Company Registration Number - 06622131 The Charity Registration Number is :- 1133641
Watlington Pre-school
## Report and Accounts
31 August 2021
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## **Watlington Pre-school**
## **Report and accounts for the year ended 31 August 2021**
## **Contents**
||**Page**||
|---|---|---|
|**Charity information**||1|
|**Trustees' Annual Report**||1|
|**Statement of directors' responsibilities**||9|
|**Independent Accountant's Report**||10|
|**_Funds Statements:-_**|||
|Statement of Financial Activities||12|
|Statement of Financial Activities - Prior Year statement||13|
|Statement of total recognised gains and losses||13|
|Movements in funds||14|
|Revaluation reserves||14|
|Revenue Funds||15|
|Fixed Asset funds||15|
|Income and Expenditure account||16|
|Summary of funds||16|
|**Balance sheet**||17|
|**Cash flow statement**||18|
|**Notes to the accounts**||19|
## **Watlington Pre-school**
Company Registration Number - 06622131
## **Trustees' Annual Report for the year ended 31 August 2021**
The Trustees present their Report and Accounts for the year ended 31 August 2021, which also comprises the Directors' Report required by the Companies Act 2006.
## **Reference and administrative details**
## _**The charity name.**_
The legal name of the charity is:- Watlington Pre-school.
The charity is also known by its operating name, Watlington Pre-School Limited.
## _**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.
The charity does not operate in any overseas jurisdictions.
## _**Legal structure of the charity**_
The charity is constituted as a company limited by guarantee, registered under the Companies Acts . 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
There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
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.
1
## **Watlington Pre-school**
Company Registration Number - 06622131
## **Trustees' Annual Report for the year ended 31 August 2021**
## **The principal operating address, telephone number, email and web addresses of the charity are:-**
Rectory Lane Watlington, Kings Lynn Norfolk, PE33 0HU Telephone 01553 811035
The registered office of the charity for Companies Act purposes is:-
## DBA
The Union Building, 51-59 Rose Lane Norwich, NR1 1BY
## **The Trustees in office on the date the report was approved were:-**
Victoria Jane Wilkins Tracey Joanne Taylor Sarah Jo Oakley
## **The following persons served as Trustees during the year ended 31 August 2021 :-**
The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.
## **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 public interest in and recognition of such needs in local areas;
2
## **Watlington Pre-school**
Company Registration Number - 06622131
## **Trustees' Annual Report for the year ended 31 August 2021**
## _**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 regsiter of children. During the year to 31 August 2021 the preschool has continued to offer places for families that qualify for under 3 funding. In addition offering places to children both through access to funding and fee paying families.
Through Senco funding the preschool continues to offer additional assistance to children and families with special needs.
Finally, the Trustees have initiated a number of fund raising activities to provide the preschool with additional 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 2021 the preschool has continued to offer places for families that qualify for under 3 funding in addition to offering places to children both through access to funding and fee paying families.
Through Senco funding the preschool continues to offer additional assistance to children and families with special needs.
Finally, the Trustees have initiated a number of fund raising activities to provide the preschool with addtional resources.
## _**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 in offering support to both children and parents as required not only as part of the preschool learning alliance.
3
## **Watlington Pre-school**
Company Registration Number - 06622131
## **Trustees' Annual Report for the year ended 31 August 2021**
## **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 involvement with the children attending the PreSchool.
Bankers NatWest Accountants DB Accounting & Software Solutions Limited Bookkeepers MLJ Bookkeeping **Financial review**
## _**The charity's financial position at the end of the year ended 31 August 2021**_
The financial position of the charity at 31 August 2021 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
|Restricted Revenue Funds
**Total Funds**
Unrestricted Revenue Funds available for the
general purposes of the charity
**Net income**|**2021**
**£**
1,854
46,498
23,359
69,857|**2020**
**£**
12,524
46,217
21,786
68,003|
|---|---|---|
## _**Financial review of the position at the reporting date, 31 August 2021 .**_
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.
4
## **Watlington Pre-school**
Company Registration Number - 06622131
## **Trustees' Annual Report for the year ended 31 August 2021**
## _**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.
## **Details of The Independent Examiner**
Dan Bullock FMAAT
Member of Accountants
DBA, The Union Building 51-59 Rose Lane
Norwich
Norfolk NR1 1BY
## **Statement of the Directors Trustees' 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 October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
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.
