CHADWELL PRE4CHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 REPORT OF THE DIRECTORS AND TRUSTEES AI¥D FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
CHADWELL PREcHOoL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 FINANCIAL ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 COENTS Legal & AdmiDists3tion tnforniation. TnteeS Report Independent Examiners Report Statement of Financial Activities Balance Sheet 9-17 Notes to the Accounts
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2024 Registered Charity Number: 1101239 Trnst¢es.' Mr A Shenoy Ms D Tsoukalas MTS V Agrawal Directors: Mr P Bawa Company Secretary: Mrs S Rafiq Status: The Clwity is r¢gisterd with the Pre School arning Alliance. Redbridge Early Years and Ofsted. As from I st April 2004 the Charity became company limited by guarantee and a registered charity governed by its Memorandum & Articles of Association.
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2024 Reference & Administrative Details The rcferenc¢ and administrative InforntiOn set oul below forn part of the Trustee's Report. Status Chadwell Pre-school is a charitable company limited by guarantee, which w&5 incorpordted on the I lth MaTch 2004 and registered as a charity on the 10 November 2005. Principal Office & Registrred Offjce: Chadwell Pre School 67 Reynolds Avenue Chadwell Heath Essex RM6 4RT A Company Limited by Guarantee Registcred in England & Wales: Company number: 04692941 Bankers: NatlODal Westminster Bank plc 27 High Roa(L Chadwcll Heath Essex RM6 6QD Indep¢ndent Exatniner: P G Harris FCCA ACA Ch¢gwidden & Co Priestley House. Prieslley Gardens Chadwell Heath, Essex RM6 4SN Primary Objectives: To enhance the development and education of the children under statutory school age by encouraging parents to understand and Provide for the needs of their children through community groups
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUAK4NTEE REGISTERED CHAIUTY NUMBER 1101239 ACCOUNTS FOR THE YEAR ELYDED 31ST MARCH 2024 TRUSTEES REPORT The Truste¢s and the director of the charity for the purposes of the Companies Act 2006, are pleased to present their report and the unaudited financial statement for the year ended 3 1st March 2024. which are also prepared to meet the requirements foi a directors. report and accounts foT Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the M¢moTandum and Articles of Associatio and Accounting and Reporting by Charities: Statement of Reconimended Practicc applicable to charities pr¢pating their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Chadwell Pre School is governed by the constitution adopted on the 18th May 1992 as amended on the 10th October 1995. As from 1st April 2004 the Charity became a company limited by guarantee. Structure, Governance and Man8gement The charity is governed by the board of trustees which have scheduled meetings each year. As oullined in the Articl&s of Association. the number of Directote¢S forniing main Board of Trustees including Officcrs shall not be IS than two members. Board of Tte¢S is responsible for overall strategy and management of the organisation. The day-to-day managcmcnt of the charity, including staff and financial matters, is delegated to the manager, currently Sunmeet Kaur who reports to the board of trustees. Members of the charitable company guarantee to contribufr an amount not exceeding £1 to the assets of th¢ charitable company in the event of winding up, The Trustees are members of the charitable company but this entitles them only to voting rights. The charity is governed by a Board of Truste¢s wllectively referrd to as th¢ Trustees. There is also a Director of the company for Companies Act purposes. Objectives and Activitles To enhance the developments and education of children under statutory school age by encourallg parents to understand and provide for the needs of their children thtough community 0UpS. When planning our activities for the year, the Trusttts have considered the Commission's guidance on public benefit an in particular. the specific guidance on charities for the advancement of education. Our aim, through our principal activity. is to Provide the children of the local area with th¢ education that develops thcir capabilities and needs whilst they are under the statutory school age and to prepare them for their h0o1 later in life.
