ST MARY'S PRE-SCHOOL PLAYGROUP FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Charity number: 1072893 ST MARY'S PRE-SCHOOL PLAYGROUP CONTENTS FOR THE YEAR ENDED 31 AUGUST 2023 Pagè Report of the Trustees Receipts and Payments Account Statement of Assets and Liabilities Indopendenl Examiner's Reptsrt ST MARY'S PRE-SCHOOL PLAYGROUP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 The Trusletss are pleased lo present their report, together with the financial statements for the year ended 31 August 2023. Reference and administration detalls Charlty name.. St Mary's Pre-school Playgroup Charity registrallon number.. 1072893 Address of Charity.. St Matys Church Hall 322 Woodbridge Road Ipswich Trustees: T Underwood Ichairl IResigned and r&appointed 30108120231 ITreasurerl IResvJned and re-appointed 30108120231 {Secrelaryl IResigned and re-appointed 30108120231 J Sloggell L unden￿)Dd Commillee members.. J Wilkie J Al Kero H TumbAII- reslgned 2111012022 Support team.. E Jessop H Sloggell P Crabb (Pre-school Manager) (Pre-school Manager {Pre-School Business Manager) Independent examiner.. L Thurslon FCCA Lov¢well Blake LLP First Floor Suite Unil 2 Hillside BLJsiness Park Bury Sl Edmunds IP32 7EA ST MARY'S PRE-SCHOOL PLAYGROUP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 Objectives and actlvltles The primary purpose of thg Charity is lo help children and young people with educational training, by providing pre-school care for children aged two lo five years old for eight sessions per week. Each session lasts for three hours and a lunch club is also provided, il required, three days per week. The Charity aims to enhan¢e the development and educslion of children primarily under stalulory school age by encouraging parents lo undeTsland and provide for the needs of their ¢hildren through community groups. The Charity raises additional fvnds from the public to support the actwities of the Charity bul does not work with commercial partloipalors. The purposes of the Charity are tsxclusively charitabl& and the financial slalemenls have been prepared in accordance with the requirèments of the Chari119s Act 20111.lhe Acl'l. In planning the oblecliv88 and activities of the Charity, the Trustees have reviewecs the guidance provided by tho Charity Commission. Achievements and performanco In 2021. the pre-school's Ofsled rating in¢reas&d lo 'Good'. This marks a significant achievement and considerable progress against our organisalional goals. 11 has been no srnall feat given the local and national challenges faced by the earty years sector. Against the backdrop ol increasingly difficult societal uncertainty, il has been a challgnging year financially. However, we have faced these challenges head-on lo end the financial year in a less PTecarious position than expected. A significant and concerning deficit was predicted at the outset of Ihe financial year. but IhmLJgh hard work and diligence the pre4chool has managed lo end with a much smaller deficit than expected. As we continued lo address the fallout from the global pandemic. our focus has remained on ensuring the wellbeing of the children and their families as we have spent lime, effort and resource lo support all those associated with the setting. The forecast deficit has provided an additional challenge lo our ability lo progress and grow the setting. Thls. coupled wlh r8slrlcllons on growth and development from circumstan￿S beyond Ihts control of the pre-school. have provlded lané wll continue lo provide) an umbralla of uncertainty rogarding our longer- term prospects. Nonetheless, once again the stsff, management and committee have been able lo reflect on our successes and areas for development as we sought lo impiove standards nol for ratings, bul for the children accessing our service. Overall, tha setting has pmvided a safe, stable and conslsltsnl environment for our children and their families. The staff, management and commillee have worked hard lo ensure our focus remained on the children in our charge. ST MARY'S PRE-SCHOOL PLAYGROUP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 Financlal revlew The year ending 31 August 2023 was extremely challenging for the preschool. we had budgeted a defi¢il of £11,584 but ended wlh a doficil of £5,188. Most years the initial budget is a deficit. but we generally manage lo turn this around during the year in top a small surplus. This year that was not lo be. Income was as budgetsd however sa18rie8 were up over 7¥. {£5,6991. Other expense categories experleneed som8 Positives and negallv88 but materially the dlfference ￿tween actual and budgeted comes down lo the additional salaries paid. The yoar commencing 2023 is looking much MO￿ promising and we hope this comes lo fruition. structure¥ govemance and management Governlng document St Mary's Pre-school Playgroup was established on 10 December 1988. Ils constitution., the 'Pre-S¢hool Learning Alliance Constitution Document January 2016, was r￿Istered with the Charity Commisslon Iregislralion number 10728931 on 