| Type ofgoverning document |
Articles ofAssociation | |
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| How the charity is constituted | Company limited by guarantee |
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| Trustee selection methods | Elected by members. Trustees can also be co-opted onto the Trustees by agreement ofthe Trustees. Any co-opted member will retire or be elected |
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| as a Trustee at the next AGM. | ||
| Additional governance issues |
(Optional information) |
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| You may choose to include additional information, where relevant, about: |
Registered by Ofsted on the Early Years Register and inspected accordingly. Operates under the Early Years Foundation Stage statutory framework. Member ofthe Early Years Alliance and partner ofEssex County Council Early Years and Childcare. |
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| policies and procedures adopted for the induction and |
Staff and trustees subject to Disclosure and Barring Service checks and | |
| training oftrustees; |
all hold enhanced disclosures. New staff members are appointed by the |
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| ~ | the charity's organisational structure and any wider network with which the charity works; |
trustees in consultation with the manager and business manager, who have received training in safer recruitment practices. All staff receive training in safeguarding children and the setting has two designated safeguarding lead officers and one deputy safeguarding lead officer. |
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relationship with any related parties; trustees' consideration of |
Trustees form the "Registered person"' under Ofsted requirements and have overall responsibility for the organisation. Daily running ofthe setting is led by the preschool manager, business manager and deputy preschool manager. |
| major risks and the system | ||
| and procedures to manage them. |
In line with the governing documents, the majority oftrustees are parents ofchildren at the preschool. |
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| Toenhance the development and education of children under statutory |
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| school age by encouraging parents to understand and provide for the |
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| needs oftheir children through community groups and by |
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| 1. offering appropriate play, education and care facilities and training |
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| courses, together with the right ofparents to take responsibility for |
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| Summary ofthe objects charity set out in its governing document |
ofthe | and to become involved in the activities ofsuch groups, ensuring the such groups offer opportunities for all children whatever their race, culture, religion, means or ability; 2. encouraging the study ofthe needs ofsuch children and their |
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| families and promoting public interest in and recognition ofsuch |
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| needs; | |||||
| 3. instigating and adhering to and furthering the aims and objects of |
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| the Early Years Alliance, | |||||
| Activities ofthe preschool are in line with the guidance and requirements |
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| ofthe Early Years Foundation Stage framework and are inspected and |
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| monitored by Ofsted. In December 2019the preschool was inspected by |
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| Ofsted and rated good. | |||||
| Since January 2020 the setting has a preschool manager and business |
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| manager, working together to make sure that the aims ofthe preschool |
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| are achieved, that the preschool remains sustainable and that the welfare |
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| and learning and development requirements ofthe EYFSare met. |
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| Summary ofthe main activities undertaken for the public benefit in relation to these objects {include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit) |
The preschool is an independent, voluntary setting and delivers free early education for 2-, 3- and 4-year-olds through a contract with Essex County Council. The setting offers eligible families up to30 hours per week of funded childcare, as part ofthe government*s extended offer. This enables the setting to contribute to the government aim ofproviding disadvantaged children and families with good early education and childcare. Fees are kept toa level which cover costs and provides sufficient funds to improve the service and resources we provide. Care is taken to ensure that families are not excluded because of inability to pay the fees and that families are welcomed whatever their circumstances |
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| and back grounds. Parents are able to become members ofthe |
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| preschool free ofcharge. Parents are encouraged to take up |
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| membership, volunteer at the preschool and become trustees. |
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| The charity trustees have had due regard to the guidance on public |
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| benefit published by the Charity Commission and have complied with the |
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| duty in section 4 ofthe charities Act 2006. |
| Briefstatement ofthe charity's policy on reserves |
Briefstatement ofthe charity's policy on reserves |
