Creswick Pre-school Ltd.
ANNUAL TRUSTEES REPORT 01.12.21 – 30.11.22
This report follows the guidelines laid down by the Charity Commission in their website guidance for small charity reporting.
Reference and reporting details
Charity Name Creswick Pre-school Ltd Registered Charity Number 1145213 Registered address Sir John Newsom Way Welwyn Garden City Hertfordshire AL7 4FL Address of pre-school Sir John Newsom Way Welwyn Garden City Hertfordshire AL7 4FL
Trustees
Creswick Pre-school’s trustees are also directors of the pre-school as registered with Companies House. Trustees have served throughout the financial year.
Mrs Gemma Jeffrey– Chair Ms Sarah Berriman - Treasurer
Advisors
Bank: Barclays Bank 99 Harborough Road Northampton NN2 7SL Accountant: RS Partnership Riverside House 14 Prospect Place Welwyn Hertfordshire AL6 9EN
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Structure, Governance and Management
Governing document: Trustee selection: Meetings:
Pre-school learning alliance model constitution Directors as registered with Companies House The directors meet at least three times a year
Objectives and activities
Summary of objectives: To provide education and early learning for pre-school age children in our local community.
Summary of main activities:Two, three hour sessions daily during term time. We also
offer a lunch club to those families wishing to use it. Carefully planned activities follow the Early Years Foundation Stage curriculum ensuring that every child has access to good quality play and learning experiences that are differentiated to suit their stage of learning and development. We work in close partnership with parents and other professionals to ensure best outcomes for children aged 2-5.
Achievements and performance
Our waiting list continues to be incredibly healthy with over 200 children on the list.
The pre-school achieved an Ofsted grading of Outstanding in its last inspection (March 2019). All actions identified in that inspection have been completed. Staff retention is excellent. All staff are qualified to at least level 3, and other qualifications include levels, 4 and 7. Our setting is graduate led.
Creswick pre-school aims to provide the best experience it can for the young children in its care. Whilst we of course seek to retain a financial reserve in case of emergency, we purchase the best quality equipment and resources and ensure that all money received by the pre-school goes straight back to providing the best we can for the children and their families. Our website, www.creswickpre-school.co.uk gives an overview of what Creswick Pre-school provides for local children.
This year we continued to welcome children funded through the two-year-old funded scheme. We work in close partnership with our local children’s centre to ensure that families of the children in receipt of this funding get any additional support they may need. Two-year-old children require a ratio of 1:4. This has a knock on effect to our overall budget and continues to put pressure on the budget.
In addition to the regular income of weekly fees through both cash payments and families using childcare vouchers through their workplace schemes.
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As time goes on, margins continue to decrease as the setting manages rising outgoings (associated with a well-documented national cost-of-living crisis) against government funding for childcare which does not keep pace. Our aim Is to maintain a sensible contingency for emergencies whilst trying not to increase costs for fee paying parents, many of whom are already struggling financially.
There have been no large outgoings this year. The setting very much manages on a business as usual basis.
Financial review
Please see attached end of year accounts.
