REGIsfERED COMPANY NUMBER: 07916241 (England and Wales) REGIsfERED CHARITY NUMBER: 1146542 Trustees. Report and Financial Statements for the Year Ended 31 August 2024 The Aldershot Garrison Pre-sthool Settings
The Aldershot Garrison Pre-school Settings Contents of the Financial Ststements for the Year Ended 31 August 2024 Page Trustees, Report I to 9 Report of the Independent Auditors 10 to 13 Statement of Financial Activities 14 Statement of Financial Position 15 Statement of Cash Flows 16 Notes to the Statement of Cash Flows 17 Notes to the Finanaal Statements 18 to 25
The Aldershot Garrison Pre-school Settings {Registered number: 07916241) Trustees. Report for the Year Ended 31 August 2024 The trustees who are also directors of the charTty for the purwses of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of Accounting and Reporting by Chartties: Statement of Recommended practi applicable to charities preparing their accounts in accordance with the Financial RertIng Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJEcfIvES AND AcrIvrrIES Objectives and aims The objertives of the charity as set out in the companys articles of ass(xiation are to: provide non-public day nursery facilities and non-publidy funded early years education for children under five years of age of seNice personnel and qualifying civilian staff; enhance the development and education of children primarily under the statutory school age by wothng in partnership with parents to understand and provide for the needs of their children. Children aged 2, 3 and 4 years are able to acces5 free earfy years education through govemment fvnding. For the purposes of this d(tument seNice personnel shall mean serving unifomied personnel of the armed forces of the Crown and qualifying civilians shall mean rsonnel who are wholly or mainly engaged in activities which directly support the seNing personnel of the Aldershot Ganison. The objectives are achieved through the operation of I nursery and 2 pre-schools setknngs in the vicinity of the Aldershot Garrison. We will achieve the chartty's objecttves by wothng dosely wtth the Chief Executive and individual setttngs managers to maintsin stringent Human Resource practices to ensure that we comply across the board with all local government standards and standards set by Otsted. By achieving these targets, we will ensure that our military families are provided with outstsnding nursery care at an affordable rate which CoMeS Strong wrth the local mart(et. Page I
The Aldershot Garrison Pre-school Settings {Registered number: 07916241) Trustees. Report for the Year Ended 31 August 2024 OBJEcfIvES AND ACtIvtrIES Significant activities, achievement and perforniance Chief Executive Julie Mounfield has seryed in her role for nea four years. Over the past year, all three settings have continued to experience significant and tK)Sitive transfomiations. Clocktower Pre-sdiool and School Club Transition In August 2023, a new Manager and Deputy Manager were appointed at C1kt0wer Pre-school, offficially starting their roles in SeptemLer 2023. One of the key challenges during the year was the operation of the aocktower School aub, which faced substantial financial losses eath month due to low attendance from local schools. Addits'onally, staffing shortages made it increasingly difficult to sustain the breakfrdst and after-schcK)I supwrt. To address these challenges, the Chief Execubve conducted consultations with parents and local schools to explore the best ways to support militsry families. Following these discussions, rt was detemiined that the club would close in July 2024. From September 2024, Madborough Sch(x)I will assume responsibility for its own breakfast and after-sch(K)I club, ensuring continued support for families in the community. Queen Mary's Nursery Uate A Deputy Manager has been aptx)inted at Queen Mary's Nurseryi however, retaining individuals in this full-time role remains a challenge due to the demanding nature of the positi'on. The nursery continues to experien growth, with an increasing number of children attending ftjll-time, year-round. While there is currently a waiting list, recrutting full-time staff to meet this demand has proven difficult. Despite these challenges, Queen Mary's Nursery recenuy underwent a successful Otsted inspectton as part of the routine review process. The staff performed exceptionally well, and we were delighted wrth the positive feedback received. Toye Box Update In january 2024, a new Manager and Deputy Manager commenced their roles at Toye Box. The Pr&school is currently operating at full capacity, with a waiting list for new admissions. This year, 800/0 of the children enrolled are from Nepalese backgrounds. To supwrt families where English proficiency is limited, we are fortunate to have a qualified Nepalese Early Years Practttioner on staff, who is committed to assisting both children and their families in navigating language balers. The settings numbers of children were as follows: Clocktower {Ct) Sept 23- 52 children July 24: 72 children Queen Mary's Nursery (QMN) Sept 23- 67 children July 24: 77 children ToyeBox Pre-school (TB) Sept 23- 75 children July 24: 84 children The perntage of children at the period end whose parents are military are as follows for each of the settings. QMN- 65010 (2023- 76 % ) TB: 71010 (2023.. 84010) 720/0 (2023- 810/0) Organisational Updates (September 2023 - August 2024) Several key changes have been implemented over the past year to enhan operab'onal efficiency and support across all settings- Page 2
