CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 REPORT OF THE DIRECTORS AND TRUSTEES AND FINANCIAL STATEMENTS FOR THE YL4R ENDED 3 1ST MARCH 2025
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 FINANCIAL ACCOUNTS FOR THE YEAR ENDED 3 1ST MARCH 2025 CoNs Legal & Administration Information. Truslees 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 3 1ST MARCH 2025 Registered Charity Number: 1101239 Trustees: Mr A Shenoy Ms D Tsoukalas Mrs V Agrawal Directors: Mr P Bawa Company Secretary: Mrs S Rafiq Status: The Charity is registered with the Pre School Learning Alliance. Redbridge Early Years and Ofsted. As from I st April 2004 the Charity became a 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 2025 Reference & Administrative Details The reference and administrative inforniation set out below fonns part of the Trustee's Report. Chadwell Pre-school is a charitable company limited by guarantee, which was incorporat¢d on the I Ith March 2004 and registered &s a charity on the 10 Nov¢mbcr 2005. Principal Otyice & Registered Office.. Chadwell Pre School 67 Reynolds Avenue Chadwell Heath Essex RN6 4RT A Company Limited by Guarantee Registered in England & Wales.. Company number: 04692941 Bankers: National Westminster Bank plc 27 Iligh Road, Chadwell l4eath Essex RM6 6QD Independent Examiner: P G Harris FCCA ACA Chegwidden & Co Priestley House, Prieslley Gardens Chadwell HeatFL Essex RM6 4SN Primary Objectives: To enhance the development and education of the hildren 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 GUARANTEE REGISTERED CHARITY NUMBER 1101239 AccouKfs FOR THE YEAR ENDED 3 1ST MARCH 2025 TRUSTEES REPORT The Trustees and the director of thc charity for the purposes of the Companies Act 2006, are pkeas¢d to present their report and the unaudit¢d financial statement for the year ended 3 1st March 2025, which are also prepared to m¢¢t the requirements for a directors, rq)ort and accounts for Companies Act purposes. Thc financial statements comply with the Charitics Act 2011. the Companies Act 2006, the Memorandum and Articl¢s of AssociatiotL and Accounting and Reporting by Charities: Statement of Recornrnended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stundard applicable in the UK and Rcpublic of Ireland (FRS 102). The ChadweEI 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. Structur4 Governance and Managemcnt The charity is governed by the board of trustees which have scheduled meetings each year. As outlined in the Articles of Associalion, the number of Directors/Trustees forniing main Board of Trustees including Officers shall not be less than two members. Board of TnL8lees is responsible for overall strategy and management of the organksation. The day-to-day management of the charity, including staff and financial matters, is d¢legated to the manager, Currently Sunmeet Kaur who reports to the board of trustees. Members of the charitable company guarant¢¢ to contribute an amount not exceeding £1 to the assets of th¢ charitabl¢ company in the evcnt of winding up, The Trustee5 are members of the charitable company bul this entitles them only to voting rights. The Lharity is governed by a Board of Trustees collectively referred to as the Trustees. 'Thcre is also a Director of the company for Companies Act purposes. Objectives and Artivities To enhance the developments and education of children under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups. When planning our activities for the year, the Trustees have considered the Commission's guidance on public benefit and, in particular, Ihe specific guidance on charities for the advancement of education. Our aim, ihrough our principal activity, is lo provide the children of the local area with ihe educalion that develops their capabilities and needs whilst they are under the statutory school age and to prepare them for their school later in life.
