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2021-08-31-accounts

Charity Registration No. 1118313 Company No. 05743772

ST MARGARETS PRE-SCHOOL LACEBY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

ST MARGARETS PRE-SCHOOL LACEBY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees D. Lepley G. Allen A. Scott K. Serls G. Dolby Charity number 1118313 Independent examiner A P Robinson & Co (Grimsby) LLP Chartered Accountants 107 Cleethorpe Road Grimsby North East Lincolnshire DN31 3ER

ST MARGARETS PRE-SCHOOL LACEBY

CONTENTS

Page(s)
Trustees report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance Sheet 5
Notes to the financial statements 6 - 12

ST MARGARETS PRE-SCHOOL LACEBY

TRUSTEES REPORT

FOR THE YEAR ENDED 31 AUGUST 2021

The trustees present their report and financial statements for the year ended 31 August 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and Activities

Objectives and aims

The charity's objects are to provide pre-school provision for children aged 2-4 years. The policies adopted in furtherance of these objects are within the company's memorandum and articles of association and there has been no change in these during the year.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and Performance

Financial review

The charity made a deficit during the year ending 31 August 2021 of £10,469 (2020 surplus: £1,954). All of the funds are unrestricted and amount to £41,464 (2020: £51,933)

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a company limited by guarantee.

The members of the trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

D. Lepley G. Allen A. Scott K. Serls G. Dolby

None of the members of the trustees has any beneficial interest in the company. All of the members of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

1

ST MARGARETS PRE-SCHOOL LACEBY

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2021

The trustees report was approved by the Board of Trustees.

Ms D. Lepley

Trustee Dated: 29 April 2022

2

ST MARGARETS PRE-SCHOOL LACEBY

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ST MARGARETS PRE-SCHOOL LACEBY

I report to the trustees on my examination of the financial statements of St Margarets Pre-School Laceby (the charity) for the year ended 31 August 2021.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

Having satisfied myself that the financial statements of the charity 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 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 matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

Andrew Robinson BCom (Hons), FCA A P Robinson & Co (Grimsby) LLP Chartered Accountants 107 Cleethorpe Road Grimsby North East Lincolnshire DN31 3ER

Dated: 29 April 2022

3

ST MARGARETS PRE-SCHOOL LACEBY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2021

----- Start of picture text -----
Unrestricted Total
funds
2021 2020
Notes £ £
Income from:
Donations and legacies 3 81,570 100,200
Charitable activities 4 14,339 17,784
Total income 95,909 117,984
Expenditure on:
Charitable activities 5 106,378 116,031
Total resources expended 106,378 116,031
Net outgoing resources before transfers ( 10,469) 1,954
Net income for the year/
Net movement in funds ( 10,469) 1,954
Fund balances at 31 August 2020 51,933 49,979
Fund balances at 31 August 2021 41,464 51,933
----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

4

ST MARGARETS PRE-SCHOOL LACEBY

BALANCE SHEET

AS AT 31 AUGUST 2021

----- Start of picture text -----
2021 2020
Notes £ £ £ £
Fixed assets
Tangible assets 8 1,312 1,136
1,312 1,136
Current assets
Debtors 10 68 17
Cash at bank and in hand 43,190 53,593
43,258 53,610
Creditors: amounts falling due within one
year 11 ( 3,107) ( 2,813)
Net current assets 40,151 50,797
Total assets less current liabilities 41,464 51,933
Income funds
Unrestricted funds
General unrestricted funds 41,464 51,933
41,464 51,933
41,464 51,933
----- End of picture text -----

The financial statements were approved by the Trustees on: 29 April 2022.

Ms D. Lepley Trustee

Company Registration No. 05743772

5

ST MARGARETS PRE-SCHOOL LACEBY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

1 Accounting policies

Charity information

St Margarets Pre-School Laceby is a private company limited by guarantee incorporated in England and Wales. The registered office is 107 Cleethorpe Road, Grimsby, North East Lincolnshire, DN31 3ER.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in Sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

6

ST MARGARETS PRE-SCHOOL LACEBY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

1 Accounting policies (Continued)

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

1.5 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment; 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.6 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

7

ST MARGARETS PRE-SCHOOL LACEBY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

8

ST MARGARETS PRE-SCHOOL LACEBY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

1.10 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Endowment
£
NELC placement funding
73,064
Coronavirus Job Retention Scheme
8,506
Lincolnshire Com Laceby
-
81,570
4
Charitable activities
Unrestricted
£
Private child care
14,024
Other income
315
14,339		 Total
2021
£
73,064
8,506
-
81,570
Total
2021
£
14,024
315
14,339		 Total
2020
£
81,093
-
5,000
86,093
Total
2020
£
17,467
317
17,784

