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2022-07-31-accounts

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REGISTERED COMPANY NUMBER: 04690236 (England and Wales) REGISTERED CHARITY NUMBER: 1100011

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REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 FOR

THANET EARLY YEARS PROJECT

Spurling Cannon Audit Limited 424 Margate Road Westwood | Ramsgate Kent CT12 6SJ

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THANET EARLY YEARS PROJECT

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CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

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THANET EARLY YEARS PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2022. The trustees have adopted the provisions of 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

Objectives and aims

Thanet Early Years Project (TEYP) is a voluntary organisation that provides services for children under the age of 5 years and their families, in order to promote family welfare in a non-judgmental and holistic way. The Principal objective is to provide good quality care and education to children under 5 years in the Isle of Thanet area. In addition, TEYP recognises and values the diversity of the communities with whom they work and endeavor to provide services, which are inclusive and free from discrimination.

Aims:

Objectives:

Values:

The Project Manager has been in post since June 2016.

Training and Development

All staff have an individual training plan in place to ensure their specific individual training needs are identified, developed and monitored via their supervision meetings. This may include working towards appropriate childcare qualifications, foundation degree and/or specific key areas that they may need to develop in order to fill any gaps in their skills,

All staff undertake mandatory training such as Paediatric First Aid as a part of our in person training. 12 staff attended Paediatric First Aid training in August 2021. Food Hygiene Awareness, Basic Safeguarding Awareness and Designated Safeguarding Training (DSL for senior managers) was delivered online through the NoodlesNow training portal that the project has been subscribing to since 2019.

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THANET EARLY YEARS PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

Knowledge and Experience.

Thanet Early Years Project prides itself on having a well-qualified and experienced workforce, this includes employing eight graduates of whom four have achieved Early Years Professionals status and two are Early Years Teachers. In addition, the Project Manager and the Quality Assurance and Training Manager both have a PTTLS (Preparing to Teach in the Lifelong Sector) training qualification. This qualification is used to write and deliver in-house training.

TEYP's in-house training continues to take place through the NoodlesNow Online platform as well as through face-toface training delivered by the Quality Assurance and Training Manager (QAT). Outside, in-person training and qualifications are taken through other training providers such as the Kent Safeguarding Children's Board (KSCB) or The Education People (TEP).

NoodlesNow is available for staff to access online. These courses enable staff to continue learning new skills in their own time. They are able to further develop and refresh their current skill set, discover new innovative ways of integrating and apply these skills when back at their place of work.

Training has continued to cover all relevant legislation to ensure staff understand how to apply this legislation in terms of TEYP policies and procedures. Policies and Procedures are reviewed regularly by the Project Manager, QAT and the Office Manager before being approved and signed off by trustees on a regular basis or as required. The Project Manager signs the policies on behalf of the Chair of the Board.

A new induction programme encompassing Human Resources policies was introduced in July 2022 for all new staff joining the project. New staff also receive a setting induction by their line manager during the first week of employment covering housekeeping and setting expectations, Early Years policies, etc.

Staff receive opportunities to attend external training such as SENCO and specific Early Years matters such as Communication and Language delay or Social and Emotional development, all of which will benefit the children we work with. These courses are either funded by the setting's budget, through the allocation of Early Years Pupil Premium or provided at a charge to the project by Kent County Council, Social Services and other local training providers such as Thanet Inclusion and Support Services (TISS),

Significant activities

In January 2022, the Financial Controller passed away unexpectedly after a long illness, This brought great sadness to the project staff, but especially the Head Office colleagues who worked very closely with her.

An independent Bookkeeper was hired to take care of the payroll.

The Project Manager kept spreadsheets of Income and Expenditure.

The Office Manager took care of the banking tasks.

reconciliationsA new FinancialupControllerto date, took wasoverappointedthe payroll, in Aprilset new2022.budg Th e ts FCand hadgeneratedto put allendfinancialof yeardata managementinto Sage, bringreports. bankThis was achieved by October 2022.

