REGISTERED CHARITY NUMBER: 11390949
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2020
for
Little Acorns Our Lady Preschool
Welch and Ellis The Fort Artillery Business Park Oswestry Shropshire SY11 4AD
Little Acorns Our Lady Preschool
Contents of the Financial Statements for the Year Ended 31 August 2020
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 10 |
| Detailed Statement of Financial Activities | 11 to 12 |
Little Acorns Our Lady Preschool
Report of the Trustees
for the Year Ended 31 August 2020
The trustees present their report with the financial statements of the charity for the year ended 31 August 2020. 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 an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 11390949
Principal address
Upper Brook Street Oswestry Shropshire SY12 2TG
Trustees
Mrs K M Hughes Trustee Miss S Martin Trustee
Independent Examiner
Andrew Snook Welch and Ellis The Fort Artillery Business Park Oswestry Shropshire SY11 4AD
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................... Trustee
Page 1
Independent Examiner's Report to the Trustees of Little Acorns Our Lady Preschool
Independent examiner's report to the trustees of Little Acorns Our Lady Preschool
I report to the charity trustees on my examination of the accounts of Little Acorns Our Lady Preschool (the Trust) for the year ended 31 August 2020.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Andrew Snook Welch and Ellis
Date: .............................................
Page 2
Little Acorns Our Lady Preschool
Statement of Financial Activities for the Year Ended 31 August 2020
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Shropshire County Council Other trading activities 2 Investment income 3 Other income Total EXPENDITURE ON Raising funds 4 Charitable activities Shropshire County Council Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.8.20 Unrestricted fund £ (1) 86,907 19,228 39 2,508 108,681 5,835 11,259 70,122 87,216 21,465 78,869 100,334 |
31.8.19 Total funds £ 1 66,441 31,153 42 4,929 |
|---|---|---|
| 102,566 6,831 18,018 65,419 |
||
| 90,268 | ||
| 12,298 66,571 |
||
| 78,869 |
The notes form part of these financial statements
Page 3
Little Acorns Our Lady Preschool
Balance Sheet
31 August 2020
| Notes FIXED ASSETS Tangible assets 7 CURRENT ASSETS Debtors 8 Cash at bank and in hand CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 10 Unrestricted funds TOTAL FUNDS |
31.8.20 Unrestricted fund £ 2,348 105 97,976 98,081 (95) 97,986 100,334 100,334 100,334 100,334 |
31.8.19 Total funds £ 1,579 390 77,618 78,008 (718) 77,290 78,869 78,869 78,869 78,869 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
Page 4
Little Acorns Our Lady Preschool
Notes to the Financial Statements for the Year Ended 31 August 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. 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.
Taxation
The charity is exempt from 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.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Page 5
continued...
Little Acorns Our Lady Preschool
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
| 2. OTHER TRADING ACTIVITIES Fundraising events Fees Uniform 3. INVESTMENT INCOME Interest receivable - trading 4. RAISING FUNDS Investment management costs Rent collection |
31.8.20 £ 392 18,767 69 19,228 31.8.20 £ 39 31.8.20 £ 650 |
31.8.19 £ 983 30,048 122 |
|---|---|---|
| 31,153 | ||
| 31.8.19 £ 42 31.8.19 £ 550 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 1 |
| Charitable activities | |
| Shropshire County Council | 66,441 |
| Other trading activities | 31,153 |
| Investment income | 42 |
| Other income | 4,929 |
| Total | 102,566 |
| EXPENDITURE ON | |
| Raising funds | 6,831 |
| Page 6 | continued... |
Little Acorns Our Lady Preschool
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted | |||||
|---|---|---|---|---|---|
| fund | |||||
| £ | |||||
| Charitable activities | |||||
| Shropshire County Council | 18,018 | ||||
| Other | 65,419 | ||||
| Total | 90,268 | ||||
| NET INCOME | 12,298 | ||||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 66,571 | ||||
| TOTAL FUNDS CARRIED | |||||
| FORWARD | 78,869 | ||||
| 7. | TANGIBLE FIXED ASSETS | ||||
| Fixtures | |||||
| and | Computer | ||||
| fittings | equipment | Totals | |||
| £ | £ | £ | |||
| COST | |||||
| At 1 September 2019 | 1,579 | - | 1,579 | ||
| Additions | - | 769 | 769 | ||
| At 31 August 2020 | 1,579 | 769 | 2,348 | ||
| NET BOOK VALUE | |||||
| At 31 August 2020 | 1,579 | 769 | 2,348 | ||
| At 31 August 2019 | 1,579 | - | 1,579 |
Page 7
continued...