The Aldershot Garrison Pre-school Settings {Registered number: 07916241) Trustees. Report for the Year Ended 31 August 2024 OBJEcfIvES AND ACtIvtrIES The Chief Executive has continued to utilise Peninsula HR servIs, which have proven to be an invaluable resour for managers. Additionally, access to Croner-i, an affiliate of Peninsula, has been secured. Croner-i provides comprehensive policies and essential infomiation to support the settings. All managers continue to use BrightHR, whith remains an essential t1 for HR management, employment guidance, and health and safety advice. -Policies are wiitten and updated by the Chief Executive on a regular basis. Implemented by the setting manager. -The Garrison Fire Safety Officer has been to Visit each of the seth'ngs to ensure that we are compliant. These visits have highlighted some minor concerns and we now have a txx)k to complete daily and monthly checks, with the Garrison safety officer visiting lce per year. -our staff recognition scheme continues to be well received and staff do appreciate 3 hours off wort( for free if staff have been nominated for going aLK)ve and beyond in their role. This is voted by peer nominations. -we offer paid annual leave on staff birthdays, stsff have completed their probation period. - We offer a staff shopping half day at Christmas as recognibon for hard work throughout the year. Trustees agreed to reward all staff with a £30 voucher for Christmas to say thank you, this was very well received by all staff. Support staff received a £10 voucher and gift pack. As an incentive to all our staff to continue wtth ContinLK)us Professional tkvelopment (CPD) if they complete 5 hours of Nocxjle Now Courses online they will receive 3 hours TOIL as recogniti'on. -All managers and deputies who regularfy work at computers receive a yearfy Corate eye test voucher. -The staff handbook is reviewed and updated ternily by the chief Executive, all staff must sign and date to acknowledge they have read and understand. -All staff contratts continuously reviewed with a 6 month probation ncKj and 8 weeks, noti period on resignation. -Garrison Standing Order and Business Continuty plan written and published with Aldershot Garrison Headquarters. -we continue to offer the Employee Assistance pr(yJramme - free for all stsff to use, this is to supw)rt them professionally or personally. This is a perk for staff and is completely confidential. -continued with our quarterly advertising in the Ganison magazine, all managers write artides each term. -Increased social media presence, this is updated da1 and has heltEd build the reputstion of the chaiity. -website is continually being reviewed and UFKlated. -managers, stsff and children are going on BFBS Trdio bi-monthly to promote their setb'ngs. -First Aid training for all staff completed. Provided parents cesS to First Aid on-line training for free. -Enhanced Safeguarding training completed for all Managersldeputies and supwrt Staff. -Tighter/fairer prosseS have tEen lntr¢uced with regards to recwits'ng and inteNiewing. -we no longer use agency staff, we currendy have 8 'supFOrt staff who WO for us at short notice if required. -Each setting is responsible for organising their own fundraising, this indudes sponsored walks, photographer, Christmas jumper dayi etc. The settings have done very well with this and have been able to use these funds to buy equipment for their setting. -Regular managers meeb'ngs continue to ensure our managers feel valued and 5UPPOrted. Page 3
The Aldershot Garrison Pre-school Settings {Registered number: 07916241) Trustees. Report for the Year Ended 31 August 2024 OBJEcfIvES AND ACtIvtrIES -Annual performance reviews and bi-monthly meetings continues for all stsff, this is audtted by the Chief Executive. -The trustees agreed that staff would receive a payrise in line wtth the national living wage from April 2024. -Introduced a referral bonus for staff for current stsff rf they brought in a qualified level 3 prartitioner and that stsff member passed their probation. We will offer £500. -Introduced 50010 Staff discount for Childcare based on the days the staff attend. Calculates to IOO/o per worf(ing day - I day per week - IO¥o 2 days per week - 200/0 3 days per week - 300/0 4 days per week - 40010 5 days per week - 500/0 Delivering public benefit The charity provides public benefit through the provision and supwt of day care and earfy years education, in accordan with Ofsted regulations and standards, for children under 5 years of age, of serving uniformed members of HM forces and qualifying civilian staff employed in supwrt of Aldershot Garrison. This is done in order to support and give Confiden to parents by delivering high qualty and tr)tally reliable day care and early years education service. Militsry personnel are required to serve in operab'onal circumstan$ at short nots'ce and for prolonged periods and the services undertaken by the charity allows rSonnel to execute their duties. a result, the charity provides support to their dependants and develops and maintsins morale and communty cohesion. The trustees have paid due regard to the Charity Commission of England and Wales guidan on public benefit when deciding what activities the charity should undertake. FINANCIAL REVIEW Financial position Gross incoming resources for the year amounted to £1,317,105 (2023-. £1,306,095), including £1,293,291 (2023- £1,287,304) received in fees and Early Years Funding across the three setb'ngs. Expenditure in the year amounted to £1,201,053 {2023: £1,149,464) of which £1,012,447 (2023: £958,496) related to staff salaries, pension and employers NIC. The main outgoings are staff costs that rdate direcdy to the provision of childcare and early years education. Stsff costs represent 84¥0 (2023.. 83%) of total costs. The chartty occurs minimal administration costs and again in this period, did not incur any premises costs. There is a standing order with the Garrison for continued use of the buildings free of charge with relation to rent, rates, utiltbes and maintenance. The trustees have continued to ensure that all settings are fitted with modern furnishings and play aids that challenge and sb'mulate children's leaming and development. The net retained funds at the year-end were £877,965 (2023: £739,840), with a total of £405,565 (2023.. £307,650) held in the designat&Y fund representing the RathLK)nes FY)rtfolio in line with the reserve tK)Iicy. Following the introduction of the Chief Executive, subw4uent costs savings have been made and the level of children increased at the settings. Results have improved and reseryes rebuilt. The Trustees, aim going fOard are of making a small surplus. Principal sources of income Local authority Eady Years Education Grants account for 58010 (2023: 58%) of all pre-school income. Only parents of the children that do not qualify for grants for those attending in excess of the funded hours are charged fees. At Queen Marys Nursery, which cares for thildren aged between 3 months and prsCh(K)I age on a full time day care basis, the Early Years Education Grant accounts for 32010 (2023: 29%) of income. Research shows that fees charged to parents are significantty lower than those charged by private nurseries in the local area and lower than nurseries in other garrison areas and therefore continue to offer value for money to parents. At the discretion of the trustees, fees can waived on the grounds of welfare needs. Page 4