5
## **Watlington Pre-school**
Company Registration Number - 06622131
## **Trustees' Annual Report for the year ended 31 August 2021**
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.
## **Method of preparation of accounts - Small company provisions**
The financial statements are set out on pages 12 to 20.
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 October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), and in accordance with the Financial Reporting Standard 102, 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 5 May 2022.
Tracey Joanne Taylor Director and Trustee
6
## **Watlington Pre-school**
## **Report of the Independent Examiner to the Trustees of the charitable company on the accounts for the year ended 31 August 2021**
I report to the Trustees on my examination of the financial statements of the charitable company on pages 12 to 20 for the year ended 31 August 2021 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 October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 19.
## **Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report**
As described on page 9, you, 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 the Companies Act 2006, the Charities Act 2011 and all other applicable law and with 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 Companies Act 2006. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-
a) examine the financial statements of the charity under Section 145 of the Act;
b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Basis of Independent Examiner's Statement and scope of work undertaken**
I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable 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, as Trustees, 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, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.
The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide
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.
7
## **Watlington Pre-school**
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.
## **Independent Examiner's Statement, Report and Opinion**
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and 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 Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
and 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 charity as required by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011;
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 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;
have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).
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 financial statements to be reached.
## **Signed:-**
Dan Bullock FMAAT - Independent Examiner
Accountants
DBA, The Union Building 51-59 Rose Lane Norwich Norfolk NR1 1BY
This report was signed on 5 May 2022
8
## **Watlington Pre-school - Statement of Financial Activities for the year ended 31 August 2021**
## _**Statement of Financial Activities (including the Income and Expenditure Account for the year ended 31 August 2021, as required by the Companies Act 2006)**_
|**Current year**
**Unrestricted**
**Funds**
**2021**
**£**
**Income & Endowments from:**
Donations & Legacies
A1
19,009
Charitable activities
A2
91,780
Investments
A4
2
**Total income**
**A**
**110,791**
**Expenditure on:**
Raising funds
B1
808
Charitable activities
B2
109,702
**Total expenditure**
**B**
**110,510**
**Net income for the year**
**281**
**Net income after transfers**
**A-B-C**
**281**
**281**
**Reconciliation of funds:-**
**E**
**Total funds brought forward**
46,217
**Total funds carried forward**
**46,498**
**SORP**
**Ref**
**Net movement in funds**|**Current year**
**Restricted**
**Funds**
**2021**
**£**
1,573
-
-
**1,573**
-
-
**-**
**1,573**
**1,573**
**1,573**
21,786
**23,359**|**Current year**
**Total Funds**
**2021**
**£**
**20,582**
**91,780**
**2**
**112,364**
**808**
**109,702**
**110,510**
**1,854**
**1,854**
**1,854**
**68,003**
**69,857**|**Prior Year**
**Total Funds**
**2020**
**£**
19,887
89,619
75
**109,581**
424
96,633
**97,057**
**12,524**
**12,524**
**12,524**
55,479
**68,003**|
|---|---|---|---|
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 the prior year transactions were unrestricted items, and no further analysis is required
All activities derive from continuing operations
## **The notes attached on pages 19 to 20 form an integral part of these accounts.**
9
## **Watlington Pre-school - Statement of Financial Activities for the year ended 31 August 2021**
|**Income & Endowments from:**
Donations & Legacies
A1
Charitable activities
A2
Other trading activities
A3
Investments
A4
Other
A5
**Total income**
**A**
**Expenditure on:**
Raising funds
B1
Charitable activities
B2
Other
B3
Tax on surplus on ordinary activiti
B3
Other taxation
B3
**Total expenditure**
**B**
B4
**Net income for the year**
**Transfers between funds**
**C**
**Net income after transfers**
**Reconciliation of funds:-**
**E**
**Total funds brought forward**
**Total funds carried forward**
**Net movement in funds**
**SORP**
**Ref**
Net gains on investments|**Prior Year**
**Unrestricted**
**Funds**
**2020**
**£**
19,887
89,619
-
75
-
109,581
424
96,633
-
-
-
**97,057**
-
12,524
-
12,524
**12,524**
34,902
**47,426**
|**Prior Year**
**Restricted**
**Funds**
**2020**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
**-**
-
-
-
-
**-**
20,577
**20,577**|**Prior Year**
**Total Funds**
**2020**
**£**
**19,887**
**89,619**
**-**
**75**
**-**
**109,581**
**424**
**96,633**
**-**
**-**
**-**
**97,057**
-
12,524
**-**
12,524
**12,524**
**55,479**
**68,003**|
|---|---|---|---|
## **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 19 to 20 form an integral part of these accounts.**
10
## **Watlington Pre-school - Statement of Financial Activities for the year ended 31 August 2021**
|**Watlington Pre-school - Resources applied in the year ended 31 August 2021**|**Watlington Pre-school - Resources applied in the year ended 31 August 2021**|**towards fixed**|
|---|---|---|
||**2021**|**2020**|
||**£**|**£**|
|Funds generated in the year as detailed in the SOFA|1,854|12,524|
|Resources applied on functional fixed assets|(5,977)|-|
|Other applications of funds|-|-|
|**Net resources available to fund charitable activities**|**(4,123)**|**12,524**|
The resources applied on fixed assets for charity use represents the cost of additions less proceeds of any disposals.
