PLAY PLANET FAMILY PROJECT UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
Nelmo & Co Chartered Certified Accountants
Unit 1 Amber Business Park, King’s Road Charfleets Industrial Estate Canvey Island Essex SS8 0DD
Play Planet Family Project Unaudited Financial Statements For The Year Ended 31 May 2023
| Contents | |
|---|---|
| Page | |
| Company Information | 1 |
| Chairman’s Report | 2 |
| Trustee’s Report | 3-5 |
| Accountants' Report | 6 |
| Income Statement | 7 |
| Statement of Financial Position | 8 |
| Notes to the Financial Statements | 9-11 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Income Statement | 12 |
Play Planet Family Project Company Information For The Year Ended 31 May 2023
| Business | Canvey Resource Centre |
|---|---|
| Little Gypps Road | |
| Canvey Island | |
| Essex | |
| SS8 9HG | |
| Accountants | Nelmo & Co |
| Chartered Certified Accountants | |
| Unit 1 Amber Business Park | |
| King’s Road | |
| Charfleets Industrial Estate | |
| Canvey Island | |
| Essex | |
| SS8 0DD |
Play Planet Family Project Company No. Chairman’s Statement For The Year Ended 31 May 2023
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As we move into the next academic year, we have seen an unprecedented amount of interest in preschool places. With the roll out of the government childcare expansion funding, we have been inundated with parents wishing to enrol their children and take advantage of the funding entitlements.
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Staff have been reflecting upon the preschool environment and have invested much time in revamping areas and rooms ensuring curriculum coverage whilst maintaining a “home from home” approach. We have had some excellent feedback from parents stating, “it feels just like being at home”.
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The management team have delivered Safeguarding Level 2 awareness training this year and all staff will be renewing their Paediatric First Aid training. We are delighted to have welcomed our new Apprentice who enrolled to undertake the Level 3 Early Years Educator programme. Play Planet Family Project highly regard continuing professional development and workbased learning and we wish our apprentice all the best as she embarks on her training.
Play Planet Family Project TRUSTEES' ANNUAL REPORT For The Year Ended 31 May 2023
The trustees present their report and the accounts of the charity for the year ended 31 May 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name
Charity registration number
Principal office
Play Planet Family Project 1127231 Canvey Resource Centre Little Gypps Road Canvey Island Essex SS8 9HG
The trustees
The trustees who served the charity during the period were as follows:
Mrs Matthews Mrs Harris Miss Harris
Accountant
Nelmo & Co Unit 1 Amber Business Park, King’s Road Charfleets Industrial Estate Canvey Island Essex SS8 0DD
STRUCTURE, GOVERNANCE AND MANAGEMENT
Grant Making Policy
The charity receives grants from various sources, and these have been acknowledged in the Treasurers report.
Appointment of Trustees
As set out in the Articles of Association the chair of the trustees is nominated by their fellow Trustees.
The Trustees in office in the year are set out on the information page. The Trustees have no beneficial interest in the company other than as members. The Board has the power to appoint additional Trustees.
Trustee induction and training
The Trustees maintain a good working knowledge of charity and best practice by attendance at charity courses run by outside providers. New Trustees are supplied with an induction folder containing copies of the current Annual Report, Business Plan and leaflets from the Charities Commission. The Trustees Induction Tool Kit is also available for consultation and is kept in the Management Office.
Related parties
The charity has relationships with related parties and other charities and organisations with which it co-operates in pursuit of its charitable objectives.
Play Planet Family Project TRUSTEES' ANNUAL REPORT For The Year Ended 31 May 2023
Risk Management
The trustees have a risk management strategy which comprises:
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An annual review of the risks the charity may face.
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The establishment of systems and procedures to mitigate those risks identified in the plan.
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Implementation of procedures designed to minimise any potential impact on the charity should those risks materialise
OBJECTIVES AND ACTIVITIES
The objects of the charity are:
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The promotion and protection of good health.
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The relief of financial hardship.
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The advancement of education.
To maintain the current services provided and increase our availability to meet the current demand for our services.
To continue to apply for further grants and funding to enable us to continue to provide the best possible service.
ACHIEVEMENTS AND PERFORMANCE
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We reflect upon another busy and exciting year. We continue to see our good reputation increase our admissions this past academic year with the majority of parents being referred by recommendation.
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This year we have seen a member of staff successfully complete SENCO training to support our increasing ratio of children with special educational needs and disability. Through earlier interventions and successful multi-agency partnerships with health, we have been able to provide a high level of care and support to children. This includes children with autistic spectrum disorder, speech and language delays, global learning delay and complex health conditions. The preschool has worked hard to ensure children leaving to attend school have a smooth and thorough transition to prepare them for primary school.
Play Planet Family Project TRUSTEES' ANNUAL REPORT For The Year Ended 31 May 2023
FINANCIAL REVIEW
Another successful year with all fees paid on time and no debts outstanding. Good accounting and careful budgeting resulted in staff being retained on a healthy living wage and a significant amount of equipment being replaced, loans from trustees have started to be repaid and extra training for all staff.
The committee have been working with the treasurer to ensure we have a viable pre-school to return to.
