Charlty number: 1063711 ST JAMES. PREcHOoL MUSWELL HILL TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Sa ers Butterworth LLP
ST JAMES. PRE4CHOOL MUSWELL HILL Contents Page Reference and adrninistrative details of the charity. its Trustees and advisers Trustees. report Independent auditors. report on the financial statements 10-13 Statement of financial activities 14 Balance sheet 15 Notes to the financial sL2tements 16-27
ST JAMES. PRE-SCHOOL MUSWELL HILL Reference and administrative detsils ot the charity, its Trustees and advisers for the year ended 31 March 2025 Management committee Tamlin Vickers, Chair Maria Lefter, Treasurer Claire Ahlquist, Secretary & CfrTreasurer Rose Fulbright-vickers. Fundraiser Daiva Macionyte, Fundraiser Charity registered number 1063711 Principal officè 171 Fortis Green Road London N10 3BG Website www.stjamespreschool.org.uk Emall info@stjamespreschool.org.uk Independent auditors Sayers Buttetworth LLP Chartered Accountants & Statutory Auditor 3rd Floor 12 Gough Square London EC4A 3DW Bankers Barclays Bank PIC 223 Muswell Hill Broadway Muswell Hill London N10 1DD Manager Tracey Sparks Page 1
ST JAMES. PRE-SCHOOL MUSWELL HILL Trustees. report for the year ended 31 March 2025 The trustees present their report and the audited financial statements of the charity for the year ended 31 March 2025. Structure, governance and management . Structure and govemance St James, Pre-school Muswell Hill (referred to hereafter as 'The Pre-school.), is a charitable unincorporated association. It is run by a committee of parents and community volunteers {the 'Committee"). We follow the constitution laid down by the Pre-school Learning Allian. which defines the roles of the Committee. The Constitution was updated at the Annual General Meeting (AGM) in September 2014 to reflect the most recent model constitution issued by the Pre-school Learning Allian. The Pre-school is answerable to Haringey Council and to the Charity Commission and is regulated by Ofsted. b. Trustees The AGM took place on 24th September 2024. The Chair and Secretary stayed on from last year's Commitlee and new trustees were re-elected. The Committee meets once a term and twice a term if anything urgent arises. Laura Betts, our Bursar, has been with us for seven years. c. Management The Pre-school has a solid senior management team led by Tracey Sparks, Manager and Charlotte Baker, Deputy Manager. Charlotte is responsible for Health and Safety, deputising for Safeguarding when the manager is off the premises. Tracey is the SENCO. Special Educational Needs COrdinatOr. and the Designated Safaguarding Laad. The staff provide a very high level of care and edU¢tKIn. and the children continue to benefit from their experience and enthusiasm. Since the Covid-19 pandemic we prioritised the use of the outdoor areas and the hall space. We conlinue to start the day in this area and parents do not enter the Pre-school gate unless their child needs settling. Constsnt reflection with sufficient adull-led and child-initiated leaming helped the children to leam and develop in a safe and happy environmenl. Continued professional development enhances the overall effectiveness and service provided. Staff metnbers partake in online training sessions. with ideas being cascaded al staff meetings and implemenled. OBJECTIVES AND ACTNITIES a. Objectives Our objective is to promote a safe and stimulating environment for the educational, emotional and personal development of 2 to 4year-olds. We encourage the growth of spiritual and moral values based on the Christian faith by maintaining a well-disciplined, yet happy and nurturing environment, that is inclusive and respects diversty. Our vision is to provide a holistic environment where children thrive and are confident. They are provided with challenges which stimulate and support their developmenL We were successfully inspected by Ofsted in June 2024. Our outcome was Gocxl. Page 2
ST JAMES. PRE-SCHOOL MUSWELL HILL Trustees. report (continued) for the year ended 31 March 2025 OBJECTIVES AND ACTIVITIES (continued) b. Main activities for the public benefit We aim to ensure that all sections of our community have asS to PrSchool Ihrough open, fair, and dearfy communicated procedures. Children from less financially able households are being subsidised and supported by Pre-school as part of our commitment to inclusiveness. We welcome all families whatever their belief, gender, ra, ability or other protected characteristics. The Pre-school is a member of the Earfy Years Alliance and we seek to further its aims through our work. We follow carefully the Earfy Years Foundation Stage (EVFSI framework and the four themes of the EYFS development matters and the principles that inform them. Each child's learning and development is unique. All are supported to be effective and motivated leamers, through developing the Characteristics of Effective Learning. The Committee and staff have given careful consideration to the Charity Commission's general guidance on public benefit and have complied with their duty in respect of Section 17 of the Charities Act 2011. We continue to have a church member of St James, Church on the Board of Trustees. ACHIEVEMENTS AND PERFORMANCE . Outstanding achievements throughout the year include: Meeting the needs of the children Over the rent period, our focus has remained steadfast on fostering social and emotional skills among our children, with a particular emphasis on Speech, Language, and Communication development. We believe that these foundational skills are essential for encouraging confident inleractions and effective leaming. To support this, we have enhanced our leaming environment by upgrading Ihe home comer and modemising the role-play area. These improvement5 create richer opportunities for imaginative play and social interaclions, reinforcing a plabaSed ethos thal is central to our curriculum. Such aclivities are especially beneficial in meeting the needs of children wtth EAL (English as an Addilional Language> and those experiencing other difficulties, providing a supportive context for language development. Our cosy corner continues to see as a safe space for children to self-regulate, with adult support available when needed, enabling children to develop emotional resilience and independence. In outdoor leaming. the area was maintained and improved over the summer holidays. Children now benefit from our refurbished sandpit and new equipment, which enhance water play opportunities and outdoor engagemenL These resources promote physical activity, sensory exploralion, and social inleraction. Furthermore, we have allocaled time for physical development in the hall, where children enjoy activities that challenge their coordination and balance. Recently. we introdud new balance bikes, offering both a physical challenge and a chance to build confidence and motor skills. To support social and emotional development for all children including those on the autism spectrum, we implemented weekly Lego therapy sessions as a small group InteentiOn. This play-based approach has proven beneficial in helping children develop social confidence and collaborative skills and has also supported other children that need support in other areas. Additionally, we successfully applied for Iop-up funding lo acquire specialised equipment tailored to individual needs, further enhancing the support provided for a child that has been diagnosed with Aukn'sm. Page 3
ST JAMES. PRE-SCHOOL MUSWELL HILL Trustees. report (continued) for the year ended 31 March 2025 ACHIEVEMENTS AND PERFORMANCE (continued) In summary. our ongoing initiatives aim to create a nurturing. stimulating environment that promotes holistic development and caters to the diverse needs of our children. With the introduction of free childcare for tw(Fyear-olds. our pre-school has expanded its scope, curriculum. and teaching stralegies to accommodate the rising twos. While this transition presented initial challenges-particulady from a health and safety perspeCtiVe have successfully incorporated this age group into our educational framework. Al first. adapting our SPaS and practIS to meet the developmental needs of younger children required careful planning. Ensuring a safe leaming environment demanded adjustmenls to dassroom layouts, supervision strategies, and risk assessmenls. Praclitioners also had to modify their approaches to support early childhood leaming, foslering engagernent through plabaSed methods and sensory aclivilie5. Despite these initial hurdles, the integration of Iwf>year-olds has enriched our leaming environment. Their irbclusion has encouraged innovation in teaching. strengthened earty leaming foundations. and reinforced the importance of structured yel flexible education. As we continue refining our approach, we aim to provide a nurturing experience that supports their growth and development. Meeting the needs of Ihe staff and Community Professional development and staff wellbeing Our preschool remains committed to fostering professional growth among our team. Notably: SENCO Role: Anna Markou, who led our speaal educational needs (SEN) initialives until her retirement in August 2024, sel the foundation for ongoing support. Following her departure, our Manager, Tracey, qualified in September 2024 with a CACHE Level 3 Award in Special Educational Needs Coordination and resumed the SENCO responsibilities. Continuous Leaming: Our Deputy, Charfotte. qualified as a SENCO in March 2025. and Laura qualified as a SENCO in July 2025. External Support: sin September, we've successfully integrated Lego Therapy, provided by extemal specialists, lo enhance our children's development and our team's skill set. Trainee Practitioners: We welcomed Kate as a Trainee Practitioner in September, following her volunteer experience and her six months at the preschool. She is expected to graduate with Qualified Teacher Status (QTS) in September 2025 and will be offered a permanent practitioner role. Volunteer Support.. Additionally, a dedicated parent volunteer, planning to complete her Level 3 qualification by September 2025, has contributed valuable support and menlorship within our setting. Our focus on professional development ensures that we continue to provide high-qualily ea years education. Ofsted commented (July 2024)., "The dedicated manager and her equally committed team welcome children warmly into an exciting and invib.ng play environmenL They work hard and invest time in geth-ng to know the children and their families before children attend. The qualified and experienced team ensure children make good progress. The quality of teaching is gocMI. The nurturing and attentive staff plan a challenging and ambitious curriculum around the children's interests. They build on what children already know and what they needtolearn next. Children demonstrate they are curious and keen to try new things. Staff plan many opportunities for children to explore sensory resources and support them to challenge themselves through their play. Staff are good rcAe models. They encourage children to be kind, safe and helpful. This underpins how children are supported in regulating Iheir own emotions and behaviours.. Page 4
