Company Registration Number - 06622131
The Charity Registration Number is :- 1133641
Watlington Pre-school Limited
Report and Accounts
31 August 2020
Watlington Pre-school Limited
Report and accounts for the year ended 31 August 2020
Contents
| Page | ||
|---|---|---|
| Charity information | 1 | |
| Trustees' Annual Report | 1 | |
| Statement of directors' responsibilities | 6 | |
| Independent Accountant's Report | 8 | |
| Funds Statements:- | ||
| Statement of Financial Activities | 10 | |
| Statement of Financial Activities - Prior Year statement | 11 | |
| Movements in funds | 12 | |
| Revaluation reserves | 12 | |
| Revenue Funds | 12 | |
| Fixed Asset funds | 12 | |
| Summary of funds | 12 | |
| Income and Expenditure account | 13 | |
| Balance sheet | 14 | |
| Notes to the accounts | 16 |
Watlington Pre-school Limited
Company Registration Number - 06622131
Trustees' Annual Report for the year ended 31 August 2020
The Trustees present their Report and Accounts for the year ended 31 August 2020, which also comprises the Directors' Report required by the the Companies Act 2006.
Reference and administrative details
The charity name.
The legal name of the charity is:- Watlington Pre-school Limited
The charity is also known by its operating name, Watlington Pre-School
The charity's areas operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1133641
Legal structure of the charity
The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.
The Governing Document is dated 17 June 2008
By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.
The trustees are all individuals.
The principal operating address, telephone number, email and web addresses of the charity are:-
Rectory Lane Watlington, King's Lynn Norfolk, PE33 0HU Telephone 01553 811035 Email Address Web address
The registered office of the charity for Companies Act purposes is:-
Old Warden St Ann's Fort , King's Lynn Norfolk PE30 2EU
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Watlington Pre-school Limited
Company Registration Number - 06622131
Trustees' Annual Report for the year ended 31 August 2020
The Trustees in office on the date the report was approved were:-
Victora Jane Wilkins Tracey Joanne Taylor Sarah Jo Oakley
The following persons served as Trustees during the year ended 31 August 2020 :-
The trustees who served as a trustee in the reporting period, and, if applicable, their dates of appointment or resignation during the year were:-.
Name
Appointed
Resigned/Retired
Victora Jane Wilkins Tracey Joanne Taylor Sarah Jo Oakley
Objects and activities of the charity
The purposes of the charity as set out in its governing document.
Offering appropriate play, education and care facilities, together with the right of parents to take responsibility for and to become involved in the activities of such groups, ensuring opportunities are offered for all children whatever race, culturem religion, means or ability;
Encouraging the study of needs of such children and their families and promoting publinc interest in and recognition of such needs in local areas;
Instigating and adhering to and furthering the aims and objects of the Pre-School Learning Alliance.
In setting our objectives and planning our activities our trustees have given careful consideration to the Charity Commissions general guidance on public benefit,
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Watlington Pre-school Limited
Company Registration Number - 06622131
Trustees' Annual Report for the year ended 31 August 2020
The main activities undertaken in relation to those purposes during the year.
The main activities of the charity are the provision of preschool education and all day child care for 2-4 year olds. The charity operates from 8.30am to 3pm during school term time to provide all day care for working parents or sessional preschool education to meet Foundation Stage objectives
The main activities undertaken during the year to further the charity's purpose for the public benefit.
The pre-school maintains a full register of children. During the year to 31 August 2019 the preschool has continued to offer places for families that qualify for under 3 funding in addition offering places to childen both through access to funding and fee paying families.
Through Senco funding the preschol continues to offer additional assistance to children and families with
special needs.
Finally, the trustees have initiated a number of fund raising activies to provide the preschool with additonal resources
The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
The main achievements and performance of the charity during the year.
The pre-school maintains a full register of children. During the year to 31 August 2020 the preschool has continued to offer places for families that qualify for under 3 funding in addition offering places to childen both through access to funding and fee paying families.
Through Senco funding the preschol continues to offer additional assistance to children and families with
special needs.
Finally, the trustees have initiated a number of fund raising activies to provide the preschool with additonal resources
Additional suuport was given during the national lockdown to key workers etc.
