REGISTERED COMPANY NUMBER: 06966567 (England and Wales) REGISTERED CHARITY NUMBER: 1136626
The Little Acorns Pre-School And Oaks After School Club Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2021
Mark Vickers Accountants Limited Ground Floor Units 6 & 7 Eastway Business Village Olivers Place Preston Lancashire PR2 9WT
The Little Acorns Pre-School And Oaks After School Club
Contents of the Financial Statements for the Year Ended 31 August 2021
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 13 |
| Detailed Statement of Financial Activities | 14 | to | 15 |
The Little Acorns Pre-School And Oaks After School Club
Reference and Administrative Details for the Year Ended 31 August 2021
TRUSTEES
Mr J W Bailey (resigned 23.8.21) Mr P L James Mrs A C Shepherd Mrs T L Wilson Ms R Swain (appointed 23.8.21)
REGISTERED OFFICE
Kennington Primary School Kennington Road Fulwood Lancashire PR2 8ER
REGISTERED COMPANY 06966567 (England and Wales) NUMBER
REGISTERED CHARITY NUMBER 1136626
INDEPENDENT EXAMINER
Mark Vickers Accountants Limited Ground Floor Units 6 & 7 Eastway Business Village Olivers Place Preston Lancashire PR2 9WT
Page 1
The Little Acorns Pre-School And Oaks After School Club
Report of the Trustees for the Year Ended 31 August 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives are to provide and/or assist in the provision of childcare and education services for the benefit of the community, in particular (without limitation) pre-school and afterschool services in the area of Fulwood.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
We are proud to say we are continuing with the Outstanding grading from Ofsted 2018 by working very closely with our parents and the local community. The manager continues to support a local setting by being on their management committee.
To enable staff to continue with their learning we signed up to an online training company, which enables staff to complete courses and refresh on updates over the coming 12 months.
The contribution of the Pre-School continues to dominate the setting with only 10% of income attributed to the after-school club provision. Reason for the decline in the After-School club demand included an increase in After School sport and other clubs provided by the school itself, the adverse economic climate and an increasing Asian heritage demographic at the school meaning more children are supported after school in multi-generational homes. However, the afterschool club is still valued by those families continuing to use it.
Maintaining the building still remains an ongoing challenge with more repairs needed in the year to repair the floor and roof. The building of the new extension began in October 2020 and was scheduled to be completed in December 2020. However, the building work wasn't carried out to the correct standard and the building inspectors had to be called in. Moving forward we have employed a new builder and are working with the inspectors to fix the issues which will incur more costs.
We employed three new members of staff, two were for the new building and one replaced a staff member who left.
We changed our on-line learning Journal company, as the cost of the current one increased and we were constantly repairing the tablets needed for it.
FINANCIAL REVIEW
Reserves policy
The Trustees have identified that significant expenditure is likely to continue to be needed to maintain the Club premises as well as to make necessary improvements. As a consequence there is a policy of building up a suitable reserve to put towards this, in the expectation that further funding can be obtained elsewhere. The Reserves policy reflects this as well as the need to allow an orderly wind-up of the Club should demand for its services decline for an unforeseen reason.
Impact of the Coronavirus
We re-opened to full capacity in September 2020. There were no lasting impacts felt at the setting from the coronavirus pandemic, any effects were felt in the previous year.
The building of the new extension began during the coronavirus pandemic but due to issues with the builder is still ongoing.
We continue to run effectively with the help of grants received from Lancashire County Council and the fees paid by parents.
Page 2
The Little Acorns Pre-School And Oaks After School Club
Report of the Trustees for the Year Ended 31 August 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a charitable company limited by guarantee and not having a share capital and, in accordance with Section 30 (2) of the Companies Act 1985, is exempt from the requirement to use the word 'limited' as part of its name. It is governed by a Memorandum and Articles of Association.
The Company was entered onto the Register of Charities on 29th June 2010. It is registered with OFSTED, no. EY417226.
Recruitment and appointment of new trustees
Each term we have a committee meeting.
Related parties
Due to the nature of the Charity and the composition of the Board of Directors/Trustees (mainly being parents), it is inevitable that transactions will take place with the trustees. All trustees who are parents pay the normal subscriptions, however none of the current trustees have any such link.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
COMMENCEMENT OF ACTIVITIES
The charity commenced operation of its first year on 1st September 2009 when the assets of the predecessor organisation were handed over.
