## **BLUE COAT PRE-SCHOOL UNIT AND BUSY BEES**
## **Annual Report for year ending 31 March 2024**
**Name:** Blue Coat Pre-School and Busy Bees **Address:** Symn Lane, Wotton under Edge, Gloucestershire, GL12 7BD
## **Registration number:** 1092513
**Trustee Details:** The following were trustees on the date that this report was approved:
Mark Gilling Chairperson Jo Jess Secretary Jo Stansfield Finance Officer / Treasurer Anna Yarker Management Trustee Esther Beeby Management Trustee Kat Potts Management Trustee Gemma Lawson Management Trustee **Delegated roles:** Victoria Starling Head of Pre School and Busy Bees Jo Bell Administrator
## **Other relevant roles:**
Independent examiner Jo Roberts, Willow Accountancy Bankers Lloyds, Stroud
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## **Report of the Trustees**
The Trustees present their report along, with the financial statements for the year ended 31 March 2024
## **Committee**
No new Trustees were elected at the AGM in 2023. Mark Gilling was re-elected as Chairperson, Jo Jess as Secretary and Jo Stansfield as Finance Officer/Treasurer.
## **Structure, Governance & Management Constitution**
The Charity is constituted using the Gloucestershire PATA Constitution, with no further amendments as approved at the AGM in 2020.
## **Organisational Structure**
Meetings are every half term where committee members are kept up to date by the Head of the Unit and Administrator, who attend the meetings in an advisory capacity. Committee members make decisions based on the information received regarding staffing issues, financial matters and taking the Unit forward.
## **Trustee Appointment**
The trustees are appointed at the Annual general meeting held in the autumn term by members who attend the meeting. The committee currently consists of a Chairperson, a Secretary, a Finance Officer, at least 3 elected members and 2 delegated members.
## **Trustee Induction and Training**
New committee members are able to attend a Management Committee training course run by PATA. In addition, the Head of the Unit provides all trustees with an overview of the Early Years Foundation Stage – The Statutory Framework and a summary look at the requirements set out in the Childcare Register. All Trustees have undertaken a Level 2 Safeguarding training course.
## **Management**
Day to day decisions are made by the Head of the Unit and the Administrator with input from other members of staff, and regular contact with the Finance Officer and Chair. The management committee makes major financial and staffing decisions that affect the structure of the unit at committee meetings.
Trustees are kept well informed by the Head of the Unit and Administrator as to any potential issues or risks, e.g., safeguarding concerns, cash flow, managing expenditure, legal and administrative changes and staffing.
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## **Objectives**
The main objectives for this financial year were:
- To continue careful financial control to ensure stability of the Unit
- Maintain a safe & stable environment for our Children, Staff and parents/carers
- Review and update all staff employment contracts with support of newly appointed HR consultant
- Maintain a high standard of provision in line with OFSTED framework
- Continue the successful management of the 30 hours funding
- Re-invest funds into the Unit
- Improvements to the playground/outdoor area surface and fencing
- A smooth transition to Famly, the admin platform for early educators
- To move from Tapestry to Famly for Children’s Learning Journeys
- Maintain our strong relationship with the school
## **Highlights**
The following report outlines the highlights of Blue Coat Pre School and Busy Bees business for the period 1 April 2023 to 31 March 2024.
## **Staffing changes**
There have been some staffing changes to the Unit, but they continue to work cohesively.
Whilst we continue to support and be supported by 6[th] form students from Katharine Lady Berkeley School and other local colleges, whose role is to play with and care for the Busy Bees children, we have aimed to have a higher ratio of qualified staff to students in Busy Bees this year to enable more planned activities to be undertaken with the children.
## **Investment in IT**
This financial year, the Unit continued to use Famly, an online admin system for early educators. We are utilising Famly for checking children in and out of the unit and for invoices and communication with parents/carer about their children’s activities and progress, and other general admin. This has resulted in improved efficiencies and, we believe, benefits for parents/carers. Staff and trustees use social media to promote the excellent work of the Unit and connect with parents and carers.
## **Re-investment of funds into the Unit**
The Unit continues to invest to improve the indoor and outdoor space for our children, as well as the purchase of new indoor and outdoor toys for the Unit to ensure that the children are able to benefit from a wide range of equipment in a safe and comfortable environment. We also built a new staffroom/garden office to give our staff space to enjoy their lunch break, which also serves as a meeting room for staff if needed, plus breakout space for small group work with the children.
