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2023-07-31-accounts

REGISTERED COMPANY NUMBER: 04690236 (England and Wales)

REGISTERED CHARITY NUMBER: 1100011

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

THANET EARLY YEARS PROJECT

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

THANET EARLY YEARS PROJECT

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

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THANET EARLY YEARS PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023

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 2023. 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:

Thanet Early Years Project promotes its services as:

As a registered Charity, TEYP aims to provide early years services at various locations in the Thanet area, that are affordable, accessible and of high quality. Childcare and education is provided in various locations throughout Thanet, aimed specifically for children under the age of five years. TEYP also promotes family welfare in a non-judgementat and holistic way, working in partnership with partner agencies and with parents/carers to support and empower them to improve their parenting skills, thus promoting positive outcomes for children.

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, apprenticeship schemes and/or specific key areas that they may need to develop 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 2022. Food Hygiene Awareness, Basic Safeguarding Awareness and Designated Safeguarding Training (DSL for senior managers) is 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 2023

Knowledge and Experience.

Thanet Early Years Project prides itself on having a well-qualified and experienced workforce, this includes employing seven Early Years graduates and one finance graduate of whom four have achieved Early Years Professionals status and one is an Qualified Teacher. 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 face-to-face training delivered by the Quality Assurance and Training Manager (QAT) and Setting Managers in collaboration. Outside, in-person training and qualifications is taken through other training providers such as the Kent Safeguarding Children's Board (KSCB), The Education People (TEP) and a private provider of Paediatric First Aid.

NoodlesNow is available for staff to access online at any time. These courses enable staff to continue learning new skills or refining current skills. Through the courses provided on the platform, staff are able to discover new innovative ways of integrating and applying 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 and the QAT. Other managers assist according to their areas of expertise, for example, Pension policies, Special Educational Needs or Bottle Feeding. Once approved, policies are signed off by trustees at monthly meetings or as required. The Project Manager signs the policies on behalf of the Chair of the Board.

All new staff joining the project receive an induction programme encompassing Human Resources policies with the QAT. 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

Staff Progression: Five TEYP staff members who initially joined as creche assistants or Nursery Practitioners advanced into management positions. This includes one Setting Manager, two Deputy Managers, and two Senior Practitioners. This demonstrates the significant impact of TEYP's monitoring and training programs, including the coaching and mentoring initiatives in place.

New Manager Appointments: A new manager was appointed to lead Explorers. Growing Together also welcomed a new manager.

Restructuring Opening and Closing Hours: In May, due to low attendance during early and late sessions across all three nurseries, and the resulting financial strain on individual nurseries covering staff wages without corresponding income from these sessions, the Project Manager, in consultation with the board, proposed a restructuring of the nurseries’ operating hours. Staff consultations took place in May 2023, and the proposed new hours will be implemented starting on 1st September. ;

Office Manager Retirement: In May 2023, the Office Manager retired from her position after 16 years of dedicated service.

Growing Together Relocation: On July 25th, 2023 Growing Together closed its doors at the Ellington site in preparation for its move back to Newington Children's Centre. While the Head Teacher at Ellington advocated for the nursery to remain at the school once the Newington Children's Centre reopened in the next academic year, the Project Manager and the board determined that the building was no longer suitable for this purpose.

Newington Children's Centre Transition: Keys for Newington Children's Centre were received in June 2023, markinga significant development in the transition process.

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THANET EARLY YEARS PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023

ACHIEVEMENT AND PERFORMANCE

Our Achievements

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.

Hand in Hand faced a challenging start to the new academic year as two key staff members departed, posing difficulties in recruiting suitable replacements. Additionally, the organisation dealt with a significant increase in staff absences attributed to the impact of COVID-19.

Despite the reopening of the baby room in September 2022, the enrolment of infants remained low. While there was a gradual increase in numbers over the course of the year, it fell short of initial expectations. A potential factor contributing to this could be the nursery's Term Time-only operation and its early closure at 4 pm. Consequently, a decision was made to restructure and introduce a dedicated baby/toddler zone in the upcoming academic year.

By March, new staff members were successfully recruited, and the team was effectively assembled and acclimated, reaching a stable state by May 2023.

The challenge of low attendance was not Jimited to the baby room alone, as it extended to early and late session enrolments as well.