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THANET EARLY YEARS PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

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ACHIEVEMENT AND PERFORMANCE Our Achievements

Children and Families using TEYP services

Hand in Hand continues to attract the highest number of children with a special educational need and children with a safeguarding concern as the nursery is situated in an area of high socio-economic deprivation and tends to be recommended by outside agencies both social and educational. The manager works closely with the specialist teaching services and the nursery's individual practice is consistently regarded very highly amongst professionals. This year the nursery currently has many children requiring augmented support and this one-to-one cover was difficult to manage with the current number of staff. An unqualified member of staff was therefore recruited in order to give the nursery staff working with very young SEND children some extra support and respite. Due to the many challenges in the toddler room, there is a higher than normal turnover of staff, and this can at times have an impact on the morale of the established staff.

This financial year, the children requiring Augmented Support are much younger than usual and this could be a result of COVID-19 and the result of our ‘lockdown babies' now turning two years old and arriving at nursery with delayed social skills and speech and language due to many not being in the company of a peer group. Many children during this period were not seeing Health Visitors or CGP's in face-to-face consultations. In addition, the specialist services were not visiting settings to give extra support to staff to support children. In June, plans to re-open the baby room following its natural closure during the pandemic due to less babies attending, are being discussed for the next academic year.

The nursery had a gradual intake this September following the pandemic but was soon at full capacity by January where a waiting list was then generated. The children and staff enjoyed the purchase of two summer houses that had been funded by COMF (Contain Outbreak Management Fund). These were installed during the August holiday 2021.

Growing Together has been doing well at Ellington School and numbers gradually increased throughout the year. The Head Teacher at Ellington is keen for the nursery to remain at the school once the Newington Children's Centre re-opens in the next academic year. This was discussed at several TEYP board meetings to collect more information, A discussion between the Project Manager and the Lead Surveyor at KCC also took place and it was established that the present lease at Ellington School could be extended. A decision has been made to remain at the school until the current lease finishes in August 2023, then further discussion will be held to renew the lease for the future. The nursery manager has worked hard to develop and maintain a strong working relationship with the school who are very supportive of the nursery.

| Explorers Nursery | The manager resigned in the summer holiday and the Quality Assurance and Training Manager stepped in to manage the new intake of children and to support the staff. She remained in this role until a suitable manager was recruited and she joined the project in April. In March an existing member of staff stepped up as Senior Practitioner after the setting senior was transferred to Hand in Hand Nursery following the resignation of the senior practitioner there.

Two new summer houses purchased through COMF funding were installed in November. The children are enjoying them immensely.

Overall

During the past 12 months, TEYP has provided 202 children with childcare services within its registered early years nurseries. As a result, more than 192 families have benefited from accessing nursery places with TEYP across its three nursery settings. These numbers have increased in comparison to the last financial year, but the increase in the number of children taking the 30 hours funding means there could potentially be even more children on roll if they were taking the 15 hours funding.

Créches - After the Covid-19 pandemic which saw the creches being hit the hardest it has been a gradual process for the creches to return. The creche manager has worked hard to develop and maintain a strong working relationship with commissioners and as a result TEYP have taken on more independent creches and are no longer dependant on the Children's Centres,

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

TEYP continue to monitor the quality of the créche premises and that of the services being provided to ensure all services provided by TEYP are of good quality and meet the requirements of the commissioners, children's centres and the regulator Ofsted (Office for Standards in Education).

In addition, TEYP has provided 42 children from 38 families with childcare within our Créches located within Thanet, which enable families to participate in training and receive support from external agencies.

Contain Outbreak Management Fund

In March all settings received some additional funding from the Government which was used to support the settings to maintain high levels of cleanliness. This funding was spent on washing machines, carpet cleaners, vacuum cleaners, nursery resources, summer houses and other janitor supplies.

FINANCIAL REVIEW

Principal funding sources

The principal funding sources are:

  1. Kent County Council (Early Years Funding for Nursery Education, Free for Two funding for 2 year olds & 30 hours free childcare)

  2. Fees from parents

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THANET EARLY YEARS PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

FINANCIAL REVIEW

Investment policy and objectives Investment Scope The Trustees are not restricted legally or in any other way how they can invest funds.

