2023-03-31-accounts

REGISTERED CHARITY NUMBER: 1045695

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2023

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 2023

	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 2023

The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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

In order to further our aims, during this year we have achieved the following objectives:

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 are 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 to £5.25. 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 increased to £5.60 for regular users and £6.60 for children who attend irregularly. After School fees for attendance to 4.30 pm have increased to £5.60 for regular users and £6.60 for irregular users. The additional cost for children staying on beyond 4.30 pm increased to £4.80.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Attendance numbers within the pre-school have been low this 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.

Fundraising has been successful this year, with funds raised from selling refreshments at sports day, a raffle at a village event and a race night.

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 childcare 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.

Page 1

Ponsanooth Pre-School Playgroup

Report of the Trustees

for the Year Ended 31 March 2023

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 2023 the free reserves of the charity are £62,466 (2022: £67,795).

Total reserves, all of which are unrestricted, total £64,820 (2022: £70,897).

The net deficit for the year as set out on the Statement of Financial Activities is £6,077 (2022: £3,910 deficit).

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 (resigned 11.10.2023) Mrs M Hall Mr T Strasman (resigned 11.10.2023) Mr K Ryan (resigned 14.7.2022) Mrs A Fyffe (resigned 9.2.2023) Mrs L J Wickes (resigned 9.2.2023) Ms G Button-Stephens Chairperson (appointed 9.2.2023) Ms N Kelly (appointed 9.2.2023) Ms R L Waterfield Treasurer (appointed 9.2.2023) Mrs K Berriman Secretary (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 2023

Approved by order of the board of trustees on 8 March 2024 and signed on its behalf by:

Ms G Button-Stephens - Chairperson

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 2023.

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:

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

2. the accounts do not accord with those records; or

3. 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: 18 March 2024

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Ponsanooth Pre-School Playgroup

INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Playgroup Other trading activities Investment income Total EXPENDITURE ON Charitable activities Playgroup NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Statement of Financial Activities for the Year Ended 31 March 2023 Unrestricted Restricted fund fund Notes £ £ 2,003 - 4 94,076 - 2 1,474 - 3 24 - 97,577 - 5 103,654 - (6,077) - 70,897 - 64,820 -	2023 Total funds £ 2,003 94,076 1,474 24 97,577 103,654 (6,077) 70,897 64,820	2022 Total funds £ - 90,942 217 1 91,160 95,070 (3,910) 74,807 70,897

The notes form part of these financial statements

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Ponsanooth Pre-School Playgroup

Balance Sheet 31 March 2023 Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Tangible assets 10 2,354 - CURRENT ASSETS Debtors 11 3,330 - Investments 12 50,000 - Cash at bank 14,445 - 67,775 - CREDITORS Amounts falling due within one year 13 (5,309) - NET CURRENT ASSETS 62,466 - TOTAL ASSETS LESS CURRENT LIABILITIES 64,820 - NET ASSETS 64,820 - FUNDS 14 Unrestricted funds TOTAL FUNDS	2023 Total funds £ 2,354 3,330 50,000 14,445 67,775 (5,309) 62,466 64,820 64,820 64,820 64,820	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

The financial statements were approved by the Board of Trustees and authorised for issue on 8 March 2024 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 2023

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 2023

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.

Going concern

The trustees consider that there are no material uncertainties regarding the charity's ability to continue as a going concern.

2. OTHER TRADING ACTIVITIES

3.

Fundraising events INVESTMENT INCOME Deposit account interest	2023 £ 1,474 2023 £ 24	2022 £ 217
		2022 £ 1

4. INCOME FROM CHARITABLE ACTIVITIES

Included in Income from charitable activities is government grant income of £56,324 (2022: £53,314) received in relation to Nursery Education Grant funding.

5. CHARITABLE ACTIVITIES COSTS

Playgroup Playgroup	2023 Support Direct costs (see Costs note 6) £ £ 96,022 7,632 2022 Support Direct costs (see Costs note 6) £ £ 89,598 5,472	Totals £ 103,654
		Totals £ 95,070

continued...

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Ponsanooth Pre-School Playgroup

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

6. SUPPORT COSTS

Support costs for the year ended 31 March 2023 are as follows:

Support costs for the year ended 31 March 2023 are as follows:
Governance Management costs £ £ Playgroup 1,990 5,642 Support costs for the year ended 31 March 2022 are as follows: Governance Management costs £ £ Playgroup 1,309 4,163	Totals £ 7,632
	Totals £ 5,472

Included within governance costs are fees payable of £1,500 (2022: £1,320) in relation to the independent examination of the financial statements.

