Trustees Report for Kea Pre school Ltd 2021
Objectves and Actvites
To provide child care in safe environment from early years prior to attending state full time education.
To provide breakfast and after school facilities for children up to 11 years of age to create the learning environment and allow parents to work.
To provide a mixed curriculum to all children in our care.
To contribute successfully to local community and main school.
Achievements and Performance
To provide fully trained staff in order to provide safe, educational and fun for all children in our care.
To continually train and support staff to the highest level in all aspects child care.
To maintain the prospect of maintaining and improving on our recent GOOD Ofsted report. To ensure that we provide a high level of client satisfaction for both children and parents. To pay and reward staff appropriately whilst providing a very competitive charge structure To continually review our policies, terms and conditions for both children parents and staff.
Financial Review
To comply with Charities recommendations in respect of our funds and maintain a sufficient level to provide further support.
To upgrade premises and resources as and when required and ensure staff training is provides us with breath of knowledge and understanding required.
To ensure our income is used wisely and regularly reviewed .
The trustees declare that they have approved the trustees report above
Signed
Name of Trustees Stuart Pearson
Date
Company registration number: 6701980 Charity registration number: E127048 Kea Preschool Ltd (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2021 Clark Jenner Angove Accountants Ltd The Old Workshop 59 Church Way Falmouth Cornwall TRII 4SG
Kea Preschool Ltd Contents Reference and Administrative Detsils Accountants, Report Independent Examiner's Report 3É04 Statement of Financial Activities 5t06 Balance Sheet 7t08 Notes to the Financial Ststements 9t020
Kea Preschool Ltd Reference and Administrative Details Trustees David Charles Gibson Clewlow Stuart Anthony Pearson Janine Allen Principal Office Kea Preschool Ltd Kea Truro Cornwall TR3 6AY The charity is incorporated in England. 6701980 Company Registration Number Charity Registration Number 1127048 Independent Examiner Clark Jenner Angove Accountants Ltd The Old Workshop 59 Church Way Falmouth Cornwall TRI14SG Page I
Accountants, Report to the Trustees on the Preparation of the Unaudited Statutory Accounts of K¢4 Preschool Ltd for the Year Ended 31 December 2021 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Kea Preschool Ltd for the year ended 31 December 2021 as set out on pages 5 to 20 from the company's accounting records and from inforniation and explanations you have given us. As a practising member of the Chartered Institute of Taxation (CIOT). we are subject to its ethical and otheT professional requirements which are detailed at httP:/lwww.ciot.orglciot]/professional-standards-mernber-rulesl]. This report is rnade solely to the Board of Directors of Kea Preschool Ltd. as a body. in accordance with the tem]s of our engagement letter. Our work ha5 been undertaken solely to prepare for your approval the accounts of Kea Preschool Ltd and state those matters that we have agreed to state to the Board of Directors of Kea Preschool Ltd, as a body, in this report in accordance with CIOT Technical Release 07116 AAF. To the fullest extent pennitted by law, we do not accept or assume responsibility to anyone other than Kea Preschool Ltd and its Board of Dire¢tOTS as a body for our work OT for this report. It is your duty to ensure that Kea PTeschool Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities. financial position and results of Kea Preschool Ltd. You consider that Kea Preschool Ltd is exempt from the ststutory audit requirement for the year. We have not been instructed to Ca out an audit or a review of the accounts of Kea Preschool Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or inforn]ation and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. 22 August 2022 Page 2
Kea Preschool Ltd Independent Examiner's Report to the trustees of Kea Preschool Ltd I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 December 2021 which are set out on pages 5 to 20. Respective responsibilities of trustees and examiner As the charity's trustees of Kea Preschool Ltd (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounls of Kea Preschool Ltd 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 your charity's accounts as carried out under section 145 of the Charities Act 201 I ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5){b) of the 2011 Act. Ind¢p¢ndent examiner's statement I have completed my examination. I confinn that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in restK¢t of Kea Preschool Ltd as required by section 386 of the 2006 Act" or 2. the accounts do not accord with those records" or 3. the accounts do not comply with the ac¢ountin8 requirements of section 396 of the 2006 Act 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 accounts 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 a¢¢ounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have corne 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 accounls to be reached. Jayne Angove The Old Workshop 59 Church Way Falmouth Cornwall TRI14SG Page 3