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Watlington Pre-school Limited
Company Registration Number - 06622131
Trustees' Annual Report for the year ended 31 August 2020
The difference the charity's performance during the year has made to the beneficiaries of the charity.
The children that attend the preschool continue to receive the support and education they require under the early years learning.
The degree to which the achievements and performance during the year have benefited wider society.
The trustees are happy to report that the preschool is a important part of the village community offering support to both children and parents as required not only as part of the preschool learning alliance.
Structure, governance and management of the charity
The methods used to recruit and appoint new charity trustees.
New trustees are elected by the existing trustees.
All new trustees are selected through there involvment with the children attending the Pre-School.
Bankers NatWest Accountants MLJ Bookkeeping
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Watlington Pre-school Limited
Company Registration Number - 06622131
Trustees' Annual Report for the year ended 31 August 2020
Financial review
The charity's financial position at the end of the year ended 31 August 2020
The financial position of the charity at 31 August 2020 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
| Restricted Revenue Funds Total Funds Net income/(expenditure) Unrestricted Revenue Funds available for the general purposes of the charity |
2020 £ 12,524 46,217 21,786 68,003 |
2019 £ (1,757) 34,903 20,577 55,480 |
|---|---|---|
Financial review of the position at the reporting date, 31 August 2020 .
The trustees consider the financial performance by the charity during the year to have been satisfactory.
Specific changes in fixed assets are detailed in the notes to the accounts.
Policies on reserves.
The trustees are mindful that adequate reserves must be maintained to allow the Pre-School to remain open.
With this in mind they are maintaining adequate reserves to ensure that the mobile can be kept maintained and that the wages can be paid at all times
Availability and adequacy of assets of each of the funds
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund
5
Watlington Pre-school Limited
Company Registration Number - 06622131
Trustees' Annual Report for the year ended 31 August 2020
Statement of the Directors Trustees's Responsibilities
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) .
In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
-
to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
-
select suitable accounting policies and apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate
to presume that the charity will continue in business;
- state whether applicable accounting standards and statements of
recommended practice have been followed, subject to any material
departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
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Watlington Pre-school Limited
Company Registration Number - 06622131
Trustees' Annual Report for the year ended 31 August 2020
Method of preparation of accounts - Small company provisions
The financial statements are set out on pages 10 to 25.
The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)
These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
This report was approved by the board of trustees on 8 June 2021.
Tracey Joanne Taylor Director and Trustee
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Watlington Pre-school Limited
Report of the Independent Examiner to the Trustees of the charitable company on the accounts for the year ended 31 August 2020
I report on the financial statements of the charitable company on pages 10 to 25 for the year ended 31 August 2020 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) published by the Charity Commission in England & Wales (CCEW) , effective January 2015 (The SORP), under the historical cost convention and the accounting policies set out on page 16.
Respective responsibilities of the Trustees and the Independent Examiner
As described on page 6, the charitable company's Trustees, who are also the Directors of the Company for the purposes of Company law, are responsible for the preparation of the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice , applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.
The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the the Companies Act 2006. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the charity is not subject to audit under any legal provision, or otherwise, and is eligible for independent examination, it is my responsibility to:-
a) examine the accounts under Section 145 of the Act;
b) follow the procedures in the General Directions given by the Charity Commission under section 145(5)(b) of the Act and;
c) state whether particular matters have come to my attention.
Basis of Independent Examiner's Statement and scope of work undertaken
I conducted my examination in accordance with the General Directions given by the Charity Commission under section 145(5)(b) of the Act, setting out the duties of an Independent Examiner in relation to the conducting of an Independent Examination. An Independent Examination includes a review of the accounting records kept by the charitable company and of the accounting systems employed by the charitable company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, asTrustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that the financial statements comply with the SORP, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements.
The procedures undertaken do not provide all the evidence that would be required in an audit , and information supplied by theTrustees in the course of the examination is not subjected to audit tests or enquiries, and consequently I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
I planned and performed my examination so as to satisfy myself that the objectives of the Independent Examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.