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## **Other Achievements**
- Achieved Millie’s Mark accreditation, for excellence paediatric first aid.
- We provided first aid courses to our Busy Bees students and parents/carers.
- Continued building relationships with the local community - in particular The Keepers.
- Supported our Toggles children to give them a positive transition into full time education.
- Held a successful open day to show existing and new parents/carers our wonderful setting.
- Reviewed and updated the employment contracts for all staff to ensure they remain fair and clear.
- Expansion of the Busy Bees Out of School provision to take up to 65 children after school
- Invested in staff training
- Took on an Apprentice
- Invested in Garden Room, Gazebo, New Toys, IT (Laptops), storage units and kitting out the kitchen with proper storage and equipment
- Partnership with parents – Lending Library, Mother’s Day Tea, Summer Trip
Once again, our main achievement is the teamwork of the staff. Everyone continues to go over and above their job role in the last year, during these very difficult times. New staff have been welcomed and help us improve our practice day to day
## **Attendance**
It was a good year for Toggles and Busy Bees. We are running at near capacity in preschool – even with the new staff – with a large number of 2-year-olds attending. Busy Bees remains busy, both morning and evening
## **Forthcoming Objectives and Highlights**
- Continue to support children and families in need with the provision of subsidised childcare
- Restructure the toilets in the Buttons room
- Ensure readiness for possible OFSTED visit
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## **Chairs report:**
As I come to the end of my 6th and final year as a Trustee, with 5 of those as chair. I am continuously blown away by management of the unit and the staff who show their commitment, enthusiasm, care and passion on a daily basis that makes the whole unit so popular, lively and such a great place for our children to be.
The team continue to provide a first-class service to the children, and this is more than evident in the atmosphere and noise levels coming from the unit throughout the day. On behalf of all the trustees I would like to thank all our staff who always go over and above, and especially our Unit Manager Vicky, and Administrators Jo & Esther.
This year we continued to invest into the unit, we have (hopefully) addressed the outdoor space and have invested considerably in a new building to allow for our staff to have their breaks in comfort but also a private space for meetings such as SEN and parent updates. We now have a new fence, no more escape from Alcatraz type attempts, and I think it makes a massive different to the look and feel of the unit. In 24/25 I hope we can start to develop our inside space a bit more – and the trustees will share more on this over the coming months.
We continue to support our fund that allows us to provide preschool and Busy Bees care for children whose parents/carers are experiencing financial difficulties or perhaps for safeguarding reasons. And have been able to provide 1,299 hours over the past year, 2,843 in total since we started to record. To me this is a fantastic achievement and one that I am proud to have been able to support in my time as chair.
We are always looking at ways that we can reinvest funds into the unit and to support our children, parents and carers, and are hoping to be able to do more trips next year, similar to the Cattle Country event last year.
Our numbers continue to remain high with us often being full in both Pre-school & Busy Bees, we continue to recruit new and experienced staff to increase our ability and sometimes to unfortunately replace team members who move on to further their career.
The relationship we have with the school and governors grows each year and this will continue.
We are continuing to review our pay & reward policy within Preschool & Busy Bees and have made amends to our pay and reward this year which will, we hope, be seen as further evidence of our commitment as Trustees to the wellbeing of our employees.
As always, it is important that we have a well-rounded and involved group of trustees on board to support the unit across preschool & Busy Bees. so please, if you are on the fence about volunteering, throw caution to the wind and put your hand up later in the session, I promise you won’t regret it.
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## **Financial Review – 2023-2024**
The attached accounts show the financial position of Blue Coat Pre-School and Busy Bees for the year ended 31[st] March 2024. Note: this year, our income exceeded a £250,000 threshold, requiring us to move to an accruals accounting basis (previously we were able to use a simpler “receipts and payments” approach).
- The principal sources of funding for the Unit are Fees, paid by parents, and Nursery Education Funding (Nursery Grant), paid by the local authority. This is supplemented by Fundraising Income.
- This year has seen a net expenditure of £26,239 (2023: net income of £4,446).
- Total income in the year was £275,341 (2023: £246,209), up by £29,132 on the previous year. The primary driver for the increase in income was having more children using the unit in busy bees.
- Total expenditure for the period was £301,580 (2023: £241,763), an increase on the previous year of £59,817. The principal driver was an increase in salary costs. The main reason for this is higher staffing levels to support the higher numbers of children using the unit. However, in addition our hourly rates have increased in line with increases to the national living wage.
