Wlvenhoe Pre-school Charlty No. 1150173 Company No, 07578727 Trustees, Report and Unaudited Accounts 31 August 2024 Wivenhoe Pre-school Contents Pages Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities Summary Income and Expenditure Account Balance Sheet Notes to the Accounts 7t013 Detailed Statement of Financial Activities 14tolS Page I Wivenhoe Pre-school Trustees Annual Report The trustees, who are a150 directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 August 2024. REFERENCE AND ADMINISTRATIVE DETAILS Company No. 07578727 Charlty No. 1150173 Re8lstered Offlce Congregational Church Hall 101 High Street Wivenhoe Colchester, Essex C07 IA8 Dlrectors and Trustees The Oirectors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year.. S. Clubb J.L, Hannah O. Reeves C. Sparrow D. Tarala Accountants Quantic Accountancy Llmited I Second Avenue Bluebrid8e Halstead Essex C09 2SU The Trustees are responsible for keeping proper accounting record5 that disclose with reasonable accuracy at any time the f inancial p051tion of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safe8uardin8 the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP IFRS 1021. Signed on behalf of the board S. Clubb skclubb Trustee signed on13111,'2024, 10.20.42 GMT 11 November 2024 Page 2 Wivenhoe Pre-school Independent Examiners Report Independent Examlner's Report to the trustees of Wivenhoe Pre-school I report to the charity trustees on my examination of the financial statements of Wivenhoe Pre-school for the vear ended 31 August 2024. Responsiblllties and basi5 of report As the charitV'5 trustees of the company land a150 Its directors for the purposes of company law) you are responsible for the preparation of the f inancial statements in accordance with the requirements of the Companies Act 20061'the 2006 Act, Havlng satisf led myself that the f inancial statements of the Charity 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 examinatlon of your charity's financial statements as carrled out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examlner's statement I have completed my examination. I can confirm that no materlal matters have come to my attentlon In connection wlth the examination glvlng me cause to belleve: accounting records were not kept in accordance with section 386 of the 2006 Act, or the financial statements do not accord with those records,. or the financial statements do not comply with the accounting requirements under sectlon 396 of the 2006 Act other than any requlrement that the financial statements give a 'true and fair, vlew which Ss not a matter considered as part of an Independent examination; or the financial statements have not been prepared in accordance with the methods and principles of the statement of Recommended Practice for accounting and reporting by charitie5 applicable to charities preparing their accounts In accordance wlth the Financlal Reportln8 Standard appllcable In the UK and Republic of Ireland IFRS 1021, 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 understandin8 of the financial statements to be reached. Mr Stuart Foster FCCA ACCA Quantic Accountancy Limited I Second Avenue Bluebridge Halstead Essex C09 25U 11 November 2024 Page 3 Wivenhoe Pre-school Statement of Financial Activities for the year ended 31 Au8USt 2024 Unrestricted funds Total funds Total funds 2024 2024 2023 Notes Income and endowments from: Charitable activities Investments 87,172 218 87,172 218 81,095 143 Total 87,390 87,390 81,238 Expendlture on: Charitable activities Other 4,636 80,234 4,636 80,234 3,703 75,465 Total 84,870 84,870 79,168 Net gains on investments Net Income 2,520 2,520 2,070 Transfers between funds Net Income before other 8alns/l105sesl 2,520 2,520 2,070 Other galns and losses Net movement In funds 2,520 2,520 2,070 Reconclliatlon of funds: Total funds brought forward 32,644 32,644 30,574 Total funds carrled forward 35,164 35,164 32,644 Page 4 Wivenhoe Pre-school summary Income and Expenditure Account for the year ended 31 August 2024 2024 2023 Income 87,172 81,095 Interest and investment income 218 143 Gross Income for the year Expenditure 87,390 81,238 84,380 78,956 Depreciation and charges for impairment of fixed assets 490 212 Total expendlture for the year Net income before tax for the year 84,870 79,168 2,520 2,070 Net Income for the year 2,520 2,070 Page 5 Wlvenhoe Pre-school Balance Sheet at 31 August 2024 Company No. 07578727 Notes 2024 2023 Fixed asset5 Tangible a55ets io 1,958 1,958 848 848 Current assets Cash at bank and in hand 33,519 33,519 1313) 33,206 35,164 32,109 32,109 13131 31,796 Creditors: Amount falling due within one year Net current assets 11 Total assets less current Ilabllltles Net assets excludlng penslon asset or Ilablllty Total net assets 32,644 32,644 35,164 35,164 32,644 The funds of the charlty Restrlcted funds Unrestrlcted funds General funds 12 12 35,164 32,644 35,164 32,644 Reserves 12 Total funds 35,164 32,644 These accounts have been prepared in accordance wlth the 5peclal provlslons of Part 15 of the Companles Act 2006 relating to small companies. For the year ended 31 August 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge thelr responsibllities for complying with the requi rements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 11 November 2024 And signed on its behalf by: skcliibb w.