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 AccouNfs FOR THE YEAR ENDED 3 1ST CH 2025 TRUSTEES REPORT Achievement and Perfornwice Chadwell Pre-school is doing w¢ll, due to the positive increas¢ in funding fees and new options to working parents. Two sessions are run daily during terni times with the addition of 30 hrs children. Some parents make voluntary donations for snacks ol £1 (15 hrsy£2 (30 hrs) per week. We hold a petty cash amount of £1 00 and ended the year wÈth 9 slalron the payroll. We continuously monitor the effectiveness, quality and cost efficiency of our activities to ensure that our limited resources are pul to best use. Financial Review Chadwell Pre-school's overall financial position has declined in the year with the Statement of Financial Activities showing a deficit of £766 (2024: surplus of £2,920). 'rhe majority of our total income is made up of funding from the London Borough of Redbridge. We continuously monitor the effectiveness, quality and cost efficiency of our activities to ¢nsure that our limited resources are put to b¢st use. and we remain committed to th¢s¢ activities. Income and Rery¢S Policy Income comes from t.ees and fundraising and the trustees, policy is to maximise the income for the benefit of the Pr¢-School. The trustees have set a reserve policy of approximately 3 months expenditure, which would include redundancy costs to staff of £10,003. 'fher¢fore in the current year the reserves level should bc a minimum of approximately £52,446. We anticipate that aftcr Testricted fvnds and liabilities, the Charity's free reserves for the purpose are £7,405, which is below our minimum requirement. The Trustees consider ihat the main risks to the Pre-school are fwe or possible injury to children. The Truslees have diminished their risk through usual insurance. Risk of closure will lead to redundancy payments of £10,003 for all employees and the charity will need to set aside extra funds to cover this amount. InveBlJn¢Dt Powers and Policy The Trustees have considered the policy for investment. The corporate diamond account has been designatrd to act as a contingency against any possible redundancies, which may ari8e. Other reserves are held in the business reserve account for general purposcs; 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 AccourS FOR THE YEAR ENDED 31ST MARCH 2025 TRUSTEES REPORT CONTINUED Statement of Truste¢s R¢sponsibilities The charity's trustees and the director of th¢ company are responsible for prcparing th¢ l-rustees Annual Report and the financial siatements in accordance with applicable law and United Kingdom Accounlin8 Standards, including Financial Rq)orting Standard 102: The Financial Reporting Slandard applicable in the UK and Republic of Ireland. Company law requires the Trustees to prepare financial statements for each financial year which gives a Irue 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 these fmancial statements, the Trustees are required to: Select suitable accounting policies and then apply them consistently; Observe the mithods and principles in the Charities SORP Make judgements and accounting cstimates which are reasonable and prudent. State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and Prepare the financial statements on a going concern basis unless it is appropriate to presume that the charity will conlinue to operale. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any lime the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They arc also responsible for saf¢gu(wding thc assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularilies. The Trustees are responsiblc for the maintenance and integrity of the corporate and financial inforn]ation included on the charitable company's website. Legislation in ihe United Kkngdom governing the preparation and diss¢mination of financial statcm¢nts may differ from legislation in other jurisdictions. In so far as the Trustecs ar¢ aware: There is no relevant accounts inforniation of which the charitable company's independent examiners are unaware; and The Trustees have taken all steps that ihey ought to have taken to make themselves aware of any relevant accounts inforniation and to establish thai ihe independent examiners are aware of that information. They have had duc rcgard to guidance by the Charity Commission in respect of Public Benefit. Approval 'rhis report was approv¢d by the Board of Directors and Trustees on ................ signed on its behalf by:_ IIL12f TnL8tee . Ms D Tsoukalas
INDEPENDENT EXAMtNER'S REPORT TO THE TRUSTEES OF CHADWELL PRE.SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 I report on the Accounts ofchadwell Pre-school for the year to 31 st March 2025, which is set out on pages 7 to 18. ve res onsibilities of Trustees and Examin¢r The charity's truslees and the director of the company for the purposes of company law are responsible for the preparation of the accounts. The charity.s trustees consider that an audit is not required for the year under Section 144(2) of the Charities Act 2011 and that an independent examination is needed. Having satisfi¢d myself that the charity is not subject to audit under company law and is eligible for ind¢p¢ndent examination, it is my responsibility to: _ examine the accounts (under section 145 of th¢ 201 l Act). to follow the proc¢dur¢s laid down in the G¢neral Directions giv¢n by the Charity Commissioners (under Seclion 145(5Xb) of the 2011 Act). and to state whether particular matters have come to my attention. Basis of Ind endent Examiner's My examination w&8 catried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of