REGISTERED COMPANY NUMBER: 05885935 {England and Wales} REGISTERED CHARITY NUMBER.. 1142554 ort ofthe Trustees Unaudited Financial Slatsments for th Year Ended 31 Ju 2024 First Sle Pr hool Ll Stsnley Joseph Limited Chartered A¢Gountants Suite1 Liberty House South Llbety Lane Bristol BS3 2ST
First Sle Pre-schrx*l Ltd Contents of the Finanaal Statements for the Year Ended 31 Jul 2024 Pago Report of the Truskes Independent Examinels Report Stsl6menl of Financial Aetivilies Statement of Financial Posltk)n Notes to the Financial Statements 10 to 15 DetaId Statement of Financial Activities 16 10 17
First Ste Preknschool Ltd ort oflhe Trustees for the Year Ended 31 Jul 2024 The trustees who are also dire¢tors of the charity for Ihe purposes of the Companles Acl 2006, pr6senl their report with the financial statements of the charity for the year ended 31 July 2024, Thè tnJste8s have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recomtnended Practi appliLxble to charities preparing their accounls in accordance with the Financial Reportlng Standard epplicable in the UK and Republic of Ire18nd IFRS 1021 (effeciive 1 January 2019}. OBJECTEVES AND ACTIVITIES Principle actlvity and objects of the charity The principal activity and object of the company and charty, in the period under review, was lo dev&lop knOedge, understanding and curioslty of their envlronmenl for childrerj aged 2 years lo 4 yeaTS11 months. Public bÈnefit The Trustees have refeed to the gUIdan conlained in the Charity Commlsslon's general guldance on public benefit wh8n reviewing our aims and objectives and in planning our future acttvitiès. In particular. the TTuslees conslder how planned 8clivilles will wntribute lo the alms and objeclÈves they have set. First Step PTe-school has been offering 8arly Childhood edu&qtion and benefitting the community of Thombury for Ihe18sl thirty years. We welcome all chlldren in the local community from every background. Our aims are to provKIe'. al An environment which is fijll tsf cufh)sitywlhin a selbng b} To adhere lo and follow both the aims 8nd obleclives of otsled and the EYFS c} We will provide flexible sessions offering 2 year old, 30 hour and NEG funding d} We wll empLiy qualified staff who have a good knowledge of children's development e} We will supptrrt chlldren lo be school ready for Irdnsition Our work means we work closety with the loc81 primary schools. This work is of benefit to our children and to the schools themselves as well as thè wider communty. ACHIEVEMENT AND PERFORMANCE Achievements, performance and financlal r&vl8w ofthe chartty The Charfty has continued to PTovide pre4chool sessions for thildren from to fwe yeaTS old as outsined above. Th& Committe6 Members have conlinued to glve th8ir time to support the running of the pre4chool. T Directors would like lo thank everyone who gave iheir tiffle and supported the fundraising adivitses and ents carried out by ihe Charty in the year. Income totalled £219,18512023: £195,025) and the tDtal expenditure was £217,03612023= £188,075) resulting in a surplus of £2,14912023: £6,949 } for Ihe year. The finanrAal position al Ihe end of the year was such that the chaflty had sufficient liquid fvnds to cover its liabilities. The directors are ¢onfldent that the tharitywill continue to further achleve Its obl8ctiv89 in fulure years. Page 1
First Ste Pre4chool Ltd ort of the Truste for the Year Ended 31 Jul 2024 FINANCIAL REVIEW Resetves policy In line with guidance issued by the Charity Commission, Ihè Trustees have reviewed Ihe charrty's need for reserves. Rastrlcted Funds Money received through granis 01 specific fundr8islng are reslricled funds and c8n only legally be used for the Particular purpose oi project that the donor provided them for. Re51ri¢led funds Mll need lo be atcounled for separately lo ensure that they arè not accidenlly used for anolheT purtiose. Occasionally, there is a Ilme lag between the receipt of these funds and the related expendlture, thereby resulting In Pre-school holdirHJ the funds until payrnenl ts made. Unre5trlclèd Funds Funds received from other sources