Company number 05709181 Charity number 1114179
## Riding Mill Pre School Limited
## Trustees Report and Financial Statements
For the year ended 31 July 2023
1
Riding Mill Pre School Limited Contents
For the year ended 31 July 2023
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||||||||
|---|---|---|---|---|---|---|
|$n|
|Contents|Pages|
|Reference|and|administrative|details|3|
|Report|of the|Trustees|4|
|Independent examiner's|report|8|
|Statement of Financial|Activities|(incorporating|the income and|expenditure|account)|9|
|Statement|of Financial|Position|10|
|Notes to the|financial|statements|11|
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Riding Mill Pre School Limited Reference and administrative details
## For the year ended
|For the year endedthe year endedended|For the year endedthe year endedended|
|---|---|
|31 July2023a||
|Company number|05709181|
|Charitynumber|1114179|
|Registered officeand|BroomhaughC ofE FirstSchool, Church Lane, Riding Mill,|
|Operational address|Northumberland, NE446DR|
|Trustees|Trustees, who are also directors undercompany law,who served|
||theyearand uptothe date ofthis reportwere as follows:|
||Carole Smith (Chair)|
||Helen Ridley (secretary)|
||Gemma Robinson|
||Jennifer Stephenson|
||Alexandra SarahWade (Appointed 15 October2022)|
||Laura Gabbey-Cristofini (Appointed 15 October 2022)|
|Bankers|Barclays BankUK ple|
||Scottish Widows (part of Lloyds Bank plc)|
|Independent examiner|Phil Wright,ACA|
||East Rigg, Long Rigg,|
||Riding Mill|
||NE446AL|
3
Riding Mill Pre School Limited Report of the Trustees
For the year ended 31 July 2023 eeee ee ee The Trustees present their report and the independently examined financial statements for the year period ended 31 July 2023. This report incorporates the Directors' Report.
Reference and administrative information set out on page 3 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities (Charities SORP FRS 102).
## Structure, governance and management
The organisation is a charitable company limited by guarantee, incorporated on 14 February 2006 and registered as a charity on 15 May 2006. 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.
All Trustees give their time voluntarily and receive no benefits from the Charity. Any expenses reclaimed from the charity are set out in note 13 to the accounts.
The Trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcome of its work within the last twelve months. The Trustees report sets out the achievements of the charity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the Trustees ensure that the charity's aims, objectives and activities remain focused on its stated purposes.
## Objectives and activities
Riding Mill Pre-School Limited is a registered charity that aims to enhance the development and education of children under the statutory school age by encouraging the parents to understand and provide for the needs of their children through community groups. It runs a pre-school for up to around 25 children from in and around Riding Mill, Northumberland.
## Achievements and performance
It is a pleasure to be reporting on another successful year, our fifth year of operation as Riding Mill Outdoor Preschool at the Broomhaugh First School site.
The number of children registered in September 2022 was well below capacity, so our high staffing meant that we were operating at a loss in the autumn term. The staff were proactive and suggested running a playgroup on a Friday morning — when there were no children booked in — and the committee was happy to agree. After a slow start, word soon spread and Friday mornings became a busy time at the site. We gained some children for regular sessions and the playgroup will continue into next year.
There were some adjustments to staffing over the year, with Eleanor reverting to Preschool Assistant and Ruth Woodmansey taking over as Deputy to Ruth Brown. Maddy completed her apprenticeship and remains, along with Ange Burrows, a valued member of a very strong team. Child numbers grew steadily through the year and by the summer term some sessions were full and we were grateful to welcome volunteers on site at busy times.
During the year there were several memorable events. A successful ceilidh in November added to the coffers, as did the now annual Christmas carolling around the village. As costs continue to rise, fundraising activities are increasingly important so we are lucky to have talented staff and parents who facilitate such events. We are also grateful for donations from the Parish Council and Tesco Community Fund.
4
For the year ended 31 July 2023
## Achievements and
## performance (continued
The winter brought bitterly cold conditions and frozen pipes, but we managed to remain open thanks to the resilience of the staff and help from Broomhaugh First School. As our landlords, the school has now taken steps to remedy the water pipe situation.
It had always been our understanding that RMOP would eventually be amalgamated with the school, thus cementing the strong relationship that we have always enjoyed. However, the governors have now resolved that this would be too problematic for the school and so they have agreed that RMOP will remain as a separate entity, continuing to occupy the current site, The main consequence of this is that our lease and rent will have to be re-negotiated, though this process is still in the early stages. The committee will continue to liaise with the governors and report to staff and parents when any significant decisions have been made.
## Future planning
We expect child numbers to remain in line with our expectations and hope that the increased uptake of Scurries wraparound care before and after school hours can be maintained. This is achieved mainly through ‘word of mouth’ but the committee is increasingly proactive in advertising our offer. The continuation of the weekly playgroup will also contribute to this.
