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2023-07-31-accounts

Registered number 07512922 Charity number 1141697

Twiggs Lane Pre-School A company limited by guarantee Report and Unaudited Accounts

31 July 2023

Twiggs Lane Pre-School Report and accounts Contents

Page
Company information 1
Trustees' report 2
Independent Examiners report 3
Statement of financial activities 4
Balance sheet 5
Notes to the accounts 6

Twiggs Lane Pre-School Company Information

Directors

H Broomfield (resigned 6 January 2023) K Plant (resigned 21 July 2022) H Gray K J Harkins (resigned 21 July 2022) D Copland L Wheeler (resigned 21 July 2022) J Armour-Smith (resigned 21 July 2022) R E Copland (appointed 21 July 2022) R Wilton (appointed 21 July 2023) J Ramirez-Vidal (appointed 21 July 2023, resigned 29 February 2024) R V Young (appointed 21 July 2022, resigned 21 July 2023)

Accountants

Cochrane & Co Accountants Ltd 38 Kings Road Lee-on-the-Solent PO13 9NU

Registered office

Marchwood Infant School Twiggs Lane Southampton SO40 4ZE

Registered number 07512922

1

Twiggs Lane Pre-School Registered number: 07512922 Trustees' Report

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 the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities (FRS 102)'.

Trustees

The following persons served as directors during the year:

D Copland J Ramirez-Vidal R Wilton R Copland H Gray

Further trustee;

C Wright

Governing document

The charity is a limited company, limited by guarantee, and is controlled by its Memorandum and Articles of Association.

Recruitment and apppointment of new trustees

Where a vacancy arises, trustees are recruited from parents of children being educated by the pre-school at that time. They are elected by existing trustees.

Related parties

There are no related parties.

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.

Objectives and aims

Activities

The principal activity is to provide pre-school education based on the practice guidance for the Early Learning Years Foundation, which is divided into seven prime areas;

2

Twiggs Lane Pre-School Registered number: 07512922 Trustees' Report

Achievements

A good year for Twiggs Lane Preschool in terms of attendance. We were almost at full capacity baring a few sessions and have had some mini fundraising projects Christmas craft afternoon and a sponsored scavenger hunt.

Our reserve funds have been depleted due to increased costs such as the large rise in National Minimum wage, and we found ourselves being forced to introduce a consumable charge in February 2023. This charge is now being invoiced to parents for each government funded hour we receive for a child's attendance. An unfortunate but necessary addition to simply keep the pre-school open.

Reserves policy

The intention of the pre-school is to have a contingency sum set aside should the pre-school close unexpectantly. This sum would cover staff salaries, supplier payments and refund of school fees to parents if appropriate.

Principal funding sources

The principal sources of funds are generated by receipt of government funding for children over the age of 3 years and by billing for pre-school fees for children below the age of 3 years.

Small company provisions

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on and signed on its behalf.

D Copland Trustee/director

3

Twiggs Lane Pre-School

Independent examiner's report to the trustees of Twiggs Lane Pre-School on the accounts for the year ended 31 July 2023

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 July 2023, which are set out on pages 5 to 9.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed applicable Directions given by the charity Commission under section 145(5)(b) of the Act.

Independent Examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the charities (Accounts and Reports) Regulations 2008 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.

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.

Cochrane & Co Accountants Ltd Relevant professional qualification or body: ICAEW 38 Kings Road Lee-on-the-Solent PO13 9NU

4

Twiggs Lane Pre-School

Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 July 2023

Detail provided in the income and expenditure account

2023
£
Unrestricted
funds
£
Incoming resources from generated funds
Grants and other income
126,906
Total incoming resources
126,906
Resources expended
Total resources expended
(137,732)
Net (outgoing)/ incoming resources
(10,826)
Interest receivable
40
Net movement on funds
(10,786)		 2023
£
Total
Funds
£
126,906
126,906
(137,732)
(10,826)
40
(10,786)		 As restated
2022
£
Unrestricted
funds
£
133,739
133,739
(141,696)
(7,957)
11
(7,946)		 As restated
2022
£
Total
Funds
£
133,739
133,739
(141,696)
(7,957)
11
(7,946)