of Income (for example, yMentS foT childcarè places, oi general fundraisingl, will ggnerally be unrestricted fund5 and may be used as and when Tequired, as costs bacome due. From the unreslricled funds we have sel aside some money, called designated lunds for specific purposes outlined in th8 section below. Any iemaining Iijnds are our reserves or working capital, whh are freely available lo spend on any of the charlly's aclivilie5. Income levels vary during the year, bul expenditure levels remain relatively conslant throughout. Income 18 81 its lowest during the autumn lem rising during the spring to ils highest level in the summer lèrm, this is due lo the availability ol grant funding. Th& Truslees consider il prudent thal belweèn 2 ènd 3 months, adminislralion and support ctssts should be kept in reserve. This level will ensuie we have adequate resources lo cover our outgoings whilst income 15 al its lowest level during the autumn term and lo provide a surtable level of wo18clion against delayed or late paymenls. The Twstees will monitor and review this reseNe level with r8fÈrence lo Income forecasts and changes in funding on an annual basis lo ensure that il conlinue5 lo meel the needs of First Slep Pre-school Ltd. and that il is balanced with our respon5ibilily to spend our income on promoting our charitable objectW68. Designated funds are 8mounts specifically excludÈd from being used lo meet the day-lo-day iunning costs of the Pre-school. Designated Funds currently held: 1. General fundTaising'. these funds are spent al the di5crèlion of the trustees lo provide additional reSoUrS or pay for speGial ev8nls outside the normal running costs of the preschool. 2. Crossway5 sinking fund.. lo cover costs not borne by South Gloucestershire CounGil in provision of the leased Crossways building, oi to meet any costs associated with ne901121ing Crossways lease renl reviews. The establishment of this fund fomis part of thè leaBg agreement and is bul][ up by regular transfers from working c8pitsl until a ¢ap is reached as detèrmined by the lease agreement. 3. Designated funds ID include Redundary, Larger Maintenan, 3 rnth running c051s and New building Th8 Trusl8es will review this reserve level on an annual basis lo ensure that il continues to meet the needs of First Slep Pre-school Ltd and rnonilor spending al First Slep Pre-school corrtrnitt&& meetings. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its goveming documenL a deed of Irusl, and constitutes a IiTniled company, limited by guarantee, as dèfffted by the Companie5 Act 2006. Page 2
First Stè Pre4Chl Ltd the Trustees for the Year Ended 31 Jul 2024 REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 05885935 [Engrtd and Wales) Reglstered Charlty numbèr 1142554 Reglstered office Knapp Road Thombury Bristol S SLOS BS35 2HQ Trustsfrs Ms J Spence Chair Mr E Goodeve-Do¢kei Ms S Curtis (resigned 22.11.231 Mr A Cooper (resigned 10.7.24) Ms S Tumer Ms F Heller Ireslgned 27.9.23) Ms S Graham-Aldridge Mrs E Heining Iresigned 27.9.231 Ms J Tolan lappoinled 22.11.23) Ms H Antoniades lappoinled 22.11.23) Ms J Thomas (appointed 22.11.23) Independent ExamSThèr stanley Joseph Limited Chartered A¢countants Suit81 Libety House South Libety Lane Bristol BS3 2ST MANAGEMENT AND GOVERNANCE Trustees for the Charity, also Directors of the company, are elected each year at Ihè Annual General Meeling arKI a known as Ihe committee.. Candidatès are proposed and s8conded by the AGM attendees., election is by a show of hands or a writtèn votè. The committee meets about 6 Ilmes per year. Appffjved by order of fh& board of Iruslees ................-... - and signed on its behaw by.. Page 3
First Sle Pre-school Ltd Re ort of the Tfuslees for the Year Ended 31 Jul 2024 Mr E Goodav&Qocker- Trustee Page 4
