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2022-08-31-accounts

COMPANY REGISTRATION NUMBER : 07187744

SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE UNAUDITED FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2022

Charity Number : 1147212

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Edmund Carr LLP Chartered Accountants 146 New London Road Chelmsford Essex CM2 OAW

SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2022

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CONTENTS PAGE
Company information 1
Trustees' annual report 2
Independent examiner's report to the Trustees 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10
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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE

COMPANY INFORMATION

YEAR ENDED 31 AUGUST 2022

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Charity Number 1147212
Company Number 07187744
Registered Office Springfield Bees Pre-School
Perryfields Community Hall
Lawn Lane
Chelmsford
Essex
CM1 7PP
Trustees who served during the period
Debbie Torr Appointed 14/04/2015 (Chairman from 01/02/2016 to 02/10/2017)
Stepped down: 09/12/2021
Kathleen Field Appointed 01/02/2016 (Treasurer from 09/03/2016 to 09/12/2021)
Stepped down: 09/12/2021
Mindy Scotcher Appointed 16/06/2017 (Secretary from 27/02/2019 to 09/12/21)
Stepped down: 09/12/2021
Hannah Vickers Appointed 22/02/2019
Stepped down: 09/12/2021
Debbie Pepper Appointed 10/07/2019 (Chairman from 10/07/2019 to present)
Laura Hudson Appointed 09/12/2021 (Treasurer)
Praveena Tota Appointed 09/12/2021
Sophie O'Sullivan Appointed 09/12/2021 (Secretary)
Laura Thurgood Appointed 09/12/2021
Stepped Down 11/07/2022
Maxine Little Appointed 05/07/2022
Company Secretary Sophie O'Sullivan
Independent Examiner
Edmund Carr LLP
146 New London Road
Chelmsford
Essex
CM2 0AW
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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE TRUSTEES' ANNUAL REPORT

YEAR ENDED 31 AUGUST 2022

The trustees have pleasure in presenting their report and the unaudited financial statements for the charity for the year ending 31 August 2022.

The Trustees of the charity as shown on page 1 are also the directors of the charity.

Structure, Governance and Management

Springfield Bees Pre-School was incorporated on 12 March 2010 and was registered as a charity by the Charity Commission on 11 May 2012. The assets of the predecessor unincorporated charity, Springfield Bees Pre-School, were transferred into the new charity with effect from 1 June 2012.

The charity is governed by its Memorandum and Articles of Association. The Trustees, assisted by the Management Committee, are deemed sufficiently educated to provide management of the charity. The Trustees of the charity make all major decisions.

The charity trustees have given consideration to the major risks to which the charity is exposed and satisfied themselves that systems or procedures are established in order to manage those risks.

Public Benefit

The Trustees confirm that they have had due regard to guidance published by the Charity Commission on public benefit.

Objectives and Activities

The charity's objectives as set out in its governing document are to enhance the development and education of children, primarily under statutory school age, by working in partnership with parents to help children to learn and develop and add to the life and well-being of the local community.

The Pre-School offers appropriate play, education and care facilities and training courses together with the right of parents to take responsibility for and to become involved in the activities of such groups, ensuring that such groups offer opportunities for all children whatever their race, culture, religion, means or ability. Springfield Bees Pre-School encourage the study of the needs of such children and their families and promoting public interest in and recognition of such needs.

Play helps young children to learn and develop through doing and talking, which research has shown to be the means by which young children learn to think. Our setting uses the Development Matters in the Early Years Foundation Stage guidance to plan and provide a range of play activities, which help children to make progress in each of the areas of learning and development. In some of these activities, children decide how they will use the activity and, in others, an adult takes the lead in helping the children to take part in the activity. In all activities, information from 'Development Matters' the Early Years Foundation Stage has been used to decide what equipment to provide and how to provide it.

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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 AUGUST 2022

Objectives and Activities (continued)

We aim to ensure that each child:

Achievements and Performance

The Pre-school continued to navigate the varying Covid-19 restrictions & regulations throughout the year, always putting safety & wellbeing at the heart of the provision. We were thrilled to be able to welcome parents back for our first face-to-face parents evening in two years, and look forward to parents returning to the setting for drop-off in the next academic year.

New EYFS reforms were introduced this year and much time has been spent embedding these into practice & curriculum throughout the year.

