REGISTERED CHARITY NUMBER: 1130949
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 August 2024
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 2024
| 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 2024
The trustees present their report with the financial statements of the charity for the year ended 31 August 2024. 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
1130949
Principal address Upper Brook Street Oswestry Shropshire SY12 2TG
Trustees
Mrs K M Hughes Trustee Mrs K Schofield Trustee
Independent Examiner
Rob Ellis 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 2024.
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 2. 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.
Rob Ellis
Welch and Ellis
Date: .............................................
Page 2
Little Acorns Our Lady Preschool
| Statement of Financial | Activities | |||
|---|---|---|---|---|
| for the Year Ended 31 |
August | |||
| 2024 | ||||
| 31.8.24 | 31.8.23 | |||
| Unrestricted | Total | |||
| fund | funds | |||
| Notes | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Charitable activities | ||||
| Shropshire County Council | 113,716 | 85,943 | ||
| Other trading activities | 2 | 14,990 | 19,520 | |
| Investment income | 3 | 458 | 232 | |
| Other income | 301 | 1,225 | ||
| Total | 129,465 | 106,920 | ||
| EXPENDITURE ON | ||||
| Raising funds | 4 | 9,067 | 17,539 | |
| Charitable activities | ||||
| Shropshire County Council | 16,478 | 11,131 | ||
| Other | 83,004 | 65,741 | ||
| Total | 108,549 | 94,411 | ||
| NET INCOME | 20,916 | 12,509 | ||
| Other recognised gains/(losses) | ||||
| Gains on revaluation of fixed assets | 116 | - | ||
| Net movement in funds | 21,032 | 12,509 | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 100,362 | 87,853 | ||
| TOTAL FUNDS CARRIED FORWARD | 121,394 | 100,362 |
The notes form part of these financial statements
Page 3
Little Acorns Our Lady Preschool
Balance Sheet
31 August 2024
| FIXED ASSETS Notes Tangible assets 7 CURRENT ASSETS Cash at bank and in hand CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9 Unrestricted funds TOTAL FUNDS |
31.8.24 31.8.23 Unrestricted Total fund funds £ £ 7,458 7,458 114,834 93,739 (898) (835) 113,936 92,904 121,394 100,362 121,394 100,362 121,394 100,362 121,394 100,362 |
|---|---|
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 2024
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 2024
2. OTHER TRADING ACTIVITIES
| Fundraising events Fees 3. INVESTMENT INCOME Interest receivable - trading 4. RAISING FUNDS Raising donations and legacies Maintenance Support costs Investment management costs Rent collection Aggregate amounts |
31.8.24 £ 2,582 12,408 14,990 31.8.24 £ 458 31.8.24 £ 891 - 891 31.8.24 £ 3,821 9,067 |
31.8.23 £ - 19,520 |
|---|---|---|
| 19,520 | ||
| 31.8.23 £ 232 31.8.23 £ 6,763 1,436 8,199 31.8.23 £ 2,613 17,539 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.
Page 6
continued...
Little Acorns Our Lady Preschool
| Notes | to the |
Financial | Statements - |
continued |
|---|---|---|---|---|
| for the | Year | Ended 31 | August 2024 |
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
7.
| Unrestricted | ||||
|---|---|---|---|---|
| fund | ||||
| £ | ||||
| INCOME AND ENDOWMENTS FROM | ||||
| Charitable activities | ||||
| Shropshire County Council | 85,943 | |||
| Other trading activities | 19,520 | |||
| Investment income | 232 | |||
| Other income | 1,225 | |||
| Total | 106,920 | |||
| EXPENDITURE ON | ||||
| Raising funds | 17,539 | |||
| Charitable activities | ||||
| Shropshire County Council | 11,131 | |||
| Other | 65,741 | |||
| Total | 94,411 | |||
| NET INCOME | 12,509 | |||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 87,853 | |||
| TOTAL FUNDS CARRIED FORWARD | 100,362 | |||
| TANGIBLE FIXED ASSETS | ||||
| Improvements | Fixtures | |||
| to | and | Computer | ||
| property | fittings | equipment | Totals | |
| £ | £ | £ | £ | |
| COST | ||||
| At 1 September 2023 and | ||||
| 31 August 2024 | 4,680 | 1,579 | 1,199 | 7,458 |
| NET BOOK VALUE | ||||
| At 31 August 2024 | 4,680 | 1,579 | 1,199 | 7,458 |
| At 31 August 2023 | 4,680 | 1,579 | 1,199 | 7,458 |
Page 7
continued...
