COMPANY REGISTRATION NUMBER : 07187744
SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE UNAUDITED FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2023
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 2023
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CONTENTS PAGE
Company information 1
Trustees' annual report 2
Independent examiner's report to the Trustees 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9
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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE
COMPANY INFORMATION
YEAR ENDED 31 AUGUST 2023
Charity Number 1147212 Company Number 07187744
Registered Office
Springfield Bees Pre-School Perryfields Community Hall Lawn Lane Chelmsford Essex CM1 7PP
Trustees
Debbie Pepper Appointed 17/10/2018 (Chairman 10/07/2019 to present) Laura Hudson Appointed 09/12/2021 (Treasurer) Praveena Tota Appointed 09/12/2021 Stepped Down 07/12/2022 Sophie O'Sullivan Appointed 09/12/2021 (Secretary) Maxine Little Appointed 05/07/2022 Stepped Down 07/12/2022 Laura Martin Appointed 03/02/2023
Company Secretary
Sophie O'Sullivan
Independent Examiner
Colin Barker FCA 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 2023
The trustees have pleasure in presenting their report and the unaudited financial statements for the charity for the year ending 31 August 2023.
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 2023
Objectives and Activities (continued)
We aim to ensure that each child:
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is in a safe and stimulating environment
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is given generous care and attention
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has the chance to join in with other children and adults to live, play, work and learn together - is helped to take forward her/his learning and development by being encouraged to build on what she/he already knows and can do
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has a personal key person who makes sure each child makes satisfactory progress
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is in a setting that sees parents as partners in helping each child to learn and develop - is in a setting in which parents help to shape the service it offers.
Achievements and Performance
The Pre-school continued to offer high quality care and education to local families, focusing on embedding our curriculum.
The Pre-school continued to provide many varied enrichment activities for children, including weekly Moo Music, Superstar Sports & STEM sessions. We arranged visits from the library bus, paramedics, firefighters and police, along with numerous parents coming in to talk about festivities and celebrations. Our older children benefitted from sessions in the Infant school EYFS playground, along with school transition sessions and teacher visits.
We continued to support the learning and development of our dedicated team, with both statutory and specific training.
We succeeded in offering additional provision and support for four children with SEND, securing additional funding to facilitate 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 2023
Financial Review
The Pre-School made a profit in this year which will be put towards employing a Level 3 Apprentice, purchasing equipment for our outside play area, a new computer for the office and to strengthen our reserves against future financial pressures.
Total income for the year amounted to £247,752 made up from local authority funding, parental fees and grants and snack income.
Expenditure:
The Pre-school expenditure amounted to £244,973. 77% of our expenditure is spent on staff salaries & pensions, 10% on rent & utilities and staff training.
The Pre-school provided Moo Music sessions for the children at a cost of £1,125. The Pre-school provided Superstar Sports sessions for the children at a cost of £554. The Pre-school provided STEM sessions for the children at a cost of £800. Pre-school equipment and resources cost £5,608.
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 2023 the current account held £53,583. The Reserve Account held £8,027 and £67 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 2023
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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
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 ...............................and signed on their behalf:7 December 2023
............................ 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 2023
I report on the accounts of the company for the year ended 31 August 2023 which are set out on pages 7 to 15.
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:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
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Colin A Barker FCA
146 New London Road Chelmsford CM2 0AW
14 December 2023 ..................................
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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 2023
| 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 £ 23 247,729 247,752 242,781 242,781 / 4,971 40,701 45,672 |
Restricted funds £ - - - 2,192 2,192 ( 2,192) 32,888 30,696 |
Total 2023 £ 23 247,729 247,752 244,973 244,973 2,779 73,589 76,368 |
Total 2022 £ - 219,964 219,964 213,591 213,591 6,373 67,216 73,589 |
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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 9 to 15 form part of these financial statements.
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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE
BALANCE SHEET 31 AUGUST 2023
| 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 |
£ £ 30,696 - 61,677 61,677 16,005 45,672 76,368 45,672 30,696 76,368 2023 |
2022 £ 32,888 - 55,376 55,376 14,675 40,701 73,589 40,701 32,888 73,589 |
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For the year ending 31 August 2023 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 …....................... and are signed on their 7 December 2023 behalf by:
L Hudson
Trustee
Company Registration No: 07187744
The notes on pages 9 to 15 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 2023
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 2023
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 23 Total 2022 - |
Restricted funds £ - - |
Total 2023 £ 23 - |
Total 2022 £ - |
|---|---|---|---|
All of the charity's investment income arises from an interest bearing deposit account.
