REGISTERED COMPANY NUMBER: 04838026 (England and Wales) REGISTERED CHARITY NUMBER: 1100496
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
FOR
NITON PRE-SCHOOL
Garbetts (IOW) Limited Exchange House St Cross Lane Newport Isle of Wight PO30 5BZ
NITON PRE-SCHOOL
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
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Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5 to 6
Notes to the Financial Statements 7 to 12
Detailed Statement of Financial Activities 13 to 14
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NITON PRE-SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
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 August 2021. 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
The governing document of the charity is the Memorandum of Articles of Association dated 11 July 2003.
The charity offers appropriate play, education and care facilities and training courses, together with the right of parents to take responsibility for, and become involved in, activities such as groups.
The aim of the charity is to ensure that children from all races, cultures, religion and means of ability are seeing the benefit of the aims and objectives set by the Pre-school Learning Alliance.
ACHIEVEMENT AND PERFORMANCE
Review of the year
As the threat of Covid remained looming over our heads we proceeded to carry on as normally as we could with children returning to the setting. Staff remained on furlough.
Sadly, we still couldn't hold a nativity in either setting but we both made videos of Christmas activities which were sent out to all parents.
January saw us back in lock down with the threat of the new OMICRON variant of Coronavirus.
We had no transitions to school and no trips. We did manage to have a graduation in July split over 2 days to limit the number of people in the setting to 30.
Sadly, there was no fundraising in this year.
FINANCIAL REVIEW
Financial position
Total incoming resources for the year amounted to £307,322 (2020: £275,659) and resources expended for the year amounted to £271,049 (2020: £259,374). There was a surplus for the year of £36,273 compared to a surplus of £16,285 in the previous year.
Reserves policy
The trustees maintain a level of reserves so that the charity has sufficient funds to support any short term cash deficits, meet unanticipated expenditure and to cover long term maintenance costs.
At the year end the charity holds £213,532 in unrestricted reserves, and of this reserves not invested in fixed assets amounts to £204,732. No material amounts have been designated.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, the memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
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NITON PRE-SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
04838026 (England and Wales)
Registered Charity number 1100496
Registered office School Lane Niton Isle of Wight PO38 2BP
Trustees Ms J Hill Chair/Preschool manager S J Chatfield K D Gow Mrs K Wyeth
Company Secretary Mrs K Wyeth
Independent Examiner Garbetts (IOW) Limited Exchange House St Cross Lane Newport Isle of Wight PO30 5BZ
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... Ms J Hill - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NITON PRE-SCHOOL
Independent examiner's report to the trustees of Niton Pre-School ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCCA which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mark Paxton FCCA Garbetts (IOW) Limited Exchange House St Cross Lane Newport Isle of Wight PO30 5BZ
Date: .............................................
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NITON PRE-SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 12,262 Charitable activities Childcare services 295,048 Investment income 3 12 Total 307,322 EXPENDITURE ON Charitable activities Childcare services 271,049 NET INCOME 36,273 RECONCILIATION OF FUNDS Total funds brought forward 177,259 TOTAL FUNDS CARRIED FORWARD 213,532 |
2020 Total funds £ 30,442 245,065 152 275,659 259,374 16,285 160,974 177,259 |
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The notes form part of these financial statements
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NITON PRE-SCHOOL
BALANCE SHEET 31 AUGUST 2021
| 2021 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 8,800 CURRENT ASSETS Debtors 9 4,835 Cash at bank and in hand 245,209 250,044 CREDITORS Amounts falling due within one year 10 (45,312) NET CURRENT ASSETS 204,732 TOTAL ASSETS LESS CURRENT LIABILITIES 213,532 NET ASSETS 213,532 FUNDS 12 Unrestricted funds 213,532 TOTAL FUNDS 213,532 |
2020 Total funds £ 9,715 4,295 171,296 175,591 (8,047) 167,544 177,259 177,259 177,259 177,259 |
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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NITON PRE-SCHOOL
BALANCE SHEET - continued 31 AUGUST 2021
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 ............................................. and were signed on its behalf by:
............................................. J Hill - Trustee
The notes form part of these financial statements
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NITON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
1. ACCOUNTING POLICIES
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.
