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2021-12-31-accounts

STOWUPLAND PRESCHOOL & THE MIGHTY OAKS (Registered Number 06707472)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

STOWUPLAND PRESCHOOL & THE MIGHTY OAKS (A company limited by guarantee)

DIRECTORS AND TRUSTEES REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

HastingsWade Chartered Certified Accountants and Registered Auditors Stowmarket Suffolk

STOWUPLAND PRESCHOOL & THE MIGHTY OAKS (Registered Number 06707472)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

CONTENTS

Page
Directors’ and Trustees’ Report 1-2
Independent Examiner’s Report 3
Statement of Financial Activities 4
Balance Sheet 5-6
Notes to the Financial Statements 7-14

STOWUPLAND PRESCHOOL & THE MIGHTY OAKS (Registered Number 06707472) (A company limited by guarantee)

YEAR ENDED 31 DECEMBER 2021

REPORT OF THE DIRECTORS AND TRUSTEES

The Trustees, some of whom are also directors, present their report and the financial statements of the company for the year ended 31 December 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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 published in October 2019.

REFERENCE AND ADMINISTRATIVE INFORMATION

Charity Name - Stowupland Preschool & The Mighty Oaks Charity Registration Number - 1128585 Company Registration Number - 06707472 Registered office and Operational Address - Church Road, Stowupland, Suffolk IP14 4BQ

Committee

The overall management and control of the Preschool shall vest in the individual members of its management committee. This consists of the Committee Officers who are the company directors and trustees of the preschool, and not less than two nor more than nine elected Members.

Appointment of new Trustees

Trustees are elected at the AGM in accordance with the constitution.

Committee Officers

Megan Clifford Treasurer and Director Sarah Douglas Chairperson and Director (resigned 14 October 2021) Sarah Faliveno Secretary and Director Victoria Freer Chairperson and Director (appointed 14 October 2021)

Committee Members

Leanne Eaton Agnieszka Jeffery Catherine Page Katie Aristidou (appointed 11 November 2021) Laura Beall (appointed 14 October 2021) Laura Jarocki (appointed 14 October 2021)

1

STOWUPLAND PRESCHOOL & THE MIGHTY OAKS (Registered Number 06707472) (A company limited by guarantee)

YEAR ENDED 31 DECEMBER 2021

REPORT OF THE DIRECTORS AND TRUSTEES (CONTINUED)

Professional Advisers

Bankers - HSBC Bank, Stowmarket, 20 Market Place, Stowmarket, IP14 1DW (until August 2022) then HSBC Bank, 12 Tavern Street, Ipswich, IP1 3AZ.

Independent Examiner - Mrs Christine Wade FCCA , HastingsWade, Chartered Certified Accountants, 58-60 Stowupland Road, Stowmarket, Suffolk, IP14 5AL.

Legal Status

Stowupland Preschool & The Mighty Oaks is a private charitable company limited by guarantee without share capital incorporated on 25 September 2008 registered in England and Wales.

Principal Activities and Aims

The company is a registered charity (Registration Number 1128585) whose charitable objectives are to promote, maintain, improve and advance the development of education primarily under statutory school age. In furthering the aims of the charity, the Trustees have considered the Charity Commission’s guidance on public benefit. To this end, we provide education of children as described in the local area. To facilitate this work, it is important that the building is maintained to a suitable standard and staffing provisions remain appropriate and of a good standard.

Review of Developments

This financial year has seen another lockdown and a reduction in staff and numbers at the beginning of the financial year with fundraising events still not able to go ahead. However, as we reach a new academic year, September 2021, we have seen a positive increase in the numbers of children attending the setting; which has led to another member of staff joining the team. We remain hopeful that the increase in numbers and the ease of COVID restrictions mean we can return to normality within the setting.

Review of Risks

The Trustees have carried out a review of significant risks to which the charity may be exposed and have taken action to put in place necessary systems to mitigate those risks.

Reserves Policy

The Trustees aim to maintain sufficient funds within the bank account to ensure expenditure can be met for a period of three months in the event there is no income.