9

7 Employees

ST MARGARETS PRE-SCHOOL LACEBY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

5
Charitable activities
Staff costs
Depreciation and impairment
Insurance
Repairs and maintenance
Telecommunications
Printing, postage and stationery
Sundry expenses
Legal fees
Advertising
Rent
Other charitable expenditure
Share of governance costs		 Total
2021
£
91,289
362
282
49
717
1,139
3,414
128
130
7,116
1,091
105,717
662
106,378		 Total
2020
£
95,190
547
251
6,552
1,098
1,005
3,617
208
-
5,666
1,235
115,369
662
116,031

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

The average monthly number of employees during the year was:

Carers
Wages and salaries
Other pension costs		 2021
Number
9
2021
£
87,984
943
88,927		 2020
Number
9
2020
£
90,354
1,292
91,647

There were no employees whose annual remuneration was £60,000 or more.

10

ST MARGARETS PRE-SCHOOL LACEBY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

----- Start of picture text -----
8 Tangible fixed assets
Fitures, fittings & equipment
£
Cost
At 1 September 2020 2,574
Additions in year 538
At 31 August 2021 3,112
Depreciation and impairment
At 1 September 2020 1,438
Depreciation charge in year 362
At 31 August 2021 1,800
Carrying amount
At 1 September 2020 1,136
At 31 August 2021 1,312
9 Financial instruments
2021 2020
£ £
Carrying amount of financial assets
Debt instruments measured at amortised costs 68 17
Carry amount of financial liabilities
Measured at amortised costs 3,107 2,283
10 Debtors
2021 2020
£ £
Amounts falling due within one year:
Trade debtors 68 17
68 17
11 Creditors: amounts falling due within one year
2021 2020
£ £
Accruals and deferred income 2,694 662
Other taxation and social security 126 1,621
Pension 288 -
3,107 2,283
----- End of picture text -----

11

ST MARGARETS PRE-SCHOOL LACEBY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

12 Related party transactions

There were no disclosable related party transactions during the year (2020 - none).

