REGISTERED CHARITY NUMBER: 1081087 **Report of the Trustees and** ## **Unaudited Financial Statements** **For the Year Ended 31 August 2023** **for** **Boley Park Preschool** ## **Boley Park Preschool** ## **Contents of the Financial Statements** ## **for the Year Ended 31 August 2023** ||**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 Statements|10| ## **Boley Park Preschool** ## **Report of the Trustees for the Year Ended 31 August 2023** The trustees present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered charity number** 1081087 ## **Principal address** Boley Park Community Hall 7 Boley Park Centre Ryknild Street Lichfield Staffordshire WS14 9XU ## **Trustees** M Varley - Griffin ## **Independent examiner** Midas Accountants 183 Walsall Road Great Wyrley Walsall WS6 6NL Approved by the board of trustees on [date] and signed on its behalf by: **----- Start of picture text -----**
03-06-2024
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M Varley-Griffin - Trustee 1 ## **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 2023 ## **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: - 1 accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or - 2 the accounts do not accord with those records; or - 3 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 requirements that the accounts give a true and fair view which is not a matter considered as part of an independent exam. 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. Midas Accountants and Business Consultants Limited 183 Walsall Road Great Wyrley Walsall West Midlands WS6 6NL 2 ## **Boley Park Preschool** ## **Statements of Financial Activities for the Year Ended 31 August 2023** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
2
**Total**
EXPENDITURE ON
Raising funds
Charitable activities
General
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds bought forward
**TOTAL FUNDS CARRIED FORWARD**|**31.8.23**
**Unrestricted**
**fund**
**£**
78,028
115
78,143
64,214
6,068
70,282
7,861
33,682
41,543|31.8.22
Total
funds
£
65,229
1| |---|---|---| |||65,230| |||53,937
6,453| |||60,390| |||4,840
28,842| |||33,682| 3 ## **Boley Park Preschool** ## **Balance Sheet** ## **for the Year Ended 31 August 2023** |Notes
**FIXED ASSETS**
Tangible assets
5
**CURRENT ASSETS**
Debtors
6
Cash at bank
**CREDITORS**
Amounts falling due within one year
7
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
8
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|**31.8.23**
**Unrestricted**
**fund**
**£**
0
550
42,080
42,630
(1,087)
41,543
41,543
41,543
28,101
13,442
41,543|31.8.22
Total
funds
£
0
155
35,061| |---|---|---| |||35,216
(1,534)| |||33,682| |||33,682| |||33,682| |||33,682
0| |||33,682| The financial statements were approved by the Board of Trustees and authorised for issue on [date] and were signed on its behalf by Trustee 4 **Boley Park Preschool** ## **Notes to the Financial statements - continued for the Year Ended 31 August 2023** ## **1 ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS102 have been prepared in accordance with the Charities SORP (FRS102) '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 (FRS102) (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 costs 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 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 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 charges to the statement of Financial Activities in the period to which they relate. 5 **Notes to the Financial statements - continued for the Year Ended 31 August 2023** ## **Boley Park Preschool** |**2**|**INVESTMENT INCOME**|**31.8.23**|31.8.22|| |---|---|---|---|---| |||**£**|£|| ||Deposit account interest|115||1| ## **3 TRUSTEE REMUNERATION AND BENEFITS** There were no trustee's remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022. ## **4 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** ||Unrestricted| |---|---| ||fund| ||£| |**INCOME AND ENDOWMENTS FROM**|| |Donations and legacies|65,229| |Investment income|1| |**Total**|65,230| |**EXPENDITURE ON**|| |Raising funds|53,937| |**Charitable activities**|| |General|6,453| |**Total**|60,390| |**NET INCOME**|4,840| |**RECONCILIATION OF FUNDS**|| |Total funds bought forward|28,842| |**TOTAL FUNDS CARRIED FORWARD**|33,682| 6 ## **Boley Park Preschool** ## **Notes to the Financial statements - continued** **for the Year Ended 31 August 2023** ## **5 TANGIBLE FIXED ASSETS** |**COST**
At 1 September 2022 and 31 August 2023
**DEPRECIATION**
At 1 September 2022 and 31 August 2023
**NET BOOK VALUE**
At 31 August 2023
At 31 August 2022|Equipment
£
487| |---|---| ||487| ||0| ||0| ## **6 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade debtors
Other debtors
**7**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Taxation and social security
Other creditors
**8**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
Designated funds
**TOTAL FUNDS**|31.8.23
£
-
550
550
31.8.23
