CHARITY REGISTRATION NUMBER: 1079909
Nestlings Pre School Unaudited Financial Statements 31 August 2023
CHARLTON BAKER LIMITED
Chartered accountants 33 Duke Street Trowbridge Wiltshire BA14 8EA
Nestlings Pre School
Financial Statements
Year ended 31 August 2023
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 13 |
Nestlings Pre School
Trustees' Annual Report
Year ended 31 August 2023
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 August 2023.
Achievements and performance
As we emerged from Covid restrictions the Preschool proved to be popular within the local community providing an early years education to over 35 children during the year. Nestlings provided a safe and stimulating environment where children flourished. Strong key worker links helped children to reach their potential. Fundraising and keeping fees low made the setting affordable to all families. Good relationships were formed with parents and approachable staff ensured families were supported at all times.
Financial review
Reservces policy
The charity has a policy to maintain adequate reserves in order to fulfil its functions for a period after any loss of income.
In accordance with this policy, an allocation has been made of £17,000 of reserves as a redundancy fund. An additional £3,500 has been allocated as a contingency fund to cover running costs without any funding for a period of three months.
Finally, £3,000 of reserves has been allocated to potential council grant reclaims, and £3,000 for any emergency building repairs.
Structure, governance and management
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
1
Nestlings Pre School
Trustees' Annual Report (continued)
Year ended 31 August 2023
Reference and administrative details
Registered charity name Nestlings Pre School Charity registration number 1079909 Principal office School Lane Staverton Trowbridge Wiltshire BA14 6NZ The trustees S Stone K Trebble C Hills (Resigned 18 April 2023) A Dolman (Appointed 19 April 2023) Independent examiner Charlton Baker Limited 33 Duke Street Trowbridge Wiltshire BA14 8EA
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
S Stone Trustee
2
Nestlings Pre School
Independent Examiner's Report to the Trustees of Nestlings Pre School
Year ended 31 August 2023
I report to the trustees on my examination of the financial statements of Nestlings Pre School ('the charity') for the year ended 31 August 2023.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
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 charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements 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.
Charlton Baker Limited Independent Examiner
33 Duke Street Trowbridge Wiltshire BA14 8EA
3
Nestlings Pre School
Statement of Financial Activities
Year ended 31 August 2023
| 2023 | 2023 | 2022 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 114,615 | 114,615 | 99,463 |
| Other trading activities | 5 | 399 | 399 | 370 |
| Investment income | 6 | 102 | 102 | 3 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total income | 115,116 | 115,116 | 99,836 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 119,041 | 119,041 | 109,775 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total expenditure | 119,041 | 119,041 | 109,775 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net expenditure and net movement in funds | (3,925) | (3,925) | (9,939) | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 29,019 | 29,019 | 38,958 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 25,094 | 25,094 | 29,019 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 11 form part of these financial statements.
4
Nestlings Pre School
Statement of Financial Position
31 August 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 11 | 4,162 | 5,322 |
| Current assets | |||
| Debtors | 12 | 176 | 277 |
| Cash at bank and in hand | 22,306 | 25,678 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 22,482 | 25,955 | ||
| Creditors: amounts falling due within one year | 13 | 1,550 | 2,258 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Net current assets | 20,932 | 23,697 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total assets less current liabilities | 25,094 | 29,019 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Net assets | 25,094 | 29,019 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Funds of the charity | |||
| Unrestricted funds | 25,094 | 29,019 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total charity funds | 16 | 25,094 ৶৶৶৶৶৶৶৶ |
29,019 ৶৶৶৶৶৶৶৶ |
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
S Stone Trustee
The notes on pages 6 to 11 form part of these financial statements.
5
Nestlings Pre School
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is School Lane, Staverton, Trowbridge, Wiltshire, BA14 6NZ.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Income tax
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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.
