Registered Company No. 07598405 Registered Charity No. 1143489
## **ETON PRE-SCHOOL**
## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2023**
**ETON PRE-SCHOOL LEGAL AND ADMINISTRATIVE INFORMATION**
___________________________________________________________________________________
Charity name Eton Pre-School Registered charity number 1143489 Registered company number 07598405 High Street Eton Berks SL4 6AR Trustees A Moston C Shearman M Wernham A Yuravlivker (resigned 20 September 2023) C Cope C Markham (appointed 5 May 2023) Secretary S Clifford Independent Examiner Stephen Meredith FCA, DChA Alliotts LLP Friary Court 13-21 High Street Guildford GU1 3DL
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## **ETON PRE-SCHOOL**
## **___________________________________________________________________________________**
r the year ended 31 August
2023.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts 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 .
## **Structure, governance and management**
Eton Pre-School is a committee run pre-school in the private and voluntary sector. It was originally set up to provide a service for Eton College but has been a community prewas incorporated as a company on 11 April 2011 and took over the charity, Jacks Eton Playgroup. The company registered as a charity which aims to offer affordable education and care for children aged three to five years.
## **Objectives and activities**
o enhance the development and education of children under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups.
## **Achievements and financial performance**
The Pre-School continues to run in accordance with the legal ratios for ages of the children. Successful recruitment of a member of staff has meant that we are able to increase numbers to capacity and support the diverse ability range within our care.
## Financial overview
Eton Action Fair was cancelled at the last minute due to the passing of the Queen. It was postponed to March. We ran the usual stall but funds were lower than usual probably due to the time of year and that it was in a different month. The Christmas Raffle produced very little as the local School had a raffle too which generated them funds from siblings.
The Admin fee for Waiting List was vastly increased, due to us receiving lots of applications for places as we came out of lockdown.
New kitchen equipment was purchased and fitted during the year, which was funded by a kind donation from Eton Parish Educational Trust (EPET).
## Other Income/Expenditure:
We continue to source reasonably priced items, whilst bearing in mind their durability.
The Pre-School continues to work closely with the Local Authorities and supports families and children with a wide range of needs. In line with Ofsted regulations, staff have accessed online training, keeping abreast of changes in legislation, practices and new safeguarding measures.
Training has also been undertaken to ensure renewal of certificates held, maintaining the rolling programme of staff qualifications.
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## **ETON PRE-SCHOOL**
## **___________________________________________________________________________________**
Retained surpluses are required as reserves are to be utilised in the following year for ongoing maintenance of the building décor.
Funds are also required in case of redundancies.
The net movement in funds was a surplus of £5,834 (2022: £7,216).
## **Reserves Policy**
Retained reserves are maintained to deal with expected drops in pupil numbers and grant funding, and to cover future property lease commitments and redundancies, should the Pre-School have to close. No set level of reserves has been agreed, but free reserves stood at £178,809 at the year end. (2022 - £176,910), which the Trustees deem to be adequate.
## **Statement of Trustees' responsibilities**
The Trustees, who are also directors of Eton Pre-School for the purpose of company law, are responsible United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure of the charitable company for that year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing those financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently to observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material
- departures disclosed and explained in the financial statements; and
- prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
M Wernham
Trustee
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## **ETON PRE-SCHOOL**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2023**
_________________________________________________________________________________
|**Income**
Incoming resources from generated funds
Voluntary income - Donations
Activities for generating funds
Investment income
bank interest
Incoming resources from charitable activities
Fees
Grant funding
TOAST income
Other incoming resources
**Expenditure**
Charitable activities
Staff costs
Heat and Light
Telephone
Equipment
Printing, Postage, Stationery
Training
Insurance
Rent & rates
Food
Maintenance, cleaning, gardening
Dilapidations provision
Depreciation on fixed assets
Accountancy
Other costs
**Net movement in funds/Surplus for the year**
**Reserves brought forward**
**Reserves carried forward**|**Unrestricted General Fund**
**2023**
**2022**
**£**
**£**
**£**
**£**
449
1,564
1,512
297
219
23
36,239
128,566
31,637
1,314
32,064
115,734
28,960
1,085
200,014
179,649
137,752
118,059
3,893
3,409
1,025
486
6,287
3,711
569
263
1,667
1,516
1,894
1,747
16,500
19,912
2,534
9,289
5,750
1,753
2,389
14,362
-
1,753
3,209
2,058
2,663
2,163
(194,180)
(172,433)
_______
_______
5,834
7,216
176,910
169,694
________
________
£182,744
£176,910|
|---|---|
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## **ETON PRE-SCHOOL**
## **BALANCE SHEET AT 31 AUGUST 2023**
_________________________________________________________________________________
|**Fixed assets**
Tangible assets 2
**Current assets**
Debtors
prepayments
Debtors
other debtors
Bank
**Creditors**:
Amounts due within one year
- Accrued expenses
Net current assets
Provisions
**Net assets**
**Reserves**
Unrestricted general reserve|**2023**
**2022**
**Notes**
**£**
**£**
**£**
3,935
1,375
-
1,375
-
206,691
190,778
_________
_________
208,066
(23,507)
_________
192,153
(20,930)
_________
184,559
(5,750)
_______
£182,744
**________**
£182,744|**2022**|**£**
5,687
171,223
-
_______
£176,910|
|---|---|---|---|
||||**_________**
£176,910|
For the financial year ended 31 August 2023 the charitable company was entitled to exemption from audit under section 477 Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.
