REGISTERED COMPANY NUMBER: 06707472 (England and Wales) REGISTERED CHARITY NUMBER: 1128585
Report of the Trustees and
Unaudited Financial Statements
For The Year Ended 31st December 2023
for
Stowupland Preschool & The Mighty Oaks
John Phillips & Co Limited Accountants Unit 81 Centaur Court Claydon Business Park Gt. Blakenham Ipswich Suffolk IP6 0NL
Stowupland Preschool & The Mighty Oaks
Contents of the Financial Statements For The Year Ended 31st December 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 to 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 to 7 |
| Notes to the Financial Statements | 8 to 14 |
| Detailed Statement of Financial Activities | 15 to 16 |
Stowupland Preschool & The Mighty Oaks
Report of the Trustees For The Year Ended 31st December 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2023. The trustees have adopted the provisions of 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 1 January 2019).
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.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06707472 (England and Wales)
Registered Charity number
1128585
Registered office
Unit 81 Centaur Court Claydon Business Park Gt. Blakenham Ipswich Suffolk IP6 0NL
Trustees
Mrs M K Clifford Retail Manager (resigned 23/11/2023) Mrs V Freer Council Worker Mrs C E A Morgan Unemployed (appointed 23/11/2023)
Company Secretary
Mrs S E Faliveno
Independent Examiner
John Phillips & Co Limited Accountants Unit 81 Centaur Court Claydon Business Park Gt. Blakenham Ipswich Suffolk IP6 0NL
Approved by order of the board of trustees on 27th September 2024 and signed on its behalf by:
Page 1
Stowupland Preschool & The Mighty ogks Report of the Trus For The Year Ended 31st December 2023 Trustee Page 2
Independent Examiner's Report to the Trustees of Stowupland Preschool & The Mighty Oaks
Independent examiner's report to the trustees of Stowupland Preschool & The Mighty Oaks ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (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 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 charity'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.
Page 3
Independent Examiner's Report to the Trustees of Stowupland Preschool & The Mighty Oaks
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting 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
-
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 (FRS 102)).
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.
John Phillips and Co Limited
John Phillips & Co Limited Accountants Unit 81 Centaur Court Claydon Business Park Gt. Blakenham Ipswich Suffolk IP6 0NL
27th September 2024
Page 4
Stowupland Preschool & The Mighty Oaks
Statement of Financial Activities For The Year Ended 31st December 2023
| 2023 Unrestricted Restricted Total fund fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 148 3,810 3,958 Other trading activities 2 140,370 11,020 151,390 Total 140,518 14,830 155,348 EXPENDITURE ON Raising funds 3 157,537 17,782 175,319 Other 626 242 868 Total 158,163 18,024 176,187 NET INCOME/(EXPENDITURE) (17,645) (3,194) (20,839) RECONCILIATION OF FUNDS Total funds brought forward 43,645 1,276 44,921 TOTAL FUNDS CARRIED FORWARD 26,000 (1,918) 24,082 |
2022 Total funds £ 12,079 143,086 |
|---|---|
| 155,165 | |
| 142,725 3,210 |
|
| 145,935 | |
| 9,230 35,691 |
|
| 44,921 |
The notes form part of these financial statements
Page 5
Stowupland Preschool & The Mighty Oaks
Balance Sheet 31st December 2023
| Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Tangible assets 7 1,880 724 CURRENT ASSETS Stocks 8 200 - Debtors 9 894 - Cash at bank 49,133 - 50,227 - CREDITORS Amounts falling due within one year 10 (26,107) (2,642) NET CURRENT ASSETS/(LIABILITIES) 24,120 (2,642) TOTAL ASSETS LESS CURRENT LIABILITIES 26,000 (1,918) NET ASSETS 26,000 (1,918) FUNDS 12 Unrestricted funds Restricted funds TOTAL FUNDS |
2023 Total funds £ 2,604 200 894 49,133 50,227 (28,749) 21,478 24,082 24,082 26,000 (1,918) 24,082 |
2022 Total funds £ 2,908 200 894 67,497 68,591 (26,578) 42,013 44,921 44,921 43,645 1,276 44,921 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 charitable company.
The notes form part of these financial statements
Page 6
continued...
Stowupland Preschool & The Mighty Oaks
Balance Sheet - continued 31st December 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 27th September 2024 and were signed on its behalf by:
Trustee
The notes form part of these financial statements
Page 7
Stowupland Preschool & The Mighty Oaks
Notes to the Financial Statements For The Year Ended 31st December 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
continued...
Page 8
Stowupland Preschool & The Mighty Oaks
Notes to the Financial Statements - continued For The Year Ended 31st December 2023
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| Fundraising events Early education funding Pre-school fees Other Grants |
2023 £ 2,894 112,482 24,994 11,020 151,390 |
2022 £ 1,230 119,744 21,387 725 |
| 143,086 |
3. RAISING FUNDS
Raising donations and legacies
| Premises Insurance Telephone Postage and stationery Sundries & prof fees Companies House Support costs |
2023 £ 12,634 1,889 1,408 159 1,285 13 2,028 19,416 |
2022 £ 2,804 1,523 1,107 121 2,960 13 3,397 |
|---|---|---|
| 11,925 |
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 868 | 851 |
| Premises | 12,634 | 2,804 |
continued...