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Watlington Pre-school Limited
Independent Examiner's Statement, Report and Opinion
Subject to the limitations upon the scope of my work as detailed above , in connection with my examination, I can confirm that :-
The accounts of this charitable company are not required to be audited under Part 16 of the Companies Act 2006;
This is a report in respect of an examination carried out under 145 of the Act and in accordance with General Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
and that no matter has come to my attention in connection with my examination which gives me reasonable cause to believe that in any material respect the requirements :-
to keep accounting records in accordance with Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011;
to prepare financial statements which accord with the accounting records and comply with the accounting requirements of Section 396 of the Companies Act 2006 and The Charities Act 2011 and;
have been prepared in accordance with the requirements of Section 396 of the Companies Act 2006 and and with the methods and principles set out in the FRS102 Statement of Recommended Practice - Accounting and Reporting by Charities (effective January 2016)
have not been met or to which, in my opinion, attention should be drawn in my report in order to enable a proper understanding of the accounts to be reached;
Stuart Bellamy - Independent Examiner
Chartered Tax Advisors
Old Warden St Ann's Fort King's Lynn Norfolk PE30 2EU
This report was signed on 8 June 2021
9
Watlington Pre-school Limited - Statement of Financial Activities for the year ended 31 August 2020
Statement of Financial Activities (including the Income and Expenditure Account for the year ended 31 August 2020, as required by the Companies Act 2006)
| Current year Unrestricted Funds 2020 £ Income & Endowments from: Donations & Legacies A1 18,054 Charitable activities A2 89,619 Investments A4 75 Total income A 107,748 Expenditure on: Raising funds B1 424 Charitable activities B2 96,009 Total expenditure B 96,433 Net income/(expenditure) for the year 11,315 Net income after transfers A-B-C 11,315 11,315 Reconciliation of funds:- E Total funds brought forward 34,903 Total funds carried forward 46,218 SORP Ref Net movement in funds |
Current year Restricted Funds 2020 £ 1,833 - - 1,833 - 624 624 1,209 1,209 1,209 20,577 21,786 |
Current year Total Funds 2020 £ 19,887 89,619 75 109,581 424 96,633 97,057 12,524 12,524 12,524 55,480 68,004 |
Prior Year Total Funds 2019 £ 4,337 105,279 1 109,617 258 111,116 111,374 (1,757) (1,757) (1,757) 57,237 55,480 |
|---|---|---|---|
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.
All activities derive from continuing operations
The notes attached on pages 16 to 25 form an integral part of these accounts.
10
Watlington Pre-school Limited - Statement of Financial Activities for the year ended 31 August 2020
Watlington Pre-school Limited - Analysis of prior year total funds, as required by paragraph 4.2 of the SORP
| Income & Endowments from: Donations & Legacies A1 Charitable activities A2 Investments A4 Total income A Expenditure on: Raising funds B1 Charitable activities B2 Total expenditure B B4 Net expenditure for the year Transfers between funds C Net income after transfers Other recognised gains/(losses) Reconciliation of funds:- E Total funds brought forward Total funds carried forward Net gains on investments SORP Ref Net movement in funds |
Prior Year Unrestricted Funds 2019 £ 4,726 99,483 2 104,211 868 107,307 108,175 - (3,964) - (3,964) - (3,964) 36,585 32,621 |
Prior Year Restricted Funds 2019 £ 1,182 - - 1,182 - 5,141 5,141 - (3,959) - (3,959) - (3,959) 20,652 16,693 |
Prior Year Total Funds 2019 £ 4,337 105,279 1 109,617 258 111,116 111,374 - (1,757) - (1,757) - (1,757) 57,237 55,480 |
|---|---|---|---|
All activities derive from continuing operations
A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.'
The notes attached on pages 16 to 25 form an integral part of these accounts.
11
Watlington Pre-school Limited - Statement of Financial Activities for the year ended 31 August 2020
Watlington Pre-school Limited - Resources applied in the year ended 31 August 2020 towards fixed assets for Charity use:-
| Funds generated in the year as detailed in the SOFA Net resources available to fund charitable activities |
2020 £ 12,524 12,524 |
2019 £ (1,757) (1,757) |
|---|---|---|
The resources applied on fixed assets for charity use represents the cost of additions less proceeds of any disposals.
The notes attached on pages 16 to 25 form an integral part of these accounts.