ST JAMES. PRE-SCHOOL MUSWELL HILL Trustees. report (continued) for the year ended 31 March 2025 ACHIEVEMENTS AND PERFORMANCE (continued) Partnership with parents and caregiver5 We have strengthened our relationships with families through initiatives such as coffee mornings, which allow us to discuss children's progress and needs openly. Recognizing the Importan of language development, we actively participate in the Haringey-led Leep program. fostering a language-rich environment through strategies shared wilh parents. Our communications have improved with an updaled newsletter, supported by a parent volunteer, providing insights into leaming achievements and future plans. We continue to foster good relationships with weekly tapeslry updates. temily face to face meetings. which update parents on their child's development. Our website has been refreshed and is more infomiative and signposting parents to useful websiies. Community angagemenl remains central to our ethos.. Parenl-led Activities= Parents have engaged in sessions sharing their expertise-such as a classical rnusic concert featuring violin and viola, and a slorytelling session in Russian. Iranslaled for wider understanding. Health and Wellbeing.. A dental nurse visited to share oral health lips. supporting our efforts to promote wellbeing. other Investments and community contributions Lego Therapy: Continues to be a vital part of our enrichmenl program, promoting collaboration, social skills, listening, and attention. Outdoor Environment.. We invesled in maintaining our outdoor garden. induding roof repairs over Ihe sandpit during summer, lo enrich children's outdoor leaming experien5. Our commitment to community is evident through various activities.. Collection drives for Chrislmas hampers supporbng vulnerable families. with visits io elderly care homes to sing and share feslive cheer. Donations for Harvest Festival were collected and donated to a local soup kitchen in September. These events support our Christian elh05 at our pre-school. Inclusion and resources= In line with our priority on indusion, we have purchased new resources, induding a kitchen for the home comer, funded by a generous parent donation that was further supported by match funding. These resources support a child receiving top-up funding from September 2024. enabling tailored support, with occasional One-lOne assistance. b. Number of children The summer term saw full capacity, maintaining high occupancy excepl on Fridays. Following the introduction of funding for 2-yearryolds in April 2024, we increased our places to accommodate more young learners, although initial capacity limits restricted some admissions. Capacity and Growth". In September, admissions were notably higher than the previoLJS year, wth numbers steadily increasing during the autumn and spring terms. Additional Support.. Stsffing adjustments, leveraging part-time staff and longstsnding supply teachers, supported the increased demand, induding one child attending our Breakfast Club. Page 5
ST JAMES. PRE-SCHOOL MUSWELL HILL Trustees. report (continued) for the year ended 31 March 2025 ACHIEVEMENTS AND PERFORMANCE (continued) Children's activities and enrichment December 2024 Hi hts Nativity Play- The children proudly performed in our annual Nativity Play held at The Pre-school Hall. This event provided an excellent opportunily for parents to meet and engage wth staff and other families. The celebralion included festive refreshments. a visit from Santa Claus, and a small ftjndraising activity to support pre-school initiatives. Christmas Experien at St James, Church: Our pre-schcM)I families attended an interactive storyielling session recounting the birth and life of Jesus. This engaging activity helped chil(iren and parents explore Christmas traditions in a meaningful way. Communit Visits & Worksho Fire Station Visit: Children had a chance to explore and leam about fire safety and emergency setvices. Police Visit: Local officers visited to introduce children to community safety roles. Wikl Science Workshop.. An exciting session where children encountered unusual reptiles, mammals, and amphibians, fostering curiosity about nature. Chick Hatching Experience.. Over a fortnight, the children observed and handled chicks hatching, providing hands-on animal care experien. Autumn Term Enrichment Music Program: A 12-week music initiative where children enjoyed leaming new songs and rhythrn. Natasha from