CHADWELL PREcHOoL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 TRUSTEES REPORT CONTINUED Achievement and Perfomanee Chadwell Pre-school did struggle financially at the beginning of the year &8 we had a reduced intake of children and the increase to cost of living, but we ended the year in a positivc way. Two sessions are daily during temi times with the addition of 30 hours childr¢n. Some parents made voluntary donations for snacks of £1 per week for 15 hours and £2 per week for 30 hours. We hold a petty cash amount of £100 and ended the year with 9 staff on the payroll. We continuously monitor the effectiveness. quality and cost ¢ificiency of our activities to ensure that our limited resources are put to best use. Financial Review Chadwell Pre-school's overall f1claI sItIon h&8 improved in the year with the Statement of Financial Activities showing a surplus of £2.921 (2023: deficit of £7.067). The majority of our total income is madc up of funding from the London Borough of Redbridge. We continuously monitor the effectivene&s. quality and Cost ¢ffici¢ncy of our activities to ensure that our limited resources are put to best use. and we remain committed to these activities. Ineome and Reserves Policy Income comes from fees and fundraising and the trustees, policy is to maximise the incomc for the benefit of the Pre-school. The trustccs hav¢ s¢t a rescrv¢ policy of approximately 3 months expenditure, which would include redundancy costs to staff of £9.713. Therefore in the current year the reserves level should bc a minimum of approximately £49,336. We anticipate that after restricted funds and liabilities, the Chan'ty's free reserves foT the purpose are £6,582, which is below our minimum requirement. Rlsk ManagemeDt The TnLStees consider that the main risks to the Pre-school are fire or possible injury to children. The TnteeS have diminished their risk through usual insurance. Rj'sk of closure will lead to redundancy payments of £9,713 for all employees and the charity will need to set aside extra funds to cover this amount. Investment Powers and Policy The Trustees have considered the policy for investment. The corporate diamond account has been designalcd to act as a contingency against any possible redundancies. which may arise. Other reserves are held in the business reserve account for general purposes; taking into account the charity is entirely dependent of fees as its source of income.
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 TRUSTEES REPORT CONTINUED Statement of Trustees Responsibilities The charity's trustees and the directoi of the company are responsible for prarIng the Trustees Annual Report and the financial statements in accordance with applicabl¢ law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland. Company law requires the Trustees to prepare financial statements for each financial yeaT which gives a t¢ and fair view of the state of affairs of the charitable company and of the incoming resources and application of Tesources, including thc income and expenditur¢. of the clwitable company for that period. In preparing these financial statements, the Trustees are required to: Select suitable accounting policies and then apply them consistently" Observe the methods and principles in the Charities SORP Make judgements and accounting estimates which are reasonable and pnthnt. Stste whether applicable UK aOUnting standards have bccn followe subject to any material departures disclosed and explained in the flllancial statements" and Prepare the financial statements on a going concern basis unless it is appropriate to presume that the charity will continue to operate. The Tnte¢S are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the clwitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also r¢sponsible for safeguarding the assets of the cbaritable company and hence for taking reasonable St for the prevention and detection of fraud and other IegUlaTities. The Trustees are responsible for Ihe maintenance and integrity of ihe corporate and financial infomiation included on the charitable company's website. Legislation in the United Kingdom governRng the preparation and thssemination of financial statements may differ from legislation in other jurisdictions. In so far as the Trustees are aware". There is no relevant acKounts information of which the charitsble company's independent examiners are unaware. and The Trustees have taken all sieps that they ougbt to have taken to make themselves aware of any relevant accounts infornydtion and to cstablish that the independent examinets are aware of that infornlation. Th¢y have had due regard to guidance by the Clwity Commission in respect of Public Benefit. Approval This report was approved by the Board of Directors and Trnstees on .. signed on its behalf by:_ .41 Trustee Ms D Tsoukalas
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHAIUTY NUMBER 1101239 I rcport on the Accounts of Chadwell Pre-school for the year to 3 1st March 2024. which is s¢t out on pages 7 to 17. ective res onsibilities of Trustees and Examiner The charity's truste¢s and the director of the company for the purposes of cornpany law arc responsible for the prq)aration of the accounts. The chatity's trustees consider that an audit is not required for th¢ year under Scction 14412) of the Chariti¢s Act 2011 and that an independent ¢xamination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: . examine the accounts (under section 145 of the 2011 Act). to follow the procedures laid domm in the Genernl Th'rections given by the Charity Commissioners (under Section 145{5){b) of the 201 l Act); and to state whether particular matters have come to my attention. Basfis of Inde endent Examiner's Re ort My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a rcview of the accowjting records kept by the Charity and a comparison of the accounts presented with those records. li also includes considcration of any unusual items or disclosures in the accounts and the seeking of explanations from you as trustees concerning any such matters. The proc¢dures undcrtaken do not provide all the cvidcnce that would be required in an audit an(L consequently, no opinion is given as to whether the accounts present a .tn and fair view. and the report is limitcd to these matters set out in the statement below. Inde endent Examiner's Statement tn connection with my examination. no material matters have come to my attention which gives me reasonable cause to believe that, in any material respect: accounting r¢cords were noi kept in accordance with section 386 of the Companies Act 2006. or the accounts do not accord with such records; or the accounts do not comply with relevant accounting requirements under section 396 of th¢ Companies Act 2006 other than any rwuirement that the accounts give a 'true and fair. view which is not a matter considered as part of an independent examination. or the accounts have not been prepared in ac¢ordaoce with the Chan'tes SORP (FRS 102). I 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. P G Harris FCCA ACA Chegwidden & Co Priestley House Priestley Gardens Chadw¢ll Heath Esscx RM6 4SN Date: 29 | li IL4...........
