REGISTERED COMPANY NUMBER: 07079369 (England and Wales) REGISTERED CHARITY NUMBER: 1136923
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
FOR THE LITTLE ARK PRESCHOOL
McCabe Ford Williams Chartered Accountants Invicta Business Centre Monument Way Orbital Park Ashford Kent TN24 0HB
THE LITTLE ARK PRESCHOOL
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
THE LITTLE ARK PRESCHOOL (REGISTERED NUMBER: 07079369)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022
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 July 2022. 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
To enhance the development and education of children primarily under statutory school age in particular but not exclusively by:
i) offering appropriate play, education and care facilities and training courses and by
ii) creating a happy and caring and inclusive environment in which children can explore and develop and to nurture their self esteem and work alongside parents and prepare them for their transition to school.
Public benefit
In carrying out the Charity's objectives the Trustees have had due regard for the guidance issued by the Charity Commission on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
This charitable company was set up on 18 November 2009 and subsequently achieved registered charity status on 15 July 2010.
The charity has continued to strive to meet its objectives which have been assisted by fundraising activities, initiatives and staff training.
An Ofsted inspection was carried out in July 2017 and resulted in a grading of 'Good'. We continue to review our practises in readiness for Ofsted. We are still awaiting our new Ofsted inspection since the new supervisor was appointed in October 2017.
FINANCIAL REVIEW
Overview
The Little Ark has had another successful year and continues to maintain a good reputation in the local area. The waiting list remains consistently healthy.
The figures for the year show a surplus of £416 (2021: £25,356 2020: £14,664).
We have continued to keep our sessions availability higher to maintain our income. Increases to fees will be implemented from September 2022 and January 2023 to keep fees in line with other local settings.
We invested a large sum of money repairing and updating the grassed garden area. This involved drainage being installed under the grass, sub base and shockpad repair and new grass this year. This cost £9,750 Statutory Training is funded by the Collaboration this year but will not be funded from September.
COVID-19
We received a grant of £3,509.45 Contain Outbreak Management Funding this was a grant to support childcare settings in their recovery after the pandemic.
Reserves policy
The charity monitors its funds and funding requirements informally on a regular basis and is still looking to adopt a more formal reserves policy.
FUTURE PLANS
We have had an Apprentice during the year and she passed her course, going forward we would like to employ her on a permanent basis. We received some Government Funding to take on the apprentice.
We continue to be part of a large collaboration of 27 settings in Ashford, and two of our staff hold key roles within this group (Chair and Treasurer). The group is thriving by sharing good practice.
Next year: The Collaboration are giving each setting up to £850 to spend on items to benefit the children in the setting, this should be available from October.
Outdoor Improvements: We are planning on spending approximately £8,000 on resurfacing the balcony area in October.
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THE LITTLE ARK PRESCHOOL (REGISTERED NUMBER: 07079369)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
The policy of the charity is to appoint trustees from the following positions within the school: Head Teacher, School Governor, Office Manager.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07079369 (England and Wales)
Registered Charity number
1136923
Registered office
The Little Ark Wesley School Road Cuckoo Lane Ashford Kent TN23 5LW
Trustees
P G Spragg Mrs C A Clark Miss R S Harrington Mrs P M Wood
Company Secretary C Rae
Independent Examiner
McCabe Ford Williams Chartered Accountants Invicta Business Centre Monument Way Orbital Park Ashford Kent TN24 0HB
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 29 November 2022 and signed on its behalf by:
P G Spragg - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LITTLE ARK PRESCHOOL
Independent examiner's report to the trustees of The Little Ark Preschool ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2022.
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 C Greenwood FCA McCabe Ford Williams Chartered Accountants Invicta Business Centre Monument Way Orbital Park Ashford Kent TN24 0HB
29 November 2022
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THE LITTLE ARK PRESCHOOL
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Income from charitable activities 135,676 Operation of the preschool - Other trading activities 2 741 Investment income 3 33 Total 136,450 EXPENDITURE ON Charitable activities Operation of the preschool 136,924 NET INCOME/(EXPENDITURE) (474) RECONCILIATION OF FUNDS Total funds brought forward 155,218 TOTAL FUNDS CARRIED FORWARD 154,744 |
Restricted funds £ 3,509 19,904 - - 23,413 22,523 890 - 890 |
2022 Total funds £ 139,185 19,904 741 33 159,863 159,447 416 155,218 155,634 |
2021 Total funds £ 139,031 20,461 153 8 |
|---|---|---|---|
| 159,653 | |||
| 134,297 | |||
| 25,356 129,862 |
|||
| 155,218 |
The notes form part of these financial statements
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THE LITTLE ARK PRESCHOOL (REGISTERED NUMBER: 07079369)
BALANCE SHEET 31 JULY 2022
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 9 853 CURRENT ASSETS Stocks 10 722 Debtors 11 623 Cash at bank and in hand 157,024 158,369 CREDITORS Amounts falling due within one year 12 (4,478) NET CURRENT ASSETS 153,891 TOTAL ASSETS LESS CURRENT LIABILITIES 154,744 NET ASSETS 154,744 FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ 890 - - - - - - 890 890 |
2022 Total funds £ 1,743 722 623 157,024 158,369 (4,478) 153,891 155,634 155,634 154,744 890 155,634 |
2021 Total funds £ 1,199 704 765 156,586 158,055 (4,036) 154,019 155,218 155,218 155,218 - 155,218 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 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.