Jumping Beans played the mandolin. enriching children's musical awareness and enjoyment. rin Term Drama Sessions.. Focused on encouraging imagination. language development, and confidence through small group drama activities, allowing children to express themselves creatively. Annual Wheelie Ride.. Our sponsored Wheelie Ride was a tremendous success. raising funds to support pre- school resources and activities. Summer Temi Enjoy a Ball Sessions= Regular sessions featuring fun games to develop ball skills. coordination. and phyEical confidence. Children practiced throwing, rolling, and using equipment like frisbees and hoops, guided by instructor Madz, who emphasized lislening skill. persistence and a fun. joyful experien. FINANCIAL REVIEW . Overview For the financial year ended 31 March 2025 the accounts reflect a surplus of £23,443. The Statement of Financial Activities shows a totsl income of £208,787 and total expenditure of £185,344. Page 6
ST JAMES. PRE-SCHOOL MUSWELL HILL Trustees. report (continued) for the year ended 31 March 2025 b. Reserve fund In the event of a signrficanl drop in funding, Ihere are enough reserve funds to continue the Charitys current activities while consideration is given to ways in vthich additional funds may be raised. This year Pre-school contingency fund has remained at £37,500. This is the equivalent of three months, salaries and employer's national Insuran plus core costs such as rent and utililies. The Reserve Fund remains within The Pr&School easy access account. We also have £6,057 in our Fund for New Equipment and £5,774 in our Special Projects Fund. Funding Our main source of income comes from the govemment's 15 and 3(khour funding for eligible children. In summer 2024 Haringey Funding rate was increased from £5.81 to £6.01 for 3 to 4 year-old and from £9.18 to £9.28 for 2 year-old. From September 2024 our fees wenl up from £9 to £9.50. We received a SENCO ToTrup Grant, for one child amounting to £1,722. We reiVed £7,000 (£4,083 in this financial year) from &Qualitas for a practitioner to undertake a Qualified Teacher Status programme. this partnership programme has been very successful and has covered part of her salary and cover when undertaking her training at primary schod and a nearby nursery. Through fundraising, donations and Gift Aid we raised £17,789. In 24125 financial year, we have received a generous donation of £4,500 from a parent. This amount was also matched by her company amounting to the total of £9,000 and Grft Aid. Fundraising activities induding summer and winter raffles generated £1,620 during the year. d. Expendilure The Pre-school continues to be mindful of the need to manage costs but has been able to invest appropriately in areas that we consider critical to achieve our objective of providing a stimulating leaming environment fDr the children. This has included Enrichment Activities (Entertainment) throughout the year at a cost of £3,123. Staff have undertaken mandatory training costing £871.50. This year rent went up in Sept from £600.00 per month to £728.00 per month. From July 2024 utilities decreased from £321.53 10 £304.44 per month. e. Monitoring The Committee monitors incoffle and expenditure against the budgel carefully every half-term. FInanS are discussed at finance meetings attended by the Bursar, Treasurer, Co-Treasurer. Chair and Manager. The outcomes of these meetings are reported by the Treasurer and Bursar at the following Committee meeting. Salary reviews and budget reviews have all been decided at separate meetings and then agreed at Commitlee meetings. Page 7
ST JAMES. PRE-SCHOOL MUSWELL HILL Trustees. report (continued) for the year ended 31 March 2025 PLANS FOR FUTURE PERIODS The Pre-school has finished the year with a surplus of £23,443 The Prtrschool committee needs to monitor the impact of this fee structure in terms of the number of registered children and importantly how many hours they attend. The Pre-school will continue to closely monitor the fee structure lo ensure it remains indusive, open and transparent to parents. The Committee gave much consideration to awarding the 3Yo pay rise from April 2025. This is a below inflation pay rise and the decision was made after care1 consideration of our finances. Three staff members who need to travel by car to work were offered a 500/0 reimbursement of their parking permit costs. This will continue to be reviewed on an annual basis. From summer 2025 rent and utilities will incxease to £754 and £307.89 respectively. STATEMENT OF TRUSTEES. RESPONSIBILMES The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practi (United Kingdom Accounting Standards and applicable law). The law applicable to chartlies in England & Wales reqUIS Ihe Trustees lo prepare financial slalemenls for each financial period which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources. including its income and expenditure. for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistendy- obseNe the methods and principles of the Charities SORP {FRS 102)- make judgments and accounting estimates that are reasonable and pnjdent., stsle whether applicable UK Accounting Standards {FRS 102) have been followed, subject to any material departures disdosed and explained in the financial statements. prepare the financial stalements on the going concem basis unless it is inappropriate to presume thal the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that disdose with reasonable accuracy at any time the financial posikn'on of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity {Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They 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. In so far as the trustees are aware- there is no relevant audit information of which the charitys auditor is unaware., and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit infomiation and to establish that the auditor is aware of that information Page 8