The Aldershot Garrison Pre-school Settings {Registered number: 07916241) Trustees. Report for the Year Ended 31 August 2024 FINANCIAL REVIEW Investment policy and performance Investment activities are managed in line with the requirements of the Twstee Act 2000. The trustees have appointed Rathbones PIC as Investment Manager. The charity's investment wlicy is a low to medium-risk approach for the growth of the portfolio of investments. The Investment Manager has totsl discretion conceming which investments are bought or sold within the risk profile set by the trustees. During the year the charity altered its investment strategy, opting to invest solely into a Rathbones managed collective investment fund to fc(us on capital growth. Income is reinvested back into the fund. The investment portfolio is seen as a long-temi investment. As at 31 August 2024 the tK)rtfolio was valued at £405,565 (2023: £307,650) with a total realised and unrealised gain of £22,073 (2023: Loss of £5,474) on the portfolio. The charity also received £9,664 (2023: £8,041) of investment income from the fund during the year. Reserves policy The trustees, reserve policy is to have a level of reseryes, equating to at least 3 months average operats'ng costs. Based on these financial statements, this is approximately £300,000. This excludes the RathtKJnes Investment Fund which is designat&J to be held for capitsl growth and future use for one-off costs or special projects. It is acknowledged that current charity reseNes are above this but it is proposed that this is used to fund part of the future cost increases such as the employerfs national insurance rate rise to limit fee increases and help cover the early years funding gap arising from the extension of free childcare. PLANS FOR FUTURE PERIODS We are looking to increase numbers in the baby unit at Queen Mary's Nursery. There is a waiting list but are struggling to recruit full-time qualified staff. This is consistent with issues of recNitment across the childcare sector. We would like to consider the 1ntrcUction of branded unifornis for the children. The plan going forward is to improve results by continuing efficiency gains and to maintain, and increase where possible, the level of children at settings, in order to achieve a small surplus. Also to reduce our level of debtors. We now have an app for parents to use so they can see their bill on their phone and have improved our credit control procedures. The aim is to tum the chartty into a susSful business atKI to use monies made to invest in the staff with fair wages, suitable training, and adequate sUPPOrt etc and to ensure our buildings are ave stsndard with exciting, stimulating resources to enhance all the children who attend and to ensure we can adequately meet their need in accordance with the charity's objectives as set out in its artides of associab'on. We have also intrcxjuced a consumable fee to all parents from September 2024. Consultstion evenings have taken place with parents at all three settings. STRucfuRE, GOVERNANCE AND MANAGEMENT Governing document The organisation is a limited companyi limited by guarantee and holding tharitable ststus. The company was established under a Memorandum of Ass(Kiation which esiablished the objects and powers of the charitable company and is governed under its Articles of Assla0n. Page 5
The Aldershot Garrison Pre-school Settings {Registered number: 07916241) Trustees. Report for the Year Ended 31 August 2024 STRucfuRE, GOVERNANCE AND MANAGEMENT Recruitment and appointment trustees The direttors of the company as defined by company law are also the chaiity's tnjstees for the pU)0seS of charity law and under the company's Articles are known as the trust and are referred to as trustees only throughout these accounts. The trustees of the company are found from the Offir5 filing relevant on the staff of HQ Aldershot GalSOn, along with trustee presentatIOn from parents and staff. Under the requirements of the Artides of Association the trustees must comprise the following: a) at least one member of the Garrison. b) at least one parent tnjstee; and c) such other individuals as are co-opted by the trustees. Following confirmation from 0FED, pant trustees are no longer tIng apTK)inted at the Charity Commission and Companies House. We introduced the following to ensure suitstle candidates are given resFonsibilities for the running of the nursery settings- -Personal Bio -Interview by Chairls -Taken to trustee committee for approval -DBS checks -EY2 forms -RefenCeS -Trustee Guides (Charity Commission guidance TOR) In the event of the company being wound up, trustees are required to contribute an amount not greater than £10. The trustees who served during the year and up to the date of this rert, are set out on page 8. All trustees give their time voluntarily and received no beneffts from the tharity during the year for perfomiance of their duties as trustees. Decision making The Chief Executive has overall financial authortty and meets wtth the trustees once a terni. The running of the nurseries has been delegated to the managers, with support and guidan from the Chief Executive. The current Chief Execub've apkK>inted in October 2020, is Julie Mounfield. Trustees are responsible for setting the pay of Key Management Per9)nnel. Page 6