Kea Preschool Ltd Independent Examiner's Report to the trustees of Kea Preschool Ltd 22 August 2022 Trustees Re ort for Kea Pre school Ltd 2021 To provide child care in safe environment from early yeats prior to attending state full time education. To provide breakfast and after school facilities for children up to I l years of age to create the leaming environment and allow parents to work. To provide a mixed curriculum to all children in our care. To contribute successfully to local community and main school. vement nc To provide llY trained staff in order to provide safe, educational and fun for all Children in our care. To continually train and support staff to the highest level in all aspects child care. To maintain the prospect of maintsining and improving on our recent GOOD Ofsted report. To ensure that we provide a high level of client satisfaction for both children and parents. To pay and reward staff appropriately whilst providing a very competitive charge structure To continually review our policies, terms and conditions for both childTen parents and staff. Fina To comply with Charities recommendations in respect of our funds and maintain a sufficient level to provide fither support. To upgrade premises and resources as and when required and ensure staff training is provides us with breath of knowledge and understanding required. To ensure our income is used wisely and regularly reviewed . The trustees declare that the have approved the trustees report above Signed Name of Trustees Stuart Pearson Date Page 4
Kea Presehool Ltd Statement of Financial Activities for the Year Ended 31 December 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2021 Note Income And Endowments from: Donations and legacies Charitable activities Investtnent income 172 190,025 46 172 190,025 46 Tolal income 190,243 190,243 Expenditure on: Charitable activities 175,151) (175,151) Total expenditure Net income (175.151) (175,151) 15.092 15,092 Net movement in fimds 15.092 15.092 Reconciliation of funds Total funds brought forward Total funds carried forward 93,041 93,041 108.133 Total 2020 17 108,133 Unrestricted funds Note Income and Endowments from: Donations and legacies Charitable activities Other trading activities Inv¢stment income 217 185.566 41 67 217 185,566 41 67 Total income 185,891 185,891 Expenditure on: Charitable activities (197,776) (197,776) (11,885) (197,776) (197,776) (11,885) Total expenditure Net expenditure Net movement in funds (11,885) (11,885) Reeonciliation of funds Total fijnds brought fonvard 104,926 104,926 Page 5
Kea Preschool Ltd Statement of Financial Activities for th¢ Year Ended 31 December 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Loss¢s) Unrestrieted funds Total 2020 Not¢ Total funds carried forward 17 93,041 93,041 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 17. Page 6
K¢a Preschool Ltd (Registration number: 6701980) Balance Sheet as at 31 December 2021 2021 2020 Note Fixed assets Tangible &ssets Current as$¢ts Debtors Cash at bank and in hand 12 40,273 54.348 13 14 2,283 72,217 74,500 (2,573) 71,927 1,153 63,531 64,684 (25.991) 38,693 Creditors: Amounts falling due within one year Net eurrent asset5 15 Total assets less current liabilities 112,200 93,041 Creditors: Amounts falling due after more than one year 16 (4.067) 108.133 Net assets 93.041 Funds of the charity: Unrestricted income funds Unrestricted funds 108.133 108,133 93.041 93.041 Total funds 17 For the financial year ending 31 December 2021 the charAty was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The metnbers have not iequired the charity to obtain an audit of its accounts for the year in question in accordance with section 476. and The directors a¢knowledg¢ their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. Page 7
Kea Preschool Ltd (Registration number: 6701980) Balance Sheet as at 31 December 2021 The flnancial statements on pages 5 to 20 were approved by the trustees, and authorised for issue on 22 August 2022 and signed on their behalf by: Stuart Anthony Pearson Trustee Pag¢ 8
K¢2 Preschool Ltd Notes to tbe Financial Statements for the Year Ended 31 December 2021 I Charity status The Charity is limited by guarantee, incorporated in England, and consequently does not have shar¢ capital. Each of the truste¢s is liable to contribute an amount not exceeding £10 towards the &ssets of the charity in the event of liquidation. The address of its registered office is.. Kea Preschool Ltd Kea Tnjro Cornwall TR3 6AY These financial statements were authorised for issue by the trustees on 22 August 2022. 2 Accounting polieies Summary of significant accounting policies and key accounting ¢stimate$ The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented. unless othen¥ise stated. Statement of ¢ompliance 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 l January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 201 I. Basis of preparation Kea Preschool Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction valu¢ unless otherwise stated in the relevant accounting policy notes. Going eoncern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the CaIng value of assets held by the chaLIty. Pag¢ 9