ST JAMES. PRE-SCHOOL MUSWELL HILL Trustees. report (continued) for the year ended 31 March 2025 Approved by order of Ihe members of the board of Trustees and signed on their behaff by.. Tamlin Vicker5 Ioct 10, 2025 11=42.'38 GMT+il l.Lefter 'Oct I 2025 11.-14.'57 GMr+ii Tamlin Vickers Chair of Committee Date: 1011012025 Maria Lefter Treasurer Page 9
ST JAMES. PRE-SCHOOL MUSWELL HILL Independent auditors. report to the Members of St Jarnes. Pre4chool Muswell Hill Opinion We have audited the financial stalements of St James, Pre-school Muswell Hill (the 'charity'l for the year ended 31 March 2025 which comprise the Statement of financial activtties, the Balance sheet and the relaled noles, including a summary of significant accounting policies. The financial reporting framework thal has been applied in their preparation is applicable law and Untled lQngdotn Accounting Standards. induding Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practi). In our opinion the financial statements= give a true and fair wew of the state of the charivs affairs as at 31 March 2025 and of ils incoming resources and applicalion of resources for the year then ended" have been properly prepared in accordance wtth United Kingdom Generally Accepted Accounling Practice,. and have been prepared in aCcOrdar) with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing IUKI {ISAs {UKI) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom. induding the Financial Reporting Council's Ethical Standard. and we have fulfilled our other ethical responsibilities in accordan wilh these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In audiling the financial statements. we have conduded that the Trustees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the chariils ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees wlh respect to going concern are described in the relevant sections of this report. Page 10
ST JAMES. PRE-SCHOOL MUSWELL HILL Independent auditors. report to the Members of St James. Prechool Muswell Hill {continued) Other information The other information comprises the infomation included in the Annual reporl other than the financial statements and our Auditors, report Ihereon. The Trustees are responsible for Ihe other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise expliciuy stated in our report. we do not express any form of assurance condusion Ihereon. Our responsibility is to read the other infomiation and. in doing so. consider whether the other information is materially inconsistent with Ihe financial statements or our knowledge obtained in the course of the audit, or olherwise appears to be materially misstated. If we identify such malerial inconsistencies or apparenl material misslatemenls, we are required to detemine whether this gives rise to a malerial misstatement in Ihe financial ststements themselves. If, based on the work we have perfomied, we condude that there is a material misstatemenl of this other information, we are required to reporl that facL We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion= the informalion given in the Trustees. report is inconsistent in any material respect with the financial stslements., or sufficient accounting records have not been kept- or the financial slatemenls are not in agreement wilh the accounting records and retums- or we have not reiVed all the infortnation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Trustees, responsibilities statement set out on page 6, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is neSSary to enable the preparation of financial statements that are free from material misstaternent. whether due to fraud or error. In preparing the financial stalements, the Trustees are responsible for assessing the charitls ability to continue as a going concern, disdosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic aliemative but to do so. Page11
