**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 2024**
## **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 - 18|
## **BARNETT WOOD PRE SCHOOL**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_
The trustees present their annual report and financial statements for the year ended 31 August 2024.
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.
## _Public benefit_
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**
## _Significant activities and achievements against objectives_
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 attending 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 is offering the new Working Parent Entitlement funding available for children from the term after their 3[rd] birthday, which was introduced in April 2024. This gives working parents up to 15 hours per week of funding towards the cost of early education.
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.
## **Financial review**
lncoming resources amounted to £363,729 for the year (2023: £295,142), which results in a surplus of £26,495 (2023: £13,447). £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 £57,938 (2023: £58,600).
Unrestricted reserves carried forward amount to £153,207 (2023: £126,050).
- 1 -
## **BARNETT WOOD PRE SCHOOL**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## _Reserves policy_
The trustees' current reserves policy is to maintain sufficient financial reserves which are no less than 6 months’ of running costs. However, operating in excess of this is considered prudent at this time when considering the increased costs and uncertainty over the impact that the new Working Parent Entitlement will have on the setting’s overall finances.
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. Therefore, to ensure the continued viability of the setting, we have no option but to ask charge funded children a ‘sustainability fee’ to cover the cost of consumables as well as holding 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 the National Living Wage and employer’s National Insurance rates will continue to impact the setting’s finances.
## _Major risks_
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)
## _Recruitment and appointment of trustees_
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.
## _Organisational structure_
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 2024
The trustees, pOrt was approved by the Board of Truste8S.
Mr M L Tiley (Ch
Trustse
Date: ......
BARNETT WOOD PRE SCHOOL
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BARNETT WOOD PRE SCHOOL
I report to the truslees on my examination of the financial stateménts of Barnett Wood Pre School (the charity) for
the year ended 31 August 2024.
Responsibilities and basls of report
As the trustees of the charity land 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 slatements of the charity are not required to be audited under Part 16 of
the 2006 Act and are eligible for independent examinalion, I report in respect of my examination of the charity's
financial statements carried OLrt under seclion 145 of the Charities Act 2011 (the 2011 Act). In carrying out my
examination I have followed all the applicable Directions given by the Charity Commission under sedion 145{5)(b}
of the 2011 Act.
Independent examinerfs statement
Since the charity's gross income exceeded £250.000 your examiner must be a member of a body listed in section
145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the
Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm Ihat no matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect=
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or
the financial statèments do not accord with those records- or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other
than any requirement that the accounts give a true and fair view which is not a matter considered as part of an
independenl examination., or
the financial statements have not been prepared in accordance with the methods and principlos of the
Statement of Recommended Practice for accounting and reporting by charilies applicable to charities
preparing their accounts in accordan 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 connectlon wlth the examination to which attention
should be drawn in Ihis report in order to enable a proper understanding of the financial slatemenls to be reached.
Frances Wilde FCCA DChA
Warner Wilde
Chartered Certified Accountants
4 Marigold Drive
Bisley
Surrey
GU24 9SF
12 LalS-
## **BARNETT WOOD PRE SCHOOL**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
|**Current financial year**
**Unrestricted**
**Unrestricted**
**funds**
**funds**
**general**
**designated**
**2024**
**2024**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
227,396
-
Charitable activities
**4**
124,815
-
Other trading activities
**5**
-
3,665
Investments
**6**
4,372
-
Other income
**7**
3,481
-
**Total income**
360,064
3,665
**Expenditure on:**
Raising funds
**8**
1,311
-
Charitable activities
**9**
326,596
9,327
Other expenditure
**14**
-
-
**Total expenditure**
327,907
9,327
**Net income/(expenditure)**
32,157
(5,662)
Transfers between funds
(5,000)
5,000
**Net movement in funds**
**11**
27,157
(662)
**Reconciliation of funds:**
Fund balances at 1 September 2023
126,050
58,600
**Fund balances at 31 August 2024**
153,207
57,938|**Total**
**2024**
**£**
227,396
124,815
3,665
4,372
3,481
363,729
1,311
335,923
-
337,234
26,495
-
26,495
184,650
211,145|**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|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 5 -
## **BARNETT WOOD PRE SCHOOL**
## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
|**Prior financial year**
**Unrestricted**
**Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**designated**
**2023**
**2023**
**2023**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
162,507
-
-
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 expenditure
**14**
145
-
-
**Total expenditure**
273,082
8,467
146
**Net income/(expenditure)**
18,188
(4,595)
(146)
Transfers between funds
(5,000)
5,000
-
**Net movement in funds**
**11**
13,188
405
(146)
**Reconciliation of funds:**
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|
- 6 -
## **BARNETT WOOD PRE SCHOOL**
## **BALANCE SHEET**
## _**AS AT 31 AUGUST 2024**_
|||**2024**||**2023**||
|---|---|---|---|---|---|
||**Notes**|**£**|**£**|**£**|**£**|
|**Fixed assets**||||||
|Tangible assets|**16**||19,098||23,369|
|**Current assets**||||||
|Stocks|**17**|1,453||1,306||
|Debtors|**18**|3,821||1,306||
|Cash at bank and in hand||276,599||220,454||
|||281,873||223,066||
|**Creditors: amounts falling due within**|**19**|||||
|**one year**||(89,826)||(61,785)||
|**Net current assets**|||192,047||161,281|
|**Total assets less current liabilities**|||211,145||184,650|
|**The funds of the charity**||||||
|Unrestricted funds - general|**23**||153,207||126,050|
|Unrestricted funds - designated|**21**||57,938||58,600|
||||211,145||184,650|
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 2024.
