## Padbury Pre-school Financial Statement September 1[st] , 2023, to August 31[st] 2024 AGM – Tuesday 19[th] November 2024 Our main source of income is from fees with 2-, 3- and 4-year-old funding including DAF (Disability Funding) & PP (Pupil Premium) bringing in £108,604.26 and parent fees including the daily consumable charge bringing in £28,256. We have been lucky to receive £33,599.03 in SEND (Special Educational Needs and Disabilities) money this year which has helped our finances and the support and resources we are able to provide the children with to help and support them all learn and grow at their own pace and enable them to reach their full potential. We have received other income towards our new building £753 from Rotary, £3,231.22 from members of the public, and a kind donation of £5,000 from Buckingham Preschool due to their closure. We have also received a Tesco grant of £1,000 for our Forest School area and equipment. Sonya has been working hard on the forest school area and has purchased resources as and when needed. Thanks must go to the PFA who work hard with support from the pre-school staff, committee and parents at some events. They have donated £3,000 this year enabling us to purchase soft play equipment, iPads and complete fence repairs and increase the size of fencing to ensure the pre-school is a safe and secure environment for all. We have also been lucky to receive a massive number of resources free of charge from Deanshanger Pre-school which was closing in the summer which has meant we can add to the soft play equipment we purchased and receive a welly rack, bookcase, dressing up equipment, piano and scooters to name a few. Our biggest out going is staffing at £88,658.11. Tax and National insurance at £4,819.15 and pension at £3,650.97 however without our staff we wouldn’t have the amazing pre-school we have. Mandy is an exceptional leader with infectious enthusiasm and is respected by all staff. Every member of staff works well together, each bringing something to the pre-school, fitting together like a jigsaw puzzle to make Padbury Pre-school a happy positive workplace and a place where every child’s needs are met. We gave staff a generous pay increase in April 2024 as we value the work ALL our staff do. We have been able to renew Sue’s contract and offer contracts to Claire S, Kathryn & Vicky. Rachel has taken on the joint deputy role with Sonya and her pay reflects the extra responsibility. Staff receive regular training to ensure they have up to date knowledge and continuous professional development. Both Debbie and Michael are both doing apprenticeships with us and are being paid the minimum wage and not the apprenticeship rate of pay because we value the work they do and everything they bring to the setting. We were lucky for 3 members of staff to complete a fully funded course through Bucks County Council. We pay £2,933.13 for the building to be cleaned daily with jobs added to the list as and when needed. Paul will do any job that is asked of him including many gardening jobs, fixing leaking taps, nailing part of the roof back and looking after the building during the summer break when a full clean occurs. We have purchased many new resources this year including some already mentioned above and many consumables. We are grateful for the contributions of consumables from parents which help us to keep our costs down. We have improved the decking area this year to make it a room we can use in all weathers. Gas and electricity are on a fixed contract and when we overpay it is paid back to us during the review periods. Our water is on a meter and our phone and internet is also on a fixed business contract. Our total income for the year is £219,866.52 this includes any money coming into the account from the restricted and reserve accounts. Our total expenditure for the year is £212,586.07 and this includes money that has been transferred to the restricted and reserve accounts too. At the end of our financial year 31[st] August 2024 our restricted account (can only be spent on certain things) stood at £22,331.93 and our reserve account at £39,310.03 We opened the year with £11,549.78 in the main account and ended the year with a balance of £18,830.23 but we cannot be complacent especially after the recent budget with changes to NI contributions, Business Rates and minimum wage increases from April 2025 along with the changes to SEND funding this academic year. **REGISTERED COMPANY NUMBER: 06568931 (England and Wales) REGISTERED CHARITY NUMBER: 1139219** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 AUGUST 2024** ## **FOR** ## **PADBURY PRE-SCHOOL** **PADBURY PRE-SCHOOL** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 