2021-08-31-accounts - Ormesby Village Pre-School

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

REGISTERED CHARITY NUMBER: 1072130

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 August 2021

for

Ormesby Village Preschool

East Coast Accounting Services Limited 293 El Alamein Way Bradwell Norfolk NR31 8TX

Ormesby Village Preschool

Contents of the Financial Statements for the Year Ended 31 August 2021

		Page
Report of the Trustees	1	to	2
Independent Examiner's Report		3
Statement of Financial Activities		4
Balance Sheet		5
Notes to the Financial Statements	6	to	10
Detailed Statement of Financial Activities	11	to	12

Ormesby Village Preschool

Report of the Trustees for the Year Ended 31 August 2021

The trustees present their report with the financial statements of the charity for the year ended 31 August 2021. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Ormesby Preschool has provided child care and pre-school education for over 90 families between the hours of 0900-1500, and has offered childcare facilities, provided through breakfast club, after school club and school holiday club, to an additional 50 families, during the extended hours of 0800-1800 Monday to Friday, for 50 weeks of the year. This included remaining open when November 2020 saw another lockdown, and again when the tier system came into effect in early 2021. The families that have used our service come not only from Ormesby and the surrounding villages, but have even travelled from as far as Norwich to access the childcare and provision we provide. We have supported the educational advancement and readiness for school of all the children attending, and those who transitioned to begin school after attending. Parents, carers, grandparents and family members have joined us for celebrations and play sessions where possible, and we have reached out to the extended community, for example by visiting local elderly clubs and fundraising for the wider community in which we live and operate. During the ongoing Coronavirus pandemic, preschool have implemented 'Bubbles', changed their working practises, and done everything possible and necessary to ensure a Covid secure working environment for staff, and a Covid safe environment to make the preschool available for all families who wished to use it for childcare and Early Years education. The vast majority of families continued to use Preschool for their child/ren throughout, which assures me of their confidence in the procedures and safety arrangements.

Public benefit

To advance the education of children below compulsory school age in Ormesby St Margaret. a) Provide safe and satisfying group play, in which parents have the right to take part b) Encourage other charitable activities through which parents may help the children.
To provide the necessary facilities for the day care, recreation and education of children from 12 months up to eleven years of age during out of school hours and school holidays, in Ormesby and the surrounding villages.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The continued renewal of our Lotteries License has seen an overall increase in the funds raised from raffles held at our 2020 Christmas celebration. Committee members have made themselves available to help and to make the events enjoyable and fun for the children and their families. Unfortunately, Coronavirus meant both the Summer Sports Day, Fête and Raffle 2021, and the Leaver's Trip 2021 were again unable to go ahead. Charitable donations have been raised and given to a variety of Charities. Peninsula continued to help manage health & safety within preschool, HR, employment and other responsibilities, and their support proved highly beneficial. We welcome the advice and support they are able to offer. Preschool would usually have helped many children prepare and make entries to the Ormesby Village Show, but unfortunately, this also did not happen due to the pandemic. Preschool are hopeful and look forward to doing so next year if Coronavirus permits.

FINANCIAL REVIEW

Financial position

During the year there was a surplus of income of £12,263 ( 2020 deficit of £21,252). We are still in a strong position with unrestricted reserves of £51,988 (2020 £39,725)

Reserves policy

The committee has a reserves policy in case of redundancies etc. This amount currently equates to 2 months salary costs and is included within the main bank account.

Page 1

Ormesby Village Preschool

Report of the Trustees for the Year Ended 31 August 2021

FUTURE PLANS

The future aims & objectives for Ormesby Preschool during the period from 01.09.2021-31.08.2022 remain largely the same as in previous years, and the committee will continue to support preschool in achieving this in whichever ways it can. Preschool will continue to seek ways to evolve and grow to best serve the community in which we operate, and support the families who use our service, as well as achieving the best possible outcomes for the children who attend. The likelihood of an Ofsted inspection during the period covered by the next AGM is low, but regardless, we are ready to face whatever the year brings, including any further challenges presented by Coronavirus. The committee will continue to fulfil its obligations to the Charity Commission, and public benefit, and will rise to any challenge which may present, with the usual resilience, passion, enthusiasm and professionalism.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1072130

