REGISTERED NUMBER:05308945 REGISTERED CHARITY NUMBER: 1108152
Genesis Pre-School (Hull) Trust Limited
Unaudited Financial Statements
31 August 2023
WYPACTWAY ICAEWGikttereo SD-0214015-1-6 ~~A~~ T
Genesis Pre-School (Hull) Trust Limited
Contents of the Financial Statements for the year ended 31st August 2023
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
Genesis Pre-School (Hull) Trust Limited
Reference and Administrative Details for the year ended 31st August 2023
TRUSTEES R Elliot (resigned 10.2.2023) S Fyvie L H Millar (Chair) M Judah R A Elliott S Weston REGISTERED OFFICE St Martins Church Hall North Road Hull East Yorkshire HU4 6DD REGISTERED COMPANY 05308945 NUMBER REGISTERED CHARITY 1108152 NUMBER
INDEPENDENT EXAMINER Smailes Goldie Chartered Accountants Regent's Court Princess Street Hull East Yorkshire HU2 8BA
Page 1
Genesis Pre-School (Hull) Trust Limited Registered Number: 05308945
Report of the Trustees for the year ended 31st August 2023
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 2023. 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
Principal aims and activities
The charity exists to enhance the development and education of children primarily under school age. It seeks to do this by encouraging parents and guardians with such children in their care to understand and provide for the physical, emotional, social and spiritual needs through the activities of the pre-school.
Children moving on to local primary schools are taken there during their final weeks at Genesis, and the appropriate information about each child is passed on to these schools before they start.
Public benefit
The trustees have considered the Commission's guidance on public benefit and are of the opinion that this is fulfilled by the establishment and running of a pre-school as described above.
ACHIEVEMENT AND PERFORMANCE
Chair's report
Genesis Pre-School is open 5 days a week from 9am to 3pm. We are situated at St Martins Community Hall, Hull.
We have Christian ethics but welcome children from any background. We have 29 Children registered some on a part time basis and some full time..
Our staff now stand at 5 permanent staff.
FINANCIAL REVIEW
Financial review
Our two main sources of income continue to be public funding and private fees.
Overall the income for the year was £100,541 (2022 £86,856) with expenditure of £105,830 (2022 £96,820).
The Deficit for the year was £5,289 (2022 £9,964)
The Trustees need to accumulate a small reserve to provide for renewal of equipment and as a contingency fund to meet unexpected expense.The target has been to have a reserve of 15% of turnover. In the General Fund this now stands at 43%. The target will be reviewed next year.
The charity's assets
The charity charges general expenditure on asset acquisition under £500 to the revenue account. It currently has no assets above this threshold.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Structure and governance
The charity is a private company limited by guarantee, and is governed by its articles and memorandum of association. At any one time there shall be no less than three trustees; there is no maximum.
Recruitment and appointment of new trustees
New trustees are appointed by the members of the charity at the Annual General Meeting, which must be held once per year. The trustees are aware of the need to increase their number, and to receive training appropriate to their role. The matter is under further consideration.
Page 2
Genesis Pre-School (Hull) Trust Limited Registered Number: 05308945
Report of the Trustees
for the year ended 31st August 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Approved by order of the board of trustees on 13th May 2024 and signed on its behalf by:
L. Millar
L H Millar - Trustee
Page 3
Independent Examiner's Report to the Trustees of Genesis Pre-School (Hull) Trust Limited
Independent examiner's report to the trustees of Genesis Pre-School (Hull) Trust Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st August 2023.
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:
-
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.
S T Bramall BSc. FCA
Smailes Goldie Chartered Accountants Regent's Court Princess Street Hull East Yorkshire HU2 8BA
13th May 2024
Page 4
Genesis Pre-School (Hull) Trust Limited
Statement of Financial Activities
for the year ended 31st August 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities 3 Pre-school 97,447 Investment income 2 84 Total 97,531 EXPENDITURE ON Charitable activities 4 Pre-school 105,234 NET INCOME/(EXPENDITURE) (7,703) RECONCILIATION OF FUNDS Total funds brought forward 32,958 TOTAL FUNDS CARRIED FORWARD 25,255 |
Restricted fund £ 3,010 - 3,010 596 2,414 4,319 6,733 |
2023 Total funds £ 100,457 84 100,541 105,830 (5,289) 37,277 31,988 |
2022 Total funds £ 86,856 - 86,856 96,820 (9,964) 47,241 37,277 |
|---|---|---|---|
The notes form part of these financial statements
Page 5
Genesis Pre-School (Hull) Trust Limited Registered Number: 05308945
Balance Sheet 31st August 2023
| Unrestricted Restricted fund fund Notes £ £ CURRENT ASSETS Debtors 9 1,062 - Cash at bank and in hand 52,838 6,733 53,900 6,733 CREDITORS Amounts falling due within one year 10 (28,645) - NET CURRENT ASSETS 25,255 6,733 TOTAL ASSETS LESS CURRENT LIABILITIES 25,255 6,733 NET ASSETS 25,255 6,733 FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
2023 Total funds £ 1,062 59,571 60,633 (28,645) 31,988 31,988 31,988 25,255 6,733 31,988 |
2022 Total funds £ 3,259 55,332 58,591 (21,314) 37,277 37,277 37,277 32,958 4,319 37,277 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2023 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.