AUGUST 2024** ||**Page**| |---|---| |**Reference and Administrative Details**|1| |**Report of the Trustees**|2| |**Independent Examiner's Report**|3| |**Statement of Financial Activities**|4| |**Balance Sheet**|5 to 6| |**Notes to the Financial Statements**|7 to 12| |**Detailed Statement of Financial Activities**|13 to 14| **PADBURY PRE-SCHOOL** **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 AUGUST 2024** |**TRUSTEES**|C A Mchenry| |---|---| ||C M Miah| ||J K Blakey| ||A R Brown (resigned 13/11/2023)| ||A J Odams (appointed 14/11/2023)| ||Z Pearce| ||E White (appointed 30/10/2023)| ||S M Hayward (appointed 30/10/2023)| ||K E Allen (appointed 16/10/2024)| ||M A Rizou (appointed 7/11/2024)| |**REGISTERED OFFICE**|Padbury Pre School Building| ||Padbury C of E School| ||Buckinghamshire| ||MK18 2AP| |**REGISTERED COMPANY**|06568931 (England and Wales)| |**NUMBER**|| |**REGISTERED CHARITY**|1139219| |**NUMBER**|| |**INDEPENDENT EXAMINER**|Ad Valorem Accountancy Services Limited| ||Chartered Certified Accountants| ||2 Manor Farm Court| ||Old Wolverton Road| ||Old Wolverton| ||Buckinghamshire| ||MK12 5NN| Page 1 **PADBURY PRE-SCHOOL** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 AUGUST 2024** 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 30 August 2024. 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 trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake. ## **Achievements and performance** ## **Financial review** The trustees have assessed the major risks to which the charitable company is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Structure, governance and management** The pre-school operates as a not for profit company (limited by guarantee) registered with Companies House and we hold charitable status. We employ seven part-time staff and provide services to many local, 2-5 years old children. Although we are a company, we are set up as a committee with a chairperson, treasurer and secretary so that there are clear roles for all involved. ## **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. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: C A Mchenry C M Miah J K Blakey A J Odams (appointed 14/11/2023) Z Pearce (appointed 19/7/2023) E White (appointed 30/10/2023) S M Hayward (appointed 30/10/2023) K E Allen (appointed 16/10/2024) M A Rizou (appointed 7/11/2024) 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 13 February 2025 and signed on its behalf by: C A Mchenry - Trustee Page 2 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PADBURY PRE-SCHOOL** ## **Independent examiner's report to the trustees of Padbury Pre-School ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 August 2024. ## **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: 1. 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 3. 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 4. 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. Tom Foot FCA Ad Valorem Accountancy Services Limited Chartered Certified Accountants 2 Manor Farm Court Old Wolverton Road Old Wolverton Buckinghamshire MK12 5NN 13 February 2025 Page 3 ## **PADBURY PRE-SCHOOL** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 AUGUST 2024** **----- Start of picture text -----**
2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 16,951 27,148 44,099 9,801
Charitable activities 3 140,484 - 140,484 80,891
Investment income 4 303 153 456 22
Total 157,738 27,301 185,039 90,714
EXPENDITURE ON
Charitable activities 5
Charitable expenditure 117,047 10,720 127,767 94,434
Governance costs 763 - 763 -
Total 117,810 10,720 128,530 94,434
NET INCOME/(EXPENDITURE) 39,928 16,581 56,509 (3,720)
Transfers between funds 13 5,000 (5,000) - -
Net movement in funds 44,928 11,581 56,509 (3,720)
RECONCILIATION OF FUNDS
Total funds brought forward 12,698 82,464 95,162 98,882
TOTAL FUNDS CARRIED FORWARD 57,626 94,045 151,671 95,162
**----- End of picture text -----**
The notes form part of these financial statements Page 4 ## **PADBURY PRE-SCHOOL** ## **BALANCE SHEET 30 AUGUST 2024** **----- Start of picture text -----**
2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 10 - 71,714 71,714 75,955
CURRENT ASSETS
Debtors 11 1,050 - 1,050 208
Cash at bank 58,247 22,331 80,578 20,556
59,297 22,331 81,628 20,764
CREDITORS
Amounts falling due within one year 12 (1,671) - (1,671) (1,557)
NET CURRENT ASSETS 57,626 22,331 79,957 19,207
TOTAL ASSETS LESS CURRENT
LIABILITIES 57,626 94,045 151,671 95,162
NET ASSETS 57,626 94,045 151,671 95,162
FUNDS 13
Unrestricted funds 57,626 12,698
Restricted funds 94,045 82,464
TOTAL FUNDS 151,671 95,162
