REGISTERED CHARITY NUMBER: 1072130
ORMESBY VILLAGE PRESCHOOL TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
. Fenn & Co Chartered Certified Accountants The Office, 4a Allendale Rd Caister-On-Sea Great Yarmouth Norfolk NR30 5ES
Ormesby Village Preschool Trustees' Report and Unaudited Financial Statements For The Year Ended 31 August 2024
Contents
| Contents | |
|---|---|
| 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 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Statement of Financial Activities | 11 |
Ormesby Village Preschool
Trustees' Report For The Year Ended 31 August 2024
The trustees present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of the Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Ormesby Preschool has provided childcare and preschool 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 0800-1700 Monday to Friday, for 48 weeks of the year. The families that have used our service come not only from Ormesby and the surrounding villages, but have even travelled 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 fund raising for the wider community in which we live and operate.
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 surrounding villages.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Charitable donations have been raised and given to a Children’s Medical Charity. 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.
FINANCIAL LAW
Financial position
During the year there was a surplus of income of £548 (2023 surplus expenditure of £12,220). We are still in a strong position with unrestricted reserves of £45,855 (2023 £45,307).
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.
FUTURE PLANS
The future aims & objectives for Ormesby Preschool during the period from 01.09.2024-31.08.2025 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 high, but regardless, we are ready to face whatever the year brings, including any further, unexpected challenges presented. 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.
Page 1
Ormesby Village Preschool Trustees' Report For The Year Ended 31 August 2024
| 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 C E Lee | |
| Mrs K Kempton | |
| Miss L Read | |
| Ms S Love | |
| Mrs Z Mizen | |
| Independent Examiner | Fenn & Co |
| Chartered Certified Accountants | |
| The Office, 4a Allendale Rd | |
| Caister-On-Sea | |
| Great Yarmouth | |
| Norfolk | |
| NR30 5ES |
Approved by order of the board of trustees on ……………………… and signed on its behalf by 18th February 2025
R Robinson
Ms R Robinson - Trustee
Page 2
Ormesby Village Preschool Independent Examiner’s Report For The Year Ended 31 August 2024
Independent Examiner's Report to the Trustees of Ormesby Village Preschool
I report to the charity trustees on my examination of the accounts of the Ormesby Village Preschool for the year ended 31st August 2024 which are set out on pages 4 to 11.
Responsibilities and basis of report
As the charity trustees of Ormesby Village Preschool (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no 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 company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
Signed
Date 18th February 2025
Fenn & Co Chartered Certified Accountants The Office, 4a Allendale Rd Caister-On-Sea Great Yarmouth Norfolk NR30 5ES
Page 3
Ormesby Village Preschool Statement of Financial Activities For The Year Ended 31 August 2024
----- Start of picture text -----
2024 2023
Notes £ £
INCOME AND ENDOWMENTS FROM
- -
Donations and Legacies
Charitable Activities
Fee Income 296,796 301,956
Other trading activities 2 4,852 2,385
Total 301,648 304,341
EXPENDITURE ON
- -
Raising Funds
Charitable Activities
Fee Income - -
Charitable Expenses -301,100 -316,561
Total -301,100 -316,561
NET INCOME 548 -12,220
RECONCILIATION OF FUNDS
Total funds brought forward 45,307 57,527
TOTAL FUNDS CARRIED FORWARD 45,855 45,307
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The notes on pages 6 to 10 form part of these financial statements.
Page 4
Ormesby Village Preschool Balance Sheet For The Year Ended 31 August 2024
----- Start of picture text -----
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 5,574 4,833
5,574 4,833
CURRENT ASSETS
Debtors 6 4,791 7,163
Cash at bank and in hand 59,156 35,967
63,947 43,130
Creditors: Amounts Falling Due Within One Year 7 -23,666 -2,656
NET CURRENT ASSETS (LIABILITIES) 40,281 40,474
TOTAL ASSETS LESS CURRENT LIABILITIES 45,855 45,307
NET ASSETS 45,855 45,307
FUNDS 8
45,855 45,307
Unrestricted funds
MEMBERS' FUNDS 45,855 45,307
The financial statements were approved by the Board of Trustees and authorised for issue on …18th February 2025
and were signed on its behalf by:
R Robinson
----- End of picture text -----
…................................................................
The notes on pages 6 to 10 form part of these financial statements.
Page 5
Ormesby Village Preschool Notes to the Financial Statements For The Year Ended 31 August 2024
1 Accounting Policies
Basis of Preparation of 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 in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 section 1A Small Entities "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 legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in the 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 as the following annual rates in order to write off each asset over estimated useful life.
| Fixtures & 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 charitable objectives at the direction of trustees.
