Charity registration number.. 1063187 Tot's Pre-school Annual Report and Financial Statements for the Year Ended 5 April 2024
Tot's Pre-school Contents (continued) Reference and Administrative Details Trustees, Report Statement of Trustees, Responsibilities Independent Examiner's Report Statetnent of Financial Activities Balance Sheet Notes to the Financial Statements 8t0 16
Tot's Pre-school Reference and Administrative Details Chairman Reanna Marshall Truslees Jordanne Ford Dawm Petty Sammie Riley M&xine Scott Lisa Watling 1063187 Charity Registration Number Principal orrice CIO The Bewbush Academy Dorsten Place cra'leY West Sussex RHII 8XW Independent Examiner Blacknian Terry Accountants Ltd Bolney Place Cowfold Road Bolney Hay.ardS Heath West Sussex RH17 5QT Page I
Tot's Pre-school Trustees, Report The trustees present the annual report together with the financial statements of the charity for the year ended 5 April 2024. Objectives and activities Public benefit The charity's aim is to enhance the development and education of children under statutory school age. The object is achieved by the maintenance and management of a pre-school facility in the Bewbush area of Crawley West Sussex. There have been no changes on the objects in the past year. The trustees confirm that they have complied with the requirements of section 17 of the Charitie5 Act 201 I to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Structureg governance and management Nature ofgoverning documen¢ The organisation is a Registered Charity governed by the model rules issued by the Pre-school Leaming Alliance. The legal and administrative infonnation set out on page I fornis part of this report. The flnancial statements comply with current statutory requirements and the Statement of Recommended Practice Accounting and Reporting by Charities. Organisalional struclure The committee members of this charity are its trustees for the purpose of charity law and are referred to as trustees throughout this report. The committee members are elected each year at the AGM and serve until the AGM of the follom'ing year. The committee meet regularly for the purpose of dealing with the charities affairs and to receive reports from its oificers. Financial instruments Objeclives andpolicie The charitv's activities expose it to a number of financial risks including credit risk. cash floTh risk and liquidity risk. The use of financial derivaiives is governed by the charity's policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instrnments for speculative purposes. Ca5hflow risk The charitv's activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward Contracts and interest rate swap contracts to hedge these exposures. Interest bearing assets and liabilities are held at fed rale to ensure certainty of cash flows. Page 2
Tot's Pre-school Trustees, Report {continlled) Credit risk The charity's principal financial assets are bank balances and cash. trade and other receivables. and investinents. The charitv's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairnlent is made where there is an identifled loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial inslrnments is limited because the counterparties are banks with high credit-ratings assigned by inlemational credil-raling agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers. Liquidity risk In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-tenn and short-terni debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements. 05109124 The annual report was approved by the trustees of the charity on .................... and signed on its behalf by: Dawn Petty Trustee Page i
Tot's Pre-school Statement of Trustees, Responsibilities The trustees are responsible for preparing the trustees. report and the financial statement5 in accordance with the United Kingdom Accounting Standards (United Kingdom Generdlly Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to= select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charitie5 SORP- make judgements and estimates that are reasonable and prudent- state whether applicable accouniing standards have been followed. subject to any material departures disclosed and explained in the financial $teMentS- and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounling records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008. and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the mainlenance and integrity of the corporate and fmancial inforniation included on the chariiable companv's website. Legislation governing the prepardtion and dissemination of financial statements may differ from legislalion in other jurisdictions. 05109124 Approved by the trustees of the charity on .................... and signed on its behalf by: Dawn Petty Trustee Page 4
Tot's Pre-school Independent Examiner's Report to the trustees of Tot's Pre-sehool I report to the trustees on my examination of the accounts of Tot's Pre-school for the year ended 5 April 2024. Responsibilities and basis of report As the charity trustees of Tot's Pre-school 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 Tot's Pre-school's account5 carried out under section 145 of the 201 l Act and in carrying out my examination I have followed all the applicable Direction5 given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement I have completed my examination. I confinn 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 Tot's Pre-school 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 accountiTJg requirements concerning the fonn 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 15 not a matter considered as part of an independent examination. I have no concern5 and have come acr055 no other matters in connection with the examination to which attention should be draw in this report in order to enable a proper understanding of the account5 to be reached. Blackn]an Terry Accountants Ltd ACCA Bolney Place Cowfold Road Bolney Haywards Heath West Sussex RH17 5QT 0510912024 Page 5
Tot's Pre-school Statement of Financial Aetivities for the Year Ended 5 April 2024 Unrestricted runds Total 2024 Note Income and Endowment5 from: Donations and legacies Operating income of school 859 222,528 859 222,528 Total income 2?3,387 22J,387 Expenditure on: Operating costs of school Administrative expenditure (184.100) (1?,341) (184,100) (12,341) Total expenditure (196.441) (196,441) Net income 26,946 26,946 Net movement in funds 26,946 26.946 Reconcilialion of funds Total funds brought forward 48,064 48,064 Total funds Caled forward 75,010 Unrestricted funds 75,010 Total 2023 Iyote Income and Endowments from: Donations and legacies Other income 805 190,728 805 190,728 Total income 191,5J) 191,53) Expendilure on: Raising funds Charitable activities (157.738) (10,677) (157,7J8) (10,677) Total expenditure (168.41i} (168,415) Net income 23,118 23,118 Net movement in funds 23,118 23,118 Reconciliation of funds Total funds brought forward 24,945 24,945 Total funds Caled forward 48,063 All of the charity's activitie5 derive from continuing operation5 during the above two periods. The funds breakdown for 202J is shoMTr in note l J. The notes on page5 8 to 16 form an integral part of these financial statements.