Itis a certainty that cost of living pressures will continue to be a challenge to the running of RMOP, as well as the uncertainty of our lease agreement with the school. The slight increase in Early Years funding from Northumberland County Council and our decision to increase fees for self-funded children will increase overall income. We anticipate that fund-raising events and grant application may take on more importance in the future.
Finally, | must register my sincere thanks to the whole team - staff, parents and committee - who make RMOP the unique place thatitis. With sucha small - but very committed - Management Committee, there is a lot to juggle and we all do this willingly. However, it would be wonderful to recruit a couple more director/trustees to help spread the load going forward. Anyone with experience or interest in applying for grant funding would be especially welcome but willingness and enthusiasm are the overriding requirements.
## Financial review
Full details of the charity’s financial performance are set out from page9 of the report. Total income for the year was £42,864 with total expenditure of £67,803 in the period. The charity utilised opening funds to cover an overall net expenditurefor the year of £24,939.
Riding Mill Pre School Limited Report of the Trustees
5
For the year ended 31 July 2023
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## Reserves policy
The Trustees have examined the charity’s requirements for reserves considering the main risks to the organisation. Trustees are committed to maintaining sufficient reserves to support current activities to meet the following requirements:
* Safeguarding the charity’s service commitment in the event of reduction or delay in receipt of grants or other income. * Providing a financial cushion against risk and future uncertainties.
To this end, the Trustees review the level of reserves annually to ensure that the appropriate levels of reserves are maintained and that the Pre-school would be able to continue its provision for a period of 3 to 6 months without unnecessary disruption in the event of a delay or fall in grant funding.
Total unrestricted funds at the year end were £29,846. These are represented by fixed assets of £136 and net current assets of £29,710.
## Trustee selection method
Trustee membership is open to anybody with an interest in the Riding Mill Pre-school and the development of its children at pre-school age. New trustees are recruited by existing Trustees and are typically parents of those children attending Riding Mill Pre-School.
Trustees are either voted onto the committee at our Annual General Meeting or are co-opted onto the committee between Annual General Meetings. New Trustees must submit an application that meets Ofsted's requirements.
## Risk management
The Trustees have examined the major risks the charity faces and confirms that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen the risks.
## Volunteers
The charity is grateful for the efforts of its volunteers who contribute greatly to the work of the organisation through carrying out administrative services, assisting at events and fundraising. Given the difficulty in placing a value on the time and effort given by our volunteers their impact is not reflected in our financial statements.
Signed on behalf of the Trustees:
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i _
Carole Smith, Chair
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Date: T A Ocbsber ) ors
6
Riding Mill Pre School Limited Report of the Trustees
For the year ended 31 July 2023 TTSSSS—sSsS—
SSSS—sSsS—
## Statement of Responsibility of the Trustees
Our Trustees (who are also directors of Riding Mill Pre School Limited for the purposes of company law) are responsible for preparing the report of the Trustees’ and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
- Select suitable accounting 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 applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in
- - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accou nting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## In so far as the Trustees are aware:
~ There is no relevant information of which the charity's independent examiner is unaware; and - The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiner is aware of that
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Members ofthe charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 July 2023 was 6 (4 as at 31 July 2022). The Trustees are members of the charity but this entitles them only to voting rights. The Trustees have no beneficial interest in the charity. Signed on behalf of the“A Cpaeryd > Carole Smith, Chair Dae: ~( (oO. Ls
7
Riding Mill Pre School Limited Independent examiner's report For the year ended 31 July 2023
## eee
| report on the accounts of the company for the period ended 31 July 2023, which are set out on pages 9 to 17.
Respective responsibilities of trustees 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 charity trustees consider that an audit is not required for this year under section 144 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.
## Basis of independent examiner’s 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 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:
(1) Which gives me reasonable cause to believe that, in any material respect, the requirements:
- a) to keep accounting records in accordance with section 386 of the Companies Act 2006; and b) to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 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 understanding of the financial statements to be reached. Independenton examiner:SLY Phil Wright, ACA pate 7 Cctaog@M ZoZ2T East Rigg, Long Rigg Riding Mill Northumberland, NE44 6AL
8
Riding Mill Pre School Limited Statement of Financial Activities (incorporating an income and expenditure account)
For the year ended 31 July 2023
|KK|KK|KK|KK|KK|
|---|---|---|---|---|
|||||Year to 31|
|||||July|
|||||2023|
||Note|Unrestricted|Restricted|Total|
|||£|£|£|
|Incomefrom:|||||
|Donationsand legacies||3,899||3,899|
|Charitableactivities|3|38,841||38,841|
|Investments: interestincome||66||66|
|Other||58||58|
|Total income||42,864|.|42,864|
|Expenditure on:|||||
|Raisingfunds||314||314|
|Charitable activities|4|67,488||67,488|
|Other||-||-|
|Totalexpenditure||67,803|-|67,803|
|Net(expenditure)/income fortheyear||(24,939)|.|(24,939)|
|Reconciliation offunds|||||
|Totalfundsbrought forward||54,596|-|54,596|
|Net (expenditure)/income forthe year||(24,939)|-|(24,939)|
|Transfers between finds|||||
|Totalfundscarriedforward||29,657
NE
———|-|29,657|
The above results are derived from continuing activities. There are no recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 12 to the financial statements.