Inde endent Ex8mineVs Re First ste Pre-school Ltd ortto th Truslees of Independènt oxamlnerfs roport to the trusteÈs of First Stsp PrchoOl Ltd Ilhe Company'l I report lo the charity Irustees on my exeminalion of the accounts of the Company for the year ended 31 July 2024. RÈsponslbllltiè$ and basis of report As Ihe charitys knstees of the Company land also its direGtors for the purposes of company18w) you are responsibb for the preparation of the accounts in accordance wlth the requiremenls of the Companies Act 2006 {'thg 2L106 Ad'l. Havlng satisfied mys81f that th8 accounts of the Company are not requiTed lo be audiled under Part 16 of the 2006 Act and 8re ellgible for independent examlnation. I report in respect of my examlnation of your charilvs account5 as carried out under Section 145 of the Charities Act 20111'lhè 2011 Act). In ¢arrying out rny examination I have followed the Diredons givgn by the Charity Commission under SeGIK)n 14515) Ibl of the 2011 Act. Page 5
Inde endenl Examinerfs Re First Ste Ps¢hOOl Ltd rt to the Trustees ol Independenl examinerfs statement I have completed my examination. I confimi that no matters have come lo my allenlion in connection wrfh the examination giving me cause lo believe- accounting cordS were not kepl in respect of the Company as required by Section 386 of the 2006 Act., or the accounts do not 8C(x)rd wiu) those rècords., or the aceA)unls do nol comply with the accounting requlrements of Seclion 396 of the 2006 Act othèr than any requirement that the accounts give a true and fair vSew which is not a matter considered as part of an Independènt examination., or thè accounts have not been PTepared in accordance with thè methods and principles ol the Slalemenl of Recomtllended Practice for accounting and reporting by charities (applicable to charities preparing thélr accounts in accordance with the Financi85 R8POrting Standard applicable in the UK and Republic of Ireland IFRS 1021}. I have no concems and havg come aGIos5 no oth8r matters in tonneclion with the examiftalion lo which attenlion should be drawn in this report in order lo enabl8 a PToper understanding of the accounts lo be reached. Philip Helps Stanley Joseph Limited Charteffjd Accountants Sulle 1 Liberty House Soufh Liberty Lane Bristol BS3 2ST Dale.. Page 6
tste Pre4chool Ltd ststemenl of Financial Adlvtbes for the Year End&d 31 Jul 2024 31.7,24 Total funds 31.7.23 Total funds Unrestricted Reslrieled funds fund Notes INCOME AND ENDOWMENTS FROM Charitable aclivitiès 215,504 215,504 193,904 Donations and lega¢io5 Investment income 2,810 871 2,810 871 770 350 TDtsI 219185 195024 EXPENDuRE ON Charilablo activltles Charitable aetivities 217.036 217,036 188,075 NET INCOME 2,149 2,149 6,949 RECONCILIATION OF FUNDS Total funds brought fowdrd 119,936 119,936 112,987 TOTAL FUNDS CARRIED FORWARD 122,085 122,085 119,936 The notes form part of these financrdl slalemenls Page 7
First Sle Pre-school Ltd Statement of Flnancial Position 31 Jul 2024 31.7.24 Total funds 31.7.23 Total funds Unrestricted Restricted funds fvnd Notss CURRENT ASSETS Debtors Cash al bank and In hand 5,563 128.177 5,563 128 177 124,832 133,740 133,740 124,832 CREDITORS Amounls falling due WJ)In one year 111,6551 111,6551 14,8961 NET CURRENT ASSETS 122085 122,085 119,936 TOTAL ASSETS LESS CURRENT LIABILITIES 122,085 122.085 119,936 NET ASSETS 122.085 122,085 119,936 FUNDS Unrestricted fund5 119936 TOTAL FUNDS 122,085 119,936 The charitable company is enlil]ed tr) exemption from audit under Section 477 of the Companies Act 26 for the year ended 31 July 2024. The members have not required the company lo obtain an audit ol its financial statements lor the year ended 31 July 2024 in accordance with Sèction 476 of the Companies Act 2006. The Irustees acknowledgè tlieir responslbililies for lal ensuring that the charilable company keeps accounting records that comply with Sedions 386 and 387 of the Companies Act 2006 an Ibl preparing financial statements which give a Irue anL% fair wew of th8 State of affairs of the charitab19 company as at the end of each financial year and of its surplus or deficil for each financlal year in acctsrdance with the requirements ol Sections 394 and 395 and which otherwise comply wrth the requifftmenls of the Companies Act 2006 relating lo financial slalements, so far as applicable lo the charitable company. The notes fom part ofthese financial slalern8nls Page 8 conllnued.,.
