2023-08-31-accounts

Unaudited Financial Statements for the Year Ended 31 August 2023

for

The Trustees of the Pool House Under 5s Nursery

The Trustees of the Pool House Under 5s Nursery

Contents of the Financial Statements for the Year Ended 31 August 2023

	Page
General Information	1
Accountants' Report and Client Approval
Certificate	2
Trading and Profit and Loss Account	3
Balance Sheet	4
Notes to the Financial Statements	5

The Trustees of the Pool House Under 5s Nursery

General Information

for the Year Ended 31 August 2023

PROPRIETOR:

Mrs J Cole for the trust

ADDRESS:

Ingol Pool House School Kidsgrove Ingol PRESTON Lancashire PR2 7BX

ACCOUNTANTS:

Stewart Meggs 22 Badgers Walk East LYTHAM ST ANNES Lancashire FY8 4BS

BANKERS: Royal Bank of Scotland 97 Fishergate PRESTON Lancashire PR1 2DP

Page 1

Financial Statements

for the Year Ended 31 August 2023

Accountants' Report to

The Trustees of the Pool House Under 5s

Nursery

In accordance with instructions given to us we have prepared without carrying out an audit the annexed financial statements from the accounting records of The Trustees of the Pool House Under 5s Nursery and from information and explanations supplied to us.

Stewart Meggs 22 Badgers Walk East LYTHAM ST ANNES Lancashire FY8 4BS

18 January 2024

Client Approval Certificate

I approve the financial statements and confirm that I have made available all relevant records and information for their preparation.

Mrs J Cole for the trust

18 January 2024

Page 2

The Trustees of the Pool House Under 5s Nursery

Trading and Profit and Loss Account for the Year Ended 31 August 2023

Income Income - fees Income - wrap Income - snacks Income - dinners Cost of sales Purchases - snacks Dinners Fees refund GROSS PROFIT Other income Fundraising Miscellaneous income Other grants Government grants - LCC Deposit account interest Expenditure Wages Premises and fees Training Administration Office consumables Education resources Miscellaneous External/internal activities Accountancy Finance costs Bank charges NET (LOSS)/PROFIT	31.8.23 £ £ 14,017 6,982 2,276 4,505 27,780 839 4,648 67 5,554 22,226 1,866 434 4,044 97,637 891 104,872 127,098 90,037 12,912 500 10,012 - 11,100 1,966 990 100 127,617 (519) - (519)	31.8.22 £ £ 10,240 5,994 2,163 - 18,397 1,366 1,818 671 3,855 14,542 2,371 120 2,539 109,814 34 114,878 129,420 89,511 10,232 496 4,500 1,064 1,851 1,811 1,088 100 110,653 18,767 18 18,749	31.8.22 £ £ 10,240 5,994 2,163 - 18,397 1,366 1,818 671 3,855 14,542 2,371 120 2,539 109,814 34 114,878 129,420 89,511 10,232 496 4,500 1,064 1,851 1,811 1,088 100 110,653 18,767 18 18,749
			14,542 114,878
			129,420 110,653
			18,767 18
			18,749

Page 3

The Trustees of the Pool House Under 5s Nursery

Balance Sheet 31 August 2023 Notes CURRENT ASSETS Other debtors Prepayments and accrued income Bank deposit account Bank account RBS 10158412 Cash in hand CURRENT LIABILITIES Accruals and deferred income NET ASSETS FINANCED BY LONG TERM LIABILITIES Loans CAPITAL ACCOUNT 3	31.8.23 £ - 2,720 85,803 7,524 134 96,181 44,396	£ 51,785 51,785 12,500 39,285 51,785	31.8.22 £ 800 23 84,269 3,419 - 88,511 36,208	£ 52,303
				52,303
				12,500 39,803
				52,303

Page 4

The Trustees of the Pool House Under 5s Nursery

Notes to the Financial Statements for the Year Ended 31 August 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been compiled on a basis which enables profits to be calculated in accordance with generally accepted accounting practice and which provides sufficient and relevant information to enable the completion of a tax return.

2. TRUSTEES ANNUAL REPORT

Charity Commission Registered Number 1103507

Trustees: Mrs J Cole Chair & Nursery Secretary Mr M Baldwin Treasurer & Executive Secretary Mr P Mearns Mrs S Parkinson

STRUCTURE and GOVERNANCE

The nursery is run by several nursery staff, managed on a day-to-day by the nursery manager. The nursery manager reports to the nursery's duly authorised person who in turn reports to the Executive Committee that includes the trustees listed above. The nursery operates in line with several policy documents and the nursery constitution.

The trustees are proposed, seconded and elected at each of the annual general meetings.

There is no specific reserves policy in place.

STATEMENT on VAT

This statement outlines the argument for Pool House Under-5's Nursery Group not to register for VAT if annual sales are over £85,000. This is based on the premise that the Nursery Education Grant received from the Lancashire County Council is outside the scope of VAT as no service is provided to the Council in return for receiving the grant.

HM Revenue & Customs VAT Notice 701/1 - Section 5.10 (Grant Funding) states: "Charities often receive funding to support their charitable activities. If funding is given freely, with nothing supplied in return, then no VAT is due as the funding is not considered for any supply and is therefore outside the scope of VAT."

A covering letter from Jill Ormesher of Lancashire County Council dated 16 March 2009 when making payment of the grant refers to the Revenue Funding Agreement entered into between the LCC and the Nursery in that Section 7.31 states that the nursery: "Not require parents to pay any fee for their child's free nursery education place, nor can parents be expected to take up or pay for any additional services as a condition of a child attending a free nursery education place."

Page 5

The Trustees of the Pool House Under 5s Nursery

Notes to the Financial Statements for the Year Ended 31 August 2023

1. CAPITAL ACCOUNT

CAPITAL ACCOUNT
Brought forward Add Net profit Capital introduced Less Drawings Net loss	31.8.23 £ 39,803 - 1 39,804 - 519 519	£ 39,285 39,285	31.8.22 £ 21,055 18,749 - 39,804 1 - 1	£ 39,803
				39,803

Page 6