REGISTERED COMPANY NUMBER: 05230651 (England and Wales) REGISTERED CHARITY NUMBER: 1107414
Report of the Trustees and
Financial Statements
for the Year Ended 31st August 2021
for
BOVINGDON PRE-SCHOOL
Attenboroughs (Accountants) Limited Chartered Certified Accountants
1 Tower House Tower Centre Hoddesdon Hertfordshire EN11 8UR
BOVINGDON PRE-SCHOOL
Contents of the Financial Statements for the year ended 31st August 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 13 |
| Detailed Statement of Financial Activities | 14 | to | 15 |
BOVINGDON PRE-SCHOOL
Report of the Trustees for the year ended 31st August 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st August 2021. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Bovington Pre-School is a charity whose aims are:
-
To enhance the development and education of children under statutory school age in a parent-involving,
-
- community based group.
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To provide a safe, secure and stimulating environment.
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To work within a framework which ensures equality of opportunity for all children and families.
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To encourage children to be independent and have fun and friendship with children and other adults.
Public benefit
The charity acknowledges its requirements to demonstrate clearly that it must have charitable purposes or aims that are for the public benefit. The charity has referred to guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning future activities.
Volunteers
Volunteers continue to play an important role in the day-to-day running of the Pre-School and organising fund raising events.
FINANCIAL REVIEW
Financial position
The charity has general reserves of £59,181 (2020 £56,761) at the end of the year, which are sufficient to cover months 5-6 months charitable expenses and other costs.
Principal funding sources
The majority of the income for the Pre-School comes from fees. These are made up from payments by parents/carers as well as Government grants. The funding received from fundraising is generally used to buy more play equipment.
Investment policy and objectives
Most of the Charity's funds are spent in the short term, but a prudent amount is kept in reserves. This reserve is invested in a commercial Common Investment Fund which continues to show a low return. The Charity also holds a savings account with Virgin Money which pays a modest interest rate.
Reserves policy
The Management Committee feels that a level of reserves is required to meet 2-3 months of normal expenditure. This is based on the charity's size and the level of financial commitments held. The Management Committee aim to ensure the charity will be able to continue to fulfill its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Management Committee will endeavour not to set aside funds unnecessarily.
Going concern
The charity has adequate reserves to continue as a going concern for the foreseeable future.
Page 1
BOVINGDON PRE-SCHOOL
Report of the Trustees for the year ended 31st August 2021
FUTURE PLANS
The Pre-School plans to continue to fulfill its aims in the forthcoming years. We will be looking to introduce more flexible staffing arrangements to ensure a better match with the low numbers of children expected at the start of each academic year. It is also planned to improve the marketing of the Pre-School and the services we provide in order to attract more children from outside our normal catchment area.
We will aim to engage more parents in the running of the Pre-School, whether on the Management Committee, or as part of the Pre-School Parents Group helping with fund raising or by helping in the Pre-School on a day-to-day basis.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The Pre-School is a charitable company limited by guarantee, incorporated on 15th September 2004 and registered as a charity on 22nd December 2004. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the even of the company being wound-up, members are required to contribute an amount not exceeding £1.
Recruitment and appointment of new trustees
Committee members are volunteers who give their time to the Pre-School. We encourage new members and involvement from all parents. As well as the day-to-day running of the Pre-School we endeavour to raise extra income via fundraising events run by the Pre-School Parents Group. We hold monthly meetings, where Pre-School policies are reviewed and other issues relating to the Pre-School are raised and dealt with.
Organisational structure
The Pre-School has a Management Committee made up of between 5 and 12 members of which at least 60% must be Family Members of the company at the time of election. The Committee members will serve until the next AGM when they shall be eligible for re-election unless they have served in any capacity for 6 consecutive years (4 for co-opted members).
The Management Committee are responsible for setting and reviewing the policies of the Pre-School, whilst the day-to-day running of the Pre-School is managed by the Pre-School Supervisor.
Induction and training of new trustees
New trustees are given a 'Welcome Pack' which includes details of their responsibilities as well as a copy of the Memorandum and Articles of Association. Additionally, they are briefed by the Chair of the Management Committee or another existing trustee about the workings of the Committee.
Related parties
Guidance and recommendations for the running of the Pre-School are received from Ofsted and the Pre-School Learning Alliance.
Risk management
The Management Committee and Pre-School staff carry out regular reviews of the risks to the charity. The major risks are the health and safety of the children, staff, helpers and visitors to the Pre-School and procedures are in place to ensure compliance with health and safety regulations.