Approved by order of the board of trustees on 17 November 2021 and signed on its behalf by:
Mrs A C Shepherd - Trustee
Page 3
Independent Examiner's Report to the Trustees of The Little Acorns Pre-School And Oaks After School Club
Independent examiner's report to the trustees of The Little Acorns Pre-School And Oaks After School Club ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mark Vickers Accountants Mark Vickers Accountants Limited Ground Floor Units 6 & 7 Eastway Business Village Olivers Place Preston Lancashire PR2 9WT
17 November 2021
Page 4
The Little Acorns Pre-School And Oaks After School Club
Statement of Financial Activities
for the Year Ended 31 August 2021
| Notes INCOME AND ENDOWMENTS FROM Charitable activities Pre-school and After School Other trading activities 2 Investment income 3 Total EXPENDITURE ON Charitable activities Pre-school and After School NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.8.21 Unrestricted fund £ 138,443 1,170 67 139,680 128,421 11,259 137,971 149,230 |
31.8.20 Total funds £ 151,899 1,130 459 |
|---|---|---|
| 153,488 115,403 |
||
| 38,085 99,886 |
||
| 137,971 |
The notes form part of these financial statements
Page 5
The Little Acorns Pre-School And Oaks After School Club
Balance Sheet
31 August 2021
| Notes FIXED ASSETS Tangible assets 8 CURRENT ASSETS Debtors 9 Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
31.8.21 Unrestricted fund £ 53,434 158 98,108 98,266 (2,470) 95,796 149,230 149,230 149,230 149,230 |
31.8.20 Total funds £ 7,973 940 131,401 132,341 (2,343) 129,998 137,971 137,971 137,971 137,971 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
The Little Acorns Pre-School And Oaks After School Club
Balance Sheet - continued 31 August 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 17 November 2021 and were signed on its behalf by:
Mrs A C Shepherd - Trustee
The notes form part of these financial statements
Page 7
The Little Acorns Pre-School And Oaks After School Club
Notes to the Financial Statements for the Year Ended 31 August 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Buildings - 10% on cost Outside playarea - 20% on cost Equipment - 33% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 8
The Little Acorns Pre-School And Oaks After School Club
Notes to the Financial Statements - continued
for the Year Ended 31 August 2021
2. OTHER TRADING ACTIVITIES
3.
4.
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 31.8.21 | 31.8.20 | |
| £ | £ | |
| Fundraising events | 1,170 | 1,130 |
| INVESTMENT INCOME | ||
| 31.8.21 | 31.8.20 | |
| £ | £ | |
| Interest receivable | 67 | 459 |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 31.8.21 | 31.8.20 | |
| £ | £ | |
| Independent examination | 600 | 240 |
| Depreciation - owned assets | 7,148 | 1,551 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There was one trustee who received remuneration in the year for her role as Manager, as detailed in note 7.
No other trustees received any remuneration or other benefits for the year ended 31 August 2021 or 31 August 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.
6. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Average number of employees No employees received emoluments in excess of £60,000. |
31.8.21 £ 97,372 688 2,497 100,557 31.8.21 8 |
31.8.20 £ 93,664 1,805 5,025 |
||
|---|---|---|---|---|
| 100,494 | ||||
| 31.8.20 7 |
continued...
Page 9
The Little Acorns Pre-School And Oaks After School Club
Notes to the Financial Statements - continued
for the Year Ended 31 August 2021
6. STAFF COSTS - continued
The charitable company considers its two key management personnel to be the Manager (who is a director of the company) and the Deputy Manager. The total employee benefits, including employer pension contributions of the two key management personnel were £41,914 (2020 - £41,880).
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Charitable activities | |
| Pre-school and After School | 151,899 |
| Other trading activities | 1,130 |
| Investment income | 459 |
| Total | 153,488 |
| EXPENDITURE ON | |
| Charitable activities | |
| Pre-school and After School | 115,403 |
| NET INCOME | 38,085 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 99,886 |
| TOTAL FUNDS CARRIED FORWARD | 137,971 |
continued...