Growing Together Childcare Centre

This academic year, the nursery underwent a managerial change as the current manager transitioned to prepare for the opening of Adventurers Nursery, scheduled for August at Newington Children's Centre. However, due to delays and readiness issues with the new centre, the merger of two nurseries within one building became necessary in September. Given the space constraints at Ellington, both nurseries had to limit the number of enrolled children. This dual management arrangement, with two managers and two deputy managers, strained finances as the number of enrolled children did not allow the nurseries to break even. Furthermore, the issue of low attendance extended to the afternoon, early, and late sessions.

On September 5th, 2022, Ofsted conducted an inspection at Growing Together, led by the new manager. As a result of their efforts, Growing Together received a 'GOOD' grade rating.

During this period, a staff member at this setting remained on long-term sick leave due to Long Covid, starting from January 2022. She resigned in May 2023. Additionally, in February 2023, another member of the Growing Together team underwent a serious operation and went on long-term sick leave.

In April 2023, the board made the decision to close Growing Together at the Ellington Site. The plan was for Growing Together to relocate back to Newington at the end of July, instead of opening the nursery under the Adventurers name.

Explorers Nursery

The Deputy Manager assumed the new role as manager in September, and the nursery continued to enjoy popularity, with numerous children securing spots for the September intake. However, the issue of low attendance persisted, particularly during the early and late sessions.

In March 2023, Explorers received

a GOOD grade rating by Ofsted.

Also, in March 2023, Kent County Council (KCC) initiated a public consultation aimed at the potential closure of two children's centres. This posed a direct threat to the Priory Children's Centre, including the associated nursery operated by TEYP. In response, TEYP launched a proactive campaign, led by a capable and experienced parent advocate, to address this challenge. We are still awaiting the outcome of this consultation which has still not been announced by KCC. However, Explorers nursery is no longer feared to be at risk of closure.

Overall

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THANET EARLY YEARS PROJECT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023

During the past 12 months, TEYP has provided 183 children with childcare services within its registered early years nurseries. As a result, more than 178 families have benefited from accessing nursery places with TEYP across its three nursery settings. These numbers have decreased in comparison to the last financial year, however, the increase in the number of children taking the 30 hours funding means has increased. Where there is more 30-hour funding, there is more children taking more sessions.

Créches - 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).

The number of creches commissioned continue to remain low again this academic year.

In addition, TEYP has provided 58 children from 50 families with childcare within our Créches located within Thanet, which enable families to participate in training and receive support from external agencies.

FINANCIAL REVIEW

Principal funding sources The principal funding sources are: free childcare)1. Kent County Council (Funding for Nursery Education, Free for Two funding for 2 year olds & 30 hours 2. Fees from parents

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THANET EARLY YEARS PROJECT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023

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 Funds are kept in different banks, so we are fully covered by the compensation scheme. We have investments in 5 different banks, four of which are tied in for a year and one being accessible with 35 days’ notice. The cash flow is being monitored by the financial controller who will action a notice for the withdrawal, should there be a need as required. 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.

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 £492k of cash funds available for, and on, short to medium term investment.

Type of Investment, Benchmarking and Management of Current Investments

Investments are currently cash deposit accounts yielding between 3.1% and 4.35% rates of interest return which are higher compared to rates in the previous financial year as the Bank of England base interest rate has been increased. 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.

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THANET EARLY YEARS PROJECT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023

FUTURE DEVELOPMENTS

Thanet Early Years Project (TEYP) consistently assesses the services it offers to ensure the delivery of high-quality care for children aged under 5 years. TEYP remains dedicated to exploring avenues for expanding its service portfolio, and in the upcoming financial year, it will actively seek opportunities to establish a fourth early years facility within the Thanet region.

TEYP plans to introduce a novel position, the Early Years Foundation Stage Lead, responsible for facilitating in-depth learning experiences for all children across our nursery facilities. As an experienced and accredited staff member, they will visit each location to provide deep level learning activities to all ages. The Lead Practitioner will provide informative newsletters to parents to keep them informed about their children's learning objectives. This approach aims to enrich the learning process, fostering enhanced practice and overall development and will be a unique selling point to attract more families looking for a good quality nursery education for their children.

Furthermore, TEYP is committed to the ongoing utilisation and enhancement of its Facebook page. Concurrently, TEYP is actively working on upgrading its website to expand service offerings for parents and to facilitate seamless access to TEYP documentation, such as registration forms.

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 2023

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.

