Unaudited Financial Statements for the Year Ended 31 Au ust 2024 for The Trustees of the Pool House Under 5s Nurse The Trustees of the Pool House Under 5$ Nurse Contents of the Financial Statement8 for the Year Ended 31 Au ust 2024 Page General Infonnation Accountants, Report and Client Approval Certificate Trading and Profit and Loss Account Balance Sheet Notes to the Financial Statements The Trustees of the Pool House Under 5s Nurse General Infonnation for the Year Ended 31 Au ust 2024 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 LYfHAM ST ANNES Lancashire FY8 4BS BANKERS: Royal Bank of Scotland 97 Fishergate PRESTON Lancashire PR12DP Page 1 Financial Statements for the Year Ended 31 Au ust 2024 Accountants, Re ortto The Trustees of the Pool House Under 5s Nurse 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 17 January 2025 Client A roval Certificate l 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 17 January 2025 Page 2 The Trustees of the Pool House Under 5s Nurse Tradin and Profit and Loss Account for the Year Ended 31 Au ust 2024 31.8.24 31.8.23 Income Income - fees Income - wrap Income - snacks Income - dinners 8,988 8,357 2,151 5,721 14,017 6,982 2,276 4,505 25.217 27,780 Cost of sales Purchases - snacks Dinners Fees refund 1,387 5,721 386 839 4,648 67 7,494 5,554 GROSS PROFIT 17,723 22,226 Other Incomo Fundraising Miscellaneous income Other grants Government grants - LCC Deposit account interest 1,422 220 3.981 131,458 1,645 1,866 434 4,044 97,637 891 138,726 104,872 156,449 127,098 Expendlture Wages Premises and fees Training Supply Administration Education resources Miscellaneous Externallinternal activities Accountancy 120,363 3,354 90,037 12,912 500 1,921 10,532 4,088 3,483 715 100 10,012 11,100 1,966 990 100 144,556 127,617 NET PROFITI(LOSS) 11,893 (519) Page 3 The Trustees of the Pool House Under 5s Nurse Balance Sheet 31Au ust 2024 31.8.24 31.8.23 Notes CURRENT ASSETS Loan D Bryson Loan K Garth Prepayments and accrued income Bank deposit account Bank account RBS 10158412 Cash in hand 400 350 2,305 155,691 3,741 2,720 85,803 7,524 134 162,487 96,181 CURRENT LIABILITIES Accruals and deferred income Deferred government grants 59,258 39,553 44,396 98,811 44,396 63,676 51,785 NET ASSETS 63,676 51,785 FINANCED BY LONG TERM LIABILITIES Loans 12,500 12,500 CAPITAL ACCOUNT 51,176 39,285 63,676 51,785 Page 4 The Trustees of the Pool House Under 5s Nurse Notes to the Financial Statements for the Year Ended 31 Au ust 2024 ACCOUNTING POLICIES Basis of preparing the flnancial 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 complelion of a tax return. TRUSTEES ANNUAL REPORT Charity Commission Registered Number 1103507 Trustees: Mrs J Cole Mr M Baldwin Mr P Mearns Mrs S Parkinson Chair & Nursery Secretary Treasurer & Executive Secretary 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 70111- 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 18 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 Agreemenl 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 free nursery education place." Page 5 The Trustees of the Pool House Under 5s Nurse Notes to the Financial Statements for the Year Ended 31 Au ust 2024 CAPITAL ACCOUNT 31.8.24 31.8.23 Brought fonNard Add Net profit Capital introduced 39,285 39,803 11,893 51,178 39,804 Less Drawings Net loss 519 519 51,176 39,285 51,176 39,285 Page 6