## **The notes attached on pages 19 to 20 form an integral part of these accounts.**
11
## **Watlington Pre-school - Statement of Financial Activities for the year ended 31 August 2021**
## **Movements in revenue and capital funds for the year ended 31 August 2021**
## **Revenue accumulated funds**
|**Unrestricted**
**Funds**
**2021**
**£**
Accumulated funds brought forward
46,217
281
**46,498**
**Closing revenue funds**
**46,498**
**Summary of funds**
**Unrestricted**
**and**
**Designated funds**
**2021**
**£**
Revenue accumulated funds
46,498
Recognised gains and losses before
transfers|**Restricted**
**Funds**
**2021**
**£**
21,786
1,573
**23,359**
**23,359**
**Restricted**
**Funds**
**2021**
**£**
23,359|**Total**
**Funds**
**2021**
**£**
68,003
1,854
**69,857**
**69,857**
**Total**
**Funds**
**2021**
**£**
**69,857**|**Last year**
**Total Funds**
**2020**
**£**
**55,479**
12,524
**68,003**
**68,003**
**Last Year**
**Total Funds**
**2020**
**£**
68,003|
|---|---|---|---|
**The notes attached on pages 19 to 20 form an integral part of these accounts.**
12
## **Watlington Pre-school - Statement of Financial Activities for the year ended 31 August 2021**
## **Watlington Pre-school**
## **Income and Expenditure Account for the year ended 31 August 2021 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
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|**2021**
**£**
112,362
2
**112,364**
**112,364**
107,099
2,603
808
-
**110,510**
**1,854**
-
**1,854**
**1,854**|**2020**
**£**
109,506
75
**109,581**
**109,581**
95,270
1,363
424
-
**97,057**
**12,524**
-
**12,524**
**12,524**|
|---|---|---|
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 19 to 20 form an integral part of these accounts.**
13
## **Watlington Pre-school - Balance Sheet as at 31 August 2021**
|||**SORP**|||||
|---|---|---|---|---|---|---|
||Note|**Ref**||**2021**||**2020**|
|||||**£**||**£**|
|**Fixed assets**||A|||||
|Tangible assets|10|A2||44,292||40,919|
|**Current assets**||B|||||
|Debtors|12|B2|915||1,634||
|Cash at bank and in hand||B4|26,178||27,244||
|**Total current assets**|||27,093||28,878||
|**Creditors: amounts falling due within**|||||||
|**one year**|13|C1|(1,528)||(1,794)||
|**Net current assets**||||25,565||27,084|
|**The total net assets of the charity**||||**69,857**||**68,003**|
|**The total net assets of the charity are**|**funded**|**by the**|**funds of the**|**charity, as follows:-**|||
|**Restricted funds**|||||||
|Restricted Revenue Funds|16|D2|23,359||21,786||
|**Unrestricted Funds**||||23,359||21,786|
|Unrestricted Revenue Funds|16|D3|46,498||46,217||
|**Designated Funds**||||46,498||46,217|
|**Total charity funds**||||**69,857**||**68,003**|
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 11.
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.