Page 10
The Little Acorns Pre-School And Oaks After School Club
Notes to the Financial Statements - continued
for the Year Ended 31 August 2021
8. TANGIBLE FIXED ASSETS
| Buildings £ COST At 1 September 2020 40,838 Additions 51,169 At 31 August 2021 92,007 DEPRECIATION At 1 September 2020 33,429 Charge for year 6,387 At 31 August 2021 39,816 NET BOOK VALUE At 31 August 2021 52,191 At 31 August 2020 7,409 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income 11. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS |
Buildings £ COST At 1 September 2020 40,838 Additions 51,169 At 31 August 2021 92,007 DEPRECIATION At 1 September 2020 33,429 Charge for year 6,387 At 31 August 2021 39,816 NET BOOK VALUE At 31 August 2021 52,191 At 31 August 2020 7,409 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income 11. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS |
Outside playarea £ 21,506 - 21,506 21,506 - 21,506 - - At 1.9.20 £ 137,971 137,971 |
Equipment £ 17,423 1,440 18,863 16,859 761 17,620 1,243 564 31.8.21 £ 158 31.8.21 £ 2,470 Net movement in funds £ 11,259 11,259 |
Totals £ 79,767 52,609 |
||
|---|---|---|---|---|---|---|
| 132,376 | ||||||
| 71,794 7,148 |
||||||
| 78,942 | ||||||
| 53,434 | ||||||
| 7,973 | ||||||
| 31.8.20 £ 940 31.8.20 £ 2,343 At 31.8.21 £ 149,230 |
||||||
| 149,230 |
continued...
Page 11
The Little Acorns Pre-School And Oaks After School Club
Notes to the Financial Statements - continued
for the Year Ended 31 August 2021
11. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 139,680 139,680 |
Resources expended £ (128,421) (128,421) |
Movement in funds £ 11,259 |
|---|---|---|---|
| 11,259 |
Comparatives for movement in funds
| At 1.9.19 £ Unrestricted funds General fund 99,886 TOTAL FUNDS 99,886 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 153,488 TOTAL FUNDS 153,488 |
Net movement in funds £ 38,085 38,085 Resources expended £ (115,403) (115,403) |
At 31.8.20 £ 137,971 137,971 Movement in funds £ 38,085 |
At 31.8.20 £ 137,971 |
|
|---|---|---|---|---|
| 137,971 | ||||
| 38,085 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.9.19 £ 99,886 99,886 |
Net movement in funds £ 49,344 49,344 |
At 31.8.21 £ 149,230 |
|---|---|---|---|
| 149,230 |
continued...
Page 12
The Little Acorns Pre-School And Oaks After School Club
Notes to the Financial Statements - continued
for the Year Ended 31 August 2021
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 293,168 293,168 |
Resources expended £ (243,824) (243,824) |
Movement in funds £ 49,344 49,344 |
|---|---|---|---|
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2021.
Page 13
The Little Acorns Pre-School And Oaks After School Club
| INCOME AND ENDOWMENTS Other trading activities Fundraising events Investment income Interest receivable Charitable activities Fees Grants Other income Total incoming resources EXPENDITURE Charitable activities Wages Social security Pensions Rent, rates and utilities Insurance Telephone Postage and stationery Food Activities and transport Toys and equipment Subscriptions Registration fees Training Repairs Sundry Bank charges Depreciation of tangible fixed assets |
Detailed Statement of Financial Activities for the Year Ended 31 August 2021 |
31.8.21 Unrestricted funds £ 1,170 67 26,321 109,642 2,480 138,443 139,680 97,372 688 2,497 1,600 671 597 275 1,393 - 5,177 211 35 970 5,265 3,852 70 7,148 127,821 |
31.8.20 Total funds £ 1,130 459 17,544 132,565 1,790 |
|---|---|---|---|
| 151,899 | |||
| 153,488 93,664 1,805 5,025 1,372 747 986 540 966 389 1,624 461 35 415 2,621 2,849 113 1,551 |
|||
| 115,163 |
Support costs
This page does not form part of the statutory financial statements
Page 14
The Little Acorns Pre-School And Oaks After School Club
| Support costs Governance costs Independent examination Total resources expended Net income |
Detailed Statement of Financial Activities for the Year Ended 31 August 2021 |
31.8.21 Unrestricted funds £ 600 128,421 11,259 |
31.8.20 Total funds £ 240 |
|---|---|---|---|
| 115,403 | |||
| 38,085 |
This page does not form part of the statutory financial statements
Page 15