ihe accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and the seeking of explanations from you as tN8lees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether ihe accounts present a 'true and fair view, and the report is limited to these matters set out in the ststement below. end¢nt Examiner's Statement In connection with my cxamination, no material matters have come to my attention which gives me reasonabl¢ causc to believe thaL in any material rcspcct: accounting records were not kept in accordance with section 386 of the Companies Act 2006. or the accounts do not accord with such records; or thc accounts do not comply with r¢l¢vant accounting requirements undcr scction 396 of the Companies Act 2006 olher ihan any requirement that the accounts give a 'true and fair view which is not a matter considered &s part of an independent examination. or the accounts have not been prepared in acLordance with the Charites SORP (FRS 102). have come across no othcr mattcrs in connection with the examination to which attention should be drawn in this r¢port in order to enable a proper undcrstanding of thc accounts to be reached. P G Harris FCCA ACA Chegwidden & Co Priestley House Priestley Gardens Chadwell Heath Essex RM6 4SN Date:
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 STATEMEwf OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 3 1ST MARCH 2025 UnrestrACted Restsirt¢d 2025 2024 Incomin Incoming resources from Generated funds Donations & Fundraising Incoming resources from Charitabl¢ aclivities Grants Activities for generating funds Interest Sundry Receipts Fee Income 256 256 645 1,528 1,528 1,528 163 163 144 170 175 170 175 162212 Total Incomin Resources 170 594 172 122 Governance costs 171359 172 888 161609 Total Resources expenses 171359 172 888 161609 Net Incoming Resources / (Resourc¢s Expended) (765) (i) (766) 2,920 Fund Balances BIF Fund Balances CIF 14 The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities. Mov¢m¢nts in funds are disclosed in Note 14 to the fmancial statements. The notes on pages 9 - 18 forni part ofthese Accounts
CHADWELL PRE-SCHOOL A COMPIINY LIMtTED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 BALANCE SHEET AS AT 31ST MARCH 2025 Notes 2025 2024 Fixed A5scts Tangible Fixed Assets 24,899 28,015 Current Assets Debtors Cash & Bank 10 530 Current Liabilities Amounts falling due within one year N¢t Current A5setsl labilities Net Assets The fimds of the Chari Funds Unrestricted Restricted Total Charity Funds 14 14 14,931 15,696 The company is entiiled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025. The members have not required thc company to obtain an audit of its financial statements for the year ended 31 st March 2025 in accordance with Section 476 of the Companies Act 2006. The directors acknowlcdge their responsibilities for: (a) ensuring that the company k¢¢ps accounting records which comply with Sections 386 and 387 of th¢ Companies Act 2006 and (b) prq)aring financial statements which give a true and fair view of the state of affairs of the company as at the cnd of cach financial year and ot its profit or loss for each financial year in accordancc with the requirements of Scctions 394 and 395 and which otherwise comply with the requirements of the Compani¢s Act 2006 relating to financial statements, so far as applicable to the company. The fmancial statements have been prepared in accordance with the provisions of part 15 of the Companies Act 2006 relating to small companies. The fmancial statements were approved by the Board of Directors on signed on its behalf by: . and were Mr P Bawa Director Thc notes forni part of these financial statements
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 3 1ST MARCH 2025 l. Accounting Polici¢8 The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year. Basis of accounting 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 R¢porting by Chariti¢s'. Statcment of ReLommended Practice applicable to charities preparing their aLcounts in accordance with the Financial R¢porting Standard applicable in th¢ UK and Rcpublic of Ir¢land (F RS 102) (¢ff¢ctiv¢ l January 2019),, F inancial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Rq)ublic of Ireland, and th¢ Companies Act 2006. The financial statements have been prepared under the historical cost convention. Exemption from preparing a Cash flow statement Exemption has been tsken from preparing a cash flow statement on the grounds that the charitable company qualifies as a small company. All incoming resources are included in the statement of financial actÉvities when entitlement has passed to the charity. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular CagOrieS of income: income from donalions or grants is reCOlSed when there is evidence of entitlement to the gifL receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of thc goods unlcss this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts ar¢ includcd for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contractcd s¢rvic¢. 'lThis is cl&ssificd &s unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspenl in which case it may be regarded as restricted. Donations are included in the Statement of Financial Activities when receivable. The value of services provided by volunleers has not been included. When donors specify that donations are for particular restricted purposes this Éncome is included in incoming resources of restricled funds when receivable. Grants are recognised in full in the Statement of Financial Activities in the period that they are receivable.