  1. General Eligibility - a potential trustee needs to be aged 18 years or over - a potential trustee must not be disqualified from acting as a trustee by virtue of the Charities Act 1993 section 72(1)

Whereby the following individuals are disqualified:

In addition

THEREFORE BEFORE CONSIDERING THE APPOINTMENT OF A NEW TRUSTEE THE FOLLOWING ACTIONS NEED TO BE TAKEN

i) check the Register of disqualified persons ii) make the potential recruit aware of 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.

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THANET EARLY YEARS PROJECT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT 3. Describing the Role

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

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023

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 Rebecca Land as the Chair of Trustees.

Organisation Structure

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THANET EARLY YEARS PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023

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:

And by the TEYP Administrator to complete the documentation for:

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 on a 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.

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

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 2023

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

Trustees Mr P J Davies (Chair) (resigned 25/4/2023) Ms R J Land (Chair) Mr HC Kemp Mrs J E Bonner Ms K D Hammond (Project Manager) Ms M B Hutchinson Mr P 1 McGuirk Ms B A Young

Secretary to the Trustees Mrs Maria Knight - resigned May 2023 Mrs Barbara Smith - from June 2023

Auditors Spurling Cannon Audit Limited 424 Margate Road Westwood Ramsgate Kent CT12 6S]

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

STATEMENT OF TRUSTEES' RESPONSIBILITIES The trustees (who are also the directors ofThanet Early Years Project for the purposes ofcompany 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 - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

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 Companics 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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THANET EARLY YEARS PROJECT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES- continued Inso 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 Balulgoa2>... and signed on its behalf by:

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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 2023 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).

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.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

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 concem 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

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:

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and did not identify any specific areas of concern.

In common with all audits under ISAs (UK), we are required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included Early Years Foundation Stage framework, Special Educational Needs and Disabilities (SEND) Regulations, The Charity Act, health and safety and tax legislation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www. frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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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: 241712823.

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THANET EARLY YEARS PROJECT

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2023

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||||||| |---|---|---|---|---|---| |2023|2022| |Unrestricted|Restricted|Total|Total| |funds|funds|funds|funds| |Notes|£|£|£|£| |INCOME AND ENDOWMENTS FROM| |Donations and legacies|2|48|903|951|213| |Charitable activities|4| |The provision ofpreschoo!|educational services|586,305|11,415|597,720|607,483| |Tnvestment income|3|5,399|(2)|5,397|2,844| |Total|591,752|12,316|604,068|610,540| |EXPENDITURE ON| |Charitable activities|5| |The provision ofpreschool educational services|§63,775|4,859|568,634|612,784| |NET INCOME/(EXPENDITURE)|27,977|7,457|35,434|(2,244)| |RECONCILIATION OF FUNDS| |Total funds brought forward|404,289|33,137|437,426|439,670| |TOTAL FUNDS CARRIED|FORWARD|432,266|40,594|472,860|437,426|

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The notes form part of these financial statements

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THANET EARLY YEARS PROJECT

BALANCE SHEET 31 JULY 2023

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||||||||| |---|---|---|---|---|---|---|---| |2023|2022| |Unrestricted|Restricted|Total|Total| |£|£|£|£| |Notes|funds|funds|fands|funds| |FIXED ASSETS| |Tangible assets|12|4,731|-|4,731|-| |CURRENT ASSETS| |Debtors|13|3,426|-|3,426|29,358| |Cash at bank|451,437|40,595|492,032|569,417| |454,863|40,595|495,458|598,775| |CREDITORS| |Amounts|falling due within one year|14|—_|(27,329)|=|(27,329)|(161,349)| |NET CURRENT ASSETS|427,534|40,595|468,129|437,426| |TOTAL ASSETS|LESS CURRENT| |LIABILITIES|432,265|40,595|472,860|437,426| |NET ASSETS|432,265|40,595|472,360|437,426| |FUNDS|16| |Unrestricted funds|432,265|404,289| |Restricted|funds|40,595|33,137| |TOTAL FUNDS|472,860|437,426|

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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 vow PS4i1.9..2.2.3...s00000 and were signed on its behalf by:

