Registered Number: 06025001 Charity Number: 1118021
KINGS HILL PRE-SCHOOL (A company limited by guarantee)
UNAUDITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
KINGS HILL PRE-SCHOOL (A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its trustees and advisers | 3 |
| Directors' report | 4 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance Sheet | 8 |
| Notes to the financial statements | 9 - 14 |
KINGS HILL PRE-SCHOOL
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2023
Directors
Sherri Revell Elizabeth Benge Nicole Dixon Stephanie Guthrie Hanna Louise Woodfall - appointed at 11th July 2023. Claire Marie Eastmead - appointed at 11th July 2023. Catherine Coldwell - appointed at 19th July 2023. Nicola Joanne Parker - appointed at 19th July 2023.
Company registered number
6025001
Charity registered number
1118021
Registered office
70 Gibson Drive Kings Hill West Malling Kent ME19 4LG
Company Secretary Kirsty Johns
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KINGS HILL PRE-SCHOOL
(A company limited by guarantee)
DIRECTORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2023
The Directors (who are also trustees of the charity for the purposes of the Companies Act) present their annual report together with the financial statements of Kings Hill Pre-School (the company) for the year ended 31 August 2023. The Directors confirm that the Annual report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice FRS102 (effective January 2015), including the second edition of the FRS102 SORP that is effective for reporting periods beginning on or after 1 January 2019.
Structure, governance and management
CONSTITUTION
Kings Hill Pre-School was incorporated as a company limited by guarantee on 11 December 2006 (company number 6025001) and is governed by its memorandum and articles of association. The company is also registered as a charitable company limited by guarantee. The company is controlled by the Directors who also act as Trustees.
The company is constituted under a Trust deed and its registered charity number 1118021.
ORGANISATIONAL STRUCTURE AND DECISION MAKING
The charity laws are upheld by the company secretary with the treasurer ensuring the business remains financially viable. The Chair liaises with both parties on a regular basis. Day to day operations are overseen by the directors with major decisions decided by vote at committee meetings which take place every 4-6 weeks. The committee consists of directors and the manager of the Pre-School.
Directors are appointed by vote amongst members of the committee. No official training has been undertaken by the members. Advice has been sought from appropriate sources as and when matters beyond the capabilities of the committee have arisen.
POLICIES AND OBJECTIVES
In setting objectives and planning for activities, the directors have given due consideration to general guidance published by the charity commission relating to public benefit and in particular to its supplementary public benefit guidance on its facilities to those on low income.
The principal object of the company is to enhance the development and education of children primarily under statutory school age. There have been no changes in the objectives since the last annual report.
Achievements and performance
REVIEW OF ACTIVITIES
The pre-school is still as popular as ever and has again been at full capacity for the year. The waiting list continues to grow and new registrations for 2024 , 2025 & 2026 are being received. We are continuing our talks with the Parish Council and Liberty Property Trust to expand the outside space we currently have alongside the expansion work of the community centre. We continue to accept the 30 hours government funding for eligible children.
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KINGS HILL PRE-SCHOOL
(A company limited by guarantee)
DIRECTORS' REPORT (continued)
FOR THE YEAR ENDED 31 AUGUST 2023
RESERVES POLICY
Since opening we have managed to build a reserve fund in order to allow the pre-school to operate in leaner times. It is our aim to maintain a reserve fund to cover:
-
at least three terms running costs (£45,000)
-
staff redundancy (£2,000 for each year following 2 years opening)
-
wear and tear of fixtures and fittings (£4,000 per year of opening)
-
replacement of toys and equipment (£3,000 per year)
In preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the Directors on 2nd November 2023 and signed on their behalf, by:
Elizabeth Benge
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KINGS HILL PRE-SCHOOL
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2023
INDEPENDENT EXAMINER'S REPORT TO THE DIRECTORS OF KINGS HILL PRE-SCHOOL
I report to the trustees on the financial statements of the company for the year ended 31 August 2023.