The notes on pages 11 to 17 form part of these financial statements.
9
Riding Mill Pre School Limited
Statement of Financial Position
## For the year ended
31 July 2023
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|||||||||
|---|---|---|---|---|---|---|---|
|a|
|As|at|31|July|
|2023|
|Total|
|Note|£|
|Fixed|assets|
|Tangible|fixed|assets|8|136|
|136|
|Current|Assets|
|Stock|5|
|Debtors|9|-|
|Cash|at|bank and|in|hand|29,775|
|29,780|
|Liabilities|
|Creditors:|amounts|falling|due within|one|year|10|(259)|
|Net|current|assets|29,521|
|Total|assets|less|current|liabilities|29,657|
|Creditors:|amounts|falling|due|after|more than|one year|-|
|Provisions for|liabilities|and|charges|-|
|Net|assets|29,657|
|The|funds|of the|charity|11|
|Restricted|funds|"|
|Designated|funds|-|
|General|Funds|29,657|
|Total|charity funds|29,657|
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For the year ended 31 July 2023 the charitable company was entitled to exemption under section 4// of the Companies Act 2006 relating to small companies.
No members have required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2016.
The trustees, who are directors of the charitable company under company law, acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These account have been prepared in accordance with provision applicable to companies subject to the small companies’ regime.
The financial statements were approved by the Trustees and authorised for issue on signed on their behalf by:
") 1o& 23 and
Carole Smith, Chair
10
Riding Mill Pre School Limited Notes to the Financial Statements
For the year ended 31 July 2023
## 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 (FRS 102) (effective 1 January 2015) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (August 2014) and the Companies Act 2006.
Assets and liabilities are initially recognised at historical cost or transaction value unless
- b) Change in accounts presentation
These financial statements adopt an updated presentation style to demonstrate that the accounting policies required by FRS 102 and the Charities SORP FRS 102 have been applied.
c) The Charity The charity is a company limited by guarantee. The members of the company are the Trustees named on page two. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. In the opinion of the Trustees there is no ultimate controlling party.
## d) Going concern
The Trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. There are no key judgements that the charitable company has made which havea significant effect on the accounts. The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets
e) Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be
f) Expenditure ; seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
The charity is not registered for VAT. In common with many other charities, the Riding Mill Pre School Limited expenses are inflated by VAT which cannot be recovered.
11
Riding Mill Pre School Limited
Notes to the Financial Statements
For the Year ended 31 July 2022
## ee
## 1 Accounting policies (continued)
## g) Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
## Furniture and fixtures
25% straight line
## h) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade
i) Cash at bank and in hand
Cash at bank and cash in hand includes cash and instant access bank accounts.
## j) Creditors and provisions and provisions provisions
Creditors and provisions and provisions provisions . ; - . from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
12
Riding Mill Pre School Limited Notes to the Financial Statements
For the year ended 31 July 2023
## a
|2
Prioryearcomparativesforthestatement offinancial activities|||
|---|---|---|
||Unrestricted|Restricted|
||£|£|
|Income from:|||
|Donationsand legacies|2,247|-|
|Charitable activities|62,071|-|
|Investments: interest income|17|-|
|Other|1,939|-|
|Total income|66,273|-|
|Expenditure on:|||
|Raising funds|-|-|
|Charitable activities|66,098|-|
|Other|-|-|
|Totalexpenditure|66,098|-|
|Net incomefortheyear|175|-|
|Reconciliation offunds|||
|Totalfunds broughtforward|54,166|255|
|Net incomeforthe year|175|-|
|Transfers between finds|255|(255)|
|Totalfundscarriedforward|54,596|-|
13
Riding Mill Pre School Limited
Notes to the Financial Statements
For the year ended 31 July 2023
|||||31 Jul|
|---|---|---|---|---|
|3|Incomefrom charitable activities|||2023|
|||Unrestricted|Restricted|Total|
|||£|£|£|
||The charitable activities ofthe Charity comprisethe provision||||
||of pre-school education.||||
||Fee income|10,307|-|10,307|
||Local council grant income|28,533|-|28,533|
||Total|38,841|-|38,841|
|4|Expenditure|Provision of||Governance|31Jul|
|---|---|---|---|---|
|||pre-school|and support|2023|
|||education|Costs|Total|
|||£|£|£|
||Staff costs|53,520|-|53,520|
||Equipment and other expenses|7,354|-|7,354|
||Premises and office costs|6,000|-|6,000|
||Insurance|-|614|614|
|||66,874|614|67,488|
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Riding Mill Pre School Limited Notes to the Financial Statements