Tot's Pre-school (Registration number: 1063187) Balance Sheet as at 5 April 2024 2024 2023 Note Fixed assels Tangible assets 6,025 6,478 Current assets Debtors Cash at bank and in hand io 2.410 69,716 2,086 72,126 43,322 Creditor5: Amount5 falling due within one year 12 (),141) (1,737) Net current assets 68,985 41,585 Net assets 75,010 48,063 Funds of the charity: Unrestricted income funds Unrestricted funds 75,010 Total funds 13 75,010 The financial statements on pages 6 to 16 were approved by the trustees, and authorised for issue on 05109124 and signed on their behalf by= Dawn Petty Trustee The notes on page5 8 to 16 form an integral part of these financial statements.
Tot's Pre-school Notes to the Financial Statements for the Year Ended 5 April 2024 l Accounting policies Statement of compliance The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019. the Financial Reporting Standard applicable in the United Kingdom and Republic of Iland (FRS 102) and the Charities Act 2011. Basis of preparation Tot's Pre-school meets the definition of a public benefit entity, under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention wilh items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. Going concern The trustees consider that there a no material uncertainties about the charity's ability to continue as a going concern. Income and endowments Volunlary income including donations. gifts. le£acies and grdnls that provide core funding or are of a general nature is recognised 'hen the charity has entiilement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability. Donalions and legacies Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that categorv. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spenL and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Raisingfunds These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audiL strategic management and trustees meetings and reimbursed expenses.
Tot's Pre-school Notes to the Finaneial Statements for the Year Ended 5 April 2024 (continued) Taxation The charity is considered to pass the tests sel out in Paragrdph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly. the charity is potentially exempt from taxation in respect of income or capitsl gains received withln categories covered by Chapter J Part I l of the Corporalion Tax Aci 2010 or Section 256 of the Taxatioi) of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed assets costing £0.00 or more are initially recorded at cosL less any subsequent accumulated depreciation and subsequent accumulated impairnient losses. Depreciation and amortisation Depreciation is provided on tangible fjxed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as folloM's= Asset class Depreciation method and rate Evenly over the ienn of the lease- straight line 25 /• reducing balance Leasehold improvements Equipment Trade debtors Trade debtor5 are amounts due from customers for Tnerchandise 501d or Services performed in the ordinary course of business. Trade debtors are recognised inilially at the transaciion price. They are subsequently measured at amortised cost using the effective interest Metho less provision for impairment. A provision for the impairn)ent of trade debtors is established 'hen ihere is objective evidence that ihe charity will not be able to collect all amounts due according to the original terms of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-tenn highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Borrowings Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost. with the difference between the proceeds, net of transaction costs. and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrom'ing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowing5 are cla55ified a5 current liabilities unless the charity has an unconditional riJt to defer settlement of the liability for at least twelve months after the reporting date. Page 9
Tot's Pre-school Notes to the Finaneial Statements for the Year Ended 5 April 2024 (continued) Fund struclure Unrestricted income funds are general funds thal are available for use at the trustees discretion in furtherance of the objectives of the charity. Financial instruments Classification Financial assets and fmancial liabilities are recognised when the charity becomes a paty to the contractual provisions of the instrument. Financial liabilities and equity instrumeTtts are classified according to the substance of the contractual arrangements entered into. An equity. instruTnent is any contract that evidence5 a residual interest in the assets of the charity after deducting all of its liabilities. Recognilion and measurement All financial assets and liabilitie5 are initiallv measured at transaction price (including transaction costs), except for those