Briefstatement ofthe charity's policy on reserves |
The financial position at the end ofa normal running year remains strong with good cash reserves. There was no need for any fees to be refunded during the year. |
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| Little Owls Preschool holds | |||
| 1. an unrestricted fund ofno more than f40,000as a contingency to |
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| cover 3months running costs ifnecessary. This may be |
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| necessary to allow the preschool to continue running in the event |
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| ofa low number of children on roll over a period oftime. 2. An unrestricted fund of no more that f60,000 to be used on |
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| maintenance ofthe building and garden area and replacement of |
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| essential fixtures such as heating systems, flooring etc. This may |
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| in the future be necessary to provide funds towards a | |||
| replacement building when the current building comes to the end |
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| of its life. | |||
| As at 31August 2023, the reserves held were | |||
| 1. 35,726.58 | |||
| 2. 29,214.30 | |||
| Details ofany funds in deficit |
materially | There are no funds materially in deficit. |
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| Further financial review details |
(Optional information) |
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| You may choose to include additional information, where relevant about: ~ the charity's principal |
Fundraising returned to near normal levels, although the cost of living crisis has not helped this. The main fundraising was from a well- supported sponsored fun iun held in May, then a small raffle held at Christmas and a very small amount raised from the sale ofpreschool un- essential school uniform. |
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| sources offunds (including any fundraising); |
The main expense that the fundraising was used for was a large wooden outdoor storage unit that was bespoke built to enable the children to |
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how expenditure has supported the key objectives ofthe charity; investment policy and objectives including any |
access all outdoor toys. The sections ofthe perimeter fence and gate to the garden and gate to the side garden needed replacing to ensure the children were kept safe. Expenditure on other new resources was managed very carefully and the purchase ofait and craft resources was also managed carefully as we continue to use stock. |
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| ethical investment | policy | ||
| adopted. | Principal sources offunds: free early education entitlement funding from |
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| Essex County Council, fees, fundraising. |
| Notes | |||||
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| Fixed Assets | |||||
| Building Furniture, Equipment |
5.Toys | 187,967 6,316 |
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| Total Fixed Assets | 194„283 | ||||
| Current Assets | |||||
| Bank Current Account Bank Deposit Account Cash |
45,109 64,941 0 |
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| Debtors | 0 | ||||
| Total Current Assets | 110,D50 | ||||
| Current Liabilities | |||||
| Creditors Pre-paid fees Accruals 8committed Total Current Uabilities |
expenditure | 9,848 0 300 10,148 |
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| Net Current Assets | 99,902 | ||||
| Total Assets less Current Liabilities | 294,185 | ||||
| Capital 8 Reserves | |||||
| Unrestricted Reserves Unrestricted Reserves |
b/fwd transferred |
in | 106,331 0 |
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| Unrestricted Operating |
surplus for | year | -113 | ||
| Restricted Funds, Building | 187,967 | ||||
| Audit Exem tion Statement | 294,185 |
| 2021/22 | 2022/23 | |||
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| Notes | ||||
| Operating | Income | |||
| Fees Essex CC Funding Grant Registration Fees |
36,64? 119,092 40 |
39,366 115,?94 120 |
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| Fundraising | 2,413 | 2,461 | ||
| Donations / Other |
7,801 | 66 | ||
| interest Received | 6 | 231 | ||
| 165,995 | 158,038 | |||
| Operating | Expenditure | |||
| Payroli inol. Ni and Employer Pension Premises Costs 8 Repairs Business Rates |
124,59S 4,671 315 |
131,604 5,704 276 |
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| Utilities 8 Water | 4,023 | 2,621 | ||
| Catering costs | 774 | 820 | ||
| Consumables Minor equip items 8 repairs Office Costs 8 admin insurance |
3,346 946 3,299 2,768 |
3,397 3,912 1,941 2,922 |
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| Training | ?60 | 560 | ||
| Fundraising expenses |
925 | 1,009 | ||
| Miscellaneous expenditure |
663 | 1,001 | ||
| Depreciation | 1,917 | 2,385 | ||
| 14S,006 | 158,151 | |||
| Total Net | Operating Income |
16,989 |
| Fixed Ass | e | t Register | at 31August | 202 | 3depreciated | over 5years, s | traight line basi |
s | |||
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| Cost at acquisition |
Depn. b/f | NBV Blfwd | Depn. For period |
Depn. clfwd |
NBVat 31.8.23 |
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| Brought Forward | 826,902 | F19,185 | 67,717 | R2,287 | E21,472 | 85,430 | |||||
| Disposals | in period | EO | f.0 | FO | LO | RO | |||||
| Additions | in period | RO | 898 | ||||||||
| Balance | 27,886 | 19,185 | 2,385 | 21,570 | 6,316 | ||||||
| 8 | Reserves | ||||||||||
| 2022 | 2023 | ||||||||||
| Reserves blfwd Unrestricted Reserves |
transferred | in | 89,342 | 106,331 | |||||||
| Unrestricted Restricted |
Operating surplus for Funds, Building |
year | 16,989 199,024 |
' | -113 187,967 |
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| 305,355 | 294,185 |