First Sl P hooi Ltd Stslement of Financial Posilkjn - conllnued 31 Jul 2024 These financlal statements have been prèpared In accordance wth the provlsions applicable to charitable companies suble¢t lo Ihe smam companies reglmè. The fi ststements were approved by the Board of Trustees and authortsed for Issue on . and were signed on its beh8W by.. Mr E Goodev8-Docker- Twslee The notes fomi part of these financial statements Page 9
First Sle Pre-school Ltd Notes lo th Financial Statements for the Year Ended 31 Jul 2024 ACCOUNTING POLICIES Basls of preparlng the financial statements The financial slaiemenls of the charitable company, which is a public benefit entity under FRS 102. have been prepared in accordance wilh the Charities SORP {FRS 1021 'AccokJnling and R&porting by Charities.. Slalem8nl of Recommended practi applicable lo charities preparing Iheir accounls in accordance with the Finanaal Reporting StandaTd applicable in the UK and Republic of Iieland IFRS 1021 (effective 1 January 20191,, Financial Reporting Standard 102 'Th6 Financial RepDrting Standard applicable in Ihe UK and Republic of Ireland, and the Companies Act 2006, The finaniual statements have begn prepared under the historical cost convention. Income All in¢ome is recognised in the SlatÈmenl of Financial Activilies once the charity has enlitlemenl lo Ihe funds, il is probable that the income will be received and the amount can be measured reliably, Expèndlture Liabilities are reojgnised as expenditure as soon as there is 8 legal or constructive obligation committing the charity lo that èxpendilure, it is probable Ihal a Iransler ol economic benefits will be required in selllement and (he amounl of the obligation can be measured reliably. Expenditure 15 accounted for on an acGYuals basis and has been classified under headings that aggregate all cost related lo the category. Where costs cannot be direcuy atlribuled to parb'cular headings they have been allocated to activities Dn a basis nSiSteI with Ihe use of sources. Taxatlon The charity is exempt from corporation lax on ils charitable activities. Fund accountlng UnreslriGl8d funds can be used in accordance with the Gharilable obiecllves al the discretK)n of the trustees. Reslricled funds can only be used for particular reslricled purposes wilhin the objects of the charity. Reslriclions arise when speCid by the donor Of when funds are raised for particular reslricled purposes. Further 8xplanation of the nature and purpose ol each fund is included in the Trusleos Report. Pension costs and other post-retiremènt benefits The charitable company operates a defined co)nlribution pension scheme. Contr1j110ns payable lo the charitable companvs pensk)n scheme a charged to the Stslement of Financial A¢llvilies in the period tr) which they relate, Impairment of assèts At each reportin9 dale fixed assels ar8 reviewed lo delerrnine whether there is any indication Ihat Ih05e assels have suffered an Impairment105s. If there Is an indicali of posslble Impairment, thè recoverable amount of any affecled 855el is estimated and compared with its carrying arnounl. If èslimaled recoverable amount is lower, the caTrying amount is reduced to its estimated recoverable amount, and an impairmenl loss Pagp 10 tontinued...
irst Ste Pre hool L Notes to the Financtal Slatsments- a)ntinue(I for thè Year Ended 31 Jul 2024 ACCOUNTING POLICIES. contlnued Impaimient of assets is recognised immediately in profit or loss. If an impairment loss subsequenuy reverses, the carry amount of the asset is Increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognlsed for the asset in prtor years. A reversal of an impairment loss Is recognised immedialety in profit or loss. DONATIONS AND LEGACIES 31.7.24 31.7,23 Fundraising events 2,810 770 INVESTMENT INCOME 31.7.24 31.7.23 Deposll account Interest 871 350 TRUSTEES, REMUNEPATIOM AND BENEFITS There were no truslees, remuneration or olher benefits for the yeaT ended 31 July 2024 norfor the year ended 31 Juty 2023. Trustees, èxpenses There We no trustees. èxpenses paid for the year ended 31 July 2024 nor for the year end&d 31 Juty 2023. STAFF COSTS The average monlhty number of employees during the curpnt was 11 {prioryear121. Thè average monthty number of employees during the year was as follows.. 31.7.24 11 31.7.23 12 Teaching and administrat(on No employees ieceived emoluments in excess of £60,000. Page 11 continued...
First Ste Pre-school Ltd Notes the Financial Slalemenls- continued for the Year Ended 31 Jul 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslricled Restricted funds fund Totsl lurids INCOME AND ENDOWMENTS FROM Chgrilable activities 193,904 193,904 Donations and legacies Investment income 770 350 770 350 Totsl 195024 195,024 EXPENDITURE ON Charitsble activltles Charitable aclivitles 188 075 188 075 NET INCOME 6,949 6,949 RECONCILIATION OF FUNDS Tot81 funds brought forward 112,987 112,987 TOTAL FUNDS CARRIED FORWARD 119,938 119.936 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.7.24 31.7.23 Other debtors 5,563 Page12 continued...
