Charity reglstration numbor 1146376 Company registration number 07827217 (England and Wales) BARNErr WOOD PRE SCHOOL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 BARNETh WOOD PRE SCHOOL LEGAL AND ADMINISTRATIVE INFORMATION Mr M L Tiley (Chair} Mrs E J Deighton (Employee and Parent Liaisonl Health & Saf¢ty} Mrs S M Leyland (Curriculum and Inspecti¢)n) S•¢r•tary Mr M L Tiley {Chair) Charlty number 1146378 Cixnpany numbgr 07827217 Principal address 213 Barnett Wood Lane Ashtead Surrey KT21 2DF Regr8tsred office 213 Bamett Lane A5hlead Surrey KT21 2DF Indep&nd8nt 8xamin•r Frances Wlde FCCA DChA Wamei Wilde Chartered Certified Accountants 4 Marigold Drive B￿eY Surrey GU24 9SF Bankgrs Santsnder- Booue Bootle Mer5eyside L30 4GB BARNErr WOOD PRE SCHOOL CONTENTS Page Tntstees. report Independent examinels ￿port Statement of finanrial acliwtss Balance sheet Note$ lo the finanaal $lateTh￿nts 8-19 BARNETh WOOD PRE SCHOOL TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2022 The trustees present their annual reFQrt and finarri81 statements for the year ended 3f August 2022. The financial statements have tRen prepared in ￿)r(lance with the accounting w)liues set out in note 1 to the financial statements and ¢omply with the charity's governing document. the Cornpanies Act 2006 and 'Accounting and Reporting by Charib"es: Ststemenl of Recommended Practice applicable to charities prepallng their accounts in attordance wth the Finanoal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191". otii•ctiV￿ and activities The pre-school's objectives are to enhance the development and educ2t￿n of children undeT statutory school a9e. The policies adopted in fvrtherance of these obj.ects are to operate a pre-schod and there has been no change in these during the year. The trustees have paid due regard to guirtan￿ on public benefft issued by the Charty Commission in ¢Jwding at ￿tIVitieS they shosjld undertake. Achievemonts and p8rlorniance The trustee8, management and staff have once again worked tr"reles5￿ to ensure we provide an excellent level of care, early learning and development f¢r all the ¢hildren at our setting. We have worked. through fwuent changes in government guidance, to provfde the best care for the Children and families who attend our setting. At times going 'above and beyond, to support families. The setting continsjes to Sitrrey County Countil's Eaty Years team. ensuring that all our practiti0￿rS are followng the latest techniques and guidelines. In addition, the setting conb"nue$ to work vAth local schools to ensure a smooth transrbon for the children lo their new setting. The setting has identtfied an unusualty high number of children Spectal Edueab"onal Needs during this period and has worked with families and professionals to ensure that the needs of these children are met and that, where applicable the children move to their next setbng 7Mth the ne¢essary $UPF#)t plans in The setting was able to cary out improvemènts to the premises vknich had been delayed from the previous year due lo supplier lead ty"mes. This induded replacement of the V4indov•S arKI doors and the instsllation of a new access control system for the bjilding. We are fortunate enough lo receive an excellent levet of support and engagement from parents who have children al the Pre-school this conttnues to Create a positNe partnership to support the conts"nuing development of all childTen * the setting. Financial revÉew Incoming resources amounted to £270.000 for the year12021- £247,122), which results in a surplus of £10,137 (2021.. £32,429>. £5,000 of this Surplus is to be added to a furKI designated for ftrture maintenance of the setting, vknich is not met by the landlords. Surrey County Council. Unrestricted reserves carried foThRrd amount to £112.863 (2021: £102,674). The trustees, current rÈsÈrves policy is to mairtsin a surplus of bets4Een £55,000 and £94.000 unrestri¢ted funds which they consider suffiaent to mrbg8te a su¢Jden increase in expendrture or ioss of income. However, operating above the designated reserves level is considered p￿￿ent at