ST JAMES. PRE-SCHOOL MUSWELL HILL Independent auditors. report to the Members of St James. Prechool Muswell Hill {continued) Auditors. responsibilities for the audit of the financial statements We have been appointed as audilor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assuran about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an Auditors, report that indudes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregate, they could reasonably be expected to Influen the economic decisions of users taken on the basis of these financial statements. Irregularities, induding fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, ouuined above, to detect material misstatements in respect of irregularities, including fraud. The exlent lo which our procedures are capable of detects'ng irregularities. including fraud is detailed below.. Discussions were held with, and enquiries made of management and those charged with governance with a view to identifying those laws and regulations that could be expected to have a material impact on the financial stslements. During the engagement team briefing, the outcome of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity. The following laws and regulations were identified as being of significance to the entity- Those laws and regulations conSided to have a direct effect on the financial ststements include UK financial porting standards. It is considered that Complian with Health and Safety regulations, GDPR and Employment legislation may be fvndamental to the operating aspects of the business. Audit procedures undertaken in response to the potential risks relaling io irregularities {which indude fraud and nonwcompliance with laws and regulations) comprised of- inquiries of management and those charged wilh governance as to whether the entity complies with such laws and regulalions,. enquiries with the same conceming any aclual or potenlial litigation or daims., tesling the appropriateness of entries in Ihe nominal ledger, including journal enlries- reviewing transactions around the end of the reporting period., and the performance of analytical procedures to identify unexpected movements in account balances which may be indicative of fraud. No instances of material nonmplIance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entivs controls, and the nature. timing and extent of the audit procedures perfomied. Irregularities that result from fraud mighl be inherendy more difficult to delect than irregularities that resull from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAS {UK>. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.or .uklaudttorsres nsibilities. This description forms part of our Auditors, report. Page 12
ST JAMES. PRE-SCHOOL MUSWELL HILL Independent auditors. report to the Members of St James. Prechool Muswell Hill {continued) Use of our report This report is made s(Aely to the charitys trustees. as a body. in accordance wtlh Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state lo the charity's trustees those matters we are required to state to them in an Auditors, report and for no other purpose. To the fullest extent permitted by law. we do not apt or assume responsibilityto anyone other than Ihe charity and its trustees. as a body, for our audit work, for this rewjrt. or for the opinions we have formed. Sayers BUtteOrth LLP Chartered Accountants & Statutory Auditor 3rd Floor 12 Gough Square London EC4A 3DW Date= 1011012025 Sayers Butterworth LLP are eligitAe to act as auditors in terms of section 1212 of the Companies Act 2006. Page 13
ST JAMES. PRE-SCHOOL MUSWELL HILL Staternent of financial activities for the yearended 31 March 2025 Restricted Unrestricted funds funds 2025 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and capilal grants Charitable activities Other trading activities Investments 16.170 190.078 1.620 919 16.170 190.078 1.620 919 8,491 161,356 6,287 737 Total income 208.787 208,787 176,871 Expenditure on: Raising funds Charitable activities 70 70 600 184,674 185,274 169,004 Total expenditure 600 184.744 185.344 169,004 Net movement in funds (600) 24.043 23.443 7,867 Reconciliation of funds: Total funds brought forward Net movement in funds 4,800 (600) 151,260 24,043 156,060 23,443 148, 193 7,867 Total funds carried forward 4.200 175.303 179.503 156,060 The Statement of financial activities indudes all gains and losses reccwjnised in the year. The notes on pages 16 to 27 fomi part of these financial statements. Page 14
ST JAMES. PRE-SCHOOL MUSWELL HILL Balance sheet as at 31 March 2025 2025 2024 Note Fixed assets Tangible assets 8,985 9.585 8.985 9,585 Current assets Debtors 10 13,823 166.361 4,266 152,323 Cash at bank and in hand 180.184 156,589 Creditors- amounts falling due within one year 11 {9.666) (10, 114) Net current assets 170,518 146,475 Total net assets 179,503 156,060 Charily funds Restricted funds 12 4,200 175.303 4,800 151,260 Unrestricted funds 12 Total funds 179,503 756,060 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Tawli4 Vickeks Tamlin Vickers (Oct LO, 2025 11-42..38 GMT+ll M.Lefter (Oct I ?025 11.'14.'57 GMT+il Tamlin Vickers Chair of Committee Date: 1011012025 Maria Lefter Treasurer The notes on pages 16 to 27 fom part of these financial statements. Page 15