The Aldershot Garrison Pre-school Settings {Registered number: 07916241) Trustees. Report for the Year Ended 31 August 2024 STRucfuRE, GOVERNANCE AND MANAGEMENT Risk management The trustees have conducted a review of the major risks to which the chaty is exposed and where appropriate, systems or procedures have been established to mitigate the risks the chartty frdces. All staff members are required to comply with written policies that are common to all settings. Copies of kK>licies are available to all parents. Policies are regularly reviewed to ensu that they reflect the latest leglslationlguidan and current child care practices. Decisions on matters falling outside these policies are referred by superyisors to the Chief Executive and if necessary to the trustees. The Chief Executive meets gUlarlY with the Nursery and Pre-h0O15 Managers where policies, problems, training and plans are discussed. These meeb'ngs also give the opwrtunty to identify and permeate practi. Written policies indude.. Absen Policy Admissions Policy Babysitting/Childminding Policy Behaviour Management Biting Policy Complaints Procedure Confidentialty Policy Debt Policy Elertronic and Telephonic Communications Policy Emergency Threat pr(edUre Equality, Diversity and Indusion Policy Equipment and Resources Policy Food and Drink Policy General Data Protecbon Policy Health and Safety Poli Illness and Exclusion Policy Lost Child Policy Medication Policy Nappy Changing Poli Non-collection of Children Policy One to One Policy Parental Invofvement Policy Physical Handling Policy Rest and Sleep Policy Safeguarding Children Policy Settling In Policy Smoking Policy Snow Closure Stsff Conduct and Code of Practice Policy Social Networking Policy Special Educational Needs/Disability Policy Staffing and Employment Policy Stsff Absence Staff Code of Condurt Student Plament Policy Sun Safety Policy Whistle Blowing Policy Otsted regulation All settings are subject to inspection by Ofsted. The latest retK)rts can be viewed at www.otsted.gov.uk/reports. The Chief Executive and Settings Managers have established gcod working relationships wrth Otsted, and the departments at Hampshire County Council and Hart and Rushmoor Borough Council restK)nsible for Early Years Education, child care provision, Eady Years support stsff, local children'5 centres and children's sc(ial care. REFERENCE AND ADMINIStRATIVE DAILs Registered Company number 07916241 (England and Wales) Page 7
The Aldershot Garrison Pre-school Settings {Registered number: 07916241) Trustees. Report for the Year Ended 31 August 2024 Registered Charity number 1146542 Registered office 27 Middle Hill Aldershot Hampshire GUII IPL Trustees K Bayliss - (appointed 22111118) D A Betts- (appointed 27111120) G P Bell (appointed 11101123) J A Gasknn (appointed III01123 - resigned 19101125) D Nicholl (appointed 01103122) S L Stephenson {previously Magee} (appointed 19103120) G B Silk (appointed 11/01123 - resigned 0611112023) Auditors Butt Miller Chartered Accountants and Ststutory Auditor l Minster Court Tuscam Way caMr1eY Surrey GU15 3YY Bankers Holt's Military Banking 200 Fowler Avenue Fowler Business Park Farnborough Hampshire GU14 7JP Advisers Investment Mana ers Rathbones Investment Management Port of Liverpool Building Pier Head Liverpool L3 INW ment law and health & saf Peninsula Business servIs The Peninsula Virtoria Place Manchester M4 4FB consultsnts The charity also uses the following working names- Toye Box Earfy Years Centre Queen Mary Nursery Clocktower House Pre-school srATEMENT OF TRUStEES' RESPONSIBILThIES The trustees (who are also the directors of The Aldershot Garrison pr&hl Settings for the purposes of company law) are responsible for preparing the Tru5tees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Page 8
The Aldershot Garrison Pre-school Settings {Registered number: 07916241) Trustees. Report for the Year Ended 31 August 2024 srATEMENT OF TRUStEES' RESPONSIBILThIES - continued Company law requires the tnjstees to prepare financial statements for each financial year which give a tnje and fair view of the state of affairs of the charitsble company and of the incoming resources and application of resources, induding the income and expenditure, of the chaiitable company for that period. In preparing those financial statements, the trustees are required to selert suitable accounting tK)licies and then apply them consistendy- obseNe the methcmjs and principles in the Charity SORP. make judgements and estimates that are reasonable atKi prudent; prepare the financial statements on the going concern basis unless fc is inappropriate to presume that the charitsble company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with rea)nable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charstsble company and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: there is no relevant audit infomiation of which the chartsble company's auditors are unaware; and the trustees have tsken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that infomiation. This report has tEen prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the LK)ard of trustees on 15 May 2025 and ggned on its tEhalf by: D Nicholl - Trustee Page 9
Report of the Independent Auditors to the Members of The Aldershot Garrison Pre-sthool Settings Opinion We have audited the financial statements of The Aklershot Garrison Pr&()1 Settings (the 'charitable company,) for the year ended 31 August 2024 which comprise the Ststement of Financial Acknvits'es, the Ststement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements- give a true and fair view of the state of the chaiitable companvs affairs as at 31 August 2024 and of its incoming resources and application of reSoUrs, including its income and expenditure, for the year then end&Y" have been properly prepared in accordance with United Kingdom General Accepted Accounts'ng Practice. and have been prepared in accordan with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Stsndards on Audits'ng (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors. responsibilities for the audit of the financial ststements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, induding the FRCS Ethical Standard, and the provisions available for small entities, in the circumstsnces set out in note 21 to the financial statements, and we have fulfilled our other ethical responsibiltties in accordance wtth these requirements. We believe that the audit evidence we have obtsined is sufficient and appropnate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertaints'es relating to events or conditions that, individually or collectively, may cast significant doubt on the charttable company's abilty to continue as a going concern for a period of at least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the resFonsibilities of the trustees wtth respect to going concern are described in the relevant sections of this report. Other information The trustees are responsible for the other