The Statement of Financial Activities showed net profit/ (loss) of (£3,000) (2022 – (47,973)) for the year and reserves stand at (£30,415) (2022 – (£27,415))
Investment powers and policy
The Trust Deed authorises the Trustees to make and hold investments using the general funds of the charity.
The trustees have the power to invest in any way that they see fit.
Reserves policy
Any money received by the charity from whatever source shall be applied only in furtherance of the Aims of the charity and shall not be applied in any way whatsoever for the personal benefit, use or advantage of any officer or member of the charity, or for any other person or purpose or person whatsoever, except maybe as specified in the objects of the charity above. The funds shall be vested in not less than three custodian trustees, who shall apply the funds (subject to the general law except as the Constitution provides to the contrary) to achieve the aims as set out above, at the direction of the executive.
It is the policy of the charity to maintain an unrestricted fund, known as the General Fund, which is the free reserve of the charity. This provides sufficient funds to cover management and administration and supports costs of the charity.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Trustees' Annual Report and the accounts in accordance with applicable law and regulations and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these accounts, the trustees are required to:
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Select suitable accounting policies and then apply them consistently.
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Observe the methods and principles in the Charities SORP.
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Make judgements and accounting estimates that are reasonable and prudent.
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Prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Accountant
Nelmo & Co have been re-appointed as accountant for the ensuing year.
Signed by order of the trustees
Mrs P Matthews
........................ 31/03/2024
Play Planet Family Project Accountants' Report For The Year Ended 31 May 2023
We have reviewed the accounts of Play Planet Family Project for the year ended 31 May 2023 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
This report is made solely to the charity's trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND ACCOUNTANT
As explained more fully in the Trustees' Annual Report, the trustees are responsible for the preparation of accounts which give a true and fair view.
We have been appointed as accountant under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. Our responsibility is to review and express an opinion on the accounts in accordance with applicable law.
SCOPE OF THE REVIEW OF THE ACCOUNTS
A Review involves obtaining evidence about the amounts and disclosures in the accounts sufficient to give reasonable assurance that the accounts are free from material misstatement, whether caused by fraud or error. This includes an assessment of whether the accounting policies are appropriate to the charity's circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the trustees; and the overall presentation of the accounts. In addition, we read all the financial and non-financial information in the Trustees' Annual Report to identify material inconsistencies with the audited accounts. If we become aware of any apparent material misstatements or inconsistencies, we consider the implications for our report.
OPINION ON ACCOUNTS
In our opinion the accounts:
O Give a true and fair view of the state of the charity's affairs as of 31 May 2023 and of its incoming resources and application of resources, for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Act 2011.
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:
the information given in the Trustees' Annual Report is inconsistent in any material respect with the accounts; or
sufficient accounting records have not been kept; or
- the accounts are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.
Nelmo & Co is eligible to act as an accountant in terms of section 1212 of the Companies Act 2006
Date: 31/03/2024
Nelmo & Co Chartered Certified Accountants Unit 1 Amber Business Park, King’s Road Charfleets Industrial Estate Canvey Island Essex SS8 0DD
Play Planet Family Project Income Statement For The Year Ended 31 May 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Notes | £ | £ | |
| TURNOVER | 103,321 | 93,821 | |
| Cost of sales | (5,875) | (39,848) | |
| GROSS SURPLUS | 97,446 | 53,973 | |
| Administrative expenses | (100,486) | (102,031) | |
| OPERATING DEFICIT | (3,040) | (48,058) | |
| Other interest receivable and similar income | 40 | 85 | |
| DEFICIT FOR THE FINANCIAL YEAR | (3,000) | (47,973) |
The notes on pages 9 to 11 form part of these financial statements.
Play Planet Family Project Statement of Financial Position As at 31 May 2023
| Notes FIXED ASSETS Tangible Assets 3 CURRENT ASSETS Debtors 4 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 5 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET LIABILITIES Income Statement MEMBERS' FUNDS |
2023 £ £ - - 2,647 1,599 4,246 (34,661) (30,415) (30,415) (30,415) (30,415) (30,415) |
2023 £ £ - - 2,647 1,599 4,246 (34,661) (30,415) (30,415) (30,415) (30,415) (30,415) |
2022 £ £ 1,000 1,000 10,036 4,250 14,286 (42,701) (28,415) (27,415) (27,415) (27,415) (27,415) |
2022 £ £ 1,000 1,000 10,036 4,250 14,286 (42,701) (28,415) (27,415) (27,415) (27,415) (27,415) |
|---|---|---|---|---|
| - (30,415) |
1,000 (28,415) |
|||
| 14,286 (42,701) |
||||
| 4,246 (34,661) |
||||
| (30,415) | (27,415) | |||
| (30,415) | (27,415) | |||
| (30,415) | (27,415) | |||
| (30,415) | (27,415) |
These accounts were approved by the members of the committee and authorised for issue on the 31 March 2024 and are signed on their behalf by:
Signed by order of the trustees
Mrs P Matthews
Date 31/03/2024
The notes on pages 9 to 11 form part of these financial statements.