7. TRUSTEES' REMUNERATION AND BENEFITS

Mrs C M D Carter, who was trustee during the year ended 31 March 2023 and who is also considered as key management and financial personnel, was paid £3,399 (2022: £5,120) for the provision of bookkeeping and payroll services and grant applications. Pension contributions of £102 (2022: £158) were also made during the year.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

8. STAFF COSTS

Wages and salaries Other pension costs The average monthly number of employees during the year was as follows: Management & Administration Charitable Activities	2023 £ 80,484 2,258 82,742 2023 2 6 8	2022 £ 73,310 2,092
		75,402
		2022 2 5
		7

No employees received emoluments in excess of £60,000.

continued...

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Ponsanooth Pre-School Playgroup

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Charitable activities Playgroup 90,942 - Other trading activities 217 - Investment income 1 - Total 91,160 - EXPENDITURE ON Charitable activities Playgroup 95,070 - NET INCOME/(EXPENDITURE) (3,910) - RECONCILIATION OF FUNDS Total funds brought forward 74,807 - TOTAL FUNDS CARRIED FORWARD 70,897 - 10. TANGIBLE FIXED ASSETS Fixtures Plant and and machinery fittings £ £ COST At 1 April 2022 353 19,111 Additions - 36 At 31 March 2023 353 19,147 DEPRECIATION At 1 April 2022 341 16,021 Charge for year 3 781 At 31 March 2023 344 16,802 NET BOOK VALUE At 31 March 2023 9 2,345 At 31 March 2022 12 3,090 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Trade debtors 1,477 Prepayments and accrued income 1,853 3,330

Total funds £ 90,942 217 1 91,160 95,070 (3,910) 74,807 70,897 Totals £ 19,464 36 19,500 16,362 784 17,146 2,354 3,102 2022 £ 5,794 - 5,794

continued...

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Ponsanooth Pre-School Playgroup

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

12. CURRENT ASSET INVESTMENTS

Concessionary loans	2023 £ 50,000	2022 £ 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.

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors Taxation and social security Other creditors	2023 £ 2,776 376 2,157 5,309	2022 £ 1,817 335 3,249
		5,401

14. MOVEMENT IN FUNDS

Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: r Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS	Net movement At 1.4.22 in funds At 31.3.23 £ £ £ 70,897 (6,077) 64,820 70,897 (6,077) 64,820 Incoming Resources Movement esources expended in funds £ £ £ 97,577 (103,654) (6,077) 97,577 (103,654) (6,077) Net movement At 1.4.21 in funds At 31.3.22 £ £ £ 74,807 (3,910) 70,897 74,807 (3,910) 70,897	Net movement At 1.4.22 in funds At 31.3.23 £ £ £ 70,897 (6,077) 64,820 70,897 (6,077) 64,820 Incoming Resources Movement esources expended in funds £ £ £ 97,577 (103,654) (6,077) 97,577 (103,654) (6,077) Net movement At 1.4.21 in funds At 31.3.22 £ £ £ 74,807 (3,910) 70,897 74,807 (3,910) 70,897
		70,897

continued...

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Ponsanooth Pre-School Playgroup

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

14. 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	91,160	(95,070)	(3,910)
TOTAL FUNDS	91,160	(95,070)	(3,910)

15. EMPLOYEE BENEFIT OBLIGATIONS

During the year, pension contributions of £2,258 (2022: £2,092) were made by the charity. Contributions outstanding at the year end totalled £657 (2022: £609).

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023, other than as disclosed in Note 7 to the financial statements.

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Ponsanooth Pre-School Playgroup

Detailed Statement of Financial Activities for the Year Ended 31 March 2023

INCOME AND ENDOWMENTS Donations and legacies Donations 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 Sundries Governance costs Accountancy and legal fees Subscriptions Total resources expended Net expenditure	2023 £ 1,500 503 2,003 1,474 24 92,223 97,577 80,484 2,258 4,560 262 1,003 200 2,708 331 940 2,492 784 96,022 1,771 185 34 1,990 4,466 1,176 5,642 103,654 (6,077)	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 - 4,163 95,070 (3,910)

This page does not form part of the statutory financial statements

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