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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 07295944 REGISTERED CHARITY NUMBER: 1141729

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

LITTLE RAINDROPS

Hackett Griffey LLP Chartered Certified Accountants 31 High Street Haverhill Suffolk CB9 8AD

LITTLE RAINDROPS

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Page
Reference and Administrative Details 1
Report of the Trustees 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Statement of Financial Position 5 to 6
Notes to the Financial Statements 7 to 11
Detailed Statement of Financial Activities 12 to 13

LITTLE RAINDROPS

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES D E Rogers
J Davey
N Joyce
COMPANY SECRETARY Mrs E Goldsmith
REGISTERED OFFICE Chapple Drive
Haverhill
Suffolk
CB9 0DU
REGISTERED COMPANY 07295944
NUMBER
REGISTERED CHARITY 1141729
NUMBER
INDEPENDENT EXAMINER Hackett Griffey LLP
Chartered Certified Accountants
31 High Street
Haverhill
Suffolk
CB9 8AD

Page 1

LITTLE RAINDROPS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

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 March 2021. 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 charity's objective is to enhance the development and education of children primarily under statutory school age for the benefit of the community.

Public benefit

The charity constitutes a a public benefit entity as defined by FRS102.

The trustees have complied with the duty in Section 4 of the 2006 Charities Act with regard to the public benefit requirement.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The charitable activity of the company is the operation of a pre school in accordance with the objective.

FINANCIAL REVIEW

Principal funding sources

The principal funding sources for the charity are by way of fees rendered and local authority grants.

Reserves policy

The funds of the charity are applied in furtherance of it's objectives and aims. It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level to provide sufficient funds to cover temporary timing differences in grant claims and to cover moderate shortfalls.

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 directors of the company are also charity trustees for the purposes of charity law. The recruitment and appointment of new trustees are in accordance with the constitution of the charity and re-elected at the Annual General Meeting.

Covid 19

The trustees have considered the impact of Covid -19 on the Charity. They have concluded that the measures and safeguards the Charity has implemented including the grant funding has helped minimise the risks and uncertainties facing the Charity and the sector in general.

Approved by order of the board of trustees on 23 September 2021 and signed on its behalf by:

Mrs E Goldsmith - Secretary

Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LITTLE RAINDROPS

Independent examiner's report to the trustees of Little Raindrops ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

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.

Jonathan Griffey FCCA CTA Hackett Griffey LLP Chartered Certified Accountants 31 High Street Haverhill Suffolk CB9 8AD

6 October 2021

Page 3

LITTLE RAINDROPS

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Charitable activities
Local authority grants
99,987
Fees
33,938
Other grants
-
Other trading activities
2
347
Investment income
3
34
Other income
14,000
Total
148,306
EXPENDITURE ON
Charitable activities
Operation costs of pre-school
153,340
NET INCOME/(EXPENDITURE)
(5,034)
RECONCILIATION OF FUNDS
Total funds brought forward
140,340
TOTAL FUNDS CARRIED FORWARD
135,306		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-		 2021
Total
funds
£
99,987
33,938
-
347
34
14,000
148,306
153,340
(5,034)
140,340
135,306		 2020
Total
funds
£
103,990
47,451
4,000
1,513
83
3,000
160,037
160,376
(339)
140,679
140,340

The notes form part of these financial statements

Page 4

LITTLE RAINDROPS

STATEMENT OF FINANCIAL POSITION 31 MARCH 2021

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
7
13,512
CURRENT ASSETS
Debtors
8
464
Cash at bank and in hand
125,299
125,763
CREDITORS
Amounts falling due within one year
9
(3,969)
NET CURRENT ASSETS
121,794
TOTAL ASSETS LESS CURRENT
LIABILITIES
135,306
NET ASSETS
135,306
FUNDS
10
Unrestricted funds
TOTAL FUNDS		 Restricted
funds
£
-
-
-
-
-
-
-
-		 2021
Total
funds
£
13,512
464
125,299
125,763
(3,969)
121,794
135,306
135,306
135,306
135,306		 2020
Total
funds
£
11,887
1,054
131,545
132,599
(4,146)
128,453
140,340
140,340
140,340
140,340

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 5

LITTLE RAINDROPS

STATEMENT OF FINANCIAL POSITION - continued 31 MARCH 2021

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 23 September 2021 and were signed on its behalf by:

D E Rogers - Trustee

N Joyce - Trustee

J Davey - Trustee

The notes form part of these financial statements

Page 6

LITTLE RAINDROPS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

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.

