67,795 70,897 70,897 70,897 70,897 |
2021 Total funds £ 3,927 4,049 50,000 23,045 77,094 (6,214) 70,880 74,807 74,807 74,807 74,807 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
Ms G Button-Stephens - Trustee
The notes form part of these financial statements
Page 6
Ponsanooth Pre-School Playgroup
Notes to the Financial Statements for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The presentation currency of the financial statements is the Pound Sterling (£).
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Grant income consists of Nursery Education Grant funding received and is accounted for under the performance model.
Government grants
Government grants are recognised as income when there is evidence of entitlement, receipt is probable and the amount can be measured reliably. Grants received are included as unrestricted funds within 'Donations and legacies'.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Charitable activities
Charitable activity costs include those items of expenditure incurred in delivering the charity's main objective of providing pre-school facilities. This category also includes support costs such as governance costs and premises expenses.
Allocation and apportionment of support costs
Support costs have been allocated between governance costs and management costs. Governance costs are those items of expenditure incurred in the course of the charity's statutory obligations and include the cost of independent examination and costs linked to the strategic management of the charity.
Support costs are wholly allocated to playgroup activities, being the main charitable activity undertaken by the charity. These costs form part of the overall Playgroup costs disclosed under Charitable Activities on the face of the Statement of Financial Activities.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance Fixtures and fittings - 25% on reducing balance
Current asset investments
Current assets investments include a concessionary loan made during the prior year. The loan is recognised at the amount paid, less any repayments, interest and impairment.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
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Ponsanooth Pre-School Playgroup
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Financial instruments
The charity has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Cash at band and in hand
Cash at bank and cash in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
2. DONATIONS AND LEGACIES
Grant income in the previous year consisted of government grants received during the Covid-19 pandemic. £10,000 was received in relation to a support grant from the local authority and £10,510 was received in relation the Job Retention Scheme. There were no unfulfilled conditions or other contingencies attached to this grant income. No such grant income was received during the year ended 31 March 2022.
3. OTHER TRADING ACTIVITIES
4.
| Fundraising events INVESTMENT INCOME Deposit account interest |
2022 £ 217 2022 £ 1 |
2021 £ 611 |
|---|---|---|
| 2021 £ 4 |
5. INCOME FROM CHARITABLE ACTIVITIES
Included in Income from charitable activities is government grant income of £57,721 (2021: £53,314) received in relation to Nursery Education Grant funding.
6. CHARITABLE ACTIVITIES COSTS
| CHARITABLE ACTIVITIES COSTS | |||
|---|---|---|---|
| Support | |||
| Direct | costs (see | ||
| Costs | note 7) | Totals | |
| £ | £ | £ | |
| Playgroup | |||
| 89,598 | 5,472 | 95,070 |
continued...
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Ponsanooth Pre-School Playgroup
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
7. SUPPORT COSTS
Playgroup
| Governance | ||
|---|---|---|
| Management | costs | Totals |
| £ | £ | £ |
| 1,309 | 4,163 | 5,472 |
Included within governance costs are fees payable of £920 (2021: £920) in relation to the independent examination of the financial statements.
8. TRUSTEES' REMUNERATION AND BENEFITS
Mrs C M D Carter, who was trustee during the year ended 31 March 2022 and who is also considered as key management and financial personnel, was paid £5,120 (2021: £10,563) for the provision of bookkeeping and payroll services and grant applications. Pension contributions of £158 (2021: £317) were also made during the year.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
9. STAFF COSTS
| Wages and salaries Other pension costs The average monthly number of employees during the year was as follows: Management & Administration Charitable Activities |
2022 £ 73,310 2,092 75,402 2022 2 5 7 |
2021 £ 70,859 1,985 |
|---|---|---|
| 72,844 | ||
| 2021 2 5 7 |
No employees received emoluments in excess of £60,000.
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 20,510 - Charitable activities Playgroup 68,538 - Other trading activities 611 - Investment income 4 - Total 89,663 - |
Total funds £ 20,510 68,538 611 4 |
|---|---|
| 89,663 |
continued...