The Pre-school continued to provide many varied enrichment activities for children, including weekly Moo Music, Superstar Sports & cooking sessions. In the summer, we developed our outside space for the children to participate in gardening activities, receiving many generous donations from families & local businesses. The children even harvested some of their own food for snack time! We had visits from Chelmsford Morris dancers, Steve & Wilf the guide dog, Sanctus Homeless charity, Kayleigh the veterinary assistant & Sid the Rat, along with numerous festivities & celebrations. Our older children benefitted from sessions in the Infant school EYFS playground, along with visits to the secondary school to watch their dance show and performing their own routine under the tuition of their dance specialist, Jessie.

Both our Apprentice & Assistant completed their Level 3 Early Years Educator courses & joined the team full-time. The Pre-school continues to support one member of staff undertaking their Level 3 training.

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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 AUGUST 2022

Achievements and Performance (continued)

We continued to support the learning and development of our dedicated team, which included:

3 staff attending the Childcare & Education Expo & seminars on OFSTED Inspections & EYFS reforms. Our manager completed Level 3 training in Supporting Language & Learning for 3-5s (Elklan) and an Early Years Professional Development Programme. 2 staff attended training on the Ofsted Inspection Learning Walk & the Ofsted Curriculum Roadshow.

Other training Included:

Statutory Safeguarding training, Health & Safety, Fire Safety, Speech, Communication & Language, EAL, Behaviour Management, GDPR, Fundamental British Values, Equality & Inclusion, FGM, SEND Code of Practice, Being a Key Worker, Paediatric First Aid, Food Hygiene & Safety, PREVENT Duty, Infection Prevention & Control, EYFS.

We succeeded in offering additional provision and support for two children with SEND due to start school in September 2022. This included successfully applying for Inclusion Grants, SEN premium & Disability Access Fund, which went towards dedicated and focused small group work, working closely together with parents and professionals to support each child.

The recruitment & retention of high-quality staff continues to be a challenge within the industry and is a priority for the Pre-school. The Pre-school has implemented many incentives to maximise staff satisfaction and continue to support staff as much as possible.

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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 AUGUST 2022

Financial Review

The Pre-School will make a profit this year due to a combination of high pupil numbers, a small funding rate increase along with sound forecast planning & budgeting. This will be put towards employing a Level 3 Apprentice, purchasing equipment for our outside play area, a new computer for the office, for all staff to attend the Childcare & Education Expo and the remainder to strengthen our reserves against future financial pressures.

Total income for the year amounted to £219,965. Of this, £216,513 was from Local Authority funding, parental fees and grants, including £1,453 from EYPP and Depravation Supplement; additional funding to support children from disadvantaged families. This was spent on targeted activities and training as well as appropriate resources to aid the development for the children who attract this funding. £3,692 was from grants to support children in the setting with Special Education Needs, which was used for enhanced adult:child ratios, resources & small group activities. A £1,000 grant was received for participation on an Early Years Professional Development Programme. A £1,500 Apprenticeship grant was also received.

Expenditure:

The Pre-school expenditure amounted to £213,591. 78% of our expenditure is spent on staff salaries & pensions, 10% on rent & utilities & staff training.

The Pre-school provided Moo Music sessions for the children at a cost of £1,085. The Pre-school provided Superstar Sports sessions for the children at a cost of £905. The Pre-school provided gardening sessions for the children at a cost of £33. The Pre-school provided cooking sessions for the children at a cost of £907.

The remaining expenditure was made up of day to day running costs such as: insurance, accountancy & professional fees, staff checks, equipment, telecoms, printing, stationery, setting resources, administration costs, snacks, postage, etc.

As of 31 August 2022 the current account held £55,247. The Reserve Account held £3 and £126 was held in petty cash.

Reserves

The Pre-School aims to keep enough in reserve to cover running costs for three months, (salaries and pension, rent, phone & broadband, general contingency) and redundancies should the business need to close.

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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 AUGUST 2022

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees on 7 December 2022 and signed on their behalf:

............................ L Hudson Treasurer

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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

YEAR ENDED 31 AUGUST 2022

I report on the accounts of the company for the year ended 31 August 2022 which are set out on pages 8 to 16.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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 independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance 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 connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

....................................