- We have continued to progress our goal of investing to improve the unit for our children. Over and above the day-to-day costs of running the Pre-School and Busy Bees (which include staff costs, training, materials, food, occupancy of the building, insurances and administration costs), we have invested £41,143 in the unit over the course of the year. Notable investments include:
- £27,900 on our new garden office
- £7,800 on new fencing for the Unit
- £2,800 on new laptops for staff
- Note: under the new accounting policy, these investments are classed as “tangible fixed assets” on our balance sheet, with an allowance for the depreciation of these assets included in the total expenditure.
- We are proud to have continued supporting families in difficulty through providing free regular or emergency childcare in the Unit. Under this policy we have provided nearly 1,300 free pre-school and busy bees hours to a value of over £5,000.
- Rent is paid quarterly to Blue Coat Primary School for the use of the Pre-School and Busy Bees facilities. There is no formal agreement in place with the school, but we have a good informal relationship with the school and rent payable to the school is agreed annually. There was an 11% increase to this occupancy cost this year, driven by increases to costs faced by the school.
## **Reserves Policy**
- In line with guidance from the Charity Commission and our independent examiner, in have a reserves policy, which we review annually. It's important we hold reserves so we can keep
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going during period of lower income or temporary closure (due to a global pandemic, for example!), carry out necessary repairs to or replacement of equipment and the buildings, and meet redundancy costs.
- Under our reserves policy the Unit aims to hold reserves consisting of:
- Reserves to meet possible redundancy liabilities
- General contingency reserves equal to three months total expenditure
- A full review of reserves is carried out annually. Based on the most recent review, our target reserves are **£111,791** (2023: £85,771.84 / 2022: £58,544). Under our current reserves policy, we aim to meet this target using only our cash balance. As of 31 March 2024, our cash balance was **£166,745** , (2023: £227,153) therefore our extra cash assets on top of this target reserve were **£54,954** (2023: £141,381). As planned, we have successfully reduced our excess reserves through investments, to the benefit of the children using the Unit, their families and our staff.
## **Fundraising**
- **£2,947** was raised through fundraising during the period via several events and sources including our ever-popular jam jar tombola at the Christmas Under-The-Edge street event, commission we earn when families buy pre-school photos and Christmas cards, and at the Wotton institution that is Town Hall Teas. Thank you to all our staff and families for supporting these events and sales by baking cakes, helping serve teas and of course buying what we’ve been selling!
- Our fundraising allows us to subsidise our annual pre-school trip – this year a fun-filled day in cattle country.
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Blue Coat Pre-school Unit & Busy Bees
Independent Examiners Report
Independent Examiner's Report to the trustee of Blue Coat Pre-school Unit & Busy Bees
I report to the trustees on my examination of the financial statements of Blue Coat Pre-school Unit & Busy
Bees for the year ended 31 March 2024.
Responslbllltles and basls of report
As the charity's trustee you are responsible for the preparation of the financial statements in accordance
with the requirements of the Charities Act 2011 {'the Act'l.
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(5llbl of the Act.
Independent examlner's statement
As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in
section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination by being a qualified
member of ACMA.
I have completed my examination. I can 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:
the 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 financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other
than any requirement that the financial statements 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 financial
statements to be reached.
Jo Roberts
signed on 0311012024, 13.'54.'22 BST
Jo Roberts ACMA
Willow Accountancy
Willow Accountancy Ltd
Willow Cottage, Valley Road
Wotton Under Edge
Glos
GL12 7NP
03 October 2024
Page 8
Blue Coat Pre-school Unit & Busy Bees
Statement of Financial Activities
for the year ended 31 March 2024
Unrestricted
funds
Restricted
funds Total funds Total funds
2024
2024
2024
2023
Notes
Income and endowments
from:
Charitable activities
Investments
269,143
291
2,838
271,981
291
242,684
69
Other
3,069
3,069
3,456
Total
272,503
2,838
275,341
246,209
Expendlture on:
Raising funds
Charitable activities
Other
2,459
12,108
284,175
2,459
13,826
285,295
1,610
9,394
230,759
1,718
1,120
Total
298,742
2,838
301,580
241,763
Net gains on investments
Net (expendlture)Ilncome
Transfers between funds
126,2391
126,239)
4,446
Net (expendlture)/lncome
before other galns/(losses}
126,2391
126,239}
4,446
Other galns and losses
Net movement In funds
126,2391
126,239}
4,446
Reconclllatlon of funds:
Total funds brought forward
234,692
234,692
230,246
Total funds carrled forward
208,453
208,453
234,692
Page 9
Blue Coat Pre-school Unit & Busy Bees
Balance Sheet
at 31 March 2024
Charity No. 1092513
2024
2023
Flxed assets
Tangible assets
10
37,084
37,084
2,377
2,377
Current assets
Stocks
Debtors
Cash at bank and in hand
11
12
300
8,011
166,745
175,056
{3,6871
171,369
7,384
227,153
234,537
12,222)
232,315
Credltors: Amount falling due within one year
Net current assets
13
Total assets less current Ilabllltles
208,453
234,692
Net assets excludln8 penslon asset or Ilabllltv
208,453
234,692
Total net assets
208,453
234,692
The funds of the charlty
Restrlcted funds
Unrestrlcted funds
General funds
14
14
208,453
234,692
208,453
234,692
Reserves
14
Total funds
208,453
234,692
Approved by the trustees on 16 October 2024
And signed on their behalf bv:
M. Gilling
Trustee
16 October 2024
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Blue Coat Pre-school Unit & Busy Bees
Notes to the Accounts
for the year ended 31 March 2024
l Accounting policies
Basls of preparatlon
The financial statements have been prepared in accordance with Statement of Recommended Practice..
