Company registration number.. 06701980
Charity registration number.. 1127048
Kea Pre School Limited
IA company limited by guarantee}
Annual Report and Financial Statements
for the Year Ended 31 December 2024

Kea Pre School Limited
Contents
Trustees Report
1 to5
Reference and Administrative Details
Independent Examiner's Report
6t07
Statement of Financial Acts'vities
Balance Sheet
Notes to the Financial Stslements
lOto18

Kea Pre School Limited
Trustees Report
The trustees, who are directors for the purposes of company law, present the annual report together
with the financial statements of the charitable company for the year ended 31 December 2024.
Oblectlves and activltles
Objects and aims
The objects of the charity are lo enhance the development and education of children under the
statutory schoo1 age by encouraging parents to understand and provide for the needs of their children
through community groups, and to provide the necessary facilities for quality day care, recreation and
education of children during the school day, out of school hours and during the holidays.
The aims of the Charity are lo provide childcare al a modest price to allow parents lo continue in their
work. Childcare should be of the utmost importanee and we aim lo deliver this.
Public bgngfit
Kea Pre School Ltd provides nursery acb'vilies for young children.
The Iruslees confirm that they have complied with the requirements of section 17 of the Charities Act
2011 to have due regard to the public benefit guidance published by the Charity Commission for
England and Wales.
Page 1

Kea Pre School Limited
Trustees Report
Achievements and perfomance
Kea Preschool is situated in the curtilage of Kea CP School in the Parish of Kea in Cornwall. The
Charity manages the preschool for children aged two to five years and also provides breakf8sI
facilities and after school facilitses for the preschool children and for the primary children from the
adjoining primary school.
The aim is lo provide high quality care and education ft)r our children al the most economic and
affordable price. The area is not recognised as being economically deprived, bul there are many
parents in the locality whose circumstances are difficult al this time, and we strive lo provide our
service at the lowest possible price commensurate with excellent quality and imaginative objectives.
Our aim is to serve the children, their families and the wider community by providing the best seNice
that we can for the benefit of all concemed.
The day-lo-day management of the preschool 15 in the hands of the presehool Manager, Tracey
Verran, the Office Manager, Jo Polkinghorne. and three senior nominated staff.
The preschool is currently rated overall "Good. by Ofsled, with a number of "Outstanding. markings.
Staff members are all well qualified and training is continually kept up lo dale wth regular training
events and courses. The staff alway5 strive lo ensure that all children are dealt with individually and
their personal development is stressed al all times. Contact and Interaction with parents is extremely
important for all concerned.
Safeguarding of children, information and personal cir¢umstan¢e$ is a high priority.
The preschool has a building for the main activities, and there is separate annex for use by our fv
year old children. There is a spacious outside area with a good selection of stimulating play
equipment. Outdoor learning is an integral part of our preschool day with regular outdoor learning
sessions that lake place in oui outdoor classroom and on the grounds of Kea CP School. We have
now provided a separate office and staff welfare space. This allows for better record keeping and
business management arrangements. The space also provides a separate space for confidential
conversations with staff, parents and other visitors. The vacated Spa￿ in the main building is now
re-allocated as a cloakroom and storage area, which has improved the space within main preschool
room.
There are currently 46 preschool children enrolled, with space for 30 on sile each day. We also have
83 chIld￿n on roll for breakfast club and afterschool club wraparound care.
We provide the only preschool facilities on the parish of Kea and are appreciated by the local
mrnunity and Parish Council, wlh whom we enjoy excellent relationships.
Financial review
The attached fi'nancial statements show the finances for the preschool for the year ended 31
December 2024. The accounts show a surplus for the year of £7,751 12023.. £13,801). Vve have
endeavoured lo keep control of our running costs and maintain affordable fees in order to maintain
reserves for the purchase of potential equipment in the future,
Page 2

