Jack In The Box Pre-school Limited
Trustee Report and Financial Statements For the year ended 31st August 2024
Company Number: 08148246 Registered Charity Number: 1149722
Jack In The Box Pre-school Limited
Trustees Report and Financial Statements For the year ended 31st August 2024
| Contents | Page |
|---|---|
| Trustee and administrative details for year ended 31st August 2024 | 1 |
| Trustees report for the year ended 31st August 2024 | 2 - 3 |
| Independent examiners report to the Trustees | 4 |
| Statement of financial activities for year ended 31st August 2024 | 5 |
| Balance sheet as at 31st August 2024 | 6 |
| Notes to the financial statements for year ended 31st August 2024 | 7 - 8 |
Jack In The Box Pre-school Limited
Trustee and administrative details For the year ended 31st August 2024
Board of Trustees
G E Smyth F Connop I Shakespeare J Loone L Shakespeare S Loone
Manager
M Loone Registered Office Garland Cresent Halesowen West Midlands B62 9NJ
Bankers
Lloyds Bank Plc Quinton Branch 1 Legg Street Chelmsford Essex CM1 1JS
Accountants
Get Logical Ltd Office 11 Manor House Manor Lane Halesowen West Midlands B62 8PY
Independent Examiners Freedom Financials Brook House Toadsmoor Road Stroud Gloucestershire GL5 2TB
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Jack In The Box Pre-school Limited
Trustees Report
For the year ended 31st August 2024
Objectives and Activities
We continued to help families by supporting them with child care throughout the year, we continue to keep the costs of attending as low as possible.
Public Benefit Statement
The trustees have had due regard to the guidence published by Charities Commission on public benefit when reviewing the charity's aims and planning future activities. We continued to support families by keeping costs low and maintaining good communication.
Achievements and Performance
Numbers in pre-school and playgroup slowly increased throughout the year with out of school club continuing to increase. Fund Raising: Continued to improve this year with social events. Fund raising was raised through many different fundraising events including a Halloween fun afternoon, Christmas tombola and raffle, Easter Egg decorating and an end of summer term picnic and fun afternoon. OFSTED: The inspection was held on 14th June 2023. Outcome: GOOD in all areas. The group expects it will receive the next inspection 2029. (6 years).
Financial Review
The following information is for the normal accounting yearly term.
Income: The income from Early Education Funding (EEF) was received fully for 24 children and 5 taking extra hours. Playgroup children (2-year-olds) we had 14 in playgroup.
Morning club and Aftercare ran on a mixture of numbers this year. We are still quieter in morning club but a lot busier this year in after school club. M/C – 28, A/C - 35
Minimum wage increase rose from £10.42 to £11.44. Workplace Pension is still in hand with 7 members of staff currently opting in. Holiday pay payments were paid as required. Other household costs remain appropriate. Dudley MBC / Government continued to pay the Early years funding throughout the terms. A full copy of the accounts will be distributed to all trustees.
Structure, Governance and Management
The charity is governed by a constitution and managed by a board of trustees. The Annual General Meeting was held in May 2025 via email and phone. All decisions, including acceptance of accounts, were agreed by trustees. One trustee resigned and was replaced by a new appointee
Staffing
There have been changes to staff during the year. Staff on maternity leave due to return in February 2025. Another member has returned and a part time childcare assistant joined the team in April 2024. Necessary and relevant training has been carried out throughout the year. The current and future training with DMBC continues via video like with some training now face to face. First aid training is due 2025.
Future Plans
We will continue to grow the child numbers and aim to maintain affordability. There is additional wraparound care that may be offered by the local school, which could prove to be challenging, but we are hopeful that the families we already support will want to continue to be supported by us. We will look to always improve our offering to ensure we can support as many local families as we can.
Reserves Policy Statement
After the AGM (24/06/2025), the trustees formally adopted a reserves policy in line with our Articles of Association.
The policy sets out a target to maintain free reserves equivalent to 3 to 6 months of our average core operating costs. Based on current expenditure levels of approximately £14,000 per month, this equates to a target reserves range of £42,000 to £84,000.
As at 31 August 2024, our unrestricted free reserves stand at £17,290 — below the minimum recommended level. This has been noted by the trustees, and we are committed to steadily building the charity’s reserves over time. We will take this into account during financial planning, fundraising efforts, and decision-making throughout the coming year.
Our aim is to ensure long-term financial sustainability of the preschool while continuing to provide high-quality, accessible childcare for our community.
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Approval
This report has been approved by the board of trustees on:
Chair of Trustees: S Loone 24/06/2025
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Jack In The Box Pre-school Limited
Independent Examiners Report
For the year ended 31st August 2024
I report to the trustees on my examination of the financial statements of Jack in the Box Preschool Limited for the year ended 31st August 2024.
As the charity’s trustees (and directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with:
The Charities Act 2011,
The Companies Act 2006, and
The Charities SORP (FRS 102).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
The charity is constituted as a company limited by guarantee, registered in England and Wales with company number 08148246 and charity number 1149722.
I have completed my examination. In the course of my examination, no matter has come to my attention: which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 386 of the Companies Act 2006; and - to prepare financial statements which accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006, and - to prepare financial statements in accordance with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) have not been met; or - to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Status of the examiner
The charity’s gross income is below the threshold of £250,000 for the financial year, and therefore an audit is not required under section 144(1) of the Charities Act 2011.
I am eligible to undertake this examination by being a member of the Chartered Institute of Management Accountants (CIMA), which is one of the bodies listed in subsection (4) of section 145 of the Charities Act 2011.
