Annual Trustees Report 2024-25.
The introduction of funding for younger children has been something at the forefront of our financial planning for this year. We always expected it to be an interesting addition, hopefully a positive one.
We made the decision to lower our intake age or risk being less favourable to potential families.
This year we spent an extensive amount of money on improving the community centre, approximately £13.5k, decorating, funding a project of expanding storage in exchange for the use of an additional part of the building, suitable for children 0-2yrs. We funded the renovation of the baby room and all facilities we would need to be able to expand our offer. We feel this was an investment that would enable a positive expansion for the pre-school.
Voluntary contributions have been impacted by the cost of living crisis, many families being unable to pay the consumable donation.
We do not hold as many paid fundraisers due to struggling families but have still offered treats to our families where possible, Christmas party and gift, graduation, easter party etc.
The trustees recognised the impact of Covid on lots of families and last year we increased our fees very slightly for the first time in 4 years, the majority of our families are fully funded.
The impact of the huge increase in NLW has impacted our expenditure on wages and has risen significantly compared to funding rates for children. This will be monitored and fees will continue to be assessed bi-annually. Due to our sustained numbers we are happy to remain financially profitable. We anticipate the investment in the baby room will help to keep us sustainable in the competitive market.
Trustees would like to thank staff for their undisputed dedication and consistent hard work for yet another successful year.
Without such an affordable and empathetic team, families and the local community would be detrimentally impacted.
We have continued to financially and physically support families in times of desperate need and will strive to continue to do so for as long as possible.
Little Admirals Pre-school
Income/Expenditure Statement for the period 1/4/2024-31/3/2025
| Income Portsmouth City Council (NEG funding) Fees Total Income Expenditure Staff Wages Rent Insurance/Membership Bank Service Charges/subscriptions Accountants/Payroll/Court Fees Phone /Internet/postage Training Equipment/Materials I.T equipment Consumables/snack Furniture Uniforms Buildings Christmas/Leaving presents Waste removal/sanitary/water machine Misc Total Expenditure Net Surplus Bank balance at 1/4/24 Net Surplus as above Bank balance at 31/3/25 Savings account balance at 1/4/24 Interest Transferred to business account Savings account balance at 31/3/25 |
£ 339,721 26,896 |
|---|---|
| 366,617 | |
| 175,153 13,943 9,818 190 1,364 712 4,696 16,638 1,983 9,399 2,162 1,446 13,499 3,429 1,032 223 |
|
| 260,250 | |
| 106,367 | |
| 24,911 106,367 |
|
| 131,278 | |
| 50,530 564 |
|
| 51,093 |
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ Charity Name Little Admirals Pre School members of On accounts for the year 31/3/2025 Charity no 1082960 ended (if any) Set out on pages n/a (remember to include the page numbers of additional sheets)
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 / 03 / 2025
- Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report 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 2011 Act and in carrying out my examination, I have followed 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 which gives me cause to believe that in, any material respect:
-
accounting records were not kept in accordance with section 130 of the Act or
-
the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
- Please delete the words in the brackets if they do not apply.
Date: 27/01/2026
Signed: Name: LOUISE ETHERINGTON ACMA CGMA ~~Ce~~ Relevant professional CIMA QUALIFIED (ACMA CGMA) qualification(s) or body (if any): Address: 25 Mayles Road Southsea PO4 8NP
1
October 2018
IER