**Charity registration number 1146378** **Company registration number 07827217 (England and Wales)** ## **BARNETT WOOD PRE SCHOOL** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023** ## **BARNETT WOOD PRE SCHOOL** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Mr M L Tiley (Chair)| |---|---| ||Mrs E J Deighton (Employee and Parent| ||Liaison/Health & Safety)| ||Mrs S M Leyland (Curriculum and Inspection)| |**Secretary**|Mr M L Tiley (Chair)| |**Charity number**|1146378| |**Company number**|07827217| |**Principal address**|213 Barnett Wood Lane| ||Ashtead| ||Surrey| ||KT21 2DF| |**Registered office**|213 Barnett Wood Lane| ||Ashtead| ||Surrey| ||KT21 2DF| |**Independent examiner**|Frances Wilde FCCA DChA| ||Warner Wilde| ||Chartered Certified Accountants| ||4 Marigold Drive| ||Bisley| ||Surrey| ||GU24 9SF| |**Bankers**|Santander - Bootle| ||Bootle| ||Merseyside| ||L30 4GB| ## **BARNETT WOOD PRE SCHOOL** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 3| |Independent examiner's report|4| |Statement of financial activities|5 - 6| |Balance sheet|7| |Notes to the financial statements|8 - 19| ## **BARNETT WOOD PRE SCHOOL** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ The trustees present their annual report and financial statements for the year ended 31 August 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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 2019)". ## **Objectives and activities** The pre-school's objectives are to enhance the development and education of children under statutory school age. The policies adopted in furtherance of these objects are to operate a pre-school and there has been no change in these during the year. The trustees have paid due regard to guidance on public benefit issued by the Charity Commission in deciding what activities they should undertake. ## **Achievements and performance** The trustees, management and staff have once again worked tirelessly to ensure we provide an excellent level of care, early learning and development for all the children at our setting. We have worked, through frequent changes in government guidance, to provide the best care for the children and families who attend our setting. At times going ‘above and beyond’ to support families. The setting continues to work with Surrey County Council’s Early Years team, ensuring that all our practitioners are following the latest techniques and guidelines. In addition, the setting continues to work with local schools to ensure a smooth transition for the children to their new setting. Once again, the setting has identified high numbers of children with Special Educational 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 setting with the necessary support plans in place. The setting is fortunate to receive an excellent level of support and engagement from parents who have children at the preschool this continues to create a positive partnership to support the continuing development of all children at the setting. The preschool underwent an Ofsted inspection in May 2023 and were judged to be ‘Outstanding’ in all areas. We would like to recognise the efforts and commitment of ALL staff in achieving this exceptional assessment. ## **Financial review** lncoming resources amounted to £295,142 for the year (2022: £270,000), which results in a surplus of £13,447 (2022: £10,137). £5,000 of this surplus is to be added to a fund designated for future maintenance of the setting, which is not met by the landlords, Surrey County Council. Designated reserves carried forward are £58,600 (2022: £58,195). Unrestricted reserves carried forward amount to £126,050 (2022: £112,863). The trustees' current reserves policy is to maintain a surplus of between £55,000 and £94,000 unrestricted funds which they consider sufficient to mitigate a sudden increase in expenditure or loss of income. However, operating above the designated reserves level is considered prudent at this time when considering the increased cost of utilities, high levels of inflation and mortgage interest rates (that may impact upon the ability of fee paying parents to continue to pay for places as they see potentially significant increases to their outgoings) and the potential risks that the setting may have to respond to expedited changes in the rate of the national living wage to account for the cost of living crisis and non-core grants may be challenged as council budgets get squeezed. - 1 - ## **BARNETT WOOD PRE SCHOOL** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ In addition to this, the extension of the government funding for Early Education to younger children may adversely impact future income for the setting as funding levels are likely to be lower than the fee-rate currently paid by parents. The charity's principal source of income is grants from Surrey County Council for children within the funding bracket for Early Years funding, together with fees from parents not covered by council funding. Fees