this time when considering the in¢re8sed cost of utilities, high levels of irfflation and mortgagè intèrest rates {that may impact upon the abilty of tee paying paren15 to continuè to pay for pla￿5 as they see potentially 5ignTficant inL¥eases lo their oulgoingsl and the potential risks that the setting may have to respond to expedtted changes in the rate of the natsonal liwng wage to a¢¢ount for the cost of living crisis and non Gore grants may be chamenged as cx)un￿l budgèts get squeezed. BARNETT WOOD PRE SCHOOL TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 The Charrty's principal source of income is grants from Surrey County Council for children wrthin the fvnding bracket for Earfy Years fijnding. together wth fees from parents not cOVe￿d by council fijnding. Fees are invoiced termty. In recent years the Pre-school ha$ had lo absorb increased cosls dLte to the introducb.on of autWlTolment, additional maintenance costs as NbEII as increase5 to the rent charged for the premises by Surrey County Council. These ¢osts, together wth increases in the National Wage and energy prices. have not been entirely miligaled by inc￿0$e5 Ill the fijnding ￿ceiVed from Surrey County Council. As such we have had no option but to ask charge fvnded children for consumables a5 well as hold lundTaising events in order lo ensure that we can continue to offer the high levd of childcare and the variety of activities that we have done ift the past. Furthèr increases in National Living Wage are predKted over the next few years, wll contsnue to impact the setting's finance$. The trustees have assessed the major risk5 to vthich the pre-schocA is extosed, and are satisfied that systems are in plaGe lo mitigate exposure to these. Plans for future periods The Pre-school continues to work from a very sourKI financial foundation %thich will provide us with the opportunity to assess how we can improve our facilrties and resources to further enhance our earfy year3 aims and ambitions. The Pr&School directorn are committed to ensuring Ihat staff members receive the training and support they need lo fvlfill their role w￿1h1n the setting. We a￿ conscious of the increased demand for places in the Icdty and strive to ensuie we offer our faalIt￿8 to as many children as possible. Wth thi5 in mind, the Pre-school continues to look at ways in v4hich it C2n accommodate children eligible for the govemmenfs 30-hours fiJnding vthilst not signfficanuy reducing the number of children admitted to the Setting. Structure. govemance and manag8m•nt The charity is a company limited by guarantee. The trustees, who are also the directors for the purpose of ￿MpanY law, and served during the year and up to the date of SIgnabJ￿ of the finanaal stslements were.. Mr M L riley (Chairl Mrs E J Deighton (Employee and Parent ￿alson1 He8lth & Safety) Mrs S M Leyland (Curriculum and Inspection) The fomial P￿esS for appointment of trustees is Set out in seclion 5 of the Artides ofAssociation. None of the Iruslees has any beneficial interest in the company. All of the tn&stees are members of the company and guarantee lo contribute £1 in the event of a wnding up. The njnning Df the pr&school on a day to day basis is delegated by the trustees to a manager. Mrs Louise Pruthi supported by a team of stsff. The management ¢ommrttee provides marwement support and tlirection to the group lèader. They are also reSponsi￿e l¢y raising fvnds and ensuring fees and grants a￿ received in good time. Fundraising activrties are organised by parents to augment the funds of the playgroup. The charitable company was incorporated on 28 Cthber 2011 and began rts actiwbes on 6 Apnl 2012. New trustees are inwled for a lour of Ihe premise5 and talk to 8 director about the ethos of the Pre-S¢hool and how it runs. BARNErr WOOD PRE SCHOOL TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 The twstees, reP￿t vras approve(I by the Board of Trustees. MTM Tw$ f &a3 BARNETh WOOD PRE SCHOOL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BARNErr WOOD PRE SCHOOL I r•port to the trustees on my examination of Ihe ffinanaal