Mrs J E Bonner - Trustee

The notes form part ofthese financial statements

Page 18

THANET EARLY YEARS PROJECT

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|||||||| |---|---|---|---|---|---|---| |CASH|FLOW|STATEMENT| |FOR THE YEAR ENDED|31|JULY|2023| |2023|2022| |Notes|£|£| |Cash|flows|from|operating|activities| |Cash|generated from|operations|]|(76,474)|10,226| |Net cash|(used|in)/provided by|operating|activities|(76,474)|10,226| |Cash|flows|from|investing|activities| |Purchase|of tangible|fixed|assets|(6,308)|-| |Interest|received|5,397|2,844| |Net cash (used|in)/provided by|investing|activities|(911)|2,844| |Change|in cash|and|cash|equivalents|in| |the|reporting period|(77,385)|13,070| |Cash|and|cash|equivalents|at the| |beginning|of the reporting period|569,417|556,347| |Cash and cash|equivalents|at the end|of| |the|reporting period|492,032|$69,417|

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The notes form part of these financial statements

Page 19

THANET EARLY YEARS PROJECT

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2023

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

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|||||||| |---|---|---|---|---|---|---| |2023|2022| |£|£| |Net|income/(expenditure)|for|the|reporting period|(as|per the| |Statement|of Financial Activities)|35,434|(2,244)| |Adjustments|for:| |Depreciation|charges|1,577|-| |Interest|received|(5,397)|(2,844)| |Decrease/{increase)|in|debtors|25,932|(21,772)| |(Decrease)/increase|in|creditors|(134,020)|37,086| |Net cash (used in)/provided|by operations|(76,474)|10,226|

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2.

ANALYSIS OF CHANGES IN NET FUNDS

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|||||| |---|---|---|---|---| |At|1.8.22|Cash|flow|At 31.7.23| |£|£|£| |Net|cash| |Cash|at bank|569,417|(77,385)|492,032| |569,417|(77,385)|492,032| |Total|569,417|(77,385)|492,032|

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The notes form part of these financial statements

Page 20

THANET EARLY YEARS PROJECT

  1. ACCOUNTING POLICIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

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 - 25% on cost

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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continued...

THANET EARLY YEARS PROJECT

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 2023

2: DONATIONSANDLEGACIES DONATIONSANDLEGACIES
2023 2022
£ £
Donations 951 213
3: INVESTMENT INCOME
2023 2022
£ £
Deposit accountinterest 5,397 2,844
4. INCOME FROMCHARITABLE ACTIVITIES
2023 2022
Activity £ £
The provision ofpreschool educational
Grants services 498,915 $11,025
The provision ofpreschool educational
Fees services 93,994 96,350
The provision ofpreschool educational
Sundry income services 4,811 108
597,720 607,483
Grants received, included inthe the above, are as follows:
2023 2022
£ £
Othergrants 39,412 65,694
Funded 3&4YearOldNursery Places
Funded2YearOldNursery Places		 337,366
122,137		 346,782
97,880
Coronavirus Job Retention Scheme Grant - 669
498,915 511,025
5: CHARITABLE ACTIVITIESCOSTS
Grant
fundingof
Direct activities
(see note		 Support
costs (see
Costs 6) note 7) Totals
£ £ £ £
Theprovision ofpreschool educational
services 389,057 809 178,768 568,634

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THANET EARLY YEARS PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023

6. GRANTSPAYABLE
2023 2022
£ £
The provision ofpreschool educational services 809 767
Ts SUPPORT COSTS
Governance
Management
£		 Finance
£		 costs
£		 Totals
£
The provisionofpreschool educational
services 171,823 145 6,800 178,768
8. NETINCOME/(EXPENDITURE)
Netincome/(expenditure) is stated after charging/(crediting):
2023 2022
£ £
Auditors' remuneration 6,800 7,950
Othernon-audit services - 2,430
Depreciation -owned assets 1,577 .
Otheroperating leases 37,566 50,328
9. TRUSTEES' REMUNERATION AND BENEFITS
2023 2022
£ £
Trustees’ salaries 45,915 44,398
Trustees' social security
Trustees’ pensions paid		 5,185
2,294		 5,056
2,217
53,394 51,671

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.

There were no other Trustees who received remuneration during the year ended 31 July 2023 nor for the year ended 31 July 2022.

Trustees' expenses

During the year Ms K D Hammond Trustee was reimbursed £29 for travel costs.

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continued...