ST JAMES. PRE-SCHOOL MUSWELL HILL Notes to the financial statements for the yearended 31 March 2025 Accounting policies 1.1 Basis of preparation of financial staloments The financial statements have been prepared in accordance with the Charities SORP IFRS 1021- Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective 1 January 2015), Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Acl 2011. The financial statements have been prepared to give a 'lrue and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fairf view. This departure has involved following the Charities SORP (FRS 1021 published on 16 July 2014 rather than the Accounting and Reporting by Charities: Ststement of Recommended Praclice effective from 1 April 2005 which has Sin been withdrawn. St James, Prtrschool Muswell Hill meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otheiSe stated in the relevant accounting policy. 1.2 Fund structure General funds are unrestricted fvnds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted fijnds are funds which are to be used in accordan with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific funds. The aim and use of each restricted fund is set out in the notes to the financial statements. 1.3 Incoming resources All incorne is recognised once the charity has entiuement to the income. it is probable that the incorne will be received and the amount of income receivatrAe can be measured reliably. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes bLrt not expended during the period is shown in the relevant funds on the Balance sheeL Where income is received in advance of entitlement of receipt. its recognition is deferred and induded in creditors as deferred income. Where entitlement occurs before income is reived, the income is accrued. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Grants receivable where related to performance and specific deliverables. are accounted for as the charity eams the righl to consideration by its performance. Where income is reiVed in advance of ils recognition il is deferred and induded in creditors. Where entiljement occurs before income being received. the income is accrued. Inleresl on funds held or) deposit is induded when re1vable and the amount can be measured reliably by the charity- this is normally upon notification of the interest paid or payable by the bank. Page 16
ST JAMES. PRE-SCHOOL MUSWELL HILL Notes to the financial statements for the yearended 31 March 2025 Accounting policies (continued) 1.4 Resources expended and irrecovorable VAT Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable activities and Governance cosls are costs incurred on the charitls operations, including support costs and cosls relaling to the govemance of the charity apportioned to charitable activilies. Expenditure is accounted for on an accruals basis and has been included under expenses categories that aggregate all costs for allocation to activities. Where costs cannot directly be attributed to particular activities, they have been allocated on a basis consistent with the use of resources. Irrecoverable VAT is charged against the category of resources expended for which it was incurred. 1.5 Costs of generating funds The costs of generating funds are those costs attributable to generating income for the charity, other than those costs incurred in undertaking tharitsble activities or the costs incurred in undertaking trading activities in furtherance of the charitys objects. The costs of generating fvnds represent fundraising cosls, induding expenses for fundraising activities. 1.6 Charitable activities Costs of charitable activilies comprise all costs incurred in the pursuil of the charitable objects of the charity. 1.7 Governance costs Governance costs comprise all costs attributable to ensuring the putAic accountsbiliiy of the charity and its compliance with regulation and good practice. These costs indude costs related to audit fees together with support costs. 1.8 Governmenl grants Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the rdated expenditure is incurred. 1.9 Tangible fixed assets and depreciation Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cosL Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over Iheir estimated useful lives. on the followng basis=. Depreciation is provided on the following basis= Leasehold Improvements 10% straight line Page 17
ST JAMES. PRE-SCHOOL MUSWELL HILL Notes to the financial statements for the yearended 31 March 2025 Accounting policies (continued) 1.10 Debtors Trade and other debtors are recc*Jnised al the setdement amount after any trade discount offered. Prepaymenls are valued at the amount prepaid net of any trade disox)urbts due. 1.11 Cash at bank and In hand Cash at bank and in hand indudes cash and short-letm highly liquid investments with a shorl maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.12 Creditors and provisions Liabililies are recognised when there is an obligalion at the Balan sheet date as a result of a past event, it is probable that a transfer of economic benefil will be required in settlement, and the amount of the settlement can be estimaled reliably. Liabilities are recognised at the amount Ihat the tharity anlirypates it will pay to selde the debt or the amount it has received as advanced payments for the goods or services il must provide. Provisions are measured at Ihe best estimate of the amounts required to settie the obligation. Page 18
ST JAMES. PRE-SCHOOL MUSWELL HILL Notes to the financial statements for the yearended 31 March 2025 Voluntary income Unrestricted funds 2025 Total funds 2025 Donations Grft Aid 14,768 1,402 14,768 1,402 Totsl 2025 16,170 16,170 Unrestricted funds 2024 Total funds 2024 Donations 8,161 330 8,161 330 Grft Aid Total 2024 8.491 8.491 Incoming resources from charitable activities Unrestricted funds 2025 Total funds 2025 Pre-school fees 190.078 190,078 Unrestricted funds 2024 Total funds 2024 Pre-school fees 161,356 161,356 Page 19