12

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N/C Name Debit Credit Balance Opening Adjustments Reanalysis of Accounts Duplicated CA trans on SA Depreciation Accruals Wages Bank rec W/O bank difference Prepayments Amended balance Absolute balance Mapping Mapping Fund Fund
200 Sales 16,302.00 - 16,302.00 64.00 547.00 1,667.00 - 14,024.00 14,024.00 Income from: Charitable activities Private child care General unrestricted funds Unrestricted funds
260 Other Revenue 106,895.74 - 106,895.74 11,544.85 22,287.00 - 73,063.89 73,063.89 Income from: donations and legacies NELC placement funding General unrestricted funds Unrestricted funds
270 Interest Income 0.19 - 0.19 - 0.19 0.19 Income from: donations and legacies NELC placement funding General unrestricted funds Unrestricted funds
311 Resources 1,508.53 1,508.53 - 5.68 - 56.97 1,445.88 1,445.88 Charitable activities Staff costs General unrestricted funds Unrestricted funds
320325 Direct WagesDirect Expenses 27,703.481,095.04 27,703.481,095.04 - - 22,625.14978.76 - - 5,078.34116.28 87,984.34 87,984.34- 87,984.34- Charitable activitiesCharitable activities Wages and salariesStaff costs General unrestricted fundsGeneral unrestricted funds Unrestricted fundsUnrestricted funds
400 Advertising & Marketing 680.10 680.10 - 550.00 130.10 130.10 Charitable activities Advertising General unrestricted funds Unrestricted funds
401 Audit & Accountancy fees 396.80 396.80 - 204.00 - 192.80 661.50 661.50 661.50 Charitable activities Share of governance costs General unrestricted funds Unrestricted funds
404 Bank Fees 78.00 78.00 - 6.00 - 8.63 63.37 63.37 Charitable activities Other charitable expenditure General unrestricted funds Unrestricted funds
408 Cleaning 1,228.14 1,228.14 - 103.74 - 75.61 1,048.79 1,048.79 Charitable activities Sundry expenses General unrestricted funds Unrestricted funds
418420 Charitable and Political DonationsEntertainment-100% business 233.49185.60 185.60233.49 - 233.4946.60 - 92.80 139.40- 139.40- Charitable activitiesCharitable activities Other charitable expenditureOther charitable expenditure General unrestricted fundsGeneral unrestricted funds Unrestricted fundsUnrestricted funds
429 General Expenses 1,740.16 1,740.16 688.83 - 63.95 2,365.04 2,365.04 Charitable activities Sundry expenses General unrestricted funds Unrestricted funds
433 Insurance 282.15 282.15 282.15 282.15 Charitable activities Insurance General unrestricted funds Unrestricted funds
461 Printing & Stationery 337.71 337.71 337.71 337.71 Charitable activities Printing, postage and stationery General unrestricted funds Unrestricted funds
463 IT Software and Consumables 725.12 725.12 - 20.14 704.98 704.98 Charitable activities Printing, postage and stationery General unrestricted funds Unrestricted funds
469 Rent 7,116.00 7,116.00 7,116.00 7,116.00 Charitable activities Rent General unrestricted funds Unrestricted funds
480 Staff Training 942.96 942.96 - 27.00 915.96 915.96 Charitable activities Staff costs General unrestricted funds Unrestricted funds
482 Pensions Costs 374.35 374.35 - 374.35 942.85 942.85 942.85 Charitable activities Other pension costs General unrestricted funds Unrestricted funds
485 Subscriptions 1,756.08 1,756.08 - 1,134.85 - 82.98 538.25 538.25 Charitable activities Other charitable expenditure General unrestricted funds Unrestricted funds
489 Telephone & Internet 211.16 211.16 650.13 - 144.77 716.52 716.52 Charitable activities Telecommunications General unrestricted funds Unrestricted funds
501 Stripe FeesDepreciationLegal 155.42 155.42-- 128.00 362.46 155.42362.46128.00 155.42362.46128.00 Charitable activitiesCharitable activitiesCharitable activities Other charitable expenditureDepreciation and impairmentLegal fees General unrestricted fundsGeneral unrestricted fundsGeneral unrestricted funds Unrestricted fundsUnrestricted fundsUnrestricted funds
425 Postage, Freight & CourierDay TripsRepairs and MaintenanceGrant for New RoofFundraisingJRS IncomeBarclays Business Banking Savi 15.980.19 15.980.19----- - - - 8,505.78194.75315.0079.9048.990.19 - - 8,505.78315.00194.7595.8848.99-- 8,505.78315.00194.7595.8848.99-- Charitable activitiesIncome from: Charitable activitiesIncome from: donations and legaciesCharitable activitiesCharitable activitiesIncome from: donations and legaciesCash at bank and in hand grant for New RoofCoronavirus Job Retention SchemeCash at bank and in handOther charitable expenditurePrinting, postage and stationeryRepairs and maintenanceOther income General unrestricted fundsGeneral unrestricted fundsGeneral unrestricted fundsGeneral unrestricted fundsGeneral unrestricted fundsGeneral unrestricted funds Unrestricted fundsUnrestricted fundsUnrestricted fundsUnrestricted fundsUnrestricted fundsUnrestricted funds
Business Savings Accounts 38,283.15 38,283.15 0.19 - 15,962.14 - 483.37 75.61 21,913.44 21,913.44 Cash at bank and in hand Cash at bank and in hand
Business Current Account 21,874.88 21,874.88 - 1,175.00 20,699.88 20,699.88 Cash at bank and in hand Cash at bank and in hand
610 Accounts Receivable 68.00 68.00 68.00 68.00 Debtors Trade debtors
710 Office Equipment 1,197.61 1,197.61 - 638.73 - 558.88 - - Tangible assets Freehold land and buildings depreciation charged in the year
764 Plant and MachineryAdditions 2,573.92 2,573.92- 537.99 2,573.92537.99 2,573.92537.99 Tangible assetsTangible assets Fitures, fittings & equipment CostAdditions in year
765 Less Accumulated Depreciation on Plant and MachineryDepreciation 1,252.43 - 1,252.43- - 184.59 - 362.46 - - 1,437.02362.46 1,437.02362.46 Tangible assetsTangible assets Fitures, fittings & equipment Depreciation and impairmentDepreciation charge in year
7850 Petty cash 577.02 577.02 577.02 577.02 Cash at bank and in hand Cash at bank and in hand
805814 AccrualsWages Payable - Payroll 65,049.27 661.50 - 65,049.27661.50 - 17,936.111,370.61 - 661.50 - 82,985.38 - 2,693.61- 2,693.61- Creditors: Amounts falling due within one yearCreditors: Amounts falling due within one year Accruals and deferred incomeNet wages
825 PAYE Payable 1,265.24 - 1,265.24 4,689.03 - 3,549.54 - 125.75 125.75 Creditors: Amounts falling due within one year Other taxation and social security
858 Pensions Payable 2,104.43 2,104.43 - 2,392.27 - 287.84 287.84 Creditors: Amounts falling due within one year Pension
960 Retained Earnings 52,117.64 - 52,117.64 184.59 - 51,933.05 51,933.05 Fund balances at 31 August 2020 0 General unrestricted funds Unrestricted funds
178,494.74 178,494.74 - - - 0.00 - - - - - - -
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