REGISTERED COMPANY NUMBER: 04977468 (England and Wales} REGISTERED CHARITY NUMBER: 1103864 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 FOR WINDMILLS PRESCHOOL LIMITED Garbett5 IIOWI Limited Exchange House St Cross Lane Newport Isle of Wight P030 5BZ
WINDMILLS PRESCHOOL LIMITED CONTENTS OFTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balath¢e Sheet Notes to the Hnanclal Statements 9 to 15
WINDMILLS PRESCHOOL LIMITED (REGISTERED NUMBER.. 04977468) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024 The trustees who are also directors of the charity for the pu rposes of the Compa nies Act 2006, present their report with the financial statement5 of the charity for the year ended 31 July 2024. The trustees have adopted the provision5 of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive l January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims The charity offers appropriate play, education and care facilitie5 and training courses together with the right of parents to take responsibility for and become involved in activities such as groups. The aim of the charity is to ensure that all children from all races, culture, religion and means of ability are seeing the benefit of the aims and objectives set by the Pre-school Learning Alliance, Page I
WINDMILLS PRESCHOOL LIMITED (REGISTERED NUMBER.. 04977468) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024 ACHIEVEMENT AND PERFORMANCE Charitable artivltles The directors of the preschool present their report on another busy year. Patterns of Children in attendance increased again year on year, and staffin8 rat105 continue to exceed the statutory requirements. Windmills continues to provide the only preschool service in the village, working alongside local OFSTED-Registered childminders. The directors supply an active and supportive role within the setting alongside the manager and senior lead team. The preschool continued to successfully react to the cliallenges presented by the statutory changes, supporting families and extending team knowledge via additional trainin8. ChallenBe5 surrounding a backlog in multia8ency support including speech & language, social & emotional development, resilience & attachment continued to inform additional training needs for the academic year. The preschool continued to implement initiatives from the Development Plan,. the setting reflected on & adjusted the curriculum statement to ensure it continued to embody the nurturing ethos of the preschool & to inform how the Early Years framework will be delivered going forward. The preschool f ront garden received much needed attention and was developed as an additional play space with specific emphasis on messy play & natural environments. This included the addition of mud kitchens, a bark floor & sensory pebble area to accompany the 83rden tubs & plants. Following a successful bid in October 2023, th3nks to the Parish Council's "Community Chest" this front garden area was f ully secured with a new high fully bolted gate, making this area into 3 play space rather than a walkway. The preschool continues to fulf Ill robust plans for enhanced provision and is preparing for the Autumn 24 Community Chest bid where we hope to fund Monkey Bars for the back garden. Successful safer recrultment contlnued to malntaSn the quallty and speclallst knowledge wlthln the staff team; a full tlme Room Lead post was taken up by an existing staff member on the resignation of the part time Deputy Manager. Retirement of the speech & language lead prompted recruitment of additional staff & a transfer of this pivotal role to an experienced existing staff member with two new early vears practitioners recruited to back fill. The preschool 15 also planning to purchase a speech and language resource, Wellcomm. which enable5 keyworker5 to triage their children at specific stages in their development. A rolling review of policies in relation to the updated statutory f ramework was undertaken. Training needs for the staff team continued both virtuallv & face to face. Al l statutory training was updated, as was EYFS training. The new EYFS framework, September 23 was graduallv embedded Sn the curriculum throughout the year. Our student mentorlng conllnued for a Level 2 placement studylng at the local college. The annual safeguardin8 audit w35 completed with minimal action point5. We continue to canvass parents & written and verbal parent feedback was positive throughout the yéar. Windmi Ils continued to see a rise in familiès ac¢essing the 30 hour extended funding. The preschool is fully proficient in advising parents regarding variou5 fundins options through the Childcare Choices government web51te. As a result of its "Good" in all area5 OFSTED grading achieved in June 23, Windmills continues to be able to offer two-year-old funded places, subject to eligibilitv. Wlndmi1151s fully prepared for the new 2 year fundlng for worklng parents whlch is due tu be Implemented September 24. Windmills continued to operate a Brea kfast Club on behalf of the adjacent Primary School. As in previous years, any small losses incurred with the running of this Service are mitigated by the continued affordable rent charges from the primary school. Building on our knowledge and practice of the EYFS statutory requirements, the preschool continued its focu5 on expertise in referrals for a variety of interventions including Speech & Langua8e, Early Health & Care Plan5, and Early Help. Trauma Informed Training alongside Emotional Regulation & Attachment courses & Speech & Language have continued to be a strong focus throughout thi5 year. The preschool manager completed a Level 3 early years SENCO course & attended the county Early years conference with the deputy SENCO which focused on Neurodiversity. The preschool continues to partner with the adjacent primary school to ensure all Page 2