financial asset5 classified as at fair value through profit or1055. M,hich are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the aangement constitutes a financing transaction. If an arrangement constitute5 a financing transaction, the financial asset or financial liability is measured at the present value of the future pavments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabililies are only offset in the statement of financial position ..hen. and only when there exists a legally enforceable riohi io set off the recognised amounts and the charity iTJtends either to settle on a net basis, or to realise the asset and settle ihe liability simultaneously. Financial assets are derecognised 'hen and only when a) the contractual rights to the cash flows from the financial asset expire or are settle(L b) the charity transfers to another part>, substantially all of the risks and rewards of ownership of the financial asset, or c) the charity. despite having retained some, but not all, significant risks and rewards of ownership, has trdnsferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. Page 10
Tot's Pre-school Notes to the Finaneial Statements for the Year Ended 5 April 2024 (continued) Debl instruments Debt instruments 'hICh meet the following conditions are subsequently measured at amortised cost using the effective interest method: (a) The contractual retum to the holder is (i) a fixed amounl- {ii) a positive red rdte or a positive variable rate; or (iii) a combination of a positive or a negative fixed rdte and a positive variable rdte. (b) The contract may provide for repaymenls of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leverdged. (c) The contract may provide for a deterniinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than ( l) a change of a contractual variable rate- (2) to protect the holder against credit deterioration of the issuer- (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (li) the new rate is a market rate of interest and satisfies condition (a). (d) There is no contractual provision that could. by its tern15. result in the holder105ing the principal amount or any interest attributable to the current period or prior periods. (e) Contractual provisions that permit the issuer to prepay a debt instrument or pennit the holder to put it back to the issuer before maiurity are not contingent on fulure events. other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer. or lo protect the holder or issuer against Changes in levies applied by a central bank or arising from changes in relevant taxation or law. (fj Contractual provisions may pennit the extension of the terni of the debt instrument. provided that the retu to the holder and any other contractual provisions applicable during the extended tem) satisfy the conditions of paragraphs (a) to (c). Debt instruments that are classified as payable or receivable M'ithin one year on initial recognition and which meet the above conditions are measured at the undiscounled amount of the cash or other consideration expected to be paid or received. net of impainnent. With the exception of some hedoing instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss. Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impainnent. Investments Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairnient. Investments in 5ub5idiarie5 and associates are vneasured at cost le55 impairnient. For investments in subsidiaries acquired for consideration including the i55ue of share5 qualifying for merger relief, c05t is measured by reference to the non]inal value ol the shares i55ued plus fair value of other consideration. Any pretnium is ignored. Pagell
Tot's Pre-school Notes to the Finaneial Statements for the Year Ended 5 April 2024 (continued) Derivalivefinancial inslruments The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes. Derlvatives are initially recognlsed at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activiiies immedialely unless the derivative is designaied and effective as a hedging instrument, in which event the liming of the recognition in statement of financial activities depends on the nature of the hedge relationship. Fair value measuremenl The best evldence of fair value is a quoted price for an idenlical asset in an active market. When quoted prices are unavailable. the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value. the fair value is estimated by using a valuation technique. 2 Income from donations and legacies Unrestricted fund5 General Total funds Donations and legacies. Donations from individuals 859 859 Total for 2024 859 859 Total for 2023 805 805 3 Olher income Unrestricted funds General Total funds Fees and supplies 222,528 222,528 Total for 2024 229,528 222,528 Total for 2023 190,728 190,728 Page 12