Play Planet Family Project Notes to the Financial Statements For The Year Ended 31 May 2023
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The accounts have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards and the requirements of the Statement of Recommended Practice 'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005).
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Equipment – 25% Reducing Balance
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Fixtures & Fittings – 25% Reducing Balance
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 11 (2022: 10)
3. Tangible Assets
| Cost As at 1 June 2022 As at 31 May 2023 Depreciation As at 1 June 2022 Provided during the period As at 31 May 2023 Net Book Value As at 31 May 2023 As at 1 June 2022 |
Plant & Machinery £ 11,048 |
Fixtures & Fittings £ 28,978 |
Total £ 40,026 |
|---|---|---|---|
| 11,048 | 28,978 |
40,026 |
|
| 10,824 224 |
28,202 776 |
39,026 1,000 |
|
| 11,048 | 28,978 |
40,026 |
|
| - | - | - | |
| 224 | 776 |
1,000 |
Play Planet Family Project Notes to the Financial Statements (continued) For The Year Ended 31 May 2023
4. Debtors
| Other Taxes and social security | 2023 £ 2,647 2,647 |
2022 £ 10,036 |
|---|---|---|
| 10,036 |
5. Creditors: Amounts Falling Due Within One Year
| Trade creditors R Harris Loan P Matthews Loan Accruals and deferred Income |
2023 £ - 22,854 11,107 700 34,661 |
2022 £ 1 30,000 12,000 700 42,701 |
|---|---|---|
6. INCOMING RESOURCES FROM ACTIVITIES FOR GENERATING FUNDS
| Other activities for generating funds | Unrestricted Funds Total Funds 2023 Total Funds 2022 £ £ £ |
|---|---|
| 103,321 103,321 93,821 |
7. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE
| Unrestricted | Total Funds | Total Funds | ||
|---|---|---|---|---|
| Funds | 2023 | 2022 | ||
| £ | £ | £ | ||
| Costs of charitable activity - Unrestricted | 105,611 | 105,611 | 141,129 | |
| 8. | COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE | |||
| Activities | ||||
| undertaken | Total Funds | Total Funds | ||
| directly | 2023 | 2022 | ||
| £ | £ | £ | ||
| Costs of charitable activity – Pre school | 105,611 | 105,611 | 141,129 | |
| 9. | GOVERNANCE COSTS | |||
| Unrestricted | Total Funds | Total Funds | ||
| Funds | 2023 | 2022 | ||
| £ | £ | £ | ||
| Accountancy fees | 750 | 750 | 750 |
10. NET (OUTGOING)/INCOMING RESOURCES FOR THE YEAR
This is stated after charging:
| This is stated after charging: | |
|---|---|
| Staff pension contributions Depreciation |
Period from Year to 1 Jun 21 to 31 May 23 31 May 22 £ £ |
| 737 824 1,000 333 |
11. STAFF COSTS AND EMOLUMENTS
Total staff costs were as follows:
| Total staff costs were as follows: | |
|---|---|
| Wages and salaries Social security costs Other pension costs |
Period from Year to 1 Jun 21 to 31 May 23 31 May 22 £ £ 90,774 83,691 - - 737 824 |
| 91,511 84,515 |
No employee received remuneration of more than £60,000 during the year (2022 - Nil).
12. UNRESTRICTED INCOME FUNDS
| General Funds | Balance at 1 June 2022 Incoming resources Balance at 31 May 2023 £ £ £ |
|---|---|
| (27,415) (3,000) (30,415) |
Play Planet Family Project Detailed Income Statement For The Year Ended 31 May 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| TURNOVER | ||||
| Sales | 103,321 | 93,821 | ||
| COST OF SALES | ||||
| Purchases | 5,875 | 39,848 | ||
| (5,875 ) | (39,848 ) | |||
| GROSS SURPLUS | 97,446 | 53,973 | ||
| Administrative Expenses | ||||
| Wages and salaries | 90,774 | 83,691 | ||
| Employers NI | - | 234 | ||
| Employers pensions - defined contributions scheme | 737 | 824 | ||
| Subcontractor costs | 1,479 | - | ||
| Staff training | - | 1,710 | ||
| Protective clothing | 13 | 240 | ||
| Staff expenses | 280 | 60 | ||
| Rent | 2,567 | 2,567 | ||
| Repairs and maintenance | 127 | 5,426 | ||
| Cleaning | 373 | 714 | ||
| Vehicle running costs | 155 | 1,873 | ||
| Insurance | 1,119 | 1,087 | ||
| Printing, postage and stationery | 212 | 1,532 | ||
| Telecommunications and data costs | 273 | 214 | ||
| Accountancy fees | 750 | 750 | ||
| Bank charges | 340 | 340 | ||
| Credit card charges | - | 37 | ||
| Depreciation | 1,000 | 333 | ||
| Sundry expenses | 287 | 399 | ||
| (100,486 ) | (102,031 ) | |||
| OPERATING DEFICIT | (3,040) | (48,058) | ||
| Other interest receivable and similar income | ||||
| Bank interest receivable | 40 | 85 | ||
| 40 | 85 | |||
| DEFICIT FOR THE FINANCIAL YEAR | (3,000 ) | (47,973 ) |