Investment Objectives

To keep funds spread in different banks so we are fully covered the by compensation scheme - some of the funds are tied up in short term investments, some are instant access, so we can draw upon them for operation needs if so required, with low risk and a modest return. Part of the strategy is that we only make cash investments. Investments are for future sustainability and growth of the project and trustees strive to achieve the best return without risk to the project.

The company receive from Kent County Council, Early Years Pupil Premium (EYPP) funds for parents living in areas of deprivation and who are in receipt of benefits. These funds are restricted and kept liquid as they are used at short notice to maintain resources for the children in receipt.

Our nurseries also apply for SENIF and DAF funding for augmented support for children with developmental delay, autism or other difficulties or disabilities. These funds are to be used for supporting these children.

Charity's Attitude to risk

The Trustees are adverse to risk and the Project keeps its cash funds split between a number of financial institutions to ensure that all funds are covered by the Financial Services Compensation Deposit Guarantee Scheme.

Availability of Funds

There is approximately £569k of cash funds available, about £340k on short term investment and the rest with instant access.

Type of Investment, Benchmarking and Management of Current Investments

Investments are currently cash deposit accounts yielding relatively low rates of interest retum compared to historical rates, this was due to the Bank of England base interest rate being low, however interest rates have started to increase. Comparisons between different products are periodically undertaken and prior to fixed term investments coming to an | end the trustees review the alternatives available to find the best current deal that meets the investment policy criteria.

Decision making

The Trustees make decisions at monthly committee meetings by majority decision.

Investment Managers

The Project does not currently have professional independent Investment Managers; however, the Trustees intend to contact professional Investment Managers to explore the possibility of finding investments of similar low risk but with better returns,

Charity Assets

This capital was for contingencies should there be a need to dissolve the Project. The money was deposited from excess funds that had been received. This money now forms part of the balance of assets as shown on the statement of accounts for future sustainability.

Reserves policy

Annually the Trustees review the Project's reserves policy. The Trustees consider that for the continued viability of the Project, that reserves should exceed six months normal expenditure.

FUTURE DEVELOPMENTS Thanet Early Years Project are continuously reviewing the services they provide with a view to providing good quality services for children under the age of 5 years. TEYP continues to look for ways to extend their services, and in the next financial year will be opening a fourth early years settings within the Newington Children's Centre following refurbishments,

Growing Together will remain at Ellington School and the lease will be extended. In addition, TEYP will continue to use Facebook and the TEYP website to advertise their funded and fee-paying places within the three nurseries with the aim of increasing the number of families accessing TEYP services and the number of children attending nursery settings.

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Thanet Early Years Project is a recognised charity in the United Kingdom registration number 1100011 and is operated under the rules of its constitution (last amendment dated 24th November 2020). The management of the Thanet Early Years Project is the responsibility of the Trustees who are elected and co-opted under the terms of the Thanet Early Years Project.

This report is prepared in accordance with the small company regime (section 419(2) of the Companies Act 2006.

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THANET EARLY YEARS PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees

Trustees ensure that they, rather than TEYP staff, retain overall responsibility and control of trustee recruitment, selection and induction processes. When recruiting new members to the board, all existing trustees need to be clear about the charity's purpose and aim, They need to be clear about the duties and responsibilities of trustees, to ensure both that they are acting in the best interests of the charity, and that they can explain to new trustees what is required of them.

1. Skills Audit

Before recruiting new trustees, the board considers what skills, knowledge and experience it needs to ensure that TEYP is well governed and run effectively. We consider how many trustees we need for the board to run effectively and the attributes and competencies these trustees should have to add value to the board.

When preparing to recruit (and at suitable intervals) trustees assess the skills and experience needed by TEYP and the extent to which they are provided for by the existing trustees so as to identify whether there are particular characteristics which we should seek in new recruits.

A "skills audit" of the existing trustees is used to identify gaps in skills and knowledge as recommended by the Charity Commission.