information. The other infomiation comprises the infomiation included in the Annual Report, other than the financial statements and our RetK)rt of the Independent Audttors thereon. Our opinion on the financial statements does not cover the other infomiation and, except to the extent otheiSe explicitly stated in our report, we do not express any fom of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent wtth the financial statements or our knowledge obtsined in the audit or othe1$e appears to be materially misstated. If we identr'fy such material inconsistencies or apparent material misstatements, we are required to detemiine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perfomed, we conclude that there is a material misstatement of this other infomiation, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the infomiation given in the Trustees, Rep for the financial year for which the financial statements are prepared is consistent with the financial statements; and the TrusLees' Report has LEen prepared in accordan wtth applicable legal requirements. Page 10
Report of the Independent Auditors to the Members of The Aldershot Garrison Pre-sthool Settings Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material mithtements in the Trustees, Report. We have nothing to rekK>rt in respect of the following matters where the Companies Act 2006 requires us to rekTh)rt to you if, in our opinion- adequate accounting records have not been kept or retums adequate for our audit have not bn received from branches not visited by us- or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration stlfied by law are not made" or we have not received all the information and explanations we require for our audit. or the trustees were not entitled to tske advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the twstees, Report. Responsibilities of trustees As explained more fully in the Statement of Trustees, ResFX)nsibilibes, the trustees (who are also the directors of the charitable company for the poSe5 of company law) are reswnsible for the preparats'on of the financial statements and for being satisfied that they give a true and frdir view, and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In pparIng the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters rela to going concern and using the going concem basis of accounting unless the trustees either intend to liquidate the chartLable company or to ase operations, or have no realistic alternative bLrt to do so. Page 11
Report of the Independent Auditors to the Members of The Aldershot Garrison Pre-sthool Settings Our responsibilities for the audit of the finanaal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Rep)rt of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detett a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably eXpted to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capatle of detecbng iegUla'e5, including fraud is detailed below: In identifying and assessing risks of material misstatement in respect of Iegula17tie5, including fraud and non-compliance with laws and regulations, we considered the following- - The nature of the industry and sector the charity is in, ts control environment and business performance including the design of the charities policies and staff remuneration. Results of our enquiries of management about their own idenb'fication and assessment of the risks of irregularities. Any matters we identified having obtained and reviewed the chartty's d(xumentation of their tx)licies and pr(Kedures relating to: identifying, evaluating and complying wtth laws atKI regulations and whether they were aware of any instances of noncompliance. - detecting and restK)nding to the risks of fraud and whether they have knowledge of any actual, susperted or alleged - the internal controls established to mttigate risks of fraud or non-compliance wtth laws and regulations; and - The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures, we considered the opwrtunities and inntiveS that may exist within the organisation for fraud. In common with all audits under ISA5 (UK), we are a19) required to perfomi specific prc(edures to respond to the risk of management override. Our procedures to respond to risks identified induded the following: Enquiries of management and staff induding conmIng actual and wtential litigation and claims and any instances of non-complian with laws" Performing analytical procedures to identify any unusual or Unex[ec relationships that may indicate risks of material misstatement due to fraud- Obtsined an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of provisions. and In addressing the risk of fraud through management override of controls, tesbng the appropriateness of journal entries and other adjustments. checking intemal controls are ting followed are as per tts tx)licies and assessing suitabilty; assessing the judgements made in makn'ng accounb.ng esb'mates; and evaluating the business rationale of any significant transactions that are unusual or outside the nomal course of business. There are inherent limitations in the audit pr(edureS deScrild alx)ve. We are less likdy to become awa of instances of non-compliance with laws and regulations that are not dose rdated to events and transactions refiected in the financial statements. Aso, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliterate concealment by, for example, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities for the audtt of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uvauditorsresponsibilities. This descnptson fomis part of our Report of the Independent Auditors. Page 12
Report of the Independent Auditors to the Members of The Aldershot Garrison Pre-sthool Settings Use of our report This report is made solely to the charitable company's members, as a bcKly, in accordan with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitsble company's members those matters we are required to state to them in an auditors. report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's MemirS as a bodyi for our audtt work, for this rewrt, or for the opinions we have fomied. Alison Elliott BFP ACA FCC4 MAAT (Senior Statutory Auditor) for and on behalf of Butt Miller Chartered Accountants and Ststutory Auditor l Minster Court Tuscam Way caMr1eY Surrey GU15 3YY 23 May 2025 Page 13