Movements in revenue and capital funds for the year ended 31 August 2020
Revenue accumulated funds
| Accumulated funds brought forward Closing revenue funds Revaluation Reserve Fund At 1 September At 31 August Summary of funds Revenue accumulated funds Recognised gains and losses before transfers |
Unrestricted Funds 2020 £ 34,903 11,315 46,218 46,218 Unrestricted Funds 2020 £ - - Unrestricted and Designated funds 2020 £ 46,218 |
Restricted Funds 2020 £ 20,577 1,209 21,786 21,786 Restricted Funds 2020 £ - - Restricted Funds 2020 £ 21,786 |
Total Funds 2020 £ 55,480 12,524 68,004 68,004 Total Funds 2020 £ - - Total Funds 2020 £ 68,004 |
Last year Total Funds 2019 £ 57,237 (1,757) 55,480 55,480 Last year Total Funds 2019 £ - - Last Year Total Funds 2019 £ 55,480 |
|---|---|---|---|---|
The notes attached on pages 16 to 25 form an integral part of these accounts.
12
Watlington Pre-school Limited - Statement of Financial Activities for the year ended 31 August 2020
Watlington Pre-school Limited
Income and Expenditure Account for the year ended 31 August 2020 as required by the Companies Act 2006
| Income Income from operations Interest receivable Gross income in the year before exceptional items Gross income in the year including exceptional items Expenditure Charitable expenditure, excluding depreciation and amortisation Depreciation and amortisation Fundraising costs Governance costs Realised losses on disposals of social investments which are programme related Total expenditure in the year Tax on surplus on ordinary activities Retained surplus for the financial year Net income after tax in the financial year Net income before tax in the financial year Investment income |
2020 £ 109,506 75 109,581 109,581 94,658 1,362 424 613 - 97,057 12,524 - 12,524 12,524 |
2019 £ 109,616 1 109,617 109,617 109,039 1,464 258 613 - 111,374 (1,757) - (1,757) (1,757) |
|---|---|---|
All activities derive from continuing operations
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
The notes attached on pages 16 to 25 form an integral part of these accounts.
13
Watlington Pre-school Limited - Balance Sheet as at 31 August 2020
| SORP | ||||||
|---|---|---|---|---|---|---|
| Note | Ref | 2020 | 2019 | |||
| £ | £ | |||||
| Fixed assets | A | |||||
| Tangible assets | 8 | A2 | 40,919 | 42,282 | ||
| Current assets | B | |||||
| Debtors | 9 | B2 | 1,634 | 2,809 | ||
| Cash at bank and in hand | B4 | 27,244 | 12,497 | |||
| Total current assets | 28,878 | 15,306 | ||||
| Creditors: amounts falling due within | ||||||
| one year | 10 | C1 | (1,794) | (2,108) | ||
| Net current assets | 27,084 | 13,198 | ||||
| The total net assets of the charity | 68,003 | 55,480 | ||||
| The total net assets of the charity are | funded | by the | funds of the | charity, as follows:- | ||
| Restricted funds | ||||||
| Restricted Revenue Funds | 13 | D2 | 21,786 | 20,577 | ||
| Unrestricted Funds | ||||||
| Unrestricted Revenue Funds | 13 | D3 | 46,217 | 34,903 | ||
| Designated Funds | ||||||
| Total charity funds | 68,003 | 55,480 |
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 9.
14
Watlington Pre-school Limited - Balance Sheet as at 31 August 2020
The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
Tracey Joanne Taylor Trustee Approved by the board of trustees on 8 June 2021
The notes attached on pages 16 to 25 form an integral part of these accounts.
15
Watlington Pre-school Limited
Notes to the Accounts for the year ended 31 August 2020
1 Accounting policies
Policies relating to the production of the accounts.
Basis of preparation and accounting convention
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) published by the Charity Commission in England & Wales (CCEW) ,effective January 2016, (The SORP), and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
Policies relating to expenditure on goods and services provided to the charity.
Recognition of liabilities and expenditure
A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated..
Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.
Volunteers
In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity. However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note5.
Policies relating to assets, liabilities and provisions and other matters.
Tangible fixed assets
Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.
Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value ove estimated useful lives.
Freehold premises 2 % straight line Plant and machinery 20 % straight line
16
Watlington Pre-school Limited
Notes to the Accounts for the year ended 31 August 2020
Debtors
Debtors are measured at their recoverable amounts at the balance sheet date.
