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 2024
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 2024
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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 2024
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 2024. 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
There was a successful transition of children through to both Niton & Brighstone Primary Schools as we continue to work closely with staff in the Early Years.
We also continue to work closely with other professionals who visit the setting regularly. Jayne Hill sits on both the IOWSCP and The IOW Forum.
In December we joined our communities for Christmas celebrations and exhibited at the Christmas Tree Festival.
We had the joy of 2 senior staff member weddings in December and April.
Rosanna our Manager at Brighstone completed her degree in Early childhood studies.
We continued to maintain both buildings and the staff remained dedicated to providing an outstanding provision.
FINANCIAL REVIEW
Financial position
Total incoming resources for the year amounted to £400,531 (2023: £351,670) and resources expended for the year amounted to £429,596 (2023: £306,561). There was a deficit for the year of £29,065 compared to a surplus of £45,190 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 £286,073 in unrestricted reserves, and of this reserves not invested in fixed assets amounts to £237,731.
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 2024
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 2024.
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 member of the Association of Chartered Certified Accountants, 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
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 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 - Charitable activities Childcare services 396,600 Fundraising 3 408 Investment income 4 3,523 Total 400,531 EXPENDITURE ON Charitable activities Childcare services 429,531 Other 65 Total 429,596 NET INCOME/(EXPENDITURE) (29,065) Transfers between funds 13 500 Net movement in funds (28,565) RECONCILIATION OF FUNDS Total funds brought forward 314,638 TOTAL FUNDS CARRIED FORWARD 286,073 |
Restricted fund £ - - - - - - - - - (500) (500) 500 - |
2024 Total funds £ - 396,600 408 3,523 400,531 429,531 65 429,596 (29,065) - (29,065) 315,138 286,073 |
2023 Total funds £ 624 348,975 257 1,814 351,670 306,561 - 306,561 45,109 - 45,109 270,029 315,138 |
|---|---|---|---|
The notes form part of these financial statements
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NITON PRE-SCHOOL
BALANCE SHEET 31 AUGUST 2024
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 9 48,342 CURRENT ASSETS Debtors 10 8,564 Cash at bank 239,655 248,219 CREDITORS Amounts falling due within one year 11 (10,488) NET CURRENT ASSETS 237,731 TOTAL ASSETS LESS CURRENT LIABILITIES 286,073 NET ASSETS 286,073 FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - - |
2024 Total funds £ 48,342 8,564 239,655 248,219 (10,488) 237,731 286,073 286,073 286,073 - 286,073 |
2023 Total funds £ 41,211 2,748 278,258 281,006 (7,079) 273,927 315,138 315,138 314,638 500 315,138 |
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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 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 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 2024
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 2024
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 2024
2. DONATIONS AND LEGACIES
| 2. DONATIONS AND LEGACIES |
|
|---|---|
| Donations | 2024 2023 £ £ - 624 |
| 3. FUNDRAISING Fundraising |
2024 2023 £ £ 408 257 |
| 4. INVESTMENT INCOME Bank interest received |
2024 2023 £ £ 3,523 1,814 |
| 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Independent examiner's fees Depreciation - owned assets Deficit on disposal of fixed assets |
2024 2023 £ £ 2,400 2,400 3,676 3,510 - 1,307 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.
continued...
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NITON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
7. 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. 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 624 Charitable activities Childcare services 348,475 Fundraising 257 Investment income 1,814 Total 351,170 EXPENDITURE ON Charitable activities Childcare services 306,561 NET INCOME 44,609 RECONCILIATION OF FUNDS Total funds brought forward 270,029 TOTAL FUNDS CARRIED FORWARD 314,638 |
2024 17 Restricted fund £ - 500 - - 500 - 500 - 500 |
2023 15 Total funds £ 624 348,975 257 1,814 351,670 306,561 45,109 270,029 315,138 |
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continued...
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NITON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
9. TANGIBLE FIXED ASSETS
| Buildings Plant and & structures machinery £ £ COST At 1 September 2023 30,679 25,778 Additions 6,633 4,174 At 31 August 2024 37,312 29,952 DEPRECIATION At 1 September 2023 - 15,246 Charge for year - 3,676 At 31 August 2024 - 18,922 NET BOOK VALUE At 31 August 2024 37,312 11,030 At 31 August 2023 30,679 10,532 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Trade debtors 5,726 Other debtors 1,600 Prepayments 1,238 8,564 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Social security and other taxes 2,744 Other creditors 4 Accrued expenses 7,740 10,488 |
Totals £ 56,457 10,807 67,264 15,246 3,676 18,922 48,342 41,211 2023 £ - 1,600 1,148 2,748 2023 £ 1,766 4 5,309 7,079 |
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continued...
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NITON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
12. 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.
13. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Wight Aid Foundation TOTAL FUNDS Net movement in funds, included in the above are Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Wight Aid Foundation TOTAL FUNDS |
At 1.9.23 £ 314,638 500 315,138 as follows: |
Net movement in funds £ (29,065) - (29,065) Incoming resources £ 400,531 400,531 At 1.9.22 £ 270,029 - 270,029 |
Transfers between At funds 31.8.24 £ £ 500 286,073 (500) - - 286,073 Resources Movement expended in funds £ £ (429,596) (29,065) (429,596) (29,065) Net movement At in funds 31.8.23 £ £ 44,609 314,638 500 500 45,109 315,138 |
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continued...
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NITON PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
13. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Wight Aid Foundation TOTAL FUNDS |
Incoming resources £ 351,170 500 351,670 |
Resources Movement expended in funds £ £ (306,561) 44,609 - 500 (306,561) 45,109 |
|---|---|---|
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2024.
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NITON PRE-SCHOOL
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations Fundraising Fundraising Investment income Bank interest received Charitable activities Dinners Fees Trip Grants Total incoming resources EXPENDITURE Charitable activities Wages Purchases Outings Grants to institutions Other HMRC Interest Support costs Finance Loss on sale of tangible fixed assets Other Rates light & water Insurance Telephone Carried forward |
2024 £ - 408 3,523 413 176,554 60 219,573 396,600 400,531 326,819 29,214 - 540 356,573 65 - 8,962 2,255 1,100 12,317 |
2023 £ 624 257 1,814 735 157,383 540 190,317 348,975 351,670 240,251 9,891 2,046 60 252,248 - 1,307 6,391 3,466 928 10,785 |
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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 2024
| Other Brought forward Postage and stationery Advertising Repairs & renewals Cleaning Training Sundries Professional fees Subscriptions Bank charges Lease Depreciation of tangible fixed assets Governance costs Independent examiner's fees Total resources expended Net (expenditure)/income |
2024 £ 12,317 1,996 174 25,355 9,197 2,580 2,339 2,505 2,899 242 7,278 3,676 70,558 2,400 429,596 (29,065) |
2023 £ 10,785 1,632 280 18,011 1,990 1,148 2,497 2,325 3,047 117 5,263 3,511 50,606 2,400 306,561 45,109 |
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This page does not form part of the statutory financial statements
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