For the year ended 31 July 2023
## eee
## 5 Net income for the year Net income for the year is stated after charging accountant's fees of £nil (2022 Enil).
During the year no Trustees received any remuneration or benefits. No Trustees received reimbursement of travel and subsistence expenses.
|6|Staffcosts and numbers|||
|---|---|---|---|
||Staffcostswereas follows|31Jul|31Jul|
|||2023|2022|
|||£|£|
||Salariesandwages|51,076|48,526|
||Socialsecuritycosts|1,669|1,994|
||Employer's contribution to defined contribution pensionschemes|775|1,180|
|||53,520|51,700|
## No employee earned more than £60,000.
The company makes contrubtions to a stakeholder defined contribution pension scheme for the benefit of the employees. The assets of the scheme are administered by an independent pensions provider, NEST Pensions.
||31 Jul|31 Jul|
|---|---|---|
||2023|2022|
|Theaverage number ofemployees duringthe period wasasfollows:|||
||Number|Number|
|Direct charitable activities|4.1|4.7|
|Supportand governance|-|-|
||4.1|4.7|
## 7 Taxation
The charitable company is exempt from corporation tax as all of its income is charitable and is applied for charitable purposes.
15
Riding Mill Pre School Limited
Notes to the Financial Statements
For the year ended 31 July 2023
## 8 Tangible fixed assets
|8|Tangible fixed assets|||
|---|---|---|---|
|||Furniture and||
|||Equipment|Total|
|||£|£|
||Cost|||
||At 1 August 2022|ZATT|GATT|
||Additions|=|5|
||Disposals|-|-|
||At31July2023|7,177|7,177|
||Depreciation|||
||At 1 August 2022|5,704|5,704|
||Provided in the year|1,337|1,337|
||Disposals|-|-|
||At31July2023|7,041|7,041|
||Net book amount at 31 July2023|136|136|
||Net bookamount at 31 July 2022|1,473|1,473|
|||31 Jul|31 Jul|
|9|Debtors|2023|2022|
|||£|E|
||Trade debtors|-|.|
|||31 Jul|31 Jul|
|10|Creditors:amountsfalling due within oneyear|2023|2022|
|||£|£|
||Accurals|259|844|
16
Riding Mill Pre School Limited Notes to the Financial Statements
For the year ended 31 July 2023
## ee
## 11 Analysis of net assets between funds
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||||||||
|---|---|---|---|---|---|---|
|General|Designated|_|Restricted|Total funds|
|unrestricted|
|z|£|fe|£|
|Tangible fixed|assets|136|-|-|136|
|Net current|assets|29,521|-|-|29,521|
|29,657|-|-|29,657|
|Movements|in|funds|
|At the|start|Incoming|Outgoing|At the end|
|of the|year|resources|resources|Transfers|of the year|
|£|£|£|£|£|
|Restricted|funds|-|-|-|-|-|
|Unrestricted|funds|
|Designated|funds|-|-|-|-|-|
|General|funds|54,596|42,864|(67,803)|-|29,657|
|Total|unrestricted funds|54,596|42,864|(67,803)|-|29,657|
|Total funds|54,596|42,864|(67,803)|.|29,657|
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## 12 Movements in funds
Purposes of designated funds: no designated funds were held at the year end
## 13 Related party transactions
During the year £169 was paid to Carole Smith and £26 paid to Jennifer Stephenson, both Trustees of the charity. The payments were the reimbursement of expenditure incurred on behalf of the charity.
17
Riding Mill Pre School Limited
## Management Information
## For the year ended
31 July 2023 a
## Information for Trustee/Committee Meeting
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|||||||
|---|---|---|---|---|---|
|2023|2022|
|Receipts|
|Fees|and|grants|38,841|62,071|
|Fundraising|3,899|2,247|
|Interest|received|66|Ly|
|Other|income|58|1,939|
|42,864|66,273|
|Payments|
|Wages,|Tax and|NI|53,520|51,912|
|Rent|6,000|5,000|
|Insurance|614|597|
|Fundraising|314|0|
|Equipment|and|Other|Expenses|7,354|8,589|
|67,803|66,098|
|(Deficit)/ Surplus|of income over expenditure|(24,939)|175|
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18