Accounting and Reporting by Charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic if Ireland IFRS 1021 issued on 16 July 2014 and the
Financial Reporting Standard applicable in the United Kingdom and Republic of I reland {FRS 1021 and the
Charities Act 2011.
Change In basls of accountlng or to prevlous accounts
The threshold for receipts and payments accounting was exceeded in the current accounting period.
There has therefore been a change to the accounting policy.
These accounts are prepared on an accruals basis and the accounts for the prior year 2022/23 have been
restated on an accruals basis having previously been reported on a receipts and payments basis.
Fund accountln8
U nrestricted funds These are available for use at the discretion of the trustees in furtherance of the
general objects of the charity.
These are unrestricted funds earmarked by the trustees for particular purposes.
These are unrestricted funds which include a revaluation reserve representing the
restatement of investment assets at their market values.
These are available for use subject to restrictions imposed by the donor or through
terms of an appeal.
Designated funds
Revaluation f unds
Restricted f unds
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Blue Coat Pre-school Unit & Busy Bees
Notes to the Accounts
Income
Recognition of
income
Income is included in the Statement of Financial Activities {SoFAI when the charity
becomes entitled to, and virtually certain to receive, the income and the amount of
the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is
expenditure
reported gross in the SOFA.
Donations and
legacies
Voluntary income received by way of grants, donations and gifts is included in the
the SOFA when receivable and only when the Charity has unconditional entitlement
to the income.
Tax reclaims on
Income from tax reclaims is included in the SOFA at the same time as the
donations and gifts gift/donation to which it relates.
Donated services
These are only included in income (with an equivalent amount in expenditure)
and facilities
where the benefit to the Charity is reasonably quantifiable, measurable and
material.
Volunteer help
The value of any volunteer help received is not included in the accounts.
Investment income This is included in the accounts when receivable.
Gains/llosses1 on
This includes any gain or loss resulting from revaluing investments to market value
revaluation of fixed at the end of the year.
assets
Gains/llossesl on
investment assets
This includes any gain or Ioss on the sale of investments.
Expendlture
Recognition of
expenditure
Expenditure is recognised on an accruals basis. Expenditure includes any VAT which
cannot be fully recovered, and is reported as part of the expenditure to which it
relates.
Expenditure on
These comprise the costs associated with attracting voluntary income, fundraising
raising funds
trading costs and investment management costs.
Expenditure on
These comprise the costs incurred by the Charity in the delivery of its activitie5 and
charitable activities services in the furtherance of its objects, including the making of grants and
governance costs.
Al I grant expenditure is accounted for on an actual paid basis plus an accrual for
grants that have been approved by the trustees at the end of the year but not yet
paid,
These include those costs associated with meeting the constitutional and statutory
requirements of the Charity, including any audit/independent examination fee5,
costs linked to the strategic management of the Charity, together with a share of
other administration costs.
These are support costs not allocated to a particular activity.
Grants payable
Governance costs
Other expenditure
Taxatlon
The charity is exempt from tax on its charitable activities.