Fixtures and fittings - 10% on reducing balance

The policy of the charity is to capitalise fixed asset expenditure greater than £500.

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

LITTLE RAINDROPS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

2. OTHER TRADING ACTIVITIES

2. OTHER TRADING ACTIVITIES
2021 2020
£ £
Fundraising events 347 889
Miscellaneous income - 624
347 1,513
3. INVESTMENT INCOME
2021 2020
£ £
Deposit account interest 34 83
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2021 2020
£ £
Depreciation - owned assets 1,501 1,158

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

6. STAFF COSTS

The average monthly number of employees during the year was as follows:

2021 2020
Childcare & administration 8 8

No employees received emoluments in excess of £60,000.

Page 8

LITTLE RAINDROPS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

7. TANGIBLE FIXED ASSETS

COST
At 1 April 2020
Additions
At 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for year
At 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020
8.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments
9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accruals and deferred income
10.
MOVEMENT IN FUNDS
At 1.4.20
£
Unrestricted funds
General fund
140,340
TOTAL FUNDS
140,340		 2021
£
-
464
464
2021
£
-
3,969
3,969
Net
movement
in funds
£
(5,034)
(5,034)		 Fixtures
and
fittings
£
24,656
3,126
27,782
12,769
1,501
14,270
13,512
11,887
2020
£
62
992
1,054
2020
£
1,470
2,676
4,146
At
31.3.21
£
135,306		 Fixtures
and
fittings
£
24,656
3,126		 Fixtures
and
fittings
£
24,656
3,126
27,782
12,769
1,501
14,270
13,512
11,887
2020
£
62
992
1,054
2020
£
1,470
2,676
4,146
135,306

Page 9

LITTLE RAINDROPS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

10. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
148,306
148,306		 Resources
Movement
expended
in funds
£
£
(153,340)
(5,034)
(153,340)
(5,034)		 Resources
Movement
expended
in funds
£
£
(153,340)
(5,034)
(153,340)
(5,034)
(5,034)

Comparatives for movement in funds

At 1.4.19
£
Unrestricted funds
General fund
140,679
TOTAL FUNDS
140,679
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
160,037
TOTAL FUNDS
160,037		 Net
movement
At
in funds
31.3.20
£
£
(339)
140,340
(339)
140,340
Resources
Movement
expended
in funds
£
£
(160,376)
(339)
(160,376)
(339)		 At
31.3.20
£
140,340
140,340
(339)

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.4.19
£
140,679
140,679		 Net
movement
in funds
£
(5,373)
(5,373)		 At
31.3.21
£
135,306
135,306

Page 10

LITTLE RAINDROPS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

10. MOVEMENT IN FUNDS - continued

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
£
308,343
308,343		 Resources
Movement
expended
in funds
£
£
(313,716)
(5,373)
(313,716)
(5,373)

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2021.

Page 11

LITTLE RAINDROPS

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

INCOME AND ENDOWMENTS
Other trading activities
Fundraising events
Miscellaneous income
Investment income
Deposit account interest
Charitable activities
Fees
Grants
Other income
Employment Allowance
West Suffolk Council Covid 19 Business Grant
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Social security
Pensions
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Sundries
Trips, prizes & gifts
Consumables
Equipment purchases
Food & Snacks
Repairs & maintenance
Subscriptions & training
Fixtures and fittings
Support costs
Finance
Bank charges		 2021
£
347
-
347
34
33,938
99,987
133,925
4,000
10,000
14,000
148,306
122,724
8,021
3,666
903
1,779
1,366
267
640
1,042
138
2,058
1,849
2,117
1,969
1,260
1,501
151,300
60		 2020
£
889
624
1,513
83
47,451
107,990
155,441
3,000
-
3,000
160,037
124,840
7,946
3,706
1,842
1,770
1,387
323
1,171
1,110
634
1,943
4,652
2,822
1,599
1,473
1,158
158,376
80

This page does not form part of the statutory financial statements

Page 12

LITTLE RAINDROPS

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Finance
Governance costs
Accountancy fees
Total resources expended
Net expenditure		 2021
£
1,980
153,340
(5,034)		 2020
£
1,920
160,376
(339)

This page does not form part of the statutory financial statements

Page 13