slatem8nts ol Bamett ￿ts0d P￿ School {Ihe chwityl for the year ended 31 August 2022. Re*pon8lbMltleJ and b481$ of r¢port As th• trustees of the charity land also its th'recth for the purposes of ￿n￿anY W yrA are respon8iblE for the preparaiton ol Ihe In￿￿81 statom•nts in ￿C*danC• the raqulf•m￿ts of the Corrynl•$ Ad 20￿ Ith• 2¢)06 Act). Havlng 83ti3fied ry8eNlhat the fin¥ndal ¥t¥tsrnent¥ of tha thafity are not required to b¢ audtted undèr P8rt 16 tsf the 20C6 Act and are eligible for independent examination. I report in ￿sPeCt of my examination ol the charity'8 flnaneial statwnènts carried out under sectkjn 145 of the Charities Act 2011 {the 2011 Act). In carying out my •xaminaY¢n I ha￿ folk>w*d ail thg •ppIK*¢ Oir¢¢t*)ng 9￿¢￿ by tha Ch•rty Commi8#1tsrt undw $¢ction 145151 Ibl of the 2011 A( Indfrpendent examlne*8 8tat•ment Sfjnce the charity's gross irKome exceeded £250.000 your examlner must be a member of a body Ilsted In i¢¢tion 145 ¢f th& 2011 ACL I confim that l am qualifi•d to und•rtak• th• •xaminafjon b•caus• l am a membvr of th•Assocktion of Ch8rtered Cerulled Aetouritants. *thich is orn ofthe list•d l￿dI•s. I have Completed my exami)ati¢)n. I ￿nf￿rn that no matters have m to my attentton in comection wlh mlnauon giving me ¢au8e to bel&￿e that in any mateiial r8spo¢L accountin9 re¢ord¥ wer• rKst kept in re5pe¢t ollhe tharlty rawlr￿ by sectKJn 388 of the 2008 Act,. or Ihe financlal $l•lements do not x¢ord vthh those r¢cord$.' or lh• hnan¢l¥l $tst*rngnts do not compty the accounting reqU￿*m¢At$ of s•ction 398 of the 2008 Act otheT than Any requi￿rnent that the acccAJnts glve 8 In￿ and fah viw4 whlch 18 not a matter consld•red #j port of an indopondont ?x•minaUon,' or the flnanual statements have not boen prepared In xcordance t*lth th• m•thods gnd I￿ndP￿S ol ¢h• Sthlemenl of Re¢ornmended Pr•¢tice for a¢¢ourfng and raw￿n9 by ¢h8n1￿9 •ppll¢able to Char￿&1 preparing their accounts in a¢¢oTdance TrArfth the Finandal Reporting Stsndard applicab￿ in the UK and Republlc of IreLind (FRS 1021. I have no concem5 and have come aer053 no othw Matte￿ in connedjon wilh Ihe examlnots'on to ¥thleh 8tt9nllon ¥hould btr dravm In r•port in ordor to enable a prwr underntandirbg of the financ4al Btst•mon(s to b• r¢gched. Frnne￿ Wlld• FCCA DChA *mer Wilde Chartered Certhl•d Ac¢ourrtants 4 IAaftgold Driv• Bisley SuThey GU24 98F BARNETT WOOD PRE SCHOOL STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST2022 Currgnt finan¢lal year Total Total funds fund5 gen¢rJl doslgnated 2022 2022 funds 2022 2022 2021 Donations and legaaes Income from charitable activities Other trading actsvilies Investments Other income 182,237 82,787 182,237 82,787 3,369 323 1,284 157,935 86,631 1,918 272 366 3.369 323 1,284 Totsl incomg 266.631 3.369 270,000 247,122 Raising funds 1,070 1,070 905 Charitable acb"vitses 250,372 955 258,793 213,788 Total resources expended 251,442 955 259,863 214,693 Net incominglloutgoing) resoU￿e8 before transfer5 Net incomellexpenditurel for tho yg¥rf 15,189 {4,097} {9551 10.137 32,429 Net Incomlngl(outgolng) r•sources before transfers 15,189 14,09n {955} 10,137 32.429 Gross transfers be￿en funds {5.000} Fund balances at I September 2021 102.674 57,291 1.101 161,066 128,637 Fund tkilances at 31 August 2022 112,863 58,194 146 171,203 161,066 The statement of financial actiwties indudes 811 gains and losses re¢ognised in the year. All income and eXpendi￿re deii¥e from eontinLring acbvites. The statement of finanual actly￿eS also complies the requirements for an Income antl expenditure account under the CompaniesAct 2006. BARNETh WOOD PRE SCHOOL STATEMENT OF FINANCIAL ACTMTIES {copifiNUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022 Priorfinanclal y￿r Unrestricted Unrestricted Restricted funds funds fvnds gongrdl dosignated 2021 2021 Total 2021 2021 •and• Donations and legacies Income from charitable activibes other trading a¢tiwtie5 Investments other income 157,935 86.631 157,935 86,631 1,918 272 366 1.918 272 Total income 245.204 1,918 247,122 Raising funds 905 905 Charitable activities 208.296 4,537 955 213,788 Totsl resourc&s