14
## **Watlington Pre-school - Balance Sheet as at 31 August 2021**
## **Tracey Joanne Taylor**
Trustee Approved by the board of trustees on 5 May 2022
**The notes attached on pages 19 to 20 form an integral part of these accounts.**
15
## **Watlington Pre-school**
## **Cash Flow Statement for the year ended 31 August 2021**
|**Cash flows from operating activities**
**A**
**_Cash flows from investing activities_**
Interest received
Purchase of property, plant and equipment
**Net cash provided by investing activities**
**B**
**_Cash flows from financing activities_**
Net cash provided by operating activities as shown below|**2021**
**£**
4,908
2
(5,977)
**(5,975)**|**2020**
**£**
13,812
75
-
**75**|
|---|---|---|
||||
|**Net cash provided by financing activities**
**C**
**Overall cash provided by all activities**
**Cash movements**
Change in cash and cash equivalents from activities in
the year ended 31 August 2021
Cash and cash equivalents at 1 September 2020
Change in cash and cash equivalents due to exchange rate movements
**A+B+C**
**Cash at bank and in hand less overdrafts at 31 August**|**-**
**(1,066)**
(1,066)
27,244
-
**26,178**|**-**
**13,887**
13,887
-
-
**13,887**|
16
## **Watlington Pre-school**
## **Cash Flow Statement for the year ended 31 August 2021 Watlington Pre-school**
## **Cash Flow Statement for the year ended 31 August 2021 - Continued**
## **Reconciliation of net income to net cash flow from operating activities**
|Net income as shown in the Statement of Financial Activities
**_Adjustments for :-_**
Depreciation charges
Write downs of investments
Net unrealised losses on investment assets
Dividends, interest and rents from investments
Decrease in debtors
Increase in creditors, excluding loans
**Net cash provided by operating activities**
**A**
**Analysis of cash and cash equivalents**
Cash in hand at for the year ended 31 August 2021
Notice deposits - (less than 3 months)
**Total cash and cash equivalents**|1,854
2,603
-
-
(2)
719
(266)
**4,908**
**2021**
**£**
26,178
-
**26,178**|12,524
1,363
-
-
(75)
-
-
**13,812**
**2020**
**£**
27,244
-
**27,244**|
|---|---|---|
17
## **Watlington Pre-school**
## **Cash Flow Statement for the year ended 31 August 2021**
## **Watlington Pre-school**
## **Cash Flow Statement for the year ended 31 August 2021 - Continued**
|Cash
**Total**
**Analysis of change in net debt**|**_At start_**
**_of year_**
27,244
27,244|**_Cash_**
**_Flows and_**
(1,066)
(1,066)
(1,066)|**_At end_**
**_of year_**
26,178
(1,066)
(1,066)|
|---|---|---|---|
18
## **Watlington Pre-school**
## **Notes to the Accounts for the year ended 31 August 2021**
## **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 October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , 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 October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), 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.
## **Risks and future assumptions**
The charity is a public benefit entity.
## _**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 Note6.
19
## **Watlington Pre-school**
## **Notes to the Accounts for the year ended 31 August 2021**
## _**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 over their estimated useful lives.
Freehold premises 2 % reducing balance basis Plant and machinery 20 % reducing balance basis
A regular annual review of the likelihood of asset impairment is undertaken.
## **Debtors**
Debtors are measured at their recoverable amounts at the balance sheet date.
## **Creditors and provisions**
Creditors are measured at their payable amounts at the balance sheet date.
## **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.
## **Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal or as implied by law.
There are no endowment funds.
## **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.
## **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.
20
## **Watlington Pre-school**
## **Notes to the Accounts for the year ended 31 August 2021**
## **4 Significance of financial instruments to the charity's position**
There are no financial instruments that have an significant impact to the charity's position.
## **5 Net surplus before tax in the financial year**
|**Net surplus before tax in the financial year**|||
|---|---|---|
||**2021**|**2020**|
||**£**|**£**|
|The net surplus before tax in the financial year is stated after charging:-|||
|Depreciation of owned fixed assets|2,603|1,363|
|Pension costs|3,006|-|
## **6 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.
## **7 Staff costs and emoluments**
|**_Salary costs_**
**2021**
**£**
Gross Salaries excluding trustees and key management personnel
79,789
Employer's operating costs of defined
contribution pension schemes
3,006
**Total salaries, wages and related costs**
**82,795**
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|**2020**
**£**
95,270
-
**95,270**
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.