Little Acorns Our Lady Preschool
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
| 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors 10. MOVEMENT IN FUNDS At 1.9.19 £ Unrestricted funds General fund 78,869 TOTAL FUNDS 78,869 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 108,681 TOTAL FUNDS 108,681 Comparatives for movement in funds At 1.9.18 £ Unrestricted funds General fund 66,571 TOTAL FUNDS 66,571 |
31.8.20 £ 105 31.8.20 £ 95 Net movement in funds £ 21,465 21,465 Resources expended £ (87,216) (87,216) Net movement in funds £ 12,298 12,298 |
31.8.19 £ 390 31.8.19 £ 718 At 31.8.20 £ 100,334 100,334 Movement in funds £ 21,465 21,465 At 31.8.19 £ 78,869 78,869 |
|---|---|---|
Page 8
continued...
Little Acorns Our Lady Preschool
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement |
|---|---|---|
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 102,566 |
(90,268) | 12,298 |
| TOTAL FUNDS 102,566 |
(90,268) | 12,298 |
| A current year 12 months and prior year 12 months combined position is as follows: | ||
| Net | ||
| movement | At | |
| At 1.9.18 | in funds | 31.8.20 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 66,571 |
33,763 | 100,334 |
| TOTAL FUNDS 66,571 |
33,763 | 100,334 |
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 TOTAL FUNDS |
Incoming resources £ 211,247 211,247 |
Resources expended £ (177,484) (177,484) |
Movement in funds £ 33,763 33,763 |
|---|---|---|---|
Page 9
continued...
Little Acorns Our Lady Preschool
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2020.
Page 10
Little Acorns Our Lady Preschool
| Detailed Statement of Financial Activities for the Year Ended 31 August 2020 INCOME AND ENDOWMENTS Donations and legacies Gifts Other trading activities Fundraising events Fees Uniform Investment income Interest receivable - trading Charitable activities Grants Other income Meals Trips Total incoming resources EXPENDITURE Raising donations and legacies Maintenance Other trading activities Pensions Bad debts Investment management costs Rent collection Charitable activities Rates and water Light and heat Carried forward |
31.8.20 £ (1) 392 18,767 69 19,228 39 86,907 2,412 96 2,508 108,681 3,690 1,495 - 1,495 650 630 - 630 |
31.8.19 £ 1 983 30,048 122 |
|---|---|---|
| 31,153 42 66,441 4,646 283 |
||
| 4,929 | ||
| 102,566 1,430 1,163 3,688 |
||
| 4,851 550 373 1,399 1,772 |
This page does not form part of the statutory financial statements
Page 11
Little Acorns Our Lady Preschool
Detailed Statement of Financial Activities for the Year Ended 31 August 2020
| Charitable activities Brought forward Telephone Postage and stationery Sundries Professional Fees Travel Cleaning Meals Computer Costs Services Training Supplies / Purchases Licenses Uniform Other Wages Social security Office Expenses Trips Staff Support costs Information technology Repairs and renewals Governance costs Auditors' remuneration for non audit work Total resources expended Net income |
31.8.20 £ 630 110 370 382 185 207 442 2,431 185 730 455 4,320 418 - 10,865 66,402 2,538 - 347 - 69,287 394 835 87,216 21,465 |
31.8.19 £ 1,772 40 22 - 429 370 1,690 3,605 - 762 315 7,653 192 208 |
|---|---|---|
| 17,058 59,190 4,067 490 944 8 |
||
| 64,699 960 720 |
||
| 90,268 | ||
| 12,298 |
This page does not form part of the statutory financial statements
Page 12