WINDMILLS PRESCHOOL LIMITED (REGISTERED NUMBER.. 04977468) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024 children and their familie5 are well equipped for transition between the setting5. The preschool's family-focused approach ha5 strengthened partnerships using a combination of virtual & face to face tools with various Trusts, the NHS and local authoritv groups, which provide appropriate Support for the children. Windrni11s is now a community champion for Barnardos offering multiagency support to our families. The senior lead tearn appraise themselves of development5 at county level by attendin8 termly Early Years briefings & the local annual Early Years Conference. Capable experienced management, combined with a team committed to ongoing professional development, means excellent outcome5 for the children, A full awareness of the menta I health Iinpact of Covid-19 has inforrned stalf discussion and traini ng around children's mental health and wellbeing, attachment and resilience, developmental delay & trauma. Our "Educate Play Learn" message continues to ref lect our ethos. Parents continue to be kept informed about the weekly activities and learning focus via the preschool's Facebook page and via their personal secure access to the Tapestry portal. The profile of the preschool in the cornmunity is strong, Stay and Play/Settling-in sessions for newly registered children continue all year round. Prospective families are welcorned into setting to explore the environment & meet the team. These initiatives help children and parents to familiarise themselves prior to starting preschool. Regular monthly visits to our intergenerational partners at the local care home took place & we were able to visit our local RNLI station thanks lo the F¢NLI educational team. Visits to the park, our villa8e library & local shops also enrich the children's experierbces. The fundraising calendar for 2023-24 proceeded unhindered. Plans are in place to bid for funds irb Autumn 24 to encourage gross motor skills & proprioceptive input with the purchase ol a large set of monkey bars via the annual Community Chesl" process. The preschool children entered the annual Bernbridge Village Star competition in December 2023 with rhe theme of "festive foliage. The preschool continues to ensure its sustainability via the Annual Review. The Development plan is reviewed regularly to reflect progress and to facilitate forward planning. Fees have been reappraised and increased in line with the increasing staff costs associated with the annual minimum wage uplift, Activities and materials costs have risen steadily in line with the increased number of children, The preschool operating c05t5 have a150 increased proportionately with the rise in child numbers. Statutorv staffing ratios mean5 even more qualif led personnel were needed daily. The directors are reviewing the renewal of the license with the primary school to use the premises (due 1st September 20241 and this agreement has been ratified in readiness for the new academlc year. The preschool was deli&hted to host a full summer Graduation celebration, with children & their familie5 in setting,. the school leavers were presented with gifts and a school book bag by the new primary school he2dteacher. End of year transition meetings were held with the new Reception teacher to appraise each school leaver as part of a larger robust transition process. Transition Partnership agreements with the receiving schoo15 were actioned where need had been identif led. At the end of the academic year 2024, Windmllls ha5 a secure partnershlp with the new prlmary School senlor ieèm, has strong support from the Prlmary School and its governors, and the Dlrectors continue to work together to secure the educatlonal future of children aged two to four in the locality. FINANCIAL REVIEW Results for the year Total incoming resource5 for the year amounted to £143,78412023'. £124,783) includin8 £238 of restricted grant income and resources expended for the year amounted to £138,380,12D23: £121,818). The surplus for the year amounted to E5,404,12023.' £2,965). It 15 the policy of the preschool to hold in reserves the equivalent of one month's Salary cost5. Page 3
WINDMILLS PRESCHOOL LIMITED (REGISTERED NUMBER.. 04977468) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity 15 controlled by its governing document, a deed of trust, and constitutes a limited company* limited by guarantee, a5 defined by the Companies Act 2006. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 04977468 IEngland and Wales) Reglstered Charlty number 1103864 Registered office Preschool Unit Walls Road 8embridge Isle of Wight P035 5RH Trustees Mrs R E Clark Mrs J Brlggs MrTJ Vincent Mrs H R 8ailev Company Secretary Mr P B Collyer Independent Examlner Garbetts IIOWI Limited Exchange House St Cross Lane Newport Isle of Wight P030 5BZ Thls report has been prepared In accordance wlth the speclal provlsions of Part 15 of the Companles Act 2006 relatin8 to small companies. Approved by order of the board of trustees on 22 April 2025 and signed on its behalf bv: Mrs R E Clark - Trustee Page 4