Creditors and provisions
If this applies , enter suitable text to comply with SORP 10.81. Describe the basis on which creditors and provisions for liabilities and charges are recognised and measured
Financial instruments including cash and bank balances
Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.
Pensions - defined contribution schemes
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Liability to taxation
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.
3 Winding up or dissolution of the charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
4 Net surplus before tax in the financial year
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| The net surplus before tax in the financial year is stated after charging:- | ||
| Depreciation of owned fixed assets | 1,362 | 1,464 |
| Pension costs | 3,089 | 2,476 |
5 The contribution of volunteers
The charity depends on the support of its volunteers, which is much appreciated.
The arrangements with volunteers are difficult to value precisely in monetary terms and have not been recognised in the Statement of Financial Activities. The volunteers and the charity accept and agree that no contract of employment is created by these arrangements.
17
Watlington Pre-school Limited
Notes to the Accounts for the year ended 31 August 2020
6 Staff costs and emoluments
| Salary costs 2020 £ Gross Salaries excluding trustees and key management personnel 72,925 3,089 Trustees' Remuneration as detailed in note 0 - Total salaries, wages and related costs 76,014 Numbers of full time employees or full time equivalents 2020 The average number of total staff employed in the year was 7 The average number of part time staff employed in the year was 3 The average number of full time staff employed in the year was 4 The estimated full time equivalent number of all staff employed in the year was 7 The estimated equivalent number of full time staff deployed in different activities in the year was:- Engaged on charitable activities 7 The estimated full time equivalent number of all staff employed as above 7 Employer's operating costs of defined contribution pension schemes |
2019 £ 88,842 2,476 - 91,318 2019 7 3 4 7 7 7 |
|---|---|
Neither the trustees nor any persons connected with them have received any remuneration from the charity or any related entity, either in the current or prior year.
No employees received emoluments (excluding pension costs) in excess of £60,000 per annum.
7 Remuneration and payments to Trustees and persons connected with them
No trustees or persons connected with them received any remuneration from the charity, or any related entity.
18
Watlington Pre-school Limited
Notes to the Accounts for the year ended 31 August 2020
8 Tangible fixed assets
| Cost At 1 September 2019 At 31 August 2020 Depreciation At 1 September 2019 Charge for the year At 31 August 2020 Net book value At 31 August 2020 At 31 August 2019 9 Debtors Trade debtors Prepayments and accrued income Other debtors 10 Creditors: amounts falling due within one year Trade creditors Accruals PAYE, NIC VAT and other taxes Other creditors 11 Income and Expenditure account summary At 1 September 2019 Surplus/(loss) after tax for the year At 31 August 2020 |
Land and Buildings £ 43,635 43,635 5,207 784 5,991 37,644 38,428 |
Plant & Machinery £ 10,356 10,356 6,502 579 7,081 3,275 3,854 |
Motor Vehicles £ - - - - - - - 2020 £ 715 919 - 1,634 2020 £ 185 899 710 - 1,794 2020 £ 55,480 12,524 68,004 |
Total £ 53,991 53,991 11,709 1,363 13,072 40,919 42,282 2019 £ 282 535 1,992 2,809 2019 £ 745 866 - 497 2,108 2019 £ 57,237 (1,757) 55,480 |
|---|---|---|---|---|
19
Watlington Pre-school Limited
Notes to the Accounts for the year ended 31 August 2020
12 Particulars of how particular funds are represented by assets and liabilities
| At 31 August 2020 Tangible Fixed Assets Investments at valuation:- Current Assets Current Liabilities At 1 September 2019 Tangible Fixed Assets Investments at valuation:- Current Assets Current Liabilities |
Unrestricted funds £ 40,919 7,092 (1,794) 46,217 Unrestricted funds £ 42,282 (5,271) (2,108) 34,903 |
Designated funds £ - - - - Designated funds £ - - - - |
Restricted funds £ - 21,786 - 21,786 Restricted funds £ - 20,577 - 20,577 |
Total Funds £ 40,919 28,878 (1,794) 68,003 Total Funds £ 42,282 15,306 (2,108) 55,480 |
|---|---|---|---|---|
13 Change in total funds over the year as shown in Note 12 , analysed by individual funds
| Unrestricted and designated funds:- Unrestricted Revenue Funds Total unrestricted and designated funds Restricted funds:- Mobile fund Total restricted funds Total charity funds |
£ 34,903 34,903 20,577 20,577 55,480 Funds brought forward from 2019 |
See Note 14 £ 11,315 11,315 1,284 1,284 12,599 Movement in funds in 2020 |
See Note 0 £ - - - - - Transfers between funds in 2020 |
£ 46,218 46,218 21,861 21,861 68,079 Funds carried forward to 2021 |
|---|---|---|---|---|
20
Watlington Pre-school Limited
Notes to the Accounts for the year ended 31 August 2020 14 Analysis of movements in funds over the year as shown in Note 13
| Unrestricted and designated funds:- Unrestricted Revenue Funds Restricted funds:- Mobile Fund |
Income 2020 £ 107,748 1,208 108,956 |
Expenditure 2020 £ (96,433) (84) (96,517) |
Other Gains & Losses 2020 £ - - - |
Movement in funds 2020 £ 11,315 1,124 12,439 |
|---|---|---|---|---|
15 The purposes for which the funds as detailed in note 13 are held by the charity are:-
Unrestricted and designated funds:-
Unrestricted Revenue Funds
These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use.