Financial Risks are mitigated by maintaining a suitable level of reserves and regular reviews of future attendance levels are undertaken, to ensure sufficient fee income is maintained.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05230651 (England and Wales)
Page 2
BOVINGDON PRE-SCHOOL
Report of the Trustees for the year ended 31st August 2021
Registered Charity number 1107414
Registered office
Memorial Hall High Street Bovingdon Hemel Hempstead Hertfordshire HP3 0HJ
Trustees
P J Adams Treasurer (resigned 10/9/2021) D N Evans - Chair (resigned 14/9/2021) M Haysman (resigned 14/9/2021) S J Hern A Hibbert C Kerr (resigned 14/9/2021) E Loosely (resigned 14/9/2021) A Williams C L Bicknell (resigned 16/12/2021) E Bandy (appointed 16/12/2021) M Mourau (appointed 16/6/2021) F Reilly (appointed 16/6/2021) L Jones (appointed 16/6/2021) M Jackson Treasurer (appointed 16/6/2021)
Company Secretary
V Norton
Independent Examiner
Nikki Drake FCCA Attenboroughs (Accountants) Limited Chartered Certified Accountants 1 Tower House Tower Centre Hoddesdon Hertfordshire EN11 8UR
Pre-School Supervisor
Ms A Barnes
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ E Bandy - Trustee
Page 3
Independent Examiner's Report to the Trustees of Bovingdon Pre-School
Independent examiner's report to the trustees of Bovingdon Pre-School ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st August 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required 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 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) 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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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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 (FRS 102)).
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 understanding of the accounts to be reached.
Nikki Drake FCCA Attenboroughs (Accountants) Limited Chartered Certified Accountants 1 Tower House Tower Centre Hoddesdon Hertfordshire EN11 8UR
Date: .............................................
Page 4
BOVINGDON PRE-SCHOOL
Statement of Financial Activities for the year ended 31st August 2021
| 31/8/21 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Early Years Education 98,874 Other trading activities 2 3,344 Total 102,218 EXPENDITURE ON Charitable activities Early Years Education 86,429 Other 13,475 Total 99,904 Net gains on investments 106 NET INCOME 2,420 RECONCILIATION OF FUNDS Total funds brought forward 56,761 TOTAL FUNDS CARRIED FORWARD 59,181 |
31/8/20 Total funds £ 110,058 573 |
|---|---|
| 110,631 85,636 15,484 |
|
| 101,120 - |
|
| 9,511 47,250 |
|
| 56,761 |
The notes form part of these financial statements
Page 5
BOVINGDON PRE-SCHOOL
Balance Sheet 31st August 2021
| 31/8/21 | 31/8/20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Investments | 7 | 3,343 | 3,237 |
| CURRENT ASSETS | |||
| Debtors | 8 | 95 | 150 |
| Cash at bank and in hand | 60,948 | 52,463 | |
| 61,043 | 52,613 | ||
| CREDITORS | |||
| Amounts falling due within one year | 9 | (5,205) | 911 |
| NET CURRENT ASSETS | 55,838 | 53,524 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 59,181 | 56,761 | |
| NET ASSETS | 59,181 | 56,761 | |
| FUNDS | 10 | ||
| Unrestricted funds | 59,181 | 56,761 | |
| TOTAL FUNDS | 59,181 | 56,761 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial 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 requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 6
BOVINGDON PRE-SCHOOL
Balance Sheet - continued 31st August 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
E Bandy - Trustee
The notes form part of these financial statements
Page 7
BOVINGDON PRE-SCHOOL
Notes to the Financial Statements for the year ended 31st August 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
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 specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 8
BOVINGDON PRE-SCHOOL
Notes to the Financial Statements - continued for the year ended 31st August 2021
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 31/8/21 | 31/8/20 | |
| £ | £ | |
| Fundraising events | 3,303 | 537 |
| Sale of T-Shirts | 41 | 36 |
| 3,344 | 573 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st August 2021 nor for the year ended 31st August 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st August 2021 nor for the year ended 31st August 2020.
4. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| 31/8/21 | 31/8/20 | |
| £ | £ | |
| Wages and salaries | 71,945 | 80,359 |
| Other pension costs | 1,121 | 1,547 |
| 73,066 | 81,906 | |
| The average monthly number of employees during the year was as follows: | ||
| 31/8/21 | 31/8/20 | |
| Pre-School | 8 | 11 |
| No employees received emoluments in excess of £60,000. | ||
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
| Unrestricted | ||
| funds | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Charitable activities | ||
| Early Years Education | 110,058 | |
| Other trading activities | 573 | |
| Total | 110,631 | |
| EXPENDITURE ON | ||
| Charitable activities | ||
| Early Years Education | 85,636 | |
| Other | 15,484 | |
| Total | 101,120 |
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
Page 9
BOVINGDON PRE-SCHOOL
Notes to the Financial Statements - continued for the year ended 31st August 2021
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|
| Unrestricted | ||
| funds | ||
| £ | ||
| NET INCOME | 9,511 | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 47,250 | |
| TOTAL FUNDS CARRIED FORWARD | 56,761 | |
| 6. | TANGIBLE FIXED ASSETS | |
| Fixtures | ||
| and | ||
| fittings | ||
| £ | ||
| COST | ||
| At 1st September 2020 and | ||
| 31st August 2021 | 12,134 | |
| DEPRECIATION | ||
| At 1st September 2020 and | ||
| 31st August 2021 | 12,134 | |
| NET BOOK VALUE | ||
| At 31st August 2021 | - | |
| At 31st August 2020 | - | |
| 7. | FIXED ASSET INVESTMENTS | |
| Listed | ||
| investments | ||
| £ | ||
| MARKET VALUE | ||
| At 1st September 2020 | 3,237 | |
| Revaluations | 106 | |
| At 31st August 2021 | 3,343 | |
| NET BOOK VALUE | ||
| At 31st August 2021 | 3,343 | |
| At 31st August 2020 | 3,237 | |
| There were no investment assets outside the UK. |
continued...