Restricted funds can only be used for a particular restricted purpose 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 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 lines 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 2024
2. Other trading activities
| Fundraising Events Clothing sales |
2024 £ 4,361 491 4,852 |
2023 £ 2,103 282 2,385 |
|---|---|---|
3. Trustees’ remuneration and benefits
There were no trustees’ remuneration or other benefits for the year ended 31 August 2024 or the year ended 31 August 2023.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31 August 2024 or the year ended 31 August 2023.
4. Comparatives for the statement of financial activities
| INCOME AND ENDOWMENTS Donations and legacies - Charitable activities Fee Income Other trading activities Other income Total EXPENDITURE ON Raising funds Charitable activities Fee Income Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ - 301,956 2,385 - 304,341 - 316,561 316,561 -12,220 57,527 45,307 |
|---|---|
continued…
Page 7
Ormesby Village Preschool Notes to the Financial Statements (continued) For The Year Ended 31 August 2024
----- Start of picture text -----
5. Tangible Assets
Fixtures & Computer
Fittings Equipment Total
£ £ £
Cost
As at 1 September 2023 11,947 2,249 14,196
Additions 1827 239 2,066
As at 31 August 2024 13,774 2,488 16,262
Depreciation
As at 1 September 2023 8,356 1,007 9,363
Provided during the period 955 370 1,325
As at 31 August 2024 9,311 1,377 10,688
Net Book Value
As at 31 August 2024 4,463 1,111 5,574
As at 1 September 2023 3,591 1,242 4,833
6. Debtors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade debtors 2,328 5,496
Prepayments and accrued income 2,463 1,667
4,791 7,163
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 200
Other creditors 23,666 2,456
23,666 2,656
8. Movement in Funds
At 1.9.23 Net movement At 31.8.24
in funds
£ £ £
Unrestricted funds
General Fund 45,307 548 45,855
Total Funds 45,307 548 45,855
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continued…
Page 8
Ormesby Village Preschool Notes to the Financial Statements (continued) For The Year Ended 31 August 2024
8. Movement in Funds - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General Fund 301,648 Total Funds 301,648 Comparatives for movement in funds At 1.9.22 £ Unrestricted funds General Fund 57,527 57,527 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General Fund 304,341 Total Funds 304,341 Comparatives for movement in funds At 1.9.23 £ Unrestricted funds General Fund 45,307 45,307 A current year 12 months and prior 12 months combined position is as follows: At 1.9.22 £ Unrestricted funds General Fund 57,527 57,527 |
Resources expended £ -301,100 -301,100 Net movement in funds £ -12,220 -12,220 Resources expended £ -316,561 -316,561 Net movement in funds £ 548 548 Net movement in funds £ -11,672 -11,672 |
Movement in funds £ 548 548 At 31.8.23 £ 45,307 45,307 Movement in funds £ -12,220 -12,220 At 31.8.24 £ 45,855 45,855 At 31.8.24 £ 45,855 45,855 |
|---|---|---|
continued…
Page 9
Ormesby Village Preschool Notes to the Financial Statements (continued) For The Year Ended 31 August 2024
8. Movement in Funds - continued
A current year 12 months and prior 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General Fund Total Funds |
Incoming resources Resources expended Movement in funds £ £ £ 605,989 -617,661 -11,672 605,989 -617,661 -11,672 |
|---|---|
9. Related Party Disclosures
There were no related party transactions for the year ended 31 August 2024
Page 10
Ormesby Village Preschool Detailed Statement of Financial Activities For The Year Ended 31 August 2024
----- Start of picture text -----
2024 2023
INCOME AND ENDOWMENTS £ £ £ £
Donations and legacies
Donations - -
- -
Other trading activities
Fundraising events 4361 2,103
Clothing 491 282
4,852 2,385
Income - Funded 180667 178,061
Income - Private 100385 102,520
Income - Holiday Club 15744 21,375
296,796 301,956
Total incoming resources 301,648 304,341
EXPENDITURE
Raising donations and legacies
Clothing 1129 -
-1129 -
Administrative Expenses
Wages 261682 280,993
Staff training 1014 75
Food and Drink 4329 4,436
Consumable toys and equipment 5265 7,391
Cleaning 2334 -
Rent and Rates 8802 8,488
Insurance 2076 1,519
Stationery and Website 3624 3,478
Telephone 2464 2,209
Subscriptions 1482 -
Repairs 80 -
Sundry expenses 932 1,324
Bank Charges 6 -
Depreciation of fixtures and fittings 955 1,197
Depreciation of computer equipment 370 414
-295,415 -311,524
Governance Costs
Accountancy and legal fees 3764 4,317
Independent examination fee 792 720
-4,556 -5,037
Total resources expended -301,100 -316,561
NET INCOME 548 -12,220
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This page does not form part of the statutory financial statements
Page 11
Issuer
Fenn & Co
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