Principal address Boarded Barn Farm Old Coast Road Ormesby Norfolk NR29 3QH

Trustees

Ms P A Moore Ms R Robinson Ms A Craske Ms M A Wright Ms C E Lee Ms N T Hart Mrs K Kempton Miss L Read

Independent Examiner

Sue Rolfe MA.FCA East Coast Accounting Services Limited 293 El Alamein Way Bradwell Norfolk NR31 8TX

22/02/2022 Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ Ms R Robinson - Trustee

Page 2

Independent Examiner's Report to the Trustees of Ormesby Village Preschool

Independent examiner's report to the trustees of Ormesby Village Preschool

I report to the charity trustees on my examination of the accounts of Ormesby Village Preschool (the Trust) for the year ended 31 August 2021.

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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of _ which is one of the listed bodies.

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:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
the accounts do not accord with those records; or
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.

Sue Rolfe MA.FCA East Coast Accounting Services Limited 293 El Alamein Way Bradwell Norfolk NR31 8TX 22/02/2022 Date: .............................................

Page 3

Ormesby Village Preschool

Statement of Financial Activities for the Year Ended 31 August 2021

31.8.21
Unrestricted
fund
as
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
700
Charitable activities
Fee Income
272,542
Other trading activities
2
2,381
Other income
9,492
Total
285,115
EXPENDITURE ON
Raising funds
933
Charitable activities
Fee Income
271,919
Total
272,852
NET INCOME/(EXPENDITURE)
12,263
RECONCILIATION OF FUNDS
Total funds brought forward
39,725
TOTAL FUNDS CARRIED FORWARD
51,988

31.8.20
Total
funds
restated
£
-
226,500
825
15,630
242,955
349
263,858
264,207
(21,252)
60,977
39,725

The notes form part of these financial statements

Page 4

Ormesby Village Preschool

Balance Sheet 31 August 2021

		31.8.21	31.8.20
		Unrestricted	Total
		fund	funds
			as restated
	Notes	£	£
FIXED ASSETS
Tangible assets	6	5,017	4,819
CURRENT ASSETS
Debtors	7	6,439	480
Cash at bank and in hand		60,625	50,323
CREDITORS		67,064	50,803
Amounts falling due within one year	8	(20,093)	(15,897)
NET CURRENT ASSETS		46,971	34,906
TOTAL ASSETS LESS CURRENT
LIABILITIES		51,988	39,725
NET ASSETS		51,988	39,725
FUNDS	9
Unrestricted funds		51,988	39,725
TOTAL FUNDS		51,988	39,725

The financial statements were approved by the Board of Trustees and authorised for issue on 22/02/2022 ............................................. and were signed on its behalf by:

............................................. Trustee

The notes form part of these financial statements

Page 5

Ormesby Village Preschool

Notes to the Financial Statements for the Year Ended 31 August 2021

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.

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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on cost Computer equipment - 33% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

continued...

Page 6

Ormesby Village Preschool

Notes to the Financial Statements - continued for the Year Ended 31 August 2021

2. OTHER TRADING ACTIVITIES

OTHER TRADING ACTIVITIES
	31.8.21		31.8.20
		as restated
	£		£
Fundraising events	1,912		472
Clothing sales	469		353
	2,381		825

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.

4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM	Unrestricted fund as restated £
Charitable activities
Fee Income	226,500
Other trading activities	825
Other income	15,630
Total	242,955
EXPENDITURE ON
Raising funds	349
Charitable activities
Fee Income	263,858
Total	264,207
NET INCOME/(EXPENDITURE)	(21,252)
RECONCILIATION OF FUNDS
Total funds brought forward	60,977
TOTAL FUNDS CARRIED FORWARD	39,725

continued...

Page 7

Ormesby Village Preschool

Notes to the Financial Statements - continued for the Year Ended 31 August 2021

5. PRIOR YEAR ADJUSTMENT

The comparative figures for 2020 have been amended to reflect the change to the accruals basis of accounting in the current year.