**----- End of picture text -----**
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 August 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 30 August 2024 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 5 continued... **PADBURY PRE-SCHOOL** ## **BALANCE SHEET - continued 30 AUGUST 2024** 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 13 February 2025 and were signed on its behalf by: C A Mchenry - Trustee The notes form part of these financial statements Page 6 **PADBURY PRE-SCHOOL** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 AUGUST 2024** ## **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. Freehold property - 5% on reducing balance Fixtures and fittings - 15% on reducing balance ## **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. Page 7 continued... **PADBURY PRE-SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 AUGUST 2024** **----- Start of picture text -----**
2. DONATIONS AND LEGACIES
2024 2023
£ £
Donations 43,099 9,801
-
Other grants 1,000
44,099 9,801
3. CHARITABLE ACTIVITIES
2024 2023
£ £
Fundraising events 64 611
Fee income and grants 140,420 80,280
140,484 80,891
4. INVESTMENT INCOME
2024 2023
£ £
Other interest receivable 456 22
5. CHARITABLE ACTIVITIES COSTS
Direct Support
Costs costs Totals
£ £ £
Charitable expenditure 117,232 10,535 127,767
Governance costs - 763 763
117,232 11,298 128,530
6. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2024 2023
£ £
Depreciation - owned assets 4,241 4,547
**----- End of picture text -----**
Page 8 continued... **PADBURY PRE-SCHOOL** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 AUGUST 2024** ## **7. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 August 2024 nor for the year ended 30 August 2023. ## **TRUSTEES' EXPENSES** There were no trustees' expenses paid for the year ended 30 August 2024 nor for the year ended 30 August 2023. **8. STAFF COSTS** |Wages and salaries
Social security costs
Other pension costs|**2024**
**£**
95,795
1,656
11,583
109,034|**2023**
**£**
65,951
1,326
7,010
74,287| |---|---|---| The average monthly number of employees during the year was as follows: ## **9.** |Employees
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**Unrestricted**
**fund**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
7,822
Charitable activities
80,316
Investment income
15
**Total**
88,153
**EXPENDITURE ON**
**Charitable activities**
Charitable expenditure
86,610
**NET INCOME/(EXPENDITURE)**
1,543
**RECONCILIATION OF FUNDS**
Total funds brought forward
11,155
**TOTAL FUNDS CARRIED FORWARD**
12,698|**2024**
10
**Restricted**
**fund**
**£**
1,979
575
7
2,561
7,824
(5,263)
87,727
82,464||**2023**
8
**Total**
**funds**
**£**
9,801
80,891
22
90,714
94,434
(3,720)
98,882
95,162| |---|---|---|---| Page 9 continued... **PADBURY PRE-SCHOOL** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 AUGUST 2024** **----- Start of picture text -----**
10. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£ £ £
COST
At 31 August 2023 and 30 August 2024 126,087 15,694 141,781
DEPRECIATION
At 31 August 2023 54,567 11,259 65,826
Charge for year 3,576 665 4,241
At 30 August 2024 58,143 11,924 70,067
NET BOOK VALUE
At 30 August 2024 67,944 3,770 71,714
At 30 August 2023 71,520 4,435 75,955
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 1,050 -
Other debtors - 208
1,050 208
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Social security and other taxes 476 574
Other creditors 445 233
Accruals and deferred income 750 750
1,671 1,557
13. MOVEMENT IN FUNDS
Net Transfers
movement between
At 31/8/23 in funds funds At 30/8/24
£ £ £ £
Unrestricted funds
Unrestricted funds 12,698 39,928 5,000 57,626
Restricted funds
Restricted funds 82,464 16,581 (5,000) 94,045
TOTAL FUNDS 95,162 56,509 - 151,671
**----- End of picture text -----**
Page 10 continued... **PADBURY PRE-SCHOOL** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 AUGUST 2024** ## **13. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Incoming**
**Resources**
**resources**
**expended**
**£**
**£**
**Unrestricted funds**
Unrestricted funds
157,738
(117,810)
**Restricted funds**
Restricted funds
27,301
(10,720)
**TOTAL FUNDS**
185,039
(128,530)
**Comparatives for movement in funds**
**Net**
**movement**
**At 31/8/22**
**in funds**
**£**
**£**
**Unrestricted funds**
Unrestricted funds
11,155
1,543
**Restricted funds**
Restricted funds
87,727
(5,263)
**TOTAL FUNDS**
98,882
(3,720)
Comparative net movement in funds, included in the above are as follows:
**Incoming**
**Resources**
**resources**
**expended**
**£**
**£**
**Unrestricted funds**
Unrestricted funds
88,153
(86,610)
**Restricted funds**
Restricted funds
2,561
(7,824)
**TOTAL FUNDS**
90,714
(94,434)|**Movement**
**in funds**
**£**
39,928
16,581
56,509
**At 30/8/23**
**£**
12,698
82,464
