Ludwell Valley Early Childhood Centre
Annual Report To 31st August 2022
This report along with the attached financial statements were approved by the Trustees for presentation at the Annual General Meeting of Ludwell Valley Early Childhood Centre.
Signed on behalf of the Trustees by:
Louise Marshall - Chairperson Date: 08/03/23
INCORPORTION AND CONSTITUTION
Ludwell Valley Early Childhood Centre is a registered Charity - 1059948
The Preschool's current constitution was adopted at the Annual General Meeting of June 2015.
PRINCIPLE ACTIVITIY AND OBJECT OF THE CHARITY
The principle activity and object of the Charity is to advance the education of preschool age children. Ludwell Valley lease a building in the Wonford area of Exeter, where qualified and friendly staff provide quality learning and development in a safe, fun environment.
MISSION STATEMENT
Working together to provide quality care and education to create a foundation for lifelong learning.
BENIFITS TO THE COMMUNITY
Our mission is to support and enhance children's development and preschool education, by giving them a caring and nurturing environment to fulfil their full potential. Every child is an individual and develops at their own pace and we pride ourselves on providing each and every child with the inspiration and confidence to believe that they can achieve. Children
in our care learn how to become respectful and moral citizens to aid them in their future.
Education is an essential part of every child’s life, and this is recognised worldwide. Our pre-school educates children in different subjects, teaching them skills and knowledge to assist them throughout their lives. Education teaches children the basic essential life skills, to secure academic achievement and future job prospects, benefiting the lives of everyone. Children that attend our preschool acquire the fundamental values to support their health and wellbeing, which will benefit them but also benefit the public around them, by equipping the children with the capacity of how to understand and operate in the community.
CHAIRPERSONS REPORT
There was a small loss this year but I feel we are still dealing with the impact of the coronavirus pandemic. The preschool, is at the heart of our community and even though my daughter lives far away from the preschool, her son still attends, as the preschool has such a good reputation, they have worked wonders with my grandson, and I can’t thank the staff enough. I’m hoping to see things improve this year, the preschool deserves it.
TREASURERE REPORT
The Preschool had a turnover of £145826.89 and at the end of the year had a small loss of £1546.96, this is not a surprise, the effects of covid are still hitting and with the cost of living rising dramatically I think the preschool has done amazing to get away with such a small loss. Hopefully the negative financial impact that we are seeing will start to even out soon, so the preschool can be in a positive balance next year.
MANAGERS REPORT
It’s been a tough year, there has been a lot of expenditures that were over an above our normal costs, so we have done pretty well considering, again I think the pandemic is still having an effect. The staff have always been positive and worked hard to make sure every child receives the education and start in life they deserve, they are truly wonderful!
We have started to pick up on our number of children this year, so hopefully next year we won’t see a loss. We have put some fundraising ideas together and hopefully we will be able to hold these events soon. As always, the children’s learning and development will always come first at Ludwell Valley and this is something that is always a constant and will never change.
Proft and loss and balance sheet for ludwell Valley Ear
Proft and loss report
| INCOME | EXPENDITURE | ||||
|---|---|---|---|---|---|
| Funding | £ | 107,940.72 | Wages | £ | 114,716.52 |
| Fees | £ | 37,147.92 | HMRC | £ | 15,822.16 |
| Donations | £ | - | Equipment | £ | 5,454.04 |
| Grants | £ | - | Snack | £ | 2,188.26 |
| Milk | £ | - | Fundraising | £ | 8.69 |
| Fundraising | £ | - | Trips | £ | - |
| Misc | £ | 451.98 | Training | £ | 314.40 |
| Interest | £ | 53.94 | PLA/OFSTED | £ | 150.00 |
| Utilities | £ | 5,383.49 | |||
| Refund | £ | 232.33 | Expenses | £ | 2,707.31 |
| Transfer | £ | - | |||
| Resources | £ | - | |||
| £ | 628.98 | ||||
| Total | £ | 145,826.89 | total | £ | 147,373.85 |
| Proft/Loss | -£ | 1,546.96 |
rly Childhood Centre 01/09/2021 31/08/2022
----- Start of picture text -----
Balance sheet
ACCOUNTS Opening cash position 43,280.81
Profit/loss -£ 1,546.96
Closing cash position £ 41,733.85
BANK £ 12,733.85
£ 29,000.00
TOTAL £ 41,733.85
NOTE
THE TWO GREEN NUMBERS SHOULD BE THE SAM
----- End of picture text -----
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ members of
Ludwell Valley Early Years Centre
On accounts for the year ended Set out on pages
31[st] August 2022 Charity no 1059948 (if any)
2
2 (remember to include the page numbers of additional sheets)
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. [The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of [named body]]. Delete [ ] if not applicable.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act,
-
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
-
to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent In connection with my examination, no matter has come to my attention examiner's statement (other than that disclosed below *)
-
which gives me reasonable cause to believe that in, any material respect, the requirements:
-
to keep accounting records in accordance with section 130 of the Charities Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
-
have not been met; or
-
to which, in my opinion, 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: Nicola Hooper
Date: 08/03/2023
IER
1
Name: NICOLA HOOPER
Relevant professional qualification(s) or body (if any):
FMAAT
Address: 21 CHERRY TREE CLOSE EXETER DEVON EX4 5AT
Section B Disclosure
Only complete if the examiner needs to highlight material problems.(E.g. accounting records have not been kept in accordance with s132 of the Charities’ Act 2011 and those accounts do not comply with the requirements of the 2008 Regulations setting out the form and content of charity accounts; any material expenditure or action which appears not to be in accordance with the trusts of the charity; any failure to be provided with information and explanations by any past or present trustee, officer or employee; and any material consistency between the accounts and the trustees’ annual report.)
IER
2
Give here brief details of any items that the examiner wishes to disclose .
IER
3