Kea Pres¢hool Ltd Notes to the Financial Statements for the Year Ended 31 De¢¢mber 2021 Exemption from preparlng a cash flow statement The charity opted to early adopt Bulletin I published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. Income and endowments All income is recognised once the charity has entitlement to the incorne, it is probable that the income will be received and the arnount of the income receivable can be measured reliably. Donaled services andfaeililies Where services or facilities are provided to the charity as a donation that would norn]ally be purchased from our suppliers, this benefit is included in the financial statements al it's fair value unless il's fair value cannot be reliably measured, then at the cost to th¢ donor or the resale value of goods that are to be sold. Expenditur¢ All expenditure is recognised once there is a legal or constructive obligation to that expenditure. it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Charitable activilies 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. Taxation The Charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Page 10
Kea Preschool Ltd Notes to the Financial Statements for the Year Ended 31 December 2021 Exemption from preparing a cash flow statement The charity opted io early adopt Bulletin I published on 2 February 2016 and have therefore not included a cash flow statement in these fmancial statements. In¢ome and endowments All income is Tecognised once the charity has entitlement to the income. it is probable that the income will be received and the amount of the income receivable can be measured reliably. Donated services andfacilities Where services or facilitie5 are provided to the charity as a donation that would nonnally be purchased from our supplier5, this Ixnefit is included in the financial statements at it's fair value unless it's fair value cannot be Teliably m¢asured. then at the cost to the donor or the Tesale value of goods that are to be sold. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement Is required and the arnount can be measured reliably. All costs aTe allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attribufrd to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Charitable activities Charitable expenditure cornprises 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. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or Capital gains received within categories covered by Chapter 3 Part L l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Page 10
Kea Preschool Ltd Notes to the Financial Statements for the Year Ended 31 December 2021 Tangible fixed assets Individual fixed assets costing £250 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impainnant losses Depreciation and amort15ation Depreciation is provided on tangible fjxed assets so as to write off the c05t or valuation, less any estimated residual value, over their expected use1 economic life as follows.. Asset class Property Plant & Machinery Depreciation method and rate IOO/o Straight line basis 250/0 Reducing balance basis Trade debtors Trade debtors are amounts due from customers for m¢whandise sold or services perfornied in the ordinary course of busine5S. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cosl using the effective interest method, less provision for impaimient. A PTovision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original tem]s of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-terni highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade creditors Trade creditors are obligations to pay for goods OT services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Page 11
Kea Preschool Ltd Notes to the Financial Statements for the Year End¢d 31 December 2021 Borrowings Interest-beaTing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at aLnortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a chaTge to the Ststement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as cuent liabilities unless the charity has an unconditionaI right to defer settlement of the liability for at least twelve months after the reporting date. Foreign exchange Transactions in foffign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foTeign currencies at the balance sheet date are reported at the rates of exchange prevailing at that dat¢. The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rales ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are Teported in other comprehensive incom¢ and accumulated in equity {attrAbuted to non-controlling interests as appropriate). Other exchange differences are recognised in the Statement of Financial Activitie5 in the peiiod in which they arise except for.. l) exchange differences on transactions entered into to hedge certain foreign CuenCY risks (see above). 2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income. and 3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settletnent is neither planned nor likely to OCCUT {therefore fomiing part of the net investtnenl in the foreign operation), which are recognised in other comprehensive income and reported under equity. Fund structure Unrestricted income ndS are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity. Page 12