Page 12
Blue Coat Pre-school Unit & Busy Bees
Notes to the Accounts
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated
useful life:
Fixtures, Fittings &
Equipment
25% Straight line
Stock
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at
fair value which is the amount the charity would have been willing to pay for the items on the open
market,
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equlvalentS
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other
short-term highly liquid investments with original maturities of three months or less and bank overdrafts,
I n the statement of f inancial position, bank overdrafts are shown withi n borrowings or current lia bilities.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are
repayable on demand and form an integral part of the company's cash management.
Trade and other credltors
Short term creditors are measured at the transaction price. Other creditors and provisions are
recognised where the charity has a present obligation resulting from a past event that will probably
result in the transfer of funds to a third party and the amount due to settle the obligation can be
measured or estimated reliably. Creditors and provisions are normally recognised at their settlement
amount after allowing for any trade discounts due.
Penslon costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is
pension plan under which the charity pays fixed contributions into a separate entity, Once the
contributions have been paid the charity has no further payments obligations. The contributions are
recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet.
The assets of the plan are held separately from the charity in independently administered funds.
2 Income from charltable actlvltles
Unrestrlcted
Restrlcted
Total
Total
2024
2023
Fees- Pre School
48,184
48,184
46,575
Fees- Busy Bees
Nursery Grants
Other Grants
96,958
122,671
1,330
269,143
96,958
122,671
4,168
271,981
71,280
115,578
9,251
242,684
2,838
2,838
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Blue Coat Pre-school Unit & Busy Bees
Notes to the Accounts
3 Income from investments
Unrestricted
Total
Total
2024
2023
Bank I nterest
291
291
69
291
291
69
4 Other Income
Unrestrlcted
Total
Total
2024
2023
Misc Income
122
122
1,244
2,212
3,456
Fundraising Income
2,947
3,069
2,947
3,069
5 Expendlture on ralslng funds
Unrestrlcted
Total
Total
2024
2023
Fundraising payments
2,459
2,459
2,459
2,459
1,610
1,610
6 Expendlture on charltable actlvltles
Unrestrlcted
Restrlcted
Total
Total
2024
2023
Expenditure on charitable
activities
Materials and Equipment
Busy Bees Snacks
Grant Expenditure
Governance costs
4,788
4,331
4,788
4,331
1,718
4,164
2,969
880
1,718
Staff salaries
1,000
1,039
950
1,000
1,039
950
1,000
381
Licenses & memberships
Independent review
12,108
1,718
13,826
9,394
Page 14
Blue Coat Pre-school Unit & Busy Bees
Notes to the Accounts
7 Other expenditure
Unrestricted
Restricted
Total
Total
2024
2023
Employee costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
254,737
6,880
1,120
255,857
6,880
201,591
5,025
6,436
6,436
388
14,532
1,590
284,175
14,532
1,590
285,295
22,915
840
Legal and professional costs
1,120
230,759
8 Net (expendlture)/lncome before transfers
2024
2023
This is stated after charging:
Depreciation of owned fixed assets
6,436
388
9 Staff costs
2024
249,143
4,025
253,168
2023
193,071
6,546
199,617
Salaries and wages
Pension costs
No employee received emoluments in excess of £60,000.
10 Tan8lble flxed assets
Flxtures,
Flttlngs &
Equlpment
Total
Cost or revaluatlon
At l April 2023
Additions
At 31 March 2024
Depreclatlon and
Impalrment
At l April 2023
Depreciation charge for the
year
At 31 March 2024
2,765
41,143
43,908
2,765
41,143
43,908
388
388
6,436
6,436
6,824
6,824
Net book values
At 31 March 2024
At 31 March 2023
37,084
2,377
37,084
2,377
Page 15
Blue Coat Pre-school Unit & Busy Bees
Notes to the Accounts
11 Stocks
2024
2023
Raw materials and consumables
300
300
Carryln8 value analysed by actlvltles
2024
2023
Preschool
300
300
12 Debtors
2024
2023
Trade debtors
Prepayments and accrued income
186
7,825
8,011
7,384
7,384
13 Credltors:
amounts falling due within one year
2024
2023
Other taxes and social security
Accruals
2,587
I,ioo
3,687
2,173
49
2,222
Page 16
Blue Coat Pre-school Unit & Busy Bees
Notes to the Accounts
14 Movement In funds
Incomlng
resources
At31
March
2024
(Includlng
At l Aprll
other
2023 galns/losses)
Resources
expended
Restrlrted funds:
Restrlcted Income funds:
Disability Access Fund
Inclusion Fund
1,718
1,120
11,7181
11,1201
Total
2,838
12,8381
Unrestrlcted funds:
General funds
234,692
272,503
1298,7421
208,453
Total funds
234,692
275,341
1301,5801
208,453
Purposes and restrictions in relation to the f unds:
Restricted f unds:
Disability Access Fund
To purchase items beneficial to children who are entitled to receive
Disability Living Allowance
To support a specific child requiring I:1 support
Inclusion Fund
15 Analysls of net assets between funds
Unrestrlcte
d funds
Total
Fixed assets
37,084
171,369
208,453
37,084
171,369
208,453
Net current assets
16 Reconclllatlon of net debt
At31
At l Aprll
2023
March
Cash flows
2024
Cash and cash equivalents
227,153
227,153
160,4081
(60,4081
166,745
166,745
Net debt
227,153
160,4081
166,745
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**Signatures' technical details**
## **Signatures**
## **jo@willowaccountancy.co.uk**
03/10/2024, 13:54:22 BST
## **Fingerprint**
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## **Event log**
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Blue Coat Pre-school Unit & Busy Bees
Independent Examiners Report
Independent Examiner's Report to the trustee of Blue Coat Pre-school Unit & Busy Bees
I report to the trustees on my examination of the financial statements of Blue Coat Pre-school Unit & Busy
Bees for the year ended 31 March 2024.