Small Company Exemption

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

This report was approved by the Board on 12[th] September 2022

Victoria Freer - Chairperson and Director

Megan Clifford – Treasurer and Director

Sarah Faliveno – Secretary and Director

2

STOWUPLAND PRESCHOOL & THE MIGHTY OAKS (Registered Number 06707472) (A company limited by guarantee)

YEAR ENDED 31 DECEMBER 2021

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF STOWUPLAND PRESCHOOL & THE MIGHTY OAKS

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2021 which are set out on pages 4 to 14.

Responsibilities and basis of report

As the charity’s trustees of the Company (who are also the directors of the company 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 accounts of the company 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 company’s accounts as carried out under section 145 of the Charities Act 2011 (“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.

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:

  1. accounting records were not kept in accordance with section 386 of the Companies Act 2006; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with relevant accounting requirements under 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 accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)).

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 accounts to be reached.

Christine D Wade FCCA HastingsWade Chartered Certified Accountants 58-60 Stowupland Road Stowmarket Suffolk IP14 5AL

26[th] September 2022

3

STOWUPLAND PRESCHOOL & THE MIGHTY OAKS (Registered Number 06707472) (A company limited by guarantee)

YEAR ENDED 31 DECEMBER 2021

STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account)

FOR THE YEAR ENDED 31 DECEMBER 2021

Note Unrestricted Restricted Total Total
Funds Funds 2021 2020
£ £ £ £
Incoming resources
Voluntary income 3 - - - 282
Activities for 3 1,535 - 1,535 1,499
generating funds
Incoming resources 3 126,383 4,924 131,307 99,249
from charitable
activities
Grants 3 2,219 3,062 5,281 8,313
------------ ------------ ------------ ------------
130,137 7,986 138,123 109,343
------------ ------------ ------------ ------------
Resources expended
Fundraising trading 4 336 - 336 139
costs
Charitable activities 4 109,661 7,771 117,432 102,350
Governance costs 4 8,956 - 8,956 7,582
------------ ------------ ------------ ------------
118,953 7,771 126,724 110,071
------------ ------------ ------------ ------------
Net incoming 11,184 215 11,399 (728)
resources
Gross transfers - - - -
between funds
------------ ------------ ------------ ------------
Net movement in 11,184 215 11,399 (728)
funds
Total funds brought 23,169 1,123 24,292 25,020
forward
------------ ------------ ------------ ------------
Total funds carried 34,353 1,338 35,691 24,292
forward
------------ ------------ ------------ ------------

The annexed notes form an integral part of these financial statements

4

STOWUPLAND PRESCHOOL & THE MIGHTY OAKS (Registered Number 06707472) (A company limited by guarantee)

YEAR ENDED 31 DECEMBER 2021

BALANCE SHEET AS AT 31 DECEMBER 2021

Note Unrestricted Restricted Total Total
fund fund 2021 2020
£ £ £ £
Fixed assets
Tangible assets 7 2,581 826 3,407 2,850
----------- ----------- ------------ ------------
Current assets
Stock 200 - 200 200
Debtors 8 814 - 814 3,213
Cash at bank and in 52,911 512 53,423 37,907
hand
------------ ------------ ------------ ------------
53,925 512 54,437 41,320
----------- ----------- ------------ ------------
Creditors: amounts 9 22,153 - 22,153 19,878
falling due within
one year
------------ ------------ ------------ ------------
Net current assets 31,772 512 32,284 21,442
------------ ------------ ------------ ------------
Net assets 34,353 1,338 35,691 24,292
------------ ------------ ------------ ------------
Funds
Unrestricted funds 34,353 - 34,353 23,169
Restricted funds - 1,338 1,338 1,123
------------ ------------ ------------ ------------
Total funds 34,353 1,338 35,691 24,292
------------ ------------ ------------ ------------

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

(Continued overleaf)

5

STOWUPLAND PRESCHOOL & THE MIGHTY OAKS (Registered Number 06707472) (A company limited by guarantee)

YEAR ENDED 31 DECEMBER 2021

BALANCE SHEET AS AT 31 DECEMBER 2021 (continued)

The financial statements were approved by the trustees on 12[th] September 2022

Signed on behalf of the Board

Victoria Freer - Chairperson and Director Megan Clifford – Treasurer and Director