Declaration
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of charity trustees:
| Signature: | ||
|---|---|---|
| Full name: | Gemma Jeffrey | Sarah Berriman |
| Position: | Trustee | Trustee |
| Date: | 24thAugust 2023 | 24thAugust 2023 |
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Registration number: 07080206
Creswick Pre-School Limited
(A company limited by guarantee)
Annual Report and Unaudited Financial Statements
for the Year Ended 30 November 2022
RS Partnership Ltd Chartered Certified Accountants Riverside House 14 Prospect Place Welwyn Hertfordshire AL6 9EN
Creswick Pre-School Limited
(A company limited by guarantee)
Contents
| Company Information | 1 |
|---|---|
| Balance Sheet | 2 to 3 |
| Notes to the Unaudited Financial Statements | 4 to 6 |
Creswick Pre-School Limited (A company limited by guarantee)
Company Information
Directors Mrs Gemma Jeffrey Mrs Sarah Berriman Registered office Creswick Pre School Creswick School Sir John Newsom Way Welwyn Garden City Hertfordshire AL7 4FJ Accountants RS Partnership Ltd Chartered Certified Accountants Riverside House 14 Prospect Place Welwyn Hertfordshire AL6 9EN
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Creswick Pre-School Limited
(A company limited by guarantee)
(Registration number: 07080206) Balance Sheet as at 30 November 2022
| Note 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 Reserves Other reserves Retained earnings Surplus |
2022 £ 1,230 340 29,557 29,897 (2,721) 27,176 28,406 19,142 9,264 28,406 |
2021 £ 1,640 - 27,843 |
|---|---|---|
| 27,843 (2,811) |
||
| 25,032 | ||
| 26,672 | ||
| 19,142 7,530 |
||
| 26,672 |
The notes on pages 4 to 6 form an integral part of these financial statements. Page 2
Creswick Pre-School Limited
(A company limited by guarantee)
(Registration number: 07080206) Balance Sheet as at 30 November 2022
For the financial year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the Board on 18 May 2023 and signed on its behalf by:
......................................... Mrs Gemma Jeffrey Director
......................................... Mrs Sarah Berriman Director
The notes on pages 4 to 6 form an integral part of these financial statements. Page 3
Creswick Pre-School Limited (A company limited by guarantee)
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022
1 General information
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.
The address of its registered office is: Creswick Pre School Creswick School Sir John Newsom Way Welwyn Garden City Hertfordshire AL7 4FJ England The principal place of business is: Creswick Pre School Creswick School Sir John Newsom Way Welwyn Garden City Hertfordshire AL7 4FJ England
These financial statements were authorised for issue by the Board on 18 May 2023.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in Pounds Sterling (£), which is the Company’s functional currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
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Creswick Pre-School Limited
(A company limited by guarantee)
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class
Fixtures and fittings
Depreciation method and rate
25% on reducing balance
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
3 Staff numbers
The average number of persons employed by the company (including directors) during the year, was 7 (2021 - 10).
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Creswick Pre-School Limited (A company limited by guarantee)
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022
4 Tangible assets
| Cost or valuation At 1 December 2021 At 30 November 2022 Depreciation At 1 December 2021 Charge for the year At 30 November 2022 Carrying amount At 30 November 2022 At 30 November 2021 5 Debtors Prepayments 6 Creditors Creditors: amounts falling due within one year Due within one year Taxation and social security Accruals and deferred income Other creditors |
Furniture, fittings and equipment £ 14,323 |
Total £ 14,323 14,323 12,683 410 13,093 1,230 1,640 2021 £ - |
||
|---|---|---|---|---|
| 14,323 | ||||
| 12,683 410 |
||||
| 13,093 | ||||
| 1,230 | ||||
| 1,640 | ||||
| 2022 £ 340 340 2022 £ 1,113 1,280 328 2,721 |
||||
| - | ||||
| 2021 £ 1,191 1,620 - |
||||
| 2,811 |
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Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ CRESWICK PRE-SCHOOL LTD members of
| On accounts for the year ended |
30/11/2022 | Charity no (if any) |
1145213 |
|---|---|---|---|
Set out on pages 1 TO 11
Respective The charity's trustees are responsible for the preparation of the accounts in responsibilities of accordance with the requirements of the Charities Act 2011 (“the Act”). trustees and examiner
The charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the applicable Directions given by the Charity Commission (under section 145(5)(b) of the Act, and
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to state whether particular matters have come to my attention
Basis of independent My examination was carried out in accordance with general Directions given examiner’s statement by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and
consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
examiner's statement
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accounting records were not kept in accordance with section 130 of the Charities Act or
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the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Date: 10/07/2023
Signed: Name: KEITH JONES
1
IER
May 2018
Relevant professional qualification(s) or body (if any):
Address:
46 CROSSWAY WELWYN GARDEN CITY AL8 7EE
Section B Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
2
IER
May 2018