Having satisfied myself that the financial statements of the charity are not to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 matter has come to my attention in connection with the examination giving me cause to believe that in any material respect:
(1) accounting records were not kept in respect of the charity as required by section 130 of the Charities Act, or
(2) the financial statements do nor accord with those records, or
(3) the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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
(4) the financial statements 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 (FRS102).
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 financial statements to be reached.
Signed: 01/11/2023
Louis Whaley AFA; on behalf of LRK Accounting & Tax
Relevant professional qualification(s) or body:
AFA, Institute of Financial Accountants (IFA)
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KINGS HILL PRE-SCHOOL
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (Incorporating Income and Expenditure Account) FOR THE YEAR ENDED 31 AUGUST 2023
| Note INCOMING RESOURCES Incoming resources from generated funds: Voluntary income 2 Activities for generating funds 3 Investment income 4 Incoming resources from charitable activities 5 TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of generating funds: Costs of generating voluntary income Charitable activities 6 Governance costs 7 TOTAL RESOURCES EXPENDED MOVEMENT IN TOTAL FUNDS FOR THE YEAR - NET INCOME/(EXPENDITURE) FOR THE YEAR Total funds as at 1 September 2022 TOTAL FUNDS AT 31 AUGUST 2023 |
Restricted Unrestricted Total Total Funds Funds Funds Funds 2023 2023 2023 2022 £ £ £ £ - 800 800 5,987 - 714 714 196 - 322 322 5 - 194,698 194,698 172,329 - 196,535 196,535 178,517 - - - - - 187,756 187,756 169,546 - 10,678 10,678 3,896 - 198,434 198,434 173,442 - ( 1,900) ( 1,900) 5,075 - 87,474 87,474 82,399 - 85,574 85,574 87,474 |
|---|---|
The notes on pages 9 to 14 form part of these financial statements.
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KINGS HILL PRE-SCHOOL (A company limited by guarantee)
BALANCE SHEET
AS AT 31 AUGUST 2023
| Note FIXED ASSETS Tangible assets 10 CURRENT ASSETS Stock 12 Debtors 12 Cash at bank and in hand CREDITORS:amounts falling due within one year 13 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CHARITY FUNDS Restricted funds Unrestricted funds |
2023 £ £ £ 14,892 - - 1,523 1,526 72,329 88,771 73,852 90,297 3,170) ( ( 2,961) 70,682 85,574 - 85,574 85,574 |
2022 £ 138 87,336 87,474 - 87,474 87,474 |
|---|---|---|
The Directors consider that the company is entitled to exemption from the requirements to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The Directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 August 2022 and of its net resources expended for the year then ended in accordance with the requirements of section 477 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements so far as applicable to the company.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements were approved by the Directors on 2nd November 2023 and signed on their behalf, by:
Elizabeth Benge
The notes on pages 9 to 14 form part of these financial statements.
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KINGS HILL PRE-SCHOOL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
1. ACCOUNTING POLICIES
1.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, and in accordance with Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The financial statements have been prepared in accordance with the Statement of Recommended Practice SORP102 (effective 1 January 2015), applicable accounting standards and the Companies Act 2006.
1.2 Company Status
The company is a company limited by guarantee. The members of the company are the Directors named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
1.3 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Directors in furtherance of the general objectives of the company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the company for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
1.4 Incoming resources
All incoming resources are included in the Statement of Financial Activities which the company is legally entitled to the income and the amount can be quantified with reasonable accuracy.