Kea Pre School Limited
Trustees Report
Policy on rgsgrvès
The charity's reserves policy is to build up sufficient reserves lo cover 811 liabilities as and when they
fall due. The minimum level of reserves required for this will be continually reviewed by the board of
Trustees. We have maintained a reserve of finan￿ lo ensure we comply with Charity Commission
recommendati'ons, and currently hold unrestricted, free reserves of £75,142 which are considered
adequate.
Structure, governance and management
Nature of governlng document
The charity is limited by guarantee and governed by the Memorandum and Articles of Assocation. The
company was incorporated on 18 September 2008 and commenced trade on 1 January 2009 upon
the transfer of activities and funds from Kea Pre School (charity registration number 10292161. The
company was registered as a charity on 4 December 2008.
Organlsational structure
The running of the pre school is overseen by the board of Iruslees There a￿ three trLJStees. We have
endeavoured lo apply sUc￿Ssion management unsuccessfully. it is an ongoing situation.
Subject to meetsng the requiremenls in the Articles, the charity may appoint new trustees by ordinary
resolution.
The day lo day running of the pre school is the responsibility of the manager, but strategic decisions
are dealt with by the board of trustees.
Arrangements for setting key managèmgnt Porsonnol romuneratlon
Pre school manager remuneration is set al the current average for a Similar position. Adminislralor
muneralion is sel al current average for similar position.
Statement of trustees. responslbilities
The trustees Iwho are also the directors of Kea Pre School Limited for the purposes of company lawl
are responsible for prepanng the trustee5' report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practicel. including FRS 102 "The Financial Reporting Standard applicable in the UK and
Republic of Ireland The report and accounts have been prepared in accordance with the provisions
in the Companies Act 2006 relating lo small companies.
Company law requires the trustees to prepare financial slalements for each financial year. Under
company law the trustees must not approve the financial statements unless they are satisfied that
they give a true and fair view of the stale of affairs of the ch8rilable company and of the incoming
resources and application of resources, including its income and expenditure, of the charitable
company for that period. In preparing these financial slalemenls, the trustees are required to..
select suitable accounting policies and apply them consi5tently',
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent.,
state whether applicable accounting standards, ¢omprising FRS 102 have been followed, subject
to any material departures disclosed and explained in the financial stslements.. and
prepare the financial statements on the going concern basis unless rt is inappropriate to presume
that the charitabSe company will continue in business.
Page 3

Kea Pre School Limited
Trustees Report
The Iruslees are responsible for keeping proper accounting records that can disclose with reasonable
accuracy at any lime the financial position of the charitable company and enable them lo ensure that
the financial slalemenls comply with the Companies Act 2006. They are also responsible for
safeguarding the assets of the charitable company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and fi'nancial
information included on the eharilable company's website. Legislation governing the prepamtion and
dissemination of financial ststements may differ from legislation in olherjurisdiclions.
Small companles provlsion statement
This report has been prepared in accordance with the small Companies regime under the Companies
Act 2006.
The annual report was
behalf by..
pproved by the trustees of the charity on io./.a/.25... and signed on its
Stuart Anthony Pearson
Trustee
Page 4

Kea Pre School Limited
Trustees Report
Reference and Administrative Details
Charity Registration Number
1127048
Company Registration Number 06701980
The charity is incorporated in England
Kea
Truro
Cornwall
TR3 6AY
Registered Office
Accountants
Francis Clark LLP
Lowin House
Tregolls Road
Truro
TR12NA
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows..
Trustees..
Janine Vicky Allen
David Charles Gibson Clewlow
Stuart Anthony Pearson
Page 5

Kea Pre School Limited
Independent Examiner's Report to the trustees of Kea Pre School
Limited {'the Company,)
I report lo the charity Iruslees on my examination of the accounts of the Company for the year ended
31 December 2024.
Responslblltties and basls of report
As the charity's trustees of the Company land also ils directors for the purposes of company lawl you
are responsible for the preparation of the accounts in accordance with the requirements of the
Companies Act 20061'lhe 2006 Ael'l.
Having satisfied myself that the accounts of the Company a￿ 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 2011 I'the 2011 Acl'l.
In carrying out my examination I have followed the Directi'ons given by the Charity Commission under
section 14515llbl of the 2011 Act.
Independent examinef s statement
Since the Company's gross income exceeded £250.000 your examiner must be a member of a body
listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination
because l am a member of Inslilule of Chartered Accountants in England and Wales IICAEWI, which
is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connectson
with the examination giving me cause lo believe..
1. accounting records were not kept in respect of Kea Pre School Limited 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 accounting requirements of section 396 of the 2006 Act
other than any requirement that the accoun15 give a 'lrue and fair view, which is not a matter
considered as part of an independent examination,. or
4. the a¢counts have not been prepa￿d in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities lapplicable lo
eharities preparing their accounts in accordance with the Financial Reporting Stsndard
applicable in the UK and Republic of Ireland IFRS 102>1.
I have no COn￿rnS 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
ac¢oL¢nts lo be reached.
Page 6