THANET EARLY YEARS PROJECT

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 2023

10. STAFF COSTS

10. STAFF COSTSCOSTS
2023 2022
£ £
Wagesand salaries 519,970 458,300
Social security costs 33,677 24,463
Otherpension costs 15,004 13,468
568,651 496,231
Theaveragemonthly numberofemployees duringtheyearwas as follows:
2023 2022
Head Office and Settings Staff 39 35
No employees received emoluments in excess of£60,000.
11. COMPARATIVESFORTHESTATEMENTOF FINANCIALACTIVITIES
Unrestricted
funds		 Restricted
funds		 Total
funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies - 213 213
Charitable activities
The provision ofpreschool educational
services 580,400 27,083 607,483
Investmentincome 2,845 (1) 2,844
Total 583,245 27,295 610,540
EXPENDITURE ON
Charitable activities
The provision ofpreschool educational
services 596,258 16,526 612,784
NETINCOME/(EXPENDITURE) (13,013) 10,769 (2,244)
RECONCILIATION OFFUNDS
Total funds broughtforward 417,301 22,369 439,670
TOTALFUNDSCARRIEDFORWARD 404,288 33,138 437,426

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continued...

THANET EARLY YEARS PROJECT

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 2023

12. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At August2022 923 7,959
Additions 6,308 - 6,308
At31 July 2023 7,231 7,959 15,190
DEPRECIATION
At 1 August2022 923 7,959 8,882
Charge foryear 1,577 - 1,577
At 31 July 2023 2,500 7,959 10,459
NET BOOKVALUE
At 31 July 2023 4,731 - 4,731
At 31 July 2022 - - -
13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 250 1217
Otherdebtors 417 417
Prepayments and accrued income 2,759 27,724
3,426 29,358
14, CREDITORS: AMOUNTSFALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 1,318 29,119
Other creditors 3,116 -
Accrued expenses 22,895 132,230
27,329 161,349

Since 2015 the charity has been including provisions for anticipated additional charges that had not been invoiced to the Charity. No invoices have ever been raised for these costs and the Trustees now consider that any payment would be remote and therefore the provisions have been reversed to the Statement Of Financial Activities in full.

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continued...

THANET EARLY YEARS PROJECT

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 2023

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |15.|LEASING AGREEMENTS| |Minimum|lease payments|under|non-cancellable|operating|leases|fall|due|as|follows:| |2023|2022| |£|£| |Within|one year|-|8,000| |16.|MOVEMENT|IN|FUNDS| |Net| |movement|At| |At|1.8.22|in|funds|31.7.23| |£|£|£| |Unrestricted|funds| |General|fund|404,289|27,976|432,265| |Restricted|funds| |Ramsgate|Charities|Fund|74|-|74| |Explorers|Early|Years|Pupil Premium|9,907|2,316|12,223| |Hand|in Hand Early|Years|Pupil|Premium|16,219|4,052|20,271| |Growing|Together Early|Years|Pupil| |Premium|6,237|997|7,234| |Hardship|Fund|700|93|793| |33,137|7,458|40,595| |TOTAL FUNDS|437,426|35,434|472,860| |Net movement|in|funds,|included|in the|above|are|as|follows:| |Incoming|Resources|Movement| |resources|expended|in|funds| |£|£|£| |Unrestricted|funds| |General|fund|591,751|(563,775)|27,976| |Restricted|funds| |Explorers Early Years Pupil Premium|3,652|(1,336)|2,316| |Hand|in Hand Early|Years|Pupil Premium|5,678|(1,626)|4,052| |Growing|Together|Early|Years Pupil| |Premium|2,085|(1,088)|997| |Hardship|Fund|902|(809)|93| |12,317|(4,859)|7,458| |TOTAL FUNDS|604,068|(568,634)|35,434|

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continued...

THANET EARLY YEARS PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR - continued THE YEAR ENDED 31 JULY 2023

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Net| |At|movement|At| |1.8.21|in|funds|31.7.22| |Unrestricted|funds|£|4|£| |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| |GrowingHand in HandTogether Early Early Years Years PupilPupil Premium|11,903|4,316|16,219| |Premium| |Hardship|[Fund]|2,897|3,340|6,237| |-|700|700| |22,369|10,768|33,137| |TOTAL FUNDS|439.670|(2,244)|437,426| |Comparative|net movement|in funds,|included|in the above are|as follows:| |Incoming|Resources|Movement| |resources|expended|in|funds| |Unrestricted|funds|£|£|=| |General|fund| |Restricted|funds|583,246|(596,258)|(13,012)| |Ramsgate Charities Fund|212|(767)|(555)| |Explorers Early Years Pupil Premium|4,028|(1,061)|2,967| |Hand in Hand Early Years Pupil Premium|4,940|(624)|4,316| |Growing Together Early Years Pupil| |Premium| |Hardship|[Fund]|4,473|(1,133)|3,340| |Contain|Outbreak Management Fund|12,94]700|(12,941)-|700-| |27,294|(16,526)|10,768| |TOTAL FUNDS|610,540|(612,784)|(2,244)|

----- End of picture text -----

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continued...

