Charity Registration Number: 1135312 Company Reglstration Number: 07178036 ST MAWGAN PRE-SCHOOL LIMITED REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDING 31 AUGUST 2024 ST MAWGAN PRE-￿HOOL LIMITED Contents ofthe Finanaal Statements For the Year Ending 31 August 2024 Page Company Information Report of theTru5tees >5 Independent Examiners Rewt Statement of Fina￿la1 P£t1￿tieS Balance Sheet Notes to the Finanaal Ststements ST MAWGAN PRE-SCHOOL LIMITED COMPANY INFORMATION FOR THE YEAR ENDED 31 AUGUST 2024 Directors.. Mrs C Russell Mrs E Gibbs Mrs A Abell Mrs K E Millatt Mr A l Russell Mr5 G Aswith IAppointed Mar 20251 Mrs l Notschild IAppoinled Mar 20251 Mis B Scarr IAppointed Mar 2025 Registered Office.. Kew An Lergh Stret Myghtern Arthur Nansledan Cornwall TR84UX Company Registered Number-. 07178036 Registered Charity Number.. 1135312 Accountants.. Linggard and Thomas Ltd Kew an Lergh Stret Myghtern Arthur Nan51edan Newquay TR84UX ST MAWGAN PRE-SCHOOL LIMITED REPORTOF THE TRUSTEES FOR THE YEAR ENDING 31 AUGUST 2024 The Directors present their Teport with thè Financial 5tatement5 for the year ending 31 August 2024. STATUS AND ADMINISTRATION The Charity is a company limited by guarantee and a registered charity with the Chartty Commission. It was incorporated on 4 March 2010. The account5 comply with current statutory requirements and the chariWs governin8 document5, Memorandurn and Articles of Associatlon and the Statement of Recornmended Practice ISORP 2(K)51. AIM AND PURPOSE St Mawgan Pre-school Limited has the responsibility of runTring a pre-school for the benefit of the local community. OBJE￿rvEs AND A￿1VITIEs St Mawgan Prtrschool timited is cornmitted to enhance the developrnent aTrd education of children prirnarily under statutory School age by encouraging parents to understand and provide for the needs of their children through community group5 and by.. Offering appropriate play, education and care faalities, family learning and extended hours Broups, together with the right of parents to take responsibility for and to become involved in the activities of such groups, ensuring that such groups offèr opportunities for all children whatever their race, atlture, religion, means or ability. Encourage the study of the needs of such children and thèir farnilies and promoting public interest in and recognition of such needs in the local areas. Instigating and adhering to #nd furthering the airns and objects of the Pre-school Learning Alliance. STRucfuRE GOVERNANCE AND MANAGEMENT St Mawgan Pre-school Limited 1$ governed by its Tiustee Board which is responsible for setting the strategi¢ direction of the company and the poliLV of the charity. The Trustees carry the ultimate responsibility for the conduct of St Mawgan Pre School knmited and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet on a regular basis. The Trustees Idirectorsl durrng the period under review were.. Mrs K Backway16 lJctober 2020 to 26 February 20241 Mrs C Russell116 lune 2022 to pie5entl Mrs E Gibbs116 June 2022 to presenil Mrs AAbell112 lune 2023 to presentl Mrs K E Millatt112 June 2023 to piesentl Mf J Gibbs121 February 2024 to 27 September 20241 Mr l A Russell121 February 2024 to presentl Mrs G Aswith14 March 2025 to presentl Mrs L Notschild14 March 2025 to presentl Mrs B Scarr14 March 2025 to presentl ST MAWGAN PRE-KHOOL LIMITEO REPORTOF THE TRUSTEES FOR THE YEAR ENDING 31 AUGUST 2024 ICONTINUEDI The dirertors are appointed acc￿dIn@ to the Arkndes of A550ciation and are wefe￿ed to in that d￿Urnent as the Board of Trusteè5. REVIEW OF FINANaAL ACTIVITIES The finan¢ial re5vIts for the year are set out in the Ststernent of Finanthal Activities on page 7 and the position at the end of the year is shown in the Balance Sheet on page 8. St Mawgan Pre-school timited own computer equipment which are di5dosed as tsnglb￿ fixed assets in the financial statement5. The prtrsthool meet in the village Cornmunity Hall, where it has use of a large hall and associated facilities and pays a rent to the organiiation that operate the hall. The pre-xhool employed five members of stsff, all of whom have appyopriate eaTty years qualification5 at the accounting year end. Incoming resources in the period were £101,34L A surplus of £23.0￿ was made in the year. At 31 August 2024 totsl reserves were £41,090, all of which represented fund5 introduod by the mernbers on the incorporation of the p￿school on 4 March 2010. To assess the performance up to 31 August 2024, the followng SWOT ha5 been prepared:_ Strengths There