REGISTERED COMPANY NUMBER: 07437961 (England and Wales) REGISTERED CHARITY NUMBER: 1139828
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 July 2023
for
The Chesterfords Community Preschool
Lanham and Company Limited Chartered Accountants
9 Great Chesterford Court London Road Great Chesterford Essex CB10 1PF
The Chesterfords Community Preschool
Contents of the Financial Statements for the Year Ended 31 July 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 13 |
The Chesterfords Community Preschool (Registered number: 07437961)
Report of the Trustees for the Year Ended 31 July 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 July 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
To enhance the development and education of children primarily under statutory school age by encouraging parents, grandparents and carers to understand and provide for the needs of their children through community groups and by offering appropriate play, education and care facilities and training courses, together with the right of parents, grandparents and carers to take responsibility for and to become involved in the activities of such groups, ensuring that such groups offer opportunities for all children whatever their race, culture, religion, means or ability; encouraging the study of the needs of such children and their families and promoting public interest in and recognition of such needs; and instigating and adhering to and furthering the aims and objects of the Pre-School Learning Alliance.
Activities
The Chesterfords Community Preschool provided throughout the year and continues to provide an affordable and accessible high quality pre-school for children aged two to five in a safe and supportive environment, encouraging the development of each child so that they may become secure and confident outside their home environment.
Public benefit
The trustees have considered the public benefit provided by The Chesterfords Community Preschool, having regard to the Charity Commission's guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
This year, along with many organisations across the nation, we felt the impact of the cost-of-living crisis. The day-to-day costs of running the Preschool increased unexpectedly, and as such the Committee ramped up their efforts with grant applications and fundraising events to supplement the preschool's income.
We started with a glitter bar at the Steam Up event in the village in September. Christmas quickly came around the corner, and we held our annual Christmas tree and wreath sale. As per previous years, this was well supported by the whole village and surrounding communities. In April, we organised a football fundraising match with the aid of Saffron Walden Football Club, which was well attended and provided some great entertainment. The Committee held a raffle with kind donations from local businesses.
We continued the "Rising 5 Wednesdays" sessions for those children beginning primary school the following September. We also started to send home reading books with those children, to mirror the reading activities at Reception class and help them to prepare for the transition to school. This has been greatly received by the children and parents.
This year, we were able to make some long-awaited improvements to our nature space and finally replace the willow den with a shaded structure to provide shelter from the elements. This will enable the staff and children to utilise the nature space during the cooler and warmer months. During the year, we were gratefully awarded grants from the Saffron Walden Rotary Club and Essex Community Foundation.
FINANCIAL REVIEW
Principal funding sources
The principal funding sources are Funded Early Educational Entitlement funding from Essex and Cambridgeshire Local Authorities which are available to fund the first fifteen hours of pre-school education beginning in the term immediately following a child's third birthday and fees charged for children for hours attended in excess of those covered by entitlement funding and for children who are younger than the age range covered by grant funding.
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The Chesterfords Community Preschool (Registered number: 07437961)
Report of the Trustees for the Year Ended 31 July 2023
FINANCIAL REVIEW Reserves policy
The policy is to maintain typically at least three months' running costs.
In addition, the Pre-School Learning Alliance recommends the Pre-School needs to keep funds for staff redundancy payments as a contingency for the unlikely event of curtailment of the Pre-School's activities. The Chesterfords Community Preschool holds a precautionary earmarked fund (within unrestricted funds) for staff redundancy payments.
The Management Committee fully expects the Preschool to continue to operate as it does now for the foreseeable future and so have prepared these financial statements on a going concern basis.
Liquid funds
The charitable company maintains its reserves in cash to manage fluctuations in funds and to maintain flexibility in case of unforeseen events.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a company limited by guarantee without share capital and is governed according to its memorandum of association dated 1 November 2010 by a management committee which has overall control and responsibility for policy and major decisions.
Recruitment and appointment of members of the Management Committee
Members of the Management Committee are elected annually by a vote of members.
