2023-08-31-accounts - Grove Pre-School (Stanway)

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Grove Pre-School (Stanway)

Charity No. 1144690

Company No. 07407682

Trustees' Report and Unaudited Accounts

31 August 2023

Grove Pre-School (Stanway) Contents

	Pages
Trustees' Annual Report	2 to 3
Independent Examiner's Report		4
Statement of Financial Activities		5
Summary Income and Expenditure Account		6
Balance Sheet		7
Notes to the Accounts	8 to	15
Detailed Statement of Financial Activities	16 to	17

Page 1

Grove Pre-School (Stanway) Trustees Annual Report

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 August 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 07407682

Charity No. 1144690

Registered Office

Stanway Rovers Football Club 50 New Farm Road Stanway Colchester CO3 0PG

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

J. Edwards	(Resigned 29 September 2022)
A. Folkerd	(Resigned 29 September 2022)
Z. Horner	(Resigned 29 September 2022)
H.J. Humm	(Resigned 10 December 2022)
C.D. Kelly
J.S. Lawson
C. Raynor
S.J. Shelley
R. Shotton	(Resigned 29 September 2022)
S. Smith
S.L. Tidey
N. Waters

Accountants

Quantic Accountancy Limited 1 Second Avenue Bluebridge Halstead Essex CO9 2SU

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Page 2

Grove Pre-School (Stanway) Trustees Annual Report

Signed on behalf of the board

C. Raynor Trustee 05 March 2024

Page 3

Grove Pre-School (Stanway) Independent Examiners Report

Independent Examiner's Report to the trustees of Grove Pre-School (Stanway)

I report to the charity trustees on my examination of the financial statements of Grove Pre-School (Stanway) for the year ended 31 August 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 financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the Charity 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 financial statements 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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in accordance with section 386 of the 2006 Act ; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
the financial statements 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 financial statements to be reached.

Mr Stuart Foster (FCCA) ACCA Quantic Accountancy Limited 1 Second Avenue Bluebridge Halstead Essex CO9 2SU 05 March 2024

Page 4

Grove Pre-School (Stanway) Statement of Financial Activities

for the year ended 31 August 2023

Unrestricted funds 2023 £ 999 111,480 437	Total funds 2023 £ 999 111,480 437	Total funds 2022 £ - 103,656 28
112,916 4,943 127,908	112,916 4,943 127,908	103,684 4,766 116,062
132,851 -	132,851 -	120,828 -
(19,935) -	(19,935) -	(17,144) -
(19,935)	(19,935)	(17,144)
(19,935) 57,144	(19,935) 57,144	(17,144) 74,288
37,209	37,209	57,144

Page 5

Grove Pre-School (Stanway) Summary Income and Expenditure Account

for the year ended 31 August 2023

Income Interest and investment income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net expenditure before tax for the year Net expenditure for the year	2023 £ 112,479 437 112,916 132,596 255 132,851 (19,935) (19,935)	2022 £ 103,656 28
		103,684
		120,619 209
		120,828
		(17,144)
		(17,144)

Page 6

Grove Pre-School (Stanway) Balance Sheet

at 31 August 2023

Company No. 07407682 Notes 2023 £ Fixed assets Tangible assets 11 371 371 Current assets Debtors 12 - Cash at bank and in hand 45,706 45,706 Creditors:Amount falling due within one year 13 (8,868) Net current assets 36,838 Total assets less current liabilities 37,209 Net assets excluding pension asset or liability 37,209 Total net assets 37,209 The funds of the charity Restricted funds 14 Unrestricted funds 14 General funds 37,209 37,209 Reserves 14 Total funds 37,209	2022 £ 626
	626 362 62,965
	63,327 (6,809)
	56,518 57,144
	57,144
	57,144
	57,144
	57,144
	57,144

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 August 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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.

Approved by the board on 05 March 2024

And signed on its behalf by:

C. Raynor Trustee 05 March 2024

Page 7

Grove Pre-School (Stanway) Notes to the Accounts

for the year ended 31 August 2023

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 8

Grove Pre-School (Stanway) Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Computer equipment

25% Straight line

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 9

Grove Pre-School (Stanway) Notes to the Accounts

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

Page 10

Grove Pre-School (Stanway) Notes to the Accounts

3 Statement of Financial Activities - prior year

3 Statement of Financial Activities - prior year
Income and endowments from: Charitable activities Other trading activities Investments Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies Donations 5 Income from charitable activities Pre-school fees Fundraising events	Unrestricted £ 999 999 Unrestricted £ 110,897 583 111,480	Unrestricted funds 2022 £ 504 103,152 28 103,684 120,828 120,828 (17,144) (17,144) (17,144) 74,288 57,144 Total 2023 £ 999 999 Total 2023 £ 110,897 583 111,480	Total funds 2022 £ 504 103,152 28
			103,684 120,828
			120,828
			(17,144)
			(17,144)
			(17,144) 74,288
			57,144
			Total 2022 £ -
			-
			Total 2022 £ 103,152 504
			103,656