2. General Eligibility

Whereby the following individuals are disqualified:

In addition

THEREFORE BEFORE CONSIDERING THE APPOINTMENT OF A NEW TRUSTEE THE FOLLOWING ACTIONS NEED TO BE TAKEN | ii)i) makecheckthe the potential Register ofrecruitdisqualified aware of persons those individuals who are disqualified

Article 38 of TEYP Articles of Association provides that:

Article 38(2-4) provides:

A trustee shall cease to hold office if he - 1) becomes incapable by reason of a mental disorder, illness or injury from managing and administrating his own affairs 2) resigns 3) is absent without permission of the trustees from all meetings held within a period of 6 months

The Chair is to explain the provisions of Article 38 prior to consideration of appointment.

3. Describing the Role

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THANET EARLY YEARS PROJECT

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Trustees need a balanced and realistic picture of what being a trustee entails. Potential Trustees are sent through the following pack of information before they meet with the Board for interview and discussion,

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THANET EARLY YEARS PROJECT

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational structure

Election of Chair

The trustees annually, in accordance with the governing constitution, elect the role of Chair of Trustees. The trustees unanimously voted Peter Davies as the Chair of Trustees. A new Chair of Trustees will be elected at the next AGM held in January 2023.

Organisation Structure

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Project Manager
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Office Manager Financial
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Quality Assurance Growing Explorers
and Training Toyether Nursery
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Nursery
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THANET EARLY YEARS PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Decision making

Decision making within the project

Decisions are made in line with the organisation structure with the Project Manager reporting to the Chair of the Board of Trustees. TEYP leadership team are consulted on changes to TEYP policies and procedures with final recommendations made by the Project Manager in consultation with the Chair of the Trustees. Once approved, they are signed off and endorsed by the Trustees. Any update made to a policy or procedure is discussed with supporting documentation. This is then issued to all staff to ensure current policies are being implemented.

The Trustees review all potential risks to the organisation as part of the Annual Audited Accounts.

Induction and training of new trustees

Induction of New Trustee

Following on from the interview of a new trustee, once both TEYP Board of trustees and a new trustee have mutually agreed and confirmed they are to join the board they are invited to attend the next monthly board meeting.

Prior to this meeting they will be asked by the Trustees Administrator to complete the following documentation:

- Conflict of interests' form

And by the TEYP Administrator to complete the documentation for:

- A full DBS check (Disclosure & Barring Scheme)

They will also be sent an Induction pack by the Trustees Administrator, which includes: -

A new trustee would be invited to visit the TEYP centres and settings with the Project manager in order to orientate themselves with the ethos of the project and to meet the staff. This would usually take place at a mutually convenient time within the first 3 months ofjoining the Board of Trustees.

Training for Trustees

The training of new trustees is driven by specific needs as there is no specific budget allocated to training trustees as they are members of the Board ona strictly voluntary basis. The Board would expect that any trustee will have an area of expertise that they bring with them i.e. Childcare, Law and Human Resources etc.

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Guidance about the role of being a trustee within a charity is given via the Charity Commission publication:

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CC3 - The Essential Trustee: what you need to know

This publication is distributed to all new trustees when they have joined the Board to provide them with information pertinent to working within a charity environment.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 04690236 (England and Wales)

Registered Charity number 1100011

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THANET EARLY YEARS PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

Registered office

Kent Innovation Centre Thanet Reach Business Park Millennium Way Broadstairs Kent CT10 2QQ

Trustees

P J Davies (Chair) Ms R J Land HC Kemp Mrs J E Bonner (Acting Chair) Ms K D Hammond (Project Manager) Ms M B Hutchinson P I McGuirk Ms B A Young

Secretary to the Trustees Maria Knight

Auditors

Spurling Cannon Audit Limited 424 Margate Road Westwood RamsgateKent CT12 6SJ

Bankers Lloyds TSB Bank Ple 3 Queen Street Ramsgate Kent CT11 9DZ

EVENTS SINCE THE END OF THE YEAR Information relating to events since the end of the year is given in the notes to the financial statements. | STATEMENT OF TRUSTEES' RESPONSIBILITIES The trustees (who are also the directors of Thanet Early Years Project for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