Kea Preschool Ltd Notes to the Financial Statements for the Year Ended 31 December 2021 Financial instruments Classificalion Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contrdctual artangernents entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Recognition and pneasurentenÉ All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets cla5sifLed as at fair value through profit or loss, which are initially measured at fair value (which is nomally the transaction price excluding transaction costs), unless the arrangetnent constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability IS measured at the present value of the future payrnents discounted at a market rate of interest for a similar debt instnllnent. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the Contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another paty substantially all of the risks and rewards of ownership of the financial asset, or c) the charity. despite having retained some, but not all, significant risks and rewards of ownership. has transfened control of the &sset to another paty. Financial liabilities are derecognised only when the obligation specified in the contract is discharged. cancelled or expires. Page 13
Kea Preschool Ltd Notes to the Financial Stat¢ments for the Year Ended 31 December 2021 Debt instruments Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method: (a) The contractual return to the holder is (i) a fixed amount- (li) a positive fixed rate or a positive variable rate,. or (iii) a combination of a positive or a negative fixed rate and a positive variable rate. (b) The contract May provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt inslrument is denominated, Provided such links are not leveraged. {c) The contract may provide for a detemiinable vaTiation of the retllln to the holder during the life of the instrument. provided that (i) the new late satisfies condition (a} and the variation is not contingent on future events other than {1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law. OT (li) the new rate is a market rate of interest and satisfies condition (a). (d) There is no contra¢tuaI provision that could, by its tern]s, result in the holder losing the principal amount or any interest attributable to the current period or prior periods. (e) Contractual provisions that pern]it the issuer to prepay a debt instrlunent or pennit the holder to put it back to the issuer befor¢ matUTity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law. (D Contractual provisions may pemiit the extension of the tern) of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended tenn satisfy the conditions of paragraphs (a) to {c). Debt instruments that are classified as payable or receivable within one year on initial reCOlitI0n and which mttt the aknve conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impainnent. With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss. Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairnient. Page 14
Ke2 Pr¢school Ltd Notes to the Financial Statements for the Year Ended 31 D¢cemb¢r 2021 Investments Investments in non4onvertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impaimient. Investments in subsidiaries and associales are measured at cost less impainnent. For investtnents in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the Shares issued plus fair value of other consideration. Any premium is ignored. DerivalivefanCIll instruments The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate rnovements. The charity does not hold or issue derivative financial instruments for speculative purposes. Derivatives are initially recognised at fair value at the date a derivative ¢ontract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the liming of the recognition in statement of financial activities depends on the nature of the hedge relationship. Fair value measurement The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique. 3 Income from donations and legacies UnrestrK¢t funds Total 2021 Total 2020 General Donated services and facilities 172 172 217 172 172 217 Page 15
Kca Preschool Ltd Notes to the Financial Statements for the Year Ended 31 December 2021 4 Incom¢ from charitable activities Unrestricted funds Total 2021 Total 2020 General 172,340 172,340 154,434 5 1n¢ome from other trading activitles Total 2021 Total 2020 Photo income 41 41 6 Investment income Total 2021 7 Expenditure on raising funds Total 2021 8 Expenditure on charitable aetivities Unrestrieted funds Total 2021 Total 2020 General Note Expenditure on Charitble activities 158,479 158,479 177.744 Page 16
Kea Preschool Ltd Notes to th¢ Financial Statements for the Year Ended 31 December 2021 9 N¢t incomin0Utg0lng resources Net incomingl(outgoing) resources for the year include.. 2021 10 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 11 Taxation The charity is a registered charity and is therefore exempt from taxation. 12 Tangibl¢ fixed a$s¢l$ Furniture and equipment Other tangible rixed asset Land and buildings Total Cost At l January 2021 At 31 December 2021 139,391 1,278 140,669 139,391 1,278 140,669 Depreciation At l January 2021 Charge for the year At 31 December 2021 85,582 13.940 739 135 86,456 13,940 99,522 739 135 100.396 Net book value At 31 December 2021 39,869 539 (135) 40,273 At 31 Decetnber 2020 53,809 539 {135) 54,213 13 Debtors Page 17
Kea Pr¢$ehool Ltd Notes to the Financial Statements for the Year Ended 31 Deeember 2021 2021 2020 Trade debtors Prepayments 1,982 301 768 385 2,283 1,153 14 Cash and cash equivalents 2021 2020 Cash on hand Cash at bank 99 72,118 72,217 133 63,398 63,531 15 Creditors: amouDt5 falling due within one year 2021 2020 Bank loans Trade creditors Other taxation and social security 20,000 456 4,585 1.368 255 1.623 25,041 16 Creditors: amounts falling due after one year 2021 Other creditors 4,067 17Funds Balance at 31 Deeember 2021 Balance at I January 2021 Incoming resourees Resources expended Unrestricted funds General 93.041 190,243 (175,151} 108,133 Page 18