Page 9
Stowupland Preschool & The Mighty Oaks
Notes to the Financial Statements - continued For The Year Ended 31st December 2023
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2023 nor for the year ended 31st December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2023 nor for the year ended 31st December 2022.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 7,070 Other trading activities 142,361 Total 149,431 EXPENDITURE ON Raising funds 139,332 Other 807 Total 140,139 NET INCOME/(EXPENDITURE) 9,292 RECONCILIATION OF FUNDS Total funds brought forward 34,353 TOTAL FUNDS CARRIED FORWARD 43,645 |
Restricted fund £ 5,009 725 5,734 3,393 2,403 5,796 (62) 1,338 1,276 |
Total funds £ 12,079 143,086 |
|---|---|---|
| 155,165 | ||
| 142,725 3,210 |
||
| 145,935 | ||
| 9,230 35,691 |
||
| 44,921 |
continued...
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Stowupland Preschool & The Mighty Oaks
Notes to the Financial Statements - continued For The Year Ended 31st December 2023
7. TANGIBLE FIXED ASSETS
| COST At 1st January 2023 Additions At 31st December 2023 DEPRECIATION At 1st January 2023 Charge for year At 31st December 2023 NET BOOK VALUE At 31st December 2023 At 31st December 2022 8. STOCKS Stocks 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments |
2023 £ 200 2023 £ 894 |
Fixtures and fittings £ 21,197 564 |
Fixtures and fittings £ 21,197 564 |
|---|---|---|---|
| 21,761 | |||
| 18,289 868 |
|||
| 19,157 | |||
| 2,604 | |||
| 2,908 | |||
| 2022 £ 200 |
|||
| 2022 £ 894 |
continued...
Page 11
Stowupland Preschool & The Mighty Oaks
Notes to the Financial Statements - continued For The Year Ended 31st December 2023
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN | ONE YEAR | ||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Bank loans and overdrafts (see note 11) | 2,642 | - | ||
| Trade creditors | 402 | 402 | ||
| Social security and other taxes | - | 471 | ||
| Accruals and deferred income | 25,705 | 25,705 | ||
| 28,749 | 26,578 | |||
| 11. | LOANS | |||
| An analysis of the maturity of loans is given below: | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Amounts falling due within one year on demand: | ||||
| Bank overdrafts | 2,642 | - | ||
| 12. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.1.23 | in funds | 31.12.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 43,645 | (17,645) | 26,000 | |
| Restricted funds | ||||
| General fund | 1,276 | (3,194) | (1,918) | |
| TOTAL FUNDS | 44,921 | (20,839) | 24,082 |
continued...
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Stowupland Preschool & The Mighty Oaks
Notes to the Financial Statements - continued For The Year Ended 31st December 2023
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 140,518 Restricted funds General fund 14,830 TOTAL FUNDS 155,348 Comparatives for movement in funds At 1.1.22 £ Unrestricted funds General fund 34,353 Restricted funds General fund 1,338 TOTAL FUNDS 35,691 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 149,431 Restricted funds General fund 5,734 TOTAL FUNDS 155,165 |
Resources Movement expended in funds £ £ (158,163) (17,645) (18,024) (3,194) (176,187) (20,839) Net movement At in funds 31.12.22 £ £ 9,292 43,645 (62) 1,276 9,230 44,921 Resources Movement expended in funds £ £ (140,139) 9,292 (5,796) (62) (145,935) 9,230 |
|---|---|
continued...
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Stowupland Preschool & The Mighty Oaks
Notes to the Financial Statements - continued For The Year Ended 31st December 2023
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1.1.22 | in funds | 31.12.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 34,353 | (8,353) | 26,000 | |
| Restricted funds | ||||
| General fund | 1,338 | (3,256) | (1,918) | |
| TOTAL FUNDS | 35,691 | (11,609) | 24,082 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds General fund TOTAL FUNDS |
Incoming resources £ 289,949 20,564 310,513 |
Resources Movement expended in funds £ £ (298,302) (8,353) (23,820) (3,256) (322,122) (11,609) |
|---|---|---|
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2023.
Page 14
Stowupland Preschool & The Mighty Oaks
Detailed Statement of Financial Activities For The Year Ended 31st December 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Early years pupil premium SEN Other Grants Other trading activities Fundraising events Early education funding Pre-school fees Other Grants Total incoming resources EXPENDITURE Raising donations and legacies Premises Insurance Telephone Postage and stationery Sundries & prof fees Companies House Other trading activities Cost of fundraising Activities and crafts Wages Groceries & refreshments Hall Hire Staff training Activities & crafts |
2023 £ 100 3,810 48 3,958 2,894 112,482 24,994 11,020 151,390 155,348 12,634 1,889 1,408 159 1,285 13 17,388 532 4,084 128,982 4,122 865 1,359 15,959 155,903 |
2022 £ 70 5,009 7,000 |
|---|---|---|
| 12,079 1,230 119,744 21,387 725 |
||
| 143,086 | ||
| 155,165 2,804 1,523 1,107 121 2,960 13 |
||
| 8,528 304 2,788 118,141 3,546 824 752 4,445 |
||
| 130,800 |
This page does not form part of the statutory financial statements
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Stowupland Preschool & The Mighty Oaks
Detailed Statement of Financial Activities For The Year Ended 31st December 2023
| Other trading activities Other Wages Fixtures and fittings Support costs Finance Bank charges Information technology Repairs and renewals Governance costs Accountancy fees Total resources expended Net (expenditure)/income |
2023 £ - 868 868 72 816 1,140 176,187 (20,839) |
2022 £ 2,157 1,053 |
|---|---|---|
| 3,210 81 2,176 1,140 |
||
| 145,935 | ||
| 9,230 |
This page does not form part of the statutory financial statements
Page 16