21
## **Watlington Pre-school**
## **Notes to the Accounts for the year ended 31 August 2021**
## **8 Defined contribution pension schemes**
The charity 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.
## **9 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.
## **10 Tangible fixed assets**
|**_Current Year_**
**Cost**
At 1 September 2020
Additions
**At 31 August 2021**
**Depreciation**
At 1 September 2020
Charge for the year
**At 31 August 2021**
**Net book value**
**At 31 August 2021**
**At 31 August 2020**
**12 Debtors**
Trade debtors
Prepayments and accrued income|**Land and**
**Buildings**
£
43,635
-
**43,635**
5,991
753
**6,744**
**36,891**
**37,644**|**Plant &**
**Machinery**
£
10,356
5,977
**16,333**
7,081
1,850
**8,931**
**7,402**
**3,275**|**Equipment,**
**fixture &**
**fittings**
£
-
-
**-**
-
-
**-**
**-**
**-**
**2021**
**£**
715
200
**915**|**Total**
£
53,991
5,977
**59,968**
13,072
2,603
**15,675**
**44,293**
**40,919**
**2020**
**£**
715
919
**1,634**|
|---|---|---|---|---|
22
## **Watlington Pre-school**
## **Notes to the Accounts for the year ended 31 August 2021**
|**13 Creditors: amounts falling due within one year**
Trade creditors
Accruals
PAYE, NIC VAT and other taxes
**14 Income and Expenditure account summary**
**At 1 September 2020**
Surplus after tax for the year
**At 31 August 2021**|**2021**
**£**
(128)
915
741
**1,528**
**2021**
**£**
68,003
1,854
**69,857**|**2020**
**£**
185
899
710
**1,794**
**2020**
**£**
55,479
12,524
**68,003**|
|---|---|---|
## **15 Particulars of how particular funds are represented by assets and liabilities**
|**At 31 August 2021**
Tangible Fixed Assets
Current Assets
Current Liabilities
**At 1 September 2020**
Tangible Fixed Assets
Current Assets
Current Liabilities|**Unrestricted**
**funds**
**£**
44,293
3,734
(1,528)
**46,499**
**Unrestricted**
**funds**
**£**
40,919
7,092
(1,794)
**46,217**|**Designated**
**funds**
**£**
-
-
**-**
**Designated**
**funds**
**£**
-
-
-
**-**|**Restricted**
**funds**
**£**
-
23,359
-
**23,359**
**Restricted**
**funds**
**£**
-
21,786
-
**21,786**|**Total**
**Funds**
**£**
**44,293**
**27,093**
**(1,528)**
**69,858**
**Total**
**Funds**
**£**
**40,919**
**28,878**
**(1,794)**
**68,003**|
|---|---|---|---|---|
23
## **Watlington Pre-school**
## **Notes to the Accounts for the year ended 31 August 2021**
## **16 Change in total funds over the year as shown in Note 15 , analysed by individual funds**
|**Funds**
**brought**
**forward from**
**2020**
**£**
**_Unrestricted and designated funds:-_**
Unrestricted Revenue Funds
46,217
**Total unrestricted and designated funds**
**46,217**
**_Restricted funds:-_**
21,786
**Total restricted funds**
**21,786**
**Total charity funds**
**68,003**
**17 Analysis of movements in funds over the year as shown in Note**
**Income**
**2021**
**£**
**_Unrestricted and designated funds:-_**
Unrestricted Revenue Funds
110,791
**_Restricted funds:-_**
Mobile funds
1,573
**112,364**
Mobile funds|**Movement in**
**funds in 2021**
**See Note 17**
**£**
281
**281**
1,573
**1,573**
**1,854**
**16**
**Expenditure**
**2021**
**£**
(110,510)
-
**(110,510)**|**See Note 0**
**£**
**-**
**-**
-
**-**
**-**
**Other**
**Gains &**
**Losses**
**2021**
**£**
-
-
**-**
**Transfers**
**between**
**funds in 2021**|**Funds**
**carried**
**forward to**
**2022**
**£**
**46,498**
**46,498**
23,359
**23,359**
**69,857**
**Movement**
**in funds**
**2021**
**£**
**281**
**1,573**
**1,854**|
|---|---|---|---|
24
## **Watlington Pre-school**
## **Notes to the Accounts for the year ended 31 August 2021**
## **18 The purposes for which the funds**
## _**Unrestricted and designated funds:-**_
Unrestricted Revenue Funds
These funds are held for meeting the objectives of the charity provide reserves for future activities, and, subject to charity le are free from all restrictions on their use.