Kea Pre School Limited
Independent Examinerfs Report to the trustees of Kea Pre School
Limited ('the Company,)
Darren Perry BA IHon$l ACA DChA
Institute of Chartered Accountants in England and Wales IICAEW}
Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall
TR12NA
Date..6./u.l. 25.
Page 7

Kea Pre School Limited
Statement of Financial Activities for the Year Ended 31 December 2024
(Including Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Unrestricted
funds
Restrictgd
funds
Total
2024
Total
2023
Note
Income and Endowments from:
Donations and legacies
Investment income
Charitable activities
654
1.315
282.810
654
1,315
282.810
1,813
131
254,559
Total income
284,779
284.779
256,503
Expendlture on:
Charitable activities
1276,348
680
277,028
242,702
Total expenditure
276,348
680
277,028
242,702
Nel incomel{expendilurel
8,431
680
7,751
13,801
Net movement in funds
8,431
16801
7,751
13,801
Reconclllation of funds
Total funds brought forward
Total funds carried forward
113,911
680
114,591
100,790
14
122,342
122,342
114.591
All of the charity's activities derive from continuing operations during the above tsvo periods. All
transactions in the comparative period related lo unreslricled fund5.
The funds breakdown for 2023 is shown in note 14.
The note5 on pages 10 10 18 fonm an integral part of these finanaal statements.
Page 8

Kea Pre School Limited
(Registration number.. 06701980)
Balance Sheet as at 31 December 2024
2024
2023
Note
Fixed assets
Tangible assets
Current assots
Debtors
Cash at bank and in hand
10
47.200
25,906
16,085
71.121
12,181
87,358
12
87,206
99,539
Credltors: Amounts falllng due within one year
13
12,064
10,854
Net current assets
75,142
88,685
Net assets
122,342
114,591
Funds of tho charity:
Restricted income funds
Restricted funds
680
Unrestricted Incorne fund$
Unreslricled funds
122,342
113,911
Total funds
14
122,342
114,591
For the financial year ending 31 December 2024 the charity was entitled to exemption from audit
under section 477 of the Companies Act 2006 relating lo small companies.
Directors, responsibilities..
The members have not required the charity to obtsin an audit of its accounts for the year in
question in accordance with section 476., and
The directors acknowledge their responsibilities for complying with the requirements of the Act with
respect to accounb'ng records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating lo
companies subject to the small companies ￿girne within Part 15 of the Companies Act 2006.
The financial statements on pages 8 10 18 were approved by the trustees, and aulhorised for issue on
CJl-.Ql.'LS... and signed on their behalf by..
Stuart Anthony Pearson
Trustee
The notes on pages 10 to 18 forni an integral part of these financial statements.
Page 9

Kea Pre School Limited
Notes to the Financial Statements for the Year Ended 31 December
2024
1 Charity status
The charity is limited by guarantee. incorporated in England, and consequently does not have share
capital. Each of the members is liable lo contribute an amount not exceeding £10 towards the assets
of the charity in the event of liquidation.
The address of its registered offi￿ is..
Kea
Truro
Cornwall
TR3 6AY
2 Accounting poli¢ie$
Summary of significant accounting policies and key accounting estimates
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 otherwise
stated.
Statement of compllance
The financial statements have been prepared in accordance with Accounting and Reporting by
Ch3rities' Statement of Recommended Practice lapplicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS
10211 lissued in October 20191- (Charities SORP IFRS 10211, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Basis of preparation
Kea Pre School Limited meets the definition of a public beneftl entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless othe￿iSe ststed in the
relevant accounting policy notes.
Golng concem
The trtJslee5 consider that there are no material uncertainties about the charity's ability to continue as
a going concem nor any significant areas of uncertainty that affect the carrying value of assets held by
the charity.
Income and endowments
All income is rec(￿nISed once the charity has enlillemenl to the in¢ome. it is probable that the income
will be received and the amount of the income receivable can be measured reliably.
Page 10