Sarah Faliveno – Secretary and Director

The annexed notes form an integral part of these financial statements

6

STOWUPLAND PRESCHOOL & THE MIGHTY OAKS (Registered Number 06707472) (A company limited by guarantee)

YEAR ENDED 31 DECEMBER 2021

NOTES

1 STATUTORY INFORMATION

Stowupland Preschool & The Mighty Oaks is a private company, limited by guarantee, registered in England and Wales. The company’s registered number and registered address can be found on page 1 of the financial statements. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

2 BASIS OF PREPARATION

The charity constitutes a public benefit entity as defined by FRS102. 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 issued October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest pound.

a) Incoming resources

These are included in the Statement of Financial Activities (SoFA) when:

b) Liability recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

c) Grants payable

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.

d) Tangible fixed assets for use by the charity

These are capitalised if they can be used for more than one year and cost at least £100. They are valued at cost.

Depreciation is provided at 25% reducing balance in order to write off each asset over its estimated useful life.

e) Stocks

These are valued at the lower of cost or market value.

7

STOWUPLAND PRESCHOOL & THE MIGHTY OAKS (Registered Number 06707472) (A company limited by guarantee)

YEAR ENDED 31 DECEMBER 2021

NOTES (CONTINUED)

3 ANALYSIS OF INCOMING RESOURCES

Voluntary income
2021 2020
£ £
Donations - 282
--------- ---------
Activities for generating
funds
2021 2020
£ £
Fundraising 1,535 1,338
Clothing sales - 161
--------- ---------
1,535 1,499
--------- ---------
Incoming resources from
charitable activities
2021 2020
£ £
Unrestricted income
funds
Early education funding 108,796 83,496
(EYFS)
Additional special grant 100 513
Fees-preschool 17,487 12,879
------------ ------------
126,383 96,888
Restricted income funds
Early years pupil premium, 4,924 2,361
Additional special grant and
SEN High Tariff and
Inclusion
------------ ------------
131,307 99,249
------------ ------------

8

STOWUPLAND PRESCHOOL & THE MIGHTY OAKS (Registered Number 06707472) (A company limited by guarantee)

YEAR ENDED 31 DECEMBER 2021

NOTES (CONTINUED)

3 ANALYSIS OF INCOMING RESOURCES (CONTINUED)

Grants
2021 2020
£ £
Unrestricted income
funds
Covid-19 Grants 1,719 7,063
Other Grant 500 -
----------- -----------
2,219 7,063
---------- ----------
Restricted income funds
Locality and Council Grants 3,062 1,250
------------ -----------
3,062 1,250
------------ ------------
Total Grants 5,281 8,313
----------- -----------
4 ANALYSIS OF RESOURCES EXPENDED
Fundraising trading costs
2021 2020
£ £
Cost of fundraising 336 139
--------- ---------
336 139
--------- ---------

9

STOWUPLAND PRESCHOOL & THE MIGHTY OAKS (Registered Number 06707472) (A company limited by guarantee)

YEAR ENDED 31 DECEMBER 2021

NOTES (CONTINUED)

4 ANALYSIS OF RESOURCES EXPENDED (CONTINUED)

Charitable activities
2021 2020
£ £
Unrestricted funds
Wages, fees and NI 102,750 92,571
contributions
Activities and crafts 2,577 528
Groceries and 1,988 2,326
refreshments
Hall hire 500 120
Repairs and renewals 585 160
Staff training 511 918
Depreciation and loss on 750 1,148
disposal
----------- ------------
109,661 97,771
------------ ------------
2021 2020
£ £
Restricted funds
Wages, fees and NI 2,068 330
contributions
Activities and crafts 2,639 4,249
Repairs and renewals 328 -
Repairs to premises 2,640 -
Depreciation 96 -
----------- -----------
7,771 4,579
----------- -----------
Total 117,432 102,350
---------------- ----------------

10

STOWUPLAND PRESCHOOL & THE MIGHTY OAKS (Registered Number 06707472) (A company limited by guarantee)

YEAR ENDED 31 DECEMBER 2021

NOTES (CONTINUED)