The Aldershot Garrison Pre-school Settings ststement of Financial Activities for the Year Ended 31 August 2024 2024 Unrestricted funds 2023 Totsl funds Notes INCOME AND ENDOWMENTS FROM Donations and legaaes 502 1,950 Charitable activities Charitable activities 1,293,291 1,289,977 Other trading attivities Investment income 1,4M 21,869 1,999 12,168 Total 1,317,106 1,306,094 EXPENDrnJRE ON Raising funds 2,604 2,580 Charitable activities Charitable activities 1,198,450 1,146,884 Total 1,201,054 1,149,464 NET INCOME Other recognised gainsl(losses) Gains/{10sses) on revaluation of fixed assets 116,052 156,630 22,073 (5,474) Net movement in funds 138,125 151,156 RECONCILIATION OF FUNDS Total funds brought forward 739,840 588,684 TOTAL FUNDS CARRIED FORWARD 877,965 739,840 The notes fomi part of these financial statements Page 14
The Aldershot Garrison Pre-school Settings {Registered number: 07916241) ststement of Financial Position 31 August 2024 2024 Unrestricted funds 2023 Totsl funds Notes FIXED ASSETS Tangible assets Investments 14 15 15,152 405,565 25,018 307,650 420,717 332,668 CURRENT ASSErs Debtors Cash at bank and in hand 16 11,743 481,111 20,559 416,566 492,854 437,125 CREDITORS Amounts falling due within one year 17 {35,606) (29,953) NET CURRENT ASSErs 457,248 407,172 TOTAL ASSEtS LESS CURRENT UABILttIES 877,965 739,840 NET ASSETS 877,965 739,840 FUNDS Unrestricted funds 19 877,965 739,840 TOTAL FUNDS 877,965 739,840 These financial statements have been ppared in accordan with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 15 May 2025 and were signed on tts behalf by: G P Bell - Trustee D Nicholl - Trustee The notes fomi part of these financial statements Page 15
The Aldershot Garrison Pre-school Settings ststement of Cash Flows for the Year Ended 31 August 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 120,207 164,560 Net cash provided by operating attivities 120,207 164,560 Cash flows from investing activities Purchase of tsngible fixed assets Purchase of fixed asset investments Sale of fixed asset investments Interest received Share portfolio income (1,689) (432,699) 356,857 12,205 9,664 (692) (63,807) 66,386 4,128 8,041 Net cash (used in)/provided by invesbng activtties (55,662) 14,056 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 64,545 178,616 416,566 237,950 Cash and cash equivalents at the end of the reporting peri¢xl 481,111 416,566 The notes fom part of these financial ststements Page 16
The Aldershot Garrison Pre-school Settings Notes to the Statement of Cash Hows for the Year Ended 31 August 2024 RECONCILIATION OF INCOME TO CASH FLOW FROM OPERATING ACtIvtrIES 2024 2023 Net income for the reporting peri( (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Loss on disposal of fixed assets Interest received Share portfolio income Decrease in debtors Increasel{decrease) in creditors 116,052 156,630 11,555 12,383 2,766 (4,128) (8,041) 32,216 (27,266) (12,205) (9,664) 8,816 5,653 Net cash provided by operations 120,207 164,560 ANALYSIS OF CHANGES IN NEf FUNDS At 1.9.23 Cash flow At 31.8.24 Net cash Cash at bank and in hand 416,566 64,545 481,111 416,566 64,545 481,111 Total 416,566 64,545 481,111 The notes fom part of these financial ststements Page 17
The Aldershot Garrison Pre-school Settings Notes to the Finanaal Statements for the Year Ended 31 August 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accountr'ng and Reporting by Charities.. Statement of Recommended Practice applicable to charibes preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 The Financial RetK)rting Stsndard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as m(KJified by the revaluation of certain assets. The Aldershot Garrison Pr&school Settings is a private limited company, limited by guarantee, and registered in England and Wales. The address of the registered Offi is set out in the Trustees report. The presentstion currency of the financial statements is the Pound Sterfing (£). Income All income is recognised in the Statement of Financial Acbvibes On the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Amounts received in advance relating to the following year are deferred until the criteria for income recognttion are met. Donations and legaaes are accounted for when when the chartty has unconditional entitlement to the resources and are credited to unrestricted funds unless directed by the donor to do otherwise. Investment income is included in the accounts when receivable. Investment gains and losses includes any gain or loss on the sale of investments and any gain or loss resulbng from revaluing investments to market value at the end of the year using the valuation provided by the Investment Manager {Rathbones Plc). Income from the government and other grants, whether 'cBpital' grants or 'revenue' grants is recognised when any performan conditions attached to the grants have been met. The value of any services provided by volunteers are not incorporated into these finanaal statements. Further details of any contributions can be found in the tNstees report. Donated seNices and facilities are only included in incoming resour5 (wrth an equivalent amount in resour5 expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the tharity of the SeN1 or facility received. Expenditure Liabilities are recognised as resources exnded as s(x)n as the is a legal or construrtive obligation committing the charity to the expenditure, it is probable that a transfer of economic benefrts will be required in settlement and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis and is inclusive of VAT. All expenses induding support costs and govemance costs are allocated or apportioned to the applicable expenditure headings. Tangible fixed assets Depreciation is provided at the following annual rates in order to Mite off each asset over its estimated useful life. Property improvements Fixtures and fittings IO% on cost 33.330kn on cost Fixed asset investments Listed investments are included at dosing market value at the ststement of financial position date. Any gain or loss during the year is tsken to the Statement of Financial Acknvits'e5. Taxation The charity is exempt from cortK)ration tax on its charTLable activibes to the extent that income or gains are applied exclusively to charitable pu. Page 18 continued...
