2020-07-31-accounts - The Owl Pre-School

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Registered Company No: 05537796 Registered Charity No: 1112175

The Owl Pre-school Annual Report and Financial Statements for the year ended 31 July 2020

The Owl Pre-achoo!

Information

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|||||| |---|---|---|---|---| |Registered Charity Number:|= 1112175| |Company Number:|05537796| |Registered|Office:|The Owl|Pre-School|Building| |Packham|Road| |Northfleet| |Kent| |DA11 JF| |Independent|Examiner:|K Scudder| |Secretory:|$ Ewing {resigned|24 November 2020}| |P|Hickmott|(appointed 24|November|2020)| |Bankers:|Santander and|Nationwide| |Trustees:|J|Halle| |R James|(resigned|24|November 2020}| |D Johnson| |J|Scartt| |R Golding (resigned 26|Navember 2019}| |i|Brimble| |$|Ewing| |P Hickmott| |K|Stone| |$ Cooper|(appointed 26|November 2029)| |L|Gilbert|(appointed|24 November 2020)| |J Gooch {appolnted|24 November 2020}| |S Luckhurst (appointed 26|November|2019)| |L Morris {appointed 26|November 2019)|

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The Owl Pre-School

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Contents
Page
Trustees’ report 13
independent Examiner's report 4
Statement of Fmencial Activities & Balance Sheet 54
Notes to the Accounts 7-11
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The Owl Pre-School (Company Registration number 05537796}

Trustees’ Raport

For the year ended 31 July 2020

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 41 July 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) (FRS 102). The company fs registered as a charitable company limited by guarantee and is constituted by memorandum and articles of association incorporated 16 August 2005 as amended by special resolution dated 10 November 2015.

STRUCTURE, GOVERNANCE, OBJECTIVES AND MANAGEMENT

Objectives

The objectives of the charity are to enhance the development and education of children primarily under statutory school age by encouraging parents to understand and provide for the needs of thelr chifdren through community groups and by:

¢ Offering appropriate play, education and care facilities and tralning courses, together with the right of parents to take responsibility for and to become Involved In the activities of such groups, ensuring that such groups offer opportunities for all children whatever thelr race, culture, religion, means or ablility-
- Encouraging the studyof the needs of such children and thair families and promoting public Interest In and recagnition of such needs,
« = Instigating and adhering to and furthering the aims and objects of the Pre-School Learning Alliance.

Trustees’ Responsibilities

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements |n accordance with applicable law end United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice}.

The law applicable to charities in England & Wales requires the Trustees to prepare financlal statements for gach financial year which give a true and fair view of the state of affairs of the Charity and of the Incoming resources and application of resources of the Charity for that period. In preparing these flaanciat statements, the Trustees are required ta:

select suitable eccounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
~ make judgements and estimates that are reasonable and prudent;
~ State whether appiicable eccounting standards have been followed, subject to any material departures disclosed and explained In the financial statements;
~ prepare Ninancial statements on the golng concern basis unless it is Inappropriate to presume that the Charity will continue in operation.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable atturecy Bt any time the financial position of the Charity and enable them to ensure that the financial Statements comply with the Charities Act 2012, the Charity (Accounts and Reports} Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities.

The Owl Pre-School (Company Registration number 05537796)

Trustees’ Report Continued For the year ended 31 July 2020

Public benefit

In meeting the objectives of the charity The Ow! Pre-School fulfils its public benefit requirement by providing the highest quality of care and education for all children and are committed to valuing diversity by providing equality of opportunity and anti-discriminatory practice for all children and their families.

Appointment and Training of Trustees

The trustees who have served during the year are set out above. The trustees are appointed by the members of the company and one third of the trustees retires by rotation each year and may offer themselves for re-election in accordance with the Articles of Association.

The Trustees and directors

The directors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees and officers serving during the year and since the year end were as follows:

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||||||| |---|---|---|---|---|---| |J|Haile|P|Hickmott| |R James|(resigned|24|November 2020)|K|Stone| |D Johnson|S Cooper (appointed 26 November 2019)| |J|Scarf|L Gilbert (appointed 24 November 2020)| |R Golding|(resigned 26 November 2019)|J Gooch|(appointed|23 September 2020)| |J|Brimble|S|Luckhurst (appointed 26 November 2019)| |S Ewing|L Morris (appointed 26 November 2019)|

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Risk Assessment

The trustees have reviewed the risks and are confident that they have all risks covered with actions to minimise risk and exposure to the charity.

ACTIVITIES, ACHIEVEMENTS, PERFORMANCE AND FINANCIAL REVIEW

Review of Developments, Activities and Achievements

The Income and Expenditure Account

Please see the attached. As in previous years we have achieved a fairly sound financial position, especially given the challenges that Covid 19 has given everyone. This enables us to provide the security and quality of service standards, set by the management committee.

Incomes Our main income is generated by Early Years Funding, the scheme that is run by local authorities for children aged 3 to 4 years. We do have a few children under the age of 3 years that pay to attend some sessions, but we still have to carry out a large amount of fund-raising to cover the shortfall.

