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 2023
Mark Vickers Accountants Limited Ground Floor 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 2023
| 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 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
The Little Acorns Pre-School And Oaks After School Club
Reference and Administrative Details for the Year Ended 31 August 2023
TRUSTEES Mr P L James Mrs A C Shepherd Mrs T L Wilson Ms R Swain REGISTERED OFFICE Kennington Primary School Kennington Road Fulwood Lancashire PR2 8ER REGISTERED COMPANY 06966567 (England and Wales) NUMBER REGISTERED CHARITY 1136626 NUMBER INDEPENDENT EXAMINER Mark Vickers Accountants Limited Ground Floor 6&7 Eastway Business Village Olivers Place Preston Lancashire PR2 9WT
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The Little Acorns Pre-School And Oaks After School Club
Report of the Trustees for the Year Ended 31 August 2023
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 2023. 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 have carried on using 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. The adjoining primary school has started to offer more after-school activities meaning even less children are needing to use the after-school facilities we offer.
Maintaining the building still remains an ongoing challenge with more repairs needed to repair the roof and exterior. 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 .We expect this work to be completed over the next few years.
As well as the repairs mentioned above, we are also in the process of updating our garden space, internal furniture and other external building work and so anticipate overall costs to be in the realm of £65k which we have kept a provision aside for.
Staff retention levels remained static in the current year.
As expected we have been at full capacity for the current year and we anticipate this to continue into the next financial year.
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.
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.
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The Little Acorns Pre-School And Oaks After School Club
Report of the Trustees for the Year Ended 31 August 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT 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 ............................................. 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 2023.
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:
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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
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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
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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 6&7 Eastway Business Village Olivers Place Preston Lancashire PR2 9WT
Date: .............................................
Page 4
The Little Acorns Pre-School And Oaks After School Club
Statement of Financial Activities for the Year Ended 31 August 2023
| 31.8.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Pre-school and After School 187,994 Other trading activities 2 1,667 Investment income 3 3,934 Total 193,595 EXPENDITURE ON Charitable activities Pre-school and After School 159,417 NET INCOME 34,178 RECONCILIATION OF FUNDS Total funds brought forward 155,656 TOTAL FUNDS CARRIED FORWARD 189,834 |
31.8.22 Total funds £ 187,320 1,170 455 188,945 182,519 6,426 149,230 155,656 |
|---|---|
The notes form part of these financial statements
Page 5
The Little Acorns Pre-School And Oaks After School Club
Balance Sheet
31 August 2023
| 31.8.23 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 42,394 CURRENT ASSETS Debtors 9 505 Cash at bank 149,553 150,058 CREDITORS Amounts falling due within one year 10 (2,618) NET CURRENT ASSETS 147,440 TOTAL ASSETS LESS CURRENT LIABILITIES 189,834 NET ASSETS 189,834 FUNDS 11 Unrestricted funds 189,834 TOTAL FUNDS 189,834 |
31.8.22 Total funds £ 49,428 169 108,279 108,448 (2,220) 106,228 155,656 155,656 155,656 155,656 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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.
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 ............................................. and were signed on its behalf by:
............................................. Mrs A C Shepherd - Trustee
The notes form part of these financial statements
Page 6
The Little Acorns Pre-School And Oaks After School Club
Notes to the Financial Statements
for the Year Ended 31 August 2023
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...
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The Little Acorns Pre-School And Oaks After School Club
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
2. OTHER TRADING ACTIVITIES
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 31.8.23 | 31.8.22 | ||
| £ | £ | ||
| Fundraising events | 1,667 | 1,170 | |
| 3. | INVESTMENT INCOME | ||
| Interest receivable | 31.8.23 £ 3,934 |
31.8.22 £ 455 |
|
| 4. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| Independent examination | 31.8.23 £ 744 |
31.8.22 £ 660 |
|
| Depreciation - owned assets | 7,034 | 7,426 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There was one trustee who received remuneration in the year for her role as Manager, as detailed in note 6.
No other trustees received any remuneration or other benefits for the year ended 31 August 2023 or 31 August 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
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 |
31.8.23 £ 119,260 1,798 5,070 126,128 31.8.23 8 |
31.8.22 £ 114,556 1,676 4,696 120,928 31.8.22 8 |
|---|---|---|
No employees received emoluments in excess of £60,000.
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 £48,258 (2022 - £45,302).
continued...
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The Little Acorns Pre-School And Oaks After School Club
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Charitable activities Pre-school and After School Other trading activities Investment income Total EXPENDITURE ON Charitable activities Pre-school and After School NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 8. TANGIBLE FIXED ASSETS Buildings £ COST At 1 September 2022 and 31 August 2023 95,427 DEPRECIATION At 1 September 2022 46,480 Charge for year 6,554 At 31 August 2023 53,034 NET BOOK VALUE At 31 August 2023 42,393 At 31 August 2022 48,947 |
Unrestricted fund £ 187,320 1,170 455 188,945 182,519 6,426 149,230 155,656 Outside playarea Equipment Totals £ £ £ 21,506 18,863 135,796 21,506 18,382 86,368 - 480 7,034 21,506 18,862 93,402 - 1 42,394 - 481 49,428 |
|---|---|
continued...
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The Little Acorns Pre-School And Oaks After School Club
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
| 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 At 1.9.22 £ Unrestricted funds General fund 155,656 TOTAL FUNDS 155,656 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 193,595 TOTAL FUNDS 193,595 Comparatives for movement in funds At 1.9.21 £ Unrestricted funds General fund 149,230 TOTAL FUNDS 149,230 |
31.8.23 31.8.22 £ £ 505 169 31.8.23 31.8.22 £ £ 2,618 2,220 Net movement At in funds 31.8.23 £ £ 34,178 189,834 34,178 189,834 Resources Movement expended in funds £ £ (159,417) 34,178 (159,417) 34,178 Net movement At in funds 31.8.22 £ £ 6,426 155,656 6,426 155,656 |
|---|---|
continued...
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The Little Acorns Pre-School And Oaks After School Club
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 188,945 188,945 |
Resources Movement expended in funds £ £ (182,519) 6,426 (182,519) 6,426 |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.9.21 £ 149,230 149,230 |
Net movement in funds £ 40,604 40,604 |
At 31.8.23 £ 189,834 189,834 |
|---|---|---|---|
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 £ 382,540 382,540 |
Resources Movement expended in funds £ £ (341,936) 40,604 (341,936) 40,604 |
|---|---|---|
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2023.
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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 Toys and equipment Subscriptions Training Repairs Sundry Bank charges Depreciation of tangible fixed assets Support costs Governance costs Independent examination Total resources expended Net income |
Detailed Statement of Financial Activities for the Year Ended 31 August 2023 31.8.23 31.8.22 Unrestricted Total funds funds £ £ 1,667 1,170 3,934 455 41,467 37,536 146,325 148,670 202 1,114 187,994 187,320 193,595 188,945 119,260 114,556 1,798 1,676 5,070 4,696 4,286 1,300 707 683 801 700 583 776 2,017 1,561 5,658 7,581 274 193 604 230 7,235 36,869 3,271 3,602 75 10 7,034 7,426 158,673 181,859 744 660 159,417 182,519 34,178 6,426 |
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This page does not form part of the statutory financial statements
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