are invoiced termly. In recent years, the increase to National Living Wage and energy prices have not been entirely mitigated by increases in the funding received from Surrey County Council. As such we have had no option but to ask charge funded children for consumables as well as hold fundraising events in order to ensure that we can continue to offer the high level of childcare and the variety of activities that we have done in the past. Further increases in National Living Wage are predicted over the next few years and will continue to impact the setting’s finances. The trustees have assessed the major risks to which the pre-school is exposed, and are satisfied that systems are in place to mitigate exposure to these. ## **Plans for future periods** The preschool continues to work from a very sound financial foundation which will provide us with the opportunity to assess how we can improve our facilities and resources to further enhance our early years aims and ambitions. The preschool directors are committed to ensuring that staff members receive the training and support they need to fulfill their role within the setting. We are conscious of the increased demand for places in the locality and strive to ensure we offer our facilities to as many children as possible. With this in mind, the preschool continues to look at ways in which it can accommodate children eligible for the government’s 30-hours funding whilst not significantly reducing the number of children admitted to the setting. ## **Structure, governance and management** The charity is a company limited by guarantee. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Mr M L Tiley (Chair) Mrs E J Deighton (Employee and Parent Liaison/Health & Safety) Mrs S M Leyland (Curriculum and Inspection) The formal process for appointment of trustees is set out in section 5 of the Articles of Association. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. New trustees are invited for a tour of the premises and talk to a director about the ethos of the Pre-School and how it runs. The running of the pre-school on a day to day basis is delegated by the trustees to a manager, Mrs Louise Pruthi supported by a team of staff. The management committee provides management support and direction to the group leader. They are also responsible for raising funds and ensuring fees and grants are received in good time. Fundraising activities are organised by parents to augment the funds of the playgroup. The charitable company was incorporated on 28 October 2011 and began its activities on 6 April 2012. - 2 - ## **BARNETT WOOD PRE SCHOOL** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ The trustees' report was approved by the Board of Trustees. .............................. Mr M L Tiley (Chair) **Trustee** Date: ............................................. - 3 - BARNETh WOOD PRE SCHOOL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BARNETf WOOD PRE SCHOOL I report lo th8 trustees on my examination of the finanL¥al tststsM￿ts of Bamatt Wood Pfe SL*ool (the tharfty} for the year ended 31 August 2023. Rosponslbllltlos and bas18 Of report As the trustees of the charfty land also Sts dlr&Xors for the purposes of Ly)mpany law) you aro respcfflsible for thg preparation of tha fin8ndal ststsments In accordanca wlth Ihe wulreff*nts of tho Companlgs Act 2006 (tho 2006 Act). Having satisfied myself that the financial ststements of the charity are not required to be auditgd under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the th8rity'8 financlal slalements carried out under section 145 of the Charities Act 2011 (the 2011 Ad). In carrying out my examlnation I have folk)wed all the awlicable Directi(ms given by tho Charity commissi￿ undor wtion 14515llbl of the 2011 Act. Independènt examln•rfi •tat•m•nt Sin¢0 thg charity's gross income exceodgd £250.1100 ￿)Ur axaminer musl be a member of a txjdy listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake thè examinatlon b￿U88 l am a mambèr ol th8 AswclaJon of Chartered Certified Accountants. vthlch L8 one of th¢ Ilsled bodth. I have completod my exarrination. I ¢￿filM that no matters have o)rne to my attentlon In connection with the examin8tion gNing me cause to believe that in any material respecL' 8Gcounting records were not kept In respect of the tharlty as reoulred by 86dlon 386 of thè 2006 Acl: or thè flnanclal 8lalamenl8 do not accord vAth th088 rocord8'. or the ftnanclal statements do not cornp￿ vAth the a(xounllng requlrnm8nts of sectlon 396 of the 2006 Acl other than any requlrement that the aco)unts glve a true and falr vl8w wNth18 nol a matter con8ldored as part of an Independent examSnatlon,' or tho financial stalemonts hav• not b￿n propargd in o(wrdgnc• with th• mgthods and prirrip1è8 of th• Slalemenl of RecommerKled Practice for accounting and reporting by charities applicabl8 to charillès preparfng th6ir accounts kn accordance wllh the Finanual Rèporting Stsndard applicable In the UK ar Republic of Ireland {FRS 102). I have no concems and have come across no other matters in cy)nn•dion wilh the examination to which attonlk)n should be drawn In Ihls report In order to enab￿ a proper understsnding of tho flnandal ¥tatsmonts to b8 r89thod. Franc•i Wlld• FCCA DChA Wamer Wllde Chartered Certified Accountants 4 Marlgold Drfve Blsley Surrey GU24 9SF ## **BARNETT WOOD PRE SCHOOL** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ |**Current financial year**
**Unrestricted Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**designated**
**2023**
**2023**
**2023**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
162,507
