2024-08-31-accounts - Intake Pre-School

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

Intake Pre-school

(Charity Number 1107400)

(Company Ltd by Guarantee Number 05235498)

Financial Statements

for the year ended 31 August 2024

Contents	Page
Legal and administrative information	2
Trustees' report	3-4
Examiner's report	5
Statement of financial activities	6
Balance sheet	7
Notes to the accounts	8-10

Intake Pre-school Legal and administrative information

Trustees

Rebecca Horrabine Carli Murten Jessica Baxter (appointed 14 August 2024) Emily Brownell (appointed 14 August 2024) Daniel White

Registered Office

Intake Pre-School Sharrard Drive Sheffield S12 2FB

Company number 05235498

Registered Charity number

1107400

Independent Examiner

Craig Williamson White Rose Accounting for Charities The Ghyll Threapland Aspatria CA7 2EL

Bank

Unity Trust Bank Nine Brindleyplace Birmingham B1 2HB

Intake Pre-school

Trustees' report

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report and financial statements for the year ended 31 August 2024.

Structure, governance and management

The Charity is operated under the rules of its Memorandum and Articles of Association. It is a private company limited by guarantee and was incorporated on 20 September 2004. It is also a charity, and was registered 22 December 2004.

Overall management is the responsibility of the trustees who are elected and co-opted under the terms of the memorandum and articles. Day to day project activity is managed and carried out by paid staff.

New trustees are appointed by majority decision of the board. In doing so, the board seeks to ensure that an appropriate level of parent representation on the board is maintained.

Objectives and activities

These are to enhance the development and education of children under statutory school age by:

offering appropriate play, education and care facilities
encouraging the study of the needs of such children, and
instigating and adhering to and furthering the aims and objects of the Pre-school Learning Alliance

The company provides sessional care in accordance with Ofsted regulations, delivered under the direction of qualified and experienced staff.

In setting out the basic ground rules for admissions and activities, the directors have had regard to the Charity Commission's guidance on Public Benefit.

Achievements and performance

2024 was another very good year for the preschool. The preschool is operating at full capacity and demand remains strong, with many sessions for the upcoming academic year already fully booked. The quality of care and education provided to our children remains our key priority and we continue to invest to improve the experience of our pupils. Inflationary pressures have continued to impact the charity this year, but this has been offset to some extent by an increase in funding levels, and we continue to strive to keep our prices as low as possible. The balance sheet remains strong with no external financial liabilities.

Intake Pre-school Trustees' report

Financial review

During the year, the charity generated net incoming resources of £23,526 (2023: £17,818). Total funds carried forward were £483,090 (2023: £459,564).

Reserves policy

The directors have decided that reserves should be developed and maintained at a level which ensures that the company's core activity could continue during a period of unforseen difficulty, and that a proportion of the reserves should be in a ready realisable form.

Trustees responsibilities for the financial statements

Company and charity law requires the trustees to prepare financial statements for each financial period which show the state of affairs of the charity and of net income or expenditure of the charity for that period. In preparing those financial statements, the Trustees are required to:

select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP FRS (102);
make judgements and estimates that are reasonable and prudent.
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
state whether applicable accounting standards of recommended practice have been followed subject to any departures disclosed and explained in the financial statements.

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable the Trustees to prepare financial statements. The Trustees

are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities.

This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

This report was approved by the Trustees on 30 May 2025 and is signed on their behalf by:

Daniel White Chairman

Intake Pr••School Independent Examinefs report on the Accounts of Intake Prew5chool for the year ended 31 August 2024 I report on the accounts of the company for the year ended 31 Aygust 2024, which are Set out on pages 6 to 9. Respgctlve responslbilltles of trust908 and examiner The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit 18 not required for this year under 144{2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it Is my responsibility to: examine the accounts under section 145 of the 2011 Act. to follow the procedures laid down in the general Directions given by the Charity Commission under section 145 {5){b) of the 2011 Act. and to state whether particular matters have come to my attention. 8as18 of Indapendent gxamlnorfs report My examination was carried 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 the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees 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 the accounts present a 'true and f8ir view, and the report is limited to those matters set out in the ststement below. Independent examlner'8 statement In connection with my examination, no matter has come to my attention.. (1) which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance wlth section 386 of the Companies Act 2006., and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Acl 2006 and with the methods and principles of the Statement of Recommended Practice.. Accounting and Reporting by Charities have not been met. or (2) to which, in my opinion, attention should be drawn in order to enable a proper understsnding of the acco eached. Signed.. Craig Williamson White Rose Accounting for Charities The Ghyll Threapland Aspatria CA7 2EL Date..