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 13th May 2024 and were signed on its behalf by:
L. Millar
- L H Millar - Trustee
The notes form part of these financial statements
Page 6
Genesis Pre-School (Hull) Trust Limited
Notes to the Financial Statements for the year ended 31st August 2023
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.
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.
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.
2. INVESTMENT INCOME
| 2023 £ Deposit account interest 84 |
2022 £ - |
|---|---|
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continued...
Genesis Pre-School (Hull) Trust Limited
Notes to the Financial Statements - continued for the year ended 31st August 2023
| 3. INCOME FROM CHARITABLE ACTIVITIES Activity Fees - Hull City Council Pre-school Fees - Parents Pre-school Uniform sales Pre-school 4. CHARITABLE ACTIVITIES COSTS Pre-school 5. DIRECT COSTS OF CHARITABLE ACTIVITIES Staff costs Insurance Telephone Postage and stationery Sundries Office costs Repairs Teaching materials Refreshments Training Cleaning 6. SUPPORT COSTS Pre-school |
Direct Costs (see note 5) £ 99,161 |
2023 £ 90,070 9,733 654 100,457 Support costs (see note 6) £ 6,669 2023 £ 78,112 1,078 874 263 1,360 12,110 799 4,183 50 120 212 99,161 |
2022 £ 69,792 16,707 357 |
2022 £ 69,792 16,707 357 |
2022 £ 69,792 16,707 357 |
|---|---|---|---|---|---|
| 86,856 | |||||
| Totals £ 105,830 |
|||||
| 2022 £ 73,115 922 991 141 1,713 11,741 218 1,607 159 102 201 |
|||||
| 90,910 | |||||
| Other £ 6,669 |
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continued...
Genesis Pre-School (Hull) Trust Limited
Notes to the Financial Statements - continued for the year ended 31st August 2023
6. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
Other
| Other | ||
|---|---|---|
| 2023 | 2022 | |
| Total | ||
| Pre-school | activities | |
| £ | £ | |
| Examination fees | 1,238 | 930 |
| Professional fees | 5,298 | 4,649 |
| Bank charges | 133 | 178 |
| Food | - | 153 |
| 6,669 | 5,910 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st August 2023 nor for the year ended 31st August 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st August 2023 nor for the year ended 31st August 2022.
8.
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Charitable activities Pre-school 83,902 2,954 EXPENDITURE ON Charitable activities Pre-school 93,866 2,954 NET INCOME/(EXPENDITURE) (9,964) - RECONCILIATION OF FUNDS Total funds brought forward 42,922 4,319 TOTAL FUNDS CARRIED FORWARD 32,958 4,319 |
Total funds £ 86,856 96,820 (9,964) 47,241 37,277 |
|---|---|
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continued...
Genesis Pre-School (Hull) Trust Limited
Notes to the Financial Statements - continued for the year ended 31st August 2023
| 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Pension Income in advance Accrued expenses 11. MOVEMENT IN FUNDS At 1.9.22 £ Unrestricted funds General fund 32,958 Restricted funds Restricted EYPP funding 4,319 TOTAL FUNDS 37,277 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 97,531 Restricted funds Restricted EYPP funding 3,010 TOTAL FUNDS 100,541 |
2023 2022 £ £ 113 2,334 949 925 1,062 3,259 2023 2022 £ £ 1,750 4,020 853 583 - 217 499 336 24,631 14,713 912 1,445 28,645 21,314 Net movement At in funds 31.8.23 £ £ (7,703) 25,255 2,414 6,733 (5,289) 31,988 Resources Movement expended in funds £ £ (105,234) (7,703) (596) 2,414 (105,830) (5,289) |
|---|---|
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continued...
Genesis Pre-School (Hull) Trust Limited
Notes to the Financial Statements - continued for the year ended 31st August 2023
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| At 1.9.21 | in funds | 31.8.22 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 42,922 |
(9,964) | 32,958 |
| Restricted funds | ||
| Restricted EYPP funding 4,319 |
- | 4,319 |
| TOTAL FUNDS 47,241 |
(9,964) | 37,277 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 83,902 |
(93,866) | (9,964) |
| Restricted funds | ||
| Restricted EYPP funding 2,954 |
(2,954) | - |
| TOTAL FUNDS 86,856 |
(96,820) | (9,964) |
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st August 2023.
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