CHADWELL PRE-SCHOOL A COMPANY LIMtTED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 NOTES TO THE ACCOUNrs CONTINUED FOR THE YEAR ENDED 3 1ST MARCH 2025 l. Accounting Policies (Cont'd) Intcrest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity. this is nornially upon notification of the int¢r¢st paid or payable by the Bank. Resources expended Expcnditure is accounted for on an accruals b&sis and h&s been classified under headings that aggr¢gate all costs relat¢d to the category. Wherc costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the usc of resources. Expenditur¢ includes any VAT which cannot be recovered and is reported as part of the ¢xp¢nditure to which it relates. Charitable expenditure compris¢s those costs incurred by the charity in the delivery of its activities. It includes both costs that can b¢ allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs are those costs incurrcd directly in support of exp¢nditurc on the objects of th¢ charity and include proj¢ct management undertaken at head oIfice. Governance costs comprise those costs associated wilh meeting the constitutional and siatulory requirements of the charity and include the audii fees and costs linked to the stralegic management of the charity. Rental charges ar¢ charged on a straight line basis ov¢r th¢ terni of the lease. Tangible fixed &88ets Tangible fixed assets are staled at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impainnent losses. Cost includes costs directly attribuLqble to making the asset Capable or operating as intended by management. Depreciation is provided at the following annual rates in order to wrile oifeach asset over its estimated useful life. Lquipment Land, Buildings and improvements 250/0 on cost - d¢pr¢ciat¢d over the temi of the lease. All fixed assets are initially recorded at cost. Items cosling less than £500 are not capitalised. Debtors Prepayments are valued at the amouni prepaid net of any trade discounts. Cash at bank and in 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 date of acquisition or opening of the deposil or similar aount. 10
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 3 1ST MARCH 2025 l. Accounting Policies (Cont'd) Creditors and provisions credito and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount du¢ to s¢ttlc the obligation can be m¢asured or estimated reliably. Creditors and provisions arc norn)ally recognised at their settlement amount after allowing for any trade discounts. The charity only has fmancial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instrLunents are initially r¢cogniscd at transaction value and subsequently mcasured at their settlement value with the excq)tion of bank loans whÈch are subsequently me&sured at amortised cost using th¢ effective interest method. Committnents for future expenditure Other than nornlal commitments inherent to the operation of the charity and under contracts ofemployment there were no contractual obligations to future expendilure at the balance sheet date. Where the trustees authorise expenditure which is not legally enforceable at the balance sheet dale the appropriate amounts are set aside inlo designat funds. Fund accounting Unreslricted 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 charily. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purEX)se of each fund is included in the notes to the financial statements. 2. Legal Status of the Clwrity 11]e charity is a company limited by guarantee and has no share capital. In the event of thc charity being wound up, the liability in respect of the guarantee is limited to £1 p¢r member of the charity.