Kea Preschool Ltd Notes to the Financial Statements for the Y¢ar Ended 31 December 2021 Balance at 31 December 2020 Balance at I January 2020 Ineoming resources R¢soure¢s expended Unrestricted funds General 104,926 185,891 (197,776 93,041 18 Analysis of net assets between funds Unrestrieted funds General Total funds Tangible fixed assets Current assets Current liabilities 40,408 74,199 (1,623) 112,984 40,408 74,199 (1.623) 112,984 Total net assets Unrestricted funds Gener21 Total funds Current assets Current liabilities 64,299 (25,041) 39,258 64.299 25,041 39,258 Total net assets 19 Analysis of net funds Atl January 2021 At31 December 2021 Financing cash flows Cash at bank and in hand 63,531 63,531 (63,531) 63.531) Net debt Page 19
Kea Pr¢s¢hool Ltd Notes to the Financial Statements for the Year Ended 31 December 2021 Atl January 2020 At31 Deeemb¢r 2020 Financing Cash flows Cash at bank and in hand Bank overdraft 53.547 (22.683) 30,864 30,864 (53,547) 22,683 (30,864 (30,864) Net debt Page 20
Kea Preschool Ltd Statement of Finaneial Activities by fund for the Year Ended 31 D¢eember 2021 Unrestricted funds General Funds A 2021 Income and Endowments from: Donations and legacies Charitable activities Investment income 172 190.025 46 Total income 190,243 ExpeDditure on: Charitable activities (175.151) {175.151) 15,092 Total expenditur¢ Net income Net movement in funds 15.092 Reeonciliation of funds Total fidS brought forward Total fijnds ¢aTried fonvard 93.041 108.133 Page 21
Kea Preschool Ltd Detailed Statement of Financial Activities for the Year Ended 31 December 2021 2021 Unrestricted funds 2021 Total 2020 General Total Income and Endowments from: Donations and legacies (analysed below) Charitable activities (analysed below) Other trading activities (analysed below) Investment income (analysed below) Total income 172 190,025 172 190,025 217 185,566 41 67 46 46 190,243 190,243 185,891 Expenditure on: Charitable activities (analysed below) Total expenditure Net incomel(expenditure) Net movement in funds 175,151 (175,151 197,776) (175,151) (175,151) (197,776) 15.092 15,092 (11.885) 15,092 15,092 (11,885) Reconciliation of fund$ Total funds brought forward Total funds caLTied forward 93.041 93.041 104,926 93,041 108.133 108,133 Page 22
Kea Preschool Ltd Detailed Statement of Finanei21 Activities for the Year Ended 31 December 2021 2021 Unrestriet¢d funds 2021 Total 2020 General Total Donations and legacies Donated services 172 172 217 172 172 217 2021 Unrestricted fund5 2021 Total 2020 General Total Charitable activities Fees and supplies Grants receivable CJRS Grant Other fundraising costs L72,340 2,900 14,785 172.340 2,900 14,785 154.536 10,000 21.132 (102) 185,566 190,025 190,025 2021 Total 2020 Total Other trading activilies Photo Income 41 41 Page 23
Kea Preschool Ltd Detydiled Statement of Financial Activities for the Year Ended 31 D¢eember 2021 2021 Unrestricted funds 2021 Total 2020 General Total Inveslmenl income Interest on cash deposits 46 46 67 46 46 67 2021 Unrestricted funds 2021 Tot21 2020 General Total Charitable aclivities Wages and salaries Staff NIC (Employers) Staff pensions (Other) - pension scheme I Subcontract cost Staff training Staff welfare Rates Light, heat and power Insurance Repairs and Maintenance Telephone and fax Office expenses Refreshments & Milk Childrens Equipment Storage CLeaning Travel and subsistence Staff entertaining {allowable for tax) (122,349) (2,427) (1,393) (159) (1,858) (999) (45) (3,483) (803) (2,832) (716) (3,930) {4,415) (3,082) {122,349) (2,427) (1,393) (159) (1,858) (999) (45) {3.483) (803) (2.832) (716) (3.930) (4.41 S) (3.082) (140,114) (5,792) (1,488) (40) (593) (966) (91) (4.215) {921) (6,644) (695) (4,542) {2,770) {2,502) (119) (7.173) (9) (10,657) (10,657) (398) (398) Page 24
Kea Preschool Ltd Detailed Statement of Financial Activities for the Year Ended 31 December 2021 2021 Unrestrieted funds 2021 Totsl 2020 General Total Accountancy fees LEgal and professional fees Depreciation of freehold property Depreciation of plant and machinery Depreciation of plant and machinery (1,490) (42) (13,939} (134) (1,490) (42) {13,939) {134) (1,815) (3,168) (13,939) (180) (197.776) (175.151) (175.151) Page 25
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examination of charity accounts checklist {CC32a) A recommended checklist for examiners This checklist is not suitable for the examination of voluntary group accounts. 1. Self-assessment checklist The questions in this checklist are designed to help the examiner to undertake their independent examination in accordan with the legal requirements and good practice recommendations set out in the Commission's guidance on Independent examination of charity accounts: Directions and guidance for examiners {CC32). The examiner is recommended to use the checklist alongside the Directions for independent examination. Not all the checks listed will apply in the case of every independent examination and so the checklist is not a substitute to the examiner using their own judgment as to what is necessary. The prompt 'step done, may prompt a 'yes' or'no,. A 'no' answer does not always indicate a problem because it may simply be that the step was either not applicable or found not to be necessary to the examination undertaken in which case the words 'not applicable, or 'not necessary, might be entered in pla of a working paper reference. Some answers may be 'no' because the evidence or infomiation that was needed could not be obtained and this will need to be considered when the examiner makes their report. It is recommended that all the steps for each Direction are completed with a working paper reference added. It may be that the examiner completes the checklist as they go through the examination or as a completeness check at the end as they bring their examination to a conclusion and prepare their report. There is no legal requirement to use this checklist and examiners may substitute their own checklist or take an alternative approach. If the checklist is completed it is recommended that this forms part of the formal record of their independent examination undertaken and is kept in the file of examiner's working papers.
