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2020-12-31-accounts

Charity Registration No. 1127983

Company Registration No. 06772134 (England and Wales)

YAXLEY AND MELLIS PRE-SCHOOL

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

YAXLEY AND MELLIS PRE-SCHOOL

LEGAL AND ADMINISTRATIVE INFORMATION

Committee Mrs S Partridge
Mrs L Clifford
Mrs Amy Young (Appointed 22 October 2020)
Mrs Charlotte Bloomfield (Appointed 22 October 2020)
Secretary Mrs Fiona Charnley
Charity number 1127983
Company number 06772134
Principal address Yaxley Road
Mellis
Eye
Suffolk
IP23 8DY
Independent examiner Waveney Accountants Limited
T/as Newman & Co
Chartered Accountants
4b Church Street
Diss
Norfolk
IP22 4DD

YAXLEY AND MELLIS PRE-SCHOOL

CONTENTS

Page
Committee's report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 10

YAXLEY AND MELLIS PRE-SCHOOL

FOR THE YEAR ENDED 31 DECEMBER 2020

COMMITTEE'S REPORT (INCLUDING DIRECTORS' REPORT)

The committee present their report and financial statements for the year ended 31 December 2020.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity 's deed of trust , the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

We are regulated by Ofsted, governed by the Early Years Framework and are members of the Preschool Learning Alliance. The Preschool was inspected by Ofsted after the year end in May 2019 and we were very pleased to be awarded 'Good' under the grading criteria.

The preschool's purpose is to provide education in compliance with the Statutory Framework for Early Years Foundation Stage for children aged 24 to 60 months. Our aim is to constantly monitor our service and ensure we strive to provide the best possible early years education we can.

We are positioned between the Yaxley and Mellis villages, set inside the grounds of Mellis Church of England Voluntary Controlled Primary school. The preschool maintains close links with the Primary school. This ensures an excellent and seamless transition to the Primary education system. Parental feedback and initial teaching assessments praises the ease at which our children have settled in to school life.

Our long term objective is promoting inclusion and working in partnership with each child's parents or carers. Families of all attending children are strongly encouraged to participate in aspects of the preschool through parent interactions days, fundraising and school trips.

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

Significant activities

Government imposed COVID 19 regulations have dictated some of the operational processes of the preschool for the last year. We have remained open but had to change some of the structure of provision to be able to adhere to guidelines. We had to put half the staff on furlough and the remaining staff on flexi-furlough in order to open safely. The out of hours has continued to operate 5 days a week, other than when the setting has been closed in line with Government COVID 19 regulations around isolation.

Public benefit

In all decision making the trustees have had due regard to the guidance published by the Charity Commission in relation to public benefit.

Achievements and performance

Fundraising was difficult due to the Covid 19 pandemic.

Financial review

The preschool is principally funded by the Government. A before and after school club has generated additional income to ensure that the setting is able to operate sustainably.

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

The preschool has no investments.

YAXLEY AND MELLIS PRE-SCHOOL

COMMITTEE'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

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

Structure, governance and management

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

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

Mrs S Partridge Mrs S J Yaxley (Resigned 22 October 2020) Mrs J Moore (Resigned 22 October 2020) Mrs L Clifford Mrs M Schmidt (Resigned 22 October 2020) Mrs Amy Young (Appointed 22 October 2020) Mrs Charlotte Bloomfield (Appointed 22 October 2020) Mrs Fiona Charnley (Appointed 22 October 2020 and resigned 11 January 2021)

Recruitment and appointment of new trustees

The committee are all volunteers who give up their time to take on roles. The minimum members to maintain the preschool as per Ofsted guidelines is 5. At close of 2020 we have 6 committee members made up of 5 Directors and 1 parent members.

Decision making

All aspects of the preschool are discussed with the committee and decisions are all voted on to ensure the best outcome for the preschool. We hold regular Directors only meetings to discuss all aspects of the preschool, including strategy, staff wages, staffing levels and policies. The Chair person also has a series of 1:1 meetings with staff to ensure good information dissemination and support team working strategies.

Induction and training of new trustees

The committee have no formal training or induction and roles are taken and learnt as the year progresses. We adhere to the Preschools 'suitable person' policy. We have in place the minimum of Chairperson, Secretary, Treasurer and Ofsted nominated person as well as one volunteer in order to continue as a preschool.

The committee's r eport was approved by the Board of Committee.

Mrs Amy Young

Trustee Dated: 29 October 2021

YAXLEY AND MELLIS PRE-SCHOOL

To The Committee Of Yaxley And Mellis Pre-School

INDEPENDENT EXAMINER'S REPORT

I report to the committee on my examination of the financial statements of Yaxley And Mellis Pre-school (the ) for the year ended 31 December 2020.