Responslbllltles and basls of report
As the charity's trustee you are responsible for the preparation of the financial statements in accordance
with the requirements of the Charities Act 2011 {'the Act'l.
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(5llbl of the Act.
Independent examlner's statement
As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in
section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination by being a qualified
member of ACMA.
I have completed my examination. I can 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:
the 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 financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other
than any requirement that the financial statements 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 financial
statements to be reached.
Jo Roberts
signed on 0311012024, 13.'54.'22 BST
Jo Roberts ACMA
Willow Accountancy
Willow Accountancy Ltd
Willow Cottage, Valley Road
Wotton Under Edge
Glos
GL12 7NP
03 October 2024
Page 8
Blue Coat Pre-school Unit & Busy Bees
Statement of Financial Activities
for the year ended 31 March 2024
Unrestricted
funds
Restricted
funds Total funds Total funds
2024
2024
2024
2023
Notes
Income and endowments
from:
Charitable activities
Investments
269,143
291
2,838
271,981
291
242,684
69
Other
3,069
3,069
3,456
Total
272,503
2,838
275,341
246,209
Expendlture on:
Raising funds
Charitable activities
Other
2,459
12,108
284,175
2,459
13,826
285,295
1,610
9,394
230,759
1,718
1,120
Total
298,742
2,838
301,580
241,763
Net gains on investments
Net (expendlture)Ilncome
Transfers between funds
126,2391
126,239)
4,446
Net (expendlture)/lncome
before other galns/(losses}
126,2391
126,239}
4,446
Other galns and losses
Net movement In funds
126,2391
126,239}
4,446
Reconclllatlon of funds:
Total funds brought forward
234,692
234,692
230,246
Total funds carrled forward
208,453
208,453
234,692
Page 9
Blue Coat Pre-school Unit & Busy Bees
Balance Sheet
at 31 March 2024
Charity No. 1092513
2024
2023
Flxed assets
Tangible assets
10
37,084
37,084
2,377
2,377
Current assets
Stocks
Debtors
Cash at bank and in hand
11
12
300
8,011
166,745
175,056
{3,6871
171,369
7,384
227,153
234,537
12,222)
232,315
Credltors: Amount falling due within one year
Net current assets
13
Total assets less current Ilabllltles
208,453
234,692
Net assets excludln8 penslon asset or Ilabllltv
208,453
234,692
Total net assets
208,453
234,692
The funds of the charlty
Restrlcted funds
Unrestrlcted funds
General funds
14
14
208,453
234,692
208,453
234,692
Reserves
14
Total funds
208,453
234,692
Approved by the trustees on 16 October 2024
And signed on their behalf bv:
M. Gilling
Trustee
16 October 2024
Page 10
Blue Coat Pre-school Unit & Busy Bees
Notes to the Accounts
for the year ended 31 March 2024
l Accounting policies
Basls of preparatlon
The financial statements have been prepared in accordance with Statement of Recommended Practice..
Accounting and Reporting by Charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic if Ireland IFRS 1021 issued on 16 July 2014 and the
Financial Reporting Standard applicable in the United Kingdom and Republic of I reland {FRS 1021 and the
Charities Act 2011.