Little Acorns Our Lady Preschool
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors 9. MOVEMENT IN FUNDS At 1.9.23 £ Unrestricted funds General fund 100,362 TOTAL FUNDS 100,362 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 129,465 (108,549) TOTAL FUNDS 129,465 (108,549) Comparatives for movement in funds At 1.9.22 £ Unrestricted funds General fund 87,853 TOTAL FUNDS 87,853 |
31.8.24 31.8.23 £ 898 £ 835 Net movement At in funds 31.8.24 £ £ 21,032 121,394 21,032 121,394 Gains and Movement losses in funds £ £ 116 21,032 116 21,032 Net movement At in funds 31.8.23 £ £ 12,509 100,362 12,509 100,362 |
|---|---|
Page 8
continued...
Little Acorns Our Lady Preschool
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 106,920 106,920 |
Resources Movement expended in funds £ £ (94,411) 12,509 (94,411) 12,509 |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At At 1.9.22 in funds 31.8.24 £ £ £ 87,853 33,541 121,394 87,853 33,541 121,394 |
|---|---|
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 £ 236,385 236,385 |
Resources expended £ (202,960) (202,960) |
Gains and losses £ 116 116 |
Movement in funds £ 33,541 33,541 |
|---|---|---|---|---|
Page 9
continued...
Little Acorns Our Lady Preschool Notes to the Financial Statements - continued for the Year Ended 31 August 2024
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2024.
Page 10
Little Acorns Our Lady Preschool Detailed Statement of Financial Activities for the Year Ended 31 August 2024
INCOME AND ENDOWMENTS Other trading activities Fundraising events Fees Investment income Interest receivable - trading Charitable activities Grants Other income Meals Trips Uniform Sensory Cube Total incoming resources EXPENDITURE Raising donations and legacies Maintenance Other trading activities Purchases Pensions Investment management costs Rent collection Charitable activities Light and heat Telephone Postage and stationery Advertising Carried forward |
31.8.24 £ 2,582 12,408 14,990 458 113,716 162 30 109 - 301 129,465 891 950 3,405 4,355 3,821 1,449 128 391 134 2,102 |
31.8.23 £ - 19,520 |
|---|---|---|
| 19,520 232 85,943 908 270 37 10 |
||
| 1,225 | ||
| 106,920 6,763 4,092 2,635 |
||
| 6,727 2,613 1,212 115 262 127 1,716 |
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Little Acorns Our Lady Preschool
Detailed Statement of Financial Activities for the Year Ended 31 August 2024
Charitable activities Brought forward Software Travel Cleaning Meals Repairs & Renewal Services Training Supplies / Purchases Licenses Uniform charity Other Bravo Income towards Wage cost Social security Trips Support costs Finance Bank charges Governance costs Accountancy and legal fees Total resources expended Net income |
31.8.24 £ 2,102 2,289 625 384 2,902 - - 978 3,775 201 413 - 13,669 78,296 3,528 1,180 83,004 195 2,614 108,549 20,916 |
31.8.23 £ 1,716 2,065 - 316 2,810 275 100 1,272 1,041 182 96 2 |
|---|---|---|
| 9,875 58,442 5,604 1,695 |
||
| 65,741 176 2,516 |
||
| 94,411 | ||
| 12,509 |
This page does not form part of the statutory financial
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