Charity number 1080344
The Shore Pre-School
Unaudited Accounts
31 March 2024
The Shore Pre-School Contents
| Page | |
|---|---|
| Trustees' annual report | 2-3 |
| Independent examiner's report | 4 |
| Statement of Financial Activities | 5-6 |
| Statement of Financial Position | 7 |
| Notes to the accounts | 8 |
The Shore Pre-School Information
Trustees
Miss K Constable (Chairperson) Ms G Giles Ms M Pothecary
Accountants
Cochrane & Co Accountants Limited 38 Kings Road Lee-on-the-Solent Hampshire PO13 9NU
Bankers
Lloyds TSB Plc Woolston Branch Southampton
Address
Weston Shore Infants School Foxcott Close Weston Southampton Hampshire SO19 7JQ
1
The Shore Pre-School Trustee's annual report for the year ended 31 March 2024
The trustees present their report together with the financial statements of the charity for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity's constituition, the Charities Act 2011 and the Charities SORP.
Governing document
The organisation is constituted with charitable principles governed by a Standard Pre-School Learning Alliance (PLA) constitution. In the event of the organisation being dissolved, the members have no liabilities. Any assets would be transferred to the PLA.
Manangement committee
Committee members are elected for a term of one year, and can be re-elected for a total term not to exceed ten consecutive years.
Membership
Membership is divided into two types, family and affiliate. Family membership covers parents and guardians of children attending the pre-school. Affiliate membership is open to individuals, organisations or other bodies interested in supporting the aims of the pre-school.
Objects and activities
The organisation's aims are to enhance the development and education, primarily under the statutory school age. The organisation promotes these aims through offering appropriate play, education and care facilities.
Public benefit
The main activities for public benefit undertaken during the year were the provision of child care sessions from Monday to Friday for 38 weeks of the year.
The trustees are responsible for the overall running of the pre-school and held regular meetings during the year. The trustees have had regard to the guidance on public benefit issued by the Charities Commission, when exercising any powers or duties to which the guidance may be relevant.
Reserves policy
The trustees have decided that reserves are required to; cover short term expenditure incurred whilst waiting for the next funding payment, provide security for the future of the pre-school, enable the preschool to meet statutory requirements for sick pay for it's staff and to meet redundancy costs in the event of the pre-school closing.
At 31 March 2024 unrestricted reserves totalled £163,196 and restricted reserves totalled £15,265, giving total reserves of £178,461.
2
The Shore Pre-School Trustee's annual report for the year ended 31 March 2024
Financial review and funding
The principal funding source continues to be the subsidy provided by Southampton City Council. These funds are topped up by the fees charged to parents and guardians, together with the other fund raising activities.
This year the organisation has continued to expand the education and care facilities to include specific staff training and equipment for special needs children.
The organisation continues to work towards raising money for capital equipment.
Statement of trustees responsibilities;
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales/Northern Ireland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-select suitable accounting policies and then apply them consistently;
-observe the methods and principles in the Charities SORP 2015 (FRS 102);
-make judgements and estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (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.
Approved by the management committee on
Signed on it's behalf by;
Katrina Constable Chair
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The Shore Pre-School Registered charity number 1080344
Independent Examiner's Report to the Trustees of The Shore Pre-School on the accounts for the Year ended 31 March 2024
I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 March 2024, which are set out on pages 5 to 8.
Responsibilities and basis of report
As the charity's trustees 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 charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed applicable Directions given by the charity Commission under section 145(5)(b) of the Act.
Independent Examiner’s Statement
The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of ICAEW.
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 2. 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.