_**Restricted funds:-**_
Funds relating to the purchase and maintenance of the pre-sc Mobile funds building.
## **19 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 if the company in the event of it being wound up while he or she is a member, or within one year after he or she ceases to be a member.
25
## **Watlington Pre-school**
## **Detailed analysis of income and expenditure for the year ended 31 August 2021 as required by the SORP 2015**
## _**This analysis is classsified by conventional nominal descriptions and not by activity.**_
## **20 Donations, Grants and Legacies**
|**Donations and gifts from individuals**
**Total public sector revenue grants**
**Total donations and gifts from**
**individuals**
**Revenue grants from government and**
**public bodies**
Small donations individually less than
£1000
Small grants individually less than £1000|**Current year**
**Unrestricted**
**Funds**
**2021**
**£**
19,009
**19,009**
**Current year**
**Unrestricted**
**Funds**
**2021**
**£**
-
**-**|**Current year**
**Restricted**
**Funds**
**2021**
**£**
573
**573**
**Current year**
**Restricted**
**Funds**
**2021**
**£**
1,000
**1,000**|**Current year**
**Total Funds**
**2021**
**£**
**19,582**
**19,582**
**Current year**
**Total Funds**
**2021**
**£**
**1,000**
**1,000**|**Prior Year**
**Total Funds**
**2020**
**£**
19,887
**19,887**
**Prior Year**
**Total Funds**
**2020**
**£**
-
**-**|
|---|---|---|---|---|
26
## **Watlington Pre-school**
## **Detailed analysis of income and expenditure for the year ended 31 August 2021 as required by the SORP 2015**
**----- Start of picture text -----**
Total Donations, Grants and Legacies
Total Donations, Grants and
A1 19,009 1,573 20,582 19,887
Legacies
21 Income from charitable activities - Trading Activities
Current year Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total funds
Funds Funds
2021 2021 2021 2020
£ £ £ £
Primary purpose and ancillary trading
Sale of goods and services in accordance -
91,780 91,780 89,619
with the charity's objects
Total Primary purpose and ancillary -
91,780 91,780 89,619
trading
22 Total Income from charitable activities
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds
Total Funds
Current year Funds Funds
2021 2021 2021 2020
£ £ £ £
-
Total income from charitable trading 91,780 91,780 89,619
Total from charitable activities A2 91,780 - 91,780 89,619
23 Investment income
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Funds Funds
2021 2021 2021 2020
£ £ £ £
Bank Interest Receivable 2 - 2 75
Total investment income A4 2 - 2 75
**----- End of picture text -----**
27
## **Watlington Pre-school**
## **Detailed analysis of income and expenditure for the year ended 31 August 2021 as required by the SORP 2015**
## **24 Expenditure on charitable activities - Direct spending**
|**_Current Year_**
**Total direct spending**
**B2a**
Defined contribution pension costs -
charitable activities
Cost of sales
Gross wages and salaries - charitable
activities|**Current year**
**Unrestricted**
**Funds**
**2021**
**£**
79,789
3,006
6,013
**88,808**|**Current year**
**Restricted**
**Funds**
**2021**
**£**
-
-
-
**-**|**Current year**
**Total Funds**
**2021**
**£**
**79,789**
**3,006**
**6,013**
**88,808**|**Prior Year**
**Total Funds**
**2020**
**£**
**95,270**
**-**
**-**
**95,270**|
|---|---|---|---|---|
## **25 Support costs for charitable activities**
||**Current year**|**Current year**|**Current year**|**Current**|**year**|**Prior Year**|
|---|---|---|---|---|---|---|
||**Unrestricted**||**Restricted**|**Total Funds**||**Total Funds**|
|**_Current Year_**|**Funds**||**Funds**||||
||**2021**||**2021**|**2021**||**2020**|
||**£**||**£**|**£**||**£**|
|**_Employee costs not included in direct costs_**|||||||
|Training and welfare - staff||141|-||**141**|**-**|
|Uniform||936|-||**936**|**-**|
|**_Premises Expenses_**|||||||
