High Cross Playgroup – Trustees Report
Year Ending 31 March 2024
This is the trustees’ annual report and audited accounts for the year ending March 2024 and confirm that they comply with the governing document of the charity; the Charities Act 2011 (as amended) and the Statement of Recommended Practice (2005): Accounting and Reporting by Charities.
In compliance with Charity Law in England and Wales, the trustees have the responsibility of ensuring that an annual report and financial statement are prepared in line Accounting Standards Board code of practice. The trustees have instructed an independent examiner to provide a financial statement. The report aims to provide a fair and accurate view of our charity’s situation and the incoming and outgoing finances of the group. The trustees have had regard to the guidance issued by the Charity Commission on public benefit in preparing this statement in particular the guidance regarding education and firmly believe our services sit within this aspect.
Aims and objectives
We are a charity providing safe, fun filled educational sessional and full-time day care for children aged two-to-five years within our local community. Our objectives are to provide affordable day care in a fair, open and equal opportunity environment, with a view to educating and developing children in readiness for school nursery and reception class at primary school. We support families in ensuring their children are achieving at their best potential by providing structured and fun learning and where necessary facilitating access to relevant services and organisations to provide wraparound support where additional needs are identified.
Structure and Governance
Our charity is governed by way of constitution which is the governing document of our group and is constituted as an unincorporated association.
Our charity trustees have control and management of the charity’s charitable activities. The trustees decide on the manner the charitable funds are used, in order to develop and provide a well-rounded service to members of our local community. In doing so, the trustees have had regard to the Charity Commission’s guidance on Public benefit. Potential trustees are interviewed and approved by the current trustees after relevant checks with the Disclosure and Barring Service and OfSted, to establish that the candidates are suitable to be engaged to work with children.
The trustees also work in collaboration with the staffing team and the management committee who have the delegated responsibility to ensure the setting is meeting their statutory duties and obligations, to review and provide updates on the group’s standing on a regular basis. Committee members are elected annually during our AGM meeting.
Year in summary
The group has continued to promote and seek new clientele over the year, with the aim of increasing client numbers. The group’s focus on further promoting its provision, has seen an increase in interest applications being made and those joining the setting ahead of a large cohort of individuals who will leaving at the end of the 2023 school year. The group continues to provide exceptional support to children with additional educational needs and has been able to successfully implement support network and services for families.
Financial overview and review
The group’s main source of income is through fees collected from fee paying clients, in conjunction with funding from local government authorities.
The group aims to ensure its financial stability by working to grow and maintain a surplus of unrestricted funds of three months operating costs. To enable free and ready access to funds to cover unexpected and unforeseen circumstances, our contingent reserves are not deployed into long-term investments. This is to ensure fund availability at short notice and provide flexibility given we work in a sector which is significantly affected by market forces.
The group continues to seek to minimise the impact of the financial challenges in the current economic climate and provide greater financial stability to the group by seeking competitive service. Whilst we continue to try and keep our fees as accessible as possible, we have had to increase fees. Whilst we have sought not to increase fees at the same rate as the upsurge in general market rates, it is likely that further increases will need to be made at a shorter intervals as we seek to reduce the impact on reserves whilst continue to provide a quality educational provision for our clients.
The financial report for the group has been independently assessed and is submitted alongside this report following approval on behalf of the trustees. This sets out the financial position of group.
The trustees apologise for the late submission of this report which was as a result of minor corrections that were needed to the submitted accounts.
Declaration
Signed on behalf of the trustees: N. Willocks-Briscoe
Signed:
Date: 16 February 2025
HIGH CROSS PLAYGROUP
ADMINISTRATIVE DETAILS
The trustees present their annual report and financial review for the year ended 31 March 2024. The accounts comply with the statutory requirements of the charity's governing document.
Registered and Postal Address Colsterworth Road Tottenham London N15 4BN Tel: 0208 216 9111
Sandria Willocks
Status, governing document, and constitution
The Playgroup is constituted as charitable organisation registered with the Charity Commission. It is administered under a constitution, which has been approved by the charity Commission.