￿￿fI61311112O24, 10.20.42 GMT Trustee 11 November 2024 Page 6 Wivenhoe Pre-school Notes to the Accounts for the year ended 31 August 2024 l Accounting policies Basls of preparation The financlal statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective I January 20151 (Charities SORP IFRS 10211, the Flnancial Reportlng Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. Change In basis of accounting or to previous accounts There has been no chan8e to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accountlng Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the 8eneral objects of the charitv. These are unrestricted f unds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Designated funds Revaluation funds Restricted funds Income Recognltion of income Income 15 included In the Statement of Financlal Activitles ISOFAI when the charlty becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income wlth related Where Income has related expenditure the Income and related expenditure is expenditure reported gross in the SOFA. Donations and legacles Voluntary Income received by way of 8rants, donatlons and gifts is included In the the SOFA when recelvable and only when the Charity has unconditlonal entitlement to the income. Tax reclaims on Income from tax reclaim5 is included in the SOFA at the same time as the donations and gifts gift/donation to which it relates. Donated services and facilities These are only included in income (with an equlvalent amount In expenditure) where the benef it to the Charity 15 reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gain5/(lossesl on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gain5/{lossesl on investment assets This includes any gain or loss on the sale of investments. Page 7 Wlvenhoe Pre-school Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recogni5ed on an accrua15 basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance c05tS. All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These Include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strate8ic management of the Charity, together with a share of other admlnlstratlon costs. These are support costs not allocated to a particular activity, Grants payable Governance costs Other expenditure Taxatlon The charity is exempt from corporation tax on its charltable actlvitles. Tanglble flxed assets and depreclatlon Depreciation is provided at the followlng annual rates In order to write off each asset over Its estlmated useful life: Fixtures, fittings and equlpment 15-25Yo Reducing balance Stocks Stock Is included at the lower of cost or net realisable value. Donated items of stock are recognlsed at fair value which is the amount the charity would have been wllling to payfor the items on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade dlscount offered. Prepayment5 are valued at the amount prepaid net of any trade discounts due. Cash and cash equlvalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term hlghly liquld investments with original maturitles of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Page 8 Wivenhoe Pre-school Notes to the Accounts Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provisions are recogni5ed 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Leased assets Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a flnance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classif led as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the Inception of the lease or, if lower, at the present value of the minimum lease payments. The correspondinE Ilability to the lessor is Included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between f inance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised In accordance with the charity's policy on borrowing costs. Asset5 held under finance leases are depreciated in the same way as owned assets. Operatln8 le35e payments are recognised as an expense on a stralght-jlne basls over the lease term. In the event that lease incentlves are received to enter into operatlng leases, such incentlves are recognised as a liability. The a8gregate benef it of incentives Is recognised as a reduction of rental expense on a strai8ht-line basis. Penslon cost5 The charity operates a defined contributlon plan for its employees, A defined contrlbutlon plan is a pension plan under which the company pays fixed contribution5 into a separate entSty. Once the contributions have been paid the company has no further payments obligations. The contrlbutions are recognised as expenses when they fall due. Amount5 not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds, Recelpt of donated 8oods, facllStSes and servlces All donated goods, facilities and services recelved are recogni5ed within incoming resources and expenditure at an estlmate of the value to the charitv. 