The Owl Pre-School (Company Registration number 05537796)

Trustees Report Continued

For the year ended 31 July 2020

Expenditure

Rent and Buildings

All repairs are the responsibility of the Pre-School. We are not covered by KCC, like the schools. Our operating costs such as gas, “electricity, water, telephone and internet are included under the heading Rent & Buildings”

We own the building, but KCC own the land and we have negotiated a new lease with them. Because the build is over 25 years old, maintenance is part of our business planned expenditure. The biggest expenditure this year was the installation of the new roof. The roof is a flat roof and was desperate need of replacement . A grant from KCC was obtained to help with some of the cost of the roof replacement. This will bring expenditure of energy down considerably and a regular maintenance contract has been established to avoid further problems.

Salaries

There are currently 13 part-time members of staff and 1 zero hours contracted member of staff.

Materials and Consumable Items :

We are always looking to purchase new toys and games for the Pre-School. We have been looking into purchasing new technology toys for the children to enable them to earn while playing with up to date technology.

We do budget for new paint, paper, cleaning and hygiene consumables, stationery, and children’s daily refreshments and they are accounted for under this heading. Although ask parents for a small voluntary contribution towards snacks, thus lowering the annual cost of refreshments.

Quality Development and Staff Training

Because the children benefit greatly, we are committed to ongoing training of the staff. They attended KCC, Early Years Alliance courses and many others that were applicable. All Staff attend the statutory First Aid and safe guarding courses, and some are asked to attend additional courses to meet individual children’s needs. Many of these courses had to be completed online due to Covid 19.

Reserves

£50,000.00 in the deposit account is “untouchable”- This sum of money has to be reserved to cover redundancy payments if the Pre-School was forced to close for any reason. This is a stipulation of the Charity Commissioners.

Repairs and Maintenance are inevitable with a build over 25 years old so a building fund is also included in this account. We are looking to replace blinds in the main room of the Pre-school, and supply the staff with laptops but hope for this will be mainly paid for by fund raising activities.

Daniel Johnson

Treasurer

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Trustee: JANE NICOLA Glooce| Trustee: Normmnn Luise THA LE
J Gooch Va Up / J Haile \eck
23/4/2\
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The Owl Pre-School (Company Registration number 05537796)

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE OWL PRE-SCHOOL ADMINISTRATORS CHARITABLE TRUST For the year ended 31 July 2020

| report on the accounts of the Trust for the year ended 31 July 2020 which are set out on pages 11 to 15.

Respective responsibilities of trustees and examiner

The Charity's Trustees are responsible for the preparation of the accounts. The Charity’s Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to: - examine the accounts under section 145 of the 2011 Act; - follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with 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 fair view” and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

which gives me reasonable cause to believe that, in any material respect, the requirements:
to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting ‘requirements of the 2011 Act

have not been met; or

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

K Scudder

Date: L6H Ayal Zo2!

The Owl Pre-School (Company Registration number 05537796)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2020

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||||||||| |---|---|---|---|---|---|---|---| |2020|2019| |Notes|£|£|£|£| |Incoming|Resources| |Donations|&|legacies|2|7,244|3,730| |Income|from|charitable|activities|3|128,901|131,359| |Investment|income|4|382|326| |Fundraising|5|1,078|401| |Other income|6|1,361|3,151| |138,966|138,967| |Resources|Expended| |Expenditure on|charitable|activities|7|(151,960)|(134,474)| |(134,474)_| |(151,960)_||| |Net|incoming|resources/(resources|(12,994)|4,493| |expended)| |Net movement|in|fund|(12,994)|4,493| |Balance|brought forward|at|1|August| |2019|87,015|82,522| |Balance carried|forward|at|31|July|2020|74,021|87,015|

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The notes on pages 7 to 11 form an integral part of these financial statements

The Owl Pre-School (Company Registration number 05537796)

‘

BALANCE SHEET AS AT 31 JULY 2020

			2020		2019
	Notes	£	£	£	£
Fixed Assets			582		727
Current Assets
Debtors	9	1,548		1,638
Cash at bankand in hand		76,417		88,088
			77,965		89,726
			78,547		90,453
Creditors:amountsfallingdue	10	(4,526)		(3,438)
within oneyear
			(4,526)		(3,438)
NetAssets			74,021		87,015
Financed by:	13
Unrestricted Fund as at 1 August			87,015		82,522
2019
Add Surplus/(Deficit) from Revenue
Account			(12,994)		4,493
			74,021		87,015

For the year ending 31 July 2020 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the charitable company to obtain an audit of its financial statements for the year ending 31 July 2020 in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for:

e ensuring that the charitable company keeps accounting records that comply with Section 386 and 387 of the Companies Act 2006 and
® preparing financial statements which give a true and fair viewof the state of affairs of the
: charitable company as at the end of each financial period and of its surplus or deficit for each financial period 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 Section 398 of the Companies Act 2006 Section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

Approved by the trustees on 2021 and signed on their behalf by

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Trustee: JANE NICOLA Gower Trustee: \ommrnaA Lose TWAVCE
J Gooch YN Certh J Haile \ See.
The notes on pages 7 to 11 form an integral part of these financial statements
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The Owl Pre-School (Company Registration number 05537796)

’

NOTES TO THE ACCOUNTS

for the year ended 31 July 2020

1 =©Accounting Policies:

Accounting Convention: 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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Owls Pre-School meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Reconciliation with previously Generally Accepted Accounting Practice: In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 no restatement of comparative items was required.