The Aldershot Garrison Pre-school Settings Notes to the Finanaal Statements - continued for the Year Ended 31 August 2024 ACCOUNTING POLICIES - continued Fund accounting Unrestrirted funds (2n be used in accordan with the charitable objectives at the discretion of the trustees. The designated fund represents unrestricted fijnds held equal to the value of the Rathbones portfolio in Listed Investments totalling £405,565 (2023.. £307,650). Pension The charitsble company operates a defined contribution pension scheme. Contributions payable to the charitsble company's pension scheme are charged to the Ststement of Financial Attivities in the period to which they relate. Operating leases Rentals paid under operating leases are tharged to the Statement of Financial Activities on a straight line basis over the peri¢)J of the lease. Provisions Provisions (i.e. liabiltties of uncertain timing or amount) are rec(KJnised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefft will be transferred to settle the obligation and the amount of the obligation can estimated reliably. Going concern The charitable activities are entire dependent on continuing pr*school fees and govemment ftjnding. As a consequence, the going concem basis is dependent on the fubjre flow of these funding streams. The trustees are satisfied that, at the time of approving the financial statements, rt is appropriate to adopt the going concern basis in preparing the financial statements. The trustees are not aware of any material uncertainties about the charity's ability to continue as a going concern. CRttICAL ACCOUNTING JUDGEMEMtS AND KEY SOURCES OF EStIMATION UNCERTAINTY Judgements in applying accounting policies In the application of the charitsble companws accounting Folicies, the twstees are required to make judgements, estimates and assumptions aix)ut the carrying amount of assets and liabilities that are not readily apparent from other sources. The esb'mates and associated assumpts.ons are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. In preparing these financial ststements, the trustees have made the following critical judgements.. To detemiine whether donated serVIS and faolities can be rea)nablY measured and estimated so as to be recognised in the financial statements as described further in note 18. Key sources of estimation uncertainties The estimates and underfying aumptIOnS are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the peri(xi in which the estimate is revised where the revision affects only that period, or in the pericxj of the revision and future periods where the revision affects current and future periods. There are no key estimation uncertainties. Page 19 continued...
The Aldershot Garrison Pre-school Settings Notes to the Finanaal Statements - continued for the Year Ended 31 August 2024 DONATIONS AND LEGACIES 2024 2023 Donations 502 1,950 The previous year includes r(ems, received free of charge, of a new cooker and a defibrillator from the military and a I(1 organisation totalling £1,900. OTHER TRADING AcrIvrrIES 2024 2023 PhotolvideolLk commission Income from fund raising 892 552 1,036 963 1,4M 1,999 INVEsfMENT INCOME 2024 2023 Investment income Bank interest receivable 9,664 12,205 8,041 4,127 21,869 12,168 INCOME FROM CHARrrABLE AcrnirrIES 2024 2023 Activity Chantable acknvibes Chartlable activibes EYE funding and fees Grants 1,293,291 1,287,304 2,673 1,293,291 1,289,977 Income from govemment gTrnts included wtthin EYE funding and fees comprise of grants made by local authorities to fund early years education. The amount received in the year totslled £749,905 (2023.. £750,019) Other grants comprise amounts received from the military and the local authority. RAISING FUNDS Investment management costs 2024 2023 Management charges 2,604 2,580 Page 20 continued...
The Aldershot Garrison Pre-school Settings Notes to the Finanaal Statements - continued for the Year Ended 31 August 2024 CHARABLE ACtIVThIES Costs Support costs (see note 9) Direct Costs Totals Charitsble activtties 1,095,977 102,473 1,198,450 SUPPORT cosrs Infomiation technology Management Finance Charitsble activities 34,214 2,252 21,090 Governance costs Other Totals Charitsble activtties 30,517 14,400 102,473 io. INCOME1(ExPENDuRE) Net incomel(expendtture) is stated after chargingl(crediti'ng): 2024 2023 Depreciation - owned assets Deficit on distK)sal of fixed assets 11,555 12,383 2,766 11. AuDORs, REMUNERATION 2024 2023 Fees payable to the chaiity's auditors for the prepaTrtion and audtt of the charity's Statutory financial ststements. 14,400 8,280 12. TRusfEES' REMUNERATION AND BENEFttS The trustees have not bn paid any remuneration or received any other beneffts in relation to their work for the charity during the rICKl. Any trustee with children attending a setting are tharged on the same basis as other parents. There is a policy, that for trustees that have served for longer than l year, they would receive a £50 gift on leaving, subject to tnjstees, agreement. Trustees, expenses During the year, l Trustee was reimbursed for expenses incurred for the charity totalling £13. (2023: 2 Trustees totslling £128) Page 21 continued...