ex￿rtded 209,201 4,537 955 214,693 Not incominglloutgoing) resou￿ befo trdnsfers 36,003 12,619} (9551 32,429 Gross transfers befv*en fvnds 15,000} 5.OlJO Net incom811oxpandlturel for the ythirf Not movement in funds 31,003 2,381 {9551 32,429 Fund balances at I September 2020 71,671 54,910 2.056 128,637 Fund balances at 31 August 2021 102,674 57,291 1,101 161,066 The slalemenl of finanaal inchjdes all gains and losses recogn￿ed in the yeai. All income and expendrture derive from ¢ontinuin9 acbvibes. The statement of finantyal activities also complies ￿1th the regul￿MentS for an income and expenditure account under the CompaniesAct 2006. ## **BARNETT WOOD PRE SCHOOL** ## **BALANCE SHEET** ## _**AS AT 31 AUGUST 2022**_ |**Notes**
**Fixed assets**
Tangible assets
**13**
**Current assets**
Stocks
**14**
Debtors
**15**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**16**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**17**
Unrestricted funds
Designated funds
**18**
General unrestricted funds|**2022**
**£**
1,720
1,262
192,096|**£**
28,136
143,067
171,203
146
171,057
171,203|**2021**
**£**
2,232
3,014
176,370|**£**
32,900
128,166| |---|---|---|---|---| ||195,078
(52,011)||181,616
(53,450)|| ||58,194
112,863||57,291
102,674|| |||||161,066| |||||1,101
159,965| |||||| |||||161,066| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2022. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on 9[th] March 2023 .............................. Mr M L Tiley (Chair) **Trustee** **Company registration number 07827217** - 7 - BARNErr WOOD PRE SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Accounttng policies Charity information Barnett Wood Pre Scho(4 is a private company limited by guarantee incorFK)rated in England and Wales. The registered office is 213 Bamett Wood Lane, Ashtead. Surrey. l￿2l2DF. 1.1 Ac¢ountlng convention The financial statements have been prepared in accordance V•ith the c*arity's governing document, the Companies Act 2006 and -Accounting and RepoFt"ng by Charitses". Stslement of Re¢ommended Practice applicable to chariknes preparing their accounts in accordan￿ vrtth the Financial Reporb'ng Standard applicable in the UK and Republic of ]￿land IFRS 1021 (effective 1 January 2019}". The chanty is a Public Benefit Enlty as defined by FRS 102. The Charty has taken advantage ol the prow5ions in Ihe SORP for charrbes applying FRS 102 Update Bulletin 1 not to PTepare 3 Statement of Cash Flows. The finaneial statements are prepared in sterfing. vthith is the fvnctional Cuy￿ry of the Charity. Monetary amoun15 in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost ¢onvenbon. The principal accounting policies adopted are set out below. 1.2 Going con¢em Al the time C¢f approving the financia stslements. the trustees have a rea30nable &xpectalion that the charity ha5 adequate resources lo continue in operational extstence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the finanual statements. 1.3 Charitable funds un￿s1￿Cted fijnds are available for use at the di$￿ebOn of the trustees in fvrtherance of their charitable objectives. Restricted fijnds are Su￿.eCt to specrfic cOnd￿.0nS by donoTr as to how they may be used. The purposes ond uses of the restrthd funds are set oui in the notes to the finanaal staternents. Endovm)enl fvnds are subject lo speufic condrfions by donors that the caprtal must be maintained by th¢ d)arity. 1A Incom• Income is ￿CogniSed vthen the chanty is legally enblled lo it afier any perfomiance conditions have been mel, the amounts can be Measured ￿lIab￿, and tt is probable that income will be received. Cash donatlons 8re recognised on receipt. Other donations are recognised once the charty ha5 been notified of the donation. unless performance condib.ons wuire defÈrral of the amount Income lax recoverable In relat￿n to donations received under Gfft AKI or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or othewse rf the charity has been nolrfted of an impending distribution, the amount is knovm, and receipt is expected. If the amount is not kno￿, the legacy is treated as a conts"ngent assèt. 