Risk management
The members of the Management Committee have a duty to identify and review the risks to which the charitable company is exposed and ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07437961 (England and Wales)
Registered Charity number
1139828
Registered office
9 Great Chesterford Court London Road Great Chesterford Essex CB10 1PF
Trustees
Mrs L Oakshott (resigned 13.3.23) Mrs C E Ward (resigned 19.6.23) Mrs A M Stringer (resigned 19.6.23) Mrs R S Gale (resigned 5.7.23) Mrs E E Sharp (resigned 19.6.23) Ms E Halksworth Mrs J Rodriguez (resigned 25.1.24) Mrs A Dixon Mr R I Boswell (resigned 19.6.23) Mr E G Palferman Mrs R A Al-Hassani (appointed 24.11.22) Mrs P Britton (appointed 19.6.23) Miss C Higgins (appointed 19.6.23) Mrs J A Thompson (appointed 19.6.23)
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The Chesterfords Community Preschool (Registered number: 07437961)
Report of the Trustees for the Year Ended 31 July 2023
REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary
Mrs P Britton
Independent Examiner
Lanham and Company Limited Chartered Accountants 9 Great Chesterford Court London Road Great Chesterford Essex CB10 1PF
Principal address
Chesterfords Community Centre Newmarket Road Great Chesterford Essex CB10 1NA
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 3 April 2024 and signed on its behalf by:
Mrs A Dixon - Trustee
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Independent Examiner's Report to the Trustees of The Chesterfords Community Preschool
Independent examiner's report to the trustees of The Chesterfords Community Preschool ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
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.
Andrew Ireland FCCA
Lanham and Company Limited Chartered Accountants 9 Great Chesterford Court London Road Great Chesterford Essex CB10 1PF
3 April 2024
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The Chesterfords Community Preschool
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 July 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 64,800 Charitable activities 5 Charitable activities 43,206 Other trading activities 3 13,341 Investment income 4 184 Total 121,531 EXPENDITURE ON Raising funds 6 3,421 Charitable activities 7 Charitable activities 124,562 Total 127,983 NET INCOME/(EXPENDITURE) (6,452) RECONCILIATION OF FUNDS Total funds brought forward 35,078 TOTAL FUNDS CARRIED FORWARD 28,626 |
Restricted funds £ - - - - - - 909 909 (909) 909 - |
31.7.23 Total funds £ 64,800 43,206 13,341 184 121,531 3,421 125,471 128,892 (7,361) 35,987 28,626 |
31.7.22 Total funds £ 67,697 31,475 8,306 5 107,483 4,772 109,846 114,618 (7,135) 43,122 35,987 |
|---|---|---|---|
The notes form part of these financial statements
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The Chesterfords Community Preschool (Registered number: 07437961)
Balance Sheet 31 July 2023
| 31.7.23 | 31.7.22 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 12 | 1,165 | - | 1,165 | 909 |
| CURRENT ASSETS | |||||
| Debtors | 13 | 955 | - | 955 | 2,421 |
| Cash at bank and in hand | 34,364 | - | 34,364 | 39,251 | |
| 35,319 | - | 35,319 | 41,672 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 14 | (7,858) | - | (7,858) | (6,594) |
| NET CURRENT ASSETS | 27,461 | - | 27,461 | 35,078 | |
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 28,626 | - | 28,626 | 35,987 | |
| NET ASSETS | 28,626 | - | 28,626 | 35,987 | |
| FUNDS | 15 | ||||
| Unrestricted funds | 28,626 | 35,078 | |||
| Restricted funds | - | 909 | |||
| TOTAL FUNDS | 28,626 | 35,987 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 3 April 2024 and were signed on its behalf by:
Mrs A Dixon - Trustee
The notes form part of these financial statements
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The Chesterfords Community Preschool
Notes to the Financial Statements for the Year Ended 31 July 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.
Going Concern
The charitable company is fully expected to continue to operate at a similar level for the foreseeable future and as a result the financial statements are prepared on a going concern basis.
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. Revenue is measured at the fair value of the consideration received or receivable.
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.