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 29 November 2022 and were signed on its behalf by:
P G Spragg - Trustee
R S Harrington - Trustee
The notes form part of these financial statements
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THE LITTLE ARK PRESCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
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.
Statutory Information
The Little Ark Preschool is a charitable company, Limited by guarantee and registered in England. The charity's registered number, principal address and nature of operation can be found within the Report of the Trustees.
The accounts are presented in sterling which is the functional currency of the charitable company.
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.
Fixtures, fittings & equipment
- 20% on a straight line basis
It is the policy of the Charity to capitalise items that will be used for more than one year. These items are initially recognised at cost.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
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THE LITTLE ARK PRESCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
2. OTHER TRADING ACTIVITIES
3.
4.
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Fundraising events | 741 | 153 |
| INVESTMENT INCOME | ||
| 2022 | 2021 | |
| £ | £ | |
| Deposit account interest | 33 | 8 |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 2022 | 2021 | |
| £ | £ | |
| Depreciation - owned assets | 568 | 579 |
| Deficit on disposal of fixed assets | - | 385 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2022 nor for the year ended 31 July 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2022 nor for the year ended 31 July 2021.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
7.
| All staff No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Charitable activities Income from charitable activities 139,031 Operation of the preschool 1,691 Other trading activities 153 Investment income 8 Total 140,883 EXPENDITURE ON Charitable activities Operation of the preschool 115,527 NET INCOME 25,356 RECONCILIATION OF FUNDS Total funds brought forward 129,862 |
2022 12 Restricted fund £ - 18,770 - - 18,770 18,770 - - |
2021 13 Total funds £ 139,031 20,461 153 8 |
|---|---|---|
| 159,653 | ||
| 134,297 | ||
| 25,356 129,862 |
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THE LITTLE ARK PRESCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
| 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted fund £ TOTAL FUNDS CARRIED FORWARD 155,218 8. INDEPENDENT EXAMINERS REMUNERATION During the year the following fees were incurred for the examination of the accounts. Independent examiner’s fees Accountancy services fees paid to the independent examiner 9. TANGIBLE FIXED ASSETS COST At 1 August 2021 Additions At 31 July 2022 DEPRECIATION At 1 August 2021 Charge for year At 31 July 2022 NET BOOK VALUE At 31 July 2022 At 31 July 2021 10. STOCKS Stocks 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors |
Restricted fund £ - |
Restricted fund £ - |
|---|---|---|
| 2022 | ||
| £ | ||
| 400 | ||
| 750 | ||
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THE LITTLE ARK PRESCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| Trade creditors Social security and other taxes Accruals and deferred income |
2022 £ 2,980 198 1,300 4,478 |
2021 £ 1,094 292 2,650 |
| 4,036 |
The deferred income is in relation to deposits received for the following school year.
13. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Contain Outbreak Management Fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds System Leadership Supplement Contain Outbreak Management Fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 1.8.21 £ 155,218 - 155,218 Incoming resources £ 136,450 19,904 3,509 23,413 159,863 At 1.8.20 £ 129,862 129,862 |
Net movement At in funds 31.7.22 £ £ (474) 154,744 890 890 416 155,634 Resources Movement expended in funds £ £ (136,924) (474) (19,904) - (2,619) 890 (22,523) 890 (159,447) 416 Net movement At in funds 31.7.21 £ £ 25,356 155,218 25,356 155,218 |
At 31.7.22 £ 154,744 890 |
|---|---|---|---|
| 155,634 | |||
| 890 | |||
| 416 | |||
| At 31.7.21 £ 155,218 |
|||
| 155,218 |
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THE LITTLE ARK PRESCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
13.
MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds System Leadership Supplement TOTAL FUNDS |
Incoming resources £ 140,883 18,770 159,653 |
Resources Movement expended in funds £ £ (115,527) 25,356 (18,770) - (134,297) 25,356 |
Resources Movement expended in funds £ £ (115,527) 25,356 (18,770) - (134,297) 25,356 |
|---|---|---|---|
| 25,356 |
The System Leadership Supplement from Local Government was contributed to the Ashford Early Years Collaboration in accordance with the terms under which this supplement was awarded.
The Contain Outbreak Management Fund is funding from KCC for initiatives that support proactive containment and intervention measures in relation to COVID-19..
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2022.
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