Page 10
BOVINGDON PRE-SCHOOL
Notes to the Financial Statements - continued for the year ended 31st August 2021
7. FIXED ASSET INVESTMENTS - continued
Cost or valuation at 31st August 2021 is represented by:
| Valuation in 2018 Valuation in 2019 Valuation in 2021 Cost 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Accruals and deferred income 10. MOVEMENT IN FUNDS At 1/9/20 £ Unrestricted funds General fund 56,761 TOTAL FUNDS 56,761 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 102,218 (99,904) TOTAL FUNDS 102,218 (99,904) |
Listed investments £ 38 94 106 3,105 3,343 31/8/21 31/8/20 £ £ 95 150 31/8/21 31/8/20 £ £ 1,631 1,041 166 (3,583) 2,568 791 840 840 5,205 (911) Net movement At in funds 31/8/21 £ £ 2,420 59,181 2,420 59,181 Gains and Movement losses in funds £ £ 106 2,420 106 2,420 |
|---|---|
continued...
Page 11
Notes to the Financial Statements - continued for the year ended 31st August 2021
BOVINGDON PRE-SCHOOL
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1/9/19 £ Unrestricted funds General fund 47,250 TOTAL FUNDS 47,250 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 110,631 TOTAL FUNDS 110,631 |
Net movement At in funds 31/8/20 £ £ 9,511 56,761 9,511 56,761 Resources Movement expended in funds £ £ (101,120) 9,511 (101,120) 9,511 |
Net movement At in funds 31/8/20 £ £ 9,511 56,761 9,511 56,761 Resources Movement expended in funds £ £ (101,120) 9,511 (101,120) 9,511 |
|---|---|---|
| 9,511 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1/9/19 | in funds | 31/8/21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 47,250 | 11,931 | 59,181 |
| TOTAL FUNDS | 47,250 | 11,931 | 59,181 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 212,849 212,849 |
Resources expended £ (201,024) (201,024) |
Gains and Movement losses in funds £ £ 106 11,931 106 11,931 |
Gains and Movement losses in funds £ £ 106 11,931 106 11,931 |
|---|---|---|---|---|
| 11,931 |
continued...
Page 12
BOVINGDON PRE-SCHOOL
Notes to the Financial Statements - continued for the year ended 31st August 2021
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st August 2021.
Page 13
BOVINGDON PRE-SCHOOL
Detailed Statement of Financial Activities for the year ended 31st August 2021
| 31/8/21 | 31/8/20 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Other trading activities | ||
| Fundraising events | 3,303 | 537 |
| Sale of T-Shirts | 41 | 36 |
| 3,344 | 573 | |
| Charitable activities | ||
| Fees from parents and carers | 24,160 | 33,258 |
| Breakfast and lunch club | 4 | 2,013 |
| Grants | 73,023 | 66,144 |
| JRS Grants | 1,687 | 8,643 |
| 98,874 | 110,058 | |
| Total incoming resources | 102,218 | 110,631 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 71,945 | 80,359 |
| Pensions | 1,121 | 1,547 |
| Training | 965 | 262 |
| Staff gifts | 468 | 578 |
| Play equipment and supplies | 3,757 | 3,011 |
| Groceries | 587 | 295 |
| T-Shirts | 117 | 192 |
| Bad debts | 1,708 | 272 |
| 80,668 | 86,516 | |
| Other | ||
| Rent | 8,839 | 6,959 |
| Insurance | 714 | 700 |
| Telephone | 269 | 279 |
| Computer costs | 759 | 586 |
| Miscellaneous | 20 | 180 |
| Printing, postage and stationery | 284 | 223 |
| Payroll costs | 390 | 516 |
| 11,275 | 9,443 | |
| Support costs | ||
| Finance | ||
| Bank charges | 93 | 60 |
This page does not form part of the statutory financial statements
Page 14
BOVINGDON PRE-SCHOOL
Detailed Statement of Financial Activities for the year ended 31st August 2021
| 31/8/21 | 31/8/20 | |
|---|---|---|
| £ | £ | |
| Finance | ||
| Governance costs | ||
| Accountancy | 185 | 840 |
| Professional fees | 7,683 | 4,261 |
| 7,868 | 5,101 | |
| Total resources expended | 99,904 | 101,120 |
| Net income before gains and losses | 2,314 | 9,511 |
| Realised recognised gains and losses | ||
| Realised gains/(losses) on fixed asset investments | 106 | - |
| Net income | 2,420 | 9,511 |
This page does not form part of the statutory financial statements
Page 15