Plant and machinery - 10% on cost
Tangible fixed assets costing more than £1,000 are capitalised and included at cost including any incidental expenses of acquisition.
Taxation
The charitable company is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds are available for use at the discretion of the Management Committee in furtherance of the general objectives of the charitable company. Designated funds are unrestricted funds that the Management Committee have earmarked for a particular purpose.
Restricted funds are subject to restrictions on their expenditure through specific conditions of grants received of when funds are raised for particular 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.
Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.
Trade debtors and creditors are classed as basic financial instruments and are initially measured at transaction price.
continued...
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The Chesterfords Community Preschool
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
1. ACCOUNTING POLICIES - continued
Financial instruments
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and short-term deposits with an original maturity date of three months or less.
| 2. | DONATIONS AND LEGACIES | |||
|---|---|---|---|---|
| 31.7.23 | 31.7.22 | |||
| £ | £ | |||
| Funded early educational entitlement funding | 64,800 | 67,697 | ||
| 3. | OTHER TRADING ACTIVITIES | |||
| 31.7.23 | 31.7.22 | |||
| £ | £ | |||
| Fundraising events | 13,341 | 8,306 | ||
| 4. | INVESTMENT INCOME | |||
| 31.7.23 | 31.7.22 | |||
| £ | £ | |||
| Deposit account interest | 184 | 5 | ||
| 5. | INCOME FROM CHARITABLE ACTIVITIES | |||
| 31.7.23 | 31.7.22 | |||
| Charitable | Total | |||
| activities | activities | |||
| £ | £ | |||
| Fees | 43,206 | 31,475 | ||
| 6. | RAISING FUNDS | |||
| Other trading activities | ||||
| 31.7.23 | 31.7.22 | |||
| £ | £ | |||
| Bad debts | - | 289 | ||
| Fundraising activity costs | 3,265 | 4,229 | ||
| Event costs | 156 | 254 | ||
| 3,421 | 4,772 |
continued...
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The Chesterfords Community Preschool
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
7. CHARITABLE ACTIVITIES COSTS
| Charitable activities NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
Direct Costs £ 123,157 |
Support costs £ 2,314 31.7.23 £ 1,039 |
Totals £ 125,471 |
|---|---|---|---|
| 31.7.22 £ 908 |
8. NET INCOME/(EXPENDITURE)
The independent examiners remuneration amounts to an independent examination fee of £350 (2022: £330) and fees for the assistance with the accounts preparation, completion of the corporation tax return CT600, and company secretarial of £1,025 (2022: £795).
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022.
Trustees' expenses
During the year 4 trustees (2022: one trustee) received reimbursement totalling £441 (2022: £738) for expenses incurred.
10. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Part time employees No employees received emoluments in excess of £60,000. 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 67,697 Charitable activities Charitable activities 31,475 Other trading activities 8,306 Investment income 5 Total 107,483 EXPENDITURE ON Raising funds 4,772 Charitable activities Charitable activities 108,938 |
31.7.23 9 Restricted funds £ - - - - - - 908 |
31.7.22 9 Total funds £ 67,697 31,475 8,306 5 |
|---|---|---|
| 107,483 | ||
| 4,772 109,846 |
continued...
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The Chesterfords Community Preschool
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
| 11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||||
| fund | funds | funds | ||||
| £ | £ | £ | ||||
| Total | 113,710 | 908 | 114,618 | |||
| NET INCOME/(EXPENDITURE) | (6,227) | (908) | (7,135) | |||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | 41,305 | 1,817 | 43,122 | |||
| TOTAL FUNDS CARRIED FORWARD | 35,078 | 909 | 35,987 | |||
| 12. | TANGIBLE FIXED ASSETS | |||||
| Plant and | ||||||
| machinery | ||||||
| £ | ||||||
| COST | ||||||
| At 1 August 2022 | 9,084 | |||||
| Additions | 1,295 | |||||
| At 31 July 2023 | 10,379 | |||||
| DEPRECIATION | ||||||
| At 1 August 2022 | 8,175 | |||||
| Charge for year | 1,039 | |||||
| At 31 July 2023 | 9,214 | |||||
| NET BOOK VALUE | ||||||
| At 31 July 2023 | 1,165 | |||||
| At 31 July 2022 | 909 | |||||
| 13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 31.7.23 | 31.7.22 | |||||
| £ | £ | |||||
| Trade debtors | 614 | 588 | ||||
| Other debtors | 341 | 1,721 | ||||
| Prepayments | - | 112 | ||||
| 955 | 2,421 |
continued...