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 **4** 76.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
ere approved by the trustees on ..5th March 2025... ..
**Trustee**
Company registration number 07827217 (England and Wales)
-7-
## **BARNETT WOOD PRE SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **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 or grantors 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 2024**_
## **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 2024**_
## **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 2024**_
## **3 Income from donations and legacies**
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2024**|**2023**|
|||**£**|**£**|
||Donations and gifts|67|43|
||Grants|227,329|162,464|
|||227,396|162,507|
||**Grants**|||
||Early Years grant funding|194,751|134,205|
||Other grants|32,578|28,259|
|||227,329|162,464|
|**4**|**Income from charitable activities**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2024**|**2023**|
|||**£**|**£**|
||**Charitable activities**|||
||Fees|124,815|125,535|
|**5**|**Income from other trading activities**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**designated**|**designated**|
|||**2024**|**2023**|
|||**£**|**£**|
||Fundraising events|3,665|3,872|
|**6**|**Income from investments**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2024**|**2023**|
|||**£**|**£**|
||Interest receivable|4,372|1,608|
- 11 -
## **BARNETT WOOD PRE SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **7 Other income**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|Other income|3,481|1,620|
**8 Expenditure on raising funds**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|**Fundraising and publicity**|||
|Advertising|18|103|
|Other fundraising costs|781|893|
||799|996|
|**Trading costs**|||
|Other trading activities|512|836|
|Total costs|1,311|1,832|
- 12 -
## **BARNETT WOOD PRE SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **9 Expenditure on charitable activities**
|||**Charitable**|**Charitable**|
|---|---|---|---|
|||**activities**|**activities**|
|||**2024**|**2023**|
|||**£**|**£**|
||**Direct costs**|||
||Staff costs|269,157|224,343|
||Depreciation and impairment|6,613|6,861|
||Rent and insurance|9,553|9,961|
||Electricity|4,118|3,237|
||Phones|503|436|
||Maintenance and cleaning|16,340|6,685|
||Children's activities and equipment|13,361|15,767|
||General expenses|7,991|2,769|
||Office costs|1,108|891|
||Other staff costs|5,463|7,058|
||External suppliers - Children's activities|255|200|
|||334,462|278,208|
||**Share of support and governance costs (see note 10)**|||
||Governance|1,461|1,510|
|||335,923|279,718|
||**Analysis by fund**|||
||Unrestricted funds - general|326,596|271,105|
||Unrestricted funds - designated|9,327|8,467|
||Restricted funds|-|146|
|||335,923|279,718|
|**10**|**Support costs allocated to activities**|||
|||**2024**|**2023**|
|||**£**|**£**|
||Governance costs|1,461|1,510|
||**Analysed between:**|||
||Charitable activities|1,461|1,510|
|||**2024**|**2023**|
||**Governance costs comprise:**|**£**|**£**|
||Independent Examiner|1,200|1,164|
||Other governance costs|261|346|
|||1,461|1,510|
- 13 -
## **BARNETT WOOD PRE SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
|**11**|**Net movement in funds**|**2024**|**2023**|
|---|---|---|---|
|||**£**|**£**|
||The net movement in funds is stated after charging/(crediting):|||
||Depreciation of owned tangible fixed assets|6,613|7,007|
||Loss on disposal of tangible fixed assets|-|145|
## **12 Trustees**
None of the trustees (or any persons connected with them) received remuneration during the year. 2023: none.
None of the trustees received reimbursement of expenses during the year. 2023: 1 trustee was reimbursed £26.
## **13 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|**2024**
**Number**
2
9
1
12
**2024**
**£**
236,138
9,330
23,689
269,157|**2023**
**Number**
2
7
1|
|---|---|---|
|||10|
|||**2023**
**£**
213,826
7,112
3,405|
|||224,343|
17 (2023: 11) part time staff equate to approximately 12 (2023: 10) full time equivalents.
There were no employees whose annual remuneration was more than £60,000.