STATEMENT OF TRUSTEES' RESPONSIBILITIES- continued

In so far as the trustees are aware:

AUDITORS

The auditors, Spurling Cannon Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. Approved by order of the board of trustees on tht |if2e2a.... and signed on its behalf by:

Mrs J E Bonner - Trustee

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THANET EARLY YEARS PROJECT

Opinion

We have audited the financial statements of Thanet Early Years Project (the ‘charitable company’) for the year ended 31 July 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material | misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THANET EARLY YEARS PROJECT

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THANET EARLY YEARS PROJECT

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Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we have considered the following:

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THANET EARLY YEARS PROJECT

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan Spurling (Senior Statutory Auditor)

for and on behalf of Spurling Cannon Audit Limited 424 Margate Road Westwood Ramsgate Kent CT12 6SJ

Date: 24 li 2022.

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THANET EARLY YEARS PROJECT

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2022

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||||||||| |---|---|---|---|---|---|---|---| |2022|2021| |Unrestricted|Restricted|Total|Total| |funds|funds|funds|funds| |Notes|£|£|ea|£| |INCOME|AND|ENDOWMENTS|FROM| |Donations|and|legacies|2|-|213|213|705| |Charitable|activities|4| |The provision of|preschool educational services|580,400|27,083|607,483|$53,029| |Investment|income|3|2,845|()|2,844|4,214| |Total|583,245|27,295|610,540|557,948| |EXPENDITURE|ON| |Charitable|activities|5| |The provision of preschool|educational|services|596,258|16,526|612,784|536,741| |NET INCOME/(EXPENDITURE)|(13,013)|10,769|(2,244)|21,207| |RECONCILIATION|OF|FUNDS| |Total|funds|brought|forward|417,301|22,369|439,670|418,463| |—_—|So| |TOTAL FUNDS CARRIED FORWARD|404,288|33,138|437,426|439.670|

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The notes form part of these financial statements

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THANET EARLY YEARS PROJECT

BALANCE SHEET

31 JULY 2022

2022 2021
Unrestricted
funds		 Restricted
funds		 Total
funds		 Total
funds
Notes £ £ £ b
CURRENT ASSETS
Debtors 13 29,358 - 29,358 7,586
Cash atbank 536,280 33,137 569,417 556,347
565,638 33,137 598,775 563,933
CREDITORS
Amounts fallingdue withinoneyear 14 (161,349) - (161,349) (124,263)
— —s — —
NETCURRENTASSETS 404,289 33,137 437,426 439,670
TOTALASSETS LESS CURRENT
LIABILITIES 404,289 33,137 437,426 439,670
NETASSETS 404,289 33,137 437,426 439,670
FUNDS 16
Unrestricted funds 404,289 417,301
Restricted funds 33,137 22,369
TOTALFUNDS 437,426
ae		 439.670
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These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on sealIslaOR Doren and were signed on its behalf by:

J E Bonner - Trustee

The notes form part of these financial statements

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CASHFLOWSTATEMENT
FORTHEYEARENDED 31 JULY 2022
2022 2021
Notes £ &
Cash flows from operating activities
Cash generated from operations l 10,226 17,619
Netcash providedbyoperating activities 10,226 17,619
Cash flows from investing activities
Interest received 2,844 4.214
Netcash providedby investing activities 2,844 4,214
Change in cash and cash equivalents in
the reporting period 13,070 21,833
Cash and cash equivalents at the
beginning ofthe reporting period 556,347 534,514
Cash and cash equivalents at the end of
thereportingperiod 569,417 556,347

The notes form part of these financial statements

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NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2022

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2;

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|||||||||| |---|---|---|---|---|---|---|---|---| |2022|2021| |£|£| |Net|(expenditure)/income|for|the|reporting|period|(as|per|the| |Statement of Financial|Activities)|(2,244)|21,207| |Adjustments|for:| |Interest|received|(2,844)|(4,214)| |(Increase)/decrease|in|debtors|(21,772)|17,492| |Increase/(decrease)|in|creditors|37,086|(16,866)| |Net cash provided|by operations|10,226|17,619| |ANALYSIS|OF|CHANGES|IN NET FUNDS|