Colin A Barker FCA

146 New London Road Chelmsford CM2 0AW

22 December 2022

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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 AUGUST 2022

INCOME FROM:
Investments
2
Charitable activities
3
TOTAL INCOME
EXPENDITURE ON:
Charitable activities
4
TOTAL EXPENDITURE
NET INCOME/(EXPENDITURE)
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward
Total funds carried forward
Unrestricted
funds
£
-
219,965
219,965
211,399
211,399
/
8,566
32,136
40,702
Restricted
funds
£
-
-
-
2,192
2,192
( 2,192)
35,080
32,888
Total
2022
£
-
219,965
219,965
213,591
213,591
6,373
67,216
73,589
Total
2021
£
-
206,215
206,215
220,590
220,590
( 14,375)
81,591
67,216

The charity has no recognised gains or losses other than the results for the year as set out above.

All of the activities of the charity are classed as continuing.

The notes on pages 10 to 16 form part of these financial statements.

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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE

BALANCE SHEET

31 AUGUST 2022

Note
FIXED ASSETS
9
CURRENT ASSETS
Debtors
10
Cash at bank and in hand
CREDITORS: Amounts falling due within one
year
11
NET CURRENT ASSETS
NET ASSETS
FUNDS OF THE CHARITY
Unrestricted funds
12
Restricted funds
13
TOTAL CHARITY FUNDS
£
£
32,888
-
55,376
55,376
14,675
40,701
73,589
40,702
32,888
73,589
2022
2021
£
35,080
-
45,389
55,400
13,253
32,136
67,216
32,136
35,080
67,216

For the year ending 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

• The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,

• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

These accounts were approved by the trustees on 7 December 2022 and are signed on their behalf by:

L Hudson

Trustee

Company Registration No: 07187744

The notes on pages 10 to 16 form part of these financial statements.

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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), 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 (effective 1 January 2019) (Charities SORP FRS 102) and the Companies Act 2006.

Legal status

Springfield Bees Pre-School Company Limited is a charitable company limited by guarantee. It is incorporated in England and Wales and its registered address is Perryfields Community Hall, Lawn Lane, Chelmsford, Essex CM1 7PP. The company meets the definition of a public benefit entity under FRS 102.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Incoming resources

Income from fees, donations and grants is included in incoming resources when these are receivable, except when donors specify that donations and grants given to the charity must be used in future accounting periods and the income is deferred until those periods.

Resources expended

All expenditure is accounted for on an accruals basis and includes VAT as the charity is not VAT registered. The majority of expenditure is directly attributable to specific charitable activities. Support costs relate to expenditure to support the charitable activities of the charity which cannot be directly attributed to charitable activities. Governance costs are associated with the governance arrangements of the charity.

Fixed assets and depreciation

Leasehold improvements funded by capital funding grants are capitalised and written off over the term of the lease (20 years). Playschool equipment is not capitalised as its residual value once in use is deemed to be minimal.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognized at their settlement amount.

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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2022

1 ACCOUNTING POLICIES CONTINUED

Fund accounting

Funds held by the charity are either:

Unrestricted general funds – these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Restricted funds – these are funds that can only be used for particular restricted purposes within the objects of the charity.

2. INVESTMENT INCOME

Unrestricted
funds
£
Bank interest receivable
-
Total 2021
-
Restricted
funds
£
-
-
Total
2022
£
-
-
Total
2021
£
-

All of the charity's investment income arises from an interest bearing deposit account.

3. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted
funds
£
Fees
45,360
ECC funded fees
164,961
Other grant income
6,192
Other income
3,452
219,965
Total 2021
206,215
Restricted
funds
£
-
-
-
-
-
-
Total
2022
£
45,360
164,961
6,192
3,452
219,965
206,215
Total
2021
£
27,202
168,353
8,376
2,284
206,215

Other grant income included £5,692 from government bodies (2021: £7,786).

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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2022

4. COSTS OF CHARITABLE ACTIVITIES

Staff wages
Staff pension
Equipment and supplies
Other direct costs
Support costs(Note 5)
Governance costs(Note 6)
Total 2021
Unrestricted
funds
£
163,754
3,783
4,894
1,781
174,211
31,793
5,395
211,399
218,398
Restricted
funds
£
-
-
-
-
-
2,192
-
2,192
2,192
Total
2022
£
163,754
3,783
4,894
1,781
174,211
33,985
5,395
213,591
220,590
Total
2021
£
161,618
3,568
10,742
2,717
178,645
35,376
6,569
220,590