29 February 2016. Appolntment and re¢rultm6nt of Tru$tÈès Trustees are appointed al the Annual General Meeting and the Trustees can co-opt up to 3 further Trtjslees any time after the AGM. The minimum numbers ol the Committee, including Trustees and Members 1$ 5 and the maximum is 12. together wilh up to a further 3 co-opted members. The Trustees of the Charity are currently all parents of Gurrent children or parents of previous children. The one ex¢trplion to this is. the current Treasurèr who was co-optéd in March 2020 due lo his background in finance and following the resignallon of the previous Treasurer. Trustees. Induction and tralnlng Atl new Trustees will be provided with a Committee Welcom8 Pack whlch includes Goples of.. The Charity's conslilulion The latest accounts of Ihe Charity Cod8 of ¢onduct Conlidenliality agreement Trustees are encouraged to read Charity Commission guidanc8 notes CC3 - 'Tho Essential Trustee, what you need lo know, what you need lo do" and PB3 -"Public benefit.. Reporting" In addition, Trustees are encouraged lo read Charily Commission and other newsletters and to attend courses design8d to keep them abreast of their dulios and responsibilities. Organisational structure The Truste&s administer the Charity and meet regularly Ihought-out the year. During these meetings all charitable matters are discussed including the raising of funds. Incomo structure, ongoing performan￿ and to approve forthcoming charitable expendiluTe. Tho Charity monitors performan￿ against budgeted targets and reports annually al the Annual Genera M8eling where Trustees. resignation and appointments are made in line with the necessary roles and requirements of the foreseeablts future. ST MARY'S PRE-SCHOOL PLAYGROUP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 Risk management Management has reviewed the majoT risks lo which the Charity is exposed. Where appropriate, systems or procedures have been established to mitigate these risks. St Mary's Pre-school Playgroup ben&lSls from a diligent and dedicated team of Trustees. Costs are closely monitored to ensure the Charity operates within its means whilst taking into account other key factors including quality of provision. The Charily maintains 8 separalts bank account lo cover ils reserves, all of which minimise its exposure lo risk. The Charily's Inlemal poliues place lo rnilig8le risk ara listed on the Charlly's website and 8ummarised below.. Children's right and entillemenls. Safeguarding children, young people and vulnerable adults. Looked after children. Uncollected children. Missing child. Online safety policy includlng use of mobile phones and cameras. Employment. Student pl8￿MentS. Induction of employetss and volunteers. First aid. Maintaining children's safety and security on premises. Sup&rvising chiklren on outings and visits. Fire safety and ernergency evacuation. Animals in the setting. Smoking. Staff safety includlng home visils. Valuing divèrsity and promoting inclusion and equality. Supporiing children with SEND. 8rilish values. Admissions policy. Ir The role of the key person and settling in. Staffing. Administering medicings. Managing children who are sick, infectlous or with allergies. Recording and reporting accidents and inoidenls. Nappy changing. Food and drink. Food hygiene. Promoting positive behaviour. Health and safety general standards. Risk assessments. Pa￿ntaI involvement. Children's records. Provider re¢ords. Transfer of records lo school. Confidentially and cli8nt access to re¢ords. Information sharing. Working in partnership with other agencies. Making a complaint. Paymonl policy. Financlal reserves policy. Trustees expens8s pollcy. Conlli¢l of inler8sI policy. Related party transactions During the year the charity paid H Sloggo11 amounts for employment S8rvic8s £11.187 12022.. £11,309}. H Stoggell is related lo the Trustee J Stoggell. There were no other related party transaction in this or the prior year. ST MARY'S PRE-SCHOOL PLAYGROUP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 Reservas policy The Charity's reserves policy is lo maintain reserves 81 a level adequate to prolecl ils ongoing work from significani fluclualions in service income. This policy is reviewed annually. The Charity aims to hold sufficient r8seTves lo cover three months, running costs plus statutory redundancy costs. This value is set aside in separate bank account which lotsls £42,87412022.. £42,810) at the year tsnd. The committee recommend that £3,626 12022.. £2,690} be transferred from the year end surplus lo lop up the re88lV8 account to the required lèvel of £47,50012022'. £45,500). Al the yaar end, the Charity has total resewes of £80,356 {2022.. £70,241) of which £Nil is restricted. The reserves of the Charity are Ihereforo adequate, and the Trustees consider that the Charity will continue as a going concern for Ihe foreseeable future. There are no material uncertainties about the Charity's 8bility lo continue. Plans for future pèriods 11 is the Trustees. intention that the Charity