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||||||| |---|---|---|---|---|---| |At|1/8/21|Cash|flow|At|31/7/22| |£|£|£| |Net|cash| |Cash|at bank|556,347|13,070|569,417| |556,347|13,070|569,417| |Total|556,347|13,070|569,417|

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The notes form part of these financial statements

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  1. ACCOUNTING POLICIES

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THANET EARLY YEARS PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. 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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on cost Computer equipment equipment - 25% on cost

Computer equipment equipment

Taxation

The charity is exempt from corporation 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 charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

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THANET EARLY YEARS PROJECT

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NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 2022

2; DONATIONS AND LEGACIES

2022 2021
£ £
Donations 213 705
3. INVESTMENT INCOME
2022 2021
£ £
Deposit account interest 2,844 4,214
4, INCOMEFROMCHARITABLEACTIVITIES
2022 2021
Activity £ £
The provision ofpreschool educational
Grants services 511,025 474,684
Theprovision ofpreschool educational
Fees services 96,350 63,574
The provision ofpreschool educational
Sundryincome services 108 14,771
607,483 553,029
Grantsreceived, includedinthe theabove,areas follows:
2022
£		 2021
£
Othergrants 65,694 26,520
Funded 3&4 YearOldNursery Places 346,782 334,535
Funded 2 Year OldNurseryPlaces Places 97,880 97,221
CoronavirusJobRetentionSchemeGrant 669 16,408
$11,025 474,684
5. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
Theprovision ofpreschool educational Direct
Costs
£		 (see note
6)
£		 costs (see
note7)
£		 Totals
£
services 468,198 767 143,819 612,784

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THANET EARLY YEARS PROJECT

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NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 2022

6. GRANTS PAYABLE
2022 2021
£ £
The provision ofpreschool educational services 767 304
Te SUPPORTCOSTS
Governance
Management Finance costs Totals
£ £ £ £
The provision ofpreschool educational
services 133,252 —_187 —10,330 143,819
8. NET INCOME/(EXPENDITURE)
Netincome/(expenditure) is stated after charging/(crediting):
2022 2021
£ £
Auditors’ remuneration 7,950 6,300
Other non-audit services 2,430 -
Otheroperating leases 50,328 41,189
9. TRUSTEES' REMUNERATION AND BENEFITS
2022 2021
£ £
Trustees' salaries 44,398 40,421
Trustees’ social security 5,056 4,564
Trustees'pensions paid 2,217 2,094
51,671 47,079

The charity is required to have a Responsible Person. The Project Manager, Ms K D Hammond, has undertaken this role since 24 July 2018. Ms K D Hammond received remuneration in the year, as disclosed above, in accordance with Charity Law and the governing document of the charity, for her employed services as the Project Manager. Thereended were31 July no2021.other Trustees who received remuneration during the year ended 31 July 2022 nor for the year

Trustees’ expenses

There were no trustees' expenses paid for the year ended 31 July 2022 nor for the year ended 31 July 2021.

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THANET EARLY YEARS PROJECT

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NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 2022

10. STAFFCOSTS
2022 2021
£ £
Wages and salaries 458,300 416,777
Social security costs 24,463 15,927
Otherpension costs 11,251 __9,817
494,014 442,521
The average monthly numberof employees during the yearwas as follows:
2022 2021
Head Office and Settings Staff 35 37
No employees received emoluments in excess of£60,000,
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds		 Restricted
funds		 Total
funds
£ £ £
INCOMEAND ENDOWMENTS FROM
Donations and legacies - 705 705
Charitable activities
The provision ofpreschool educational
services 543,039 9,990 553,029
Investmentincome 4,215 () 4,214
Total 547,254 10,694 557,948
EXPENDITURE ON
Charitableactivities
The provision ofpreschool educational
services §28.216 8,525 536,741
NETINCOME 19,038 2,169 21,207
RECONCILIATION OF FUNDS
Total fundsbroughtforward 398,263 20,200 418,463
TOTALFUNDSCARRIEDFORWARD 417,301 22,369
‘SS		 439,670
oo