6. TANGIBLE FIXED ASSETS

6.	TANGIBLE FIXED ASSETS
		Fixtures
			and	Computer
		fittings		equipment	Totals
			£	£	£
	COST
	At 1 September 2020		8,226	-	8,226
	Additions		1,154	1,481	2,635
	At 31 August 2021		9,380	1,481	10,861
	DEPRECIATION
	At 1 September 2020		3,407	-	3,407
	Charge for year		2,426	11	2,437
	At 31 August 2021		5,833	11	5,844
	NET BOOK VALUE
	At 31 August 2021		3,547	1,470	5,017
	At 31 August 2020		4,819	-	4,819
7.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	Trade debtors			31.8.21 £ 6,279	31.8.20 as restated £ 320
	Prepayments			160	160
				6,439	480
8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	Trade creditors			31.8.21 £ 1	31.8.20 as restated £ (1)
	Other creditors			20,092	15,898
				20,093	15,897

continued...

Page 8

Ormesby Village Preschool

Notes to the Financial Statements - continued for the Year Ended 31 August 2021

9. MOVEMENT IN FUNDS

At 1.9.20
£
Unrestricted funds
General fund
39,725
TOTAL FUNDS
39,725
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
285,115
TOTAL FUNDS
285,115
Comparatives for movement in funds
At 1.9.19
£
Unrestricted funds
General fund
60,977
TOTAL FUNDS
60,977
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
242,955
TOTAL FUNDS
242,955

Net
movement
At
in funds
31.8.21
£
£
12,263
51,988
12,263
51,988
Resources
Movement
expended
in funds
£
£
(272,852)
12,263
(272,852)
12,263
Net
movement
At
in funds
31.8.20
£
£
(21,252)
39,725
(21,252)
39,725
Resources
Movement
expended
in funds
£
£
(264,207)
(21,252)
(264,207)
(21,252)

continued...

Page 9

Ormesby Village Preschool

Notes to the Financial Statements - continued for the Year Ended 31 August 2021

9. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

		Net
		movement	At
	At 1.9.19	in funds	31.8.21
	£	£	£
Unrestricted funds
General fund	60,977	(8,989)	51,988
TOTAL FUNDS	60,977	(8,989)	51,988

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds General fund TOTAL FUNDS	Incoming resources £ 528,070 528,070	Resources Movement expended in funds £ £ (537,059) (8,989) (537,059) (8,989)

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2021.

Page 10

Ormesby Village Preschool

Detailed Statement of Financial Activities for the Year Ended 31 August 2021

Detailed Statement of Financial Activities for the Year Ended 31 August 2021
	31.8.21	31.8.20
		as restated
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Donations	700	-
Other trading activities
Fundraising events	1,912	472
Clothing sales	469	353
Charitable activities	2,381	825
Fees Funded	180,768	147,255
Fees Private	80,855	72,967
Fees Holiday Club	10,919	6,278
Other income	272,542	226,500
Staff meals	-	1,407
JRS Grants received	9,492	14,223
	9,492	15,630
Total incoming resources	285,115	242,955
EXPENDITURE
Raising donations and legacies
Clothing purchases	933	349
Charitable activities
Wages	232,795	232,660
Rent and rates	7,980	8,195
Insurance	1,076	941
Telephone	1,969	1,645
Stationery and website	3,624	1,296
Sundries	1,043	784
Food and drink	2,910	1,850
Consumable toys and equipment	8,700	5,362
Staff training	1,485	1,341
School dinners	-	2,884
Repairs and renewals	3,435	-
Fixtures and fittings	2,426	1,606
Computer equipment	11	-
	267,454	258,564

Support costs

This page does not form part of the statutory financial statements

Page 11

Ormesby Village Preschool

Detailed Statement of Financial Activities
for the Year Ended 31 August 2021
	31.8.21	31.8.20
		as restated
	£	£
Support costs
Governance costs
Accountancy and legal fees	4,112	4,581
Independent examination fee	353	713
	4,465	5,294
Total resources expended	272,852	264,207
Net income/(expenditure)	12,263	(21,252)

This page does not form part of the statutory financial statements

Page 12