Restricted funds:-
Funds relating to the purchase and maintainence of the pre-school mobile Mobile fund building
16 Ultimate controlling party
The charity is under the control of its legal members.
Every member of the charity is obliged to contribute such amount as may be required not exceeding £10 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
21
Watlington Pre-school Limited
Detailed analysis of income and expenditure for the year ended 31 August 2020 as required by the SORP 2015
This analysis is classsified by conventional nominal descriptions and not by activity.
17 Donations and Legacies
| Current year Current year Unrestricted Funds Restricted Funds 2020 2020 £ £ Donations and gifts from individuals 7,554 1,833 7,554 1,833 Revenue grants from government and public bodies 500 - 10,000 - 10,500 - Total Donations and Legacies A1 18,054 1,833 Income from charitable activities - Trading Activities Current year Current year Unrestricted Funds Restricted Funds 2020 2020 £ £ Primary purpose and ancillary trading 89,487 - 132 - 89,619 - Total public sector revenue grants Government Covid 19 support payment Small donations individually less than £1000 Small grants individually less than £1000 Total donations and gifts from individuals Sale of goods and services in accordance with the charity's objects Ancillary trading in support of primary purpose trading Total Primary purpose and ancillary trading |
Current year Total Funds 2020 £ 9,387 9,387 500 10,000 10,500 19,887 Current year Total Funds 2020 £ 89,487 132 89,619 |
Prior Year Total Funds 2019 £ 4,337 4,337 - - - 4,337 Prior Year Total Funds 2019 £ 104,614 665 105,279 |
|---|---|---|
18 Income from charitable activities - Trading Activities
22
Watlington Pre-school Limited
Detailed analysis of income and expenditure for the year ended 31 August 2020 as required by the SORP 2015
19 Total Income from charitable activities
| Total income from charitable trading Total from charitable activities A2 Investment income Bank Interest Receivable Total investment income A4 |
Current year Unrestricted Funds £ 2020 89,619 89,619 Current year Unrestricted Funds 2020 £ 75 75 |
Current year Restricted Funds £ 2020 - - Current year Restricted Funds 2020 £ - - |
Current year Total Funds £ 2020 89,619 89,619 Current year Total Funds 2020 £ 75 75 |
Prior Year Total Funds £ 2019 105,279 105,279 Prior Year Total Funds 2019 £ 1 1 |
|---|---|---|---|---|
20 Investment income
21 Expenditure on charitable activities - Direct spending
| Total direct spending B2a Gross wages and salaries - charitable activities Travel and Subsistence - Charitable Activities Temporary Staff - Charitable Activities Defined contribution pension costs - charitable activities |
Current year Unrestricted Funds 2020 £ 72,925 3,089 - - 76,014 |
Current year Restricted Funds 2020 £ - - - - - |
Current year Total Funds 2020 £ 72,925 3,089 - - 76,014 |
Prior Year Total Funds 2019 £ 88,800 2,476 42 18 91,336 |
|---|---|---|---|---|
23
Watlington Pre-school Limited
Detailed analysis of income and expenditure for the year ended 31 August 2020 as required by the SORP 2015
| **22 ** | Expenditure on charitable activities - Charitable trading | Expenditure on charitable activities - Charitable trading | Expenditure on charitable activities - Charitable trading | Expenditure on charitable activities - Charitable trading | ||
|---|---|---|---|---|---|---|