Tot's Pre-school Notes to the Finaneial Statements for the Year Ended 5 April 2024 (continued) 4 Expenditure a) Operating costs of school Unrestricted funds General Totsl 2024 Total 2023 Nole Outings Unifornis Wages and salaries Staff training Toys, books and equipment Hire of plant and machinery (Operating leases) Canteen 890 890 910 422 422 799 150,50J 1,323 4,542 150,503 134,665 689 4.542 3.002 2,817 783 Rent Repairs and maintenance 11,744 10,891 11,744 10,891 11,165 2,329 184.100 184,100 157,738 Total Costs 5 Expenditure on charitable activities Unrestricted funds General Total funds Note Governance costs 12,341 12,341 Total for 2023 10,677 10,677 Total expenditure 6 Iyet incomingloutgoing resources Net incoming resources for the year include: 2024 2023 Depreciation of fixed assets 1,672 2,160 Page li
Tot's Pre-school Notes to the Finaneial Statements for the Year Ended 5 April 2024 (continued) 7 Staff costs The aggregate payroll costs were as follows: 2024 2023 Staff cosls during the year were: Wages and salaries Other staff costs 150,50J 134,665 150,813 134,986 The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows: 2024 2023 Total employees 12 No employee received emoluments of more than £60,000 during the year 8 Taxatio The charity is a registered charity and is therefore exempt from taxation. 9 Tangible fixed assets Land and buildings Furniture and equipment Total Cost At 6 April 2023 Additions 2),000 10,415 1.219 33,415 1.219 At 5 April 2024 Depreciation At 6 April 2023 Charge for the year 17,956 1.009 8,981 663 26,937 1,672 At 5 April 2024 18,965 9,644 28,609 Net book value At 5 April 2024 1,990 6,025 At 5 April 2023 6,478 Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of freehold land and buildings and £4,0)5 {?0? J - £5,044) in respect of leaseholds. Page 14
Tot's Pre-school Notes to the Finaneial Statements for the Year Ended 5 April 2024 (continued) 10 Debtor5 2024 2023 Prepayments Other debtors 1.475 935 1,475 611 2,410 2,086 I I Cash and cash equivalents 2024 2023 Cash at bank 69,716 12 Creditors: amounts falling due within one year 2024 2023 Other taxation and Sla[ security Other creditors Accruals ,580 421 1,140 657 1,080 13 Funds Balance al 6 April 2023 Incoming resources Resources expended Balance at 5 April 2024 Unrestricted funds General 48,064 2?3,387 (196.441} 75,010 Balance al 6 April 2022 Ineoming resources Resources expended Balance at 5 April 2023 Unrestricted funds General 24,945 191,533 (168,415) 48,063 14 Analysis of net a55ets between funds Page 15
Tot's Pre-school Notes to the Finaneial Statements for the Year Ended 5 April 2024 (continued) Unrestricted funds General Total funds at 5 April 2024 Tangible fixed assets Current assets Current liabilities 6,025 72,126 (),141) 6,025 72,126 (J,141) Total net assets 75,010 75,010 Unrestricted funds General Total funds at 5 April 2023 Tangible fjxed assets Current assets Current liabilities 6.478 43,322 (1,737) 6,478 43,322 (1,737) Total net assets 48,06) Page 16
Tot's Pre-school Detailed Statement of Financial Activities for the Year Ended 5 April 2024 Total 2024 Total 2023 Income and Endowments from: Donations and legacies (analysed below) Other income (analysed below) 859 2?2,528 805 190,728 Total income 223,387 191,5JJ Expenditure on: Operating costs of school Administrative expenditure (184,100) (12,341) (157,7J8) (10,677) Total expenditure {196,441) (168,415) Net income 26,946 23,118 Net movement in funds 26,946 23.118 Reconcilialion of funds Total funds brought forward 48,064 24,945 Total funds Caled forward 75,010 48,063 This paue does not form part of the statutory financial statements. Page17
Tot's Pre-school Detailed Statement of Financial Activities for the Year Ended 5 April 2024 (continued) Tolal 2024 Total 2023 Donations and legacie5 Appeals and donations 859 805 859 805 Olher income Fees and supplies 222,528 190,728 222,528 190,728 Operating costs ofschool Unifornis Wages and salaries Staff training Toys: books and equipment Hire of plant and machinery (Operating leases) Outings Canteen Rent (422) (150,503) (1,393) (4,542) (J,002) (890} (783) (11,744) (10,891) (799) (134,665) (689) (3,934) (2,817) (910) (430) (11,165) (2,329) Repairs and maintenance (184.100} {157,738) Adminislrative wendilure Staff welfare Insurance Telephone and f&x Printing, postage and stationery Trade subscriptions Charitable donations Cleaning Advertising Accountancy fees Legal and professional fees Bank charges Depreciation of short leasehold property Depreciation of fixtures and fittings (310} (1,830) (1,057) (248} (118) (1,43J) (809} (321) (1,8J3) (124) (118) (40) (586) (324) (2,2J2) (2,016) (60) (1,681) (479) (10,677) (2,438) (2,016) (55) (1,009) (663} (1?,341) This paue does not form part of the statutory financial statements. Page18