will continue to provide services in line with the objectives and activities as noted In these financial slalemenls. Th& charity is focused over the next financial year on a n¥Jmber of key areas aimad al protecting the pro- school's financial positron, improving the quality of provision and developing opportunities fo¥ growth and siabilily. One of the blggest challenges Ihal will be faced In th8 year 2023 124 wlll be the increases in overheads, restricllon on our ability to offer a full 30-hour setting and an uncertain early years environment. To allempl to miligale the external factors impacting our financlal stability we will conlinue lo implement measures lo reduce expenditure and increase our financial robustness. Altenlion will be further directed towards business development and identifying effecllve marketing strategies over the coming year. This includes updsling our corporate image, branding and digital presence an area considered to be of Imptsrtance, particularly given the changes lo service user behaviours land an area the previous Iinanclal year did not p8rmil sufficienl progress on). Truste8s The current Trusteès are shown in the reference and adminislralion d8tsils of these accounts, including those who have served during the year and any appointment and reslgnatlon dales as required. Public beneflt The Trustees have consldered the Charity Commission's guidance on public bonefit. They confirm that in planning and carrying out the Charity's activities they have had regards to this guidance. ST MARY'S PRE-SCHOOL PLAYGROUP RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2023 Independent examlnér reappointmènt A resolution lo appoinl L Thurslon FCCA of Lovewell Blake LLP as independent examiner will be proposed al the next Annual General Meeting. The Trustees, annual report was approved on .Zot.F and signed on b¢h8lf of the board of Twslees by.. T Underwood (Chairl Trustee ST MARY'S PRE-SCHOOL PLAYGROUP RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2023 2023 Unrèstricted Restrlctèd 2022 Unrestricted Rèstricted Total Total Recelpts Fees recelved Fundraising Interest received Higher t8riff needs Other 99,498 74 65 99,498 74 65 5.380 47 75.539 489 75,539 469 5,380 90 90 47 Total Rocelpts Payments.. Rent Wag&s Consumables Management and admin Enrolrnent and insurance Fundraising expenditure Tralnlng expenditure Small equipment other 8,497 81,649 3,180 3,152 2,247 8.497 87,029 3,180 3,152 2,247 6,272 78,442 1,883 1,716 3.307 456 1.096 160 5,447 6,272 78,532 1.883 ,716 3.307 456 1,096 160 5,447 5,380 90 356 527 5,264 356 527 5,264 Assel and olhar ￿St$ Total Payments Not Ipaymehtsllrecelpts Transfer tollframl funds IDeflcltysuTplus lor the year 15.1881 15,1881 122,7661 122.7661 Cash and bank balanees at 31 Augusl 2022 86.451 86,451 109,217 109,217 cash and bank balances at 31 Avgust 2023 ST MARYS PRE4CHOOL PLAYGROUP STATEMENT OF ASSETS AND LIABILITIES AS AT 31 AUGUST 2023 Unreslrlcted Funds 2023 2022 Cash funds Bank current account 2023 2022 Other monetary assets Prepayments 2023 2022 Assets retained for the Charity's own use Furniture and equipment Al cost At Nel book value 10,414 10,414 2023 2022 Llabllitles Trade creditors Accruals Other creditors Deferred inwme 927 2,518 3,337 These financial sialemenls were approved by the Trustees on 20(land are signed on their behalf by-. T Undetwood (Chairl Trusteè ST MARY'S PRE.SCHOOL PLAYGROUP INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FOR THE YEAR ENDED 31 AUGUST 2023 I report lo the Charity Trustees on my examination of the acwunls of the Charity for the year ended 31 August 2023 which are sel out on the afore mentioned pages of these financial slalements. Responslbllltlos and basis of report As the Charity's Trustees you arg responsible for the preparation of the accounts in accordance with th8 requirements of the Charities Act 2011 I'lhe Act'l. I report In respect of my examination of the Charity's 8¢¢ounts carried out under section 145 of Ihts Ad and in carrying out my examination I have followed all the applicable Directions given by th¢ Charity Commission undèr section 145{5llbl of the Act. Indopendent examiner's statement I have completed my examination. I confirm that no material mallers hav8 come lo 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 Charity as ￿qUired by section 130 of the Act.. or 2. the accounts (So nol accord with Ihosa records,. or 3. the a¢counls do not comply with the applicable requlremenls concerning the form and content of accounts sel out in the Charilies IA¢¢ounls and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair view, which is not a maller considered a5 part of an independent examination. I havé no corkcerns and have corne across no other mallers in connection wilh the examination lo which allenlion should be drawn in this report in order lo enable a pmper understanding of the accounts lo be reached. L Thurslon FCCA Independent examiner Lovewell Blake LLP First Floor Suite Unil 2 Hillside Business Park 8ury Sl Edmunds IP32 7EA 2810612024