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 3. **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