Change In basls of accountlng or to prevlous accounts
The threshold for receipts and payments accounting was exceeded in the current accounting period.
There has therefore been a change to the accounting policy.
These accounts are prepared on an accruals basis and the accounts for the prior year 2022/23 have been
restated on an accruals basis having previously been reported on a receipts and payments basis.
Fund accountln8
U nrestricted funds These are available for use at the discretion of the trustees in furtherance of the
general objects of the charity.
These are unrestricted funds earmarked by the trustees for particular purposes.
These are unrestricted funds which include a revaluation reserve representing the
restatement of investment assets at their market values.
These are available for use subject to restrictions imposed by the donor or through
terms of an appeal.
Designated funds
Revaluation f unds
Restricted f unds
Page 11
Blue Coat Pre-school Unit & Busy Bees
Notes to the Accounts
Income
Recognition of
income
Income is included in the Statement of Financial Activities {SoFAI when the charity
becomes entitled to, and virtually certain to receive, the income and the amount of
the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is
expenditure
reported gross in the SOFA.
Donations and
legacies
Voluntary income received by way of grants, donations and gifts is included in the
the SOFA when receivable and only when the Charity has unconditional entitlement
to the income.
Tax reclaims on
Income from tax reclaims is included in the SOFA at the same time as the
donations and gifts gift/donation to which it relates.
Donated services
These are only included in income (with an equivalent amount in expenditure)
and facilities
where the benefit to the Charity is reasonably quantifiable, measurable and
material.
Volunteer help
The value of any volunteer help received is not included in the accounts.
Investment income This is included in the accounts when receivable.
Gains/llosses1 on
This includes any gain or loss resulting from revaluing investments to market value
revaluation of fixed at the end of the year.
assets
Gains/llossesl on
investment assets
This includes any gain or Ioss on the sale of investments.
Expendlture
Recognition of
expenditure
Expenditure is recognised on an accruals basis. Expenditure includes any VAT which
cannot be fully recovered, and is reported as part of the expenditure to which it
relates.
Expenditure on
These comprise the costs associated with attracting voluntary income, fundraising
raising funds
trading costs and investment management costs.
Expenditure on
These comprise the costs incurred by the Charity in the delivery of its activitie5 and
charitable activities services in the furtherance of its objects, including the making of grants and
governance costs.
Al I grant expenditure is accounted for on an actual paid basis plus an accrual for
grants that have been approved by the trustees at the end of the year but not yet
paid,
These include those costs associated with meeting the constitutional and statutory
requirements of the Charity, including any audit/independent examination fee5,
costs linked to the strategic management of the Charity, together with a share of
other administration costs.
These are support costs not allocated to a particular activity.
Grants payable
Governance costs
Other expenditure
Taxatlon
The charity is exempt from tax on its charitable activities.
Page 12
Blue Coat Pre-school Unit & Busy Bees
Notes to the Accounts
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated
useful life:
Fixtures, Fittings &
Equipment
25% Straight line
Stock
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at
fair value which is the amount the charity would have been willing to pay for the items on the open
market,
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equlvalentS
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other
short-term highly liquid investments with original maturities of three months or less and bank overdrafts,
I n the statement of f inancial position, bank overdrafts are shown withi n borrowings or current lia bilities.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are
repayable on demand and form an integral part of the company's cash management.
Trade and other credltors
Short term creditors are measured at the transaction price. Other creditors and provisions are
recognised where the charity has a present obligation resulting from a past event that will probably
result in the transfer of funds to a third party and the amount due to settle the obligation can be
measured or estimated reliably. Creditors and provisions are normally recognised at their settlement
amount after allowing for any trade discounts due.
Penslon costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is
pension plan under which the charity pays fixed contributions into a separate entity, Once the
contributions have been paid the charity has no further payments obligations. The contributions are
recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet.
The assets of the plan are held separately from the charity in independently administered funds.