- Plant and machinery - 25% on reducing balance
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.
continued...
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NITON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
| 2. DONATIONS AND LEGACIES Donations Grants Grants received, included in the above, are as follows: COVID-19 3. INVESTMENT INCOME Bank interest received 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Independent examiner's fees Depreciation - owned assets |
2021 £ 499 11,763 12,262 2021 £ 11,763 2021 £ 12 2021 £ 2,400 2,934 |
2020 £ 260 30,182 30,442 2020 £ 30,182 2020 £ 152 2020 £ 2,400 3,239 |
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5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.
continued...
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NITON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Full-time equivalent No employees received emoluments in excess of £60,000. 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Childcare services Investment income Total EXPENDITURE ON Charitable activities Childcare services NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 2020 16 15 Unrestricted fund £ 30,442 245,065 152 275,659 259,374 16,285 160,974 177,259 |
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NITON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
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8. TANGIBLE FIXED ASSETS
Plant and
machinery
£
COST
At 1 September 2020 25,396
Additions 2,017
At 31 August 2021 27,413
DEPRECIATION
At 1 September 2020 15,679
Charge for year 2,934
At 31 August 2021 18,613
NET BOOK VALUE
At 31 August 2021 8,800
At 31 August 2020 9,717
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Trade debtors 2,244 1,603
Other debtors 1,600 1,800
Prepayments 991 892
4,835 4,295
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NITON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Payments on account Trade creditors Social security and other taxes Other creditors Accrued expenses |
2021 £ 39,830 372 1,994 4 3,112 45,312 |
2020 £ - 255 3,143 4 4,645 8,047 |
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11. LEASING AGREEMENTS
The Charity is committed to paying rent, calculated at 7% of the income of Brighstone Pre-School, together with a fair and reasonable proportion of utilities costs, on an ongoing 5 year lease.
12. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
Net movement At At 1.9.20 in funds 31.8.21 £ £ £ 177,259 36,273 213,532 177,259 36,273 213,532 Incoming Resources Movement resources expended in funds £ £ £ 307,322 (271,049) 36,273 307,322 (271,049) 36,273 |
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NITON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.9.19 £ Unrestricted funds General fund 160,974 |
Net movement in funds £ 16,285 |
At 31.8.20 £ 177,259 |
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| TOTAL FUNDS 160,974 |
16,285 | 177,259 |
| Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 275,659 |
Resources expended £ (259,374) |
Movement in funds £ 16,285 |
| TOTAL FUNDS 275,659 |
(259,374) | 16,285 |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2021.
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NITON PRE-SCHOOL
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021
| INCOME AND ENDOWMENTS Donations and legacies Donations Grants Investment income Bank interest received Charitable activities Dinners Fees Grants Total incoming resources EXPENDITURE Charitable activities Wages Purchases Outings Grants to institutions Support costs Other Rates light & water Insurance Telephone Postage and stationery Advertising Repairs & renewals Carried forward |
2021 £ 499 11,763 12,262 12 909 101,072 193,067 295,048 307,322 219,956 10,080 - 60 230,096 3,260 3,574 1,066 1,572 958 5,323 15,753 |
2020 £ 260 30,182 30,442 152 229 79,240 165,596 245,065 275,659 219,203 6,703 1,245 60 227,211 3,100 3,519 1,108 400 2,083 2,881 13,091 |
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This page does not form part of the statutory financial statements
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NITON PRE-SCHOOL
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021
| Other Brought forward Household & cleaning Training Sundries Professional fees Subscriptions Bank charges Lease Depreciation of tangible fixed assets Governance costs Independent examiner's fees Total resources expended Net income |
2021 £ 15,753 4,818 1,322 1,861 2,685 1,557 158 7,466 2,933 38,553 2,400 271,049 36,273 |
2020 £ 13,091 4,461 435 2,488 776 2,329 199 2,745 3,239 29,763 2,400 259,374 16,285 |
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This page does not form part of the statutory financial statements
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