are well qualified, highly motivated Staff. Good Otsted inspection in the past few years. Substantial unrestricted fijnds are held by company. Children numbers are limited duè to the premises. The p￿mISeS are not de%gned specifically to be used as a preschool. Varying levels of support and engagement from parents of enrolled children. Opportunr¢ies To raise the profile Of the pre school in order to attract more parents to support the pre school. Thr￿t5 Fundraising from all sources will be more difficult in the present economic climate. Reputation risks Ifor exarnple an accident involving injury to children or failure to meet servtce cornmitrnentsl. The opportsjnity to raise prices is constrained by what local parents will find affordable. Billsl Rent of building increasing The W￿school is an established Se￿￿ within the district. Reputation risks can be diminished by ensuring that constant training remains a high priority. ST MAWGAN PRE-SCHOOL LIMITED REPORTOF THE TRUSTEES FOR THE YEAR ENDING 31 AUGUST 2024 ICONTINUEDI RESERVES POLICY All funds at the moment are unrestricted to allow the pr&school to have sufficient funds at its disposal to meet the daily running expenses, as iTrcome is dependent on the nurnber of children in the region who will be attending the pr&school. Implementing a plan for raising funds for day lo day running of the pre-school is therefore a priority, but the long-telm aim is to obtsin funding bywhatever means are available for the companv to own its own prernises. DIRECTORS, RESPONSIBILITIES Company Law requires the trustees to prepare accounts for each financial yeai which give a true and fair wew of the Charitable companVs state of affairs at the end of the year and of its income and expenditure for that vèar. In preparing those accounts, the trustee5 are required to.. al select suitsble accounting poliaes and then apply thern con%stently- bl make judgrnents and estirnates that are reasonable and prudent,. cl state whether applicable accounting stsndards have been followed, subject to any material departures disclosed and explained in the financial statements,. and dl prepare the financial staternents on the goin8 concern basi5 unless it is iftappropriate to presume that the company will contiTrue in operation. Thetrustees are also responsible forkeeping proper accounting Tecords which disclose with reasonable accuracy at any tirne the financial position of the tharitable company and to enable them to ensure that the financial statements comply with the Companies Act 2(￿. They are also responsible for ensuring that the cornpanv rnaintains an adequate system of internal control designed to prowde reasonable assurance that assets are safeguarded against material loss or unauthorized use and to prevent and detect fraud and other irregularities. This report has been prepared in accordan￿ wth the special provisions of the Companies Art 2¢XJ6 applicable to companies subject to the small companies, regime and follows the recommendations in Accounting and Reporting by Charities IFRS 1021. Signed on behalf of the trustees Mrs K E Millatt Dated . INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES ON THE UNAUDITED ACCOUNTS OF ST MAWGAN PRE-SCHOOL LIMITED I report on the a¢¢ounts of the company for the year ended 31 August 2024 set out on pages 7 to 13. Respertlve responslbllltles of trustee5 and eM•miner The trustees Iwho are also the directors of the cornpany for the purposes of company lawl are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this period under section 144121 of the Charities Act 2011 (the 2011 Act) and that an independent exarnination is needed. Having satisfied myself that the charity 15 not subject to an audit under Part 16 of the Company Act 2C￿ and is eli8ible for an independent examination, it is my responsibility to.. exarnine the accounts under section 145 of the 2011 Act. to follow the procedures laid down in the General Directions given by the Charity Commission under section 145151 Ibl of the 2011 Act,. and to state whether particular matters have corne to rny attention. Basts of tndependent examinerf report My exarnination was caffied out in accordance with the General Directions given by the Charity Commissioners. An exarninatlon includes a revlew of the accounting records kept bythe charity and a comparison of the accounts presented with those records. It also include5 consideration of any unusual items or disclosures in the accounts. and the seeking of explanation5 frorn you trustees concerning any such matters. The