REGISTERED CHARITY NUMBER: 1081087
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31st August 2022
for
Boley Park Preschool
LBS Accountants Old Coach House 67A Upper St John Street LICHFIELD Staffordshire WS14 9DU
Boley Park Preschool
Contents of the Financial Statements for the Year Ended 31st August 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 | to | 11 |
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Independent Examiner's Report to the Trustees of
Boley Park Preschool
Independent examiner's report to the trustees of Boley Park Preschool
I report to the charity trustees on my examination of the accounts of Boley Park Preschool (the Trust) for the year ended 31st August 2022.
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
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.
M E Mottershead
LBS Accountants Old Coach House 67A Upper St John Street LICHFIELD Staffordshire WS14 9DU
15th May 2023
Page 2
Boley Park Preschool
Statement of Financial Activities for the Year Ended 31st August 2022
| 31.8.22 | 31.8.21 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 65,229 | 54,851 | |
| Other trading activities | 2 | - | 2,446 |
| Investment income | 3 | 1 | 1 |
| Total | 65,230 | 57,298 | |
| EXPENDITURE ON | |||
| Raising funds | 53,937 | 49,575 | |
| Charitable activities | |||
| General | 6,453 | 4,622 | |
| Total | 60,390 | 54,197 | |
| NET INCOME | 4,840 | 3,101 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 28,842 | 25,741 | |
| TOTAL FUNDS CARRIED FORWARD | 33,682 | 28,842 |
The notes form part of these financial statements
Page 3
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Boley Park Preschool
Notes to the Financial Statements for the Year Ended 31st August 2022
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.
Equipment - 20% 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.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Page 5
continued...
Boley Park Preschool
Notes to the Financial Statements - continued for the Year Ended 31st August 2022
2. OTHER TRADING ACTIVITIES
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 31.8.22 | 31.8.21 | ||
| £ | £ | ||
| Job Retention Scheme Grant | - | 2,446 | |
| 3. | INVESTMENT INCOME | ||
| 31.8.22 | 31.8.21 | ||
| £ | £ | ||
| Deposit account interest | 1 | 1 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st August 2022 nor for the year ended 31st August 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st August 2022 nor for the year ended 31st August 2021.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 54,851 |
| Other trading activities | 2,446 |
| Investment income | 1 |
| Total | 57,298 |
| EXPENDITURE ON | |
| Raising funds | 49,575 |
| Charitable activities | |
| General | 4,622 |
| Total | 54,197 |
| NET INCOME | 3,101 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 25,741 |
| TOTAL FUNDS CARRIED FORWARD | 28,842 |
Page 6
continued...
Boley Park Preschool
Notes to the Financial Statements - continued for the Year Ended 31st August 2022
6. TANGIBLE FIXED ASSETS
| 6. | TANGIBLE FIXED ASSETS | |||||
|---|---|---|---|---|---|---|
| Equipment | ||||||
| £ | ||||||
| COST | ||||||
| At 1st September 2021 and | ||||||
| 31st August 2022 | 487 | |||||
| DEPRECIATION | ||||||
| At 1st September 2021 | 389 | |||||
| Charge for year | 98 | |||||
| At 31st August 2022 | 487 | |||||
| NET BOOK VALUE | ||||||
| At 31st August 2022 | - | |||||
| At 31st August 2021 | 98 | |||||
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 31.8.22 | 31.8.21 | |||||
| £ | £ | |||||
| Trade debtors | 155 | - | ||||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 31.8.22 | 31.8.21 | |||||
| £ | £ | |||||
| Trade creditors | 1 | 1 | ||||
| Taxation and social security | 96 | 62 | ||||
| Other creditors | 1,437 | 840 | ||||
| 1,534 | 903 | |||||
| 9. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| movement | At | |||||
| At 1.9.21 | in funds | 31.8.22 | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 28,842 | 4,840 | 33,682 | |||
| TOTAL FUNDS | 28,842 | 4,840 | 33,682 |
continued...
Page 7
Boley Park Preschool
Notes to the Financial Statements - continued for the Year Ended 31st August 2022
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 65,230 | (60,390) | 4,840 |
| TOTAL FUNDS | 65,230 | (60,390) | 4,840 |
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.9.20 | in funds | 31.8.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 25,741 | 3,101 | 28,842 |
| TOTAL FUNDS | 25,741 | 3,101 | 28,842 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 57,298 | (54,197) | 3,101 |
| TOTAL FUNDS | 57,298 | (54,197) | 3,101 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.9.20 | in funds | 31.8.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 25,741 | 7,941 | 33,682 |
| TOTAL FUNDS | 25,741 | 7,941 | 33,682 |
continued...