- Checklist The Directions and documentation Step done? Worklng paper reference Direction 1: Check whether the charity is eligible to have an independent examination Checked the charity audit threshold applying to th8 accounts to be reviewed Checked an audit is not required for any other reason Confirmed the charity is eligible for independent examination Confirmed the amount of the charity's income to figure shown the accounls (including any branches) and confirmed that income and assets are below the audit threshold or, if applicable, obtained a copy of the letter from the Commission approvin an audit dis ensation If the charity has one or more subsidiaries confinned that group accounts are not required by law If a charitable company checked that the audit exemption statement has been made If applicable, rechecked the threshold calculation during the examination If the charity's income is more than £250,000 confimed that the examiner is a member of one of the listed bodies If applicable, informed the trustees that the charity is not eligible for an independent examination If receipts and payments accounts have been prepared, checked that the charity's gross income is less than £250,000 and that it is not a company If reiptS and payments accounts have been prepared, check that there is no requirement to prepare accruals accounts in the charity's overnin document or for an other reason If applicable, informed the trustees that the charity is not eligible to prepare reIPtS and payments accounts Direction 2: Check for any conflict of interest that prevents the examiner from carrying out their independent examination Confirmed that there are no close personal relationships with the trustees that compromise independence Confirmed as having no the day to day involvement in the administration of the charity If providing other services to the charity then confirmed that all the criteria in Direction 2 neSSary for independence are met Identified that there are no circumstances in the examiner's judgment that would reasonably lead to the perception that the examiner is not independent iA C) VJ4 VJO
The Directions and documentation Step done? Working paper reference Considered whether sufficiently skilled to carry out the examination and, where required, confirmed membership of a listed body If applicable, informed the trustees that you are not eligible to carry out the inde endent examination Direction 3: Record your independent examination File of working papers prepared to document the work undertaken (see the Direction for guidance on key working apers) Eviden of appointment on file If issued, letter of engagement si ned b the trustees on file Documentation of steps required by Direction 1 are all done Documentation that ste s required by Direction 2 are all done Analytical review documented Areas of concern identified and noted whether these were resolved or if unresolved and significant have included them in the examiner's report Verification and vouching procedures undertaken and any checks made are on file Cop of approved accounts on file Copy of trustees, annual re ort on file Copies of information relied upon as part of the examination are on file If applicable, copies of written assurances given Recorded the conclusions drawn as an outcome of the independent examination that support the examiner's report are on file Recorded any matters of material significance about which a report must be made direct to the Commission Recorded whether to exercise discretion and report on relevant matters direct to the Commission Direction 4: Plan your independent examination Obtained an understanding of the charity's constitution, objectives. organisational structure, the funds managed. its activities and accountin records and systems Planned specific examination prOdureS appropriate to the circumstances of the charity Reviewed whether any areas for improvement were advised to the trustees in the previous year's independent examiner's report (or audit report and management letter) and looked to see if an action taken Considered the financial risks identrfied and, where accruals accounts prepared, considered whether the trustees have evidence that shows that the charity is a going concern Noted any implications for the examiner's report and for separate reportin to the Commission i(+ JL