Charity Registration No : 1117901
Trustees
Janine Stolz Natalia Willocks-Briscoe
Management Committee Natalia Willocks-Briscoe Janine Stolz Latoya Hall Angela Lazurus Tracy Reid Nadine Brown
Chairperson Treasurer Vice Treasurer Fundraiser Vice Fundraiser Secretary
Bankers
Alliance and Leicester Commercial Bank BBAM, Bridle Road Bootle Merseyside GIR 0AA
Independent Examiners
Atta & Co. Chartered Certified Accountants 32 Keir Hardie Estate, Springfield. London E5 9AT
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HIGH CROSS PLAYGROUP
Report of the trustees For the year ended 31 March 2024
The trustees present their report and the financial statements for the year ended 31 March 2024. The trustees who served during the year and up to the date of this report are set out on page 1.
Structure, governance, and management
High Cross Playgroup is a registered charity, registered from 8 February 2007 and the charity registration number is 1117901.
Objectives and activities
High Cross Playgroup is a multi-cultural Playgroup which provides sessional day care and preschool education for children under five years of age within the London Borough of Haringey. We aim:
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To provide a high quality of childcare in a safe, caring and stimulating environment.
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To work in partnership with Parents, Carers, Ofsted – Early Years and Haringey Council as part of the Children’s programme in planning the care and provision of services to children.
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To provide an educational and recreational resource for children under five, including those with special needs, and their parents/carers in the interests of social welfare and with the object of improving their conditions of life and giving them experience of and access to a wider environment (through outings etc)
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To advocate the policy of learning through play and to enable the children to become independent learners through the activities provided, thereby preparing the children for school and everyday life.
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To promote and encourage an inclusive childcare practise that is implemented throughout the Nursery by parents and staff and is shown in the admissions policy, equal opportunities policy, play equipment, activities organised, food, events and outings etc.
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To identify and monitor the individual needs of each child and develop appropriate childcare practices according to their needs. This is implemented through the Keyworker system.
Achievements and performance
High Cross Playgroup has spaces for approximately 40 children all with their own individual needs and the nursery charitable funds are used to advance the educational, recreational, and cultural opportunities to the children.
Financial review
The attached financial statement shows the current state of finances, which the committee consider to be satisfactory. During the period a loss of £13,289 was made, which reduced the surplus brought forward of £49,778 (see note 9) resulting in a surplus of £36,489 to be carried forward and will fund future developmental activities for the children.
Risk management
The management committee examine the major risks that the nursery faces each financial year when preparing and updating the strategic plan. The charity has developed systems to monitor and control these risks to mitigate any impact that they may have on the nursery in the future.
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HIGH CROSS PLAYGROUP
Report of the trustees’ responsibilities
Charity Law requires the Board to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to: -
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select suitable accounting policies and then apply them consistently.
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make judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are also responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2006. 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.
On behalf of the board
Natalia Willocks-Briscoe
Date: 16 February 2025
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HIGH CROSS PLAYGROUP
of Independent Examiner's report to the trustees on the unaudited financial statements High Cross Playgroup.
I report on the financial statements of High Cross Playgroup for the year ended 31 March 2024 which comprise the Statement of financial activities, the balance sheet and the related notes. These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities ( effective April 2008), under the historical cost convention and the accounting policies set out therein.
Respective responsibilities of trustees and independent examiner
As the charities trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act), as amended by s.28 of the Charities Act 2006 does not apply. It is my responsibility to examine the accounts under section 43 of the Act, as amended, to follow procedures specified in the General Directions given by the Charity Commissioners under section 43(7)(b) of the Act as amended, 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 Commissioners. 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 I do not express an audit opinion on the view given by the accounts.