Responsibilities and basis of report

As the committee of the (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the ’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Wayne Goddard FCCA ACA CTA

T/as Newman & Co Chartered Accountants 4b Church Street Diss Norfolk IP22 4DD

Dated: 29 October 2021

YAXLEY AND MELLIS PRE-SCHOOL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted
Restricted
funds
funds
2020
2020
Notes
£
£
Income from:
Charitable activities
2
106,327
-
Other trading activities
3
240
-
Total income
106,567
-
Expenditure on:
Charitable activities
4
112,542
-
Net (expenditure)/income for
the year/
Net movement in funds
(5,975)
-
Fund balances at 1
January 2020
43,099
276,847
Fund balances at 31
December 2020
37,124
276,847		 Total
Unrestricted
Restricted
funds
funds
2020
2019
2019
£
£
£
106,327
115,302
-
240
1,344
-
106,567
116,646
-
112,542
111,155
-
(5,975)
5,491
-
319,946
37,608
276,847
313,971
43,099
276,847		 Total
2019
£
115,302
1,344
116,646
111,155
5,491
314,455
319,946

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

YAXLEY AND MELLIS PRE-SCHOOL

BALANCE SHEET

AS AT 31 DECEMBER 2020

Notes
Fixed assets
Tangible assets
8
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within one
year
10
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
Unrestricted funds - general		 2020
£
537
32,725
33,262
-		 £
280,709
33,262
313,971
276,847
37,124
313,971		 2019
£
-
33,294
33,294
(215)		 £
286,867
33,079
319,946
276,847
43,099
319,946

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2020.

The Directors/Trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements , so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Committee on 29 October 2021

Mrs Amy Young Trustee

Company Registration No. 06772134

YAXLEY AND MELLIS PRE-SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

Charity information

Yaxley And Mellis Pre-school is a private company limited by guarantee incorporated in England and Wales. The registered office is .

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's deed of trust, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The is a Public Benefit Entity as defined by FRS 102.

The has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling , which is the functional currency of the . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

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

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the committee in furtherance of their charitable objectives.

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

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

1.4 Income

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

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

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

1.5 Expenditure

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost relating to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

YAXLEY AND MELLIS PRE-SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

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

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

Freehold land and buildings 2% on cost Fixtures, fittings and equipment 25% on cost

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

1.7 Impairment of fixed assets

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

1.8 Cash and cash equivalents

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

1.9 Financial instruments

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

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

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

Basic financial assets

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

Basic financial liabilities

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

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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

YAXLEY AND MELLIS PRE-SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

Derecognition of financial liabilities

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

2 Charitable activities

Pre-school Pre-school
Income Income
2020 2019
£ £
Fees 33,097 49,809
Clubs & activities 1,416 3,151
Funding 71,814 62,342
106,327 115,302

3 Other trading activities

Unrestricted Unrestricted
funds funds
general general
2020 2019
£ £
Fundraising events 240 1,344
4 Charitable activities
Pre-school Pre-school
Expenditure Expenditure
2020 2019
£ £
Depreciation and impairment 6,158 6,555
Wages 93,080 85,121
Pensions 2,693 1,191
Clubs & activities 314 1,127
102,245 93,994
Share of support costs (see note 5) 10,297 17,161
112,542 111,155

YAXLEY AND MELLIS PRE-SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

5 Support costs

Support costs
Support costs Governance
costs
£
£
Advertising
-
-
Sundry expenses
392
-
General running &
maintenance
7,354
-
Equipment & materials
2,192
-
Training & courses
359
-
10,297
-
Analysed between
Charitable activities
10,297
-		 2020Support costs
Governance
costs
£
£
£
-
210
-
392
634
-
7,354
6,398
-
2,192
5,372
-
359
4,547
-
10,297
17,161
-
10,297
17,161
-		 2019
£
210
634
6,398
5,372
4,547
17,161
17,161

6 Committee

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

7 Employees

The average monthly number of employees during the year was:

2020 2019
Number Number
8 7
8 Tangible fixed assets
Freehold land
Fixtures, fittings		 Total
and buildings
and equipment
£
£		 £
Cost
At 1 January 2020 291,598
19,677		 311,275
At 31 December 2020 291,598
19,677		 311,275
Depreciation and impairment
At 1 January 2020 5,832
18,576		 24,408
Depreciation charged in the year 5,832
326		 6,158
At 31 December 2020 11,664
18,902		 30,566
Carrying amount
At 31 December 2020 279,934
775		 280,709
At 31 December 2019 285,766
1,101		 286,867

YAXLEY AND MELLIS PRE-SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

8 Tangible fixed assets

(Continued)

9
Debtors
Amounts falling due within one year:
Trade debtors
10
Creditors: amounts falling due within one year
Accruals and deferred income
11
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2020
2020
£
£
Fund balances at 31
December 2020 are
represented by:
Tangible assets
280,709
-
Current assets/(liabilities)
33,262
-
313,971
-		 Total
Unrestricted
funds
2020
2019
£
£
280,709
286,867
33,262
33,079
313,971
319,946		 2020
£
537
2020
£
-
Restricted
funds
2019
£
-
-
-		 2019
£
-
2019
£
215
Total
2019
£
286,867
33,079
319,946

12 Related party transactions

There were no disclosable related party transactions during the year (2019 - none) .