Fitst Ste Pr hool Ltd Notes to the Financlal Slatemenls- conlinued for the Year Ended 31 Jul 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.7.24 31.7.23 Trdde credito Accrued expenses MOVEMENT IN FUNDS Net movement in funds Transfgrs beiween fund5 At 31.7,24 At1.8.23 Uhrestricted funds Gen8ral fvnd Designated funds 61.315 {1.193) (4,500) 55,622 66,463 119936 122,085 TOTAL FUNDS 119,936 122,085 Net movement in fvnds, included in the above are as ftsllowE'. Incomlng resources Resources Mov8m&nt expended in funds Unrestrlcled funds General fund Designated funds 215,592 1216,785) 251 {1,193} 219,185 217,036 TOTAL FUNDS 219,185 217,38 2,149 Page 13 continued...
First Sle Pre4chool Ltd Notes lo Ihe Finan¢lal Statements - conllnued for the Year Ended 31 Jul 2024 MOVEMENT IN FUNDS- eontTnued Comparatives for movement In funds N&t movement in fLtnds Transfers been lunds At 31.7.23 Al1.8.22 Unrestrlcted funds Gen&ral fund Designated funds 43,388 69,599 11,029 4,080) 6,898 6,898 61,315 58,621 112987 6,949 119936 TOTAL FUNDS 112,987 6,949 119,936 Comparalwe net movement in funds, included in the above are as follow& Incoming reStsurS Resources expended Movement in funds Unrestrictsd fund8 General fund De5ignaled funds 193,904 1,120 1182,875} 11,029 195,024 188,075 6,949 TOTAL FUNDS 195,024 188,075 6,949 A ¢uirenl y88r12 months and prior year12 months cornbined position is as follows: Nel Transfers movement bèiween in funds funds Al 31.7.24 Al1.8.22 Unrestrlcted funds General fvnd Designated funds 43,388 69,599 9,836 2,398 55,622 66,463 112987 9.098 122,085 TOTAL FUNDS 112,987 9,098 122,085 Page 14 conts'nued...
First S Pte-scho l Ltd Notes to the Financial Stat&ments- continued for the Year Ended 31 Jul 2024 MOVEMENT IN FUNDS- eonllnued A current year 12 months and prior year 12 months Combined net movement in fvnds, includèd in the above are as follows.. Incoming resources Resources Movement expended in funds Unrestricted funds General fund Designated funds 409,496 4,713 (399,660) 5.451 9,836 738 414,209 405111 9,098 TOTAL FUNDS 414 209 405,1111 9.098 10. RELATED PARTY DISCLOSURES There were related party transactions for Ihe year ended 31 Juty 2024 or for the year ended 31 July 2023. Page15
First Sle Pr&school Ltd Detailed Statement of FinanThal Actiwties for the Year Ended 31 Jul 2024 31.7.24 31.7.23 INCOME AND ENDOWMENTS Charitable actlvlties Fees Grant fvndir Milk refund Other Income 25,029 190,D40 385 50 24,054 169,471 379 215,504 193,904 Donation5 and legacie5 Fundiaising events 2,810 770 Inveslment Income Deposit account interest 871 350 Totsl incomlng rèsources 219,185 195,024 EXPENDITURE Charitable activillès Wages Social security Pensions Insuranc Light and heat Telephone Slalionery & computer costs Sundries Milk Equipment and maleiiaLq Outings and Èvents Repairs and renewals Uniforms Accounlancy DBS checks Training Carried forward 176,421 6,162 2,887 1,281 4,230 750 3,145 1,519 385 5,623 980 4,309 197 924 288 2,235 211,336 145,326 4,762 2,638 3,283 4,090 1,391 1,605 1.867 379 4.357 180 11,727 429 852 94 1,121 184,101 Thi5 pag8 does nol form p8rt of the slalutr)ry financial slalemenls Page16
First Ste Pre-sch l Ltd Detailed Statement of Finan l Activities for the Year Ended 31 Jul 2024 31.7.24 31.7.23 Charltablp acflvltte$ Brought forward Fundraising costs Rent and CTK lease Crossways rent Subscripllons Commlllee expenses Rates Legal & prrifessional fees EYPP Funding expenditure 211,336 71 184,101 20 350 2,500 272 95 737 2,500 109 673 1,052 1,295 217,036 188075 Total resources expended 188.075 Net income Thi5 page does not form part of the stslulory financial statements Page17