CHADWELL PREcHOoL A COMPANY LIMrrED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024 Unrestrieted Funds Restrieted Funds 2024 Total 2023 Total Notes Incomin Resources Incoming resources from Generated funds Donations & Fundraising Incoming resources from Charitable activities Grants Activities for generating funds tnt¢rest Sundry Receipts Fee Income 645 645 464 1,528 1,528 1,528 144 34 162212 162 212 135 575 Total Ineomin Resources 163 001 137 601 Resources Ex ended Governancc costs 29 161609 Total Resources expenses 529 161609 Net Incoming Rcsources / (Resources Expended) 2,921 (i) 2.920 (7,067) Fund Balances BIF Fvnd Balances C 14 The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditu derives from continuing activities. Movements in funds are disclosed in Note 14 to the financial ateMents. The noles on pages 9 - 17 forni part of these Accounts
CHADWELL PREcHOoL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 BALANCE SHEET AS AT 31ST MARCH 2024 Note5 2024 2023 Fixed Assets Tangible Fixed Assets 28,Ol5 31,131 Current Assets Debtors Cash & Bank 10 530 488 Current Liabilities Amounts falling du¢ within onc year Net Current Assets/ Liabilities Net As$ets The funds of the Chari Funds Unrestricted Restricted Totsl Charity Funds 14 14 15,696 12,775 The company is cntitled to exemption from audit under Section 477 of the Companies Act 2006 for the yeat ended 3 1st March 2024. The members have not required the company to obtain an audit of its financial statements for thc year cnded 3 1st March 2024 in accordance with Section 476 of the Companies Act 21N)6. The directors acknowledge their responsibilities for: {a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the company &$ at the end of each financial year and of its profit or loss 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 fll7¢1al statements, so far as applicablc to the company. The financial statements have been prepared in accordance with the provisions of part 15 of the Companies Acl 2006 relating io small companies. The financial statements were approved by th¢ Board of Directors on . signed on its behalf by: . and were Mr P Bawa Director The notes forni part of these financial slatements
CHADWELL PRE4CHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHAIUTY ulBER 1101239 NOTES TO THE ACCOUNTS FOR THE YEAR EI¥DED 31ST MARCH 2024 l. AccounliDg Policies The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the y¢ar. Basis of aceounting The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in th¢ UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), and the Companies Act 2006. Assets and liabilities are recognised ai historic cost or transaction valu¢ unless otherwise stated in the relevant accounting policy or note(s). The funCIal statements comply with the Charitics (Accounts and Reports) Regulations 2008 issued under the Charities Act 2011. Exemption from preparing a Cash tlow statement Exemption has been taken from preparing a cash flow statement on thc grounds that thc charitablc company qualifies &$ a small company. Donations Donations are included in the Statement of Financial Activities when receivable. The value of s¢rvices provided by volunteers has not been included. When donors specify that donations are for particular Stricted purposes this income is included in incoming resources of restricted funds when receivable. GrAnts Grants are iecognised in full in the Statement of Financial Activities in the period that they arc receivable. Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity. this is nOllY upon notification of the interest paid or payable by the Bank. Operating lease5 Rental charges are charged on a straight line b&sis over the tern] of the lease.