The Aldershot Garrison Pre-school Settings Notes to the Finanaal Statements - continued for the Year Ended 31 August 2024 13. StAFF cosrs 2024 2023 Wages and salaries Social security costs Other pension costs 945,099 53,242 14,106 901,943 43,305 13,248 1,012,447 958,496 The average monthly number of employees during the year was as follows: 2024 60 2023 65 Employees No employees received emoluments in excess of £60,0(K). 14. TANGIBLE FIXED ASss Fixtures and ffttings Propety improvements Totals cosr At I September 2023 Additions 73,133 143,937 1,689 217,070 1,689 At 31 August 2024 73,133 145,626 218,759 DEPRECIATION At I September 2023 Charge for year 53,315 8,068 138,737 3,487 192,052 11,555 At 31 August 2024 61,383 142,224 203,607 NET BOOK VALUE At 31 August 2024 11,750 3,402 15,152 At 31 August 2023 19,818 5,200 25,018 15. FIXED ASSET INVEsfMENTS Listed investments MARKET VALUE At I September 2023 Additions Disposals Revaluations Capitsl introduced Management fees 307,650 432,699 (348,758) (61,868) 78,446 (2,604) At 31 August 2024 405,565 NET BOOK VALUE At 31 August 2024 405,565 At 31 August 2023 307,650 Page 22 continued...
The Aldershot Garrison Pre-school Settings Notes to the Finanaal Statements - continued for the Year Ended 31 August 2024 15. FIXED ASSET INVEStMENTS - continued The investments represent holdings in the investment FQrtfolio managed by Rathbone Investment Management. The historical cost of the aljove investments was £402,535 (2023: £292,256). 16. DEBTORS: AMOUNTS FALLING DUE WHIN ONE YEAR 2024 2023 Trade debtors Other debtors 10,821 922 18,805 1,754 11,743 20,559 17. CREDrroRS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2024 2023 Trade creditors Social security and other Lixes Other creditors Accruals and deferred income 7,028 14,178 6,663 10,382 4,628 8,280 14,400 35,606 29,953 Deferred income comprises amounts received in advan of the following year or where conditions of agreements have not yet been wholly met. It is included within accruals and deferred income. Deferred income movement 2024 2023 Balance at beginning of the peri¢xl Amount released to income during the ricKl Amount deferred during the [nCl 20,131 (20,131) Balance at end of the peric 18. LEASING AGREEMENTS Minimum lease payments under nOn-CanlIable 0rating leases fall due as follows: 2024 2023 Within one year Betsveen one and five years 3,206 4,008 1,152 7,214 1,152 During the period there was a memorandum of understsnding with the Garrison to let the charity use the buildings the settings operate from, rent and Maintenan free. Following the period end, a Garrison standing order has now been established. This also includes utilities plus general major refUiShment worf( as part of the building's maintenance cycle as and when it arises. During the period, [urbIshMents and major work were completed in two settings. On the basis that the value of the use of these faalibes cannot be reliably determined, no income and u1valent expense have been recognised in the Statement of Financial Activibes. Page 23 continued...
The Aldershot Garrison Pre-school Settings Notes to the Finanaal Statements - continued for the Year Ended 31 August 2024 19. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.8.24 At 1.9.23 Unrestricted funds General fund Designated fund 432,190 307,650 118,656 19,469 (78,+16) 78,446 472,400 405,565 739,840 138,125 877,965 TOTAL FUNDS 739,840 138,125 877,965 Net movement in funds, included in the at#)ve are as follows: Incoming rur$ Resources expended Gains and losses Movement in funds Unrestricted funds General fund Designated fund 1,317,106 (1,198,450) (2,604) 118,656 19,469 22,073 1,317,106 (1,201,054) 22,073 138,125 TOTAL FUNDS 1,317,106 (1,201,054) 22,073 138,125 Comparatives for movement in funds Net movement in funds At 31.8.23 At 1.9.22 Unrestricted funds General fund Designated fund 272,980 315,704 159,210 (8,054) 432,190 307,650 588,684 151,156 739,840 TOTAL FUNDS 588,684 151,156 739,840 Comparative net movement in fund5, induded in the above are as follows: Incoming resour$ Resources expended Gains and losses Movement in funds Unrestricted funds General fund Designated fund 1,306,094 (1,146,884) (2,580) 159,210 (8,054) {5,474) 1,306,094 (1,149,464) {5,474) 151,156 TOTAL FUNDS 1,306,094 (1,149,464) (5,474) 151,156 Page 24 continued...
The Aldershot Garrison Pre-school Settings Notes to the Finanaal Statements - continued for the Year Ended 31 August 2024 19. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined p05ibon is as follows: Net movement in funds Transfers between funds At 31.8.24 At 1.9.22 Unrestricted funds General fund Designated fund 272,980 315,704 277,866 11,415 (78,446) 78,+16 472,400 405,565 588,684 289,281 877,965 TOTAL FUNDS 588,684 289,281 877,965 A current year 12 months and prior year 12 months combined net movement in funds, induded in the atx)ve are as follows: Incoming rur$ Resources expended Gains and losses Movement in funds Unrestricted funds General fund Designated fund 2,623,200 (2,345,334) (5,184) 277,866 11,415 16,599 2,623,200 (2,350,518) 16,599 289,281 TOTAL FUNDS 2,623,200 (2,350,518) 16,599 289,281 20. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 August 2024. 21. FRC HIcAL sfANDARD - PROVISIONS AVAILABLE FOR SMALL ENTtrIES In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tsx authorities and assist with the preparation of the financial statements. 22. ULTIMATE CONTROLLING PARTY The company is limited by guarantee and has no controlling party. The liability of each memLr is limited to £10 in the event of it being wound up. Page 25