ST JAMES. PRE-SCHOOL MUSWELL HILL Notes to the financial statements for the year ended 31 March 2025 Income from other trading activities Unrestricted funds 2025 Total funds 2025 Fundraising 1,620 1.620 Unrestricted funds 2024 Total funds 2024 Fundraising 6,287 6,287 Analysis of expenditure on charitable activilies Actlvltles undertaken directly 2025 Total funds 2025 Unrestricted funds Restricted funds 184.674 600 184,674 600 185.274 185,274 Activities undertaken directly 2024 Total funds 2024 Unrestricted funds Restricted funds 168,404 168,404 600 169.004 169,004 Page 20
ST JAMES. PRE-SCHOOL MUSWELL HILL Notes to the financial statements for the yearended 31 March 2025 Analysis of expenditure on charitable activities (continued) Analysis of direct costs Unrestricted Restricted funds funds 2025 2025 Total funds 2025 Depreciation Salaries, pension & N.1. Staff training Food, drinks, toys & equipment Machinery and repairs Rent 600 600 137,239 872 6,436 10,566 8,496 1.342 678 1.721 796 1,596 3,344 641 137,239 872 6.436 10,566 8,496 1,342 678 1,721 796 1.596 3.344 641 Insurance Printing, postsge, stationery and telephone Sundry expenses Health and safety Cleaning Utilities Bad debts Parking pemiit Entertaining Bank charges Advertising Governan costs 262 262 3,970 104 31 3.970 104 31 6.580 6,580 184,674 600 185,274 Page 21
ST JAMES. PRE-SCHOOL MUSWELL HILL Notes to the financial statements for the year ended 31 March 2025 Analysis of expenditure on charitable activities (continued) Analysis of direct costs (continued) Unrestricted fvnds 2024 Restricted funds 2024 Total funds 2024 Depreciation Salaries, pension & N.1. Staff training Food, drinks, toys and equipment Machinery and repairs Rent 600 133,974 1,539 1.835 2,939 7,900 1,284 988 133,914 1,539 1,835 2,939 7.900 1,284 988 Insuran Printing, postage, statsonery and telephone Sundry expenses Health and safety Cleaning Utilities 1,174 486 1,174 486 1,308 3.515 547 1,308 3,515 547 Bad debts Parking pemiit Entertaining Bank charges Advertising Governance costs 144 144 3,847 (19) 703 3,847 (19) 703 6,300 6,300 168.404 600 169,004 Auditors. remuneralion 2025 2024 Fees payable to the chariws auditor for the audit of the charitys annual accounts 3,180 3, 180 Page 22
ST JAMES. PRE-SCHOOL MUSWELL HILL Notes to the financial statements for the year ended 31 March 2025 staff costs 2025 2024 Wages and salaries Social security costs Contribution to defined contribution pension schemes 121,324 5,274 10,641 119,632 4,237 10,045 137.239 133,914 The average number of persons employed by the charity during the year was as follows.. 2025 No. 2024 No. Employees No employee received remuneration amounts'ng to more than £60,000 in either year. Trustees. remuneration and expenses During the year. no Trustees received any remuneration or other benefits (2024 - £NILJ. During the year ended 31 March 2025. no Trustee expenses have been incurred (2024 - £NIL). Page 23
ST JAMES. PRE-SCHOOL MUSWELL HILL Notes to the financial statements for the year ended 31 March 2025 Tangible fixed assets Leasehold improvements Cost or valuation At 1 April 2024 53,542 At 31 March 2025 53,542 Depreciation At 1 April 2024 Charge for the year 43,957 600 At 31 March 2025 44,557 Net book value At 31 March 2025 8,985 At 31 March 2024 9,585 10. Debtors 2025 2024 Other debtors 7,622 6,201 2,455 1.811 PrepayThents and accrued incorne 13,823 4,266 Page 24
ST JAMES. PRE-SCHOOL MUSWELL HILL Notes to the financial statements for the yearended 31 March 2025 11. Creditors: Amounts falling due within one year 2025 2024 Other creditors 5,594 4,072 6,090 4,024 Accruals and deferred income 9,666 10,114 Deferred income relates to Pre-school fees received in advance Page 25
ST JAMES. PRE-SCHOOL MUSWELL HILL Notes to the financial statements for the yearended 31 March 2025 12. statement of funds Balance at 31 March 2025 Balance at 1 April 2024 Income Expenditure Unrestricted funds 151,260 208,787 (184,744) 175,303 Restricted funds Kitchen and garden fund 4.800 (6001 4.200 Total of funds 156,060 208,787 {185,344) 179,503 Staternent of funds - prior year Balance at 31 March 2024 Balance at l April 2023 Income Expenditure Unrestrlcted funds Unrestricted funds 142, 793 176,871 (168,404) 151,260 Restricted funds Kitchen and garden fund 5.400 (600) 4,800 Total of funds 148, 193 176,871 (169,004) 156,060 Page 26
ST JAMES. PRE-SCHOOL MUSWELL HILL Notes to the financial statements for the yearended 31 March 2025 13. Analysis of net assets between funds Restricted Unrestricted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due within one year 4.200 4.785 180,184 19,666) 8.985 180.184 {9.666) Total 4,200 175,303 179,503 Included within the above unrestricted current assets of £180,184 are amounts designated to a Salary ReseNe of £37,500, 8 Capitsl Expenditure Reserve of £6,057 and a Special Projects Reserve of £5,774. Analysis of net assets between funds - prior year Restricled Unrestricted fvnds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 4,800 4, 785 156,589 (10, 114) 9,585 156,589 (70,114) 4.8( 151,260 156,060 Page 27