Kea Pre School Limited
Notes to the Financial Statements for the Year Ended 31 December
2024
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and
settlement dale. In the event that a donation 15 subject lo conditions that require a level of
performance by the charity before the charity is entitled lo the funds, the income is deferred and not
recognised until either those conditions are fully mel, or the fulfilmenl of those conditions is wholly
within the control of the charity and il is probable that these conditions will be fulfilled in the reporting
period.
Investment income
Income from investments is included in the year in which il 15 receivable.
Expendlture
All expenditure is recognised once there is a legal or constructive obligation lo that expenditure. it is
probable settlement is required and the amount can be measured reliably. All costs are allocated lo
the applicable expenditure heading that aggregate similar costs to that category.
Charltable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of ils activities
and services for ils beneficiaries. 11 includes both costs that can be allocated directly lo such activities
and those costs of an indirect nature necessary lo support them.
Taxation
The charity is considered to pass the lesls set out in Paragraph 1 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 exempl from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gain5 Act 1992, to the extent that such income or gains are
applied exclusively lo charitable purposes.
Tangible fixed assets
Individual fixed assets costing £250 or more are initially recorded al cost. less any subsequent
awumulaled depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets $0 as to write off the c051 or valuation, less any
estimated residual value, over their expected useful economic life as follows..
Asset class
Land & Buildings
Furniture & Equipment
Depreclatlon method and rate
10'/o Slraighl line
250A Reducing balance
Page11

Kea Pre School Limited
Notes to the Financial Statements for the Year Ended 31 December
2024
Trade debtors
Trade debtors are amounts due from customers for seNices performed in the ordinary course of
business.
Trade debtors are recognised initially al the transaction price. They are subsequently measured at
amortised cost using the effective interest method, less provision for impairment. A provision for the
impairment of trade debtors is estsblished when there is objective evidence that the charity will not be
able lo collect all amounts due according lo the original terms of the receivables.
Cash and cash equlvalents
Cash and cash equivalents comprise cash on hand and call deF)osils, and other short-temi highly
liquid investments that are readily convertible to a known amount of cash and are subject lo an
insignificant risk of change In value.
Trade creditors
Trade creditors are obligations to pay for goods or 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, lo defer settlement of the
creditor for al least ￿e1ve months after the reporting date. If there is an unconditional right lo defer
settlement lor al least fv￿1ve months after the reporting date, they are presented as non-current
Trade creditors are recognised initially at the transaction pnce and subsequently measured at
amortised cost using the effective interest method.
Fund structure
General funds are unrestrieled funds that are available for use at the trustees discretion in furtherance
of the objectives of the ¢harity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the
use of which is restricted to that area or purpose.
Flnancial Instruments
Classificatlon
Financial assets and financial liabilities are recognised when the charity becomes a paty to the
conlraclual provisions of the instrument.
Financial liabilities are ¢lassified according to the substsn¢e of the contractual arrangements entered
into.
Page 12

Kea Pre School Limited
Notes to the Financial Statements for the Year Ended 31 December
2024
Recognltlon and measurement
All financial assets and liabilities are initially measured at transaction pri￿ {irscluding transaction
coslsl, except for those financial assets classified as al fair value through profil or loss, which are
initially measured al lair value (which is normally the transaction price excluding transaction costs).
unless the arrangement 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
payments discounted al a market rate of interest for a Similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when. and only
when there exists a legally enforceable right lo sel off the recognised amounts and the charity intend$
either to settle on a nel basis, or to realise the asset and settle the liability simultaneously.
Financial assets are dere¢[￿niSed when and only when al the contractual rights lo the cash flows
from the financial asset expire or are settled, bl the charity transfers to another paty substantially all
of the risks and rewards of ownership of the financial asset, or cl the charity, despite having retained
some, but not all, significant risks and rewards of ownership, ha5 transferred Control of the asset lo
another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged,
cancelled or expires.
3 Incorno from donatlons and legacles
Unrestricted
Funds
Total
2024
Total
2023
Donations
654
654
1,813
1,813
654
654
Page13