The Directions and documentation Step done? Working paper reference Direction 5: Check that accounting records are kept to the re uired standard Checked that accounting records have been kept are complete and considered rf the have been ke t to the required standard Asked the trustees about how they ensure the accounting records are complete If corrections made or records created during the examination, the trustee approval for these has been sou ht and obtained Asked the trustees if they carried out a review of the charity's internal financial controls in the year reported Noted any implications for the examiner's report and for separate reporting to the Commission Direction 6: Check that the accounts are consistent with the accounting records Compared the accounts with the underl accounting records Checked some entries from the listing of transactions of income and expenditure to vouchers such as invoices, bank statements. and receipts. If applicable, confimied that the trustees have taken the necessary steps to ensure that restricted or endowed funds are correctly reported in the accounts If additional checks were neSsary. the evidence was found that showed the accounting record was complete, voucher present, and both supported the entry in the accounts Direction 7: If the accounts are prepared on an accruals basis and one or more related party transactions took place the axaminer must check if these were properly disclosed in the notes to the accounts Checked that the disclosures required by the SORP have been made and are complete Considered whether there are any implications for the examiner's report and reporting to the Commission If receipts and payments accounts prepared and a related party transaction note was provided, then checked the note for an lications for the examiner's report Direction 8: Check the reasonableness of the significant estimates and judgments and accounting polFcies used in accounting for the types of fund held and in the preparation of the accounts Checked with the trustees that the separate funds of the charity have been correctly accounted for and reported correctly in the accounts Checked the reasonableness of any significant estimates or ments that have been made in preparin the accounts Y& kJ3EJts kLY
The Directions and documentation Step done? Working paper reference Where accruals accounts are prepared, checked that the accounting policies adopted are consistent with the SORP and are appropriate to the activities of the charit Where accruals accounts are prepared, checked that the accounts were re ared on a oin conrn basis Noted any implications for the examiner's report and for separate reporting to the Commission Direction 9: The examiner must check whether the trustees have considered the financial circumstances of the charity at the end of the reporting period and, if the accounts are prepared on an accruals basis, check whether the trustees have made an assessment of the harity's position as a going concern when approving the accounts Asked the trustees whether they expect the charity to be able to settle outstanding invoices, bills and commitments as and when they fall due Asked the trustees about the reserves policy and the adequacy of the level of reserves held Where accruals accounts are prepared, checked that the trustees, have made an assessment of going concern and that their assessment is reasonable given the information available Where accruals accounts are prepared, checked that the SORP'S disclosures about going concern have been made Noted any implications for the examiner's report and for separate reporting to the Commission Direction 10: Check the form and content of the accounts Where receipts and payments accounts have been prepared, checked that the charity can lawfully prepare such accounts, that all the accounting statements are present and that the funds of the charity are correctly identified Where accruals accounts are prepared, checked that they compl with the SORP and applicable accountin standard If the charity is a Company, checked that the accounts also comply with the a plicable company law requirements Noted any implications for the examiner's report and for se arate reportin to the Commission Direction 11: Identify items from the analytical review of the accounts that need to be followed up for further explanation or evidence Carried out an analytical review
The Directions and documentation Step done? Working paper reference Following the analytical review, selected material items in the accounts for further ex lanation or su orting evidence If the accounts could be materially misstated, additional checks were undertaken and the examiner is satisfied that the item(s) identified were satisfactorily explained and correctly included in the accounts Noted any implications for the examiner's report and for separate reportin to the Commission Direction 12: Compare the trustees. annual report with the accounts Checked that any figure for reserves quoted in the trustees, annual report is not materially inconsistent with the accounts Compared the trustees, annual report with the accounts for any material inconsistency Noted any implications for the examiner's report and for separate reportin to the Commission Direction 13: Write and sign the independent examination report Reviewed the conclusions from the independent examination Considered whether the examination has identified a matter of concern that should be reported in the examiner's report Checked that the examiner's report covers all of the matters required If relying on the work of others in undertaking the independent examination, the examiner is fully satisfied with their work and that work has been fully documented Signed and dated the examiner's report Reported matters of material significance direct to the Commission Exercised discretion and reported relevant matters direct to the Commission 14-