2 Company status The company is a private company limited by guarantee and consequently does not have share capital. Page 9 Wivenhoe Pre-school Notes to the Accounts 3 Statement of Flnancial Activities - prlor year Unrestricted funds Total funds 2023 2023 Income and endowments from: Charitable activities Investments 81,095 143 81,095 143 Total 81,238 81,238 Expendlture on: Charitable activities Other 3,703 75,465 3,703 75,465 Total 79,168 79,168 Net Income 2,070 2,070 Net Income before other galns/(lossesl Other 8alns and losses: Net movement In funds 2,070 2,070 2,070 2,070 Reconclllatlon of funds: Total funds brought forward Total funds carrled forward 30,574 30,574 32,644 32,644 4 Income from charltable actlvltles Unrestrlcted Total Total 2024 2023 Pre-school fees and funding Fundrai5in8 events 86,916 256 86,916 256 80,850 245 87,172 87,172 81,095 5 Income from Investments Unrestrlcted Total Total 2024 2023 Deposit account interest 218 218 143 218 218 143 Page 10 Wivenhoe Pre-school Notes to the Accounts 6 Expenditure on charitable activities Unrestricted Total Total 2024 2023 Expenditure on charitable octivities Pre-school fees and funding Governance costs 4,636 4,636 3,703 4,636 4,636 3,703 7 Other expendlture Unrestrlcted Total Total 2024 2023 Employee costs Premises costs Amortisatlon, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 66,565 8,531 66,565 8,531 61,926 8,318 490 490 212 3,308 1,340 80,234 3,308 1,340 80,234 3,718 1,291 75,465 8 Net Income before transfers 2024 2023 This 15 Stated after charging.. Depreclation of owned fixed assets Independent Examiner's fee Other fees paid to the auditor or independent examiner 9 Staff costs 490 212 397 378 55 2024 66,124 66,124 2023 61,133 61,133 Salaries and wages No employee received emoluments in excess of £60,000. The average monthly number of full time equivalent employees during the year was as follows: 2024 Number 2023 Number Pre-school Page 11 Wivenhoe Pre-school Note5 to the Accounts 10 Tanglble fixed assets Flxtures, flttlngs and equipment Total Cost or revaluatlon At I September 2023 Additions At 31 August 2024 Depreciatlon and impairment At 15eptember 2023 Depreciation charge for the vear At 31 August 2024 Net book values At 31 August 2024 At 31 August 2023 I I Credltors: amounts falling due withln one year 2,436 1,600 4,036 2,436 1,600 4,036 1,588 1,588 490 490 2,078 2,078 1,958 848 1,958 848 2024 2023 Accruals 313 313 313 313 12 Movement In funds Incomlng resources (Includlng Atl other September 8alns/losses 2023 Resources expended At31 August 2024 Restrlcted funds: Unre5trlcted funds; General funds 32,644 87,390 184,870} 35,164 Total funds 13 Analysis of net assets between funds 32,644 87,390 184,8701 35.164 Unrestricted funds Total Fixed assets Net current assets 1,958 33,206 35,164 1,958 33,206 35,164 Page 12 Wivenhoe Pre-school Notes to the Account5 14 Reconclllation of net debt Atl September 2023 At31 August 2024 Cash flows Cash and cash equivalents 32,109 32,109 1,410 1,410 33,519 33,519 Net debt 32,109 1,410 33,519 15 Related party dlsclosures Controlllnq party The company Is limited by guarantee and has no share capital,. thus no single party controls the company. Page 13 Wivenhoe Pre-school Detailed Statement of Financial Activities for the year ended 31 August 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Income and endowments from: Charitable activities Pre-school fees and funding Fundraising events 86,916 256 87,172 86,916 256 87,172 80,850 245 81.095 Investments Deposit account interest 218 218 218 143 143 218 Total income and endowments Expenditure on: Charitable activities Pre-school fees and fundlng 87,390 87,390 81,238 4,636 4,636 4,636 4,636 3,703 3,703 Total of expendlture on charltable actlvlties 4,636 4,636 3,703 Employee costs Salarieslwages Staff entertainment Staff tralning 66,124 160 281 66,565 66,124 160 61,133 259 281 534 66,565 61,926 Premises costs Rent Premises cleanlng 8,115 416 8,531 8,115 416 7,988 330 8,318 8,531 General administrative costs, including depreciation and amortisation Depreclation of Fixtures, f ittings and equipment Equipment expensed General insurances Stationery and printi n8 Subscriptions Sundry expenses Telephone, fax and broadband 490 490 212 1,909 977 1,909 977 1,619 932 49 260 798 215 47 215 47 160 160 60 3,798 3,798 Legal and professional costs Audit/lndependent examination fees Accountancy and bookkeeping 3,930 452 452 378 888 888 913 Page 14 Wlvenhoe Pre-school Detailed Statement of Financial Activities 1,340 1,340 1,291 Total of expenditure of other costs Total expenditure Net gains on investments 80,234 80,234 75.465 84,870 84,870 79,168 Net Income 2,520 2,520 2,070 Net income before other 8ains/llossesl Other Gains 2,520 2,520 2,070 Net movement In funds 2,520 2,520 2,070 Reconclllatlon of funds: Total funds brought forward 32,644 32,644 30,574 Total funds Carrled forward 35,164 35,164 32,644 Page 15