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF WINDMILLS PRESCHOOL LIMITED Independent examiner's report to the trustees of Windmills Preschool Limited I'the Companv,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2024. Responslbllltles and basls of report A5 the ¢harity'5 trustees of the Company land also Its directors for the pvrp05es of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having 5at15fied myself that the account5 of the Company are not reouired to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charitv Commission under Section 145151 Ibl of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act,. or the accounts do not accord with those records; or the accounts do not comply wlth the accountin8 requlrements of Sectlon 396 of the 2006 Act other than any requlrement 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 accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and 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 understandin8 of the accounts to be reached. M Paxton F.C.C.A. Garbetts IIOWI Limited Exchange House St Cross Lane Newport 151e of Wight P030 5BZ Date.. Page 5
WINDMILLS PRESCHOOL LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024 2024 Total f unds 2023 Tot31 funds Unrestricted Fund Re5trirted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 238 238 268 Charitable actlvltlÉs Childcare SeNices 142,746 142,746 124,127 Other trading activities I nvestment income Total 257 543 143 546 257 543 143 784 80 308 124 783 238 EXPENDITURE ON Charitable activities Childcare Services 138,377 138,377 121,818 Other Total 138,380 138,380 121,818 NET INCOME Transfers between funds Net movement In funds 5,166 238 5,404 238 2381 5,404 2,965 12 5,404 2,965 RECONCILIATION OF FUNDS Total funds brought forward 26,229 41 26,270 23,305 TOTAL FUNDS CARRIED FORWARD 41 The notes form part of these financial statements Page 6
WINDMILLS PRESCHOOL LIMITED (REGISTERED NUMBER.. 04977468) BALANCE SHEET 31 JULY 2024 2024 Total f unds 2023 Tot31 funds Unrestricted Fund Re5trirted funds Notes FIXED ASSETS Tangible assets 1,824 1,824 2,564 CURRENT ASSETS Debtors Cashat bank and in hand 558 558 41 41 43,057 43,098 37,358 CREDITORS Amounts falling due within one year io 113,2481 113,248 113,6521 NEf CURRENT ASSETS 29,809 41 29,850 23,706 TOTAL ASSETS LESS CURRENT LIABILITIES 31,633 41 31,674 26,270 NEf ASSETS FUNDS UnresLricted funds Restricted funds TOTAL FUNDS 41 12 31,633 41 26,229 41 The charitable company is entitled to exemption from audit u nder Section 477 of the Companies Act 2006 for the year ended 31 July 2024. The members have not requi red the company to obtain an audit of its financial statement5 for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for lal ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companie5 Act 2006 and preparing financial statement5 which give a true and fair view of the State of affairs of the charitable company a5 at the end of each f inancial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requlrements of the Companies Act 2006 relating to financial statements, so far as appllcable to the charitable companv. Ibl The notes form part of these financial statements Page 7 continued...
WINDMILLS PRESCHOOL LIMITED (REGISTERED NUMBER.. 04977468) BALANCE SHEET- continued 31 JULY 2024 These financial statements have been prepared in accordance with the provision5 applicable to charitable companies subject to the small companie5 regime. The financial statement5 were approved by the Board of Trustees and authorised for issue on 22 April 2025 and were si8ned on its behalf by= Mrs R E Clark - Trustee The notes form part of these financial statements Page 8
WINDMILLS PRESCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 ACCOUNTING POLICIES Basis of preparing the financial ststements The financial Statements of the charitable company, which 15 a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS IQ21 (effective l January 20191,, Financial Reporting Standard 102 'fhe Financi21 Reporting Standard applicable in the U K and Republic of Ireland, and the Companies Act 2006. The f inancial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activitie5 once the charity has entitlement to the f unds, it is probable that the income will be received and the amount can be measured reliably. Expendlture Liabilities are recognised as expencliture as 500n as there is a legal or constructive obligation committing the charity to that expenditure, It Is probable that a tr3n5fer of economic beneflts w511 be required in settlement and the arnount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all c05t related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tanglble fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixture5 and fittings Computer equipment 20Yo on cost 25% on cost TaxatlDn The charity is exempt from corporation tax on it5 charitable activities. Fund accountini Unrestricted 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 charity. Restrictions arise when speclfled by rhe donor or when funds are raI5ed for partlcular restrlcred purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 9 continued...