2 Income from charltable actlvltles
Unrestrlcted
Restrlcted
Total
Total
2024
2023
Fees- Pre School
48,184
48,184
46,575
Fees- Busy Bees
Nursery Grants
Other Grants
96,958
122,671
1,330
269,143
96,958
122,671
4,168
271,981
71,280
115,578
9,251
242,684
2,838
2,838
Page 13
Blue Coat Pre-school Unit & Busy Bees
Notes to the Accounts
3 Income from investments
Unrestricted
Total
Total
2024
2023
Bank I nterest
291
291
69
291
291
69
4 Other Income
Unrestrlcted
Total
Total
2024
2023
Misc Income
122
122
1,244
2,212
3,456
Fundraising Income
2,947
3,069
2,947
3,069
5 Expendlture on ralslng funds
Unrestrlcted
Total
Total
2024
2023
Fundraising payments
2,459
2,459
2,459
2,459
1,610
1,610
6 Expendlture on charltable actlvltles
Unrestrlcted
Restrlcted
Total
Total
2024
2023
Expenditure on charitable
activities
Materials and Equipment
Busy Bees Snacks
Grant Expenditure
Governance costs
4,788
4,331
4,788
4,331
1,718
4,164
2,969
880
1,718
Staff salaries
1,000
1,039
950
1,000
1,039
950
1,000
381
Licenses & memberships
Independent review
12,108
1,718
13,826
9,394
Page 14
Blue Coat Pre-school Unit & Busy Bees
Notes to the Accounts
7 Other expenditure
Unrestricted
Restricted
Total
Total
2024
2023
Employee costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
254,737
6,880
1,120
255,857
6,880
201,591
5,025
6,436
6,436
388
14,532
1,590
284,175
14,532
1,590
285,295
22,915
840
Legal and professional costs
1,120
230,759
8 Net (expendlture)/lncome before transfers
2024
2023
This is stated after charging:
Depreciation of owned fixed assets
6,436
388
9 Staff costs
2024
249,143
4,025
253,168
2023
193,071
6,546
199,617
Salaries and wages
Pension costs
No employee received emoluments in excess of £60,000.
10 Tan8lble flxed assets
Flxtures,
Flttlngs &
Equlpment
Total
Cost or revaluatlon
At l April 2023
Additions
At 31 March 2024
Depreclatlon and
Impalrment
At l April 2023
Depreciation charge for the
year
At 31 March 2024
2,765
41,143
43,908
2,765
41,143
43,908
388
388
6,436
6,436
6,824
6,824
Net book values
At 31 March 2024
At 31 March 2023
37,084
2,377
37,084
2,377
Page 15
Blue Coat Pre-school Unit & Busy Bees
Notes to the Accounts
11 Stocks
2024
2023
Raw materials and consumables
300
300
Carryln8 value analysed by actlvltles
2024
2023
Preschool
300
300
12 Debtors
2024
2023
Trade debtors
Prepayments and accrued income
186
7,825
8,011
7,384
7,384
13 Credltors:
amounts falling due within one year
2024
2023
Other taxes and social security
Accruals
2,587
I,ioo
3,687
2,173
49
2,222
Page 16
Blue Coat Pre-school Unit & Busy Bees
Notes to the Accounts
14 Movement In funds
Incomlng
resources
At31
March
2024
(Includlng
At l Aprll
other
2023 galns/losses)
Resources
expended
Restrlrted funds:
Restrlcted Income funds:
Disability Access Fund
Inclusion Fund
1,718
1,120
11,7181
11,1201
Total
2,838
12,8381
Unrestrlcted funds:
General funds
234,692
272,503
1298,7421
208,453
Total funds
234,692
275,341
1301,5801
208,453
Purposes and restrictions in relation to the f unds:
Restricted f unds:
Disability Access Fund
To purchase items beneficial to children who are entitled to receive
Disability Living Allowance
To support a specific child requiring I:1 support
Inclusion Fund
15 Analysls of net assets between funds
Unrestrlcte
d funds
Total
Fixed assets
37,084
171,369
208,453
37,084
171,369
208,453
Net current assets
16 Reconclllatlon of net debt
At31
At l Aprll
2023
March
Cash flows
2024
Cash and cash equivalents
227,153
227,153
160,4081
(60,4081
166,745
166,745
Net debt
227,153
160,4081
166,745
Page 17
**Signatures' technical details**
## **Signatures**
## **jo@willowaccountancy.co.uk**
03/10/2024, 13:54:22 BST
## **Fingerprint**
b9be623bb9b7e6147b7b7211ae75a4791bf047a4
## **Event log**
10.50.10.229 03/10/2024, 13:54:04 BST Signing request created. System 03/10/2024, 13:54:07 BST Notification sent to jo@willowaccountancy.co.uk. System 03/10/2024, 13:54:13 BST Signing page opened by signee jo@willowaccountancy.co.uk. System 03/10/2024, 13:54:22 BST Signee jo@willowaccountancy.co.uk signed document. System 03/10/2024, 13:54:22 BST Signing process completed.
## **Summary**
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