3. INCOME FROM CHARITABLE ACTIVITIES
| Unrestricted funds £ Fees 47,187 ECC funded fees 187,321 Other grant income 8,224 Other income 4,997 247,729 Total 2022 219,964 |
Restricted funds £ - - - - - |
Total 2023 £ 47,187 187,321 8,224 4,997 247,729 219,964 |
Total 2022 £ 45,360 164,961 6,192 3,451 219,964 |
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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2023
4. COSTS OF CHARITABLE ACTIVITIES
| Staff costs Equipment and supplies Other direct costs Support costs(Note 5) Governance costs(Note 6) Total 2022 |
Unrestricted funds £ 191,419 6,577 4,974 202,970 34,890 4,921 242,781 211,399 |
Restricted funds £ - - - - 2,192 - 2,192 2,192 |
Total 2023 £ 191,419 6,577 4,974 202,970 37,082 4,921 244,973 213,591 |
Total 2022 £ 167,537 4,893 1,781 174,211 33,985 5,395 213,591 |
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5. SUPPORT COSTS
| Rent Utilities Insurance Training Depreciation Miscellaneous expenses Total 2022 |
Unrestricted funds £ 14,992 9,485 1,477 1,959 - 6,977 34,890 31,793 |
Restricted funds £ - - - - 2,192 - 2,192 2,192 |
Total 2023 £ 14,992 9,485 1,477 1,959 2,192 6,977 37,082 33,985 |
Total 2022 £ 14,992 11,028 1,427 599 2,192 3,748 33,985 |
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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
6. GOVERNANCE COSTS
| Accounting services Payroll/Pension costs Independent Examiner's fee Fees payable to Independent Examiner Legal & Professional fees Membership fees Total 2022 7. ANALYSIS OF STAFF COSTS Wages and salaries Employer pension contributions Social security costs |
Unrestricted funds £ 1,133 2,604 550 4,287 13 621 4,921 5,395 |
Restricted funds £ - - - - - - - - |
Total 2023 £ 1,133 2,604 550 4,287 13 621 4,921 5,395 2023 £ 181,592 4,433 5,394 191,419 |
Total 2022 £ 1,041 2,148 522 3,711 1,093 591 5,395 2022 £ 159,388 3,783 4,366 167,537 |
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There were an average of 15 staff employed during the year (2022: 13).
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 2023
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9. FIXED ASSETS
Leasehold Total
Improvements
£ £
Cost
At 1st September 2022 43,848 43,848
Additions - -
At 31st August 2023 43,848 43,848
Depreciation
At 1st September 2022 10,960 10,960
Charge for the year 2,192 2,192
At 31st August 2023 13,152 13,152
Net Book Value
At 31st August 2023 30,696 30,696
At 31st August 2022 32,888 32,888
10. DEBTORS
2023 2022
£ £
- -
Prepayments and accrued income
11. CREDITORS: Amounts falling due within one year
2023 2022
£ £
Accruals 14,599 13,334
Taxation and social security 1,406 1,341
16,005 14,675
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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
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 01/09/2022 £ 40,701 Balance 01/09/2021 £ 32,136 Balance 01/09/2022 £ 32,888 Balance 01/09/2021 £ 35,080 |
Income £ 247,752 Income £ 219,964 Income £ - Income £ - |
Expenditure £ 242,781 Expenditure £ 211,399 Expenditure £ 2,192 Expenditure £ 2,192 |
Balance 31/08/2023 £ 45,672 Balance 31/08/2022 £ 40,701 Balance 31/08/2023 £ 30,696 Balance 31/08/2022 £ 32,888 |
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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 £ 30,696 - 30,696 Tangible fixed assets £ 32,888 - 32,888 |
Other net assets £ - 45,672 45,672 Other net assets £ - 40,701 40,701 |
Total £ 30,696 45,672 76,368 Total £ 32,888 40,701 73,589 |
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SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
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 |
2023 7,231 - 7,231 |
2022 7,231 - 7,231 |
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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.
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