|Rates and water charges||594|-||**594**|**-**|
|Room Hire||45|-||**45**|**-**|
|Light heat and power|1,803||-|**1,803**||**-**|
|Cleaning and waste management|1,746||-|**1,746**||**-**|
|Premises repairs, renewals and
maintenance||344|-||**344**|**-**|
|Other Premises Costs||835|-||**835**|**-**|
|**_Administrative overheads_**|||||||
|Telephone, fax and internet||662|-||**662**|**-**|
|Stationery and printing|1,544||-|**1,544**||**-**|
|Membership subscriptions||339|-||**339**|**-**|
|Equipment expenses||70|-||**70**|**-**|
|Software licences and expenses||480|-||**480**|**-**|
|Health and safety costs||23|-||**23**|**-**|
|Liabilty and contents insurance|1,140||-|**1,140**||**-**|
|Sundry expenses||105|-||**105**|**-**|
|Equipment,repairs,expenses and
maintenance|5,466||-|**5,466**||**-**|
28
## **Watlington Pre-school**
## **Detailed analysis of income and expenditure for the year ended 31 August 2021 as required by the SORP 2015**
|**_Professional fees paid to advisors other than the auditor or examiner_**
613
-
**613**
1,405
-
**1,405**
**_Financial costs_**
2,603
-
**2,603**
**Support costs before reallocation**
**20,894**
**-**
**20,894**
**Total support costs - Current Year**
**20,894**
**-**
**20,894**
The basis of allocation of costs between activities is described under accounting policies
Accountancy fees other than
examination or audit fees
Bookkeeping
Depreciation & Amortisation in total|**-**
**-**
**1,363**
**1,363**
**1,363**
**-**
**-**
**-**|
|---|---|
All the expenditure in the prior year was unrestricted.
The basis of allocation of costs between activities is described under accounting policies
## **26 Total Charitable expenditure**
|**_Current Year_**
Total direct spending
**B2a**
Total support costs
**B2d**
**Total charitable expenditure**
**B2**|**Current year**
**Unrestricted**
**Funds**
**2021**
**£**
88,808
20,894
**109,702**|**Current year**
**Restricted**
**Funds**
**2021**
**£**
-
-
**-**|**Current year**
**Total Funds**
**2021**
**£**
**88,808**
**20,894**
**109,702**|**Prior Year**
**Total Funds**
**2020**
**£**
**95,270**
**1,363**
**96,633**|
|---|---|---|---|---|
All the expenditure in the prior year was unrestricted.
|**_Prior Year_**
Total direct spending
**B2a**
Total support costs
**B2d**
**Total charitable expenditure**
**B2**|**Prior Year**
**Unrestricted**
**Funds**
**2020**
**£**
95,270
1,363
**96,633**|**Prior Year**
**Prior Year**
**Restricted**
**Funds**
**Total Funds**
**2020**
**2020**
**£**
**£**
-
**95,270**
-
**1,363**
**-**
**96,633**|
|---|---|---|
29
## **Watlington Pre-school**
## **Detailed analysis of income and expenditure for the year ended 31 August 2021 as required by the SORP 2015**
## **27 Expenditure on raising funds and costs of investment management**
|**_Current Year_**
Fundraising publicity & marketing
**Total fundraising costs**
**B1**
Costs of seeking donations,grants
and legacies|**Current year**
**Unrestricted**
**Funds**
**2021**
**£**
681
127
**808**|**Current year**
**Restricted**
**Funds**
**2021**
**£**
-
-
**-**|**Current year**
**Prior Year**
**Total Funds**
**Total Funds**
**2021**
**2020**
**£**
**£**
**681**
**424**
**127**
**-**
**808**
**424**|
|---|---|---|---|
All the expenditure in the prior year was unrestricted.
30
## **Watlington Pre-school**
## **Activity analysis of Income and expenditure for the for the year ended 31 August 2021**
## _**This analysis is classsified by activity and not by conventional nominal descriptions.**_
|**28 Analysis of income by activity**
**SOFA ref**
**_Summary of Total Income, including the items above_**
Charitable activities
**A2**
Donations & Legacies
**A1**
Investment income
**A4**
**Total income as shown in the SOFA**
**A**
**Income from charitable activities**
**Activity**|**2021**
**£**
91,780
91,780
20,582
2
**112,364**|**2020**
**-**
**89,619**
89,619
19,887
75
**109,581**|
|---|---|---|
31