## **Remuneration of key management personnel**
Defined as the manager, deputy manager and office manager roles.
||**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|Aggregate compensation|112,250|104,038|
- 14 -
## **BARNETT WOOD PRE SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **14 Other**
|Net loss on disposal of tangible fixed assets|**Total**
Unrestricted
funds
**£**
general
**2024**
2023
-
145
-
145|**Total**
Unrestricted
funds
**£**
general
**2024**
2023
-
145
-
145|
|---|---|---|
|||145|
## **15 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **16 Tangible fixed assets**
|**Buildings**
**Fixtures,**
**fittings &**
**equipment**
**Computers**
**£**
**£**
**£**
**Cost**
At 1 September 2023
40,520
22,028
5,176
Additions
-
2,483
-
Disposals
-
(464)
-
At 31 August 2024
40,520
24,047
5,176
**Depreciation and impairment**
At 1 September 2023
22,969
18,157
3,231
Depreciation charged in the year
4,052
1,568
993
Eliminated in respect of disposals
-
(325)
-
At 31 August 2024
27,021
19,400
4,224
**Carrying amount**
At 31 August 2024
13,499
4,647
952
At 31 August 2023
17,551
3,872
1,946
**17**
**Stocks**
**2024**
**£**
Finished goods and goods for resale
1,453|**Total**
**£**
67,724
2,483
(464)|
|---|---|
||69,743|
||44,357
6,613
(325)|
||50,645|
||19,098|
||23,369|
||**2023**
**£**
1,306|
- 15 -
## **BARNETT WOOD PRE SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
|**18**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income
**19**
**Creditors: amounts falling due within one year**
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
**20**
**Retirement benefit schemes**
**Defined contribution schemes**
Charge to profit or loss in respect of defined contribution schemes|**2024**
**£**
1,734
2,087
3,821
**2024**
**£**
3,842
3,128
37,169
45,687
89,826
**2024**
**£**
23,689|**2023**
**£**
(646)
1,952
1,306
**2023**
**£**
1,448
1,314
27,356
31,667
61,785
**2023**
**£**
3,405|
|---|---|---|
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
- 16 -
## **BARNETT WOOD PRE SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **21 Unrestricted funds - designated**
These are unrestricted funds which are material to the charity's activities.
||**At 1**|**Incoming**|**Resources**|**Transfers At 31 August**|**Transfers At 31 August**|
|---|---|---|---|---|---|
||**September**|**resources**|**expended**||**2024**|
||**2023**|||||
||**£**|**£**|**£**|**£**|**£**|
|Fundraising Fund|2,806|-|(358)|-|2,448|
|Leasehold Improvement Fund|15,031|-|(4,052)|-|10,979|
|Training Fund|18,297|-|-|-|18,297|
|SEN Planned Expenditure|2,466|3,665|(4,917)|-|1,214|
|Maintenance Fund|20,000|-|-|5,000|25,000|
||58,600|3,665|(9,327)|5,000|57,938|
|**Previous year:**|**At 1**|**Incoming**|**Resources**|**Transfers At 31 August**||
||**September**|**resources**|**expended**||**2023**|
||**2022**|||||
||**£**|**£**|**£**|**£**|**£**|
|Fundraising Fund|3,040|-|(234)|-|2,806|
|Leasehold Improvement Fund|19,083|-|(4,052)|-|15,031|
|Training Fund|18,297|-|-|-|18,297|
|SEN Planned Expenditure|2,775|3,872|(4,181)|-|2,466|
|Maintenance Fund|15,000|-|-|5,000|20,000|
||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 2024**_
## **22 Analysis of net assets between funds**
|**Unrestricted**
**Unrestricted**
**funds**
**funds**
**general**
**designated**
**2024**
**2024**
**£**
**£**
**At 31 August 2024:**
Tangible assets
18,508
590
Current assets/(liabilities)
134,699
57,348
153,207
57,938
**Unrestricted**
**Unrestricted**
**funds**
**funds**
**general**
**designated**
**2023**
**2023**
**£**
**£**
**At 31 August 2023:**
Tangible assets
22,049
1,320
Current assets/(liabilities)
104,001
57,280
126,050
58,600|**Total**
**2024**
**£**
19,098
192,047|
|---|---|
||211,145|
||**Total**
**2023**
**£**
23,369
161,281|
||184,650|
## **23 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1**|**Incoming**|**Resources**|**Transfers At 31 August**|**Transfers At 31 August**|
|---|---|---|---|---|---|
||**September**|**resources**|**expended**||**2024**|
||**2023**|||||
||**£**|**£**|**£**|**£**|**£**|
|General funds|126,050|360,064|(327,907)|(5,000)|153,207|
|**Previous year:**|**At 1**|**Incoming**|**Resources**|**Transfers At 31 August**||
||**September**|**resources**|**expended**||**2023**|
||**2022**|||||
||**£**|**£**|**£**|**£**|**£**|
|General funds|112,862|291,270|(273,082)|(5,000)|126,050|
## **24 Related party transactions**
There were no disclosable related party transactions during the year (2023 - none).
- 18 -