Independent Examiner's statement
In connection with my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with Section 41 of the 1993 Act: and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act have not been met: or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
F. J. Atta-Dankwa, BG Independent exammer
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HIGH CROSS PLAYGROUP
STATEMENT OF FINANCIAL ACTIVITIES
Notes Unrestricted
| Incoming resources Voluntary Income 2 Investment income 3 Total incoming resources Resources expended Charitable expenditure: Direct charitable expenditure 4 Total resources expended Net incoming/(outgoing) resources before transfers Funds balance as at 1 April 2023 Funds balances as at 31 March 2024 10 |
Funds 2024 2023 £ £ 59,673 59,672 79,357 - - - |
|---|---|
| 59,673 59,672 79,357 |
|
| 72,962 72,962 80,278 |
|
| 72,962 72,962 80,278 |
|
| (13,289)(13,289) (921) 49,778 49,778 50,699 |
|
| 36,489 36,489 49,778 |
There were no recognised gains or losses for 2024 or 2023 other than those included in the Statement of the Financial activities
The charity's income and expenditure all relate to continuing operations.
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HIGH CROSS PLAYGROUP
BALANCE SHEET
AS AT 31 MARCH 2024
| BALANCE SHEET AS AT 31 MARCH 2024 |
||||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | |||||
| Notes | £ | £ | £ | £ | ||
| Current Assets | ||||||
| Debtors and prepayments | 7 | |||||
| Cash at bank and in hand | 37,139 | 37,139 | 50,478 | |||
| 37,139 | 50,478 | |||||
| Creditors: amounts falling due | ||||||
| within one year | 8 | (650) | (700) | |||
| Net current assets | 36,489 | 49,778 | ||||
| Total assets less current liabilities | 36,489 | 49,778 | ||||
| Funds: | ||||||
| Income funds | ||||||
| Unrestricted funds: | 9 | 36,489 | 49,778 | |||
| 36,489 | 49,778 |
The financial statements were approved by the trustees and signed on its behalf by
Natalia Willocks-Briscoe Trustee
Date: 16 February 2025
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HIGH CROSS PLAYGROUP
Notes to the Financial statements for the year ended 31 March 2024
1 Accounting policies
1.1 Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Statement of Recommended Practice "Accounting and Reporting by Charities issued in March 2005 (SORP 2005) and the Charities Act 2006.
1.2 Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.
Income from investments is included in the year in which it is receivable.
1.3 Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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HIGH CROSS PLAYGROUP
| HIGH CROSS PLAYGROUP | ||
|---|---|---|
| Notes to the Financial statements for the year ended 31 March 2024 2 Voluntary income Fees and Grants Receivable Fees Received Fundraising Total 3 Investment income Bank interest receivable 4 Expenses in furtherance of Charitable Objects Direct Charitable Cost Food & Drinks Staff Emolument Training Rent Security Check Administrative Expenses Workplace pension Subscription and Inspection Staff Uniforms Printing, Postage and Stationery Telephone Outing & Fun Day Insurance Nursery Equipment & Play Material Bank Charges Professional Fees – Accountancy |
2024 £ 52,048 7,625 0 |
|
| 59,673 | ||
| - | ||
| - | ||
| 3,275 55,783 0 5,516 100 1,488 2,205 50 0 243 2,390 0 584 678 650 |
||
| **72,962 ** |
No employee received emolument more than £60,000 either in 2024 or 2023
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HIGH CROSS PLAYGROUP
| Notes to the Financial statements for the year ended 31 March 2024 No of Employees 7 Debtors Accruals and Prepayments 8 Creditors Payable within 1year Accruals & Deferred Income Other Creditors 9 Summary of Funds Movements General Reserves Restricted Reserves Total |
Balance at 01.04.23 Incoming Resources £ £ 49,778 59,673 |
2024 5 - |
2023 5 - |
|
|---|---|---|---|---|
| - | - | |||
| 650 | 700 | |||
| 650 | 700 | |||
| Outgoing Resources Balance at 31.03.24 £ £ (72,962) 36,489 |
||||
| 49,778 59,673 |
(72,962) 36,489 |
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