5. SUPPORT COSTS

Rent
Utilities
Insurance
Training
Depreciation
Miscellaneous expenses
Total 2021
Unrestricted
funds
£
14,992
11,028
1,427
599
-
3,748
31,793
33,184
Restricted
funds
£
-
-
-
-
2,192
-
2,192
2,192
Total
2022
£
14,992
11,028
1,427
599
2,192
3,748
33,985
35,376
Total
2021
£
14,992
10,472
1,392
2,183
2,192
4,145
35,376

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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2022

6. GOVERNANCE COSTS

Accounting services
Payroll/Pension costs
Independent Examiner's fee
Fees payable to Independent Examiner
Legal & Professional fees
Membership fees
Total 2021
7. ANALYSIS OF STAFF COSTS
Wages and salaries
Employer pension contributions
Social security costs
Unrestricted
funds
£
1,041
2,148
522
3,711
1,093
591
5,395
6,569
Restricted
funds
£
-
-
-
-
-
-
-
-
Total
2022
£
1,041
2,148
522
3,711
1,093
591
5,395
6,569
2022
£
159,388
3,783
4,366
167,537
Total
2021
£
990
2,424
522
3,936
1,813
820
6,569
2021
£
157,589
3,568
4,029
165,186

There were an average of 13 staff employed during the year (2021: 12).

None of the employees' emoluments exceeded £60,000.

8. TRUSTEES REMUNERATION

None of the trustees or persons connected with them received any remuneration for their services.

None of the trustees were reimbursed expenses incurred when acting on behalf of the company during the year.

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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2022

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9. FIXED ASSETS
Leasehold Total
Improvements
£ £
Cost
At 1st September 2021 43,848 43,848
Additions - -
At 31st August 2022 43,848 43,848
Depreciation
At 1st September 2021 8,768 8,768
Charge for the year 2,192 2,192
At 31st August 2022 10,960 10,960
Net Book Value
At 31st August 2022 32,888 32,888
At 31st August 2021 35,080 35,080
10. DEBTORS
2022 2021
£ £
- -
Prepayments and accrued income
11. CREDITORS: Amounts falling due within one year
2022 2021
£ £
Accruals 13,334 11,853
Taxation and social security 1,341 1,400
14,675 13,253
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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2022

12. UNRESTRICTED FUNDS

Current year:
Unrestricted funds
Prior year:
Unrestricted funds
13. RESTRICTED FUNDS
Current year:
ECC Capital Grant
Prior year:
ECC Capital Grant
Balance
01/09/2021
£
32,136
Balance
01/09/2020
£
44,319
Balance
01/09/2021
£
35,080
Balance
01/09/2020
£
37,272
Income
£
219,965
Income
£
206,215
Income
£
-
Income
£
-
Expenditure
£
211,399
Expenditure
£
218,398
Expenditure
£
2,192
Expenditure
£
2,192
Balance
31/08/2022
£
40,702
Balance
31/08/2021
£
32,136
Balance
31/08/2022
£
32,888
Balance
31/08/2021
£
35,080

The ECC capital grant was used to fund the building works on an additional room for the preschool.

14. ANALYSIS OF NET ASSETS (between restricted and unrestricted funds)

Current year:
Restricted funds
Unrestricted funds
Total funds
Prior year:
Restricted funds
Unrestricted funds
Tangible
fixed assets
£
32,888
-
32,888
Tangible
fixed assets
£
35,080
-
37,272
Other net
assets
£
-
40,702
40,702
Other net
assets
£
-
32,136
44,319
Total
£
32,888
40,702
73,589
Total
£
35,080
32,136
67,216

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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2022

15. RELATED PARTIES

There were no related party transactions during the year

16. COMPANY LIMITED BY GUARANTEE

Every member of the company undertakes to pay such amount as may be required not exceeding £1 towards the company's assets if the company should be wound up while he, she or it remains a Member or within one year after they cease to be a Member towards the costs of dissolution and the liabilities incurred by the company while the contributor was a Member.

17. OPERATING LEASE COMMITMENTS

Total future minimum lease payments under non-cancellable operating leases are as follows:

Within one year
Between one and five years
2022
7,231
-
7,231
2021
18,422
3,730
22,152

18. CONTINGENT LIABILITY

During 2017/18 Essex County Council provided capital funding of £43,838 towards the refurbishment of a new preschool room in the premises leased by the pre-school from the Council. Under the terms of the Capital Funding Agreement, the Council has the right to the reclaim the value of the asset improvement for a period of 10 years after completion of the capital works in the event of the pre-school ceasing to operate.

16