## **COMPANY REGISTRATION NUMBER : 07187744**
# **SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE UNAUDITED FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2023**
**Charity Number : 1147212**
-1
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**
**----- Start of picture text -----**
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
**----- End of picture text -----**
## **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
1
## **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.
2
## **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:
- is in a safe and stimulating environment
- is given generous care and attention
- 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
- has a personal key person who makes sure each child makes satisfactory progress
- 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.
3
## **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.
4
## **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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- 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
5
## **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:
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
14 December 2023 ..................................
6
## **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|
|---|---|---|---|---|
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.**
7
## **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|
|---|---|---|
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.**
8
## **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.
9
## **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|
|---|---|---|---|
10
## **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|
|---|---|---|---|---|
## **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|
|---|---|---|---|---|
11
## **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|
|---|---|---|---|---|
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.
12
## **SPRINGFIELD BEES PRE-SCHOOL COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 AUGUST 2023**
**----- Start of picture text -----**
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
**----- End of picture text -----**
13
## **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|
|---|---|---|---|---|
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|
|---|---|---|---|
14
**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|
|---|---|---|
## **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.
15