procedures undertaken do not provide all the ewdence that would be required in an audil and, consequently, no opinion is given a5 to whether the attounts present a 'true and fair view. and the report is limited to those matters set out in the statement below. Independent wmlner< Statement In connertion with my exarnination, no matter has come to my attention which gives me reasonable cause to believe that, in any material respect, the requirèments.. al to keep accounting records in accordance with $386 of the Companies Act 2(h)6,' and bl to prepare accounts which accord with the attounting records, comply with the accounting requirements of the Cornpanie5 Act 2((J6 and with the methods and prinuples of the Statement of Recornmended Practice IFRS 1021 have not been met,. or to which, in rny opinion, attention should be drawn in order to enable a proper understanding of the accounts to be re¥hed. LLYqcvd i-thyv￿. Linggard and Thomas Kew An Lergh Stret Myghtern Arthur Nansledan TR84UX Date.. 1*1 oC1202 5T MAWGAN PRE-SCHOOL LIMITED STATEMENTOF FINANCIALACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024 Note5 Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 In¢¢mln8 Rekiurces Incoming re50uice5 from generated funds Voluntt7ryin¢ome Funding 74,612 55,563 55,563 Actiwtiesfor generatingfunds.. Investmentincome.. Interest Receivable 138 138 Incoming reSoU￿e5 from charltsble artivitles Fees re￿IVed and other income 26,591 26,591 24,143 Total Incomlni Rewurces 101,341 101,341 79,715 Rex*u￿e5 Expended Costs of 8eneratln8 frjnds Costs oJgenert7ting volunturyincome 9,3 Charttable actlvttle5 67,638 67,640 62,￿7 Governantecosts Total Resources Expended 1,243 78,261 1,243 78,261 1,118 70,113 Net Incoming I (c￿ti01n8) resources for theyèar Net movement in funds 23,080 9,582 23,080 23,080 9,582 Transfers between funds ReconclllatK>n of Fund$ Totsl funds broughtforward 11,0461 11,0461 110,6281 Totsl funds carried forward 22,034 22,034 11,0461 The statement of financ4al activitSe5 indudes all gains and 10s5es in the period. All incorning resource5 and re50uros expended derive from continuing acti￿tieS. These financial statement5 do not incorporate the significant value attributed to volunteerg hours and other intangible Incoming re50ur¢e5 that contributed to the activi￿eS of the organization. ST MAWGAN PRE-XHOOL LIMITED BALANCE SHEET AT 31 AUGUST 2024 Note5 2024 2023 FIXED ASSETS Tangib￿ Assets 191 271 CURRENT ASSET5 Stock 226 226 Debtor5 & prePa￿eTrts io 215 Cash at Bank and in hand 4L787 17,781 42,147 18,222 CURRENT UABIUTIES: An￿nts￿lI1 due wf(hin one year NET CURRENT AS5Ers li L2481 14831 40,899 17,739 NON CURRENT LIABILtTIES: An￿￿ts l&lling dueafteroneyear TOTAL AS5Ers 41,090 ,oio REPRESENTED BY Unrestrirted Fund Accumulated Funtl 41,0 18,010 De￿gnated Funds 41,0 18,010 41,1)90 18,010 The trustees are satisfied that the company is entitled to exemption frorn the requirement to obtain an audit under sertion 477 of the Companies Ad 2￿6 and that mernbers have not required the company to obtain an audit in actordance with section 476 of the The trustees athnow￿dget￿eir responsibilitiesfor ccrfnplyir¢ ¥￿th the requirements of the Cornpanies Art2(K with respett to accounting records and the preparation of the accounts. The accounts have been prepared in accordano with the prowsions in Part 15 of the Companies Act 2 applicable to companies subject to the small companie< regime and in accordance with 102 SORP. The notes forni part of these Financsal Ststements 18natory.' Mrs K E Millatt Asjproved by the Board on......-.. ........... . 5T MAWGAN PRE-SCHOOL LIMITED Notes to the Financial Statements for the Year Ended 31 August 2024 I. ACCOUNTING POLlaES al Genernl The Financial Statements have been prepared under the historical cost convention and follow the recommendatlOn5 in Accounting and Reporting by Charities.. Slatement of Recornrnended Practice IFRS 1021. bl Incomln8 Res￿￿￿e5 Voluntary incorne is recognized as intorning resources when receivable, except in so far as they are incapable of financial measurement. When donors specify that donations and grants given to the charity must be used in future accounting periods, the incorne is deferred until those period In¢orning resources are fecognized in the finanaal staternents when the effect of a transaction or other event results in an increase in the Charl￿5 assets. Dependellt upon.. l. The Chariws entitlement to the income 2. When it is virtually certain that the income resource will be received 3. When the rnonetsry