5

Twiggs Lane Pre-School Registered number: 07512922 Balance Sheet as at 31 July 2023

Notes
Fixed assets
Tangible assets
4
Current assets
Debtors
5
Cash at bank and in hand
Creditors: amounts falling due
within one year
6
Net current assets
Net assets
Capital and reserves
Unrestricted funds
7
Total funds		 2023
£
13,069
526
29,262
29,788
(1,668)
28,120
41,189
41,189
41,189		 2022
£
As restated
15,565
443
37,655
38,098
(1,688)
36,410
51,975
51,975
51,975

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime.

D Copland Director Approved by the board on ______

6

Twiggs Lane Pre-School Notes to the Accounts for the year ended 31 July 2023

1 Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities (FRS 102).

Company status

The charity is a company limited by guarantee. The members of the company are the trustees named in the trustees report. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The charity is a public benefit entity.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Investment income is allocated to the approriate fund.

Incoming resources

All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Goverment grants are received to fund the pre-school objectives.

Resources expended

All expenditure is accounted for on an accruals basis.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

7

Twiggs Lane Pre-School Notes to the Accounts for the year ended 31 July 2023

2
Net incoming expenses
This is stated after charging:
Independent examiner's fees
3
Employees
Average number of persons employed by the company
4
Tangible fixed assets
Land and
buildings
£
Cost
At 1 August 2022
16,900
At 31 July 2023
16,900
Depreciation
At 1 August 2022
3,096
Charge for the year
1,690
At 31 July 2023
4,786
Net book value
At 31 July 2023
12,114
At 31 July 2022
13,804
5
Debtors
Owed from payment plans
6
Creditors: amounts falling due within one year
Other creditors
7
Unrestricted funds
At 1 August 2022
Net movement on funds
At 31 July 2023		 2023
£
900
2023
Number
11
Plant and
machinery
etc
£
3,225
3,225
1,464
806
2,270
955
1,761
2023
£
526
2023
£
1,668
2023
£
51,975
(10,786)
41,189		 2022
£
750
2022
Number
11
Total
£
20,125
20,125
4,560
2,496
7,056
13,069
15,565
2022
£
443
2022
£
1,688

8

Twiggs Lane Pre-School Notes to the Accounts for the year ended 31 July 2023

8
Employee emoluments and trustee remuneration
Wages and salaries		 2023
£
110,509
110,509		 2022
£
108,066
108,066

No employee earned over £60,000. There are, on average, eleven (eleven 2022) staff members. The trustees neither received nor waived any emoluments during 2023, other than in their role as employees of the Pre-School. No expenses were paid to trustees other than the reimbursement of expenses incurred on behalf of the preschool totalling £0 (2022 £0).

9 Presentation currency

The accounts are presented in Sterling.

10 Ultimate controlling party

The company is controlled by the directors who are also the trustees.

11 Other information

Twiggs Lane Pre-School is a private company limited by shares and incorporated in England. Its registered office is:

Marchwood Infant School Twiggs Lane Southampton SO40 4ZE

9

Twiggs Lane Pre-School Detailed income and expenditure account for the year ended 31 July 2023

Incoming resources
Voluntary income
Donations
UK government grants
Activities for generating funds
Fees
Fund raising
T shirts/bags
Total resources expended
Equipment
Fund raising expense
Refreshment
Professional fees
Storage
Party/outings
Depreciation
General office admin
Cleaning supplies
Sundries
Bank charges
Resources
Hire of room
Salaries, PAYE/NIC
Software and subscriptions
Pensions
Travel
Training and staff costs
Insurance
T shirts/book bags		 2023
£
1,165
94,581
95,746
30,345
870
(55)
31,160
1,324
176
1,137
3,648
301
223
2,496
2,933
167
548
131
2,187
6,271
110,509
2,246
1,522
17
612
1,221
63
137,732

10