J Cochrane, FCA
ICAEW
Cochrane & Co Accountants Limited, 38 Kings Road, Lee-on-the-Solent, Hampshire, PO13 9NU
4
The Shore Pre-School Statement of Financial Activities for the year ended 31 March 2024
| Incoming resources Grants Fees Fundraising Bank interest Transferred from Weston Pre-School Other grants Total Incoming resources Resources expended Fee earning activities Wages and salaries Employer's NI Employers pension Staff benefits Rent Insurance Recruitment Milk Clothing costs Trips and events Christmas Equipment, including garden |
Unrestricted funds Restricted funds Total Funds 2024 £ £ £ 225,816 156,584 382,400 21,503 18,356 39,859 530 213 743 1,067 0 1,067 - 10,312 10,312 - 37,170 37,170 248,916 222,635 471,551 168,345 154,891 323,236 7,787 5,698 13,485 3,252 1,525 4,777 985 1,503 2,488 11,960 14,960 26,920 1,041 606 1,647 227 324 551 1,221 892 2,113 304 1,819 2,123 677 681 1,358 103 473 576 3,346 11,771 15,117 199,248 195,143 394,391 |
Total Funds 2023 £ 205,379 22,241 565 182 - 34,067 262,434 199,189 5,426 2,962 2,394 11,443 1,003 131 2,682 772 643 132 2,538 229,315 |
|---|---|---|
5
The Shore Pre-School Statement of Financial Activities for the year ended 31 March 2024
| Governance costs Bookkeeping Stationery, postage and photocopying Accountancy Telephone Repairs and renewals-property Subscriptions Staff training Depreciation DBS Cleaning Other Total resources expended Net incoming resources Reconciliation of funds; Total funds brought forward Total funds carried forward |
1,450 930 2,380 1,582 1,834 3,416 1,763 1,020 2,783 1,283 0 1,283 1,311 1,641 2,952 50 35 85 1,082 1,355 2,437 3,117 2,979 6,096 240 504 744 3,258 1,247 4,505 558 682 1,240 15,694 12,227 27,921 214,942 207,370 422,312 33,974 15,265 49,239 129,222 0 129,222 163,196 15,265 178,461 |
1,230 1,008 1,242 902 71 285 3,870 2,173 129 2,420 369 13,699 243,014 19,420 109,802 129,222 |
|---|---|---|
6
The Shore Pre-School Statement of Financial Position as at 31 March 2024
| Notes Fixed assets Equipment, machinery and motor vehicles 12 Current assets Stock of clothing Outstanding fees Cash at bank Cash in hand Prepayments Current liabilities Accruals Net current assets Net assets Funds of charity Unrestricted fund Net unrestricted surplus for the year Restricted fund |
150 3,748 161,010 - 790 165,698 5,524 |
2024 £ 18,287 160,174 178,461 129,222 33,974 15,265 178,461 |
150 696 122,316 585 1,032 124,779 2,075 |
2023 £ 6,518 122,704 129,222 109,802 19,420 - 129,222 |
|---|---|---|---|---|
These accounts were approved by the trustees on and signed on it's behalf by;
Katrina Constable Chair
7
The Shore Pre-School Notes to the Accounts for the year ended 31 March 2024
1 Accounting policies
Basis of preparation of accounts
The accounts have been compiled on an accruals basis for the information of the preschool committee and it's members. As such, the preparation of these accounts is governed by the SORP (FRS 102) and with the Charities Act 2011.
The accounts include the transactions of both The Shore Pre-School and it's linked charity. The linked charities figures are included in restricted funds.
The charity is unincorporated.
The charity is a public benefit entity.
Incoming resources
All incoming resources are included in the Statement of Financial Activities, when the charity becomes entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular catagories of income:
Fee income is received from the local Education Authority and from parents and guardians. This is included in the accounts on a receivable basis.
Clothing, brochures and items for resale are included as income when they are sold.
Income from grants and subsidies are accounted for when received.
Outgoing resources
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT, which cannot be recovered and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the organisation delivering its services to the members. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the organisation.
Fund accounting
Unrestricted funds are available for use at the discretion of the management committee in furtherance of the aims of the organisation. Restricted funds represent the funds of the linked charity.
Stocks
Stock represents the value of unsold clothing and brochures at the balance sheet date.
Depreciation
Depreciation has been provided at 25% reducing balance
8
The Shore Pre-School Notes to the Accounts for the year ended 31 March 2024
- 2 Pre-School Learning Alliance The pre-school is a member of the Pre-School Learning Alliance, and as such, is exempt from taxation on its activities.
3 Management Committee
No members of the management committee received any remuneration during the year.
No committee member or other person related to the charity had any personal interest in any contract or transaction enetered into by the organisation during the year.
4 Accumulated Fund
All funds and assets are for the benefit of the pre-school members.
5 Employee numbers
There were 29 employees during the year (2023 17 employees).
6 Presentation currency
The accounts are presented in Sterling.
7 Independent examiners fees
During the year fees of £1,242 were paid to the Independent examiner.
8 Trustee remuneration
During the year two trustees were paid remuneration as follows; Ms G Giles £43,496
M Pothecary £33,553
Amounts were paid via their contracts of employment with the pre-school.
9 Trustees expenses
No expenses were paid to trustees in the year.
10 Employees
No individual employee was paid over £60,000.
11 Related party transactions.
There are no related party transactions.
9
The Shore Pre-School Notes to the Accounts for the year ended 31 March 2024
12 Plant, machinery and motor vehicles
| Cost At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Plant and machinery £ 27,724 17,865 45,589 21,206 6,096 27,302 18,287 6,518 |
|---|---|
Of the assets purchased during the year £11,917 related to the linked charity.
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