Leah Farrer - Freedom Financials Brook House, Toadsmoor Road, Stroud, Gloucestershire GL5 2TB Chartered Institue of Management Accountants Date: 23/06/2025
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Jack In The Box Pre-school Limited
Statement of Financial Activities
Year Ended 31st August 2024
----- Start of picture text -----
Year Ended 31st August 2024 Year Ended 31st August 2023
Unrestricted Restricted Unrestricted Restricted
Funds Funds Total Funds Funds Total
£ £ £ £ £ £
Income and Endowments
Donations, Gifts and Legacies 9 4,401 - 4,401 3,608 - 3,608
Charitable Activities 142,043 - 142,043 138,545 - 138,545
Other Income - - - - - -
Total Income and Endowments 146,445 - 146,445 142,154 - 142,154
Expenditure
Chritable Activities 149,056 - 149,056 139,020 - 139,020
Net Income / (Expenditure) (2,612) - (2,612) 3,134 0 3,134
Transfer Between Accounts - - - - - -
Net Movement on Funds (2,612) - (2,612) 3,134 0 3,134
Total Funds Brought Forward 19,902 - 19,902 16,768 - 16,768
Total Funds Carried Forward 17,290 - 17,290 19,902 - 19,902
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Jack In The Box Pre-school Limited
Balance Sheet
Year Ended 31st August 2024
| Tangible Assets 5 Fixed Assets |
£ 8,000 Year Ended 31st August 2024 |
£ 8,800 Year Ended 31st August 2023 |
|---|---|---|
| 8,000 | 8,800 | |
| Debtors 6 Cash At Bank And In Hand Creditors: amounts falling due within one year Net Current Assets Current Assets Current Liabilities |
- 11,506 11,506 2,216 2,216 9,290 |
- 13,133 13,133 2,031 2,031 11,102 |
| Net Assets | 17,290 | 19,902 |
| The Funds of the Charity Unrestricted Funds 7 Restricted Funds |
17,290 - |
19,902 - |
| Total Charity Funds as at 31st August 2024 | 17,290 | 19,902 |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The financial statements were approved by the Board of Trustees (who are also directors for company law purposes) and authorised for issue on 12/05/2025
Signed on behalf of the Board of Trustees
Chair of Trustees: S Loone Date: 12/05/2025
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Jack In The Box Pre-school Limited
Notes To The Financial Statements For the year ended 31st August 2024
1. Accounting Policies
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), using the accrual basis and the small entities regime.
Income is recognised in the Statement of Financial Activities when the charity has entitlement to the income, it is probable that the income will be received, and the amount can be measured reliably.
In practice, this means income from grants, contracts, and services (including invoiced fees and early years funding) is recognised when: the service has been delivered, or an invoice has been raised for income the charity is entitled to.
Income is not deferred unless the charity has received funds for a future accounting period for which it has no current entitlement
Funds are classified as unrestricted or restricted according to their source and any donor-imposed conditions.
Tangible fixed assets are depreciated using the straight-line method over 20 years based on the estimated useful life of the asset.
As a small charitable company, the charity has taken advantage of the exemption under section 383 of the Companies Act 2006 and FRS 102 not to prepare a cash flow statement.
2. Staff Costs
Total staff costs for the year were:
| Total staff costs for the year were: | |
|---|---|
| £ | |
| Wages and salaries | 125,574 |
| Employer’s National Insurance | 5,193 |
| Employer’s pension contributions | 823 |
| Total staff costs | 131,590 |
The average number of employees during the year was 14. No employees received remuneration of over £60,000.
No key management personnel were separately remunerated.
3. Trustee Remuneration and Expenses
No trustee received remuneration for their role as a trustee during the year.
4. Related Party Transactions
There were no related party transactions during the financial year 2023/2024.
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5. Tanglible Fixed Assets
Tangible fixed assets - Buildings are depreciated on a straight-line basis over 20 years.
----- Start of picture text -----
Buildings Total
£ £
At 1st September 2023 16,184 16,184
Additions - -
As at 31st August 2024 16,184 16,184
Depreciation
At 1st September 2023 7,384 7,384
Additions 800 800
As at 31st August 2024 8,184 8,184
Net Book Value
At 31st August 2023 8,800 8,800
Net Book Value
At 31st August 2024 8,000 8,000
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6. Debtors and Creditors
At the year-end, the charity had £0 Debtors, and the following:
Creditors (due within one year): Accruals and other Liabilities £2,216
7. Fund Balances
The charity held the following fund balances at year-end:
| The Funds of the Charity | £ Year Ended 31st August 2024 |
£ Year Ended 31st August 2023 |
|
|---|---|---|---|
| Unrestricted Funds | 10 | 17,290 | 19,902 |
| Restricted Funds | - | - | |
| Total Charity Funds as at 31st August 2024 | 17,290 | 19,902 |
8. Rent
The charity pays rent to Dudley MBC for the use of premises. This rent is charged at a rate agreed in 2004 there is no related party relationship involved.
9. Fundraising and Other Income
During the year, the charity raised £4,401 through various fundraising activities including raffles, children's parties, and seasonal events. All income raised supported the charity’s objectives.
10. Reserves
As at 31 August 2024, the charity held unrestricted free reserves of £17,290.
Following the year-end, the trustees formally adopted a reserves policy aiming to hold between £42,000 and £84,000 (3–6 months of core costs) to protect against financial uncertainty.
The current level of reserves falls below this target. The trustees are aware of the gap and are committed to building reserves gradually over future periods, while continuing to keep childcare accessible and affordable
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