Intake Pre-school Statement of Financial Activities (incorporating Income & Expenditure account) for the year ended 31 August 2024

Notes Incoming resources Grants 3 Fees and other funding Finance income Other income Total Incoming resources Resources expended Staff costs Premises costs Resources Training School trip Bank charges Registration & membership fees Accountancy Professional fees Loan interest Depreciation Other expenditure Total resources expended Net (outgoing)/incoming resources Total funds brought forward Total funds carried forward	Restricted Funds £ - 7,818 - - 7,818 7,818 - - - - - - - - - 10,900 - 18,718 (10,900) 203,000 192,100	Unrestricted Funds £ 264,487 60,366 838 9,405 335,095 234,052 20,642 33,397 1,779 354 566 198 175 4,580 - 4,879 47 300,668 34,426 256,564 290,990	Total 2024 £ 264,487 68,184 838 9,405 342,913 241,870 20,642 33,397 1,779 354 566 198 175 4,580 - 15,779 47 319,386 23,526 459,564 483,090	Total 2023 £ 212,855 68,104 - 16,214 297,173 213,377 24,047 16,902 2,385 390 582 35 150 4,045 983 15,779 680 279,355 17,818 441,746 459,564

Intake Pre-school

Balance Sheet as at 31 August 2024

Notes Fixed Assets 5 Current assets Balance at bank Total current assets Creditors: amounts falling due within one year 2 Net current assets/(liabilities) Total assets less current liabilities Total net assets Represented By Funds Unrestricted funds 6 Restricted funds	2024 £ 284,873 254,752 254,752 (56,535) 198,217 483,090 483,090 290,990 192,100 483,090	2023 £ 300,652 203,941 203,941 (45,029) 158,912 459,564 459,564 256,564 203,000 459,564

For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities;

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements are approved by the Board on 30 May 2025 and signed on its behalf by:

Daniel White Chair

Intake Pre-school

Notes to the financial statements

for the year ended 31 August 2024

1 Accounting Policies

(a) Basis of preparation

The financial statements have been prepared in accordance with 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 (FRS102) and the Companies Act (2006)

The Charity meets the definition of a public benefit entity as defined under FRS102.

(b) Donations and fund accounting

Donations received for the general purposes of the charity are included as unrestricted funds

(c) Resources expended

Expenditure is included on an accruals basis.

(d) Unrestricted funds are donations and other income receivable or generated for the objects of the organisation without further specified purpose and are available as general funds.
(e) Restricted funds are to be used for specific purposes as laid down by the donor.

(f) Fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets, other than freehold land, over their expected useful lives, using the straight-line method. The rates applicable are:

Land and buildings - 10-25 years

2 Creditors; amounts falling due within one year

These are expenses that have been incurred but have not been billed or paid for during the accounting period. They are in respect of:

==> picture [349 x 61] intentionally omitted <==

----- Start of picture text -----
2024 2023
£ £
Deferred income 56,360 44,879
Accruals 175 150
56,535 45,029
----- End of picture text -----

Amounts shown under loans payable are secured by a charge over the charity's land and buildings

3 Grants Unrestricted: Sheffield City Council- Nursery Education Grant Movement in restricted funds Brought Forward Department for Education 170,400 South Yorkshire Key Fund 27,600 Awards for All 5,000 Early Years Inclusion - 203,000	2024 £ 264,487 264,487 Incoming resources - - - 7,818 -	2023 £ 212,855 212,855 Resources expended (8,520) (1,380) (1,000) (7,818) (18,718)	At as 31 August 2024 161,880 26,220 4,000 - 192,100

South Yorkshire Key Fund and Department for Education represents funding towards the construction of new premises for the pre-school.

Awards for All represents funding for new outdoor play equipment

Early Years Inclusion relates to top up funding received to enable preschool to enhance staffing rations for children with additional needs.

Intake Pre-school

Notes to the financial statements

for the year ended 31 August 2024

4 Staff numbers and costs:-

Wages and salaries Pensions	2024 £ 233,645 8,225 241,870	2023 £ 206,303 7,074 213,377

The average number of monthly employees was 16 (2023:16) No employees received emoluments in excess of £60,000 per year.

During the year trustees Rebecca Horrabine recevied remuneration of £12,325 (2023: £11,266) received remuneration as an employee of the preschool.

No trustees received reimbursement of out-of-pocket expenses.

5 Tangible Fixed Assets

Cost As at 1 September 2023 Additions Disposals As at 31 August 2024 Accumulated depreciation As at 1 September 2023 Charge for the year As at 31 August 2024 As at 1 September 2023 As at 31 August 2024	Land and buildings £ 379,475 - - 379,475 78,823 15,779 94,602 300,652 284,873	Total £ 379,475 - - 379,475 78,823 15,779 94,602 300,652 284,873

6 Analysis of net assets between funds

Fund balances at 31 August 2024 were represented by: Tangible fixed assets Current assets Creditors due within one year Total net assets	Unrestricted 92,773 254,752 (56,535) 290,990	Restricted 192,100 - - 192,100	Total 284,873 254,752 (56,535) 483,090

Intake Pre-school

Notes to the financial statements

for the year ended 31 August 2024

7 Deferred income

Amounts brought forward Amounts deferred during the year Amounts released to income Deferred income carried forward	2024 £ 44,879 56,360 (44,879) 56,360

Deferred income relates to Department For Education funding received during August 2024 which related to the following academic year.

8 Related party transactions

There have been no related party transactions in the reporting period that require disclosure.