1.5 ExporKlitwg Expenditure is recognised once there is a legal or constnjctive obligation to make a payment to a third party. it is probaNe that seltlement will be required and the anM)ynl of the obb"gation can be measured reliably. BARNErr WOOD PRE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Accounting pollclos {Continuedl 1.6 Tangible fixed assgts Tangible fixed assets are inibalty measured at cost and subsequenty m&￿ure(l at cost Of valuat￿n, nel of depreciation and any Impalm￿nt h)$3es. DeprerAatÉon is recognised so as to V￿lte off the cost or valuatM)n of assets less their residual values over their useful lives on the following base8'. Buildings Fixtu￿$, fittings & equipment Computers 10 years straight line 3 years straight line, 5 yeais straight line 3 years $traBJht line The gain or loss arising on the disposal of an #$$Èt is detemiined as the difference be￿n the salè proceeds and the carrying value of the asset. and is recognised in the statement of finan¢ial activities. 1.7 Impalrni•nt of fixod assets At each reporting end date, the chanty ￿vIewS the carying amounts of its tsngible assets to detemine whether there 15 any indication that those a&sets have suffered an impaimient loss. If any Such indication exis15, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss lif any). 1.8 Stocks stocks are slated at the loV￿r of cost and estimated seming price less costs lo complet¢ and sell. Cost comprises direct materials and, where appIts￿e. direct labour costs and those overheads that have been incurred in bringing the stod(5 to thwr present location and condth"on. Items held for distribution al no oi nomina5 cOn￿deratiOn are measufed the lovm of replacement cost and ￿st Net realisable value is the estimaled selling pnce less all estimaled costs of comF4th"on and costs to be incurred in marketing. sel￿n9 arHI d￿"Ix￿.0￿. 1.9 Cash and cash equivalents Cash and cash equivalents inc￿de cash in hand, tjeposits hekl at call vth banks, rAher short-temi Ilquld investrnents with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shoNbTr wrthin l)orrowings in cJJrrenl lthilities. 1.10 Financial instnrnents The ¢haiity has elected to appty the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other FinanGial Instruments IssLtes' of FRS 102 to all of its finan￿￿ instruments. Financial instruments are re¢ognised in the charity's b￿ance sheet vrt￿n the ¢haryty be¢ome$ party to the ¢ontraE#ual provisions of the instrumenL Financial assets and liabilibes are off5eL wth the net amounts presented in the finanaal statements, when there is a legally enforceable right to set off the recogfiised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liabilty $imultaneousty. Basic finanelalassets Basic financial assets, vthich indude debtots and cash and bank balances. are initially moasured at transartion price including tsansacts.on costs and are subsequendy measured at the cash or other consideration expected to be received and not diS￿unIed. BARNETT WOOD PRE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 A¢¢ountlng p¢ll¢les {Continuedl Basic financial IITabilities Basic financAal liabilities. induding credit(Ns and bank loans are inib.alty recognised at transa¢b"on price unles$ the arrangement Gonstitutes a financing transaction, vthe￿ the debt instrument is measured at the present value of the future payments discounted at a market rate of inte￿st. Financial liabilrties classified as payable wlhin one year are not amortised. Basic ffinanoal liabilrties are subsequenty measured at the cash or other consideration expected trj be paid and not discounted. Trade Creditors are obligations to pay for goods or seThi¢es that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassffied as Gurrent liabllrt￿eS if payment is due within one year of less. If not, they are presellted as nort0 iVitX*￿O •*4 BARNETT WOOD PRE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (COKTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 20 R8lat8d party tran5actlons There were no ¥J4selosable related party transactions during the year12021 - none).