-
-
Income from charitable activities
**4**
125,535
-
-
Other trading activities
**5**
-
3,872
-
Investments
**6**
1,608
-
-
Other income
**7**
1,620
-
-
**Total income**
291,270
3,872
-
**Expenditure on:**
Raising funds
**8**
1,832
-
-
Charitable activities
**9**
271,105
8,467
146
Other
**13**
145
-
-
**Total resources expended**
273,082
8,467
146
**Net incoming/(outgoing) resources**
**before transfers**
18,188
(4,595)
(146)
**Net income/(expenditure) for the year/**
**Net incoming/(outgoing) resources**
**before transfers**
18,188
(4,595)
(146)
Gross transfers between funds
(5,000)
5,000
-
Fund balances at 1 September 2022
112,862
58,195
146
**Fund balances at 31 August 2023**
126,050
58,600
-|**Total**
**2023**
**£**
162,507
125,535
3,872
1,608
1,620
295,142
1,832
279,718
145
281,695
13,447
13,447
-
171,203
184,650|Total
2022
**£**
182,237
82,787
3,369
323
1,284| |---|---|---| |||270,000| |||1,070| |||258,793| |||-| |||259,863| |||10,137
10,137
-| |||161,066| |||171,203| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. - 5 - ## **BARNETT WOOD PRE SCHOOL** ## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **Prior financial year** |**Unrestricted Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**designated**
**2022**
**2022**
**2022**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
182,237
-
-
Income from charitable activities
**4**
82,787
-
-
Other trading activities
**5**
-
3,369
-
Investments
**6**
323
-
-
Other income
**7**
1,284
-
-
**Total income**
266,631
3,369
-
**Expenditure on:**
Raising funds
**8**
1,070
-
-
Charitable activities
**9**
250,372
7,466
955
**Total resources expended**
251,442
7,466
955
**Net incoming/(outgoing) resources before**
**transfers**
15,189
(4,097)
(955)
Gross transfers between funds
(5,000)
5,000
-
**Net income/(expenditure) for the year/**
**Net movement in funds**
10,189
903
(955)
Fund balances at 1 September 2021
102,674
57,291
1,101
**Fund balances at 31 August 2022**
112,863
58,194
146|**Total**
**2022**
**£**
182,237
82,787
3,369
323
1,284| |---|---| ||270,000| ||1,070| ||258,793| ||| ||259,863| ||10,137
-| ||10,137
161,066| ||171,203| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. - 6 - ## **BARNETT WOOD PRE SCHOOL** ## **BALANCE SHEET** ## _**AS AT 31 AUGUST 2023**_ |**Notes**
**Fixed assets**
Tangible assets
**14**
**Current assets**
Stocks
**15**
Debtors
**16**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**17**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**18**
Unrestricted funds
Designated funds
**19**
General unrestricted funds|**2023**
**£**
1,306
1,306
220,454
223,066
(61,785)
58,600
126,050|**£**
23,369
161,281
184,650
-
184,650
184,650|**2022**
**£**
1,720
1,262
192,096
195,078
(52,011)
58,194
112,863|**£**
28,136
143,067| |---|---|---|---|---| |||||171,203| |||||146
171,057| |||||171,203| 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 2023. 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 ......................... **----- Start of picture text -----**
..............................
Mr M L Tiley (Chair)
Trustee
**----- End of picture text -----**
## **Company registration number 07827217** - 7 - ## **BARNETT WOOD PRE SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **1 Accounting policies** ## **Charity information** Barnett Wood Pre School is a private company limited by guarantee incorporated in England and Wales. The registered office is 213 Barnett Wood Lane, Ashtead, Surrey, KT21 2DF. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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 2019)". The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. ## **1.4 Income** 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. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. - 8 - ## **BARNETT WOOD PRE SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **1 Accounting policies** ## **(Continued)** ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 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: Buildings 10 years straight line Fixtures, fittings & equipment 3 years straight line, 5 years straight line Computers 3 years straight line 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 the statement of financial activities. ## **1.7 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.8 Stocks** Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. ## **1.9 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.10 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**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 measured at the cash or other consideration expected to be received and not discounted. - 9 - ## **BARNETT WOOD PRE SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **1 Accounting policies** **(Continued)** ## _**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. Basic financial liabilities are subsequently measured at the cash or other consideration expected to be paid and not discounted. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **1.11 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.12 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **1.13 Debtors** Debtors and prepayments are recognised at the amount due. ## **1.14 Creditors** Creditors are recognised where the charity has a present obligation arising from a past event and the amount can be reliably measured or estimated. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. - 10 - ## **BARNETT WOOD PRE SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **3 Donations and legacies** |||**Unrestricted**|Unrestricted| |---|---|---|---| |||**funds**|funds| |||**general**|general| |||**2023**|2022| |||**£**|£| ||Donations and gifts|43|152| ||Grants receivable|162,464|182,085| |||162,507|182,237| ||**Grants receivable for core activities**||| ||Early Years grant funding|134,205|156,278| ||Other grants|28,992|25,807| ||Other|(733)|-| |||162,464|182,085| |**4**|**Income from charitable activities**||| |||**2023**|**2022**| |||**£**|**£**| ||Fees|125,535|82,787| |**5**|**Other trading activities**||| |||**Unrestricted**|Unrestricted| |||**funds**|funds| |||**designated**|designated| |||**2023**|2022| |||**£**|£| ||Fundraising events|3,872|3,369| - 11 - ## **BARNETT WOOD PRE SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **6 Investments** |**7**
**8**|**Unrestricted**
Unrestricted
**funds**
funds
**general**
general
**2023**
2022
**£**
£
Interest receivable
1,608
323
**Other income**
**Unrestricted**
Unrestricted
**funds**
funds
**general**
general
**2023**
2022
**£**
£
Other income
1,620
1,284
**Raising funds**
**Unrestricted**
Unrestricted
**funds**
funds
**general**
general
**2023**
2022
**£**
£
Fundraising and publicity
Advertising
103
-
Other fundraising costs
893
248
Fundraising and publicity
996
248
Trading costs
Other trading activities
836
822
1,832
1,070|**Unrestricted**
Unrestricted
**funds**
funds
**general**
general
**2023**
2022
**£**
£
Interest receivable
1,608
323
**Other income**
**Unrestricted**
Unrestricted
**funds**
funds
**general**
general
**2023**
2022
**£**
£
Other income
1,620
1,284
**Raising funds**
**Unrestricted**
Unrestricted
**funds**
funds
**general**
general
**2023**
2022
**£**
£
Fundraising and publicity
Advertising
103
-
Other fundraising costs
893
248
Fundraising and publicity
996
248
Trading costs
Other trading activities
836
822
1,832
1,070| |---|---|---| |||248| |||822| |||1,070| - 12 - ## **BARNETT WOOD PRE SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **9 Charitable activities** |Staff costs
Depreciation and impairment
Rent and insurance
Electricity
Phones
Maintenance and cleaning
Childrens activities and equipment
General expenses
Office expenses
Other staff costs
External suppliers - Childrens' activities
Share of governance costs (see note 10)
**Analysis by fund**
Unrestricted funds - general
Unrestricted funds - designated
Restricted funds
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Independent Examiner's
fees
-
1,164
Governance costs
-
346
-
1,510
Analysed between
Charitable activities
-
1,510|**2023**
**£**
224,343
6,861
9,961
3,237
436
6,685
15,767
2,769
891
7,058
200
278,208
1,510
279,718
271,105
8,467
146
279,718
**2023**Support costs Governance
costs
**£**
£
£
1,164
-
1,160
346
-
434
1,510
-
1,594
1,510
-
1,594|**2022**
**£**
197,436
7,359
9,961
1,730
474
20,003
11,407
4,258
929
3,442
200| |---|---|---| |||257,199
1,594| |||258,793| |||250,372
7,466
955| |||258,793| |||2022
£
1,160
434| |||1,594| |||1,594| ## **10 Support costs** Governance costs include payment to the Independent Examiner of £1,164 (2022: £1,122) for accounts preparation and independent examination. - 13 - ## **BARNETT WOOD PRE SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **11 Trustees** None of the trustees (or any persons connected with them) received any remuneration during the year. 1 trustee was reimbursed expenses to a value of £26. ## **12 Employees** The average monthly number of employees during the year was: |Management
Childcare
Admin
Total
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2023**
**Number**
2
8
1
11
**2023**
**£**
213,826
7,112
3,405
224,343|**2022**
**Number**
2
9
1| |---|---|---| |||12| |||**2022**
**£**
189,752
5,155