£
-
(353)
1440
1087
Net
movement
At 1.9.22
in funds
£
£
33,682
(5,581)
0
13,442|31.8.22
£
155| |---|---|---| |||155| |||31.8.22
£
1
96
1437| |||155| |||At
31.8.23
£
28,101
13,442| ||33,682
-5,581
41,543|| At 31 August 2023 the trustees transferred £13,442 to designated funds. The purpose of the fund is to provide play equipment. 7 **Boley Park Preschool** ## **Notes to the Financial statements - continued for the Year Ended 31 August 2023** ## **8 MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |Incoming
resources
£
**Unrestricted funds**
General funds
64,701
Designated funds
13,442
**TOTAL FUNDS**
**78,143**
**Comparatives for movement in funds**
At 1.9.22
£
**Unrestricted funds**
General fund
28,842
28,842
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
65,229
**TOTAL FUNDS**
65,229
A current year 12 months and prior year 12 months combined position is as follows:
At 1.9.22
£
**Unrestricted funds**
General fund
28,842
**TOTAL FUNDS**
28,842|Resources
expended
£
70,282
-
**70,282**
Net
movement
in funds
£
4,840
4,840
Resources
expended
£
(60,390)
(60,390)
Net
movement
in funds
£
12,701
12,701|Movement
in funds
£
(5,581)
13,442| |---|---|---| |||**7,861**| |||At
31.8.23
£
33,682| |||33,682| |||Movement
in funds
£
4,839| |||4,839| |||At
31.8.23
£
41,543| |||41,543| 8 ## **Boley Park Preschool** ## **Notes to the Financial statements - continued** **for the Year Ended 31 August 2023** ## **8 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: |**Unrestricted funds**
General fund
Designated funds
**TOTAL FUNDS**|Incoming
resources
£
129,931
13,442
143,373|Resources
expended
£
130,672
-
130,672|Movement
in funds
£
(741)
13,442| |---|---|---|---| ||||12,701| ## **9 Related party disclosures** There were no related party transactions for the year ended 31 August 2023. 9 ## **Boley Park Preschool** ## **Detailed statement of Financial Activities for the Year Ended 31 August 2023** ## **INCOME AND ENDOWMENTS** |**Donations and Legacies**
Local Authority funding
Preschool fees
Fundraising
Milk refunds
Gifts and donations
Misc. income
**Investment Income**
Deposit account interest
Total incoming resources
**EXPENDITURE**
**Raising donations and legacies**
Wages
Pensions
Hall hire
**Charitable activities**
Insurance
Telephone
Stationery
Miscellaneous expenses
Consumables and snacks
Equipment and resources
Fundraising expenses
DBS and Ofsted
Training
Subscriptions
Outings
Hygiene
**Support costs**
**Information technology**
Plant and machinery depreciation
**Governance costs**
Accountancy and legal fees
Computer and internet costs
Total resources expended
**Net income**|31.8.23
£
43,294
28,491
2,459
433
2,600
751
78,028
115
78,143
57,192
281
6,741
64,214
513
102
64
642
752
470
87
77
342
177
844
413
4,483
-
1,585
-
1,585
70,282
7,861|31.8.22
£
40,387
21,934
1,953
200
300
455| |---|---|---| |||65,229
1| |||65,230
46,996
506
6,435| |||53,937
513
96
158
655
570
1,688
-
-
270
121
262
278| |||4,611
98
1,566
178| |||1,744| |||60,390| |||| |||4,840| 10 ## **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 lots of new members joining the committee, replacing parents who left due to their children starting school. The Chair and Treasurer remained the same. We were very lucky to have a parent with a construction industry background join us, who was happy to project manage the extension of our outdoor play area. Many meetings were held to discuss plans, with work planned to start October 2024. There was a large increase in numbers of children starting at pre-school throughout the year, with us being full to capacity for the first time in a very long while. We continue to involve parents as much as possible in the life of pre-school, with regular updates through an online platform as well as parent meetings and half-termly 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 such as an Autumn Walk, a visit to Lichfield Cathedral and the library, and bean planting at a local garden centre. Our annual summer trip this year was to a local farm, with the trip being partially subsidised from 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. With the outdoor area refurbishment in sight we made a huge effort to raise the required funds. For the first time in 4 years we held a Spring Fair which raised £1500, plus a Christmas raffle and sponsored event. We were fortunate to be the recipients of a donation of £2000 from Persimmon Homes, which will go towards buying outdoor play equipment for the children to enjoy. We aim to not drop below £17,000 in our current bank account, which is sufficient to cover 3 months of expenses. At the end of our financial year 2022-23 we had £19,435 in our current account. The number of children attending pre-school remains steady and we are in a stable position financially so the management committee feels that the future of the pre-school is looking very positive. Signed on Behalf of the Trustees and Committee of Boley Park Pre-school