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THANET EARLY YEARS PROJECT

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NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 2022

12. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 August2021 and31 July2022 923 7,959 8,882
DEPRECIATION
At 1 August2021 and 31 July2022 923 7,959 8,882
NETBOOKVALUE
At 31 July2022 : - :
At31 July 2021 : “ *
13. DEBTORS: AMOUNTS FALLINGDUEWITHIN ONE YEAR
2022 2021
£ £
Trade debtors 1,217 833
Other debtors 417 401
Prepayments andaccruedincome 27,724 6,352
29,358 7,586
14. CREDITORS:AMOUNTSFALLINGDUEWITHINONEYEAR 2022
£		 2021
£
Tradecreditors
Accruedexpenses		 29,119
132,230		 1,137
123,126
161,349 124,263
15. LEASINGAGREEMENTS
Minimum leasepayments undernon-cancellable operating leases falldueas follows:
2022
£		 2021
£
Withinoneyear 8,000 -
Betweenoneandfiveyears - 8,000
8,000 8,000

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THANET EARLY YEARS PROJECT

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NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 2022

MOVEMENT IN FUNDS

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |Net| |movement|At| |At|1/8/21|in|funds|31/7/22| |£|£|£| |Unrestricted|funds| |General|fund|417,301|(13,012)|404,289| |Restricted|funds| |Ramsgate|Charities Fund|629|(555)|74| |Explorers|Early Years|Pupil Premium|6,940|2,967|9,907| |Hand|in Hand|Early Years|Pupil|Premium|11,903|4,316|16,219| |Growing|Together Early Years|Pupil| |Premium|2,897|3,340|6,237| |Hardship|Fund|-|700|700| |22,369|10,768|33,137| |TOTAL FUNDS|439,670|(2,244)|437,426| |Net movement|in|funds,|included|in|the|above|are|as|follows:| |Incoming|Resources|Movement| |resources|expended|in|funds| |£|£|£| |Unrestricted|funds| |General|fund|583,246|(596,258)|(13,012)| |Restricted|funds| |Ramsgate|Charities|Fund|212|(767)|(555)| |Hand|in Hand Early|Years|Pupil|Premium|4,940|(624)|4,316| |Explorers Early Years Pupil Premium|4,028|(1,061)|2,967| |Growing|Together|Early|Years|Pupil| |Premium|4,473|(1,133)|3,340| |Hardship|Fund|700|.|700| |Contain|Outbreak Management|Fund|12,941|(12,941)|-| |27,294|(16,526)|10,768| |TOTAL FUNDS|610,540|(612,784)|(2,244)|

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THANET EARLY YEARS PROJECT

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NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 2022

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Net| |movement|At| |At|1/8/20|in|funds|31/7/21| |£|£|£| |Unrestricted|funds| |General|fund|398,263|19,038|417,301| |Restricted|funds| |Ramsgate Charities|Fund|228|401|629| |Explorers|Early Years|Pupil Premium|7,077|(137)|6,940| |Hand|in Hand|Early Years|Pupil|Premium|10,656|1,247|11,903| |Growing|Together Early Years|Pupil| |Premium|2,239|658|2,897| |20,200|2,169|22,369| |TOTAL|FUNDS|418,463|21,207|439,670| |Comparative|net movement|in|funds,|included|in|the|above|are|as|follows:| |Incoming|Resources|Movement| |resources|expended|in|funds| |£|£|£| |Unrestricted|funds| |General|fund|547,254|(528,216)|19,038| |Restricted|funds| |Ramsgate|Charities|Fund|705|(304)|401| |Explorers|Early Years|Pupil|Premium|2,986|(3,123)|(137)| |Hand|in Hand|Early Years|Pupil|Premium|4,499|(3,252)|1,247| |Premium|2,504|(1,846)|658| |Growing Together Early Years Pupil| |10,694|(8,525)|2,169| |TOTAL FUNDS|557,948|(536,741)|21,207|

