## **CHARITY COMMISSION REPORT 2021-2022** ## **Section E – Financial Review** Brief Statement of the charity's policy on reserves Cash at bank at the end of the financial year (August 2022) was approximately £14k. We hold a sum in a separate reserve account as recommended by PATA to ensure that we have sufficient funds to pay staff costs/bills should our numbers drop, or we are unable to run for a period of time for any reason. This also ensures we have enough funds to cover any statutory liabilities should we need to dissolve the group, enables us to meet any unexpected expenditure, and also to enable the acquisition of new equipment. We aim to hold at least one terms running costs which we estimate to between £15,000 (Spring Term ) and £27,000 (Summer Term). ## **Optional Information** Little Explorers principle source of funding is through the Government's Nursery Voucher scheme and the invoices from unfunded children. However, we are also in receipt of small sums of money raised by our Committee. Any additional appropriate funding is applied for on an ad hoc basis. ## **Section F – Other Optional Information** This financial year (Aug 2021 – August 2022) has been another difficult year for Little Explorers, but is currently sustainable with a Good Ofsted rating. ## **Spending:** There has been a huge effort to keep spending to an absolute minimum. Sadly two wonderful staff members left us, Melody left us in Sept 2021 and Sally left us in November 2021. However, Becky became Manager and we we were able to re-employ Leah in December 2021, who had left us in August 2021 when her temporary contract came to an end. In April 2022 we increased salaries for all staff. Danea and Leah were increased to meet the National Living Wage. Jackie, Margaret, Julie and Becky were increased by 6.6% to reflect their extra responsibilities. Danea started her maternity leave in April. We were very pleased to have employed Jess and Claire in April 2022. In April 2022 we had an increase to our rent of £30 per month (over 10 months) based on CPI 5.5% +1%. ## **Income:** Little Explorers principle source of funding is through the Government's Nursery Voucher scheme and the invoices from unfunded children. By the end of this financial year we have received £44,545 in funding, a decrease of approximately £6k on the previous year. However invoices have increased by approx. £6k leaving us on a par. The waiting list for September 2022 is healthy and we anticipate being fully booked for the coming year. We were pleased that there were no Covid-19 restrictions on early years settings in terms of opening and we were able to remain open for the whole academic year. The Committee have worked extremely hard to fundraise to help enhance our income. In February 2022 Committee organised a hugely successful quiz night and auction raising in total approx. £1,705. Another approx. £550 was raised by staff and Committee through raffles and competitions. ## **Challenges for coming academic year:** Hopefully COVID-19 is behind us but we continue to operate additional handwashing and cleaning procedures. We must remain mindful of the annual increase in rent for the building. We have a 5 year agreement in place with Prestbury Parish Council for the rent to increase annually in April by CPI +1%. When this was put in place, CPI had historically been very low. However due to the current global situation the rise in CPI for April 23 is forecast to be higher again. **Charity name:** Little Explorers @ Pavilion ## **Receipts and payments accounts for the period** |**Receipts and payments accounts for the period**|**Receipts and payments accounts for the period**| |---|---| |Period start
1st September 2021
Period end da
31s|| |**RECEIPTS AND PAYMENTS**|| ||| |**RECEIPTS**|**Previous year**
**£ p**| |Nursery Education Funding (Free for 3&4)
Nursery Education Funding (New for 2)
Children's fees
Milk refund
Grants (specify) ……………………………
Grant ………………………………………..
Grant ………………………………………..
Fundraising
Donations
Interest
Other receipts
Sub total
Income from the sale of equipment|| |**TOTAL RECEIPTS**
**(A)**|| ||| |**PAYMENTS**|**Previous year**
**£ p**| |Employment costs (gross pay + employer's NIC)
Training costs
Premises (rent, heat etc)
BT & Wif
Subscriptions
Insurance
Administration
Refreshments
Consumables (paint, paper etc)
Premises expenses
Fundraising costs
end of term boogie beats and art
staf uniform
Other
Sub total
Purchases of of equipment and other assets|| |**TOTAL PAYMENTS**
**(B)**|| ||| ## **STATEMENT OF ASSETS AND LIABILITIES** ***Note: cash funds include reserve/contigency/deposit accounts.** Cash funds (agree with the balance of the receipts and payments a/c) **(E)** Debtors (money owed to the charity on the period end date) **(F)** Value of buildings and equipment (current or depreciated value) **(G)** Liabilities (loans and any other money owed on the period end date) **(H)** Net assets **(E-F+G-H)** Signed on behalf of the trustees (committee): Signed…J. Legg Name: Jennife Role: Administrator Date……………………………………….. **Charity number:** 1052304 ## t August 2022 **Current year £ p** 43,826.45 - 18,324.81 - - 192.70 - 2,537.50 505.00 - - 65,386.46 - **£65,386.46** PATA Covic grant **Current year £ p** 47,107.07 449.29 4,797.84 835.34 1,077.68 728.60 - - 1,033.56 376.85 508.48 280.00 - 167.45 57,362.16 769.10 **£58,131.26** - **£7,255.20** - ## **£7,255.20** **Current value £ p** 40,542.91 - 25,075.00 - **£65,617.91** r Legg ## **Independent examiner's report on the accounts** ## **Section A Independent Examiner’s Report** **Report to the** Charity Name **trustees/ members** LITTLE EXPLORERS @PAVILION **of On accounts for the** 31 AUGUST 2022 **Charity 1052304 year ended No.** **Set out on pages** 1-2 (remember to include the page numbers of additional sheets) I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended **31 / 08 / 2022** . **Responsibilities and** As the charity trustees of the Trust, you are responsible for the **basis of report** 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 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. **Independent** I have completed my examination. I confirm that no material **examiner's** matters have come to my attention (other than that disclosed **statement** below *) in connection with the examination which gives me cause to believe that in, any material respect:  accounting records were not kept in accordance with section 130 of the Act or - the accounts do not accord with the accounting records I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. - _Please delete the words in the brackets if they do not apply._ **Signed:** **Date:** 19/06/23 **Name:** STUART MASON 1 **IER** **October 2018** **Relevant** FELLOW CHARTERED ACCOUNTANT (FCA) **professional** I c a e w **qualification(s) or body (if any):** **Address:** 23a Finchcroft Lane, Prestbury Cheltenham GL52 5BD ## **Section B Disclosure** Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). 2 **IER** **October 2018** ## **Give here brief details of any items that the examiner wishes to disclose** . 3 **IER** **October 2018**