Page 8
Boley Park Preschool
Notes to the Financial Statements - continued for the Year Ended 31st August 2022
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 122,528 | (114,587) | 7,941 |
| TOTAL FUNDS | 122,528 | (114,587) | 7,941 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st August 2022.
Page 9
Boley Park Preschool
Detailed Statement of Financial Activities for the Year Ended 31st August 2022
| 31.8.22 | 31.8.21 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Local Authority funding | 40,387 | 33,881 |
| Preschool Fees | 21,934 | 18,963 |
| Fundraising | 1,953 | 906 |
| Milk refunds | 200 | 333 |
| Gifts and donations | 300 | 74 |
| Miscellaneous income | 455 | 694 |
| 65,229 | 54,851 | |
| Other trading activities | ||
| Job Retention Scheme Grant | - | 2,446 |
| Investment income | ||
| Deposit account interest | 1 | 1 |
| Total incoming resources | 65,230 | 57,298 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Wages | 46,996 | 43,464 |
| Pensions | 506 | 184 |
| Hall hire | 6,435 | 5,927 |
| 53,937 | 49,575 | |
| Charitable activities | ||
| Insurance | 513 | 509 |
| Telephone | 96 | 124 |
| Stationery | 158 | 101 |
| Miscellaneous expenses | 655 | 396 |
| Consumables and snacks | 570 | 565 |
| Equipment and resources | 1,688 | 574 |
| Training | 270 | 191 |
| Subscriptions | 121 | 121 |
| Outings | 262 | - |
| Hygiene | 278 | 253 |
| 4,611 | 2,834 | |
| Support costs | ||
| Information technology | ||
| Plant and machinery | 98 | 97 |
This page does not form part of the statutory financial statements
Page 10
Boley Park Preschool
Detailed Statement of Financial Activities for the Year Ended 31st August 2022
| 31.8.22 | 31.8.21 | |
|---|---|---|
| £ | £ | |
| Information technology | ||
| Governance costs | ||
| Accountancy and legal fees | 1,566 | 1,652 |
| Computer and internet costs | 178 | 39 |
| 1,744 | 1,691 | |
| Total resources expended | 60,390 | 54,197 |
| Net income | 4,840 | 3,101 |
This page does not form part of the statutory financial statements
Page 11
Charity Name: Boley Park Pre-School
Registered Charity Number: 1081087
Address: Boley Park Community Hall, 7 Ryknild Street, Lichfield, WS14 9XU
The new financial and academic year began with some new members of staff who are an excellent addition to the team, and seem to have settled in really well. The core committee remained the same with some new parents also joining. The pre-school continues to grow with plenty of new starters joining in September. We continue to involve parents as much as possible in the life of preschool, with regular updates through an online platform as well as parent meetings and halftermly newsletters. We also encourage parents to get involved with trips and committee activities.
We pride ourselves in arranging a variety of fun and educational trips, designed to enrich each child’s learning. Many of these are free to attend and we were delighted to be able to resume them with Covid restrictions easing. Throughout the year our children have been on an Autumn Walk and visited Lichfield Cathedral, been on a tractor & trailer ride at a local farm and been to a local garden centre. We also had the Animal Man into pre-school and visited a local adventure farm. Both of these trips were subsidised out of excess funds. The children also enjoyed a teddy bear’s picnic in the park, an end of term party and the school leavers’ graduation ceremony.
The staff and committee are very grateful for the support from parents and the local community in helping us to fundraise throughout the year. We are still saving towards updating and improving our outdoor play area. We held 2 raffles which raised £800 between them, as well as holding a mini fair at the end of the summer term which raised just over £200. The children took part in a sponsored reading challenge and bought cuddly toys which collectively raised £330.
We currently hold £7,206.63 in our reserve account. This is enough to cover redundancies for all members of the pre-school staff. In our current account, we aim to not drop below £15,000, which is sufficient to cover 3 months of expenses. At the end of our financial year 2021-22 we had £18,424 in our current account. The number of children attending pre-school remains steady and we are in a stable position financially so I feel that the future of the pre-school is looking very positive.
Signed on Behalf of the Trustees and Committee of Boley Park Pre-school