value of the income can be measured with sufficient reliability cl Reg)urce$ Expended Resouros expended are recognized in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered. Certain expenditure is directly attributable to specific acti￿TtleS and has been included in those cost categories. Certain other costs. which a￿ attributsble to more than one activity, are apportioned on an appropriate basis. Charitable expenditure comprises those costs incurred bythe Charity in the delivery of its activities and seNice5 for r(s beneficiarie5. It includes both costs that can be allotated directly to such activities and those c05t5 of an indirect nature necessary to support them. Governano costs indude those costs associated with meeting the constitutional and statutory requirtments of the Charity. d) Tanglble Fixed Assets & Depreclatk*n Tangible fixed assets arevalued ai historic Cost less any transaction costs. No revaluations are required as all asset5 have 4 short life. No de minimis value has been set and assets have been rèwewed for impairments by the trustee5. Depfeciation is pro￿lded atthe following annual fates in order to write off each assetover iysestimated useful life:. Computer equipment Straight Ilne over 3 years Equipment 25% reducing balance basls ST MAWGAN PRE-￿HOOL LIMITED Notes to the Financial Statements for the Year Ended 31 August 2024 el Reallzed •rtd unrnaltsod pln$4nd kns All gains and105se5 are taken to the Statement of Finandal Actiwtiès as they arise. Realized gains and losse5 on asset disposals are calculated as the difference between sales proceeds and the net book value recorded in the acCO￿ts. Unrestrk*•d Fund$ Unrestricted fvnds are grants and other incoming resources receivable or generated for the objects of the charity without fvrther speciffied purpose and are available as general funds. Deslgnated Fu￿$ Designated funds are unrestricted fijnds earmarked by the Trustees for partiatlar purpcw. The use of such fvnds is at the Trustee< discretion. h) Re5trkted Funds Restricted funds are to be used for speofic purposes as laid down by the donor. Expenditure which rneets these criteria is charged to the fund. t￿ether with a fair allocation of sUp￿t costs. 2. FUNDI Ursrestricted Funds 2024 ReStr￿ted Funds 2024 Total Funds 2024 Total Funds 2023 Cornwall COUMI 74,612 74,612 55,563 74,612 74,612 55,563 io ST MAWGAN PRE-SCHOOL LIMITED Notes to the Financial Statements for the Year Ended 31 August 2024 3. INCOMING RESOUR￿$ FROM (IIARITABLE AcfiviTIES UnrestrSded Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Fees 23,974 23,974 16,037 Income from fundraising artivities Other income 692 692 2,688 iio 673 Donations 1,066 1,(%6 1,994 Grants 749 749 2,751 26,591 26,591 24,143 4. COSTS OF GENERATING VOLUNTARY INCOME Unrestricted Funds 2024 Rèstricted Fund$ 2024 Totsl Funds 2024 Total Funds 2023 Insuran 1,355 1.355 Rent & Rates 8.025 8,025 6,207 9,3 9,3 li ST MAWGAN PRE-SCHOOL LIMITED Notes to the Financial Statements for the Year Ended 31 August 2024 5. CHARITABLE AcrwinES Unrestrlcted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Wages 60,551 60.551 54,769 Books, play equipment, etr 2,491 2,491 1,185 Refreshments 851 851 811 Cleaning expenses 147 Pension contributions I,ioi I,ioi 872 Expenses for fvnd raising events Uniforms 288 360 360 Training expensès 250 250 543 Stationery 193 Membership & licenses 374 374 356 Sundry expenses 2,262 Depreciation 91 Excursions 450 67,638 67,638 62,Crf)7 6. GOVERNANCE COSTS Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Accountancy fees 883 758 Payroll bureau fees 360 360 360 1,243 1,243 1,118 12 ST MAWGAN PRE-SCHOOL LIMITED Notes to the Financial Ststements for the Year Ended 31 August 2024 7. TRUSTEES None of the trustees lor aTry persons connected with theml received any remuneration or reimbursement of out- of-pocket expenses during the period. TMMTION The charitable company is exempt from Corporation Tax on its charitable activities. 9. TANGIBLE FIXED ASSErs Equipment Computer Equipment Total C05t as at I Septernber 2023 L736 2,983 4,719 Additions Disposals Cost as at 31 August 2024 1.736 2,983 4,719 Depreciation as at I September 2023 1,611 2,837 Depreciation charge for the year 31 49 Depreuation on disposals Depreciation as at 31 August 2024 1,642 2,886 4,528 Net Book Value as at 31 Au8USt 2023 125 146 271 Net 8ook Value as at 31 August 2024 94 97 191 13 ST MAWGAN pRE-￿HOOL LIMITED Notes to the Financial Statements for the Year Ended 31 August 2024 10. DEBTORS 2024 2023 Trade Debtors 215 215 11. aiEDIT