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 NOTES TO THE Accouwrs CONTINUED FOR THE YEAR ENDED 3 1ST MARCH 2025 3. Donation4 Fundraising and other Voluntary Receipts UDrestriL%ed Restrict1 Funds 2025 Total 2024 Total General Donations 256 256 256 256 645 645 4. Grants Unrestricted Funds Restricted Funds 2025 Totsl 2024 Capiial Grant 5. Fee Income Unrestricted Funds Restricted Funds 2025 2024 Total Fees Registration fees Funded tees 11,504 11,504 11.919 158671 170 175 158671 170 175 150293 162 212 12-
CHADWELL PRE.SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 3 1ST MARCH 2025 6. Total ResourL%S Expended 2025 2024 Wages Pension Phone Printing, postsg¢ & stationcry Provisions Preschool equipm¢nt Travelling Repairs & renewals Sundry 'I'raining Accountancy Depreciation Rates, water & refuse Insurance Heat & light Entertainment Loss on disposal or rixed assets 141,933 2,625 752 3,909 2,391 1,466 131,384 2,345 627 3,692 2,061 1,430 5,490 130 276 990 3,116 2,661 2,164 4,280 704 4,176 98 335 960 3,116 3,361 2,023 5,778 223 172 888 161609 13
CHADWELL PRE.SCHOOL A COMPANY LIMED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST MARCH 2025 7. Staff Costs and Trustccs Remunerntion 2025 2024 Wages Pension Social Security Costs 121,540 2,625 111,615 2,345 144 558 133 729 No ¢mployee eam¢d £50000 p.a. or more. The averag¢ number of employees analysed by function was: 2025 2024 Support Managemeni & Athninistration No Remuneration was paid to the Trustees. 8. Net Incoming Resources 2025 2024 This is stated after charging Depreciation Loss on disposal of fixed assets Accountancy 3,116 3,116 990 960 14-
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 NOTES TO THE ACCOUNTS CONTtNUED FOR THE YEAR ENDED 3 1ST MARCH 2025 9. Tangible Fixed Assets Building & Improvement Land Equipment Total At I st April 2024 4,875 73,160 33,293 111,328 Additions Disposals At 3 1st March 2025 111328 ALxumulated At I st April 2024 2,442 47,605 33,266 83,313 Charge 122 2,994 3,116 Eliminated on disposal At 3 1st March 2025 Net Book Value At 31si March 2025 27 At 31 st March 2024 27 15
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 NOTES TO IHE ACCOUNTS CONTINUED FOR THE YEAR ENDED 3 1ST MARCH 2025 10. Debto 2025 2024 Prq)ayments 530 530 I l. CrlItors- amounts falling due within on¢ year 2025 2024 Other creditors and accruals Capital grant 3,827 3,568 12. Operating le&8e commitments The following operating lease payments are committed to be paid within one year: 2025 2024 Expiring: In mor¢ than five years 13. Analysis of Net Assets between Funds General Funds Restricted Funds Tangible fixed assets Net current assets / (liabilities) 14,235 696 10,664 24,899 16
CHADWELL PRE-SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHARITY NUMBER 1101239 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025 14. Movements in Funds At 1st April Incoming Outgoing 2024 ReSourS ReSoUrS At31st March 2025 Restricted Funds Capital Grant New Opportunities Fund 1,528 1,528 6,718 1,528 1,529 6,717 Unrestr1d Funds General Fund 170 595 172 123 171360 172 889 PutPO8e of Re8trict¢d Fund New Opportunitieslsure Start The money used is by Chadwell Pre-school and to support ongoing activities of the pre-school. Capital GTant A Capital Grant was received for use on outdoor play provisions. There are no designated funds. 17-
CHADWELL PRE.SCHOOL A COMPANY LIMITED BY GUARANTEE REGISTERED CHAIUTY NUMBER 1101239 NOTES TO THE ACCOUNTS CONTtNUED FOR THE YEAR ENDED 31ST MARCH 2025 15. Coatingent liabilities and contracted comllutments At 31 st March 2025 in the opinion of the Trustees the Company had no contingent liabilities and no contractual commitmcnts. 16. sha Capitsl The company is limited by guarantee. The liability of each member is limited to £1. Th¢ number of members at 3 1st March 2025 is 2 (2024: 2). 17. T&uaiion Taxation As a charity, Chadwell Pre-school is exempt on income and gains falling within section 466- 493 of the Corporations Tax Act 20 R O to the extent that these are derived from its chariiable activities. No lax charges arose on the ordinary activities for the year ended 31° March 2025. Value Added Tax Value added tax is not recoverable by the charity, and as such is included as part of the relevant Losts in the Statement of Financial Activities. 18. R¢lated Parties There were no related party transactions in the period under review that require disclosure in the financial statements. 19. Capitsl Commilments There were no capital commitments pmvided for in the financial statements for the year ended 31 March 2025 (2024: Nil). 18-