Charity registration number 1095412 (England and Wales)
CYGNETS PRE-SCHOOL
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
CYGNETS PRE-SCHOOL
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Charity number
Independent examiner
Alexandra Reynolds- Chair Daniel Denaro- Treasurer Nicole Sheppard Jamie Awdry Lauren Russell Jonathan Swift
1095412
Katy Gooding Holloway House Epsom Square White Horse Business Park Trowbridge Wiltshire United Kingdom BA14 0XG
(Appointed 6 December 2024) (Appointed 6 December 2024)
CYGNETS PRE-SCHOOL
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 14 |
CYGNETS PRE-SCHOOL
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024
The trustees present their annual report and financial statements for the year ended 31 October 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011 and "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).
Objectives and activities
The aims of the charity are to enhance the development and education of children primarily under the statutory school age by encouraging parents to understand and provide the needs of children through community groups and by:
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offering appropriate play, education and care facilities, family learning and extended hours groups, together with the right of parents to take responsibility for and to become involved in the activities of such groups, ensuring that such groups offer opportunities for all children whatever their race, culture, religion, means of ability;
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encouraging the study of the needs of such children and their families and promoting public interest in and recognition of such needs in the local areas;
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instigating and adhering to and furthering the aims and objects of the Pre-school Learning Alliance.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
The main activities undertaken during the year include:-
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A major success of the year was being the recipients of a Tesco Stronger Starts Grant (Groundwork UK). This ensured we were able to complete the upgrading of the outdoor space at Bratton, making it accessible to the children and staff in all weathers.
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Going forward, we are working with staff to create a “wish list” for each setting, to establish where future grants might be best allocated. We propose applying to Westbury Town Council in 2025 for a grant to fund updates to the SEN provision at the Westbury setting.
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We are also looking into opportunities to access additional funding linked to housing developments in both Westbury and Bratton.
Financial review
Although the charity has incurred a loss in the year ended 31 October 2024 the trustees are aware and are monitoring the increasing costs to ensure the charity can continue to trade. The trustees and management are looking at applying for grants to cover future costs along with regular reviews of the staffing structure to ensure the needs of the children are met alongside the costings incurred.
The fees and charges for parents are reviewed annually alongside the existing expenditure levels to try to balance the increasing costs faced by the charity. The review encapsulates wanting to remain financially sustainable alongside the visions and ethos of the charity, to provide the best support for all the children and families.
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CYGNETS PRE-SCHOOL
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024
Structure, governance and management
The charity is an unincorporated charity and is a member of the the Pre-school Learning Alliance.
The trustees who served during the year and up to the date of signature of the financial statements were: Alexandra Reynolds- Chair
Daniel Denaro- Treasurer Kitty Cole- Secretary (Resigned 5 December 2024) Nicole Sheppard Jamie Awdry Jordan Daykin (Resigned 2 October 2024) Lauren Russell (Appointed 6 December 2024) Jonathan Swift (Appointed 6 December 2024)
The overall management and control of the charity rest with the individual members of the charities management committee.
The minimum number of committee members shall be 5 and the maximum shall be 12, together with up to a further 3 co-opted members. The committee shall consist of:
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a chair, a treasurer and a secretary
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not less than 2 nor more than 9 other elected members and
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if the Committee decides it can co-opt up to 3 further members on the committee at any time after the AGM.
Not less than 60% of the Committee members, including co-opted members, shall at the time of election or cooption be Family Members of the child attending any group run by the Pre-school.
The trustees' report was approved by the Board of Trustees.
Alexandra Reynolds Chair
13 August 2025
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CYGNETS PRE-SCHOOL
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CYGNETS PRE-SCHOOL
I report to the trustees on my examination of the financial statements of Cygnets Pre-School (the charity) for the year ended 31 October 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
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2 the financial statements do not accord with those records; or
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3 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.
Since 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 I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
Katy Gooding Holloway House Epsom Square White Horse Business Park Trowbridge Wiltshire BA14 0XG United Kingdom
Dated: 14 August 2025
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CYGNETS PRE-SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2024
| Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income from: Donations and legacies 3 - 1,125 Charitable activities 4 338,392 - Other trading activities 5 679 - Investments 6 208 - Total income 339,279 1,125 Expenditure on: Charitable activities 7 340,351 1,125 Total expenditure 340,351 1,125 Net expenditure and movement in funds (1,072) - Reconciliation of funds: Fund balances at 1 November 2023 20,397 - Fund balances at 31 October 2024 19,325 - |
Total Unrestricted funds 2024 2023 £ £ 1,125 7,093 338,392 317,878 679 930 208 121 340,404 326,022 341,476 331,189 341,476 331,189 (1,072) (5,167) 20,397 25,564 19,325 20,397 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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CYGNETS PRE-SCHOOL