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THANET EARLY YEARS PROJECT

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NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 2022

16. MOVEMENT IN FUNDS- continued

A current year 12 months and prior year 12 months combined position is as follows:

----- Start of picture text -----
||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Net| |movement|At| |At|1/8/20|in|funds|31/7/22| |£|£|£| |Unrestricted|funds| |General|fund|398,263|6,026|404,289| |Restricted|funds| |Ramsgate|Charities Fund|228|(154)|74| |Explorers|Early|Years|Pupil Premium|7,077|2,830|9,907| |Hand|in Hand|Early|Years|Pupil|Premium|10,656|5,563|16,219| |Growing Together|Early|Years|Pupil| |Premium|2,239|3,998|6,237| |Hardship|Fund|-|700|700| |20,200|12,937|33,137| |TOTAL FUNDS|418,463|18,963|437,426| |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| |Restricted|funds| |General fund|1,130,500|(1,124,474)|6,026| |Ramsgate|Charities Fund|917|(1,071)|(154)| |Explorers Early Years Pupil|Premium|7,014|(4,184)|2,830| |Hand|in Hand Early Years|Pupil Premium|9,439|(3,876)|5,563| |Growing|Together|Early|Years|Pupil| |HardshipPremium|Fund|6,977700|(2,979)-|3,998700| |Contain Outbreak Management|Fund|12,941|(12,941)|é| |TOTAL FUNDS|1,168,4837,98|8|(1,149(25|,|051525|)|1|28|,9|3763|

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NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 2022

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2022.

18. POST BALANCE SHEET EVENTS

On 17 January 2023 Kent County Council announced a consultation, running until 26 March 2023, into the closing of a significant number of its buildings. Amongst the buildings listed for closure is Priory Children’s Centre from which Explorers Nursery operates. The trustees are reviewing the potential impact should the closure go ahead and assessing the options available.

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THANET EARLY YEARS PROJECT

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DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022

2022 2021
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 213 705
Investment income
Deposit account interest 2,844 4,214
Charitable activities
Grants 511,025 474,684
Fees 96,350 63,574
Sundry income 108 14,771
607,483 $53,029
Total incoming resources 610,540 557,948
EXPENDITURE
Charitable activities
Wages 372,690 328,250
Social security 13,938 8,426
Pensions 8,409 7,446
Rent 38,789 29,182
Insurance 4,740 4,750
Playgroup costs 8,648 2,821
EYPP Spend 4,964 8,221
Rates andwater 2,892 (722)
Light andheat (4,685) (2,027)
Telephone 660 652
Postage, stationery and advertising 999 574
Maintenance 12,506 3,844
Travellingexpenses
Professional fees
Clothing		 47
927
2,649		 485
4,235
-
Storage
Grants to individuals		 25
167		 .
304
468,965 396,441
Support costs
Management
Trustees’salaries
Trustees' social security
Trustees’pensions paid
Wages		 44,398
5,056
2,217
41,212		 40,421
4,564
2,094
48,106
Social security 5,469 2,937
Pensions
Carriedforward		 2,842
101,194		 2,371
100,493

This page does not form part of the statutory financial statements

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THANET EARLY YEARS PROJECT

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DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022

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||||||| |---|---|---|---|---|---| |2022|2021| |£|£| |Management| |Brought forward|101,194|100,493| |Rent|11,539|12,007| |Rates|and water|853|928| |Insurance|677|826| |Telephone|1,518|1,281| |Postage,|stationery|and|advertising|655|613| |Sundries|143|40| |Equipment|and maintenance|5,132|4,604| |Travelling|expenses|57|21| |Training|and recruitment|2,250|450| |Professional|fees|168|312| |Subscriptions|9,066|12,425| |133,252|134,000| |Finance| |Bank|charges|187|-| |Governance|costs| |Auditors'|remuneration|7,950|6,300| |Auditors' remuneration|for non|audit work|2,430|-| |10,380|6,300| |Total resources expended|612,784|536,741| |Net (expenditure)/income|(2,244)|21,207|

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This page does not form part of the statutory financial statements

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