95,162
**Movement**
**in funds**
**£**
1,543
(5,263)
(3,720)| |---|---| Page 11 continued... **PADBURY PRE-SCHOOL** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 AUGUST 2024** ## **13. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
Unrestricted funds
**Restricted funds**
Restricted funds|**Net**
**Transfers**
**movement**
**between**
**At 31/8/22**
**in funds**
**funds**
**At 30/8/24**
**£**
**£**
**£**
**£**
11,155
41,471
5,000
57,626
87,727
11,318
(5,000)
94,045| |---|---| |**TOTAL FUNDS**|98,882
52,789
-
151,671| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
Unrestricted funds
**Restricted funds**
Restricted funds
**TOTAL FUNDS**|**Incoming**
**Resources**
**resources**
**expended**
**£**
**£**
245,891
(204,420)
29,862
(18,544)
275,753
(222,964)|**Movement**
**in funds**
**£**
41,471
11,318
52,789| |---|---|---| ## **14. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 30 August 2024. Page 12 **PADBURY PRE-SCHOOL** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 AUGUST 2024** **----- Start of picture text -----**
2024 2023
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 43,099 9,801
-
Other grants 1,000
44,099 9,801
Charitable activities
Fundraising events 64 611
Fee income and grants 140,420 80,280
140,484 80,891
Investment income
Other interest receivable 456 22
Total incoming resources 185,039 90,714
EXPENDITURE
Charitable activities
Wages 95,795 65,951
Pension 1,656 1,326
Consumables and resources 11,583 7,010
Rates and water 1,071 1,308
Computer and internet costs 394 450
Light and heat 554 2,159
Telephone 831 993
Postage and stationery 160 150
Service charge 450 600
Sundries 497 193
Depreciation of tangible fixed assets 4,241 4,547
117,232 84,687
Support costs
Other
Training 576 2,192
Membership fees 716 550
Repairs and maintenance 7,485 4,255
Insurance 1,268 1,112
Bank charges 490 275
10,535 8,384
Governance costs
Share of governance costs 13 13
Carried forward 13 13
**----- End of picture text -----**
This page does not form part of the statutory financial statements Page 13 **PADBURY PRE-SCHOOL** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 AUGUST 2024** **----- Start of picture text -----**
2024 2023
£ £
Governance costs
Brought forward 13 13
Accountancy and legal fees 750 1,350
763 1,363
Total resources expended 128,530 94,434
Net income/(expenditure) 56,509 (3,720)
**----- End of picture text -----**
This page does not form part of the statutory financial statements Page 14 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PADBURY PRE4CHOOL Indepondgnt •xamln•rf$ r•p¢rt to the trustees of Padbury Pre4chool compan￿ I report to the charity trustees on rny examination of Ihe accounts of the Company for th¢ year ¢nd•d 30 August 2024. Responsibilitios and basi$ of rgport As the charitys trust80s of the Company land also its directors for the purposes of company lawl are responsible for Ihe preparation of Iho accounts in accordance wth the rgquir&ments of th8 Companios Act 2006 I￿￿e 2006 Act'l. Hawng SatiS￿d myself that the accounts of the Company aro Tr)t requlred to be audlted under Part 16 of the 2006 Act and are eligiblo for independenl examinatNJn, I r9POrt in respecl of my examination of your Gharitys accounts as Carried out under Section 145 of the Charities Act 2011 Ilhe 2011 ACVI. In Garrying out my examination I have followed the DiroctKJns given by the Charity Commi88lon under Section 145(5) {b) of the 2011 ACL Independont examln•rf$ $tat•ment I have completed my examination. I confimi that no matters have come to my attention in Gonnoction with the examination giving mg Gause to believe: accounting records were not kept in respect of the C¢Jnpany as required by SeGtion 386 of the 20( the accourrt$ do not accord with those records; or the a¢￿UnIS do not comply w((h the accounting requlrements of SeGfjon 396 of the 2¢)06 Act other than any rgquiremenl that the accounts give a true and fair view whith Is not a matter consldered 8$ part of an independènt examination., or th& accounts have not been prepared in accordance wtth Ihe methods and prlnciples of th9 Statsment of Recommended Practice for accounting and reporting by Gharibes (applicable to charitios preparing their a¢¢ounts in accordance with the Financlal Reporting Stsndard appllcablè in thg UK and Republlc of Irelan¢J (FR8 1021). I hav& no concems and have come across no other matters In connection v4ith the examinatbn to whith attentlon shoLFld be drawn in this report in order lo enable a propèr understanding of the accounts to reached. Tom Foot FCA Ad Valorem A¢counlancy Semces Limited Chartered Certffled Accountants 2 Manor Fami Court Old Wolverton Road Old Wolverton Buckinghamshire MK12 5NN 13 Fobruary 2025 Pago 3