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHAIUTY NUMBER 1101239 NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 l. Accounting Policies (Cont'd) Depreciation Depreciation is provided on fixed assets to write-off their cost or valU10n less any Tesidual value over their estimated useful lives as follows: Equipment 25 % on cost Lall Buildings and improvements are depreciated over the terni of the l¢as¢. All expenditure on fixed assets over £500 is capitslised. Fixed assets are stat¢d at cost less depreciation. Debtors Prepayments are valued at the amount prepaid net of any trade di%ounts. Cash at bank and hand Cash at bank and cash in hand includes cash and short terni highly liquid investments with a short maturity of three months or less from the dat¢ of acquisition or opening of the deposil or similar account. Creditors and provisions Creditors and provisions are recogmised where the charity has a present obligation resulting from a past event that will probably result in the transfcr of funds to a third paty and the amount duc to settle the obligation Can bc measured or estimated reliably. Creditors and provisions are nOMllY rccognised at their settlement amount 'J• after allowing for any trade discounts. The charity only has financial assets and fmancial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Commitments for future expenditure Other than norn)al commitments inherent to the operation of the charity and under contracts of employment there were no contractual obligations to future expenditure at th¢ balance sheet date. Where the trustees authorise expenditure which is not legally enforceable at the balance sheet dat¢ the appropriate amounts are set &side into desiated funds. 2. Legal Status of the Charity The charity is a company limited by guarantee and has no share capital. In th¢ evcnt of the charity being wound up, the liability in respect of the guarantee is limited to £1 per llMber of the charity. 10-
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 3. Donations, Fundraising and other Voluntary Receipts Unrestricted Fund5 Restricted Funds 2024 Totsl 2Q23 Total General Donations 645 645 645 645 464 464 4. Grants Unrestricted Funds Restricted Funds 2024 Total 2023 Total Capital Grant 5. Fee Income Unrestricted Funds Restricted Funds 2024 Total 2023 Total Fees Registration fees Funded fees 11,919 11,919 13,379 150293 162 212 150293 162 212 122 196 135 575
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANfEE REGISTERED CHARITY NUMBER 1101239 NOTES TO THE Accouwrs CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 6. Total Resources Expended Expenses 2024 2023 Wages Pension Phone Printin& postage & stationery Provisions Preschool equipment Trav¢lling Repairs & renewals Sundry Training Accountancy Dcpreciation Rates, water & refus¢ Insurance Heat & light Entcrtainmcnt Loss on disposal of fixed assets 131.384 2.345 627 3,692 2.061 1,430 I 16,667 1,952 735 3.954 1.988 1,654 4,176 98 335 960 3,116 3,361 2,023 5.778 223 4,420 423 673 930 3.116 2,773 1,847 3.396 140 Total resources expended 12
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANfEE REGISTERED CHARITY NUMBER 1101239 NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR EI¥DED 31ST MARCH 2024 7. Staff Costs and Trustees Remuneration 2024 2023 Wages Pension So¢ial Security costs 111,615 2.345 100.248 1.952 133 729 118619 No employcc earned £5(KKIO p.a. or more. Th¢ av¢Tage number of employees analysed by fimction was: 2024 2023 Support Manag¢m¢nt & Administralion No Rcmuneration was paid to the TnLStees. 8. Net Incoming Resources 2024 2023 This is slated after charging Depreciation Loss on disposal of fixed assets Accountancy 3.116 3,116 930 l3
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 9. Tangible Fixed Assets Building & Improvement Land Equlpment Total Costs At I st April 2023 4.875 73,160 33,293 111,328 Additions Disposals At 3 1st March 2024 111328 Accumulated De reciation At 1st April 2023 2,320 44,611 33,266 80,197 Charge 122 2,994 3,116 Eliminated on thsposal At 3 1st March 2024 Net Book Value At 31st March 2024 27 At 31 st March 2023 27 14-
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 OTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 l O. Debtors 2024 2023 Prepayments 530 530 488 488 I l. Creditors- amounts falling due wlthln one year 2024 2023 Other creditors and accruals Capital grant 3.568 3,379 12. Operatfing lease commltments Thc following operating Icasc payments are committed to be paid within one year: 2024 2023 Expiring.. In more than five years 13. ADalysis of Net Assets between Funds General Funds Restricted Funds Total Tangible fixed assets Net current assets l (liabilities) 15.822 127 12,192 28,015 15
CHADWELL PRE4CHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 14. Movements in Funds At 1st April Incoming 2023 Resourees At31st March 2024 Outgoing Resources Restricted Funds Capital Grant New Opporttinities Fund 1.528 1,528 6.719 1,528 1,529 6,718 Unrestricted Funds General Fund 160 080 161609 Purpose of Restrictsd Fund ew Opportunitieslsure Start The money used is by Chadw¢ll Pr¢-School and to support ongoing activities of the pr¢- school. Capital Grant A Capital Grant was r¢c¢iv¢d fot use on outdoor play provisions. There are no designated funds. 16-
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 15. Contingent liabilities and contracted commilments At 31 st March 2024 in the opinion of the TnteeS the Company had no contingent liabilities and no contractual commitments. 16. Share Capital The company is limited by guarantee. The liability of each member is limited to £1. The number of members at 3 1st March 2024 is 2 (2023: 2). 17. Taxatlon Taxatlon As a charity, Chadwell Pre-school is exempt on incotne and gains falling within section 466- 493 of the Corporation5 Tax Acl 2010 to the extent that these are derived from its charitable activities. No tax charges arose on the ordinary activities for the year ended 31° March 2024. Value Added Tai Value added tax is not recovernble by the charity. and as such is included as part of the r¢l¢vant costs in th¢ Statement of Financial Activities. 18. Related Parties There were no r¢lated party transactions in the period under review that require disclosure in the financial statements. 19. Capital Commitments There were no capital commitments provided for in th¢ financial statements for th¢ year ended 31 March 2024 (2023: Nil). 17-