The trustees, as directors, acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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 accounts, so far as applicable to the company.
These financial statements have been prepared in accordance with the provisions applicable to the companies subject to the small companies regime.
The accounts set out on pages 3 to 6 were approved by the Trustees on behalf by:
and were signed on their
M Wernham Trustee
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Company Registration No 07598405
## **ETON PRE-SCHOOL**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 AUGUST 2023**
**____________________________________________________________________________**
## 1. **ACCOUNTING POLICIES**
## **1. Accounting Policies**
## **Charity information**
Eton Pre-School is a private company limited by guarantee incorporated in England and Wales.
## **1.1 Accounting convention**
The accounts have been ting and Reporting by Statement of Recommended Practice applicable for charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice as amended for accounting periods commencing from 1 January 2019. The charity is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies are set out below.
## **1.2 Incoming resources**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt.
## **1.3 Resources expended**
Expenditure is charged on an accruals basis and includes irrecoverable VAT. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **1.4 Tangible assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Items with a value of £1,000 are capitalised while others with value below £1,000 are written off fully in the year of purchase.
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## **ETON PRE-SCHOOL**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2023**
## **____________________________________________________________________________**
## **1 Accounting policies**
## **(Continued)**
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements - over the life of the lease Equipment - 20% on cost on a straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
## **1.5 Taxation**
No provision for taxation arises on the income of the charitable company due to its charitable status.
## **1.6 Financial Instruments**
The charitable company has elected to apply the provisions of instruments.
Financial instruments are company becomes party to the contractual provisions of the instrument.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
## **1.7 Leases**
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.
## **1.8 Government grants**
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
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## **ETON PRE-SCHOOL**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2023**
## **____________________________________________________________________________**
## **2. TANGIBLE FIXED ASSETS**
|Leasehold
Equipment
Improvements
£
£
Cost
At 1 September 2022
11,124
18,159
and 31 August 2023
Depreciation
At 1 September 2022
8,170
15,425
Charge for period
742 1,011
At 31 August 2023
8.911
16,437
Carrying amount
At 31 August 2023
2,213 1,722
At 31 August 2022
2,954 2,733
**3.**
**EMPLOYEE COSTS**
Salaries
Social security costs
Pension costs|Total
£
29,283
23,595
1,753
25,348
3,935
5,687
**2023**
£
129,288
5,191
3,273
137,752|**2022**
£
110,261
4,498
3,300
118,059|
|---|---|---|
The average number of monthly persons employed by the charity during the year who received remuneration was 5 (2022 5). The Trustees received no remuneration during the period. No employees have received more than £60,000 during the year (2022: nil).
## **4. SHARE CAPITAL**
The company is limited by guarantee and does not have any share capital. In the event of the company being wound up, the liability of each member shall not exceed £1.
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## **ETON PRE-SCHOOL**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2023**
## **____________________________________________________________________________**
## **5. OPERATING LEASES**
The charitable company has total future commitments under non-cancellable operating leases expiring as follows:
|
Land and building
expiring with two to five years|**2023**
**£**
£49,500|**2022**
**£**
£66,000|
|---|---|---|
## 6. **RELATED PARTY TRANSACTIONS**
There were no related part transactions in the year, or prior year.
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## **ETON PRE-SCHOOL**
## **____________________________________________________________________________**
I report on the accounts of the charity for the year ended 31 August 2023, which are set out on pages 2 to 9.
## **Respective responsibilities of the trustees and examiner**
, who are also directors of Eton Pre-School for the purposes of company law, are responsible for the preparation of the accounts 2006 .
Having satisfied myself that the accounts of the charitable 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
accounts as carried out under section 145 of the Charities Act 2011 (the 2011 Act followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
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 charitable company as required by section 386 of the 2006 Act; or
- (2) the accounts do not accord with those accounting records; or
- (3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other idered 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.
Friary Court 13 - 21 High Street Guildford Stephen Meredith FCA DChA Surrey ALLIOTTS LLP GU1 3DL Chartered Accountants
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