BALANCE SHEET
AS AT 31 OCTOBER 2024
| Notes Fixed assets Tangible assets 13 Current assets Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets Total assets less current liabilities Income funds Unrestricted funds |
2024 £ - 21,972 21,972 (4,102) |
£ 1,455 17,870 19,325 19,325 19,325 |
2023 £ 513 19,250 19,763 (1,190) |
£ 1,824 18,573 |
|---|---|---|---|---|
| 20,397 | ||||
| 20,397 | ||||
| 20,397 |
The financial statements were approved by the Trustees on 13 August 2025
Alexandra Reynolds Chair
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CYGNETS PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
1 Accounting policies
Charity information
Cygnets Pre-School is an unincorporated charity.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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CYGNETS PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings 20% SL Computers 33% RB
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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CYGNETS PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted Restricted funds funds 2024 2024 £ £ Donations and gifts - - Grants - 1,125 - 1,125 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ - 1,067 - 1,125 6,026 - 1,125 7,093 - |
Total 2023 £ 1,067 6,026 |
|---|---|---|
| 7,093 |
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CYGNETS PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024
| 3 Income from donations and legacies Unrestricted Restricted funds funds 2024 2024 £ £ Grants Westbury Town Council - - Department for Education - - Selwood Housing - - Wiltshire Community Foundation - - Business growth - - Other - 1,125 - 1,125 |
Total Unrestricted Restricted Total funds funds 2024 2023 2023 2023 £ £ £ £ (Continued) - 1,500 - 1,500 - 1,500 - 1,500 - 1,000 - 1,000 - 1,726 - 1,726 - 300 - 300 1,125 - - - 1,125 6,026 - 6,026 |
Total Unrestricted Restricted Total funds funds 2024 2023 2023 2023 £ £ £ £ (Continued) - 1,500 - 1,500 - 1,500 - 1,500 - 1,000 - 1,000 - 1,726 - 1,726 - 300 - 300 1,125 - - - 1,125 6,026 - 6,026 |
|---|---|---|
| 6,026 |
4 Income from charitable activities
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Pre-school | |||
| Sale of goods | 20,893 | 47,842 | |
| Services provided under contract | 244,660 | 208,848 | |
| Ancillary trading income | 72,839 | 61,188 | |
| 338,392 | 317,878 | ||
| 5 | Income from other trading activities | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Fundraising events | 679 | 930 |
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CYGNETS PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
6 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Interest receivable | 208 | 121 |
7 Expenditure on charitable activities
| Pre-school | Pre-school | |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Direct costs | ||
| Staff costs | 277,315 | 262,852 |
| Consumables | 18,067 | 17,765 |
| 295,382 | 280,617 | |
| Share of support and governance costs (see note 8) | ||
| Support | 39,163 | 44,231 |
| Governance | 6,931 | 6,341 |
| 341,476 | 331,189 | |
| Analysis by fund | ||
| Unrestricted funds | 340,351 | 331,189 |
| Restricted funds | 1,125 | - |
| 341,476 | 331,189 |
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CYGNETS PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024
8 Support costs allocated to activities
| Depreciation Telephone Printing and stationery Admin Staff and training Repairs and maintenence Rent and Rates Cleaning Insurance Membership and subscriptions Advertising Governance costs Analysed between: Pre-school 9 Net movement in funds The net movement in funds is stated after charging/(crediting): Fees payable for the independent examination of the charity's financial statements Depreciation of owned tangible fixed assets |
2024 £ 708 3,136 458 3,662 3,334 1,909 16,795 3,533 3,002 2,350 272 6,935 46,094 46,094 2024 £ 1,584 708 |
2023 £ 640 3,105 73 4,624 6,258 6,029 14,691 3,828 2,214 2,367 402 6,341 |
|---|---|---|
| 50,572 | ||
| 50,572 | ||
| 2023 £ - 640 |
10 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
11 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 |
|---|---|
| Number | Number |
| 25 | 23 |
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CYGNETS PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024
| 11 Employees Employment costs Wages and salaries Social security costs Other pension costs |
(Continued) 2024 2023 £ £ 264,882 253,008 6,309 4,536 6,124 5,308 277,315 262,852 |
(Continued) 2024 2023 £ £ 264,882 253,008 6,309 4,536 6,124 5,308 277,315 262,852 |
|---|---|---|
| 262,852 |
The key management personnel of the charity comprise the trustees, and the manager. The total remuneration of key management personnel during the year was £21,649, (2022; £21,649)
There were no employees whose annual remuneration was more than £60,000.
12 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 13 Tangible fixed assets
| Fixtures and fittings Computers £ £ Cost At 1 November 2023 1,676 916 Additions 339 - At 31 October 2024 2,015 916 Depreciation and impairment At 1 November 2023 463 305 Depreciation charged in the year 403 305 At 31 October 2024 866 610 Carrying amount At 31 October 2024 1,149 306 At 31 October 2023 1,213 611 |
Total £ 2,592 339 |
|---|---|
| 2,931 | |
| 768 708 |
|
| 1,476 | |
| 1,455 | |
| 1,824 |
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CYGNETS PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024
| 14 Debtors Amounts falling due within one year: Other debtors 15 Creditors: amounts falling due within one year Other taxation and social security Trade creditors Accruals and deferred income 16 Retirement benefit schemes Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes |
2024 £ - 2024 £ 2,316 500 1,286 4,102 2024 £ 6,124 |
2023 £ 513 |
|---|---|---|
| 2023 £ 376 814 - |
||
| 1,190 | ||
| 2023 £ 5,308 |
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
17 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At 1 | Incoming | Resources | At 31 October | |
|---|---|---|---|---|
| November | resources | expended | 2024 | |
| 2023 | ||||
| £ | £ | £ | £ | |
| Tesco Stronger Starts | - | 1,125 | (1,125) | - |
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CYGNETS PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024
18 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 November 2023 Incoming resources Resources expended At 31 £ £ £ General funds 20,397 339,279 (340,351) Previous year: At 1 November 2022 Incoming resources Resources expended At 31 £ £ £ General funds 25,564 326,022 (331,189) |
October 2024 £ 19,325 October 2023 £ 20,397 |
|---|---|
19 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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