WINDMILLS PRESCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 JULY 2024 OTHER TRADING ACTIVITIES 2024 2023 Fundraising events 257 80 INVESTMENT IfrJCOME 2024 2023 Bank interest received 543 308 NEf INCOMEIIEXPENDITUREI Net incomellexpenditurel 15 Stated after charBing/lcreditingl'. 2024 2023 Depreclatior) - owned assets TRU5TEE5' REMUNERATION AND 8ENEFIT5 Mrs R E Clark, a trustee of Windmills Preschool Limited, was paid £13,46112023,, £12,646) in respect of administration services. Trustees, expenses There were no Irustees, expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023. STAFF COST5 The avera8e monthly number of employees durin8 the year was as follows.. 2024 13 2023 12 Childcare services No employees received emoluments in excess of £60,000. Pa8e 10 continued...
WINDMILLS PRESCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 JULY 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES Unrestricted fund Restricted fund5 Total fund5 INCOME AND ENDOWMENTS FROM Donations and legacies 68 200 268 Charitable attivities Childcare Service5 124,127 124,127 Other trading activities Investment income Total 80 308 124,583 80 308 124,783 200 EXPENDITURE ON Charitable attivities Childcjre Service) 121,818 121,818 NET INCOME Transfers between funds Net movement In funds 2,765 359 3,124 200 3591 11591 2,965 2,965 RECONCILIATION OF FUNDS Total funds brought forward 23,105 200 23,305 TOTAL FUNDS CARRIED FORWARD 41 Pa8e 11 continued...
WINDMILLS PRESCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 JULY 2024 TANGIBLE FIXED ASSETS Fixtures and f ittin85 Computer equipment Tota15 COST At l August 2023 AdditiDns At 311uly 2024 DEPRECIATION At l August 2023 Charge for year At 31 July 2024 NET BOOK VALUE At 31 July 2024 At 311uly 2023 8,084 1,092 134 8,218 1,092 134 5,520 1,832 7,352 134 5,654 1,832 7,486 134 DEBTORS: AMOLINTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors 558 io. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Social security and other taxes Other creditors Accrued expense5 959 24 903 Pa8e 12 continued...
WINDMILLS PRESCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 JULY 2024 ii. LEASING AGREEMENTS Minimum lease payment5 under non-cancellable operating leases fall due as follows.. 2024 2023 Within one year Between one and five years 125 i.soo 125 125 12. MOVEMENT IN FUNDS Net movement in f unds Transfers between funds At 31.7.24 At 1.8.23 Unrestrirted funds General fund 26,229 5,166 238 31,633 Restrirted funds Nursery Equipment Fund 41 238 1238) 41 TOTAL FUNDS Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlrted funds General fund 143,546 1138,3801 5,166 Restricted funds Nursery Equipment Fund 238 238 TOTAL FUNDS 143 784 138 3801 Pa8e 13 continued...
WINDMILLS PRESCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 JULY 2024 12. MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in f unds Transfers between funds At 31.7.23 At 1.8.22 Unrestricted funds General fund 23,105 2,765 359 26,229 Restrlrted funds Nursery Equipment Fund 200 200 1359) 41 TOTAL FUNDS Comparative net movement in funds, included in the above are as follow5; Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 124,583 1121,8181 2.765 Restricted funds Nursery Equipment Fund 200 200 TOTAL FUNDS 124 783 1218181 A current year 12 months and prior year 12 months Combined p051tion is as follows: Net movement in f unds Transfers between funds At 31.7.24 At 1.8.22 Unrestricted funds General fund 23,105 7,931 597 31,633 Restrlcted funds Nursery Equipment Fund 200 438 15971 41 TOTAL FUNDS Pa8e 14 continued...
WINDMILLS PRESCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 JULY 2024 12. MOVEMENT IN FUNDS- continued A current year 12 month5 and prior year 12 months CDmbined net movement in funds, included in the above are as follows: Incoming re50urce5 Resource5 expended Movement in funds Unrestritted funds General fund 268,129 1260,1981 7,931 Re5tritted funds Nursery Equipment Fund 438 438 TOTAL FUNDS 268 567 260 1981 Restrlrted Funds 8embridge Parish Council gave £238 to the preschool from its Dragon's Den funding to be used on a new gate. 13. RELATED PARTY DISCLOSURES There were no related party transactions tor the year ended 31 July 2024. 14. GOING CONCERN The directors consider that there are no material uncertainties that would cast significant doubt on the ability of the preschool to continue as a going concern. Pa8e 15
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