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Ponsanooth Pre-School Playgroup
Notes to the Financial Statements - continued
for the Year Ended 31 March 2022
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted Restricted fund fund £ £ EXPENDITURE ON Charitable activities Playgroup 85,908 - NET INCOME 3,755 - RECONCILIATION OF FUNDS Total funds brought forward 71,052 - TOTAL FUNDS CARRIED FORWARD 74,807 - 11. TANGIBLE FIXED ASSETS Fixtures Plant and and machinery fittings £ £ COST At 1 April 2021 353 18,902 Additions - 209 At 31 March 2022 353 19,111 DEPRECIATION At 1 April 2021 337 14,991 Charge for year 4 1,030 At 31 March 2022 341 16,021 NET BOOK VALUE At 31 March 2022 12 3,090 At 31 March 2021 16 3,911 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £ Trade debtors 5,794 Prepayments - 5,794 |
Total funds £ 85,908 3,755 71,052 74,807 Totals £ 19,255 209 19,464 15,328 1,034 16,362 3,102 3,927 2021 £ 3,887 162 4,049 |
Total funds £ 85,908 |
|---|---|---|
| 3,755 71,052 |
||
| 74,807 | ||
continued...
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Ponsanooth Pre-School Playgroup
Notes to the Financial Statements - continued
for the Year Ended 31 March 2022
13. CURRENT ASSET INVESTMENTS
Concessionary loans
| 2022 | 2021 |
|---|---|
| £ | £ |
| 50,000 | 50,000 |
Concessionary loans above include a £50,000 contribution by the charity during 2019 towards the costs of building the new premises, which will be received back over a period of 30 years, through reduced rent charged by the Parish Council. This has not yet started, therefore £1,667 is due within one year, and £48,333 is due after one year.
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Taxation and social security Other creditors |
2022 £ 1,817 335 3,249 5,401 |
2021 £ 4,233 356 1,625 |
|---|---|---|
| 6,214 |
15. MOVEMENT IN FUNDS
| Net | |||
|---|---|---|---|
| movement | |||
| At 1.4.21 | in funds | At 31.3.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 74,807 | (3,910) | 70,897 |
| TOTAL FUNDS | 74,807 | (3,910) | 70,897 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 91,160 | (95,070) | (3,910) |
| TOTAL FUNDS | 91,160 | (95,070) | (3,910) |
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | |||
| At 1.4.20 | in funds | At 31.3.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 71,052 | 3,755 | 74,807 |
| TOTAL FUNDS | 71,052 | 3,755 | 74,807 |
continued...
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Ponsanooth Pre-School Playgroup
Notes to the Financial Statements - continued
for the Year Ended 31 March 2022
15. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 89,663 | (85,908) | 3,755 |
| TOTAL FUNDS | 89,663 | (85,908) | 3,755 |
Reserves consist of the unrestricted, general reserve used for the day-to-day running of the charity.
16. EMPLOYEE BENEFIT OBLIGATIONS
During the year, pension contributions of £2,092 (2021: £1,985) were made by the charity. Contributions outstanding at the year end totalled £609 (2021: £521).
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022, other than as disclosed in Note 8 to the financial statements.
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Ponsanooth Pre-School Playgroup
Detailed Statement of Financial Activities for the Year Ended 31 March 2022
| INCOME AND ENDOWMENTS Donations and legacies Grants Other trading activities Fundraising events Investment income Deposit account interest Charitable activities Playgroup Total incoming resources EXPENDITURE Charitable activities Wages Pensions Rent Rates and water Insurance Sports lessons Kitchen purchases Staff training Repairs and renewals Playgroup consumables Depreciation of tangible fixed assets Support costs Management Telephone Postage and stationery Governance costs Accountancy and legal fees Total resources expended Net (expenditure)/income |
2022 £ - 217 1 90,942 91,160 73,310 2,092 4,560 67 984 25 2,568 2,875 602 1,481 1,034 89,598 1,193 116 1,309 4,163 95,070 (3,910) |
2021 £ 20,510 611 4 68,538 |
|---|---|---|
| 89,663 70,859 1,985 3,420 - 983 - 1,546 333 775 1,823 1,309 |
||
| 83,033 986 194 |
||
| 1,180 1,695 |
||
| 85,908 | ||
| 3,755 |
This page does not form part of the statutory financial statements
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