| Current year | Current year | Current year | Prior Year | |||
| Unrestricted | Restricted Funds | Total Funds | Total Funds | |||
| Funds | ||||||
| 2020 | 2020 | 2020 | 2019 | |||
| £ | £ | £ | £ | |||
| Cost of goods for primary purpose trading | 5,266 | - | 5,266 | 5,662 | ||
| Reallocated from support costs | 12,587 | 918 | 13,505 | 21,150 | ||
| Total charitable trading costs | B2b | 17,853 | 918 | 18,771 | 26,812 | |
| 23 | Support costs for charitable activities | |||||
| Current year Unrestricted Funds 2020 £ Employee costs not included in direct costs |
Current year Restricted Funds 2020 £ |
Current year Total Funds 2020 £ |
Prior Year Total Funds 2019 £ |
|||
| Training and welfare - staff | 382 | - | 382 | 1,214 | ||
| Premises Expenses | ||||||
| Rates and water charges | 374 | - | 374 | 309 | ||
| Room Hire | 91 | - | 91 | 258 | ||
| Light heat and power | 2,026 | - | 2,026 | 1,481 | ||
| Cleaning and waste management Premises repairs, renewals and maintenance |
1,825 1,156 |
- 84 |
1,825 1,240 |
1,554 1,275 |
||
| Administrative overheads | ||||||
| Telephone, fax and internet | 811 | - | 811 | 1,355 | ||
| Postage | - | - | - | 21 | ||
| Stationery and printing | 1,367 | - | 1,367 | 1,772 | ||
| Membership subscriptions | 70 | - | 70 | 344 | ||
| Hire of equipment | 155 | - | 155 | - | ||
| Software licences and expenses | 904 | - | 904 | 660 | ||
| Advertising and marketing | - | - | - | 30 | ||
| Liabilty and contents insurance | 1,918 | - | 1,918 | 700 | ||
| Sundry expenses | 1,040 | - | 1,040 | 8 | ||
| Professional fees paid to advisors | other than the auditor | or examiner | ||||
| Accountancy fees other than examination or audit fees |
1,155 | - | 1,155 | 1,020 | ||
| Legal fees | 20 | - | 20 | 40 | ||
| Financial costs Depreciation & Amortisation in total for the period |
822 | 540 | 1,362 | 1,464 | ||
| Support costs before reallocation | 14,116 | 624 | 14,740 | 13,505 |
24
Watlington Pre-school Limited
Detailed analysis of income and expenditure for the year ended 31 August 2020 as required by the SORP 2015
Less support costs reallocated to specific activities
| To charitable trading costs Total support costs |
(12,587) 1,529 |
(918) (294) |
(13,505) 1,235 |
(21,150) (7,645) |
|---|---|---|---|---|
The basis of allocation of costs between activities is described under accounting policies
24 Other Expenditure - Governance costs
| Current year Current year Unrestricted Funds Restricted Funds 2020 2020 £ £ Independent Examiner's fees 613 - Total Governance costs 613 - Total Charitable expenditure Current year Current year Unrestricted Funds Restricted Funds 2020 2020 £ £ Total direct spending B2a 76,014 - Total charitable trading costs B2b 17,853 918 Total support costs B2d 1,529 (294) Total Governance costs B2e 613 - Total charitable expenditure B2 96,009 624 Expenditure on raising funds and costs of investment management Current year Current year Unrestricted Funds Restricted Funds 2020 2020 £ £ Cost of fundraising activities 424 - Total fundraising costs B1 424 - |
Current year Total Funds 2020 £ 613 613 Current year Total Funds 2020 £ 76,014 18,771 1,235 613 96,633 Current year Total Funds 2020 £ 424 424 |
Prior Year Total Funds 2019 £ 613 613 Prior Year Total Funds 2019 £ 91,336 26,812 (7,645) 613 111,116 Prior Year Total Funds 2019 £ 258 258 |
|---|---|---|
25 Total Charitable expenditure
26 Expenditure on raising funds and costs of investment management
25