4 ANALYSIS OF RESOURCES EXPENDED (CONTINUED)

Governance costs
2021 2020
£ £
Communications 1,041 994
Postage, stationery & 721 648
copying
Insurances 1,442 1,271
Premises 1,908 2,191
Sundry and professional 2,751 1,085
fees (includes registration
and licence fees)
Companies House fee 13 13
Independent Examiner’s 1,080 1,380
fee
------------ ------------
8,956 7,582
------------ ------------
5 TRANSACTIONS WITH TRUSTEES
There were no payments to Trustees in 2021 or 2020.
6 STAFF COSTS
2021 2020
Average number of employees
7 11
----------- -----------
No employees received total employment benefits of more than £60,000 (2020: nil).
There is a NEST pension scheme operated by the charity.
2021 2020
£ £
Wages and salaries 102,351 90,801
Social security - -
Defined contribution pension costs 2,440 2,100
----------- -----------
104,791 92,901
----------- -----------

11

STOWUPLAND PRESCHOOL & THE MIGHTY OAKS (Registered Number 06707472) (A company limited by guarantee)

YEAR ENDED 31 DECEMBER 2021

NOTES (CONTINUED)

7 TANGIBLE FIXED ASSETS

Fixtures, fittings &
equipment
£
Cost
At 1 January 2021 21,637
Additions 1,402
Disposals (99)
-----------
At 31 December 2021 22,940
-----------
Depreciation
At 1 January 2021 18,787
Charge for the year 836
Depreciation on disposals (90)
-----------
At 31 December 2021 19,533
-----------
Net book value at 31 December 2021 3,407
-----------
Net book value at 31 December 2020 2,850
, -----------

8 DEBTORS

2021 2020
£ £
Trade debtors 108 2,286
Prepayments 706 927
------------ ------------
814 3,213
------------ ------------

12

STOWUPLAND PRESCHOOL & THE MIGHTY OAKS (Registered Number 06707472) (A company limited by guarantee)

YEAR ENDED 31 DECEMBER 2021

NOTES (CONTINUED)

9 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021 2020
£ £
Trade creditors 672 379
Accruals and deferred income 21,010 19,127
Tax and Social Security 471 372
------------ ------------
22,153 19,878
------------ ------------

10 RESTRICTED FUNDS

The restricted funds include funding that has to be spent on resources or staffing to help assist the child in their learning and development and the net book value at the year-end of equipment purchased from a Locality Grant.

11 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Restricted Total Total
funds Funds Funds Funds
2021 2021 2021 2020
£ £ £ £
Tangible fixed 2,581 826 3,407 2,850
assets
Net current assets 31,772 512 32,284 21,442
----------- ----------- ----------- -----------
Net assets 34,353 1,338 35,691 24,292
----------- ----------- ----------- -----------
Unrestricted Restricted Total Total
funds Funds Funds Funds
2020 2020 2020 2019
£ £ £ £
Tangible fixed 2,850 - 2,850 3,350
assets
Net current assets 20,319 1,123 21,442 21,670
----------- ----------- ----------- -----------
Net assets 23,169 1,123 24,292 25,020
----------- ----------- ----------- -----------

13

STOWUPLAND PRESCHOOL & THE MIGHTY OAKS (Registered Number 06707472) (A company limited by guarantee)

YEAR ENDED 31 DECEMBER 2021

NOTES (CONTINUED)

12 MOVEMENT IN FUNDS

At 1 January Incoming Outgoing Transfers At 31 December Transfers At 31 December
2021 Resources Resources 2021
£ £ £ £ £
Unrestricted funds 23,169 130,137 (118,953) - 34,353
Restricted funds 1,123 7,986 (7,771) - 1,338
----------- ----------- ----------- ----------- -----------
24,292 138,123 (126,724) - 35,691
====== ====== ====== ======
 ======
At 1 January Incoming Outgoing Transfers At 31 December
2020 Resources Resources 2020
£ £ £ £ £
Unrestricted funds
22,929		 105,732 (105,492) - 23,169
Restricted funds 2,091 3,611 (4,579) - 1,123
----------- ----------- ----------- ----------- -----------
25,020 109,343 (110,071) - 24,292
====== ====== ====== ====== ======

13 RELATED PARTIES

There were no related party transactions in the year.

14 CAPITAL COMMITMENTS

The company had no capital commitments at 31 December 2021 or 31 December 2020.

15 CONTROLLING PARTY

The charity is controlled by the Trustees.

14