THANET EARLY YEARS PROJECT

NOTES TO THE FINANCIAL STATEMENTS[-][continued] FOR THE YEAR ENDED 31 JULY 2023

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|1.8.21|in funds|31.7.23| |£|£|£| |UnrestrictedGeneral fund|funds|417,301|14,964|432,265| |RestrictedRamsgate Charitiesfunds|Fund|629|(555)|74| |Explorers Early Years Pupil Premium|6,940|5,283|12,223| |Hand in Hand Early Years Pupil Premium|11,903|8,368|20,271| |Growing Together Early Years|Pupil|2,897|4,337|7,234| |Premium|-|793|793| |Hardship|Fund| |22,369|18,226|40,595| |TOTAL FUNDS|439,670|33,190|472,860| |A current year|12 months and prior year 12 months combined net movement in funds, included|in the above are| |as|follows:|

----- End of picture text -----

----- Start of picture text -----
|||||| |---|---|---|---|---| |Incoming|Resources|Movement| |resources|expended|in funds| |£|£|£| |UnrestrictedGeneral fund|funds|1,174,997|(1,160,033)|14,964| |RestrictedRamsgate Charitiesfunds|Fund|212|(767)|(555)| |Explorers Early Years Pupil Premium|7,680|(2,397)|5,283| |Hand|in Hand Early Years Pupil Premium|10,618|(2,250)|8,368| |Growing Together Early Years Pupil|6,558|(2,221)|4,337| |PremiumHardship Fund|1,602|(809)|793| |Contain Outbreak Management Fund|12,941|(12,941)|-| |39,611|(21,385)|18,226| |ad|So|ee| |TOTAL FUNDS|1,214,608|(1,181,418)|33,190|

----- End of picture text -----

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continued...

THANET EARLY YEARS PROJECT

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 2023

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2023.

Page 29

THANET EARLY YEARS PROJECT

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023

2023 2022
£ £
INCOME ANDENDOWMENTS
Donations and legacies
Donations 951 213
Investment income
Depositaccountinterest 5,397 2,844
Charitable activities
Grants 498,915 511,025
Fees 93,994 96,350
Sundry income 4,811 108
597,720 607,483
Total incomingresources 604,068 610,540
EXPENDITURE
Charitable activities
Wages 396,380 372,690
Social security 22,140 13,938
Pensions 9,414 8,409
Rent
Insurance		 23,515
4,853		 38,789
4,740
Playgroup costs 4,778 8,648
EYPP Spend 4,050 4,964
Rates and water (2,089) 2,892
Lightandheat
Telephone		 (45,723)
1,004		 (4,685)
660
Postage, stationery and advertising 425 999
Maintenance
Travelling expenses		 (33,631)
168		 12,506
47
Professional fees 493 927
Clothing
Storage		 30
-		 2,649
25
Removal costs 1,673 -
Fixtures and fittings 1,577 -
Grants to individuals 809 767
389,866 468,965
Support costs
Management
Trustees’ salaries 45,915 44,398
Trustees' social security 5,185 5,056
Trustees’ pensionspaid
Wages		 2,294
77,675		 2,217
41,212
Carriedforward 131,069 92,883

This page does not form part of the statutory financial statements

Page 30

THANET EARLY YEARS PROJECT

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023

2023 2022
£ £
Management
Broughtforward 131,069 92,883
Social security 6,352 5,469
Pensions 3,296 2,842
Rent 14,051 11,539
Rates and water 488 853
Insurance 693 677
Telephone 1,345 1,518
Postage, stationery and advertising 428 655
Sundries 174 143
Equipment and maintenance 3,650 5,132
Travelling expenses 212 57
Trainingand recruitment (10) 2,250
Professional fees 185 168
Subscriptions 9,890 9,066
171,823 133,252
Finance
Bank charges 145 187
Governance costs
Auditors' remuneration 6,800 7,950
Auditors' remuneration fornon audit work - 2,430
6,800 10,380
Total resources expended 568,634 612,784
Netincome/(expenditure) 35,434 (2,244)

This page does not form part of the statutory financial statements

Page 31