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The Chesterfords Community Preschool
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.7.23 | 31.7.22 | ||
|---|---|---|---|
| £ | £ | ||
| Social security and other taxes | 193 | - | |
| Other creditors | - | 296 | |
| Accrued expenses | 7,665 | 6,298 | |
| 7,858 | 6,594 | ||
| 15. | MOVEMENT IN FUNDS |
| Unrestricted funds General fund Restricted funds Allotment fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Allotment fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Allotment fund TOTAL FUNDS |
At 1.8.22 £ 35,078 909 35,987 Incoming resources £ 121,531 - 121,531 At 1.8.21 £ 41,305 1,817 43,122 |
Net movement At in funds 31.7.23 £ £ (6,452) 28,626 (909) - (7,361) 28,626 Resources Movement expended in funds £ £ (127,983) (6,452) (909) (909) (128,892) (7,361) Net movement At in funds 31.7.22 £ £ (6,227) 35,078 (908) 909 (7,135) 35,987 |
Net movement At in funds 31.7.23 £ £ (6,452) 28,626 (909) - (7,361) 28,626 Resources Movement expended in funds £ £ (127,983) (6,452) (909) (909) (128,892) (7,361) Net movement At in funds 31.7.22 £ £ (6,227) 35,078 (908) 909 (7,135) 35,987 |
Net movement At in funds 31.7.23 £ £ (6,452) 28,626 (909) - (7,361) 28,626 Resources Movement expended in funds £ £ (127,983) (6,452) (909) (909) (128,892) (7,361) Net movement At in funds 31.7.22 £ £ (6,227) 35,078 (908) 909 (7,135) 35,987 |
|---|---|---|---|---|
| (7,361) | ||||
| At 31.7.22 £ 35,078 909 35,987 |
||||
| 35,987 |
continued...
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The Chesterfords Community Preschool
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
15. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Allotment fund TOTAL FUNDS |
Incoming resources £ 107,483 - 107,483 |
Resources Movement expended in funds £ £ (113,710) (6,227) (908) (908) (114,618) (7,135) |
Resources Movement expended in funds £ £ (113,710) (6,227) (908) (908) (114,618) (7,135) |
|---|---|---|---|
| (7,135) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.8.21 | in funds | 31.7.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 41,305 | (12,679) | 28,626 |
| Restricted funds | |||
| Allotment fund | 1,817 | (1,817) | - |
| TOTAL FUNDS | 43,122 | (14,496) | 28,626 |
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 Restricted funds Allotment fund TOTAL FUNDS |
Incoming resources £ 229,014 - 229,014 |
Resources Movement expended in funds £ £ (241,693) (12,679) (1,817) (1,817) (243,510) (14,496) |
Resources Movement expended in funds £ £ (241,693) (12,679) (1,817) (1,817) (243,510) (14,496) |
|---|---|---|---|
| (14,496) |
Purposes of General Funds
The general fund represents the free funds of the charity which are not designated for particular purposes.
Restricted funds:
Allotment fund
This fund was established to account for the development of an outdoor classroom space for play, exploring nature and learning for children and families.
continued...
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The Chesterfords Community Preschool
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
15. MOVEMENT IN FUNDS - continued
The majority of the grants received to this fund have been spent on capital items, the balance of the fund will be reduced as the assets are depreciated across the next five years.
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2023.
17. LIABILITY OF MEMBERS
The charity is limited by guarantee. In the event of the charity being wound up, the liability of the members, whilst he or she remains a member of within one year after they cease to be a member, is limited to £1 each.
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