Page 11

Grove Pre-School (Stanway) Notes to the Accounts

6 Income from investments

Deposit account interest 7 Expenditure on charitable activities Expenditure on charitable activities Pre-school fees Governance costs 8 Other expenditure Employee costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 9 Net expenditure before transfers This is stated after charging: Depreciation of owned fixed assets Independent Examiner's fee	Unrestricted £ 437 437 Unrestricted £ 4,943 4,943 Unrestricted £ 105,136 18,435 255 3,019 1,063 127,908 2023 £ 255 416	Total 2023 £ 437 437 Total 2023 £ 4,943 4,943 Total 2023 £ 105,136 18,435 255 3,019 1,063 127,908	Total 2022 £ 28
			28
			Total 2022 £ 4,766
			4,766
			Total 2022 £ 102,032 10,181 209 2,557 1,083
			116,062
			2022 £ 209 396

Page 12

Grove Pre-School (Stanway) Notes to the Accounts

10	Staff costs
		2023	2022
	Salaries and wages	103,201	99,945
	Pension costs	1,002	-
		104,203	99,945
	No employee received emoluments in excess of £60,000.
	The average monthly number of full time equivalent employees	during the year was as follows:
		2023	2022
		Number	Number
	Pre-school	10	10
		10	10
11	Tangible fixed assets
		Computer equipment	Total
		£	£
	Cost or revaluation
	At 1 September 2022	1,021	1,021
	At 31 August 2023	1,021	1,021
	Depreciation and
	impairment
	At 1 September 2022	395	395
	Depreciation charge for the	255	255
	year
	At 31 August 2023	650	650
	Net book values
	At 31 August 2023	371	371
	At 31 August 2022	626	626
12	Debtors
		2023	2022
		£	£
	Trade debtors	-	362
		-	362
13	Creditors:
	amounts falling due within one year
		2023	2022
		£	£
	Other taxes and social security	439	-
	Accruals	361	361
	Deferred income	8,068	6,448
		8,868	6,809

Page 13

Grove Pre-School (Stanway) Notes to the Accounts

14 Movement in funds

Restricted funds: Unrestricted funds: General funds Total funds 15 Analysis of net assets between funds Fixed assets Net current assets 16 Reconciliation of net debt Cash and cash equivalents Net debt	Incoming resources (including other gains/losses ) £ 112,916 112,916 At 1 September 2022 £	Resources expended £ (132,851) (132,851) Unrestricted funds £ 371 36,838 37,209 Cash flows £	At 31 August 2023 £ 37,209
			37,209
			Total £ 371 36,838
			37,209
			At 31 August 2023 £
	62,965	(17,259)	45,706
	62,965 62,965	(17,259) (17,259)	45,706
			45,706

17 Commitments *Operating lease commitments* Annual commitments under non-cancellable operating leases 2023 Land and buildings £ Operating leases with expiry date: *Pension commitments* The pension cost charge to the company amounted to:	are as follows: 2023 Other £ 2023 £ 1,002	2022 Land and buildings £	2022 Other £ 2022 £ -

Page 14

Grove Pre-School (Stanway) Notes to the Accounts

18 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 15

Grove Pre-School (Stanway) Detailed Statement of Financial Activities

for the year ended 31 August 2023

Income and endowments from: Donations and legacies Donations Charitable activities Pre-school fees Fundraising events Investments Deposit account interest Total income and endowments Expenditure on: Charitable activities Pre-school fees Total of expenditure on charitable activities Employee costs Salaries/wages Pension costs Staff training Staff welfare Premises costs Rent Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of Computer equipment Equipment repairs and maintenance General insurances Stationery and printing Subscriptions	Unrestricted funds 2023 £ 999 999 110,897 583 111,480 437 437 112,916 4,943 4,943 4,943 103,201 1,002 508 425 105,136 16,158 2,277 18,435 255 467 826 1,313 160	Total funds 2023 £ 999 999 110,897 583 111,480 437 437 112,916 4,943 4,943 4,943 103,201 1,002 508 425 105,136 16,158 2,277 18,435 255 467 826 1,313 160	Total funds 2022 £ -
			-
			103,152 504
			103,656
			28
			28
			103,684 4,766
			4,766
			4,766 99,945 - 1,817 270
			102,032
			9,250 931
			10,181
			209 - 802 933 35

Page 16

Grove Pre-School (Stanway) Detailed Statement of Financial Activities

Sundry expenses Legal and professional costs Audit/Independent examination fees Accountancy and bookkeeping Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	253 3,274 416 697 (50) 1,063 127,908 132,851 - (19,935) (19,935) - (19,935) 57,144 37,209	253 3,274 416 697 (50) 1,063 127,908 132,851 - (19,935) (19,935) - (19,935) 57,144 37,209	787
			2,766
			396 637 50
			1,083

			116,062
			120,828 -
			(17,144)
			(17,144) -
			(17,144)
			74,288
			57,144

Page 17