1.5 Resources expended
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
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KINGS HILL PRE-SCHOOL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
1. ACCOUNTING POLICIES (continued)
1.6 Tangible fixed assets and depreciation
All assets costing more than £100 are capitalised.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. 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:
Fixtures and fittings - 25% straight line
2. VOLUNTARY INCOME
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Restricted|Unrestricted|Total|Total|
|Funds|Funds|Funds|Funds|
|2023|2023|2023|2022|
|£|£|£|£|
|Donations|-|500|500|-|
|Grants|-|300|300|5,987|
|-|800|800|5,987|
|FUNDRAISING INCOME|
|Restricted|Unrestricted|Total|Total|
|Funds|Funds|Funds|Funds|
|2023|2023|2023|2022|
|£|£|£|£|
|Fundraising activities|-|714|714|196|
|Commissions|-|-|-|-|
|-|714|714|196|
----- End of picture text -----
3. FUNDRAISING INCOME
4. INVESTMENT INCOME
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Restricted|Unrestricted|Total|Total|
|Funds|Funds|Funds|Funds|
|2023|2023|2023|2022|
|£|£|£|£|
|Interest received|-|322|322|5|
----- End of picture text -----
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KINGS HILL PRE-SCHOOL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
5. INCOMING RESOURCES FROM CHARITABLE ACTIVITES
| Fees Government Funded Parent Funding Miscellaneous Funding Subtotal |
Restricted Unrestricted Total Total Funds Funds Funds Funds 2023 2023 2023 2022 £ £ £ £ - 137,216 137,216 95,600 - 49,766 49,766 66,186 - 7,716 7,716 10,543 - 194,698 194,698 172,329 - 194,698 194,698 172,329 |
|---|---|
6. DIRECT COSTS
| Play materials and equipment Food & consumables Staff training, welfare, travel & subs Rent, rates and utilities Repairs, maintenance and cleaning General admin costs Depreciation & profit on sale of assets (restricted) Depreciation & profit on sale of assets (unrestricted) Salary, National Ins and Pension |
Total Total 2023 2022 £ £ 4,104 6,837 5,416 4,189 2,504 1,035 13,711 9,436 2,084 1,462 3,359 3,846 - - 5,101 1,016 151,477 141,725 187,756 169,546 |
|---|---|
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KINGS HILL PRE-SCHOOL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
7. GOVERNANCE COSTS
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||||||
|---|---|---|---|---|
|Restricted|Unrestricted|Total|Total|
|Funds|Funds|Funds|Funds|
|2023|2023|2023|2022|
|£|£|£|£|
|Auditors' remuneration|-|-|-|-|
|Independent examiners' fee|-|150|150|150|
|Professional fees|-|6,535|6,535|2,186|
|Insurance|-|3,869|3,869|1,434|
|Bank charges|-|124|124|127|
|-|10,678|10,678|3,896|
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8. NET EXPENDITURE
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||||
|---|---|---|
|This is stated after charging:|
|2023|2022|
|£|£|
|Depreciation of tangible fixed assets & profit on sale:|
|- owned by the charity|5,101|1,016|
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No remuneration is paid to the Directors for the services as trustees of the Company and no Directors have been reimbursed for expenses in the year.
9. STAFF COSTS
Staff costs were as follows:
----- Start of picture text -----
||||
|---|---|---|
|2023|2022|
|£|£|
|Salaries, National Ins & Pension costs|151,477|141,725|
|151,477|141,725|
|The average monthly number of employees during the year was as follows:|
|No.|No.|
|10|11|
----- End of picture text -----
No employee received remuneration amounting to more than £60,000 in either year.
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KINGS HILL PRE-SCHOOL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
10. TANGIBLE FIXED ASSETS
| Cost At 1 September 2022 Additions Disposals At 31 August 2023 Depreciation At 1 September 2022 Charge for the year On disposals At 31 August 2023 Net book value At 31 August 2022 At 31 August 2023 11. STOCK Stock held 12. DEBTORS Trade debtors Other debtors Prepayments 13. CREDITORS Amounts falling due within one year Accruals and deferred income Trade Creditors Credit Card |
Fixtures & fittings £ 70,242 19,856 - 90,098 70,104 5,101 - 75,205 138 14,892 2023 2022 £ £ - - - - 2023 2022 £ £ 633 1,013 - - 890 513 1,523 1,526 2023 2022 £ £ 600 692 655 1,655 1,915 614 3,170 2,961 |
|---|---|
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KINGS HILL PRE-SCHOOL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Tangible fixed assets Current assets Creditors due within one year |
Restricted Unrestricted Total Total Funds Funds Funds Funds 2023 2023 2023 2022 £ £ £ £ - 14,892 14,892 138 - 73,852 73,852 90,297 - 3,170) ( 3,170) ( 2,961) ( - 85,574 85,574 87,474 |
|---|---|
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