Kea Pre School Limited
Notes to the Financial Statements for the Year Ended 31 December
2024
4 Income from charitable activitigs
Unrestrieted
Funds
Total
2024
Total
2023
School fees
NEGIEYP funding
Misc income
127,798
154,213
799
127,798
154,213
799
137.343
114,289
2,927
282,810
282,810
254,559
5 Investment income
Unrestricted
Funds
Total
2024
Total
2023
Interest receivable
1,315
1,315
131
6 Expenditure on charltable activities
Unrg$trict9d
Funds
Total
2024
Total
2023
Depreciation. amortisation and other similar cos15
Staff costs
Nursery activities
Support costs
16,138
197,735
30,469
32,686
16.138
197,735
30,469
32.686
18,579
177,156
29,378
17,589
277,028
277,028
242,702
7 Trustees remuneration and expenses
No Iruslees, 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.
Page 14

Kea Pre School Limited
Notes to the Financial Statements for the Year Ended 31 December
2024
8 Staff cost5
The aggregate payroll costs were as follows..
2024
2023
Staff costs during the year were:
Wages & Salaries
Staff NIC (Employers)
Stsff pensions
181,836
7,450
8,449
164,348
5.775
7.033
197,735
177,156
The monthly average number of persons (including senior management I leadership leaml employed
by the charity during the year expressed as full time equivalents was as follows..
2024
No
12
2023
No
12
Average number of employees
No employee received emoluments of more than £60,000 during the year.
The lolal employee benefits of the key management personnel of the charity, comprising the trustees,
pre school manager and offiTr managerwere £50,99612023". £45,327).
9 Taxatlon
The charity is a registered charity and is therefore exempl from tsx8tion.
Page 15

Kea Pre School Limited
Notes to the Financial Statements for the Year Ended 31 December
2024
10 Tanglble flxed assets
Land and Furniture and
buildings
equipment
Total
Cost
Al 1 January 2024
Additions
139,391
37,432
20,251
159,642
37,432
Al 31 December 2024
176,823
20,251
197,074
Depreciation
Al 1 January 2024
Charge for the year
127,400
12,659
6,336
3.479
133.736
16,138
At 31 De￿mber 2024
140.059
9,815
149,874
Ngt book value
At 31 December 2024
36,764
10,436
47,200
At 31 December 2023
11,991
13,915
25,906
11 Debtors
2024
2023
Trade debtors
Prepayments
Other debtors
11,958
379
3,748
16,085
9,032
973
2,176
12,181
12 Cash and cash equlvalents
2024
2023
Cash on hand
Cash at bank
123
70,998
80
87,278
71,121
87.358
P89è 16

Kea Pre School Limited
Notes to the Financial Statements for the Year Ended 31 December
2024
13 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Other laxalion and social security
Other creditors
Accruals
4.245
3,005
1.914
2,900
12,064
4,405
2.168
1,581
2,700
10,854
14 Funds
Balance at 31
December
2024
Balance at 1
January 2024
Incomlng
resources
Resources
expended
Unrestrlcted funds
Gengral
General
113,911
284,779
1276,3481
122,342
Restricted funds
Tesco Community Grant
680
680
Total funds
114,591
284,779
277,028
122,342
Balance at 31
December
2023
Balance at 1
January 2023
Incoming
resources
Resources
expended
Unrestrlcted funds
Ggnoral
General
99.938
256.503
1242,5301
113,911
Restricted
Tesco Community Grant
852
172
680
Total funds
100.790
256,503
242,702
114.591
The specific purposes for which the fvnds are to be applied are a$ follows..
The Tesco Community Grant was for outdoor equipment.
Page 17

Kea Pre School Limited
Notes to the Financial Statements for the Year Ended 31 December
2024
15 Analysis of not assets between funds
Total funds
at31
Decembor
2024
Unrestricted
funds
Gengral
Tangible fixed assets
Current assets
Current liabilitie5
47,200
87,206
12,064
47,200
87,206
12.064
Totsl net assets
122,342
122.342
Total funds
at31
December
2023
Unrestrieted
lunds
General
Restrlcted
funds
Tangible fixed asse15
Current assets
Current liabilities
25,906
98,859
10,854
25,906
99,539
10.854
680
Total net assets
113,911
680
114.591
16 Related party transactions
There were no related paty transactions in the year.
Page 18