Incoming Resources: All incoming resources are included in the Statement of Financial Activities (SOFA) when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

For legacies, entitlement is the earlier of the Charity being notified of an impending distribution or the legacy being received.

Resources Expended: All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been ailocated to activities consistent with the resources.

Fund Accounting: General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have : not been designated for other purposes. Designated funds are unrestricted funds which the trustees have designated for a specific purpose. There are no restricted funds.

Fixed Assets: Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Computer Equipment - 20% reducing balance

Debtors: These relate to prepayments and accrued income.

Creditors: These relate to other creditors, accruals and deferred income.

Value Added Tax: Irrecoverable VAT which can be attributed to a capital item or revenue expenditure is added to the cost of the capital item or expenses where practicable and material.

The Owl Pre-School (Company Registration number 05537796)

NOTES TO THE ACCOUNTS for the year ended 31 July 2020

2 Donations and legacies

	2020	2019
	£	£
Donations	3,573	3,353
Grantfrom KCC for roof repair	3,480	-
Gift Aid income	191	377
	7,244	3,730
Income from charitable activities
	2020	2019
	£	£
Incomefrom KCC	122,280	130,213
Fees	6,621	1,146
	128,901	131,359
Investment income
	2020	2019
	£	£
Bank interest received	382_	326
Fundraising
	2020	2019
	£	£
Christmas Fair	347	-
Raffles	731	251
Photos	-	150
	1,078	401
Other income
	2020	2019
;
	£	£
Course	-	-
Snacks	770	1,857
Uniform &water bottle sales	591	1,294
	1,361	3,151

3 Income from charitable activities

4 Investment income

5 Fundraising

6 Other income

The Owl Pre-School (Company Registration number 05537796)

NOTES TO THE ACCOUNTS for the year ended 31 July 2020

7 Analysis of charitable expenditure

			2020	2019
			£	£
		Direct costs	6,022	5,865
		Wages and salaries costs	118,745	109,321
		Stafftraining and welfare	618	688
		Redistribution offunding	747	-
		Purchases	-	99
		Christmas Fair costs	378	-
		Rent	2,000	2,000
		Rates	-	276
		Light and heat	1,454	1,008
		Telephone and fax	1,012	1,046
		Stationeryand printing	5,467	3,605
		Subscriptions	1,315	511
		Insurance	859	826
		Software	1,012	980
		Repairs and maintenance	7,474	1,152
		Snacks	997	1,111
		PPE equipment	661	=
		Uniform	433	2,736
		Sundry expenses	1,088	963
		Bank charges	-	175
		Depreciation charge	145	182
		Accountancy Fees	1,300	1,440
		Other legal and professional	233	490
			151,960	134,474
-	8	Analysis ofResources Expended
			2020	2019
			£	£
		Resources expended include the following:
		Independentexaminersfee	180	162

The Owl Pre-School (Company Registration number 05537796)

’

NOTES TO THE ACCOUNTS

for the year ended 31 July 2020

9 ‘Fixed Assets

		Computer
		Equipment
		£
Cost
At 1 August 2019		909
At 31 July2020		909
Depreciation	.
At 1 August 2019		182
Charge forthe year		145
At 31July2020		327
Net Book Value
At 31 July2020		582
At31July2019		727

10 Debtors

		2020	2019
		£	£
Prepaymentsandaccrued income		1,547	1,638
11	Creditors < 1year
		2020	2019
		£	£
Othertaxesand social security		1,311	1,115
Other creditors and accruals		3,216	2,323
		4527	8,488

12 Trustee Remuneration

Trustees do not receive remuneration for their services as trustees.

The Owl Pre-School (Company Registration number 05537796)

NOTES TO THE ACCOUNTS

for the year ended 31 July 2020

12 Trustees’ Expenses

Trustees received out of pocket expenses totalling £nil (2019: £nil).

13	Employee Emoluments
		2020	2019
		£	£
Wages and salaries		117,689	108,550
Employers pension contributions		1,056	771
		118,745	109,321
15	Reserves
		Unrestricted	Unrestricted
		Funds	Funds
		2020	2019
		£	£
Balance at start offinancial year		87,015	82,522
Surplus/(Deficit) fortheyear		(12,994)	4,493
Balance at close offinancial year		74,021

15 Reserves

16 Related party transactions

There are no related party transactions in the year.

17 Controlling interest

The Trustees as a collective body control the charity.

18 Commitments

The trustees had no capital commitments as at 31 July 2020 (2019: fnil).