6
Nestlings Pre School
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
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.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Plant and machinery | - | 25% reducing balance |
|---|---|---|
| Fixtures and fittings | - | 25% reducing balance |
| Computer equipment | - | 33% reducing balance |
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or paable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
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Nestlings Pre School
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 116 | 116 | – | – | |
| Admissions | 12,636 | 12,636 | 14,632 | 14,632 | |
| Grants | |||||
| Government grant income | 101,863 | 101,863 | 84,831 | 84,831 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 114,615 | 114,615 | 99,463 | 99,463 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 5. | Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Fundraising events | 399 | 399 | 370 | 370 | |
| ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ||
| 6. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 102 | 102 | 3 | 3 | |
| ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ||
| 7. | Net expenditure | ||||
| Net expenditure is stated after charging/(crediting): | |||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 1,440 | 1,803 | |||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
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Nestlings Pre School
Notes to the Financial Statements (continued)
Year ended 31 August 2023
8. Independent examination fees
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 858 | 792 |
| ৶৶৶৶ | ৶৶৶৶ |
9. Staff costs
| The total staff costs and employee benefits for the reporting period are analysed as | The total staff costs and employee benefits for the reporting period are analysed as | follows: |
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Wages and salaries | 92,618 | 86,582 |
| Employer contributions to pension plans | 2,256 | 1,922 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 94,874 | 88,504 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
The average head count of employees during the year was 10 (2022: 10).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
10. Trustee remuneration and expenses
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
11. Tangible fixed assets
| Plant and | Fixtures and | |||
|---|---|---|---|---|
| machinery | fittings | Equipment | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 September 2022 | 3,295 | 19,815 | 3,696 | 26,806 |
| Additions | – | – | 280 | 280 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| At 31 August 2023 | 3,295 | 19,815 | 3,976 | 27,086 |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| Depreciation | ||||
| At 1 September 2022 | 2,953 | 15,015 | 3,516 | 21,484 |
| Charge for the year | 88 | 1,200 | 152 | 1,440 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| At 31 August 2023 | 3,041 | 16,215 | 3,668 | 22,924 |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| Carrying amount | ||||
| At 31 August 2023 | 254 | 3,600 | 308 | 4,162 |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| At 31 August 2022 | 342 ৶৶৶৶৶৶৶ |
4,800 ৶৶৶৶৶৶৶৶ |
180 ৶৶৶৶৶৶৶ |
5,322 ৶৶৶৶৶৶৶৶ |
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Nestlings Pre School
Notes to the Financial Statements (continued)
Year ended 31 August 2023
| 12. | Debtors | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Trade debtors | 176 | 277 | |
| ৶৶৶৶ | ৶৶৶৶ | ||
| 13. | Creditors: amounts falling due within one year | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Accruals and deferred income | 792 | 792 | |
| Social security and other taxes | 353 | 1,144 | |
| Other creditors | 405 | 322 | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| 1,550 | 2,258 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
14. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,256 (2022: £1,922).
15. Government grants
The amounts recognised in the financial statements for government grants are as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Recognised in income from donations and legacies: | ||
| Government grants income | 101,863 ৶৶৶৶৶৶৶৶৶ |
84,831 ৶৶৶৶৶৶৶৶ |
16. Analysis of charitable funds Unrestricted funds
| At | At | |||||
|---|---|---|---|---|---|---|
| 1 | September | 31 August | 20 | |||
| 2022 | Income | Expenditure | 23 | |||
| £ | £ | £ | £ | |||
| General funds | 29,019 | 115,116 | (119,041) | 25,094 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |||
| At | At | |||||
| 1 | September | 31 August | 20 | |||
| 2021 | Income | Expenditure | 22 | |||
| £ | £ | £ | £ | |||
| General funds | 38,958 ৶৶৶৶৶৶৶৶ |
99,836 ৶৶৶৶৶৶৶৶ |
(109,775) ৶৶৶৶৶৶৶৶৶ |
29,019 ৶৶৶৶৶৶৶৶ |
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Nestlings Pre School
Notes to the Financial Statements (continued)
Year ended 31 August 2023
17. Analysis of net assets between funds
| Unrestricted | Total Funds | ||
|---|---|---|---|
| Funds | 2023 | ||
| £ | £ | ||
| Tangible fixed assets | 4,162 | 4,162 | |
| Current assets | 22,482 | 22,482 | |
| Creditors less than 1 year | (1,550) | (1,550) | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Net assets | 25,094 | 25,094 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Unrestricted | Total Funds | ||
| Funds | 2022 | ||
| £ | £ | ||
| Tangible fixed assets | 5,322 | 5,322 | |
| Current assets | 25,955 | 25,955 | |
| Creditors less than 1 year | (2,258) | (2,258) | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Net assets | 29,019 | 29,019 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 18. | Capital commitments | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Contracted but not provided for in the financial statements | 6,692 | 6,692 |
19. Related parties
There were no related party transactions for the year ended 31 August 2023.
11
Nestlings Pre School Management Information
Year ended 31 August 2023
The following pages do not form part of the financial statements.
12
Nestlings Pre School
Detailed Statement of Financial Activities
Year ended 31 August 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | 116 | – |
| Admissions | 12,636 | 14,632 |
| Government grant income | 101,863 | 84,831 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 114,615 | 99,463 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Other trading activities | ||
| Fundraising events | 399 | 370 |
| ৄৄৄৄ | ৄৄৄৄ | |
| Investment income | ||
| Bank interest receivable | 102 | 3 |
| ৄৄৄৄ | ৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Total income | 115,116 | 99,836 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| Expenditure | ||
| Expenditure on charitable activities | ||
| Wages and salaries | 92,618 | 86,582 |
| Pension costs | 2,256 | 1,922 |
| Rent | 2,183 | 883 |
| Light and heat | 4,050 | 3,359 |
| Insurance | 606 | 606 |
| Other establishment | 4,909 | 4,558 |
| Legal and professional fees | 1,945 | 2,000 |
| Telephone | 697 | 719 |
| Other office costs | 865 | 743 |
| Depreciation | 1,440 | 1,803 |
| Consumable equipment | 5,797 | 4,623 |
| Activity & excursion costs | 569 | 100 |
| Training | 346 | 1,129 |
| Premises insurance | 760 | 748 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 119,041 | 109,775 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Total expenditure | 119,041 | 109,775 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Net expenditure | (3,925) ৶৶৶৶৶৶৶৶৶ |
(9,939) ৶৶৶৶৶৶৶৶৶ |
13