2,529| |||197,436| 11 (2022: 12) part time staff equate to approximately 10 (2022: 10) full time equivalents. Key Management Personnel is defined as the manager, deputy manager and office manager roles. The total remuneration of Key Management Personnel, including employer pension and national insurance contributions, was £104,038. There were no employees whose annual remuneration was more than £60,000. ## **13 Other** |**Unrestricted**
**funds**
**general**
**2023**
Net loss on disposal of tangible fixed assets
145
145|Total
£
2022
-| |---|---| ||-| - 14 - ## **BARNETT WOOD PRE SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ |**14**
**Tangible fixed assets**
**Buildings**
**Fixtures,**
**fittings &**
**equipment**
**Computers**
**£**
**£**
**£**
**Cost**
At 1 September 2022
40,520
21,359
3,753
Additions
-
969
1,423
Disposals
-
(300)
-
At 31 August 2023
40,520
22,028
5,176
**Depreciation and impairment**
At 1 September 2022
18,917
16,032
2,544
Depreciation charged in the year
4,052
2,269
686
Eliminated in respect of disposals
-
(145)
-
At 31 August 2023
22,969
18,156
3,230
**Carrying amount**
At 31 August 2023
17,551
3,872
1,946
At 31 August 2022
21,603
5,324
1,209
**15**
**Stocks**
**2023**
**£**
Finished goods and goods for resale
1,306
**16**
**Debtors**
**2023**
**Amounts falling due within one year:**
**£**
Trade debtors
(646)
Prepayments and accrued income
1,952
1,306|**Total**
**£**
65,632
2,392
(300)
67,724
37,493
7,007
(145)
44,355
23,369
28,136
**2022**
**£**
1,720
**2022**
**£**
(1,108)
2,370
1,262| |---|---| - 15 - ## **BARNETT WOOD PRE SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **17 Creditors: amounts falling due within one year** |**Creditors: amounts falling due within one year**||| |---|---|---| |Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**2023**
**£**
1,448
1,314
27,356
31,667
61,785|**2022**
**£**
1,068
1,150
24,238
25,555| |||52,011| ## **18 Restricted funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: |||**Balance at**|**Resources**|**Balance at**|**Resources**|**Balance at**| |---|---|---|---|---|---|---| ||**1**|**September**|**expended**|**1 September**|**expended**|**31 August**| |||**2021**||**2022**||**2023**| |||**£**|**£**|**£**|**£**|**£**| |Outside resources||1,101|(955)|146|(146)|-| The restricted fund is for the development of outside resources. - 16 - ## **BARNETT WOOD PRE SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **19 Designated funds** The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes: |||**Movement in funds**|**Movement in funds**|||**Movement in funds**|**Movement in funds**||| |---|---|---|---|---|---|---|---|---|---| ||**Balance at**|**Incoming**|**Resources**|**Transfers**|**Balance at**|**Incoming**|**Resources**|**Transfers**|**Balance at**| ||**1 September**|**resources**|**expended**||**1 September**|**resources**|**expended**||**31 August**| ||**2021**||||**2022**||||**2023**| ||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**| |SEN planned expenditure|3,274|-|(234)|-|3,040|-|(234)|-|2,806| |Leasehold improvement fund|23,135|-|(4,052)|-|19,083|-|(4,052)|-|15,031| |Training fund|18,297|-|-|-|18,297|-|-|-|18,297| |Fundraising fund|2,585|3,369|(3,180)|-|2,775|3,872|(4,181)|-|2,466| |Maintenance fund|10,000|-|-|5,000|15,000|-|-|5,000|20,000| ||57,291|3,369|(7,466)|5,000|58,195|3,872|(8,467)|5,000|58,600| ## **SEN Planned Expenditure** The Planned Expenditure Reserve has been set aside for children with special needs. ## **Leasehold Improvement Fund** The Leasehold Improvement Fund is to cover improvements such as the provision of a reading room and the development of the playground area. The fund will be expended in line with annual depreciation for the associated assets. ## **Training Fund** The Training Fund has been set up to provide resources for the Pre School to offer level 3 training for up to two staff a year for a period of 5 years encouraging retention through training and development. ## **Fundraising fund** The fundraising fund represents monies raised by fundraising set aside for the purchase of play equipment. ## **Maintenance fund** The Maintenance fund has been set up to provide funds for future repairs. - 17 - ## **BARNETT WOOD PRE SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **19 Designated funds** **(Continued)** ## **20 Analysis of net assets between funds** |**Analysis of net assets between funds**||| |---|---|---| |**Unrestricted**
**funds**
**Designated**
**funds**
**Restricted**
**funds**
**2023**
**2023**
**2023**
**£**
**£**
**£**
Fund balances at 31 August 2023 are represented
by:
Tangible assets
22,049
1,320
-
Current assets/(liabilities)
104,001
57,280
-
126,050
58,600
-|**Total**
Unrestricted
funds
Designated
funds
Restricted
funds
**2023**
2022
2022
2022
**£**
£
£
£
23,369
27,990
-
146
161,281
84,873
58,194
-
184,650
112,863
58,194
146|Total
2022
£
28,136
143,067| |||171,203| - 18 - ## **BARNETT WOOD PRE SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **21 Related party transactions** There were no disclosable related party transactions during the year (2022 - none). - 19 -